Fairway Realty provides guidance on the housing market

Realtor Katie Gunterman is pictured with a sign in a yard of a house she recently sold in Livermore.

This year’s housing market has brought a lot of changes to the way people are buying and selling homes, even in McLean County.

Realtor Katie Gunterman with Fairway Realty said in her 17 years of being a real estate agent, this time is substantially different.

“Usually our days on market will average between six months and a year,” she said. “We’re having houses that are listed and gone within a week and ten days. That’s not normal at all.”

Gunterman said this has caused the price of buying a house to go up.

“People are getting a lot more out of houses right now,” she said. “We can’t tell how long this is going to last but it’s been interesting.”

With the lack of rental properties, Gunterman said if people are able to purchase a house, it puts them in the position to buy.

Gunterman said there has been an influx of people moving to McLean County, particularly Livermore, who are from Owensboro.

“Almost every home that was sold in Livermore last year were people from Owensboro,” she said.

With Owensboro residents moving to McLean County, Gunterman said the McLean County residents have noticed a price jump.

“If they looked a year and a half ago or if they looked two years ago, things are more expensive,” she said. “There’s been a lot of McLean County people that are frustrated. They feel like they’ve either missed the market or everything is priced too high.”

Gunterman said buyers in McLean County are not overpaying for houses, but they are selling at market value. Realtors in Owensboro have been expanding into other counties aside from McLean County as well, Gunterman said.

A tip Gunterman has for buyers is to make sure the pre-approval process is done through a local bank lender.

“I would recommend you be pre-approved with a local bank,” she said. “Some of the websites, those transactions don’t seem to be going near as smooth as the local lenders. The local lenders have done a fantastic job getting people in and out as fast as possible.”

Gunterman said to be prepared to be patient.

“Be prepared to look at a house, make an offer on it and it not get accepted,” she said. “Be prepared that it might take you several months to buy a house, or several years to buy a house. Don’t get frustrated.”

For potential listers, Gunterman said to make sure the property is priced and assessed correctly.

“You need to talk to your realtor and find out where the right price is because the houses that I’ve had that have been priced at the market have sold very fast,” she said.

Gunterman said potential buyers should contact a realtor to let them know they are interested in buying so the realtor can keep them in mind for future potential listings.

For more information about Fairway Realty and market listings, call 270-499-0006. Fairway Realty is located at 200 East 3rd Street in Livermore.

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