Welcome to my blog.

My goal is to share real estate market news and information as it affects the greater Indianapolis area.  My dominant area of expertise is the North East corridor.  This includes Fishers, Noblesville, Carmel and Geist. 

Not only will I bring local information to this blog but also information that affects the greater real estate market. 

Enjoy, profit and be informed.

 

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Sept. 4, 2013

August 2013 Carmel Indiana Real Estate Market Statistics

August 2013 Carmel Indiana Real Estate Market Statistics

Here is the current market data for Carmel, IN:

Homes sold in August 2013


164 homes were sold in Carmel, IN in August 2013.   
The average home sold had 4 bedrooms, 3 baths, and 2,550 square feet.  
The average list price in August 2013 was $345,257
The average sales price for August 2013 was $333,372
These numbers give us an average sales price of 96.69% of the list price.  
Average Day On Market was
67 for August 2013!

To see a complete list of the newest listings in Carmel CLICK HERE!

You can learn more about the town of Carmel by visiting the town's website at: http://www.carmel.in.gov/

The statistics for this August 2013 Carmel Real Market Report were found in the local MLS.  

If you are interested in a home in the Carmel area call me at 317-218-7867 or visit my website at: http://www.homesaleindy.com/carmel My website will bring you the latest and most current MLS listings.  You can also setup a customized search that will deliver homes that match your criteria right to your email inbox!  I specialize in real estate transactions on the north east side of Indianapolis to include the areas of: Fishers, Noblesville, Carmel, Geist, and McCordsville.  I look forward to helping you in your home search!

Sept. 4, 2013

August 2013 Fishers Indiana Real Estate Market Report

August 2013 Fishers Indiana Real Estate Market Report

Here is the current market data for Fishers, IN:

Homes sold in August 2013

180 homes were sold in Fishers, IN in August 2013.  
 

The average home sold had 4 bedrooms, 3 baths, and 2,393 square feet.  

The average list price last month was $268,090

The average sales price for August 2013 was $257,001

These numbers give us an average sales price of 97.1% of the list price.  

Average Day On Market was 50 for August 2013!


To see a complete list of the newest listings in Fishers CLICK HERE!

 

You can learn more about the town of Fishers by visiting the town's website at: www.fishers.in.us/

The statistics for this August 2013 Fishers Real Market Report were found in the local MLS.  

 

If you are interested in a home in the Fishers area call me at 317-218-7867 or visit my website at: http://www.homesaleindy.com/fishers/ My website will bring you the latest and most current MLS listings. You can also setup a customized search that will deliver homes that match your criteria right to your email inbox! I specialize in real estate transactions on the north east side of Indianapolis to include the areas of: Fishers, Noblesville, Carmel, Geist, and McCordsville.  I look forward to helping you in your home search!

Aug. 21, 2013

July 2013 Carmel Indiana Real Estate Market Statistics

July 2013 Carmel Indiana Real Estate Market Statistics

Real estate market report for Carmel, IN provided by Robert Haynes of www.homesaleindy.com

Here is the current market data for Carmel, IN:

Homes sold in July 2013
239 homes were sold in Carmel, IN in July 2013.   
The average home sold had 4 bedrooms, 4 baths, and 2,714 square feet.  
The average list price in July 2013 was $342,952
The average sales price for July 2013 was $334,225
These numbers give us an average sales price of 97.56% of the list price.  
Average Day On Market was
55 for July 2013!

To see a complete list of the newest listings in Carmel CLICK HERE!

You can learn more about the town of Carmel by visiting the town's website at: http://www.carmel.in.gov/

The statistics for this July 2013 Carmel Real Market Report were found in the local MLS.  

If you are interested in a home in the Carmel area call me at 317-218-7867 or visit my website at: http://www.homesaleindy.com/north/carmel My website will bring you the latest and most current MLS listings.  You can also setup a customized search that will deliver homes that match your criteria right to your email inbox!  I specialize in real estate transactions on the north east side of Indianapolis to include the areas of: Fishers, Noblesville, Carmel, Geist, and McCordsville.  I look forward to helping you in your home search!

Aug. 21, 2013

July 2013 Noblesville Indiana Real Estate Market Report

July 2013 Noblesville Indiana Real Estate Market Report

Real estate market report for Noblesville, IN provided by Robert Haynes of www.homesaleindy.com

Here is the market stats for Noblesville, IN:

Homes sold in July 2013

179 homes were sold in Noblesville, during July 2013.  

The average home sold had 3 bedrooms, 3 baths, and 2,172 square feet.  

The average list price for July was $216,794

The average sales price for July was $210,031

These prices make an average sale of 96.97% of the listing price.

Average sale price per square foot was $93

61 days was the average Days on Market for homes that closed.

To see a complete list of the newest listings in Noblesville CLICK HERE!

 

 

You can learn more about the town of Noblesville by visiting the town's website at:http://www.cityofnoblesville.org/

 

The statistics for this July 2013 Noblesville Real Market Report were found in the local MLS.  

If you are interested in a home in the Noblesville area call me at 317-218-7867 or visit my website at: http://www.homesaleindy.com/northeast/noblesville/  My website will bring you the latest and most current MLS listings.  You can also setup a free customized search that will deliver homes that match your criteria right to your email inbox!  I specialize in real estate transactions on the north east side of Indianapolis to include the areas of: Fishers, Noblesville, Carmel, Geist, and McCordsville.  I look forward to helping you in your home search!

Aug. 21, 2013

July 2013 Fishers Indiana Real Estate Market Report

July 2013 Fishers Indiana Real Estate Market Report

Real estate market statistics for Fishers, IN provided by Robert Haynes of www.homesaleindy.com

Here is the current market data for Fishers, IN:

Homes sold in July 2013

230 homes were sold in Fishers, IN in July 2013.  
 

The average home sold had 4 bedrooms, 3 baths, and 2,363 square feet.  

The average list price last month was $256,913

The average sales price for July 2013 was $247,163

These numbers give us an average sales price of 97.53% of the list price.  

Average Day On Market was 61 for July 2013!


To see a complete list of the newest listings in Fishers CLICK HERE!

 

You can learn more about the town of Fishers by visiting the town's website at:www.fishers.in.us/

The statistics for this July 2013 Fishers Real Market Report were found in the local MLS.  

 

If you are interested in a home in the Fishers area call me at 317-218-7867 or visit my website at: http://www.homesaleindy.com/northeast/fishers/ My website will bring you the latest and most current MLS listings. You can also setup a customized search that will deliver homes that match your criteria right to your email inbox! I specialize in real estate transactions on the north east side of Indianapolis to include the areas of: Fishers, Noblesville, Carmel, Geist, and McCordsville.  I look forward to helping you in your home search!

July 10, 2013

Foreclosres Down 29%

   

Foreclosures are continuing a steady fall, as home prices rise and the housing market picks up nationwide. 

About 1 million homes were in some stage of foreclosure in May, down from 1.4 million in May 2012, a 29 percent decline, according to CoreLogic’s latest foreclosure report. As of May, the foreclosure inventory represented 2.6 percent of all homes with a mortgage -- down from 3.5 percent a year prior.

There were 52,000 foreclosures completed nationwide in May, down 27 percent year over year. However, the numbers are still elevated compared to what’s considered normal for the market. Prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006, according to CoreLogic. 

Since September 2008 -- the start of the financial crisis -- about 4.4 million foreclosures have been completed, CoreLogic’s data shows. 

Meanwhile, shadow inventory is down 34 percent from reaching its 2010 peak. It was under 2 million units in April, representing a 5.3 month supply. 

“We continue to see a sharp drop in foreclosures around the country and, with it, a decrease in the size of the shadow inventory,” says Anand Nallathambi, president and CEO of CoreLogic. “Affordability, despite the rise in home prices over the past year, and consumer confidence are big contributors to these positive trends. We are particularly encouraged by the broad-based nature of the housing market recovery so far in 2013.”

The stock of seriously delinquent homes, which is the main driver of shadow inventory, is at the lowest level since December 2008, adds Mark Fleming, chief economist for CoreLogic.  “Over the last year, it has decreased in 42 states by double-digit figures, resulting in rapid declines in shadow inventory for the first quarter of 2013,” Fleming says.

The following five states account for nearly half of all completed foreclosures nationally and had the highest number of completed foreclosures in the last 12 months ending in May: 

  • Florida
  • California
  • Michigan 
  • Texas
  • Georgia

Source: CoreLogic

July 2, 2013

Housing Recover here we come!

Thanks to some neat reserach by Motley Fool, they have deomonstrated how the US Housing Market is making a come back.  After the big melt down beginning in 2008, we are making some serious strides.  Take a look at these charts to substantiate this:

The overall pace of existing home sales has picked up and reached a seasonally adjusted annual rate of 5.18 million in May. As interest rates pick up, the refinance boom that's been going on for a few years is rapidly slowing. That will hit the fees that major mortgage originators like Wells Fargo  (NYSE: WFC  )  and JPMorgan Chase  (NYSE: JPM  )  collect when they originate a loan and resell it. However, if purchase volume continues to pick up, fees from those transactions could be a partial offset to the drop in refis.

Compared to the home-price peak of more than $225,000 in 2006, the median existing-home sales price in may of $208,000 is still relatively affordable for home buyers. At the same time though, rising home prices are salve to the psyche (and overall wealth) of home-owning consumers. It's also a boon for banks as rising home prices makes homeowners less likely to default. Among the big banks, Bank of America  (NYSE: BAC  )  still has 2.6% of its loans in nonperforming status, while Wells Fargo shows 2.4%. Continued gains in home prices could help push those ratios lower.

 

As sales pick up, the abundance of housing inventory that was sloshing around in the market is getting sopped up. Lower inventory helps underpin further gains in home prices -- remember Econ 101: lower supply can help push prices up. Tightening inventory is also music to the ears of homebuilders. Just this week, we saw solid quarterly numbers from both Lennar  (NYSE: LEN  )  and KB Home  (NYSE: KBH  ) . New orders at Lennar were up 27% year over year, while its backlog dollar value leaped 76%. At KB, homes delivered were up 39% even as the average selling price climbed 25%. In other words, both companies seem to be reaping the gains that we see in all three of the above charts.

 

I mentioned a while ago, it might be time to dust off the dancing shoes.  Maybe time to cut a little rug with the happy dance?

 

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June 6, 2013

Market Shift?

Wow.  As I try to schedule showings for clients, it seems that more and more would-be prospects are already sold.  I did a search for a client in Carmel, 4 bedrooms, basement, 3 car garage, $300-400k (as I recall).  It yielded 8 results.  4 were pending and 2 had active contingencies.  In other words, 75% of them were already under contract.

What a contrast from just a few months ago.  I'm not doing the happy dance yet, however, I'm dusting off the shoes that have sat in the closet too long.  I'm optimistic that we are heading into a firmer market.

Another indication...  I represented a buyer on a $116k bank property.  It was undervalued so we bid a few thousand higher than asking.  The bank went highest/best so we went a few more thousand above the asking price.  We finally were awarded the bid because we were a cash buyer...but not necessarily the highest bidder.  There were 22 bids on the home.  22!

So what's that mean?

For buyers, get qualified and find a great house and make your play.  I think we've seen the bottom.

For sellers, I say there are 5 things that will determine the marketability of your home.

  1. location-great location
  2. home features-great house
  3. condition-no honey dew lists!
  4. presentation-make it look like a model home
  5. price-the great equalizer

If all 5 items are correct, your home will NOT stay on the market.

I believe we are heading for better days.

 

 

May 14, 2013

Rising Housing Market Likely to Lift Job Mobility

Home owners are starting to feel freer to move where the jobs are, Reuters reports, as worries about homes that won't sell or will sell at a loss begin to fade. 

Since early 2012, home prices in the major metro areas have been rising. Homes are also selling faster: It took 62 days, on average, to sell a home, compared with 91 days one year prior, according to March data from the National Association of REALTORS®.

The increase in mobility from the recovering housing market is expected to have a hand in lowering the jobless rate.

"Until the real estate market picked up, people wouldn't even consider a move without the certainty that they could sell their homes," Jerry Funaro, vice president of global marketing for TRC Global Solutions, a Milwaukee-based relocation service, told Reuters. "Companies are now more inclined to make offers since we're seeing real estate markets across the country coming back.”

The number of people who moved last year increased to 35.6 million, with the mover rate climbing to 12 percent, according to the U.S. Census Bureau. That marked an increase over the 11.6 percent low set in 2011.

"It's not a huge gain, but when you consider that for two years, we've had the lowest migration rates since World War II, any move up is good news," William Frey, a demographer at the Brookings Institution in Washington, told Reuters.

Meanwhile, in April, the jobless rate dropped to its lowest point in more than four years, reaching 7.5 percent, due to an increase in hiring among employers.

Source: “Insight: Housing improvement may herald return of U.S. workforce mobility,” Reuters (May 13, 2013)

April 29, 2013

What? Another house sold from under me??

This has been a crazy week.  I've been trying to find some homes for buyers in Hamilton County in the $300-700k range.  You'd think that they'd be plenty and with lots of sellers ready to deal.

well...

Buyers in this price range drop off precipitously.  It is interesting but Hamilton County real estate is in much better shape than most parts of the country.  In working with my buyers, we had several instances where I went to set up showings.  They were declined because they just went under contract.  Hmm...the search goes on.

We looked at one bank owned property in the mid-$500k's.  While we were there, we saw no less than SIX other parties scounting out this property.  Good deal?  Probably.  I'm sure it will go Highest/Best shortly.

The bottom line is that this is encouraging to sellers!  Where you may have been starving for showings (and more importantly offers), that may begin to change.  If the $300+ market is starting to move, there's hope for the rest of us. :)

Search $300-500k homes on our website.  You'll not be disappointed.