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Fishers, IN Real Estate News

By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened on the Fishers Indiana real estate market in June 2009:   2008 2009 % Change Active N/A 681 Homes Sold 153 152 n/a Average Selling Price $212,484 $218,474 3% Days on Market 72 72 n/a Price Per Square Foot $93 $92 -8% I am almost afraid to say it, but it looks like Fishers actually had a good month in the midst of all this madness that is the “housing crisis”.  The number of homes sold was basically the same as it was last year; an amazing feat in this market.  In addition, the average sales price was up 3% over last year!  More good news…the absorption rate dropped slightly to a very sustainable level of 5.57.  I don’t want to get too excited but, let’s hope this continues! If you are looking to purchase a home, please visit our Fishers real estate websi...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
We have been doing market reports for Fishers Real Estate for over a year now!   This particular report highlights the 1st six months of 2009 with the same time period in 2008.  The graph below highlights the key indicators we should watch, including price per sq ft, days on market and the number of distressed properties.  The graph shows an increase in distressed properties of 59% which gives a slap of reality to the current housing market.  I don't want to beat a dead horse with the things that can go bump in the night on a distressed property, but my word of caution is be sure you have a lot of time and are handy if this is a market that interests you. We are also seeing the under $150,000 market make up 30% of the total sold homes in Fishers in 2009; versus only 25% of the total in ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
I am seeing a lot of Fishers Homeowners in the $130,000 to $175,000 price starting to look for a "move up" home.  They have spent maybe two or three years and are ready to sell their home due to the strong first time buyer's market for their home. It was of course, easier when they bought that first home and knew exactly when their lease would be up to time the purchase of their new home perfectly.  It is much harder to determine when their current home will sell, so the option of a first right is being utilized more frequently. A first right or contingency offer is when you agree to terms (purchase price, closing costs, possession, etc) on the new home, but the purchase agreement does not go into effect until the buyer sells their current home.  The benefits to the buyer are that they ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Active Homes for sale in Fishers Indiana for May total 735.  What is most interesting is of the 189 new listings that came on the market in May, nearly 20% of them were from high end neighborhoods (sale price over $500,000) including Bridgewater, Canal Place, Lake Stonebridge, and Windermere Pointe.  This may tell us that consumer confidence is beginning to come back or it may tell us executive job loss is on the rise; what's your call? This market report covers the activity for May 2009 and is for both Delaware and Fall Creek Townships.   Please be sure to look at our Market Report category for previous month reports.   Active Single Family Homes Listed in May                   189 Single Family Homes Currently Active                        735 Single Family Homes Sold in May          ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Fishers home owners enjoy great schools, appreciating values in neighborhoods and many local events to enjoy.  Crime is not something that is talked about often here.  But, as summer approaches and people take vacations and are away from their Fishers homes, I want to at least publish some helpful phone numbers and links.  Fishers Crime Watch is a great resource to learn about setting up a neighborhood watch and they also have a link showing the crimes for various areas in Fishers for the month and various tips. Here are some of the local numbers and links for you to use: Fishers Police Department: 595-3300Fishers Fire Department: 595-3200Sign up for Fishers Alerts Geist Patrol: 842-8082 Indianapolis Metro Police: 327-3811 (non emergency dispatch)CrimeView Community (online incident map...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
As your Fishers Realtor, I want to highlight as many neighborhoods as possible for you.  It gives you a chance to see what resale and home values look like in the Fishers Real Estate market.  Be sure to check out my Fishers monthly market reports detailing the activity in our area. Sumerlin Trails is located off of 121st just west of Hoosier Road; there is also a newer area being built by Westport homes off of Hoosier Road.  Together these two area of Sumerlin Trails has 376 homes.  I want to focus primarily on the older neighborhood of Sumerlin Trails. There are currently four active homes in this division with an average price per sq ft of $75 and an average DOM (days on market) of 88 days.  There are six pended at $80/sq ft and an average of 33 DOM.  This price point in Fishers is fl...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Spring is here and if you are planning to buy a home, here are my Top 5 Secrets for making the process successful: 1) Know the difference between Pre Approval versus Pre Qualified and get Pre Approved.  Don't just spend a few minutes on the phone with a lender and get a letter; but rather spend time with the lender and give him or her the appropriate documents so that you are Pre Approved.  The market is shifting again, specifically in the first time buyer market.  Houses are seeing multiple offers and price is not the only factor for a seller to choose their buyer.  A buyer's financial strength will matter, play competitively. 2) Make your offer with as few contingencies as possible, most certainly do not make it contingent on selling your home. There is a season where that works well;...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Active Homes in Fishers Indiana for April total 737; something for everyone!  This market report covers the activity for April 2009 and is for both Delaware and Fall Creek Townships.   Please be sure to look at our Market Report category for previous month reports.   Active Single Family Homes Listed in April                   184 Single Family Homes Currently Active                         737 Single Family Homes Sold in February                         113 Average Sale Price per sq ft                                       $89 Average Days on the Market                                      103 The neighborhood with the most sold in April were Sandstone and Sunblest.  These are first time buyer priced neighborhoods so that makes sense to see those turning over more.  If we look at April...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Have you ever wondered what the prices are for homes for sale in your Fishers neighborhood?  I have created a unique Fishers Real Estate tool that you can bookmark and use for future reference.  If you don't find your Fishers neighborhood in this table, let me know and I will add it.  I have included the table below but will also give you the link in case you want to bookmark it.  Fishers Home Search by Neighborhood is updated real time so you will always have the latest information.  If you are curious about how much a home sold for, you'll need to contact me directly.  I cannot link to that specific information. Search Homes in Fishers Neighborhoods Avalon Berkley Grove Bradford Knoll Boulders Britton Falls Britton Ridge Burberry Canal Place Conner Knoll Covington Estates Gray Eagle H...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
I have written many posts on Fishers Real Estate, Fishers Neighborhoods, Appreciation Rates in Fishers with Market Reports, Hot Spots and Events in Fishers, Indiana.  But, in celebration of my 100th post, I want to take time to talk about Keller Williams and RED Day.  This stands for Renew, Energize and Donate.  It is the hope of Keller Williams that together, we can make a difference! On May 14th all across the country, Keller Williams associates (nearly 75,000) will be giving back to their communities.  In the Indianapolis area, the four KW offices with over 200 agents are focusing on the parks in the area.  We will be landscaping, picking up trash, painting play area equipment and hoping to beautify the areas the children of our community play in each day.  The Fishers Real Estate of...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Appraised values of homes are definitely a barrier to a successful close in today's market.  While the Fishers Indiana Real Estate Market remains strong, there are pockets of declining values in various Fishers neighborhoods.  Appraisers are only going back three months currently and picking up those declining values in appraising current sales.  I want to talk about the definitions of Assessed Values and Appraised Values and how they both differ from a CMA (Competitive Market Analysis).  An Assessed value is the value put on your home by the town's assessor and it is used for tax purposes.  It is much more global in nature.  The Assessor will not enter any homes and will not consider any updates or lot premiums.  They typically use a much more global look at the properties.  In many ca...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Each month, I am going to highlight my top foreclosure and short sale picks for Fishers homes under $200,000.  With interest rates low and many homes still on the market; it is a uniquely great time to buy.  Keep in mind; these types of homes do require the patience of Job! These are the five Fishers homes for April: 12849 Longleaf in Sterling Green is listed at $114,000 which is $84/sq ftcompared to other homes on the market in that neighborhood at $105 as an average per square foot.  The average for homes that have pended or sold in the last six months is right at $96/sq ft.  If I look at the solds for short sales I see the prices much lower; two such homes sold for $95,000 and $103,000 recently.  This homes is 1,352 sq ft with three bedrooms.  It went on the market January 1st.  For ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
The Fishers Real Estate market has great opportunities for First Time Home Buyers or just buyers looking for great deals.  This is a video of one of our clients who wanted to share his successful experience at buying a short sale.    The MIBOR system that I use to find homes for my clients has many more options than a consumer search model has, for example I can find homes with fences, homes with islands or walk in closets, etc to help narrow the choices to the ones that best meet my clients needs and wants.  One of the options I have is for "Distressed Properties" so please let me know if I can set up a specific search for bank owned or short sale homes for you!        Cindy "in Indy" Marchant - Fishers Real Estate AgentKeller Williams Realty Indy Metro NEFishers IN Real Estate Website...
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By Kim Carpenter, Creating friendships, one home at a time!
(Trueblood Real Estate)
Happy Easter!! I want to thank my fellow Keller Williams Indy Metro NE agents for making our 3rd annual Spring Fling for our clients & Fisher's residents such a success!!  We need to thank mother nature also for the beautiful sunshine! And I can't forget our Easter Bunny, aka....my Marchant Team member, Susan Timmerman!! A good time was had by all!!! 
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
The 1st Quarter 2009/2008 Real Estate Market Report for Fishers has some very interesting information in it.  In this report we will include both 46037 (Fall Creek) and 46038 (Delaware) comprising the Fishers Real Estate Market Report. What is interesting to note is that the higher end market is not doing as well in 2009 with only 27 homes over $350,000 selling compared with 48 in 2008.  It is no surprise, that overall, we are seeing a 27% decline in homes sold from 2008.  We saw only 227 homes sell in the first quarter of 2009 compared with 311 last year.  In addition, we are seeing longer days on the market in 2009 (15%) and a lower price per square foot (4.4%). The last note on this chart is the number of distressed properties; I am somewhat surprised that the numbers in 2009 are not...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Wow, he got a Fishers home at about 70% of market value in a short sale transaction! That is the headline to this story of *Ted* (I changed his name to protect him!). Ted was referred to me about 18 months ago by his lender who knew me. He was a first time home buyer and as with many buyers wanted more than his budget was able to give him. We looked at homes on and off during that time period; we were always on his time table. That is one thing about this Fishers Realtor; I am on your time table always! When the $7,500 tax credit became available we became more serious but still couldn't find the right one or couldn't get it at the price we wanted. So we moved on. Then when the $8,000 tax credit became available we really felt like we needed to find a great bargain. We found it at the A...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened on the Fishers Indiana real estate market for homes under $700,000 in March 2009:   2008 2009 % Change Active N/A 632 Homes Sold 129 90 -30% Average Selling Price $2314,817 $183,544 -15% Days on Market 89 94 -3% Price Per Square Foot $91 $88 -3% Maybe I am in denial, but I just believe these numbers. I might buy a 30% decrease in the number of homes sold in Fishers, but I cannot buy a 15% decline in the average sales price. I think it was unusually high in 2008 and low in 2009. I guess time will tell, but I don’t believe it. As we get into selling season full swing, the next few months should tell us what is really going on with the Fishers real estate market. If you look at the absorption rate in Fishers it is 5.33 which indicates a very healthy real es...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Several months ago, just about anyone breathing could get a loan to buy a home in the Fishers Real Estate market.  Fast forward to today and you might have to give up your first born to get that same loan.  It is definitely harder to get a loan than it was, but there are things you can do to help improve your chances.  If you have credit score issues, you can have your credit repaired in the next six months and still cash in on the $8,000 first time buyer credit. First let's identify what a FICO score is.  It is an abbreviation for Fair Issac Company.  It is a measure of borrowers credit risk commonly used by mortgage people when determining loan worthiness.  It is typically between 300 and 850.  It not only determines whether you get the loan, but often will also dictate the terms of t...
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By Bill Foxworthy, Jill Turner, Real Estate - Indianapolis, Fishers, Carmel
(Carpenter Northeast)
Fantastic find in Hickory Woods! Custom built home with over $100,000 of recent upgrades & improvements to the family rm, kitchen, breakfast area, master suite & bath. This home truly has it all, new custom cabinets, ceramic floors, solid surface counter tops, new appliances, family rm w/frplc & custom built media center. Totally upgraded master suite & bath. 4 bedrooms, 2.5 baths, finished bsmt. All this on a private wooded cul-de-sac lot w/sprinkler system. Truly a must see for the money.   7502 Oak Tree Ln in Fishers $300,000 4 Bedrooms2 BathsSq Ft: 3326 MLS# 2911581     Single Family Home
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
We get great testimonials from our clients, but this one we received today from a previous Fishers Real Estate seller. In a market that is tough; it feels great to get this type of support.  We wanted to share it with you. This is for one of the members on the Marchant Team, Liz Hanes. Just a note to let you know that my family and I are settled in our new house in Louisville, KY.  I'd like to take a moment to express our extreme gratitude for all your help and support throughout the process.  I would like to note that you had approached us a year earlier about listing our house and I had decided to go the FSBO route.  We now realize this was a very big mistake and waste of a year.  I will never forget that throughout that year, you continued to contact us with continued support and you...
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