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Fishers, IN Real Estate News

By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Homes in Fishers Indiana for February showed moderate increases from the January 2009 Fishers Real Estate Market report.  The most expensive home that sold in Fishers was $900,000 this month located on 126th just off of Allisonville Road.  It was new construction built by Hoover Custom Homes.  The lowest priced home was in Sunblest for $115,000.  Active Single Family Homes Listed in February            174 Single Family Homes Currently Active                         711 Single Family Homes Sold in February                          63 Average Sale Price                                                 231,266 Average Days on the Market                                      105 This report is for both Delaware and Fall Creek Townships for Fishers.  Please be sure to look at our Market Repor...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Once a month, the Fishers Chamber of Commerce hosts a luncheon for its members.  It is always well attended and has a great agenda.  This month, Scott Faultless gave a State of the Town address for us. Scott opened with a discussion that highlighted the commercial growth in Fishers.  St. Vincent completed a $31 million 120,000 sq ft medical complex that is currently 70% leased and just opened in 2008.  He discussed the Concourse at Crosspoint, a $100 million 600,000 sq ft Class A Office Bldg. that is currently under construction.  He touched lightly on Prairieview, a nearly $7 million office building and a $13.5 million investment of shops at Geist located at Olio and 116th.  What this Fishers Real Estate agent found most interesting was his discussion on residential statistics.  While ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Buying your first home in Fishers or elsewhere in the country just got $500 better than the current credit in place, albeit $7,000 worse than the original proposed credit a week ago.  The Economic Stimulus package that passed in the House (246 to 183) last week and then in the Senate (60-38) was signed into law on Tuesday.  The best synopsis of the difference between the previous $7,500 credit and the new $8,000 credit is provided by the National Association of Realtors (NAR). The gist of the bill as it related to buying a home in 2009 appear to be: Tax Credit is $8,000 If does not have to be repaid if you live in the home for three years Full credit limited to couples making less than $150,000; individuals making less than $75,000 Only applies to first time homebuyers It applies to a 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)
What does it take to be an expert in buying or selling distressed properties?  This Fishers Real Estate Team has developed not only an expertise, but are witnessing some incredible deals and also some heart wrenching stories. First let's identify what a distressed property is.  They can be bank owned, or REO (Real Estate Owned) or Pre-Foreclosure/Short Sale.  They are properties that for one reason or another cannot be sold for their current market value or the amount owed on the properties.  They can happen due to an illness, due a mismanagement of funds, due to a bankruptcy, or for any number of reasons and they are happening more frequently around the Indianapolis Real Estate Market and in the Fishers Real Estate Market as well.  My team currently has a property in the Indianapolis m...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
  If you have not had a chance to view the Year in Review 2008 Fisher Real Estate Report or the 2008 to 2006 Neighborhood Comparison Report, please check those out too!  This is the Fishers Real Estate activity for the month of January 2009. Each month I will look at the number of homes listed in that month, total actives in Fishers and also solds for the month.  I will use graphs from time to time to show comparisons.  You can find quick search buttons on our Fishers Real Estate Website for both Fishers and Carmel Real Estate.   Active Single Family Homes Listed in January          176 Active Single Family Homes Currently Active            707 Active Single Family Homes Sold                             49 Average Sale Price                                               222,955 Average ...
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By Michael Mergell
(Michael Mergell, RE/MAX Legends Group)
  by Michael Mergell, Managing Broker RE/MAX Ability Plus-Fishers Homeowners who have the option of completing a short sale in order to avoid foreclosure may be better served by saving their home in this manner. In some cases I can actually renegotiate the term, monthly payment and back debt to a more comfortable payment allowing you to keep your home. You owe more on your home than it is worth. Perhaps you have lost your job and are behind several payments. Maybe you are dealing with an increasing payment from an adjustable rate mortgage and are now facing foreclosure. A short sale is a way of selling your home for less than what is owed on it. By negotiating with your mortgage company's loss mitigation department to accept a lower payoff, a short sale can be accomplished. We first nee...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened on the Fishers real estate market for homes under $500,000 in January 2009:   2008 2009 % Change Active N/A 589 Homes Sold 90 68 -24% Average Selling Price $203,267 $211,592 4% Days on Market 92 84 -9% Price Per Square Foot $89 $90 1% Well, it is a new year and hopefully that trend of a 4% increase in average sales price continues. The 24% decrease in homes sold is par for the course and may actually improve as the last sales from January get officially recorded in the MLS. What is also great news is that the absorption rate, or month’s supply of homes on the market, is down to a very healthy 4.45! I expect to see more homes hit the market in the coming months as we ramp up for selling season, but hopefully the amount of homes sold will also rise. As you...
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By Kim Carpenter, Creating friendships, one home at a time!
(Trueblood Real Estate)
Have you wondered how the economy has affected the Geist Waterfront Sales?  Well I have compiled some data you may find interesting. # Waterfront Sales in 2007 17 Total Lawrence Township - 7 Sales      Median Sales Price of $701,000      Median Days on the market of 107 Fall Creek Township - 10 Sales   Median Sales Price of $880,000      Median Days on the market of 98 High Sales Price $1,375,000 # Waterfront Sales in 2008 21 Total Lawrence Township - 14 Sales    Median Sales Price of $653,000      Median Days on the market of 50 Fall Creek Township -  7 Sales    Median Sales Price of $880,000      Median Days on the market of 64 High Sales Price $2,000,000 Search Active Homes in Cambridge Search Active Homes in Masthead-Fall Creek Township Search Active Homes in Canal Place Search Acti...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Your Fishers Realtor wants to highlight another great neighborhood in the Fishers Real Estate Market!  In preparing the post about 2006 to 2008 home values in Fishers, I identified a neighborhood to feature, it is Rosewood.  Rosewood is located off of Cumberland just north of 131st street.  There are 170 homes built between 1995 and 2005 in the subdivision.  There were 12 homes that sold during 2008 with an average price per square foot of $128 and average days on market of 84.  None of these homes were distressed properties.  All of these homes had basements and three car garages and nearly all of them had over 3,000 sq ft without considering the basements.  There are currently four homes on the market giving Rosewood an absorption rate of four months.  The average for the Indianapolis...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
What decline in average price has your neighborhood experienced from 2006 to 2008?  We all know the decline for the Indianapolis area is right around 7%.  If you are lucky enough to own a home in Fishers or in Hamilton County, your decline was only on average 3.6%, but Marion County has seen a 13.1% decline.  As with any national or regional news, we need to be sure we apply it at the lowest level to really understand the dynamics.  So let's look at a few neighborhoods in the Fishers Real Estate Market that have seen negative decline in values and a few that have actually increased in values. Let's look at the declines first.  The largest decline happened in one of my most favorite neighborhoods, Timber Springs.  It is showing a decline of 16.8%.  This phenomena can somewhat be explaine...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
A few days ago, I listed five of the Top 10 Short Sale Deals for Homes in Fishers, Indiana.   It is a very popular topic in real estate, slated as the full day Monday session for the Indiana Association of Realtors Convention downtown next week!  My Fishers Real Estate team has three short sale listings that require the patience of Job.  We have three buyers as well that are trying to purchase a short sale listing.  It is hard for a buyer because they typically have to wait until the bank has approved the sale.  There is a lot of required paperwork in a short sale such as a market analysis, a hardship package, and updated financials from the seller that must be in and recorded and then reviewed by the negotiator of the bank.  It can easily take up to 45 days "just" to know if you have a...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Everyone wants a deal on the purchase of a home; I have identified them!  I have picked up quite a few buyers in the last week and it seems we are looking at short sales in every case.  I am becoming a resident expert on the value and deals in the Fishers Real Estate area.  The following are my Top 5 Picks for Short Sale Deals ranging in price from $129,900 to $200,000 in the Fishers Real Estate market: 11317 Boston Way is a three bedroom two full bath with 1,238 sq ft.  It is listed at $129,900 and has been on the market 193 days starting at $154,900.  The home at 11399 Guy Street dropped in price from $153,000 to $135,000 yesterday.  It is a 1,647 sq ft home with an additional 555 sq ft basement.  I've been in it; it's my pick for the BEST deal in Fishers Real Estate today! 12613 Broo...
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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 a Fishers and surrounding areas Real Estate Agent and as January 2009 is underway, I am seeing the market begin to change.  In the last seven days, I have received a dozen calls about either buying or selling real estate.  Most of them have been from buyers!  This is a good sign for our housing market in Fishers Indiana.  I'm so glad I took the time to relax and enjoy my family and the holidays during December, because it looks like busy is back. I met with a first time home buyer on Wednesday evening.  I love going over the home buying process with a first time home buyer.  There are so many things to know when you initially start that search for a home.  One of the first things a buyer needs to do is call a lender and start the mortgage process.  One of the first things to ask fo...
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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 decline in the Fishers real estate market continued for most of 2008.  This graph compares the 2008 to the 2007 sales by quarter.  The only glimmer was in the third quarter when the 100% financing (i.e. Ameridream) sunset on 9/30/08 creating a rush of buyers to the table during that quarter. This graph tells us a few things about real estate; most home sell in the 2nd quarter and very few homes traditionally sell in the 4th quarter.  As we compare 2008 sales to the same periods in 2007 for homes in the both Fall Creek and Delaware townships (that make up Fishers Real Estate), we are seeing significant declines.  November was the single highest decline this year, at 47%, while the YTD  decline is 13.6%.  Refer to our previous Fishers Real Estate Market report for an explanantion on t...
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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 in December 2008 for homes under $500,000:   2007 2008 % Change Active N/A 600 Homes Sold 76 69 -9% Average Selling Price $207,858 $201,356 -3% Days on Market 83 80 -4% Price Per Square Foot $90 $89 -1% After a huge dive in the number of homes sold in November, Fishers real estate has bounced back somewhat only seeing a decrease in sales activity of 9% over last year. The average sales price was down a respectable 3% over last year bringing the year end total to a very slight decrease in average sales price. For the year, Fishers real estate was only down .89% over last year. In this market, that is fantastic! The absorption rate, or number of months supply of homes on the market, ticked up just a little to 5.1. ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
If you have a Fishers Home or live on the far east side of Geist, then you have probably heard about the annexation that has been ongoing in the area. There are approximately 2,200 Geist homes that Fishers has been trying to annex from Geist for the last several years. It is a highly contested and very closed watched annexation battle. But as the year came to a close, Superior Court Judge Nation in a 28 page report ruled in favor of the Town of Fishers and ordered that the annexation of the Geist area take place. Nation stated that Fishers has shown that it can provide adequate fire service and other municipal needs of the 2,200 Geist residents. Fishers residents number more than 66,000 and is the state’s eighth largest community. The additional 2,200 residents would mean an additional ...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
It's time to feature another Fishers neighborhood in the Marchant Team Blog!  This month I have picked Sweet Briar; it is a sub division that many Fishers Real Estate residents choose and enjoy.  Sweet Briar is located on 126th just east of Cumberland Road.  There are 240 homes in Sweet Briar proper and another 216 in Sweet Briar North.  There are currently 3 homes listed for sale in Sweet Briar and only 1 in Sweet Briar North.  The average days on the market for Sweet Briar is 55 days so when we talk about resale this is a great neighborhood to be in and gain valuable equity.  Since January 1, 2008 there have been 28 homes that have sold in Sweet Briar in Fishers; three of those were distressed properties meaning they were bank owned.  If we have 28 homes sold in 12 months that is an 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 in November 2008 for homes under $500,000:   2007 2008 % Change Active N/A 584 Homes Sold 105 62 -41% Average Selling Price $200,448 $194,078 -3% Days on Market 88 78 -11% Price Per Square Foot $91 $85 -7% As you can see, it was a pretty sad month for the number of homes sold…worst decline YTD. However, the average sales price only dropped slightly and was down only 3% with the YTD average sales price almost unchanged. There are two pieces of good news coming out of Fishers in November; the average days on the market was somehow down 11% and the absorption rate is a very low 4.91. That means there is only a 4.91 months supply of homes on the market and that is almost a seller’s market by definition. If you are lo...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
When a seller puts their Fishers home on the market to sell; the Fishers Real Estate Agent better know the absorption rate.  Kristal Kraft writes a great explanation of Absorption Rate.  Basically it tells us how much inventory that looks like your home is currently on the market and how often homes like yours sell.  It gives us an idea of how long your home may be on the market and more importantly helps us determine the best price for your Fishers home. Here is an example for Sunblest Farms located at 116th and Holland and also the Sunblest across from the Fishers Ice Rink.  If we look at the number of homes that have sold since January 1, 2008 to current, we see that 58 homes have sold.  That means that about five homes per month sell.  (58 homes divided by 12 months).  There are cur...
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INDIANAPOLIS - Month after month, Central Indiana housing inventory steadily declined during 2008, with November showing a 13 percent drop, or 2,513 fewer homes on the market, compared to the same time last year, according to active listings statistics compiled December 8 by F.C. Tucker Company. Of the nine counties Tucker tracks, Hendricks County showed the largest decrease in inventory at -19.6 percent.   "As the number of homes available reaches a six-month supply in 2009, we will finally see a supply/demand correction of the local housing market," said H. James Litten, president of F.C. Tucker Company's Residential Real Estate Services Division. "Our current inventory is less than eight months, so the opportunity for central Indiana real estate to rebound gets closer and closer. Tod...
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