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Indianapolis, IN Real Estate News

By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
The Indianapolis real estate market decline from 2008 to 2007 continues through the end of the year. (See graph).  We ended the year with a 19% decline in homes sold when compared to 2007.   This article is for Indianapolis homes sold between $100,000 and $500,000 to exclude some outlier areas that are either bank owned or luxury homes. It is specifically for Lawrence Township which is just south of the Fishers real estate market; but within Marion County. For December 2008 compared to 2007, we saw a decline of 31% for the month, one of the highest declines in 2008.  We also saw the average price per home drop from $195,000 in December 2007 to $180,850 in December of 2008.  The only good news came with the average days on the market.  The homes in 2007 averaged 112 compared with only 9...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at look at some year end numbers for Geist real estate and its largest and most popular communities:   Number of Homes Sold Average Sales Price   Community             2007 2008 % Change 2007 2008 % Change Admirals Bay 64 37 -42% $374,179 $415,495 11% Canal Place 14 12 -14% $636,596 $672,902 6% Feather Cove 27 22 -19% $333,962 $447,667 34% Fox Hollow 17 15 -12% $438,052 $439,720 0% Intracoastal At Geist 12 10 -17% $336,621 $393,198 17% Masthead 25 17 -32% $443,550 $378,258 -15% North Woods At Geist 10 6 -40% $123,116 $123,275 0% Shorewalk Condos 13 12 -8% $178,684 $156,483 -12% Springs of Cambridge 9 12 33% $562,976 $783,083 39% Windermere 30 32 7% $425,030 $384,475 -10% If you are looking to buy or a sell a home in the Geist area, please visit our website for more inform...
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By Erik Sale
(EZ Key Real Estate)
At www.EZKeyRealEstate.com one of the most common methods we have for measuring the success or viablility of our investors choice of house / investment is Cash on Cash return. Cash on Cash Return is a percentage that measures the return on cash invested in an income producing property. It is calculated by dividing before-tax cash flow by the amount of cash invested (down payment amount) and is expressed as a percentage.  Our larger packages of properties are around 1 million in value for 10-16 homes, fully renovated, 100% occupied with a 12 month cash flow guarantee.  We sell the packages at 70-80% of current value and owner finance 90% of the rest.  Here is a similar example: If before-tax cash flow for an investment property is equal to $15,000 and our cash invested in the property is...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at the Indianapolis real estate market report for December 2008 for homes under $500,000:   2007 2008 % Change Active N/A 734 Homes Sold 100 53 -47% Average Selling Price $117,856 $125,815 7% Days on Market 83 107 29% Price Per Square Foot $71 $65 -8% Well 2008 is over and the Indianapolis real estate market didn’t have any shockers in store for December.  Same trend as the rest of the year, the number of homes sold way down and the average sales price is way down.  The year end averages for the Indianapolis real estate market were 23% fewer homes sold in 2008 than in 2007 and an 11% decrease in average sales price from 2007.  Hopefully 2009 will be a better year for the real estate market and we may actually see some positive numbers this year. If you are interested in ...
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By Erik Sale
(EZ Key Real Estate)
Hey for those of you who have bought cash flow properties from http://www.ezkeyre.com this year we have a special opportunity. Stone Creek Chutes are the newest terrain to open out here in the Vail Valley. We will take you on a free tour! Or if you happen to be just starting out on skis or in real estate investing, we will keep you on the groomers...a groomed run is like a turn key 3 bedroom with guaranteed rent...you can't go wrong and its a great place to start. Check out this video of my friend Chris Anthony on Christmas Day. Talk about a white Christmas.
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By Erik Sale
(EZ Key Real Estate)
Fellow investor and master architect Matt L shared this classic Christmas tale with a new twist.  Matt is the architect from whom we buy the new Gov't buildings we sell to our clients. If your year was not all that you expected or hoped it would be, perhaps Santa has brought you the same gift. Our answer for 2009...replace your income, quit your job and let investment properties and cash flow lead the way. James Fudge: 'Twas the Night Before Christmas, 2008By James FudgeWednesday, December 24, 2008'Twas the night before Christmas, two thousand and eight,But I wasn't cheerful, I was getting irate.Reviewing finances, as I sat by the fire,I realized quite glumly -- I might never retire!My stocks and my bonds, my poor IRA,They were all cut in half -- my 401(k)!My home's latest appraisal, su...
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By Erik Sale
(EZ Key Real Estate)
December 28, 2008 A news report finally has come out demonstrating how Short Sales can benefit the borrower (see link below).  Real estate investors are very familiar with short sales, the advantages and disadvantages for the banks, sellers, borrowers and buyers.  Many cash flow properties are created by using a short sale as a strategy.  If you mention the words "short sale" to a real estate professional in Indianapolis, Denver, Memphis, Kansas City or Vail, you're likely to get a response that short sales are bad for sellers, bad for buyers, and just a complete pain.  For real estate investors, active realtors and those of us working in this area day-to-day, we see that these transactions can actually be good transactions for everyone involved.  They often leave the seller with some c...
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By Kristin Hunteman, Escrow Closing Officer
(True Title Company)
If my children were to be around for New Year's Eve, we would probably check out the festivities at the Indiana State Museum. This party will be held in the Governor Frank O'Bannonn Great Hall from 6 until 8.  Local band - The Tides - will perform as well as "Peewinkle's Christmas Puppet Show".  There will also be games, crafts, magicians and clowns and will conclude with a balloon drop at 8 PM. Reservations required - please call 317.232.1637.
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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 decline is the Indianapolis real estate market from 2008 to 2007 continues to be the norm.  We have shown this in an earlier post for the Fishers Real Estate market.  This article is for Indianapolis homes between $100,000 and $500,000 to exclude some outlier areas that are either bank owned or luxury homes on the water (yes, there is water in Indianapolis!).  It is specifically for Lawrence Township which is just south of the Fishers real estate market; but within Marion County for November Year to Date.  We are seeing fewer buyers in the market which means your Fishers Real Estate agent has to be on top of their selling game or be praying for a miracle to happen.  For November the decrease is 16% compared with an overall decline of 6% YTD through November. In a market with stats lik...
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By Joe Shoemaker, Joe Shoemaker
(MacDuff Realty Group, LLC)
Those of you who know me well also understand that I have a "thing" for mid-century homes. It's sort of a sickness, actually.I keep my eyes peeled for some of Indy's finest examples of mid 20th century homes, including Avriel Shull, Lustron, Eichler-likes, and other random examples of cool architecture.This week, I'm going to highlight 3 mid-century modern homes which are currently on the market in the Indianapolis area. They're all currently available and all within a few minutes of Broad Ripple.I hope you enjoy.Holiday greetings to you and yours. 1. 6401 N. Rural Avenue. (Download the Listing Sheet HERE) Bright, sunny and updated, this 50's Mid Century Modern (MCM) has an updated yet stylistically consistent feel. The main bath has been totaly renovated with floor-to-ceiling tile, a h...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened on the real estate market for Indianapolis homes that sold for under $500,000 in November 2008:   2007 2008 % Change Active N/A 8080 Homes Sold 855 637 -25% Average Selling Price $101,019 $87,038 -14% Days on Market 95 90 -5% Price Per Square Foot $63 $51 -19% After a couple months of only slight price decreases in Indianapolis, November saw a pretty big price decrease of 14% over last year. The number of homes sold being down 26% is really no shocker as this has become par for the course throughout the year. As winter approaches, we always see a decrease both in the number of homes sold and the average sales price. Two pieces of semi good news is that the average days on the market actually decrease and the supply of homes on the market went down slight...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened for homes for sale in Indianapolis under $500,000 in October 2008:   2007 2008 % Change Active N/A 8080 Homes Sold 968 735 -24% Average Selling Price $102,847 $96,982 -6% Days on Market 92 91 -1% Price Per Square Foot $62 $59 -5% Nothing new to report for Indianapolis this month; number of homes sold is down by 24% and the average selling price is down 6%. Last month showed signs of life with some better numbers coming out for both number of homes sold and average selling price but this month did not continue that trend. I will be doing reports on Carmel Indiana real estate and Zionsville real estate over the next couple of days. These are more telling to me about what is really going on because these areas are more desirable and should be better bell we...
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By MC2 Home Inspections, Indianapolis home inspection service 317-605-3432
(MC2 Home Inspections LLC)
As we are approaching winter (which can be the most grueling season on your home, depending on where you live), take some time to do some preventative maintenance on your largest investment...your home. All too often as Inspectors, we see and inspect homes that have not been properly taken care of. If homeowners took more pride in ownership and performed some very minuscule preventative maintenance on their homes, it would make for a much more enjoyable trip to the closing table for all parties involved. Below are just a few tips to prepare your home for the upcoming winter months. Check and clean or replace your furnace filters on a monthly basis during the heating season. Have your furnace or heating system serviced by a qualified service company (every two years for a gas or electric...
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I recently spoke to my realtor friend in Tampa, FL.   She was commenting about the up-swing in her real estate business over the past 3 months.   She was listing more, she was closing more than in the first quarter of 2008.   Wandering how this could be in such terrible economic times, I inquired about her good fortune.   She quickly responded with her secret:   Relationships were the key to her longevity.   She went on to share some metrics about the real estate industry.   She estimated that about 50% of her customers came to her because their last realtor never bothered to follow up with them.   She went on to add that a customer usually listed with her after she had been in touch with them on the 5th, 6th, or 7th contact.    The difference was the relationship they had developed wit...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened for Pike Township homes under $500,000 in September 2008:   2007 2008 % Change Active N/A 769 Homes Sold 102 87 -15% Average Selling Price $127,162 $110,181 -13% Days on Market 93 94 1% Price Per Square Foot $75 $64 -15% Pike Township did have as good of a month as Washington Township in September. We are still seeing a 15% decrease in the number of homes sold as well as a double digit decrease in the average selling price over last year. There are currently 769 homes on the market in Pike Township with an average asking price of $140, 212. In the past 12 months, 1034 homes have sold in Pike; this means there is an 8.92 months supply of homes on the market in Pike Township. If you are looking for a home in Pike Township, please visit our real estate in I...
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Here is a look at what happened with Washington Township homes under $600,000 for September 2008:   2007 2008 % Change Active N/A 1229 Homes Sold 125 133 6% Average Selling Price $156,671 $161,975 3% Days on Market 76 86 13% Price Per Square Foot $99 $93 -6% More good news this month is coming from Washington Township. For the first time this year, the number of homes sold is up over last year. Every single month so far this year we have seen double digit decreases in the number of homes sold in Washington Township Indianapolis, but this month showed a significant turnaround. In addition, the average sales price is also up. In all but one other month this year, we have also seen a price decrease compared to last year. This is great news and hopefully a sign of things to come. If you ar...
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By Michael Taylor
(Red Door Real Estate)
Here is a look at what happened for Indianapolis homes in Lawrence Township for homes under $500,000 in September 2008:   2007 2008 % Change Active N/A 725 Homes Sold 94 75 -20% Average Selling Price $156,425 $150,222 -4% Days on Market 82 74 -10% Price Per Square Foot $82 $76 -7% We have both good news and bad news here. The great news is that for the first time this year, we see an increase in the number of homes sold. The number of homes sold in Lawrence Township has been down for 8 solid months, this is the first time we have an increase. It is not a small increase either, 14% more homes sold this year compared to year. The bad news is that the average sales price is still down over last year by 17%. Hopefully, this increase in demand will continue and that will inevitably turn int...
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By Michael Taylor
(Red Door Real Estate)
Don’t look now, but the Indianapolis real estate market just had its best month of the year. Here is a look at what happened in September for homes under $500,000 in Indianapolis:   2007 2008 % Change Active N/A 11362 Homes Sold 967 873 -10% Average Selling Price $104,459 $104,008 0% Days on Market 94 94 0% Price Per Square Foot $64 $63 -2% The number of homes sold is down over last year, but only by 9.72% not by the 20 and 30 percent that we have been seeing in previous months. In addition, this is early in the month and this number will inevitably grow as agents close out the lagging deals from last month in the MLS. In addition to the vast improvement in the number of homes sold, the average sales price is basically unchanged over last year. Previously this year, we were seeing doub...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Lawrence Township Real Estate activity for the month of September 2008 is as follows: Active Single Family Homes Listed                            194 Active Single Family Homes Currently Active            1034 (5% decline from last month) Active Single Family Homes Sold                               116 Average Sale Price                                                     130,600 (all listings sold) Average Sale Price *                                                  177,000 (listings sold > $100,000) Average Days on Market                                           96 Neighborhoods w/Most Sold                    Glicks and Geist Valley Estates Previous months market reports for Lawrence Township Real Estate are available. The highest listing in Lawrence Township was for $1,525,000 in...
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