Indianapolis, IN Real Estate News

By Michael Taylor
(Red Door Real Estate)
Active:  October 2007 added 267 homes to the market in Lawrence Township with an average asking price $157,912.  There are currently 1265 Indianapolis homes on the market in Lawrence with an average listing price of $149,533.  The average home on the market is listed for $80 per square foot and has been on the market for 103 days. Sold:  In October 2007, 114 homes sold in Lawrence Township with an average selling price of $139,360.  The average home sold for $70 per square foot, received 92% of the asking price, and was on the market for 86 days.  Compare this to October 2006 when 132 homes sold with an average selling price of $126,142.  In 2006, it took 77 days to sell, sold for $73 per square foot, and average 95% of the asking price. The Indianapolis real estate market in Lawrence ...
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By The Indy Property Source - Keller Williams Realty, Where Relationships Matter
(Keller Williams Realty - The Indy Property Source)
 Being that this is a special day, I wanted to give out praise for all of our troops that are both active and retired.  We owe a debt of gratitude for protecting our freedom.  Just taking a couple minutes out of the day lets us center ourselves on what is really important.Here are a few ideas on how to celebrate the holiday:1. Teach about the history of the holiday and the events leading up to it2. Interview a veteran and write an editorial in a local paper 3. Look into the nation's reaction to the return of troops from various wars and see how we might learn lessons from that4. Make thank you cards for veterans and send them out to those you know or to a local VA hospital6. Invite veterans to speak at local schools, community centers, or churches  
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By Brian Beaver
(Re/Max Real Estate Groups)
Most Affordable Places To Live WellMatt Woolsey, 11.06.07, 6:00 AM ET Triple-digit monthly parking fees, $12 movie tickets, clogged intersections and weekly grocery bills that rival some mortgage payments. Welcome to life in the Big Apple. And Los Angeles. And Chicago.Of course, residents in these cities also get access to world-renowned museums, seats at the games of the winningest sports teams, well-kept parks and cutting-edge restaurants. But, it's possible to enjoy such amenities without the hassles. Step one? Look for more affordable spots that offer a similar or better quality of life, and where the dollar goes far.In Pictures: Most Affordable Places To Live Well First among them: Minneapolis. It nabbed the top spot on our list of Most Affordable Places To Live Well. There, homes ...
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The Warren Township real estate market for October 2007 has mixed numbers.  The total number of homes sold is down while the average selling price is up slightly.  In October 2007, 97 Indianapolis homes sold in Warren Township with an average selling price of $89,472.  The average home took 92 days to sell and received 94% of the asking price.  In October 2006, 125 homes sold on the Indianapolis real estate market in Warren Township with an average selling price of $86,756.  The average home in 2006 received 95% of the asking price and took 95 days to sell.  As you can see the number of homes sold is down by 22% over last year while the average selling price is up 3.13%. As of today, there are 1247 Indianapolis houses on the market in Warren Township.  Over the past 12 months 1583 home...
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By Hello World
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By James Wells, Zionsville Indiana Real Estate
(Honeycomb Properties)
I attended an event on Friday 9/7 at this location and then Saturday was their big Open House event. I will be able to say I was there when it was just mud and a lake. While it was EXTREMELY muddy, the event was very well done. I expect this to be a fantastic community, which will include condos and town homes ranging from around 1500 sqft up to around 4500 sqft. The price range I was given by one of the presenters was between $300,000-$800,000. It will likely be a few months before they have models to walk thru. The location is fantastic, just off Keystone close to 465, there is still plenty of surrounding woodland, it's close to Clay Terrace, Broadripple, Castleton Mall, as well as the Fashion Mall. The homes will have a very southern, Carolina design influence. You can find more info...
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By Brian Beaver
(Re/Max Real Estate Groups)
The Residences at 429 are located on top of 429 Pennsylvania Center.  Its in the heart of downtown Indianapolis.  The original structures was built in the early 1900's, and was the headquarters for the Reserve Loan Life Insurane Company.  The building is now on the National Register of Historic Places. The original design was built to house four additional floors, and now, ninety years later the potential of this building is being realized.  The architechtes of Browning Day Mullins Dierdorf created a very eye pleasing design that flows well with the sophisticated urban living, and the history of the lower level of the building.  It also has some amazing views, considering it looks over downtown's four memorial parks.  Some of the features that are included are: Hardwood flooring in foye...
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By Brian Beaver
(Re/Max Real Estate Groups)
Another exciting condo development downtown is Meridian Arch.  It is a renovated Church that sits adjacent to the War Memorial and the new Downtown Library.  The developer is Hearthview Residential (www.hearthview.com).  The aminenitites of these condo's is really quite stunning, they have the uniqueness in the history of the church, but also have the features you would expect in new construction and interior amenities. Some of the features include hardwood floors, stainless steel appliances, and granite countertops. These have many stardard features, but also have available upgrades.  As in, audio video systems, designer cabinet hardwar, cultured marble tubs and showers, and gas fire places. I personally wouldn't mind living in these!
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By Brian Beaver
(Re/Max Real Estate Groups)
757 Mass Ave is another major condo project happening on, well Mass Ave. This was built by Beilouny Luxury Properties and is yet another high-end well developed residential property.  It is situated on the corner of Massachusetts Avenue and College avenue, which if you don't know is a very energetic intersection in the heart of the trendy area of Indianapolis.  Units feature a sculpted rooftop garden, secured underground parking, private elevators, and customizable floor plans.  There are only 23 units available though, so if you are looking for one I suggest to get one soon.
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By Brian Beaver
(Re/Max Real Estate Groups)
  I know this isn't a new development, but I thought it's a pretty substantial piece of residential property downtown. So, I thought I would do a little blog about it on here! 333 Mass. Ave. is in the heart of downtown Indianapolis.  This condo development has unimaginable urban feal.  With modern contemporary floor plans, and what looks to be very high level finishes.  Most of the condo's are going to feature impossibly high ceilings, beautiful hardwood floors, and a ton of natural light.  Each one also is going to have amazing views of downtown Indianapolis, and all of Mass Ave. I think the coolest thing about this development is that it is going to be in the middle of all the development going on in downtown right now. Indianapolis is in the midst of urban renaissance and its definat...
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By Diane Brooks
(F.C. Tucker Company, Inc.)
Following is an article from CNNMoney.com regarding Indianapolis' Real Estate market and forecast:   By Paul Kaihla, Business 2.0 Magazine senior writer Indianapolis Projected median sales prices for single-family homes: Q1 2008: $122,940 Q4 2009: $130,630 Growth rate: 6.3 percent   Indianapolis is riding a few trends that are bringing about an early recovery in its real estate market. While Indiana's capital city did join in the housing boom this decade, prices didn't reach the stratosphere. Indianapolis still suffered through the downturn, though: Building permits for new homes dropped 30 percent from their peak in 2005. But the housing market hit bottom earlier here than in most parts of the country - during the last quarter of 2006. Now, with the local economy poised to grow faster ...
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By Brian Beaver
(Re/Max Real Estate Groups)
Young developer, towering dreamCan 24-year-old pull off $30M deal?Sat. September 08 - 2007 Cory Schouten -  cschouten@ibj.comIBJ staff Jaron Garrett hasn't developed anything like the 25-story tower he's proposing for downtown. And he doesn't come close to having the financial muscle to pull off the $30 million project, at least on his own. Heck, at 24, he still has to show ID to get a margarita. But Garrett is determined to sell his vision of transforming a downtown eyesore at Washington and Pennsylvania streets into a twisting glassand-steel apartment tower. The Marquis Tower, if built, would be an instant Indianapolis landmark. Designed by locally based WDI Architecture Inc., it would feature about 120 apartments with monthly rents ranging from $800 to $2,500, along with three levels...
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By Brian Beaver
(Re/Max Real Estate Groups)
Mayor: MSA ‘not a priority'Observers say long-delayed redevelopment unlikely to gain momentum before electionSat. September 01 - 2007 Cory Schouten -  cschouten@ibj.comIBJ staffWhen Bart Peterson announced in February that he would seek a third term as mayor, he said he wanted the opportunity to remedy one of the biggest disappointments of his tenure: the stalled redevelopment of the Market Square Arena site. At the time, he was pushing a tight time line to spark action. Developers got two months to submit plans. Two teams filed bids in April, and city officials promised a decision by July at the latest. Now, with the Nov. 6 mayoral election looming, Peterson seems content to wait for a third term to choose who will develop the fouracre site. He's willing to put off the opportunity to w...
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By Brian Beaver
(Re/Max Real Estate Groups)
The new Renaissance development is taking shape downtown Indianapolis.  The project is situated between Delaware and Alabama streets in the historic  neighborhood district of St. Joseph.  All in all the project seems to be a good fit for the area, we will see once they are actually done. The project is modest in size with 19 flats just north of the Renaissance Tower.  All the flats will be under $200,000. How does everyone feel about this project? Is there any other things going on in the area?
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By Justin Biehl, Your Hamilton County Real Estate Coach
(MVP Realty, LLC)
Congratulations Indianapolis.  Forbes has just named you the 28th best city for singles to live in.  So if you are single and moving in state to try and better your luck with the opposite sex, let MVP Realty help with your relocation.  We can definately find you a home that you'll love, however finding someone to live in it with you is up to you.
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By Brian Beaver
(Re/Max Real Estate Groups)
 Thursday, August 16th, 2007 In preparation for moving materials and staff into the transformed Central Library, the Interim Central Library, 202 N. Alabama Street, will close its doors to the public at 5 p.m. on Saturday, September 8, 2007.The Interim Central Library has provided downtown library services since December 2002, three months after construction began to expand Central Library at 40 E. St. Clair Street.It will take approximately six weeks to move the Interim Central Library's estimated 700,000 volumes of materials into the new facility. Following that, staff orientation and training along with final building preparation will be necessary before Central Library opens to the public.Patrons should be aware that circulating materials at the Interim Central Library will be unava...
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By Brian Beaver
(Re/Max Real Estate Groups)
New Condominium Development in Fletcher Place Offers Amenities, Convenience in Historic NeighborhoodTake a drive in downtown Indianapolis and everywhere you look another condo project is underway. This is the hottest trend in housing development in the Mile Square. Fletcher Place, the historic neighborhood on the southeast side of downtown, is no exception. The Villaggio and Fletcher Pointe are two high-profile examples. But just down the street, at the corner of Fletcher Avenue and College Avenue, Fletcher Place Lofts, LLC, is putting the finishing touches on a more modest development. Fletcher Place Lofts was built in 1907 as a Parish Hall addition to the Second Baptist Church of Indianapolis, and was the location of the first Goodwill Store in the United States. The building has been...
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By Brian Beaver
(Re/Max Real Estate Groups)
Scotty's Brewhouse, the Indiana college town institution, is working on plans for new restaurants in downtown Indianapolis, Chicago and Charlotte, N.C. The restaurant would like to locate at Pan Am Plaza, said Scotty Wise, the founder and president. They also may consider Penn Centre. Scotty's now has four locations, in Muncie, Lafayette, Bloomington and along 96th Street in Indianapolis. Wise is negotiating for new restaurant space in Charlotte's EpiCentre, a huge downtown mall, and in Old Town Chicago. Talks for a downtown Indy restaurant aren't as far along because of a shortage of quality space, Wise said.PLUS: Heidi's Brooklyn Deli plans to open at the northwest corner of 116th Street and Guilford Avenue in Carmel. The restaurant features sandwiches, wraps, salads and soups, along ...
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By Brian Beaver
(Re/Max Real Estate Groups)
Pan Am Plaza high-rise has buyerCoastal Partners agrees to sell 12-story Downtown building to Houston companyBy Tom SpaldingCoastal Partners, which has owned Pan Am Plaza's 12-story high-rise since 2003, has signed a contract to sell it to Houston-based Principal Equity Management.The deal is expected to close by mid-September, the companies said. No financial terms were disclosed.The pending sale of the 20-year-old building at 201 S. Capitol Ave. does not include either of two skating rinks or the plaza, which are owned by the Indiana Sports Corp.But PEM Chief Executive Officer Michael McQuay said his company has right of first refusal to purchase that property.McQuay said he expects no change in tenants in the office space, which is 95 percent full. The two biggest are the Indiana Spo...
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By Brian Beaver
(Re/Max Real Estate Groups)
Dr. Martin Luther King Jr. Street condosNear-Downtown corridor getting townhome project32 upscale units to be built near Crispus AttucksBy Tom Spaldingtom.spalding@indystar.comJuly 27, 2007A team of investors hopes to tap into interest in the Downtown Canal by bringing upscale townhomes to an area north of the canal near Crispus Attucks Middle School.JMK Development intends to build a 32-unit complex called Canal Gardens on a strip along Dr. Martin Luther King Jr. Street, between West 12th and 14th streets.While the canal stops a few blocks south, Canal Gardens will benefit from its allure and will feature a gazebo and old-growth trees. Another attraction is the development's proximity to Downtown.The price tag and its modern look contrast with the adjoining neighborhood, generally know...
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