Indianapolis/Fishers Real Estate

Beginning January 30th through February 8th the Indianapolis Home Show will be in Indianapolis!  CP Morgan has built a 3300, three level display home with creative space design, fully landscaped and lots of noteworthy upgrades.  Admission is $12.00 at the door or $9.00 when you contact me directly.  It will be at the Indiana State Fairgrounds at 1202 E 38th Street or you can call 317-927-7503.

Kate Gosselin from “Jon and Kate plus 8″ will be at the show on February 4th and share her tips for a happy and organized home.  That’s one I’ll need to catch!     The Home Show exhibitor list is amazing and too long to list here.  If you go to the show be sure to pop back here and give us your comments.

If you have plans to move to a new home in 2009, we hope you will check out The Marchant Team.  We work mainly in the Fishers Real Estate Market but also work in Carmel, Indianapolis, Noblesville, Zionsville and Lawrence Township.

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

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 the third quarter.

If you are a buyer, you should be buying a home in Fishers during this period of time when sellers are so motivated, interest rates are at an all time low (mid 5% last week) and the $7,500 incentive is still available  through June 30, 2009 for first time home buyers.  Sellers are anxiously waiting for a buyer to buy their home and will take less for the home than they would have a year ago; creating instant equity for you as the buyer.  In some neighborhoods, we have seen 10% depreciation.  Do keep in mind that while we have put a graph together for Fishers Homes, every neighborhood is different.  We have reports on neighborhoods with the best resale value in Fishers. 

As a seller, at first glance this may seem alarming but don’t panic just yet.  If you price your home right, stage it and be on the top internet sites that buyers search for a home, your home will sell.  Choosing a great realtor in Fishers will help you sell your home and it can be done!  While you may take less for your home than you would have last year, if you are buying another home you will get that same benefit on the buy side.  If you are moving up, the gain will probably be even better.  You may take several thousand less than you wanted on your existing home, but you may get the next home for $10,000 or even $15,000 less than that seller might have gotten a year ago.  Just as a buyer in the Fishers Real Estate market needs to know things, so does a seller.  How you sell your home and who you choose to sell your home in Fishers will make a difference.

There are many different views on when our housing market, our economy and our retirement plans will return to the levels we are used to, but for the time being the numbers in the graph show the reality we are currently facing.  The Marchant Team has many resources and experience in both buying and selling homes in the Fishers real estate market; we hope to hear from you and look forward to making your transaction one you will want to share with your friends and that we will also want you to share!

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

It is 2009 and we are all hopeful the housing market will find its balance again; but at the current moment, it is still very much a Buyer's Market when it come to selling your Fishers Home!  This video gives some great tips in a very interesting way.  I hope you enjoy it! Thank you Lani at Agent Genius for sharing your video with my Fishers Real Estate readers!!

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 $10.2 million in property taxes in the first five years.

It is likely Geist homeowners will appeal. This would cost approximately $15,000 to do and Geist is asking those residents to help support the cause.  Several attorney’s have commented that appeals in these types of instances typically do not fare well.    Geist homeowner’s basically oppose the annexation because they are already receiving municipal services and do not want to pay any additional monies to Fishers for them.

This is the approximate area that is to be annexed from Geist into Fishers (it is not exact):

View Larger Map

It is important for Fishers Realtors® as well as those in the Geist area to understand these pertinent issues that affect Fishers Homes and Geist Homes values and taxes.  We hope when the time comes to buy or sell your Fishers Home or the surrounding area, you will contact us!

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

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 average of 2.3 homes that sell per month in Sweet Briar so there is currently less than a two month supply of homes based on the Absorption Rate.

Sweet Briar homes in Fishers IN typically feature 4 bedrooms and 2 1/2 baths or sometimes 3 bedrooms and a loft.  They were built mostly between 1998 and 2003.  Of the 28 homes that sold last year, 11 of them had basements.  You can expect to pay about $140,000 for a basic home in Sweet Briar, but a basement will cost upwards of $190,000.  The highest priced home in Sweet Briar in 2008 sold for $227,900. 

What I love about Sweet Briar is the walking path, benches, playground, pool and tennis courts located in the center of the community.  The walking path is about a mile long and is beautifully treed.  Sweet Briar has an active homeowners association that plans events such as the Christmas luminaries and garage sales. They post their newsletters and minutes as well as covenants and restrictions on this website.

Sweet Briar is conveniently located near the Fishers YMCA, Ice Skating Rink and various restaurants and pubs.  It is tucked away from any interstate noise and is a great place to call home.  For more information; please contact the Marchant Team located in the heart of Fishers Real Estate.

Search active homes in Sweet Briar in Fishers Indiana

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

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 currently 35 homes on the active market or pending (they have not sold yet).  If 35 are on the market and only 5 sell per month we have a seven month inventory of homes in Sunblest Farms.  (35 homes on the market divided by 5 homes that sell each month).  So if you are planning to put your Sunblest Home in the active Fishers Real Estate Market this is good information to know. 

Of course there is more to pricing than just an absorption rate but it gives the more educated seller and the Fishers Real Estate agent information that can be used to begin the process. 

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

It is just about time for Santa to begin his journey to all of the homes in Fishers!  I’m not sure if he is planning to come from the NW in the area of Sunblest Farms and move across east towards Brooks Chase or whether he’ll come in from the SE beginning in the neighborhoods of Windermere and head west towards River Glen.  But, he’ll be sure to find your home.  You can track him here!  There is also a great post written by a very good friend of mine, Mariana Wagner from Colorado Springs who actually has someone working for her that can answer the question of Where’s Santa?

You can also click on the above NORAD (right hand corner) to track Santa too.  Our team wishes you the very best at Christmas and hopes the true meaning gives you peace during this holiday season. 

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

There are many types of Fishers Real Estate available in today’s market from affordable first time homes to custom designed homes.  There are older homes and a multitude of new construction in Fishers. The variety in style, age and pricing make Fishers Real Estate the first choice for many people.

If you are purchasing, remodeling or foreclosing an older home, there are many things you need to be aware of. Homes or buildings built before 1980, for example some homes in the Sunblest Farms area, have a strong potential of carrying asbestos materials. Residents that are purchasing or own homes in Fishers Indiana should know that asbestos fibers can become a serious health concern when high levels are inhaled over a period of time. Causing debilitating lung ailments such as malignant pleural mesothelioma, this disease takes the lives of more people than any other work related illness. Research has indicated it can take anywhere from 20 to 50 years for mesothelioma to develop. With limited treatment and difficulty in diagnosing the disease, mesothelioma life expectancy varies.

There are a number of factors that can impact how a person reacts to the disease and how their life span and life expectancy will be affected. These include age of diagnosis, latency period and cigarette smoking. Manufacturers of asbestos materials knew about the harmful effects and continued manufacturing the product anyways.  

Removal of asbestos in homes, workplaces and public facilities must be performed by licensed abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated.  

Asbestos professionals are trained in handling asbestos material. The type of professional will depend on the type of product and what needs to be done to correct the problem. You may hire a general asbestos contractor or a professional trained to handle specific products containing asbestos. Once the removal is complete, green insulation alternatives should be given consideration, such as: Cellulose, Cotton Fiber and Lcynene.

The United Nations Environmental Program states that the use of recycled building materials such as cotton fiber insulation can reduce energy use by 25 to 35 percent. The numbers continue to improve as more eco-friendly options become available. With a lackluster economy, these kinds of figures have attracted those who were unaware of eco-friendly construction. Not only will these asbestos alternatives reduce energy costs, they allow a lifestyle that promotes a clean, free of health damaging materials.

This article was written by Jesse Herman at the Mesothelioma Cancer Center headquartered in Orlando, FL.

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

As your Fishers Real Estate Agent, I want to sell you houses and provide valuable information about the neighborhoods in Fishers, how to take care of your home, update you on Fishers events and give you a few tidbits along the way.  This is a tidbit.  As the end of December looms in the ofting; here are some tax tips you can use to keep more of your money!

1. If you are a first time homebuyer, you can receive a $7,500 tax credit for 2009.  You must buy the home by 6/30/09.  Even if you buy the home in May and have already filed your taxes, you can file an amended return.  You do have to pay this back through your taxes at $500 per year for the next 15 years.  It is an interest free loan that has great timing right now.
2. Give gifts to your children or grandchildren.  Gifts up to $12,000 (or $24,000 if you are married and each giving a gift) per child need not be reported but the check must clear prior to 12/31/08.
3. If you participate in a 401(k), 403(b) or 457 plan; you can take advantage of expanded limits on contributions.  The general limit is $15,500 for 2008, but if you are over 50 you can contribute an additional $5,000.
4. If you aren’t participating in any of the above plans, consider making a contribution.  For an IRA; you have until 4/15/09 to make the contribution.
5. Consider contributing to an HSA (Health Services Account) which will be tax deductible and the withdrawals if made for a medical reason are not taxable.
6. Donating to a charity prior to 1/1/09 is deductible for 2008
7. If you are a teacher and have spent up to $250.00 for classroom materials; this is a deduction that is available to you.
8. You can “prepay” your deductible interest and/or property taxes to accelerate your deductions.
9. The home improvement credit does NOT exist in 2008.  It expired in 2007, but under the Emergency Economic Stabilization Act, was reinstated but only for improvements implemented in 2009…so wait on that one!
10. If you live in Marion County; be aware of the property tax situation.  When the bills come out; be sure your mortgage company pays it in 2008.

Of course, you should always check with a professional to ensure you are applying the tax codes correctly.

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

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 like those shown below, pricing is important.  If you really “have” to sell your home, you need to price it so the buyers can find it.  You should be able to trust your Lawrence Township or Fishers real estate agent to handle tight negotiations if a low offer comes in on your home.

If you are a buyer, get out there and buy!  Homes in the Lawrence or Fishers Real Estate market are going to be at their best condition and their best price.  Last week the interest rates were in the mid 5%; that is the lowest of the year.  In addition, the $7,500 first time buyer incentive is still available and we hold First Time Buyer classes every month to help you understand the process of buying, inspecting, and lending.  We have a real estate agent, a lender, an inspector and an interior decorator who goes over trends and ideas on how to stage your home.

Your Lawrence Township and your Fishers Real Estate Team are ready to help you sell your home or to help you buy your new home.

 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775