Indy Realtor's Blog: All Categories

Indianapolis real estate is the most affordable in the nation according to the National Association of Home Builders.  The NAHB recently released a report outlining the most and least affordable real estate markets in the nation and Indianapolis was the most affordable for the 9th consecutive time.  The report indicates that an amazing 87.5% of Indianapolis homes sold in the third quarter were affordable to families earning the areas median income.
 

The Indianapolis real estate market has been getting lots of good press lately including this article by CNN which names Indianapolis the number 2 real estate market poised for a comeback.  All of these reports should bolster consumer confidence in the Indianapolis real estate market and hopefully provoke an…

Active:

In November 2007, 104 homes were added to the Carmel real estate market with an average listing price of $286,248.  There are currently 551 total homes on the market with an average asking price of $300,836.  The active homes are asking $124 per square foot and have been on the market for 98 days.

Sold:

November 2007 saw 65 homes sell in Carmel with an average selling price of $270,081.  The sold homes in November 2007 sold for $110 per square foot and took 95 days to sell.  November 2006 had 80 homes sell on the Carmel real estate market with an average selling price of $291,121. 

As you see the Carmel real estate market is down in both the number of units sold and the average selling price.  The number of homes sold is down 18% while the…

Indiana will be getting $20 million in federal grants that will help pay for greenway and beatification projects in the Indianapolis area.  Six projects in the Indianapolis area will benefit from this grant money including an extension of the Monon Trail and a new trail in Beech Grove.  Here is how the money is to be allocated:


 

-         $1 million to Beech Grove to build a new 1.8 mile greenway.

-         $1 million to Hamilton County to buy land for the extension of the Monon Trail.

-         $600,000 to Hamilton County to rehabilitate a bridge that will provide a new pedestrian crossing over the White River.

-         $1 million to Cumberland for the construction of the Buck Creek Trail.

-         $1 million to Indianapolis…

The corridor along I-65 in Greenwood is apparently the place to be right now.  Two more hotels, on top of the other three, may go up in Greenwood near the new Cablea’s store.  La Quinta and Value Place are the two newest companies looking at Greenwood.  The proposals would put La Quinta on the north side of Main Street and Value Place on the south side of County Line Road. 

These proposals come on the heels of the giant 125,000 square foot Cablea’s going up at County Line and Graham Road.  Since then plans for 3 other hotels have been announced: Hilton Garden Inn near Cabela’s, Candlewood Suites on Graham Road, and Splash Universe a water park is also planning a hotel. 

These two new proposals certainly indicate that Greenwood is on the move and… Read Full Post

Broadripple, which is arguably Indianapolis’ coolest area, is about to get a little cooler.  The Fresh Market has started construction of its second store in the Indianapolis area.  The Fresh Market is an upscale grocery store that has everything from fresh produce, gourmet meats, specialty foods, and great wine and beer selection. 

The store will be located on the site of the former Atlas Supermarket at 54th and College Avenue.  One of the neatest things about the construction of this store is that due to limited space they will be utilizing the rooftop for parking.

The store is being developed by Kite Realty Group and is scheduled to open in May.  The Fresh Market has another location in Carmel off of 146th Street just east of US-31.  This store is…

Property tax reform is coming in Indiana, one way or another, good or bad, it is coming.  This is THE top issue on everybody’s mind and agenda right now, however the details of the tax reform are getting sticky. 

Governor Mitch Daniels has proposed his “1-2-3 plan” which limits property taxes to 1% of the assessed value for residential, 2% for rentals, and 3% for commercial.  I think everyone agrees that this is good starting off point, but many disagree about the details of the tax reform.  In addition, in order to pay for this tax reform the governor is proposing a 1% sales tax increase.

The 1% sales tax increase could prove to be a very hard measure to pass for Indiana lawmakers.  The speaker of the house has already said that it not be easy to the…

Amid all the media coverage of the housing bubble bursting it may seem impossible to sell a house in this market.  However, if a seller is willing to do the right things to sell their home it can be accomplished without having a fire sale.  I recently put a house on the market and it sold within 30 days of being on the market.  Why did this home sell while it seems other languish on the market for months on end?  While there are many factors that contribute to whether a home will sell or not, I believe there were 3 main factors that contributed to this homes quick sale:

1)      Price – The homeowner was not in denial of the market and priced their home aggressively.  They didn’t overprice it, nor did they under price their house.  We took a…

Medco, one of the nation’s largest pharmaceutical distribution companies, announced yesterday that they will be building a $150 million distribution center somewhere in the central Indiana area.  Greenwood which is seeing explosive growth along I-65 corridor is among the favorites sites for the center.  If Greenwood could land this deal, 1,300 jobs would be created with salaries ranging from $40,000 to $100,000 per year which translates to an annual payroll of $60 million for the local economy.

Needless to say, this would be HUGE for the city of Greenwood and Greenwood real estate.  $60 million dollars per year would have a great impact on the local economy and would create more demand in the real estate market.    Greenwood is landing big deals right… Read Full Post