Indy Realtor's Blog: All Categories

Last week the Indianapolis Star reported what everybody is Indianapolis already knows; there is a surplus of unsold inventory homes from Indianapolis home builders.  This is really no shock to anyone and I think everyone knows that the oversupply of new homes is a major contributing factor to the relatively stagnant price in the Indianapolis real estate market. 

 The good news out of this article is that Indianapolis builders have slowed down their construction pace. A recent report found that the construction starts outpaced closings by 175 homes from April to June.  While the article does not portray this as good news, I believe this is an indication that Indianapolis new home builders have finally become realistic about the demand for Indianapolis new…

This will be a short one, as there are not too many details right now.  Premier Properties USA is looking to develop the southwest corner of 86th Street and Keystone into a mixed use development that would include a hotel, offices, shops, and condos. 
The project is called Woodfield Crossing and is in the beginning stages of planning and development.  The Premier Properties’ website talks vaguely about upscale businesses, top quality restaurants, and sidewalk bistros but offers little details about the project.  Premier purchased two office buildings on the site from Duke last month and these will also be incorporated into the site.

 They are scheduled to present the plans for Woodfield Crossing to the Nora-Northside Community Council on August… Read Full Post

Just when you think it couldn’t any worse the City-County Council passes a bill that will raise the Marion County income tax by 65%.  This increase is on the heels of another income tax increase that just took place July 1 and of course follows the property tax debacle everybody is already reeling from.  The money from the tax increase is going to be used for Mayor Bart Peterson’s $90 million crime fighting plan. 

The current 65% tax increase means that if you make a combined income of $100,000 per year, it will now cost you an extra $650 to live in Marion County.  Maybe it is my knee jerk reaction as a Marion County resident, but I think this is totally ridiculous.  This makes me want to sell my Marion County house and move to Hamilton County where…

Carmel has begun planning for the new 15 acre, $200 million downtown located at the southwest corner of Range Line Road and City Center Drive.  This project promises to be one of the cities finest and raise eyebrows across the nation.  Carmel City Center is planned as a collection of high end dinning, shopping, condominiums, penthouses, office and retail space, a concert hall, and a boutique hotel. 

There are 230,000 square feet of independent stores and restaurants slated along with 170,000 square feet of office space, a 102 room boutique hotel, a 1,600 seat concert hall and a 500 seat community theater.  Pedcor, the developer of the project, says the majority of the commercial space will be occupied by independent retailers and restaurateurs.  On the…

The Greenwood City Council has given the green light for an $18 million bond to entice the outdoor retailer Cabela’s to build a new megastore in Greenwood.  Cabela’s has plans to build a 125,000 square foot store on the southeast corner of I-65 and County Line Road.  Construction would take six to eight months and they could be selling outdoor gear to Hoosiers as early as fall 2008.

Cabela’s in Greenwood plans to have a giant mountain replica with running streams and waterfalls as its centerpiece to the store.  In addition, they plan to have an indoor archery range, a large freshwater fish tank with native species, and a world class gun collection.

What does this mean for Greenwood real estate?  The projected 200 jobs and 3 million annual…

In a previous blog, I had mentioned that there were new home layoffs in the Indianapolis new home industry and that the word on the street was that KB Home would soon be leaving the Indianapolis market.  Well, three months later that prediction has come true.  KB Home announced that they will indeed be pulling out of the Indianapolis new home market by the end of the year. 

I would also like to reiterate that I do not believe that will have a long term negative impact on Indianapolis new homes or the Indianapolis real estate market as a whole.  It is no secret that there are WAY too many builders in the Indianapolis market to begin with.  I believe that having one less builder to compete with will actually have a positive impact on the market.  It may…

Unlike other parts of the country and years past, it is NOT wise from an investment point of view to be one of the first people to buy in a new home neighborhood in Indianapolis.  As a matter of fact, you could really end paying up the price if the builder is not meeting their initial rosy projections and start offering crazy incentives to move houses.  Indianapolis new home builders are renowned for offering things like: free basements, free sunrooms, free granite, etc. 

The reason I was thinking about this was because I am working with a client who is looking at the Hansen and Horn neighborhood in Greenwood Smokey Row.  Their sales have not been what they expected and they have decided not to build in the second section of this development. …

2984 Amherst Street, Indianapolis, IN 46268

$144,900

This condo located in the College Park subdivision is a tremendous value for someone looking for the convenience of the near north side.  The condo offers just under 1300 square feet and has 2 bedrooms and 2 bathrooms.  The condo offers a low maintenance brick exterior, has recently been painted, has a remodeled bathroom, and offers mature trees and landscaping.  With its proximity to St. Vincents Hospital this condo would perfect for a young couple or a doctor doing their residency. 

College Park is quiet subdivision that is located in between 86th street to the south, 96th street to the north, Michigan Road to the west and Township Line Road to the east.  From this…