Indianapolis/Fishers Real Estate

It’s that time of year again to enjoy the spectacular shows in Fishers and the surrounding areas!  Fishers Real Estate residents can watch the fireworks several nights at the Symphony on the Prairie at Conner Prairie at Allisonville and 131st.  Read the list below for other great venu’s to celebrate the 4th of July!

June 30th

Avon
Ribfest 5-10 pm
Firworks at dusk
Washington Township Community Park Offices

Greenwood
Parade 10 am
Festivities throughout the day
Fireworks 10 pm
Craig Park

New Palestine
Independence Day Celebration begins at 7:30 pm
Fireworks at dusk
New Palestine High School football field

July 1st

Kokomo
Fireworks 10 pm
Foster Park

July 2nd

Fishers
Symphony on the Prairie: Yankee Doodle Symphony
Gates open at 4:30 p.m. for picnicking and pre-concert entertainment
Concert begins at 8 pm and fireworks follow
13400 Allisonville Road

July 3rd

Bloomington
Fireworks at dusk
IU Athletic Complex

Carmel
CarmelFest 4-10 pm

Crawfordsville
Freedom Fest 4-10:30 pm
Milligan Park

Fishers
Symphony on the Prairie: Yankee Doodle Symphony
Gates open at 4:30 p.m. for picnicking and pre-concert entertainment
Concert begins at 8 pm and fireworks follow
13400 Allisonville Road

July 4th

Anderson
Midnight Parade
8th and Main

Bedford
Limestone Heritage Festival
Parade 11:30 AM

Carmel
Parade 10:30 AM
Festival begins after the parade
Fireworks 9:45 pm
Civic Square

Cicero
Parade 2:30 pm
Fireworks over Morse Lake at dusk

Danville
Blanton Fun Run 8:30-10 am
Kids’ Parade 11 am - 1 pm
Train Station in Ellis Park
Fireworks at dusk
Danville High School

Fishers
Symphony on the Prairie: Yankee Doodle Symphony
Gates open at 4:30 p.m. for picnicking and pre-concert entertainment
Concert begins at 8 pm and fireworks follow
13400 Allisonville Road

Frankfort
Vendors, car show 8 am
Pool noon - 8 pm
Entertainment 4 - 9:30 pm
Fireworks 10 pm
TPA Park

Greenfield
Fireworks at dusk
Greenfield Central High School

Indianapolis
Freedom Blast at 9:45 PM
Tune to 94.7 for synchronized music
Regions Bank

Lebanon
Fireworks 10 pm
Lebanon Middle School

New Richmond
Festival and fireworks noon-midnight
New Richmond Park

Noblesville
Parade 5 pm
Festival 6-10 pm
Fireworks 10 pm
Noblesville High School

 Plainfield
Fireworks at dusk
Hummel Park

Shelby County
Fireworks at dusk
Shelby County Fairgrounds

Sheridan
Lions’ Club Parade 10:30 am
Fireworks at dusk
Biddle Memorial Park

Tipton
Fireworks at dusk
Tipton County 4-H Fairgrounds

Zionsville
Festival from 5:30-10 om
Fireworks at dusk
Zionsville Lions Park

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Other Northside Blogs (Carmel, Noblesville, and Geist)

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

Every month when I write the Fishers Real Estate Market Reports, Sunblest Farms is mentioned it seems.  Sunblest Farms is one of the most popular older neighborhoods in Fishers and is located within walking distance of most of downtown.  One of the great features is the way that Sunblest is laid out; it is set up as a wheel with Holland Park as the hub and the streets/homes as the spokes. 

The park features softball, basketball courts, soccer and a great playground area that is surrounded by trees.  There is also a picnic area that is covered for shade.  The park has a walking path around it so while the kids play, parents can exercise!  New Sunblest (where all the streets start with a “T”) has a pool and basketball courts and is conveniently located across the street from the Fishers YMCA.

Old Sunblest has 1,433 homes and about half of them were built between 1985 and 1990 and the other half between 1976 and 1984.  New Sunblest has 268 homes and were built in the early 90’s.

Since January 1, 2009 over 40 homes have sold in Sunblest with an average price per sq ft of $86 and average DOM (Days on Market) of 66.  The DOM indicates a neighborhood with great resale.  There are currently 22 active homes on the market at an average price per sq ft of $90.  I have one listing on Torrance with a fenced yard and hardwood floors for $158,400.  There are currently 10 pended at an average price per sq ft of $88.

It is a large neighborhood with a lot of activity and as a result will have distressed properties.  Of the 41 that sold, 9 of them were distressed.  Of the active and pends, five are distressed.  Of the homes that sold since January 1, 2009 the lowest sale was $87,000 and the home has nearly 2,000 sq ft.  There was recently a HUD home on Tanner that sold for less than $100,000 that will probably list for over $150,000 bought by a Realtor®.  Please contact your Fishers Real Estate agent because we know where the deals are and where the best resale is.

Sunblest Farms is a neighborhood worth looking if you are looking for your first home, move up home or downsizing home.  There are so many different types of homes to choose from, ranches, two stories, tri-levels, some with basements but all in a great part of Fishers!  I look forward to helping you navigate the Fishers Real Estate market when the time is right for you!

Search Fishers homes in Sunblest

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Other Northside Blogs (Carmel, Noblesville, and Geist)

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

Residents who live in or near the Fishers Real Estate market will have a delightful and fun event this weekend; the Fishers Freedom Festival is June 27th and 28th.  The essence of the Fishers Freedom Festival is to encourage community involvement by bringing all ages together in a safe environment and creating various opportunites for families to interact together in a fun and spirited way.

There is a 5K/2 Mile walk that begins at 8:00 on the 27th. The two mile family fun walk will begin at 8:05 a.m.  Participants will take a scenic route through Fishers’ neighborhoods, accompanied with water stations that are sponsored by Aqua Systems.   Residents who live along the route are encouraged to have hoses and water available.    

The parade will have Samantha Peszek as the Grand Marshal.  The parade will step off at 4:00 on the 28th at Lantern Road and 116th Street, proceed west on 116th Street to Holland Drive, north to the park entrance where it will disband at Ellipse Parkway and Holland Drive.  This is a fun event for all.

One of the best events is back again this year, the corn hole tournament!  It will be on Sunday from 10:00 a.m. to 4:00 p.m. at the Babe Ruth Diamond, just west of the Park Building.

There is an easy to follow Fishers Freedom Festival schedule of events so you can plan your weekend; have fun and stop back by and post a comment on what you did!

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

HVCC or “havoc” as I call it is changing the way appraisals are performed in all areas of the country, including the Fishers Real Estate market.  The Home Valuation Code of Conduct became effective on May 1, 2009.  It was developed by the New York State Attorney General and somehow became a National solution.  I use the term “solution” loosely.  I think the intent is valid and probably necessary, the execution has flaws.

The code requires a third party, called Appraisal Management Companies (AMC’s) to act as a liaison between lenders and appraisers.  In our area, one such company is called Streetlinks.  The essence is that lenders can no longer select qualified appraisers to complete the loan application.  They work through a third party and an appraiser is selected.  Here are just my favorite three problems with the current HVCC.

1. It can be an appraiser unfamiliar with the area/county that the selected property is in. 
2. The timing is up to the third party and can take up to 3 weeks to complete (this from my personal experience).  This will affect the consumer as they may require a longer rate lock period. It is an appraisal mess as Inman News puts it. 
3. The cost to have oversight will be passed on to the consumer and taken away from the appraiser.

I have interesting stories as this unfolds.  One appraisal used ONLY bank owned in the appraisal even though the neighborhood had other strong comparables.  I have seen buyers required to bring 8.5% rather than 3.5% as their down payment on an FHA loan as a result of the appraiser marking “declining market” on the appraisal. (I was able to pull comparables for 2008 and 2009 to get this changed; the benefit of having an experienced Realtor list your home!).  I have seen an appraisal for $210,000 and $228,000 on the exact same floor plan in the same neighborhood.  So, yes there are problems with the current HVCC and if you have read this post and some of the related articles, I hope you will go one step further and sign the HVCC petition.  There are currently 35,422 signatures as of June 19th.

Other Related Reading:

National Association of Mortgage Brokers Position Paper

Fannie Mae FAQ

Search homes for sale in Fishers by Neighborhood

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

This is a great clip from Keller Williams on the rise in Interest Rates and how it might affect a first time home buyers decision to purchase a home.

Specifically today; the rates are very favorable so if you have applied for a loan, talk to your lender about locking.  If you are beginning to think about buying a new home, you have about five months left to find the home, get the loan and close on the transaction and qualify for the $8,000 of monies, so please call me or email me today and let’s get you started!

Search homes for sale in Fishers by Neighborhood

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

I am seeing a lot of Fishers Homeowners in the $130,000 to $175,000 price starting to look for a “move up” home.  They have spent maybe two or three years and are ready to sell their home due to the strong first time buyer’s market for their home.

It was of course, easier when they bought that first home and knew exactly when their lease would be up to time the purchase of their new home perfectly.  It is much harder to determine when their current home will sell, so the option of a first right is being utilized more frequently.

A first right or contingency offer is when you agree to terms (purchase price, closing costs, possession, etc) on the new home, but the purchase agreement does not go into effect until the buyer sells their current home. 

The benefits to the buyer are that they have some valuable time to get their home on the market and sell it to avoid double mortgage payments.  The downside to the buyer is that they may end up taking less for their current home to be able to execute the first right and they will probably pay a little extra to get the home they want.

The benefits to the seller are that they have a willing buyer and if their realtor does their job, will be able to give them a good idea of when the buyers home may sell.  Another advantage is that the seller will probably get a better price by allowing the buyer extra time.  The downside for the seller is that their home will probably not show much after the first right is entered into the system if at all.  As realtors, we often encourage our clients to not select a home with a first right because their is already another party interested in the home.

Alternatives to a first right that avoids the downsides might be an extended closing date.  Normally a home closes in about 30 days; but a delayed closing could go out 60 days.  The buyer then has quite a bit of time to list and sell their home.  If they wrote a purchase agreement today (June 15th) and put August 15th close day on the Purchase Agreement; their first payment on the new home would not be due until October 1, 2009.  You skip a month when you purchase a new home.  This might give the buyer just enough “cushion” to feel comfortable moving ahead allowing them to negotiate more on the new home.

The seller may like this if they need time to pack or find their next home.  So, it can be a win-win for all the parties.

If you would like these concepts explained in greater detail, be sure to give your Fishers Realtor a call or email me directly.  Also be sure to check out other real estate terms I have explained to understand the real estate market better.

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

Owning a home in Fishers has many benefits; one is all there is to do!

The Fishers Freedom Festival is on June 27th and 28th. There will be entertainment, food, and a parade among other great things to do.

Symphony on the Prairie up at Conner Prairie at Allisonville and 136th begins on June 20th with the Grateful Dead!  I’m planning on being there for the Music of Harry Potter on the 26th and 27th of June and also for an evening with America on Thursday, September 3rd and Friday the 4th.  This is always a great time to meet up with friends and the community.  Be sure to look for me at the Symphony on the Prairie!

Visit the Fishers Farmers Market weekly for fresh offerings of locally grown vegetables, season fruits, perennials, annuals, cut flowers, specialty items such as honey, salsa, jams, meats, wine, doggie treats and delicious baked items.  Shoppers will enjoy a selections of fine, hand crafted items including purses, candles, soap, and jewelry, and a unique special event each month!

Enjoy great music at the Fishers Family Concert series and fun times with the whole family… bring a picnic and watch what happens!  It is on Tuesday nights from 7-9 p.m. on the lawn in front of Fishers Town Hall at 1 Muncipal Drive.

June 9 Meet the “Beetles”

June 16 Dave & Rae

June 23 Endless Summer

June 30 BBI

Stay tuned for the events for July and throughout the Summer; Fishers is the place to be!  Be sure to check out our other Hot Spots and Events and also have a look at our Fishers Market Reports that cover the Fishers Real Estate Market on a monthly basis.

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

Active Homes for sale in Fishers Indiana for May total 735.  What is most interesting is of the 189 new listings that came on the market in May, nearly 20% of them were from high end neighborhoods (sale price over $500,000) including Bridgewater, Canal Place, Lake Stonebridge, and Windermere Pointe.  This may tell us that consumer confidence is beginning to come back or it may tell us executive job loss is on the rise; what’s your call?

This market report covers the activity for May 2009 and is for both Delaware and Fall Creek Townships.   Please be sure to look at our Market Report category for previous month reports.  

Active Single Family Homes Listed in May                   189

Single Family Homes Currently Active                        735

Single Family Homes Sold in May                               140

Average Sale Price per sq ft                                     $96 (Nearly a 10% increase over last month)

Average Days on the Market                                      70 (Over a 25% decrease over last month)

The neighborhood with the most sold in May were Sumerlin Trails (7) and Sunblest Farms (8).  These are first time buyer priced neighborhoods so that makes sense to see those turning over more.  If we look at May of 2008, we had 167 homes sell, compared with 140 in 2009.  This is a 15% decline from 2008; this is still encouraging since our decline %ages have been in the 30’s for previous months of 2009 compared with 2008. 

What is, however, very interesting is the number of distressed homes (aka deals in Fishers Real Estate!) that sold in May.  In 2008 we had 5 or 3%; in 2009 we had 14 or 10%.

The most expensive home that sold in the Fishers Real Estate market was $1,155,000 this month in The Hawthornes near 106th and Geist Road.  It was on the market for 292 days. The lowest priced home was in Marilyn Ridge for $71,000 and it was in foreclosure. 

The neighborhoods with the most new listings this month include Brooks Chase (5), The Bristols (4), Woodberry (6) and Sunblest Farms (9).  You can search for any Fishers Real Estate for Sale by Neighborhood here!

The most expensive Fishers home listed this month is actually one of mine, at $2,200,000 in The Overlook and sits on hole 16 with over 11,000 square feet.

Finally, one last tidbit that I think supports the Fishers Real Estate market being hot. Of the 117 homes pended in May; 39 of them or 33% were on the market LESS THAN 30 DAYS!  Also of those 117 homes pended 44 or nearly 40% were less than $175,000.  The first time buyer is buying and in some cases, actually being too late to get the house they want because there is competition for that price point.

If you would like information about your specific neighborhood such as active listings, average price sold over the last year, or appreciation rates, please contact this Fishers Realtor.

Search homes for sale in Fishers by Neighborhood

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

Selling Fishers Real Estate lately has held its challenges.  There are appraisal issues, timing issues when a bank is involved and inspection issues that are much harder to resolve than they used to be.  One of the inspection issues we are seeing a lot of is Mold.  I asked Rob Rehm, one of the best home inspectors out there to write a guest piece for me on Mold.  So I present Rob’s article on Mold:

Mold has become a topic of concern over the past few years as we hear of homeowners facing possible health issues and the task of cleaning up mold problems in their homes. For obvious reasons this has gotten the attention of many homeowners and those who are planning to purchase a home. Currently, there is no standard among health professionals on what levels of mold are acceptable in a home. However, many homeowners and potential homeowners agree that the potential risk of mold-related health problems warrant attention. 

Excess Moisture is the Cause.  Mold requires a food source (such as wood or drywall in a home) and water or moisture. By eliminating the source of moisture (water leaks, excess humidity, condensation, etc.) you can stop mold from growing in a home. It’s that simple. Preventative maintenance is the key. However, finding water/moisture entry points and sources can be complicated. 

A Thorough Home Inspection will help identify moisture intrusion.  While specifically conducting a mold inspection is outside the standards of practice for a home inspector, a good inspector will examine the property for any signs of moisture or moisture intrusion issues. Any possible issues should be discussed and documented. If visible mold and moisture are discovered, it is important to keep things in perspective yet realize the potential risks of not correcting moisture related concerns. In many cases, homeowners can safely clean mold from the building surfaces on their own and make simple repairs to prevent further moisture intrusion. In fact, the Environmental Protection Agency (EPA) says: “If the mold area is less than about 10 square feet (roughly a 3 foot by 3 foot patch), you can handle the job yourself.” Remember, it is important to identify and eliminate the cause of mold rather than simply clean or cover up the problem. 

When is a Specialist Needed? While mold is an important issue and may be a health concern for certain individuals, it can often be remedied without major expense or inconvenience. However, when signs of extensive mold are found a professional should be consulted for proper remediation. In addition, should a homeowner or potential homeowner have specific health-related concerns, mold testing can be conducted to determine the types and quantity of mold spores — although no official standards have been established for unsafe levels. The EPA has guidelines for cleaning mold, but also suggestions about how to prevent the problems in the first place. For more information about mold please reference the EPA website at: www.epa.gov/iaq/molds/index.html 

Thank you Rob for giving my readers great information on mold!

Search homes for sale in Fishers by Neighborhood

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

Fishers home owners enjoy great schools, appreciating values in neighborhoods and many local events to enjoy.  Crime is not something that is talked about often here.  But, as summer approaches and people take vacations and are away from their Fishers homes, I want to at least publish some helpful phone numbers and links.  Fishers Crime Watch is a great resource to learn about setting up a neighborhood watch and they also have a link showing the crimes for various areas in Fishers for the month and various tips.

Here are some of the local numbers and links for you to use:

Fishers Police Department: 595-3300
Fishers Fire Department: 595-3200
Sign up for Fishers Alerts

Geist Patrol: 842-8082

Indianapolis Metro Police: 327-3811 (non emergency dispatch)
CrimeView Community (online incident map)
Sex Offender Search

McCordsville Police Department: 477-1144
Vernon Township Volunteer Fire Department: 911

Lawrence Police Department: 549-6414
Lawrence Fire Department: 549-4371

Search homes for sale in Fishers by Neighborhood

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