May
12
Top 5 Buying Secrets
Posted by marchantteam under Buyer Information, For Buyers, General Information
Spring is here and if you are planning to buy a home in the Fishers Real Estate Market, here are my Top 5 Secrets for making the process successful:
1) Know the difference between Pre Approval versus Pre Qualified and get Pre Approved. Don’t just spend a few minutes on the phone with a lender and get a letter; but rather spend time with the lender and give him or her the appropriate documents so that you are Pre Approved. The market is shifting again, specifically in the first time buyer market. Houses are seeing multiple offers and price is not the only factor for a seller to choose their buyer. A buyer’s financial strength will matter, play competitively.
2) Make your offer with as few contingencies as possible, most certainly do not make it contingent on selling your home. There is a season where that works well; it is winter. During the Spring months there is too much competition to tie your offer to any contingency.
3) Have a list of your “must have” and “wants” ready; without it you may find yourself drawn to those homes where decorating influences you. For example, I had a buyer that had to have a large fenced yard. We walked through a home that was tastefully decorated right out of Pottery Barn with a postage stamp yard. It is hard not to fall in love with the look and feel sometimes and still keep the functionality in check.
4) Don’t feel pushed to buy a home. As your Fishers Realtor, I will pull the comps, give you website for crime statistics and encourage you to visit the home/neighborhood during different times of the day to be sure it is the right home for you.
5) If it is the home for you; try not to mull it over too much or bring in various family members for their opinions. In this market, when you are sure it is the home for you, you need to put the offer together to ensure you get the home.
There are many factors to consider in buying a home in Fishers and these are just my Top 5 Secrets or things to consider. I’ve included some additional reading below. I would encourage you if your are a first time buyer to attend our first time buyers class held every month on the last Saturday; check our Fishers Real Estate Website for more registration details. If you are a move up buyer, please be sure to visit our website where you can search for your new home by either price or by neighborhood (Fishers, Carmel, Geist or Noblesville) or call me and I’ll set up the search specific to your criteria.
As always, be sure to post your questions here and I’ll try to answer as many of them as I can.
Related Reading:
Five Things you Need to Know before Buying a Home
Using the Best Real Estate Agent to Find your Home
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
One Response to “Top 5 Buying Secrets”
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May
8
Fishers Indiana Real Estate Market Report for April 2009
Posted by marchantteam under Fishers, For Buyers, For Sellers, Market Reports, Marketing Reports
Active Homes in Fishers Indiana for April total 737; something for everyone! This market report covers the activity for April 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 April 184
Single Family Homes Currently Active 737
Single Family Homes Sold in February 113
Average Sale Price per sq ft $89
Average Days on the Market 103
The neighborhood with the most sold in April were Sandstone and Sunblest. These are first time buyer priced neighborhoods so that makes sense to see those turning over more. If we look at April of 2008, we had 122 homes sell, compared with 113 in 2009. This is a only a 5% decline from 2008; this is 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 April. In 2008 we had 8 or 6%; in 2009 we had 18 or 16%.
The most expensive home that sold in the Fishers Real Estate market was $535,000 this month in Brooks Park near 104th and Olio. It was a custom home built by RC Tucker Homes. The lowest priced home was in Sunblest for $87,000 as a bank owned. This home had nearly 2,000 sq ft of living space and was assessed for $156,000. That was a deal for a home in Fishers!
The neighborhoods with the most new listings this month include Brooks Chase (9), The Bristols (8) and Sunblest(7). You can search for any Fishers Real Estate for Sale by Neighborhood here!
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 œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
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May
4
MIBOR Data is out for Indianapolis Real Estate
Posted by marchantteam under Fishers, For Buyers, For Sellers, Market Reports, Regional News
The MIBOR (Metropolitian Board of Realtors) March 31,2009 data is out for the Indianapolis Real Estate market. Let’s first look at it the statistics for 2008 and 2009 for the three months ended March 31 and also the six months ended March 31st. This is for all counties in the Metro Indy area.
We can see that the percent changes from a year ago whether we are looking at the three months or the six months are all negative.
The number of homes sold for the first three months of 2009 were 4,386 compared with 5,656 a year ago or a 22% decline.
The average sale price in 2009 was $122,559, down from $139,728 a year ago or a 12% decline.
For the six months period we see a decline of 19% for homes sold 2009 compared to 2008 and and average sale price decline of 11%.
This next graph shows us homes sold for the first quarter by county.
For Fishers Real Estate that would be Hamilton County. We see a decline of 29% from 2009 to 2008 for the first three months. It is interesting to see that Hamilton County is the 2nd largest population moving, behind Marion County.
The highest decline was in Putnam and Decatur counties.
This final graph shows us the data by price point. It is somewhat amazing how the higher the price the higher the negative percent change. If you were in the less than $75,000 range, your percentage change was nominal; you sold about the same in each year. But if you were in the over $1,000,000 range; you sold 65% less in 2009 compared to 2008 for the first quarter. 
Search homes for sale in Fishers by Neighborhood
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
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Apr
30
Search Fishers Homes for Resale by Neighborhood with One Click
Posted by marchantteam under Fishers, For Buyers, For Sellers, Market Reports, Marketing Reports, Neighborhoods, Tips and Random Thoughts
Have you ever wondered what the prices are for homes for sale in your Fishers neighborhood? I have created a unique Fishers Real Estate tool that you can bookmark and use for future reference. If you don’t find your Fishers neighborhood in this table, let me know and I will add it.
I have included the table below but will also give you the link in case you want to bookmark it. Fishers Home Search by Neighborhood is updated real time so you will always have the latest information. If you are curious about how much a home sold for, you’ll need to contact me directly. I cannot link to that specific information.
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
One Response to “Search Fishers Homes for Resale by Neighborhood with One Click”
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Cindy,
These links are so convenient for Fishers home buyers. I can tell you put a lot of work into this post. I’m going to have to ‘borrow’ your idea:)
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Apr
26
Fishers Realtor Celebrates her 100th Post with Red Day May 14, 2009
Posted by marchantteam under Fisher Events, For Buyers, For Sellers, General Information, Tips and Random Thoughts
I have written many posts on Fishers Real Estate, Fishers Neighborhoods, Appreciation Rates in Fishers with Market Reports, Hot Spots and Events in Fishers, Indiana. But, in celebration of my 100th post, I want to take time to talk about Keller Williams and RED Day. This stands for Renew, Energize and Donate. It is the hope of Keller Williams that together, we can make a difference!
On May 14th all across the country, Keller Williams associates (nearly 75,000) will be giving back to their communities. In the Indianapolis area, the four KW offices with over 200 agents are focusing on the parks in the area. We will be landscaping, picking up trash, painting play area equipment and hoping to beautify the areas the children of our community play in each day. The Fishers Real Estate office will be focused in Hamilton County.
This giving back to the community is in honor of Mo Anderson. While she has held many leadership positions within Keller Williams, her current focus is cultivating the culture for Keller Williams. She founded the KW Cares in 2003 to help company associates and their families in need. KW Cares gave millions to Hurricane Katrina victims.
Offices in other areas of the country are doing great things. The Keller Williams in Lake Norman, North Carolina are collecting gently used clothing and allowing people in need to shop at the Keller Williams Closet! The Keller Williams in Boise, Idaho are loading backpacks with essential items for children in need. My friend Missy Caulk in Ann Arbor talks about a food drive they are doing on RED Day!
You say you want to help, that’s great! While the people at Keller Williams are Realtors ®, we are people in your community and we want to help! If you would like to join us, please contact me at cindymarchant@comcast.net and we’ll get you signed up and order you a T-shirt! What a great way to involve all of us to make a difference. I’m in, are you?
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
2 Responses to “Fishers Realtor Celebrates her 100th Post with Red Day May 14, 2009”
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This is exciting, I can’t wait to see the effect we can have all over our communities.
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What a great work for realtors to be involved in! And I know you’re going to have fun serving others, too.
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Apr
22
Assessed Value vs Appraised Values vs CMA or What is the Value of your Fishers Home
Posted by marchantteam under For Buyers, For Sellers, General Information, Real Estate Terms A-G
Appraised values of homes are definitely a barrier to a successful close in today’s market. While the Fishers Indiana Real Estate Market remains strong, there are pockets of declining values in various Fishers neighborhoods. Appraisers are only going back three months currently and picking up those declining values in appraising current sales.
I want to talk about the definitions of Assessed Values and Appraised Values and how they both differ from a CMA (Competitive Market Analysis). An Assessed value is the value put on your home by the town’s assessor and it is used for tax purposes. It is much more global in nature. The Assessor will not enter any homes and will not consider any updates or lot premiums. They typically use a much more global look at the properties. In many cases, they are not updated on any regular basis.
An Assessed value “may be” close to the market value of a home if it is in a Fishers neighborhood with very similar homes such as Woodberry or Brooks Chase. However, it is not of much value where there are a variety of homes and lot premiums or where there are older homes that may have updates.
Appraisals are performed by a certified appraiser; they most likely will enter the home. They will notice updates and will give extra $$ for premium items such as additional bedrooms, larger garages or nicer lots. Typically, they will not give what a buyer would pay for those premiums. For example, a third car garage will only get you about $2,500 from an Appraisor or a 1/4 acre lot to a 1/2 acre lot will get you an additional $2,500. However a buyer will often pay more for that third car or larger lot.
When you have a very unique home; sometimes it is worth determining the value from an appraiser prior to listing the home.
I have seen transactions this year where the appraisal has come in less than the agreed upon purchase price; so appraisals ARE coming in low. There are various solutions I have seen to this problem; let me know if you want more details on those options.
A competitive market analysis (CMA) is performed by a Licened Professional, in this case a Fishers Real Estate Agent. I will enter your Fishers home and do a thorough walk through and ask you questions about various updates. One of the major differences for a CMA is that I will consider the competition as well as the pended and solds in the area. In addition I will look at the absorption rate. I do this to price a home and to determine the validity of the sale price of the home when I am representing a buyer. This extensive homework can be used to “argue” the appraisal sometimes so be sure it is done when you list your Fishers home.
I would like to thank one of my readers for giving me this post idea; he had asked me to explain this and hopefully this is a bit more thorough than the email I sent. I encourage all of my readers to ask as many questions as you can to me; I want to be your resource!
Search homes for sale in Fishers by Neighborhood
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
One Response to “Assessed Value vs Appraised Values vs CMA or What is the Value of your Fishers Home”
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Cindy, you’ve written a good post clearing up the differences between the different values a homeowner in the Fishers Real Estate market has to understand. It can be confusing to homeowners, for sure.
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Apr
18
Fishers Short Sale and Pre Foreclosure Picks
Posted by marchantteam under Fishers, For Buyers, Listings, Short Sales
Each month, I am going to highlight my top foreclosure and short sale picks for Fishers homes under $200,000. With interest rates low and many homes still on the market; it is a uniquely great time to buy. Keep in mind; these types of homes do require the patience of Job!
These are the five Fishers homes for April:
12849 Longleaf in Sterling Green is listed at $114,000 which is $84/sq ft compared to other homes on the market in that neighborhood at $105 as an average per square foot. The average for homes that have pended or sold in the last six months is right at $96/sq ft. If I look at the solds for short sales I see the prices much lower; two such homes sold for $95,000 and $103,000 recently. This homes is 1,352 sq ft with three bedrooms. It went on the market January 1st.
12924 Sweet Briar Parkway in Sweet Briar is listed at $129,900 which is $91/sq ft and compares somewhat similarily to other homes in the neighborhood. This one would only be a “deal” if you were to get it at a substantially lower price. However, there are very few ranches in this Fishers neighborhood so you would own one of the least expensive homes and benefit the most from appreciation in Sweet Briar. It is listed in “great condition” so if you want a “fixer upper” this one isn’t the one for you. But if you are looking for a home to buy to “rent”; this is a great choice.
6103 White Birch in Eller Commons is listed at $130,000 which is $84/sq ft compared to other homes that have sold in Eller Commons at over $100/sq ft. It is the “best deal” in Fishers Real Estate out there at this time at this price point. This is a 1,540 sq ft ranch with three bedrooms and a sunroom!
My last two picks are in Foxrun and Gatewood; email me at cindymarchant@comcast.net to get the scoop on those last two as well as any other homes you have interest in!
Search homes for sale in Fishers by Neighborhood
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
One Response to “Fishers Short Sale and Pre Foreclosure Picks”
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Cindy, this is a great idea! Such good information for Fishers Real Estate buyers. There are super deals to be had, now people can find them on your blog.
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Apr
14
Fishers Indiana Short Sale Success Video
Posted by marchantteam under For Buyers, General Information, Short Sales
The Fishers Real Estate market has great opportunities for First Time Home Buyers or just buyers looking for great deals. This is a video of one of our clients who wanted to share his successful experience at buying a short sale.
The MIBOR system that I use to find homes for my clients has many more options than a consumer search model has, for example I can find homes with fences, homes with islands or walk in closets, etc to help narrow the choices to the ones that best meet my clients needs and wants. One of the options I have is for “Distressed Properties” so please let me know if I can set up a specific search for bank owned or short sale homes for you!
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
4 Responses to “Fishers Indiana Short Sale Success Video”
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Just found your blog through Google, and I have to say I thoroughly enjoy it.
Thank you for the info. I’m looking forward to the additional valuable information here.<a href="http://www.staelena.com/">Real Estate For Sale</a>
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That is great to hear that you enjoy the blog; hopefully we’ll get to meet sometime!
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Great success story for a first time short sale buyer. Nice video testimonial!
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Apr
10
Fishers Hair Salon Gives Back to Community
Posted by marchantteam under For Buyers, For Sellers, General Information, Happenings, Hot Spots
I write about Fishers Real Estate all the time, but I think it is also important to highlight local businesses and events in Fishers. I am not only a Realtor ® in Fishers, I am part of your community. Here is one about a local business worth reading!
Local hair salon, Kiss Kiss Bang Bang is giving back to the community!
We know the unemployment rate is higher than ever. In fact, the unemployment rate in Indiana reached almost 10% in February of 2009. Hoosiers are trying to find work! This hair salon wants to reach out and give a boost to the Indianapolis area in the best way they know how; cutting hair and building confidence.
Kiss Kiss Bang Bang knows how important your personal appearance is during your interviewing process. They are offering free haircuts on April 26th from 11:00 a.m to 5:00 p.m.
They are located at 8395 East 116th Street in Fishers and their phone number is 915-0100. You will be asked to present you proof of unemployment at the time services are rendered.
Search homes for sale in Fishers by Neighborhood
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
Leave a Reply
Apr
6
Fishers Indiana Real Estate Market Report 2009
Posted by marchantteam under Fishers, For Buyers, For Sellers, Market Reports, Marketing Reports
The 1st Quarter 2009/2008 Real Estate Market Report for Fishers has some very interesting information in it.
In this report we will include both 46037 (Fall Creek) and 46038 (Delaware) comprising the Fishers Real Estate Market Report.
What is interesting to note is that the higher end market is not doing as well in 2009 with only 27 homes over $350,000 selling compared with 48 in 2008.
It is no surprise, that overall, we are seeing a 27% decline in homes sold from 2008. We saw only 227 homes sell in the first quarter of 2009 compared with 311 last year. In addition, we are seeing longer days on the market in 2009 (15%) and a lower price per square foot (4.4%).
The last note on this chart is the number of distressed properties; I am somewhat surprised that the numbers in 2009 are not significantly higher than in 2008. We are only seeing an additional 5 more properties.
Neighborhoods seeing the highest number of solds during the first quarter of 2009 are:
- Sunblest 11
- Brooks Chase 9
- Sandcreek 9
- Sandstone 8
- Woodberry 8
All of these neighborhoods are what we would term “starter neighborhoods” that are typically less than $150,000. I think this is validation that the Stimulus Plan for First Time Buyers is working. We are seeing more homes in the lower price point sell than in the previous year. I am cautiously optimistic this is a glimmer of hope we need to move the housing market back to normalcy.
If you are thinking of buying a home this year; there are many things in your favor. The inventory is high, interest rates are low and sellers are motivated. Be sure to check out my post on 10 Questions to Buying a Home for great information on the process.
Search homes for sale in Fishers by Neighborhood
Cindy œin Indy Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775
One Response to “Fishers Indiana Real Estate Market Report 2009”
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I’m surprised that there aren’t more distressed properties too. Maybe the stimulus package is working for buyers and sellers in Fishers. And maybe we shouldn’t believe the Hype about foreclosures (unless we live in Ca, or FL)!
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Indianapolis/Fishers Real Estate is authored by Cindy Marchant
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Cindy, you’ve written some concise tips for Fishers home buyers. Tips 4 and 5 are so true. Buyers sometimes hesitate at the wrong time, overanalysing. Then at other times, they can rush in at the wrong time. Best to have valuable Fisher’s Real Estate Agent like Cindy to guide you through the process.