Jul
8
Fishers Realtor explains Days on Market
Posted by marchantteam under For Buyers, For Sellers, General Information, Real Estate Terms A-G
I think all of us use acroymns in our business and spout them off without thinking about whether the other person knows what it is. Real Estate is no exception. I thought I would explain one that is used all the time.
DOM is days on market. It is the number of days that a particular home has been on the market. This is a tricky one because at first glance you would think the list date on the MLS/BLC sheet to the current date would be the DOM. But here’s the catch. Some properties expire or some have a mutual release (they didn’t like their Realtor or some other reason) and they are then “re-listed” so that a new “list date” is the starting point.
When my clients want to know how long a listing has been on the market, my response is, “from the MLS sheet it says “x”, but I would need to check the history to be sure”. A home may look like it has just recently been listed, but in actuality it may have been on the market for years and just keeps getting relisted.
This is important because the DOM is a motivation factor. If they have been on the market a long time, they may be more motivated than if they just came on the market. A good Fishers Realtor will definitely run the history/archive on the property to ensure their buyer has full discloure of the DOM.
Be sure to look at all of the definitions of Real Estate terminology.
As an update on the Fishers Real Estate market, there are currently 872 homes for sale in Fishers and 191 of those are under $150,000. Interest rates are well below 5%; this might be the time to buy a home!
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Jul
3
Tax Credit Extended for Veterans
Posted by marchantteam under Buyer Information, For Buyers, General Information, Loans
With the holiday weekend, your Fishers Realtor is taking some time off. This is a guest post from James Kelly, a VA lender. James blogs on veteran’s issues and real estate across the United States and proudly serves American military families as the nation’s premier VA Lender.
This Sunday is Independence Day, and as you celebrate our nation™s independence this weekend, remember to thank the men and women who serve this great country and keep it alive.
If you are in the military or if you who know someone who is, there is some good news that you should be aware of: Service men and women can still purchase a home and receive the $6,500 or $8,000 tax credit that, for everyone else, expired on April 30. Also a good point: you can use a VA Loan to purchase the home, which has many benefits of its own, and still receive the credit.
To be eligible for the tax credit, you must have served at least 90 days overseas between Jan. 1, 2009 and April 30, 2010.
The credit is commonly referred to as the œ$8,000 first-time homebuyer tax credit, but do know that the credit isn™t automatically $8000; rather it is 10 percent of the home price up to $8,000. Also, a œfirst-time homebuyer means that neither you nor your spouse has owned a home within the past three years. If you are not considered a first-time home buyer, you are still eligible to receive up to $6,500 as a repeat buyer. There are a few additional VA home loan requirements, along with the service time, that you must meet in order to qualify for the credit (both for first-time and repeat buyers):
- The purchase price cannot be more than $800,000
- For single men and women, your annual income cannot be more than $125,000 annually
- Married couples who file jointly cannot have a combine annual income of more than $225,000
- You must be under contract by April 30, 2011 and close by June 30, 2011
Some have voiced concerns over the chance that they will have to relocate because of deployment, but feel safe in knowing that the bill states that they cannot reclaim the credit if you need to sell or rent your home.
While the credit is gone for the general public, it is great to see it is available for those that serve our country!
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Jun
28
Indianapolis Fireworks Locations and Times
Posted by marchantteam under For Buyers, For Sellers, General Information, Happenings
It is that time of the year and with all the rain we have had, surely the 4th of July will be perfect weather. Here a brief list of fireworks in the Indianapolis area:
Geist Blast from the Bridge is Sunday July 4th at 9:45 p.m. The Lawrence Township fireworks are also on the 4th at dusk.
The Downtown fireworks sponsored by Regions Bank are also on the 4th of July at 9:45. The Indians play baseball at home on both Friday night and Sunday night and both nights have fireworks; great place to enjoy an evening!
Symphony on the Prairie and the Star Spangled Symphony is July 2-July 4th, fireworks are each night.
Carmel Fest has their fireworks on July 5th at 9:45 p.m. At first I thought why on the 5th, but with so many firework displays on the 4th; I think it will be great to have one on the 5th.
Brownsburg and Noblesville have their events on July 4th too.
Once the 4th of July has past, the Fishers Real Estate and other Indianapolis area Real Estate markets pick up the pace. So if you have been waiting to put your home on the market, this may be the time to do it. We have so many people relocating into the Indianapolis area, one of them may want to buy your home!
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Jun
24
Fishers Realtor highlights Pine Bluff Overlook
Posted by marchantteam under For Buyers, For Sellers, General Information, Neighborhoods
Today, I want to highlight the neighborhood at 106th and just west of Cumberland. Pine Bluff Overlook has hills and winding streets and is fairly small with just 98 homes in the subdivision making it a favored choice for many.
There have been four homes that have sold in the last year; almost all of them in the $93/sq ft range. Pine Bluff Overlook does have some homes that back up to Cumberland and there is a fire station across the street (east side of Cumberland) so sometimes you will find homes selling for less than the average. On the flip side, often some homes located on the hills can have walkout basements getting more than the average price per square foot.
In reviewing all of the tax records, over 75% of the homes have basements ranging from just 600 sq ft to 2,000 sq ft. There is about a 50/50 mix on two car versus three car garages. Most are four bedrooms but there are a few with five bedrooms. Pine Bluff Overlook offers many different types of homes.
You can expect to pay about $250,000 to $275,000 for a home in this neighborhood depending on the above criteria. The dues run $275 annually. There are currently four active homes for sale in Pine Bluff today. They do sale relatively quickly, usually in less than 90 days so great neighborhood for resale in Fishers.
Be sure to check out our other Fishers Neighborhood reports and email or call your Fishers Realtor with any questions. I’ve love the opportunity to exceed your expectations.
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Jun
19
Selling Fishers Real Estate in less than 90 Days
Posted by marchantteam under For Buyers, For Sellers, General Information, Sellers Corner
There are currently 720 homes for sale in Fishers (I have excluded condo/townhouses). Of those 32% or 229 have been on the market more than 90 days. 
The longest has been over 1,000 days! When people search for a home for sale in Fishers and see one that has been on the market that long, do you think they will chose it to see? Even a Realtor ® may wonder what is wrong with the property. This particular listing has the first two digits of 27XXXXX; those first two digits tell us what year it was listed. At a minimum, why doesn’t the Realtor ® relist it rather than extend the expiration date? That way it will get a new listing number, 210XXXXX and refresh it to all people searching for a home in that price point or neighborhood.
I guess the bigger question is why are these homes still for sale? There are some reasonable answers, for example the home is over $1,000,000. There are 14 of those for sale. The pool of buyers is just smaller for those types of homes.
But what about the other 200 plus homes?
Several do not even have pictures and many more do not have virtual tours. In this day and age, buyers are searching the internet for their next home. They will and they do move right past the homes without pictures and without virtual tours. A couple even have pictures with SNOW in them. You want a Fishers Realtor that used a full toolkit of professional pictures, virtual tours, floor plans, staging, etc. to showcase your home.
Over 50 of these homes have not had a price reduction since they were listed. I have a strategy based on days and number of showings to make the most of each price reduction. Sometimes based on feedback and current market statistics, a price reduction is necessary.
I cannot look at the Internet exposure of each of these listings, but I can almost assure you they do not have the Internet exposure that my listings have. I pay premium dollars to Realtor.com and Trulia to give my listings more exposure in the form of placement and use of carousels. Your home needs to be everywhere on the Internet because that is where the buyers are.
Selling a home in Fishers does requires a Realtor ® who has experienced success and is willing to put a lot of effort into selling your home. It is more than putting a sign in your yard! It is getting the listing traffic, tweeking the home based on feedback, and negotiating the best price. The Marchant Team stats for 2009 show their homes sold on average in 62 days for 97% of list price. Experience matters.
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Jun
16
Fishers Realtor features Fishers Freedom Festival
Posted by marchantteam under For Buyers, For Sellers, General Information, Happenings
Alliteration fun with the Title! The Fishers Freedom Festival is next weekend, June 26th and 27th! Can you believe this is the 22nd annual? The event begins at (yawn) 6:15 A.M. with the 5K event registration, actual event is at 8:00 a.m. It is anticipated that there will be at least 1,000 people at this 5K event.
Riley hospital will be sponsoring a parade where kids will decorate their bikes, wagons or strollers; this event will be on Sunday the 27th at 9:30 a.m. The main parade will be at 4:00 p.m. on Sunday and will begin at Lantern Road and 116th and will proceed west on 116th to Holland Drive.
Some of the really cool events are the “Discover Scuba” sponsored by Indy MPH Watersports. This will be at the far north end of Roy Holland Memorial Park. You also might want to catch the Why Stop Now street dancers at 7:00 p.m. on Saturday. And only in Indiana…corn hole tournament at 9:00 a.m. in the southeast baseball diamond area on Sunday!
The fireworks will be at about 10:00 on Sunday; Big Daddy Caddy will begin playing at about 6:30. The entire event is FREE!
The Freedom Festival is quite an event for Fishers Real Estate residents; those living in Sunblest can just walk over and enjoy the weekend events. It is not a surprise to those of us living and working in Fishers that it continues to receive so many awards. There is always something happening in Fishers from free Tuesday night concerts, to great restaurants to Symphony on the Prairie! If you are visiting the blog as you prepare to make a move to Fishers, let me be the first to welcome you!
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Jun
11
Homes for Sale in Fishers with a Pool
Posted by marchantteam under For Buyers, General Information, Neighborhoods
Searching for homes for sale in Fishers with a pool is not something that is easy to do on many Real Estate websites. Most of the time your choices are limited to number of bedrooms and baths and square footage along with price. But what if you want an inground pool?
The best way to get the specific characteristic you want in your next Fishers home is to ask your Fishers Realtor to set up a search for you. We have additional search features that can be used to alert you the minute a home comes on the market with an inground pool, a fenced yard, a finished basement, a home on the cul-de-sac, a home without convenants, etc…you pick the characteristic.
For today, there are 35 homes for sale in Fishers with an inground pool. Of course, many of those are pricey. In fact half of them or 17 are over $750,000.
There is a brand new listing in one of my favorite neighborhoods at 8302 Fawnsbrook in Fishes for $319,000 with over 3200 sq ft but without a basement. There is also a ranch in Fawnsbrook with a pool for $339,000 that does have a finished basement.
The lowest priced home for sale in Fishers with an inground pool is located in Fox Run for $244,900 and it does have a finished basement. The home is 2400 sq ft with an additional 900 in the basement. My final great choice is in Carefree Estates and is a ranch with a finished basement for $329,900. This home is on almost an acre, so great lot!
If you would like to see any of these homes for sale in Fishers with an inground pool, let me know. I too, have an appreciation for these types of homes and love to show them.
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Jun
7
Fishers Indiana Real Estate Market Report for May 2010
Posted by marchantteam under Fishers, For Buyers, For Sellers, Marketing Reports
We saw April numbers soar, with a 25% increase over last April. But as I mentioned in the April Fishers Real Estate post with the first time buyers credit and repeat credit expiring on 4/30/10, those numbers may have been inflated. In looking at May 2010, we saw 158 homes sell in Fishers compared with 175 homes last May. This is a decline of 10% from a year ago and nearly the same decline from last month. I think June and July numbers will be much lower also.
What does this mean for buyers, good news. It means that some sellers will see a decline in showings and traffic viewing their homes and their motivation may begin to rise. This increase in supply may mean better pricing for buyers.
There are two primary statistics to look at in analyzing the monthly real estate reports. They are days on market and $ per square foot sold. The days on market were 66 this May compared with 72 last May so a nice improvement. I think most sellers would be thrilled to sell their homes in 66 days!
The overall price per square foot sold is very general and does vary by neighborhood. But for May the overall number was $94 compared with $95 a year ago; so about the same.
There were just a handful of luxury homes (over $500,000) selling this May compared with 8 a year ago.
The Fishers neighborhoods that sold the most are the usual ones with Sunblest Farms (8), Summerlin Trails (4), but we had some new neighborhoods in Fishers make the list this month. Woodberry sold 6 and Sandstone Meadows sold 4 and Eller Run sold 4.
There are currently 203 homes pended and just 69 of those pended in May.
If you are a first time home buyer, we have a great class that teaches you about the process, the lending requirements and what a home inspector is likely to find. Please register to attend! It appears that the interest rates are low and the motivation of sellers may be on the rise.
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Jun
2
Fishers Realtor shares Top 3 Search Tools
Posted by marchantteam under Buyer Information, For Buyers, For Sellers, General Information
After a crazy Spring, I am beginning to see signs of buyers reentering the Fishers Real Estate market. Some of this is the normal Spring time “I want a bigger or smaller house” buyers and some of it may be due to the lower interest rates, they were 4.75% last week on a 30 year fixed!
Many of you who read my blog know that I was an Accountant for St. Vincent Hospital before I became a Realtor many years ago. So I feel compelled to tell you that the difference between 4.75% and 5.00% on a $200,000 mortgage would be about $32.00 a month or $11,000 plus over the course of the 30 year loan.
On to the Top 3 Search Tools! I think that the Marchant Team has some of the coolest tools to make searching for a home easier and more convenient. So, here they are:
1) We have a tool called Smarter Agent that allows you to download an application to a “smart phone”; it does not have to be an I-Phone although it can be. This application lets you stand anywhere outside and see all the active listings in a 5-10 mile radius. It gives you the pictures, details about the listing and of course pricing. All you need to do to access this tool is text “MTEAM” to 87778 and that’s it! You will love this tool and no one will call you back or even know you are using it.
2) The next tool does require a contact to your favorite Fishers Realtor 
for the phone number. I have a phone number that you can call to get any pricing on any active listing you see. So you are going to a graduation party or summer event and you drive into the neighborhood and see an old Victorian that you are curious about. You just dial this number, input the house number and wait for the information. The only person that will know that you called is me.
3) The third search tool is for anyone that has said, “when a house in “x” neighborhood goes on the market, I will buy it”. We have developed a Search by Neighborhood in Fishers so that you can just click on the neighborhood at our website and it will show you all the active listings. This is updated real time so always current.
Along with those three, we offer relocation tours and binders so that someone moving into our area can read about all the great things Fishers and Indy have to offer. In addition we have a relocation calculator so that if you want to compare salary or cost of living, you can. We also have first time home buying classes the last Thursday of every month in Fishers. Finally, I can set up searches for you so that are notified immediately when the Fishers home for sale that you want is available!
Always striving to be the best Fishers Realtor I can be!
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May
27
Fishers Realtor highlights Fishers Summer Concert Series
Posted by marchantteam under Fisher Events, For Buyers, For Sellers, General Information
With just a few days left, the Fishers Summer Concert Series will kick off on June 1st with Living Proof.
This is a great event for Fishers residents, especially those that live within walking distance such as Sunblest Farms! The event takes place on the lawn in front of Fishers Town Hall on 116th between the Train Station and the Post Office. It is held every Tuesday night from 7:00 to about 9:00 p.m. Parking is fairly easy at the Roy Holland Park, near Greek’s Pizzeria on 116th or the lot east of Archer’s.
The Fishers Summer Concert Series has the following line up:
- Living Proof (R & B) June 1st
- Peace Train (60s and 70s) on June 8
- Big Daddy Caddy (Variety) on June 15
- Toy Factory (R & B) on June 22
- BBI (Variety) on June 29
- Paul Butler & Partners in Crime (Elvis Tribute) on July 6
- Dave and Rae (Pop) on July 13
Living Proof is a 7-piece R & B band that reminds many of Earth, Wind and Fire. In fact they opened for the legendary band in Chicago. They have also opened for Chicago (the band) and K.C. and the Sunshine Band.
You should plan to bring blankets or lawn chairs and a picnic if you want. Also, the Hamilton County Harvest Food Bank would appreciate any canned goods.
The Fishers Summer Concert Series began in 2003 with attendance of 2,100. Attendance in 2009 grew to an amazing 23,000. It is a block party type atmosphere and encourages fellowship and time with your family.
I am usually roaming the crowds with a red T-shirt that says “Worth the Read” and “MyFishersBlog” on the back. I almost always have things to hand out (chip clips, magnifying glasses, hand sanitizers) so be sure to stop me and say hi to your Fishers Realtor!
It is also still a great time to buy a home, the rates today were 4.75% ! There are currently 786 homes for sale in Fishers and 166 of those homes are less than $150,000. There is a blue button below that will take you directly to a map search of those homes (maps are nice to show you east and west of I69).
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Cindy œin Indy Marchant - Fishers Real Estate Agent
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