Indianapolis Real Estate News And Information From HomeToIndy.com

Many Indianapolis home sellers prepare their home for listing with cosmetic changes such as paint and reflooring, but 'green' thinking can give an additional boost to value and grab a federal subsidy.

Homeowners who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in their home can receive a tax credit of up to $500 from the IRS. 

In addition, 30% of the purchase cost for qualified solar cells and for solar water heating (used exclusively for purposes other than heating swimming pools and hot tubs) can be refunded, too -- up to $2,000 per household . 

There are more energy-saving credits available, too. The U.S. Department of Energy lists all of the credits available to homeowners and those credits come right off of your tax bill come April 15. 

A home on the market that...

While perusing the paper this past week, I came across an article describing the new trends in home building. Although it was originally published in another city, the new design and amenities buyers want in custom homes can be found in many neighborhoods in Indianapolis.

What are the hot ticket items buyers are looking for?

Master Bedroom Suites on the Main Floor Level

No longer just a master bedroom, and no longer relegated to the upstairs, Master Suites provide a sanctuary of privacy within the home. The preferred location is on the main level.Today’s master suite is larger, with a sitting area or sitting room....

We have finished the remodel of the bathrooms in our home. I don’t recommend people remodel when selling their home. In our case, it was necessary.

We have loved this home in it’s prior condition; now, it is even more beautiful! It isn’t the granite or tile floors, the pool or covered patio, although they are great features; It is the memories and family time spent here which have made it home.

It has taken us longer than anticipated to complete everything and in the mean time, I have had a few opportunities to go back to Phoenix and visit.

This week, while I was here, my daughter and grandchildren from Columbus, Ohio, came out for a visit, so we have captured a few more memories…….to last a lifetime. It’s been a lot of fun and sometimes frustrating getting everything in place; finally, we are ready. Our home is staged and ready to sell.

If you are looking for a great home in Phoenix – I know such a place....

M&M’s…………….or chocolate in any form. He did have cereal and blackberries first.

Mortgage financier Fannie Mae is toughening its mortgage application decision-making process effective Monday, June 2, 2008. The new guidelines will force many Americans to face higher mortgage rates, higher loan fees, or to be shut out from 'prime' mortgage rates altogether.  The new 'mortgage rules' include the following changes:

1. Higher income levels required for basic approvals
2. Interest only loans are now considered high-risk
3. Condos are now considered high-risk
4. 60-day mortgage lates within 6 months are a major red flag

Not all of the changes are for the worse, though.  In the new guidelines, self-employed borrowers will no longer be viewed as more risky than a W-2 employee.  This will help small business owners and commission salespeople get more mortgage approvals than in the past. Fannie Mae agreed to...

How’s the real estate market? Depends on who you ask or what you read. You don’t have to look far to find bad news. I pass by most of the articles written by mainstream media. They are all about sensationalism and beating a dead horse!

One such report this week indicates homes across the nation have lost an average of about 14% of their value. 

Truth: some areas have lost more, some areas have seen property values increase. Another article printed yesterday by Money Magazine is just the kind of advice buyers and sellers don’t need. Don’t get me wrong; much of what Ms. Gengler had to say was not bad advice in theory, but it certainly wasn’t new.

Except…..Her opinion about how much buyers should offer on a home was way off base. There may be some markets where her advice would work. For the real world of ...

The phone rings – it’s someone I’ll call Mr. Boston, asking about negotiating a price on property. The conversation went something like this. Mr. Boston – Yes, I received an email from your team about negotiation. I was wondering how you structure and negotiate an offer.

Okay, says me……..what specifically can I help you with?

Mr. Boston – How much off of a home can someone expect to offer in Indianapolis? What would be your strategy?

Me: There is not a standard, there are actually homes on the market which are priced correctly and selling quickly. My strategy would depend on the home, location, neighborhood, amenities, how long the home has been on the market, recent comparable sales……..

Mr. Boston: What if the home has been on the market for three to four months?

Me: There is no way I can determine a fair offer price on a home without knowing anything about the home. There are...

To the brave men and women who have given their all to serve our great country. I thank you and remember your bravery and sacrifice!

This was recorded at the Verizon Center in Noblesville, Indiana.

Tracking data and statistics for the real estate market in Indianapolis and the surrounding cities I work can often be a challenge. I have tried several different formats using data from our local Board of Realtors.

I have recently added market data graphs and statistics provided by Altos Research. I love numbers and statistics!  

The people at Altos Research make it easy for me to provide the Indianapolis real estate market statistics in an easy to understand format.

I will continue to add more areas  – for now – you can find information about the following areas by clicking the link. You will also find a link on the right side of my website.

The information is updated daily, so check back often.

Indianapolis...

When people find out I moved back to Indianapolis from sunny Arizona, they always ask Why?

Here’s one of four reasons – the fourth grandchild. There’s also brothers, sisters, my Dad, lifelong friends, family cookouts, celebrations and get togethers.

But….the grandbabies, they get preferential treatment. And, do they know it!

A Rant!  This week I am in Arizona while we have new carpet and tile installed in preparation for listing our home next week. Another goal was to get estimates for moving when we do sell.

I called a couple of different companies we have used before, Mayflower and United Van Lines to set appointments.

While speaking to them, they understood we would be listing our home next week. I had one appointment set for today and one for tomorrow.

Rose Mary, from United Van Lines came by today. She was professional, efficient, very pleasant and fun. Since we are paying our own move, she was very helpful with suggestions about ways to save money on the...

This was a statement from a negotiater for a bank I am working with in a current short sale. Her intent was to explain why she is behind with 70 files on her desk. Her actual statement was, “Have you heard the news, everyone wants a short sale?”

I beg to differ with her. The people I work with who need a short sale approval do NOT want a short sale. They wanted to live in their home or at least try to sell it before they missed payments. They didn’t expect to lose their job or have a financial turn of events in their life. It just happened!

As a matter of fact, two of my current clients never heard of a short sale until they called their bank to try to arrange some type of payment plan. The voice on the other end asked them if they wanted to do a short sale. After determining it might be an option, they contacted me and asked about the short sale process.

I’m sure there are ...

Indianapolis will host the 2012 Super Bowl. :)

In the course of a week, I receive at least 3-4 inquiries about rentals or lease options. This month I have seen more than usual. I have actually had four different people email me about the same downtown condo. I believe it's related to the fact there are no longer 100% loans available and those who thought about buying are now looking at other alternatives, while they save their down payment and/or closing costs. Other factors include home owners who went through foreclosure or short sale and are now renting.

One thing which always come out of my conversation with those who call me about lease or lease/option is, the dream of home ownership is alive and well. Many are tired of renting; they want a bigger place, a place of their own. Now may be the time to act.

Recent news in the Indianapolis Star indicates the occupancy rate downtown has reached it's highest peak since the mid 1990's, with only 4.6% of rentals...

Avon Indiana’s finest neighborhoods offer luxury living at it’s best. There are several neighborhoods in Avon featuring homes built by Indy’s top home builders.

Build your custom dream home or choose an existing home in one of these distinguished Avon neighborhooods.

Homes in these communities start at $400,000. to over $1,000,000

Parks at Prestwick

Parks at Prestwick, located in the southwest corner of Avon is built on a nature preserve, with rolling hills, trails and wooded lots. Choose a home overlooking the Prestwick Country Club and golf course or a secluded home amongst trees. Amenities include a community park, basketball court and swimming pool.

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You don’t have to search too long to find bank owned homes in the Indianapolis Metropolitan area. There are plenty around town and more than likely some are really good deals. Banked Owned Homes or REO (Real Estate Owned) properties are homes which the owner defaulted on. The home has been foreclosed on, went to the Sherrif’s sale, and no one bought.

Now, the bank has it in it’s portfolio. I have heard banks don’t like owning real estate in this manner. I’m sure they like owning real estate, just not the real estate on their books as non-performing assets. I have also read banks are willing to assist those who have fallen behind on their payments. I’m not sure either of these statements are true. The banks and lenders I have worked with seem to stall every chance they get.

My team and I have represented several homeowners in the ...

As part of my listing agreement with my clients, I offer a complimentary staging consultation. Many ask me if staging is really a benefit. Although I believe it is, it really doesn’t matter what I think, it is the buyer’s we really want to impress. Are we trying to deceive the buyers? Not at all!

What we aim to do with staging is present the home in it’s best light, maximize the space, therefore, giving the buyers an idea of what type, style and size furnishings will fit in each room. When your home is on the market, being conscientious of the flow of the space and the blend of colors you use is important.

Our goal is to appeal to the largest amount of buyers in the market for your home. When you decide to sell your home, you have to move out emotionally before the SOLD sign is up and moving day has arrived. I have written about ...