Indianapolis Real Estate News And Information From HomeToIndy.com

This post is by an industry colleague, Jeff Echols, of Renovation Resources. If you have a question for Jeff about renovation and remodeling, be sure to ask. Welcome, Jeff!

I write a free, monthly, electronic newsletter for my company, Renovation Resources. Like blogging, the obvious key to success in this area is selecting the relevant topics every month. One thing that s been on most peoples mind over the past couple of months has been property taxes. Theres a topic. But it s worn out, overly negative, and too emotionally and politically charged. But still, it s an important topic and better yet, it may have big implications for the remodeling / renovation market. I started talking to everyone I know, from Realtors like Paula Henry to Real Estate Investors to Contractors to Mortgage Brokers to Homeowners. I was...

Although I have been back a while, I recently submitted my post to I Choose Indy . The website is a tribute of sorts to those who choose to live in Indy. There are many reasons to choose Indy as home, mine has to do with family and quality of life ( no more two hour commutes in traffic) the seasons, (fall is my favorite), and Hoosier Hospitality.

Here s the post I submitted to I Choose Indy! In the summer of the late 60's, my family decided to leave Louisville KY. to start a new life in Indianapolis. You could say Indianapolis chose me! With six children in tow, my parents settled in the area now known as South Broad Ripple. Back then,...

 
We relocated to Indianapolis to be home where our family is and have maintained our home in Phoenix Arizona. We have now decided to put our home in Phoenix on the market. While I have been in Phoenix for the last 10 days, I have looked at a few of the homes on the market which are my competition. This has given me a good idea about what I need to do to get mine ready.

When we purchased this home, we had our work cut out for us. It is a 1979 Territorial style home with a flat roof (a foreign design to Hoosiers). Many of the interior items are the original and the exterior was; let’s just say, it was in need of attention. Since we have been here we have painted, installed...

Just mention the word Indianapolis and it conjures images of auto racing. We now have to add Brownsburg Indiana to the list of major racing cities.

In the April 2007 issue of National DRAGSTER The Indianapolis suberb of Brownsburg was dubbed the New Drag Racing Capital of the World .

David Powers Motorsports, one of the National Hotrod Associations leading top-fuel drag racing teams, has announced it will relocate it s Houston based headquarters to Brownsburg. The race team will invest more than 3 million dollars to locate a 30,000 square foot facility in Brownsburg, housing their headquarters, garage and a testing facility and create 42 jobs.

Many racing teams have already made the move to Brownsburg: Kenny Bernstein Racing recently brought his top-fuel dragster and funny...

There are many factors to consider when purchasing a home besides the size and location. When considering the purchase of a home which is governed by a Home Owners Association, you need to confirm the CC&R's or Covenants, Conditions and Restrictions allow you the flexibility to live and enjoy the lifestyle you want. Every HOA has different guidelines and restrictions; some are much stricter than others.

While many enjoy the benefits a Home Owner Association provides in the development and continuity of the neighborhood, there are others who refuse to live in such a neighborhood. Some of the more common restrictions Indianapolis home buyers should be aware of are:

* Fences - Some neighborhoods do not allow fences at all, while most have definate guidelines in place for the style, heighth and placement of fences. Many Associations also do not allow the drainage area around the property line to be fenced....

My daughter was sitting with me at the computer one night, looking at homes on the MLS. She and her husband are thinking about buying a new home, maybe getting something a little bigger. When we came to a home with no pictures,

I would stop to read the info - does it have a basement, square foot, bedrooms, etc. She said, 'forget it, why don't people post pictures with these homes'? Her question was valid! I had to tell her I honestly have no idea. She knows I tote my camera everywhere and am perplexed at the absence of pictures in the Indianapolis MLS.

Now I know there may be a few homes on the market, where, there is no way around it, you just can't get a good interior shot. I think at least one...

I love real estate! This is a business with its ups and downs and sometimes sideways roads to maneuver. Even when you think you might have it all figured out, you usually don't. The next transaction will be the one which proves it to you.

There's always change......Rules change, contracts change, disclosures change and yes, the market changes. The one thing which never changes for me is the unbelievable satisfaction I get from helping my clients achieve their dream of owning a home.

One of my closings this week was a young couple who are first time home buyers. They wanted to buy a home, rather than throw their money away on rent. Their price point...

One of the questions I hear repeatedly from my clients who are buying a home in Indianapolis, is, 'how much are the utilities'?

This is a difficult question to answer. Although we can easily access the past history of utility charges for a given property, utility costs are more dependant on personal usage.

While the current costs of utilities are a consideration when buying a home, there are some simple changes you can make to reduce the cost.

Today, there are many options available which provide both savings and protect the environment. Integrating just a few of these ideas will help reduce your overall utility costs.

Water Usage:

• Repair leaky faucets and running toilets....

National news reads the real estate market is now controlled by buyers throughout much of the country. As news goes, it is generally one-sided and often distorted, with a predetermined conclusion to coincide with the story line.

Since this is my news page, I get to write what I want with the conclusion I want. No distortion! The news, as I see it, is the real estate market is controlled by buyers. The truth is, it always has been. Even in the midst of the strong seller’s market of recent years, buyer’s still had the final say about how much they were willing to pay for a property. They also had the final decision about the terms of the contract they submitted and agreed to. 

The seller could accept or reject the offer. While there was less negotiating room, the buyer still made the decision. Today, the buyer is negotiating from a position of strength. Some believe this indicates they can offer almost anything...

Property Taxes in Indianapolis has been the subject of many articles, questions and water cooler converstaions. I have even cast my voice into the well of objective (okay, maybe not objective) opinions. My objectivity is clouded, not by my personal agenda, but, by what I see happening and how it has affected the advice I can provide my clients, as well as my ability to negotiate in the best interest of my clients.

I wasn't going to write anymore about the tax situation.....then, I was asked recently if there is a silver lining in the property tax fiasco. I am generally conservative in my opinion of future events, especially when those events are left to the decisions of politicians who have failed to deliver on their promises.

Yes, I believe there is a silver...

Absorption rate isn't a topic of interest to most people, as it relates to Indianapolis Real Estate. Unless, of course, you are buying or selling a home or are a Realtor who studies the market. Then, it becomes a very interesting topic. While it may be a bit boring, I hope to simplify the information, as well as help you understand the importance of knowing the absorption rate of your Indianapolis home.

The absorption rate is a number which represents a particular market's ability to sell the current inventory based on supply and demand. In real estate, this number is determined by dividing the current amount of homes available by the amount sold in the previous month. If the available inventory or currently listed homes on the market is 600 and the sales in the past month were 65, the absorption rate would be 9.2 months. This indicates it would take a little over 9...