Indianapolis and Fishers Real Estate

Carmel Indiana Realtor Highlights Brookshire Neighborhood

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Wed, 04 Nov 2009 21:10:19 -0600

In my monthly Carmel sales reports, Brookshire often shows up as one of the neighborhoods with the most activity. There are several Brookshire neighborhoods, there is North, Villages, Pines and Lakes. Today I want to highlight Brookshire located between 116th to 126th and Gray. You've probably been by it; it has the pillars with the lions at the entrances.

It is an older neighborhood, built mostly in the early 70's. Most of the homes have basements and are four bedrooms and 2 1/2 baths. It is a very large neighborhood with nearly 400 homes. The neighborhood has beautiful mature trees and winding roads. It is conveniently located near Brookshire Golf Course.

Currently there are only seven homes available. Five of those are two story homes and the other two are ranch style homes. There are several tri-level homes as well. Most of the homes sell for approximately $100/sq ft. This is one neighborhood that has avoided most of the foreclosure/bank owned homes. Only one sold since January 1, 2009 and it sold for $66/sq ft.

The days on the market average is all over the map and that is probably because some of the homes haven't been updated since the 70's and others have. On the short end, they sell in about 60 days; on the long end, they take over 150 days to sell.

Since January 1, 2009 there have been 12 homes that have sold which is a little better than 1 per month. There are currently seven on the market, so about a six month supply. A balanced market between buyers and sellers is at five months.

The location of Brookshire, the variety of homes and the maturity of the area make this neighborhood very popular for people looking to buy a home for sale in Carmel.

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Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775

Are you worth your commissions?

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Wed, 28 Oct 2009 06:03:31 -0500

If you have a Fishers home for sale, you undoubtedly have talked about the commissions that will be paid. Whether they are justified or not is certainly a topic of controversy. I could take either side of that depending on who we are talking about as the Realtor.®

I think I'll talk about the expenses first and then give you some ideas on how to negotiate the commission. My time is worth something, to put a dollar amount on it would be difficult. But, there is time involved in scheduling stagers, photographers and sign installation. There is time involved in getting the listing on to MIBOR with profile sheets and numerous forms that need to be copied and entered as well as pictures and tours being loaded. There is time involved in following up with showings, securing various documents for the showing agent (i.e. disclosures, surveys, lead based paint, etc). There is a tremendous amount of time to get the transaction to the closing table, mostly in terms of talking with the appraiser if needed and certainly scheduling contractors for inspection issues.

I also pay for the consultation with the stager, staging (no furniture rental) and the professional photographer to shoot the pictures of the home.

I spend premium dollars with Trulia and Realtor.com as well as others that allow me to showcase your home with more pictures and better positioning. Most Realtors® can feed their listings to various sites, but it costs more to have the premium packages.

You pay for me networking abilities and negotiation skills. I am a more experienced Fishers Realtor® and also had a previous career that was highly visible allowing me to have a very large circle of influence. I typically can sell my own listings because I actively look for buyers for them! You pay me to set your home apart from the others and to get premium dollars. For 2009, I am getting 96% to list price!

This is a nice transition to how you might be able to receive a lower commission from me. If I do bring the buyer, I often will discount the commission. If you buy a home from me once we sell yours, I often will discount the commission. If you are a strong referrer, I will discount the commission. I have one teacher at Indian Creek who has brought me so much business that when it sells, it will be for free on the listing side. I will still have to pay for the agent who brings the buyer.

I hope that helps explain why the commission rate is what it is; contrary to popular belief it is not just for putting the sign in the yard. But, NOT all Realtors® work the same. Ask yours why they are worth their commission or better yet, hire me!

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Top 5 Secrets to Buy a Home

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 25 Oct 2009 17:39:00 -0500

Today, there are 800 homes for sale in Carmel Indiana! If you are thinking about buying one of them, here are five secrets you should know as you begin your search.

Be sure you have spoken to a lender FIRST. There is nothing more disappointing than looking at homes and falling in love with one only to find out you cannot afford it. The general rule of thumb, and I mean "general" is 2 1/2 times your earnings for your mortgage amount. So if you make $100,000 you can mortgage $250,000. Remember you must have at least 3.5% to put down making your purchase price right about $260,000. This of course all depends on your credit and debt ratios. If you need a lender, let me know. I have three that are outstanding in their business and highly responsive.

When looking at homes, play the substance versus style game. Determine what things are important to you BEFORE you start to look at a home. If a big yard is important to you, it is a substance item meaning we cannot change the size of the lot. If you want an open floor plan, that may very well be a style item because moving walls can be done. If you know a home won't work as soon as you walk in, move on. Your time is valuable.

Go by the home you are interested in at different times of the day to understand the neighborhood or traffic patterns for example. If I have a relocation client that is going to work downtown and is looking at a home that must use I69 to reach; I need to be sure they drive that at 5:00 to understand the traffic snarls.

Look at things other than the layout of the home, look at baseboards, in ovens and at the ceilings, especially the registers. How a seller takes care of visible items gives clues to how they takes care of the home in general. If you are buying a used house, which most people do, you want to be sure it is well maintained.

Be sure your Carmel Realtor runs the comparables and analyzes the data to the point that YOU understand it. A price per sq ft is a good starting point, but the history on the property is also important. Things like how long it has been on the market matter. I try to be sure I get a list of any updates to the home for the listing agent (likewise I have this ready for my listings). If possible, know the seller's motivation. If they have already bought a house, they might be more apt to negotiating.

Buying a home for sale in Carmel is easy in some respects, the community has great schools, wonderful events and an amazing appreciation rate on homes. But, you want to be sure you have considered these five points before you start!

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Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775

Things to KNOW about the 1st Time Home Buyer's Credit

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Thu, 22 Oct 2009 19:49:44 -0500

As we approach the end of a terrific first time buying season in Fishers Indiana, I wanted to share some information from the IRS on the first time buyers credit.

As you know, unless it is renewed, it will cease to exist on transactions closing after 11/30/09 which means you would have to be under contract by 10/30/09 at the latest. There are a few short weeks, so hopefully this information will be useful if you or someone you know is almost ready to pull the trigger.

I work with many clients looking for a home for sale in Fishers that will fit their needs. These are some of the questions I have heard and the answers.

Q. Can a taxpayer claim the first-time homebuyer credit if the purchase is pursuant to a seller financing arrangement (for example, a contract for deed, installment land sale contract, or long-term land contract), and the seller retains legal title to secure the taxpayer's payment obligations?

A. If the taxpayer obtains the "benefits and burdens" of ownership of a residence in a seller financing arrangement, then the taxpayer can claim the credit even though the seller retains legal title. Factors that indicate that a taxpayer has the benefits and burdens of ownership include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.

Q. A taxpayer owned her principal residence. Several years ago, she decided to relocate to a rented apartment, but did not sell the former residence. Instead, she rented it out to tenants. Now the taxpayer plans to buy another house and make it her new principal residence. Does she qualify for the first-time homebuyer credit?

A. A taxpayer who owned rental property within the past three years is still eligible for the credit. The taxpayer cannot have owned and used a home as his or her principal residence within the last three years.

Q. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?

A. Yes. Taxpayer B is not a first-time homebuyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A's primary residence.

There are various other first time home buyers tax credit questions so please read the full report. I offer first time home buying classes every month at our Fishers office, you can register at our Fishers Real Estate website. I include a home inspector, a lender and then myself to help people understand the process of buying a home. Hope to meet you soon!

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Noblesville Indiana Real Estate Market Report

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Mon, 19 Oct 2009 15:18:24 -0500

Everyone continues to be curious about the Noblesville housing market, so here is the market report for September 30th, 2009. There are currently 658 homes for sale in Noblesville and another 119 are under contract (pended). For the time period January 1, 2009 through Septemer 30th, 2009, the total amount of Noblesville real estate sold is 682 homes versus 754 for the same period in 2008.

Looking at the graph, we can see that in every month but one, 2008 has outperformed 2009.

In the 2009 time period 151 (22%) were distressed properties compared with 114 (15%) in 2008. We are seeing an increase in other parts of Metro Indy as well in this area.

Of the homes that sold, 352 were under $150,000 and 18 were over $500,000. Neighborhoods with the highest number of solds were:

Deer Path with 32
Mill Grove with 18
Pine Knoll and North Harbour both with 14
Cherry Tree with 12

The most expensive home sold this year was in Morse Overlook for $775,000. It had 4800 sq ft and additional 1800 in the finished walk out basement. It was listed and sold in the same day. This is somewhat unusual for the over $500,000 market, the average days on market are well over 100.

If you are thinking about selling your Noblesville home, be sure to contact your Noblesville Realtor. Our team is averaging 59 days on the market in 2009 and our sale price to list price is 96%

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How can Buyers find the Right Neighborhood

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 18 Oct 2009 10:57:00 -0500

When relocating and buying a home for sale in Fishers, the average person can be overwhelmed with the number of great neighborhoods. How can a Fishers Reator® guide her clients without "Steering"? Steering in general means guiding buyers to a particular area based on the desire to keep the makeup of that neighborhood the same or intentionally change it. This isn't restricted to just ethnicity, but also demographically in terms of age or family make up. It is an illegal practice.

There are several tools we give to our buyers to help them discern if a neighborhood is right for them. The first thing I have to do though is listen. A buyer will give me a lot of informaton initially and I need to be able to figure out which pieces of informaton are most important in their search for a home.

For example, if a buyer has small children and wants a lot of children in their neighborhood I tell them to pay particular attention to the number of swingsets in the yards or to visit the home during school bus times.

If a buyer wants a social or active neighborhood, I ask them to drive by on a Saturday and see if people are out. For example in my neighborhood on a Saturday you would see moms walking babies in strollers, older people out for a stroll, a gazillion people walking their dogs and probably a few bikes or runners too.

If a buyer wants a neighborhood that is quiet, I might look at a low maintenance community that offers lawn care services for example. Looking at the amenities a neighborhood offers also might be useful, is their a playground and pool?

If a buyer is concerned about safety and is unfamiliar with our area, I ask them to visit familywatchdog.us to get specific crime statistics for the Fishers home they are interested in.

If a buyer wants a neighborhood with great resale, I pull the statistics for that neighborhood. For example I pull the average price per square foot for 2007, 2008 and 2009 and watch the trend. I look at days on market trending.

Lately, another statistic I am pulling for neighborhoods is the number of distressed properties (i.e. bank owned or foreclosure).

So, while I cannot "steer" people to a neighborhood of "my choice"; I can offer suggestions and data to help my buyers understand what is available that matches what is important to them. But again, it begins with listening. I'm all ears for you!

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Carmel Indiana Real Estate Market Report for September 2009

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Thu, 15 Oct 2009 21:30:24 -0500

This is the monthly Carmel Real Estate Report card. There are currently 822 homes for sale in Carmel Indiana, which is down slightly from last month. Before we talk about the month; let's just recap the first three quarters of 2009.

There have been 906 homes that have sold/closed since January 1, 2009. If we look at the absorption rate, that means about 100 homes sell each month. If we have 822 homes for sale currently in Carmel; we have an 8 month supply of homes. Now, of course this is a very general calculation; if your home were for sale you would want to do the absorption rate for either your specific neighborhood or for the price range you are in to more definitely focus on similar homes. Neighborhoods and price points do vary the calculations.

For September 2009, there were 113 homes that sold, so somewhat better than the average of 100. For the same time period in 2008, there were 105 homes. So 2009 sold more than 2008 for the first time this year! That is awesome news.

Just a quick note on distressed properties, there were 12 this month os about 10%.

The highest priced home that sold in Carmel was $1,006,325 in Grandin Hall which is built by Estridge. It was a 2009 home with 4,400 sq ft and an additional 2,600 in the finished basement. The lowest priced home sold for $85,000 in Homeplace.

The neighborhoods were very diverse, with several neighborhoods having three or four sales this month. Those were Concord Village, Brookshire, Village at Weston and the Village of West Clay.

There were 15 condo's in the 113 homes that sold in Carmel; so to get an accurate price per sq ft and days on market, I've excluded them. The average price per sq ft is $109 and the average days on market were 71. The stats for the Marchant Team are 59 days on the market and our sale price to list price is 96%, so if you are thinking about selling please give this Carmel Realtor the opportunity to win your business.

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Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775

Fishers Real Estate Market Report for September 2009

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Wed, 14 Oct 2009 20:09:18 -0500

The amount of homes for sale in Fishers remains fairly constant at around 750; currently there are 773 homes for sale. This blog post is to talk about the sales in September and also look at the full month by month report for 2009 for Fishers Real Estate.

For September, there were 129 homes that sold compared with 172 in September of 2008. This is a 25% decline.

The most popular neighborhoods were Sunblest, South Avalon, and Sandstone. Of the 129 homes that sold 49 of them or 38% were in the $150,000 to $250,000 price point with only 15 homes over $350,000.

The average price per square foot was $93 and the average days on market were 71. (The Marchant Team days on market for 2009 is averaging only 59!)

The most expensive home that sold in Fishers was $2,625,000 in Breakwater with over 14,000 square feet and on 3 acres! The most inexpensive home was for $65,000 near 113th and Florida road with only 1,152 square feet.

The last two months (July and August) we have thrown out the possibility that we have "borrowed" buyers in the earlier months of the year. I think September continues to show that trend.

The other possibility is that in September of last year, the zero % financing ended so many buyers quickly purchased before that funding was sunset in the July-September timeframe.

Next month should be an interesting bar on our graph to substantiate one of these hypothesis.

Another trend we are watching is the distressed property numbers. This month there were 21 of the 129 or 16% that were distressed.

Last year for the month there were only 9 or 5%. I have six closings this month and 4 of them are with a distressed property.

Remember if you are needing to sell your home and think you may be upside down or you are looking to buy a distressed property, this Fishers Realtor is very educated and savvy on those types of sales.

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Halloween Activities in Carmel Indiana

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Tue, 13 Oct 2009 20:13:51 -0500

There are some great Halloween events planned for Carmel residents! While October is a great month to purchase one of the 826 homes for sale in Carmel Indiana, it is also a great month to get out and enjoy our Indiana cool weather.

The Carmel Clay Parks has many events! If you have kids that like to color, they can pick up a coloring sheet at the Monon Center or at the website and submit it by October 23rd to be entered to win a prize. The artwork will be judged in age groups of 0-2; 3-5; 6-8 and 9-12 years old.

The Pumpkinfest will be on Saturday, October 24th from 12-4 and is FREE. You can purchase a pumpkin, enjoy a hayride and create a scarecrow!

There will be pumpkin decorating on October 17th from 2-3; pumpkins are $10.00 each.

There is a Pumpkin Patch Festival from 10-1 at the Clarian North facility at 11700 N Meridian. There will a bounce house, petting zoo, face painting, clowns and balloons for the kids. Costumes are encouraged!

For other events around town; check out these sites:

Headless Horseman at Conner Prairie is a favorite for all!

A visit to Tuttles Apple Orchard to pick apples or take a hayride.

The 37th annual Pumpkin Harvest Festival in Noblesville is a great choice and available during October.

The Indianapolis Zoo is hosting Halloween ZooBoo during the weekends in October.

The largest Haunted House is at Hanna's Haunted Acres!

If trick or treating is all you want to do this Halloween, residents in Carmel will be trick or treating on Saturday, October 31st from 5 -8 p.m.

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Cindy "in Indy" Marchant - Carmel Real Estate Agent
Keller Williams Realty Indy Metro NE
Carmel IN Real Estate Website
317-290-7775

Halloween Activities in Fishers Indiana

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Tue, 13 Oct 2009 20:11:56 -0500

It's October and time to give you my Top Halloween Spot pics! From the hundreds of clicks on my Easter Egg Hunt post, I know many of you follow the blog to find out what's happening in and around the Fishers area as well as staying up to date on the Fishers Real Estate market. Just as an update, today there are 782 homes for sale in Fishers!

I think the Children's Museum is one of the best places to take your kids anytime of year! But at Halloween, they have the Tomb of Doom. From October 16th through the 31st, kids can wear their costumes and explore the Egyptian labyrinth of fun including the Desert of Despair, Vile Nile and Pyramid of Peril as they search for the Lost Mummy! There is a lights on version during the day for this event also.

The Indianapolis Zoo has their Halloween ZooBoo every weekend starting the 16th - Oct 30th. The zoo stays open late with the animals on exhibit. There is a hay maze, monster music, pumpkin bowling, a haunted train ride and trick or treat stations.

Something fun to do any time this fall is a visit to Tuttles Orchard where you can go on a hayride, weave your way through the four acre family friendly corn maze or pick your pumpkin from the pumpkin patch. You can also pick over 22 varieties of apples!

One of the most popular events for Fisher Home Owners is the Headless Horseman at Conner Prairie. The cost is $9 or $13 depending on the day of the week you go. There is storytelling, crafts, live music, and a nightly staging of "The Legend of Sleepy Hollow" complete with hayride.

There are so many other great Halloween events including:

The 37th annual Pumpkin Harvest Festival in Noblesville is a great choice and available during October.

The largest Haunted House is at Hanna's Haunted Acres!

So, have a great October enjoying the events, have some warm cider, pumpkin bread and please continue to come back and read about Fishers Real Estate, Events and Happenings!

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Cindy "in Indy" Marchant - Fishers Real Estate Agent
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Fishers IN Real Estate Website
317-290-7775

Listing Agent who actually sells!

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Mon, 12 Oct 2009 20:10:24 -0500

With nearly 800 homes for sale in Fishers, it is important to have a Realtor® who understands the Fishers Real Estate market, knows how to set your home apart from others and communicates with you. Every so often I receive a call from someone who has their home listed with another real estate agent and they find me from this blog and ask me to list their Fishers home. The number one reason they switch from their current real estate agent is communication.

There are a variety of reasons to list you home with this Fishers Realtor that include:

A track record in 2009 for selling at 96% of list price and in 59 days.
The upfront work I do in staging your home and professionally photographing your home.
The tips and tricks I have learned in 10 years of selling real estate; for example how to set your home apart from all the others on Craig's List with ★ symbols before your listing!
The background I have in negotiating and conflict resolution makes for a smoother transaction.
Communication!

As part of my normal communication, I create a Seller's Report that shows activity, competition, marketing and recommendations.

It gives the seller a snapshot of the activity and important aspects of selling their home in a timely fashion.

I usually like to do this report at least once a month.

Do I sometimes recommend price reductions, absolutely. Typically I ask for them after 11 showings or 21 days, whichever comes first. But, if they see what I am doing in terms of marketing, I think they understand my requests.

One of the latest recommendations I am making is holding an open house during the week, maybe a Thursday night with snacks! I attend conferences and educational seminars to get different ideas that help sell my client's homes. This is one of those ideas.

When you list your Fishers home for sale, you hope it isn't with a Realtor that just puts a sign in the yard, drops it in MIBOR with a picture or two and prays it sells. You want someone who spends time with you and understands why you bought the home and why you are motivated to sell it. You want someone who will give you suggestions on what to do to increase the price or decrease the time on the market. You want someone who gives you professionals to help "sell" your home like stagers and photographers and sometimes painters and handymen. But you aslo want someone who will communicate with you too. Read my references, call me and let's get your Fishers home sold!

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Why use a Realtor when considering New Construction

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 04 Oct 2009 19:53:00 -0500

There are currently 731 homes for resale in Fishers that were built before 1/1/09 and another 53 on the market that were built after 1/1/09.

Of the 53 new homes in Fishers for sale, 12 are condo's and 41 are homes. The majority of the new construction in Fishers are Ryland, Pulte/Centex and Estridge with a few MI, Drees, Beazer and Custom Builders. The average price per square foot of these homes that are at least 3 bedrooms and are residential versus condo is $141.00. A custom build is usually well over $150.00 a square foot.

I have spent the last couple of weeks working with various buyers that want new construction in the Fishers or Carmel area. You might wonder why would you use a Fishers Realtor® if you are building new construction here.

Most builders have employed integrity pricing, meaning they are doing very little negotiations. This is important to you because you want to know that what you paid for your home is close to what the neighbor paid for his. You don't want the Builder to have discounted it for whatever reason; it will just bring the value of your home down. That being said, there was a buyer that I represented and was able to negotiate 6% off his purchase price by providing comparables; so sometimes we can do that for our clients.

But you do want a Fishers Real Estate agent to represent you for the following reasons:

You will not pay any more to have buyer representation; the builder pays the commission from a marketing fee. It will not change the price you pay for the home whether you use a Real Estate Agent or not so why wouldn't you want someone to represent you.
One of my clients was torn between two builders, so I ran comps for both neighborhoods so they would know what the price per square foot and the days on market were in each neighborhood. They could be vastly different by neighborhood and that impacts your resale and appreciation.
The builders do offer incentives and how the incentive is structured can matter to you. For example one builder is giving 3 points. Most people assume that is to buy down the rate. It would take you 30 years to realize the full benefit of that. But what most people don't know is that you can do a 3-2-1 ARM loan or you can have the builder pay your interest for six months or until the 3 points are used up, whichever comes first. That allows you to receive the full benefit in 6 months. For example if you buy a $300,000 home; those three points equals $9,000 off your payments in the first six months!

Read the rest of the article at MyFishers Blog!

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Five Critical Success Factors to Selling your Home!

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Tue, 22 Sep 2009 16:08:45 -0500

Looking at the Fishers homes for sale currently, there are 790. Of those, 45 of them were listed prior to January 1 of 2009 and another 74 were listed before March 31st! That is over 15% of the current listings. Why are they still there?

Here are 5 items to consider when selling your Fishers house:

Be sure the buyer is qualified. It used to be you could just breathe and be approved for a loan. This has all changed and you now need to almost give your first born! Be sure you know the difference between a pre approval and a pre qualification letter. Your Realtor® should! For my seller clients, I will typically call the buyers lender and just check in and let them know my email and phone number if they have questions and then ask if there is anything unusual or that I should know about the buyer they are representing.
Consider how long your property has been on the market. I love my home and the work and sweat equity I have put into it and I'm sure you love your home too! But the reality is if you have had 11 showings or have been on the market for 21 days; you should be reducing price about 3% each time. While the Realtor makes a recommendation and the seller ultimately decides what the home should be listed for, it is in fact the buyer that will decide what it will sell for.
Where can you compromise? If your first choice isn't price, can you give a paint allowance, pay closing costs, leave your appliances. Try to find a win-win and take every offer seriously.
If your home is vacant, consider staging the home. A consultation from my stagers ranges in the $120 price point. They give you a full report of what needs to be done and what their staging would cost. You cannot underestimate the value of staging! It has been shown that 94.6% of ASP staged homes sell in 35 days or less!
Beware of the Appraisal! Every year it seems an issue or two come into play consistently; this is the year of appraisals. I could write an entire post on appraisals, oh wait...I have! It is similar to #2; we all value our homes but once the buyer values the home, the appraiser has to validate that. Even buyers are over valuing the homes these days according to appraisers!

As a bonus this post; here are two questions you should ask the real estate agent you are considering to sell your Fishers home:

How long is it taking you "on average" to sell the homes you list?
What is the sale price you are getting compared to the list price?

If you were to ask this Fishers Realtor; the answers would be 1) 59 days and 2) 96% and those are hard to beat! If you are curious about the value of your Fishers home, ask me! I'm here to help navigate the process for you.

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Cindy "in Indy" Marchant - Fishers Real Estate Agent
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317-290-7775

Carmel Indiana Real Estate Market Report for Jan- Aug 2009

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Fri, 18 Sep 2009 16:18:11 -0500

There are currently 846 homes for sale in Carmel Indiana and 144 additional homes that are under contract (pended). The graph below shows 122 homes sold in August compared with 130 in August 2008, so very close with the activity of a year ago.

The neighborhoods with the most sold in August were Brookshire, Plum Creek and Shelborne Greene. From the graph we can see that August actually is the closest to its counterpart in 2008; so maybe that is good news!

The highest priced home in Carmel that sold was for $1,255,000 in Bridlebourne and it was only on the market 109 days. The Indianapolis Business Journal had an article two weeks ago that said million dollar homes weren't selling; this one must have been priced well and in great condition. There was one other home that sold over a million; it was in Windsor Grove and sold for $1,100,000 and on the market for 222 days.

There were six homes that sold for less than $100,000. It is very hard to find a home in Carmel for sale that is less than $100,000. Most of these are condo's. Buyers in this price range might have more options is they searched in Fishers or Noblesville.

There were only 12 distressed properties compared with 8 a year ago; there just aren't quite as many in Carmel. I did happen to see one this weekend that is a great deal in Bellewood. If you have questions about homes for sale in Carmel or what your home might be worth, please contact your Carmel Realtor and I'll get to work for you!

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Fishers Real Estate Market Report for August

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Tue, 15 Sep 2009 12:29:30 -0500

There are currently 790 homes for sale in Fishers and there are 204 pended (sales contract is in place) but what a story we have on homes in Fishers that sold in August! The graph below shows the trend from January through August for sold Fishers Real Estate. I think using the graph is a great way to see a bigger picture, than just writing about the month of August.

The numbers have been consistently close through June and then we saw a 14% decline in July and we are seeing a 31% decline in August! Our hypothesis in July was that perhaps the influx of first time home buyers was beginning to decrease as most were already in the market. I think that this is more evidence to support that hypothesis. There were 139 homes that sold in Fishers versus 201 a year ago in August.

I did consider whether the number of pends was unusually high and by looking at the pends by date; this could be an explanation. Of the 204 homes for sale in Fishers that have a contract; 102 of those pended in August. I know "getting to the closing table" is much harder than it used to be; so timing may be a factor. There were new lending regulations that came out at the end of July requiring better disclosures and longer time tables.

Of course the highest price home in Fishers that sold was for $1.1 million and it was Marcus Schrenker's home in Geist. Most of the lowest priced homes that sold were the condo's at Cedar Cove that have the traffic of 96th and Allisonville to contend with. Sunblest, Sweet Briar and Woodberry had the most homes for sale in Fishers that sold.

The number of distressed homes continues to decline from the 2008 levels signifying the run on bargains may be approaching a balanced level. For the third month in a row, the number of homes for sale in Fishers that are distressed is less than the number in 2008. There were only 14 homes in August 2009 that were designated as distressed.

Our team continues to help many people understand the difference between foreclosing on a home and selling short. We have a Certified Distressed Property Expert (CDPE) or Short Sale Realtor® on our team, her name is Susan Timmerman. It is worth talking to her or referring someone you know in a negative equity position to Susan to discuss the differences between foreclosures and selling short.

If you are thinking about having your home in Fishers for sale; you need to choose your Realtor® wisely. The best two questions to ask a Realtor are:

How long does it usually take you to sell a home; known as days on market?
What is the percentage you usually get compared to list price for a sales price?

The Marchant Team for 2009 statistics are 59 days on the market meaning we sell your homes in less than two months and our average sale price to list price is 96%. If you have a home listed at $200,000; you can expect the Marchant Team to get you $192,000 as the sales price. There are very few Realtors in Fishers that can compete with those numbers. If you want the best selling or buying experience, hire the best Realtor.

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Fishers Realtor highlights Gray Eagle

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Fri, 11 Sep 2009 21:02:24 -0500

There are 773 homes for sale in Fishers today! I love to highlight all the various Fishers neighborhoods that make up those 773 homes, today I have chosen Gray Eagle! Gray Eagle is a golfing community in Fishers with Prairieview Golf Course surrounding the subdivision and is located on 116th to 126th in east Fishers.

Gray Eagle has 682 homes that were primarily built by Pulte Homes and is enclosed by 240 acres of wooded preservation. There are various subdivisions within Gray Eagle, for example "The Bluffs" are located off of Brooks School Road at 126th and are ranches with finished basements that either back up to the woods or golf courses.

Currently there are 14 homes for sale in Fishers Gray Eagle. They range in price per sq foot depending on which area in Gray Eagle you are looking, but the majority are in the $120-$130 price per sq ft. Currently the highest priced home is at $499,000 with 4,400 sq ft PLUS an additional 2,000 in the basement at 11751 Skyhawk Court. It has five bedrooms and four full baths. The lowest is at $339,000 with 2,770 sq ft and an additional 1,500 in the basement.

Most of the homes were built in the early 2000s and have three car garages, basements and often three to four full baths.

Since January 1, 2009 there have been 26 homes sold in Gray Eagle, which is about 3 homes per month. If we look at the absorption rate, we would say with 15 homes for sale in Fishers Gray Eagle, we have just under a five month absorption rate. This is approaching a balanced market.

Gray Eagle homes typically sell in less than 90 days as well demonstrating that it is a neighborhood that is popular to home buyers in Fishers.

It is also popular due to its proximity to shopping, schools and interstates; yet with a golf courses and wooded lots, maintains a private quiet backdrop for its residents.

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Short Sale versus Foreclosure Discussion

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Thu, 10 Sep 2009 08:06:00 -0500

There are many people who have homes for sale in Fishers or are thinking about selling their home and know that they probably owe more than they can get for their home. This can cause a lot of sleepless nights.

In many areas in the surrounding Indianapolis market, the 2009 prices have not appreciated above the 2006 prices. This means if you bought your home in 2006; you may not be able to sell it for more than what you paid. This creates negative cash flow when you add in typical seller expenses such as taxes (paid in arrears in Indiana), commissions and title work.

There are options! You may be able to sell your home "short" and preserve your credit. Banks have the option of submitting the short sale to the creditu bureau as "Paid in Full" or "Settled for less than full balance". The problem is when you stop making payments; then your credit score will suffer. There are ways to sell short while you are making your payments.

In 2007, the U.S. Congress passed the Mortgage Debt Forgiveness Relief Act and it is now in effect through 2012. The essence is that you will not pay taxes on the debt that is forgiven if it was your principle residence.

We have a short sale or CDPE (Certified Distressed Property Expert) agent on our team. This is a workpaper she has shared with our team that might be useful to my readers.

If you are being relocated for a job or have a declining market in your neighborhood, your lender may agree to allow you to sell short rather than go into foreclosure. If you do not become delinquent on your payments, you may be able to sell short and not harm your credit scores.

This is a very important discussion that is individual specific so please let me know if you would like to talk with me or my team member to see if it might be an option for you or someone you know.

The Marchant Team is about selling real estate, but it is more about creating a win-win situation for each client we have the opportunity to work with in the Fishers Real Estate area.

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Fishers Realtor explains Private Mortgage Insurance

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 06 Sep 2009 19:48:06 -0500

You typically will see PMI applied when you have less than 20% equity (mortgaged amount is more than 80%). The misnomer I often see is that people interpret that to mean they need 20% down in cash. There are other ways to ensure the 1st mortgage is at 80%; by taking a 2nd mortgage for say 10% and then the balance of 10% is in cash. The 2nd mortgage will run a bit higher on an interest rate, but some people prefer to pay that off quickly and avoid the PMI charges completely.

Or course, a 2nd is much harder to come by these days. A credit score over 700 is expected.

When you purchase a home with an FHA loan; PMI is automatically attached regardless of the amount put down. It is typically .55%. This is true if you have a 30 year FHA loan; PMI would not be required on a 15 year FHA with 10% or more down. (thanks David!)

PMI costs vary greatly, they can be as low as 1/2 % of the mortgaged value to 1.00%. Here is an example of how this might work:

A buyer searching in the Fishers Real Estate market might find a home in Sunblest for $139,900. Their Fishers Realtor® negotiates the price to $133,000. The buyer puts down $13,000 leaving a mortgage of $120,000. Lots of numbers, I know...stay with me. The PMI is 1% of the mortgage balance or $1,200 or an extra $100 a month.

Here's a bit of good news, PMI is now deductible up to $1,000 a year.

It is important to understand the "Total" monthly mortgage payment. Often calculators on various websites give you an amount that is JUST principle and interest. You must also include property taxes, homeowner insurance and PMI (depending on your loan) and possibly a monthly maintenance fee if you are buying a condo or choose a home in a low maintenance community.

If you have other questions about PMI or other real estate lingo, please let me know. I am here to help you understand the buying and selling process. More real estate terms defined here.

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Carmel Realtor highlights Saddle Creek

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 06 Sep 2009 19:44:47 -0500

Pulte's Saddle Creek is a popular Carmel Indiana Real Estate location. It is located in the Spring Mill and Towne area just north of 136th. There are 493 homes in the subdivision and they were built between 2000 and 2005 for the most part.

There are so many neighborhoods in Carmel with homes for sale, why would you pick Saddle Creek? For starters it has very good resale in terms of days on market. On the average, homes only last about 60 days.

There have been 27 homes sold since January and there are currently 18 active homes for sale; so the absorption rate is about five months. For this particular time in real estate, five months is good!

The average price per sq ft is right at $110.00; with most homes ranging in price between $275,000 and $350,000. There is one home currently on the market with 6 bedrooms for $329,000!

Almost all of the homes have a basement and most of the homes also have a three car garage. They have brick on the exterior with most having composite siding as well. They have the signature Pulte design with the arched entrance at the front door.

If you are moving to Carmel or looking to purchase a new home in Carmel, be sure to check out our other neighborhood reports and our Carmel market reports that detail which neighborhoods have the best activity and resale. Finding the right neighborhood for you will take the experience of a Carmel Realtor that knows the area.

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Carmel Indiana Real Estate Market Report for July 2009

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Fri, 14 Aug 2009 13:20:26 -0500

The data is out for July so we can look at some trends. This is the market report for Carmel Homes that have sold over the last seven months. It is interesting to note that the difference between 2008 and 2009 is fairly consistent over the time period. This month was a 16% decline, with the YTD difference at 21%.

For July in particular, we saw 128 homes sell. The best "deal" on paper was at 13066 Fleetwood which was a 3,000 sq ft home with another 1,100 sq ft in the basement for $157,000 (or $53/sq ft). It however needs a complete renovation. The highest priced home was 12749 Parsons Gate in the Village of West Clay that sold for $1,425,000 ($292/sq ft) and had nearly 5,000 sq ft and an additional 2,800 in the finished basement.

Overall on a YTD basis for 2009, the days on market are 81 and the average price per sq ft is $114 (of course this varies by neighborhood, so be sure to check out our Carmel Neighborhood reports). For 2008 YTD through 7/31/08, the days on market were 80 and the average price per sq ft was $121.

The days on market are fairly consistent at less than 90; which is great news for Carmel residents. Of course, the ones that sell in less than 90 days have the right price, great staging and the best Realtor®!

The distressed properties are on the rise, with 23 from January to July in 2008 and 46 in 2009. I just completed the market report for Fishers Real Estate a few days ago and they are actually seeing the distressed properties start to decline. June of 2008 is when we initially saw the start of the distressed properties on the market.

Finally the number of Carmel Homes for Sale are 857 and 214 of those were listed in July. That means a lot of choices for those searching for a home in Carmel.

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Fishers Indiana Real Estate Market Report July 2009

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sat, 08 Aug 2009 20:04:50 -0500

We are all curious when the Fishers Real Estate market will return to normal levels, I think looking at trends is the best way to determine that. For this post; I have pulled all of the sold homes in Fishers (both Delaware and Fallcreek Township) for each month from January to July comparing 2008 to 2009.

The numbers actually look fairly close for most months; within a couple of percents. The exception is actually July. We are down 14% from a year ago. I think there are possibly two reasons for this. The first is the date I am actually running this analysis, August 6th. Some real estate offices do not get their data loaded in a timely manner, so there still may be homes that have closed but are not yet entered for July 2009. The other reason might be a bit more alarming; all of the first time home buyers have entered the market and bought something and so those buyers aren't as plentiful in July.

Year to date there have been 935 homes in Fishers that have sold compared to 981 in 2008 or a 5% decline. From these numbers, I think we can say that the media sometimes over states a National phenomena at a local level. There are still some issues with days on market and the average price per sq ft that is sold. Be sure to check out all of our Fishers Real Estate Market Reports for more details on these statistics!

I also ran a graph for distressed properties by month comparing 2008 and to 2009 and that is a far more interesting graph. It is easily seen that the number of distressed properties is way up in 2009 and it is probably not a big surprise based on what we hear in the media. It looks like the distressed properties actually began to be an "issue" in June of last year so hopefully we will see 09 start to be less than 08! This is exactly what we have in July!

Our team has actually had some great success in securing great deals on distressed properties for our buyers. Ben, is one of our clients that got a $200,000 home for about 75% of value. Distressed properties do provide some great opportunities if you have a Certified Distressed Property Realtor on your team and we do! This can be valuable if you are looking to buy AND if you are looking to sell because she can guide you on avoiding a possible foreclosure and the effects that will have on your credit.

It's a bit of a lengthy post this month; but market statistics are important for any Realtor® that is at the top of their game. Realtors® need to know absorption rates, market statistics and Fishers neighborhood values as well as how to price, negotiate and get the transaction to the closing table which is a challenge these days. Want the best Realtor in Fishers, call or email me. I will take you through the process and get you the best deal in the shortest amount of time.

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Flavor of Fishers aka Taste of Fishers

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Tue, 28 Jul 2009 20:26:37 -0500

This Fishers Real Estate Blog often covers neighborhoods and market reports, but I like to highlight events too. Flavor of Fishers will be here on August 1st from noon until 10:00 p.m. at the USA Parkway Circle. You can only enter from 106th street this year.

This is a great event for residents in Fishers and surrounding areas. There will be over 30 restaurants including some of my favorites like Scotty's Brewhouse and Flemings Steak house. (My husband and I eat at Flemings on every anniversary and I think it has the best steak in the city!) There will also be a wine garden.

The entertainment list this year is awesome, with Hotel California playing from 8:30 to 10:00 p.m. I don't want to necessarily reveal my age, but I am a huge Eagles fan! For the smaller people (under the age of 12 is FREE), there is a family fun zone.

Tickets are $5.00 and can be bought at Marsh or the Chamber or at the event for $7.00. Food tickets are available and most food items are from $1.00 to $5.00. There is always more to know, so be sure to visit the FAQ.

Your Fishers Realtor will be there as well as other members of the Marchant Team; we'll have the Worth the Read...My Fishers Blog Red T-shirts on. Be sure to say hello and we may even have a gift for you! Looking forward to another great Flavor of Fishers Event!

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Bargains, Steals and Deals in the Carmel Real Estate market

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 26 Jul 2009 18:59:17 -0500

From time to time, I comb the Carmel Real Estate Market in search of deals. I have two GREAT ones and another good one today. If you have an area of town you'd like me to research other than Carmel, let me know.

To start with, let me tell you how I find the deals. It does take some work.

My search starts with distressed properties in Carmel (53) and then I look at ones that are over $150,000 (36) and then only on the market less than 90 days (22). So I start with those 22 and then look at their assessed tax value, their history (when did they sell last, how much, how long on the market), and their location (do they back up to a traffic, etc). Once I have narrowed those to the few (6), I go in and look at the neighborhood activity and compare their pricing. It takes several hours to actually come up with the two or three that I think are the best deals.

So here they are:

5275 S Woodfield Drive
1267 Smokey Row
10725 Downing Street

Woodfield Drive, which is bank owned, is located in the neighborhood of Woodfield at Gray and 146th. It is currently priced at 85% of the average square foot price of solds in the neighborhood. It is assessed at 85% of the value in the tax record and sold in 2006 for $85,000 more than it is currently listed for today. I guess 85 is the lucky number in this case! It is a 4,100 sq ft home with an additional 2,000 basement for $445,500.

Smokey Row, which is also bank owned, is located in Cool Creek North. It is listed at 79% of the average square foot price of solds at $88.00. It is priced at 79% of the assessed tax rate and it has not been on the market since 1991. It is a 2,700 sq ft home with an additional 1,200 basement for $234,900.

Finally, my last pick is on Downing Street. While it is not as agressively priced, I love this neighborhood because of its convenience to the 465 Interstate. It is at 106th and Gray. This one is a short sale; so be sure you have time to spare if this is the one that appeals. It is listed at 85 % of the average square foot price of solds, but it is listed right at the assessed value. It is a 2,400 sq ft home with no basement for $178,000. There isn't a ton in Carmel for this price, so could be the right house for a lot of people.

Let me know if you have questions about these properties or other that you see. I have some great tools to search for homes, including by just using your phone! As a seasoned Carmel Realtor, I invest a lot of time in finding the best deals, negotiating the best price and giving you the best service!

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Carmel Realtor highlights Lexington Farms

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 26 Jul 2009 09:05:50 -0500

Carmel Real Estate abounds with luxury homes; but it can also be very affordable. One of my favorite neighborhoods that IS affordable is Lexington Farms. It is one of my favorites not only for its pricing, but also for its location and proximity to Central Park and the Monon Center.

As you enter the neighborhood, you will be greeted by rows of blooming pear trees and a white picket fence. There are also nine ponds in the neighborhood giving neighbors scenic views as they walk through the area.

The neighborhood has a variety of ranch and two story homes with square footage ranging from 1,500 to 2,000 and most have beautiful lots. They also are pretty well divided between three bedroom and four bedroom homes. They are just a few with basements and/or three car garages.

The neighborhood has its own pool, playground, tennis court, basketball court and clubhouse for residents. The clubhouse was the old farmhouse for the land. The Homeowner fees are $135 a quarter or $540 a year. And it is worth mentioning again, the Monon Trail is located just east of the subdivision, within walking distance.

The neighborhood was built in the early 1990s by Davis Homes. Their pricing average is about $100 a sq foot with most homes in the $175,000 to $185,000 price point. The absorption rate for this neighborhood is less than one month! What a great neighborhood. There were 12 homes that have sold in the last year, so very little movement in the neighborhood of 290 homes. There are currently three actives and two pended homes. Of the 12 that sold last year, there was one that would be classified as a distressed property.

While there are many areas in Carmel that have beautiful luxury homes, it is nice to find a neighborhood like Lexington Farms that has great amenities and location AND price! Be sure to check out the Indianapolis Star article on Lexington Farms.

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Barriers to Closing starting with Appraisals

Cindy "in Indy" Marchant Carmel, and Fishers Real Estate (Keller Williams) — Sun, 26 Jul 2009 09:01:48 -0500

As a seasoned Fishers Realtor®, I have seen my share of barriers in getting to the closing table. While some still see a real estate transaction as putting a sign in the yard, accepting the best offer and then sitting around until the closing; it is not that way in nearly 99% of all my transactions.

I could talk about the many issues and problems that come up in the process of getting to the closing table, but today I just want to tell you about some of the real life examples I have seen in appraisals in the last few months.

Scenario 1: I represent Buyer. We have been looking for awhile and have our search set up so we can see the listings that match their criteria the minute they come on the market. And we do find one; schedule the showing for that day.

We love the house. I call the agent to find out all that I can about the sellers (i.e. motivation, reason for moving, etc). I find out another showing is writing an offer, so I coach my people to bid list price. They do, $229,000. I am able to get our offer accepted; I personally drive the offer to the seller's house!

Appraisal time (with the HVCC process); it comes in at $210,000. Sellers are devasted; I'm scratching my head. I did the comps and they supported the price and it had two offers the first day it was listed. But, I represent buyers so I wait to see what the sellers are going to do. Long story short, we agree to $215,000.

We close 60 days later and during that time, I continue to watch the market. There is another home in the same neighborhood, with the same floor plan without the loft (it was our 2nd choice, so I had been in the home) and was in the same great condition. It closed three weeks before us at ...you guessed it...$228,000.

So, my question is for any appraisers out there...huh?? Luckily I represent the buyer and it is obvious they got a real estate deal!

If your are a seller and you get hit with a low appraisal, is your realtor watching to see if any newer comps come in to play to help your situation. If not...you may need to hire the right realtor. It is our job to represent you until you have signed the warranty deed giving ownership to the new buyer, not to stop working for you after you have a signed purchase agreement.

I guess my stories are a little lengthy so I'll post the next one in a few days!

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