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Fishers Real Estate Market Report by Quarter through October 31, 2008

By Cindy Marchant

Real Estate Agent with Keller Williams Indy NE 317-290-7775 www.marchantteam.com

November 06, 2008 04:12 AM

We have talked about the decline in the Fishers real estate market, this graph demonstrates it.

As we compare 2008 sales to the same periods in 2007 for homes in the two townships that make up Fishers, we are seeing significant declines. For the first quarter the decline is 15%, 2nd quarter is 20% and we actually see an increase in the 3rd quarter of 5%. This can be explained by the elimination of the Down Payment Assistance (DPA) programs such as Ameridream. The programs ended on 9/30/08 and many buyers were pushed through during that last quarter. This theory is further supported by the October numbers, down 33% in just a single month.

What this means for you as a buyer looking to buy a home in Fishers is that you can get a great deal. Sellers are anxiously waiting for a buyer to buy their home and will take less for the home than they would have a year ago; creating instant equity for you as the buyer. As you venture into the market, there are many things a buyer in the Fishers Real Estate market should know.

As a seller, this may seem alarming. But if you are priced right and have had your home staged and are on the top internet sites that buyers search for a home you will sell your home. You may take less for your home than you would have a year ago, but if you are buying another home you will get that same benefit on the buy side. If you are moving up, the gain will be even better. You may take $10,000 less than you wanted on your existing home, but you may get the next home for $15,000 or even $20,000 less than that seller might have gotten a year ago. Just as a buyer in the Fishers Real Estate market needs to know things, so does a seller. How you sell your home and who you choose to sell your home in Fishers will make a difference.

There are many different views on when our housing market, our economy and our retirement plans will return to the levels we like to enjoy, but for the time being the numbers in the graph show the reality we are currently facing. The Marchant Team has many resources and experience in both buying and selling homes in the Fishers market; we hope to hear from you and look forward to making your transaction one you will want to share with your friends and that we will also want you to share!