Home > Blogs > Cindy Marchant > Indianapolis and Fishers Real Estate

Fishers Real Estate Market Report for November 2008

By Cindy Marchant

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

December 07, 2008 10:32 PM

The decline in the Fishers real estate market continues through November, this graph Fishers Real Estate Graph through November demonstrates it.

Comparing 2008 sales to the same periods in 2007 for homes in the both Fall Creek and Delaware townships, we are seeing significant declines. For the month of November the decline is 47%, while the YTD is only a decline of 5%. November is the single highest decline this year! Refer to our previous Fishers Real Estate Market report for an explanantion on the third quarter.

If you are a buyer, you should be buying a home in Fishers during this period of time when sellers are so motivated, interest rates are at an all time low (mid 5% last week) and the $7,500 incentive is still available for first time home buyers. 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. To get started, there are many things a buyer in the Fishers Real Estate market should know.

As a seller, at first glance this may seem alarming. But price your home right, stage it and be on the top internet sites that buyers search for a home and your home will sell. While you may take less for your home than you would have last year, if you are buying another home you will get that same benefit on the buy side. If you are moving up, the gain will probably be even better. You may take several thousand less than you wanted on your existing home, but you may get the next home for $10,000 or even $15,000 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 are used to, 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 real estate 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!