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Here are the numbers for real estate in Noblesville for October 2009:

We see a huge jump in the number of homes sold over and a pretty big price decrease over the same time last year. Both of these fluctuations can probably be attributed to the then impending tax credit expiration. The number of homes sold going up is a pretty obvious connection to the tax credit. The average sales price going down is likely that the tax credit pushed many more first time home buyers into the market who purchased homes at a lower price point and thus lower the average sales price.
All in all, the Noblesville real estate market seems to do just fine. If you are considering buying or selling a home in Noblesville feel free to visit our Indianapolis homes website. You may also be interested Deer Path Noblesville one of the area’s most popular and most affordable area or Sagamore homes for sale in Noblesville one the area’s most exclusive neighborhoods.

I consider it very important to take the required courses to remain a Fishers Realtor of choice. Recently I took a class on Multi-Generational Marketing that I thought was very interesting. I need to pay attention to the age of my buyer because what they value may differ depending on how they grew up.

There are basically five generations as follows:

1. G.I. Generation (1901-1924) and they represent about 5% of the market
2. Silent Generation (1925-1945) representing 20% of the market
3. Baby Boomers (1946-1964) representing 45% of the market
4. Generation X (1965-1981) at 20% of the market
5. Generation Y (1982-2000) 10% or so of the market

A great way to look at this is to think about how Kennedy died. The first three would say gunshot in Dallas, the Generation X may say a plane crash near Martha's Vineyard and the Y Generation would say of old age and in 2009!

The Veterans (GI) are often selling their homes and moving into assisted living or nursing homes. They may not have family and need me to be do many things for them. For example, I helped an elderly lady secure people to clean out her house to be ready to sell. They often have accumulated a lot of stuff!

The Silent Generation values hard work, family, tradition and discipline. The are often the group that is looking at reverse mortgages, they may want to stay in their home awhile longer but do not have the money for the necessary repairs to keep their home liveable. To be eligible for a reverse mortgage, you need to be 62 years old or older; the older you are the more of your equity you can free up to either repair your current home or use for medicine, etc. There are no restrictions on the use of the money.

The Baby Boomers are perhaps the busiest. They often have parents in a generation above and children in a generation below! There are approximately 78 million Boomers and they are often the richest generation. They are concerned about retirement and healthcare issues. When they look at a home, they often want open floor plans, master on main, and an office space. Often they are looking for a room they can convert if an elderly parent needs to live with them.

The Generation X people typically will stay in their homes a shorter amount of time than previous generations. They are not tied to a job as earlier generations were and often will switch for greater job satisfaction. They like to have entertainment spaces. They are very well informed and fairly tech savvy; with 81% using the internet to find their homes. But they still need Realtors® to look at the history, resale values and potential zoning issues.

Generation Y are the fastest growing Generation. They are just entering the work force and because of the $8,000 buyer's credit; are also taking the home buying population by storm. Generation Y is plugged in 24/7 with I-Phones, Blackberrys, and other devices. They typically will prioritize family over work. They want a house that is move in ready, no painting, no fixer upper, no huge time commitment to make the house their own.

Understanding the various generations helps me to zero in on what type of community and Fishers home will work best for the buyer and their lifestyle. It helps me know what kind of information to give them about finances to make the most sense for what they want to accomplish. It isn't about just finding someone a house, it is about finding them a home...and there IS a difference.

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

National statistics show that nearly 1 in 8 mortgages across the United States are in some type of default (at least 30 days late) or are in the process of a foreclosure. Foreclosures can often be avoided. If you know of someone who is struggling, please pass this information along to them. Here are a few alternatives to foreclosure:

Foreclosure Avoidance Options

Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. The options available to residents for foreclosure are many, including but not limited to short sales. Following is a brief explanation of these solutions:

Reinstatement


A reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale.

Forbearance or Repayment Plan


A forbearance or repayment plan involves the homeowner negotiating with the mortgage company to allow them to repay back payments over a period of time. The homeowner typically makes their current mortgage payment in addition to a portion of the back payments they owe.

Mortgage Modification


A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically result in a lower payment to the homeowner and a more affordable mortgage.

Rent the Property


A homeowner who has a mortgage payment low enough that market rent will allow it to be paid, can convert their property to a rental and use the rental income to pay the mortgage.

Deed in Lieu of Foreclosure


Also known as a 'friendly foreclosure,' a deed in lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process. Lender approval is required for this option, and the homeowner must also vacate the property.

Bankruptcy


Many have considered and marketed bankruptcy as a 'foreclosure solution,' but this is only true in some states and situations. If the homeowner has non-mortgage debts that cause a shortfall of paying their mortgage payments and a personal bankruptcy will eliminate these debts, this may be a viable solution.

Refinance


If a homeowner has sufficient equity in their property and their credit is still in good standing, they may be able to refinance their mortgage.

Servicemembers Civil Relief Act (military personnel only)


If a member of the military is experiencing financial distress due to deployment, and that person can show that their debt was entered into prior to deployment, they may qualify for relief under the Servicemembers Civil Relief Act. The American Bar Association has a network of attorneys that will work with servicemembers in relation to qualifying for this relief.

Sell the Property


Homeowners with sufficient equity can list their property with a qualified agent that understands the foreclosure process in their area.

Short Sale


If a homeowner owes more on their property than it is currently worth, then they can hire a qualified real estate agent to market and sell their property through the negotiation of a short sale with their lender. This typically requires the property to be on the market and the homeowner must have a financial hardship to qualify. Hardship can be simply defined as a material change in the financial stability of the homeowner between the date of the home purchase and the date of the short sale negotiation. Acceptable hardships include but are not limited to: mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation, and more.

This represents only a summary of some of the solutions available to homeowners facing foreclosure. Locate a CDPE in your area for an evaluation of your individual situation, property value, and possible options.

Understanding your options now could mean all the difference in the world.

For more information on the alternatives availiable to you, please visit www.indianapolisavoidforeclosurenow.com or call a member of our team.

With 731 homes for sale in Carmel, it is good to see them selling again! Of the 731 homes for sale in Carmel, 245 of them are over $500,000 or 34% and 62 of them are less than $150,000 (less than 10%). In addition 93 of those 731 homes were built in 2009 so still a very active new construction market in Carmel.

The graph shows two months in a row where 2009 sales are more than 2008 and October is showing a 63% increase, which is a significant increase from a year ago.

In October we had 126 homes sell and there were five that were over $1,000,000. The first one sold for $1,250,000 in the Village of West Clay, but was on the market since April of 2008. The second one sold for $1,100,000 in Laurelwood and was 10,000 sq ft on over 1.5 acreas. It was assessed at $1,700,000 and as a result sold in 21 days. Quite a difference between those two; showing pricing will make a difference.

There were 21 homes sold in Carmel that were less than $150,000. It is hard to find a home in Carmel in that price range, but it can be done. This Carmel Realtor knows where they are.

Distressed properties were 19 this month compared with 8 last year; so those deals are still out there. I closed one of those this month; it was in Bellewood. We bought it for $485,000 and it was in great condition; the last time it sold it went for over $700,000. My buyer got instant equity!

The Days on Market were 84 this year and 83 last year so no real change and still less than 90 days which is great and not surprising for this area with a great school system, shops and those lovely round-a-bouts!

The price per square foot took a nice increase in comparing the two years, from $108 to $112 or a 4% increase.

Finally the neighborhoods that sell the most are the usual suspects with Village of West Clay, Lexington Farms, Brookshire and a new one this month, Lenox Trace.

Let me know if you would like your neighborhood evaluated specifically because the data does VARY by neighborhood.

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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

It's my monthly analysis of the Fishers Real Estate market. There are currently 759 homes for sale in Fishers, with 135 of them below $150,000. Here is a quick list of those homes less than $150,000 in Fishers; it is dynamic so changes daily. Those are great homes for first time buyers to take advantage of the extended $8,000 tax credit. If you haven't already heard, there is a credit for repeat buyers as well now. The rules are:

1. Must have lived in the home five of the last eight years
2. Must have a married income of less than $225,000 or a single income of $125,000
3. Must purchase a new home
4. Both the sale and buy must take place between now and 4/30/2010; closing before 6/30/2010.

Moving into the October market for Fishers, we saw 118 homes close compared with 114 last year. This is great to see after several months of 2008 beating 2009. We are currently still behind about 7% from a year ago in looking at the year to date figures. In terms of distressed properties, there were 15 this month and 14 last October.

The average days on market were 80 this month which is substantially less than they were a year ago at 96. The average price per square foot remains relatively constant at $100 from a year ago; so not a great deal of appreciation this year although it DOES vary by subdivision.

We saw Sunblest Farms hit it out of the park this month with 7 sold properties and the days on market were 4, 5, 8, 13 and 34 for five of those. When you can list a house and sell it in the same week; that's a hot neighborhood!

Lake Stonebridge had three that sold this month; it is where I ultimately want to retire! I watch that neighborhood closely.

There were two homes that were over $1,000,000 sell this month; the days on market for those were significant at 156 days and 246 days.

If you'd like specific information on your neighborhood, send me a quick email or reply to this blog post and I'll give you graphs and statistics on your home.

I am your Fishers Realtor signing out!

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

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