Chanda Barrick REALTOR (Indianapolis, Avon, Greenwood)

Broad Ripple Village Data

Following is the market report for the area known as Broad Ripple Village as of May 4th 2009. April 2009 sales were down compared April 2008 (13 sold); however, sales in April were much better than March 2009 with only 4 sold. More properties have been listed giving you a greater selection and is a sign that the market is making a slight recovery, at least for now.

Broad Ripple Village is bound by Kessler Boulevard East Drive on the south, North Meridian Street on the west, the White River on the north, and North Evanston Avenue on the east

Broad Ripple Village is an area that is the perfect combination of old and new. Here you'll find homes built anywhere from the 1800's to current date. Broad Ripple has something for everyone with great restaurants, shopping, entertainment, and an emphasis on being active and healthy.

For more information on Broad Ripple and all that it has to offer, please visit the Broad Ripple Village Association home page.

Please feel free to contact me with any questions you may have about the area or if you'd like me to send you the current active listings in the area. I look forward to hearing from you!

Search homes currently on the market

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Call me at 317-889-1111 or email me at chandasellsindy@sbcglobal.net

Some of you looking to purchase a home may be wondering how a a pre-qualification differs from a pre-approval.

A Pre-Qualification letter essentially means you spoke to a lender about your desire to purchase a home...You let them know what your income is and your monthly obligations are (car payment, personal loan, child support, etc.). They may or may not run a credit report. Obtaining a pre-qualification letter is basically a quick conversation on the phone to see what you "may" (keyword is "MAY") be able to qualify for. It's simply an estimate.

A Pre-Approval letter requires a bit more work. This also starts out by a conversation with a lender; however, obtaining a pre-approval letter requires some documentation to support your information. You will need to provide things like your W-2's, last two pay stubs, bank statements, etc. A credit check will also be performed upon requesting a pre-approval letter. This will provide a much more accurate estimate as to what you will realistically be able to borrow, should you find the home you are looking for.

So....Long story, short...When it comes down to it. Try to obtain a Pre-Approval for a mortgage as it will make your actual offer a stronger and more desireable offer. More importantly, it will give you the ability to search for a home with more confidence in obtaining the financing you'll need to make the purchase!

Please feel free to contact me with any questions you may have about the area or if you'd like me to send you the current active listings in the area. I look forward to hearing from you!

My website
Call me at 317-889-1111 or email me at chandasellsindy@sbcglobal.net

Buying a home is a major deal. When doing so there are some things you need to consider when looking for your next home. Below is a list of 8 areas you need to consider when making your purchase. Not only will it help you feel confident you are choosing the right home, it will help you give your Realtor the best information to help you find the home that’s right for you…

1. How many people will the home accommodate?
   This will help you determine how many bedrooms you need and the overall square footage you will require in a home.
   
2. How do you feel about yard work?
   Do you dream of owning a home with a large open yard or one that almost feels like a cabin deep in the woods? Do you absolutely hate working outside? Do you want the yard to accommodate a host of activities for you, your friends, and family? Do you have a pet(s) that need space for exercise? All of these factors will influence your choice in home. While a condo or home in a neighborhood that provides lawn care, snow removal, etc. may be a good choice for those that don’t enjoy yard work or simply don’t have the time. Other home buyers would prefer to maintain a garden, lush landscape, pool, etc. Keep this in mind when specifying your criteria for your home. Many people don’t put enough thought into this factor and end up regretting their decision in home choice after it’s too late.
   
3. Do you or any other potential residents of the home have any special needs?
   This may be important in that you may require a home that is a single story home due to mobility, or maybe you require wider door openings. Think about steps and whether or not there would be an easy way to accommodate the resident if there are. Do you require a garage of a certain size, height, etc. due to the need for a special type of vehicle? Do you need a shower vs. a tub, again consider these types of things in searching for the right home.
   
4. What stage of life are you in?
   This may play an important part in selecting your next home. Do have a specific school district you would like your children to attend? Do you want kid-friendly amenities nearby (a community park, neighborhood park, etc)? Do you want to live in a “walking” neighborhood, one with sidewalks which may be safer for younger ones riding trikes and bikes…? Are any convicted child molesters living in the immediate vicinity? On the flip side, would you prefer to live in a community for those that are entering the golden years of your life? Would you like a community that hosts group activites, group outings, etc. These are all factors you need to consider when purchasing a home…
   
5. What type of community (or privacy) do you prefer?
   Many people enjoy the feeling of community; therefore, they would like to select a home in an area where this is a since of community and neighborhood involvement. Maybe they hold annual garage sales, or have an annual parade, etc. Again, would you prefer a neighborhood conducive to taking daily walks and/or walking your pet(s)? Would you prefer homes on much larger lots or in secluded areas which give you a feeling of privacy? Would you prefer to be somewhere in between the two extremes?
   
6. Do you want “move in ready” or a “fixer upper”?
   You may decide a fixer upper is the better choice because you could save some money on the purchase price, but be careful that you do not get in over your head. It may end up costing more than it’s worth if you don’t have the expertise or the money to do all that’s required. If you are not one for taking on projects, a move-in ready home may be the best choice for you.
   
7. Do you need to be close to your place of employment or public transportation?
   If you are considering moving to an area you are not familiar with, it may be a good idea to consider the traffic patterns. While it may be physically closer to your job or other areas of importance, it may actually take longer based on the congestion, etc. Do you need a home that is close enough to walk to transportation or drive your vehicle a short distance to get there?
   
8. Finally, consider amenities and features in the home that are “nice to have” vs. what you would consider essential…
   

Please feel free to contact me with any questions you may have about the area or if you'd like me to send you the current active listings in the area. I look forward to hearing from you!

My website
Call me at 317-889-1111 or email me at chandasellsindy@sbcglobal.net

The answer is:

It depends…

Not what you wanted to hear, right? But there are many factors that can affect whether or not you should try to get your current home sold before purchasing a new one. If you have no money for a down payment (let’s face it unless you qualify for some of the various down payment assistance programs out there, you need money for your down payment and closing costs these days) and you have some equity in your home, you may need to sell your home in order to get the money you need for the down payment on a new home.

You also need to think about whether or not you can afford two mortgages. Although you may have enough money saved to cover the down payment, how long can you swing two mortgages? If you do end up selling your home before you find a new one, you may consider renting your first home to cover the mortgage. If you had hopes of getting into purchasing properties, this may be the perfect segue. Again, another example of something you should consider before rushing out to purchase your next home.

You may be looking specifically for a “fixer-upper”. If this is the case and you have the funds available, maybe it is a good idea to keep your current home while renovations in the new one take place. We all know renovations can take a toll on you and living in the middle of it can really affect your sense of balance in life. Take it from me, if I could do it over again, I’d have rented an apartment or something until the renovations in my house were complete. It can be overwhelming and take you longer to finish the renovation in the long run.

Depending on your market, it may be very slow. As a result, this may be the perfect time for you to find a deal on your next home. While you may find the perfect house at the perfect price, you still have to consider that your home may not sell as quickly. Again, can you handle the extra payments?

There are likely dozens of other reasons why it may or may not be a good idea for you to sell your home before you purchase a new one; but in reality, the biggest factor will most likely come down to money…

Do you need equity from your current home to get into a new one? Can you afford to carry both for an undetermined amount of time?

Please feel free to contact me with any questions you may have about the area or if you'd like me to send you the current active listings in the area. I look forward to hearing from you!

My website
Call me at 317-889-1111 or email me at chandasellsindy@sbcglobal.net

Pulte homes has agreed to buy Centex Homes for 1.3 Billion dollars along with Centex's 1.8 billion dollar debt. It should be interesting to see how this acquisition works out. It appears as if Pulte has actually done quite well through the decrease in home construction. They've only lost about 1.5% of their stock price while others have lost significantly more (Centex stock has lost 28% of their price this year) in their stock prices. Private companies have also been hit by the declining number of homes being built.

As for the Indianapolis market, it appears as if we are still quite strong. In 2008 we had a total of 7,004 building permits pulled making us one of the healthiest housing markets according to Builder magazine and Hanley Wood Market Intelligence. According to this report it also seems as if the Carolinas are doing quite well. There were quite a few Carolina cities listed here.

As for when we will make a full recovery, analysts all have their own predictions. Only time will tell when we are fully back up to full speed. I just hope we have a bit more sense this time around.

Please feel free to contact me with any questions you may have about the area or if you'd like me to send you the current active listings in the area. I look forward to hearing from you!

My website
Call me at 317-889-1111 or email me at chandasellsindy@sbcglobal.net