Real Estate Information

Compared to January 2009 - we have some good news.

The number of Sales and Pending Sales are down from the same time last year, but two Averages are up noticeably.

The Average Home Sales Price is up from $120,850 to $135,519, which is a 12.14% increase.

The Medium Home Sales Price is up from $86,900 to $100,000, which is a 15.07% increase.

In January 2010 there were 3,980 homes listed, an 11 percent increase compared to the same month last year.  The first positive increase since February of 2008.

Foreclosure property sales reported in the Broker Listing Cooperative (BLC) fell by 38 percent in January compared to one year earlier. 

TIME IS RUNNING OUT: Anyone that hasn't owned a home in the past 3 years could be eligable for the Federal Tax Credit up to $8000.  All qualified buyers must have an accepted offer by the end of April and must close by the end of June 2010.

The 2010 census survey conducted by the U.S. Census Bureau will be underway in March.  According to the Better Business Bureau it presents a great opportunity for identity thieves to start running scams. While it is our duty to respond to the survey, we do not have to provide sensitive personal information.

The purpose of the survey is to get a physical count of the people in each household. Here are some tips from the Better Business Bureau:

You will first receive a questionnaire in the mail. If you fail to respond a census worker will visit you.   If that fails you may receive a phone call, but you will never be contacted by e-mail.

If they come to your house verify the U.S. Census worker is who they say they are.  Each U.S. Census worker will have a badge, a handheld device, a Census Bureau canvas bag and a confidentiality notice.

Ask to see their identification and badge before answering their questions.  U.S. Census workers are currently verifying address information.

U.S. Census Bureau will not ask for Social Security, bank account or credit card numbers nor will employees solicit donations.

Do not give your Social Security number, credit card or banking information to anyone, even if they claim they need it for the U.S. Census.

Do not invite anyone you don’t know into your home.  The survey is very short. It is 10 questions that shouldn’t take more than 10 minutes.

To see a list of the questions please go to 2010 U.S.

Census at http://2010.census.gov/2010census/how/interactive-form.php

Source: ID Theft Assist

The housing market came through the past year in rather better shape than might have been expected; home sales were down only 4 percent (969) from 2008. In the past year we experienced instability in financial markets and the subsequent sharp contraction in the economy, and some dynamics in the market remain: unemployment and buyer confidence.  

The 4th quarter housing market in the Indianapolis area flourished with homes posting a dramatic rise.  Home sales were up 15 percent from 4th quarter 2009 versus 4th quarter 2008.  Buying activity in nine counties surrounding Indianapolis indicates that improved affordability is prompting many first-time buyers to get off the fence, out of their rentals, and into the market.  

A look at county-by-county increases in 2009 home sales from October to December provides some of the details:

Boone       UP    56%   to       211

Johnson     UP   31%   to       477

Hamilton    UP   28%   to     1,131

Shelby       UP   27%   to       109

Hendricks   UP   16%   to       449

Marion       UP   15%   to     2,811

Madison     UP   15%   to       330

Hancock    UP   14%   to       229

Morgan      UP   11%   to       186 

Average Price of Homes Sold in the Indianapolis area December, 2009 vs. December, 2008: 

$142,010    December, 2009

$128,479    December, 2008

Make sure to view the 2009 Waterfront Stats for several areas.  The number of sales are down in every area, but the Average Sale Price is up in all areas except in Carmel.

On the main page of the website, the News link will take you to the stats or use the link below.

http://www.homesonwater.com/Newsletter

If you are considering a sale and/or purchase this year, don't hesitate to contact me.  If you own a non-waterfront home that you would like to sell, let me know.  We will implement our Waterfront Marketing System to help sell your home.

Indianapolis, IN–(December 21, 2009)--November, 2009 home sales in central Indiana increased 27% compared to November, 2008. Sales in the Indianapolis area in November totaled 1,907.  That compares to 1,500 homes sold in the nine county reporting area in November, 2008, according to RE/MAX of Indiana.

  Several Counties Show Extraordinary Gains

All nine central Indiana counties showed gains in November, 2009 home sales compared to November, 2008.  However, Boone, Hamilton and Johnson Counties reported the largest gains.

Ø  Boone County:  67%

Ø  Johnson County:  59%

Ø  Hamilton County: 45%

Tax Credit Extension: Closing Deadline Doesn’t Mean What it Meant Before

The first-time homebuyer tax credit extension will extend the tax credit until April 30, 2010. 

However, there is an additional benefit for qualifying homebuyers under the tax credit extension.

The Senate agreement stipulates that buyers must have a sales contract on a house by April 30 to be eligible, but it gives homebuyers an additional 60 days to close the purchase. 

“There is little argument that the extension of the first time home buyer tax credit should help stabilize home prices,” according to Dan Breault, Regional Director, RE/MAX of Indiana. “Since the program was created home prices have found a bottom and have actually started trending higher.”

There are definitely some areas that are continuing to see lower home prices but as a whole the United States has seen a tick up in the price of homes.  Now that the tax credit will last until April 2010 there is a good chance that we have seen the bottom in housing prices for the time being.  The overall market in the Indianapolis area is beginning to stabilize, year-to-date home sales in central Indiana are down only 4 percent, or 939 homes, when compared to 2008.    

http://www.federalhousingtaxcredit.com/home.html

This link should answer most of your questions regarding the Tax Credit for First Time Buyers AND the new Tax Credit for current homeowners.

First Positive Year-Over-Year Increase Since October 2008  

First-Time Home Buyers Fueling Housing Market 

INDIANAPOLIS - (November 18, 2009) - Indianapolis area home sales in October 2009 surged 23% compared to October 2008, according to new monthly data compiled by RE/MAX of Indiana.

Home Sales: By the Numbers

Ø  2,199  Homes Sold in October, 2009

Ø  1,781  Homes Sold in October, 2008

This jump is the first positive year-over-year percent increase since October 2008, and it can be attributed to first-time homebuyers trying to close on homes prior to the original closing date of the tax credit. The tax credit is now extended. Home sales in the $75,000 to $125,000 range were up 55% compared to the previous year. 

Indianapolis has seen positive growth in home sales since the inception of the first-time homebuyer tax credit in February.

The property tax caps are being phased in with 08 taxes payable 09 at 1.5% for homesteads, 2.5% for rentals, and 3.5% for businesses. The 09 taxes payable in 2010 will be 1%, 2% and 3% for the same classifications.

In order for these to become permanent, the Indiana Constitution must be amended which requires the legislature to pass the caps again for a second time and then the voters have to approve it in a referendum.

When you view or sign up for my Newsletter you will see a monthly update of the Waterfront Sales Stats for our area.

Northern Marion County (Indianapolis) the average sale price has increased $20,033 from the average sale price during 2008 - the average Waterfront Sales Price is now $289,160.

If you want to know what is going on in your neighborhood or your favorite neighborhood, just let us know.

Here is the link to the Newsletter - http://www.homesonwater.com/Newsletter

I'm going to give you the two biggest money-making words there are when it comes to showing your home: depersonalize & declutter.  It'll make your home look larger and is the best thing you can do.

Also, don't forget to make sure your landscaping is awesome.  Fresh mulch, blooming flowers, freshly trimmed bushes and a well groomed & edged lawn is always a huge factor for buyers.