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The Randy Worrell Group
RE/MAX Legends Group
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317-819-4663
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Presented by: The Randy Worrell Group

Real Estate Review

Sales Expected to Stabilize Through Summer

Little change is expected in Indianpolis real estate sales of existing homes over the next few months, before notably improving during the second half of the year, according to the latest forecast by the National Association of Realtors.

Lawrence Yun, NAR Chief Economist, said the market will come into clearer focus this summer. “Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure,” he said. “The wider access to affordable credit should increase sales activity notably this summer as pent-up demand begins to be met.”

Let’s take a look at the 1st Quarter sales statistics to see how 2008 is shaping up:

Annual & Monthly Waterfront Statistics - 2005 to 2008

Northern Marion County - Waterfront Only - Single Family Homes

Northern
Marion County

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

Highest Sold
Year-to-Date

1st Qtr 2008

 132

 33

 $226,547

 135

$630,000 

Year End 2007

510

229

$225,085

86

$1,150,000

Year End 2006

520

270

$276,312

77

$1,500,000

Year End 2005

538

275

$292,798

71

$2,475,000

Carmel - Waterfront Only - Single Family Homes

Carmel

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

Highest Sold
Year-to-Date

1st Qtr 2008

 65

 24

$475,154 

 94

$1,395,000 

Year End 2007

257

139

$504,753

74

$2,700,000

Year End 2006

249

147

$535,023

89

$4,348,000

Year End 2005

273

149

$438,601

77

$1,625,000

Fishers - Waterfront Only - Single Family Homes 

Fishers

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

Highest Sold
Year-to-Date

1st Qtr 2008

 107

 30

 $347,597

 108

 $1,470,000

Year End 2007

340

160

$303,771

70

$1,530,000

Year End 2006

337

170

$317,625

80

$1,318,000

Year End 2005

332

187

$302,444

69

$2,100,000

Northern Marion County - Waterfront Only - CONDOS

Northern
Marion County

New
Listings

Sold
Listings

Average
Sales Price

Average
DOM

Highest Sold
Year-to-Date

 1st Qtr 2008

 76

 24

 $164,387

 103

 $715,000

Year End 2007

326

137

$178,118

94

$640,000

Year End 2006

313

165

$180,791

82

$680,000

Year End 2005

331

187

$169,350

69

$817,500

Real estate continues to be an excellent long-term investment. Spring is our busiest market time with the most inventory to choose from. Many buyers want to be able to make a move over the summer when school is out, making now the time to buy. Are you thinking about buying a home?

Give me a call, 317-819-4663. Together, we'll get you the best possible deal!

You can find additional sales stats for our entire market area in our Recommended Links section on www.HomesOnWater.com.

Statistics provided by the Metropolitan Indianapolis Board of Realtors and are deemed reliable but not guaranteed. 

Spring 'Greening' Around the House

Practically everywhere you look around the house, there’s a way to be greener. From improving indoor air quality to waste reduction to energy savings, there are many easy steps you can take to ease the impact on the environment.

Paint it green

Even if it’s not your color of choice, green can be incorporated into your home quickly and cost-effectively with paint.

The buzzwords (or initials) in paints these days are VOCs, or volatile organic compounds. Simply put, VOCs are chemicals that can sometimes be detected by odors in the air -- and that can affect a home’s indoor air quality. Besides having low- to zero-VOCs, the paint you select should also be high performing. The more durable the product is, the better it covers and the less frequently you need to repaint -- which is another benefit to the environment.

A steamy solution

VOCs can also lurk in areas where dry-cleaned goods are stored, as the process commonly uses harsh chemicals that can remain on clothing.

When purchasing a dryer or any other new appliance for the home, it is also important to consider if the model is Energy Star rated. The U.S. Environmental Protection Agency created the Energy Star program in 1992 to promote energy-efficient products. Purchasing household products with the Energy Star rating is a giant leap toward reducing your home’s energy use -- and your utility bills.

Upgrade and save

If you’re like most people, you’ve probably been resigned to rising utility bills. According to the Alliance to Save Energy, the average household spent almost $2,100 on home energy costs in 2007, and with heating and cooling costs typically accounting for nearly half of a home’s energy bills, it can literally pay off to take a closer look at your heating, ventilation and air conditioning -- or HVAC --system.

In general, pay attention to the Seasonal Energy Efficiency Ratio (SEER) rating on your air conditioner. As a rule of thumb, the higher the rating, the higher the efficiency and the lower your bills. For instance, the XL19i, with one of the highest SEER ratings available of up to 19.5, could save you up to 59 percent on your annual energy bill. Also, look for a furnace with the highest Annual Fuel Utilization Efficiency (AFUE) rating available, as this rating is comparable to miles-per-gallon in a car. The XV95 has an AFUE rating of up to 96.7 percent, which can save you up to 40 percent annually on energy consumption and, in turn, lower your energy bills.

A bright idea

Also when it comes to energy usage, the U.S. Department of Energy says almost a fourth of a typical home’s energy bills goes toward lighting the home. Installing light dimmers is an easy, inexpensive way to save on these costs and at the same time create ambiance in rooms where mood counts, such as in the dining room, bedroom and bathroom.

These efficient dimmers look and function like typical dimmers in every other way, reducing light levels to as low as five percent and reducing energy use even further.

Making a few easy green improvements around your house can help you be friendly to the environment -- and your wallet. (ARA)

Some Kind Words...

"RANDY DEMONSTRATED A PROFESSIONAL ATTITUDE…

I received excellent service from Randy and Patti in the sale of my old home & the purchase of my new home.
 
The suggestions Randy gave as they related to preparing my old home to be sold were very helpful. I think that those suggestions helped to expedite the sale of my old home. Also, when I was looking at potential new homes, Randy was always available to show me those homes. Randy demonstrated a professional and patient attitude. His sense of humor helped to establish a friendly relationship between myself & Randy. Also, since I made the decision to build a home, Randy’s assistance helped to guide me through the process of building a home. Randy made every attempt to make all the appointments that I had with the builder. If Randy was not available, he made sure that a colleague was available to take his place. However, Randy’s absence from any meeting was a rarity.
 
Lastly, it was also a pleasure to work with Patti, Randy’s assistant. I’m sure that the work that she performed, i.e. scheduling home viewings, providing copies of listings & other written correspondence, and other miscellaneous tasks helped the process to run smoothly.
 
Delores E.
Indianapolis 


Click on the 'Red Button' above on the right for a FREE Market Analysis of your home. Click on the 'Green Button' for our 'simple' automated real estate listing search.  You will absolutely love the results!  

We would be more than happy to email you the market activity - Active and Sold statistics - in your Neighborhood!

  Want to be near water, but not on water?   Just Let Us Know !!

Put My 22 Years Experience To Work For You !! 

For Sale: $375,000
 
 
RE/MAX Legends Group, 5645 Castle Creek Pkwy N, Indianapolis, IN, 46250


 
RE/MAX Legends Group
5645 Castle Creek Pkwy N
Indianapolis, IN 46250
Last modified 5/9/2008