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The Greenwood City Council has given the green light for an $18 million bond to entice the outdoor retailer Cabela’s to build a new megastore in Greenwood.  Cabela’s has plans to build a 125,000 square foot store on the southeast corner of I-65 and County Line Road.  Construction would take six to eight months and they could be selling outdoor gear to Hoosiers as early as fall 2008.

Cabela’s in Greenwood plans to have a giant mountain replica with running streams and waterfalls as its centerpiece to the store.  In addition, they plan to have an indoor archery range, a large freshwater fish tank with native species, and a world class gun collection.

What does this mean for Greenwood real estate?  The projected 200 jobs and 3 million annual…

In a previous blog, I had mentioned that there were new home layoffs in the Indianapolis new home industry and that the word on the street was that KB Home would soon be leaving the Indianapolis market.  Well, three months later that prediction has come true.  KB Home announced that they will indeed be pulling out of the Indianapolis new home market by the end of the year. 

I would also like to reiterate that I do not believe that will have a long term negative impact on Indianapolis new homes or the Indianapolis real estate market as a whole.  It is no secret that there are WAY too many builders in the Indianapolis market to begin with.  I believe that having one less builder to compete with will actually have a positive impact on the market.  It may…

Unlike other parts of the country and years past, it is NOT wise from an investment point of view to be one of the first people to buy in a new home neighborhood in Indianapolis.  As a matter of fact, you could really end paying up the price if the builder is not meeting their initial rosy projections and start offering crazy incentives to move houses.  Indianapolis new home builders are renowned for offering things like: free basements, free sunrooms, free granite, etc. 

The reason I was thinking about this was because I am working with a client who is looking at the Hansen and Horn neighborhood in Greenwood Smokey Row.  Their sales have not been what they expected and they have decided not to build in the second section of this development. …

2984 Amherst Street, Indianapolis, IN 46268

$144,900

This condo located in the College Park subdivision is a tremendous value for someone looking for the convenience of the near north side.  The condo offers just under 1300 square feet and has 2 bedrooms and 2 bathrooms.  The condo offers a low maintenance brick exterior, has recently been painted, has a remodeled bathroom, and offers mature trees and landscaping.  With its proximity to St. Vincents Hospital this condo would perfect for a young couple or a doctor doing their residency. 

College Park is quiet subdivision that is located in between 86th street to the south, 96th street to the north, Michigan Road to the west and Township Line Road to the east.  From this…

The former site of the Market Square Arena now has two developers vying for two very different visions of what downtown Indianapolis will look like.  The two developers that are interested in the site are Market-Ability Partners and Market Center Partners.

 The reason both of the developers are submitting new plans is because the first attempt to build a 31 story condominium project of the Market Square site failed to get financing last year and the project was scrapped.  One of the major reasons for its failure was that the project’s financing had a presale condition that required them to sell so many units before it could begin. 

Market-Ability Partners Proposal

Market-Ability Partners is comprised of Hearthview Residential, Mansur Real…

New Listings

 Noblesville real estate had 206 new listings with an average list price $286,923 in March 2007.    In March of 2006 Noblesville had 188 new listings  with an average list price of $239,307.  For this area, this is a huge increase in average listing price with the average listing price going up over $47,000 or 20% in just one year.  Let’s not get too excited, anyone can ask anything they want their house;  until it sells it means nothing.

Pending

 In March 2007, 83 Noblesville homes went pending with an average list price of $207,452, compared to March 2006 when 95 Noblesville homes went pending with an average list price of $183,653.  This is still great news for the Noblesville real estate market, with an increased list price of…

Within the past week, both Beazer Homes Indianapolis and KB Homes Indianapolis have gone through another round of layoffs.  The word on the street is that KB Homes will be selling off their remaining land and pulling out of the Indianapolis area. 

While on the face of it this may seem like bad news for the Indianapolis real estate market, I believe that if KB does pull out this will have a positive impact.  Indianapolis builders have flooded the marketplace with a glut of new homes and have been a major force in keeping prices stagnant in the Indianapolis marketplace. 

 Less competition is always good for prices…