Indy Realtor's Blog: All Categories

 

While the rest of Carmel real estate and Indianapolis as a whole have seen dramatic decreases in the number of homes sold, Bayhill real estate has seen an incredible 110% increase in the number of homes sold for 2007 versus 2006.  Here is a breakdown of what happened for 2006 and 2007 for Bayhill real estate:

 

 

  2006 2007 % Change Active N/A 2   Homes Sold 10 21 110% High Selling Price $775,000 $899,900 16% Low Selling Price … Read Full Post

 

It what could be a watershed moment for Zionsville and the new mixed use mega-project, Anson, Medco has selected Boone County and Anson for their newest and biggest facility in the nation.  Medco is the nation’s largest pharmaceutical mail order distribution company and they just announced plans to build a 318,000 square foot facility on the border of Zionsville that will employ 1,300 people by 2012 with an average salary of $53,000.  That is almost $70,000,000 a year that is going to be pumped into the economy over the next few years!

Undoubtedly, this is going to have a huge impact on Boone County, Zionsville real estate, and the Anson project for years to come.  Boone County overall has pretty resistant and slow to grow at the pace of some of its…

Read Full Post

IndyGo will soon be adding an express commuter bus that will shuttle people from Carmel to downtown Indianapolis during rush hour.  IndyGo recently launched the same service for Fishers and have had an outstanding response with 11,000 riders since the October launch.  The routes for the Carmel shuttle are still being finalized, but the system is scheduled to commence mid-January.  The tentative route for Carmel will depart from somewhere near Carmel Drive and Pennsylvania and will make the same 6 stops in Indianapolis that the Fishers bus does.  Officials for IndyGo are also looking at adding a third route in either Hendricks or Johnson County.  The buses leave every 30 minutes from 6:00 A.M. to 8:30 A.M, returning from 4:15 P.M. to 6:15 P.M., and cost…

Read Full Post

Geist has lost the first major battle in a war against the annexation by the town of Fishers.  In a recent ruling, a Hamilton County judge ruled that Fishers could go ahead with its efforts to annex 2,200 Geist homes which effectively squashed their attempts to incorporate as two new towns: East and West Geist. 

Now the real battle ensues and this one could be lengthy and very expensive for both parties involved.  Geist homeowners estimate that they will need to raise at least $200,000 to cover their legal expenses.  Obviously, Fishers has deeper pockets but they must determine at what point it makes fiscal sense to pursue this annexation. 

I would not expect this one to be resolved anytime soon but I definitely keep my eye on any developments.  While…

Read Full Post

Indianapolis real estate is the most affordable in the nation according to the National Association of Home Builders.  The NAHB recently released a report outlining the most and least affordable real estate markets in the nation and Indianapolis was the most affordable for the 9th consecutive time.  The report indicates that an amazing 87.5% of Indianapolis homes sold in the third quarter were affordable to families earning the areas median income.
 

The Indianapolis real estate market has been getting lots of good press lately including this article by CNN which names Indianapolis the number 2 real estate market poised for a comeback.  All of these reports should bolster consumer confidence in the Indianapolis real estate market and hopefully provoke an…

Read Full Post

Active:

In November 2007, 104 homes were added to the Carmel real estate market with an average listing price of $286,248.  There are currently 551 total homes on the market with an average asking price of $300,836.  The active homes are asking $124 per square foot and have been on the market for 98 days.

Sold:

November 2007 saw 65 homes sell in Carmel with an average selling price of $270,081.  The sold homes in November 2007 sold for $110 per square foot and took 95 days to sell.  November 2006 had 80 homes sell on the Carmel real estate market with an average selling price of $291,121. 

As you see the Carmel real estate market is down in both the number of units sold and the average selling price.  The number of homes sold is down 18% while the…

Read Full Post

Indiana will be getting $20 million in federal grants that will help pay for greenway and beatification projects in the Indianapolis area.  Six projects in the Indianapolis area will benefit from this grant money including an extension of the Monon Trail and a new trail in Beech Grove.  Here is how the money is to be allocated:


 

-         $1 million to Beech Grove to build a new 1.8 mile greenway.

-         $1 million to Hamilton County to buy land for the extension of the Monon Trail.

-         $600,000 to Hamilton County to rehabilitate a bridge that will provide a new pedestrian crossing over the White River.

-         $1 million to Cumberland for the construction of the Buck Creek Trail.

-         $1 million to Indianapolis…

Read Full Post

The corridor along I-65 in Greenwood is apparently the place to be right now.  Two more hotels, on top of the other three, may go up in Greenwood near the new Cablea’s store.  La Quinta and Value Place are the two newest companies looking at Greenwood.  The proposals would put La Quinta on the north side of Main Street and Value Place on the south side of County Line Road. 

These proposals come on the heels of the giant 125,000 square foot Cablea’s going up at County Line and Graham Road.  Since then plans for 3 other hotels have been announced: Hilton Garden Inn near Cabela’s, Candlewood Suites on Graham Road, and Splash Universe a water park is also planning a hotel. 

These two new proposals certainly indicate that Greenwood is on the move and… Read Full Post