Indy Realtor's Blog: Indianapolis Real Estate

The Indianapolis real estate market in Pike Township seems to be following the same basic trend as the rest of greater Indianapolis.  The number of homes sold is dramatically down and the average selling price is down slightly.  Let’s take a look at some details…

Active:

There are currently 829 Indianapolis houses active on the market in Pike Township as of today.  The average home is listed for $142,046 and is priced at $79 per square foot.  In October, 150 homes were added to the market with an average asking price of $139,870.

Sold:

There were 76 homes that sold in October in Pike Township with an average selling price of $128,244.  On average, it took 99 days to sell, sold for 97% of the asking price and sold for $73 per square foot.  In…

I don’t normally like to do a report just on Indianapolis real estate because I feel that it too broad of a search to get a realistic picture of what is going on in the marketplace.  However, it does provide some good overall data that can be used to compare with some more local statistics.  So, I will give the Indianapolis numbers and then follow it up broken down by townships so that we can see how the individual townships fare as compared to the overall market. 

October 2007 had 822 Indianapolis homes sell with an average selling price of $101,923.  The average home in 2007 was on the market for 89 days and received 96% of the asking price.  This is in comparison to October 2006, when 1143 homes sold on the Indianapolis real estate market with an…

I realized the other day as I was reviewing a HUD-1 or Settlement Statement with a client of mine, that while I take the ability to scan one of these for inaccuracies, errant charges, or omissions, that many intelligent people don’t know how to read one.  I have set out to go through it line by line in simple English so people know what they are looking at. 

This article will cover the seller’s side of the transaction and I will follow up with another article for the buyer’s side.  Okay, let gets to it.

I think it makes more sense to start on the second page and then go to the first.  The entire second page is where they are detailing the fees you will be incurring for the sale of your house.

Page 2

• Line 700: This…

If you planning on purchasing an Indianapolis home in Marion County in the next 10 months you need to be careful about the current property tax situation or you could end up paying dearly.  For those not familiar with what is going on I will provide a way oversimplified explanation of what has happened:

1)      The entire state re-assessed residential real estate and property taxes went through the roof for a variety of reasons.

2)      People went crazy and protested when they got their tax bills.

3)      It came to light that commercial property was way undervalued in comparison to residential real estate.

4)      The Governor ordered Marion County (and a few others outside of Indianapolis) to re-assess both commercial and residential real…

A new batch of 300 Indianapolis condos will soon be available on Indianapolis’ far north side.  Sun Shiel Properties Group is developing a project called Renaissance Bay off of Keystone Avenue just south of 78th Street.  Renaissance Bay is projected to have a mix of 300 one story flats and 3 story town homes and prices are expected to range from $360,000 - $750,000. 

The single story flats in Renaissance Bay will be in four and five story buildings, range in square footage from 1580 – 3200, and prices are projected to be $360,000 - $750,000.  The 3-story town homes will range in price from $480,000 - $550,000 and will have an average of 2400 square feet.
 
Renaissance Bay will be located along the White River and will feature river views and…

This will be a short one, as there are not too many details right now.  Premier Properties USA is looking to develop the southwest corner of 86th Street and Keystone into a mixed use development that would include a hotel, offices, shops, and condos. 
The project is called Woodfield Crossing and is in the beginning stages of planning and development.  The Premier Properties’ website talks vaguely about upscale businesses, top quality restaurants, and sidewalk bistros but offers little details about the project.  Premier purchased two office buildings on the site from Duke last month and these will also be incorporated into the site.

 They are scheduled to present the plans for Woodfield Crossing to the Nora-Northside Community Council on August… Read Full Post

Just when you think it couldn’t any worse the City-County Council passes a bill that will raise the Marion County income tax by 65%.  This increase is on the heels of another income tax increase that just took place July 1 and of course follows the property tax debacle everybody is already reeling from.  The money from the tax increase is going to be used for Mayor Bart Peterson’s $90 million crime fighting plan. 

The current 65% tax increase means that if you make a combined income of $100,000 per year, it will now cost you an extra $650 to live in Marion County.  Maybe it is my knee jerk reaction as a Marion County resident, but I think this is totally ridiculous.  This makes me want to sell my Marion County house and move to Hamilton County where…

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…