If you have been thinking about shopping for homes in Indianapolis, IN, you could not have picked a smarter time to buy. Mortgage interest rates are historically low, and FHA loans are available with a down payment of only 3.5% of the sales price required at closing. It is a good time to buy because even though closed sales of homes in Indianapolis have slowed each year since 2008, the median sales price of houses in the greater Indianapolis real estate market has remained level during the same period.
Here are some Indianapolis homes that were posted on the MLS/IDX system within the last seven days:
See ALL homes in Indianapolis that are currently for sale.
Homes in Indianapolis Make Excellent Long-Term Investments
An example of a wonderful investment property for couples who have young children or are planning to have them, is to buy a solid, well-built single family homes in Indianapolis as a rental properties. Purchase it using a fifteen year mortgage, select an area where people are eager to live, and have the tenants help pay for the rental. The equity value of rental homes in Indianapolis such as this at the end of fifteen years will be sufficient to pay one child’s four year college tuition costs. There is plenty of desirable income property and investment real estate among the Indiana property for sale currently in Marion County and its adjoining / bedroom counties of Hamilton, Hendricks, Hancock, Shelby, Boone, Johnson, and Morgan.
The Indianapolis Real Estate Market
The Median Sales Price of homes in Indianapolis (MIBOR- Metropolitan Indianapolis Board of Realtors) geographic area of thirteen contiguous Central Indiana counties has gone up each year since 2008. Despite this, Indianapolis homes rank second in the nation based on the National Association of Home Builders 2000 Housing Affordability Index among metropolitan areas with a population of over one million. In the 2011 NAHB Housing Affordability Index, the Indianapolis real estate market, when combined with Carmel, IN ranked 9th in affordability out of 223 US Metropolitan Statistical Areas. Indianapolis homes also rate second in the world in terms of affordability based on the 2011 Demographia International Housing Affordability Survey.
Indianapolis Foreclosures and Short Sales
Two categories of homes in Indianapolis are hot sellers right now. One category that is selling well are distressed Indianapolis Indiana homes that people are buying to live in, rent, or to re-model and sell. These homes include houses in foreclosures, real estate taken over by the banks (REO), short sales in which the bank accepts the less than it is owed on its mortgage loan, and HUD foreclosure sales.
Homes in Indianapolis are Selling
The other category of Indianapolis houses that is selling well is homes that are cleaned-up, are very presentable, and in many cases remodeled. These types of traditional Indiana real estate listings are selling quickly and for good prices. Indy home buyers are saying that they want to buy the best home available in the neighborhood that they are interested in. For example, a Matlin Realty real estate agent recently did a comparative market analysis for an Indianapolis real estate listing in the Butler Tarkington neighborhood of northwestern Indianapolis. This CMA showed that of the twenty-two homes evaluated, 100% of the comparably sized homes that sold in that last two years were very tidy, de-cluttered, and had the maximum number of pictures displayed on MIBOR’s BLC. We were evaluating Indianapolis houses that sold, as opposed to real estate listings that did not sell. Similarly, 76% of these kinds of homes in Indianapolis had major remodeling projects including many total remodels, as well as kitchen, bath, and landscaping updates. The point in a nutshell is that picture perfect Indianapolis homes that have been updated are selling quickly and at a good price.
Indianapolis Condos, Townhomes, and Lofts
Downtown Indianapolis lofts for sale, luxury condos, and townhouses are currently a very popular form of Indianapolis real estate. There are four reasons why for many, the Indianapolis house of choice is downtown. One reason is that because three new sporting venues, a lovely Circle Center Mall, the Eiteljorg Museum of Indian Life, the Indiana Repertory Theater, the Indianapolis Symphony, and the Indiana History Museum are all within walking distance of each other, and there is plenty to do downtown. Another reason that this category of homes in Indianapolis are selling is added supply of downtown condos for sale and of remodeled homes in downtown areas such as Fountain Square, the Old Northside, Fall Creek Place, and Lockerbie Square. A third reason is that with higher gas prices, living downtown saves an hour a day in commuting time, and it reduces gas usage. A fourth reason for the popularity of living in downtown homes in Indianapolis is that it provides a big city feel for young people fresh out of college, and it is a great way for professionals at downtown law firms and the IU Medical Center to downsize after their children have gotten through college.
Popular Styles of Indianapolis Homes
Retirees and empty-nesters have a long wish list of things that they are looking for in homes in Indianapolis, including 1,500 – 2,500 square feet, low maintenance, most want single family detached ranch homes, storage (especially his and her master closets, structurally reinforced attics), open floor plans, and backyard living spaces. For one looking at retirement and looking for homes in Indianapolis, Del Webb / Pulte Homes has a popular offering in the Britton Falls neighborhood in Fishers. Finally a neighborhood where the name matches the environment… there is a lovely natural water fall feature at the entrance to the complex. This community is for active adults, age 55 and better, and it comes with freedom from lawn maintenance and snow removal. This residential housing development has a 23,000 square foot Community and Recreation Center, offering an indoor pool, fitness complex, library, and arts and crafts areas. Owners of these Indianapolis homes enjoy amenities like an outdoor pool, tennis courts, bocce ball courts, walking paths, and great golf in the area. The community also offers 100 acres of open space, including 16 surrounding ponds. Another Indianapolis real estate development that appeals as a retirement home is Ryland Homes’ Stanford Park in Carmel. It offers three home styles in separate sections of the complex, an area of one-story villas, an area of three-story townhomes, and single family two-story homes. Many of these homes offer open concept kitchens flowing into the great room and a sunroom off the back of the home.
Featured Indianapolis, Indiana Communities
Bridgewater. The Bridgewater Club is a golf course community of Indianapolis luxury homes on Carmel’s north side, just south of Westfield, IN. It offers traditional single family custom homes, estate homes, golf villas, and townhomes. Residents of these homes in Indianapolis have access to different levels of access to amenities including a 70,000 square foot clubhouse with family dining, banquet facilities, a fitness center, indoor and outdoor swimming pools, tennis courts, a 9-hole executive golf course, a 23 acre practice range, and an 18-hole Pete Dye golf course run by 3 PGA professionals. There are sixteen separate communities being developed by twelve prestigious home builders. One of these Indianapolis home builders is Richard Carriger Custom Homes. Carriger is currently also building in the Carmel neighborhoods of Windson Grove and Camden Walk. Dick Carriger has been building homes in Indianapolis in the neighborhoods of Carmel, Indiana for three decades, and the homes that he builds are lovely. Dick has an interactive process of home building that involves finding out what the buyer needs and wants, staying in touch and interacting with the buyer, and making suggestions as needed.
Inglenook. Inglenook is a modest size development in southern Carmel, IN that harkens back to quieter times and neighborly living. These Indiana homes are well constructed, attractive cottages. Attention is being paid to areas that would make John Muir happy. The site design has underground storm water system and rain gardens, 33% of the site is green “common area”, permeable concrete pavers at street parking and common drive areas, no retention ponds, 9 foot high concrete basement walls, and 6” thick exterior cottage walls. This community of new homes in Indianapolis for sale was designed by Ross Chapin Architects with an emphasis on community-building, environmental stewardship, and the use of smaller “sensibly-sized custom homes. Cottage home, stewardship, village living, and very cute are all terms that come to mind when one visits this new Carmel neighborhood of homes.
Precedent. Most neighborhoods of homes in Indianapolis are built by one home builder. Precedent has four custom home communities in Fishers and Noblesville where the homes are custom built by a group of different homes builders. There are thirteen of these new home builders to choose from. Amenities which vary by community include a pool, clubhouse, 7 acre lake, and a playground. One of the premier builders at the Precedent’s communities, Executive Homes, also builds in Fishers and at Bridgewater. Executive Homes come with a 10-year Quality Builder’s Warranty through Liberty Mutual Insurance.
Sagamore. Sagamore is a neighborhood of homes in Indianapolis were built in an area of rolling hills in Noblesville, IN. Sagamore offers golf course homes built around a Jack Nicklaus signature 18 hole course which was listed by Golf Digest as one of the top ten new private courses in America in 2004. The luxury homes in Indianapolis that surround the golf course are built by a group of eighteen custom home builders. Amenities include a practice range, club house, family activity center with child care, swimming pools, tennis courts, and a fitness facility. Indianapolis homes by Rex Brown are offered at Sagamore. Rex Brown has built over 200 custom homes and handled over 900 remodeling projects in the last twenty years on Indianapolis’s northside. These homes in Indianapolis are priced from $400,000 to $2 million. Rex’s homes are also being built in Zionsville, The Village of West Clay, in Carmel, and in Fishers.
Hamilton Proper. Hamilton Proper is an 850-acre master-planned golf community near Geist Reservoir that integrates custom homes, hiking and jogging trails, preserved natural areas, and an 18-hole championship Arthur Hills golf course, the 279 –acre Hawthorns Golf & Country Club. . The club house has exercise, meeting and banquet facilities. Hamilton Proper’s wildlife habitats and natural vistas include more than 100 acres of preserved wetlands
Hoss Builders is a builder of large and exotic Indiana homes in Hamilton Proper, as well as in Sagamore, Fortville, and in Westfield’s upscale development built on former horse farm, Viking Meadows. Steve Hoss’s Indiana homes break the “ordinary” mold with unique, breathtaking, and very tasteful treatments.
Rentals and Property Management
For downtown Indianapolis homeowners who want to rent their home without the hassle of finding and pre-qualifying a renter, and who want to avoid dealing with rent collection, repairs, and tenant problems; Matlin Property Management will handle property management realty for you. Our property specialist will also handle realty property management for homeowners who want to sell their homes in Indianapolis, but would prefer to wait to sell it when the real estate market improves to the point where they can get what they need from selling the property. Good rental management will improve your Indianapolis property’s occupancy percentage and reduce your stress level.
Building Custom Homes in Indianapolis
Estate lots in rural Hendricks County, Indiana, are ideal for building a custom home. Lot sizes range from 3, 5, 8, to 14 acres. Some lots have a stream or a site for a pond, other land sale acreage is wooded or tree-lined. We are currently selling beautiful Danville real estate that is in rolling land with beautiful views of either sunsets or views of the downtown Indianapolis skyline. Current platted lots are available in Danville, but previous sold lots have been in Clayton, IN.
Selling Homes in Indianapolis
Matlin REALTORS work to sell your house and to sell it quickly. This process involves having the listing agent work to make the home as marketable as possible. This could include the agent recommending painting, paint colors, helping with staging, and coming up with a list of needed repairs and changes to the home.
Additional assistance that we can provide to the home Seller include…
- Providing comparable information about the prices for which other homes in Indianapolis have sold and analyzing data for you to gain a true comparison
- Supplying information regarding local customs and regulations you may want to consider
- Sharing information about your home through the Brokers Listing Cooperative and on the Internet
- “Qualifying” potential buyers to make sure they would be financially able to buy your property
- Negotiating the sales contract
- Alerting you to potential risks
- Complying with the disclosures required by law
- Providing you with an estimate of the closing costs you will incur
- Helping you prepare for a smooth closing of the transaction.
Buying Homes in Indianapolis
A good reason to utilize a Matlin real estate agent to find homes in Indianapolis is that Matlin REALTORS are interested in finding you the house that meets your needs and budget (as opposed to selling you a house). As an example, one of our Indianapolis real estate agents talked a medical intern out of buying a home to re-model (during the real estate bubble) because he wouldn’t have time to work on the home. Your Matlin agent should help with your on-line computer home search, make suggestions of alternatives, and when you decide on a home, the agent should do a comparative market analysis to help in negotiating the purchase price. For these services, the Seller or new home builder usually pays the Buyer agent’s real estate commission. Several reasons to utilize the services of a Matlin real estate agent to help with the purchase of homes in Indianapolis is the agent’s familiarity with your needs, assistance in preparing and evaluating the seven-page purchase agreement, and their willingness to spend time answering your questions and helping you find your dream home .
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