Metro Indianapolis Real Estate

Just Listed! 13516 Lablanca Bend

2012-01-26T11:23:00.002-05:00

This beautiful 5 bedroom home is now on the market for $300,000! Stop by the open house this Sunday, from 3-5 or schedule an appointment to see it. You can see it on www.MacGillTeam.com or www.talktotucker.com. MLS number is 21157947

Fed Outlook on the Economy

2012-01-26T11:11:00.004-05:00

Here is an article from the New York Times with a somewhat pessimistic view of the economy, hence the picture of the recovery room. On the flip side, we are still seeing very strong activity in Indianapolis real estate.

WASHINGTON — The Federal Reserve, declaring that the economy would need help for years to come, said Wednesday it would extend by 18 months the period that it plans to hold down interest rates in an effort to spur growth.

The Fed said that it now planned to keep short-term interest rates near zero until late 2014, continuing the transformation of a policy that began as shock therapy in the winter of 2008 into a six-year campaign to increase spending by rewarding borrowers and punishing savers.

The economy expanded “moderately” in recent weeks, the Fed said in a statement released after a two-day meeting of its policy-making committee, but jobs were still scarce, the housing sector remained deeply depressed and Europe’s flirtation with crisis could undermine the nascent domestic recovery.

The Fed forecast growth of up to 2.7 percent this year, up to 3.2 percent next year and up to 4 percent in 2014, but at the end of that period, the central bank projected that the recovery would still be incomplete. Workers would still be looking for jobs, and businesses would still be looking for customers.

“What did we learn today? Things are bad, and they’re not improving at the rate that they want them to improve,” said Kevin Logan, chief United States economist at HSBC. “That’s what they concluded — ‘We’ve eased policy a lot, but we haven’t eased it enough.’ ”

The economic impact of the low-interest rate extension, however, is likely to be modest. Many businesses and consumers can’t qualify for loans, a problem the Fed’s efforts do not address. Moreover, long-term rates already are at record low levels and, like pushing on a spring, the going gets harder as it nears the floor. Finally, the Fed already was widely expected by investors to hold rates near zero well into 2014, limiting the benefits of a formal announcement.

“I wouldn’t overstate the Fed’s ability to massively change expectations through its statements,” the Fed’s chairman, Ben S. Bernanke, said at a press conference Wednesday after the announcement. “It’s important for us to say what we think and it’s important for us to provide the right amount of stimulus to help the economy recover from its currently underutilized condition.”

The Fed’s plans for interest rates were unveiled amid a barrage of statements the central bank released Wednesday as part of its campaign to improve its transparency. And while it pleased some investors in the markets, it left others befuddled. The Dow Jones industrial average, which had been down in the morning, began rising steadily after the Fed released its statement at about 12:30 p.m. Wednesday. The Dow finished the day up 81.21 points at 12,756.96.

First came the Fed’s traditional statement, released after each meeting of its policy-making committee, which said that the central bank intended to hold short-term rates near zero “at least through late 2014.”

Ninety minutes later, the Fed published for the first time the predictions of the committee’s members on when they would raise interest rates. It showed that 11 of the 17 members expected the Fed to raise rates by the end of 2014. Taken together, the documents suggested that the Fed expected to keep rates near zero until late 2014, but probably not any longer than that.

Since the beginning of the financial crisis in 2007, the Fed has alternated bursts of activity with periods of rest, concluding several times that it had done enough only to find the economy still struggling to recover. The Fed announced last summer that the central bank intended to keep interest rates near zero through at least the middle of 2013, and that it would seek to reduce long-term interest rates through changes in the kinds of investment securities it holds. Since then, two meetings had passed without the introduction of any new programs.

Foreclosures Represent Almost 1/4 of Real Estate Sales

2012-01-23T16:48:00.003-05:00

A look at year-end foreclosure data reveals a total increase for 2011 of 21.2 percent although the fourth quarter experienced a significant decline of 43.2 percent. Foreclosure inventory levels are roughly back to 2004 levels. Foreclosures captured a 22.5 percent market share in the fourth quarter and comprised 18.1 percent of all listings. Median sales price of foreclosures rose 2.3 percent compared to an almost flat performance by traditional sales. Most prominent in the $75,000 and below range, foreclosures made up 18.2 percent of all actives in that price point.

New Houses Coming on the Market this Week

2012-01-23T16:18:00.003-05:00

We plan to have a number of new listings on the market this week: Meridian Kessler, West Carmel, Noblesville, and some possibilities in Arden, Meridian Kessler and Carmel.

1st Closing of 2012 was Today

2012-01-19T16:55:00.002-05:00

A delightful new client closed on a beautiful 2 bedroom condo (pictured) in Washington Township this afternoon. We are seeing a lot of activity in real estate for this particular time of year. We are also talking to a lot of prospective sellers about listing their homes for sale. Things look positive for Indianapolis real estate.

MacGillTeam.com will be all new in about a week!

2012-01-14T15:41:00.003-05:00

We have been working with a web designer for the past month or so to revise our site. Look for it to be online in a week or so. There will be a lot of new material on the site!

Now is the Time to Buy Real Estate!

2012-01-11T15:17:00.003-05:00

Check out these amazing interest rates! These rates do assume a high credit score

Rates as of January 11, 2012
Conventional loan programs – $75,000 to $417,000

30 yr Fixed 3.875 + 0 pts 5/1 Libor ARM 3.00 + 0

15 yr Fixed 3.25 + 0 7/1 Libor ARM 3.50 + 0

FHA loan programs to $271,050- 96.5% LTV

30 yr Fixed 3.875 + 0 pts

The One Thing that is Certain about Real Estate

2012-01-09T10:09:00.002-05:00

“A seller can not sell high
and buy low at the same time.”

The Weather outside is Frightful, But I'm Showing Homes Tomorrow!

2012-01-02T14:33:00.003-05:00

In my last post, I mentioned our optimism about Indy real estate. In line with this optimism, I am taking some new clients out tomorrow and my wife Kate has out of town buyers this coming weekend. The weather may be cold, but there are strongly motivated real estate buyers out there!

Looking into the Future of Indianapolis Real Estate

2011-12-30T12:19:00.003-05:00

We are very optimistic about real estate in Indianapolis for 2012. There is considerable pent up demand for houses on the part of buyers and interest rates remain very low. With inventory of existing homes being very low, there could be a shift in the market from a buyers market to more of a neutral market, or perhaps even a sellers market.

Happy New Year from the MacGill Team

2011-12-30T12:11:00.002-05:00

Holiday Decorating Contest 2011

2011-12-19T15:29:00.003-05:00

Please send an e mail with a picture if you think you have a better photo for holiday decorating than this. So far, this is the best one. Winner receives a $25 Starbucks gift card.

Real Estate in 2012

2011-12-09T13:27:00.002-05:00

The following article was sent to us by one of our mortgage lenders. It offers a rather pessimistic view on housing. Indianapolis real estate has not been as prone to large fluctuations in price, as other parts of the country have.

House Prices: Where They Will Be in the Spring
Disclaimer: This blog covers the national housing market as a whole. It is also one person’s opinion. Food for thought.
Many sellers want to wait until the spring before putting their home on the market. This might be for any of several reasons:
They don’t want to be inconvenienced during the holiday season.
They believe that they will see more potential buyers and as a result will get a higher price.
In the northern part of the country, they might not want people walking through the snow and then into their house.
All of the above
In a normal real estate market, this may make sense. However, this market has been anything but normal. This spring will also see some abnormalities. The biggest difference will be the direction prices will take.
In years past, the spring market would favor the seller because increased demand would outpace any increase in supply: the number of houses coming onto the market would not be as great as the number of buyers newly entering the market. In most situations, when demand is greater than supply, prices increase.
The reason this spring will be different is that the supply of homes coming to the market will be dramatically impacted by foreclosure properties being released by the banks. Many believe this increase in inventory will far outweigh buyer demand. In situations where supply is greater than demand, prices decrease.
Will This Actually Happen?
RealtyTrac, in their latest foreclosure report, explained:
“U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork. While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.
This will impact prices.
What Do Experts Believe the Impact Will Be?
Here are the pricing projections by several major entities:
Zillow believes we will not see a bottom in prices until the first quarter of 2012.
Standard & Poors thinks prices will drop %5 in the next few months.
JP Morgan Chase believes prices will depreciate 6 to 7% over the next six months.
Barclays says prices will fall 7% by the end of the first quarter of 2012.

Flood Insurance for Homeowners is Up in the Air Again!

2011-12-08T15:00:00.002-05:00

Senate Passes Another Short-Term NFIP Extension as Deadline Nears
BY ARTHUR D. POSTAL, PROPERTYCASUALTY360.COM
December 8, 2011
23
NU Online News Service, Dec. 8, 10:54 a.m. EST

The Senate last night unanimously passed legislation extending the National Flood Insurance Program until May 31, 2012.

The bill was sponsored by Sen. David Vitter, R-La. According to officials at National Flood Services, Sen. John Tester, D-Montana, also played a key role in the extension.

The bill must still pass the House, which, according to RJ. Lehmann, deputy director of the Heartland Institute’s Washington unit, only wants to extend the program until March 31.

Unless extended by both the Senate and the House, the NFIP will expire Dec. 16, when its latest temporary reauthorization runs out.

“Given that the September before a presidential election is a particularly bad time for taking up floor legislation, an earlier expiration could actually aid the goal of getting a vote on a long-term reform bill sometime this coming spring,” Lehmann says.

Senate action on a long-term reauthorization that would extend the program until Sept. 30, 2016 is being held up because both Democrats and Republicans want to use the bill as a vehicle to get unrelated issues through a gridlocked Congress. Lehmann sees it as unlikely the Senate will act on the bill.

“Our priority is preventing another NFIP lapse,” says Tom Litjen vice president of federal government relations for the Property Casualty Insurers Association of America. “More than 5.6 million home and business owners across the country rely on flood insurance, in every state. This is not just a coastal concern.”

Tom Santos, vice president for federal affairs at the American Insurance Association, says, “The six month extension...should allow Congress enough time to consider and pass a long-term extension with meaningful reforms that aim to strengthen the program. Necessary reforms include movement toward risk-based premiums and reduced price subsidies.”

Matt Gannon, assistant vice president of federal affairs for the National Association of Mutual Insurance Companies, says the extension “removes some short-term uncertainty from the NFIP but does nothing to enact the necessary reforms to the program.”

Gannon adds that flood-insurance reform is one of the very few bipartisan bill this Congress can actually pass so we continue to urge a Senate vote on the bill as soon as possible."

John Prible, vice president of federal government affairs for the Independent Insurance Agents and Brokers of America, says. “Provided the House also passes this needed extension, it is imperative that the Senate leadership then work to bring the long-term reform and extension bill to the full Senate floor for consideration to allow the House and Senate to reconcile their two bills.”

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Testimonial Page on our Website

2011-12-08T10:18:00.004-05:00

I just received this recommendation from a past client who posted this on Linked In. I am very flattered and pleased to share this from Scott!

Dear Michael,
I've written this recommendation of your work to share with other LinkedIn users.

Details of the Recommendation: "When looking for a realtor one looks for attributes such as market knowledge, creativeness, professionalism, being punctual, and having integrity. From my experience with Mike MacGill and the MacGill Real Estate team I have received a servicing level above and beyond expectations. I continue to receive excellent services from the MacGill team even many years after using their realtor services to sell and purchase our home. I would recommend no one else to provide realtor services. The MacGill Real Estate Team is associated with the F. C. Tucker Company and have 27 years of combined experience and have sold in excess of $165 Million in career sales. Please refer to their website: www.MacGillTeam.com for a complete list of services."
Service Category: Real Estate Agent
Year first hired: 2006
Top Qualities: Great Results, Expert, High Integrity

New Listings Coming on the Market!

2011-12-01T16:26:00.001-05:00

We hope to have some exciting new listings on the market in the next week-one in Meridian Hills (Washington Township) and one in West Carmel (Clay Township).

Just Listed! 1075 Arlington Court

2011-11-29T10:30:00.002-05:00

Immaculate 4BR in Lexington Farms boasts brand new exterior siding & a 1 year old roof! The home is situated on quiet cul de sac & pond, has full rear fence, large room sizes, cherry flooring, open floor plan & 1 block to the Monon Trail & Monon Center! Downstairs features liv rm, DR, brkfst rm & lge fam rm w/cozy frplc. Sliders lead to patio w/pond views. Upstairs has 4 spacious BRs incl large mstr ste & 2 baths. This community offers pool, park, tennis, trash, recycling & snow removal. Hurry!

4 Open Houses this Sunday November 20

2011-11-17T14:58:00.004-05:00

8577 One West Drive Unit 102 12-2
7702 Waterwood Drive 3-5 pm
4365 Braemar Drive 12-2 pm

New MacGill Team Picture

2011-11-14T16:42:00.004-05:00

Left to right, Larry Hamlet, Client Care Coordinator, Kate MacGill, Michael MacGill, Victoria Dougherty, Buyers Agent. Our Team has expanded to help our clients with their real estate needs and we think you will be pleasantly surprised with the results. Please call our office at 317 580-7853, our cell phones our e mail us if we can help in any way!

Look for an Update MacGillTeam.com Website

2011-11-03T11:54:00.001-04:00

We are working with a great web designer to add some new touches to the website. Keep checking in to see the reorganization and general updating.

MacGill Team Named to IBJ's All Star Agent list

2011-09-12T15:47:00.004-04:00

We were pleased to once again be named to the Indianapolis Business Journal list of All Star Agents. We have been on this list since 2004. This year we were ranked #37 and we have included a congratulatory letter from Jim Litten the President of the Tucker Company. Thanks to the many clients we have had the privilege to serve and for entrusting their real estate needs to us.

7702 Waterway is on the Market in Indy for $92,500

2011-09-08T14:19:00.005-04:00

Immaculate 2 bedroom in convenient west side location has huge great room, fireplace, cathedral ceilings, all appliances stay and large fenced back yard!

Real Estate Short Sales in Indianapolis

2011-09-08T14:11:00.004-04:00

Kate and I decided to attend a seminar which focused on helping buyers navigate their way through the short sale process. In previous blog entries, I have indicated that short sales can take months to close and can be very trying. The reason we felt this was important was that 45% of all real estate sales are for distressed properties. Call us if you would like more information!

A Hopeful Message from a Surprising Source

2011-09-03T11:49:00.004-04:00

Dear Friends,
As many of you may know, neither Kate nor I are even close to being "political animals". In addition, we are never interested in proselytizing political views or opinions, but I have to say that I was intrigued by this message from Howard Schultz, the Chairman of Starbucks. His message resonated with me and I am therefore posting it on the blog. Please share it with your friends if you are in agreement with these views. I think it is a heartfelt message from a man who loves his country and wishes for the American dream to continue.

September 2011

Dear Starbucks Friend and Fellow Citizen:

I love our country. And I am a beneficiary of the promise of America. But today, I am very concerned that at times I do not recognize the America that I love.

Like so many of you, I am deeply disappointed by the pervasive failure of leadership in Washington. And also like you, I am frustrated by our political leaders' steadfast refusal to recognize that, for every day they perpetuate partisan conflict and put ideology over country, America and Americans suffer from the combined effects of paralysis and uncertainty. Americans can't find jobs. Small businesses can't get credit. And the fracturing of consumer confidence continues.

We are better than this.

Three weeks ago, I asked fellow business leaders to join me in urging the President and the Congress to put an end to partisan gridlock and, in its place, to set in motion an upward spiral of confidence. More than 100 business leaders representing American companies - large and small - joined me in signing a two-part pledge:

First, to withhold political campaign contributions until a transparent, comprehensive, bipartisan debt-and-deficit package is reached that honestly, and fairly, sets America on a path to long-term financial health and security. Second, to do all we can to break the cycle of economic uncertainty that grips our country by committing to accelerate investment in jobs and hiring.

In the weeks since then, I have been overwhelmed by the heartfelt stories of Americans from across the country, sharing their anguish over losing hope in the strongest and most galvanizing force of all - the American Dream. Some feel they have no voice. Others feel they no longer matter. And many feel they have been left behind.

We cannot let this stand.

Please join other concerned Americans and me on a national call-in conversation on Tuesday September 6th hosted by "No Labels," a nonpartisan organization dedicated to fostering cooperative and more effective government. To learn more about the forum and the pledges, visit www.upwardspiral2011.org

America is at a fragile and critical moment in its history. We must restore hope in the American Dream. We must celebrate all that America stands for around the world. And while our Founding Fathers recognized the constructive value of political debate, we must send the message to today's elected officials in a civil, respectful voice they hear and understand, that the time to put citizenship ahead of partisanship is now.

Yours is the voice that can help ignite the contagious upward spiral of confidence that our country desperately needs.

With great respect,

chief executive officer, Starbucks Coffee Company

Just Listed! 6050 Woodmill

2011-09-02T15:24:00.003-04:00

Beautiful 3 bedroom ranch in Fishers for $153,900! Great room with cathedral ceilings, eat in kitchen, large master suite, private and fenced back yard--this is a great home in a great location!

Just Reduced to $219,900! 1092 W. 56th Street

2011-08-25T15:24:00.002-04:00

Great new price on this fabulous midcentury modern 3 bedroom across from Highland Country Club. The home will be open this Sunday, August 28, from 3-5.

Interest Rates Continue to be HISTORICALLY LOW!

2011-08-13T16:56:00.002-04:00

Mortgage interest rates are approaching historic lows with 30 year loans under 4.5% for high FICO score applicants. Couple these rates with a strong buyers market and it looks like a great time to buy real estate in Indianapolis.

Real Estate is Starting to Recover after the Heat Wave

2011-08-13T16:53:00.003-04:00

Showings on our listings in Washington Township have started to pick up with the easing of temperatures in the last few days. In particular, we have noticed this trend in Meridian Kessler, Broad Ripple, Butler Tarkington and other parts of the township. Look for things to get even better after Labor Day after school starts.

6145 Rosslyn, Open Today from 3-5 pm!

2011-07-31T15:43:00.000-04:00

Stop by this beautifully redone 3 bedroom/1.5 bath home with a huge family room, formal living and dining room, updated kitchen and bath, and great rec room in the basement. Situated on a double lot, this home has a lot going for it and is priced well at $229,900!

QR Decals on our For Sale Signs

2011-07-20T09:59:00.004-04:00

In a nod to the continuing push for more technology, we are placing QR decals on our signs. These QR codes will direct smart phone users to our website to view details about our properties which are for sale. Access to brochures and pictures will also be available through this new feature.

Surf www.MacGillTeam.com with your Mobile phone

2011-07-20T09:51:00.001-04:00

You can now surf our Indianapolis real estate website with your smart phone. Check out www.MacGillTeam.com today.

Real Estate Activity is Picking Up!

2011-07-14T16:27:00.003-04:00

Gas prices had an impact on real estate in June and we noticed a definite slow down. While June is traditionally a month for family vacations, we saw activity slow last month. We are now noticing a small uptick in activity in July with new buyers looking and a number of sellers looking to put their homes on the market.

Just Listed! 8919 Spicewood Court

2011-07-14T16:21:00.002-04:00

This immaculate, and beautifully maintained 5 bedroom is now on the market. Situated on a .42 acre lot with a park like setting, this home offers over 2700 square feet on the main and upper levels and a partial basement. Priced at $259,900 and in a prime Washington Township location, this house won't be available for long!

Just Listed! 5314 Sunset Avenue in Butler Tarkington

2011-07-11T16:25:00.005-04:00

Charming bungalow in Rocky Ripple is a stone's throw from Butler University & steps from the Central Canal Tow path. $119,900. The home will be held open this Sunday from 12-2.

5920 W. 30th Street Open 6/26 from 3-5

2011-06-24T11:37:00.002-04:00

This wonderful home in a prime Speedway location will be open this Sunday.

Sold! Closing Today at 2pm: 44 E. 46th Street

2011-06-24T11:31:00.000-04:00

Open 3-5 6/26 from 3-5, 6255 Sherman Drive

2011-06-24T11:26:00.003-04:00

A rare opportunity to see a fabulous 6 bedroom home on a 1 acre lot with creek. Amazing updates with over 4200 square feet! Listed at $599,900!

Open Sunday 6/26, 5932 N. New Jersey 12-2

2011-06-24T11:21:00.002-04:00

Come visit this fabulous 4 BD home on quiet side street. Newer kitchen, finished basement, large back yard with great patio, screened porch...$334,900!

1848 Misty Lake Open 6/26 12-2

2011-06-24T11:17:00.003-04:00

Please check out this great 2/BD 2.5 BA home this Sunday. Great woods view, rear wood deck, cathedral ceilings, fresh paint throughout, brand new carpet--all this for $119,900!

5501 N. Pennsylvania is Sold

2011-06-14T10:40:00.002-04:00

Open 5/22 From 3-5, 5501 N. Pennsylvania

2011-05-21T18:25:00.004-04:00

This beautifully updated home is now listed at $449,900 and Sirva Relocation is offering a $10,000 bonus to the buyer with an accepted offer. Please come by tomorrow to see!

Washington Township Real Estate

2011-05-21T18:14:00.002-04:00

If the date of my last blog post is an indication of what is going on with Washington Township real estate, then things are going well. I have literally been too busy to post on either Metro Indianapolis Real Estate or our Twitter feed @MacGillTeam. That is not to say that everything is selling right away but on the whole, real estate in Washington Township, Indianapolis and more specifically in Meridian Kessler, Broad Ripple and Butler Tarkington, is very healthy. There are many buyers searching for the perfect home in these areas. Keep posted to our blog and Twitter feed--we have some great new listings coming on the market soon.

Just Listed 5360 N. Pennsylvania-$579,900

2011-04-11T15:49:00.002-04:00

Wonderful 4 bedroom home in the heart of Meridian Kessler! Gorgeous updates throughout this 3000 + sq. ft. home with an amazing kitchen, main floor living and dining room, breakfast room, and den/office. 4th Bedroom over garage has full bath and could be studio, mother in law suite--just imagine the possibilities. Master suite has to die for bath/spa area with every amenity.

Just Listed! 1543 Old Mill Circle

2011-04-07T14:41:00.004-04:00

Don't delay seeing this house because it won't last long! Fabulous updates abound in this gorgeous 4 bedroom in Springmill Ponds. Updated kitchen w/center island, premium appliances, granite & walk in pantry! Other main level features: LR & DR, Fam. rm, Laundry rm & mud rm w/slate flrs & blt in lockers, screened porch w/views of below ground pool! Master suite boasts tray ceiling, huge mstr bath w/whirlpool, water closet, dbl sinks, skylights & full shower, PLUS 669 SQ. FT of finished attic adjacent to master. 100% finished basement has huge great room, gorgeous 15 X 14 wet bar area and large exercise room. Neighborhood offers tennis, clubhouse, pool, and park/play area! Hurry!

Sold this Weekend! 5946 N. New Jersey

2011-03-28T15:19:00.003-04:00

Just Listed! 6319 Glen Coe

2011-03-28T15:08:00.004-04:00

This gorgeous 5 bedroom, 6+ bath ranch was remodeled recently to double the size of the main level and approximately 1000 sq. ft of basement was also added to the home. Premium upgrades everywhere, open floor plan-perfect for entertaining in and out, below ground pool, luxurious master suite w/huge walk in closet and beautiful spa bath and glass block walk in shower, gourmet kitchen with 2 of every appliance, great room and family rooms with built in--all this and on a .74 acre lot. Listed at $675,000.

Sold in 7 Days! 1092 W. 56th Street

2011-03-25T16:00:00.002-04:00

The open house last Sunday at this house was like Grand Central Station. Over 50 groups of people came through the house from 3-5 on Sunday and the eventual buyers came through that afternoon and wrote the offer first thing Monday the 21st.

Just Listed! 5932 N. New Jersey

2011-03-23T10:07:00.002-04:00

This beautiful 4 bedroom, 3 full bath home has just been listed for $349,900. It features an updated kitchen with new cabinets, tile floor and granite countertops, finished basement, nice back yard and many other updates. Make plans to see it at the open house this Sunday from 3-5 on March 27th.

MacGill Team Open Houses this Sunday

2011-03-18T11:58:00.003-04:00

12-2 pm:

44 West 46th Street: 3 BD/2.5 BA in Meridian Kessler, New Price @ $299,900

3-5 pm:

1092 West 56th Street: 3 BD/2.5 BA, totally remodeled, $249,900
5501 Pennsylvania: 4 BD/2.5 BA, in Meridian Kessler, New Price @ $499,900

1-4 pm

5946 New Jersey, 4 BD, 2.5 BA in Meridian Kessler, $319,900

Just Listed! 120 3rd Street NW

2011-03-16T16:45:00.004-04:00

This beautiful 3 bedroom home in Carmel is listed for an amazing $134,900!

Just Listed! 1092 W. 56th Street

2011-03-14T16:29:00.003-04:00

Stunning Mid Century, 3BD, 2.5BA ranch has undergone a complete remodel with new EVERYTHING--roof, gutters, windows, carpet, paint, kitchen, bath--you name it. Dramatic living room features a sloping cathedral ceiling, large picture window facing Highland Country Club & beautiful stone hearth. Also- gorgeous master suite w/alcove, dbl closets and dbl built in dressers, baths w/granite & new fixtures, huge fam. rm, den w/ built ins, walk in pantry, 2 car att. gar. w/storage & .66 acre lot!

What Happens to People's Credit after ...

2011-03-09T16:55:00.003-05:00

Chapter 7 or 11 Bankruptcy: no loans available 4 years after discharge
Chapter 13 Bankruptcy: No loans for 2 years/4 years from dismissal
Multiple Bankruptcies: No loans for 5 years if more than 1 filing in past 7 years
Foreclosure: 7 years calculated from sheriff's deed
Short Sale: 2 years if the loan to value (LTV) is 80%
4 years if the LTV is 90%
7 years if the LTV is greater than 90%

These are the credit underwriting guideline for Fannie Mae. The waiting period for FHA is not as strict but there are definite penalties.

17 Showings Scheduled in Less than a Week!

2011-03-08T11:17:00.003-05:00

This beautiful 4 bedroom home, located at 5946 N. New Jersey, was listed last week and is attracting a lot of showing requests. This definitely indicates strong interest from buyers in Meridian Kessler. We are seeing the same type of activity in Broad Ripple, Butler Tarkington, and in general Washinton Township.

Pricing Your Home

2011-03-06T16:34:00.002-05:00

Once you have made the decision to sell your home, the most important thing you can do is to listen to what your Realtor says about pricing your home. Pricing is a harsh reality and has nothing to do with the following items: 1) We are not in a hurry to sell our home 2) The house down the street sold for... 3)But we paid $X for it when we bought it 4) The buyer can just make an offer and we will try to work things out. The truth about all these scenarios is this: If you don't price your home properly, it won't sell.

Unemployment Rate Falls, Good News for Real Estate

2011-03-04T10:27:00.003-05:00

Here is another interesting article from dsnews.com. This is great news for the economy and especially for real estate!

The national unemployment rate fell to 8.9 percent in February, as employers added 192,000 jobs to their payrolls, according to figures released Friday by the U.S. Department of Labor. The rate is down from 9.0 percent in January and 9.4 percent as recently as December.

The Labor Department described the latest numbers as “little changed,” noting that the number of unemployed persons – 13.7 million – was reported as virtually the same as in the previous month. Of these, 43.9 percent had been jobless for 27 weeks or more, essentially the same as in the month prior.
In February, the labor force participation rate was unchanged at 64.2 percent, although January’s figures were revised upward to reflect a net gain of 63,000 jobs instead of the 36,000 initially reported. December’s job growth was also adjusted upward, from 121,000 net jobs to 152,000.
“Most measures from the survey of households showed little movement in February,” said Keith Hall, commissioner of the Bureau of Labor Statistics.
However, the 192,000 jobs that were added in February represented the largest monthly net gain since mid-2010 when the numbers included temporary Census hiring, signaling that the economy is showing signs of strengthening.
Hall says from its recent low point in February of last year, payroll employment has increased by 1.3 million. But as Catherine Rampell with the New York Times points out, since the downturn began in December 2007, the economy has shed, on net, 7.5 million jobs.
If the United States adds 200,000 jobs a month from here on out, Rampell explained, it will take more than three years for the economy to return to pre-recession employment levels.
February’s job growth came close to analysts’ expectations. The consensus among economists polled by Bloomberg was that the report would show 196,000 new jobs last month.
“The 192,000 increase in US non-farm payrolls in February is healthy enough, particularly when we take into account the upward revisions to the preceding two months,” said Paul Ashworth, chief U.S. economist for the international research firm Capital Economics.
“Over the next few months, we expect monthly payroll gains to accelerate a little from the current underlying pace of about 135,000 a month, moving into the 150,000 to 200,000 range. However, we expect the unemployment rate to decline only gradually from here,” Ashworth said.
Without question, unemployment levels are now closely tied to the mortgage industry’s level of delinquencies. To address this indisputable link, Congress established the Emergency Mortgage Relief Fund when it enacted the Dodd-Frank Reform Act last summer.
The program provides homeowners who’ve lost their jobs with a declining balance, deferred payment “bridge loan” of up to $50,000 to cover past due mortgage expenses, plus up to 24 months of monthly mortgage payments while the borrower searches for new employment.
The House Financial Services Committee voted Thursday to terminate the emergency program, citing it as one of four federal foreclosure mitigation programs that “aren’t working.” The bill to end the program now moves to the full House for consideration. If passed by House lawmakers, it would also need to clear the Senate.

Treasury Secretary Admits Gov't Housing Mistakes

2011-03-02T10:12:00.004-05:00

Here is an interesting excerpt from a real estate site, DSNEWS.COM

In a speech given Tuesday before the House Committee on Financial Services, Treasury Secretary Timothy Geithner said the government played a role in bringing down the housing market.
Geithner also blamed the government for creating moral hazard and leaving taxpayers responsible for cleaning up the mess.

He said the government made mistakes that were avoidable.
“We allowed an enormous amount of the mortgage market to shift to where there was little regulation and oversight,” Geithner said.
He continued, “We allowed underwriting standards to erode and left consumers vulnerable to predatory practices. We allowed the market to increasingly rely on a securitization chain that lacked transparency and accountability. And we allowed the financial system as a whole to take on too much risk and leverage.”
The proposed government reform released two weeks ago outlined methods to reduce government participation in the housing market, and proposed to wind down Fannie and Freddie completely.
“Our proposal for reform breaks sharply from the past to fundamentally transform the role of government in the housing market,” Geithner said.
And while winding down the GSEs is an important element of the administration’s plan to reform housing, it is not the only element.
“These steps alone will not give rise to a housing finance market that meets the needs of families and communities, nor will it guarantee that private markets can effectively play a predominant role,” he said. “We must also pursue reforms that restore confidence in the mortgage market among borrowers, lenders, and investors.”
This fundamental change is based on a shift of what many believe is the “American Dream.” According to Geithner, “our goal is not for every American to become a homeowner.”

Improving Weather Improves Real Estate

2011-03-01T15:54:00.002-05:00

All this wonderful sunshine we are experiencing, along with the warmer temperatures is making buyers think it is a good time to look at houses. We had busy open houses over the weekend and several offers are in negotiation right now. As I have mentioned many times, we are seeing pent up demand in Meridian Kessler, Butler Tarkington and Broad Ripple.

Foreclosed Property

2011-02-28T14:54:00.003-05:00

One of our buyers is interested in a foreclosure and has made an offer. Just after we finished up with a SHORT SALE, and I swore not to take another, we are now getting involved with another interesting situation. The big difference here is that the bank is much more realistic and DECISIVE in a foreclosure. (Fingers crossed here) The big difference between a foreclosure and a short sale is that the bank is the owner of the property in a foreclosure whereas the short sale owner is the property owner. More news on this interesting topic later.

5325 Delaware-Sold in 6 Days

2011-02-27T17:17:00.003-05:00

This beautifully updated 2 bedroom, 1.5 bath in the heart of Meridian Kessler had an offer yesterday which was accepted today. As a result, the open house scheduled for today was canceled. Pictured here is the living room of the home.

News About FHA Mortgages

2011-02-25T11:54:00.002-05:00

FYI--Here is some news about FHA Mortgages from a mortgage broker who was kind enough to pass on this info:

(FHA) is going to increase their PMI (private mortgage insurance) premium . This will take effect on April 18th. If you have potential buyers on the fence, this change will work as follows:……on a $150,000 loan size….the increase represents the following:

Current monthly PMI amount $112.50 mo
Upcoming monthly PMI amount $143.75 mo

So……monthly payment increase of $31.25.

Indianapolis Real Estate is Picking Up

2011-02-24T16:30:00.003-05:00

As I have mentioned several times in this blog, we are experiencing a strong amount of interest for the first time in about 4 years since the Great Recession started. Consumer confidence appears to be strong and there is pent up demand for real estate. We have had six listing appointments this week alone, one offer accepted and one offer written last night, one listing closed on Tuesday (THE SHORT SALE) and another listing closing tomorrow. Not bad for the last week of February and the middle of winter!

It Finally Closed!

2011-02-22T16:53:00.002-05:00

The property at 3920 Burningbush closed this afternoon after 8 months. I don't anticipate wanting to ever do another short sale again after the experience.

Short Sale Sage Part 5 or 6--Lost Track of the #

2011-02-22T14:06:00.004-05:00

That short sale I started back in July 0f 2010 was supposed to close last Friday. It has now been rescheduled for today at 3 pm. We still haven't received the final bank approval...Will it or will it not close today?

Changing Rules in Obtaining Mortgages/Credit Scores Count

2011-02-22T13:44:00.003-05:00

Here is some information from a blog we like to read from LeRoy Houser, an outstanding educator and realtor from Virginia.

"Credit Score = It’s becoming evident that an applicant with a good credit history and a high credit score will get a more favorable interest rate than a person who has had credit problems. This is a WIP that we all need to be concerned about. Here is an example offered by the Fair Isaac Cooperation (FICO) which is worthy of passing on to your customers and clients."

Consider a couple who is looking to buy their first house. Let's say they want a thirty year mortgage loan and their FICO credit scores are 720. They could qualify for a mortgage with a low 5.5 percent interest rate*. But, if their scores are 580, they probably would pay 8.5 percent interest or more--that's at least 3 full percentage points more in interest. On a $100,000 mortgage loan, that 3 point difference will cost them $2400.00 a year and $72,000 over the life of the loan. Your credit scores do matter.
*Interest rates are subject to change. Number used as an example

New Listing in Meridian Kessler-5325 Delaware

2011-02-19T12:40:00.004-05:00

This 2 bedroom, 1.5 bath home with basement has been totatlly redone with new kitchen and bath, fresh paint and new appliances and HVAC. List price is $229,900 and we plan to hold it open tomorrow afternoon. Check back with the blog for open house times tomorrow or our Twitter feed @MacGillTeam.

Update on Flood Insurance in Indianapolis

2011-02-18T11:40:00.005-05:00

Check the search function in this blog to check prior posts about flood insurance. There was an article today that work will begin probably in 2012 to complete Phase 3 of the flood control project for White River. The Indianapolis Star mentions that a levee of approximately 8000 linear feet will be built in the Butler Tarkington area. Once completed, this should mean that flood insurance will no longer be required for residents in flood plains in Meridian Kessler, Butler Tarkington, northern Washington Township, Broad Ripple and a few neighborhoods in the 46240 and 46260 zip codes. This will save residents of these neighborhoods about $140/month in flood insurance expense. It should also affect property values in these areas in a very positive way!

New Meridian Kessler Listings Coming on Market

2011-02-17T14:56:00.003-05:00

We expect to be listing several homes in Meridian Kessler in the next few weeks. On Saturday, we plan to list a beautifully, redone 2 bedroom 1.5 bath home with partially finished basement in the low to mid $200's. Look for the listing this weekend or contact us: 317 580-7853 or Mike@MacGillTeam.com or Kate@MacGillTeam.com

Two Houses Sold This Week!

2011-02-15T15:58:00.003-05:00

So far, two of our clients have purchased homes this week. This is in keeping with the comments I have posted in this blog, which is that real estate in Indianapolis is experiencing strong demand. Broad Ripple, Meridian Kessler and Butler Tarkington are very sought after locations right now.

Happy Valentine's Day!

2011-02-14T16:28:00.003-05:00

Happy Valentines Day to our friends, family and clients from the MacGill Team!

Good Riddance Ice and Snow!

2011-02-13T12:37:00.000-05:00

Indianapolis real estate will shift into high gear this week. We wrapped up inspection responses on our house in Butler Tarkington/Meridian Kessler and hope to do the same on another Washington Township listing. Kate is out again with buyers today-7 days in a row. We both need a day off, but there is strong demand everywhere in Indy. That includes downtown real estate which is also getting a lot busier.

Mortgage Rates Up Somewhat, But Still Affordable

2011-02-11T15:29:00.006-05:00

The following excerpt explains the rising trend in mortgage rates. From a historical standpoint, rates are truly very low even in the 5-5.5% range.

"For the first time since 2009, Fannie Mae and Freddie Mac are raising risk fees they charge lenders on loans they buy for resale to investors. The mortgage giants are also adding risk fees to more loans extended to people with stellar credit. To avoid a fee or to get a discount, most borrowers will need FICO scores of 740 or better and down payments of 25% or more. Lenders could absorb the cost, but most are expected to add it to loan costs within days, if they haven't already, says Cameron Findlay, Lending Tree economist. The increases affect most loans with longer than 15-year terms sent to Freddie starting March 1 and to Fannie on April 1.
For example, a buyer of a $200,000 house who has a 700 FICO credit score and 20% down payment will pay $1,600 for the Fannie risk fee vs. $1,200 before. If the borrower's score is 680, the fee will be $2,800. Borrowers can pay fees upfront, or lenders will price them into interest rates.
]
While not huge, the new fees are notable in that they're being added to more loans to borrowers with higher credit scores.
FICOs generally go from 300 to 850; the median is 711. With few exceptions, risk fees hadn't applied before to borrowers with FICO scores of 740 or above.
Now, they'll face the smallest fee, 0.25% of the loan amount, if they put down less than 25%. "For the first time, these fees apply to virtually everybody," says Keith Gumbinger of mortgage research firm HSH.com. For single-family home buyers and standard refinances, the fees will hit 88% of the borrower categories set by Fannie and Freddie, up from 70%, he says.

Freddie and Fannie announced the changes last year. They're "intended to more accurately reflect changing risks in the housing market," says Amy Bonitatibus of Fannie Mae. Before the change, loans to borrowers with 740-plus FICO scores paid risk fees on some loans, such as cash-out refinances, says Freddie Mac spokesman Brad German.
Freddie says the increases will have a "nominal effect" on affordability. A 0.25% fee would add less than $10 to the monthly payment on a 5%, 30-year fixed-rate loan for $200,000, it says.

Yet, higher fees will make it harder for some consumers to qualify, Findlay says. For those that do, the fees aren't likely to scare them off, given today's low interest rates, he adds."

www.MacGillTeam.com Will Be Getting a Facelift

2011-02-09T16:34:00.003-05:00

We plan to meet with our website developer on Friday to start discussing some possible changes to freshen our website. I think the content of this blog and our Twitter posts need to be more prominent on our website. We are also updating marketing content so keep posted for a lot of good changes!

Another Sunny Day in Indy

2011-02-08T14:15:00.005-05:00

Sunshine is a rare commodity in Indianapolis in the winter but it has been abundant yesterday and today. Hopefully, it will continue to melt the accumulation of snow and ice from last week. My wife, Kate MacGill, continues to show houses to out of town buyers. She has shown in Meridian Kessler, Broad Ripple, northern Washington Township, Noblesville and Carmel with 3 different sets of prospective buyers.

Statistics for the MacGill Team

2011-02-07T16:15:00.005-05:00

This week, the Tucker Company presents awards to its agents. Our team was 9th out of 700 agents, in written volume for 2010 and 11th in closed sales. We sold just under 12 million in 2010-a very challenging year. Our career sales are in excess of $150 million. While I know this sounds a little bit like bragging (which it is), the important point is that these numbers indicate experience, expertise in negotiation and judgement-the very qualities you should be seeking when you choose a real estate agent.

Post Super Bowl Benefits to Real Estate

2011-02-06T13:32:00.004-05:00

Real estate will start gettting a lot busier on Sundays now that football season is approaching an end. If you think about it, pro football starts the preseason in August so the football season actually lasts about 6 months. We have noticed this trend over the years and are looking forward to the semi-annual boost of no more football! Who Knew?

No Open House Tomorrow

2011-02-05T12:39:00.003-05:00

Our open house at 520 Woodmere has been cancelled due to weather. We anticipate holding it open in the next week or two as the weather clears. It is a wonderful 3 bedroom, 2.5 bath home with updated kitchen, Brazilian hardwoods, rear deck, nice master suite, large lot and great Washington Township location.

Check out our Twitter Posts

2011-02-05T12:31:00.006-05:00

We are posting things about every other day on Twitter and it usually involves commentary about the state of real estate in Indianapolis. It is hard to do that in under 140 character but we have no choice. Look for us on Twitter@MacGillTeam

Buyers are Back Out Looking

2011-02-04T14:53:00.002-05:00

The ice is still here but we are showing homes to out of town buyers and we are receiving showing requests on our listings. I guess people are getting used to having the ice.

Groundhog's Day

2011-02-02T11:18:00.004-05:00

It's Groundhog's Day and in spite of all the nasty weather we have had in Indianapolis in the last 36 hours, we had a little sunshine a few minutes ago and the skies are BLUE. Under those circumstances, I guess the groundhog could possibly see his shadow but let's hope he doesn't. Let's hope for an early spring, instead.

Lots of Buyers Looking at Indianapolis Real Estate

2011-02-01T06:26:00.003-05:00

The ice storm we are experiencing will put a temporary halt to showing homes but we have seen a very strong demand for houses in Meridian Kessler, Broad Ripple, Butler Tarkington and Northern Washington Township. We have the largest group of prospective buyers now that we have seen since the beginning of the Great Recession in 2007. Many of the buyers are relocating to new jobs here in the city. Stronger employment is the key to a real estate and economic recovery. Having sensible property taxes is also very important and that is now in place!

Short Sale Saga Part 4-Believe it or Not!

2011-01-31T10:19:00.005-05:00

Correspondence between the attorney helping the Seller and the Mortgage Co. from today

"Thank you (Bank Person) for finally sending me the Bank's communication you got on Jan 10th. And thank you for giving me your email address so I finally have a way to communicate with you...From what you have told me there is $xxxx more funds needed to close this deal...that is lot to ask of a distressed Seller..it there any way we can negotiate with the Bank, or with the other Bank on this $xxxx? (for example will (Bank 1) take $xxxx rather than $xxxx, and will (Bank 1) pay $xxxx to (Bank 2) rather than $xxxx) Or will (Bank 1) take Promissory Note? Is there someone from (Bank 2) I can negotiate with or are you the go between? Can you help us work this deal with less hardship on the Seller?"

Short Sale Saga Part 3

2011-01-27T14:54:00.004-05:00

Last week, the bank ordered another BPO (Broker Price Opinion) because the previous BPO expired after 90 days. The BPO is very similar to a Comparative Market Analysis or an appraisal. The work was done, the BPO submitted and the property will probably go back to the bottom of the pile with no hope of a quick closing. To refresh your memory, this home was listed in July and an offer was accepted in July. We are now entering our 8th month!

Lowball Offers Don't Usually Work

2011-01-26T10:56:00.003-05:00

Lately, we have seen a rash of lowball offers. Occasionally, Sellers will accept low offers, but more often not, they won't. Realistically, Sellers have no hope of accepting low offers because they are unable to do so unless they were to petition for a short sale. (See my posts about short sales--not a very quick process!) From the buyer viewpoint, it is great to attempt to purchase a home under market value, but frankly, the good homes don't sell for under market value.

MIBOR Report on 2010 Real Estate Activity

2011-01-24T15:54:00.002-05:00

HERE IS A YEAR END SUMMARY FROM MIBOR ABOUT INDIANAPOLIS REAL ESTATE IN 2010

Year-End Data Shows Strong Price, Slow Activity

A persistent trend of increased home sale prices with decreased activity summarized 2010 according to the MIBOR Monthly Indicators Report of Broker Listing Cooperative® data released today. During 2010 in central Indiana, the average sale price of homes increased 6.8 percent to $151,832 when compared to 2009. Average sale price during the fourth quarter of 2010 also rose 6.8 percent to $152,142 when compared to the fourth quarter of 2009. During the past six months (July 2010-December 2010), average sale price increased 6.9 percent to $155,144 when compared to the same period in 2009.

A year-end review of 2010 reveals 21,463 sales closed in central Indiana, a 9.7 percent decrease from 2009. The number of closed sales decreased by 26.5 percent October 2010 through December 2010 when compared to the same months of 2009. Statewide, the number of closed sales during 2010 was 57,765, a 6.6 percent drop.

Along with the Monthly Indicators report, a one-page report of each county within the service area is also provided. In total, these data sets are intended to be a snapshot of the market, providing historical comparisons whenever possible. The data was pulled from the BLC® listing service on Jan. 19.

To download the Monthly Indicators report, click here. To view the one-page county reports, click here. Please note, due to the length of the reports, it may take a few minutes to download. If you have questions regarding the data, please click here

Mortgage Rates Still Under 5%

2011-01-21T15:50:00.003-05:00

Mortgage rates continue in the $4.75% range for 30 year loans. Ten and 15 year loans are in the 4-4.25% range. From a long term historical persepective, these are excellent rates.

4 Open Houses this Weekend

2011-01-19T16:09:00.003-05:00

Here is a list of the homes we will be holding open this Sunday, the 23rd.

From 12-2-
44 E. 46th Street, $312,000, 3 BD/2.5 BA with tons of updates
7801 Windcombe Blvd, $214,900, 3 BD/2 BA, with full basement and many updates
6350 Meadow Circle, 3 BD/2.5 BA--just reduced this week to $146,900

From 3-5
5501 N. Pennsylvania, 4 BD, 2.5 BA in Prime Meridian Kessler location, $509,900

How Does Your Realtor Rank?

2011-01-17T10:49:00.006-05:00

The sales manager of the F. C. Tucker Company sent a memo out this morning which discusses the number of transactions real estate agents have in a calendar year and how they rate accordingly. Our team had 53 transactions last year. Per se, what is really important here is EXPERIENCE. You want to hire a realtor who can navigate the way with negotiations, inspections and a lot of important details when you're buying and a Realtor who knows what it takes to sell, market and negotiate a deal when you're selling. The MacGill Team offers 25 years of professional experience and over $150 Million in Career Sales.

"The attached report is a list of agents in MIBOR, grouped by the number of transactions they represented in 2010. If you are an agent who represented more than 15 clients, you are in the top 17% of the board. If you represented more than 20 clients, you rank in the top 11%. More than 25 clients top 7% and over 30, you rank in the top 5%."

Happy Birthday to My Blog!

2011-01-14T11:05:00.004-05:00

This blog celebrated its one year anniversary on Tuesday. Since then, there have been 174 posts about all kinds of things real estate related. Some of the posts are rather mundane, such as announcing open houses but I think there have been some good posts. The first post, on January 11, 2010 was called "The Elephant in the Room" and it was about sellers needing to price their homes realistically. The reason I call this "The Elephant in the Room" is obvious--no home seller wants to reduce the price of their home. This concept is still just as important now as it was a year ago. So, when we suggest a price reduction on your home, it is not because we are mean but that we think an adjustment is what it will take to sell your home. Gain from our Experience--$150 Million in Career Sales

Short Sale Saga Part 2-Houses Under Water!

2011-01-14T10:41:00.005-05:00

On December 9th, I placed a posting on this blog about a short sale we were working on. At this point, we are more than 7 months into the process and we have had a buyer with an accepted offer for about the same amount of time. There is still no resolution on this sale and the bank is sending out another appraiser to do another Broker Price Opinion (BPO). The moral of the story is that if one has the time and patience to wait for a short sale to be resolved, one may get a good deal but it can be a frustrating experience for all parties concerned. According to reports in the Indianapolis Star and the New York Times today, experts are predicting an all time high of foreclosures this year--1.2 Million or about 1 in every 45 homes!

January Can Be a Great Time to Sell Your House

2011-01-13T15:16:00.004-05:00

Conventional wisdom is that the best time to put your house on the market is in the spring. While this is definitely the season for the most sales during the year, don't overlook the fact that there are active buyers looking year round-even in January. In fact, there is a shortage of "great" homes right now and many buyers are waiting for something to turn up. It can definitely be worth the hassle or trudging through the snow to look at homes. Case in point, as per our blog post yesterday-we sold 321 E. 51st St. and today we received an offer on another of our listings near Meridian Kessler. Call us about listing your house today: 580-7853 or e mail us:
Mike@MacGillTeam.com
Kate@MacGillTeam.com
Alex@MacGillTeam.com

Sold in 1 Day! 327 E. 51st Street

2011-01-12T16:28:00.003-05:00

This snowy picture doesn't really do this beautiful home justice. It is a totally remodeled 4 bedroom, 3 full bath home with a 3rd floor family room, Hardi Plank siding, gorgeous updated kitchen including 6 burner Viking range, stainless Jenn Air refrigerator, refinished hardwood, reconditioned windows in every room, water proofed basement, fully fenced back yard, covered patio in front, open patio in back--truly an amazing house and listed at $349,900.

Real Estate Tip # 2 to Sell Your House Faster

2011-01-10T11:25:00.003-05:00

Take down the wallpaper! Right now, it is a buyers market and buyers look for reasons to say no when considering a home purchase. Wallpaper and bold, non traditional paint colors are at the top of the turn off list for buyers, so go ahead and remove the wallpaper before you put your house up for sale and neutralize any strong paint colors.

Real Estate Tip #1 to Sell Your House Faster

2011-01-07T11:35:00.004-05:00

Updating kitchen appliances to stainless steel is a great way to make your home stand out over other competing homes. By a wide margin, buyers prefer stainless steel, or stainless steel look appliance over white or other colored appliances. Our clients, who own the home at 2435 Talbott, just installed the new equipment and it is pictured here. This home is a 3 bedroom home on levels of finished space in Fall Creek place and priced at $269,900! Call 580-7853 to make an appointment to see this great home.

Interest Rates in 2011 are still Great!

2011-01-07T11:32:00.004-05:00

While interest rates have trended a little higher in the last 6 weeks, 30 year loans are still under 5% and ten and 15 year loans are even better. Please call us if you need names of mortgage lenders.

Just Listed 44 E. 46th Street

2011-01-04T11:36:00.002-05:00

This beautiful 3 bedroom, 2.5 bath Colonial in Meridian Kessler features Hardi Plank siding, newer roof, formal living room and dining room, updated eat in kitchen, huge master bedroom with fireplace, finished rec room and office in basement, large screened porch, open patio and large lot. Price is $312,000 and this home will be held open this Sunday from 12-1.

New Year's Eve!

2010-12-31T11:52:00.001-05:00

Wishing everyone a safe and enjoyable New Year's Eve tonight.

Real Estate Activity is Surprisingly Strong this Week

2010-12-30T14:18:00.004-05:00

In an earlier post, I mentioned that we were encouraged with the level of activity we were seeing in real estate. We have had two accepted offers this week, a fair number of showings on our listings and several listing appointments. We also have a buyer who is considering writing an offer tomorrow! I have attached an appropriate symbol of good luck--both for a prosperous new year in real estate in Indianapolis and also symbolizing our beloved Indianapolis Colts!

Encouraging Housing Outlook from Fannie Mae

2010-12-28T11:56:00.002-05:00

Here is an encouraging report from RIS Media with an economic analysis from Fannie May.

"Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae’s (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group. Downside risks still exist, however, including a weaker than expected employment report, the ongoing economic turmoil in Europe, and potential inflation problems in China.
For 2011, forecasted growth was upgraded from 2.9 percent to 3.4 percent based on the positives in the recent reports. The forecast anticipates improving labor market conditions, despite the huge disappointment from the November employment report. The housing recovery should gain momentum going into 2011 if the expected stronger labor market materializes.
“Despite rising mortgage rates, our forecast for home sales is stronger than the previous forecast, given our brighter economic growth and labor market outlook,” said Fannie Mae Chief Economist Doug Duncan. “We expect modest increases in home sales, despite recent interest rate rises, due in part to modest additional declines in home prices, and we expect people to take advantage of affordability as their employment and income outlook brightens.”
For an audio synopsis of the December 2010 Economic Outlook, listen to the podcast on the Economics & Mortgage Market Analysis (http://www.fanniemae.com/media/economics/index.jhtml?p=Media&s=Economics+%26+Mortgage+Market+Analysis) site at www.fanniemae.com. Visit the site to read the full December 2010 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast.
Also available via link from the Economic Developments Commentary is a Multifamily Market Commentary by Kim Betancourt, Director, Multifamily Economics and Market Research. The Commentary provides information on current multifamily market conditions. Sales of multifamily properties have been rising all year, and property sales are expected to remain stable in 2011. Location, class, and condition of properties continue to be the greatest decision-making factors for investors.
Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economics & Mortgage Market Analysis (EMMA) group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the EMMA group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the EMMA group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America’s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
For more information, visit http://www.fanniemae.com."

New Listings Coming on the Market!

2010-12-27T10:34:00.002-05:00

This week is fairly quiet, traditionally, but we expect 2011 to start off with a bang. We anticipate listing 6 or 7 houses next week and we have a large group of prospective buyers. We feel that this is the most positive start of a new year that we have seen in a number of years. Very encouraging!

Merry Christmas!

2010-12-25T18:05:00.003-05:00

Merry Christmas to all of our friends!