My New Blog

Bloomberg Business Week evaluated information provided by community data on the most affordable communities in America...and Fishers came out #1 in 2010. Many of the communities on this year's list are located in more glamorous locations, but none could compare with the affordable lifestyle Fishers has to offer.

This year's criteria included lower cost of living,low crime rates, excellence in schools, low pollution & available green space, high job growth with lower unemployment rates, higher family income, median household income compared to cost of expenditures, and proximity to the most populated city in its state.

With very affordable housing, an unemployment rate below the national average, and a safe environment, Fishers is the best affordable suburb in this 2010 survey. Fishers is still the fastest growing community in Indiana, but has been able to maintain excellent schools and a very affordable tax base. We are very poised for additional growth when the housing market get's moving again. Fishers has 15 years of developed home sites ready for building, and has 5 undeveloped parks totaling 152 acres along with more than 65 miles of multipurpose trails.

Those of us who call Fishers home are proud of our Town, and glad to see some accolades come our way. We didn't need this survey to tell us how great we have it living in Fishers...but its great to be noticed!

Congratulations to the residents of Fishers on this well deserved honor.

Jeff   

I wrote last year (2009) that I thought the real estate market in Fishers would rebound last year. In most price ranges that is exactly what happened. The most active price range continued to be homes priced under $225,000. Of all homes sold last year, over 90% of them were priced under $300,000. The upper priced homes have deleted much of their inventory and saw increased sales in 2009. The move up buyers seem to be poised to break out in 2010. If that occurs then we will be switching from a buyers market, to a more neutral market in 2011. That wouldn't be good for buyers, but it would be wonderful for the overall real estate market. 

Fishers has hit the bottom and on their way back to market appreciation, according to two recent studies. If you are waiting to buy at the lowest possible value, your best opportunity is in the luxury home market. Custom homes and homesite are still lagging along in sales, and offer the best opportunity for discounts. Production builders incentives have dropped dramatically due to increased sales in the Fishers area. I sold a Centex home for $190,000 last year and my client received over $10,000 in incentives. This year Centex has changed their policy to sell their homes at list price only. All of the Production Builders have followed suit and are backing off huge incentives this year. That might have more to do with their own profitability than anything else.

If you are considering buying a home in Fishers this year, be prepared to act fast and pay up to 97% of the list price. There will be deals out there, but usually on homes with problems. The good ones are selling just fine.

Jeff Carroll

Managing Broker

Encore Sotheby's International Realty   

I guess I'll remember 2009 more for the Foreclosure problems than anything else. I've never seen or been involved in so many distressed sales. My heart goes out to anyone who had to go through the ordeal of a foreclosure or short sale. This was a part of the overall market, but really didn't dominate our market like it did so many others.

It was however a much better year than most anticipated. Real Estate is so relative in poor performing markets...if your home sold then it wasn't such a bad year. For most sellers with homes priced under $300,000 it was a good year. They sold their homes fairly quickly, and were rewarded with discounted prices if they were a move up buyer as well. Over 90% of all homes sold in 2009 were priced under $300,000. I did see the inventory of homes in all price ranges drop, fueled by a stronger local demand of move-up buyers. Many experts believe that our market will balance out soon, and we could experience a neutral to sellers market in the coming year in some price ranges. There is every reason to believe that 2010 will be a much better year for sellers, and that our market will continue to provide excellent home values for buyers as well.

2009 Results:                   INDIANAPOLIS           HAMILTON COUNTY

HOMES SOLD                        11,201                         4,580

AVERAGE SALES PRICE         $103,620                     $229,205

AVG. DAYS ON MARKET             87                              81

AVG. SALES PRICE/LIST PRICE   93%                           96%

JEFF'S HIGHEST SALE        $1,633,000                  $1,235,400

HIGHEST SALE                 $1,899,000                  $2,625,000

Hamilton County continues to lead the way as the fastest growing County in Indiana. Fishers remained the fastest growing community in the State, and is poised to continue this growth with thousands of acres approved for future development. Carmel remains the leader in average sales price of their homes, and highest per capita in earnings. Watch for Westfield and Noblesville to continue their growth spurts well. All based on excellent school systems and strong business base.

Have a very prosperous and Happy 2010.

Jeff Carroll    

Most everyone I've talked to lately mentions that they know Sotheby's and the Auction House, but they weren't aware that Sotheby's has a Real Estate Company. I had one call over the weekend from a neighbor of one of my listings, wondering why my client was auctioning off their home. I think that's a natural observation, but not right at all. I'd like to tell you what we are planning to do in Indianapolis, and what Encore Sotheby's International Realty's mission will be.

Sotheby's Auction House was founded in 1744 and is one of the World's oldest and most notable Companies. Sotheby's recognized in 1976 that it could serve its auction clientele in a valuable new way, by offering a complete package of real estate services. Founded on the same commitment to exceptional service that characterized the Auction House, the Sotheby's International Realty brand was born. They soon became known for representing the most distinctive properties around the world. Jeff Cohen and Mark Zukerman brought the franchise to Indianapolis based on the belief that ALL Properties would receive the same high level of service, and would assemble only veteran agents known for their service, top production, and reputations. This core belief that the Clientele and the Agent that represents them are our firms top priority, creates a new standard in our real estate market.

What will you get when you work with a Encore Sotheby's Real Estate Agent? You'll get a full time experienced agent who has consistently achieved Top Producer status in our industry, local experts with a global reach, unique marketing for all of our listings, professionalism, integrity, and excellent knowledge of our local market, and you'll receive the premium service you deserve in every aspect of your real estate experience.

We cater to every property in every price range. Our agents understand the discerning needs of clients who deserve a high level of service through the entire real estate experience. They enjoy using their talents and experience to find buyers and sellers, and to successfully bring them together. 

Encore Sotheby's International Realty is located at 9510 North Meridian Street, and our phone number is 317-660-4444. I can be reached directly at 317-201-9636. We would enjoy visiting with you on the phone or in person.

Happy 2010,

Jeff Carroll

Sales Manager/Broker

Encore Sotheby's        

I've officially moved to Encore Sotheby's International Realty. Along with representing my client base of buyers and sellers, I'll also be the Sales Manager/Broker for over 20 of the top area real estate agents.

Sotheby's is rich in heritage and was founded in 1744, making it one of the World's oldest Companies. Sotheby's Realty was formed in 1976 and was founded on the same commitment of exceptional service to its clientele. The Sotheby's International Realty brand has become known for representing some of the most distinctive properties around the World. Our goal in Indianapolis is to offer premier service to every home and every client we represent.

The Sotheby's Brand has rigorous criteria for awarding of an affiliation. My owners group is led by Jeff Cohen and Mark Zukerman, two of the most successful & genuine men I know. I'm proud to be affiliated with them, and honored they gave me the opportunity to help lead Encore in the years ahead.

Unique Marketing for all of our homes is the cornerstone of Encore Sotheby's realty. All of our properties will benefit from the Brand's Local, National, & International Advertising and Public Relations Campaigns. Professionally designed marketing materials will set Encore and their client's properties apart from all of the others.

We've got a great brand...top selling & veteran agents...experienced ownership group...fabulous office support staff...and we are fired up to help you buy or sell your homes.

Have your best day ever!

Jeff Carroll

Sales Manager/Broker

317-201-9636

jcarroll@encoresothebysrealty.com         

To all of my clients in Hamilton County, I'd like to tell you that we are slowly coming out of this real estate recession. New home starts in Fishers are the strongest in the 9 County area of Indianapolis, with Carmel & Westfield right behind. The glut of existing homes on the market has been reduced greatly, and in some areas we are experiencing a relatively normal market. It is still true that the move-up market is weak, with 90% of all home sales selling for less than $250,000.

Hamilton County is ready for this rebound with relatively low unemployment, low interest rates, excellent schools, and a strong supply of affordable homes. The real wave of recovery will happen when the move-up market starts to sell in larger numbers. Homes priced above $300,000 have been the worst hit over the past year. The inventories in this market have subsided as well, and the good listings are selling quicker and for more money. It is still a Buyer's market in most price ranges...but this is slowly changing. It is fair to say that Hamilton County has seen the bottom of this crisis, and we are on the way back up to a more fair & balanced market. It is more important than ever for both the buyer's and seller's to get great representation, and be sure to do their homework on the value of their homes.

Have your best day ever,

Jeff Carroll

Your referrals are the greatest compliment I can ever receive.   

It's not too late for you to buy a home and receive the 2009 1st Time Home Buyer Tax Credit. Here are the Basics of the Program for those who qualify:

First Time Home Buyers who purchase a home prior to December 1, 2009. You have until 11/30 to close and own your home!

To qualify for a First Time Home Buyer Tax Credit, the purchaser or spouse may not have owned a home during the 3 years prior to their new purchase.

The 2009 Tax Credit may be applied to primary residences only. This would include single family homes, condos, townhomes, etc...

The maximum allowable tax credit for home buyers is $8,000.

Every tax credit is determined by two factors. The single home buyer's income can up to $75,000, and married couples can make up to $150,000 jointly and receive the maximum benefit. If the buyer's income exceeds these levels they can still get a decreased , and married filing jointly is $170,000.

The tax credit does not have to be repaid as long as the buyer lives in the home for three years or more. If the home is sold prior to the three year period, the tax credit will be recouped upon the sale.

This tax credit can be applied to the current and previous year tax returns.

Call me with any questions about this program, or visit www.housingmarketfacts.com for a complete review of the program. 

It will take at least 30 days to get your home closed, and could take as much as 45 days. That only gives us 2 months to find and close on your new home. Call me today to get the process started. There are some spectacular values out there for you.

Have your best day,

Jeff  

Patti and I are really excited to be the franchise owners of the new Primrose School of Carmel. The zoning went brilliantly thanks to the expertise of Primrose, the Children's Design Group, and Steve Hardin of Baker & Daniels. We assembled a great team and it really paid big dividends for us through this process. 

Many of you have requested information concerning the Primrose School Balanced Learning curriculum, rates, etc..., and we are very gratified with your interest. Our scheduled School opening is May of 2010 which is right around the corner. As soon as we are able to, we will provide you with all the school information you have requested. Our main task right now is to get the school construction started, and go through the extensive Primrose training in the next few months.

If you are currently looking for a Childcare provide in your area, be sure to call a local Primrose School. Primrose is the Leader in Educational Child Care and offers the best private preschool education in the Country. You can see for yourself at www.primroseschools.com.

Have your best day ever, and remember to "Just Ask Jeff" for all your real estate needs.

Jeff Carroll

317-201-9636          

I met with Ritesh & Jayana last week in thier new Drees home under construction in Thorpe Creek. This home is unbelievable and the lot is one of a kind! We walked the home during their pre-drywall meeting with Drees Homes. They were able to see where all of their mechanicals, electrical, plumbing, etc...were installed priro to the drywall going in. The framing of the home is complete and they were setting up for drywall, exterior brick, and insulation.

Within two more weeks they will have this home fully bricked, drywalled, and ready for some interior finishing. Wow!!! The quality of the home is impressive and the Jariwala's couldn't be happier with the home so far. They are expecting a late October to mid- November move in. I'll have pictures to post next time.

Congratulations to the Jariwala's on their soon to be new Fishers home.

Jeff  

Just as sure as you can't tell you're in a recession until months after it has started, the same is true as we exit the recession.  Timing the bottom of the recession and buying at the lowest possible price is behind us in my opinion. There are still Buyer opportunities in areas and price ranges of Indy, but many of the markets are gaining sales momentum. I'll even be bold enough to say that some are actually appreciating in value again.

If you live in Hamilton County then chances are that you have a different view of the housing crisis as someone who lives in Hancock or Hendricks County. If you live in a $200,000 home you'll feel much better about selling your home than someone who lives in a $800,000 home. It really depends on where you live, and what price home you are trying to sell.

There is reason to celebrate in Hamilton County for Seller's with homes priced under $650,000. The months of available home inventory has been greatly reduced, and homes are selling much faster than we've seen in early 2009. If you list your home for sale under $300,000, then you should be very happy with your sales price and days on market. Remember that 95% of all homes sold last year sold for less than $250,000. That figure has dropped to under 90% this year helping higher priced homes move a little faster, and showing an increase of move up buyers. The Buyers are now picking over the good homes, and in some cases competing with each other when making offers. 

This good news will spread around the nine county area, and in 2010 we will see a more balanced market in most areas. The result from this will be higher sales prices with lower days on the market, and best of all increased new and existing home sales. We won't return to the glory days of the 90's, but we will see a return to fair valuation on homes.  Now is a great time to buy...and I can now say it is a very good time to SELL!