Indianapolis Real Estate Blog

Here is a look at the yearend numbers for Geist waterfront homes for 2007 vs. 2008:

	2007	2008	% Change
Active	N/A	37
Homes Sold	21	17	-19%
High Selling Price	$1,375,000	$2,000,000	45%
Low Selling Price	$384,700	$300,000	-22%
Average Selling Price	$752,540	$882,234	17%
Days on Market	67	133	99%
Price Per Square Foot	$243	$239	-2%

Despite 19% fewer Geist

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This just a quick follow up post to the CP Morgan going Bankrupt I did a few days ago. The most recent scuttlebutt is the Pulte Homes is looking into purchasing CP Morgan. I have also heard that CP has not started building a home this year, but does have a backlog of buyers waiting to start construction.

This is still rumor, but I am fairly confident that Pulte is at least looking into the possibility of purchasing CP Morgan. The word on the street is that if this does go through, Pulte would keep the CP name and operate it as a separate entity under the Pulte umbrella.

Personally, I am not so sure this would be a good move for Pulte. CP’s name has been dragged through the mud and I think it is safe to say that locally, CP does not have the

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Someone sent me this summary of the new tax credit for first time home buyers:

There were talks of a $15,000 tax credit that would be available to anyone, but that part got squashed last week.  The major differences in this credit are the tax credit was increased to $8,000 and does not require repayment unless the home is sold within 3 years.  The previous tax credit was basically an interest free loan that required repayment over a 15 year period.

Will this new tax credit help stimulate the housing market even more than the first round?  I suspect this might get some people off the fence, but overall I think it will just be people who were already in the market for a home who will benefit from this.  We will see.  Obama is also supposed to announce some

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Here is a yearend report for Zionsville Indiana real estate for 2007 vs. 2008.  This report is going to look pretty similar the Carmel report from yesterday with the number of homes sold pretty consistently down while the average sales price jumps around quite a bit.  Let’s take a look:

Number of homes sold in Zionsville:

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Average sales price for Zionsville homes:

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As you can see, Zionsville is a little more sporadic on a month to month basis.  This is most likely due to the fact Zionsville is just not as big as Carmel and not as many homes sell on a monthly

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I have put together some fancy new graph that will us analyze the Carmel Indiana real estate market for the year end 2008. Hamilton County real estate is always is top pick for many people, both locals and relocations from other parts of the country and Carmel is arguably the most desirable area in the county and the central Indiana area. That being said, let’s take a look at the number of homes sold and the average sales price for Carmel real estate for 2007 vs. 2008:

Number of homes sold in Carmel:

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Average sales price for Carmel real estate:

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As you can see,

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Update: It is official...CP Morgan is out of business and shutting its doors as of 2/27/2009.

 

If you are a customer under contract with CP Morgan and are considering purchasing a new house, please call me!! I know which builders are stable and which ones are not. Don't let this happen again, email me or call me anytime 317-733-3667.

Let me just start out by saying that this is pure rumor and speculation at this point, but word on the street is the CP Morgan could be shutting its doors.  I have heard that a shutdown is eminent and could come quite quickly.  

If CP Morgan does goes out of business, they will join several other builders in the market who have either left Indianapolis or simply been forced to shut their doors.   In the past

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We all know that Fishers real estate is among Indianapolis’ hottest areas so let’s take a look at what that means as far as the numbers go. Below is a year end, month by month, report of the number of homes sold and their corresponding average sales price for homes sold in Fishers Indiana:

	Number of Homes Sold			Average Sales Price
	2007	2008	% Change	2007	2008	% Change
Jan.	93	69	-25.81%	$218,528	$216,714	-0.83%
Feb.	107	86

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This blog and website are going to focus on Geist real estate, Fishers, and Carmel real estate the majority of the time. In light of that, and since end of year is always a great time to produce some year over year numbers I thought I would start posting some subdivision reports. Today I am going to start off with the Geist neighborhood of Admirals Bay. Actually I am going to include some stats from Admirals Bay, Admirals Pointe, and Admirals Sound. Admirals Cove, Landing, and Woods will be included in the overall stats but not broken down individually. We are going to break this down a few ways, here is a look at everything that is active, pending, and sold in all the Admirals neighborhoods:

2007

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Welcome to the first blog post at Red Door Real Estate in Indianapolis.  We have just launched our new website and are extremely excited about it.  I think this website is by far the most advanced website serving the Indianapolis real estate market.  I will be writing a few blogs about the functionality of our website and the search features available to users in the near future.  

I will go into more detail in later posts, but a few things I am really excited about is the “control panel” and the addition of Google Street View and Microsoft Virtual Earth to all the MLS listings details pages.  The control panel is a very powerful tool for users that allows you to create searches, save/view favorites, manage your profile, and communicate with us directly.  

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