First time homebuyer

Can neighbor’s property affect your Camel IN home value?

Posted in First time homebuyer, Short Sales/Foreclosures on April 15th, 2019 by Anna Stout – Be the first to comment

Is the house selling near you affecting your home value in Camel ?

foreclosure houses

When it comes to real estate in Camel, different factors can affect the value of your home. One component can be the condition of your neighbor’s property. The prices of homes selling near you can have a big impact on your home’s market value. It’s important to know how these factors can influence the value of your home.

Camel IN Comps”

Comparable properties – or “comps” as they’re sometimes called – are recently sold properties with similar features; including size, location, and amenities. They are used as a benchmark by appraisers and real estate agents to determine the fair market value of your home. Consequently, the selling price of homes nearby influence how much buyers are willing to offer for yours.

For example, let’s say you have a three-bedroom, two-bath home, that you list for $250,000. If similar homes nearby have recently sold for $150,000, potential buyers will likely wonder why your asking price is so much higher. Does your home truly have exceptional features making it worth the additional $100,000? If not, this could make finding a buyer more difficult. So, another consideration would be the true worth of your home. This is often done by an appraisal.

Appraisal Value of Camel Homes

A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth. Loan approvals rely on the appraised value of a home. This means that most lenders won’t issue a loan for more than the appraised amount. If this amount is less than the loan amount, an adjustment must be made. The seller will need to lower the price, or the buyer will need to make up the difference. Sometimes the seller and buyer compromise regarding the difference.

In addition, the bank will not approve loans if the appraiser determines that the home has certain structural issues. These issues will need to be addressed before moving forward with the sale of the home. This is often at the seller’s expense. As stated earlier, appraisers evaluate a property based on comp sales. Sometimes adjustments are made based on improvements done to the home. There are times when sellers do not make improvement or maintain their property. This leads to further devaluation of neighborhoods and possible foreclosures.

Foreclosures and Short Sales in Camel IN

Foreclosures (also known as repossessions) occur when a lender takes possession of a home due to the homeowner’s failure to meet the terms of their mortgage. Oftentimes, the property is sold to pay off the loan. If your neighborhood has a lot of foreclosed homes, your property value can take a hit. Foreclosures and short sales tend to sell at lower prices, thus diminishing the overall average sale price of the neighborhood.

These are some of the factors that can influence the value of your home. One of the most important are the comparable homes in your neighborhood. Be sure to check with your agent to make sure your value is on target before putting it on the market.

Westfield IN Real Estate Market 2016

Posted in First time homebuyer on June 1st, 2016 by Anna Stout – Be the first to comment

2016 1st Quarter Market Update for Westfield Real Estate

The real estate market stats for the first quarter of 2016 in Westfield show mostly improvements and increases. The number of homes put on the market between January and March of 2016 jumped up 16 percent, with 267 homes listed during that time. The number of homes that sold also had a significant increase, up 27 percent with 172 homes sold in 2016 compared to 127 sold in 2015. Pending homes increased, as did the low and high sales prices. Homes in Westfield sold for more money in 2016, with an average sales price of $313,372, but took a little longer to sell, with an average of 80 days on market compared to 67 in 2015.

 

Westfield Real Estate Statistics—

1st Quarter, January-March 2016

  1st Quarter 2015 1st Quarter 2016 % Change
Listed homes 225 267 16%
Sold listings 127 172 27%
Pending listings 45 79 44%
Average Sales Price $262,365 $313,372 4%
Low Sales Price $52,500 $80,000 17%
High Sales Price $804,500 $1,685,000 53%
Average Days on Market 67 80 17%
Average List Price to Sale Price 98% 98% No change

Source: MIBOR, January 1-March 30, 2015 and 2016

* This information is deemed reliable but not guaranteed.

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(all data current as of 12/10/2019)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Keeping Your Home Show-Ready with Kids

Posted in First time homebuyer, Home staging on February 15th, 2016 by Anna Stout – Be the first to comment

Family friendly community

When your home is on the market you want it to be perfect 24/7 just in case you get one of those last-minute showings. If you have kids and you’re home is listed, this may feel like a pipedream. Listing a home with kids living in it may present some extra challenges but it’s not impossible. Check out these tips to help you have your home ready to show and ready for that buyer.

Purge toys, clothes, and “stuff” – as soon as you put your home on the market, start going through all your kids’ stuff to see if there are things you can get rid. The less clutter you have, the easier it will be to keep it all straight and neat for showings. Also, consider renting a temporary storage bin to start packing up stuff you won’t need until you move, reducing the clutter even more.

Keep baskets in every room – when you get a last-minute showing, go through each room and use these baskets to pick up and store stray toys, shoes, and other items during the showing. You can even shove them in a closet or put them in the car with you when you leave.

Label current storage – make sure any storage solutions you’re using now have helpful labels or the kids know where everything goes. If they know where everything goes, it’s easier for them to help you clean up when you get that showing notice.

Don’t stress – easier said than done, but try not to stress over making your house perfect. You want buyers to see that your home is family-friendly and a little clutter here and there makes it looks lived-in and homey.

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Woodland Springs Carmel Homes for Sale

Posted in First time homebuyer on February 1st, 2016 by Anna Stout – Be the first to comment

 Woodland Springs Carmel IN

Real estate buyers with kids looking in the Carmel area will love the family-friendly amenities and environment of Woodland Springs. Located just off 116th Street, between Keystone and Haverstick, the neighborhood sits around the scenic Lake Woodland, a 52-acre man-made lake for residents only. The lake allows pontoon boats, sail boats, kayaks, canoes and other non-motorized watercraft. It’s also stocked with all kinds of fish for residents to catch.

Other community amenities include a swimming pool with a neighborhood swim team, club house, tennis courts, and an active Homeowners Association that plans various events throughout the year. Owners can store their boats in the water and many of the homes come with water frontage and docks.

Not only do homebuyers get amenities right in the neighborhood, they get convenient access to downtown Indianapolis, I-465, and downtown Carmel. Numerous restaurants, retailers and entertainment options also surround the neighborhood. Homeowners get the award-winning Carmel Clay School District as well.

 

Westfield IN 2015 3rd Qtr

Posted in First time homebuyer, Westfield Market Update on October 19th, 2015 by Anna Stout – Be the first to comment

2015 3rd Quarter Market Update for Westfield Real Estate

In the third quarter of 2015, the Westfield real estate market saw both large and small changes from the previous year’s third quarter statistics. The number of homes listed in July, August and September rose six percent, with 297 homes listed in 2015. Sold listings dropped slightly, with 291 homes selling in 2014 and 267 in 2015. Average sales prices rose nearly 11 percent, with homes selling on average for $284,802 in 2015. Another big jump was in average days on market, with homes selling 16 percent faster in 2015 over 2014. The average days on market in 2015 was 49, compared to 58 in 2015.

Westfield Real Estate Statistics—

3rd Quarter, July-September 2015

  3rd Quarter 2014 3rd Quarter 2015 % Change
Listed homes 280 297 6%
Sold listings 291 267 -9%
Pending listings 40 29 -28%
Average Sales Price $255,211 $284,802 11%
Low Sales Price $23,000 $80,000 347%
High Sales Price $2,000,000 $1,155,000 -43%
Average Days on Market 58 49 -16%
Average List Price to Sale Price 97% 98% 1%

Source: MIBOR, July 1-September 30, 2014 and 2015

* This information is deemed reliable but not guaranteed.

4224 N Capitol Ave Indianapolis IN 46208

Posted in First time homebuyer on June 20th, 2015 by Anna Stout – Be the first to comment

 

Charming 2br, 1.5ba Bungalow In Up And Coming Revitalized Butler Tarkington Area. Oak Hardwood Flooring Underneath Carpet On Main Level. Enjoy Reading Or Sipping Coffee On The Covered Porch And Entertain Friends In The Private Backyard Or Lower Level Family Room With Recessed Lighting. Up To Date Features: Windows, Roof, Furnace, Ac, Leaf Guard

Condo Communities in Carmel IN

Posted in Baby Boomers, Carmel/Westfield Neighborhoods, First time homebuyer, Millennials on March 31st, 2015 by Anna Stout – Be the first to comment

Condo Communities in Carmel IN – Let’s look at some specific condo communities in the Carmel Indiana real estate market since we have already discussed what condos have to offer. Known for its family-friendly neighborhoods and amenities, the Carmel real estate market  offers something for millennials and baby-boomers in its condo communities.

Traditions on the Monon

Located in the heart of Carmel, right on the Monon Trail, Traditions on the Monon provides easy access to all Carmel has to offer including shopping, dining and culture. Amenities include building and ground maintenance, trash removal and access to the Monon Trail.

Simeon Hawkins

Lenox Trace

Community has plenty of mature trees, pool, clubhouse, tennis and workout area and some units come with one-car, detached garage. Lenox Trace offers easy access to downtown Indy and I-465 via Meridian Street.

Guilford Reserve

Also located near the Monon Trail, Guilford Reserve has two and three-bedroom condos and townhomes. The community has plentiful green spaces, bubbling brooks and scenic ponds, giving you city amenities in a quiet setting.

Backing up to the Monon Trail, Village Green is an intimate condo neighborhood providing easy access to Carmel dining, shopping and events.

Maples of Carmel

With just 82 residences, Maples of Carmel provides an intimate neighborhood feel with the convenience of condos. Located on 116th Street just east of Keystone Drive, the community also boasts a swimming pool and green spaces.

Carmelaire

Monon and Main

Village Green

The two-bedroom, two-bath units at Monon and Main are just steps from the Monon Trail, as well as Carmel’s Art and Design District and downtown shops and restaurants.

Hunters Glen

Located off Carmel Drive, Hunter’s Glen is an adult-oriented condo community with an active HOA. Pretty courtyards and common areas, along with community swimming pool and club house make Hunter’s Glen its own private getaway.

If you think a condo in Carmel IN might be the right fit for you, contact me and I can show you what’s available in the area.

 

Condos Carmel Westfield IN Real Estate

Posted in First time homebuyer, Millennials on March 3rd, 2015 by Anna Stout – Be the first to comment

Condos Offer a Little Something for Everyone

Condominiums in the Carmel and Westfield real estate markets may be the perfect fit for you whether you are an empty nester looking to downsize or a Millennial looking for your first home. Both the Carmel and Westfield real estate markets feature several condo communities full of amenities for all interests and wants.

CondosIn later blog posts we’ll explore specific Carmel and Westfield condominiums, but first let’s take a look at what a condo has to offer and what makes a condo unique.

* When you purchase a condo, you don’t purchase the land that the condo sits on, but rather you purchase your unit. Anything outside your four walls belongs to the home owners’ association. You pay dues to the HOA (Homeowners Association) to maintain those common areas, which include outside green areas, pools, playgrounds, clubhouses, parking spaces, lobby areas and workout facilities.

* Condos are often a good choice for those desiring additional security and privacy.

* While condo HOA fees are typically higher than single-family neighborhoods, they often include perks like lawn maintenance, snow removal and utilities like sewer, water and trash removal.

 

2014 4th Quarter Market Carmel IN Real Estate

Posted in First time homebuyer on January 12th, 2015 by Anna Stout – Be the first to comment

2014 4th Quarter Market Update for Carmel, IN Real Estate

Carmel IN real estate market numbers showed mainly decreases from the numbers the year before. The number of homes listed in the last quarter of 2014 dropped slightly by four percent, with 316 put on the market in 2014 and 328 listed in 2013. Sold homes dropped 24 percent, down to 302 from 393 the year before. Pended listings increased 17 percent. The average sales prices increased slightly, with homes selling on average $354,795 in 2014. Homes sold one day faster in 2014 than in 2013, at an average of 77 days on market and the average list price to sale price saw no change.

Carmel Real Estate Statistics—4th Quarter, October-December 2014
4th Quarter 2014 4th Quarter 2013 % Change
Listed homes 316 328 -4%
Sold listings 302 393 -24%
Pending listings 48 41 17%
Average Sales Price $354,795 $343,443 3%
Low Sales Price $69,500 $26,000 267%
High Sales Price $1,325,000 $3,100,000 -58%
Average Days on Market 77 78 -2%
Average List Price to Sale Price 97% 97% No change

Source: MIBOR, October 1-December 31, 2013 and 2014

* This information is deemed reliable but not guaranteed.

 

 

Carmel One of the Best Markets for Millennials

Posted in First time homebuyer on October 9th, 2014 by Anna Stout – Be the first to comment

Carmel  Millennials -This summer, the National Association of Realtors did a study of the top 100 metropolitan areas with large Millennial populations, specifically looking for those metropolitan areas with the highest growth possibilities. The Indianapolis-Carmel metropolitan area was one of the 100 included in the study and while it didn’t make the top 10, it scored well against other Millennial areas.

Carmel is above the national average, which is 13.7 percent, for Millennial presence, with 14.5 percent of the population of Carmel fitting into the Millennial population. The average number of Carmel home buyers from 2010 to 2012 that fit the Millennial definition  was 23.5 percent, same as the national average.

Carmel’s affordability index was high compared to the national average. The affordability index looks at the median salary and median home price in an area and calculates how affordable homes are in that area based on people’s average incomes. Carmel also saw a growth in private payroll jobs from May 2013 to May 2014 that was higher than the national average, as well as a lower unemployment percentage.

The exact definition of a Millennial varies depending on who you ask, but most agree that anyone born from the early 1980s through 2000 is considered part of the Millennial generation, also called Generation Y. The study defined Millennials as anyone between the ages of 25 and 34.

You can check out the entire study here.

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