Type:  Ranch

Age:   Built in 1997 

Location:   Near Carmel Drive and Guilford Road 

Neighborhood:   Carmel Station 

Square footage:  2023 including 867 in the finished basement 

Rooms:   This three-bedroom home has a split floor plan with modern décor, great room with gas fireplace and built-ins, laminate flooring throughout the main level, finished basement with wet bar and versatile office area, and two-car garage.  

Strengths:  The ranch style home appeals to buyers looking for a main floor living space.  This home is located right in the heart of Carmel just minutes from the Monon Trail and the new Palladium opening in 2011. This is one of two homes on the market in Carmel between $150,000-200,000 built in the last 20 years with a basement. 

Challenges:  The 40 foot wide lot may feel small to those wanting a large private yard, however, there is very little yard maintenance involved.

WHAT’S IT WORTH?    $170,000

This activity is leading to more Fishers, Carmel, and Indianapolis home sales, which I expect to continue through April 30th at a minimum. We keep track of home inventory on a monthly basis breaking down homes for each price level for many areas around Indianapolis. What I am seeing is a very healthy inventory level (below 6 months) for sellers and buyers at median and below price points. As the price increases, the inventory levels jump and there is much more pressure on seller’s—buyer’s have the upper hand in negotiation and quality of product for their money. The price point where the homes are typically discounted depends on where the home is located. For example, Lawrence Township home inventory can vary greatly from Fishers, which will affect the price you can get for a property. That said, there are sporadic good deals in all price ranges due to distress sales. Email John@JohnPacilio.com with questions on your specific area.

Over 70% of my real estate business in Carmel last year was a direct result of a customer or business referral. 

Here is a brief list of services that my clients have asked me to refer recently:

Home Builder

Painter

Locksmith

Carpet Installer

General Handyman

Cleaning Service

Home Insurance

Carpenter

Plumber

Electrician

Landscaper

Tree Trimmer

Concrete Specialist

Mortgage Lender

Title Company

Many of you, as business leaders, provide a valuable service to the local community.  Your livelihood is based upon utilizing your knowledge and skills in a focused area and offering that product to your customers in hope that they will tell all their friends about it. 

Start by giving another Carmel business a referral.  Inform your client of another business’s superior service.  The key is that you are absolutely sure that your client will have a  great experience.  If not, keep looking for another service provider.  Call the business so that they expect a contact from your client.  These businesses see you as a continuous source of referrals, which is a very good reason for keeping your client happy.  If you become a trusted adviser on where to go for great service, you are your client’s advocate and they will come back to you again and again.  Just yesterday, I was asked if I know a good and reasonable painter.  Since every home that I sell needs paint, you bet I can pull a list of people that I would expect to do a good job. 

Business referrals are incredibly valuable to your clients and a great way to grow your word-of-mouth business.  If you help people grow their business, they will help grow yours.  You will find this to be a profitable place to focus your time, money, and energy.

Type:  Traditional

Age:   Built in 1997

Location:   Near 146^th and Carey Road         

Neighborhood:   Worthington Estates offers custom built homes at an active price point.

Square footage:  4304 including 1374 square feet in the finished basement

Rooms:   This four-bedroom three-and-a-half-bath home has nine foot ceilings, hardwood entry, great room with gas fireplace, main floor master suite and main floor den.  Two of the bedrooms on the upper level share a Jack and Jill style bath.  The finished basement has a large recreation room and extra storage.

Strengths:  This home has a sizeable yard that backs up to an eight acre field for added privacy.  There is a main floor master suite, a feature many buyers desire that is unavailable in most homes. 

Challenges:  This home has vinyl floors and laminate counters in the kitchen compared to others nearby in this price range which may have ceramic tile or hardwoods and granite. 

WHAT’S IT WORTH?    $285,000

Hamilton County Indiana Residential sales are going to pick up in the first quarter. 

Many people ask if they should wait until spring to list their homes in the Indianapolis area.  They have the perception that buyers wait until spring to go after properties.  Reasons that they feel this way range from the obvious—It looks better with green grass, flowers, or more leaves on the trees—to the feeling that “no one looks for a home January through March”.  Data over the last several years supports the fact that yes, homes do sell when there are snowflakes and shorter days.  In fact, historically approximately 20 percent of homes sell this time of year (excluding the plunge in selling activity early in 2009 due to unprecedented intensified fear from the banking industry meltdown).  Based upon the quantity and quality of the homebuyer phone calls that I have received over the past month, we are going to have an incredible amount of sales for the first quarter.  Due to the perception of the market, people will wait to list their homes until Spring.  There will be buyers ready the first part of the year with a lower home inventory to choose from and will select from those on the market.  

We have determined in our research of monthly residential inventory levels that there is a definite price point where the market is strong and another where competitively priced homes are forcing motivated sellers to negotiate more.  I find the line is approximately $450,000.  Below this price point, homes inventories are between 3 and 6 months, a very favorable level.  Above this line as we look at prices increased incrementally into higher and higher priced luxury homes, the buyers are offered extreme bargain prices.  The higher the price, the better value for the buyer.  Supply is high and demand relatively low so a motivated seller must be open to negotiate.  At lower prices, well-priced listings are selling at a good rate within 96% of the list price. 

Continued low interest rates, $6,500 for sellers who have been in their property for 5 years, and $8,000 for First Time Buyers will continue to provide the incentive to homebuyers in Carmel and Fishers.  List your home in the beginning of January to increase your chance to sell in 2010. 

Type:  Traditional

Age:   Built in 1995

Location:   Near 116^th  Street and Gray Road

Neighborhood:   Windpointe is an exclusive community featuring a freshwater lake surrounded by a 1.5 mile walking path, fully furnished clubhouse, four tennis courts, and three swimming pools.

Square footage:  7359 including 1386 in the finished basement. 

Rooms:   This six-bedroom home offers six-and-a-half-bathrooms, two-story great room, main floor master, main floor in-laws quarters with two bedrooms and bath, large bedrooms, loft, and second floor office.  The finished basement has a home theater, fireplace and wet bar. 

Strengths:  This luxury home is located on 1.1 acres and has a beautiful lake view including a dock.  The six-gar garage is perfect for car enthusiasts with a separate heating and cooling system, epoxy floors, wet bar and basement with a lift for storage.  Price pressure in the high end market is allowing bargain values like this compared to the recent past. 

Challenges:  The closets are compact for this size of home.  The walking path runs between the lake and the home.

WHAT’S IT WORTH?    $800,000

WHAT’S IT WORTH?

Type:  Traditional

Age:   Built in 2001

Location:   Near 146^th Street and Carey Road

Neighborhood:   Foster Estates offers a swimming pool, clubhouse and easy access to the Monon Trail and Clay Terrace.

Square footage:  4706 including 1358 in the finished basement

Rooms:   This five-bedroom four-bath home offers a bright open floor plan with two-story entry, formal living and dining rooms, great room with built-ins, main floor 5^th bedroom that is currently used as an office, and finished basement with full bath.

Strengths:  The main floor bedroom/office is something many buyers look for in this price range.  This home is set on nearly a half-an-acre lot with basketball court.  This is a great opportunity for the move-up buyer to take advantage of the $6500 tax break. 

Challenges:  There are currently four other homes in the same price range for sale in the neighborhood.    

WHAT’S IT WORTH?    480,000

Those thinking about buying a home right now are in unchartered territory.  Never before has the government offered such an incentive to buy a residence.  Yes, the first-time home buyer program offering $8,000 has been extended, but there was a new addition, $6,500 for home buyers who have previously owned a home.  This is unprecedented and I fully expect it to make a sizable impact to our local real estate market.  The tax credit provides an extra incentive for homeowners who were thinking of either moving to a more expensive home or downsizing but were previously sitting on the sidelines.  

The full $6,500 refundable tax credit is available if you meet the basic criteria:

• You have lived in a home that you own for at least 5 of the last 8 years.
• Execution of a purchase agreement by April 30, 2010 and closing by June 30, 2010.
• Earn less than $225,000 as a couple jointly or $125,000 individually.  The amount of the tax credit decreases as the homeowner’s income approaches the maximum limit of $145,000 for individuals or $245,000 for couples. 
• The purchase price of the home is less than $800,000.

A significant number of home owners will be able to capitalize on either the $8,000 or the $6,500 tax credit and these homebuyers will not need to repay the tax credit if they occupy the home for longer than 3 years.  Since the home values in Carmel are less than many other areas of the country, we will likely benefit more from these tax credits than elsewhere.  Increased homes sales will drive more people pumping money into the local economy. 

Type:  Condo

Age:  Built in 2002

Location:  Near 96^th Street and Westfield Blvd.

 Neighborhood:  The Retreat is a condominium community that offers residents a clubhouse, exercise facility, business center, basketball court, outdoor pool, tennis court and private access to the Monon Trail.

Square footage: 1640 square feet

 Rooms:  This first floor end unit condo has three bedrooms, two full bathrooms, kitchen with quality cabinets and ceramic tile flooring, great room with a gas log fireplace, 9’ ceilings, neutral décor, crown molding and a two-car attached garage. 

Strengths:  The main floor end unit location is ideal for those searching for main floor living.  The community takes care of outside maintenance including snow removal, lawn care, and irrigation.  It is conveniently located with easy access to I-465. 

Challenges:  There all eleven condos for sale in the neighborhood, which puts price pressure on sellers.     

WHAT’S IT WORTH?    $165,000

There is now an opportunity to reach out to buyers anywhere in the world.  Our community borders have just opened.  Carmel and Fishers properties can be presented to qualified buyers through personal introduction in most places around the globe.  I utilize a new, structured real estate international marketing system linking the power and efficiency of worldwide professional agents who specialize in their respective areas to promote a property from our area.

The core of the concept is that your local professional has a common goal and business agreement with like-minded, United States and International agents to sell a Carmel or Fishers property.  This group of real estate agents is committed to introduce a Carmel property to their best clients.  There are more opportunities to sell a local property through a process that provides a personal introduction from a trusted advisor. 

We are able to package the city of Carmel along with the property showing our new cultural opportunities here such as the Performing Arts Center and Arts & Design District to promote the city along with the property.  There are not many places around that offer the quality of life at such a low price.  We have an incredibly inexpensive cost of living and unbelievably low property values compared to many other states and countries.   

One recent investor client from the Far East described to me that land values in her country as ten times higher than ours.  These, and many other investors are looking to purchase here for a great value.  A powerful package of the city along with the impact of relatively low property cost through a quality personal invitation opens more buyers to sell a luxury home, residential investment, or commercial property.  The process of linking outside buyers with local sellers generates increased activity in pockets where the market is soft.  More buyers is exactly what the sellers tell us we need right now.  This international system stimulates buyer activity and sales.