Type:  Ranch

Age:   Built in 2001

Location:   Near 146^th Street and Spring Mill Road

Neighborhood:   Centennial is a large neighborhood with a swimming pool, playground, basketball court, sledding hill, soccer fields, tennis court, and walking trails.

Square footage:  3179 including 1297 in the finished basement

Rooms:   This two-bedroom two-bath home has a main floor den, great room with wood-burning fireplace, formal dining room, full finished basement with a large recreation area, and two-car garage.

Strengths:  There is a full finished basement.  The property is immaculately landscaped and has a built-in sprinkler system and large covered porch.  This home is located directly across from a huge park. 

Challenges:  There are only two bedrooms but the office can be transformed into a third bedroom with the addition of a closet. 

WHAT’S IT WORTH?   $250,000

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

Type:  Tradional

Age:   Built in 1996

Location:   Near State Road 31 and 196^th Street

Neighborhood:   Morgan Woods is an established neighborhood with large lots and mature trees.

Square footage:  2088

Rooms:   This three-bedroom home has two-and-a-half baths, a great room, dining room, two-story entry, open floor plan, and two-car garage. 

Strengths:  This home is a great value worth more than the list price.  It sits on a wooded lot, has a nice two-story entry, and has same the amenities found in homes above $200,000.  Overall, the home is in good shape considering that it is winterized and no longer actively kept up by the owner.

Challenges:  This is a bank owned home sold in “as-is” condition and may provide some hidden expenses that will increase the chance of requiring surprise out of pocket funds.  The roof has a tarp where there has been a leak possibly caused by a tree limb. 

WHAT’S IT WORTH?    Listed at $156,900

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:  Tri-Level

Age:   Built in 1973

Location:   US 31 North near 161^st Street

Neighborhood:   Outside of a typical subdivision

Square footage:  3087 square feet including 672 in the partially finished basement

Rooms:   This four-bedroom home has three bedrooms located on the upper level and a master suite on the main level.  The floor plan has a family room with a floor-to-ceiling stone fireplace, formal living and dining rooms, and a nicely finished media room in place of what was once the garage.  The home has new laminate flooring and new paint inside and out. 

Strengths:  The exterior is stone on all four sides.  The house is on a sizable over ¾ acre lot and has no homeowner association restrictions or mandatory fees.  The backyard is fully fenced.  There is a newly-built detached garage that is nearly twice the depth of typical garage with high ceilings and overhead walk-up storage.  This rental rate on this home is $1500 per month. 

Challenges:  This home has a water restriction that would limit the number of occupants.  The front of the house faces US 31.

 WHAT’S IT WORTH?    $180,000 for sale or $1500 per month for lease

Type:  Traditional       

Age:   Built in 2005

Location:   Near 191^st and Allisonville

Neighborhood:   Highlands Prairie is a newer community that offers residents a community pool and playground. 

Square footage:  2724

Rooms:   This three-bedroom home has three full baths, a main floor den that can be used as a fourth bedroom, Corian and granite countertops, new carpet, upstairs bonus room, and finished three-car garage. 

Strengths:  This home is priced at $78 per square foot while the rest of the homes for sale in the neighborhood have an average price per square foot of $108 (based on information obtained from the Metropolitan Indianapolis Board of Realtors).   

Challenges:  This home is a possible short sale which may cause a delay in closing.  The home is being sold as-is. 

WHAT’S IT WORTH?    $213,000

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