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Home Buying in Zionsville : Real Estate Advice

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  • Home Buying7
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Activity 8
Sun Aug 26, 2012
Joe Shoemaker answered:
Rick:

That property is showing up as currently for sale OR for rent.

Here's a link to the rental listing:

http://mibor.fusionblc.com/DotNet/Pub/EmailView.aspx?r=1480900242&s=INR&t=INR

Good luck in your search!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501
joe@joeshoe.com
http://www.facebook.com/joeshoe
http://twitter.com/#!/jojosmojo
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Wed Aug 15, 2012
Howard Hoffman answered:
Mary -- Unfortunately, the exact address of your property did not transcribe properly in your message. I consulted the Boone County Assessor's database and found a Mary Holliday Rogers in ownership of property at 4950 Turkey Foot Road. Is that you? I hope so because you're getting the answer to the above question! Please notice that immediately to the left of the address line at the top of the online posting there is small box with "Public Record" printed in it. If you scroll over this box, you will be given a notice that this property is not currently listed and that the information being provided in the public domain, that is, the info posted has been obtained from public records, which are readily available to anyone searching/requesting them. Please note that no personal information has been included in the posting. Also, Trulia is responsible for the posting, not me. I trust this answers your question. If I can be of further assistance, please contact me (317-710-8846) or stop by our office (the old post office building north of Lincoln Park in Zville.) Best regards. --Howard ... more
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Tue Sep 7, 2010
Joe Shoemaker answered:
Brett:

It's time to call your favorite Real Estate attorney. If you don't have one, I'm happy to provide some references.

Good luck!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501
joe@joeshoe.com
... more
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Tue Sep 7, 2010
Bill Eckler answered:
Our recommendation is to begin by doing two things.....meet with several lenders to get a feel for the various programs as well as what your financial availability will be and secondly identify a local real estate professioanl that is familiar with your target location. They should be able to point out some possible homes for consideration.

If a lease option becomes necessary, the agent may be able to assist you with this as well.
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Wed Dec 2, 2009
Eric Karrfalt answered:
It's always a balancing act if you’re trying to time the market. If you buy in the future, how are rates going to be? If you buy now, are you going to get a good deal? I would suggest that rates are at historic lows and there are plenty of buying opportunities now. To top it off, there are plenty of repo and corporate owned homes on the market that are being discounted. Statistics will give you the general state of the market but you really need to define what property you want before making a decision on general statistics. There are certain price ranges selling quite well in Zionsville and Carmel. Certain communities are selling as well. Looking at year-to-year averages, our market continues to grow. Looking at just a snapshot of 2-3 months market statistics gives an unrealistic picture. We are still in one of the top 5 years, historically, in the home market here. There are simply more buyers coming here every year. The reasons are many for this, but generally speaking housing and lifestyles are good in the communities you mentioned and population is growing.
The metric you expressed can be defined as: Months of Inventory based on Pended Sales. It will give a month to month accounting as to how things are doing. For Carmel, things have been getting better each month, contrary to what you have said. 1/08 was 9 months, 2/08 was 7.3 months, 3/08 was 6.8 months.
Contrasted to last years Months of Inventory based on Pended Sales: 1/07 was 6.6 months, 2/07 was 6 months, 3/07 was 5.3 months. 4 months of inventory or less was typical of our best years ever, so 5-6 months in today’s market shouldn't be viewed as that bad. I guess where I'm going with this is that things are not as bad as what you might believe if you just listened to the media.
Now given your analysis of more inventory and fewer sales, this translates to a buyers market. If homes are not selling and inventory increases, pricing will come down as the market dictates. I'm not really worried about the market totally dropping around here. The Indy area has always been pretty stable, no huge run ups and no huge losses. So do the math. A stable market, historically low rates, increasing inventory, sales dropping. All these add up to buying opportunities.
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Sat May 3, 2014
Eric Karrfalt answered:
First I would check on if you are really getting a discount on the lot. Are you really getting $50k off the price or was it $50k overpriced to begin with. Remember, value is what the market commands, not the price tag the builder puts on it. Second, I think price is relative to the city/town/county/community the home is located in. Is a $500k home the highest priced home around or are you on the lower end of the curve when it comes to pricing? Common thought says you are better off in investment terms when you are the lesser priced home in a more expensive area, you can improve the property and/or let the higher priced homes set the curve and draw yours up to their level. If you are the most expensive home, you are always setting the curve of which someone may or may not percieve that value. There are always exceptions to that thinking but generally speaking, I have found it to be true. I would also find out the average price and sq/ft of homes in the surrounding area and see how your proposed construction weighs in against them. If you are building at a substantial discount, it may be a good deal. If you are on the higher end of sales, I might reconsider. I would also look at the volume of homes selling in that price range. This would indicate demand. If only one $500k sale took place it might be hard to move the home. If 50 homes are selling a month, that would indicate a pretty good demand and demonstrate a market you could sell to.
All of this is speculation since we can't predict the future. Markets change and homes today will vary in value in the future. Are you building in a community that has a strong population growth? This would indicate good demand in the future. Is the area shrinking in population? Probably not a good investment.
Finally, Indiana has seen home appreciation at about 3-4% annually. Last year it was flat. Over the long haul, homes have been good investments but I would not expect the 50-100% run ups in price other markets have seen. Central Indiana has always been pretty steady, no big increases, but no big loss either. My advice, buy as much home as you are comfortable with. Keep within market averages and make sure you are not the most largest and expensive home in the neighborhood. Make sure the home is large enough that you can "grow" into it as time goes by. I have seen too many "McMansions", that are half empty and for the most part unused. Not that there is anything wrong with that, it's their choice. A home is always a balance between lifestyle and a financial decision. Hope this helped.
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Tue Aug 12, 2008
Allison Ralph answered:
Do what makes you happy. A great school district won't make up for unhappy parents.
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Tue Jan 12, 2010
Tom Vornholt answered:
With current interest rates at or a little below 6% and a good selection of homes on the market, it should be an excellent time to buy. New construction home builders are making great deals on models and already-built (spec) homes and a strong amount of existing home sellers seem fairly motivated. As with any comparison of buying or renting, you will need to take into account a number of factors. Please email me and I can assist you in your search and comparisons.
Thanks!
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