Should You Build a New Home in Indianapolis?

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Inventory in the Indianapolis Area is very low right now, and this has some people asking us if they should consider building a new home. Some people have also found new construction more attractive out of the fear of rising interest rates. 

New construction has really taken off in the last year, and this is in part due to the increase in price for resale properties. It's important to remember the sooner you start the building process, the better off you will be. 

If you're trying to sell your home and buy a new one, our Guaranteed Sale Program may be helpful to you. If your new home is completed and you still have your other home, we can buy it from you without any hassle or worry. This is a safety net that we are proud to offer for our customers.

We always recommend working with professional real estate agents when building a new home, and we can assist you with surveying your home, checking the blueprints, negotiating with the builders, and much more. We have access to many of the major builders around here, and we would be very happy to assist you in any way possible. 

Please do not hesitate to contact us, time is of the essence when you want to build a new home!

What's Happening with the Real Estate Market In Carmel?

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Today we're going to update you on the real estate market in the Indianapolis area. We want you to use this information to your own benefit when entering the real estate market so that you can have a profitable experience whether you're buying or selling. We're expecting a lot of real estate activity in 2015, so this market update should be useful to you. 

We're currently seeing a neutral market in the Indianapolis area, but in Hamilton County and Hendricks County, we're seeing seller's markets with 4.5-5 months worth of inventory. Low inventory is creating a seller's market in these areas, and anytime you have less homes for sale, that puts the sellers in an advantageous position. 

Home prices have been increasing over the last few years, and 2015 will be no different. Prices will continue to rise by 2-3% this spring, but should balance out by the end of the year because interest rates are expected to rise at that point in time. 

The market for new construction has rebounded along with the resale market. Last year there was a 3% increase in construction permits, so we can expect competition from the sale of new homes in 2015. Actually, last year there was a 2.5% decrease in the sale of resale homes, and we can only conclude that these buyers went and bought newly constructed homes. This means that if you're selling your home, then it needs to be in tip-top shape to compete with the newly constructed homes. 

As always, feel free to contact us in regards to real estate in the Indianapolis area. We're always happy to be of assistance to you!