Posted on March 11th, 2010 by Richard. Categories: Market Conditions, Market Watch
The market in our area showed some impressive gains last month compared to the same month last year in several ways. Over 25% more homes sold in February 2010 than this same period last year. You have to keep in mind too that last month was one of the coldest and snowiest Februaries that we have had in a while, which usually helps to slow activity. The average sale price of a home in the nine county central Indiana area also rose, which indicates that sales of more expensive homes are now being added into the mix, raising the average price. In addition, the number of homes on the market dropped which means the market continues to head toward a more balanced market for both Buyers and Sellers.
For more detailed analysis of the local residential market with actual numbers, charts and graphs, view my latest Market Watch Newsletter.
Posted on March 9th, 2010 by Richard. Categories: Architecture & Design, Real Estate Perspective
A garage is something that most of us probably take for granted. But if our cars had to stay outside during weather extremes, we’d appreciate them more. A customer of mine has been looking for a home in an area where most of the homes have garages, but maybe a fifth of the homes do not. Of the ones that do, most of them are detached garages that stand alone from the home. That’s just the way they built them back then in this neighborhood which was developed between 1925 to about 1945. I was thinking that the detached garage was probably a carry-over from earlier days when carriage houses and stables were located separate from the house. When the horseless carriage came along, it went in it’s barn too. The car evolved then into such an integral part of our culture and daily life…and the convenient access and use of them made way for attached garages, which are here to stay.
If a home does not have a garage, it is definitely harder to sell. Not that it won’t sell without a garage, but a lot of people will pass on it to find one that does. So it reduces the chances of a sale. If you look at an old home built before 1950, chances are the garage is not visible from the front…just the lines of the home itself. Now it’s not uncommon to see a home design where the garage door is probably the most prominent feature of the front facade. Part of that is because the builder has to figure out how to fit both home and garage on a lot that’s not real wide. That’s not my favorite design because to me it says the use of the automobile is the most important part of a home. Attached garages became part of the demise of the large front porches so common on old homes. That and air-conditioning.
I was driving around recently, saw this garage and had to snap a photo. As garages go, I really like the look of this one. What car wouldn’t want to call this home?
Posted on March 7th, 2010 by Richard. Categories: Nature
What a difference a few days make. The snow is practically gone except for where plows or shovels have made the deepest piles. It feels like we are coming out of a smaller version of the ice age. The glacier is finally receding and ice pack melting. Just a few days ago this scene above on White River was white and frozen. It might be interesting to come back here again in a few more weeks and document the change from the current browns and grays back to the fresh green of spring. It’s coming soon.
I love the changes in the seasons here. Unlike other places it’s very balanced between winter, spring, summer and fall, with a taste of everything. I suppose the coldest part of the winter is not the most fun part, but it sure makes springtime that much more enjoyable.
Posted on March 5th, 2010 by Richard. Categories: Cuisine & Restaurants
If Italian food is something that moves you, then this is someplace you might try if you haven’t already. I wasn’t sure what this place would be like initially because it’s a franchise…and the first thing you notice is the decor, which is made to resemble an old authentic Italian villa with hints of distressed and missing pieces of trim and old exposed brick here and there with plaster pulling away in sections. It just looked peculiar at first because it looked like NEW distressed trim and NEW old brick with NEW old plaster. Maybe I’m being too critical, but I felt like they were trying to trick everyone with the new ‘old’ features. Possibly now the natural aging process is catching up with that a bit in the years it’s been there. Perhaps that’s aided from a little smoke occasionally from their open wood-fired pizza oven among other things? (I love that wood-fired oven by the way!) But somehow the interior looks better than it did at first. Maybe it’s just that I like the whole dining experience enough now to enjoy it all.
When you go to a restaurant, the whole experience is everything, but the food is undoubtedly the most important part. All I know is everyone I’ve ever been with there seems to have enjoyed anything they’ve ordered. All very good. The servers and wait staff have been friendly, courteous and professional, and have made me or my companions feel welcome. I like the fact too that the menu is diverse and varied so that anyone can find something that looks tantalizing to them. So I would have to give Bravo the official IHB thumbs-up. Nice destination when you are craving Italian.
Bravo is located on the north side of 86th Street, just behind or north of Castleton Square Mall at 8651 Castle Creek Parkway East Drive.
Posted on March 4th, 2010 by Richard. Categories: Market Conditions, Real Estate Perspective
Here’s a graphic representation showing the number of homes on the market in the nine county greater Indianapolis metro area vs. the number of sales there over the last 13 months. The numbers add some general perspective. Comparatively, the market now is slow in relation to earlier months or prior years with record number of transactions…and terrific if you compare to certain months or earlier years with low activity. If you are thinking about selling your home or buying another one, does it really matter how the market as a whole compares to another one? Well, an overall view of the market has it’s place I suppose. But each county, city, neighborhood and home itself is unique…and every Buyer and Seller has a unique set of circumstances that motivate them. Sales happen one at a time. Some homes still command top dollar and others do not.
I guess what I would take away from this graph though is…the market is not red hot like earlier periods…but still, it’s a good market, with lots of homes being bought and sold. Generally speaking, maybe it’s not the best time for someone to ask as much as possible for their home. But the flip side is, they can probably buy one for less now too. So the net effect is about the same as always, and maybe even better if they are moving up in price range. The only thing that will change that though is interest rates. I wondering what a graph like this will look like later when the low interest rates we’ve been accustomed to for a while begin to climb…which they will at some point. Higher interest rate translates into less affordability. Lots of people will wish that they had made their move earlier.
Posted on March 2nd, 2010 by Richard. Categories: Nature, Photo Flash
I was on my way somewhere earlier today which led me to cross the causeway over the northeast end of Geist Reservoir, and thought the view there captured above was worth stopping for. I couldn’t decide what was more beautiful…the frozen surface of the lake stretching to the horizon, or the dozens of immense clouds floating like giant zeppelins everywhere, back-lit by the Sun with the deep-blue backdrop. It was great to finally feel the sun again, even though just in spurts, as the beams angled through the open spaces when they could, creating ribbons of light on the surface and warming whatever they touched.
Posted on March 1st, 2010 by Richard. Categories: Just for Fun
A few months ago, someone I know sent an email to me with this picture and instructions to pass it on to everyone I know. The ‘ol chain letter idea gone digital. The image is supposed to be of a Money Goddess…and supposedly the more people I forwarded it to, the more successful I’d be in receiving great riches afterwards. Let’s say I believed it…or even if I just wanted to pass it along as harmless fun, on anything like this, I’m suspicious that someone might have embedded some sort of virus or invisible program code in the email that will harvest addresses from me and everyone it’s sent to and then send them to someone someplace. As you can see I’ve become quite cynical and paranoid about spam. But I liked the picture…she’s kind of cute and colorful huh?…and so I copied the image and saved it. (I did pass the image file through the virus scanner 5 times first though just to be safe!) Instead of forwarding the email and picture, I printed it and have her on my bulletin board watching over my daily operations. I figure, what can it hurt? If it doesn’t work, then I’m no worse off than before…and if it does work, well, that would be good…right? With tax time coming up soon and heading out of the slower winter months, I thought we all could use a little more positive financial energy. So, I have decided to share it with everyone I could afterall. Don’t worry though, no Trojan Horse viruses or address gleaners added.
May this bring you good fortune…and may your bank account overfloweth.
