Kay Kammeyer\’s Blog

More than 1,400 Central Indiana homes pended in February, with two of nine Central Indiana counties reporting increased sales compared to the same time period last year, according to sales statistics compiled by F.C. Tucker Company. Overall, February year-to-date home sales decreased 16.7 percent, down 567 homes from the same period in 2010. Increased home sales were seen in Morgan and Shelby counties with a 16.1 and a 4.9 percent increase year-to-date, respectively.    

œWe are continuing to see a slower first quarter of 2011 than 2010, as we predicted, said Jim Litten, president of F.C. Tucker Company. œThe first three months of 2010 were unusual due to the federal tax credit that spurred sales. As the employment outlook improves and the traditional real estate sales season begins, we expect positive gains month-over-month starting the second quarter of this year.

Tucker™s data indicates that all but four of Central Indiana™s nine counties saw increases in average home prices. Shelby and Madison counties experienced the highest increases in home sales with a 13.7 and 16.6 percent increase year-to-date, respectively. Homes in Shelby County sold for an average of $83,427 and in Madison County sold for an average of $72,077 in February 2011. The average year-to-date sales price for a home in the nine-county area was $139,019, which is 1.8 percent more than February 2010. Of the 1,473 pended homes in the region last month, 26 were priced $500,000 or more; 83 were priced $300,000 to $499,999; and 1,364 were priced at $299,999 or less.

Available homes for sale in the nine-county region dropped 3.6 percent in February 2011 with 14,259 homes on the market, 539 fewer than in February 2010. Inventory tightened in all price ranges compared to one year ago, especially in the $500,000 and over price range, which averaged 23.4 percent fewer homes on the market. Three counties experienced above average inventory declines. Marion County experienced the greatest decrease in inventory at 6.6 percent, followed by Madison and Shelby counties with 6.4 percent and 4.5 percent, respectively.

Contact Kammeyer Realty Group at 317-570-3800 for more information on the Indianapolis area real estate conditions or visit us at www.KammeyerRealtyGroup.com.

More than 1,250 Central Indiana homes pended in January, with two of nine Central Indiana counties reporting increased sales compared to the same time period last year, according to sales statistics compiled by F.C. Tucker Company. Overall, January home sales decreased 12.2 percent, down 179 homes from January 2010. Increased homes sales were seen in Shelby County with a 6.9 percent increase and Boone County with a 4.8 percent increase.  

œAs predicted the Central Indiana real estate industry experienced a slower January than last year, said Jim Litten, president of F.C. Tucker Company. œThe first quarter of 2011 will be tough to compare to 2010 due to the increased sales driven by the federal tax credit last year. Once we™re comparing apples to apples, we expect to see home sales statistics improving on a month-to-month basis beginning in April.

Tucker™s data indicates that four of the nine Central Indiana counties saw increases in average home prices. Homes in Shelby County sold for an average of $80,261 in January 2011, a 36.1 percent increase over the same period last year. Also, Boone County showed a 32.5 percent increase in home prices, bringing the average to $239,431. The average year-to-date sales price for a home in the nine-county area was $137,913, which is 2.6 percent more than January 2010. Of the 1,288 pended homes in the region last month, 28 were priced $500,000 or more; 91 were priced $300,000 to $499,999; and 1,169 were priced at $299,999 or less.

Available homes for sale in the nine-county region dropped 2.7 percent in January 2011 with 14,138 homes on the market, 396 fewer homes than in January 2010. Inventory tightened in all price ranges compared to one year ago, especially in the $500,000 and over price range, which averaged 23.2 percent fewer homes on the market. Five counties experienced above average inventory declines. Shelby County experienced the greatest decrease in inventory at 12 percent, followed by Morgan and Marion counties with 5.9 percent and 5.4 percent, respectively.

The average days on the market increased over last year by 8.9 percent with an average of 98 days on the market. Morgan, Madison and Hendricks counties experienced decreases in the number of days on the market, selling on average 12 days faster than in 2010. Boone County saw the biggest increase in number of days on the market with an increase of 57 days over 2010.  

Contact Kammeyer Realty Group at 317-585-2802 or visit www.KammeyerRealtyGroup.com for current market conditions in the Indianapolis area.

For the fifth straight month, home sale prices in all nine Central Indiana counties year-to-date through November have increased over 2009 by an average of more than 8 percent, just a few points off the national average, according to sales statistics compiled by F.C. Tucker Company. Meanwhile, November pended home sales are down -17.5 percent over November 2009, with an average of -10.1 percent for the year.

œIncreasing home prices point to signs of recovery in Central Indiana, but we still need to work through the nationwide foreclosure issues and increase the employment rate, said Jim Litten, president of F.C. Tucker Company. œWhile home sales are not where we want them to be, we still have seen movement in the market, with more than 20,000 homes sold this year,

On a year-to-date basis, 20,560 homes have pended in the region through November, compared to 22,871 homes pended through November 2009. The average sale price for homes in Central Indiana year-to-date through November was $150,130. Of the 1,222 pended homes in the region last month, 27 were priced at $500,000 or more; 75 were priced at $300,000 to $499,999; and 1,120 were priced at $299,999 or less. More homes are on the market in the price range of $299,999 and under, while inventory continues to tighten at prices of $300,000 to $999,999.

The average days on the market decreased year-to-date through November 2010 over last year. On average, homes were on the market for 84 days year-to-date through November 2010 compared to 89 days year-to-date through November 2009. Shelby County experienced the biggest decrease in days on the market, selling on average 10 days faster than last year.

Overall, more homes were on the market last month compared to November 2009, with the number of listings up slightly at 1.6 percent with 15,151 homes for sale. Hendricks, Hamilton and Boone counties experienced the highest inventory increases, while Morgan, Marion and Shelby counties experienced a slight decrease in inventory compared to November 2009.  

For more information on current Indianapolis area real estate conditions contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.

For the fourth straight month, home sale prices in all nine Central Indiana counties year-to-date through October have increased over 2009 by an average of nearly 9 percent, according to sales statistics compiled by F.C. Tucker Company. Meanwhile, pended home sales are down -40.7 percent over October 2009, with an average of -9.7 percent for the year.

On a year-to-date basis, 19,319 homes have pended in the region through October, compared to 21,398 homes pended through October 2009. The average sale price for homes in Central Indiana year-to-date through October was $150,282. Of the 1,301 pended homes in the region last month, 51 were priced at $500,000 or more; 102 were priced at $300,000 to $499,999; and 1,148 were priced at $299,999 or less. More homes are on the market in the price range of $299,999 and under, while inventory is tightening slightly at prices of $300,000 and above.

The average days on the market decreased in all nine counties in October. On average, homes were on the market for 84 days year-to-date through October 2010 compared to 89 days year-to-date through October 2009. Shelby, Johnson and Madison counties experienced the biggest decrease in days on the market, selling on average 9 days faster than last year.

Overall, more homes were on the market last month compared to October 2009, with the number of listings up slightly at 0.6 percent with 15,588 homes for sale. Hamilton, Hancock, Hendricks, Johnson and Madison counties all experienced inventory increases, while Hendricks saw an increase of more than 10 percent. Boone, Marion, Morgan and Shelby counties had fewer homes for sale in October 2010 than in October 2009.

œThe number of home sales in October 2009 was artificially high due to the federal housing stimulus package, so comparing this October to last October does not paint a true picture, said Jim Litten, president of F.C. Tucker Company. œThat said, I am disappointed in last month™s sales, but am optimistic that by the second quarter of 2011, we will see marked signs of improvement.

Contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com for more information on Indiana real estate market conditions.

Hancock, Morgan and Shelby counties all showed an increase in pended home sales last month compared to September 2009, while overall home sales in the nine-county Central Indiana region were down slightly by 6.1 percent for the year, according to sales statistics compiled by F.C. Tucker Company. Meanwhile, September 2010 home sales were off -22.8 percent compared to September 2009.

On a year-to-date basis, 18,028 homes have pended in the region through September, compared to 19,204 homes pended through September 2009. More homes are on the market in the $299,999 and under price range, while inventory is tightening slightly at prices of $300,000 and above.

Overall, more homes were on the market last month compared to September 2009, with the number of listings up slightly at 1.7 percent with 16,336 homes for sale. Hendricks and Boone counties experienced inventory increases of more than 10 percent. Madison, Marion and Morgan counties had fewer homes for sale in September 2010 than in September 2009.

The average sales price for homes in Central Indiana is up 8.1 percent year-to-date, for an average of $149,639. Of the 1,725 pended homes in the region last month, 31 were priced at $500,000 or more; 94 were priced at $300,000 to $499,999; and 1,600 were priced at $299,999 or less.

Good news for the Central Indiana housing market, average days homes for sale stayed on the market decreased in all nine counties in September. On average, homes were on the market for 83 days year-to-date through September 2010 compared to 90 days year-to-date through September 2009. Shelby, Boone and Johnson counties experienced the biggest decrease in days on the market, selling on average 12 days faster than last year.

œAs the nation addresses the foreclosure crisis, we are closely watching the local impact, said Jim Litten, president of F.C. Tucker Company. œThe fourth quarter of the year is a natural slowing of real estate activity, but I am convinced home prices have hit bottom and are on the way up.

For more information on Indianapolis area current market real estate conditions contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.

Before you begin house-hunting, you should meet with a lender and be pre-qualified. This will help you determine the price most suited to your ability to pay and your comfort level. Pre-qualified gives you a number of advantages.

• You will be assured that you’re looking at homes you can confidently afford to finance. Your efforts will be focused on properties that match your financing abilities.
• When you find a property, sellers will take your offer more seriously given that you have a lender that has committed to backing your offer.
• You will have an edge over other buyers who aren™t pre-approved. In situations where there are multiple offers on a property, this can be the difference between having your offer accepted or losing the property to another buyer.

For more information on how you can become pre-qualified contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.

Madison County showed an uptick in pended home sales last month compared to August 2009, while Boone, Hancock, Morgan and Shelby counties have all posted positive gains year to date, according to sales statistics compiled by F.C. Tucker Company. Overall, pended home sales in the nine-county Central Indiana region were off -23.1 percent in August 2010 compared to August 2009.

On a year-to-date basis, 16,215 homes have pended in the region through August, compared to 16,981 homes pended through August 2009, down 4.5 percent for the year.

More homes were on the market last month compared to August 2009, with the number of listings climbing 6.3 percent with 17,225 homes for sale. Four counties experienced below-average inventory increases. Marion County experienced the least change in listings, with just 4.1 percent more homes available, followed by Shelby, Johnson and Morgan counties.

The average sales price for homes in Central Indiana is up 8.9 percent year to date, due in part to greater sales activity for homes in the $300,000 to $499,999 range. Of the 1,790 homes that sold in the region last month, 45 were priced at $500,000 or more; 124 were priced at $300,000 to $499,999; and 1,621 were priced at $299,999 or less. In fact, a recent report on CNNMoney.com ranks Indianapolis as one of the top five most affordable housing markets.

œThe tax credit helped many first-time home buyers enter the market, which in turn has enabled some move-up buyers to consider homes priced at $300,000 and above, said Jim Litten, president of F.C. Tucker Company. œOnce the employment rate picks up, I would expect to see home sales respond accordingly.

For more information on the Indianapolis area and Fishers real estate market, contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.

A licensed real estate professional provides much more than the service of helping you find your ideal home. Realtors are expert negotiators with other agents, seasoned financial advisors with customers, and superb navigators around the local neighborhood.

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

2. Information and opinions. REALTORS ® can provide local community information on utilities, zoning, schools, and more. They™ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR ® to find all available properties.

4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Property marketing power. Real estate doesn™t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner™s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR ®, qualified prospects will be prescreened.

6. Someone who speaks the language. If you don™t know a CMA from a PUD, you can understand why it™s important to work with a professional who is immersed in the industry and knows the real estate language.

7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS ®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

8. Objective voice. A home often symbolizes family, rest, and security ” it™s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they™ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

For more information on how Kammeyer Realty Group can help you buy or sell an Indianapolis area home, call them at 317-570-3800 or visit www.KammeyerRealtyGroup.com.

Market Value vs. Appraisal Value
Market conditions currently have set the price of your home 10% less then the appraisal. Market value is what has sold in the last 6 months. The true value of your home is what someone is willing to pay for your home.

List Price vs. Sales Price
Typically you will receive 97% of the list price of your home. We keep this in consideration when we price the home. In this example we would add 3% to the selling price to get the list price.

Key Reason a Home Does Not Sell is Price
Since you will generally have the most showing activity during the first 30-45 days, it™s important to be priced competitively. Prospective buyers comparison shop and are aware of the value of available homes. If potential buyers feel the price is too high, they™ll move on to the next one. Price can overcome objections to location and condition.

Market Adjustment
After the first 30 days and if we have had six to eight showings with no offer, we will discuss repositioning the price of your home. If there have been no showings that means the market has rejected the price and we will discuss repositioning the price of your home even more. Every month thereafter with no offers we will discuss your options.

For more information on pricing your home to sell, contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.

Ownership of land can be passed from one person to another in several ways. A landowner can be granted full ownership for a pre-determined period of time (e.g., his own or someone else™s lifetime); he/she can be given the land with certain conditions (e.g., no gambling can ever take place on the land, or, it must always be used for church purposes); or he/she can be granted full ownership for an indefinite amount of time, complete with the right to pass the land on to his/her heirs.

Ownership is evidenced through a document called a title, and for every piece of property there should be a consistent chain of title showing who owned the land at all times. Before your lender will extend credit for your mortgage, he/she is going to want to know the history of the title to your property. It may be that there are gaps in the chain – a period where no title seems to have existed for the land. If that™s the case, someone else could come along later, produce a valid title, and claim the land you now “own.” Or, there may be a condition on the land that makes it illegal for you to have your home there. Or, the property owner thirty years ago may have defaulted on his taxes so that the government really owns the land you™re trying to buy. Obviously, you, and your lender, need to know up front exactly what you™re getting when you buy this land – if you really can buy it.

To this end, once you have a loan commitment, your lender will order a title search from a title company. (The seller pays for the search in his/her closing costs.) The title company will research public records to trace the title back 40-60 years (considered the “root” of the title). If your title is marketable – it has no serious defects, doesn™t expose you as the buyer to the possibility of future litigation, and can be transferred at your discretion – the title company will produce a certificate of title which certifies the results of the search. This does not guarantee your ownership, however; problems could still surface later.

To protect yourself against past problems that may surface sometime in the future, you will purchase a title insurance policy at your closing. This policy will protect you from

• Defects that could be found in public records
• Forged documents
• Incompetent grantors (e.g., a past title wasn™t valid because the person who conveyed wasn™t legally competent to do so)
• Incorrect marital statements, and
• Improperly delivered deeds.

Title insurance does not protect you against defects that were known at the time of your purchase and were listed in the policy.

For more information on title insurance and buying your Fishers, Indiana home, contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com.