New Construction Knowledge 101 Tip # 5: Do You Need a Real Estate Agent?

Tuesday, August 31, 2010 by Real Estate News
Do You Need a Real Estate Agent to Help You Find and Buy a New Home?

It's a good question. So let's put things in perspective. Let's discuss Indianapolis. In Indianapolis, approximately 75,000 existing homes are sold each year. Almost all of these transactions involve real estate agents for both the buyer and the seller. This would mean there are 150,000 real estate agent "transactions" per year in Indianapolis on used/resale homes.

There are also about 15,000 new homes sold each year in the Indianapolis metro area, only about one in four of which have real estate agents involved in the transaction - and then usually only on one side of the transaction. This would equate to 3,750 real estate agent new home transactions per year. So, nearly 100% of used/resale homes sales are assisted by two real estate agents, while only 25% of new home transactions have real estate agents involved. Why the discrepancy?

There are several reasons. If you're a buyer looking for a used home, you generally need an agent to have access to all the homes which are listed. With new homes, builders have models and sales representatives onsite, which makes new homes more accessible. Secondly, in some cases, there is a tendency for real estate agents to prefer selling used homes, because the commission they earn is paid much quicker - usually in 30-45 days versus 120-150 days with new homes. Lastly, many real estate agents lack experience dealing with new home construction and therefore shy away from showing new homes. Some agents are afraid their buyers will ask homebuilding questions they won't be able to answer.

If you have interest in building a new home, as well as looking at used homes, you certainly want to enlist the services of an agent who has experience in selling new homes. This can be done simply by asking the agents you interview home many new homes they have sold in the last one or two years.   

This construction knowledge tip was taken from "Construction Knowledge 101: Everything you need to know about choosing a home builder and building your new home" by Charlie Scott. Request your copy today here.

Review Tip # 1 here, Tip # 2 here, Tip # 3 here or Tip # 4 here.

Learn more about Estridge, central Indiana's hometown homebuilder since 1967,
here.

Check back or become a 
friend of Estridge on Facebook for regular updates.

Estridge Neighborhood News for August!

Wednesday, August 25, 2010 by Estridge Events
Estridge Neighborhood News for August!

Curious about your Estridge neighborhood? Find updates here! And feel free to share this news with your neighbors in any of these wonderful Estridge neighborhoods:

Anderson Hall News!
Welcome new residents!
The Manor at Anderson Hall would like to welcome Jane Kinyua, along with Cory and Tammy Futa. The Orchards at Anderson Hall would like to welcome Jamie and Mary Ellen Stuber, Brian and Kara Wright and Bob and Angelica Louden. Welcome! Plus, between The Manor at Anderson Hall and The Orchard at Anderson Hall, there are currently 15 homes under construction! Questions about Anderson Hall? Call Tisha Hinshaw at 317.669.8624 or email hinshawt@estridge.net.


Bridgewater Parks News!
Bridgewater Parks is currently offering the Estridge Build Your Neighborhood Promotion. For more information on this promotion, call Jessica Paullus, New Home Consultant at Bridgewater Parks, at 317.669.8538, or email her at paullusj@estridge.net.
Welcome to the neighborhood! The first homeowners moved into the Irvington Ranch section in Bridgewater Parks at the end of July! There are 3 homesites still available in this exclusive section. Plus, Bridgewater Parks currently has 6 homes under construction, with 2 more getting underway in the near future. Stay tuned!
New pricing at Bridgewater Parks! Bridgewater Parks is offering new homesite pricing for specific homesites. For more information on the new homesite pricing, call Jessica Paullus, New Home Consultant at Bridgewater Parks, at 317.669.8538, or by emailing paullusj@estridge.net. Learn more about Bridgewater Parks here.

Grandin Hall News!
Last month we mentioned Grandin Hall in Carmel added Christina Templeton, New Home Consultant, to their team!
You can contact Christina by calling 317.669.8700, or by emailing templetonc@estridge.net. Grandin Hall is currently offering the Estridge Build Your Neighborhood Promotion! For more information on this promotion, call Christina Templeton at 317.669.8700, or by emailing templetonc@estridge.net.
West Carmel loves Grandin Hall! Grandin Hall is responsible for 38% of homes sold, both new and existing, in West Carmel starting at $600,000. And to add to our existing repertoire of custom homes, Grandin Hall has introduced plans in the $495,000 range. Find out what all the excitment is about! Call Christina Templeton, 317.669.8700, today!
Two Grandin Hall Homes Now Available! There is a New Home Available at Grandin Hall! With over 6,000 square feet, including 4 bedrooms, 5 bathrooms, a 3-car garage and 1 1/2 stories on a finished lower level with a fabulous Lanai, this home is offered at $729,000. Plus, the Grandin Hall MODEL HOME is now available! This stunning home offers 6 bedrooms, 6 bathrooms, a 4-car garage along with spectacular finishes plus 7,255 sqare feet and an outdoor Lanai. The Garndin Hall MODEL HOME is now offered at $898,000. Call Christina Templeton, 317.669.8700, for details! Learn more about Grandin Hall here.

Heritage Hill News!
Heritage Hill in Avon would like to welcome two new homeowners! 
Two new Estridge homeowners at Heritage Hill closed in the last month on homesite 8 and 16! Welcome!
Other Heritage Hill News: The Estridge Inventory Home on homesite 39 is almost complete! Check it out today!
“We just started framing a gorgeous ranch design on homesite 12,” Michelle Cannava, New Home Consultant at Heritage Hill, said. “It looks great, offering homeowners (and those thinking about building or buying a home) a chance to stop in and see this design transform into a home!” Learn more about Heritage Hill here.


Highland Green News!
Highland Green in Brownsburg is currently running a referral program where the customer will get a $500 gift card
at HOMExperience. Refer somebody today! This program will run through December 31. Learn more about HOMExperience here.
We mentioned last month Highland Green added Jeff Visscher as a New Home Consultant! You can contact Jeff Visscher by calling 317.669.8631 or by emailing visscherj@estridge.net.



Somerset Woods has five different designs currently in construction! Stop in to see these designs transform into homes! Contact Kelly Dillon, New Home Consultant at Somerset Woods, by calling 317.669.8624 or by emailing dillonk@estridge.net. Find more information on Somerset Woods here.


Whispering Pines in Avon is growing! This Estridge neighborhood currently has many homes under construction, including a new ranch design under construction at Whispering Pines homesite 111. Along with the new homes, new paved roads are now available for use at Whispering Pines! And their staff is growing. Whispering Pines would like to welcome Lauren Geisler, their new Sales Associate, along with Chase Miller, their new assistant builder! Questions about Whispering Pines in Avon? Contact Angela Line, New Home Consultant, by calling 317.669.8635 or by emailing linea@estridge.net. Learn more about Whispering Pines here.
 

Learn more about Estridge, central Indiana's hometown homebuilder since 1967, here. Check back here or become a friend of Estridge on Facebook for regular updates.
 

Indianapolis Rates Best In The North For Real Estate Investment - Reported by The Wall Street Journal

Monday, August 23, 2010 by Real Estate News

Real-Estate Investing: the Best and Worst Markets

By M.P. McQueen for The Wall Street Journal

Aug. 21, 2010- Looking to snap up some investment properties on the cheap? You may want to consider Durham, N.C., Indianapolis and Huntsville, Ala. They are among the best places to invest now, according to a new report that ranks the best and worst markets for conservative residential-real-estate investors. Hard-hit Las Vegas and Orlando, Fla., are among the riskiest.

Local Market Monitor Inc., a Cary, N.C., firm that analyzes real-estate trends for lenders, builders and investors, compiled its first Investor Suitability Report using economic data through July 31 for 315 U.S. markets. The firm is best known for its housing-market forecasts, which use "equilibrium" home prices: what home values should be in relation to incomes, job growth and population. In its new report, it uses similar data to rank communities by their investment prospects, focusing on single-family homes.

[REINVEST]

Regions that rank highly for investment suitability are those where there is a low probability that home prices will fall further, says Local Market Monitor President Ingo Winzer. They are places where income is growing moderately; where employment is relatively stable because of a large percentage of jobs in health care, education or government; and where a relatively small share of jobs is in construction or financial services, which have been volatile. (Job losses in government and education tend to come later in an economic cycle, so some areas could be hit harder in coming months.)

The report, which excludes towns with fewer than 200,000 residents, focuses on price-appreciation potential instead of rental income, since falling home prices usually result in higher vacancy rates in apartment buildings and lower rents overall, Mr. Winzer says.

Good markets for conservative investors are those that already have stabilized and should yield average returns, Mr. Winzer says. Dangerous markets probably will see further price declines and have little potential for a turnaround because of poor local economies.

So-called speculative markets, by contrast, are those where prices could fall further, but which also have potential for greater appreciation of 3% to 5% annually after bottoming out—making them more suitable for investors with stronger stomachs. Local Market Monitor identifies Hagerstown, Md.; Jacksonville and Port St. Lucie, Fla.; Modesto, Calif.; and Myrtle Beach, S.C. as speculative areas.

In the best markets, home prices already are stabilizing. Durham, N.C., for instance, is home to Duke University and is near the University of North Carolina-Chapel Hill. Big companies like International Business Machines Corp., GlaxoSmithKline PLC and Nortel Networks Corp., as well as numerous biotech start-ups, have facilities at the nearby Research Triangle Corporate Park. About 40% of area jobs are in health, education or government, according to Local Market Monitor.

Haywood Davis, owner of a Century 21 real-estate brokerage in Durham, says home-sales volume in the area increased 13% last month over July 2009, though prices rose only slightly.

Some other metro areas with large percentages of relatively stable jobs and moderate growth include Knoxville, Tenn.; Lexington, Ky.; and Indianapolis.

Jason Moore, a 34-year-old auto-sales manager in Baltimore, took advantage of plunging home prices in his hometown of Indianapolis to snap up an investment property there—a brand-new four-bedroom, two-bath home—for $56,000 late in 2008.

Prices in Indianapolis were falling because of foreclosures and rising unemployment. Disappointed with their stock-market investments, Mr. Moore and his wife, Keisha, 32, decided to buy an investment property to add to their portfolio. The Indiana house is generating a positive cash flow of about $300 a month in rent after mortgage, insurance, taxes and fees, he says.

"It has been adding income, and the tax benefit has been helpful," Mr. Moore says. Read the entire article here

Learn more about Estridge, the hometown homebuilder since 1967, here.

New Construction Knowledge 101 Tip # 4: Finding the Best Builder

Monday, August 16, 2010 by Real Estate News
Finding the Best Builder; Tip # 4
When it's time to decide where your home will be built, you need to start asking yourself questions. What needs do you have? What amenities do you want close to home? What are the schools like? The answers can be found at your local builders association, with real estate professionals, at the chamber of commerce or the local library. Once you decided on the area, it's time to get specific and start looking at builders. How do you find the best builders in your area? Here a few tips:
  • Check the real estate section of your newspaper to see where homes are going up and the builders building them.
  • Check the resale homes in the newspaper. Look at these ads and see if they list the builder; if a builder's name is showing up over and over in resale ads, it means they probably have a reputation for building excellent homes.
  • Walk through new home construction areas and look for the builders.
  • Talk with a real estate professional about the builders they are familiar with or those they have worked with.
  • Call the local builders association and ask many questions.
  • Search the web, but focus your search outside the builder's website.
  • Knock on a few doors. You'll get no better input on a builder than from actual homeowners.

The time spent doing research in the beginning will assure you find the best builder and the highest quality home possible!

This construction knowledge tip was taken from "Construction Knowledge 101: Everything you need to know about choosing a home builder and building your new home" by Charlie Scott. Request your copy today here.

Review Tip # 1 here, Tip # 2 here or Tip # 3 here.

Learn more about Estridge, central Indiana's hometown homebuilder since 1967, here.

Check back or become a 
friend of Estridge on Facebook for regular updates.

NAHB International Builders’ Show Welcomes Attendees with Discounted Registration Through Aug. 31

Wednesday, August 11, 2010 by Real Estate News
NAHB International Builders’ Show Welcomes Attendees with Discounted Registration Through Aug. 31

August 2, 2010 - The National Association of Home Builders (NAHB) today officially opened online registration for the NAHB International Builders' Show (IBS), the largest annual light construction tradeshow in the world. Considered a must-attend industry event, the 2011 show, to be held in Orlando, Fla., Jan. 12-15, features attractive deals on registration fees and education sessions for members who register now.

"The NAHB International Builders' Show is the event of the year for our industry, with its unmatched networking opportunities, education sessions, product showcase and special events attracting tens of thousands of professionals from around the globe," said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich. "With multiple discounts and incentives making attending even more affordable, this year's show is certainly one not to miss."

Attendees can choose from more than 175 education sessions offered on a wide variety of topics, including building trends, sales and marketing techniques, green building and the economic outlook. Several pre-show education courses are also available to attendees looking to complete training and earn industry designations such as Certified Aging-in-Place Specialist and Certified Green Professional, among others.

One of the biggest draws of the show is the expansive tradeshow floor exhibition. More than 1,000 exhibitors covering 500,000 square feet of exhibit space will be displaying the latest building products and services at the 2011 Show. Attendees will be able to network and make business deals with top vendors representing more than 250 product categories. Read the entire news release from NAHB here.

Learn more about Estridge, central Indiana's hometown homebuilder since 1967, here.

Estridge Moves Forward With $1.2 Billion TND - Reported by BuilderOnline.com

Thursday, July 29, 2010 by Real Estate News

Check out BuilderOnline's take on Symphony, one of the largest developments ever in Indiana, an Estridge project currently in the zoning phase with the city of Westfield, Ind. Read a portion below, or the entire article here.

Estridge Moves Forward With $1.2 Billion TND; With 1,400 acres and more than 3,800 homes, Symphony is one of the largest developments ever in Indiana. - Alison Rice

July 22, 2010 - The housing downturn hasn’t curtailed the Estridge Company’s ambitions. This fall, the Carmel, Ind.,-based company plans to start breaking ground for Symphony, a traditional neighborhood development (TND) north of Indianapolis. At 1,400 acres and 3,860 homes, it will be one of the largest new-home developments ever in Indiana.

But Symphony will be notable for more than its significant size. Composed of a handful of “villages” linked by trails and roads, the $1.2 billion project in Westfield, Ind., will offer buyers and residents the chance to live in a community designed to bring together multiple generations: singles seeking urban density in suburban locations, sports-crazed families with minivans and soccer cleats; and aging seniors in need of continuing care.

“We want to model what new neighborhoods should be,” says Paul Estridge Jr., president of the Estridge Company.

Symphony seeks to accomplish that through an “intergenerational approach” that mixes housing types and prices across the development, rather than the customary “silo-ing” in many new-home developments, where the product offered only appeals to one market segment. Under that model, when housing needs change, buyers must move elsewhere, no matter how much they might love their community.

In the works since 2002, Symphony’s plans have evolved during the downturn. “It’s a blessing, because if we hadn’t have done this during a recession, we would have done [Symphony] on a quicker time frame,” Estridge says. “We would have missed the realization that we needed to be on a different track than we were on.”

“That’s the lesson of the recession,” says Brian Canin of Orlando, Fla., planning firm Canin Associates, which designed Symphony. “Before the recession, you could say, ‘I have the luxury of targeting just the $500,000 to $2 million market. Now we have to cater to the very broad spectrum of everyone who needs a house and put the money where it really works.” Read Alison Rice's entire article via BuilderOnline here.

Learn more about Estridge, central Indiana's premiere homebuilder since 1967, here.

HomeLife's Helpful Homeowner Hint: Stay Cool This Summer Central Indiana

Tuesday, July 20, 2010 by E- Lifestyle

HomeLife's Helpful Homeowner Hint: Stay Cool This Summer Central Indiana
-From Estridge's HomeLife Team

Summers can be long and hot, particularly if you are losing money on your home's utility bill. According to the U.S. Department of Energy, 43% of any homeowner’s utility bill goes towards heating or cooling. In the July HomeLife's Helpful Homeowner Hint, we share ways you can save money through your cooling bill. 

  • Seal Those Leaks That Leak Money. Check around chimneys, windows, doors, furnace and water flues and electrical outlets. Caulk or weather stripping offer great solutions for windows and doors. Try foam sealant on those larger spaces.
  • Insulate Your Wallet and Air Ducts. Every homeowner should consider insulating their air duct work to cover leaks and to save a heavy burden upon their wallet.
  • Become a Fan Fanatic. Be sure you turn off bathroom or kitchen exhaust fans within 20 minutes after you are done bathing or cooking. If you are considering replacing an exhaust fan, be sure you look at high-efficiency models.
  • Program and Pocket the Savings. A properly installed programmable thermostat can save money through controlling your environment. Simply turn back the thermostat by 15% for at least eight hours and pocket the savings.
  • Save Bucks with Better Blinds. Keep the summer heat out of your home with shades or drapes.
  • Fiscal Filter Fun. Be sure you change or clean your home's filters once a month.
  • Energy Efficient Effects. Try to select energy-efficient products when you buy new cooling equipment. Ask for the energy facts sheets for different designs or models, and try to compare potential usage.
  • Stop The Santa Claus Effect. Has your chimney fallen into disuse? Can you feel a draft from your chimney? Try purchasing an inflatable chimney balloon to stop the Santa Claus Effect.

Did you miss last month's hint?
Read the June HomeLife's Helpful Homeowner Hint here.

Find more information on Estridge's HomeLife Maintenance & Reliability Program, a three-year inspection program designed to identify a check-list of items requiring maintenance, touch-up and repair here.

Estridge is central Indiana's hometown builder of premiere homes and neighborhoods, since 1967. Find more information on Estridge here
.

 

Fishers ranks 8th in Money's Best Places to Live - Reported by IndyStar.com

Tuesday, July 13, 2010 by Homeowner Testimonials

In this report from IndyStar.com, the Indianapolis suburb of Fishers has been named to Money magazine's list of best places to live. This Hamilton County Town, which includes the Estridge neighborhoods of Anderson Hall (picture) and Somerset Woods, came in eight on this year's list, good news for homeowners looking to build or buy a home in Fishers.

Fishers ranks 8th in Money's Best Places to Live
- Reported by IndyStar.com

July 12, 2010 - Indianapolis' suburb Fishers has been named a second time in the top 10 on Money magazine's list of Best Places to Live.

The Hamilton County town of 69,000 residents came in eighth on this year's list, after being 10th in 2008. The latest list is published in the August issue.

"This Indiana town offers a winning combination of low-cost houses (you can snag a three-bedroom for less than $150,000), easy access to the big city, and good schools," said the magazine's website. "Plus, Fishers is booming. Development abounds and fully 1,600 jobs were created here last year; major employers include Sallie Mae and medical device firm Roche Diagnostics."

The magazine ranked 746 towns with populations between 50,000 and 300,000, narrowing the list based on criteria such as housing prices, schools, safety,
health care and diversity. Economic factors, the website said, carried the most sway.

 

The town's unemployment rate was put at 6.2 percent by the magazine, far below the state and national averages. And Fishers' job growth rate during the past decade, at nearly 41 percent, outpaced the "Best Places" average of 15.71 percent.

"Whether it's as a homeowner or a business, it's a safe place to invest," Fishers town council president Scott Faultless said.

Faultless credited Fishers' economic resilience to a combination of public safety, schools, parks and low
taxes.

Fishers also has recently appeared on America's 25 Best Places to Move rankings by Forbes magazine in 2009 and the Best Affordable Suburbs in America list in BusinessWeek magazine in 2010.

"To me, it's a pretty good indicator that the core fundamentals are there for our community," Faultless said. Read the full article from IndyStar.com
here.

Learn more about Estridge, central Indiana's premiere builder of custom homes since 1967, here.

New Home Construction Knowledge 101, Tip # 3: Choosing the Correct Builder in Central Indiana is Crucial

Tuesday, June 29, 2010 by E- Lifestyle
The question seems simple: "How do I choose the right homebuilder for my family?"

Looking for a new home builder in Indianapolis, or any other area in central Indiana, presents serious challenges. But finding the correct builder for your family's largest investment is crucial. The first step is to determine what kind of builder you want building your home. There are three main categories of residential homebuilders:
  • Custom Builders
  • Production Builders
  • Semi-custom Builders
     
Custom builders build one-of-a-kind homes, truly personalized to your needs and tastes. In contrast to custom builders, production builders work with home styles and floor plans designed to appeal to a broad range of homeowners and lifestyles. Semi-custom builders offer a fairly wide selection of floor plans, and are typically flexible in the amount and type of customization allowed.

A potential homebuyer in central Indiana looking to build a home should consider a number of factors. First, prioritize your needs, desires, budget and timeframe. Are you looking to build in Avon? In Fishers? Central Indiana, and Estridge, offer many choices of great communities. View Estridge neighborhoods and communities here. Do you need five bedrooms or four? Do you want to be on a golf course? What is your target price range? Will you need a luxury home builder? Do you want a custom home? Take the time to investigate many different builders and carefully compare the pros and cons of each. Solicit the opinions of central Indiana real estate professionals, current homeowners and other individuals familiar with the reputation of the homebuilder.

Perhaps the most important thing to consider is to what degree of control the builder maintains over it's worksites. What is their quality control system? Is there always someone supervising the site, there at the site? Is the contracted and subcontracted work inspected before the next step in the building process? Do they have a master schedule? Good, professional builders have these systems in place to ensure their reputations and future homeowner satisfaction. Remember: the builder you choose has the ultimate responsibility for the quality of your new home. But it's your responsibility to choose a quality builder.    

Review Tip # 1 here, or Tip # 2 here.

This construction knowledge tip was taken from "Construction Knowledge 101: Everything you need to know about choosing a home builder and building your new home" by Charlie Scott. Request your copy today here.

Learn more about Estridge, central Indiana's hometown builder of premiere new homes and neighborhoods, here.

Check back or become a 
friend of Estridge on Facebook
for regular updates.

Subcontractors come to Estridge's aid with $10M investment - Reported by IBJ.com; June 26, 2010

Tuesday, June 29, 2010 by Real Estate News

In this article from IBJ.com, Scott Olsen reports Estridge Cos. received an infusion of capital, $10M to be exact, which is unusual on two fronts: one, the ability for a homebuilder to raise capital in these tough economic times and two, the source of the investment: Estridge subcontractors.  

Subcontractors come to Estridge's aid with $10M investment - Reported by Scott Olsen for IBJ.com

June 26, 2010 - One of the Indianapolis area’s most formidable homebuilders has received a $10 million investment to help it weather the severe housing downturn.

The infusion into The Estridge Cos. is unusual on two fronts. Few companies in the out-of-favor homebuilding industry are able to raise capital these days. And the source of the Estridge funds wasn’t traditional investors—it was subcontractors that have a long-standing relationship with the custom builder.

[Matt Cohoat, Estridge chief operating officer, left, and CEO Paul Estridge Jr. are planning the Symphony project, which already features the Wood Wind Golf Club. (IBJ Photo/ Perry Reichanadter)]

Owner Paul Estridge, 52, said the company is in no danger of becoming the latest casualty of the meltdown. Yet he acknowledged the difficulties of securing traditional bank financing at a time many have restricted lending.

“How are you going to raise capital?” he asked. “We’re not a public company; the banks are shut down. What do you do? You go to the people you’ve done business with.”

About 25 investors agreed to chip in from $25,000 to $500,000 in exchange for ownership stakes. Collectively, the subcontractors will own 35 percent of the company.

Estridge, the area’s largest custom builder based on homes constructed, expects to build 250 homes this year ranging in price from $300,000 to more than $1 million.

The launch of its most ambitious project, the proposed
Symphony development in Westfield, hinged on the investment, Estridge said.

The public got its chance June 21 to weigh in on the builder’s plans for the nearly $1 billion mixed-use development, which could include a 5,000-seat multipurpose stadium, as well as 3,000 homes, condominiums and apartments. The builder is asking the city to put $70 million into the project to fund roads and sewers, as well as the stadium.


(CONTINUED: "Chris Kaiser, general manager of the locally owned T.A. Kaiser Heating & Air Inc., said jumping aboard was an easy decision. 'Paul’s a man of his word,' he said. 'I don’t think I would do this with anyone but Estridge. I would do it 100 times.'") Read more of Scott Olsen's article here.

Learn more about Estridge, central Indiana's hometown builder of premiere homes and neighborhoods since 1967, here.

Be sure to check back or become a
FAN of Estridge on Facebook for regular updates.

Grand Opening Event! New Estridge Model Home in Avon at Heritage Hill

Thursday, June 10, 2010 by Estridge Events
Grand Opening at Heritage Hill in AvonHeritage Hill New Home Neighborhood in Avon

We are proud to announce a brand-new decorated model home at Heritage Hill in Avon! Model open daily. Join us for the special Grand Opening Event Saturday, June 26th from 1pm to 5pm. Tour the club house, pools, 24-hour fitness center and decorated Estridge model. Plus enjoy food, drinks and sign up to win prizes up to $250!

This new Estridge home in Avon is a must visit for all! VIEW PHOTO TOUR

Plus, the Estridge Heritage Hill Collection features fantastic 2-story homes with open, family-centered designs and, of course, the custom-like detail people love and expect from Estridge, the premiere builder of custom homes in central Indiana, since 1967.

Stop by Mon-Sat, 11am to 6pm, Sun 12pm to 6pm.

Learn more about building with Estridge at Heritage Hill by visiting the Heritage Hill model! Or contact Michelle Cannava at 317.669.8610 or cannavam@estridge.net.

 

HomeLife's Helpful Indiana Homeowner Hints for June: Lighting Protection

Thursday, June 3, 2010 by E- Lifestyle



HomeLife's Helpful Homeowner Hints for June

Spring and summer present a danger to central Indiana homeowners that often goes overlooked: lightning strikes. Lightning protection systems, or grounding systems, provide direct paths to the ground to help avoid fire and other damage caused by lightning. HomeLife's Helpful Homeowner Hints for May will help you prepare your home for potentially damaging spring weather:

  • If lightning is nearby, avoid open areas like fields, isolated trees, water and high ground.
  • During a storm, avoid using your home's telephone, unless there's an emergency.
  • Consider purchasing a Surge Protector Device (SPD), which diverts any electrical surge to the ground surrounding your home.
  • Be sure your surge protector is UL Standard 1449.
  • Make sure your protector will protect ALL of the equipment in your home it's meant to protect.
  • Don't forget other utility lines leading to your home, such as phone lines or coaxial cable lines for your TV cable or satellite, need to be included in protection.
  • Buy a SPD with a warning alarm or light that indicates when it needs to be replaced.
  • Look for a SPD with a manufacturer's warranty.
  • Invest in an Arc Fault Circuit Interrupter (AFCI) which can detect dangerous arching conditions that could occur in your home's fuse box during a lightning storm. 

Estridge is Indianapolis' hometown builder of premiere homes and neighborhoods. For more information on Estridge, click here.
 
For more information on Estridge's HomeLife Maintenance & Reliability Program, a three-year inspection program designed to identify a check-list of items requiring maintenance, touch-up and repair, click here.

Housing Stays Highly Affordable For Fifth Consecutive Quarter - National Association of Home Builders

Thursday, June 3, 2010 by Real Estate News

Find your new Estridge HomeIn this report from the National Association of Home Builders, favorable market conditions have led to the highest level of affordability for potential homeowners in nearly two decades. In fact, the Indianapolis and Carmel market shared the top spot as the most affordable major housing market in the country, good news for Central Indiana homeowners.

Housing Stays Highly Affordable For Fifth Consecutive Quarter - National Association of Home Builders

May 20, 2010 - Nationwide housing, bolstered by favorable interest rates and low house prices, hovered for the fifth consecutive quarter near its highest level of affordability since the series was first compiled 19 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) released today.

 

The HOI showed that 72.2 percent of all new and existing homes sold in the first quarter of 2010 were affordable to families earning the national median income of $63,800, slightly higher than the previous quarter and near the record-high 72.5 percent set during the first quarter a year ago.

 

“Today’s report is very encouraging because it indicates that homeownership continues its more than year-long trend of remaining within reach of more households than it has for almost two decades,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich. “With interest rates still hovering at low levels, companies starting to hire new employees and the economy beginning to rebound, this should encourage more home buyers to enter the market and help further stabilize housing and the economy.”

 

Indianapolis-Carmel and Youngstown-Warren-Boardman, Ohio-Pa., shared the ranking as the most affordable major housing markets in the country. In Indianapolis, which has held this top ranking for nearly five years, almost 95 percent of all homes sold were affordable to households earning the area’s median family income of $68,700. In Youngstown, the same percentage of homes were affordable to households earning a median $53,500.

 

Also near the top of the list of the most affordable major metro housing markets were Syracuse, N.Y.; Dayton, Ohio; and Grand Rapids-Wyoming, Mich.

 

Five smaller housing markets posted even higher affordability scores than Indianapolis and Youngstown. Among them, Bay City, Mich., where 98.7 percent of homes sold during the first quarter of 2010 were affordable to median-income earners, was the most affordable market in the country. Other smaller housing markets near the top of the index included Kokomo, Ind.; Davenport-Moline-Rock Island, Iowa-Ill.; Sandusky, Ohio; and Elkhart-Goshen, Ind., respectively. Read the entire report from the NAHB here.

Estridge is Indianapolis' hometown builder of homes and neighborhoods. Learn more about Estridge here.


Region posts April jump of 25% in existing home sales - reported by The Indianapolis Star

Tuesday, May 25, 2010 by Real Estate News

Region posts April jump of 25% in existing home sales - reported by The Indianapolis Star on May 25, 2010

Existing home sales in the Indianapolis area continued an upward trend, rising 25 percent in April.

Statewide sales also rose 28 percent in April compared with last year, said the Indiana Association of Realtors, which released the sale numbers Monday afternoon. Median prices saw an increase of 13.7 percent.

This is the seventh consecutive month that there has been an increase in median prices over the previous year.

“April showed continuation of an expected spring surge due to the federal tax credit,” said Karl Berron, chief executive officer, in a statement. “While the increase in sales is positive, the best news is that inventory is trending down and there seems to be a broad stabilization in home prices, demonstrating that the tax credit did its job to preserve housing wealth."

In the eight-county metro area, 2,140 homes were sold in April, compared with 1,711 in the same month last year...

Read the entire Indianapolis Star article here.

Learn more about Estridge, the premiere builder of custom homes in central Indiana, since 1967, here.

New Estridge Decorated Model NOW OPEN at Heritage Hill in Avon!

Tuesday, May 18, 2010 by estridge homes

New Estridge Model Home NOW OPEN at Heritage Hill in Avon!

We are proud to announce the opening of a brand-new decorated model home at Heritage Hill in Avon! The Hovingham design, one of the newest Estridge home designs by Greg Cradick, AIA, offers homeowners a flexible, open design with distinctive, elegant features, such as the free-standing stone candle wall greeting guests upon entry and providing a cozy fireplace in the great room.  A stunning kitchen creates interaction between living spaces with the sink located on the breakfast bar island and facing the great room. 10' ceilings, thoughtful window placement and the open design add flow and natural light throughout the main level. Visitors will also take note of the spacious lower level ready for entertaining with a built-in bar and look-out windows. A generous 4-car garage provides great space for all vehicles, a workshop and more, plus flexibility to personalize with a main level guest suite.

This new Estridge home in Avon is a must visit for all! VIEW PHOTO TOUR

Stop by Mon-Sat, 11am to 6pm, Sun 12pm to 6pm or SIGN UP to receive an invitation to the special grand opening event, June 19th, by emailing marketing@estridge.net.




"With incredible natural amenities - walking and hiking trails, butterfly meadows, mature woods, picnic areas and much more, Heritage Hill offers Hendricks County homeowners a peaceful setting combined with a great location in Avon," said Michelle Canava, Estridge New Home Consultant at Heritage Hill. "Five homeowners are already building their new Estridge homes here - all have mentioned they love the personal choice and custom experience of building with Estridge without the custom price."

Here are a few highlights of Estridge's new neighborhood, Heritage Hill in Hendricks County: 

  • Gorgeous natural setting designed specifically for nature lovers.
  • Stunning, oversized, tree-lined homesites.
  • Great location near central Indiana's finest shopping, dining and entertainment.
  • New Estridge Homes priced from $300,000 to $450,000.

Estridge is central Indiana's hometown builder of premiere homes and neighborhoods. For more information on Heritage Hills, the newest neighborhood from Estridge, click here.

Tax credits help boost April home sales in central Indiana - reported by the IBJ

Thursday, May 13, 2010 by Real Estate News
Tax credits help boost April home sales in central Indiana
By IBJ Staff on May 10, 2010

Home-sale agreements surged 33.8 percent in the Indianapolis area in April as buyers rushed to beat the deadline for sizable federal tax incentives.

More than 3,050 home-sale agreements were reached in the nine-county area in April compared to 2,286 in April 2009, according to a report released Monday by F.C. Tucker Co. All nine counties experienced an increase in pending sales.

April 30 was the deadline to sign a contract and qualify for the federal tax credit of up to $8,000 for first-time homebuyers and $6,500 for some repeat buyers. The deals must close by June 30.

Pending homes sales were up nearly 32 percent in Marion County, from 1,080 to 1,422. They rose 33 percent in Hamilton County...

Read the entire IBJ article here.

Learn more about Estridge, the premiere builder of custom homes in central Indiana since 1967, here.

30-Year Mortgage Rate Falls Slightly From Previous Year - reported by CNBC

Thursday, April 29, 2010 by Real Estate News

New Home Mortgage Rates30-Year Mortgage Rate Falls Slightly From Previous Year
By Rueters via CNBC on April 29, 2010

U.S. mortgage rates dipped in the latest week, a closely watched mortgage survey showed Thursday, with rates remaining at historically low levels that should bode well for the hard-hit housing market.

Lower interest rates on mortgages may buoy home loan refinancing activity, putting more cash into consumers' hands to funnel into the U.S. economy.

It also makes homes more affordable during the most important period, the spring selling season...

The federal government's $8,000 first-time home buyer tax credit and a $6,500 credit for home owners buying a new residence will soon expire. Eligible borrowers must sign contracts by April 30 and close loans by June 30.

Jim Gillespie, president and CEO of Coldwell Banker in Parsippany, New Jersey, said this has helped boost demand.

"The federal tax credits certainly helped the economy and the housing market overall," he said...

Read the entire article here.

Learn more about Estridge, the premiere builder of Central Indiana custom homes since 1967, here.

The New Ameritage Collection - Estridge Homes from $199,900

Tuesday, April 20, 2010 by estridge homes

On Monday March 15th, a pilot release of the new Ameritage Collection of homes was introduced to central Indiana homeowners. This new Collection by Estridge, Indianapolis home builder, features homes designed for the way homeowners live today with the flexibility to change and grow with their evolving lifestyle.

The HARRISON new home design is built from $199,900.

The COLVIN new home design is built from $219,600. 

The ROBERTSON new home design is built from $209,900.


The Colvin Home by Estridge The Harrison Home Design  The Robertson Home Design by Estridge

The Ameritage Collection offers Estridge quality construction married with personalization and affordability, with homes starting at $199,900 in Estridge Brownsburg neighborhoods.  Plus, Estridge quality construction practices, combined with the 3-year HomeLife Maintenance and Reliability Program, produce safe, sound and reliable homes. 

 

Each Ameritage Collection new home offers the 21st Century Lifestyle Living Triangle creating circulation between the great room, harvest room and kitchen and creating natural flow and family connectivity. And that’s only the main level. On the upper level, homeowners will find central landing areas which create larger bedrooms and a connection of bedrooms like those found in historic Indianapolis homes. 

Robertson Home Design
 

The customization doesn’t end with the home footprint: homeowners love the jumbo garages! Each home includes a jumbo garage with the square feet of a 3-car garage, offering storage space for lifestyle, as well as cars, with variations and options such as increasing the depth of the garage, adding a third bay, or creating a side-entry. 
 

Ameritage Collection designs each present a “kit of parts” with structural and feature details allowing truly personalized flex spaces, garages, interiors and home exteriors. Homeowners can personalize the Ameritage Collection traditional exteriors with many features, such as dentil molding, varied window trim and roof dormers, so your home mirrors your personal style.

The Ameritage Collection is available to build in select Estridge new home neighborhoods:


Whispering Pines
in Avon (317.669.8635),

Hession Fields(317.669.8627) and Highland Green (317.669.8631) in Brownsburg

Edenwilde (317.669.8633) in Indianapolis. 

Visit any of these selected Estridge neighborhoods to learn more and build your new Indianapolis home with special pilot release pricing. Or call 317.669.8619 to Ask Angie about building a new Ameritage Collection home.

A busy time of year in Estridge neighborhoods around Indianapolis!

Tuesday, March 30, 2010 by Estridge Events

McFarland Family Home Under ConstructionSpring is a very busy time of year for real estate professionals and new home builders around Indianapolis. Many homeowners take advantage of the warm weather to tour new home neighborhoods, look at real estate, and put their home up for sale. Beginning to build a new Estridge home is also popular in the spring, with the five month construction process completing in time for the start of the following school year.

With the Federal Home Buyer Tax Credit, Spring 2010 has proven to be even busier for many Indianapolis real estate professionals.

It's no different for all of us here at Estridge.

There are 121 new Estridge homes under construction!

  • 21 Homes in the ‘pre-construction’ stage
  • 12 Homes in Basement Foundation
  • 24 Homes currently in Framing or will begin Framing in the next week
  • 17 Homes in Mechanicals (Plumbing, Electrical and/or HVAC)
  • 16 Homes in Drywall
  • 11 Homes in Trim
  • 5 Homes in Flooring
  • 7 Homes in Finishes (Plumbing, Electrical and/or HVAC)
  • 3 Homes completed and scheduled to close with their new homeowner
  • 5 Homes completed and ready for a new Estridge homeowner


Construction on the Estridge Extreme Makeover Build in Spring 2009

Think Spring is  a good time for you to begin your new Estridge home? 

Contact Angie, your Estridge Online Concierge, today to learn more about building a new Estridge home in central Indiana.

Introducing the Harrison – new 2-story Estridge home design in the Ameritage Collection

Tuesday, March 30, 2010 by estridge homes

Selected Estridge neighborhoods in Avon, Brownsburg and Franklin Township recently introduced a pilot release of the Ameritage Collection by Estridge. The Ameritage Collection features homes designed for the way you truly want to live today with the flexibility change with your changing lifestyle. Featuring jumbo garages, flex spaces, full lower levels and open living areas, this Collection of homes offers incredible opportunities to build a new home with prices from $199,900.

 

The Harrison, a 2-story Ameritage home by Estridge, Indianapolis's premiere new home builder, was introduced at Hession Fields in Brownsburg and Edenwilde in Franklin Township on Monday, March 29th.

Harrison - Timeless Elevation AHarrison Elevation B

Visit Edenwilde in Franklin Township and build your Harrison home from $199,900.
Visit Hession Fields in Brownsburg and build your Harrison home from $199,900.

 

This unique new home design from Estridge, your premiere Indianapolis new home builder features Georgian style home exteriors:

 

-          True period architecture with a gable roof and symmetrical design

-          Classical exteriors with transom window framing front door, surrounding entry lights, detailed door surround and more

 

With a new home design created for the way we live today:

 

Entry Areas:

-          Flex space off of front door

-          Separate family foyer keeps clutter out of the living areas

-          Sight line from entry to back wall enhances the open, spacious feel

 

Central Living Areas:

-          Open living area with 21st Century Lifestyle Living Area – connection between harvest room, family room, and kitchen

-          Transom windows provide sunlight to family room and provide definition while allowing for functional furniture placement

-          Kitchen sink on breakfast bar island encourages interaction between spaces

-          Walk-in pantry offers generous, hidden kitchen storage

-          Spacious harvest room allows for dining furniture placement and multiple uses

-          Inclusion of hearth room and family room allows homeowners to stay connected while participating in varying activities

 

Upper Level:

-          Upper level landing area eliminates the need for hallway circulation and creates generously sized bedrooms

-          Walk-in closets in three bedrooms

-          Spacious master suite with three generous windows

-          Convenient hall linen closet

 

Generous Storage Space:

-          Open lower level with space for multiple functions

-          Jumbo garage features 2-car doors with 3-car square footage offers great storage! Create more space by personalizing up to a 4-car side-load garage!

Generous Lower Levels in the new home design by Indianapolis new home builder, Estridge

 

Interested in learning more about this home?

View the Harrison new home design.

 

Contact Angie, your Estridge Online Concierge, for more information.
Visit Edenwilde in Franklin Township and build your Harrison home from $199,900.
Visit Hession Fields in Brownsburg and build your Harrison home from $199,900.