From Inside Indiana Business, 8/13/08

A new report from F.C. Tucker Company shows Madison and Boone counties posted increased home sales for July 2008. Madison County recorded an 11.8 percent jump, while Boone County sales increased six percent, compared to the same month last year. F.C. Tucker says overall home sales in Central Indiana's nine county area are down 8.9 percent compared to July 2007 and 13.1 percent year to date.

Housing inventory in central Indiana continued to drop in July with 19,335 homes on the market in the nine-county region, 1,534 fewer homes than in July 2007 – a 7.4 percent decrease overall in inventory. Madison County’s inventory led the monthly decline with a 12.4 percent decline. Marion County’s inventory also declined in double digits with a 10.7 decrease this month.

The nine-county average sales price was $146,572, overall 5 percent lower compared to the same time last year. However, two counties, Boone and Hamilton, are within one percent of the same average sales price as last year, and three other counties, Madison, Morgan and Shelby, are within two percent of the average sales price from the same time last year.

“While the central Indiana real estate market continues to stabilize and even improve in a couple of submarkets, home buyers are still in a good position to find an affordably priced house throughout the Indianapolis area,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “Sellers, too, should be encouraged by the fact that central Indiana homes are maintaining their value, and buyers are paying on average 95 percent of the sellers’ asking prices in central Indiana.”

Overall, home sales in the nine-county area are down 8.9 percent compared to July 2007, and 13.1 percent for the year to date.

Litten said, “The recent passage of the housing stimulus bill should help with our real estate market recovery and greatly benefit first-time home buyers with the $7,500 tax credit.”

The National Association of REALTORS® (NAR) predicts 2.5 million first-time buyers in the market because of the tax credit, which could increase home sales nationally by 7 percent.

View all Indianapolis Real Estate by Estridge

Below are homeowner comments on what they enjoy most about their new home:

The neighborhood plan to keep trees, pond (by pool), etc. lends a lot more to neighborhood than other Indiana home builders. Enjoyed ability to semi-customize it. Suzie at design center really made it a fun process.

- Whispering Pines Homeowner, Estridge Community in Avon 

The closing for your new home is a very exciting time! After watching your home take shape from your homesite to the home of your dreams, the closing is the last step before you can call your dream home your very own. In order for you to get the keys to your new home sooner, below are some tips for a smooth closing that we've learned over our years as an Indiana home builder.

Here are several tips to prepare for a smooth closing:

I received an email newsletter from Richmond American Homes that included the following article I want to share. If you are interested in building a new home, the following article has great tips for items to watch as you tour model homes of Indiana home builders as well. If you are looking into new construction and resale homes, these tips are truly helpful as you walk through any home and imagine living there.


Here are 6 specific items to keep your eyes on when walking through the model home

Quality. Model homes showcase the best a builder offers. Look for signs of how much care goes into structural features and energy-efficiencies. Open doors and cabinets. Check out wall structure and notice whether or not the corners are rounded. Ask about insulation, wiring, heating and air conditioning.

Flow & Livability. Look for a floorplan that will work for your lifestyle. Think about how your furniture will fit and how well the living spaces flow from one room into the next. Some floorplans can make everyday tasks easier, and it’s often the smallest details that make a difference. Is there a place to put your shoes? A coat closet? A conveniently located laundry room? All these factors can go a long way toward improving your quality of life in a home. (When you visit an Estridge model home, take home a large size floorplan and a furniture template. You can use the scaled furniture cut-outs to imagine exactly how you would arrange your furniture with the home design.)

Décor. Have you ever noticed that some homes have a “wow” factor, right from the moment you walk inside? Whether it’s a fabulous color scheme or an eye-catching use of fabrics and textures, a well-designed model home can make a striking impression. The good news? You can use that wow factor to your advantage. If you’re selling a home, it’s a perfect chance to pick up professional, creative concepts for staging, all without paying a dime! And if you’re not selling a house, what better place to get ideas on how to decorate your brand new home than in a beautiful model designed by experts? (Looking for tips on getting your home ready to sell? Visit the E-Lifestyle area on Estridge.com for monthly tips.)

Storage. It’s something many people forget to look for until they move in. Check out the size of closets, garage and basement options, and other storage areas. From high school memorabilia to fine china and your ice-cream maker, be sure there’s plenty of space to put all your stuff!

Kitchen. The kitchen is typically the most popular room in the home. Pay special attention to cabinets, pantries, lighting and countertop space. If you enjoy entertaining, is there room for guests to mingle? If you’re a chef, you may be more interested in a food preparation island, a double oven and a spacious pantry. Think about the design features you need today, as well as those you’ll want in the future.

Details, Details. From the overall cleanliness of the model to the scent that greets you when you walk inside (Estridge model homes will smell like freshly baked cookies, make sure to grab one or two after you walk through the home), small details can offer hints at how much pride a builder takes in their work. Sales and maintenance teams who take the time to ensure that a model’s light bulbs are working and the shutters are dusted are people who take pride in their product. This is a good indication they’ll pay attention to small details when it comes to your home too.


- Posted by Mary Catharine Grau, Director of Marketing, Estridge and HOMExperience