So, why is  Fully Furnished & Finished a pilot release until January 10^th?

As an Indianapolis new home builder, and like many other organizations, we are constantly looking to better serve our homeowners and build them the home of their dreams. Our home décor store at Clay Terrace in Carmel, HOMExperience, provides us with the unique opportunity of working with homeowners throughout the full home design process - not only building their new luxury home, but furnishing it as well. This relationship presented us with a disconnect which some homeowners feel between the home they imagine themselves living in and the empty one they move in to.

We believe that we can better serve clients by providing them with a fully furnished new Estridge luxury home when they move in. But, we want to know what you think and what our homeowners think. This short pilot release allows us to get feedback from the greater Indianapolis real estate market to see how Fully Furnished homes better serves our homeowners needs. So, we invite everyone to join the conversation.

Visit www.fully.estridge.com to learn more, share your thoughts and provide feedback on how we can better serve our homeowners.
 

On Wednesday November 18, we introduced a pilot release of Fully Furnished & Finished to our friends and partners in the Indianapolis real estate market.

Until January 10th, Indianapolis homeowners will build their new home by Estridge, Indianapolis's hometown builder of premiere homes and neighborhoods, not only personalizing with the perfect countertops, cabinets and fixtures, but also fully furnishing it with the perfect furniture for the new home design, style and life. Homeowners will work with our HOMExperience design team, who have designed and decorated our model homes for over 12 years, will work with them to custom furnish and finish your home as they’ve always imagined.

Watch the Introduction of Fully Furnished & Finished from Paul Estridge, Jr.

 

The popular $8,000 first time buyer housing tax credit (passed by House and Senate and on its way to President Obama) proved a powerful motivator in the housing market.

However, the expansion of this housing tax credit currently on its way to approval to include a credit of $6,500 for repeat buyers provides even greater opportunity for the Indianapolis real estate market.

While the original $8,000 housing credit provided its primary benefit to first time buyers, it offered generous auxiliary benefits for repeat buyers. Second-time home buyers benefited from the incentive of the tax credit as an influencer for the purchase of their first home. The $6,500 tax credit provides that primary benefit of a home buyer tax credit, as well as the opportunity for all repeat home buyers, not only those currently in a home appealing to first time buyers. This expansion is likely to be a much greater catalyst for the real estate industry and ultimately more beneficial for new home builders, real estate professionals and homeowners.

Learn more at Builder Online.

Follow @EstridgeHomes on Twitter for more updates.

In the past few years, it has become difficult hard to weed fact from fiction when looking for information on whether or not it’s a good time to buy a new home. The media spotlight has provided us with an incredible amount of information, but how much is really relevant to the Indianapolis real estate market and Indianapolis home buyers?

Real Estate markets are local - local by state, city, even neighborhood or street. Indianapolis was named #8 of America’s healthiest housing market in 2009 by Forbes. There are a number of reasons why now is a great time to buy a new home in Indianapolis and why Estridge is confident in our real estate market.

1. Estridge housing permits are up.

Estridge housing permits increased 54.9% year to date from 2008 to 2009, due to a combination of factors:

1.)   Homeowners are confident that now is the time to move.

2.)   Estridge is confident that the Indianapolis real estate market is strong and needs new homes available for those that need to move quickly.

2. Interest rates are at historical lows.

Mortgage interest rates are the lowest in decades, providing home buyers the opportunity for greater purchasing power than ever before. Lower interest rates allow you to save on your monthly mortgage payment or enjoy greater purchasing power for your new home.

(View Mortgage Rates for the past 30 years at MortgageNewsDaily.com)
 

2009: $1,560.74, 5.08% 1999: $1872.13, 7.44%

MONTHLY SAVINGS = $311.39

SAVINGS OVER 30-year LIFE OF LOAN = $9,341.70

(2009 savings over the interest rate of 16.63% in 1981 are $1,396 monthly and over $40,000 over the life of the loan!)

a.       *Monthly payment calculated for a $350,000 home, 10% down payment, annual 30-year fixed rate.

3. Competition is down.

Over the past year, there are almost 18% fewer homes on the market in Indianapolis, with a greater percentage of them pending sale in June. For homes under $300,000 there are almost 19% fewer homes on the market and over 4% more homes pending sale.

a.       *Source: F.C. Tucker Indianapolis Market Report

4. Sale prices are up.

The average selling price of homes in the Indianapolis market increased over the average selling price in 2008.

New Estridge Ranch Home in Westfield, Indiana

1343 Somerville

Westfield, IN 46074

Price: $325,000
www.tourfactory.com/515624

Estridge Community: Centennial in Westfield – decorated model located off of Ditch Road, north of 146^th Street.

Learn more about the Irvington Collection of ranch homes at Centennial

View the 940 Irvington Collection home design

Featured Estridge Home Highlights:

• 2 bedrooms, 2 baths
• Finished lower level
• Lots of light with vaulted ceilings and oversized windows
• Gorgeous kitchen – designer staggered cabinets, black appliances, granite island
• Open great room features fireplace with custom crafted mantel
• Hardwood flooring throughout living space and master bedroom
• Luxurious master bath offers garden tub, ceramic tile and spacious walk-in closet
• Screened porch off breakfast nook
• Incredible neighborhood amenities: bark park, community garden, miles of walking trails, swimming pool, tennis and volleyball courts, sledding hill and much more!

View Photo Tour of this luxury new home

Learn more about Estridge

View all Indianapolis Real Estate by Estridge

View all Estridge New Homes for Sale on Estridge.com.

7847 Whiting Bay Drive
Brownsburg, IN 46112
$424,000
http://www.tourfactory.com/503305

Estridge Community: Reserve at Highland Green in Brownsburg – decorated model located off of SR267, 2 miles north of I-74.

Learn more about the Meridian Collection of ranch homes at Centennial

View the 760 Meridian Collection home design

Featured Estridge Home Highlights:

• Ranch Home with 10’ ceilings and open design
• 3 bedroom, 2.5 baths
• Lower level
• Gorgeous kitchen with granite countertops and stainless steel appliances
• Large breakfast bar island with kitchen sink overlooking hearth room
• Dual-sided fireplace
• Crown molding throughout living area
• 3-car side-load garage

View Photo Tour of this luxury new home

Learn more about Estridge

View all Indianapolis Real Estate by Estridge

1385 Trescott Drive

Westfield, IN 46074

Price: $349,900
www.tourfactory.com/480334

Estridge Community: Centennial in Westfield – decorated model located off of Ditch Road, north of 146^th Street.

Learn more about Irvington Collection homes in Centennial

View the 941 Irvington Collection home design

Featured Estridge Home Highlights:

• 4 bedrooms, 3 baths + private office
• Finished lower level includes full bath and 2 bedrooms
• Lots of light with 10’ ceilings and oversized windows
• Gorgeous kitchen – designer staggered cabinets, stainless steel appliances, granite island
• Open great room features fireplace with custom crafted mantel
• Skylights in entry and dining room
• Luxurious master with tray ceiling, garden bath and spacious organized walk-in closet
• Screened porch off breakfast nook
• Incredible neighborhood amenities: bark park, community garden, miles of walking trails, swimming pool, tennis and volleyball courts, sledding hill and much more!

View Photo Tour of this luxury new home





Learn more about Estridge 

View all Indianapolis Real Estate by Estridge

View all Estridge townhomes for sale on Estridge.com.

1326 Middlebury Drive

Westfield, IN 46074

Price: $189,900

BLC: 2869167
www.tourfactory.com/409258

Estridge Community: Centennial in Westfield – decorated model located off of Ditch Road, south of 156^th Street.

View Photo Tour of this luxury new home

Learn more about Lockerbie Townhomes at Centennial

Featured Estridge Townhome Highlights:

• 3 bedrooms, 2.5 baths
• Elegant 2-story entry
• Private back patio off of family room
• Large dining room
• Gas fireplace in living room
• Upper level laundry
• 9’ ceilings on both levels
• Oversized windows
• Incredible neighborhood amenities: bark park, community garden, miles of walking trails, swimming pool, tennis and volleyball courts, sledding hill and much more!

View all Indianapolis Townhome designs by Estridge

Learn more about Estridge

View all Indianapolis Real Estate by Estridge 

Featured Estridge Available Home - Jan. 14, 2009

8518 Seafield Drive

Brownsburg, IN 46112

Price: $289,900

BLC: 2864266
www.tourfactory.com/403643

Estridge Community: Highland Green in Brownsburg, located off of SR267, 2 miles north of I-74.

View Photo Tour of this luxury new home

Learn more about Highland Green Collection homes

Featured Estridge Home Highlights:

• 4 bedrooms, 2.5 baths
• Over 2600 square feet of finished living space + unfinished lower level
• Private homesite with mature trees
• Gorgeous kitchen with granite countertops, hardwood floors and quality Whirlpool® appliances
• Breakfast nook opens to sunny family room with fireplace
• Elegant formal living and dining rooms with arched entries and detailed columns
• Luxurious master suite with garden tub, separate shower and walk-in closet organized with laminate wood shelving
• 2-story foyer welcomes guests

View More Photos of this luxury home: http://www.tourfactory.com/403643

Learn more about Highland Green

Learn more about Estridge

View all Indianapolis Real Estate by Estridge

Optimism about the Indianapolis Real Estate industry is spreading throughout the media. Below is an article from wthr.com that further details the current sentiment in the real estate industry discussed in yesterday's Estridge blog post, Predictions prove positive for Indianapolis Real Estate in 2009.

Updated: Jan 9, 2009 09:29 AM EST

Lynsay Clutter/ Eyewitness News

http://www.wthr.com/Global/story.asp?s=9644610

Indianapolis- The housing market is hurting across the country, but there is hope here in Indiana, with signs of improvement.

Foreclosure rates began to plateau at the end of the third quarter, and housing inventory is starting to decrease, leading local realtors to believe the market is on its way to correcting itself.

It is a hopeful sign, but it's going to be a long road.

In the 9 Counties of Central Indiana, Colliers Turley Martin Tucker's reports, home closings fell 11% in 2008, the average home price fell 5% and building permits fell 37%.

Foreclosures helped contribute to the problem by flooding the market with inventory. Indiana ranked 6th highest in the nation with 30,800 mortgages in foreclosure.

The Indiana Builders Association says high home inventory and falling home values are at the core of the current economic crisis.

With no demand in the market, at least two local builders, Gunstra and Davis Homes, recently closed their doors.

"Home builders create a lot of jobs going to and from the job every day, and also the ripple effect. Someone who buys a new home, buys furniture at the furniture stores, appliances and the appliance stores, and draperies, and everything that goes into a new house. That all helps stimulate the economy and create jobs for folks around the state of Indiana," said Rick Wadja, Indiana Home Builders Association.

Wadja was in Washington DC Wednesday asking Indiana's local delegation for help. Builders want a package of subsidies included in Obama's Economic Stimulus that would bring mortgage rates to just under 3% for the first half of the year.

Optimism is the overwhelming attribute you’ll find when speaking with anyone in Indianapolis Real Estate. At Estridge, a strong finish to 2008 with increased activity in December from both future homeowners and real estate partners has led to lots of excitement and activity in our neighborhoods. We are beginning 2009 starting a lot of luxury home building around Indianapolis and that activity is breeding even more.

Incredible interest rates are helping build consumer confidence and a steady decrease in Central Indiana housing inventory throughout 2008 suggests a correction of local housing. While Indiana’s market was never affected as severely as most of the nation’s, all of the excitement is creating a stronger optimistic outlook throughout the industry than was experienced at the beginning of 2008.

In the FC Tucker 2008 market analysis, James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division stated, “I believe efforts to reform the nation’s lending practices will strengthen consumer confidence in 2009. Moreover, Central Indiana continues to have a strong economic base of business activity and one of the steadiest real estate markets in the nation. I am optimistic that we’ll see improvement in 2009.”

According to panelists from Indiana University’s annual business outlook, Indianapolis should see more positive numbers for Indianapolis in the fourth quarter. Our market could rebound more quickly than other U.S. cities, primarily due to our nationally recognized affordability.

We are definitely looking forward to 2009 – how about you? What have you experienced lately?

Read more from the 2008 market analysis.

View all Estridge homes on Estridge.com.

1015 Palomar Drive
Westfield, IN 46074
$495,000
BLC: 2863942

Estridge Community: Centennial at 146^th Street, model located off of 146^th Street east of Ditch Road

View Photo Tour of this luxury ranch home design

Learn more about this Estridge 760 Meridian Collection home design

Feature Home Highlights:

• Gorgeous pond homesite
• 3 bedroom, 2.5 bath ranch new home
• Stunning kitchen with cherry cabinets, granite countertops, and a double oven
• Dual-sided fireplace between hearth room and great room
• 10’ ceilings throughout
• Luxurious master suite with 2 large walk-in closets and a feature garden tub
• Separate dining room and study
• Large deck and professional landscaping overlook the pond
• 3-car side-load garage
• Basement 

View all new Indianapolis Real Estate by Estridge.

Most reports regarding shopping for real estate state that between 70% to 85% of home buyers start their search on the internet or do online research at some point throughout their new home shopping. We also know that every home buyer shops differently and uses different resources. That’s why we’ve tried to develop many different places for you to find Estridge on the web.

Where can you learn about Estridge homes and neighborhoods? All over.

-   www.Estridge.com – Estridge Collections’ official website with information on Estridge history, companies, homes, neighborhoods, Estridge Design Studio at HOMExperience, lifestyle tips, photo tours of neighborhoods and homes, view home designs, learn about the surrounding communities and more. Plus, Ask Angie, the Estridge Online Concierge for assistance in finding information, relocating, scheduling appointments and more.

-   www.EstridgeCustomGalleries.com – Estridge Custom’s official website with information on Estridge Custom Galleries homes and neighborhoods, Paul E. Estridge homes, building your custom home on your own homesite, custom homes available now, and a wide library of photos to view. Use the Online Concierge chat to quickly answer all of your questions about building an Indiana custom home.

-   Blog.estridge.com – The Estridge blog –information about Indianapolis homes, Indianapolis real estate, tips on living in your home, featured Estridge homes available now, HOMExperience cooking class recipes and much more.

-   www.MyEstridgeHome.com –Extensive photo library with over 900 photos of Estridge homes, neighborhoods and HOMExperience. View photos of Estridge homes being built, custom design features and much more. MyEstridgeHome.com is also where new homeowners can create their very own Estridge home website.

-   www.TourFactory.com – View photo tours of Estridge homes available now and neighborhoods.

-   www.Facebook.com – Become a fan of The Estridge Companies on Facebook. View photo galleries and information only found on Facebook.

-   http://www.youtube.com/estridgehomes – Estridge has a YouTube channel with informational videos from the Estridge Building a Better Life DVD and photo tours of our new homes around Indianapolis.

-   Estridge Homes Available Now and neighborhoods are also found in other Indianapolis homes and home builder outlets: www.Trulia.com, www.Mibor.com, www.Homes.com, www.google.com, www.Yahoo.com, www.HomeDebut.com, www.Zillow.com, www.CraigsList.com, and more

Other Estridge Companies websites:

-   www.WoodWindGolf.com – Wood Wind Golf Club at 161^st Street and Towne Road.

-   www.FirstSourceCap.com – FirstSource Capital is Estirdge’s inhouse mortgage lender

-   www.FirstMileUSA.com – First Mile is Estridge’s technology company that serves many Estridge neighborhoods and businesses around the greater Indianapolis area with internet, phone, cable, and security services.

With the media spotlight constantly on negative news in the economy and the real estate market I’m sure that some are thinking, “Why on Earth is anyone moving right now?” But they are. In fact, we welcome new homeowners to our Estridge communities every week. And more visit us every day to learn how they can build a new home. So why are these people moving?

Below are a few of the reasons they chose to move that new homeowners have shared with us:

Below is an excellent blog post from IDEA ONE MEDIA. While the post is speaking directly to new home consultants, it is entirely relevant to anyone employed by residential builders or involved in the Indianapolis Real Estate market.

2009 Housing Market: Reasons for Optimisim

December 4, 2008

I have been asked at several developer meetings lately if I am optimistic about the housing market in 2009. I tell them I am. They look at me with disbelief. “Why?”

Here’s why: because I choose to be.

I choose to be because being pessimistic has never put more money in my pocket.

I choose to because being positive about anything adds years to my life and being pessimistic takes years away.

I am because it takes too much energy to feel fear, worry, stress and defeat.

I am because I believe there is more within our control than we are actually taking responsibility for.

Being optimistic is not the same as being naive, or walking through the world with my head in the clouds. It’s a choice. But it’s rooted in something else as well: in 2008 we were liberated as an industry.

Read the complete article

With such a stream of disappointing news from the media, it is exciting to see reporting on opportunity and positive growth within the real estate industry. 
 

The recent article from the Associated Press, Number of first-time home buyers is increasing, details a growing market for Indiana home builders and real estate professionals. According to the article, the number of first time home buyers rose to 2% to 41% of all 2007 real estate transactions. Low interest rates, expanded choice and the flexibility of first time home buyers create a great market opportunity for Indianapolis townhomes and Indianapolis real estate in general.

Strengthening the confidence and knowledge of first-time home buyers, especially during a time when the media is creating doubt abouttheir investment decision, while providing outstanding service, will help develop a long term relationship with these new homeowners.

Read the full article: http://www.msnbc.msn.com/id/27631021/

Number of first-time home buyers is increasing

Survey shows they are taking advantage of falling prices, interest rates

The Associated Press

updated 2:36 p.m. ET, Sun., Nov. 9, 2008

According to Forbes.com, Indianapolis is continues to be ranked the 3^rd most affordable real estate market in the nation.

Forbes.com, October 10, 2008

Top Spots
The factors that make the cities on our list valuable--affordable housing, relatively low gas prices, sluggish inflation, a job market that's more vibrant than most--are more than an indication of cheap deals. Instead, they give us a glimpse of the cities that are likely to offer value. Cities like Detroit (which didn't make it to our list) are cheap, but low-income figures and a fading job market won't do much for sustaining worth.

Housing has remained affordable in the South and Midwest, thanks to growing populations, relatively lax building regulations and "lots and lots of land," said Daniel McCue, a research analyst at Harvard's Joint Center for Housing Studies.

Three Midwestern cities round out the top 10: Indianapolis; Columbus, Ohio; and Minneapolis. The worst-ranked cities, after Los Angeles, were Providence, R.I.; New Orleans; Philadelphia; and Cleveland.

Details on Indianapolis Real Estate:

Job Growth Projections Rank: 15

Inflation Rank: 7

Median House Price/Median Household Income Rank: 1

Median Income/Cost of Living Index Rank: 3

Gas Prices Rank: 17

Read the full article on Forbes.com.

- InsideINdianaBusiness.com Report

- Source: F.C. Tucker Co.

Article Highlights:

-          18,393 homes for sale in Indianapolis – September 2008

-          20,943 homes for sale in Indianapolis – September 2007

-          Overall, September 2008 home sales nearly equal to September 2007.

-          Year to date sales are 11% lower than 2007

-          Six Counties with Positive Growth over 2007

1.       Boone County: 41.9% increase in single family homes and condos

2.       Shelby County: 15% increase

3.       Morgan County: 12.3% increase

4.       Johnson County: 7.9% increase

5.       Hamilton County: 2.5% increase

6.       Marion County: 2.0% increase

-          Days to sell a home:

o        Hamilton County leads with 83 days

o        Average days on the market is 93, 6.9% increase over 2007

Read the full article:

http://www.insideindianabusiness.com/newsitem.asp?ID=32019