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.

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.

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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 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.

Indianapolis Real Estate Company Moves Forward with a New Name

Monday, April 26, 2010 by Real Estate News

Century 21 Realty Group I recently announced its transition to a new name and company: Prudential Indiana Realty Group. According to John Dick, chief executive officer of Prudential Indiana Realty Group, this transition is the best fit for the future,  "Prudential Real Estate and Relocation Services offers us global brand recognition and industry-best technology, training and relocation services. The best in Indiana real estate just got better, and our customers will surely benefit."

Watch John Dick's introduction below:



Prudential Indiana Realty GroupWhile Prudential assures Indianapolis homeowners and real estate professionals that the quality service and outstanding real estate services provided by Century 21 Realty Group I will still be an Indianapolis tradition, Indianapolis residents will need to adjust to seeing a new real estate sign around town.

Learn more about the transition.
Visit www.PrudentialIndianapolis.net to learn more.


Existing-Home Sales Rise on Home Buyer Tax Credit and Favorable Market Conditions - National Association of Realtors

Friday, April 23, 2010 by Real Estate News

Resale Homes SellingThe NAR (National Association of Realtors) releases existing-home sales for every month. March was a good month for home sales, indicating a favorable real estate market. The existing-home sales for April will be released May 24, 2010. Here's the press release on March existing-home sales: 

Existing-Home Sales Rise on Home Buyer Tax Credit and Favorable Market Conditions - National Association of Realtors
Press Release; April 22, 2010

Buyers responding to the homebuyer tax credit and favorable affordability conditions boosted existing-home sales in March, marking the beginning of an expected spring surge, according to the National Association of Realtors®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 6.8 percent to a seasonally adjusted annual rate of 5.35 million units in March from 5.01 million in February, and are 16.1 percent above the 4.61 million-unit level in March 2009.

Lawrence Yun, NAR chief economist, said it is encouraging to see a broad home sales recovery in nearly every part of the country, with two important underlying trends. “Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running,” he said. 

Read the entire press release here.

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

Indianapolis Home Building Rises for 4th Straight Month - reported by the Indianapolis Star

Friday, April 23, 2010 by Real Estate News

Indianapolis Neighborhood by EstridgeEstridge Home News: According to the Builders Association of Greater Indianapolis, permits for homes in the Indy metro area have risen four straight months, after a two-year decline. The Indianapolis Star reports this encouraging real estate news for current and soon-to-be homeowners:

Indianapolis Home Building Rises for 4th Straight Month
By Jeff Swiatek, The Indianapolis Star, April 20, 2010

The number of building permits issued for single-family homes rose again in March in the Indianapolis area.

Permits in the nine-county metro area jumped 62 percent, to 476, over the same month a year ago, said Builders Association of Greater Indianapolis.

It's the fourth straight month that permits have risen in the metro area, after a two-year drop.

Johnson County saw the largest increase in permits, 211 percent, to 59.

Read more of Jeff Swiatek's article on the 2010 Indianapolis real estate market.



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

Earn Your Federal Homebuyer Tax Credit with a New Estridge Home

Tuesday, April 6, 2010 by estridge homes
Homeowners, real estate professionals Learn more about the Federal Tax Creditand Indianapolis home builders like Estridge are buzzing about the final days of the Federal Homebuyer Tax Credit. The credit, available to first time and repeat home buyers is available on homes purchased through April 30, 2010, if they close before June 30, 2010. (Learn more about the repeat home buyer tax credit from the National Association of Home Builders.)
 
At Estridge, we're excited to have opportunities for home owners to utilize the tax credit with
- New Estridge Homes Available in Avon
- New Estridge Homes Available in Brownsburg
- New Estridge Homes Available in Carmel
- New Estridge Homes Available in Franklin Township
- New Estridge Homes Available in Westfield
from $218,500 to $729,900.

View the complete list of Estridge Tax Credit Ready Homes Below. Click on the home image to learn more about each home's design.
 

 - TAX CREDIT READY ESTRIDGE HOME LIST -

Avon -
Whispering Pines
5885 Pine Bluff Dr.
BLC: 2959817
$345,000Broadmoor4br, 2.5ba, Open home design with loft. 3-car Garage. Tree-lined homesite.
Avon -
Whispering Pines
1309 Longleaf St.
BLC: 21013032
$325,00Spaeth3br, 2ba, Brick front RANCH, open design, finished lower level, screened porch.
Avon -
Heritage Hill
6881 Ethen Glen Dr.
BLC: 21014634
$399,900Witney4br, 3.5ba, Tudor style exterior. Gourmet kitchen, main level master, 3-car Garage.
Brownsburg -
Hession Fields
814 Settlers Walk
BLC: 21002472
$244,900Lawford

4br, 2.5ba, Flexible space for den, office or living room, lower level, NEW DESIGN.

Franklin Township - Edenwilde7658 Ockley Ln.
BLC: 21009670
$284,900Capel4br, 2.5ba, Brick home with distinctive dormers, gourmet kitchen, hardwood floors.
 Carmel - Grandin Hall5422 N Grandin Hall Cr.
BLC: 21005605
$729,900Wentworth4br, 4.5ba, Estridge CUSTOM home, main level master and guest suite, covered lanai.
view 945 home design informationWestfield -
Bridgewater Parks
15618 Bethpage Trail
BLC: 21011969
$374,500945a3br, 3ba, RANCH home, finished lower level w/ full bed & bath, pondview homesite.
Westfield -
Bridgewater Parks
15693 Bethpage Trail
BLC: 21014361
$389,900941d4br, 3ba, RANCH home, screened porch, finished lower level w/ full bed & bath.
Westfield -
Bridgewater Parks
15629 Bethpage Trail
BLC: 21011986
$344,900935a3br, 3ba, RANCH Home, granite, hardwood floors, finished lower level with bed & bath
Westfield -
Centennial at 146th
14924 Montclair Dr.
BLC: 21000379
$325,000Hanover4br, 2.5ba, Quaint front porch, granite countertops, hardwoods, extended garage.
Westfield -
Centennial at 146th
14731 Bixby Dr.
BLC: 21014607
$399,900Getty4br, 4.5ba, Main level master, designer kitchen, finished lower level with full bath.
Westfield -
Centennial at 146th
1320 Trescott Dr.
BLC: 21015739
$299,500935a3br, 2ba, RANCH home, gourmet kitchen with double oven, lower level, screen porch.
Westfield - Centennial Townhomes1351 Middlebury Dr.
BLC: 21016022
$254,500Duke4br, 2.5ba, 2-story Townhome, Main Level Master, granite countertops, loft.
Westfield - Centennial Townhomes1353 Middlebury Dr.
BLC: 21016022
$218,500Columbia3br, 2.5ba, 2-story Townhome, granite countertops, 2-car garage, back patio.
Westfield - Centennial Townhomes1357 Middlebury Dr.
BLC: 21002516
$234,900Emory3br, 2.5ba, 2-story Townhome, granite countertops, bonus room, front porch, back patio.

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.

45 Indianapolis New Home Builders Participating in Spring Parade of Homes

Tuesday, March 30, 2010 by Estridge Events

We are excited to join 44 other new home builders in Parade of Homes Indianapolis this Spring. The Estridge decorated models featured in this year's Parade of Homes are:

- Reserve at Rock Bridge in Zionsville
- Irvington Collection Model in Centennial at 146th Street in Westfield
- Edenwilde in Franklin Township
- Manor at Anderson Hall in Fishers


Tax-break deadline spurs spec homes in ParadeReserve at Rock Bridge in Zionsville
Indianapolis Business Journal
By Scott Olson, March 29, 2010

This spring's Parade of Homes is being held about two weeks earlier than normal to help builders lure homebuyers who want to take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking chances on more spec homes.

The annual spring Parade of Homes, which gives dozens of Indianapolis-area home builders the chance to showcase new models to potential buyers, hasn’t undergone any major format changes this year. But one adjustment that may seem minor on the surface is critical to many participating builders.Irvington Collection Model in Westfield

The dates of the event have been moved up by about two weeks, to April 10-11 and April 17-18, to help builders lure homebuyers who may be emboldened by federal incentives to make a purchase in an otherwise slow residential real estate market.

READ full article on IBJ.com.

Indianapolis luxury home sales jump in February - reported by the Indianapolis Business Journal

Monday, March 29, 2010 by Estridge Events
Indianapolis Luxury Home Builder - Estridge Custom Galleries. The Indianapolis luxury home market, priced over $500,000, is the hardest hit real estate market in Indianapolis. Therefore, the Indianapolis Business Journal article regarding the jump in luxury home sales of February 2010 over February 2009 was encouraging for all in the real estate market. 

Luxury Home Sales Jumped in February
by Kathleen  McLaughlin, Indianapolis Business Journal

Luxury home sales in central Indiana surged in February despite an overall decline in home sales, Re/Max of Indiana reported Monday morning.

A total of 33 homes in the nine-county area sold for more than $500,000 during the month, a rise of 43 percent from February 2009, when 23 homes in the highest-priced segment were sold.

"That was the first time we've seen a jump that big," said Eva Gribler, a Re/Max market analyst.  Re/Max agents believe the $6,500 tax credit for existing homeowners, plus the signs of increasing home prices pulled luxury buyers off the sidelines. The median price for the nine-county Indianapolis metropolitan statistical area was $106,100, up 8.8 percent in February 2009.

Read the full article from Kathleen McLaughlin on IBJ.com.

Where is the Indianapolis Real Estate Market now and where is it headed?

Monday, March 29, 2010 by Estridge Events
Informative article from the Indianapolis Star by Karl Berron March 28th accounting details about the real estate market around Indianapolis. Karl provides relevant details about the stability of the Indianapolis market, as well as the prudence of investment in a new home.

The local market and where it's headed 

An honest accounting of the housing market of the last few years must acknowledge difficult times. It is no secret that we have seen declines in sales volume and home prices, along with historically high levels of foreclosures. The weak economy has exacerbated these problems, as have the many challenges in our capital markets. These difficulties have weighed on consumers' minds as they have dealt with their own personal circumstances.

But while we acknowledge these problems, we must also maintain a long-term perspective of the housing market. After all, buying and owning a home is a decision that plays out over a number of years, and short-term market fluctuations tend to even out over a longer time horizon. The wealth-accumulation benefits of owning a home over the long term are clear. An average home in Indiana purchased for $100,000 in 1990 has grown in value to $162,000 today.

READ the full article by Karl Berron.

Estridge Tips for Spring Plant Selection

Tuesday, March 23, 2010 by E- Lifestyle

Spring is the perfect time to start selecting plants for your Brownsburg, Carmel, Fishers, Indianapolis, Westfield, Avon or Zionsville area home. Which plants will work best in your yard? Which plants will help your real estate value? Estridge suggests homeowners and homebuilders follow these tips when selecting plants during spring:

1.      Ask yourself many, many questions: How will you use the area you are planting in? Recreation? Decoration? Do you have children? Are you concerned about security? Do you want shade for your hammock? Will you be tossing a football around? Remember, your new plants will grow so avoid placing them too close together.

2.      The flowers, shrubs and trees you choose now can save you money on water over the summer. Ask your local nursery for a selection of native central Indiana plants. Plants from the Hoosier climate zone could require less water than others, and are more likely to survive local pests, saving you money on replacing them.

3.      Try smart landscaping design. Group plants together with similar water needs to improve water efficiency. Ask your local nursery on efficient landscape design techniques. They should be happy to help.

Is your home ready for spring? Check out more Estridge home maintenance tips for spring here.

New Home Construction Knowledge 101, Tip 1: What’s a smart home investment amount for me?

Monday, March 22, 2010 by estridge homes

“How much money should I spend on a home? Where do I start determining my budget?” are extremely common questions for Indianapolis home buyers. Luckily, as Indianapolis is one of the nation’s most affordable housing market, homeowners in central Indiana can afford much more home than homeowners in other real estate markets!

 

Real estate professionals and financial advisors often break down thinking about your new home investment in one of two ways: 

  1. Some will suggest a homebuyer spend between two-and-a-half and four times their annual salary on their home.
  2. A second way to look at your investment is to consider your annual payments as a percentage of your annual income, spending no more than 30% of your gross income on housing.

Of course, there are additional factors to consider for your investment. Both methods depend on interest rates that fluctuate daily. There are online resources and mortgage calculators to help determine the monthly for a total home investment. (Visit the FirstSource Capital, LLC website to learn more about mortgages and utilize the mortgage calculators.)

 

Many real estate professionals and financial advisors suggest a homeowner investing in y as much home as they can afford at the time of purchase. Your home is your greatest investment, and one of the only tax deductions left available. Investing more in your home now allows greater financial flexibility in the future. A strong investment today with a missing guest-bedroom furniture set or other perceived shortfalls will certainly serve you and your family better financially in the long run.

For questions about your new home investment and to pre-qualify for your mortgage, visit www.firstsourcecap.com

Construction Knowledge Tip 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 at http://www.estridge.com/EstridgeCK101.aspx.
 

Pilot Release of Fully Furnished & Finished homes by Estridge

Friday, November 20, 2009 by estridge homes

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

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.

 

Join the Conversation on Fully.Estridge.com

Introducing Fully Furnished & Finished from Estridge

Friday, November 20, 2009 by estridge homes

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.


Watch Paul Estridge's Introduction of Fully Furnished 

Growing value in this real estate market. Message from Paul Estridge, Jr.

Wednesday, November 11, 2009 by estridge homes

Below is an email sent by Paul Estridge, Jr. to central Indiana real estate professionals yesterday regarding The Estridge Companies' continued commitment to our homeowners' investments, as well as our leadership in orienting the real estate industry to share this commitment.



Dear Realtor Friends and Partners:

As we approach the Thanksgiving season, it is time for us to do just that - give thanks to all of our friends and partners who have recommended friends and family to our businesses. So, first and foremost, thank you.

2009 has been a very exciting year for our company. We have learned to better serve our community and customers through some of the most challenging economic conditions in history.  Through these turbulent times, I am proud to say we remain steadfastly committed to our vision of building better lives for our customers.  We truly believe it is because of this commitment that Estridge homes and neighborhoods continue to grow in value.

During times like these, some companies abandon the responsibility of growing their product's value by undertaking the practice of discounting homes in order to meet short term sales goals.  Simply put, they destroy their product's value, not only for the future, but especially for families who most recently purchased homes believing them to be a safe investment.  As a buyer, or one representing a buyer, this practice may seem like a real opportunity.  In reality, their safe investment becomes a depreciating asset, losing tremendous value and likely never experiencing normal market appreciation.

At Estridge, we think differently.  We are not in this business for the sole motive of increasing profits.  This is our hometown. Building homes in Indiana our entire careers, we feel our highest responsibility is to build ever-increasing value for our customers' homes and neighborhoods, both experientially and financially.  We are confident this commitment will ensure Estridge homes will grow in value greater than homes by any other builder in the market. Clearly, the market already knows this to be true, illustrated by our 50% market share increase over the last two years while new home sales have declined.  There truly is a flight to quality in tough times.

We are encouraged to see public builders moving away from discounting practices to one  of pricing their homes at the proper market price.  This is an important change that will quickly allow home values to grow, as opposed to decline.  With more and more builders and real estate professionals practicing consistent and proper market pricing, the entire real estate market will be healthier and everyone will benefit.  When people believe that homes are growing in value, they will be more confident it is the best time buy.  As the saying goes, "a rising tide lifts all ships."

Rest assured, Estridge will continue to manage the design and construction of our homes and neighborhoods with a steadfast commitment to our homeowners - past, present and future.  We continue to do everything in our power to help them see their investment grow.

Best wishes to you and yours for a happy, healthy and safe Thanksgiving season.

Sincerely,

Paul Estridge, Jr.
President & Chief Servant
www.Estridge.com

Homebuyer Tax Credit Changes - Learn more about buying an Indianapolis Home with the Tax Credit

Friday, November 6, 2009 by estridge homes

The National Association of Realtors (NAR) has released a variety of resources to assist the real estate industry including new home builders, realtors and homebuyers in better understanding the extension and expansion to the Homebuyer Tax Credit.

 

The most significant impacts of the new legislation are that it:

-           Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.

-           Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between November 6, 2009 and April 30, 2010.

How does this affect homebuyers? - View a Comparison Chart for details on the changes to the new Homebuyer Tax Credit.  


Additional Resources:
Learn more about the Homebuyer Tax Credit on Blog.Estridge.com.
Listen to the President's Podcast, from the NAR President.

Breaking News: Congress Extends, Expands Housing Tax Credit

Thursday, November 5, 2009 by estridge homes

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.

Indianapolis - Named One of Forbes’s Top 10 Healthiest Housing Markets in the Nation

Tuesday, July 21, 2009 by estridge homes

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.

 

  1. 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)
 

Mortgage Rates at Historical lows

 

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.

 

  1. 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

 

  1. Sale prices are up.

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

Featured Estridge Home Available Now - Westfield Real Estate

Thursday, May 28, 2009 by estridge homes

New Estridge Ranch Home in Westfield, Indiana

1343 SomervilleLuxury Ranch Home Design by Estridge

Westfield, IN 46074

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

 

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

 

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