IndyStar column by Laura Musall: Interest rates are up; waiting to move may not be best for your wallet

When interest rates started to climb a year ago, some buyers said they were going to wait out the market, thinking prices were going to plummet. That didn’t happen. Prices are up, and we still have a supply issue.

Here’s what’s happening in the market now:

· Home sales are down this year compared to the same time in 2022. Sales are down about 12% in Carmel; 18.5% in Fishers and 12% in Washington Township on Indy’s northside.

· Average home prices are up, about 5% in both Washington Township and Fishers and 2.5% in Carmel. Average home prices increased in the double digits from 2021 to 2022.

· Homes are still selling. In fact, the average sales price is about 99% of the list price; it was 100% a year ago.

· Buyers are out there, but there aren’t enough houses to meet demand in lots of areas of metro Indianapolis. Now is a good time to sell a house.

But is it a great time to buy a house? Yes!

Real EstateLaura MusallNovember 17, 2023Home Building, Interest rates, Mortgage, Home selling, realtor, Indianapolois realtor

Central Indiana residential real estate market saw modest price increases and a slight overall decrease in inventory in October

October’s central Indiana residential real estate market experienced a slight inventory decrease and a modest year-to-date home sale price increase. However, compared to last October, the average home sale price in central Indiana decreased 8.5 percent, according to F.C. Tucker Company, part of the Howard Hanna family of companies. Specifically:

Available housing inventory decreased 0.8 percent compared to October 2022.
Compared to October 2022, the average home sale price for the 16-county central Indiana region decreased – down 8.5 percent to $295,305. The year-to-date home sale price increased slightly, up 5.7 percent.

Selling your home? Know what you must disclose (hint: ghosts are death are included included)

Indianapolis Star column by Laura Musall

When serial Herbert Baumeister’s home was listed for sale in Westfield, there was no mention that human remains were found on the property, or that investigators suspect Baumeister killed at least 25 people and buried them on the northside property in the 1990s.

The property has been listed for sale several times over the past decade, and each touted the 18 acres of wooded, rolling grounds, the five-car detached garage, horse stables and an indoor pool. There’s no mention that one man escaped from inside that pool, telling investigators Baumeister tried to kill him there.

According to Indiana real estate laws, the owner of the estate isn’t required to disclose the history of the property.

Replace cabinet hardware, no bathroom carpet!

Most buyers – regardless of age – don’t want to do a bunch of updates after buying a house. They’d rather you update the flooring than offer them a credit for new floors. They don’t want to go shopping for appliances, and they definitely do not want to remove wallpaper. They are willing to pay more for a home where they can move in and begin enjoying their new digs. Here are tips that will help you increase the value of your home. Plus, making updates also can bring you additional joy at home.

I’m ending my love affair with gray, all 50-plus shades of it

You know what things are gray? Prisons, concrete, mice, Grandpa’s Buick, skies on a rainy day. Yet, somehow gray has been the most popular interior paint color for the last decade, and like so many others, I painted nearly every wall in my house a shade of gray.

I’m not sure how this gray obsession began, and even when I asked some experts, no one knew for sure. Someone mentioned the home-flipping reality TV duo Chip and Joanna. Someone else pointed a finger at the Kardashians. I don’t know who gets the credit for it, but it’s time we rethink our use of gray. We’ve overdone it.

Homes sales decline, inventory still low, average prices up in Hamilton County

Home sale price increases slowed and available housing inventory decreased, as the central Indiana residential real estate market continued to see increased activity in June. According to F.C. Tucker Company, part of the Howard Hanna family of companies, in June 2023, central Indiana housing inventory decreased 5.7 percent, compared to June 2022. Pended home sales decreased 20.7 percent, and year-to-date home sale prices increased 5.3 percent.

Talking everything real estate on The Indy Real Estate Gurus podcast

Rick Ripma and Ian Arnold with Mortgage Advisors interviews Realtor Laura Musall on the podcast, Indy Real Estate Gurus. Learn about Laura, what’s it’s like being a realtor, the local market and more.

Here are the 10 cheapest homes sold in the Indianapolis area

Indianapolis Star column by Realtor Laura Musall

It’s fun to ooh and ahh over the ritzy, over-the-top houses that hit the market (like the $5.52 million home that sold in Williams Creek recently), but have you ever wondered about the not so pretty homes? Houses with boarded up windows or signs on the door that say: “Enter at your own risk.” Homes where racoons – and other things – may be running amok. These are the listings that fall into the category of “fixer upper.” Here is a look at the 10 least expensive homes sold over the last 30 days in the Indianapolis Metro area. They range in prices from $30,000 to $52,000.

We don’t just need more houses, we need more of the right kind of houses

A few weeks ago, I showed some houses to a couple from Illinois who want to downsize to a single-story home in Fishers near family. They want a two- or three-bedroom home in a neighborhood where they can play pickleball, be close to hiking trails and grocery stores and meet new friends (and neighbors) who are in the same stage of life.

Sounds pretty simple, right?

It’s not.

Fishers couple seek best date spots in Hamilton County (and I helped)

When people are moving from out-of-town (or haven’t lived in the community long), they don’t just want to know about houses and neighborhoods, they want to know what they can do once they move here. They often ask about restaurants, parks and other attractions, festivals, where to buy furniture, get their pants hemmed. I’ve lived in Hamilton County for more than 30 years, and I like to know what’s going on, so it’s rare I don’t have an opinion. But Mike and Emily Malott started asking me even more questions on our drives to look for their perfect first home. Then after settling into their home, they had another question. What are the best date spots for a young without kids?

Real EstateLaura MusallOctober 23, 2019FC TuckerIndy real estate, Hamilton County, Fishers, Carmel IN, Westfield IN, Things to do, Date nightComment

Thinking of building your next home. These new communities are opening in 2019.

Builders are planning new communities in Fishers, Westfield and Zionsville. Learn more about neighborhoods slated to open in 2019.

Home value estimates at your fingertips

Learn the estimated value of your home through a new program I have for buyers and sellers. Just enter an address, and get lots of info about home values and buyers looking in your community.