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.

More houses are hitting the market in central Indiana

The number of homes for sale increased in March 2023 compared to the same time last year across central Indiana, which is good news for buyers. And, while many suspected (or maybe hoped) home prices would take a nosedive in 2023, that wasn’t the case for most of metro Indianapolis.

The average home sale price increased in Hamilton (8%), Hancock (5.4%), Hendricks (5.3%), Johnson (.7%) and Marion (3.2%) counties. The only metro area to see a decrease in average home price was in Boone County were the average sales price is 5.5% lower this year compared to March 2022.

The only area areas in central Indiana to see a decrease in home prices was in Decatur County (-9.6%) and Putnam County (-2.5%).

Laura MusallApril 13, 2023Laura Musall Homes/FC Tucker

Brick ranch on 1.4 acres in Fishers

This one-owner, all brick-ranch in Fishers has a ton of potential. Built in 1974, it has lots of the original details, but it’s a sold home with a ton of potential. Some photos have been virtually staged to help you imagine how easy it might be to transform some of the spaces. See the full listing and more photos here.

Laura MusallMarch 29, 2023Laura Musall Homes/FC Tucker

Interest rates aren't always most important part of buying a house

Let’s not freak out as interest rates increase. We’d all love rates to go back to the rates of 2021, but just because that’s not happening, doesn’t mean you should put buying a house on hold. Check out my column in the Indy Star about putting mortgage interest rates in perspective.

Laura MusallMarch 18, 2023Interest rates, Indy Star, Real estate, Realtor, Indianapolis, FC Tucker

One-story home in Fishers for sale

Three-bedroom ranch is for sale in Fishers in popular Sunblest, which is near downtown Fishers, the Nickel Plate Trail, YMCA and more.

Laura MusallMarch 8, 2023Laura Musall Homes home for sale, Fishers, Realtor, Real estate, Hamilton County

Indianapolis area real estate stats from January 2023

Here’s a snapshot of real estate in central Indiana through the end of January 2023. Average sales prices are up, inventory is up, although the percentage of sales is down. If you’d like to talk about the market, let’s chat!

Laura MusallFebruary 23, 2023Laura Musall Homes/FC TuckerReal estate, Realtor, Indianapolis, Hamilton County

Carmel is getting greener

Carmel plans to expand the White River Greenway from 116th Street to 146th Street.

Laura MusallJanuary 19, 2023White River Greenway, Carmel, Hamilton County, Parks, Greenways, Trails, RealtorComment

December 2022 Market watch update

Home salesLaura MusallJanuary 16, 2023Real Estate, Realtor, Indianapolis, Homes for saleComment

Just listed in Fishers

Fantastic brick home with finished basement, three-car garage and private backyard in Fishers.

Welcome to Laura Musall Homes, Travis Webb

Travis Webb of Carmel is joining Laura Musall Homes and FC Tucker as a buyer’s agent and seller’s agent. Travis and Laura have created a partnership to offer clients even more services than ever before whether they are looking to buy their dream home, build a home or sell a home.

Laura MusallOctober 7, 2021FC TuckerIndy Realtor, Homebuyer, Home seller, Indianapolis, Homes for sale, Hamilton County IndianaComment

July 4th celebrations

Check out a list of Fourth of July celebrations happening this weekend.

7 tips to buying a house in a seller's market

It’s a crazy real estate market, but even during a seller’s market there are things buyers can do to make their offers stand out, so offers are accepted. Read seven tips by Fishers, Ind. Realtor Laura Musall on buying a home during a seller’s market.

Laura's Insights