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Fishers Real Estate Forecast for July, 2009

Real Estate Report by m.s.Woods Real Estate, LLC. –  Once a small stop along Indiana’s I-69, Fishers is now a booming suburb of Indianapolis. If you’ve visited the Northeast side of Indianapolis in recent years, you have seen numerous shopping centers develop, like the nearby Hamilton Town Center, and various neighborhoods that make up Fishers homes and community. With all this growth, one might think that Fishers homes have escaped the downturn of the United States economy, but is that the case?

A study found at Indiana Is Home conducted by the Indiana Association of REALTORS® revealed that across 98% of Indiana counties, the Indianapolis real estate market in general continues to slip. Although, the good news is the rate at which things are slowing down is also declining, meaning we are heading in the right direction. While the Indianapolis homes for sale continue to be affected, how is Hamilton County doing? The study showed that the number of homes sold from July, 2008 to July, 2009 did not slide that much. The county witnessed a 4.1% decrease in the homes sold from 463 to 444. The median price for homes sold took a bigger plunge of 9.1%, from $209,500 in 2008 to $190,450 in 2009.

The Fishers real estate market felt a greater impact of today’s economy however. From the months of July, 2008 compared to July, 2009, a 12.5% drop was felt in the number of Fishers homes sold, with 167 sold in 2008 and 146 sold in 2009. There is significant competition in the Fishers market with 626 Fishers homes for sale currently. The good news is numbers show that nearly 23% of the homes listed today will sell. With one out of every four homes potentially selling in today’s climate, that is great climate in which to list your home. The other Fishers homes you will be competing against range from $93,000 to $5.9 million.

You may think that with one out of every four homes currently selling you may not have to do much to stand out against the competition. That’s not necessarily true. Especially if you live in a community with similar floor plans  present from home to home. You will need to have your home stand out and here’s how to do it:

Pay attention to the kitchen. Since many times a nice kitchen will sell a home, look at what simple and cost-effective changes you can make before you list your home. These may include tiling the backsplash, updating fixtures and adding an island. Also consider a warm, neutral color for your kitchen to help buyers feel like they are at home.

Tile your floors. With the mindset of wanting more for less, buyers today want custom home features without custom home prices. You can give this to them with updates like tiled floors in your kitchen and bathrooms. There is some expense in considering this option so weigh this decision against how many homes in your neighborhood you’re up against.

Consider staging. Taking these concepts one step further, consider hiring someone who professionally stages homes for a living to come in and update your home for the best presentation. These individuals are trained to typically take what you already have in terms of furniture and decorations and rearrange them to look more show-ready.

In recent years, Fishers has been a very popular place to work and live. For many years to come, there will most likely not be a shortage of interested buyers in Fishers communities. Use these tips and discuss more with your Fishers REALTOR® when listing your home in today’s real estate market.