Area rents are on an upward trend as well. In a recent study from Trulia, Indianapolis was listed as the 5th highest gainer for annual rent change across the country’s metro areas.  In addition to job growth, the large number of home foreclosures has led to increasing rents in cities across the country.  Those who have lost their home in the last few years are often unable to buy another house.  This has created rising demand for a limited supply of rental houses and condos.  As a result, rents have risen up to 5.6% nationally and 11% in Indianapolis.  Close to 30% of American adults are living together with friends and family in order to make their rent more affordable.

Indianapolis is among the few cities that have experienced growth in the industrial sector, and along with it, the creation of jobs.  Rental vacancy rates are the lowest they’ve been since the 1980′s.  The demand for rental housing has led to the construction of new apartment complexes, even though other types of commercial development, such as office and retail, have stopped.  However, building large complexes takes time.  Meanwhile, the high demand for housing has led to higher rents across the city and central Indiana.

If you’re considering a move this summer, contact us to discuss options and see if keeping your current home as a rental is a viable option.  Don’t want to be a landlord?  No problem!  We offer complete property management services; from advertising and tenant screening, to collecting rents and making repairs.  We’ve got you covered! Give us a call at 317.578.1141 or use the form below for more info.

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6164 Rosslyn Av, Indianapolis, IN 46220 (MLS # 21176915)

Cozy, Neutral All Brick Bungalow. New: Roof/Gutters '07, Furnace/Ac '10, Bosch Tankless Water Heater '10, 2c Det Gar '09, Carpet '12, Oven/Range '12, Int Paint '12. Fin Bsmnt W/Brick Fp/Gas Logs & Unf Area For Storage. Neutral & Immaculate. Alarm, Washer & Dryer. Hardwoods Throughout. Tile In Kit & Bath. Rear Wood Deck. Exterior Landscaping W/Stone Retaining Wall. Premium Location - Walk To Br Park, Monon & Village. A True Pleasure To Present To You!

Property Type(s): Residential or Condo, Single Family

Last Updated	5/17/2012	Tract	NORTHCLIFFE
Year Built	1947	Community	Washington - 4903-Marion
Garage Spaces	2.0	County	Marion
Total Parking	2	Walk Score ®	69

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with CENTURY 21 Diversified Realty

(view all details for MLS #21176915)

Related Real Estate

See below for the latest homes, town homes and condos for sale in Broad Ripple.  For a full interactive Broad Ripple Real Estate search map, visit: Broad Ripple Homes for sale by map

Showing properties 1 - 5 of 60. See more Broad Ripple Real Estate.
(all data current as of 5/20/2012)

1. $169,900 : 6437 N Broadway St, Indianapolis
   
   2 beds, 1 full bath

   Home size: 1,182 sq ft

   Lot size: 8,712 sqft

   Listed with Halakar Residential, LLC
2. $259,000 : 6629 Ferguson St, Indianapolis
   
   2 beds, 2 full, 1 part baths

   Home size: 1,863 sq ft

   Listed with Real Living Realty Partners
3. $145,000 : 6051 Carrollton Av, Indianapolis
   
   3 beds, 2 full baths

   Home size: 2,204 sq ft

   Lot size: 6,098 sqft

   Listed with Carpenter, REALTORS
4. $165,000 : 6101 Burlington Ave, Indianapolis
   
   2 beds, 1 full bath

   Home size: 1,985 sq ft

   Lot size: 6,098 sqft

   Listed with CENTURY 21 Scheetz
5. $169,900 : 6164 Rosslyn Av, Indianapolis
   
   2 beds, 1 full bath

   Home size: 1,524 sq ft

   Lot size: 4,791 sqft

   Listed with CENTURY 21 Diversified Realty

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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6566 Reserve Dr, Indianapolis, IN 46220 (MLS # 21176718)

View Virtual Tour

One Of Best Locations In This Community - Literally Just Steps To The Monon Trail Or The Community Pool & Overlooking The Pond W/Water Feature. This Well Maintained Flat Has Laminate Floors Throughout, French Doors In The Living Room, Balcony Off The 2nd Bedroom, Marble Tile Floor In The Bath, And Includes All Appliances. Very Open Floor Plan Has 9' Ceilings Throughout. There Is A Partially Finished Bonus Room In The Basement That Would Make A Great Office Or Exercise Room. No Better Location!

Property Type(s): Residential or Condo, Condominium

Last Updated	5/16/2012	Tract	RESERVE AT BROAD RIPPLE
Year Built	2006	Community	Washington - 4903-Marion
Garage Spaces	1.0	County	Marion
Total Parking	3	Walk Score ®	71

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Carpenter, REALTORS

(view all details for MLS #21176718)

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Similar Real Estate

See below for the latest homes, town homes and condos for sale in Broad Ripple.  For a full interactive Broad Ripple Real Estate search map, visit: Broad Ripple Homes for sale by map

Showing properties 1 - 10 of 35. See more Broad Ripple Condos and Town Homes for Sale.
(all data current as of 5/20/2012)

1. $259,000 : 6629 Ferguson St, Indianapolis
   
   2 beds, 2 full, 1 part baths

   Home size: 1,863 sq ft

   Listed with Real Living Realty Partners
2. $187,500 : 6566 Reserve Dr, Indianapolis
   
   2 beds, 1 full bath

   Home size: 1,231 sq ft

   Lot size: 2,178 sqft

   Listed with Carpenter, REALTORS
3. $199,000 : 1115 Island Woods Dr, Indianapolis
   
   3 beds, 3 full baths

   Home size: 2,112 sq ft

   Lot size: 4,791 sqft

   Listed with F.C. Tucker Company
4. $105,000 : 1747 E 56th St, Indianapolis
   
   2 beds, 1 full bath

   Home size: 912 sq ft

   Lot size: 3,484 sqft

   Listed with LifeStyle Realty Group, INC
5. $177,500 : 6929 Wesley Ct, Indianapolis
   
   3 beds, 3 full baths

   Home size: 1,886 sq ft

   Lot size: 4,791 sqft

   Listed with F.C. Tucker Company
6. $240,000 : 6540 Ferguson St, Indianapolis
   
   2 beds, 2 full, 1 part baths

   Home size: 1,774 sq ft

   Listed with F.C. Tucker Company
7. $144,000 : 5625 Crittenden Av, Indianapolis
   
   2 beds, 2 full, 1 part baths

   Home size: 1,520 sq ft

   Lot size: 871 sqft

   Listed with LS Realty Consultants
8. $199,900 : 5624 N Carvel Av, Indianapolis
   
   3 beds, 2 full baths

   Home size: 1,448 sq ft

   Lot size: 9,583 sqft

   Listed with Prudential Indiana Realty Grp
9. $297,500 : 6760 Spirit Lake Dr, Indianapolis
   
   3 beds, 2 full, 1 part baths

   Home size: 2,472 sq ft

   Lot size: 7,840 sqft

   Listed with Encore Sotheby`s International
10. $289,900 : 6536 Ferguson St, Indianapolis
    
    2 beds, 2 full, 1 part baths

    Home size: 2,209 sq ft

    Listed with F.C. Tucker Company

Listing information deemed reliable but not guaranteed. Read full disclaimer.

One day after the National Association of Homebuilders reported a 5-year high in homebuilder confidence, the U.S. Census Bureau reports that single-family housing starts rose 2 percent for the second straight month last month.

In April, on a seasonally-adjusted, annualized basis, the government reports 492,000 single-family housing starts. A “housing start” is a home on which ground has broken.

In addition, March’s single-family housing starts were revised higher. What was previously reported as a three percent loss was re-measured and changed to a 0.2% gain.

The April tally marks a six percent increase over the one-year moving average and, along with the March revision, suggests that the springtime housing market may have just been seasonal. 

In March, a number of reports suggested a housing retreat :

• Existing Home Sales slipped 3%
• New Home Sales slipped 7%
• Homebuilder Confidence fell 4 points

Since then, though, low mortgage rates and affordable home prices appear to have sustained the new construction market, which now appears poised for a strong 2012. 

As one mark of proof, active buyers of newly-built homes in Indianapolis and nationwide are scheduling “model home” showings at the fastest pace since 2007. The burst of foot traffic high has builders upping their sales expectations for the next 6 months.

A scenario like this would normally lead new home prices higher, but the pressure for prices to rise may be offset by the amount of new home supply coming online.

In addition to a rise in Housing Starts, the Census Bureau also reports that, in April, the number of Building Permits for single-family homes rose 2 percent to move to its second-highest level since March 2010 — the month preceding the end of the 2010 federal Home buyer tax credit.

86 percent of homes break ground within one month of permit issuance.

It’s unclear whether housing is on a steady path higher, but there’s a growing body of evidence that suggests the market bottom has already passed.

Accepted Offer!

 View full listing: 3636 Limelight Ln, Whitestown, IN MLS # 21155079

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The Housing Market Index is scored from 1-100. Readings above 50 indicate favorable conditions in the single-family new home market overall. Readings below 50 indicate poor conditions.

The HMI has not been above 50 since April 2006.

The Housing Market Index itself is a composite reading as opposed to a straight-up homebuilder survey. The published HMI figure is a compilation of the results of three specific questionnaires sent to NAHB members monthly.

The survey questions are basic :

1. How are market conditions for the sale of new homes today?
2. How are market conditions for the sale of new homes in 6 months?
3. How is prospective buyer foot traffic?

This month, builders are reporting strong improvement across all three surveyed areas. Current home sales are up 5 points; sales expectations for the next six months are up 3 points; and buyer foot traffic is up 5 points to its highest point since 2007.

With mortgage rates low and home prices suppressed, the market for new homes is gaining momentum, a conclusion supported by the New Home Sales report which shows rising sales volume and a shrinking new home inventory nationwide.

The basics of supply-and-demand portend higher new home prices later this year — a potentially bad development for buyers of new homes in Indiana and nationwide. With demand for new homes rising, builders may be less likely to make sale price concessions or to offer “upgrade packages” to buyers of new homes.

If you’re shopping for new construction in or around Fishers , therefore, consider moving up your time frame. Home affordability is high today. It may not be tomorrow.

For the second straight week, the 30-year fixed rate mortgage fell to a new, all-time low nationwide. According to Freddie Mac’s weekly mortgage rate survey, the average 30-year fixed rate mortgage rate dropped 1 basis point to 3.83% this week for borrowers willing to pay 0.7 discount points plus a full set of closing costs.

The 15-year fixed rate mortgage also set a mortgage rate record, registering 3.05% with an accompanying 0.7 discount plus closing costs.

Discount points are a one-time, up-front closing cost, based on loan size. 0.7 discount points is equal to 0.7% of the borrowed amount. A home buyer in Indianapolis opening a $200,000 mortgage and paying 0.7 discount points, therefore, would be subject to a one-time $1,400 fee paid at closing.

Borrowers wanting to avoid paying discount points can expect higher mortgage rates than Freddie Mac’s reported national average.

Falling mortgage rates are nothing new throughout Indiana. Since peaking in February 2011, mortgage rates of all types have been in steady decline. The 30-year fixed rate mortgage has shed 122 basis points since that date, falling from 5.05%; the 15-year fixed rate mortgage has shed 124 basis points, falling from 4.29%.

Low mortgage rates give today’s home buyers additional purchasing power, stretching home affordability to new heights.

Low rates also help existing homeowners to lower monthly mortgage payments. For example, as compared to mortgage rates just 15 months ago, homeowners refinancing into today’s 30-year fixed rate mortgage stand to save 13.4 percent on their respective mortgage payments. 

A comparison :

• February 2011 : $539.88 principal + interest per $100,000 borrowed
• May 2012 : $467.67 principal + interest per $100,000 borrowed

A homeowner with a $300,000 mortgage at February 2011 30-year fixed rate mortgage rates would save $2,600 annually with a refinance to this week’s low rates. Even accounting for discount points and closing costs, the “break-even point” on savings like that comes relatively quickly.

Mortgage rates can’t be predicted so there’s no guarantee of low rates forever. If today’s rates meet your budget, consider locking something in. Speak with your loan officer about your options.

Miller House is an expression of the American Modernist spirit in its finest form. It was designed by Eero Saarinen, with interiors by
Alexander Girard, and landscape design by Daniel Urban Kiley. Commissioned by industrialist and philanthropist J. Irwin Miller and his wife Xenia Simons Miller in 1953, Miller House and Garden was designated a National Historic Landmark in 2000. The structure has an open and flowing layout, flat roof and monumental stone, and glass walls. The rooms display strong colors and playful patterns. The large, geometric gardens add charm to the unique character of the house.

Miller House is located in Columbus, Indiana. Members of the Miller family donated the house and gardens, along with many of its original furnishings, to the Museum. The Miller family and the Irwin-Sweeney-Miller Foundation have also donated $5 million to establish an endowment for the house and surrounding grounds.

The Indianapolis Museum of Art, in cooperation with the Columbus Area Visitors Center, started granting access to the house and gardens in 2011. Tours are offered daily Tuesday through Saturday at 1 and 3 p.m., and Sundays at 1 p.m. Miller House is closed Mondays. In December, January and February tours are only available on Saturdays at 1 and 3 p.m. Tickets are available online at www.imamuseum.org and at www.columbus.in.us. Tickets are $20 per person. To order by phone or to book a group tour, visitors may call (800) 468-6564. Special tour opportunities are available for members of Friends of Miller House. For more information regarding Friends of Miller House, you can visit www.imamuseum.org.

The economic recovery continues nationwide, but the recovery’s an uneven one.

Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling.

To help identify those markets in which growth is occurring, the National Association of Homebuilders created the Improving Market Index, a metric analyzing three separate, independently-collected data series “indicative of improving economic health”.

The IMI’s three collected data series are :

1. Employment Growth (as published by the Bureau of Labor Statistics)
2. Home Price Growth (as published by Freddie Mac)
3. Single-Family Housing Growth (as published by the Census Bureau)

A metropolitan area is considered to be “improving” if all three indicators show growth at least six months after the respective area’s most recent trough, or “bottoming out”.

In May, there are exactly 100 U.S. markets that qualify for the NAHB’s Improving Market Index, down from 101 last month but higher by more than 800% from the reading in September 2011, the index’s inaugural release.

17 areas were added to the Improving Market Index list this month including Phoenix, Arizona; Ann Arbor, Michigan; and Bend, Oregon. 18 areas were removed from the May IMI.

83 metropolitan areas remained from April.

There is little actionable information in the Improving Markets Index but the report does a good job of highlighting how “real estate markets” can’t be summarized on a national level and remain relevant to everyday home buyers and sellers across Indiana and nationwide. For example, Fort Collins, Colorado is listed as an Improving Market. However, Greeley, Colorado — located just 30 miles away — was just downgraded from the same list. 

Home values and economies vary by region, by state, by city, by neighborhood, and even by street.

The complete Improving Markets Index can be viewed at the NAHB website but for the best read of what’s happening in your neighborhood, talk to a local real estate agent.

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7117 Parklake Pl, Indianapolis, IN 46217 (MLS # 21175884)

Very Nice 3-Bedroom + Loft Home With An Open & Airy Living Room. Larger Than It Looks From The Curb, This One Has Plenty Of Space For The Growing Family. Kitchen Has Breakfast Bar Is Open To The Dining Room. Low Taxes, Perry Twp Schools, Easy Access To 465 Via 37. All Appliances Stay, Including Washer & Dryer!

Property Type(s): Residential or Condo, Single Family

Last Updated	5/9/2012	Tract	PARK VIEW AT WELLINGSHIRE
Year Built	2003	Community	Perry - 4907-Marion
Garage Spaces	2.0	County	Marion
Total Parking	2	Walk Score ®	18

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Newkirk Realty

(view all details for MLS #21175884)