New Home Tour at The Village of WestClay

April 20, 2012 by  

Village of WestClay - Home Tour April 18 - May 3, 2009

Village of WestClay - Home Tour April 18 - May 3, 2009

The Builders Association of Greater Indianapolis and Brenwick Development announce the New Home Tour taking place at The Village of WestClay April 18th through May 3rd.

This single-location home tour features nine partially-furnished custom homes priced between $286,000 and $1.5 million. Visitors will discover distinctive home design elements such as private courtyards and other outdoor living trends while also learning about the latest in home energy saving products and building techniques.

2009 Year End Home Sales Results for the State of Indiana

January 26, 2010 by  

Indiana home sales and prices ended 2009 on a positive note, which may signal that the state’s housing market is poised to rebound in 2010.

According to figures released Monday by the Indiana Association of Realtors, home sales statewide rose 4.1 percent in December compared with the same month in 2008, while the median price of a house in Indiana climbed 11.2 percent during the same time frame.

That marks the third straight month home sales have increased, and the second consecutive month median prices have risen.

12750 Bird Cage Walk – $2,795,000

January 19, 2010 by  

English Regency City Home

English Regency City Home

Elegant English Regency City Home in the prestigious Village of West Clay. Authentically appointed throughout. Fabulous home for entertaining.

Custom Kitchen by WoodMode with top of the line appliances including Wolfe range and refrigerator drawers in island. Open to Breakfast nook and Family room. Main level also provides his and her offices.

Elevator to upper levels which include 2 guest suites, Formal Dining & Living rooms with catering kitchen & dumwaiter.

Formal library

Formal library

Also a formal library on 2nd floor opens to terrace with pond view. 3rd floor has 2 master suites, spacious lounge with snack bar.

Low Appraisals

October 7, 2009 by  

New obstacle facing Seller’s is the Appraisal! As if the Seller, in a Buyer’s Market, does not have enough challenges; we are finding a trend that cannot be ignored. Appraisals are coming in below the negotiated sales price and throwing a wrench into the transaction at the last minute.
This year I had a home that was under contract for $440,000. The Seller felt they had given the home away at this price and was feeling that at least it would be over soon. However, when the appraisal came back at only $400,000 we were shocked. The Lender was not going to loan any more than the appraised value. So, now what do we do? Let the deal fall apart?
The solution in this situation was for the Seller to reduce the price another $20,000 and the buyer to bring an extra $20,000 to closing. The Seller felt they were held hostage at gun point and I did too. It was not fair. If the buyer is willing to pay this amount the home is clearly worth it. Right?!
They wanted to sell and figured if this deal fell apart it would likely be the same or worse scenario with a next offer.
I am aware of this same situation occurring throughout the city and nation. And I am aware of at least 2 Seller’s in the Village of West Clay who were held captive to low appraisals.
It is important to be aware of recent “Sold” homes in your immediate area to know what to expect from the appraisal. Appraisers are under pressure now to use only current comps. They must use homes sold in the last 6 months and preferably the last 3 months.
Using a local bank or lender for the financing is one good way to avoid this problem. The large National Lenders, such as Wells Fargo, are putting a lot of pressure on the appraisers to submit low appraisals. And a lot of times their appraisers do not really know the area and the true nuances of a particular neighborhood.

Still possible to sell a home in 4 days!

April 14, 2009 by  

Saddle Creek - Sold in 4 days - February 2009

Saddle Creek - Sold in 4 days - February 2009

Village of West Clay Market Update for 2009

March 10, 2009 by  

Market Update

Market Update

According to the Metropolitan Board of Indianapolis Realtors multiple listing service (MIBOR), as of March 1, 2009, there were 85 homes available for sale in the village of WestClay. A total of 57 homes sold for the year in 2008. You can see from that figure that we do have a surplus of inventory. The absorption rate is over 1 year.

The average sales price for the VWC is $579,000. The average days on market was 149. The highest sale for the neighborhood was the Estridge Dream Home (my listing) and it sold for $2,550,000. The lowest sales price was $140,000.

The Village of WestClay, Indiana – Architecture, Parks & Friendly Neighbors

January 3, 2009 by  

A Custom Estate Home

A Custom Estate Home

The Village of WestClay is located just north of Indianapolis, Indiana. As a resident of the Village of WestClay since 2003, I can personally share with you the unique reasons the Village (as we like to call it for short) is a great place to call home.

For my family it is more than just a neighborhood it is a dream come true. In fact, my father, Tom Huston, is the brains behind this Development. He and his business partner, George Sweet, and their Development Company, Brenwick, have been creating neighborhoods in Carmel and Hamilton County for over 30 years. But, it is my father’s passion for history and architecture that really made this neighborhood a reality.