Check out the latest video of all the Heritage Lake amenities in the community. To see the newest listings at Heritage Lake click here.

What are the Pro's and Con's of moving to Plainfield, Indiana? Here area few things to consider if you are not from the area.

1. Location - Plainfield has great proximity to the Indianapolis airport, and interstate 70 for a quick shot into downtown Indy. Plainfield has a significant foothold in the warehouse distribution industry with a huge amount of warehouses in the general area. However it was planned very well, and almost all the warehousing is located in the same area between Quaker Blvd (formerly SR 267) and the Indy airport. A town with a lot of warehousing may not sound ideal, but it gives a huge tax dollar boost to their local tax base and jobs which allows the town to have a lot of nice amenities for its residents. The town is currently revitalizing their old downtown with new higher end apartments and other amenities. As of this post it is just in the beginning states, but there is a thought out 20 year plan that goes with it.
   
   
2. Parks - Plainfield is a very connected community with several parks. The trails they have are some of the best in all of Hendricks County, because you can get almost anywhere on these trails. It's very nice! Hummel Park is a really nice park which has several playgrounds, pond, creek, sports fields, and even a small concert venue for Summer events. I would also say this is one of the best parks in the whole county as well. The town also has a aquatics center/health facility, complete with indoor/outdoor water park for fun all year round.
   
   
3. Shopping/Food: You have plenty of shopping choices in Plainfield, including an outdoor mall called "The Shops at Perry Crossing." Many people come from neighboring towns to visit the mall. One thing that is lacking is there is not a big box hardware store. For a town this size you would think there would be one, but there are some options in nearby Avon. As far as food, you also have plenty of options with the mall area and general main business district. There are some fantastic independent restaurants that are unique to the area.
   
   
4. Traffic - Traffic really isn't too bad in Plainfield. It gets a little heavy goes through the older downtown area because the road narrows down and those taking lefts can hold up traffic where there are no turn lanes.

If you are looking to move to Plainfield, and you like a well rounded town close to the airport and downtown, then Plainfield is an outstanding option. If you need a Plainfield, Indiana Realtor to help you find the perfect home please send me a quick message! There is a lot of economic development happening in the area. If you are reading this long after this blog post please reach out and I will bring you up to speed with all the latest happenings!

Just listed in Avon for $250,000! 312 Cobblesprings Court, Avon, IN 46123

Full Listing Details: https://www.ericmillerre.com/property/21723005/

What are the Pro's and Con's of moving to Danville, Indiana? Here area few things to consider if you are not from the area.

1. Location - Danville is the county seat for Hendricks County, and has a very nice courthouse square with shops and restaurants. It is still a small quiet town, but as neighboring towns to the East buildup, the town is seeing more development in recent years. The nice thing about Danville is the quick access to larger towns nearby such as Avon, Brownsburg, and Plainfield where you can find about any shopping or restaurants you want. Another unique town feature is that golf carts are allow on most roads. So If you live near town you can ride your golf cart out to dinner or to the park!
   
   
2. Events - The fairgrounds are located in Danville, and the facility is very nice. Other than the 4H Fair, many other popular events are held there each year as well. Other popular events include farmers market on the square during the warmers months, fireworks, concerts in the park, concerts on the square, car shows, and the Winterland Christmas Lights drive through in Ellis Park.
   
   
3. Traffic - If you live on the West side of Danville, and drive during rush hour you can run into some traffic going West through town in the evenings. It's not too bad, but if other housing developments start going in to the West of town, then traffic could become more of a burden.
   
   
4. Parks - The main park is Ellis Park which has a nice playground, creek, swinging bridge, ball fields, basketball, tennis/pickle ball, and outdoor pool w/waterslides. Connected to Ellis Park is a large wooded trail area called Blanton Woods. There is also a small playground area in the middle of town called the Jack Willard Park.

If you are looking to move to Danville, and you like a quite town just a few miles from all the amenities, then this town might be a great option for you. Housing prices are a little lower than neighboring towns to the East as well. If you need a Danville, Indiana Realtor to help you find the perfect home please send me a quick message!

With the changing times I have purchased some new gadgets. 360 virtual tours are now included with every listing and every rental property managed. This makes showing properties for sale easier, and especially showing rentals that are occupied to prospective new tenants. If you would like a free home price valuation, send me a quick message!

What will happen to Hendricks County and Central Indiana real estate as 2020 progresses? Let me start off by saying this is not like 2008 where we had the housing and mortgage crisis that caused that recession. The last few years we have had a housing shortage, which has caused prices to increase quite a bit. At this time it's a little early to know the full impact the virus will cause, but we'll dive into many different aspects that will likely impact real estate prices in some way.

Current Market Trends:

• As expected, showings for active buyers went way down starting in mid March. However from April 12th onward showing activity has trended back up quite a bit.
• For appropriately priced houses under around the $200k range we are still seeing plenty of showing activity and multiple offers.
• New construction home sales have stalled. Buying new construction means paying top dollar, so that is usually the first to struggle during an economic decline.
• Many sellers who planned to sell are holding off listing because they are afraid of bad timing. But some sellers are moving up listing their home because they are afraid of future values later this year and into next.
• Many buyers have hit pause on their home search to let things play out. Other buyers have kept looking and enjoyed less buyer competition and nervous sellers more willing to negotiate.
• Lender requirement changes have started. Many lenders are increasing minimum lending requirements to protect themselves more. Pending transactions with preapproved buyers have fallen through because some lenders have tightened their requirements overnight, and those buyers no longer qualified. Yikes!

Future Negative Real Estate Market Trends:

• Job losses. This is a big one, and we really will not know the impact on this until much later. A lot of people are losing jobs now, but how quickly will they be rehired as we try to get back to normal?
• Foreclosures. These are all on hold right now due to executive orders, and many lenders are working with impacted homeowners. However, this can only go on for so long. Just prior to this, foreclosure rates in Hendricks County were very low. However, the amount of long term job loss or pay reductions will cause a large increase in foreclosures, mostly for 2021.
• Hendricks County has an abundance of new construction neighborhoods in Avon, Plainfield, and Brownsburg selling for similar price points ($275-375k). They will likely be battling for buyers moving forward, resulting in lower prices, and/or larger builder incentives.
• With almost no travel happening, short term rentals, and vacation rental owners have been hit really hard. Vacancy rates are nearly 100% for many. This is causing owners to shift into finding long term tenants, or listing them for sale, which adds more inventory to the market.
• Rental property owners are also taking a hit. Many tenants have lost their incomes, and the owner still has to pay the mortgage and expenses. Additionally, with the eviction freeze and soon to be bogged down court system when it opens back up many owners will lose many months of payments. Most of the mortgage forbearance benefits do not apply to many types of investor loans. This could cause an increase in new listings later this year. Generally these rentals are all under $200k houses, so this could be good for first time home buyers. But this could also cause an increase in rental prices, due to less supply.

Were you planning on buying or selling in 2020?

For buyers and sellers it's important to keep a close eye on the market before making a decision. Reach out to me, or your real estate agent to have a discussion about your situation and the current economic conditions. For many buyers and sellers it will be best to wait, while for others now is still the right time to buy or sell. One thing is for sure...wash those hands and stay healthy!

When searching for Hendricks County foreclosure homes on Zillow many buyers ask me about the the ones labeled as "Pre-foreclosure." Everyone wants a great deal, and foreclosures are usually sold under value because they need work. Zillow displays these like regular for sale listings now with with their own price they make up, so they appear to actually be for sale. The truth is they are not, at least not yet.

Although Zillow has gotten better with their data than in the past, some of these potential listings are outdated, and were already sold at the sheriff sale (courthouse auctions). In many cases the auctions will cancel for various reasons, and the listings will disappear and never come back. For those that do end up as a true foreclosure they will be offered for sale through the sheriff sale first (it happens once a month). With these sales, there are strict rules, risks, and must be 100% paid in full the day of the sale, which eliminates 99% of home buyers.

For those that do not sell at the sheriff sale, they will usually end up being a MLS listed foreclosed property where anyone can bid and financing is allowed if the property condition will allow it.

Do you see a "Pre-Foreclosure" property that you might be interested in? Reach out to me and we can discuss this process in more detail, and I can give you more options for potentially buying it. Purchasing and renovating these properties is something I have a lot of experience with!

For those looking for nice homes under $200k in Hendricks County, you have probably found them hard to come by. If they are in good condition they usually sell fast with multiple offers. Have you considered looking at Heritage Lake? This fast growing lake community is Just 11 miles West of Danville. Vacant lot prices used to be really cheap (under $5k), but have risen to about $7-$10k or more for the quality build lots. Lots on the actual lake are well over $100k. The other nice thing is this is a private lake with access only by lot/homeowners. The community also has playgrounds, beaches, common areas, pool, clubhouse, and a new marina in 2020.

When it comes to purchasing a home under $200k, you will find you have a lot of options. You can get nice existing brick homes, and you can even build your own BRAND NEW home, all for under $200k. You won't find that in Hendricks County! There are multiple builders building in this price range, so you have several choices. Also, these builders have lots in their inventory to build on, or you can purchase your own lot separately.

If you have struggled to find something in Hendricks County, contact me about building your own custom home at Heritage Lake for under $200k. If you are struggling to build up a down payment, this area is USDA 0% down eligible. This means you can build your own house, or buy an existing house with little or nothing out of pocket!

If you're going to redo your kitchen countertops, consider this option if you have that half wall divider ledge. It will open up your kitchen a lot more, does not cost a lot extra, gives you a bar stool area, and a lot more counter space! It dramatically changes the look of your kitchen, and modernizes it.

If you have not looked into refinancing lately, it might be a good idea. Rates continue to decline, and refinancing could save you a lot of money if you plan to stay in your house for the next several years. The other effect of low interest rates rates is that house prices will continue to increase partially because of that. Homebuyers can afford to spend more on a house as rates drop. Definitely check with your lender, and other lenders. Some allow you to refi with low fees, while other ones cost more money to do. If you have some extra cash you can also use the opportunity to do a refinance with a rate buy down for an even lower rate, or even pay down some of the principle.