Fishers Subdivisions: Light Rail Possibilities? (Carmel, Noblesville: real estate, lease, selling a house)

[IndyBound]

Hi all!

We are looking to purchase a home in the northern suburbs of Indy. We like Carmel, but Fishers is a more affordable option. We're looking to blend my love of established neighborhoods with trees and my husband's wish for a newish home (no more than 15 years old). Our search right now is focused on Berkley Grove at 106th and Hauge and Windemere at 96th between Cumberland and Fall Creek. We have found a home we love in Berkley Grove. It sits on a beautiful, private wooded lot with one problem -- railroad tracks in the backyard. We are told this track is used to run trains between Fishers and the State Fairgrounds during the week and a half during the fair, but that there is also the possibility of the track being used for light rail commuter service between Noblesville and downtown Indy in the future. We know that this is not going to happen overnight, and even if it does come to fruition, the 15 trains that come through a day won't bother us, but we're more worried about the resale of the house in 5 years.

Does anyone have any information on the possibility of light rail service in Fishers? We've done some google searches and found minutes of public meetings, but no conclusive information. Or, is there another neighborhood in the $160-$200K price range that is similar? We're looking to stay below 116th street.

Thanks!

[domergurl]

Take it from first hand experience, DO NOT buy a home that backs up to railroad tracks ... you'll not only have problems with resale, you'll also end up taking a bath on it when someone does want to buy it. Yes, the tracks are only utilized during the state fair, and who knows what the future of light rail is ... but still, after selling a house that backs up to railroad tracks a long time ago ... I won't even look at a house where you can hear trains.

Now, if you don't ever plan on selling and you don't mind the noise ... go for it. I do love the neighborhood you're looking in, but if you can find something in Windermere, I'd go there instead.

[grmasterb]

Originally Posted by domergurl

Take it from first hand experience, DO NOT buy a home that backs up to railroad tracks ... you'll not only have problems with resale, you'll also end up taking a bath on it when someone does want to buy it. Yes, the tracks are only utilized during the state fair, and who knows what the future of light rail is ... but still, after selling a house that backs up to railroad tracks a long time ago ... I won't even look at a house where you can hear trains.

Now, if you don't ever plan on selling and you don't mind the noise ... go for it. I do love the neighborhood you're looking in, but if you can find something in Windermere, I'd go there instead.

Is this the case along the Metra lines in Chicagoland? It seems that much of the housing along the west and northwest surburban lines is pretty nice.

[domergurl]

Originally Posted by grmasterb

Is this the case along the Metra lines in Chicagoland? It seems that much of the housing along the west and northwest surburban lines is pretty nice.

That's where ours was ... biggest real estate mistake we've ever made. I can chock it up to first home buyer youthful indicretion. Most of the Metra tracks also have freight trains. Took us a good 5 years to recover from the bath we took.

Now, as for the Fishers tracks, I know they don't have freight trains on them, but if they convert them to light rail, who knows who else they'll let use the tracks ... freight trains is big money.

[grmasterb]

Originally Posted by domergurl

That's where ours was ... biggest real estate mistake we've ever made. I can chock it up to first home buyer youthful indicretion. Most of the Metra tracks also have freight trains. Took us a good 5 years to recover from the bath we took.

Now, as for the Fishers tracks, I know they don't have freight trains on them, but if they convert them to light rail, who knows who else they'll let use the tracks ... freight trains is big money.

Thanks for relaying your experience. Hopefully they limit the Nickel Plate line to commuter rail only. I don't live next to the track, but I'm within earshot.

[IndyBound]

Domergurl,
Does that mean you would avoid buying anywhere in the Berkely Grove subdivision because of the possible train noise?

[domergurl]

Originally Posted by IndyBound

Domergurl,
Does that mean you would avoid buying anywhere in the Berkely Grove subdivision because of the possible train noise?

I would avoid purchasing a home in Berkeley Grove that backs up to the tracks. I'd try to stay as close to the Cumberland Road side of the neighborhood as possible.

Sorry, I'm just not objective when it comes to train tracks in any way shape or form, due to personal experience.

[grmasterb]

Originally Posted by domergurl

I would avoid purchasing a home in Berkeley Grove that backs up to the tracks. I'd try to stay as close to the Cumberland Road side of the neighborhood as possible.

Sorry, I'm just not objective when it comes to train tracks in any way shape or form, due to personal experience.

And for the record, I have a friend who used to live up against that same track, and she hated dealing with the train whistle during the fair.

[domergurl]

Originally Posted by grmasterb

And for the record, I have a friend who used to live up against that same track, and she hated dealing with the train whistle during the fair.

giddyup! My question is, how long has that house been on the market that's by the tracks and how does in comp. out?

[IndyBound]

It's been on the market over 80 days, which is middle of the road for that neighborhood right now. It's also in the middle of the neighborhood as far as price per square foot. I'm sure they'd come down in price because they're also looking to lease out the house.

I think we're going to pass on it because of our resale concerns. Back to the drawing board! I really appreciate all the input! We're really clueless when it comes to Fishers in general. We live in Broad Ripple now and 3 months ago when we started the house search, Fishers wasn't even on the radar.