Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Indiana > Indianapolis
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-28-2022, 02:36 PM
 
928 posts, read 492,524 times
Reputation: 1661

Advertisements

We've decided we have to go with Carmel for the high school. Housing overpriced and inventory low. Not looking forward to the search for something reasonable.
Reply With Quote Quick reply to this message

 
Old 06-28-2022, 04:07 PM
 
4,096 posts, read 11,421,036 times
Reputation: 9124
Get a local real estate agent involved who does it full time and has done it a long time. They will have contacts and info that will be invaluable.
Reply With Quote Quick reply to this message
 
Old 06-28-2022, 08:08 PM
 
Location: Greater Indianapolis
1,727 posts, read 1,969,110 times
Reputation: 1971
Quote:
Originally Posted by Don_Draper View Post
We've decided we have to go with Carmel for the high school. Housing overpriced and inventory low. Not looking forward to the search for something reasonable.
Rent first maybe?
Reply With Quote Quick reply to this message
 
Old 06-29-2022, 06:51 AM
 
377 posts, read 267,497 times
Reputation: 773
Quote:
Originally Posted by Don_Draper View Post
We've decided we have to go with Carmel for the high school. Housing overpriced and inventory low. Not looking forward to the search for something reasonable.
But isn't housing "overpriced" everywhere? I would look in Fishers if you think Carmel is overpriced.
Reply With Quote Quick reply to this message
 
Old 06-29-2022, 07:16 AM
 
Location: Fishers, IN
4,966 posts, read 6,228,163 times
Reputation: 4930
Quote:
Originally Posted by Durpie22 View Post
But isn't housing "overpriced" everywhere? I would look in Fishers if you think Carmel is overpriced.
As a Fishers resident, most of Fishers is overpriced as well. It's just not a good time to be trying to buy a house anywhere. People making cash offers over asking are getting outbid. It's ridiculous out there right now.
Reply With Quote Quick reply to this message
 
Old 06-29-2022, 08:05 AM
 
Location: Greater Indianapolis
1,727 posts, read 1,969,110 times
Reputation: 1971
Quote:
Originally Posted by ischyros View Post
As a Fishers resident, most of Fishers is overpriced as well. It's just not a good time to be trying to buy a house anywhere. People making cash offers over asking are getting outbid. It's ridiculous out there right now.
A co-worker of mine was trying to buy a house in Fishers back in 2021 after renting the few years prior. He basically confirmed what you're saying and consistently was out-bid, over and over again. He and his wife ended up buying their rental out from the guy who owned it (they negotiated a price and worked it out) and decided to just renovate the house over time since that option seemed significantly easier than bidding against other houses. He said people were coming from the coasts and were willing to pay significantly over the asking price without any questions asked. He just couldn't compete in that market. I imagine it's pretty similar to the market now. My wife and I are sticking with rentals for now.
Reply With Quote Quick reply to this message
 
Old 06-29-2022, 08:40 AM
 
928 posts, read 492,524 times
Reputation: 1661
Quote:
Originally Posted by Kluch View Post
Rent first maybe?
Rents are $2500-$3k a month, so more than the mortgage I'm targeting. I hope my company will pay for temporary housing.
Reply With Quote Quick reply to this message
 
Old 06-29-2022, 08:42 AM
 
928 posts, read 492,524 times
Reputation: 1661
Quote:
Originally Posted by Durpie22 View Post
But isn't housing "overpriced" everywhere? I would look in Fishers if you think Carmel is overpriced.
I want to, but traffic is bad in Fishers and while the high school is good, it's not where my wife wants our son to go as the Carmel HS has a journalism program, which he's interested in. I keep telling her he's likely to change his mind, but she's not listening. We do have a great agent who knows what we want. Hopefully he finds something before it's listed. Probably our only shot because I refuse to get into a bidding war and end up with much less equity, and then watch the housing market crash like in 2007-2009.
Reply With Quote Quick reply to this message
 
Old 06-30-2022, 06:27 AM
 
Location: Central Indiana/Indy metro area
1,705 posts, read 3,051,788 times
Reputation: 1810
Quote:
Originally Posted by Don_Draper View Post
...I refuse to get into a bidding war and end up with much less equity, and then watch the housing market crash like in 2007-2009.
In normal times I'd agree with your assessment, but when rentals are now costing so much more than owning, even if one takes a 10-20% hit in house value, you still might come out ahead. If overall inflation isn't going to take a huge hit, then even somewhat overpriced things today, like homes and cars, won't have drastic reductions in prices.

The main issue with housing is that there are so many industries that sell it as an "investment" that people forget what the true purpose of a home was for, shelter from the elements to protect humans. Yes, housing is costly, especially now. In the past it made more financial sense to rent if one was wanting to wait a couple of years for the perfect house, save a decent down payment, etc.. Today, I've seen very small homes renting for $1,500-$2,000 in the sought after suburban school districts. So the question becomes, does one rent for three years at $1,500/month, $54,000 total, or take the chance on a home now and if it drops in price $54,000 in a year or so, was there ever really a financial loss in the grand scheme of things? Of course if a company was giving a decent housing stipend, then the renting path could be the better option.
Reply With Quote Quick reply to this message
 
Old 07-01-2022, 11:50 AM
 
Location: Mishawaka, Indiana
7,010 posts, read 11,898,349 times
Reputation: 5813
Quote:
Originally Posted by indy_317 View Post
In normal times I'd agree with your assessment, but when rentals are now costing so much more than owning, even if one takes a 10-20% hit in house value, you still might come out ahead. If overall inflation isn't going to take a huge hit, then even somewhat overpriced things today, like homes and cars, won't have drastic reductions in prices.

The main issue with housing is that there are so many industries that sell it as an "investment" that people forget what the true purpose of a home was for, shelter from the elements to protect humans. Yes, housing is costly, especially now. In the past it made more financial sense to rent if one was wanting to wait a couple of years for the perfect house, save a decent down payment, etc.. Today, I've seen very small homes renting for $1,500-$2,000 in the sought after suburban school districts. So the question becomes, does one rent for three years at $1,500/month, $54,000 total, or take the chance on a home now and if it drops in price $54,000 in a year or so, was there ever really a financial loss in the grand scheme of things? Of course if a company was giving a decent housing stipend, then the renting path could be the better option.
Very well said, this is different than 2008 in number of ways, it's a whole new set of rules to operate under now.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Indiana > Indianapolis

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top