Home Values, Market Insight, Real Estate

First Time Buyers Find Choices In Highland Indiana Real Estate

April 2, 2011 by · 1 Comment 

For anyone looking for their first home, Highland Indiana is a great place to start. A snapshot of the market revealed that there are presently 36 listings (15 condo / town-homes and 21 single family residences below $120,000 in Highland.

New Buyers Test the Water:

As we recover from the recession here is a short history: Condo prices hit bottom last July and are currently signaling an upturn. Single family residential prices in Highland Indiana hit their bottom more than a year ago and have actually had a decent rally since then, with median list price maintaining $156,450, for residences and $133,900 for condos. Remember that median is defined as the midpoint or center line, with basically 50% above and 50% below that line. Consequently out of the 92 single family and the 53 condo’s, half the properties will be above and half below the median.

Eagle Point Condo by Steve CardwellSome of Highland Indiana’s notable condo developments to are:

  • Eagle Ridge
  • Eagle point
  • Porte De Leau
  • Georgetowne
  • Spring Creek
  • Wildwood Terrace
  • Les Chateaux
  • White Oak Estates

If you are a busy professional, do shift work,  or just have a full social schedule, remember that in a condominium there is no yard work, snow shoveling, or repairs you are responsible for. These are all handled by your Property Owners Association and paid by your monthly assessments, often times along with your property insurance, internet and cable. Many town-homes also have this arrangement so your free time is all your own.

Another thing that makes Highland remarkable is the diversity of housing. If you are a bargain hunter wiling to deal with short sales and fixer-uppers, Highland has a few of these too.  But even the small 700 square foot properties are generally well kept. And while we have been discussing starter homes here, one of the other notable developments in Highland is at the opposite end of the price scale, the White Oak area, and it’s higher end cousins. We will feature these in a future post.

Highland Starter Ranch by Steve CardwellFeature of the week:

Check out this beautiful ranch in the Homestead Gardens subdivision with an asking price of only $122,500. Everything has been done: decorator painting, blown-in insulation, finished laundry room, new windows, roof, AC compressor. There’s a pool and shed, plus huge nature area behind the home. What’s not to love? I may be looking at this one myself, and I would enjoy hearing your feedback on it too. Call me for an appointment and we can check it out together.

 

 

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Steve Cardwell

Steve Cardwell is an Indiana Realtor working with residential buyers and sellers throughout Northwest Indiana. He likes to stay current on the housing market by analyzing real estate trends with a focus on the towns of Highland and Munster Indiana. His broker affiliation is Red Key Realty Leaders in St John, Indiana. Learn more about Steve and visit www.SteveCardwell.com.

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Comments

One Response to “First Time Buyers Find Choices In Highland Indiana Real Estate”
  1. Although condominiums are plentiful in the Highland Indiana real estate market, there is presently only 1 condo association that has been approved through the HUD Review Approval Process (HRAP) and 1 condo association that has been approved through the Direct Endorsement Review Approval Process (DELRAP). It should be noted that HRAP condos are the only unilateral accepted for FHA insured financing.

    Other finance options for condominiums are limited to 20% down conventional and/or portfolio lending which may or may not carry higher mortgage rates.

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