Real Estate

3 tips for navigating changing real estate market conditions in INDY

Presented by an INDYtoday partner

Aerial photo over a Sacramento, CA home, driveway, and street.

While you can’t always count on a hot housing market, you can count on the certainty of a cash offer from Opendoor. | Photo provided by Opendoor

Location, location, location — that’s been the name of the real estate game for decades. These days, though, you may be hearing more: recession, economy, inflation… terms that definitely have less appeal.

The real estate market is cyclical, and today’s market is currently trying to find out where it will land (albeit a bit dramatically). The difference? Unlike big market turns of the past, this time we’ve swayed quickly from one extreme to the other.

In just two short years, we’ve seen outsized home price appreciation in most US markets, followed by a swift decline in housing demand. The whiplash of these fluctuations (and the uncertainty about what happens next) can be hard to wrap your head around.

The good news is, even though none of us can predict what will happen next, that’s okay. If you’re a seller or a buyer (or both) currently stuck in the loop of dreaming, hoping, anticipating + dreading, the experts at Opendoor have three tips to help ride the wave.

Wide-angle view of a woman walking a dog in front of a row of brick townhomes in Dallas, TX. — In the absence of bidding wars, you have time to get to know a neighborhood, look at different housing options, and narrow in on your “must-haves”.

Tip No. 1: Don’t worry about finding the “perfect” time to sell or buy.

Hint: It doesn’t exist. The perfect time is what works best for you and your life. Some factors, like a growing family or a new job in another state, are an easy call. But other reasons require you to dig deep. Think:

Will a move improve your day-to-day life?
Will you gain more time, be closer to friends and family, or be nearer to activities that bring you joy?

Tip No. 2: Research your financing options.

The good news: You’ve got options. Whether you’re getting a new loan, refinancing, or looking to lower your payment, a mortgage calculator can help you figure out how much you can afford in minutes. There are also rate buydowns, which can help you lower your rate. Pro tip: A lender can help you figure out what your options are.*

TIP NO. 3

This content was created in partnership with Opendoor and written by Garcelle Vierra Erdie.*

If you’re house hunting (or considering it within the next 6 months), would the state of the economy cause you to stop or pause your search?

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Tuesday, Dec. 6

Hoagies and Hops Visit from Santa and Fundraiser | Tuesday, Dec. 6 | 5:30-7:30 p.m. | 4155 Blvd. Place, Indianapolis | Free | To celebrate the holiday season, Hoagies & Hops and Chilly Water Tap Room will donate 10% of food and beer sales to St. Vincent de Paul food pantry.
Pentatonix: A Christmas Spectacular | Tuesday, Dec. 6 | 7 p.m. | Gainbridge Fieldhouse | $25-$250 | Season 21 winner of “The Voice” Girl Named Tom will open the night for Pentatonix’s biggest show yet.

Wednesday, Dec. 7

Indianapolis Propylaeum Holiday Open House | Wednesday, Dec. 7 | 4:30-6:30 p.m. | 1410 N. Delaware, Indianapolis | Free | With holiday tunes filling the air, guests are welcome to sample hors d’oeuvres and choose from a selection of drinks.

Thursday, Dec. 8

Deck the Halls | Thursday, Dec. 8-Sunday, Dec. 11 | 6-8:30 p.m. | Benjamin Harrison Presidential Site, 1230 North Delaware St., Indianapolis | $14.95-$17.95 | Deck the halls and join the chorus while you learn about the origins of some of your favorite holiday carols at this historic site.

Friday, Dec. 9

IndyHub Coffee Club | Friday, Dec. 9 | 8-9:30 a.m. | The Speak Easy, 5255 Winthrop Ave., Indianapolis | Free | Sit down for candid conversations on how fellow Hoosiers have broken barriers in mentorship, professional development, civic engagement, and leadership.

We have a calendar filled with events and activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

100+ MORE EVENTS

Weather

47º | Mostly cloudy | 20% chance of rain

Traffic

In its latest update on the North Split project, INDOT said it could last until at least April 2023. The goal was to reopen by the end of 2022, but labor and supply chain shortages, along with the weather pushed it back. INDOT anticipates I-70 to open to traffic by early to mid-January and I-65 by the end of April. 🚧 (WRTV)
State Road 37 at 141st Street on the Fishers-Noblesville border will be temporarily changed to a “right-in, right-out” intersection due to a delay in converting it into a roundabout. It was part of a larger project that has already converted the SR 37 intersections at 126th, 131st, and 146th streets into roundabouts. (WISH)

Ranked

Indiana was ranked the “best state to start a business,” according to a report by Forbes. It credits low taxes, a reasonable cost of living, and a prime workforce for the state’s ideal condition for new businesses. Over the last year, Indiana has seen an increase of 4,229 small businesses, with a 83.6% survival rate. 📈 (Forbes)

Opening

A new mochi donut spot is coming to Carmel. Mochi Dough (110 W. Main St.) — specializing in handcrafted boba teas and mochi donuts — is celebrating its grand opening on Saturday, Dec. 10 from 11 a.m.-10 p.m. with BOGO free drinks. 🍩

Sports

The 2022-2023 college football bowl season is almost here. There are 43 games leading up to the College Football Playoff national championship in Los Angeles on Monday, Jan. 9. Indiana’s Notre Dame will take on South Carolina on Friday Dec. 30 and Purdue will face off with LSU on Monday, Jan. 2. 🏈 (ESPN)

Announced

Emmis announced the sale of its magazine, Indianapolis Monthly, to Michigan-based media group Hour Media. Indianapolis Monthly was founded in 1977 and was the last magazine to be owned and operated by Emmis. Earlier this year, Emmis sold its group of Indianapolis radio stations to Urban One. 🗞️ (IndyStar)

Edu

Marian University in Indianapolis is working to combat the doctor shortage by offering new scholarships in hopes of getting more students into their Osteopathic School of Medicine. According to the US Department of Health and Human Services, the Hoosier state is short more than 1,000 doctors. Learn more. 🩺 (WRTV)

Trending

One of the biggest events during the month of May — aside from the Indy 500, of course — sold out in record time. Rev Indy, an annual event that raises money for IU Health patients, will be celebrating its 10th anniversary on May 6, 2023. If you didn’t score tickets, you can join the waitlist. 🏁 (WTHR)

Show

For the first time in more than a decade, the Blue Angels will streak across Indiana skies today in preparation for the 2023 Crossroads Air Show. If you’re near the Indianapolis Regional Airport at 2:30 p.m., look up and you may see the Blue Angels’ arrival. The aviation event will be in Indy on Oct. 28-29, 2023. 🛩️

Eat

Treat your friends, family, or coworkers to dinner on you this year with a gift card valid at any Huse Culinary restaurant (St. Elmo Steak House, Harry & Izzy’s, 1933 Lounge, and HC Tavern + Kitchen). Plus, get a 20% bonus gift card with gift card purchases of $125+.*

Holiday

Looking for a seasonal staycation? Enter the Downtown Indy Ultimate Overnight Getaway for a chance to win an overnight stay at JW Marriott, tickets to holiday attractions like the Eiteljorg Museum’s Jingle Rails + more, and dinner at Cunningham Restaurant.*

Seasonal

Your Monday morning holiday gift inspiration, courtesy of Etsy: For the person who loves bread. For the person obsessed with their pet. For the person who can take a joke. For the kid who loves to color. Plus, all you need is popcorn or all you need is marshmallows. 🎁*

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Let’s get wild 🐵

Indianapolis Zoo announces $53 million campaign

INDY_Indianapolis Zoo chimpanzee_DEC2022

The campaign will give visitors a unique view of the chimpanzees and advance the animals’ care. | Rendering by Indianapolis Zoo

The Indianapolis Zoo announced “The Campaign for Our Zoo, Our Community, Our World” — a $53 million capital investment that will fund a few major initiatives taking shape at the zoo over the next couple years.

The project will highlight a new guest Welcome Center experience that will expand guest capacity by taking visitors through the White River Gardens and into the new Global Center for Species Survival. This space will include a new International Chimpanzee Complex with a goal of fully engaging visitors and allowing them to make a personal connection with chimpanzees.

The zoo reached 60 percent if its campaign goal and the guest Welcome Center entry experience and Global Center for Species Survival is planned to open Memorial Day weekend 2023. The International Chimpanzee Complex will open summer of 2024. You can donate to the campaign here.

In the meantime, spend the holidays with your favorite critters during the 54th annual Christmas at the Zoo. This year, the event will run now through Friday, Dec. 30 from 5-9 p.m. for the cost of regular admission. Get your tickets.

THE WRAP

Today’s issue was written by Nicole.

Editor’s pick: Looking to get out after work tonight? I’ll be hosting my first-ever “Dating Indy” event at Tinker House (1101 E. 16th St.) from 6-8 p.m. The whole purpose of this event is to create a fun environment for you to get out and meet new people, places, and businesses in the city. I’m super excited and would love to meet some INDYtoday readers there. Learn more about the event.

Missed Friday’s newsletter? Solve this local crossword.

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Editorial: Anna Bowman, Nicole Hernandez, Sarah Leonhardt, Josh Kranzberg, Emily Shea | Send us a scoop, question, or feedback.

Sales: Nicole Fancher | Advertise with us.

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