Real Estate Agent · Detroit, MI · Member since 2014 · 25 posts · 6 votes
BP,
My wife and I are moving to Indy and are looking for information about the market there. We will be leasing until we get there and can learn about the market. We'd like to stay close to downtown but the prices are high. I've heard Fountain Square, Bates-Hendrix, and Meridian Kessler are good neighborhoods. We are looking for a decent neighborhood that may still have some growth potential. Can someone help me with market knowledge and intel?
Real Estate Consultant · Whitestown, IN · Member since 2014 · 547 posts · 933 votes
9y
I have quit recommending FS to my clients as it appears that it may be at the beginning of a bubble. There are still some good deals there and the rental market is very strong, but anything that says "near Fountain Square" is going into a bidding war by investors. This is driving up the prices and I am unsure how sustainable it is.
Bates-Hendricks and Meridian Kessler don't have near the drive on pricing, but they are not cheap to get into.
Some of the up and coming areas that I am seeing investment activity is around Christian Park, Garfield Park, and the Mapleton Fall Creek areas. Even the worst areas in Indianapolis two years ago are becoming viable. There are still tough areas and tough blocks in decent areas, but a lot of that is changing every year.
Hey! Welcome to BP! I second Ross' comments about how hot those markets are. I'd be worried if I were buying there now. If I were new to town and looking at a 10-15 year hold period, I'd be focussing on the Red Line. I think prices are going to go up substantially within a couple of blocks of the route.