Until this year, Indiana’s foreclosure epidemic knew no demographic boundaries. But suddenly that’s changed. Since March,
not a single foreclosure on a house priced at $1 million or more has been filed in the Indianapolis area—a possible
sign of better times for uber-expensive homes.
With the first baby boomers set to turn 65 in six months, investments in senior housing are heating up. A group of Indianapolis-area
professionals—including Mark Waterfill (left) and Tony Schantz—have banded together to launch three senior housing
projects around the state, spending $49 million and looking
to do more.
However, average home-sale prices for the area sprouted 7 percent from the same month a year earlier, to more than $159,000.
Auction turns up no buyers for the former home of the commanding general at Fort Benjamin Harrison and four condominiums at
the old Army base.
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
Purchases of new homes in the United States fell in May to a record low as a federal tax credit expired, showing the market
remains
dependent on government support.
Pending home sales fell 31.5 percent last month, following expiration of the federal home-buyer tax credit.
The former home of the commanding general at Fort Benjamin Harrison and four condominiums at the old army base are being auctioned June 17, a reflection of the difficulty of selling high-end condos in a soft real estate market.
Sales of previously owned homes rose 7.6 percent in April, the best showing in five months.
Indianapolis Downtown Inc. is launching a new monthly event to encourage more people to live downtown just as real estate
brokers say interest in available homes is picking up.
Home-sale agreements surged 33.8 percent in the Indianapolis area in April as buyers rushed to beat the deadline for federal
tax incentives.
Homes sold in the first three months of the year totaled 4,634, a 1-percent increase from the 4,593 in the
same period last year. However, total sales volume jumped 12 percent, to $637 million.
The Commerce Department's report on new home sales Friday is forecast to show a 7.1 percent increase to a seasonally adjusted
annual rate of 330,000, according to economists polled by Thomson Reuters. That's up from an all-time low of 308,000 in
February.
A total of 242 homes in the nine-county area sold for at least $250,000 last month, an increase of 23.5 percent from the same
time last year.
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
Sales agreements in the nine-county area rose last month by 10.6 percent, compared with the same month last year, while prices
jumped 12.1 percent.
The Treasury Department says potential Indiana homeowners have only until May 1 to take advantage of the First Time Homebuyer
tax credit before it expires.
This spring’s Parade of Home is being held about two weeks earlier than normal to help builders lure homebuyers who want to
take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking
chances on more spec homes.
Luxury home sales in central Indiana surged in February despite an overall decline in home sales, Re/Max of Indiana reported
Monday morning.
Specialized bar codes will be on Carpenter materials ranging from print advertisements to yard signs.
