The end of C.P. Morgan, the largest
central Indiana builder for a decade, will throw 1,200 home lots and options for 800 more onto an already flooded land market.
F.C. Tucker Co. has entered into an agreement with Shoopman Home Building Group in which 21 Tucker real estate agents will
staff model homes in seven communities Shoopman is developing.
Here’s something that passes as good news for central Indiana’s moribund housing market: Prices might hold steady this year,
after falling nearly 7 percent from their 2006 peak.
Davis Homes, one of the state’s largest home builders, fell victim to the tough housing market, ceasing operations July 23.
With credit tight and the economy shaky, homeowners around the region are increasingly choosing to sell their properties on
a lease-to-own basis.
The downturn in the housing market isn’t tough just on people trying to sell their homes. It’s also tough on the people
who want to help those people sell their homes–real estate agents. Locally, their ranks have thinned as
more and more leave the field to search for better prospects.
Residential real estate brokers are an optimistic bunch, finding plenty of room for hope even when the outlook is grim.
But lately, many of them are downright giddy, and for good reason: Evidence is mounting that a new $7,500
government incentive for first-time homeowners is starting to push buyers off the sidelines.
Charter Homes owner Jerry Jaquess fancies himself a white knight for King Park, a neighborhood once known mainly for its
rampant crime, boarded-up homes and vacant lots. But as he’s constructed a slew of homes and carriage houses there, the local
builder has stirred up several lawsuits, dozens of liens and persistent questions about whether his business is legit.
A depression in the home-building market has claimed a Fishers builder and continues to hammer locally based Davis Homes LLC–a
powerhouse for years that now is facing foreclosure on about 80 home sites.
For most of this decade, the Indianapolis residential real estate market enjoyed a good run. But in 2007 it muddled through
the doldrums just like the rest of the country, and builders pulled out all the stops to avoid getting stuck with inventory.
For most of this decade, the Indianapolis residential real estate market enjoyed a very good run. But now it’s muddling through
the doldrums just like the rest of the country, and builders are pulling out all the stops to avoid getting stuck with inventory.
Buyers in the market for million-dollar homes can afford to be choosy these days, as the softness in the overall market extends
to the high end, real estate agents say. Through the first quarter of this year, home sales in the 13-county Indianapolis
area fell nearly 12 percent, according to the Metropolitan Indianapolis Board of Realtors.
The inventory of central Indiana homes for sale is piling up, but the backlog so far hasn’t caused prices to fall, according to experts and industry statistics.
The Federal Trade Commission recently slammed the Austin Board of Realtors for how the Texas organization runs its multiple-listing service, charging that a policy change barring certain homes from Web search engines runs afoul of federal antitrust laws.
The Indianapolis Airport Authority has begun listing at www.indianapolisairport.com homes it acquired under its nearly decade-old “purchase assurance/sound insulation program.”
A new state law backed by Realtors that critics say stifles cut-rate competition already has prompted a discount brokerage, California-based HomeYeah!, to shutter its operations here.
