Area homebuilders off to slow start in 2022 despite demand for houses
Supply-chain issues, labor shortages and a lack of suitable lots are holding back sales, according to the Builders Association of Greater Indianapolis.
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Downtown apartment property sells for more than $120 million
The acquisition by Indianapolis-based Zidan Management Co. is believed to be the largest single-property apartment sale in Indiana history.
Home values soared during the pandemic, except for these Black families
Just one lower appraisal could affect the cumulative wealth of an entire community, according to a new Biden administration report on the causes, extent and consequences of property misvaluation.
U.S. plan aims to end racial, ethnic bias in home appraisals
The plan contains 21 steps to improve oversight and accountability, including a legislative proposal to modernize the governance structure of the appraisal industry.
Demand for vacation homes continuing to rise
The value of homes in nine of the top 10 most popular vacation towns are appreciating faster than the typical U.S. home, according to Zillow.
Biden administration to release plan to stop bias in home appraisals
The plan contains 21 steps to improve oversight and accountability, including a legislative proposal to modernize the governance structure of the appraisal industry.
Seattle firm to acquire part of Carmel-based Residential Warranty Services for $33M
Porch says it plans to acquire Residential Warranty Services’ home-warranty and home inspector software and services businesses. The deal is expected to close next quarter.
Existing-home sales hold steady in central Indiana amid rising prices
The median price for homes sold in the area last month was up 13.6%, to $253,245, compared with $223,000 in February 2021.
Local developers planning $60M apartment, retail project on Cultural Trail in Fountain Square
The site of a one-story, nondescript building in Fountain Square used sparingly for local White Castle operations soon could house a five-story building with nearly 200 apartments and six street-level storefronts.
New Lakeside Pointe, Fox Club owner to commit $7M to repairs, Rokita says
The dilapidated Lakeside Pointe at Nora and Fox Club apartment complexes in Indianapolis could see major improvements soon, Indiana Attorney General Todd Rokita announced Thursday.
Tony Stewart’s home, 415-acre hunting getaway, on market for $30M
The racing legend’s property in central Indiana includes a 20,000-square-foot luxury log-built house with an adjacent nine-acre lake.
Troubled Lakeside Pointe apartment complex acquired
Lakeside Pointe at Nora apartment complex—under threat of a city nuisance lawsuit—has a new owner. The former owner owed more than $225,000 for 600-plus housing code violations at the complex.
Treasury: Most COVID rental aid went to low-income residents
The Treasury found that more than 40% of tenants getting help were Black and two-thirds of recipients were female-headed households.
Cummins awards more than $1M to boost Martindale-Brightwood neighborhood
The grant will be used to fund mortgages to low-income residents who are buying one of 12 newly-constructed homes that are being built on previously-vacant properties in the neighborhood.
Central Indiana homebuilders off to slow start in 2022
Central Indiana homebuilders are coming off their busiest year since 2005, but January saw a big drop in single-family building permit filings.
Rents skyrocketing across United States with no end in sight
In the 50 largest U.S. metro areas, median rent rose an astounding 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms. Indianapolis-area rents have seen a smaller, but still significant, jump.
City, partners push forward with renter support despite setbacks
City officials say they’re focused on a “test case” nuisance lawsuit and funding a range of programs to tackle persistent challenges with habitability, affordability and legal aid for tenants.
Developer planning $98M housing, retail project at 96th and Allisonville
The project from Carmel-based developer CRG Residential would contain 380 apartment units, 66 townhomes for sale and 35,000 square feet of retail space. The firm also would donate 25 acres of land to beef up a recently announced city park along the White River.
Homebuyers face another obstacle as costlier loans sap affordability
Costs for 30-year loans hit a more than two-year high of 3.69% last week, rising about 20% just since Christmas. Further increases are expected as the Federal Reserve, trying to curb inflation, hikes its benchmark rate.
Rents are up 14% nationwide, forcing millions to find another place to live
In Indianapolis, rents increased 9% last year, to $1,280 per month. But in some cities, rent jumped by more than 40%.