Lowe’s disappoints analysts with weak sales growth
One day after retailer Home Depot reported record earnings that signaled an improving U.S. housing market, competitor Lowe’s reported weak sales growth and cut its profit expectations for the year.
Residential Real Estate
Articles
Area home builders see eighth straight month of rising sales
Demand for new homes continued to rise locally last month, according to figures reported Wednesday by the Builders Association of Greater Indianapolis.
Trees cleared from senior-living site without proper permits
Developers that stripped a high-profile parcel on the north side of its trees months ago to prepare the site for a $13 million senior living center did so without receiving proper permitting.
Peer-to-peer housing debate hits area communities
Indianapolis-area communities stayed out of the home-sharing-platform debates—until Zionsville ordered a couple to stop offering an apartment above their garage to out-of-town guests.
U.S. homeownership tumbles to its lowest rate since 1965
U.S. homeownership has fallen to its lowest mark in more than 50 years as rising prices put buying out of reach for many renters.
Existing home sales, prices rise amid tightening inventory
Existing-home sales in central Indiana increased 5.4 percent in June and the average price rose to $203,913.
Council gives city say in $260M Mass Ave project
The city will have one year to negotiate a project agreement with Hendricks Commercial Properties, which has proposed a $260 million development on the lot at the corner of College and Massachusetts avenues, or be forced to buy the property from IPS.
Area home builders off to best first half since 2007
Area filings have risen on a year-over-year basis for the past seven months.
Low appraisals torpedo sales in hot residential market
A low inventory of homes for sale is driving up prices to the point that many sellers are fielding multiple offers, some for even more than the list price, making it harder for appraisers to determine a fair market value.
Indy property management group accused of discriminating against families
The Indianapolis-based company is accused of discriminating against families by imposing occupancy limits regardless of square footage.
Originally listed for $25M, Simon estate in Carmel might finally have buyer
Homebuilder Paul Estridge Jr. has been in discussions about acquiring the sprawling 106-acre property on Ditch Road, according to a source familiar with the deal.
Developers of $50M Mass Ave project drop billboard from design
Plans for a controversial three-story “digital canvas” have been dropped from the Mass Ave development’s design. Developers also replaced the Montage on Mass name with a different one.
Firm redeveloping ex-Coca-Cola plant faces daunting preservation challenges
A specialist in terra cotta will assess the integrity of the structures and suggest options that could range from on-site reinforcement and preservation to off-site storage and eventual reconstruction.
Zionsville rejects proposed $30M downtown mixed-use project
The potential development, known as 200 West, would have included a mix of single-family homes, multifamily housing and a commercial section on a 4.3-acre property to the west of Sycamore and Main streets.
Country club land along White River to be preserved in $2.7M deal
Club directors chose to sell 12.5 acres to the Central Indiana Land Trust after considering an offer from a local developer who wanted to build homes on the property.
UPDATE: Builder, trade groups sue Greenwood over new design standards
An Indianapolis-based home builder and two trade associations have filed a lawsuit against Greenwood, claiming the city has adopted architectural standards on new houses that will drive up prices so significantly that the costs would preclude home ownership for thousands of residents.
City Securities’ lesser-known sibling sells
The parent of City Securities Corp. has sold its biggest subsidiary to a New York-based real estate holding company, a move that’s expected to give the niche operation room to grow.
Developer plans $20M apartment project on Fountain Square block
Nearly an entire city block in Fountain Square soon could be redeveloped, with five old buildings getting torn down and a new five-story project springing up with retail space and 94 apartments.
Indiana gets more than $600,000 in federal housing grants
The money will be used to make repairs and improvements to public housing units, as well as providing housing counseling to struggling consumers.
Residential Real Estate: Marketplace
Housing Sales March 1 – May 31 MORE FROM IBJ Click here. The housing market is hot but the challenge is a lack of inventory, said F.C. Tucker Co. President Jim Litten. Currently, there are about 9,000 listings in central Indiana, although about 20 percent of those are under contract with an agent accepting […]