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Home sales pick up for second straight month

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Home-sale agreements in the nine-county Indianapolis area rose 16 percent in June compared with the same month a year ago, marking the second straight month of year-over-year increases after 14 months of declining sales.

Sales agreements climbed to 1,967 last month, up from 1,694 in June 2010, according to a report released Tuesday by F.C. Tucker Co.

The back-to-back increases were the first year-over-year rises in home-sale agreements since April 2010, when potential homebuyers rushed to sign contracts prior to the expiration of a generous federal tax credit. The special credit provided up to $8,000 for first-time homebuyers and $6,500 for some repeat buyers.

Sales fell dramatically last year after the tax credit ended, depressing residential real estate transactions for several months afterward.

While much higher than a year ago, June’s sales were 14 percent below what they were in the same month of 2009.

Year-to-date sales agreements are down 9 percent compared to the same period of 2010.

Marion County saw a 13-percent rise in June sales agreements from a year ago, from 781 to 886. Hamilton County deals rose 23 percent, from 328 to 402. Madison County saw a 33-percent increase, from 83 to 110.

Available homes for sale in the nine-county region dropped 7.5 percent in June, with 15,722 homes on the market. Marion County’s inventory dropped 11.5 percent.

Year-to-date sales prices are up 0.5 percent in 2010, from $147,257 to $148,030.

So far this year, sales agreements have been reached on 62 homes in the area priced at $500,000 or more.


 

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  1. First, the Athenaeum is going to have to get past the hurdle with the Lockerbie residents and the agreement that the parcel would be residential. Second, and in my opinion, this prime piece of property should include parking, PLUS, a black box theater(s), some market rate and affordable artist housing and a plan to renovate and reconfigure the second story theater. I would negotiate to add the DeHaan property surface parking lot into the development mix, place a one story surface parking garage on the DeHaan lot on the street level (for the Dehaan tenants use during the daytime) and add a second story to the garage that would become an addition to the current second story theater and then change the direction of the theater by moving the stage across the alley and on top of the DeHaan lot parking. You can add all the stage elements that are currently missing from the Athenaeum stage to make it more attractive for use by Ballet, Opera and traveling productions. Plus, the theater changes would probably help solve some of the soundproofing issues. Alas,it does not seem to be a part of the strategic plan to conduct a study to determine best use of the property. Seems like the current plan is a quick and easy move that ignores the property best use/potential and any strategic property planning for the effect on future generations.

  2. I recall that MSA's pilings are still in the ground and hard to remove. It’s not likely any proposal will include significant underground construction/parking because of this. Start adding 2 floors of retail, 8 floors of parking and 5-10 floors of possible hotel, and/or 10-20 floors of residential, and you are at 30 floors already with possible expansion of all the uses. But then again I could be wrong.

  3. Accoriding to their website there is no deadline to the Do Not Call list. What is this article referring to??

  4. On what planet are they entitled to this largesse from the stockholders? These people make multi-million dollar salaries: Pay for your own personal travel.

  5. It matters because they're already paid enormously fat salaries: Pay for your own personal travel. Being "taxed on it" isn't a valid excuse--so what? They're still being gifted a raft of luxury perks from somebody else's money on top of an enormous, lavish salary.

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