Home Sales

Local developer seeks bankruptcy protection

April 29, 2011
Scott Olson
Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.
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Estridge becomes division of national home builder

April 26, 2011
Scott Olson
The Estridge Group, which had operated in the Indianapolis area since 1967, has become part of Houston-based David Weekley Homes. Estridge had struggled in recent months to stay afloat during the severe housing downturn.
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Simon widow unloads pricey NYC condo, looks to sell Bel Air mansion

April 23, 2011
Cory Schouten
Bren Simon lost control over her late husband’s multibillion-dollar estate, but she sold a New York City condo for $48M in March, and is trying to sell a mansion in L.A. for $50M.
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Indianapolis-area home sales continue to slump

April 14, 2011
Sale agreements in the nine-county Indianapolis area fell 20 percent in March compared to the same month of 2010. Local home sales have been in a downward spiral for nearly a year.
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Home builder Estridge promises to finish homes, fight onRestricted Content

March 19, 2011
Anthony Schoettle
Paul Estridge Jr. says he’s in talks with three investors who are interested in keeping his company in business.
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Local home construction plummets again

March 16, 2011
 IBJ Staff and Associated Press
Home-building permits filed in the Indianapolis area fell by more than 40 percent in February compared with the same month last year. Nationally, builders broke ground last month on the fewest homes in nearly two years.
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Local home sales continue downward slide

March 11, 2011
Home-sale agreements in the nine-county Indianapolis area fell 16.7 percent in February compared to the same month in 2010, marking 10 straight months of declining sales.
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Builders offer new twist on move-up incentive

March 2, 2011
Kathleen McLaughlin
Instead of offering to help would-be buyers of new houses sell their old homes, Marketplace is offering to become a rental property manager for as long as six years.
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LEADING QUESTIONS: Real estate maven keeps swinging

February 24, 2011
Mason King
LQ Litten watch videoHow does the owner of F.C. Tucker Co. rally the troops during the home-sales slump? How did his tour in Vietnam reset his course? Why is his desk always so clean? Talk to Jim Litten; he has answers.
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Indiana home sales and prices rise in January

February 22, 2011
 IBJ Staff, Associated Press
The median sale price of homes across the state rose to $100,000 during January, up 5 percent when compared to the same month last year.
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Local home sales fall again

February 10, 2011
 IBJ Staff
Home-sale agreements in the nine-county central Indiana region fell 12.2 percent in January compared to the same month in 2010, the ninth straight month in which year-over-year sales slumped locally.
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Brenwick turns over commercial sales, leasing at Village of West Clay

January 25, 2011
Tom Harton
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
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Area home-sales slump continues in December

January 12, 2011
Scott Olson
Home-sale agreements last month dropped 15.4 percent compared to December 2009, capping a year in which sales overall dropped 10.9 percent from the previous year.
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Area home sales continue downward spiral

December 13, 2010
 IBJ Staff
Home-sale agreements in the nine-county central Indiana region dropped 17.5 percent in November compared to the same month a year ago, the seventh straight month that year-over-year home sales have slumped.
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Area homes sales down for 6th straight month

November 11, 2010
Home-sale agreements in the nine-county central Indiana region plunged 40.7 percent in October compared to the same month a year ago, according to a report released Thursday morning by F.C. Tucker Co.
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Home sales continue to slump, but prices rise

October 12, 2010
 IBJ Staff
Home-sale agreements in the nine-county area fell 22.8 percent in September when compared with the same month a year earlier, according to a report released Tuesday by F.C. Tucker Co.
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Lucas Oil owners to buy former Hilbert estate

October 6, 2010
Lucas Oil Products Inc. owners Forrest and Charlotte Lucas confirmed they were buying the property for $3 million at a news conference Wednesday afternoon. It will be used for "business activities and community functions."
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U.S. homes lost to foreclosure up 25 percent this year

September 16, 2010
Associated Press
August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. Banks have been stepping up repossessions to clear out their backlog of bad loans.
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Area home sales still falling

September 9, 2010
Home-sale agreements in the nine-county area fell 23 percent in August. The decline marked the fourth straight month home sales have fallen in central Indiana.
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Former Hilbert mansion draws local interest in auction

August 31, 2010
Scott Olson
Sealed-bid auction attracts a half-dozen bids from interested owners that are "more centrally located than you might think," said the listing agent.
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Area home sales slide again

August 11, 2010
July's 27-percent decline marked the third straight month that home sales have slumped in central Indiana following three straight months of improving sales spurred by generous federal tax credits.
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High-end home market hits foreclosure lullRestricted Content

July 24, 2010
Norm Heikens
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.
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Financial upheaval produced war stories galoreRestricted Content

July 24, 2010
Norm Heikens
The foreclosure epidemic has left a wake of carnage in the Indianapolis area.
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Local investors make big bet on senior housingRestricted Content

July 24, 2010
J.K. Wall
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.
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Indianapolis-area homes sales decline 10 percent

July 12, 2010
 IBJ Staff
However, average home-sale prices for the area sprouted 7 percent from the same month a year earlier, to more than $159,000.
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  1. Looking at the two companies - in spite of their relative size to one another -- Ricker's image is (by all accounts) pretty solid and reputable. Their locations are clean, employees are friendly and the products they offer are reasonably priced. By contrast, BP locations are all over the place and their reputation is poor, especially when you consider this is the same "company" whose disastrous oil spill and their response was nothing short of irresponsible should tell you a lot. The fact you also have people who are experienced in franchising saying their system/strategy is flawed is a good indication that another "spill" has occurred and it's the AM-PM/Ricker's customers/company that are having to deal with it.

  2. Daniel Lilly - Glad to hear about your points and miles. Enjoy Wisconsin and Illinois. You don't care one whit about financial discipline, which is why you will blast the "GOP". Classic liberalism.

  3. Isn't the real reason the terrain? The planners under-estimated the undulating terrain, sink holes, karst features, etc. This portion of the route was flawed from the beginning.

  4. You thought no Indy was bad, how's no fans working out for you? THe IRl No direct competition and still no fans. Hey George Family, spend another billion dollars, that will fix it.

  5. I live downtown Indy and had to be in downtown Chicago for a meeting. In other words, I am the target demographic for this train. It leaves at 6:00-- early but doable. Then I saw it takes 5+ hours. No way. I drove. I'm sure I paid 3 to 5 times as much once you factor in gas, parking, and tolls, but it was reimbursed so not a factor for me. Any business traveler is going to take the option that gets there quickly and reliably... and leisure travelers are going to take the option that has a good schedule and promotional prices (i.e., Megabus). Indy to Chicago is the right distance (too short to fly but takes several hours to drive) that this train could be extremely successful even without subsidies, if they could figure out how to have several frequencies (at least 3x/day) and make the trip in a reasonable amount of time. For those who have never lived on the east coast-- Amtrak is the #1 choice for NY-DC and NY-Boston. They have the Acela service, it runs almost every hour, and it takes you from downtown to downtown. It beats driving and flying hands down. It is too bad that we cannot build something like this in the midwest, at least to connect the bigger cities.

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