Area existing-home sales fall for eighth time in past nine months
On a year-to-date basis, closed sales are down 1.5% in the 16-county central Indiana area, to 23,631.
Residential Real Estate
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Is Westfield growing too fast?
As Westfield’s housing stock and population balloons—following the rapid growth Carmel and Fishers have experienced for more than a decade—some residents are concerned too much development is coming too fast. And they’re pushing back.
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Owner proposes 22-story addition to downtown’s Morrison Opera Place
Plans for the development include a 220-room hotel and 32 residential units. The addition would boost the existing historic building from four to 26 stories.
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Developer Litz & Eaton split leaves messy trail
Five years after the prominent developer upped its business ambitions—going from a home-renovation firm to high-end, multi-home projects—the firm is unraveling.
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Downtown’s E’laan apartment building set for sale, $5M expansion
An upscale apartment building in downtown Indianapolis is expected to be acquired at the end of this month by a local firm that is planning an expansion project that will almost triple the number of units in the property.
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Articles
Carmel weighs 64 percent increase to park impact fees charged to builders
City planners say the higher fee would help pay for future land acquisition, a park expansion and improvements along the White River. Builders are concerned about the added cost.
Area home builders see busiest August in 12 years
It was the second month in a row of year-over-year increases for single-family construction permit filings following seven straight months of declines.
Pulte proposes 490-home development for seniors in Westfield
The homes—mostly ranch-style—would be located on land currently used for agriculture north of 146th Street.
One of Carmel’s oldest neighborhoods fighting to stave off redevelopment
Homeowners in Johnson Addition, which was built in the late 1950s and early 1960s, say their neighborhood is charming and one of the few affordable neighborhoods left near Carmel’s downtown—and they want it to stay that way.
Treasury unveils plan to privatize Fannie Mae, Freddie Mac
The administration’s plan calls for returning Fannie and Freddie to private ownership and reducing risk to taxpayers, while still preserving homebuyers’ access to 30-year, fixed-rate mortgages, a pillar of housing finance.
Historic preservation commission votes to protect Drake Apartments
The Indianapolis Historic Preservation Commission voted Wednesday night to put a historic designation on the eight-story apartment building owned by The Children’s Museum of Indianapolis amid concerns the structure might be torn down in coming weeks.
Kite’s $40M apartment project at Glendale gets city approval
The city’s Metropolitan Development Commission on Wednesday gave Kite Realty Group the necessary approvals it needs to proceed with its plan build a 267-unit apartment complex adjacent to Glendale Town Center.
All-Star Real Estate Agents: The Indy area’s top teams and solo sellers
Three veteran real estate agent teams solidified their lock on the top three places in IBJ’s All-Star team rankings for the fourth straight year, with Dennis Nottingham’s Indy Home Pros Team taking the No. 1 spot. Jennil Salazar of RE/MAX Ability Plus is the new top IBJ All-Star solo agent.
How to be a buyer in a seller’s market
This summer, houses in central Indiana sold after being on the market an average of just one month, half the time of homes sold in 2015. And that’s the average of all houses. Those that are move-in-ready and in desirable neighborhoods—the kinds of homes most buyers are looking for—are often sold within hours or, at most, a few days.
Arts-and-crafts homeowner in Greenfield keeps it authentic
Former Navy nurse Bob Morrison developed a taste for arts-and-crafts-style homes while serving on the West Coast and found the perfect outlet for that passion back home in Indiana.
Residential Real Estate: Marketplace Stats for August 30, 2019
Housing inventory remains low at just 1.6 months, meaning that’s how long it would take to sell the region’s available housing. That’s down 5% from a year ago, when inventory was already tight.
Banks fire up mortgage machines for expected refinancing boom
The mortgage industry has added almost 5,000 employees since March. It’s a stark reversal from a year ago, when the Federal Reserve was hiking interest rates and banks were cutting thousands of jobs.
Report by city makes case for more apartments in Fishers
The study found that 15.5% of the residential units in Fishers are apartments, lower than the national average of 22%.
Central Indiana home builders snap 7-month slump with big July
It was the most-active July for single-family construction permit filings since 2006, when 746 permits were filed during the month.
Area existing-home sales break out of seven-month slump
The median sales price for an existing single-family home in the Indianapolis area increased 10.1%, to $200,295, marking the third straight monthly record.
Greenwood apartment complex sold to out-of-state investors for $40M
Copper Chase, one of the largest apartment complexes in Greenwood, received nearly 20 offers, including several from companies looking to make their first foray into the Indianapolis multifamily housing market.
Council committee stalemate could stall plans for $66M apartment development
The Metropolitan and Economic Development Committee of the City-County Council could not reach a consensus Monday on a recommendation for a long-delayed 11-story downtown project at 421 N. Pennsylvania St.
Area homes sales fall for 7th straight month amid rising prices
Median home prices in central Indiana reached an all-time high in June amid tighter inventories and fewer new listings.
Central Indiana homebuilding slump reaches seven months
Applications for home construction fell 13% in central Indiana in June, marking the seventh straight month of declining permit filings.