Area existing-home sales, prices escalate while inventories fall
The seller’s market in residential real estate grew even stronger in central Indiana in June, with existing homes selling at a faster pace and buyers spending extra to land properties.
Residential Real Estate
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Indianapolis-area home builders see biggest June since 2005
So far this year, 5,710 single-family building permits have been filed in the area, up 46% over the first six months of 2020.
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Incentives for multifamily project approved by council committee
The development, called 1202, would feature 105 units on a 1.1-acre parcel on the near-south side, with at least one-fifth of the units reserved for individuals making up to 80% of the area’s median income.
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Developers pitch plans for more than 300 new houses in Fishers
The Fishers City Council reviewed two petitions Monday seeking to rezone a total of 167 acres of farmland to make way for two neighborhoods along Florida Road, between 113th Street and Southeastern Parkway.
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Subdivisions push back against home sales to rental firms
At least 200 homeowner groups in central Indiana have modified their subdivision covenants in the past five years to limit rentals—a number that is based on the work of just one law firm.
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Articles
Indiana evictions could surge post-moratorium
A federal freeze on most evictions that was enacted last year is scheduled to expire July 31. Although no statewide data exists, Indiana housing experts estimated that roughly 13% of tenants—about 106,000 Indiana households—are at risk of eviction.
National real estate player Compass enters Indy-area market by landing 23 local agents
The New York City-based residential real estate firm, which went public in April with a $450 million IPO, said the local agents had more than $160 million in 2020 sales volume.
Slow trickle of rental aid heightens concern about eviction crisis
Weeks before an eviction moratorium put in place by the Centers for Disease Control and Prevention expires on July 31, much of the federal aid meant to help tenants and landlords has not reached them.
Builder Arbor Homes acquires local plumbing company
Arbor Homes, the most-active home builder in the Indianapolis area, said the acquisition of R&R Plumbing “will bolster the company’s existing efficient building processes.”
Backyard: Decorator and author Annie Kelly on living with swimming pools
Swimming pools can be the best place to be when you’re outside; they’re a great luxury and a place to keep fit.
Supreme Court leaves CDC eviction moratorium in place
As of June 7, roughly 3.2 million people in the U.S. said they faced eviction in the next two months, according to the U.S. Census Bureau’s Household Pulse Survey.
F.C. Tucker Co. acquired by regional residential real estate giant
The largest and oldest residential real estate brokerage in Indiana has been acquired by Pittsburgh-based Howard Hanna Real Estate Services, the biggest independent brokerage in the United States, the companies announced Tuesday morning.
Area homebuilders continue to see high demand for new houses
So far this year, 4,676 single-family building permits have been filed in the nine-county Indianapolis area, up 49% over the first five months of 2020.
Reviving a post-modern masterpiece in Indianapolis
The 8,000-square-foot house, built in 1988, has six bedrooms and 4-1/2 bathrooms. There’s a sun room with a huge jacuzzi, a custom kitchen, and a game room and a pocket bar—featuring bright blue counters and cabinets—built to house a bartender to serve guests.
Long-neglected parcel in northwest Indy soon to be filled with houses
Local firms Apex Realty Group LLC and Arbor Homes have partnered to build at least 60 houses on the property at the southeast corner of West 79th Street and Michigan Road, as part of a phased buildout for the development known as Augusta Heights.
Central Indiana existing-home sales, prices continue to escalate
On a year-to-date basis, closed sales are up 10.9% so far this year, to 13,666, compared with 12,320 in the first five months of 2020.
M/I Homes plans 138 townhouses, commercial office space on Westfield’s east side
M/I Homes of Indiana received approval from the Westfield City Council this week on a rezoning request for 28 acres south of State Road 32, so the property can be developed with 138 or so townhouses and up to 40,000 square feet of office space.
Developer floating $5M in townhouses made from 32 shipping containers
The homes at 1925 N. College Ave. are expected to be completed by mid-2022, since construction with shipping containers is far less reliant on weather conditions than building typical homes.
Twin Aire waits to see what Community Justice Campus will bring
Seven months before the bulk of the campus opens southeast of downtown, neighborhood residents are waiting to see if the promise of accompanying redevelopment comes to pass.
Quick sale: Newfields accepts offer for Westerley estate
The museum accepted an offer for the home at 3744 Spring Hollow Road that was above the $2.2 million asking price.
Newfields puts historic Westerley property on market for $2.2M
The museum has used the the four-bedroom, eight-bathroom Tudor-style home built in 1922 to house its leader. It’s the first time the property has been on the market since the 1930s.
Demand for new homes still growing despite rising construction costs
Builders in the nine-county Indianapolis area are seeing their busiest year since 2005 despite soaring lumber prices and snarled supply chains that have made it difficult to get products to complete new homes.
Complaint alleges discrimination in woman’s home appraisals
Carlette Duffy and the Fair Housing Center of Central Indiana filed complaints with the federal government, alleging appraisers violated fair housing laws. The appraisers, the complaints said, purposely used comparable sale prices that were unfair and racially motivated.
Onyx+East plans $10M townhouse project in Kennedy-King neighborhood
The proposal calls for seven three-story structures, with three buildings facing College Avenue, one facing 22nd Street and four occupying an interior area that surrounds a courtyard.