Home repossessions rose in 29 states and the District of Columbia in November, led by an increase of 96 percent in Indiana. However, the number of homes starting on the path to foreclosure declined to the lowest level in six years.
Former Indiana University and NBA basketball player Alan Henderson got approval to build a home on Indianapolis’ north side in spite of fierce opposition from neighbors.
The National Fair Housing Alliance alleges in a lawsuit that four of the local apartment developer’s properties violate Fair Housing Act accessibility requirements.
The law, passed in 2009, says Hoosier homeowners will lose their deduction beginning in 2013 if they don’t complete and return a homestead verification form by Jan. 1.
The auction of one of the oldest remaining family farms in southern Indiana was watched closely by farm and preservation advocates.
The number of single-family building permits filed in the nine-county area climbed 43 percent in November, the fifth straight month of year-over-year increases, according to the Builders Association of Greater Indianapolis.
Authorities have ordered the 29 residents of an Anderson apartment complex to leave their homes until gas leaks found in all five of its buildings can be repaired.
Aasif Bade of Ambrose Property Group, Tadd Miller of Milhaus Development and Joe Whitsett of The Whitsett Group saw opportunity as many rivals retrenched.
State Rep. Ed Clere plans to introduce a bill that would give municipalities explicit powers to create land banks, which can sell surplus property for redevelopment. He also wants to include a revenue source to support land-bank operations and eliminate tax-foreclosure sales as a form of investor speculation.
The three complexes are Dogwood Glen Apartments on the city’s northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
The Re-Development Group Inc. bought a1.6-acre site at New York Street and Highland Avenue last May and will raze three 1960s-era office/warehouse buildings to make way for home construction in 2013.
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
Home-sale agreements in the nine-county Indianapolis area rose 20.6 percent in October, the 18th straight month of year-over-year improvement in sales contracts.
Insight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North streets. But the fate of the second phase is up in the air because its financing had been tied to a project Insight and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department headquarters.
An INDOT spokesman said the state sometimes has to shell out more than the appraised value to encourage land owners to sell.
The $25 million purchase ranked as the 12th-largest residential sale in New York City last year, according to the real estate website Curbed NY.
The Builders Association of Greater Indianapolis said October’s jump marked the biggest year-over-year increase this year. Activity was strongest in Hamilton and Hendricks counties.
Omaha-based Berkshire Hathaway Inc., through its HomeServices of America unit, bought a majority stake in the Prudential and Real Living real estate franchises from Brookfield Asset Management.
Indianapolis last year sold 154 properties from its land bank for $1,000 each to a novice not-for-profit, which immediately flipped them for a total $500,000 profit. More than a dozen have changed hands multiple times since then, making investors more than $1 million. (with interactive map)
PulteGroup Inc. has purchased 24 acres in the Anson development near Whitestown in Boone County and plans to build 36 homes. Long-range plans call for 255 homes on 145 acres.
