Former real estate broker faces felony charges
The Marion County prosecutor’s office said David Garden was charged with corrupt business influence, 11 counts of forgery and 15 counts of theft.
Residential Real Estate
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Aging suburbs facing long road back
Poverty is encroaching on the outer townships of Marion County, adding to their handicap in the competition with doughnut counties, where houses are newer, and sidewalks, sewer connections and bike paths come standard.
Existing-home sales sink for eighth straight month
Home-sale agreements dropped nearly 20 percent in the nine-county Indianapolis area in April. Home prices continued to rise as inventories shrank.
Homebuilders see third straight month of rising demand
On a year-over-year basis, home-construction permit filings in the nine-county area have risen in 13 of the last 16 months.
Luxury Clearwater apartment complex on market
82 Flats, which opened last year and is 95-percent occupied, could fetch $35 million for its developer, Cityscape Residential, formerly known as Hearthview Residential.
Mortgage rates sink to 2014 low
Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers, while many homeowners are reluctant to list their properties for sale.
Flaherty becoming mixed-use master
Developer’s Flaherty & Collins is gaining a reputation developing trendy projects, the latest of which is a 28-story retail and residential tower on the site of the former Market Square Arena.
City cites apartments for hundreds of violations
Five local apartment complexes and one owner of multiple rental properties were accused of unreasonably consuming city, public, and law enforcement resources.
Council advances smoke-detector requirement
Indianapolis homeowners and landlords would have to buy smoke detectors with non-removable, non-replaceable batteries under a proposal that’s advancing through the City-County Council with bipartisan support.
Sales of U.S. existing homes sink to 20-month low
The sharpest sales increase occurred among homes priced at $1 million or above. Sales fell in nearly every other price group.
Removing false homestead exemptions to yield bonanza
Marion County stands to receive tens of millions of dollars from property owners who’ve been claiming false homestead deductions when this spring’s tax bills are collected.
Carmel neighbors up in arms over plans for Monon Lake
M/I Homes of Indiana’s plans to develop a 43-home community on heavily wooded property along the Monon Greenway is facing opposition from neighbors and members of the Carmel Plan Commission.
Existing-home sales slide for seventh straight month
Home prices rose, however, as inventory dwindled. The average area home price in March was $161,191, an increase of 6.1 percent compared with the same month of 2013.
Area home- construction permit filings back on the rise
The central Indiana home-construction industry saw its second straight month of improving activity in March following a bitter winter that slowed business.
Construction season finally looms for high-end Carmel apartments
Local developer Pittman Partners and multifamily specialist Barrett & Stokely Inc. are moving forward with plans for a $35 million apartment community near the Monon Greenway in Carmel.
Trailer parks lure ex-traders eyeing double-wide returns
Former hedge-fund executives who left Wall Street are finding new ways to milk profits from old trailer parks, including one in Indianapolis.
Revamped hotel key to Muncie revitalization efforts
The 91-year-old Roberts Hotel building has undergone a $17 million renovation that created the 83-unit Lofts at Roberts development. The project was crucial to the city’s ability to attract a new downtown hotel.
Growing demand for apartments pushing up rents
With demand for apartments surging, rents are projected to rise for a fifth straight year. Even a pickup in apartment construction is unlikely to provide much relief anytime soon.
Banks see resurgence of home equity loans
Although mortgage-refinancing applications are down, the product reviled and thought extinct after the 2008 housing crash that decimated property values may save the day for lenders: the home equity loan/line of credit.
Bloomington council backs Habitat neighborhood
The Bloomington City Council is giving permission to a Habitat for Humanity group to develop a neighborhood with 35 homes.