A example of the Average Yearly Commitment Rates on 30-Year Fixed Loans. According to statistics provided by Freddie Mac.

The June 2010 Market Report of BLC® listing service data reveals increases in all areas for the 3, 6 and 12-month periods ending in June with the exception of the most recent pended homes sales.

Units sold were up 10 percent – a slowing from May’s three-month report which revealed a 15 percent increase – but pendeds for the April-June period were down five percent.  

Average and median sales prices continue to increase when compared to last year, but have still not returned to the more robust numbers of 2007 and 2008.  

Sales of single-family homes across Central Indiana area rose for a third straight month in May, showing signs of a real estate market that is benefiting from seasonal spring home buying apparently bolstered by transactions incentivized by the federal government’s homebuyer tax credit that expired on April 30 according to new monthly data compiled by RE/MAX of Indiana.

     Total Homes Sold + 13.17%  

     Pended Homes - 32.13%

     Average Sales Price + 7.14%

     Median Sales Price Moved From $123,000 to $130,000

     Total Active Listings + 2.65%

     6.8% Months Of Listing Inventory On The Market Now

At $130,000, the May median home price—the figure at which half of the homes sold for more and half sold for less—rose 6 percent from one year earlier to the highest level since July 2007. That’s the fourth straight monthly increase in the median price.

I went to the track this past weekend for pole day and wanted to let everyone know that it was very exciting.  I was with a number of friends and we all enjoyed the experience.

If they keep the similiar format for qualifing next year, I will plan to go again and suggest that you consider the same - it was fun!

Overall April sales of single-family homes across Central Indiana climbed 15.74 percent compared to April 2009, according to the latest monthly data compiled by RE/MAX of Indiana. All single-family home pricing segments except the under-$100,000 market experienced gains, with the sharpest increases in homes priced from $500,000 and above.

Month-end pending sales for April—those listings expected to close within the next 30 days—totaled 3,052, up 33.39 percent from last year. That represents the highest number ever recorded for an April in the Broker Listing Cooperative (BLC®) for Central Indiana.

The average price of a single-family home appreciated for the sixth straight month, reaching $141,229, up 14.7 percent versus April 2009. At $120,000, the April single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 14.29 percent from one year earlier. That represents the 6th consecutive monthly increase in median price.

April sales of all single-family homes in Central Indiana totaled 2,338, up 15.74 percent from April 2009. The increase is the second consecutive monthly increase in sales. Broken out by segment, sales of single-family homes priced between $250,000 and $500,000 rose 28.7 percent in April while sales of luxury homes—those priced from $500,000 to the millions—soared 140 percent.  Homes priced between $75,000 and $150,000 were up 25 percent while those in the $150,000 to $250,000 range rose 51 percent. By contrast, sales of homes in the below-$75,000 segment were off 24 percent.

A bill in the legislature has required that these forms be mailed out with the property tax bills in 2010, 2011 and 2012 and they must be completed and returned by every homeowner who wishes to claim a homestead deduction on their property.  Property owners have until January 1, 2013 to return the card.
Why?  These cards and the legislation requiring them are aimed at cracking down and preventing homestead fraud.

This form has not been widely publicized and can easily be overlooked as bureaucratic paperwork, so please pay extra attention when opening your property tax bills.

A Few Commonly Asked Questions

I didn't find the form in my property tax bill?
Though some counties may choose to, they are only required to include the form to taxpayers already claiming the homestead deduction.

If I don't fill it out by January 1, 2013, will I automatically lose my deduction?
If you don't complete the form by the deadline, you will receive a final notification letter from the county and your deduction could be removed on your 2012 - pay - 2013 property tax bill.

Here is the link to the Form if you need one.

http://www.in.gov/dlgf/files/TS-1_2010_Homestead_Certification_Non-Filled.pdf

Summary

• Sales of single-family homes totaled 1,997, up 6.7 percent from March 2009.
• 5,041 homes came onto the market in March, rising 22 percent compared to March 2009 and a 44 percent surge from the previous month.
• Month-end pending sales-those listings expected to close within the next 30 days- totaled 2,502, which is 10.3 percent higher than last year 
• The month's inventory of single-family homes for March came in at 8.0 months, down from 8.4 months one year earlier. Sales of homes priced $500,000 and above jumped 44%. 

At $115,000, the median sales price for single-family homes rose for the fifth consecutive month, up 6.7 percent from March 2009 and up 8 percent from the previous month.

The average price of single-family homes in March was $140,104, an increase of 10 percent from one year earlier. That represents the fifth straight monthly jump in the average price. 

You will see that the Waterfront Stats are looking pretty good - compared to recent years.

If you are considering a Purchase OR Sale - please feel free to call or email me.  I have 25 years of sales experience here in our area.

The number of Sales and Pending Sales are down from the same time last year, but two Averages are up noticeably.

The Average Home Sales Price is up from $120,850 to $135,519, which is a 12.14% increase.

The Medium Home Sales Price is up from $86,900 to $100,000, which is a 15.07% increase.

In January 2010 there were 3,980 homes listed, an 11 percent increase compared to the same month last year.  The first positive increase since February of 2008.

Foreclosure property sales reported in the Broker Listing Cooperative (BLC) fell by 38 percent in January compared to one year earlier. 

TIME IS RUNNING OUT: Anyone that hasn't owned a home in the past 3 years could be eligable for the Federal Tax Credit up to $8000.  All qualified buyers must have an accepted offer by the end of April and must close by the end of June 2010.

The purpose of the survey is to get a physical count of the people in each household. Here are some tips from the Better Business Bureau:

You will first receive a questionnaire in the mail. If you fail to respond a census worker will visit you.   If that fails you may receive a phone call, but you will never be contacted by e-mail.

If they come to your house verify the U.S. Census worker is who they say they are.  Each U.S. Census worker will have a badge, a handheld device, a Census Bureau canvas bag and a confidentiality notice.

Ask to see their identification and badge before answering their questions.  U.S. Census workers are currently verifying address information.

U.S. Census Bureau will not ask for Social Security, bank account or credit card numbers nor will employees solicit donations.

Do not give your Social Security number, credit card or banking information to anyone, even if they claim they need it for the U.S. Census.

Do not invite anyone you don’t know into your home.  The survey is very short. It is 10 questions that shouldn’t take more than 10 minutes.

To see a list of the questions please go to 2010 U.S.

Census at http://2010.census.gov/2010census/how/interactive-form.php

Source: ID Theft Assist

The 4th quarter housing market in the Indianapolis area flourished with homes posting a dramatic rise.  Home sales were up 15 percent from 4th quarter 2009 versus 4th quarter 2008.  Buying activity in nine counties surrounding Indianapolis indicates that improved affordability is prompting many first-time buyers to get off the fence, out of their rentals, and into the market.  

A look at county-by-county increases in 2009 home sales from October to December provides some of the details:

Boone       UP    56%   to       211

Johnson     UP   31%   to       477

Hamilton    UP   28%   to     1,131

Shelby       UP   27%   to       109

Hendricks   UP   16%   to       449

Marion       UP   15%   to     2,811

Madison     UP   15%   to       330

Hancock    UP   14%   to       229

Morgan      UP   11%   to       186 

Average Price of Homes Sold in the Indianapolis area December, 2009 vs. December, 2008: 

$142,010    December, 2009

$128,479    December, 2008

On the main page of the website, the News link will take you to the stats or use the link below.

http://www.homesonwater.com/Newsletter

If you are considering a sale and/or purchase this year, don't hesitate to contact me.  If you own a non-waterfront home that you would like to sell, let me know.  We will implement our Waterfront Marketing System to help sell your home.

  Several Counties Show Extraordinary Gains

All nine central Indiana counties showed gains in November, 2009 home sales compared to November, 2008.  However, Boone, Hamilton and Johnson Counties reported the largest gains.

Ø  Boone County:  67%

Ø  Johnson County:  59%

Ø  Hamilton County: 45%

Tax Credit Extension: Closing Deadline Doesn’t Mean What it Meant Before

The first-time homebuyer tax credit extension will extend the tax credit until April 30, 2010. 

However, there is an additional benefit for qualifying homebuyers under the tax credit extension.

The Senate agreement stipulates that buyers must have a sales contract on a house by April 30 to be eligible, but it gives homebuyers an additional 60 days to close the purchase. 

“There is little argument that the extension of the first time home buyer tax credit should help stabilize home prices,” according to Dan Breault, Regional Director, RE/MAX of Indiana. “Since the program was created home prices have found a bottom and have actually started trending higher.”

There are definitely some areas that are continuing to see lower home prices but as a whole the United States has seen a tick up in the price of homes.  Now that the tax credit will last until April 2010 there is a good chance that we have seen the bottom in housing prices for the time being.  The overall market in the Indianapolis area is beginning to stabilize, year-to-date home sales in central Indiana are down only 4 percent, or 939 homes, when compared to 2008.    

This link should answer most of your questions regarding the Tax Credit for First Time Buyers AND the new Tax Credit for current homeowners.

First-Time Home Buyers Fueling Housing Market 

INDIANAPOLIS - (November 18, 2009) - Indianapolis area home sales in October 2009 surged 23% compared to October 2008, according to new monthly data compiled by RE/MAX of Indiana.

Home Sales: By the Numbers

Ø  2,199  Homes Sold in October, 2009

Ø  1,781  Homes Sold in October, 2008

This jump is the first positive year-over-year percent increase since October 2008, and it can be attributed to first-time homebuyers trying to close on homes prior to the original closing date of the tax credit. The tax credit is now extended. Home sales in the $75,000 to $125,000 range were up 55% compared to the previous year. 

Indianapolis has seen positive growth in home sales since the inception of the first-time homebuyer tax credit in February.

In order for these to become permanent, the Indiana Constitution must be amended which requires the legislature to pass the caps again for a second time and then the voters have to approve it in a referendum.

Northern Marion County (Indianapolis) the average sale price has increased $20,033 from the average sale price during 2008 - the average Waterfront Sales Price is now $289,160.

If you want to know what is going on in your neighborhood or your favorite neighborhood, just let us know.

Here is the link to the Newsletter - http://www.homesonwater.com/Newsletter

Also, don't forget to make sure your landscaping is awesome.  Fresh mulch, blooming flowers, freshly trimmed bushes and a well groomed & edged lawn is always a huge factor for buyers.

NOTE:  I just completed a quick study of all our buyers leads so far this year and 40% of the buyers are relocating to our area from other parts of the country.  Having such a high percentage of out of town buyers looking for Waterfront Property is great news.

If you are planning to sell your Home On Water and want it to get noticed or if you are considering a move, please give me a call.  With my 25 Years of Experience, you will be in good hands!