Fishers, IN Real Estate News

By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Mortgage Purchase Applications Increase The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 26, 2010, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.5 percent compared with the previous week. “Purchase applications have increased over the past month, and are now at their highest level since last October when many homebuyers were rushing to get loans closed before the expected expiration of the homebuyer tax credit,” said Michael Fratantoni, MBA’s Vice President of Research and Economics....
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Mortgage reform: What is to be done? Over the past 18 months, the government has taken extraordinary steps to keep the housing market viable. Home sales reversed their four-year descent, and prices stabilized. So far. But it has cost $126 billion to date, and the bill is still growing. What's next? With the Obama administration largely mute on the issue, Congress will hold its first hearing today about how to restructure the mortgage system in the wake of the financial crisis. "Don’t make the American taxpayer responsible for handling speculative situations or bubbles," he said. Rep. Spencher Bachus, ranking Re...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Mortgage reform: What is to be done? Over the past 18 months, the government has taken extraordinary steps to keep the housing market viable. Home sales reversed their four-year descent, and prices stabilized. So far. But it has cost $126 billion to date, and the bill is still growing. What's next? With the Obama administration largely mute on the issue, Congress will hold its first hearing today about how to restructure the mortgage system in the wake of the financial crisis. "Don’t make the American taxpayer responsible for handling speculative situations or bubbles," he said. Rep. Spencher Bachus, ranking Re...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Treasury: HAMP not working We've reported the failure of HAMP many times before, but now even senior insiders are piling on. Neil Barofsky, special inspector general for the Troubled Assets Relief Program (TARP), said in a report issued yesterday that Treasury now expects only 1.5 million to 2 million homeowners to get mortgage relief (as opposed to the 4 million it initially claimed). So far, fewer than 200,000 have actually graduated from the trial program into a permanent modification, and the inspector general's report warned that many borrowers are at risk of redefaulting on their mortgages even after rece...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi More foreclosures on the way In Q409, the amount of mortgages falling behind by 90 or more days increased 21.1%, resulting in more foreclosures ahead, according to a study from the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS). The OCC and the OTS report covers nearly 34 million loans totaling $6trn in principal balances, representing 64% of all outstanding mortgages in the US. Overall mortgage performance declined for the seventh consecutive quarter, as 86.4% of the mortgages studied were current and performing at the end of Q409. Banks initiated fewer new foreclosu...
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By Pat Haddad, ABR, CRS, ePRO, GRI, Carmel, Fishers, Westfield IN Real Estate Expert
(Keller Williams Indianapolis Metro NE)
Covington Estates, Fishers Indiana is one of the town’s most desirable established neighborhoods. While the majority of Fishers Indiana subdivisions are less than 10 years old (a decade of phenomenal growth created the need for plenty of new housing in a variety of price ranges), the town’s mature neighborhoods offer a certain charm that’s difficult to replicate in a new subdivision. There are many lovely older neighborhoods in Fishers, but Covington Estates is one the best!  Tucked in between 96th Street and Lantern Road on the southern edge of Fishers, this Estridge-built neighborhood offers one of the most convenient-to-everything locations you’ll find among Fishers Indiana real estate. Winding streets, beautiful wooded lots, a neighborhood pool and tennis courts, plus quick and easy...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
Webinar Tonight March 25th On Doing Short Sales at 8:00 PM, Learn How To Capitalize On The Following: Short Sales, REOs, Code Violation Properties and Real Estate Auctions - Go HERE To Register! Inmates are running the asylum at Bank of America Bank of America is starting a program to offer homeowners who owe significantly more than their homes are worth the opportunity to have their loan balances reduced. The program, which starts in May, would potentially help about 45,000 homeowners nationwide. In launching the effort, Bank of America is jumping into the debate about how to address the millions of homeowners whose mortgages exceed the value of their homes and who have complicated industry and government efforts to prevent foreclosures. The Bank of America plan is limited in scope. Bo...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Carmel Indiana Real Estate has 639 homes actively on the market today!  Of those only 122 are ranches.  It seems more and more people are wanting ranches; could be a sign of the demographics shifting to an older population? Located off 116th just west of Rangeline and east of College is Fairgreen Trace.  It is a small community of about 70 homes built by Trinity between 2000 and 2003.  There is very little turnover in this community with only two homes being sold in the last year.  Both of those homes sold in about 100 days and at $118 a square foot.  The homes range from 1650 sq ft up to about 2400 sq ft.  Most are 3 bedrooms and two baths and no basements. The average price is between $225,000 and $250,000 typically.  One of the benefits of living in Fairgreen Trace is its proximity t...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
Fishers Indiana has received numerous recognitions and awards over the past few years culminating this past week as the most affordable suburb in America by Business Week.  The criteria for this award were populations of 5,000 to 60,000 (I actually think we are closer to 70,000, but we'll take it!), median family incomes of between $51,000 to $120,000 (we are at $108,086) and factors such as livability (short commutes...they must not have travelled I69 in the morning!), education, crime and affordability.   This award is one of many that Fishers Indiana has received.  It was named the best place to raise a family by Business Week in November of 2009.  The criteria for this award was school test scores, air quality, affordability, job growth and safety.  If you are curious about crime ne...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
The 2011 Fishers Egg Hunt information is here! ***************************************************** This Fishers Real Estate blog definitely covers the usual Fishers neighborhood reports, market reports, tips for buyers and sellers, but it also often has community events and hot spots highlighted.  It is time for a community event! The Spring Fling is always a big draw for the residents of Fishers and surrounding communities.  There will be a few face painters, a balloon twist person, a bounce house, the fire truck, and of course an egg hunt that is in a field just north of the Keller Williams office. The Easter Bunny has also agreed to stop by and be with the children during our event.  We will take pictures and send them to you. It is our way to show appreciation to those that have w...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
Also you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Pending home sales drop 7.6% According to the National Association of Realtors (NAR), its Pending Home Sales Index, a forward-looking indicator based on contracts signed in January, dropped 7.6% to 90.4 from a reading of 97.8 in December, and is 12.3% higher than January 2009 when it was 80.5. NAR said the harsh winter hampered home sales. “January pending sales, though still higher than one year ago, remain much lower than expected given that a large number of potential buyers are eligible for the expanded home buyer tax credit,” said NAR chief economist Lawrence Yun. “Moreover, the abnormally severe and prolonged winter weather, which affecte...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
Also you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Mortgage applications rise as interest rates fall According to the Mortgage Bankers Association (MBA), its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, rose 14.6% for the week ended February 26, from the earlier week. The Refinance Index rose 17.2% from the previous week while the seasonally adjusted Purchase Index increased 9.0% from one week earlier. The increase was due to a drop in loan rates -- the rate on 30-year fixed-rate mortgages dropped to 4.95%. "Mortgage applications rebounded last week, particularly refis, as rates dropped back below 5 percent," said Michael Fratantoni, vice...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
Also you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Number of bank failures this year: 22 and counting Last week, regulators closed 2 banks, bringing the number of bank failures to 22 so far this year. The banks which were shut down are Carson River Community Bank, based in Nevada, with $51.1 million in assets and $50 million in deposits as of Dec. 31 and Rainier Pacific Bank with $717.8 million in assets and $446.2 million in deposits as of Dec. 31. The Federal Deposit Insurance Corporation (FDIC), which insures up to $250,000 per account at member institutions, will take a hit of over $100 million on account of the 2 failures. FDIC says the number of troubled banks jumped to 702 in the fourth ...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
Also you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Fannie Mae seeks $15.3 billion in bailout money Fannie Mae, the country’s largest mortgage financier, says it needs another $15.3 billion to tide over the current housing crisis. The company posted a staggering loss of over $ 70 billion in 2009 compared to $ 58.8 billion losses in 2008. Fannie's losses were mainly on account of $11.9 billion in credit expenses, which included bad loans and costs incurred in maintaining foreclosed properties. The company also took a $5 billion write-down on low-income tax-credit investments. About 5.38% of Fannie’s single-family loans were more than 90 days delinquent, up from 2.42% a year earlier. Total nonperf...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
Also you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Buffett predicts housing recovery in 2011 The Oracle of Omaha, in his annual letter to shareholders of Berkshire Hathaway Inc., has written, “Within a year or so, residential housing problems should largely be behind us. Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits.” The decline in the U.S. housing market has led to record foreclosures and an over-supply of housing. Buffett thinks it will take another year before housing demand catches up with supply. Buffett said reduction in new housing starts is the best way to reduce inventory overhang, and joked that...
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By Pat Haddad, ABR, CRS, ePRO, GRI, Carmel, Fishers, Westfield IN Real Estate Expert
(Keller Williams Indianapolis Metro NE)
Congratulations Fishers Indiana! Yet another praise was heaped on the pile for this Indianapolis suburb this week when YAHOO! Real Estate placed it atop its 2010 list of Best Affordable Suburbs in the United States! Apparently Fishers residents aren't the only ones who appreciate the town's great schools, low cost of living, low crime and reasonable commutes! Fishers topped suburbs of Honolulu, Hawaii, Charlotte, NC, and Denver, CO on the list. Rankings were based on proximity to a major city, populations between 5,000 to 60,000, median family incomes of $51,000 to $120,000, and lower-than-average crime rates. Affordability factored most heavily in the rankings, followed by livability, education, crime and the economy. Suburbs drew penalties for bad weather (certainly Fishers earned a d...
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By Indianapolis Realtor
(ICON Realty Partners, LLC - Indianapolis)
Fishers announced a cool little Iphone app (click here to download) yesterday for the town.  Announced with the following features, I had to check it out: Reporting features such as potholes and road repair, overgrown grass complaints, illegal dumping complaints, and the police tip line. Myriad services include facility and shelter rental, roadwork updates, arson hotline, police and fire recruitment, emergency and disaster preparedness, and more. Government information including contact information, maps, phone numbers, public official bios, and more. Public meeting information including agendas, minutes, and meeting calendars. Town department news. Events calendar featuring parks programming and non-profit events happening throughout the town. Social media functions connected users to ...
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By Indianapolis Realtor
(ICON Realty Partners, LLC - Indianapolis)
Over the last year or so, we did a lot of work with buyers interested in bank owned / foreclosed properties throughout metro Indianapolis.  We like to periodically look at whats available to keep our active buyers updated on the market. There are curently 9 bank owned homes for sale in Fishers.  Please keep in mind that this number does not include HUD homes owned by the government or short sale homes.  We typically keep a closer eye on foreclosures rather than short sales due to the ease of transaction and higher probability of closing upon acceptance of an agreement. The only community with more than one active foreclosure is the Watersedge Condominiums located close to Geist off Olio Road and 116th St.  The condos for sale there, with some views of the reservoir, are listed for $155,...
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By Indianapolis Realtor
(ICON Realty Partners, LLC - Indianapolis)
In response to a few reader emails, below is a look at February Fishers Real Estate numbers. Fishers Pending Sales There were 96 transactions that pended in Fishers in February - thats up from 81 in January - quite a normal uptick. The highest priced home to sell was located in the Turne Grove for $520,000. Active Listings | February 2010 vs. February 2009 There are currently 587 active listings in Fishers. That's up 16 since our last Fishers real estate report.  Of those, a whopping 191 were listed for sale in February.  The average priced home for sale currently is $308,404 at over 3300 square feet. Homes are priced at an average of $92 / squre foot. Fishers at a Glance - February:   2009 2010 Sold 79 63 Pend 105 96 Days on Market 104 79 Average Price $207,417 $196,679 Average Sq Ft. ...
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By Indianapolis Realtor
(ICON Realty Partners, LLC - Indianapolis)
Fishers Indiana ranks #2 out of 200 in the new Livability.com ranking of the best kept secrets in golf.  The site ranked Fishers high based upon quality of live, cost of living, the number of public and privage courses, the number of courses offering tournaments. After living in Fishers for many years, I can see the reason for the ranking - but at the same time - I must admit that I take Fishers golf for granted.  We have excellent courses such as River Glen, Britton, Ironwood, Gray Eagle, and the Hawthornes. Livability.com is a site devoted to helping you find the best city to "live, work, play and belong".  This link will take you to a map of golf courses near Fishers. It's great to read about Fishers being honored as a great place to work and play.  In fact, Fishers has recently been...
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