Southside Housing Alliance

“…The Indianapolis Real Estate Market is really heating up. Although the January Report released by MIBOR late last week shows that sales price were up and activity was down at the end of January – there is no doubt that February activity is REALLY heating up. Both seller and buyer activity has risen greatly in the past few weeks with new listings and showing appointments on the rise…”

“…Indianapolis’ recovering commercial real estate markets are poised to continue their comeback in 2011.
An annual “state of real estate” report was released today that brushes a sheen of optimism on the office, industrial and retail markets. After commercial real estate markets tanked in 2009, they partially bounced back last year and stand to strengthen even more this year if hiring and consumer spending grow…”

“…If you’ve been through a foreclosure, you may wonder if there is hope for you to become a homeowner again. The answer is yes, but it will take a while. Know that time is your friend, as the farther you move away from the financial distress, the less negative impact it has. Follow with responsible behavior with your new credit, and you’ll soon have a solid credit file. Here are some strategies to help get you there…”

“…Nearly eight out of 10 respondents believe buying a home is a good financial decision, according to the 2010 National Housing Pulse Survey, an annual report released by the National Association of Realtors.

Despite economic uncertainty, 68% of those surveyed still believe now is a good time to buy a home. Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area…”

“…Sales of new homes climbed 6.6% in September 2010, figures released by the federal government showed, representing the second straight month of gains. A recent report showed sales of existing homes were also stronger than expected, rising 10%, and the two reports lend support to some economists who believe housing demand hit a bottom in late summer…”

“… Bolstered by favorable interest rates and low house prices, housing affordability remained near its highest level nationwide for the sixth consecutive month since the series was first compiled nearly two decades ago. The Housing Opportunity Index indicated that 72.3% of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income …”

“… Pending home sales increased for the second consecutive month. The Pending Home Sales Index is a forward-looking indicator. The data reflects contracts/pendings and not closings, which normally occur with a lag time of one or two months. The Index rose 4.3% based on contracts signed in August 2010, reaching 82.3. This is up from July 2010 when it was 78.9. Data is consistent with a gradual improvement in home sales in upcoming months …”

“…Fannie Mae’s latest national housing survey finds that most Americans believe the housing market has reached bottom. Seventy percent of Americans think it is a good time to buy a house and 67 percent continue to believe that housing is a safe investment. 78 percent believe that home prices either will remain flat or go up over the next year…”

“… Truth is, the tax credit was one of many incentives to enter the market in the past two years—and several of those advantages still exist for qualified buyers. It’s still a great time to buy. Focus on today’s favorable home buying conditions, including low homes prices, low interest rates and other tax benefits. Tax credit or no tax credit, homeownership is part of the America dream—and it’s alive and well …”

“…The tax credit brought a lot of buyers out last fall and again this spring, which gave a real shot in the arm to real estate. While that heightened volume cannot be sustained, home sales and prices still remain higher than last year due to interest rates at historically low levels and the lowest home prices seen in years. For right now it appears that housing is holding its own, hopefully on the road to a sustainable recovery…”

“… Indianapolis Neighborhood Housing Partnership (INHP) is celebrating National Homeownership Month by hosting a series of homeownership fair Block Parties. All Block Parties include one-on-one credit assessments and INHP’s Money Management class—right on site—plus free family fun, including a kids’ area, live local entertainment, prizes and giveaways, snacks, and an exhibitor area where visitors can get to know area businesses and resources. The Southside Block Party is: June 26th at the University of Indianapolis Schwitzer Student Center on Hanna, 10am to 4pm …”

“… This amendment does not extend the deadline for home buyers to qualify for the tax credit; it extends the deadline for closing the transaction, from June 30 to Sept.30 for qualified home purchasers, who through no fault of their own, are not able to meet the closing deadline. Since these applications were already in the pipeline and figured into the program’s cost, the extension of the closing deadline should not incur any further government costs …”

“… Here are the 5 metro areas where the average American family can easily afford to purchase a median-priced home – and the 5 where they can’t. Indianapolis ties for the first place spot on the list of Top 5 Most Affordable Cities and New York tops the list of Least Affordable …”

“… Indianapolis is a place where people want to be, to plant their flag, seek their fortune, and build a better future for themselves and their families. In general, the Midwest is a place most people want to move away from, but not here, not this city …”

“…Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors. Favorable affordability conditions have been working with the home buyer tax credit, which both factored into the 5.3% jump in pending home sales…”