Southside Housing Alliance

“… The average Indiana home is worth more than it was in March 2009 – higher than five years ago and significantly higher than in 1991. Unlike homes in California in Nevada which have lost nearly half their value on average, the average home price in Indiana has dropped a mere .04 percent since housing prices peaked in March 2008 …”

“… If you rent the same home for ten years (assuming $1,000/month), the total amount you would pay for rent will equal $140,777! None of that $140,777 is returned to you, either through savings or as an investment. Homeownership, on the other hand, often has tax advantages over renting a home, and those advantages can help you save money. More than two thirds of American households own their home and enjoy the benefits of homeownership, from the accumulation of home equity, other financial benefits, and the pride of owning a place of their own …”

“… First-timers again have been emerging in response to an extension of the tax credit. Most are driven by traditional first-time buyer values—fulfilling the American dream of homeownership; looking for a place to start a family; building equity instead of paying rent; and gaining independence from mom and dad. So will the wave of first-time buyers continue after the expiration of the tax credit later this spring? It’s still going to be a buyers’ market after the tax credit expires. Interest rates are still at all-time lows, and price declines have greatly improved affordability in many markets. Buyers are still in a position to benefit from purchasing a home, even without the tax credit …”

“.. Is now the time to buy a home in Metropolitan Indianapolis? It depends. If you plan to take advantage of the $8,000 first-time home-buyer tax credit, you need to get moving. If you’re afraid of rising interest rates, you’re probably better off acting now…”

“…Despite keeping up on their payments, renters are often affected by their landlord’s financial fallbacks. A federal law was passed last year to protect the rights of these individuals. The 2009 Protecting Tenants at Foreclosure Act requires that lenders give at least 90 days’ notice following a foreclosure sale’s “redemption period” before evicting renters from a property…”

“… The Obama administration on Friday announced a major reworking of its troubled $75 billion plan to prevent foreclosures. The revamped program is now designed to aid jobless homeowners and people who owe more on their mortgages than their homes are worth. Here’s a look at the details …”

“… Last year an unprecedented 47 percent of the market was made up by First-Time Home Buyers, with credit given to both the federal tax credit and historic housing affordability. Housing economists are predicting that 2010 will be an even bigger year for first-timers. So, the questions to answer are: Who are these first-time home buyers? AND What do they want? …”

“Central Indiana’s housing market is on track to notch gains in the number of homes sold and the average sales price in 2010″, according to a forecast recently published in the Indianapolis Business Journal. The forecast goes on to predict “more stability in the residential housing market in 2010, that the number of existing homes sold in central Indiana will rise about 3 percent, and that the average sales price for the nine-county region will rise about 1 percent, to $142,000, from $139,000 …”

“… Short sales, foreclosures and real estate auctions can offer homebuyers another type of purchase opportunity. Sometimes it is a good opportunity and other times it is not. It is up to you and your agent to determine the good ones.

Buyers considering one of these homes need to have a signed agreement by April 30 and close by June 30 to take advantage of the current tax credit …”

“… You’ll come away with a wealth of new information, some answers and perhaps some questions about what we can all do to contribute to the formula for a vibrant central Indiana…”

“… According to the Mortgage Bankers Association… mortgage loan activity increased during the week ending 12/04/09… The upward trend in financing plus the extended tax credit programs could bolster our first quarter activity…”

” … this is confirmation of what we have been saying for months. No one has a crystal ball, but statistics indicate that Indianapolis’ economic recovery is steady and holding…”

“… Average sales price increased by 2% while median price rose by 4%…In total, these data sets are intended to be a snapshot of the market…”

“…Experts suggest that the combination of the reduction in inventory of homes, the exposure on the Internet touting Indianapolis as a very affordable place to live and the extension of the Federal Housing Tax Credit will hopefully spur more residential sales…”

“… rates at all time lows, … the most affordable housing in the US and you can get up to an $8,000 tax credit … You tell us, is there a better time to buy?…”