Indianapolis Real Estate - Indianapolis Homes

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Tue, Nov 25, 2008

Indiananpolis Star Exaggerates Housing Crisis by Mike Taylor

Shame on you Indianapolis Star for running your lead story in today’s paper without all the facts. For those that didn’t see it, the Indy Star’s lead story today is “Area Home Sales Tumble 24%” in giant font with a subtitle of “October drop in one of largest of crisis, far exceeds nationwide decline of 3.3%”.

What really rubs me the wrong way is how they and other media outlets just love to glom on to this negative news. I am not refuting the numbers they published, they are correct. What I don’t like is how they just glossed over the impact the elimination of down payment assistance played on this.

What they failed to mention is that September sales were up pretty much across the board most likely due to buyers trying to take...

969 Views, 8 Comments.

Fri, Nov 21, 2008

Christmas comes early for some... by Eric McMillan

Well, it appears Fannie Mae and Freddie Mac are putting on their Santa suits for thousands of homeowners. It was announced yesterday that the mortgage giants have suspended foreclosure proceedings for pre-foreclosed homes for the next 6 weeks. This will allow homeowners to stay in their homes through the holidays and give them extra time to figure out how to stay in their homes beyond the hiatus. This also allows Fannie Mae and Freddie Mac to work on modifying the terms of the loans for these homeowners. Fannie and Freddie have partnered with HOPE Now, a government-organized coalition of the largest U.S. mortgage servicing companies, to offer borrowers who are at least 90 days delinquent and have high loan-to-income ratios the...

347 Views, 5 Comments.

Thu, Nov 06, 2008

Gunstra Builders Could Be Next to Fold by Mike Taylor

Although no formal word has come from the company itself, recent reports indicate that Gunstra Builders may be the next builder in the Indianapolis area to close its doors. Gunstra has “shut down most of its sales offices and stopped communicating with clients” according to a recent story in the Indy Star. Gunstra has, or had, 15 communities around the Indianapolis area including Carmel, Fishers, Zionsville, and Plainfield. We will have to what finally shakes out, but it doesn’t look good for Gunstra.

Most of you recall Davis homes recently going belly up as well as KB Homes pulling out of the Indianapolis market. Gunstra could be the next casualty of the “housing crisis”.

Although it is easy to have a visceral reaction to...

1695 Views, 7 Comments.

Tue, Nov 04, 2008

Indianapolis - Best Bang for You Buck by Mike Taylor

Indianapolis has been recognized by two separate but similar top 10 lists in Forbes magazine. The first the Best and Worst Bang for the Buck Cities and the other is Cities Where Your Nest Egg Goes Farthest. Indianapolis comes in #3 and #6 respectively. While I understand these top 10 lists are somewhat sensational, there is a grain of truth to what they are saying; Indianapolis is great affordable place to buy a home, raise a family, or retire.

While many parts of the country are reeling from losses in real estate, Indianapolis is not faring that bad at all. In fact, I firmly believe a large of part of the current slowdown in Indianapolis is a self fulfilling prophecy. If we could somehow just tune out all the negativity about...

697 Views, 0 Comments.

Mon, Nov 03, 2008

Mortgage Update by Eric McMillan

Good afternoon. I hope everyone has been hanging in there during this roller coaster ride we've all been on. The best word to describe mortgage interest rates right now would be "volatile". The economic uncertainty has caused a strain on all the markets, including Mortgage Backed Securities. Over the past month, rates have been as low as 5.875% and as high as 7.0%. Timing is everything right now and you want to make sure you are working with someone who is seeing the trends and can be proactive, rather than reactive to the markets. While no one knows what the future will hold, there are signs and indicators available that I follow daily to benefit my clients. Your home will be, in all likelihood, your biggest investment and...

276 Views, 3 Comments.

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