Real Estate
Reporting on a two-month lag, the government said home values rose 0.7 percent in November. National home prices are at their highest point since February 2009. But before we look too much into the FHFA's Home Price Index, it's important that we're cognizant of its shortcomings; the most important of which is its lack of real-time reporting....
Home Sales in Danville for the month of December were above last years sales. There were 11 sales last month, compared to 7 sales in December 2008. The averages for December 2009: The highest home sale was $217,900 for a four bedroom, 3 bath home with 2433 square feet. The lowest priced home sold was a two bedroom, 1 bath home with 1228 square feet. The average days on market was 59 days. Danville Real Estate Sold Danville homes sold, subdivision, home levels, garage, basement, square feet and price. The most popular subdivision sales in Danville were in Stratford Ridge...
The supply of newly-built homes fell to its lowest levels since 2006, offering additional proof of a housing market in recovery. You only have to take a drive through new home communities in Indianapolis to see the reduced amount of new starts. Home supply is defined as the amount of time it would take to sell the current inventory of homes at the current pace of sales. When home builders slow down the pace of building, existing home sales pick up. In October, for the 8th consecutive month, home supplies fell. Since peaking in January 2009, it’s now down by almost half. Lower...
An escrow account is a designated savings account into which funds get deposited for a specific purpose. With respect to real estate and home loans, escrow accounts are used to pay real estate tax bills and homeowners insurance payments. Escrow accounts are managed and disbursed by lenders. When a homeowner “escrows” his mortgage, along with his scheduled monthly mortgage payment, he must also send an additional payment to the lender equal to 1/12 of the home’s annual real estate tax bill plus 1/12 of the annual homeowners insurance bill. By sending a pro rata portion of the tax and insurance...
One of the terms which is least understood and most overused in real estate is “average”. It gets used a lot in news media coverage of the real estate industry; I guess, simply because there is not a more definitive way to describe price or days on market. Let’s take a look at how average and median numbers are used in determining value. I’ll use the following graph to look at the numbers. This graph is the statistics for an Indianapolis suburb for the month of November, 2008. Averages Averages are determined by grouping together properties in a specific area, adding together all...
For the month of August, there were 42 homes sold and closed in Zionsville Indiana; compared to 44 homes sold in July. The highest price home sold was $917,425. The lowest priced home sold was $120,000. The average Days on Market for homes sold was 113 days, down from 106 in July. The average Zionsville home sold was a three bedroom, three bath with 2389 square feet and sold for $357,859. There are currently 340 homes available for sale in Zionsville, which gives us an absorption rate of 8.0 months. Average days on market and absorption rate will vary by price range. Search here for a free downloadable neighborhood report Keep track of sales...
For the month of August, there were 10 homes sold and closed in Traders Point, compared with 17 homes sold in July. The highest price home was $725,000. The lowest priced home sold was $68,000. The average home sold in Trader’s Point was a three bedroom, three bath with 2701 square feet and an average price of $240,450. The average Days on Market for homes sold was 112 days, up from 93 days last month. There are currently 131 homes available for sale in Trader’s Point, which gives us an absorption rate of 13.1 months. Average days on market and absorption rate will vary by price range Tags: Traders+Point, Real+Estate+Market...
For the month of August, there were 157 homes sold and closed in Fishers Indiana; one less than July. The highest price home sold was $727,000. The lowest priced home sold was $85,000. The average Days on Market for homes sold was 65 days, up from 64 in July. The average Fishers home sold was a three bedroom, two bath with 2198 square feet and sold for $208,964. There are currently 786 homes available for sale in Fishers, which gives us an absorption rate of 5.0 months. Average days on market and absorption rate will vary by price range. Search here for a free downloadable neighborhood report Keep track of...
