A Sample of Today's Interest Rates

These rates can't last long. Check out a sample of today's rates from local lenders. As always on the b-town Report rates are for a 30 year fixed rate conventional mortgage and rates are subject to change.

Fifth Third Bank (www.53.com): 4.875%

Monroe Bank (www.monroebank.com): 4.75% with .375 of a point

Peoples State Bank (www.peoples-bank.com): 4.875%

Regions (www.regions.com): 4.875%

United Commerce Bank (www.unitedcommercebank.com): 4.875%

Neighborhood Watch - Hoosier Acres

Hoosier Acres is one of Bloomington's classic neighborhoods. Development started in the 1960's and continues even today. Architecture ranges from mid-century modern to classic Georgian design. The lots are large, the streets are quiet and you can walk to the market, restaurants and shopping.

Currently there are four houses on the market in Hoosier Acres. Three are priced in the mid $300's and one is priced over one million. Pictured above is a lovely home that is currently priced at $349,900. The home features four bedrooms, two and a half baths and has over 2500 square feet. Walk in and you are instantly surprised by the high ceilings which are not characteristic for homes built in the 60's. Walk through the living room and you enter the library lined with shelves. The lot is quite large and level.

Within the past year five homes have sold in Hoosier Acres and they have ranged in sales priced from $185,000 to $330,500. The low priced home was actually purchased as a 'tear down' and a large limestone house is now standing in its place.

If you have a love for mature trees, quiet streets, architecturally diverse homes and a close-in location, you should check out Hoosier Acres.

National Home Builder KB Homes Posts a Reduction in Losses

A small sign of economic recovery: KB Homes cut its first quarter losses by 78% and they stated that it was because of first time home buyers. KB Homes is one of the nations largest new home builders whose closest projects to Bloomington are in the Chicago area.

KB Homes stated that first time home buyers 'flocked' to their smaller and affordable new homes. While I was working in real estate in the Raleigh/Durham NC market, KB Homes was a very popular builder and had several new home neighborhoods that offered cute small homes that were ideal for the first time home buyer.

Bloomington's national home builder, Beazer Homes, has two new home neighborhoods in Bloomington. Many of the homes start near or above $200,000. Maybe they should rethink their strategy and offer smaller homes at more affordable prices that first time home buyers can afford?

Weekly Update for the Week Ending March 27th

It's been another busy week in and around Bloomington. 96 new listings on the market. Here's the break down:

• 25 condos/PUDs
• 54 Single family homes
• 2 Multi family properties
• 14 Land listings
• 1 commercial listings

The new listing condo numbers are up this week thanks to the new construction condo building that is planned for Kirkwood Avenue. There will be more information on these condos next week on the b-town Report.

The highest priced single family home to come on the market this week is a 5000+ square foot home in Hyde Park listed at $5769,900. The lowest priced single family home to come on the market this week is located 13 miles south of Bloomington with 632 square feet and is priced at only $42,000.

There were 23 sales this week, the exact same number as last week. Here's the breakdown of the sales:

• 2 Condo/PUDs
• 14 Single family homes
• 1 Multi family home
• 3 land listings
• 3 commercial listings

The high selling single family home of the week was a new construction house in Amber Ridge. It has four bedrooms, three and a half baths and just over 2800 square feet of finished living space. The list price was $419,000 and the selling price was $387,000.

Here's the price breakdown for the single family homes that sold this week:

• 6 homes sold for under $100,000
• 2 homes sold between $140,000 and $150,000
• 3 homes sold between $150,000 and $160,000
• 1 home sold for $222,000
• 1 home sold for $297,500 (one of my favorite listings)
• 1 home sold for $387,000 (noted above)

37 properties went pending this week including a couple of homes that have been on the market for a long time. And the inventory of houses near IU is very low, so buyers will need to move quickly to secure the property they want in this area.

Jessica and Nick's former home is on the market..

The newlywed home of Jessica Simpson and her ex Nick Lachey in Calabasas California has been listed for $3,995,000.

It's a five bedroom, six and a half bath home with over 6000 square feet. The home features a restaurant style wine cellar, home theatre and of course a recording studio (which can double as a gym).

Source: Trulia.com

A Sample of Today's Interest Rates

Wow, rates are still looking really great! Here is a sample of today's interest rates from local lenders. As always on the b-town Report rates are for 30 year conventional fixed rate loans and rates are subject to change.

Fifth Third Bank (www.53.com): 4.875%

Peoples State Bank (www.peoples-bank.com): 4.875%

Premier Home Mtg. (www.premierhomemortgage.com): 5.00%

United Commerce Bank (www.unitedcommercebank.com): 5.00%

Neighborhood Update - Elm Heights

Elm Heights, the beautiful neighborhood on the south side of the Indiana University campus, is as popular as ever. Currently there are 5 houses active on the market and 4 pending transactions. These pending transactions have happened recently with the surge of buyers coming to Bloomington with plans for the fall semester at IU.

The house in the photo above is a handsome limestone home on Maxwell Lane. It was on the market in 2008 with renters in the house. It is now vacant and looks great. The home features 3 bedrooms, 2 1/2 baths and over 1600 square feet (plus 841 additional finished square feet in the basement) The limestone fireplace mantel is a 'must see'. This home is priced at $285,000. If you plan on seeing this house, make sure that you see the unique home across the street that is also priced at $285,000.