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.
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.
It's been another busy week in and around Bloomington. 96 new listings on the market. Here's the break down: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:
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:
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.
The newlywed home of Jessica Simpson and her ex Nick Lachey in Calabasas California has been listed for $3,995,000. 
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.
Oliver Winery is the hospitality sponsor and is offering wine tastings.
Plus so many vendors including:
Plus...live music from:
Everyone is invited and the best part is that it is FREE!
Bloomington Convention Center
Tuesday, March 31 from 5pm to 8pm
This 15 acre retreat will be called Tranquilo and will include a spa, swimming pools, a fitness center, waterfall viewing decks, a lounge and a recreation center.
When home owners arrive at the resort, their refrigerators will be stocked with food. On site chefs will be available. And transport to and from the resort will be provided by private shuttle or helicopter.
And to make it a better investment, owners will be able to rent out their property through a rental management program.
Weekend videos on the b-town Report have become a regular. Here is your open house tour for a 6.5 million dollar house in Arizona.
It's been a busy week for the Bloomington real estate market. Here are the numbers...Of the 89 new listings, here's how they break down:
Of the 23 sales for the week, here's how they break down:
The 16 single family homes ranged in sales price as follows (many selling at or very near the list price):
Of the 33 residential listings going pending, here's the price breakdown:
Interest rates are still looking really great today with many banks coming in at or below 5%! Look for information on the first-time home buyers tax credit in the directory of posting at the b-town Report. They are labeled under "stimulus package".
What is a Short Sale and why are buyers interested? Buyer's can sometimes buy a house for a reduced price. However it can be a long process for a buyer since there is no guarantee that a bank will approve a short sale. Read Wikipedia's definition below. In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold.[1] In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Many Short Sales leave a deficiency balance for which the Mortgagor / Borrower is still liable. In 99% of all cases it is not a settlement-in-full. A deficiency balance will remain as a potential liability for the Mortgagor / Borrower.
Wow! Rates are phenomenal today! Here's a sample of 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.
New-home construction rose 22.2 percent in February, compared to January, to a seasonally adjusted annual rate of 583,000 units.
If you are in the market for a 100 acre farm in Greene County, then this is the property for you. The house is fully remodeled and renovated with over 3000 square feet. The land is amazing. Here's what the listing agent has to say: "100 +/- acres at one time 250 cattle ran on this property. 3000 bales of hay were cut off of the land in one year. Buildings on the property consist of a Red Metal building 40x50. A 40x60 barn with a 12x60 shelter. A 4 Bay Garage 40x60, a smoke house, and a corn crib." The property even comes with a cave. Priced at $470,000.
Saturday, March 21st
Here is a sample of interest rates offered by local lenders for today, Monday March 16th. As always on the b-town Report, rates are for a 30 year fixed rate conventional mortgage and rates are subject to change:
It's 'Spring Break' in Bloomington which is not just for the students. Only five new listings have come on the market in the last 24 hours. Here's the pick-of-the-day:
The b-town Report is all about video links on the weekends. Here's the latest:
Here is the Saturday video clip of the week. Learn how to "Green up" your home cleaning by following the llink:
As of 8:00am this morning, international stock markets are up significantly which is a positive sign for the global economy...according to Ann Curry. As for the local scene, the real estate market is enjoying a spring burst of activity. For example, listings marketed by Re/max Acclaimed had 135 showings over last weekend. That is a positive sign that buyers are ready to take advantage of the great interest rates and the good inventory on hand.As for the new listings, here's the break down:
The condos range in value from $69,900 to 229,900 with both the high and the low being at Eagle Point.
New single family home listings range in price from $40,000 for an adapted mobile home on over an acre in Poland, IN, to $670,000 for a nine acre horse farm with a four bedroom/three bath home and pool. Here's the price breakdown for these 63 new single family home listings:
Now for the 28 sales from this week, here are the numbers:
Three of the condo sales were at auction, each selling for $64,000. The high seller was a two bedroom/two bath condo at Peppergrass on the south side selling for $124,900.
Here's the price breakdown for the single family sales:
That's the wrap-up for the week. If there is any additional information that you would like included, just let us know by emailing matthewcole@remax.net
Interest rates staying low and one bank below is offering a rate of 5% today. Here is a sample of rates from some of our 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.
Just on the market and priced at $279,900, this 3000 square foot home has a beautiful kitchen, first floor master bedroom and a wonderful pool in the back yard. Here is what the listing agent has to say: "The walkout basement is fully finished complete with a full kitchen that is a wonderful in-law suite and/or gathering area. The grounds feature the pool area complete with hot tub, custom-built cabana bar, and fabulous Amish built screened in gazebo!"
In the world of not-real-news...
On its first day on the market, and with almost 4000 square feet located on just over an acre of land, this fabulous 5 year old home has 4 bedrooms and 4 full baths. Located in Cambridge Springs in the Maple Grove area of north west Bloomington, the listing agent has this to say:"It is clear that the owners have spared no expense in maintaining the home which has been professionally painted throughout with warm, inviting colors, boasts custom window treatments, and a large gourmet kitchen with custom cabinets and Corian countertops. Well suited for entertaining indoors or out, the home has two decks and a pergola overlooking the lush landscaping and backyard."
Price: 429,900
The rates are looking pretty good today. Below is a sample of interest rates from local lenders. And as always on the b-town Report, rates are for a 30 year fixed rate conventional mortgage and rates are subject to change.
The Obama Administration just announced new details to help 7-9 million families avoid foreclosure by refinancing or modifying their existing mortgages. Wondering if you or someone you know qualifies for the "Making Home Affordable" program?
The new condo/PUD listings range in price with the low end being an Eagle Point condo listed for $54,900 (find our more about this listing in yesterday's listing of the day on the b-town Report). The highest priced condo/PUD of the week came in at $254,900 for a re-list in The Gables of Brighton Point. This attached PUD has three bedrooms and three full baths. The Gables is a lovely neighborhood on the east side.
As for the single family homes that are new on the market, the vast majority are listed between $130,000 to $180,000. The low priced home is 1900+ square foot 1910 bungalow in Bedford coming in at a very low $19,900. Now let's go to the opposite end of the spectrum with the highest priced new listing of the week: $625,000 will buy this 4400 square foot home in popular Hyde Park. Built in 2005, this all brick custom built home has "top shelf finishes throughout" according to the listing agent.
Now for the sales of the week: 32 properties closed, down slightly from last week's number of 35. Here's the breakdown:
On the low end, $13,000 could have bought you a 766 square foot house in Bloomfield. The highest seller of the week brought $380,000 for this 5 bedroom/3 bath home in The Stands. Here's a more in-depth price breakdown:
Those are the numbers for the week. Check in over the weekend for a great link to a real estate podcast!
Who said you can't afford to own your own place? This brand new listing is priced at $54,900. Located in Bay Point at Eagle Point, the sales price includes 20 rounds of golf! The condo is small at only 763 square feet, but it has many upgrades and a lovey view.
Thanks to Kevin Cade for this update on the new tax credit and how it works:.jpg)
The National Association of Realtors has just come out with a new statistic: 84% of home buyers start their search for a new home online. Here are links to some of the top search engines for finding homes anywhere in the country and beyond:
Hot off the press...aka just listed...This is a great house near IU on First Street. It has almost 1300 square feet plus 650 square feet in an unfinished basement. Built in 1920, this house has three bedrooms and two full baths. It's currently rented (lease through August 16th) with an estimated monthly rent of $1300 per month. Once the lease expires, you can move in just in time for the fall semester. 
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January, fell 7.7 percent to 80.4 from a downwardly revised reading of 87.1 in December, according to NAR's latest report.Here's how the PHSI fared across the country:
