- Fifth Third Bank (www.53.com): 5.00%
- Premier Home Mtg. (www.premierhomemortgage.com): 4.875%
- Regions (www.regions.com): 4.875%
- United Commerce Bank (www.unitedcommercebank.com): 5.00%
Your real estate market report for the greater Bloomington Indiana area. This blog is updated by Realtor Matthew Cole of RE/MAX Acclaimed Properties. He can be reached at 812-606-8558 or matthewcole@remax.net.
Thursday, April 30, 2009
A Sample of Today's Interest Rates From Local Lenders
Neighborhood Watch...Elm Heights Update
- 528 S. Highland Avenue is a lovely 2 bedroom, 1 1/2 bath home that has been beautifully decorated. The lot is quite small but has a very private outdoor sitting area. Priced at $269,500
- 1040 E. Maxwell Lane is a unique home whose original structure is a 1957 Lustrum home. It now has 5 bedrooms and 2 full baths. The floor plan in non-traditional but very interesting. Priced at $285,000.
- 1212 E. First Street is a California ranch that has been fully renovated and is located on one of the areas most lovely streets. It has 5 bedrooms and 3 full baths and is priced at $549,900.
Wednesday, April 29, 2009
The 5 Major Cities with Major Price Reductions
According to Trulia.com, the nation's largest cities are having the greatest price reductions. Here are the numbers:
- NYC: Average home price $2,090,851...average price reduction 14%
- LA: Average home price $1,012,041...average price reduction 13%
- San Fran: Average home price $1,253,618...average price reduction 13%
- Boston: Average home price $706,739...average price reduction 8%
- Houston: Average home price $312,266...average price reduction 6%
Tuesday, April 28, 2009
A Sample of Today's Interest Rates...4.875% is the popular number of the day!
- Premier Home Mortgage (www.premierhomemortgage.com): 4.875%
- Regions (www.regions.com): 4.875%
- United Commerce Bank (www.unitedcommercebank.com): 4.875%
Monday, April 27, 2009
Condo Sales Year-to-Date
Since the first of the year, 32 condo's/PUD's have sold in Bloomington, compared to nearly 200 single family homes. Here are some stats on those condos:
- High selling price: $240,000
- Low selling price: $55,000
- Average selling price: 96,597
- Average days on the market: 127
- Average price per square foot: $75.00
This category includes condos, townhouses and attached patio homes
Sunday, April 26, 2009
Have New-Home Sales Found the Floor?
Friday, April 24, 2009
120 Kirkwood: Bloomington's Newest Urban Condos in the Heart of Downtown
Thursday, April 23, 2009
The Top Ten Cities Where Home Prices Could Still Fall
From REALTOR.ORG/realtormag:
With incomes falling and loans remaining hard to get, the best bargains are probably yet to come in some of the nation’s largest housing markets, predicts Forbesmagazine.
To figure out which housing markets still haven’t hit bottom, Forbes calculated the spending power, unemployment, credit availability and housing stock over the last 27 years in the country’s 50 largest metropolitan statistical areas.
The projections determined how much each area’s home prices would have to change to bring that housing market into historical balance. Analysts said the employment rate is the great unknown. The more employment falls, the more likely home prices will follow.
Here are the 10 cities where Forbes believes prices are likely to continue to fall the most:
- Orlando
- Miami
- Jacksonville, Fla.
- Tampa
- Los Angeles
- Phoenix
- Las Vegas
- Oakland, Calif.
- San Diego
- New York
Source: Forbes, Matt Woolsey (04/17/2009)
Wednesday, April 22, 2009
Average Home Sales Prices for Bloomington Are Up From the First Quarter of 2008
Matthew Cole's Pick Listing of the Week
Tuesday, April 21, 2009
A Sample of Today's Interest Rates
- Fifth Third Bank (www.53.com): 5.00%
- Monroe Bank (www.monroebank.com): 4.75% with .5 points
- Premier Home Mtg. (www.premierhomemortgage.com): 4.875%
- Regions (www.regions.com): 4.875%
- United Commerce Bank (www.unitedcommercebank.com): 5.00%
City of Bloomington Announces Grand Opening of EverGreen Village
The ceremony will take place on Wednesday, April 22, from 1:00 - 3:00 p.m. at 2121 Susie Street, near the intersection of Rockport Road and Countryview Lane.
Speakers from the City and the United States Department of Housing and Urban Development (HUD) will be on hand to discuss the project's significance, both as an effort to create affordable housing and as a sustainable initiative.
At the grand opening event, the public will be invited to walk the sidepaths, cross a bridge constructed with recycled milk jugs and tour a home furnished with reused items from Habitat for Humanity's ReStore.
For more information, please contact Robert Woolford, Program Manager for the City of Bloomington HAND Department (812) 349-3580 or visit website: http://bloomington.in.gov/evergreen
Monday, April 20, 2009
New Guidelines for Rural Housing Loans
If you have been considering a Rural Housing Loan, which can mean 100% financing and other benefits if you purchase a home outside of a 3 mile radius of Bloomington City, there is good news in regard to qualifying income. This is from Lisa Sherfield of Bloomfield State Bank:
Hi, there has been a change effective today with the income limits for the guaranteed loan program. 1 – 4 family the income limit is $73,600.00 and 5 -8 income limit is $97,150.00. So a single person can now make up to $73,600.00 and still qualify for the loan program as there are only two income divisions.
If you have any questions please give me a call and I will help you in anyway that I can.
Thanks,
Lisa
Lisa K. Sherfield
Mortgage Loan Officer
Bloomfield State Bank
1301 N. Walnut Street
Bloomington, IN 47404
PH – 812-334-905
And here's a bit more information from Nathan Finney of Premier Home Mortgage:
Please see below for a refresher on the highlights of USDA Rural Housing:
Provides 100% loan-to-value financing for existing homes based on appraised value.
No requirement to be a "first-time" home buyer.
No monthly mortgage insurance required.
One-time guarantee fee, payable to Rural Development (RD) at closing, which may be financed above the appraised value, as follows:
Purchases - 2.00% of loan amount
Fully amortized 30-year fixed-rate loans.
No penalty for pre-payment.
No maximum loan limit. Loan limits are dictated by the applicant's income with respect to program eligibility and loan repayment ability.
Check here for property and income eligibility....
USDA Rural Housing Eligibility
Sunday, April 19, 2009
This Material Girl Isn't Messing Around
According to www.trulia.com: Madonna broke neighborhood records, paying $40M for her four-story Georgian-style townhouse. The double-wide boasts 26 rooms, nine fireplaces, an elevator, wine cellar, garden terrace, library, 38' by 22' drawing room overlooking the garden and a 3,000-square-foot garden. Listed for $42,000,000.00
Saturday, April 18, 2009
Inexpensive Staging Ideas for Your Living Room
Create a Focal Point
"Pick out the most visible corner and put a large plant—I've found that silk trees work best. Set up a spotlight behind it so it lights up the leaves and throws an interesting shadow on another wall. It really makes a difference in a person's perception of the space, especially if it's a large room without too much natural lighting."
—Izabela Stone, Keller Williams Realty, Apollo Beach, Fla.
Set Up a Chat Room
"Be sure that the living room furniture is positioned for conversation as well as entertainment. Potential buyers should be able to easily envision sitting in a space where they can easily talk without having to move a chair or turn completely around."
—Rana Lindhorst and Troy Schmidt, Prudential One Realty Centre, Edwardsville, Ill.
Get Rid of Carpet Dents
"Furniture often leaves indentations in the carpet. When a piece of furniture is moved, I tell my clients to put medium-sized ice cubes in the imprints. As the ice melts, it causes the compacted carpet to expand and erase those imprints."
—Shawn Moss, Century 21 C.R. O'Neil & Co.
Friday, April 17, 2009
Market Update for the Week Ending April 17th
On the national level, 10 of the top national markets are showing signs of improvement in the past month. What if they had all of the economic benefits of Bloomington Indiana! Here are the week's numbers:
- 92 New Listings (93 last week)
- 27 Sales (28 last week)
- 38 Pending Sales (66 last week)
The numbers stayed basically the same from last week with the exception of new pending transactions. This can be due to the fact that many Americans spent this past week scrambling to get their taxes together before the 15th deadline...myself included.
Here's the breakdown of the new listings:
- 6 Condo/PUD's
- 11 Land Listings
- 5 Commercial Listings
- 70 Single Family Homes
Breaking down the prices of the new single family listings:
- 2 priced over $1M
- 2 priced in the $500K's
- 3 priced in the $400K's
- 2 priced in the $300K's
- 17 priced in the $200K's
- 11 priced from $150K to $199K
- 19 priced from $100K to $149K
- 10 priced under $100K
The sales of the week ranged in price from a $29,900 manufactured home on a third of an acre in Linton all the way up to a $2,000,000.00 commercial listing on Rogers Street. Here's the price breakdown:
- 1 sold in the $400K's
- 8 sold in the $200K's
- 11 sold in the $100K's
- 6 sold under $100K
Home staging tips and more are coming on Saturday and Sunday to the b-town Report. Have a great weekend!
Thursday, April 16, 2009
How is the Market Fairing This Month?
The first 10 days of April for the Bloomington area real estate market are up from a year ago and in line with 2007. Here are the numbers for all sales with the BBoR MLS system:
- First 10 days of April 2007...39 sales
- First 10 days of April 2008...33 sales
- First 10 days of April 2009...38 sales
Let's see how the rest of the month fares.
Wednesday, April 15, 2009
A Sample of Today's Interest Rates
- Fifth Third Bank (www.53.c0m): 4.875%
- Monroe Bank (www.monroebank.com): 4.75% with .375% of a point
- Regions (www.regions.com): 4.875%
- United Commerce Bank (www.unitedcommercebank.com): 5.00%
Neighborhood Watch - Bittner Woods
- 2716 Bluff Court is a 3 bedroom home with 1765 square feet and is offered at $260,000
- 1515 Woodruff Lane is a 5 bedroom/4 bath home with over 5500 square feet and is offered at $649,900.
Recent sales within the past year include:
- 2715 Bluff Court which sold for $240,000
- 1551 Woodruff Lane which sold for $264,000
- 2721 Pine Lane which is pending with a list price of $374,900
Tuesday, April 14, 2009
Nicolas Cage Puts His Las Vegas Home on the Market
6 br 5 ½ ba 14,306 sqft Single-Family Home
Description provided by Realty Trac. This Single-Family Home located at 5100 Spanish Heights Drive, Las Vegas NV 89148 is currently for sale and has been listed on Trulia for 170 days. This property is listed by REMAX BENCHMARK REALTY for $9,490,000. 5100 Spanish Heights Dr has 6 beds, 5 ½ baths, and approximately 14,306 square feet. The price per square foot is $663. The property has a lot size of 15,682 and was built in 2003. 5100 Spanish Heights Dr is in the 89148 ZIP code in Las Vegas, NV.
Monday, April 13, 2009
Market Report for the Week Ending April 10th
An article in the New York Times this past week stated that the real estate market for Manhattan was finally feeling the the squeeze of the economy because of all the changes on Wall Street. That decline of the Manhattan market will have a large effect through out the metropolitan New York area.
Other sectors of the economy are starting to see subtle signs of improvement. As for the Bloomington real estate market, it is strong and active. Here are the week's numbers:
- 93 New Listings
- 28 Sales/Closings
- 66 Pending Transactions
As for the new listings here's the breakdown:
- 5 Condo's/PUDs
- 1 Multi Family
- 28 Land Listings
- 1 Commercial Listing
- 58 Single Family Listings
Many of the 28 land listings are for a new sub-division with large lots priced between $50,000 and $100,000. The community is called Muirfield and is located on the near north side of Bloomington. The lots range in size from over an acre and up to over 4 acres.
Here's the breakdown for the new single family listings:
- 16 priced below $100,000
- 14 priced between $100,000 and $150,000
- 7 priced between $150,000 and $200,000
- 6 priced between $200,000 and $250,000
- 4 priced between $250,000 and $300,000
- 3 priced between $300,000 and $400,000
- 2 priced between $400,000 and $500,000
- 1 priced at 995,000
- 1 priced at $1.095,000
As for the 28 sales of the week, six of them were for homes priced over $250,000 with the high seller going for $425,000. Here are the sales numbers:
- 3 Condo/PUDs priced from $109,000 to $255,000
- 24 Single Family homes
- 1 Commercial listing.
Thursday, April 9, 2009
A Sample of Today's Interest Rates
- Fifth Third Bank (www.53.com): 4.875%
- Monroe Bank (www.monroebank.com): 4.75% with half a point
- Premier Home Mtg. (www.premierhomemortgage.com): 4.875%
- Regions (www.regions.com): 5.00%
- United Commerce Bank (www.unitedcommercebank.com): 5.00%
The New HomeFinder.com Launches It's New Site
Direct from the pages of Realtor Magazine Online:
"Ever hear of Homefinder.com? If not, you probably will. The company, formerly known as Homescapes, is launching a $40 million nationwide ad campaign in the real estate sections of 133 newspapers. The ads will run on Sundays throughout 2009.The goal, says company CEO Tim Fagan, is to get the Web site on consumers' radar screen. An initial ad shows a man with spiky hair mimicking the pitch of the roof of his home. The second ad depicts a woman’s red lipstick matching the door of her home.Participating papers include: the Chicago Tribune, Arizona Republic, Miami Herald, Los Angeles Times and Indianapolis Star." Source: MediaPost.com, Les Luchter (04/06/2009)
Wednesday, April 8, 2009
More First Quarter Numbers for Bloomington's Real Estate Market
- Total pending sales: 140
- 17 priced under $100,000
- 18 priced from $100,000 to $124,999
- 26 priced from $125,000 to $149,999
- 20 priced from $150,000 to $174,999
- 11 priced from $175,000 to 199,999
- 26 priced from $200,000 to $299,999
- 13 priced from $300,000 to $399,999
- 8 priced from $400,000 to $499,999
- 0 priced from $500,000 to $599,999
- 1 priced from $600,000 and over
Tuesday, April 7, 2009
A Sample of Today's Interest Rates
- Fifth Third Bank (http://www.53.com/): 4.875%
- Monroe Bank (http://www.monroebank.com/): 4.875% with .375% points
- Premier Home Mtg. (http://www.premierhomemortgage.com/): 4.75%
- Regions (http://www.regions.com/): 5.00%
- United Commerce Bank (http://www.unitedcommercebank.com/): 5.00%
First Quarter Stats for Bloomington's Real Estate Market
- Average size of home: 1908 square feet
- Average list price: $193,862
- Average sales price: $179,823
- Average price per square foot: $92
- Average days on the market: 119
- Percentage of sales price to list price: 93%
Monday, April 6, 2009
How Many Days on the Market is Standard for a Listing Bloomington?
- Homes priced under $100,000: 79 days on the market
- Homes priced between $100,000 and $150,000: 108 days on the market
- Homes priced between $150,000 and $200,000: 118 days on the market
- Homes priced between $200,000 and $250,000: 93 days on the market
- Homes priced between $250,000 and $300,000: 159 days on the market
- Homes priced between $300,000 and $400,000: 131 days on the market
- Homes priced between $400,000 and $500,000: 212 days on the market
- Homes priced between $500,000 and $600,000: 307 days on the market
- Homes priced between $600,000 and $1M: 288 days on the market
- Homes priced over $1M: no data due to no sales over $1M in 2009
Homes priced under $100K are moving very quickly. For the majority of homes that sell in this market you are looking at 3 to 4 months as the average time it takes to sell a house. Of course the desirability of the neighborhood, condition of the home and home staging are all factors that can alter the average.
Sunday, April 5, 2009
Market Report for the Week Ending April 3rd
- 85 New listings
- 22 Sales/closings
- 41 properties went pending
As for the new listings, here's the break down:
- 26 Condos/PUDs
- 7 Land listings
- 2 Commercial listings
- 50 Single family homes
The single family homes new to the market range in list price from $55,500 for a 1930's bungalow in Columbus to a $2,950,000 estate on Bloomington's East Side consisting of over 10 acres and 9200 square foot house. The majority of new listings are priced from $100,000 to $200,000 with only 5 listings priced over $400,000.
As for the week's sales, all were single family homes except one land and one commercial listing. Here are the numbers:
- 4 sold for under $100,000
- 5 sold from $100,000 to $150,000
- 6 sold from $150,000 to $200,000
- 2 sold from $200,000 to $250,000
- 1 sold for $298,000
- 1 sold for $415,000
- 1 sold for $491,076 (interesting price)
As for the newly pending properties, many were in the higher price range from the $300's to the $500's.
Interest rates ended the week still below 5% with many lenders so the spring market is looking strong for Bloomington for both buyers and sellers.
Friday, April 3, 2009
How Many Homes in Monroe County Carry a Mortgage?
- 1,526 second mortgage,
- 1,627 home equity loan,
- 78 both second mortgage and home equity loan
- Houses without a mortgage: 5,303
In Monroe County 73.1% of homes have a mortgage. State wide 70.9% of homes have a mortgage.
Source: City-Data.com
Thursday, April 2, 2009
Check Out This Handy Web Site
Thanks to Jean Cannon for this bit of information. If you ever want to speak directly with someone at a business, this site gives you directions on how to reach a human being directly. I have spent too much time hitting 0 over and over and you'll find out that it's not the way with a lot of businesses. Though this isn't real estate related, it was too good not to pass along! http://www.dialahuman.com