Evansville, IN Real Estate News

By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Contracts to buy previously owned homes in the United States neared a two-year high in January, an industry group said on Monday, further evidence the housing market was slowly turning the corner. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in January, increased 2 percent to 97 points, the highest reading since April 2010. New contracts generally lead sales by a month or two. Housing data ranging from home building to resales have been relatively upbeat, buttressing other signs of underlying economic strength that should help the recovery better withstand rising gasoline prices and a recession in the euro zone. The housing market is becoming less of a drag on the economy, and home construction is expected to add to growth this year f...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
For people in the first stages of their Evansville real estate search, entering a 5-number zip code seems to anchor almost every step of the way. That’s a quick way for computer databases like the MLS to direct searches, but there are some not-so-apparent facts about zips that it’s good to keep in mind.   School district Those of us who spend our professional lives assisting others to buy and sell homes in Southwest Indiana know it to be true. Many future homebuyers – even those who currently don't have children -- base much of their search direction on the type and quality of nearby schools. Families want the option of being able to settle down, and most hope to be within hailing distance of good schools. But zip codes can exist in more than one school district, and many neighborhoods ...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
We have all been reading about how mortgage rates fell again in January. It seems as if half the time news like that is accompanied by some phrase like, “encouraging new buyers to dip their toes into the housing market."   Checking into it, I found that the average interest rate on conventional 30-year mortgage loans decreased eight basis points (to 4.32%) in December. That came from FHFA in their last full report. And by February 17th 2012, their site showed it was down to 3.87%. It looks like some of that toe-dipping might be about to start in earnest!   Just in case you are one of those ‘new buyers’ who might be feeling some of that ‘encouraging’, sooner or later you will learn that the government’s national rate is not the final word on everyone’s situation. It’s why I would sugges...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
If you are a newcomer to Evansville real estate investing, finding your first income-generating property can seem like a fairly daunting task. How can you be sure that a property will generate enough cash flow? How will you estimate your costs to put potential homes for rent into the profit column? Altogether, how will you know when you find the right opportunity?   First, you have to view the competitive landscape in Evansville this spring, which means doing some targeted research. You might start by attending local seminars or looking into a local property club. These types of groups can help arm you with the economic trends that will serve as a guide. You will also want to call one or two reputable Evansville property management companies to get a general idea of the costs you should...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Market Watch January 2012 closed volume was the best January our market had seen in four years. Closed sales in January 2009 through 2012 have been; 197, 198, 220 and 241. Although January is typically the slowest month of the year for real estate closings this 9.5% increase in 2012 following the 11.1% increase in 2011 suggests that our market is showing steady improvement. Our local figures mirror the nation which also had a bump in January volume. Although resale home sales are off to a good start new home construction is still slow. Just a little over 300,000 new homes were built nationwide last year. Prior to the financial crisis new home construction had not been less than 1 million units for 15 consecutive years. This slowdown will also improve. The short explanation is that there...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
While most sales people don’t hold a degree in psychology that science winds up playing a major role in the sales process. Most highly experienced listing agents not only understand this -- they use it to Evansville sellers’ advantage. According to a 2010 study by Avid Ratings published in the Los Angeles Times, typical home buyers have a simple hierarchy of preferences: they want it all. Even when pressed to name what they are willing to do without, the typical homebuyer’s long list of “must haves” remains pretty much untouched. What they are not willing to compromise on are home offices, walking paths, children’s playgrounds and large kitchens. Large rooms, in fact, sell homes. Even if your house is full of small rooms, your listing agent can help them appear larger by hiring a home ...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
The bedrock of the residential real estate industry is the American Dream of owning your own home. But the current market has seen a rise in another facet of the industry: the ‘strictly business’ opportunity created by the rise in Evansville and Newburgh foreclosure listings. Everyone from first time buyers to seasoned investors are newly aware that housing market conditions warrant a serious look at the unusual bargains that are opening up.   The appeal is understandable due to some commonsense consequences caused by the mortgage meltdown (and the headlines that followed). When banks come into possession offoreclosed properties they find themselves in an unenviable position. Incented to sell them as soon as they can, they aren’t free to wait until the market rises to meet historic pric...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
January’s typical Evansville homebuyer assumes that buying a pre-owned residence saves money. Period. And in fact, most often that is true. Buyers rightly expect that pre-owned houses are more affordable than comparable new homes for sale. But what about the buyer who can qualify for a slightly higher mortgage? Would it be a better idea for them to also consider new homes for sale rather than to simply fixate on the immediate cash savings that go along with buying an older property?   The fact is, there are both benefits and drawbacks that deserve looking at no matter which choice you wind up making.   One practical advantage to buying new homes for saleis that you know that you and your family will be living in a house built to conform to the latest standards in materials and construct...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
The Growth Alliance for Greater Evansville is reporting what it describes as a record 2011. The organization says it helped 10 companies with their decisions to locate or expand in the Evansville area. GAGE also says it has helped secure commitments for nearly 1,000 jobs over the next five years. he Growth Alliance for Greater Evansville (GAGE) released today, its 2011 Annual Report to the Community. The Growth Alliance began 2011 with new areas of strategic focus, a reallocation of resources, and specific performance objectives. GAGE focused on their mission of bringing jobs and revenue growth to Evansville and Vanderburgh County and met or exceeded those objectives by focusing on attraction, retention, and expansion of businesses that can drive long-term sustainable economic growth; a...
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By Brenda Hughes, Home Staging & Re-Design Southern IN, KY
(Evansville Home Staging & Re-Design)
People form their first opinions before they step inside a home. Forty-nine percent of buying decisions are made from the street, according to the National Association of Realtors®. But curb appeal matters whether or not your house is for sale. An attractive, well-maintained house and yard welcome friends and family and give you a little lift every time you come home. 1. Tackle Maintenance Details:          Mow the lawn, trim the borders, and edge the driveway and walks. Every line should be straight and every edge crisp. Refresh the mulch. Power wash the siding, and scrub the soffits and eaves. Wash the windows, and polish every reflective surface until it gleams. Jupiterimages/Comstock/Getty Images  2.  Clean the Walks and Driveway:      Clean and patch the sidewalks, steps and drivew...
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By Ann Gioe, CRP, GMS, Central and Southern Indiana Real Estate
(Berkshire Hathaway HomeServices Indiana Realty)
In our quest for world dominance.......well, at least to keep expanding our Indiana coverage - we now have an office in Evansville, Indiana! They were already a Prudential office operating as Prudential Prime Properties - but they have now joined our alliance and have rebranded as Prudential Indiana Realty. Same great office, same great agents (cue the Batman music). They are located at: 4111 Washington Avenue, Evansville 47714 and can be reached at 812-474-7000 You can find all their agents and other information on our company website at: www.PrudentialIndiana.com Evansville is located in SW Indiana right on the Ohio River. A mecca of activity and opportunity. We welcome them to the family and look forward to an awesome future together. Here's a little video view of Evansville.....
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Market Watch   Last December in Market Watch, I made several specific predictions about what I thought our housing market would do in 2011. My projections from last December have proven to be accurate. As I said then, the fact that we had two tax credit programs made specific monthly forecasting easier. The one area I missed a little was interest rates. I said last year that rates would rise. I still believe that rates will increase but it appears that it will take a little longer than I thought. Partially because the Federal Reserve has kept short term rates low, fixed rate mortgage loans have remained at historically low levels. The National Association of Realtors (NAR) has forecast a 4-5% increase in homes sold nationally in 2012 compared to 2011. Although Indiana’s business environ...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Its the tenth anniversary of the Veteran's Invitational Soccer Tournament and it's currently underway in Evansville. The event, put on by the Evansville Soccer Club brings in more than 4,000 soccer players from 8 different states. Along with the many teams that benefit from the tournament, the city of Evansville and surrounding areas receive a huge economic boost. The annual tournament is the largest youth sporting event in Southwestern Indiana. The Evansville Convention and Visitors Bureau reports the two weekend tournament brings an estimated 5 million dollars to the local economy. Organizers say that more than 250 teams are competing in this weekends tournament, which brings nearly 10,000 families from across the Midwest. Evansville Soccer Club President, Jim King says this event is ...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Home sales in the Evansville area were up nearly 15 percent in the third quarter of 2011, compared to the same period last year, with Gibson County the only county in a four-county Southwestern Indiana metro area showing a slight decline. At the same time, Gibson County led the way with a sharp increase in median home prices, an apparent result of near-back-to-normal operations at Toyota Motor Manufacturing Indiana near Princeton. Median prices also rose in Vanderburgh and Warrick counties. The median increase in the four-county area was more than 10 percent better than in the July-September period last year, with a decline reported only in Posey County. Still, the developments last quarter are part of a year where home sales in Vanderburgh and the three surrounding Hoosier counties tog...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Several times over the past few months I have suggested that we need more listings because properly priced listings are selling. There are three reasons that I feel so strongly that this is the case. First, the number of listings on the market is below historical norms. We currently have less than 2900 active listings in our area. This compares to a high of over 3700 listings, or a reduction of 25%. Second, is that our month’s supply has remained pretty consistent since February at levels lower than the previous two years. Third, our prices have stabilized at levels about 3% above last year’s prices. Keep in mind this information applies to the housing market in this area only, not the entire country. I have been confident that good listings are selling for some time now but received so...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
On Saturday, October 29, the Drug Enforcement Administration (DEA) will be sponsoring the third nationwide "Prescription Drug Take Back" initiative. The "Take Back" initiative seeks to prevent increased prescription drug abuse and theft. Collection sites will be set up nationwide as collection points for expired, unused and unwanted prescription drugs for destruction. This service is free and anonymous, no questions asked.The Indiana State Police will once again be participating in this initiative. All state police posts are available as prescription drug drop off sites with the exception of the Toll Road Post in Bristol. Citizens in southern Indiana wishing to participate in this program may drop off their prescription drugs for disposal at the Indiana State Police Post in Evansville l...
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
Another housing market slump may be on the way but Evansville realtors are not worrying about it. The President of the Evansville Association of Realtors Chris Dickson says home sales are up from last year. Dickson tells NEWS 25 July sales were up 19 percent and up 33 percent in August. He also say the average price is also up 20 percent because people are buying more expensive homes. Dickson tells us less foreclosures are coming onto the market but there are still several foreclosure properties sitting vacant in Evansville. Source: http://www.news25.us/story/15617516/evansville-realtors-not-worried-about-housing-market
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
The Solid Waste District conducts tire recycling programs each year in the spring and fall for the residents of Vanderburgh County. These programs provide an environmentally proper method of disposal of used tires so that they are kept out of the landfill and are not illegally dumped. There is a $1 per tire fee for car & light truck tires. Semi tires are $10 and tractor tires are $25. Tires from businesses are not accepted. The District accepts an unlimited number of tires free of charge from neighborhood associations and other civic groups who collect unwanted tires from alleys, roadsides and ditches. Location: Civic Center Parking Lot 8:00 a.m. - 12:00 noonSaturday, October 15
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By Rolando Trentini
(F.C.TuckerEmge Realtors, LLC)
2011 continues to be a year of distinctly different halves. For the first five months of this year local sales, in units, compared to last year were down almost 13%. For the past 3 months the same comparison shows that unit sales are up over 12%. I believe that by year end we will have sold slightly more units than we did in 2010 and I’m positive that the dollar amount of sales volume will be significantly higher than last year; perhaps close to 10% higher.   The supply of homes for sale on the market has also been more stable and more in balance. For the 10 months starting last July there was an average of just over 10 months supply, with a high of over 13 months supply. Since May we have averaged just under 8 months supply with a high of less than 9 months.   I recently read an articl...
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By Brenda Hughes, Home Staging & Re-Design Southern IN, KY
(Evansville Home Staging & Re-Design)
The listing agent asked me to talk to this couple about getting their home ready to sell.  He felt the extra clutter and some of the outdated features of the house would delay the sell of the house and he was right.  I gave them a lots of suggestions for making the house look more appealing to buyers.  I also spent a great deal of time explaining why its important to do these things.  (I've learned that when people understand the "why" they're more inclined to listen.)  When I suggest they replace certain light fixtures and some hardware in the bathrooms that is dated, I get back that they don't want to spend any more money on fixes to the house, let the new owners do it... Well here is a surprise, guess what the new owners don't want to do it either!  Buyers in this market do not want ...
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