Fort Wayne Real Estate

Numerous Positive Signs for Housing

Administrator — Fri, 18 May 2012 01:32:02 +0000

Daily Real Estate News | Thursday, May 17, 2012

The first quarter of 2012 was the best first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years, NAR Chief Economist Lawrence Yun said this morning at the Residential Economic Update during the NAR Midyear Legislative Meetings & Trade Expo.

Moreover, he said the second half of this year could be even better than the first, in part because of continued increases in rental costs and record affordability of homes. "Renters are getting squeezed, and they don't want to rent anymore," Yun explained. "This could be the year we see the release of pent-up demand."

Home prices have been skipping along the bottom for about a year now, Yun said, a trend that has drawn investors into the market. These investors have helped housing through a couple of difficult years and partly mitigated the dysfunctional mortgage market.

"Right now is the time to buy low," he said. "Investors are coming in to take advantage. Second homes started to recover nicely last year because of investors."

However, home values are poised for a rebound as more traditional buyers move back into the market, Yun said. In fact, this has already started to happen in areas such as Phoenix and Miami, which have seen year-over-year (March 2011 to March 2012) double-digit percentage increases in home prices.

As real estate improves, consumer psychology around home ownership will change, he added. Coupled with the recent — if relatively modest — job growth and stock market gains, conditions are right for a sustained housing recovery.

Future Challenges

Nonetheless, there are issues that could restrain a turnaround in housing. Mortgages are still too hard to come by, the shadow inventory — while declining — remains historically high, and price inflation is rising "above the Fed's comfort level," Yun said.

To address that last problem, the Federal Reserve will likely raise rates in 2013 and 2014. Yet Yun contends a modest rise in interest rates wouldn't necessarily be a bad thing for the housing market. That's because an increase in rates would cause financial institutions to focus their mortgage servicing departments on purchase loans instead of refis.

The biggest challenge, though, remains the murky political and regulatory environment, particularly the repeated threats from legislators and policymakers to alter or eliminate the mortgage interest deduction. Additionally, the country is racing toward a "fiscal cliff" on Jan. 1, 2013, the date by which a compromise federal budget must be approved. If this is delayed, there will be automatic government spending cuts, which would probably create a fallout effect in the financial markets.

North Eastern Group REALTORS are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.

Joni White, Fort Wayne REALTOR assists seniors with downsizing issues.

Administrator — Fri, 11 May 2012 22:06:36 +0000

Having moved several times over the years, Joni has a complete understanding of all of the important details that accompany a family’s move. She has experience as a mortgage lender and a closer at a title company to round out her extensive real estate knowledge. Joni always strives to keep her clients’ interests in the forefront, striving to exceed their expectations with remarkable service.

Joni is excited about using her skills to assist those who are seeking to simplify their lives. With life changing events, questions will arise that a professional can help answer. If you are at or nearing a point that involves making major decisions, you will find that Joni will be there to offer invaluable home marketing an purchasing information, a high level of professional real estate expertise and a path to your overall peace of mind.

At North Eastern Group Realty, our REALTORS are prepared to assist clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

North Eastern Group Realty Welcomes Nick Harris!

Administrator — Mon, 07 May 2012 22:30:27 +0000

North Eastern Group Realty is proud to announce that Nick Harris has joined our growing group of Fort Wayne’s top real estate professionals. North Eastern Group Realty is committed to changing the way northeastern Indiana views real estate through real knowledge, proven experience and professional, quality service.

Nick’s familiarity with and use of technology along with his knowledge of the industry allow him to serve his client’s real estate needs quickly and efficiently. He prides himself in continuous learning to keep up with the constant changes in all aspects of the real estate transaction.

Nick, a graduate of Leo Jr. /Sr. High School, has lived in the Fort Wayne area his entire life. After high school, he received a degree in Marketing from Indiana-Purdue Fort Wayne which he utilizes to create maximum exposure for the homes he sells.

Contact Nick at 260-403-8523 or nickharris@northeasterngrouprealty.com.

Amazing Buescher Home in Hawthorne Park Estates

Administrator — Mon, 07 May 2012 02:38:31 +0000

The annual Fort Wayne Home Builders Town and Country New Home Tour featured this amazing Buescher homes at Hawthorne Park Estates. Bob Buescher’s ability to design a home specifically for the selected home site is fully demonstrated in this home that takes full advantage of the pond views and future pool view from almost every room in the home. Hundreds of visitors were impressed with Bob’s designs.

Hawthorne Park Estates is the most popular new community since Hawthorne Park dominated the luxury new home market from 2001 – 2005. Section I of Hawthorne Park Estates was sold within the first 4 months of completion. With the Parkview Regional Medical Center within walking distance of Hawthorne Park Estates, this is the perfect location for new home buyers.

For more information on Hawthorne Park Estates, call Kim Ward at 260-437-9844. North Eastern Group Realty agents are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

March Pending Home Sales Rise, Market Recovering

Administrator — Thu, 26 Apr 2012 22:26:50 +0000

According to REALTOR Magazine, pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of REALTORS®.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9. The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing. “First quarter sales closings were the highest first quarter sales in five years. The latest contract signing activity suggests the second quarter will be equally good,” he said.

“The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

If you are looking to buy or sell a home in this improving market, North Eastern Group Realty is prepared to assist with your significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

Report shows a strong first quarter that sets the stage for the best selling season in years!

Administrator — Mon, 23 Apr 2012 20:40:27 +0000

(INDIANAPOLIS, IN) – The statewide housing market out-performed itself on all but one indicator during the first quarter of 2012 when compared to the same three months – January, February and March – of last year.

According to the Indiana Real Estate Markets Report today released by the state’s REALTORS®:

     • The number of closed home sales increased 15 percent to 12,470;
     • The median sale price of those homes increased three percent to $105,599;
     • The average sale price increased 2.4 percent to $126,652;
     • The number of pending sales increased 15.7 percent to 15,328; and
     • The number of new listings increased 1.8 percent to 29,341.

The percent of original list price received did not increase during the first quarter of 2012. It decreased less than a percent, but at 89.1 percent it is within the same range that this indicator has been for the last few years. When comparing March 2012 to March 2011, the percent of original list price received did not change from 89.9 percent.

“With buyers starting to jump into the marketplace, this year’s traditional selling season is shaping up to be the best we’ve seen in years,” said Karl Berron, Chief Executive Officer of the Indiana Association of REALTORS®. “But, as we’ve repeatedly said, more Hoosiers must be working and they must be confident in their prolonged employment for 2012 to continue this steady progress that has taken hold.”

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

Beautiful new villa in The Courtyards of Dawsons Creek.

Administrator — Sun, 22 Apr 2012 23:42:53 +0000

The beautiful landscaping in the front and the back of this villa in The Courtyards of Dawsons Creek is the perfect finishing touch for this home completed just in time for the Town and Country New Home Tour from noon to five April 24th and 25th and May 5th and 6th. The Courtyards of Dawons Creek is a 55 and over villa community located in popular NW Allen County. Residents enjoy a short walk to the Parkview YMCA and miles and miles of walking trails.

This villa is 1564 sf with an open, spacious design, custom cabinetry and neutral decor. Come and see it during the Town and Country Tour or contact a North Eastern Group Realtor for a private tour at 260-489-7095.

North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.

Indiana Association of REALTORS 2012 Leadership Class gets Communication Training

Administrator — Fri, 20 Apr 2012 02:12:43 +0000

Peter Mosca (www.petermosca.com) provided thought provoking material to the 2012 Indiana Association of REALTORS Leadership Academy this week. The class was entitled “Effective Communications Skills for the REALTOR Leader.” Mosca taught the class that it is our responsibility as REALTORS to take control of the discourse and let people know how REALTORS work to assist clients with the largest single investment they are likely to make in their lifetime and contribute to the communities in which we live.

Mosca reminded us that successful communication requires forethought and planning so that we can be prepared when the media approaches us to discuss our industry. For example, we should be prepared to articulate that REALTORS have unparallelled local market knowledge, are skilled negotiators and are transaction troubleshooters.

Fort Wayne Housing Market Showing Positive Signs

Administrator — Sat, 14 Apr 2012 02:48:26 +0000

Consumer confidence is as high as it has been in a year, and the Federal Reserve reported growth in all of its 12 banking districts in 2012 through the first half of February, including more hiring and home sales. There are still some challenges to work through, but pessimism is no longer in vogue. Laments over things like unemployment and high gas prices are being replaced with chatter about job prospects and sensible home shopping. The economy and housing market are by no means recovered, but it’s okay to think positive.

• New Listings increased 29.3 percent to 926.

• Closed Sales were up 27.0 percent to 372.

• Inventory levels grew 7.9 percent to 3,978 units.

• The Median Sales Price increased 8.3 percent to $91,000.

• Percent of Original List Price Received decreased 2.8 percent to 90.4.

• Months Supply of Inventory was up 3.4 percent to 7.9 months.

North Eastern Group Realty Welcomes Joni White!

Administrator — Wed, 28 Mar 2012 20:02:57 +0000

Prior to getting her license in 2006, Joni worked in the mortgage lending business in Dallas, TX for 5 years. Then, when she returned to Indiana she took a position as a title closing agent for 6 years. These years gaining knowledge and experience in all aspects of the real estate transaction enable her to assist her clients understand and navigate all aspects of buying or selling a home.

Joni and her husband Bill are celebrating 25 years of marriage this year, and they have two college age children.

Joni is an avid learner with her Accredited Buyer Representative Designation (ABR), and a Short Sale and Foreclosure Designation (SFR) from the National Association of REALTORS.

Joni is a Lions Club member and has been a chairperson for “Free to Breath” which is part of National Lung Cancer Partnership and endeavors to raise money for research, awareness and change.

North Eastern Group Realty is honored that Joni has elected to join our organization. Joni has built a successful real estate career by putting her clients’ interests first, staying ahead of the trends, and continually adding to her skill set.