INDIANAPOLIS – October housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across Central Indiana , while a decrease in available inventory reduces competition among sellers, according to pended sales statistics compiled by F.C. Tucker Company.

“Contrary to perception, mortgage money is widely available and rates are quite good. Combined with a steady demand for housing, we are seeing the number of homes for sale in Central Indiana continue to drop,” said Donna Kreps, Executive Vice President of Tucker's Residential Real Estate Services Division. “Home buyers are still experiencing unprecedented opportunities throughout Central Indiana .”

Available homes for sale dropped 12.7 percent in October with 17,746 homes on the market, 2,582 fewer homes than in October 2007. Marion County experienced the grea test decrease in inventory at 18.5 percent.

Central Indiana homes are holding their value better than other real estate markets. The average year-to-date sales price for a home in the nine-county area was $145,779, 5.2 percent less than what was reported in October 2007. In comparison, the la test data from the National Association of REALTORS® reported the national average year-to-date sales price was 9 percent lower than the same period last year, as of September 2008.

Of the nine counties, Hancock County was the only one to experience an increase in homes sold in October, with a 23.8 percent increase in sales compared to the same time last year.

The average number of days on the market is 93 days, a 6.9 percent increase comparing year-to-date figures from 2007 and 2008. Hamilton County boasts the shor test amount of time – 83 days – for homes on the market through October 2008.

With all the work and good effort that has been put in to building of the Monon Trail in Indianapolis, security has become an issue this due to some assaults that have happen to trail goers.

Now the city has stepped up security patrols on the trail and now the city is installing cameras along some areas of the trail to help cut down on some crime. Some local area residents are up set about the cameras because the cameras have been taken from other neighborhoods. People of those neighborhoods are not happy that they are losing their security cameras. Indianapolis has been installing more cameras in Marion county after studies shows that the cameras are a great way to detour crime.

The activity in the Indianapolis Real Estate market has been slightly better in the last couple weeks due to the nice fall weather that the area has had. Open houses have been active and people are looking to purchase or looking for their next purchase.

Mortgage rates are still great! FHA still has a great loan program and also offers a restoration program for the investor.

Indianapolis homes sales have not had the down turn that many other areas of the country have had. Areas of the city have had more sales but lower prices. This probably because there have been more foreclosures this year. The higher end home sales have slowed due to more economical concerns with the lowering stock markets. It is projected that in the next 9-18 months the trend will change and sales will increase in all areas.

For now there are a vast amount of good opportunities in all price ranges for those buyers who are first time buyers or buyers that are just looking to upgrade size of home.

Rate cuts bank bailouts and now talks of helping GM. I just don’t understand how all this is going to help the American Joe the plumber.

Joe the plumber needs work. You can give money away……but if you can’t create jobs the money will just disappear.

Why don’t they concentrate on jobs so the American people can go back to work? People are not buying any cars, houses, TV’s, or anything else because they are not making any money. Hence people need jobs….you know all the ones that went with all the big corporations overseas!

Just how many auto makers moved some of there operations over seas and plus the fact that 99 percent of there suppliers are over seas. All because they got tax breaks and cheep labor.

And now GM wants help! But is GM, Ford and all the other manufacturing companies at fault? I don’t think so……the government has let us down by letting this happen in the first place. So yes the government should help these companies out but with one condition……..they must change the tax laws so these companies bring there plants back home to the USA where people are proud to build things…….jobs where people in the USA get paid and that’s the only thing that will get America on track again to lead the world in innovation, peace and prosperity. It seems simple to me............... people working and people spending what’s so hard to understand!

Getting the unemployment rate right is next to impossible. Now days millions of people are working 20 hour weeks trying to support themselves and or family. You have to take this in consideration when ever the government starts talking about unemployment because people that are working part time are basically struggling to make it …….but working some is better than nothing and these hard word working people try to do what they can.

I think the biggest misconception with unemployment figures are the fact that no one considers just how large the working force is for those people who are self employed.

All your so called Joe the plumber and Joe six packs that work for themselves to have a small piece of the American dream to be their own boss just to make it happen are not able to draw unemployment when there is no work to be done.

The millions of 1-3 man operations the provide services from gutting grass to Joe the plumber that are out of work can not draw unemployment!

Unemployment goes much deeper than what the numbers really tell.

Recession is the word most used these days to describe our economic situation and they say the worst is not over. Well going into a major election and winter just around the corner this could be some very tough times for a lot of people.

People are losing jobs and homes left and right and the only thing the bail out is doing is giving all the banks money to lend……..with no one to lend to!

 
How does the government figure that businesses and the general public as a whole have the money to borrow any money? Most businesses are laying off people and most people are just making enough money to get by.

The best thing that can happen is for the price of oil to keep dropping so the cost of living will drop. But this is not the only thing that has to happen. We need JOBS. The jobs that all the greedy businesses have shipped over seas to get the tax breaks plus get cheep labor.

America has stopped making things and now after 20-30 years it has caught up with it self after a lot of people have made them selves rich in the process……oh and now they are crying flow and the government is buying them out at our cost.

Jobs and only working Americans will make this economy turn around.

I just paid $2.67 per gallon for gas today. Not bad considering 6 weeks ago I paid $4.11 per gallon. I find it funny that anyone would buy anything but regular unleaded or Diesel.

I have not seen anyone purchase premium gas in years. It seems like a waste of time and money. I know there are a few cars that run on premium but they are so rare that I would think the industry would just find a way to phase it out and just go with one kind of fuel.

It sure seems to me that the two other type of gas really is just a waste of time and money. It those types of gas were no longer needed there would be big savings to a lot of people.

I heard today on CNN that OPEC was going to meet soon and they were going to consider lowering the production of oil. That’s ok to lower the production but only as long as it does not affect the cost a barrel of oil. If the barrel price climbs up the gas is going up. If they have more than they need then they should just sit on it and let the price of oil drop so the economy will start moving again.

Gas at $3.15 a gallon today and still falling. Experts think gas may fall as the hurricane season come to a close next month. The oil refineries did not get hit as bad was once thought after hurricane Ike. People are conserving and people are going to continue to conserve.

The demand for oil is dropping as people are forced to drive less just as an economical savings due to many factors. With the unemployment at an all time high I am sure those people unemployed are real careful about the driving they are doing.

I know my self I have tried to leave the house less and if I have places to go I just try to do it all in one day and try to plan a direct route.

Maybe we will see $2.50 a gallon soon.

Bail out passed by senate.  Hopefully money will start moving. This has been one heck of a ride. I don’t think that most Americans realized just how important it was to get this package approved.

I am just not sure if it is going to be enough. It the buy out is done and in the next 6 months they find out that there are more banks in trouble than they knew of, it could be real problem. Let’s hope this will push the system hard enough to keep thing running smoothly.

There are a lot of things that will have to happen. Lending practices will have to loosen up some. The DPA (down payment assistance) programs will need to be reactivated. The bill to reinstate the DPA program has been overlooked due to the bail out bill.

But the real question will be what all is included in the bail out program and just what will the long term effects be.

What ever is included the whole measure will be just how much consumer confidence it will get out of the whole process. People need to just work harder and smarter to push through these times. Buy what your can afford only….no wasteful spending.

On thing is for sure this could be one of the best times in history to purchase real estate and possibly a lot of cheep stocks.

AIG bail out is a big gamble and is it really going to help our economy?

Maybe they should re think the whole thing and just take the money they are going to spend and give it back directly to the American people.

 If they gave every adult citizen in the 500k that would solve the whole economical problem we are in right now. All the money would just go right back into the economy and get people buying homes and everything else.

They want to bail out AIG but not the American people. It’s all about big business not the people. The government gave everyone a 300-600 check this year in hopes of saving the economical problem the country is in. What a joke that was.

If they gave the American people had some real money you would not have the housing crisis that we are in.

The housing crisis is the real problem. If Americans were given enough money to pay their homes off up to 500k and any remaining dept as a must requirement. Then just think…….. those who did not have any dept could spend it as they please and those who paid their bills would have more money to spend as well.

Then Wall Street would not have to worry about anymore foreclosures and people would be spending money on buying homes and cars and everything else thus giving all businesses world wide a shot in the arm. More cars being sold and more homes being sold would correct the whole market. Wallstreet would make more money than ever if the American people got bailed out and not all the big companies. The big company’s have sold out and ripped off the American people for long enough and for nothing but greed.

Just how much money does any one person need to have a good life. These company’s and the people running them should be held accountable. Not all companies are this way but it is pretty obvious to figure out the one that are.

I say let AIG go out of business and help the American people!

The key to the whole restructure is the credit markets. There has to be tighter regulations on the lending practices. People can only buy on the right income ratios. But the banking industry cannot over tighten.

There is still hope that the DPA/down payment assistance program may have a chance of surviving the bill that Bush signed to eliminate the program. 40 percent of the FHA loans are done with such programs as the Ameridream or Nehemiah program to help home buyers buy homes. But bush signed into law a stop these programs Oct 1^st 2008.

There is still a chance that the program could stay in effect. The same day Bush signed a bill that would give until Sept 30^th 2008 to reauthorize the DPA program.

The real problem with losing this type of financing would be the effect on those credible people who would be buying homes. At 40% of FHA loans that would be approximately 40,000 plus qualified home buyers that will not be buying a home.

Right now that is just not a solution to our economy by any means. People can still contact there senators to make sure this bill does not get passed.

Indianapolis Real Estate has to be booming have you seen the new Real Estate the Colts Play house Lucas Oil Stadium. Wow what an unbelievable place. Football in full swing, Baseball playoffs and basketball around the corner this is the best time of year to be looking for a home. Fall weather is great here in Indiana and people are still enjoying great mortgage rates and plenty of homes to choose from.

 
Sales are holding steady and there could be a slight increase over last September’s sales.

Considering the government buyer out everyone, hurricanes, elections, war, and the price of oil you would think things would be almost at a stop. I went to the mall a few days ago for the first time this year and it was packed. People are still spending which a good sign. Hopefully people will continue to have confidence through these times!