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Renting Up in Indianapolis despite Low-Priced Foreclosure Listings
by Clark Raitz on Jan 13, 2011
The apartment property market of Indianapolis, Indiana, posted strong numbers in 2010 as more people preferred to rent rather than purchase homes despite the presence of thousands of low-priced residences under foreclosure listings . Apartment occupancy in the area was up by 1.7%, with occupancy rate pegged at 90.8%.
According to Real Estate analysts, although Indianapolis HUD houses and bank foreclosed residences are being offered at affordable prices, more people opted to rent. They stated that the end of the federal government's tax credit program and tighter rules in mortgage borrowing have contributed to lowering the number of people willing to put their money on home purchases. Most analysts expect the apartment property industry to continue to thrive in 2011, particularly if more jobs are created in the metro area during the year.
Although foreclosure listings dominated the housing market in 2011, apartments held their own in the region, with the...Read More >>
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Do free foreclosure listings reflect the Actual Figure of Foreclosed Properties?
by hudsonraffit
Report shows that foreclosure sales plunged in the third quarter of this year. The fall in the sales of foreclosed properties and other homes that are in the process of foreclosure are actually in line with the overall decline in the housing market, which occurred after the expiration of the federal homebuyer tax credits in April.
Some experts claim that the reason behind the significant drop in foreclosure sales is not actually the issue over foreclosure processing errors that encouraged some lenders to momentarily stop the sales of homes owned by banks, including foreclosed...
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