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Monthly Market Report

by Jim Sprague on January 24, 2012

From now on, each and every month, I will post a Monthly Market Report for Bloomington and Monroe County in Indiana Residential Real Estate. The goal of this endeavor is to examine and keep track of the progress of residential sales and listing activity in the county. We will determine if it is a “Buyer’s” or “Seller’s” market based on the amount of time it will take for the current inventory to sell based on the last 12 months activity.

A brief background: In my listing presentation I have two pages devoted to the general market activity concerning residential activity. It is broken down in price range and it’s purpose is simply to show the amount of inventory there is in each given price range. In the Listing Presentation single family homes and condo are all lumped together, but here they will be separated, as they are actually different markets.

Generally I have noticed a significant increase in market activity over the last 6 months. It’s not unfair to say that the market is coming back! Though Monroe County enjoys one of the best real estate markets in the state of Indiana, due to the solidity of our main employers, namly Indiana University, Cook and the Crane Naval Base, we have seen a dip in activity over the last few years. The belweather we’ll be using here has to do with the amount of inventory we have in terms of “months of supply”. That is, again, based on the last 12 months of sales in a certain price range, how many months will it take to clear the current number of listings in that price range?

It is generally accepted that a 4 month supply is an even market. 6 months suppy can be considered a “Buyer’s Market” and 3 months or less supply can be seen as a “Seller’s Market”. Over the last two years most ranges have indicated a Buyer’s Market, but that is, according to the most recent study, changing rapidly in Monroe County. Hopefully that will continue and become the trend for 2012!

Please click on the file names to see the PDF. Enjoy!

Here is the data and graph for single family home market in Monroe County as og 1/24/12

MarketSupplyPresentation.Res.1.24.12

MarketSupplyMonths1.23.12

Here is the same for Bloomington/Monroe County condominiums:

MarketSupplyMonthsCondo1.23.12

MarketSupplyPresentation.Condo.1.24.12

Any questions? Call me at 812-340-0132 or write me at jimsprague@comcast.net,

Thanks,

Jim Sprague

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Renwick Delivers Traditional Neighborhood Charm

by developer on December 9, 2011

Bloomington has a great community that is being built out called Renwick. Designed to incorporate the principles of Traditional Neighborhood Design (TND), Renwick is all about creating a walkable, safe, and beautiful neighborhood. Homes are designed to foster connections with neighbors and carry a design aesthetics that promotes a strong sense of place.

As a community, Renwick is about 80 acres in size and is made up of different residential home area connected by walking paths and green spaces. A lovely wooded ravine and the west branch of Jackson Creek traverses the community. Cathcart Park, which covers 3.5-acres within the heart of the community, is a relaxing spot to stroll, bike, jog, picnic, or just relax. There are also several smaller pocket parks in the community.

There are different options for homes. Two areas of paired villas are in the development, Cameron Row and Springhouse Ridge. These areas feature high-quality construction, gorgeous interior finishes, award-winning architecture and a low-maintenance lifestyle.

The remaining areas are designed for you to purchase your lot and then work with one of the preferred buildings to construct your perfect home. Cathcart Knoll has single-family lots that are 55-feet wide, Hawksmoore has lots that are 75-feet wide, and Nora Hill has lots up to 95-feet wide. The community is designed to incorporate a strong design aesthetic, so specific design criteria will have to be met as your plan your home. However, the preferred designers and builders understand this and will work with you to create the perfect home that will still pass through the communities architectural review process.

The community also features a Village Center, which can be easily accessed by pedestrian, cyclists and motorist from anywhere in the neighborhood. It is designed to be an informal gathering space where you will run into neighbors, enjoy a cup of coffee and relax. The Village Center will feature personal and business services such as restaurants, dry cleaners, a medical office, a bank, and other day-to-day services that you would love to have within walking distance from your home.

With interest rates at an all time low, this is a great time to buy. If you are interested in a residential development that combines traditional neighborhood charm, with tree-lined streets and thoughtful public green space, please give me a call. I specialize in matching my clients with the perfect Bloomington, including first time and seasoned buyers. Don’t’ forget to sign up for my HOT LIST of properties to stay up to date on new and resale properties.

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Parent Investors Picking Up Good Deals in College Towns

by developer on December 2, 2011

As housing prices continue to drop, and college prices continue to rise, some parents of college students are deciding to buy a house for their child to live in, instead of writings checks to a university for on-campus housing or to another landlord. Compared to cramped campus housing, living in a single-family home, town home or condominium can provide extra space and make great financial sense.

Bloomington has a thriving university community that draw students from across the state and across the country. This is one community where it can make a lot of sense for parents to buy. College towns have a built-in pool of rental candidates and housing prices are at an all-time low. Currently, in Bloomington, there are several condos and homes that would be great for the parent investor.

For example, over on North Lincoln there are several older condo communities that are favored by college students. They are close to campus and near a bus stop. Right now, there are units with two bedrooms and two baths at incredible prices. The prices are so low, they makes for a very reasonable monthly mortgage. Also, with a second bedroom, an additional tenant can be taken on, to further decrease the mortgage burden.

South of campus, in the more traditional neighborhoods, but still close enough to walk to campus, there are plenty of three- and four-bedrooms homes available, each with multiple baths. These homes have a great rental history and often provide large yards, which provide ample space for outdoor studying, summer get together and more.

The question often arises on what to do with the property after their child graduates and moves on. Some choose to hold onto the property and continue to rent it out to other students, employing a local property manager if they are not in the area. Other parents have decided to downsize into the condo after their kids graduate. After all, college towns can be very lively and interesting, often bringing in interesting arts and culture events, and also typically having lively downtowns.

With interest rates at an all time low, this is a great time to buy. If you are interested in a purchasing a home for your college student to stay in, or looking to purchase investment property, I can help. I specialize in matching buyers with the right property. Don’t’ forget to sign up for my HOT LIST of properties to stay up to date on new and resale properties.

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Bloomington Gets Ready to Ring in the Holidays

by developer on November 25, 2011

In addition to having a great university, Bloomington is also very family friendly. The holiday season is especially full of fun thing that the family will enjoy. Be sure to put a few of these events on your calendar to get in the festive spirit.

Bloomington Chamber Singers – Prepare to be amazed by the wonderful voices of the Bloomington Chamber Singers as they sing a variety of Christmas-themed songs. With seventy singers, an organist and a saxophonist, it will be an amazing performance. Get tickets now for the December 2^nd performance. Show takes place at First United Methodist Church on East Fourth Street.

The Nutcracker – Indiana University Ballet Theater will be performing the holiday favorite, The Nutcracker. The show features the wonderful music of Tchaikovsky, beautiful costumes, delightful sets and great dancing. This ballet show is perfect for the whole family and is a great way to ring in the season. The show runs one weekend only, December 2 through 4, with matinee performances available.

Chimes of Christmas – The Chimes of Christmas is Indiana University’s annual holiday program. This tradition has been going on for well over 50 years and is a delightful and uplifting way to celebrate the season. Performers include the Trombone Coir and the fabulous Singing Hoosiers, whose performance covers classical carols, to musical medleys to international songs. This event is family-friendly and discounts are available for children. This performance is one night only, December 7^th.

Meet a Reindeer – WonderLab, the awesome museum of science, health and technology will have a real reindeer and other Arctic creatures at the Silly Safaris Reindeer Reserve. What a great opportunity to learn and have fun. This fun event takes has two shows on December 17^th and one available on December 22. Tickets are first come, first serve, the day of the event.

Photos with Santa – Head on over to Fountain Square Mall and get a professional photo taken with Santa for just $5. A portion of each photo sale will go to charity. Santa will be available for photos every weekends starting November 26^th.

If a new home is on your holiday wish list, now is a great time to buy. With interest rates at an all time low, it’s a great time to be a buyer. If you are looking to buy, give me a call, I would be happy to help. I specialize in matching my clients with the perfect Bloomington home, including properties in Elm Heights and Sherwood Oaks . Don’t’ forget to sign up for my HOT LIST of properties to stay up to date on new and resale properties.

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Stonechase Makes it Easy to be Green

by garmosilla on November 18, 2011

Stonechase is a new single-family residential development from Beazer Homes that is dedicated to providing 100% ENERGY STAR homes. The well-designed homes at Stonechase make it easy to reduce energy costs and live in a great neighborhood in a new home.

Stonechase is located close to Indiana University as well as dining, theatres and the College Mall. Recreational amenities are available at nearby Lake Monroe and the beautiful tree-lined streets make walking and biking in the area enjoyable. The community includes 68 acres of community green space as well as abundant wildflower beds, wooded areas and three community ponds. It’s lovely and idyllic living at Stonechase and I am excited to tell you more about these homes.

The homes at Stonechase have a great layout which provides a nice mix of shared spaces as well as private spaces. The kitchens with adjacent breakfast nook and great room are sure to be the hub of your home. They also provide a great space for casual entertainment with friends and family. A separate dining area with optional butler’s pantry is great for more formal entertaining.

Three bedroom homes are available in one- and two-story styles with 2 or 2.5 baths. Sizes range from approximately 1,949 square feet to over 2,300 square feet. They include a two car-garage with easy access to the house. Four bedroom models are two-story and feature 2.5 baths, a two-car garage, as well as a separate loft space which would be a great home office or kids play area.

The homes at Stonechase are part of Beazer’s eSMART home line. The ENERGY STAR status of these homes means you can enjoy a very energy efficient home, with energy use reductions of up to 27%. The homes feature low-e windows, increased wall and attic installation, special air filters and more. This means lower energy bills and more money for the fun stuff. The homes are also incorporate water efficiency measures. Homes start around $172,000, depending on the size and treatments.

With interest rates at an all time low, this is a great time to buy. If you are interested in a residential development that blends a great location, with green design and great style, please give me a call. Stonechase has move-in ready homes available now. I specialize in matching my clients with the perfect Bloomington home, including first time and seasoned buyers. Don’t’ forget to sign up for my HOT LIST of properties to stay up to date on new and resale properties.

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Fall and Winter Are Upon Us! Bloomington Events!

by Jim Sprague on October 31, 2011

Time sure flies. We cannot believe it is Halloween time and that the holidays are almost here! There is so much to do in Bloomington as far as cultural events go. So, we decided to highlight some of them for the upcoming month of November. We love our football games and know that there are all kinds of things going on in the area for adults and kids of all ages. Find your Bloomington Real Estate today!

November 6^th- Mathers Museum of World Cultures/Glenn Black Laboratory of Archaeology—It’s Scout Day! All Scouts are encouraged to come and enjoy all of the hands on activities and crafts. The best part? It’s FREE!

Through November 30^th— Atrium of City Hall—– We Paint… Parks! The City of Bloomington Parks and Recreation Department, the Bloomington Entertainment and Arts District (BEAD) and the Bloomington Watercolor Society have partnered on a unique new community project. The cooperative project culminates with the annual Bloomington Watercolor Society Membership Show, which will be held in November 2011 in the atrium of City Hall. The top three paintings will be featured in a 2012 Bloomington Parks and Recreation program guide. The paintings will be available for purchase, with a portion of the proceeds to benefit the Bloomington Parks and Recreation Department. Admission is FREE!

Through November 28^th—Holiday Inn—Inside IU Football with Kevin Wilson. Join up every Monday at the Holiday Inn for Inside Indiana Football with Kevin Wilson. Broadcast live at 7 pm and hosted by the Voice of the Hoosiers, Don Fisher. Meet Coach Wilson, enjoy food and beverage specials and become part of a great Indiana tradition! Again, admission is free! Don’t you love this??

November 20^th- Indiana University Auditorium— Grammy Award-winning artist Paul Simon will perform at IU Auditorium on November 20 at 7:30 p.m. with an opening act by Punch Brothers. The set list will draw from Simon’s iconic career, including songs that haven’t been performed live in many years. Also included will be tracks from his newly recorded and critically acclaimed album, So Beautiful or So What (Hear Music/Concord Music Group, released in April), his first new album in five years.

December 16-January 1^st- Celebrate the holidays with Annie!- Ivy Tech John Waldron Arts Center. The Depression-era comic strip about a little orphan’s rags-to-riches transformation is one of the most beloved of American musicals. And why not? The music is terrific, the lyrics are smart and funny, and there’s even a scene-stealing dog.

There is SO much going on in Bloomington this season! This is only a tiny portion of it. Find your Bloomington homes for sale and live in this amazing city.

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