The Herald Bulletin

Evening Update

Local News

July 16, 2014

Inventory, prices down, sales up in monthly housing report

ANDERSON – Standing in his new backyard, Adam Souder said his first home is a big improvement over his former rental.

“We have more room than we know what to do with it,” he said.

Souder is one of many new homeowners in the area. Overall, Madison County saw a spike in home sales this month compared to last year, but the number of active listings and home prices were down.

A report released by F.C. Tucker shows seven of the nine counties monitored experienced higher home sale prices for the first six months of 2014, but Madison County was not one of them.

“Low-end properties are selling for cash,” said Sam Johnson, a broker with F.C. Tucker/O.C. Clark Realtors, 309 W 11th St., Anderson. “If you are buying a house for $30,000 that is worth $60,000, you are going to get data skewed that shows property values down.”

Johnson said when properties are selling for $20,000 and $30,000 cash it will drive the average home sales down. Inventory is also down because people have been waiting to sell their property in the hopes the values will return to what a home was worth in 2007.

But now is the time to sell and buy.

“If you sell your home for less, you are going to buy your next property for less,” Johnson said. “You can upgrade because you can buy more now for less money. That means you are going to get a new home, in a better area than what you have now. You are just trading properties and interest rates.”

Johnson said with interest rates at 4 percent, people are paying less in interest than what his parents paid in 1954.

“That’s an incredible interest rate,” he said.

A new homeowner can buy a brick home today for under $80,000 that would have sold for $100,000 in 2007, Johnson said. With a 4 percent interest rate, the average house payment for the home, with real estate taxes and insurance included, is between $500 and $520 a month.

Text Only
Local News
  • Accident.jpg Accident closes Indiana 9 north of Anderson

    Indiana 9 has been closed near County Road 500 north due to a traffic accident, according to initial police reports.

    July 23, 2014 1 Photo

  • NWS - HB0723 - 4-H fair - 018 Beef, dairy entries handle the heat

    For some 4-H'ers in the beef and dairy shows at the Madison County 4-H Fair, one cow can be a handful. Then there's Jeron Mason who was just one cow short of a literal handful.

    July 22, 2014 4 Photos

  • Travel restrictions on Interstate 69 this weekend During at least the next eight weekends, travel north of Anderson on Interstate 69 will be restricted as damaged concrete is repaired.

    July 22, 2014

  • Vaughan, Nancy Madison County grad rates and test scores improve, but still lag state High school graduation rates and standardized test scores in English, math and science all improved among public school students in Madison County from 2009 to 2013, according to a new report from the Annie E. Casey Foundation.

    July 22, 2014 3 Photos

  • NWS - HB0724 - 4-H Fair morning 2 Work starts at sunrise at 4-H Fair With the skies filled with lightning and the threat of rain on the horizon the Madison County 4-H Fairgrounds was mostly vacant at 6 a.m. Wednesday.

    July 23, 2014 2 Photos

  • NWS - HB0724 - Messersmith, Justin Man arrested at fair after witnesses say he battered his son A father was arrested at the Madison County 4-H Fair Tuesday night after witnesses said he went too far in disciplining his 4-year-old son.

    July 23, 2014 1 Photo

  • NWS - HB0715 - Chuck Pagano Pagano breakfast sold out A breakfast with Indianapolis Colts head coach Chuck Pagano is sold out, organizers said Wednesday.

    July 23, 2014 1 Photo

  • Ernie's Heart Pet Food Pantry collecting items The community is invited turn its "stuff" into pet food. Ernie's Heart Pet Food Pantry will be collecting "stuff" from downsizing, decluttering and redecorating on Saturday from noon to 4 p.m.

    July 23, 2014

  • SPT - HB0725 - Colts arrive - JC - 307a.jpg Wayne arrives in IndyCar for Colts Camp

    Ed Carpenter woke up to rain Wednesday morning and briefly worried his big opportunity might be lost. But the two-time Indianapolis 500 pole-sitter's fear proved to be unfounded. He delivered Indianapolis Colts wide receiver Reggie Wayne safely to Anderson University at the wheel of a two-seat IndyCar.

    July 23, 2014 2 Photos

  • Arrest Log: July 23

    Arrests made by Madison County law enforcement on Monday and Tuesday, based on Madison County Jail records.

    July 23, 2014

July Staff Photos


Buy and browse more photos from The Herald Bulletin

More Resources from The Herald Bulletin
Auto Industry Book
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Facebook