Looking for a Beautiful Wooded Home Site in Southwest Fort Wayne?

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Azbury Woods III with one of a kind wooded lots up to and acre in size are under construction now! Azbury Woods is located on Lower Huntington Road, just one mile away from Southwest Allen County School’s newest elementary school, Lafayette Meadows and minutes from The Village of Coventry and Lutheran Hospital. Enjoy all of the quiet and privacy Azbury Woods offers while being only 3 quick miles south on I-69 of the bustling Village of Coventry Exit 102!

 

Homes in Azbury Woods range from $250,000 and up, and the planned pool and pool house will be a fabulous addition to this prestigious community. 

 

The beautiful home sites currently under construction are perfect for the nature lover. With half acres lots overlooking a gorgeous wooded ravine or acre lots with your own private woods, these one of a kind locations are perfect for your dream home.  

 

See all of the details or search all Fort Wayne Homes for Sale at northeasterngroup.com or contact Kim Ward at 260-437-9844.

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Amazing Buescher Home in Hawthorne Park Estates

Buescher hpe

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.  

Hawthorne Park Estates gets finishing touches!

hpe rip rap

The beautiful weather we have been experiencing in Fort Wayne has allowed us to begin the finishing touches on our newest project, Hawthorne Park Estates. Hawthorne Park Estates is located within walking distance to the new Parkview Regional Medical Center on Dupont Road in Fort Wayne.

Contractors have begun installing the rip rap around the four enormous ponds.  The ponds are fed by wells that replenish the water supply at a rate of 80 gallons per minute! This will ensure that the ponds stay full during the hottest summer days and the fact that this ground is at the top of the watershed helps ensure that the ponds will be clear and beautiful, free from regular amounts of run off.

In addition, the entrance signs are currently under construction. Gorgeous mountain top boulders have been painstakingly selected to carry the HAWTHORNE PARK ESTATES logo.

At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions including new contruction opportunities. 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.  

Home Builder Stocks Surge

Daily Real Estate News | Monday, March 12, 2012

A growing number of reports are revealing higher interest from buyers in real estate, prompting an analyst with Credit Suisse to upgrade five homebuilder stocks, sending several builder stocks soaring Friday.

Three stocks — DR Horton Inc., Lennar Corp., and Toll Brothers Inc. — were upgraded to “outperform” from “neutral.” Builder stocks Meritage Corp. and Ryland Group Inc. were also raised from “underperform” to “neutral.” 

Analyst Daniel Oppenheim, who upgraded his ratings, says he expects homebuilder stocks to rise 18 percent this year and 19 percent in 2013. 

Oppenheim says recent surveys of real estate agents have revealed that buyer traffic is strong. In fact, he says one recent buyer index survey reached its highest point since 2005, the year the survey began and also during the housing boom.  

“Should the stronger traffic trends continue, we should see potential for a further upside to volume,” Oppenheim said about the homebuilder stocks.

Source: “Builders Rally on Improved Real Estate Outlook,” The Associated Press (March 9, 2012)

North Eastern Group Realty agents are experts are new contruction and 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.  

When Will the Housing Supply Normalize?

Daily Real Estate News | Monday, March 05, 2012

The housing supply is expected to normalize in two to four years, Barclays Capital projects, assuming that household formation rates increase to 1.1 million and construction remains slightly above 2011 levels.

Household formation–which is a reflection of population growth and housing affordability–has drastically dropped since 2007, reaching about 300,000 to 500,000 per year. Historically, the rate is about 1.25 million.  

Home prices will likely see a 1 percent appreciation this year (that’s after falling 3 to 4 percent through March), Barclays Capital estimates. It is also projecting a 1 percent price appreciation in 2013, followed by 2 percent to 3 percent appreciation levels. 

But to reach those goals, the housing supply needs to continue to shrink first. 

“We think this will be achievable only if household formation exceeds net construction for a sustained period,” Barclays says. 

Source: “Barclays: Housing Supply Could Normalize in 2014,” HousingWire (March 2, 2012)

The REALTORS at North Eastern Group Realty, 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.  

New-Home Inventory Shrinks to Record Lows

Daily Real Estate News | Monday, February 27, 2012

Inventory of new homes on the market shrank to its lowest point on record in January, marking a 5.6-month supply at the current sales pace, the Commerce Department reports. 

With fewer homes available, the price of new homes increased slightly last month. The median price for a new home ticked up slightly at 0.3 percent to $217,100, which is the highest level since October.

However, January sales of single-family homes mostly stayed flat in January, falling less than 1 percent last month compared to the previous month. New-home sales reached a seasonally adjusted annual pace of 321,000 units. 

New-home sales were up 3.5 percent compared to the same time last year, the Commerce Department reported. 

“This is indicative of the incremental, steady progress that the market is making toward recovery in conjunction with modest economic and job growth,” said David Crowe, the National Association of Home Builders’ chief economist. “Increasingly, potential buyers are feeling better about their financial situation and their ability to buy a home, but the challenges posed by tight credit conditions and appraisal issues continue to slow that process.”

Regionally, the Midwest saw the biggest decline in new home sales in January, a 24.5 percent drop in sales followed by a 10.6 percent drop in sales in the West. On the other hand, the Northeast posted an 11.1 percent gain in new home sales in January, and the South saw a 9.3 percent increase.

Source: National Association of Home Builders 

Beautiful homes under construction in Hawthorne Park Estates

Imperial Homes Spec home under construction in Hawthorne Park Estates

Imperial Homes Spec home under construction in Hawthorne Park Estates

The North Eastern Group is excited about our newest project, Hawthorne Park Estates. This project is perfectly located within minutes of Parkview North Hospital in popular Perry Township. The upper end market is still strong and options for home sites were limited until this project opened in December, 2011. 

This project was designed so that almost every lot has a water view. With 5 lakes and acres and acres of water surface, Hawthorne Park Estates is a one of a kind community. There are several pre-sold homes under construction and a great two story on a full basement spec home by Imperial Homes. (Picture above)

Dont miss your opportunity to build your dream home in this fabulous community.

If you need a Fort Wayne Realtor to assist with your Fort Wayne home site selection and builder interview process, the professionals at North Eastern Group Realty can help!

2011 Fort Wayne Building Permit Activity shows steady market

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After a falling over 66% from 2003 to 2008, building permits show signs of stabilization again in 2011. Permits have remained fairly steady for the last 3 years, coming in at 679 in 2009, 662 in 2010 and 680 in 2011. Inventoryof homes for sale has fallen steadily since 2007 and available new construction homes for sale has fallen even more rapidly due to the low permit numbers just reported. This will position builders well as the market improves. Most experts expect new home sales to be on the rise.

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.  

Housing Predictions

After several years of struggling though a significant building downturn, positive signs are finally being seen in the housing market. Certainly, the Fort Wayne housing market is showing signs of improvement. Most notably, activity in North Eastern Group’s newest development, Hawthorne Park Estates has been very robust. For the full details on the national market, see the entire article here:

http://online.wsj.com/article/SB10001424052970204296804577124991922170830.html?

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 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.

October Existing-Home Sales Rise

Daily Real Estate News | Monday, November 21, 2011

Existing-home sales improved in October while the number of homes on the market continued to decline, according to the National Association of REALTORS®.

Total existing-home sales — completed transactions that include single-family, townhomes, condominiums and co-ops — rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010.

Room for Improvement

Lawrence Yun, NAR chief economist, said the market has been fairly steady but at a lower than desired level. “Home sales have been stuck in a narrow range despite several improving factors that generally lead to higher home sales such as job creation, rising rents, and high affordability conditions. Many people who are attempting to buy homes are thwarted in the process,” he explained.

“A higher rate of contract failures has held back a sales recovery. Contract failures reported by NAR members jumped to 33 percent in October from 18 percent in September, and were only 8 percent a year ago, so we should be seeing stronger sales,” Yun added.

Contract failures are cancellations caused by declined mortgage applications, failures in loan underwriting from appraised values coming in below the negotiated price, or other problems including home inspections and employment losses. “Other recent factors include disruption in the National Flood Insurance Program, and lower loan limits for conventional mortgages, which paradoxically force some of the most creditworthy consumers to pay unnecessarily higher interest rates,” Yun said.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.07 percent in October from 4.11 percent in September; the rate was 4.23 percent in October 2010.

NAR President Moe Veissi said consumers can increase their odds of obtaining a mortgage by being aware of how credit scores are determined. “If you want to get a mortgage, don’t buy a car or take on new installment debt or credit cards,” he said. “Pay all your bills on time, maintain old credit lines, and don’t use more than 30 percent of your credit limit. REALTORS® can help you understand the issues surrounding access to affordable credit, in addition to helping you find the right home and negotiate terms.”

A Mixed Bag

An ongoing positive trend is a steady decline in the number of homes on the market. Total housing inventory at the end of October fell 2.2 percent to 3.33 million existing homes available for sale, which represents an 8.0-month supply at the current sales pace, down from an 8.3-month supply in September. Inventories have been trending gradually down since setting a record of 4.58 million in July 2008.

The national median existing-home price for all housing types was $162,500 in October, which is 4.7 percent below October 2010. Distressed homes — foreclosures and short sales typically sold at deep discounts — slipped to 28 percent of sales in October from 30 percent in September (17 percent were foreclosures and 11 percent were short sales); they were 34 percent in October 2010.

“In some areas we’re hearing about shortages of foreclosure inventory in the lower price ranges with multiple bidding on the more desirable properties,” Yun said. “REALTORS® in such areas are calling for a faster process of getting foreclosure inventory into the market because they have ready buyers. In addition, extending credit to responsible investors would help to absorb inventory at an even faster pace, which would go a long way toward restoring market balance.”

All-cash sales accounted for 29 percent of purchases in October, little changed from 30 percent in September and 29 percent in October 2010; investors make up the bulk of cash transactions.

Investors purchased 18 percent of homes in October, compared with 19 percent in September and 19 percent in October 2010. First-time buyers accounted for 34 percent of transactions in October, up from 32 percent in September; they were 32 percent in October 2010.

Single-family home sales increased 1.6 percent to a seasonally adjusted annual rate of 4.38 million in October from 4.31 million in September, and are 13.8 percent higher than the 3.85 million-unit pace one year ago. The median existing single-family home price was $161,600 in October, which is 5.8 percent below October 2010.

Regional Performance

Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 590,000 in October but are 10.5 percent above the 534,000-unit level in October 2010. The median existing condo price was $160,300 inOctober, down 1.5 percent from a year ago.

Regionally, existing-home sales in the Northeast fell 5.1 percent to an annual level of 750,000 in October but are 1.4 percent above October 2010. The median price in the Northeast was $224,400, down 5.5 percent from a year ago.

Existing-home sales in the Midwest rose 2.8 percent in October to a pace of 1.10 million and are 19.6 percent higher than October 2010. The median price in the Midwest was $132,800, which is 4.7 percent below a year ago.

In the South, existing-home sales increased 2.1 percent to an annual level of 1.94 million in October and are 14.1 percent above a year ago. The median price in the South was $145,700, down 1.6 percent from October 2010.

Existing-home sales in the West rose 4.4 percent to an annual pace of 1.19 million in October and are 15.5 percent higher than October 2010. The median price in the West was $207,500, which is 1.6 percent below a year ago.

Source: NAR