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 Real Estate Blog 
Thursday, January 19 2012

Financial experts insist that they don’t have a crystal ball, but they still have to predict the future anyway. That’s why they watch a number of different economic indicators to determine the direction they expect different segments of the economy to head. For the owners of Southwest Indiana rental homes and their tenants, one of the most important segments is the one dealing with rents – will they continue to rise in 2012? If, as many experts predict, rents do continue on an upward path, it will mark the third straight year that they have done so. Evansville area landlords needn’t ignore the trend.
While the year is still too young to have established many economic indicators, here are some to watch for to help you make your own prediction regarding rent price trends that may affect your own decision-making:
  • A quiet market in home purchasing. Americans remain anxious about the overall economy and have thus far refused to signal a clear end to the doldrums in home sales. Many Americans tend to remain in rental homes as they await clearer signals of a more robust economic recovery.
  • Continuing high foreclosure rates have the effect of forcing homeowners out of their homes and into the rental home market. This decreases vacancy rates, raises demand -- and therefore, rents.
  • Job growth fuels housing demand. As the population increases, at least some job growth is required to meet the resulting demand for goods and services – especially if growth in the supply of rental homes lags or remains flat.
To slightly balance those indicators, other signs could hint at a possible future stall in rental rates:
  • Rental unit construction starts were up 33.3% in the third quarter of 2011. Although such projects take time to reach completion, when they hit the market they will add to the supply of available rental homes -- and that absorbs some of the demand. 
  • Low mortgage rates make it more financially feasible to own rather than to rent. When rents have been rising for as long as they have, there is a growing likelihood that home sales will eventual rebound. When? That’s where the crystal ball would come in handy!

The big question is, if rental home rates do continue to rise in 2012, how much can owners and renters expect? While the majority of analysts agree that residential rents should continue to rise, they vary when asked how much – from 2.5% to 5.5%, depending on which one you ask.
 Please let us know if you are interested to receive emails with listings that are suitable for the rental market. We are working with many investors who take advantage of this and in case you do not want to be personally involved with the leasing process we can assist you with that as well. You can reach me by phone at 812-499-9234 or by email at
Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  0 Comments  |  Email
Thursday, July 22 2010

A Canadian auto supplier is expanding in Gibson County. Windsor Machine Group plans to hire 50 employees at its Princeton plant to help fill orders for Ford Motor Co. (NYSE: F). The company currently employs 32 at the Gibson County operation, which produces headrests for Toyota Motor Manufacturing Indiana Inc.

Windsor Machine Croup, makers of automotive headrests, seating components, exhaust suspension systems, modular assemblies, rubber and plastic products and structural brackets and braces; headquartered in Windsor, Ontario is expanding it's Princeton, Indiana plant in Gibson County and will hire 50 new employees.

"With the help of the Gibson County Economic Development Corporation, Economic Development Coalition of Southwest Indiana, Indiana Office of Community and Rural Affairs, and the Gibson County Commissioners we were able to secure a $500,000 Disaster Recovery Grant through a Community Development Block Grant program to purchase a Konal Polyurethane Foaming Assembly Line Machine which will allow us to fill orders for Ford Motor Company in both Kansas City, Missouri and Louisville, Kentucky said Windsor CFO Dave Zultek.

B. Todd Mosby, President and CEO of the Gibson County Economic Development Corporation stated the news will be welcomed by residents in the tri-state. He said, "The Gibson County Commissioners will be the actual owners of the property for the first 5-years as Windsor works to complete criteria set forth in the grant. Once the criteria is met, Windsor will take 100% possession of the machine."

Windsor Machine Group currently employs 32 people in their Princeton plant where they produce headrests products for Toyota Motor Manufacturing, Indiana.

The Gibson County Economic Development Corporation is a 501 c(3) not-for-profit corporation located at 202 E. Broadway Street in Princeton. The Gibson County Economic Development Corporation was formed in 2006 with a mission to coordinate, assist, and advise Gibson County in economic development activities.

Source: Gibson County Economic Development Corporation & Inside INdiana Business

Posted by: Rolando Trentini AT 05:45 pm   |  Permalink   |  Email
Friday, April 09 2010

The Evansville Area Association of Realtors reports a 28.4 percent increase in area home sales this March over last March.

The housing market in the Tri-State appears to have rebounded and continues on the upswing.

The fact that the first-quarter sales of this year have outpaced last year confirms that to be the case, said Chris Dickson, president-elect of the Evansville Area Association of Realtors.

"2010 is a good year for real estate in this area," he said.

Dickson said the latest statistics from the association shows a 28.4 percent increase in the number of single-family homes sold in Vanderburgh, Warrick, Posey and Gibson counties this past March compared with the number of sales in March 2009.

Pending home sales also appear on an upward surge nationally, likely in response to the homebuyer tax credit, said the National Association of Realtors.

Its March index won't be released until May 4, but the national association reports sales showed a healthy gain in February.

According to the Evansville Area Association of Realtors, a total of 307 homes were sold in Vanderburgh, Warrick, Posey and Gibson counties last month, compared with 239 sold in March 2009.

The increased activity caps off a strong first quarter, which saw the number of homes sold increase by 11.4 percent over last year's first quarter.

A total of 650 homes were sold in the four-county area this January through March, compared with 582 sold last year during the same period.

Dickson attributed the increase to historic low interest rates and plenty of mortgage money available from local lenders, even though the requirements for approval are tighter.

He said, "Buyers also are very active now because they need to be under contract by April 30 to qualify for the federal tax incentives. ... There are more buyers, looking to take advantage of the incentives.

"Homes are receiving multiple offers. Sellers need to be on the market now."

The only thing holding the market back from more expansion is the low number of homes on the market today, Dickson said.

"Now is the time for sellers to get back into the market."

The area association of Realtors also reports the average sale price increased 9.7 percent for the quarter, rising to $127,149 from $115,845 last year.

The increase in number of sales and increase in average prices combined to generate a 22.5 percent increase in overall volume and contribution to the economy. More than $82.6 million homes were sold in the first three months of this year, compared with $67.4 million during the first three months of last year.

Dickson said, "Topping off the good news is the fact that it takes two to three weeks less time to sell a home this year compared with last year.

The average time to sell a home now is approximately 141/2 weeks compared with almost 17 weeks a year ago.


Posted by: Rolando Trentini AT 09:06 am   |  Permalink   |  0 Comments  |  Email
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