Existing home sales in Allen County increased 51.34 percent in November totaling 395 units sold, up from 261 units compared with November 2008.
The median sale price of existing homes in November increased 9.52 percent on a year-over-year basis. This continues an upward trend from October 2009, which also showed an increase of 18.37 percent in Allen County over last year with 406 units – up from 343 in October 2008. The median sale price rose 11.11 percent in October compared with the same time last year.
Prior to the president extending and expanding the tax credit, homebuyers were working with Realtors to close their transactions by the Nov. 30th deadline, which contributed to the huge surge in home sales in the last couple of months, Bob Coffee, Fort Wayne Area MLS President, said in a news release Thursday. The tax credit has really stimulated the housing market, which is good news for buyers, sellers and the economy in general. With the tax credit extension and expansion, I would expect to see another surge in home sales in the spring as Realtors work with first-time homebuyers and existing homeowners to finalize their purchase agreements before the April 30th deadline.
New ITT technology passes Army test
Fort Wayne-based ITT Communications Corp. announced Thursday that a new radio technology passed some U.S. Army simulation tests.
ITTs Soldier Radio Waveform was successfully deployed in the Armys On The Move Event 09 at Fort Dix, N.J., ITT reported.
The waveform is to be used in the next generation of field-communication equipment, the Joint Tactical Radio System.
ITTs major military contract is to build the Single Channel Ground and Airborne Radio System for the Army, but the work is winding down. The company also announced Thursday it demonstrated a way to add the new waveform to the SINCGARS system.
Dawn Food workers eligible for assistance
Workers losing jobs at Dawn Food Products Inc. are eligible for assistance under a federal program that provides up to two years of tuition and unemployment benefits, the Indiana Department of Workforce Development announced Thursday.
Dawn Food in April announced plans to close its doughnut operation in Ossian, citing a need to reduce costs and align resources to fit customers needs. The decision put 59 employees out of work.
Dawn Food, based in Jackson, Mich., makes baking mixes, icings, fillings, glazes and par-baked and fully baked foods at 12 plants in the U.S. and four more in other countries.
The workers have been declared eligible for benefits under the federal Trade Adjustment Assistance Program, which helps employees who lose jobs because of imports or jobs moved to other countries.
GM names new head of Buick, GMC brands
General Motors Co. on Thursday named Brian K. Sweeney, a 20-year company veteran, to head its Buick and GMC brands.
Sweeney replaces Michael Richards, who left the company Dec. 10 after eight days on the job. Sweeney, 42, is the latest in a string of management changes for the automaker.
The Allen County truck plant makes the GMC Sierra and Chevrolet Silverado.