TOP TIPS TO IMPROVE YOUR CREDIT

Review your current credit report for accuracy. Everyone is entitled to one free credit report per year from each of the three credit bureaus-Experian, Equifax, and TransUnion. Get a copy of your credit report and look at it for accuracy. First, make sure that the information in your file is about you and only you, not someone who has a similar name or a similar Social Security number. It is very common for your credit reports to have mistakes or incorrect information. At a minimum, make sure that the information you are being evaluated on is current and correct.

Market Stabilization Program

The State of Indiana is now passing down their share of the stimulus money from President Obama. It is possible for buyers to get up to $15,000 towards the purchase of a home. This money can be used for DOWN PAYMENT, CLOSING COST, and REPAIRS. The main guidelines are as follows:
1) Not only for first-time home buyers - buyers could have previously owned a home
2) Home must be owner occupied
3) Home must be a foreclosure
4) Buyers must meet mortgage approval
5) Buyers must income qualify
6) Home must be in "target area"
If you would like more information, please contact me at 557-5478.

Fall Tips for Great Curb Appeal

The fall selling season is here and there is no doubt that we are in an unusual and sometimes difficult market. With so much inventory to choose from buyers need to make sure their home shows well. First impressions can make a difference, so make certain the curb appeal of your home is attractive. If the outside of a home looks a mess that perfect buyer may pass you by. I have listed some tips to help you improve the curb appeal of your home for the fall selling season.

Be sure the lawn is cut and all weeds removed.
Rake and dispose of leaves.
Make sure that landscaping is well maintained.
Clean and inspect gutters and down spouts.
Make sure that siding, shutters and brick are in good condition.
Clean windows.
Ensure that outdoor lighting works properly. Replace any bulbs that no longer work.
Use mums to add color to your landscape.
Remove cobwebs and bugs from doors, windows and shrubs.
Make sure that the front door is attractive and inviting.

Happy Fall Selling! If you are looking for more tips, please contact me @ 317-557-5478.

Staging!

Even if your many collections, shag carpet and harvest gold appliances make you feel at home, these just might be turn-offs to a buyer. This is why "staging" has become so popular in helping to get homes sold. According to Stagedhomes.com the final sale price on staged homes increased an average of 3 percent versus those that were not. Staged homes also typically spend 80% less time on the market. This does not have to be expensive or overwhelming. Since I am an Accredited Staging Professional (ASP), I can help you stage your home and get it on the market to get the highest dollars in the least amount of time. If you are interested in learning more, contact me at www.margecrouch.com

Indianapolis is Affordable!

According to the National Association of Homebuilders (NAHB) Wells Fargo Housing Market Index, Indianapolis ranks as the most affordable housing market for the 15th consecutive quarter. Check out this report from CNN Money.

Additional Opportunities for Homebuyers to Consider

The Federal Home Loan Bank of Indiana (FHLBI) offers up to $10,000 in Neighborhood Stabilitzation Assistance to match an NSP investment. Many of the programs that I have been talking about in my recent blogs can be layered on top of one another in order to maximize assistance. Homebuyers can use these funds for closing costs and downpayment assistance. There are income restrictions on these programs as well as the home you are purchasing must meet the location requirements. Now is a great time to become a homeowner and make your money work for you. Questions? Let's talk! 317-557-5478.

Why rent when you can own?

Declining home prices and record low mortgage rates along with the tax credits now make home purchases more affordable and are creating a great environment for renters to convert to homeowners. There will continue to be a tremendous number of foreclosures, along with lower prices which provides wonderful opportunities to buy homes at amazing prices. In many markets, home values are at the lowest level since 2003. With fixed mortgage rates at or slightly under 5%, the tax credit that is available and a vast selection of homes to choose from, many buyers are beginning to recognize that this is a great opportunity to break out of renting and into homeownership.

$15,000 for Foreclosed Homes

Those individuals who buy a foreclosed home to use as a primary residence can qualilfy for a $15,000 loan (not to exceed 20% of purchase price) from The Indiana Housing and Community Development Authority (IHCDA) Market Stabilization Fund. These are available to assist home buyers w/the acquisition and/or rehabilitation of a foreclosed residential property located w/in an area of greatest need. To learn more about this program and others, visit the IHCDA website at www.in.gov/ihcda.

First Time Home Buyers..............

.......$8,000 tax credit available for first-time home buyers for the purchase of a principal residence between January 1, 2009 and December 1, 2009. This credit does not require repayment and will be claimed on a tax return to reduce the purchaser's income tax liability. There are many great opportunities in the real estate market today and this is just another added benefit for all first time home buyers. Note: a first time home buyer is considered to be anyone who has not owned a home within the last 3 years.

Houses are not just an investment

A house is much more than an investment, though historically houses increase in value more than the rate of inflation. Houses are homes, a place to raise families, a place to provide shelter from the elements, a cozy place to read a good book, or a place to break bread with friends and family. I should know 40 years ago my wife and I bought the perfect home, and it is still perfect. It was the only home my children ever knew, it has seen 40 Christmas, two marriages, and 6 grandchildren. It is still a place to escape the "real world", a place to relax and commune with nature. It has seen countless facelifts, but at its core it is still the same beautiful home we fell in love with in 1969. Yes our house has steadily increased in value, but most of all it is still our wonderful home.

Bad News Sells

There is no doubt we are in an economic slow down, but is it as bad as the media would like us all to believe? There seems to be both statistical and observed evidence that the slow down is not universal. Retail sales were up in January 2009 over sales in January 2008, yet the press amkes it seem like a fluke. Bad news sells! I know that the City of Lawrence has added nearly 3000 jobs in the last 12 months, and lost very few. I know this past Saturday in Castleton, one of Indiana's retail areas, traffic was in a grid lock. This was just like the Christmas season. There is no reason to be there other than to shop or dine. Speaking of dining I seem to wait just as long to get a table in my fav0rite restaurants as always. In conclusion when we each make economic decisions base them on our ownsituation, not on everything we read. I guarntee that today things are not as bad as we read, and that this slow down will end and there will be another boom.