Indianapolis Real Estate

TOP TIPS TO IMPROVE YOUR CREDIT

2009-11-17T13:21:00.000-08:00

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

2009-11-06T09:02:00.000-08:00

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

2009-10-08T10:39:00.000-07:00

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!

2009-06-05T10:20:00.001-07:00

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!

2009-05-27T08:11:00.001-07:00

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

2009-05-18T14:03:00.000-07:00

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?

2009-05-14T11:42:00.000-07:00

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

2009-05-06T08:45:00.000-07:00

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..............

2009-04-30T15:32:00.000-07:00

.......$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

2009-02-16T11:27:00.000-08:00

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

2009-02-16T10:51:00.000-08:00

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.

Don't Go It Alone When Buying A New Home

2008-07-25T13:32:00.000-07:00

Part of the problem that caused the recent housing slump is that many home buyers have been taken advantage of. They have bought homes without a licensed real estate agent looking after their best interest. State License Law require that licensed agents act in the best interest of their client whether they be house sellers or buyers. This is called agency, and a large part of the State Licesing examination deals with knowledge of this subject. Basically agency is the "golden rule", the agent will act for their client exactly like they would act for themselves. In a few cases a real estate agent will represent both the buyer and seller of a piece of real estate. This is called dual agency and a very tricky situation because the agent is being asked to represent both sides of the transaction in their best interest. The agent has to disclose and get the written approval of both clients before they can move forward in this dual agency transaction. Sale persons for new home developments do not have to be licensed. They are paid by the developer to sell homes and are expected to perform. When a new home buyer comes in the door these independent sale persons do not have to disclose dual agency. In this situation there are many cases where the true cost of that new home are not disclosed. These understated costs have included a significant understatement of future real estate taxes, the high cost of adjustable rate mortgages, the future cost of neighborhood association fees, the under-escrowing of future association provided maintenance costs, or the amount of closing costs involved. Too often buyers think they are saving money by not being represented by an agent. This is not the case because in Indiana the agent's fee is paid by the seller, not the buyer. In conclusion don't go it alone, make sure there are no financial surprises in your new home a few years down the road, use a licensed real estate agent in your home purchase.

Home Appreciation

2008-07-23T11:45:00.000-07:00

Homes over the last 40 years have appreciated at about 4% a year, or at 0.5% above the inflation rate. As prices fluctuate outside this norm they tend to return to that norm over time. Thus the 14% appreciation we experienced a couple of years ago was almost certainly not sustainable. Consequently the real estate "bubble" burst and prices have dropped by around 10% to their historic average. It also means in the long term house prices will once again start appreciating at roughly 4%. Housing has historically been demand driven, primarily by the growth of the population. The housing boom of the late 1940s was driven by the troops returning from overseas and wanting to to buy homes financed by the GI bill. The increased divorce rate, and lower birth rate have decreased the average person per house, and accordingly increased the house demand. The wealth created in the last ten years created a market for second(and third) homes and in the process increased demand. The recent fall of the dollar in relation to other currencies has made U.S. housing look cheap in relation to overseas housing. This has increased the demand for "vacation" homes, particularly along the coasts, for overseas owners. Because all regions of the country grow, or contract at different rates each may in a different trend. Generally speaking the coasts experience much wilder home value fluctuations than the northeast or midwest. While housing prices have historically been demand driven the recent real estate bubble was in part created by building more housing than demand dictated. This was in part the result of home building becoming increasing a national function replacing in a large part the local home builder. This resulted in many markets, a disconnect between the local demand and supply.

Be Intentional In Your Home Buying Decsion

2008-07-18T17:32:00.000-07:00

Too many people go through life with no plan. This results in not achieving their life's goals. Be intentional with your decisions, know where you are going and how you will get there. This is particularly true with home decisions. Buying a home is probably the fourth most important decision of your life after chosing a spouse, a career, and education choices. Many people react to home purchasing decisions with no thought as to their long-term goals. Is the environment important to you? Then chose a home closer to work. Is wellness and fitness important for you? Then select a home near parks, recreational facilities or trails. Will your career cause you to move every few years? Then consider renting because the purchase and sales cost of frequent moves will not be offset by real estate's value appreciation. Also real estate is not a liquid asset and in times of market fluctuation you may not be able to sell your home quickly. Don't spend more than 30% of your gross income on all the expenses associated with a home. Do you want to be active in your place of worship? If so chose a home location that is close and easily accessible. If you have children check out the performance of local schools but also look behind the statistics. Some stats are adversely affected because the school districts are not afraid to take on the challenges of a larger disadvantaged school population. Want to generate maximum wealth in your home? Achieve maximum wealth by not taking a 30 year mortgage, but a 25, 20 or even a 15 year mortagage. You will be surprised what a difference a shorter term loan can make. If you are going to live in your home for less than five years do not buy the first home in a new subdivision. When you are ready to sell you could easily be competing with your same house for sale by the developer. The average term of home ownership in the United States is only seven years. In conclusion be intentional in your home buying decisions to get a jump start on the rest of your life.

New Real Estate Blog

2008-07-15T17:49:00.000-07:00

Welcome to the Greentree Real Estate Blog. Please check back for the latest real estate trends and tips for the Indianapolis area.