Why build? As you enter this 5BR/3BA better than a new home, the spac LR/DR, you feel like you are in a model home w/the neutral decor & upgraded finshes. The kit/brkfst area & soaring 2-story FR, all w/lots of natural light, along w/5BR/In-law qtrs/den w/access to full bath add to the appeal. The Expansive mstr retreat w/it’s vaulted cealing, sitting area & luxurious bth, give you a spa experience. 3 addt’l BR’s w/ample closet space & full bth complete upper level. All this w/a pond view.

Lawrence Township

January 2010

184 New Listings

51 Sold Listings

February 2010

242 New Listings with 50% of those being in the $100,000 – $200,000 price range

$1,795,000 Highest priced new listing – 9115 Admirals Bay Drive

83 Sold Listings with 30 of those being in the $100,000 – $200,000 price range

$655,000 Highest priced sale – 11630 Diamond Point Ct.-

March 2010

26 New listings already in two days of March

Fishers

January 2010

163 New Listings

69 Sold Listings

February 2010

195 New Listings with 150 of those being in the $150,000 – $300,000 price range

$2,390,000 Highest priced new listing – 12139 Rangeview Ct.

74 Sold Listings with 37 of those being in the $150,000 – $300,000 price range

$520,000 Highest priced sale – 10817 Turne Grove Ct.

March 2010

21 New listings already in two days of March
If you have been sitting on the fence, waiting for the right time to buy or sell, the time is now.  With the $8,000 First time homebuyer tax credit and the $6,500 repeat buyer tax credit expiring at the end of April, you need to act now!!  Your contract has to be completed by April 30, 2010 and closed by June 30, 2010.

Contact the realtor with experience in your area and who will look out for your best interest.  Check out my listings, one of them might be just what you are looking for but I can show you any home in the area, regardless of who it is listed by.

Creating friendships….one home at a time!!!

FREE TAX CREDIT SEMINAR

Tuesday’s
6:30 PM-7:00 PM 
Held at:
4929 E. 96th St.
Indianapolis, IN 46240

Do you have questions such as:

• Who is eligible to claim the tax credit?
• What is the definition of a “move-up” or “repeat” homebuyer?
• What is the definition of a “first time homebuyer”?
• How is the tax credit amount determined?
• What are the income limits for claiming the tax credit?
• What is “modified adjusted gross income”?
• How is the partial tax credit determined?
• Is the tax credit the same as a tax deduction?

How does HUD allow “monetization” of the tax credit?

• How do I claim the tax credit?
• Can two unmarried’s allocate the tax credit if one qualifies for the $8,000 first time homebuyer credit and the other qualifies for the $6,500 repeat home buyer credit?

You ask the questions and a Mortgage professional will answer them. Don’t forget to inquire about the new loan programs available! Or, get pre-approved, for FREE!

This tax credit won’t last long – it’s only good through the end of April – The  unprecedented Mortgage Rates won’t last long either!

Call me today to register (317-509-4000) for a FREE, no obligation, upcoming Seminar held each Tuesday evening through the Month of April from 6:30-7:00 PM.
Choose a Tuesday, but hurry, before it’s too late

If you’re a property virgin about to take the plunge, here are some common blunders to avoid–and helpful tips that could save you money and frustration:

• Not checking your credit report and score

Buyers will need a good credit score  to obtain the most favorable mortgage rates.  The cleaner your credit report and the higher your credit score  the more likely you are to be approved for a mortgage

Review your credit report a few months before you begin your house hunt, and you’ll have time to ensure the facts are correct and dispute mistakes before a mortgage lender checks your credit. You can access a free copy of your credit report at annualcreditreport.com once every 12 months.

• Not getting preapproved

After you’ve assessed your credit report, it’s time to set up an appointment with a qualified lender, like Cori Drudge of Fairway Mortgage Corp, to determine how much you can afford. First-time home buyers need to take the time to get an approval from their lender before looking at homes.  Getting preapproved can help you save time by looking for homes that you know you can afford instead of falling in love with a home and then finding out, you can’t afford it.

• Not creating a long-term budget

If you have been watching the news, you understand that in the past mortgages were given to people who clearly did not have the means to pay them back. Don’t make this mistake, create a budget before you beginyour home search to determine just how much house they can really afford. A good rule of thumb is to devote no more than a third of your monthly household income to housing costs, which include mortgage principal, interest, taxes, and insurance.  There are many mortgage calculators to give you an idea but I always recommend talking to a qualified lender first.

• Overlooking hidden costs

Don’t forget the cost of taxes, insurance, utilities, and fees. There are several hidden costs that first-time home buyers neglect to prepare for. They can be anything from the closing costs to appraisal fees, escrow fees, homeowner’s insurance fees, property taxes, and even moving costs. Cost of repairs and maintenance have to be considered also. You might consider asking the seller to pay for a 1 year home warranty that will cover some repairs and not breaking your budget.

• Not using professional help

You need someone looking out for your best interest.  Sure, it’s possible to go out and buy a home without the aid of a professional real estate agent. But a good realtor can save you a lot of  time and frustration.  A realtor has access to all the homes on the market and those that are pending and sold.  They can give you a comparative anaylsis to determine the proper value of the home you are interested in, show you homes, assist you with inspections.  You want someone who has your best interest at heart, someone who will be by your side throughout the buying process and beyond.

• Picking your real estate agent and lender blindly

Ask your friends, neighbors and family for recommendations.  You have to have a good relationship with your realtor and lender or the process will not go smoothly.  Don’t sign a buyer’s agency agreement until you feel comfortable working with that agent, you don’t want to be stuck.

• Thinking you’ll get everything on your “wish list”

Create a need/want list with your agent before searching for homes.  Include items such as… area, school system, proximity to work, new kitchen, home office, this will narrow your search. You may realize there are certain parameters you really want or don’t want.  You have to be flexible, there is no such thing as a perfect home!  Your goal is to be able to afford everything you need–as well as some items you want–all while staying within your budget.

• Getting emotionally attached to a home before you have it inspected

Before you start placing your furniture in the home, you need to bring in a home inspector to check the safety of your potential new home. Inspectors will evaluate the structure, construction, and mechanical systems of the home and will give you the approximate price of repairs that may be needed. They will examine everything from the electrical system, water heater, and HVAC system to the foundation and floors.

Your realtor may recommend inspectors but always do your own research.

• Not researching your neighborhood

Always check out the school systems, crime statistics and activities in the area.

“Remember, you can change your house, but you can’t change the neighborhood.”

• Not considering the resale value of your home

You just started the home-buying process but selling the home probably has not crossed your mind.  You may be planning to live in a home forever but life happens,…whether it is a job transfer or having another child or taking care of an incapacitated relative, circumstances change.

You want a home that will be easy to sell, while looking at homes to purchase, keep in mind what the typical home buyer is looking for.  Just because you don’t mind backing up to a busy street, doesn’t mean that they typical buyer won’t mind.

With the extension and expansion of the popular first-time home buyer tax credit, as well as price declines and historically low mortgage rates, an influx of qualified first-time buyers are rushing to take advantage of the market.  If you’re a property virgin do your research first!!!  Call an agent with experience in the area your are searching and start your home search now!

1. Selling low/Buying low – Most property values are down, the amount you lose is a loss on paper because when you buy your next property, you will be able to purchase that home at a discounted price.  If you make a smart decision and buy when the prices are down, when prices rebound in a few years, you will be in a good shape. For example, look at this gorgeous 2004 Indianapolis Monthly Dream Home located in Hamilton Proper that originally listed for $4.4 Million in April of 2006 and just took a price reduction of $1 Million dollars to a current list price of $2.3 Million.
2. Down-payment assistance is still available – While the only Zero down loan I am currently aware of is USDA financing, down-payment assistance programs are still available in our area.
3. Tax credits are still available – The $8,000 first-time home buyer tax credit and the $6,500 move-up credit are available where a binding sales contract is signed by April 30, 2010 and the home purchase is completed/closed by June 30, 2010.  There are also an array of energy tax credits available for home improvements.  If your appliances are outdated, check out the new “Cash for Refrigerators” program.
4. Talented real estate agents are available to assist you – Choosing your real estate agent is an important step in your home buying/selling process.  Check out their references/testimonials, ask friends and neighbors about if they have had experience with this agent.  Don’t be afraid to ask questions.

If you are looking to buy or sale, call the realtor that WORKS for you!  I incorporate by market experience and the latest technology to make your home buying/selling experience the best it can be!

Kim Carpenter “Kimsellsindy.com” – Geist/Indianapolis Real Estate Agent
Keller Williams Realty Indy Metro NE
Geist/Indianapolis IN Real Estate Website

sold@kimsellsindy.com
317-509-4000

]]> http://www.kimsellsindy.com/4-reasons-to-sellbuy-now/feed/ 0 http://www.kimsellsindy.com/the-colts-are-going-to-come-thru-like-todays-snow-storm-quiet-but-packing-a-punch/ http://www.kimsellsindy.com/the-colts-are-going-to-come-thru-like-todays-snow-storm-quiet-but-packing-a-punch/#comments Fri, 05 Feb 2010 16:23:30 +0000 kim carpenter http://www.kimsellsindy.com/?p=1681 Whether you are a football fan or not, you will probably watch our Colts beat the Saints at the Super Bowl XLIV on Sunday!!   An estimated 93.2 Million people watched last years Super Bowl.

• Some watch for the commercials – Watch the 10 Best Super Bowl Ads of All Time
• Some watch for the Half Time Show – Super Bowl XLIV Half Time Show
• Some come to the parties for the food – Food Networks Super Bowl recipes

The forecast in Miami looks good for the game, mostly clear with a high of 72 degrees, a lot better then our snow and sleet.  If you are like me and can’t make the trip to Miami, there are plenty of places to watch the Super Bowl.

GO COLTS!!!!!

• As of February 1st, FHA has relaxed their Anti-Flipping rules – under the old rules any property that was purchased within the last 90 days with FHA financing were not eligible for FHA financing.  Whereby under the new rules, a buyer may purchase a property with FHA financing even though the seller had FHA financing and has not held the property for 90 days.  This should help reduce some inventory
• The Home Buyer Tax Credit is restrictive in the way the IRS interprets the credit for married couples.  In the guidelines require that both spouses must have the same exact ownership history in order to claim the credit. The IRS only allows married couples to claim the credit if both spouses qualify for the same type of credit in their own right, even if the couple would get a tax credit if they were unmarried.  Married couples are tested together, and must both be eligible.  Whereas, unmarried couples are tested individually such that if one does not qualify, the other can still get a credit.  There is a movement asking Congress to take immediate action to life these restrictions.  That remains to be seen since the credits expire at the end of April.
• FHA to provide early relief to struggling homeowners – Homeowners with FHA-insured mortgage loans who are experiencing financial hardship are now eligible for loss mitigation assistance BEFORE they fall behind on their mortgage payments.  Previously, these homeowners were not eligible for such assistance until after they had missed payments.  The FHA-HAMP may be used to assist borrowers facing imminent default – defined as an FHA borrower who is current or less than 30 days past due on the mortgage obligation and is experiencing a significant reduction in income or some other hardship that will prevent them from making the next required payment on the mortgage during the month that it is due.
• Can loan modifications cause trouble down the road? – Credit scores can get dinged after a home loan modification, making it more costly or tougher to get a loan or credit card.  How badly your credit is dinged varies significantly depending on your lender, as well as when you received your loan modification, your credit history and how your loan was altered.
• Home buyer tax credit is being delayed -  Since the passing of the stimulus program, more than 1.4 million buyers have taken advantage of the tax credit.  All they had to do was file an amendment to their 2008 tax return (for the ones who filed last spring) and claim the refund of 10% of the purchase  price – up to $8,000.    But all that changed on November 6, 2009 when the rules changes because of an extended and expanded version of the home buyer tax credit went into effect and that put filing for the credit on hold.  This marked the start of a new IRS paperwork wrangle.  Homeowners who closed before November 6th use form 5405 to claim the credit but those closing after that date are in limbo because no form yet exists for them to file.  The IRS had been expected to come out with a revised form by early January but it has yet to release anything.  Because of fraud, you now are now required to submit a signed copy of the settlement state (HUD-1), plus a signed mortgage statement with the new address and a copy of the new homeowner’s driver’s license, bank statement or pay stub showing the new address.  Also, you can not e-file, you must file a paper return.
• Beginning with FHA loans issued on April 5th of this year or later, FHA upfront MIP is going up from 1.75% to 2.25%.  Montly MIP may increase in the near future as well.  Also, seller concessions are dropping from a maximum of 6% down to 3%.
• Fannie Mae announces 3.5% seller assistance on Homepath properties: Borrowers purchasing a Fannie Mae  Home Path property will be given 3.5% of the final sales price to be used towards closing cost assistance or their choice of appliances.  The offer is available to any owner occupant who closes on the purchase of a home listed on HomePath.com before May 1, 2010.  Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover. Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help.

Tax Assistance/Breaks

• Free tax preparation begins at locations throughout Indianapolis – This year, the city received a $90,000 boost in funding through a grant provided by the IRS as part of the agency’s Volunteer Income Tax Assistance (VITA) program.  This allowed them to staff 16 sites throughout the Indianapolis area.  The goal is to complete 5,000 tax preparations.  In order to qualify for free tax preparation, an individual must make $20,000 or less each year or $49,000 or less each year with dependents.  For more information on site locations, days and hours op operation, or volunteer opportunities, please call 2-1-1 or visit United Way of Central Indiana.
• New deductions, credits and expanded eligibility rules for 2009 tax return -  Education Credit – More parents and students use a federal education credit to offset part of the cost of college under the new American Opportunity Credit.  The maximum $2,500 credit is available to eligible taxpayers who paid at least $4,000 in qualified college tuition, fees and required course materials, including books, in 2009.  There are income limits, so please consult your tax advisor or read the article above.  Some parents should bypass the new American Opportunity Credit and opt instead for the supercharged Hope Credit.
• Home Energy Credits -If you weatherized your home or bought alternative-energy equipment in 2009, you may qualify for either of two expanded home-energy credits, regardless of your income.  You may claim a credit worth 30% of the cost of eligible home improvements on your principal residence, up to a maximum of $1,500.
• New Vehicle purchases tax credit – If you bought a new car, light truck, motorcycle or motor home on or after February 16, 2009, through the end of the year, you may be able to deduct the state or local sales tax or excise tax you paid on the vehicle on your 2009 tax return.
• Unemployment benefits tax credits – Unemployed workers are allowed to exclude the first $2,400 of unemployment benefits received in 2009.

I know this is a lot to absorb, but well worth the time, it may same you some time or money.

If you are looking to buy or sale, call the realtor that WORKS for you!  I incorporate by market experience and the latest technology to make your home buying/selling experience the best it can be!

Kim Carpenter “Kimsellsindy.com” – Geist/Indianapolis Real Estate Agent
Keller Williams Realty Indy Metro NE
Geist/Indianapolis IN Real Estate Website

sold@kimsellsindy.com
317-509-4000

When we think of Colt’s fan’s we usually think of Adults, well watch the attached video and you will see that Colt’s fan’s can be very young and talented too!!!  They appeared on WIBC this morning and made quite an impression.

The Faber Boy’s, live in Fishers and are quite the performers!!!  They wrote the song and sang it too!!!  Listen and pass it along.

http://www.youtube.com/watch?v=0w3ZYSlcJbQ

I am proud to know them and their parents too!!

GO COLTS!!!!!!

The Indiana Association of Realtors has released the year end housing market statistics:

December 2009 Statistics:

Marion County

Units Sold December  2008:  775

Units Sold December 2009:  700     Down 9.7%

Median Sales Price December 2008:  $69,900

Median Sales Price December 2009:  $78,000  Up 11.6%

Hamilton County

Units Sold December  2008: 289

Units Sold December 2009:  271    Down 6.2%

Median Sales Price December 2008:  $197,500

Median Sales Price December 2009:  $190,870 Down 3.4%

4th Quarter 2009 Statistics:

Marion County

Units Sold 4th Quarter  2008: 2,262

Units Sold 4th Quarter 2009:  2,515     Up 11.2%

Median Sales Price 4th Quarter 2008:  $75,000

Median Sales Price December 2009:  $91,900  Up 22.5%

Hamilton County

Units Sold 4th Quarter  2008: 812

Units Sold 4th Quarter 2009: 990    Up 21.9%

Median Sales Price4th Quarter 2008:  $198,000

Median Sales Price 4th Quarter 2009:  $187,500 Down 5.3%

YTD 2009 Statistics:

Marion County

Units Sold YTD  2008: 10,871

Units Sold YTD 2009:  9,881     Down 9.1%

Median Sales Price YTD 2008:  $87,000

Median Sales Price December 2009:  $89,000  Up 2.3%

Hamilton County

Units Sold YTD  2008  :4,347

Units Sold YTD 2009: 4,011    Down 7.7%

Median Sales PriceYTD 2008:  $201,900

Median Sales Price YTD 2009:  $185,307 Down 8.2%

If you are looking to buy or sale, call the realtor that WORKS for you!  I incorporate by market experience and the latest technology to make your home buying/selling experience the best it can be!

Kim Carpenter “Kimsellsindy.com” – Geist/Indianapolis Real Estate Agent
Keller Williams Realty Indy Metro NE
Geist/Indianapolis IN Real Estate Website

sold@kimsellsindy.com
317-509-4000

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