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March Madness has begun!!!
March 4, 2010 by kim carpenter · Leave a Comment
When you think about March Madness, you typically think about basketball but I am referring to the Spring real estate market!
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
March 3, 2010 by kim carpenter · Leave a Comment
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
10 Mistakes Property Virgins Make
February 22, 2010 by kim carpenter · Leave a Comment
Purchasing a home is supposed to be a dream come true, but some buyer’s make mistakes that turn the occasion into a nightmare!
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!
Register to win a FREE Flat Screen TV!!!
February 17, 2010 by kim carpenter · Leave a Comment
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4 Reasons to Sell/Buy now!
February 9, 2010 by kim carpenter · Leave a Comment
Selling your home in a tough real estate market can be a challenge but can actually make this a good time to move forward, pick your realtor, and put that “For Sale” sign in your yard
- 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.
- 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.
- 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.
- 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
