Geist Waterfront

Current Listings:  44

• Highest priced new Geist waterfront listings:

Fall Creek Township – Confidential Listing$5,500,000 (I think we all know whose home this is, it has been in the news a lot lately)  This price remains the same since it was listed.

Lawrence Township – 9873 N. Hampton Cove Lane $2,790000, previously listed for $3,800,000 a decrease of  approximately 27%

Sales/Pendings:  19 sales/6 pendings

Fall Creek Township – 11647 Fall Creek Road sold for $1,225000 and was listed at $1,295,000

Lawrence Township – 9080 Bay Breeze Ct. sold for $1,225,000 and was originally  listed for $5,500,000, most recently listed for $1,950,000

During the period 1/1/10 – 9/1/10, there were also 19 homes sold on Geist, but only one was over $1,000,000.  During this same period this year, there have been 6 sales over $1,000,000.

If you are interested in the statistics for your neighborhood, contact me and I will be glad to give you that information!!

www.11910promontoryct.com
Enjoy waterfront living at its best!  The panoramic Geist views will take your breath away!! Home features sprawling main lvl w/LR w/ full wall of windows, open to DR,GR & Kit, gorgeous Mstr Ste, BR/Office & screened porch. The walk out lower lvl features a FR, Rec Rm, and 3 addt’l BRs. If you enjoy outdoor living, you have come to the right place, the pool, hot tub, multi-level deck &  private dock offer many opportunities. Located on a private drive, you have found your own oasis!

Trash Collection Schedule Adjusted

for July 4^th Holiday

Curbside recycling and trash collection will operate on a slide schedule during the holiday week

INDIANAPOLIS – The Indianapolis Department of Public Works (DPW) would like to remind residents that there will be NO curbside recycling, residential or heavy trash collection on Monday, July 4, in observance of Independence Day.

All residential trash, heavy trash and curbside recycling routes will run one day behind for the entire week. Monday routes will be serviced on Tuesday, July 5; Tuesday routes will be serviced on Wednesday, July 6; and so on. Friday routes will be serviced on Saturday, July 9. All services will return to normal schedules on Monday, July 11.

For more information, please contact the Mayor’s Action Center at (317) 327-4622 (MAC).

Trader’s Point Creamery Farmer’s Market

Zionsville Farmer’s Market

Carmel Farmer’s Market

Fishers Farmer’s Market

Wilson Farm Market

Greenfield Farmer’s Market

Cumberland Farmer’s Market

Danville Chamber Farmer’s Market

Plainfield Township Farmer’s Market

Franklin Farmer’s Market

Greenwood Farmer’s Market

Broad Ripple Farmer’s Market

Binford Farmer’s Market

If so, you are required to pay back $500 per year to the IRS until you repay the full $8000 or the balance needs to be paid when you sell your home.  This has been causing some issues with the filing of 2010 tax returns.

1. Married Filing Joint taxpayers who received the FTHB credit on a 2008 purchase

There seems to be an identified processing issue primarily impacting refunds for married couples filing joint returns this year who received the First Time Homebuyer credit on their 2008 tax return. This credit was an interest-free loan, and must be paid back beginning this year under the provisions of the law.

This issue, related to Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, primarily impacts Married Filing Jointly taxpayers who filed their tax returns this year before Feb. 22. The IRS is working aggressively to manually process tax returns for this group of taxpayers. It expects most, if not all, of these refunds to be available by April 5, and others the following week. (The date assumes that there are no other issues with their return, and that their refunds are not subject to any offsets for unpaid federal taxes or other debts.)

2. Taxpayers who received the FTHB credit and are now reporting the sale or disposition of their home

3. Taxpayers who received the FTHB credit and are attempting to pay back more than the amount required (typically $500)

These two issues require changes to IRS’ core tax processing systems. The IRS is actively working on the development and testing of the required changes that will allow these impacted tax returns to be processed and appropriate refunds issued. The IRS does not currently have a definitive date for when these changes will be complete, although it will be in April.

What should taxpayers do?

The IRS understands that taxpayers affected by this issue are anxious to get the status of their refund. For those who have already filed, no action is necessary. They can check “Where’s My Refund” at www.IRS.gov for updates. Because the IRS is already aware of this issue and is taking corrective action, there is no need to call.

For those who have not yet filed and are making a repayment of a First Time Homebuyer Credit this year, there is a simple step taxpayers can take to help speed processing. Couples filing a joint return for tax year 2010 who received the credit on their jointly filed 2008 tax return should file two 5405 forms, one for each taxpayer. For couples filing a joint return for 2010 but who had a different filing status in 2008 and only one spouse received the credit, the IRS recommends filing one Form 5405 for the taxpayer who received the credit.

Those who took advantage of the “First Time Homebuyer Credit” with their home purchase in 2009 are not required to repay.

You can write off relocation costs on your taxes, as long as the move is work-related.

Some of the the deductions that may be deductible are:

• Costs to move household goods and personal property
• Limited storage and insurance fees
• Utility connection or disconnection charges
• Some lodging and travel expenses
• Shipping costs for your car
• Travel arrangements for your pets

Use the long Form 1040 to claim moving costs, use Form 3903 to figure the costs.

Ensure you meet the distance test – The location of your new job must be at least 50 miles farther from your prior address than your last office was.  The IRS’s distance test only considers the location of your old home and how far it is from your previous job, not your new residence

Check the time requirements – Moving expenses are deductible if they were incurred within one year of starting a new job.  You also have to work full time at a new job for at least 39 weeks during the first 12 months.  As for self-employed workers, they must meet the year-to-move deadline and work full time at their entrepreneurial enterprise for 78 weeks during the first 24 months.

Collect all of those moving receipts – To claim the deductions, make sure you have receipts such as for the costs.

Always consult a tax professional before taking any deductions!

While renting offers zero tax breaks, buying a home offers several tax benefits that can make homeownership more affordable. to understand the all of the tax benefits of home ownership.

The following is a few of the tax benefits to home ownership:

▪ Home mortgage interest deduction: Home owners can take an itemized deduction on interest paid on a mortgage or mortgages of up to $1 million for a principal residence and/or second home. This deduction could potentially reduce the cost of borrowing by one-third or more.
▪ Property tax deduction: Home owners can deduct from their federal income taxes the state and local property taxes that you pay on the home.
▪ Deductible home buying expenses: Several closing costs in a home purchase are also deductible, such as loan origination fees (points), prorated interest on a new loan, and prorated property taxes paid at settlement.
▪ $250,000/$500,000 home-sale exclusion: Home owners who have lived in their home for two of the prior five years prior to its sale do not have to pay income tax on the majority of their profit — $250,000 for single home owners and $500,000 for married homeowners who file jointly.

Don’t forget those of you who took advantage of the First Time Homebuyer’s credit in 2008 are required to pay that back.

I always recommend consulting a tax professional to be certain that you maximize your tax benefits.

When:  January 28th – February 6th

Where:  Indiana State Fair Grounds

Cost:  $13 for Adults

$ 3 for children 6-12 years of age

Children 5 and under are FREE

The centerpiece home is the “Keller” by Fischer Homes.  I have visited several of their models and they incorporate some very unique features into their homes including…. windows placement so that it does not limit furniture placement, placement of windows to capture the natural light, angled walls, flexible floor plans.  don’t take my word for it, come take a look for yourself.

Not in the market for a new home?  Come and visit the many participating vendors and get home remodeling, decorating or maintenance ideas.

Are you an HGTV junkie like me?  Come and meet Divine Designs painter, Andrew Downward or Hometime’s Dean Johnson

Central Indiana

Average sales price for 2010 is up 6.8% to $151,832 as compared to 2009

4th Quarter 2010 average sales price is also up 6.8% to $152,142

Jul-Dec 2010 average sales price is up 6.9% to $155,144

2010 closed sales are 21,463, a decrease of 9.7%

Oct-Dec closed sales were down 26.5%

Statewide closed sales were down 6.5% t57,765

Hamilton County

2010 closed sales were up 3.4% t0 304 as compared to 2009 with 294

Average sales price was down 2.2% to $232,417

Months supply of inventory was up 17.2% to 8.2

Marion County

2010 closed sales were down 12.5% t0 677 as compared to 2009 with 774

Average sales price was up 10.9% to $119,617

Months supply of inventory was up 14% to 9.2

Hendricks County

2010 closed sales were up 1.6% t0 130 as compared to 2009 with 128

Average sales price remained constant at $154,975

Months supply of inventory was up 29.6% to 8.9

Hancock County

2010 closed sales were down 20.3% t0 55 as compared to 2009 with 69

Average sales price was up 7.3% to $148,469

Months supply of inventory was up 11.3% to 9.6

If you have questions about these statistics or want the same for another county, please let me know and I will be happy to assist you!!

We are looking forward to a better 2011 market!!  Want to be part of the statistics, give me a call, I would love to assist you in the sale of your home or help you find your dream home!

All restaurants offer a 3-course $30 dinner menu unless otherwise noted as 2 for $30

• Gift certificates are available for the hard to buy for person
• Join Devour Downtown on Facebook
• Register for the Devour Downtown e-mail list and get updates on new offers
• Follow Devour downtown on Twitter
• Devour Downtown is a great way to experience member restaurants in the downtown Indianapolis area. It is the perfect excuse to visit your favorite restaurant downtown or to try a new one!
• Devour Downtown originally started in 2005 as Indy Restaurant Week. This week-long event was created by the Indianapolis Downtown Restaurant & Hospitality Association (IDRHA), a chapter of the non-profit Indiana Restaurant Association (IRA)

I can’t wait to try some of the restaurants!!!  The first person to call me will receive  $30 gift card to enjoy Devour Downtown yourself!!!