• Inspect the Inspector. Only hire a home inspector with an excellent reputation and credentials. Ask how long the company has been in business, ask about specific formal training and ongoing education the inspector has and verify the inspector carries professional liability insurance also known as “Errors & Omissions” (E&O). If the company doesn’t carry this insurance, it could indicate a poor track record or lack of experience.  Your real estate agent will usually give you names of at least 2 inspection companies in the area, if not, ask for them.
• Ask for a sample of a report. The quality of the final inspection report will be important. A poorly prepared report without pictures or clear, concise details addressing all the various systems and accessible elements of the home is less likely to be taken seriously by a home seller. Look for words like…repair/replacement needed, safety issue.  If they use the term “recommend” then they are not likely to stand behind their findings and the seller may say “they didn’t say it had to be replaced/repaired, they JUST recommended it”.
• Inquire about additional inspection services offered, like…. radon testing, mold testing, water test, septic tests.  Make sure they are licensed to do these types of inspections as well and ask for a discount if you add on additional tests.
• Attend your inspection if at all possible. If the inspector discourages you from going along and asking questions, find another inspector. A home inspection is not simply a laundry list of what is wrong with the home. In addition to documenting issues and needed repairs that may exist, a professional home inspector will also show the new buyer how to operate the various systems in the home and provide tips on improving energy efficiency and maintaining the home in general. And being present during the inspection will make the final written report that much more meaningful.
• Formulate your response for the seller. Once you receive the written report, you and your realtor should review the inspection and decide what items you are going to request the seller to repair/replace.  Always request that the work be completed by licensed/bonded contractor and that receipts be provided.  Keep in mind that the purchase agreement states you may only terminate the purchase agreement if a MAJOR DEFECT is found that the seller is unable or unwilling to remedy, you may not terminate the agreement for maintenance items or items previously disclosed by the seller.
• Get estimates for the repairs/replacements. The seller may want to get their own estimates also but if you have your own, you will know if the estimate from their contractor is out of line.
• Negotiate the repairs. Seller may not be willing to complete all of the repairs, you may have to be responsible for some of them.
• Reinspect. You may want your inspector to reinspect the repairs made by the seller’s, they will charge you a reinspect fee so make sure the repairs are all complete before going out. If the repairs are not complete or done incorrectly, the seller will need to have their contractor redo them and you may request that they be responsible for the reinspection fee since you were told they were complete.

It is not as bad as it sounds but there can always been hidden items that you did not see when you purchased the home.  This is just a part of the process and once this step and the appraisal are complete, it is usually smooth sailing to closing.

To find an inspector in our area go to, http://www.nahi.org/indianapolis-in-home-inspectors.asp for a list of licensed inspectors.

Are you concerned about identity theft? 

Bring your personal documents to “Community Shred Day“!  Watch as your old personal documents are destroyed by Shred it, a high speed, mobile, cross-shredder.  All shredded material will be recycled so you will also help protect our environment!

Don’t know what to do with your unused prescription drugs?

New Pharma  Trash Disposal  – Improper use of prescription medication among teenagers should
be a concern to everyone. Law Enforcement officers will be on site to collect the prescription medications you no longer need and properly dispose of them to protect our environment!

When:  Saturday, April 24th, 10:00am – 1:00pm

Where:  Carmel Police Headquarters
3 Civic Square
Carmel
Host: Carmel Police Department

Municipal Building
401 South Meridian Street
Lebanon
Host: Boone County Sheriff’s Office

Speedway Police Headquarters
1410 North Lynhurst Drive
Speedway
Host: Speedway Police Department

WTHR
1000 North Meridian Street
Indianapolis
Host: Indianapolis Metro Police Department

Cost:  All proceeds from your $5 per box donation will benefit Crime Stoppers of Central Indiana, a 501(c)3 not-for-profit organization working with your law enforcement agency to solve serious crimes in your community.

We all need to do our part!

• Thinking of buying or building a new home?…. why not visit the FREE Spring Parade of Homes.  Tour new homes and new home communities, April 10, 11, 17 & 18th from noon to 6pm daily.  Not in the market for a new home, visit, the “Remodeled Homes” tab to view before and after pictures and get contact info for the Remodeling contractors.
• Butterflies at White River Gardens – White River Gardens’ most popular show, Butterflies, arrives at White River Gardens at the Indianapolis Zoo just in time for spring break! During this show, which runs from March 20 to September 7, 2010, the Hilbert Conservatory fills with delicate, free-flying butterflies. Butterfly pupae arrive during the first week of March. The population increases steadily from several hundred at the beginning of the show to as many as 1,000 butterflies, as more and more hatch out through the summer.  The “Butterflies” show is free for members and included with regular admission.

• Opening night at Victory Field vs. Toledo Mudhens -
  Celebrate the return of baseball season as post-game fireworks explode from center field! The first 5,000 fans to Victory Field will receive a 2010 Indians Schedule Magnet courtesy of Pepsi, Marriott Place Indianapolis and Ivy Tech Community College.

  The Indianapolis Indians, Triple-A affiliate of the Pittsburgh Pirates, play home games at Victory Field, recognized as the “Best Minor League Ballpark in America.”

  Tickets: $4-$15.
• Play a round of disc golf – Disc golf is played like traditional golf, using flying discs instead of clubs.  The object is to throw from a designated starting area (tee) into a target called a pole hole, in as few shots as possible. One stroke is counted for each throw of the disc.  The winner is the disc golfer with the lowest score.

  Why is disc golf so popular?
  - it’s a sport for all ages and skill levels
  - it’s inexpensive (the most expensive discs are $20)
  - there are no green fees!

Our great city has so much to offer!!!  Go out and take advantage of it!

But if you list with me from April 1st – June 30th, you can register to be eligible for an $8000

Century 21 Listings Sweepstakes!

1st Qtr 2010 Statistics:

Geist Waterfront

New Listings:  20

• Highest priced new Geist waterfront listings:

Fall Creek Township – 9080 Bay Breeze Ct.t. Ct.. $2, 500,000 – previously listed at in 2007 for $4,500,000

Lawrence Township – 11690 Fall Creek Rd $1,350,000

Sales/Pendings:  5 sales/3 pendings

14851 E. 113th St is pending with a list price of $2,750,000, previously listed for $3,500,000

Fishers

New Listings:  560

Delaware Township – 158

Fall Creek Township - 402

Pendings/Solds:

Delaware Township -Pendings 63/ Solds 80

Fall Creek Township – Pendings 145/Solds 200

10725_Chase_Ct. is the highest priced Fishers sale with a sales price of $950,000

Lawrence Township

New Listings: 581

Pendings/Solds: 228/264

10803 Portside Ct. was the highest priced sale with a sales price of $1,200,000

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

Are you an HGTV junky?  They make remodeling look so easy and inexpensive but beware, it is not that easy.  See the tips below to make your remodeling project a dream come true, not a nightmare!

• Compile a list of your ideas and prepare a budget – Prioritize your wish list, maybe you can’t afford to do it all right now but a professional remodeler can maximize your dollars by doing the work in phases.
• Find a professional remodeler – Get a list of remodelers in your area by going to ServiceMagic.com or Angieslist.com or by asking for recommendations from neighbors, family or friends.
• Check references and background of your chosen remodeler -  Check with the Better Business Bureau, talk to their references and research their professional associations, such as NAHB.
• Agree on a contract – review details of the contract, check the remodelers’ insurance coverage, review their warranties on the work, make sure they get building permits, be sure you are on the same page before signing on the dotted line
• Take advantage of the energy efficency tax credits – If you replace windows or doors, add insulation,  install a new roof, upgrade heating, A/C unit, water heater or install energy generating products; such as, solar panels, heat pumps or wind tubines, then you may be eligible to take advantage of the federal energy efficiency tax credits that will defer some of your remodeling costs while reducing your energy bills.

It is a great time of year to start thinking about remodeling but if you don’t want to go to all of the trouble, then give me a call and we can sell your home and find one that better suits your needs.

Kim Carpenter

Century 21 Scheetz

317-509-4000

sold@kimsellsindy.com

• 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

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

]]> http://www.kimsellsindy.com/2009-ytd-4th-qtr-december-2009-housing-market-statistics-released/feed/ 0 http://www.kimsellsindy.com/5833-n-dearborn-street/ http://www.kimsellsindy.com/5833-n-dearborn-street/#comments Wed, 20 Jan 2010 22:35:00 +0000 kim carpenter http://www.kimsellsindy.com/?p=1608 SOLD!!!

www.5833dearbornstreet.com

Welcome home to this well maintained 3BR/1.5BA ranch w/full, unfnshd , daylight bsmt.  Located on 2 nice lots, close to Broad Ripple.  You will be want to sit & relax in the comfy  GR w/cozy frplc & gleaming hardwds.  Nicely updatd kit w/newer tile,  elec cooktop, built in oven, dishwasher & refrigerator, that opens to the light & airy breakfast area w/built-in cabinets.  Enjoy breezy nites on the scrnd porch.  Newer mechanicals & an unfnshd bsmt with endless possibilities, complete the pkg