Got Too Busy Doing Things ...

to blog about doing things in Central Indiana!  What have you missed?  Santana and The Lilith Fair at Verizon Center in Noblesville, IN.  $10 lawn tickets made these concerts so affordable.  Seeing really great artists like these in an outdoor setting was beyond awesome!  Lilith Fair had The Courtyard Hounds (two of the Dixie Chicks spin-off band), Miranda Lambert (loove her!), Mary J Blige ( no one sat down the entire set!), Sarah Mclaughlin and more.
You missed the Indiana State Fair-bigger, better and more fattening thant ever!  Deep fried butter, hamburgers with doughnut buns, deep fried twinkies, snickers etc  I did not partake but many,many did!  My "have -to-have" at the fair is a Lemon Shake up and an ear of corn-so good. I also favor the home arts building-I like to look at the quilts, cross stitch & needlepoint. Hubby favors the livestock, always has to see the biggest pig and the little piglets which is fine but his "have-to-have" fair food is the pork tent which is really kind of sick, don't you think? :)
Also, saw a concert at the State Fair Grandstand for the 1st time, Little Big Town & Sugarland.  Sugarland was absolutely the best concert I've seen a long time. Music was great and they really interact with the crowd. I can't believe Labor Day is almost upon us.  Despite the dire headlines, our real estate business is keeping us busy.  Residential buyers and sellers, investors as well as commercial properties, we've got a little of everything going on right now.  Don't forget us for your real estate needs! ( had to put a little plug in there, right?! :)

Things to do in Central Indiana-Indianapolis Indians

We are fortunate to have one of the most beautiful ball parks in the country right here in Indianapolis.  If you've never been to an Indianapolis Indians game you don't know what you are missing! Situated downtown with an incredible view of the skyline, there is no better way to spend a summer evening or afternoon.  It is also one of the last family affordable professional sports options left in town.  Families can still buy admission tickets and sit on the grass beyond the outfield and bring their own refreshments, which is a huge $$$ saver!  It's also great for the little ones because they can jump up and run around a little rather than having to sit still for a whole game. The Indians are the triple A farm team for the Pittsburgh Pirates, currently ranked 2nd in the INT West with 48 wins.
Tickets range from $9 for lawn, $10 for reserved, $14 for box with kids a dollar less for each.  Or kids can join the Knot Hole league for just $15 and get a ticket to all games plus a t-shirt  opportunities for all kinds of prizes-they can upgrade to a box seat for any game for only $4.
We were invited to a suite recently (Thanks, Bill & Beckie), and experienced a great game, awesome sunset and never get tired of the views!

Here is a link to their website for more info:Indianapolis Indians

Things to do in Central Indiana- Art Museum Pt 3

Ok, we've covered the grounds of the IMA which are wonderful and a destination in and of themselves but of course, the museum itself it the main draw. Admission, parking and Wi-Fi are all free! What an incredible value! The permanant collections include Indiana artists such as TC Steele. There are always new visiting collections and special events.
The museum also hosts movies under the stars during the summer:
http://www.imamuseum.org/programs/films

Plan a visit, you will not be sorry!

Please note: the museum is closed on Monday.

Things to do in Central Indiana- Art Museum Pt 2

The Virginia B Fairbanks Art & Nature Park is opening soon (June 20th-Grand Opening). This 100 acre park is adjacent to the museum grounds, it has wetlands, woods, and a 35 acre lake. It will feature art installations and exhibitions in a family friendly enviorment. We were back there hiking around the lake last fall and saw the beginnings of the park forming. It should be awesome and free, a perfect way to spend a day.

http://www.imamuseum.org/special-event/100-acres-grand-opening

Things to do in Central Indiana-Indianapolis Art Museum

There is so much to see and do at the Art Museum , I'm going to split it up on several posts. Today let's concentrate on the grounds & gardens. They are incredible and FREE! You can go in walk, picnic, etc . They have guided garden walks which are really informative-they tell you about the creation of the gardens by the original owners of what was called "Oldfields", Hugh & Jessie Walker Landon. Later the estate was sold to the Lilly family who eventually deeded it to the city for use as a museum. You can tour Oldfields too. We went at Christmas when they had it decorated for the holidays and they had luminaries in the gardens-so beautiful!

Here is a link to information on the gardens:

http://www.imamuseum.org/gardens-grounds

Things to do in Central Indiana-Holiday Park

I just recently rediscovered this park (thanks to my wonderful husband) and it is such a great park. Holiday Park is located at 64th and Springmill on the north side of Indy. It has a Nature/Resource Center with a small outdoor amphitheatre where free concerts are held during the summer. A fabulous playground for kids with a rock climbing wall, 10-20' slides as well as a "spiderweb" to climb. A picnic area is located adjacent to the playground making it a perfect place for family get-togethers. We just made use of it on Memorial day weekend and everyone enjoyed it. There were trees for shade, plenty of picnic tables and all the kids loved the play ground but to us the best part of the park are the trails. There are 3.5 miles of trails that run right along the White River. We've been a couple of times now with our dog, Mac and we've all loved it. It is beautiful, shady, there are little areas where the river comes in that you can wade in if you feel like cooling off (Mac's favorite thing!) They have some cool classes during the summer too. My husband is hoping to do the fly fishing class. Check out Holiday Park, I think you'll really like it!

http://www.hollidaypark.org/about-hp.html

Things to do in Central Indiana-St Simon Festival

If you have never attended the St. Simon Festival on the far NE side of Indy, this is your chance. It starts tonight and goes through Saturday night. There are rides, carnival games, elephant ears, corn dogs and other "fair" food for the kids and games of chance, adult beverages (beer & wine) for the adults. Free music all three nights. The band tonight is Loo Abbey from 9-11 pm and Flying Toasters, Friday and Saturday nights from 9-12. They are a great band, lots of fun. I've attached a link to the info page. Hope to see you there!
http://www.saintsimon.org/festival10.html

Things to do in Central Indiana-Canal Walk

I'm going to start posting some of the great (and inexpensive, if not free) things to do in Indianapolis and surrounding areas. It amazes me how much fun you can have if you just get out and explore! So today's is walking or biking around the canal downtown. Near Military Park and the IUPUI campus, the canal is part of the White River State Park. Walking along the canal you will come to the Indiana State Museum with the steam clock playing "Back Home Again in Indiana" every 1/2 an hour and across from the museum is the Congressional Medal of Honor Memorial. The canal is scenic and a great place to people watch. In the summer, there are gondolas and paddle boats for rent and bicycles and buggy's. I talked to a lady visiting Indy last summer and she commented on how great the canal was, she wished her city had something like it, yet I talk to people who have lived here for years and never walked around it! Go check it out and let me know what you think. Here's some video of the clock: http://www.youtube.com/watch?v=TCUo2iWZ7Zc

Historic Home w/ Modern Updates!

Sellers kept the best-original hardwoods, built-ins, arts and crafts style doors but everything else is new and modern! Drywall, windows, roof, electrical, plumbing, water heater, HVAC-all updated. Three bedrooms-two with private baths plus hall bath. All baths have new fixtures, tile etc. Beautiful kitchen with new tile, cabinets, granite counter tops, & appliances. Den has original fireplace with lovely mantle (FP is non-working). Sun room off living room. Family room/Dining room off kitchen for easy entertaining. Large mudroom with utility sink. Washer/Dryer located upstairs near bedrooms for your convenience. Nice sized back yard and great front porch for outdoor enjoyment. Security system too. Close to downtown and interstate access. Check out the virtual tour at:

http://www.listingsmagic.com/18034

Call for a showing-317-513-0141.

Yeah! Tax credit extended to Existing Home Owners!

From the Associated Press:
"Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.
First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes. The Senate approved the measure Wednesday, and the White House said President Barack Obama would sign it Friday.
Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30."

This is great news for Buyers who weren't quite prepared to buy and excellent news for sellers who have been wishing for a little something to make moving a little easier! If you are thinking of selling, now is the time to get it on the market..there will be more buyers out there and you can benefit with the $6500 ! Call me today for a free market analysis at 317-513-0141.

I was watching "Morning Joe" on MSNBC today when they reported the latest Case Schiller numbers and they were positive! After 3 years of declines, a couple of months of upward activity may show that we are finally on the road to recovery. I have always been a news junkie but I have to admit over the past year, I have been tuning out. The doom and gloom from the media made it hard to be positive in my daily life and negativity when you are working with the public is the kiss of death! If you read "The Secret", you have to believe most of us have been telling the universe to pile on the bad stuff! When the key is to think positive and believe that good things are in your future...that is pretty hard to do and listen to the talking heads on TV. It seems like every stimulus program that gets rolled out, every positive report they cover, immediately they start tearing it apart and warning us not to think things might be getting better.
I'm not a "Pollyanna" type person with my head in the sand about the problems we have been facing but at the same time I don't think anyone benefits from being "Chicken Little" either, running around screaming "The sky is falling!" Come to think of it, the media is a little like the guy that shouts FIRE! in a crowded theater, creating panic and confusion.
At any rate, I am choosing to feel good that housing prices are showing an increase! Owning your own home is still the American Dream for most of us and I love being a part of an industry that works hard everyday to make that dream a reality!

Here is a link to the complete article on CNBC's website.
http://www.cnbc.com/id/32550485

Indy Most Affordable Major Housing Market-Again!

Indianapolis, once again, was the most affordable major housing market in the country during the second quarter. Almost 95 percent of all homes sold were affordable to households earning the area’s median family income of $68,100. Indianapolis has now topped the affordability list 16 consecutive quarters.
This is according to the National Association of Homebuilders.

The most affordable market in the country plus the $8000 tax credit make buying a home a smart decision. Are you aware you can purchase HUD foreclosures in Indiana for $100.00 down? Or that if you would like to own a brand new home, many builders have drastically slashed their prices on their market ready homes in order to meet their end of the fiscal year goals?
As it stands now the $8000 tax credit program will end December 1, 2009. this means you must close by November 30th in order to qualify. If you have considered buying a home, please don't let this opportunity pass you by! Ask yourself, "how long would it take me to save $8000?" or "how long would it take me to pay down the equity on a home by $8000?"
Please call or email me today if you have any questions or would like to start looking for a home!
317-513-0141 or stacey@HRrealtygroup.com

Or you can start your search on our website:
http://tinyurl.com/HRrealty-Search

Affordable Housing Exists, If You Know Where to Look - BusinessWeek

Affordable Housing Exists, If You Know Where to Look - BusinessWeek: "BusinessWeek.com used the index to rank the 10 most affordable and 10 least affordable major metros based on incomes and home prices. Indianapolis was the most affordable—91.6% of homes sold in the second quarter could be afforded by median-income households."

Distressed Properties

There has been so much in the news about foreclosed properties and I received a good question about how purchasing them worked which I answered in another post but I thought it might be good having it in the main blog area. So if you already read this I apologize! One thing I wanted to add was that surprisingly some of the foreclosed homes out there are not only good deals, they are also in surprisingly good shape. I've seen homes in move-in condition as well as some that just need carpet & paint and were 20-30K below list price.
"Bank owned homes – you make an offer on the property just like any other home but it may take longer to get them to respond to the offer. You can make the offer whatever you wish, it does not have to be list price and they may or may not accept it, may or may not counter the offer. Generally, they will not participate in any type of seller financing, zero down programs and they will not pay closing costs. These properties are also sold “as is” and the banks usually are not willing to make any repairs. However, if a major issue shows up on inspection that would make it difficult for them to sell it to any buyer, they may be more flexible. If not, you can back out of the deal and usually get your earnest money back. Many of the bank owned, distressed homes out there are in surprisingly good shape and need little work.
HUD homes are also a good value in many cases, they are usually listed on your local MLS and you bid on them through a HUD approved broker. (Home Run Realty is a HUD approved broker BTW!) They give 1st dibs to consumers wanting a home vs. investors. In the central Indiana area, HUD is currently offering a $100 down payment program to any owner occupied buyers. This is an awesome deal!
If you qualify for an FHA loan, the down payment has to be a minimum of 3% of sales price (3.5% beginning Oct. 1st, 2008). FHA is generally the best way to go for a 1st time home buyer or anyone without a long and stellar credit history as they are a little more flexible on qualifying guidelines.
Closing costs will vary depending upon the area you are in and the type of loan program you get. A lender will need to provide you with a good faith estimate so you can get a good idea of the expenses there.
Zero down programs are still available until Oct. 1st. Some lenders are saying you must be under contract and approved for the loan by October 1st, others are saying the transaction must be closed by Oct. 1st. That is why there is no time to delay in talking to a lender and looking at properties if you have decent credit but no down payment money saved up!
Short sales can be the most difficult transactions for buyers. Banks will tell sellers they will do a short sale with them and to market the home but then not actually be looking at offers for months. Currently, I have a short sale listing where the offer has been in since July 1st and the bank has not responded to the offer. We have called, emailed, left messages and even in rare instances talked to live human beings but have not been able to get them to even give us a timeline. If you make an offer on a short sale, have a firm idea of your timeframe, how long you are willing to wait before you move on to another property.
If you live in the Central Indiana area, The Home Run Realty Team is ready to help you through the buying maze and remember for BUYERS, our services are FREE. If you do not live in our area, call us and we will still help you find a good agent in your area! You can reach us at 1-866-HOMERUN (866-466-3786) X240.

Can't wait for November!

44% of Americans surveyed by Harris Interactive believe the housing market will improve after the presidential election. The survey also showed a strong indication that there are a lot of buyers out there that have delayed their home purchase but plan to make a move within the next 12-24 months.
Of course, this means that buyers who wait will be competing with everyone else and the market will flip to a seller's market. If you have a stable job and owning a home is in your plans. Don't delay, you will be able to build equity faster if you buy on the low end of the scale rather than wait for the market to go back up. We have had less of a price decline in the Central Indiana area than many other areas because we did not have the huge price run-ups that they had but there are plenty of homes currently on the market with motivated sellers because it has been so stagnant.

Communication dilemma...

I've been busy the past couple of weeks sending out emails and calling everyone who has contacted us the past year or so about buying a home to make them aware of the recent changes in the housing market. Many of our clients in the past 10 years have used the Nehemiah program and otters like it to help them into a home. These down payment assistance programs have been cancelled by the new housing bill effective October 1st. At this point, we don't know if this means the transaction has to close by Oct. 1st or if it is in process by that date that will suffice. So if someone has decent credit (doesn't have to be perfect!) but no downpayment money saved, this may be their only opportunity for quite a while to buy a home. Add to this that it is still a buyer's market,with plenty of homes to choose from and low interest rates-there may not be a better time for many people to get into a home of their own.
Anyway, I hope my emails are not annoying people, I have no desire to SPAM anyone. I know many times when I receive an email I may not read it or I may delete it and then realize I need the info it contains. There is such a short window of time for people to act on this, I think it is important enough to be a little bit of a pest.

"Perfect Storm" for Buyers

The new Housing bill signed into law this week has created a short window of time for buyers to take advantage of a couple of important programs. The Housing bill will take away one of the most important tools buyers have had to get into a home-the down payment assistance programs. Non-profits like Nehemiah, Neighborhood Gold etc have enabled many people who would not have been able to purchase a home to buy a home (and no, most of them DID NOT DEFAULT!). The housing bill removes the down-payment assistance programs for FHA loans as of Oct. 1st, 2008. We don't know yet if that means you have to close by Oct. 1st or be pre-approve, under contract etc. They are also planning to raise the minimum down payment from 3% to 3.5%.
A big positive that came out of the bill is a $7500 tax credit for 1st time buyers or people who have not purchased a home in the last 3 years. This is good on homes closed between April 9, 2008-July 1st, 2009. This could mean if you are due a tax refund of $1000 at the end of the year, with this credit you would get $8500!
So between now and Oct. 1st, buyers can still take advantage of the down payment assistance and get the $7500 tax credit. Add to this the low interest rates, and the high inventory of homes for sale, you get a perfect storm situation for Buyers! If you have been considering purchasing a home, do not delay. You need to call your Realtor today to see about getting pre-approved and to start the home search process. Oct. 1st will be here before we know it. If you are not working with a Realtor, call us at 866-Home Run (866-466-3786) and we would be happy to help.

Welcome to My Relocation Clients

I just had the privilege of working with two wonderful families moving into Indiana. One camefrom California and one from Massachusetts. It is always a pleasure working with nice people but there is a special joy in sharing the city and state you love with newcomers!
Indianapolis is the most affordable housing market in the country which makes us a draw for families interested in more living space for their money but I think we also offer a great quallity of life. There is plenty to do, the city is easy to navigate and the natives are very friendly!

Downtown Indy Pics

These are some pictures I took a couple of weeks ago after attending a seminar at the Etiljorg Museum. Downtown Indianapolis offers so many great views. I am admittedly a rank amatuer when it comes to photography but I'm going to try to keep taking pics and posting them. If you have never been to Indianapolis, maybe you will see something that will inspire a visit! (or even a move!)

Locality

There is a saying in real estate that all markets are local. This is brought home to me frequently these days as we deal with the unrelenting media coverage of the "housing crisis" and all other things dire. I am working with a great couple that were interested in buying a ranch home on the NW side of Indianapolis. We looked at acoupld the first day we went out, and while both were nice, one of the homes had an outstandingly landscaped back yard. My clients wanted to digest what they had seen and meet with their lender again before making any decisions.We talked and I told them that since the home showed really well, I didn't think it would stay on the market long but since the media has drilled it into everyones that it is a "buyer's market" and nothing is selling, I think my clients thought I was exaggerating. We called a couple of days later to schedule a second showing and surprise, the home was under contract. We scheduled showings on six more homes a couple of days later and made an offer on one. It got two other offers the same weekend! We made an offer on their next choice and they got it, for 97% of list.
There are many great properties available now and there are motivated sellers as well as REO and distressed properties but buyers should be aware that depending on the neighborhood and the condition of the home, they are selling.