Greenwood, IN

It is true...the government is giving away money - but only to what they consider first time home buyers. The qualifications are really pretty clear. Here's the skinny: 1.) You have to be a first timer home buyer. What is a first time home buyer (you would think it's pretty self explanatory...but it's NOT!!!) A first time home buyer in the government's eyes is someone who HAS NOT owned principal residence in the past 3 years or a home at all. That means you could've owned a in the past, own a vacation home, own a rental home as long as the home you lived in the past does not have you as a title bearing owner in the past 3 years. 2.) It's technically not $8,000 they are giving you....it's UP TO $8,000 you can earn. Let me explain... They will pay you 10% of the purchase price up to $8,000. Therefore, to recieve the maximum benefit from this program you have to purchase a home for at least $80,000. If you purchase a home for $60,000 then you would only get $6,000 - not the advertised $8,000. (Don't get me wrong...it's still free money!!!) 3.) There is a time limit to cash in.... this year only. The dates that you have to purchase a home are from: January 1st, 2009 - December 1st, 2009 (not the 31st). 4.) There are income limits also (of course). The limits are $75,000 for an individual and $150,000 for a family. The income is "adjusted income" so they do take into account expenses - it's basically your taxable income they are looking at here. If you are above those limits you can still qualify for the rebate, but it will be reduced...if you want additional info just give me a call and we can discuss what you are looking at. 5.) Stay home. You have to live in the home you received the credit/rebate on for a minimum of 3 years. (which isn't a long time...my daughter was only 3 years old at the end of a 3 year time period.) If you don't they can take the money back (they call it a recapture clause). Extenuating circumstances do apply and there could be execptions to the recapture such as death of a spouse, etc. That's it! If you have any additional questions about the program just post them below and I will respond. This way anything I may not have explained clearly others can capitalize on the answers as well. Please remember to send me those referrals! Any of your family members or anyone you work with...send them my way ;-)

Finally! An easy way to find all of Greenwood's Foreclosure, Bank Owned, HUD Owned, VA, Distressed Sale and Short Sale properties all in one easy to find spot.

As of the time of this writing, these 79 Foreclosures (or possible Short Sales) that are currently listed in Greenwood range in price from $680,000 all the way down to only $24,800....amazing!!!

This is an even better and easier way to search for these types of properties than on our Multiple Listing Service or through the Metropolitan Indianapolis Board of Realtors. I'm not even sure that Realtor.com has a searching tool that's this easy.

This is so awesome and we've just added it to our website to make it easy for you to search for Greenwood Foreclosure Homes, too. Check it out and let us know what you think!

This information was originally published at: http://ishopgreenwood.com/2009/02/26/79-greenwood-foreclosures-or-possible-short-sales/

The Academy Awards are tonight. Have you had the opportunity to see the nominated movies? If you're anything like us, you meant to go, but busy schedules and the cost of an evening out may have kept you from making it.

Well, if you can free up time on your schedule, we can pass along some savings! Have you heard about the Kerasote Theaters Five Buck Club? A friend recently told us about this great savings and we want to pass it along to you! We just signed up and are excitedly awaiting our membership card and planning which movie we want to see first!

So what exactly is the Five Buck Club and who can join? Well, once a movie has been out for 2 weeks, sometimes a little longer, you can use your Five Buck Club card and get in anytime, for you guessed it, Five Bucks! No more hurrying to try to make the matinee showings!

Signing up is easy, just go to the Kerasote website, click on the Five Bucks Club, provide your contact information and they'll mail your Five Buck discount card. Currently, four Kerasote Showplace theaters in Indianapolis are participating. Illinois, Ohio, Colorado, California, Iowa, Minnesota, Missouri and Wisconsin also have participating locations. Visit their website to see if there is a theater near you!

Maybe next year we'll have actually seen the movies and know who to cheer for!

One of the best 100% loans still around is the Veterans Administration loan. Also known as the VA Loan, this loan program is specifically for persons that have served in the military. Over the years, we have helped many homeowners use the VA Loan to purchase their Greenwood IN homes.

When using the VA Loan to purchase your Greenwood IN home, Veterans (or active duty service people who have served enough years to earn their eligibility) can borrow more than 100% of the sales price of the home.

Here's how it works: When you use the VA Loan to purchase your Greenwood IN home, you're going to pay a VA Funding Fee. This VA Funding Fee is normally about 1.25% - 3.3% of the loan amount (this amount is going to vary somewhat depending on whether you have been full-time military or reservist and whether you have used your VA eligibility before).

This funding fee then gets added onto your loan amount and if you are entering the home with no money down your loan amount is 100% of the sale price of the home. Add the VA Funding Fee to this amount and that is how VA is able to finance more than 100% of the sale price of the home. It's quite possible that Disabled American Veterans may be exempt from paying this Funding Fee, so be sure to check on that if you are a DAV.

Another huge advantage of using the VA Loan to purchase your Greenwood IN home, besides not needing a down payment, is the fact that these loans have no monthly mortgage insurance! That's always good news and another way to keep your monthly house payment down.

If you're thinking about using the VA Loan to purchase your new Greenwood IN home, be sure you have your VA Eligibility Certificate handy. Not sure where yours is? Click Here to obtain it. You definitely don't want this to be a last minute hang up when you've found your Greenwood IN dream home.

Rates for using a VA Loan to purchase your Greenwood IN home are very competitive and qualification is not difficult. But it will be important for you to talk with a local Greenwood IN Mortgage Lender so you know what the VA Loan Limits are for your particular area.

The bottom line is, if you've served in the military, be sure to ask about using the VA Loan to purchase your Greenwood IN home. And most importantly, thanks for serving our country. We appreciate all you do.

By the way, this information was provided for us by Jody Bleier at Stonegate Mortgage. If you're wanting a quick response and excellent service, contact Jody NOW at: 317.213.1387 Also . . . be sure to ask Jody about using the VA Loan to refinance your current mortgage, as well!

If you found this information helpful, you might also enjoy

http://ishopgreenwood.com/2008/12/19/more-specifics-on-the-fha-203k-loan/

http://ishopgreenwood.com/2008/12/13/is-it-really-possible-to-roll-rehab-money-into-my-mortgage/

http://ishopgreenwood.com/2008/12/03/i-have-no-down-paymentcan-i-still-buy-a-home/

This information was originally published at:

http://ishopgreenwood.com/2009/02/13/using-the-va-loan-for-your-greenwood-in-home/

Wow! I just discovered a really easy way to keep up with the Average and Median Home Prices in Greenwood and Johnson County.

Simply go to http://ishopgreenwood.com/home-search/ scroll over the map and it's all right there.

But, if you simply can't wait that long and must absolutely know right now what they are...here you go...

Greenwood

• Total Listings: 892
• Average Price: $216,388
• Median Price: $169,900

New Whiteland

• Total Listings: 54
• Average Price: $99,604
• Median Price: $95,000

Whiteland

• Total Listings: 77
• Average Price: $192,698
• Median Price: $159,900

Bargersville

• Total Listings: 136
• Average Price: $484,812
• Median Price: $334,900

Franklin

• Total Listings: 392
• Average Price: $158,580
• Median Price: $124,777

If you like this kind of stuff, you might also like:

http://ishopgreenwood.com/2008/12/09/less-talk-more-pics/ or

http://ishopgreenwood.com/2008/10/17/this-weeks-best-buys/

Want more specifics on what your home would most likely sell for in today's market? Send me a note...let's talk!

This information was originally published at:

http://ishopgreenwood.com/2009/02/08/current-home-prices-greenwood-johnson-cty/