About Johnson County, IN

Have ya ever noticed that it's always the bad news that seems to get all the press?

Our favorite shows are only interrupted with "Breaking News" that would alarm or scare the viewers..."A gunman is loose"..."An apartment building is on fire"..."A child has been kidnapped"...

Yes, these are all important stories, but isn't good news ever considered to be just as important?

My point is that right now, all of the media networks seem to be having a hey day reporting the bad, bad real estate market. "Foreclosures are on the rise"..."Families are losing their homes"..."Mortgage companies are going under"...

True, true and true.

But what about the buyers out there that are being able to move up to a new standard of living, simply because today's home values, combined with outstanding interest rates are allowing them to do so?

What about the people that never before would have considered keeping their existing home as a rental property, but that are now increasing their net worth and allowing someone else to make one of their house payments for them?

These aren't the stories that seem to be making the headlines.

And of course, how can we forget the current incentives for first time homebuyers? I wish someone would have given me an $8,000 credit when I bought my first home! Do the newscasters ever break in to tell us another first time home buyer just got $8 grand direct deposited into their checking account?

I don't think so!

What worries me the most about this is all of the people that cling to the nightly news to try and stay current with the local real estate market.

The local media is NOT current with the local real estate market. They never are!

By the time the media is telling you the market is better, it will mean the market has been better for quite a while already. Then people will frantically run out and try to buy something because the media has made them feel "safe" to do so, but by then it will be too late.

The best deals will be gone because the savvy buyers were out grabbing them left and right while everyone else trembled on their couches...wondering if things would ever get better.

Remember what Warren Buffett said..."Be greedy when others are fearful and fearful when others are greedy!"

Like what you're reading? You might also enjoy:

http://ishopgreenwood.com/2008/10/17/be-greedy-when-others-are-fearful-and-fearful-when-others-are-greedy/

http://ishopgreenwood.com/2008/12/11/can-you-touch-bottom/

If you live in Indiana and are having difficulty making your payments, yet want to remain in your home, there may be help available under the Obama Administration's Make Homes Affordable program. Visit the Indiana Foreclosure Prevention Network website to see if you qualify for programs to modify your loan, therefore lowering your monthly payments.

If you're currently behind in your payments, or struggling to make your payments and are unable to remain in your home even with a lower payment, a Short Sale or Deed in Lieu may be a viable option.

Short Sale: When the sales price of a home will be less than the current mortgage balance the lender may be willing to work wth the owner on a Short Sale. For instance, a property is worth $200,000, but the homeowners owe $220,000 due to decreasing property values. With the bank's approval, the homeowner may sell the property for $200,000 and often the bank will write off the $20,000 loss and not seek repayment for the deficit . Why would they do this? Banks are not in the business of selling homes. It costs tens of thousands of dollars for a bank to foreclose on a property and then re-sell it. It is often a good business decision for them to accept less from a short sale than to go through with a lengthy and costly foreclosure. For the homeowner, they can usually remain in the property through out the sale and avoid the embarrassment of foreclosure. There may also be credit report advantages to a short sale over a foreclosure.

Deed in Lieu: A homeowner can no longer afford their home and they sign it over to the bank in lieu of making any further payments prior to it reaching foreclosure. As with a short sale, this is usually less devastating to homeowner's credit status , but many banks don't want to participate. They don't want to own homes. Therefore they are often more willing to work with a homeowner on a short sale.

In both of the above cases the bank will require the homeowner to be in communication with them and provide documentation which explains their current financial situation and why they can no longer afford the property. This is often called a "hardship letter". In addition they will request other financial documentation such as bank and investment statements, Income Tax records, paystubs, medical bills, etc

Short sales are lengthy and complicated, so be sure to hire a real estate professional who has prior experience listing short sale properties and working with the banks. It is also recommended that you contact a tax attorney for advise on the legal and tax implications. The Hoagland Team has successfully sold short sale properties as well as represented buyers purchasing short sale homes in the Indianapolis and surrounding communities like Greenwood. Contact us if you have questions or would like more details. Additional resources are available on our website.

Posted: Monday, March 16, 2009 1:00 PM by Tonda & Steve Hoagland

As residents of Greenwood, Indiana, we know it's a great place to live and work. Still, it's nice to see what we already know validated in a national survey of business executives.

For the second year in a row, Indiana takes the number one spot in the Midwest as the best place to do business by "Chief Executive" magazine. Each year the publication surveys over 500 chief executive officers on a broad range of issues and uses those findings to compile a list of the best and worst states for jobs and business growth.

Indiana ranked 11th in the Nation overall, 3rd in business friendliness, 4th in transportation and 6th in cost of business. This combined with our ranking as the most affordable place to live in another national survey promotes confidence that hoosiers are on the right track! For the full report, visit http://www.chiefexecutive.net/ME2/Default.asp.

Posted: Monday, March 16, 2009 10:05 AM by Tonda & Steve Hoagland

Although today is a little bit on the chilly side again, wasn't it wonderful to have a glimpse of 70+ degree weather earlier this week? That means that spring is right around the corner! Here are some helpful tips from Jim Schwarz at Center Grove Real Estate Inspections to get your home ready for the change of season.

• Clean gutters and ensure downspouts and yard drains can drain runoff freely. This can be done by running a hose into the gutter and watching how the water flows. Runoff should terminate at least five feet from the foundation of the home.
• Remove sticks and debris from the roof. Walk the roof to review it for any damage or potential repairs. Pay particular attention to cracks in masonry chimneys and around any roof jack penetrations. If you are unsure of these efforts, consider the use of a home inspector to perform the work.
• Review the exterior of the home to find gaps or cracks related to age or winter activity. Seal any gaps to prevent moisture intrusion into the home. It is important to understand that moisture intrusion is the greatest enemy of a home.
• Look at any tree branches or shrubbery that will potentially touch the roof or siding of the home. Trim any branches that will cause harm to the home. It is important to recognize that too much shade on a roof will harbor dampness within the shingles and cause premature failure. A roof should have adequate air movement and as much sunlight as possible.
• Check the functionality of the air conditioner after the outside temperature reaches 65F. It is a good idea to have the unit serviced early in the season if it does not produce cold air of about 58F. Change the furnace filters routinely. The evaporator coil within the furnace unit can become dirty and reduce the efficiency of the unit. This area is typically serviced by an HVAC professional.
• Consider rinsing the outside condenser unit to remove dirt and increase efficiency of the unit. This should be done by safely removing the disconnect spade near the unit and rinsing the unit from the inside-out. Once clean, reinstall the disconnect spade for operation. Ensure that the large refrigerant line is completely insulated to prevent cooling loss from the line. This line stays cold during air conditioner use.
• Caulk all driveway and sidewalk cracks with a self-leveling driveway caulk. Clean the expansion joints and caulk these, as well. This will prevent moisture intrusion under the slab which eventually causes the slab to crack. If you see settlement of the slab, look at any downspouts that may be nearby that could potentially allow water to get under the slab.
• Consider this time of year to add insulation to the attic. Current tax incentives are available to help offset the cost of this effort.
• Summertime sunshine brings a lot of heat into our homes through the windows. Consider the installation of UV blocking window films to reduce this heat development. These films have greatly improved in recent years and are very easy to install yourself. Certain products also qualify for current tax incentives.

These tips should help your home to become worry-free so you can enjoy other things this summer.

Thanks Jim - This was great advice!

Did you find this information helpful? You might also enjoy:

http://ishopgreenwood.com/2008/12/04/stopping-energy-loss/ and

http://ishopgreenwood.com/2008/11/07/what-are-the-dark-streaks-on-my-roof/

This information was originally published at: http://ishopgreenwood.com/2009/03/14/spring-home-maintenance-tips-in-greenwood/

It's a tough market these days. But occasionally something happens that reminds us why we decided to do this in the first place.

Last week someone called wanting to see one of our listings as soon as possible. We hurried to set up the appointment, not wanting to pass up any business, yet knowing all the while that this could be another wild goose chase. As we chatted while showing them the home, we discovered they had put money down to build a home and unfortunately, that builder had declared itself insolvent that very day. They were devastated. Our new client, a first time homebuyer, was someone who really wanted a new home and their plan had come undone!

They were frustrated with builders and wanted to buy an existing home that weekend. So we spent Friday evening and most of Saturday showing them additional homes that might work. We answered tons of questions and offered advice, not just on homes - but also on property taxes, resale, hints for negotiating, making offers, and the entire home buying process. They were already pre-approved and felt confident in the price range they had already established with the builder, yet when they found a home they loved and we took the time to counsel them on the affect property taxes would have on their monthly payments they had some real concerns over the monthly payments. We soon discovered that the builder they had been working with hadn't taken the time to explain how Indiana property taxes work. Upon further review they agreed that it would have stretched their finances very thin. We could have easily written the offer and made the sale. But we wanted to do the "right" thing for our clients.

On Sunday we recommended they look at a brand new Ryland spec home in the Greenwood neighborhood of Brookhaven, where resale is excellent and taxes happen to be lower. Like many buyers they were surprised to find that we work hand in hand with builders -- helping them evaluate options and select a builder that will not only provide an excellent home, in an area with great resale, but also take wonderful care of them from beginning to end.

In this case, the spec home was just what they were looking for and the monthly payments were "just right" too! They got the brand new home they were looking for without having to wait for one to be built! We met them on Monday to go over the final paperwork. They were smiling from ear-to-ear! In two short days they had gone from a devastated "what now" to a very happy place - smiling as their picture was taken next to the SOLD sign in front of their brand new home.

Sometimes in the big scheme of life I wonder, are we really making a difference? I mean, we work crazy hours, rush from appointment to appointment, never seem to have a day off, yet their excitement and the smiles on their faces was priceless - and it made us remember why we love our jobs!

Posted: Wednesday, March 11, 2009 3:15 PM by Tonda & Steve Hoagland www.PerfectPlaceforYou.com