Danville, IN

Beautiful four bedroom, three bathroom home in the heart of Danville, Indiana. Walking distance from historic town square, library, county museum, Mayberry Cafe, movie theatre, and shopping. Spacious rooms with 10 foot ceilings, large eat-in kitchen, mud room, side porch, pocket doors, finished attic. Recent updates include new kitchen appliances, washer and dryer, refinished hardwood floors, roofing, and plumbing. This is a quaint, small town, but just 20 minutes away from Indianapolis. To directly access this property, use this shortcut: http://www.fizber.com/indiana-buy-single-family-home-12881943.html

Here we go again...another rant about the appraisers. This has all happened to me during the month of October & Novermber within the Danville, IN market! I can't figure this out:

• sell a house and it appraises for $6,000 more?
• sell a bank owned property and it appraises for $20,000 more?

Then...get a house under contract for a fair price and it appraises for $30,000 under sales price?? What's up with that Mrs Appraiser. Didn't realize that you had that kind of power to shift our market values like that?

Unfortunately the appraiser has justified her price because the investor purchased the property at a Sheriff Sale (at a low price) and she is using that price plus updates. Should the investor be punished because he purchased the home at a highly distressed price for cash? If the home didn't sell at the Sheriff Sale it would have come back on the market for approximately $110,000 +/- as a bank owned property. Instead, he purchased it "as - is"; totally renovated it with new kitchen, floor coverings, roof, etc. The home is a ranch with a walk-out basement and the appraiser used ranch homes with no basement. How do you give a finished walk-out basement a $5,000 value?

Well apparently an Appraiser can!

You may ask yourself, why don't you provide comps for the appraiser...been there, done that! So now our options are what...another appraisal? Switch lenders? Any suggestions?

After a long and anticipated wait, the Hendricks County real estate tax bills are finally getting sent out...however, better check those bills for any changes. Many clients are calling our office and asking what their rights are with the revised Hendricks County tax bills. Below is a list of items to check:

1) Assessed Value. This value is suppose to be based on "Market Value". If you live in a neighborhood where there are many foreclosures and they have raised your assessed value. Then you will probably need to file an appeal.

2) Exemptions: If the property is your primary residence and you have a mortgage on it, then you have the right to file a Mortgage and a Homestead Exemption.

3) Additional Exemptions: Other exemptions for Hendricks County include over 65, blindness and disability, etc. Contact the Hendricks County Auditor to check eligibility for other exemptions.

Not having any exceptions filed could be paying up to two times the amount for your Hendricks County Taxes.

These changes in taxes are going to create many problems within the Hendricks County community because of the following reasons:

• Many bills have increased tremendously and they are due on September 10th for Spring and then the fall bills will be due on November 10th. Approximately 61 days after the first round of taxes are due.
• If you have your real estate taxes paid thru your mortgage payment - check your escrow balances verses the amount of your tax statement. Lenders could change your mortgage payment based on the increase in your real estate taxes.

Here is the website for Hendricks County, to check on the taxes you need to click on "Data Warehouse Lookup":http://www.co.hendricks.in.us/

One of the hardest hit people with the new taxes are the investors. My husband & I own a few rental properties in Danville and Hadley Indiana and our taxes will have a tremendous effect on our rental properties.

Thank you for taking the time to read my blog. This is the first post and I wanted to share some information about what is happening in the Danville Indiana real estate market. With all of the financial situations going on throughout the Country, we continue to have properties selling.

Listed blow is the Danville market (this includes Center and Marion Townships) for June 2009.

• June 2009 : 14 Residential Properties

• Average Sales Price : $148,271

• Average Days on Market: 66 Days

My office, Lane Realty Group, was involved with 3 closings and 1 listing was a list/sell within our office.

Information provided from Indianapolis Metropolitian Board of Realtors.