Greenwood, IN

By now we've all heard about the First Time Homebuyer Tax Credit -- I mean, who hasn't? In fact, if you're already a homeowner, you're probably a little frustrated and maybe even a tad resentful. After all, you could have used $8000 when you bought your first house!

But many experts say it's the housing market which will lead us out of the recession, so the important question is -- is the stimulus working? In Indianapolis and surrounding areas like Greenwood and Carmel, the answer is a definite "Yes". Early in the year, first time buyers were trickling into the market, but in the last 4 weeks the flood gates have opened. Recently Steve and I have experienced several instances where we've had multiple offers on properties -- we'd heard stories about this happening in "the good old days" but had never experienced it ourselves! Now this is how Real Estate was meant to be!

Just last week I was setting up several showings in the Geist area and was told that 4 of the 6 homes were no longer available because the sellers had accepted offers the day before. Yesterday I emailed a client with some potential Greenwood properties, but when she responded back the very next day, 2 of the 6 had already pended. And it's not just in the lower price ranges. Typically the first time buyer in Indiana is looking for a home under $200,000. Now that those homes are selling, we're seeing a trickle up effect. The heightened activity seems to be reaching up into the mid $300,000 range, and with fewer of those homes on the market, if a buyer sees something they like, they need to be prepared to move quickly.

So is the market truly recovering? It's too soon to tell, but it's looking good and we're hopeful. In fact, if you know of someone considering selling, let them know that there are plenty of qualified buyers out there looking for the "Perfect Place" and we would welcome the opportunity to share with them how to successfully sell in this market. And if you know someone considering buying - have them contact an experience real estate professional! Interest rates are still low, (under 6% today) the tax incentive is in effect until December 1, 2009 (properties must close by this date to qualify, so it's essential to be under contract by mid October), and there are still plenty of great homes on the market - but be prepared - the good ones disappearing quickly!

Posted: Friday, July 17, 2009 10:18 AM by Tonda & Steve Hoagland on their real estate blog at PerfectPlaceForYou.com

Are we being HOSED? You be the JUDGE.

I have to preface this by saying, I am neither a Republican nor a Democrat. There is a right way and a wrong way of watching out for "We the People". No politician was elected to watch out solely for his/her interests and special interests.

YOU are elected to watch out for US. YOU SHOULD NOT BE IN A POSITION OF POWER WITHIN OUR GOVERNMENT WITHOUT WATCHING OUT FOR OUR BEST INTERESTS, OR YOU NEED TO RESIGN NOW!!!!!!!!!!!!!!!!!

Take a look at some of these links, and feel free to share some others so we can get educated!

The Great American Bubble

Get ready America, as we are not going to remain on top if we allow all of this to continue.

America's Economy not on top anymore.

Madoff and the SEC

It is time we American's buckle down, appreciate what we do have, and FIGHT FOR IT instead of letting this Elitist SELF SERVING Club foolishly squander away our money and AMERICA.

Photo by: Playing with Hose by Charlie Lawrence, on Flickr

We are putting a seminar together for the First Time Home Buyers!

We will be answering questions that the First Time Home Buyers may have, including the questions about the Tax Credit up to $8,000. We will be hosting this seminar/meeting in Greenwood, Indiana area, if you are interested in attending please let us know. We would be happy to let you know when and where it will be held. We are in the beginning planning stages and have a few locations in mind. It is going to depend on the number of attendees...

We will be talking about the $8,000 Tax Credit, the benefits and how it is different than the Tax Credit from 2008 ($7,500).

Please let us know if you have any specific questions and we will be sure to address them. If you are unable to attend and still have a question, let us know and we will answer it for you.

Thank you and we look forward to assisting you in your Real Estate needs.

There are currently 52 Active Short Sale Listings in Greenwood IN. They range in price from $39,900 to $700,000. There are currently 4 Pending Short Sales in Greenwood. In the last year there have been 21 listings that have closed that are Greenwood IN Short Sales.

We have been involved in each of these categories, and are experienced Greenwood IN Short Sale Agents.

Picture provided by: by MyHomeSave

If you are thinking of selling your home as a short sale, ask the agent you are thinking of listing with how many short sales they have listed this year, how many Short Sales they have closed? You might not want your preforeclosure to be their first listing, or their first short sale.

Picture courtesy of FLICKR-Short Sales

If you are thinking of buying a Short Sale, you will need an experienced Short Sale Agent.

• Make sure your agent prices your offer around market value if you are truly interested in purchasing this property. If it is a "HOT" property, you run the risk of someone not lowballing and writing a much stronger offer than you. Start out a little lower, but whatever you offer, always offer what you are comfortable walking away without an accepted offer in hand, knowing that you gave it your BEST effort.
• Know that most banks in a Short Sale situation are not yet handling these offers where they would counter, most are simply rejecting the offer. There are a couple out there that have gotten savvy and up to date enough that their Short Sale department will actually volunteer where the offer needs to be for them to accept the offer.
• Banks work off of Bottom Line, what their net will be. There are fees that some of the banks will not pay, and some will pay. Some of these fees are home warranties, extreme amount of buyer closing costs, surveys, etc. Some banks will pay past due HOA fees, SOME WILL NOT.
• Make sure your agent asks if the seller has FHA financing, as there are certain criteria to follow on FHA Short Sales, specifically on how the agent will write your offer/what is allowable and what isn't.

CNBC is talking about a short pay refi as we speak right now.  They are talking with a homeowner who is on a 5 year fixed, and then adjustable rate.  He put twenty percent down within the last two years and is still upside down on his loan.

His lender quoted him that it could hurt his credit by 150 points.  His lender should not talk with him about how much it will hurt or not hurt his credit, as each person is affected differently, depending on each individual factor on his account.

This consumer could be hurt on his credit score as well as be asked by his lender to pay a promissory note for the deficiency balance, thereby possibly ending up with two loans owing for his home that he will have to pay.

CNBC

If you are considering a Short Pay Refi, educate yourself.

About the Author: The above info regarding Greenwood IN was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buing your next home? We can help you with this. I service the following areas: Greenwood IN, Indianapolis IN, Franklin IN, Whiteland IN, Mooresville IN, Martinsville IN, Avon IN, Carmel IN, Westfield IN and surrounding areas. Check more properties at no obligation: http://www.SmithFitgeraldTeam.com

Copyright © 2009 By Heather Fitzgerald-Greenwood IN Real Estate----Short Pay Refi-All Rights Reserved.