The Islands, Washington Township - The single story at 3263 Eddy Court has been sold.
This home had multiple offers and an accepted agreement within a week. The Market is seeing a lot of activity and nice properties are selling quickly. Contact us for more details!
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Meadow Bend, Indianapolis - Announcing a price reduction on 8103 Stoney Bend Circle, a 3,144 sq. ft., 3 bath, 4 bdrm 2 story. Now 
MLS® $213,900 - Beautiful Home!.
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Center Grove, Greenwood - 1238 N Morgantown Road, a 2,856 sq. ft., 2 bath, 4 bdrm single story "Traditional 1950's Ranch". MLS® $134,900 - Charm & Character.
Looking for a home with character? This charming 1950’s ranch has been lovingly maintained & is ready for your family. There are original hardwood floors in 3 bdrms & under the carpet in the Living/Dining room, which also features 2 huge windows which flood the room with light, plus a cozy woodburning Fireplace for those chilly fall evenings. The spacious Kitchen was remodeled & new HVAC system installed in 2000. New upgraded dimensional shingles & exterior paint completed in 2007.
You'll enjoy relaxing on the cheery breezeway recently updated with new ceramic tile. What a great place for your morning coffee or to keep an eye on the kids in the yard.
The always dry full basement is versatile square footage with a large area finished for additional living space, plus unfinished rooms for storage, hobby or workshop needs. It also has a handy walk out.
Great location. Only 15 minutes to downtown & 5 minutes from the Greenwood Mall. Popular Center Grove Schools too! Home also available w/additional .43 lot for total sales price of $149,900
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It's true. Most HUD Foreclosure properties are currently available for purchase with only a $100 down payment if financed with an FHA loan. So, what is a HUD Foreclosure and how do you buy one?
They are foreclosed properties insured by the US Department of Housing and Urban Development which are sold through an online bid process. They are put on the market for an initial 10 day bid period where only "owner occupants" can place bids. They are listed on Fridays with bids accepted for the next 10 days. The winner is announced on the following Monday. If no one bids, or there are no bids acceptable to HUD within that initial bid period, then it is offered to anyone, including investors on a daily bid basis until sold or taken off the market for evaluation or price reduction.
Short Sales, Bank Owned and HUD properties all offer good financial values in the Indianapolis market place. Many HUD properties are only a few years old and need mostly cosmetic updates, although they come in a wide array of prices and conditions. It's very important to do your homework ahead of time and have the property inspected, as all homes are sold "as is" with no warranties. Here are a few important highlights:
Important Notes:
· Offers are submitted by a real estate broker via the internet
· $1000 earnest money & contracts must be to HUD within 48 hours of offer acceptance ($500 for homes with sales price less than $50,000) in the form of a money order, official bank check, or cashiers check
· Mortgage pre-approval to HUD within 48 hours of offer acceptance
· $100 down payment on most properties with FHA financing
· Property sold “as is”
· Must close within 45 days of offer acceptance
· Inspection must be completed within 15 days of offer acceptance
· HUD will pay up to 3% of purchase price for selected closing costs if requested in the accepted offer
· New HUD listings appear on Friday mornings
· For a list of available properties and more details visit: www.HMBIREO.com
Park Forest, Whiteland - Lovely custom built home nestled on nearly 1/2 acre wooded lot. With over 3400 sf of living space, there's plenty of room for any size of family. Versatile floor plan features 3 bedrooms upstairs, plus 2 additional bedrooms on the main level, joined by french doors. There is also a full bath on the main floor, so this area coud accomodate an in-laws quarters.
Spacious kitchen with lots of storage, yards of counter space, hardwood floors and an adjoining breakfast room is a great space for friends and family to gather. Versatile living room could be used as a formal dining space and if you like to entertain, you'll appreciate the huge 24 X 23 great room with cathedral ceilings, tons of windows, a fireplace and view of the pretty wooded yard.
Need some quiet space or a home office? Check out the den featuring built in bookshelves and hardwood floors.
The backyard is a nature lovers paradise - with deck, gazebo, hot tub, redwood playset and a large storage barn with electricity and a workshop.
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Deerwood, Greenwood - We invite everyone to visit our open house at 6456 Deerwood Court on March 22 from 1:00 PM to 3:00 PM.
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Central Park, Greenwood - We invite everyone to visit our open house at 2028 Liberty Way on March 22 from 1:00 PM to 3:00 PM.
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First of all, if you’re having difficulty making your payments, but want to remain in your home, there may be help available under the Obama Administration’s Make Home 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 do not want to remain in your home, 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 communties like Greenwood. Contact us if you have questions or would like more details. Additional resources are available on our website.
Central Park, Greenwood - Announcing a price reduction on 2028 Liberty Way, a 2,157 sq. ft., 3 bath, 3 bdrm 2 story. Now MLS® $144,800 - Very Cute - Move In Ready.
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The residents of Indiana 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 www.chiefexecutive.net.
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Deerwood, Greenwood - We invite everyone to visit our open house at 6456 Deerwood Court on March 15 from 1:00 PM to 3:00 PM.
Held Open by Associate, Irene Walker
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Central Park, Greenwood - We invite everyone to visit our open house at 2028 Liberty Way on March 15 from 1:00 PM to 3:00 PM.
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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!
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. Now everyone is talking about the best movies and we're feeling a little left out.
Well, if you can free up time on your schedule, we can pass along some savings! Have you heard about the Karasote 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 movies 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 Karasote Theater website, click on the Five Bucks Club, provide your contact information and they’ll mail your Five Buck discount card. Currently, four Karasote Showplace theaters in Indianapolis are participating. Illinois, Ohio, Colorado, California, Iowa, Minnesota, Missouri and Wisconsin also have participating locations. Visit the Karasote website to see if there is a theater near you!
Maybe by the time the Academy Awards roll around next year we’ll have actually seen the movies and know who to cheer for!
It's not often that Indiana makes the national news, but recently we've been getting a lot of attention -- and not for the right reasons! Yes, it's been in the papers and on the news -- Elkhart Indiana has the highest unemployment rate in the Country. Even President Obama visited the area to market his economic stimulus package.
Well, here’s some good news that you may have missed, Indiana also has the most affordable housing. According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday, falling home prices have led to the most affordable housing market in at least five years and CNNMoney.com confirms:
“Topping the list of most affordable U.S. metro areas, which ranks areas with more than 500,000 in population, was Indianapolis. This is the city's 14th consecutive quarter in first place; it boasts a full 93% of all homes sold being affordable to median family households.” (read more)
Sure, some industries are struggling and unfortunately jobs in areas like Elkhart may be shaky, but that is not the case across much of Indiana. Many Hoosiers are in stable careers in cities with much lower unemployment rates. For those, it may be an excellent time to take advantage of Indiana’s affordable housing prices. Rates are lower than we have seen in years, loans are available with as little as 3.5% down payment and if you’re a first time buyer there is an excellent chance you qualify for the $8000 tax credit incentive. Yes, you'll receive $8000 which is yours to keep unless you sell your home in the next 3 years. This is an opportunity that requires serious consideration.
And not only are Indiana's housing prices affordable, our communities provide fantastic amenities to our residents. Do you know that Fishers Indiana was recently named the 10th best place to live in the country! Now that's more good news!
Is it the right time for you to buy? Do you have questions about the Indianapolis area real estate market, mortgage rates, down payments or the $8000 tax credit? – Post them here and we’ll respond!