Real Estate Information

We had a good start to the 2010 year and just sold 6 houses in 1 day. The market has slowed down some due to the Super Bowl and the snow that seems to never end. Don't forget that the tax credits end at the end of April!

2009- What a year! We came back like the Colts in a tight game. After the market crashed in October of 2008, we completely re-tooled our operation and just hunkered down and went after it!

All of our new marketing, door knocking and 12 hour days paid off! We finished the year up 6 million in sales over 2008. Our volume was up over 42 sales even though our average sales price was a little lower.

We also listed 207 homes which was down a little from 2008 but we turned down a lot of listings that we did not feel good about...either they owed more than we could sell them for or were not in good enough condition for a buyer to get a loan.

2010- Our motto for the new year is "Let's do it again in 2010!" Our outlook is one of guarded optimism. We have two tax stimulus packages working at the same time- the first time in history. This should stimulate the market through Spring. However, we need to see unemployment drop and people will spend money.

It is great to see restraunts busy and people talking optimistically. One of the best sayings I heard late in 2009 was from a restraunt server (working his second job) who said, "I'm not sure I'm any better off than last year, but I just feel better about things."

So, we had a very very good 2009 and are excited about 2010..."WE JUST FEEL BETTER ABOUT THINGS!"

I am sorry it has been a while since I have posted anything in the blog. We continue to be busy and have shattered our expectations for this year. Needless to say, it has been a good year with a lot of hard work and long hours.

If you are a homeowner that has owned a house 5 of the last 8 years and are thinking about moving....DO IT NOW! You can be eligible for the $6,500.00 tax credit. House sales are up by 21% over the same time last year, according to the Indiana Association of Realtors. There is only a 7 month supply on the market which is much lower than reported in the past and rates are currently running 4.75%-4.875% with ZERO points. If you are thinking about selling, don't wait until the spring. Right now you have $6,500.00, less competition and great rates stimulating the market.

First time buyers- the $8,000.00 tax credit does end in June but all purchase agreements must be accepted by the end of April. Please get started now so you are not rushed and you have the time and opportunity to find the right house.

ABBEY ROAD- A safe secure fun place to live. When the developers looked at the small rolling piece on South Arlington Avenue near the Marion, Johnson County line. Their vision was to develop it into a small custom gated community where safety, fun and no hassle living could be enjoyed. The safety issue was addressed with the Southside's first gated neighborhood. The fun was encouraged with the custom clubhouse with a plasma screen, kitchen, guest quarters and work out facility. No hassle living was addressed with yard maintenance and snow removal being paid in the association fees.

Inquire today about below market 2.99% interest rates, home trade-in program, bringing your own builder, and other exciting points of interst.

I am sorry that I have not stayed on top of this Blog like I would like but we have been very busy. I was quoted in the Daily Journal newspaper yesterday as to the condition of the market since it is up. The $8,000 tax credit is ending Dec. 1, 2009 and if you plan on taking advantage of the credit...you need to start the buying process today. We sold 40 homes last month, listed 27 and closed 23. In a good market we would close 30 homes and we blew past that number last month.

Despite what some people believe, the $8,000 tax credit for first time buyers or for someone who hasn't owned a home in the past three years is stimulating our local economy. From March 1, 2009 through August 18, 2009 we have sold 146 homes and prices have ranged from $26,000 to $700,000. Only buyers who have closed on their new home by Dec. 1, 2009 will be eligible for the tax credit.

I have received a few questions lately about "short sales" and/or a "deed-in-lieu." These circumstances are almost the same thing as a foreclosure and will have the same impact on your credit score. Sometimes we have been really creative in helping seller's sell a home before their credit is completely tarnished. If you are being faced with this situation, call us early rather than later.

The Southside home market is getting better and we are starting to see the homes beyond the first time home buyers sell. So the stimulus package is working!

The first time buyers dominoed the market up- when they bought- those sellers to then bought up and on and on.

First time buyers need to buy now- realizing the stimulus runs out December 1, 2009. They should count on purchasing before October 1st, 2009 so they can be closed by the deadline.

Rates are low- below 6%, gas is down, construction costs are down, banks are dealing on lots- great time to build a new home!

Now is the time to buy or build!

We were closed Friday, Saturday and Sunday for the holiday weekend. Myself and the team had a much needed break. We closed 34 homes in June and listed 20 homes. We are still plugging away and selling homes. The market is still hot and I think you will see more first time buyers in the market as the December 1st deadline approaches for the stimulus money.

IS BUYING A SHORT SALE WORTH IT?

Buying a short sale can turn out to be a good investment but there are a few things you should know before submitting an offer. First, you must be in a situation where you have plenty of time to wait for a response, banks/lenders will respond on their own time. Often times it takes several weeks to get a response and it can be even longer if there is more than one lien holder involved. Secon, banks/lenders will not even consider an offer if it is contingent upon selling a home. Third, a buyer must be prepared to buy the home as-is. In most cases, sellers don't have money for repairs and thus it will become the responsibility of the new owner. Lastly, at the end of the day the bank/lender has the final say. They can always turn down the short sale request even though you waited for an answer.