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January Steve & Jack's Home News

Merry Christmas & Happy New Year!!

We hope you are getting in the holiday spirit and ready to enjoy some time with family and friends. Thank you to everyone who attended Santa Night again this year. We had another GREAT turnout and, if you weren't able to make it this year, we hope you can join us next year.

Tomorrow is the day Ana and Steve have their tonsillectomies. While it certainly isn't the way either of them planned to spend their Christmas holidays, it will be over and they can move forward-a lot healthier. This has been a humbling experience for Steve in realizing the lengths a dad will go for his little girl. He has been putting off this surgery for 10 years now, but when Ana was told she had to have her tonsils out, he bucked up and told her he would do it, too! Strangely enough, he drew strength from is 7-year old daughter knowing he had to be calm for her. The things a daddy will do for his daughter!

We will update you on their recovery progress in our next newsletter, but it will take a good week for Ana's recovery and a good 2-weeks for Steve's.

We wish you a more peaceful and relaxing Christmas holiday than Steve and Ana will experience. Thank you so much for all of your support over the years. We are truly grateful for each of our clients and that is why we are in business. Here's to a successful and peaceful 2013 for everyone.

Here is a preview of what you can look forward to reading in the January newsletter:
• A Little Learning
• The Invention of January
• January Quiz Question
• Jammin' January Observances
• Weird Words
• Cheapest Tablet on The Market
• Lead with A Positive Attitude
• Sometimes A Hug Trumps A Fight
• Good Medicine
• 'Chivalry' in Insects?
• Effects of Peaceful Video Games
• Caffeine Withdrawal

Click here to read our newsletter.

Ever Wonder Why You Need A Title Company for A Real Estate Transaction?

Don't forget to file your property tax deductions!

Common Title Problems

Homestead Verification Form

Have you filed your Homestead Verification Form yet and you live in Indiana? If not, you had better do so or rish paying up to DOUBLE in property taxes! See the graphic for more information.

Closing Questions...Answered

December 2012 Steve & Jack's Home News

Merry Christmas & Happy New Year!

We hope you had a fun and relaxing Thanksgiving holiday with friends and family and are now preparing for the Christmas holiday season. Steve & Brigid hosted Thanksgiving again this year for Brigid's brother and wife, Steve's sister and family, and Jack and Mary Anne. We had a great time and everyone left with lots of leftovers! Our favorite is turkey sandwiches the next day...with lots of mayo, of course!

Steve & Brigid took advantage of the long weekend to get Christmas decorations up throughout the house, both inside and out. Although a full day of work, it is our favorite time of the year and we love looking at the Christmas tree with all of the bows, lights, and ornaments. A tradition Steve & Brigid have is picking up a Christmas ornament every time they travel. It always bring back fond memories of vacations gone by and remembering how life has changed over the years. Of course, we have ornaments from when we were younger as well and we share with Ana & Talia how old we were and some memories of that time in our lives. It is a great family time for sharing memories and teaching our girls a little about when we were their age.

One of the new traditions we have embraced is the Elf on The Shelf. What a great vehicle for impressing upon kids the importance for good behavior! Ana read the book about the Elf to Talia. If you are not familiar with the Elf, Santa sends him to kids' houses to watch them and then he reports their behavior back to Santa each night. The following morning, the kids have to look for him as his location changes daily. They aren't allowed to touch him as he will lose his magical powers. Every parent we know who has an Elf in their house absolutely LOVES it!

On a down note, Steve & Ana both have to have their tonsils removed. In order for them to take advantage of the Christmas break and Brigid's vacation time to play nurse, they had to schedule the surgery on December 21st! So, Christmas will not be quite as merry as usual, but the important thing is that they will be much healthier in the future. Recovery time for Ana is about a week, but for Steve it will be about two weeks. Lots of milkshakes have been promised!

In housing news, excellent data has been released, yet again!! These numbers are for all of the MIBOR service area. Hamilton County numbers are even better!!
• Closed sales are up 18.0%
• Median sales price is up 1.9%
• Inventory is down 11.5% and is down to 6.8 months


***Don't forget about our Annual Santa Night at our office-3801 E. 82nd Street on Thursday, December 6th from 5-7PM. This has become an annual event for many of you and we always look forward to seeing you each and every year. This is great for kids, parents, and grandparents. A friendly Santa will be there along with his elfs, a professional photographer who will be taking FREE photos, & some refreshments. Please RSVP by 12/3 to Lisa Kirkpatrick at 317-654-5430 or Lisa@Welcome2Indy.com.

Here are some fun articles you will find in this month's newsletter:
• The Archer
• December Doings
• December Quiz Question
• Boost Problem Solving
• Winter Fun Facts
• Birds Can be Multilingual
• Perfect Holiday Parties
• Overheard on A Bus
• Sleep Tight
• Nuts to You-for A Healthier Diet
• Less Is Often More
• The Power of 'We'

Click here to read the final newsletter of 2012.

Click here to access our exclusive coupons & discounts to save you money at stores you shop every day.

Click here to download the most powerful real estate app in Indy.

Our wish to you this holiday season is that you are able to take some time out of your hectic schedule and the pressures that accompany this time of year and spend some quality time with friends and family as you enjoy your own holiday traditions. Please remember that there are so many people who will not have a very merry Christmas this year. Volunteering in some way is not only good and very much appreciated by those less fortunate, but also does some pretty amazing things for us as well. Please consider volunteering this holiday season to make it just a little brighter for someone else.

Merry Christmas & Happy New Year!!

Top Tips Before Buying A Home

View Your Home from A Buyer's Perspective

Boost Your Home's Curb Appeal

November Steve & Jack's Home News

Welcome Fall!!! With the much-lower temperatures come the changing of leaves and greener grass along with more rain. It also marks the end of many sports, such as baseball and soccer. Such is the case with our family. Ana finished her last soccer game on Saturday, and while it frees up three days/week, it is bitter-sweet as I always look forward to watching Ana play. Brigid enjoys coaching, but is ready for a break as well.

We are looking forward to enjoying some time in the Smokies for Fall Break with Jack and Mary Anne later this month. Mary Anne had eye surgery a few weeks ago, which necessitated her having to keep her head down for 10 consecutive days! While not fun, she completed her recovery a week ago Saturday last. Now, she has another 4 or more weeks before she can expect full vision to be restored, but it beats going blind!

We are looking forward to going to some pumpkin patches and our annual Trick-or-Treating in our neighborhood. Ana has decided she is going to be Dorothy from The Wizard of Oz and Tali is going to be her favorite cartoon character Scooby Doo. Hopefully, you are looking forward to Trick-or-Treaters, Halloween parties and/or Fall Break plans.

Our real estate market continues to improve and has received quite a bit of great press lately. Here is why:
Quarter-over-Quarter Change in Closed Sales +14.5%
Quarter-over-Quarter Change in Median Sales Price +4.2%
Quarter-over-Quarter Change in Inventory -11.2%
Months Supply of Inventory 7.8 months -21.7%

Happy Fall!!!

Save the date for our annual Santa Night at our office on Thursday, December 6th from 5-7PM. Santa will be there with on of his Elfs, refreshments will be served and professional photos will be taken, suitable for Christmas Cards. More details will be coming soon!!!

Some of the fun articles you will find this month:
• Don't Doubt The Power of A Dream
• Notable in November
• November Quiz Question
• Furnace Readiness Tips
• Oldest Bird, Not A Bird?
• Knowledge Is A Matter of Perspective
• Caring for An Elderly Relative While Working
• Facts about Factoids
• 5 Tricks Theaters Use
• Remodel with A Financial Blueprint
• Lost Jobs Lead to New Opportunities
• Girls, Ask Your Guys

Click here to read our November Newsletter:


Click here to access our exclusive coupon & discount site:


Click here for the most advanced real estate app available, including sold listings!
or TEXT: HOME21 to 87778

Buyer Facts & Trends

Some great insight into buyer trends.

First-Time Buyer Facts

October Steve & Jack's Home News

Welcome to Fall! After such a hot and dry summer, fall has hit us hard with much lower temperatures and one of the wettest Septembers on record. We hope that you have gotten back into the rhythm of fall with school back in session, sports in full swing, a multitude of activities to attend, and don't forget this week started new episodes of our favorite TV shows. And...the NFL refs are coming back!!



I attended a class last week hosted by our lender, which focused on business planning for next year already! It was a shock to start thinking about next year, but in order to prepare it is essential. Have you begun planning for next year? Are you good about extablishing goals and committing them to writing? A study once found that over 90% of people accomplished their goals when they were clearly written down and broken down into small tasks. What would your life look like if you accomplished 90% of what you wanted to do?



A coach of mine calls these 'shoulds'. I should do this and I should do that. He asked me to write down 100 'shoulds'. I had to work hard to come up with 100, but eventually was able to do so. After 1 year, I re-visited the list to find that over 80% of my 'shoulds' were completed. That brings up another thought, what would happen if you could dream a goal and you knew that you couldn't fail? What would that goal be? What would happen if you started approaching that goal as if you couldn't fail? In what ways would your life be different? What is the worst that could happen if you didn't accomplish your goal? I'm curious to know what your dream goal is. Would you share your dream goal with me if I shared my dream goal with you?



My dream goal or Ultimate Scenario is to be able to send both Ana & Natalia to Notre Dame by having a business so strong, which creates raving fans by providing magical service to clients that we are able to help 50 clients each year buy, sell, or build a new home. Additionally, my dream goal is to have our systems so tight and have help with our clients, which allows Brigid and me to travel to Europe for 6-weeks, which is our dream vacation. I have already written this goal down and broken it down into small steps and am on my way to accomplishing it. The most important thing is that I can visualize myself having accomplished this goal. I know what it looks like and how I feel having accomplished it. That is my dream goal. Everyone has a different one. What is yours?



While you ponder that, take a gander at this month's newsletter. Here are some of the acticles you will enjoy:

*The Reward That Keeps on Giving
*Fall into October
*Halloween Tongue Twisters
*6 Weird Facts about Technology
*The Cold Facts
*Personal Productivity Trick
*Pumpkin Carving Tips
*Avoid 'Vicarious' Success
*Liking Living Alone
*Your Body Is A Laser
*One-Liners



Click here to read our October Newsletter.

Enjoy your Fall and the amazing colors that it brings!

Excellent News on Housing Prices!!!

Updated Morgage Stats-Did You Know This?

Updated Seller Stats & Trends

Great Real Estate Stats

Check out these great stats on the recovering real estate market:

Graphic courtesy of Brian Buffini

September 2012 Steve & Jack's Home News

Welcome to the end of summer! With school starting earlier and earlier, it seems like summer is getting shorter and shorter. Ana started 2nd grade last Tuesday and Talia started in the TOTS program at Ana's school last week as well. Both absolutely LOVE their teachers and classmates. We are so fortunate to have such amazing schools! They both attend Maple Glen Elementary in Westfield and we couldn't be happier. Hopefully, if you have school-age children, they had a smooth transition as well going back to school.

With the new school year comes new activities. Ana has taken an interest in voice and piano and has been taking lessons weekly to encourage and improve her skills in both. We have been very happy with her progress, but getting her to practice is not always easy... Ana has also started soccer again and Brigid is her coach once again. Both enjoy it and Ana is also taking an additional developmental practice session for 5-weeks to sharpen her skills. She seems to enjoy that as well. Finally, we signed Ana up (at her request) to sing in the Indianapolis Childrens' Choir. If she likes it, we will probably continue it, but Ana knows she can't do any more activities without discontinuing a current one. Mom and dad have run out of time!!!

Earlier this month our family traveled to Tampa, FL to visit Brigid's parents for a few days and then we took our first Carnival cruise. Over the years, we have taken a couple Disney cruises, a Costa cruise and I took a couple of Royal Caribbean cruises with my family while in college. We were interested to see how our experience would be with Carnival.

Overall, it was quite good and we would recommend Carnival to others. It was a smaller ship and an older ship celebrating its 10-year anniversary while we were on board. We were able to get a good deal and secured a stateroom with a balcony for Brigid and me and then got an adjoining inside stateroom for the girls. That arrangement worked great allowing us to relax on the balcony at night after they went to bed and during Talia's naps.

The food was surprisingly good, except for the last night. The dining room service was extremely slow, however. The shows at night were a disaster and even the crew admitted they were terrible! We enjoyed the family comedy shows early each evening. The Carnival Kids Club was amazing and was actually rated higher than Disney!!! The girls both loved it so much, they didn't want to hang out with us the rest of the cruise! We enjoyed several relaxing dinners and comedy shows, as a result. Our ports of call were Cozumel, Belize, Roatan, & Grand Cayman. We swam with the dolphins in Cozumel, stayed on the ship in Belize as there wasn't much we wanted to do there, took a zip line tour through the forest in Roatan (without the girls, of course), and enjoyed a pirate ship ride in Grand Cayman.

We were lucky that we missed both hurricanes, which came through there the weeks prior and following our trip. Carnival is trying really hard to kick its reputation of being a 'booze cruise' and instead is more of a family cruise now. We had a great time and will probably do it again. If you get the chance to take their 'Behind The Fun' tour, do it!! It was fascinating to see areas of the ship guests never see.

Jack and Mary Anne are both doing well and enjoying taking some trips and playing lots of bridge. I was fortunate that Jack was able to cover for me while we were gone. That is quite a relief knowing your clients are in great hands while you are away.

As for the real estate market, it is still going strong! Closed sales are UP 16.6%, the median home sales price is UP 5.3%, and inventory is DOWN 11.6% to 7.8 months. These are all great numbers and are contributing to one of the strongest years in real estate that we have seen in years.

Enjoy the end of summer and feel comfortable calling us anytime we can help.

Here is a sneak peek into this month's newsletter:
• Better Write It Down
• September Quiz Question
• Have A Peaceful September
• Are You in The Cloud?
• Six Innovative Questions
• Movie Homes for Sale
• Four Interesting Food Facts
• Thrifty Car Management
• You Probably Suspected...
• Early Signs of Diabetes
• Why So Many Zippers Say YKK

Click here to read the September newsletter.

August Steve & Jack's Home News

Welcome to the Drought of 2012! We don't know about you, but the lack of rain is certainly making it very difficult for us to keep our gardens and flower and newly planted trees alive. A couple of weeks ago, we were struck a second time in two years by lighting! It was a direct hit to our roof. Fortunately, no major damage occurred, however we did have to replace a few things...again. Our furnace kicked on and heated the house up to 80-degrees before we knew what was happening.

After two direct strikes in two years, we bit the bullet and are having a lightning rod system and surge protection system installed and attached to all of our lines to the house (gas, both electric panels, phone lines, satellite boxes, irrigation system, etc.). The company is Capitol Lightning Protection based in Fishers and is the only certified lightning protection company in the state. We have been very happy with them so far. According to the stats, we have a 99+% chance of either not getting hit again or absorbing and grounding the lightning such that we don't even know we got hit! Those are pretty good odds!! If you want the contact info for Capitol, let me know and I'm happy to give it to you. With all of the news reports lately of houses getting struck by lightning and us getting struck twice, it was time to do something as next time we might not be so lucky.

August 6th is a big birthday for me, the big 4-0. Brigid's birthday is two day's earlier, but she has a few years before having to emotionally deal with this milestone. It is hard to believe I am going to be 40. Brigid and I are going out to eat to celebrate and then we embark on a cruise to the Caribbean for a week with the kids later in the month. We are very much looking forward to that.

Jack and Mary Anne returned safely from their trip to Italy and, after having a few mishaps (broken glasses, lost luggage for 4 days by the airline, and a stolen wallet), it was a great dream vacation for them. They even had an audience with the Pope! They are happy to be home, however.

Real estate has been extremely busy the past several months. Interest rates have continued to fall and are now around 3.5%!! If you still haven't re-financed and think you might benefit from it, it would make a lot of sense to contact a local lender to see if makes sense for you. I have some names of some excellent lenders if you would like them.

Enjoy the rest of your summer, and please do a few rain dances for us. We need it!!!

Click here to read our August newsletter.

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Click here for a safe download to our real estate app for information on every home for sale and sold in the Indy-area.

July Steve & Jack's Home News

Happy Independence Day!!!

We hope you are planning to enjoy some fun festivities over the next week. With the dry weather, it is making personal fireworks' displays more and more dangerous. Should you decide to enjoy some personal fireworks at home, PLEASE be extra careful since the grass is so dry, it can ignite with the smallest of sparks. Have a hose and bucket of water nearby.

We always enjoy attending the Carmel Parade, fair and fireworks show each year. It is always well-organized and has so many entrants in the parade it lasts about two hours! With the heat, it will be interesting to see how long we last.

It goes without saying how thankful, grateful, and appreciative we are of our servicemen and women who have fought for our freedom we have enjoyed for over 200 years now. Freedom certainly isn't free. Thank you to everyone who has sacrificed for each of us to live as we do-servicemen and women, their families, and their friends. We are forever grateful and could never adequately convey that gratefulness through any words, so THANK YOU will have to suffice...

Our family is anxiously awaiting the start of the Olympics. We enjoy watching it every year. What a fantastic show of true sportsmanship and coming together as a global community to support our athletes and nations.

Brigid just finished a HUGE project in re-finishing a dresser and bunk bed for Ana. She didn't just re-finish it, but also added bead board, trim, and decorations. In addition, she built, yes built from scratch by herself a desk for Ana complete with a bookcase, drawers, and a hutch over the desk with lighting, bead board, trim, and routed all of the corners. It looks amazing!!! I am so proud of her!

Ana and Natalia are attending summer camp at Maple Glen this year and they both absolutely love it!! It is a great program and we have been so pleased with how well-organized it is. As an update to Natalia and her potty training, she is pretty much potty trained and has very few accidents. We are so excited and appreciate all of the suggestions you sent last month. Thank you!!

As for the market, it continues to improve. Indy was named again as the Most Affordable City in the Nation! Our Hamilton County Schools are all ranked in the Top 10 in the state. Closed sales are up 15.8%, pending sales are up 9.1%, new listings are down 1.7%, median sales price is up 6.1%, % of original list price received at sale is up 0.3%, months supply of inventory is DOWN 20.3%!! Every single one of these statistics is OUTSTANDING! Interest rates today for a 30-year fixed conventional loan is around 3.687%! If you have a rate in the 4.5% or higher range, you would do good to talk with a lender to see if it makes sense to re-finance. If you needs some names of some great lenders in the area, please let me know.

Enjoy this month's newsletter with some of the articles being:
*Count Your Blessings
*July Quiz Question
*Running of The Bulls
*Invention of The Popsicle
*Vitality Makes Life Easier
*Olympic History
*Bizarre Vacation Ideas
*How to Not Get Hired (very funny!)
*Remove Wax from Carpet
*Tips on Homeowner's Insurance
*The Art of Scrambling Eggs

Click here to read the July newsletter.

Happy July!!!

June Steve & Jack's Home News

Welcome to summer!!! Whether it is or isn't officially, it certainly feels like it-no rain, 90-degree days, staying light until 9:30PM, kids out of school. It is summer. Our precocious 6-year old, however argues with Brigid every day about it not being summer yet technically. Geez!! Since when did she become Miss Know-It-All? Which leads me to my next topic...


Happy Father's Day!!! As an old friend once told me, 'Being a parent is the toughest job you will ever love'. Boy, was he right on both accounts!! Lately, Ana has been arguing with us on just about anything and everything (see paragraph above), and we have become so tired of her attitude. After talking with friends, we apparently are in good company. However, even with the arguing, I love being a daddy to my two beautiful girls. Sure, it is trying but I always feel a little sad when I drop my girls off to school and am always happy to see them in the afternoon when they return home. Isn't that the way it is supposed to be? I have no idea what my girls will make me for Father's Day, but I know whatever it is, it will be perfect and I will love it! Just seeing how happy they are to have made it is the most important part.


We are very much looking forward a most-needed vacation at the end of the summer taking a cruise with our girls. It should be a lot of fun and will be our major vacation of the year.


As for the market, it has taken off like a rocket!!! There is actually a shortage of good homes out there right now. I am seeing and writing multiple offers on the same property in under a week! Sometimes, they are even selling for above list price! This is becoming more and more common. If you are considering re-financing, good news!! I am also seeing appraisals come in much higher than they have historically. Most people I know who have re-financed are pleasantly surprised with the value.


Closed sales are up 16.1%, median sales price is up 6%, and inventory is down 11.8% for all of MIBOR. Distressed sales are also going down. Bottom line, our market is healing!


Take a quick spin through our Father's Day edition of our newsletter. Try and guess the answer to the trivia question. It is tricky! Enjoy the summer and Happy Father's Day!!!


Click here for our June newsletter.


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Click here to download our premiere real estate app.

May Steve & Jack's Home News

Happy Mother's Day to all of the mom's out there!!! Without them none of us would be here. My mom Mary Anne will be in Italy for Mother's Day, as you will remember from last month's newsletter taking the vacation of a lifetime with Jack for 3-weeks. They are so excited and they were able to secure a tour of the Vatican. Michelle and I are so excited for them and can't wait to see some photos of their trip. If you have ever been to Italy, please e-mail or call Jack as he would love to have some more tips on what to do and NOT do while there. Steve remains exceptionally busy during this spring selling season. This has turned out to be one of the absolute busiest springs we have seen in 6 years! Houses are selling in days with multiple offers for above listing price in many instances. In fact, the numbers are unreal. In Central Indiana,.3% increase in closed sales, a 4.9% increase in median sales price, and an 11.7% decrease in inventory, which is excellent. Our inventory is down to 7.8% from over 13% just over a year ago. Distressed sales make up less than 25% of our total market, too. Anyway you slice it our market has improved 11 of the past 15 months. Interest rates are still at or below record lows at 4%. Looking into our crystal ball, home prices will continue to increase over the next several years, interest rates will have to go up, and we will officially enter a 'sellers' market next year sometime, which is defined as having <6 months of inventory. We have steadily been moving in that direction for months. Bottom line, if you are thinking of moving, do it NOW. On a personal note, Ana is having a great time playing soccer and is the star of the team consistently scoring 5-6 goals/game with multiple assists (technically we don't keep score, but every parent knows how many goals his child scores each week). We are so proud of her and she is truly having fun. Watching Ana play soccer is one of our favorite things to do each week. Brigid is having a great time coaching Ana again this year. Ana has also expressed an interest in joining the Indianapolis Childrens' Choir. Several people have told her she has a good voice and she constantly is singing. In fact, that is one way she memorizes things for school is by making up songs. Pretty clever. Ana still enjoys tumbling at Speed Athletics, too. And she continues to do well at school. Natalia is also doing very well at school and enjoys watching her big sister play soccer. She can dribble a ball better than most of the kids on Ana's team already. So, Ana, watch out!! Natalia is still very much of a bull in a china shop and has no fear of anything. Our one struggle with her right now is potty training. She is past being ready and has made progress, but it is very, very slow. We are frustrated since Ana was fully potty-trained by 18-months. Each child progresses differently, but it is still frustrating... We are open to suggestions... Brigid is still doing well at Merck and enjoys coaching Ana. We are looking forward to the Carmel Farmer's Market as we ride our bikes down there each Saturday morning. This year, Ana will be able to ride on her own as she recently learned to ride without training wheels. For spring break this year, we went to Edisto Beach, SC. It is about an hour SE of Charleston. We stayed in a time-share and were met mid-week by Brigid's family. We had a great time and Steve was even able to see his college roommate John Parker as well a few times. Don't miss out on some very interesting articles this month in the newsletter, such as: • A Good Example Goes A Long Way • May Quiz Question • What Mother's Know • May's Other Days • Charisma Can Be Developed • The Art of The Cheap Road Trip • Gas Waste • Thermogenic Foods Burn Fat • The Importance of Advertising Happy Mother's Day!! Thank you, moms for all of the sacrifices you have made and continue to make for us!!! Click here for a link to our May Newsletter, our blog, and our exclusive discount savings site. Click here to visit our website full of information on real estate and Indy: http://welcome2indy.com/ For the absolute BEST and brand new mobile real estate app in the state, text the following. You will be one of the very first to own this cutting-edge technology: TEXT: HOME21 to 87778

April Steve & Jack's Home News

Dear Steve & Brigid, Happy April Fools' Day!!! More importantly, Happy Spring! We hope this spring brings with it a renewed energy and optimism for the year ahead. I have already gotten my first sunburn of the year working in the yard this past weekend! With spring also comes Spring Break. What are your plans? We are driving to Charleston, SC to meet up with an old college roommate of Steve's and then off to Edisto Beach to spend some time with Brigid's family for part of the week. Jack and Mary Anne are taking a life-long dream trip to Italy in May. They are extremely excited and will have lots of pictures and stories to share upon their return. Have you ever been to Italy? Do you have any suggestions? Please e-mail them to Jack. This warm spring has brought out a recovering real estate market as well. Inman News-the pre-eminent real estate news source states that 2012 will be the best year for real estate in 5 years!! Pending home sales and closed sales are up double digits and inventory is nearing a 'balanced market'-something we have seen for years!!! Click here to read our April edition of our newsletter as well as to view exclusive coupons and discounts at places you shop every day! Enjoy the beautiful weather and safe travels to those traveling on Spring Break!

Indianapolis Housing Market EXPLODING!

With all of the warm weather, we can almost 'taste' Spring. This has been especially true of the real estate market with activity we haven't seen in years! I'll get to some great stats in a moment. Ash Wednesday was yesterday and 'Fat Tuesday' was the day before. For Catholics, that means Lent is here. I noticed quite a few 'good' Catholics with the ubiquitous crosses on their foreheads yesterday. Unlike the wind and the type of religion one practices, real estate seems to be very visible all of the time. It is nice to be able to report some good news. Click here to read our March 2012 newsletter and access our VIP Savings Site. The Indy real estate market, as mentioned earlier is quickly heating up, seeing gains we haven't seen in years. Our Months Supply of Inventory is down to 7.6 months (down 12.8% from last year). Active listings are down 10.4%, which is great as we need to reduce our oversupply of housing inventory. Median sales price is up 4.7%. Closed sales are up 28%!! Pending sales are up 18.3% and new listings are down 8.8%, which is also good as we need to reduce inventory more. Distressed sales are <20% of the overall housing marketing for the first time in years. Bottom line-the housing market is markedly improving!

February Steve & Jack's Home News

Happy Valentine's Day!!! Enjoy some fun and light reading in our February edition of our newsletter. Click here to read it along with links to our VIP Client Savings Site and our other blog entries. The Indy real estate market is heating up and the Spring Market has already started. We are seeing multiple showings/day on listings and, can you believe it, multiple offers as well!!! Inventory in down, buyers are up, sales price is up, and distressed sales are the lowest in years. Don't forget those historically low interest rates, too!!! This is a great time to buy or sell a house. Don't take my word for it, just Google real estate and you will find article after article extolling the virtues of this market, how it has hit bottom in many markets and is on its way back. No one can predict the future, but this sure is a good start!!!

January 2012 Steve & Jack's Home News

Happy 2012!! Click here for a link to our first newsletter of the new year as well as a link to our Indy-area real estate blog, & VIP savings site. Enjoy!!

Merry Christmas!

Merry Christmas to all of our loyal clients, friends, and colleagues who have been so supportive this past year!!! While many agents have struggled, we continue to have a strong business and it is because of you. May your 2012 be exciting, prosperous, and fun and feel comfortable knowing we are always here for you and those you care about for your real estate needs. Merry Christmas and Happy New Year!!

December Steve & Jack's Home News

Click here for our latest newsletter full of fun articles and entertaining articles, learn about little-known facts and take a quiz. Also, take a look at the coupons and discounts you can use at places you shop every day! Enjoy!!!

Housing Numbers Up in Hamilton County

The following article appeared in the Current Newspaper on November 8, 2011 in an interview of Steve Rupp by the editor Jordan Fischer: According to the MIBOR third quarter report, the number of closed sales in Hamilton County increased by 27.7% compared to 2010. Steve Rupp, REALTOR for Prudential Indiana Realty Group spoke with Jordan Fischer from The Current Newspaper about these figures. “The third quarter is turning out to be the best quarter of the year so far,” Rupp said. “new listings are down, and that’s excellent. We need those numbers to come down. And part of that is that foreclosures are down.” The monthly supply of housing inventory for Hamilton County dropped 3.5% in September to 8.3 months. That’s lower, Rupp said, than MIBOR’s average inventory, which is hovering around 9.5 months. The median sales price did drop 3.9% compared to this period last year, however, which Rupp said is a sign homeowners are still having to negotiate “pretty hard” to sell their homes (homeowners on average received 90.4% of their original list price sale in September). Rupp said he was optimistic MIBOR numbers were signs of an upward trend for the market. “It will be interesting to see where we are in February-March-April of next year, relative to 2011. My guess...is that we’re going to continue the trend of pretty good numbers. If you couple that with still significantly-lower than historical average interest rates, you’re going to have some pretty strong numbers...and you’re not going to have anything holding it back.” In fact, November's numbers just came in and they are even better!! Now is a great time to buy a home, especially in Hamilton County!!

November Steve & Jack's Home News Newsletter

Check out our November edition of Steve & Jack's Home News with some fun articles about curses, princes, employee surveys, 9/11, cleaning your phone before discarding it, and some common abbreviations. Also, some notable (and good) housing numbers just in for the Indy Metro Area: *Closed sales are up 24.1% *Median Sales Price is up 4.1% *Housing inventory is down 7.7% to 9.5 months *Interest rates are still low at around 4.25% Click here for our November Newsletter. Enjoy!!!

Sub-4% Interest Rates? Really?

Yes! Really!! On Friday of last week, we saw for the first time in decades interest rates below 4%!! This is for 30-year fixed, conventional, conforming mortgages. One client recently remarked, 'That is almost like free money!'. Unfortunately, due to the weak global economy and the significant action the Fed is taking on monetary policy, mortgage interest rates continue to drop. How low can they go, you say? No one knows, but if you are in the market for a house, rates like this literally can't get much better. Take some time to talk with a reputable and local mortgage consultant to show you know much more house you can buy with these low rates. Of course, I am not encouraging you to buy a bigger house than you need, but if you have been dreaming about a bigger/nicer/better location house, this might be THE time to seriously look into it.

September 2011 Steve & Jack's Home News

Check out the latest edition of our fun and informative newsletter. The link will also take you to our VIP discount site and a first-ever video introduction!! Let us know what you think!!! Enjoy!!

http://bit.ly/oFxDDy

Half Price Indiana State Fair Tickets!

Like to visit the Indiana State Fair, see all of the animals, interesting people, ride the fun rides, and eat that yummy food? What is better than that? How about getting in for HALF PRICE? Click the following link for a half price coupon courtesy of your Indiana BMV.

http://bit.ly/pvfjTT

Buy Your First Home from Your Bridal Registry? Yes!!!

Newlyweds say “I DO” to FHA Bridal Registry Gift Funds

Are you planning to get married and buy a home in Colorado, but wonder
where your down payment funds will come from?
FHA has a Bridal Registry program where the money you receive as a wedding
present can be used towards your down payment. Just like registering at a specialty or department store, the FHA Bridal Registry program allows you to register with a lender. Then your friends and family are able to make gift payments into an interest bearing account on your behalf.
It's a win win! Not only can your gifts earn interest, but they can be used as a down payment towards an FHA Loan.

Bridal Registry Guidelines

Bridal Registry Accounts were originally introduced in 1996, but still remain a little known fact when it comes to down payment assistance. The
misunderstanding of how this program works might be the fact that it was
originally only allowed by banks. Soon after, FHA modified the program and
offered new flexible options and the opportunity for the newlywed to set up the account at any bank. Plus, newlyweds are now able to make deposits on their own from the gifts they receive.

Here's how it works in 3 simple steps:
• You will open a savings account at your bank prior to the wedding
• Friends and family will be given the banking information where the gifts will be deposited
• All of the gift funds can go towards the FHA required 3.5% down payment
• Anyone with an interest in the purchase cannot be party to the gift funds (i.e. realtor)
• There is no requirement that you be married prior to closing on your new home

Another huge advantage is that there are no gift letters or other documentation required other than proof of your savings account
named "bridal registry account." It's that simple!
AGENTS: Marketing Ideas to Spread the Word in Your State
• Explain it on your website
• Blog about it
• Let your “to-be-married couples” know about it
• Send an email to past clients
• Attend wedding fairs & distribute brochures
• Mention it at your homebuyer seminars

The great news about this program is it is available Nationwide!

To learn more: Check out our FREE Top 20 Homebuyer Secrets that can save you thousands of dollars! Plus browse our Home Buying Resources section and fill-out a free no-obligation secure online application or call us in Colorado Springs, Colorado at 719.387.1368 with any questions.

Bad credit or No credit? Check out our Credit Repair Program and get started on the path to homeownership today!

Overcome loan application stage fright by reading my Simple Steps to a Complete FHA Loan Application
Newlyweds say "I DO" to FHA Bridal Registry Gift Funds was written by Rebekah Radice.

Activity is UP!

Wow!! The number of listings in Indy has dropped 24.4% per MIBOR since March and I am seeing it in the low inventory available to show my buyer clients. What I have found is that there are fewer homes in good condition at market-acceptable prices than in the recent past. This is making it more frustrating for buyers to see a number of feasible options when house-hunting, however it is having a positive effect on sellers in that the average sales price is increasing-a simple law of supply and demand.

If you or someone you know is thinking of selling their home, please talk with your real estate agent to see how the market has changed and how you might benefit from the low inventory. In many cases and areas, inventory is below 3 months right now, which is indicative of a strong SELLERS market.

The $250,000-$350,000 Vacuum

Do you or someone you care about have a house valued between $250,000 and $350,000 on the north side of Indianapolis? If so, ever thought of selling it? It just so happens the north side of Indy right now has a depleted inventory of homes in this price range and there are a lot of buyers wanting homes in this price range. What does this mean to you?

Many homes in this price range are selling in days, with multiple offers, for above asking price. It is a simple supply and demand problem. If you would like to know specifically how homes in your neighborhood are moving in this price range, shoot me an e-mail and we can talk specifics.

Spring Is Here!

Spring has sprung (optimistic thinking, I know), but unofficially the spring real estate market in Indianapolis begins the weekend after the Superbowl. The recent harsh weather has tempered activity, but if you are thinking of taking advantage of the spring selling season during which 72% of all homes in Indy are sold (February-June), then NOW is the time to make your preparations to get it show ready. Interest rates are creeping up (currently at 5.125% for a 30-year fixed conventional mortgage with a 740+ credit score), but that is still a really good rate given the 40-year average for a 30-year fixed conventional interest rate is 7.875%.

Start preparing your house by decluttering, depersonalizing, and pre-packing items you don't use on an everyday basis. A fresh coat of paint goes a long way and is probably the best investment in preparing your home for sale you can make. Paint over any bold colors with earth tones and for heavens sakes if you have wallpaper, please, please, please remove it.

A good, thorough, deep cleaning goes without saying paying particular attention to the kitchen and bathrooms. Your house should pass the 'white glove' test. If your carpet is clearly worn, please replace it. If it just needs to be cleaned, hire a professional carpet cleaner who will breathe new life into them. Any dirty grout should also be cleaned by a professional grout cleaning company.

When the weather warms, plant some colorful flowers and plants outside your house and make sure the front door is clean and welcoming. Cleaning the windows will allow more light into your home, too.

These are just a few tips and tricks. Feel free to contact us for more ideas and suggestions. Happy staging!!!!

Indianapolis One of Best Cities to Move

Did you see this article? CNBC posted an article explaining why Indianapolis is one of the 10 best cities in the US to move to right now. Read the full article here:

http://realestate.yahoo.com/promo/best-cities-to-move-to-in-america.html

This is just another example of why Indianapolis is still one of the best places to live in the US. We have very high quality of life, a vibrant city, low cost of living, a highly educated worforce, a stable economy, and the most affordable housing in the country.

FHA Increased Fees

Did you know that on October 4th, FHA increased its annual (monthly) mortgage insurance premiums? For loans with 5% down or less the monthly premium went from .55 to .90. It also decreased its upfront insurance premiums from 2.25% to 1%. This is for 30-year loan products. For a LTV less than 95% the monthly premium is slightly reduced at .85.

What does this mean to you? While the closing costs will be less, your monthly payment will slightly increase. On a house with a $200,000 loan, it could mean a monthly increase of your mortgage payment of around $42. At the current interest rates, this means that the average buyer will be able to afford $7,000-$8,000 less house than last week. Pleast note that these are very rough numbers and are used for a basic illustration only. Please talk with a mortgage lender to find out how these changes specifically reduce your buying power. But know that your buying power just went down no matter how you slice it.

For some great tools for buyers including a great mortgage calculator and nationwide listing search visit http://www.welcome2indy.com.

Interest rates--How low can you go?

3.99% fixed rate conventional 30-year mortgage with no points. Seriously? Yes, I saw one of my lenders offering that last week. Crazy!! It is unlikely that they will go much, if any lower, but then we thought that was the case at 4.375% last month. The effects of the housing tax credit expiring are being felt in the Indy market and throughout the country. As an example, here are some stats from July 2010 compared to July 2009:
29% decrease in homes closed
23% decrease in pending home sales
9% increase in average sales price-yea!
1% increase in price/s.f.
6.6% increase in homes currently available for sale
11.26 months of inventory currently on the market vs. 7.48 months in July 2009

Aside from values increasing, we are seeing some sobering numbers come in. The best markets as far as lowest months of available inventory is, believe it or not Decatur Township with 7.47 months of inventory and Carmel Clay Township with 7.88 months of inventory. The worst is downtown Indy with 24.73 months of inventory!!!

What does all of this mean? Well, with such low interest rates and higher inventory and a trend of increasing housing values, this is a great time to buy a house!! Not to sound too salesy here, but we are seeing values recover, but super-low interest rates and lots of choices. If you are thinking your window of opportunity has closed, think again. Conversely, if you already own your home and you have a 30-year interest rate of 5% or more, do yourself a favor and talk with a reputable lender about whether or not it makes financial sense to take advantage of these crazy low interest rates and save some money. E-mail me if you would like some names of good lenders in the area.

4.375% interest rates?

Who would have ever thought that we would see a 30-year fixed conventional mortgage interest rate at the 4.375% mark? Well...we are seeing it right now. What is your current mortgage interest rate? Is it 5% or higher? Do you know what it is? If not, it would merit checking. Reducing your interest rate by around 1% could save you hundreds of $$$$ each month. It might make sense to talk with a mortgage lender and see how these low rates could positively affect your monthly payment.

Indianapolis is in the recovery mode, however we are still short of buyers out there relative to what we usually see at this time of the year. If you are thinking of buying a home, these great prices of homes coupled with the super-low interest rates could be a big win for you with being able to afford more house than you would have otherwise been able to afford, or further reduce your mortgage payment. Either way, you win!!!

The tax credit vacuum

Welcome to the tax credit vacuum!! We saw this coming months ago. Unfortunately, we are in it now. What I am talking about is the void of buyer activity we are currently experiencing due to the expiration of the homebuyer tax credit on April 30th. No one knows how long this is going to last, but the first-time homebuyer price range is the most affected. Here in Indy that is $200,000 and under. Homes priced above $400,000 are not doing badly and homes above $900,000 are seeing some of their best activity in years.

The sooner the unemployment rate retreats, the sooner we can set our sites on a long-term recovery. Banks and secondary markets are preparing to release their 'shadow inventor', which are the homes they own, but don't have on the market as they are waiting for the market to improve. Since they have seen signs of improvement, we are hearing that these distressed properties will be released soon, further depressing the market.

The good news is that interest rates have fallen again and as of Friday afternoon were around 4 5/8% for conventional and 4.5% for FHA with excellent credit.

Either way you look at it, it is a great time for buyers to get back in the market with inventory increasing, sellers getting frsutrated with lack of activity, and super-low interest rates, which, by the way could save you more money in the long-run than the tax credit with higher interest rates!

Another low appraisal

Ah, the reality of real estate today-another low appraisal. These are becoming more and more rampant and are the bain of every real estate agent's existence. On top of the added research, work, stress, and communication with the other agent and your client, what can be done with low appraisals?

First, a thorough review should be performed to determine if any mathematical mistakes were made when adding and subtracting the adjustments for the comparables.

Second, was the subject property properly 'bracketed' by the sold comps? By that I mean, did the appraiser use relevant comps, some of which were higher in price than the subject, some about the same price, and some lower in price than the subject?

Third, are the comparables the best comps to use? Were they all in the same neighborhood as the subject? If not, why not? Sometimes there just aren't enough comps available in the subject neighborhood. If the appraiser must search outside the neighborhood, then he/she should look for similar neighborhoods to the subject and adjust for location as necessary.

Fourth, are the adjustments made fair?

Fifth, were any distressed properties (short sales, foreclosures, HUD homes, bank-owned homes, etc.) used as comps? If so, did the appraiser disclose that fact and make an additional adjustment for the distressed sale, which almost always is lower than a non-distressed sale.

Sixth, is the appraiser from the area or out of the area? If out of the area, has the appraiser perfomed many appraisals in the subject's area?

Seventh, was the subject labeled as being in a 'declining market'? If so, that can be the 'kiss of death' and require a 10% down payment from the buyer. This label is VERY difficult to remove.

As for action steps, I would gather all of my information and personally call the appraiser to talk with him/her about any discrepancies. HVCC DOES allow for a real estate agent to contact the appraiser directly, just not the lender. Not all appraisers will be open to talking with real estate agents, however. Some are more receptive than others.

If the appraiser is unwilling to adjust the appraisal, your next step is to file an appeal through the lender who will take your information you have showing that you believe the appraisal is flawed and run it through the appraisal review process. This could take up to a week.

If that doesn't work, you can always order another appraisal from a different appraiser (for a fee) and see if it will come back higher.

This is just a starting point for a low appraisal issue and there are other steps, which could be taken as well if the situation warranted. It is important to note that I am NOT a licensed appraiser, but have been through this process more times than I can count. If this post helps just one person avoid losing a sale based on a low appraisal it will be worth it. Good luck!

The clock is ticking...

That sound you hear, is the clock ticking away and the end of the homebuyer tax credits. The first-time homebuyer credit and the existing homebuyer tax credit both expire June 30, 2010 and you much have an accepted contract by April 30, 2010. What does this mean? If you want 'free' money from Uncle Sam and you are considering moving in the near future, this is the time to do it. The Indy market has consistently improved and so have home values making for fewer 'deals'. There are lots of buyers in the market already and we are seeing many multiple offer situations. In many markets it is already a 'sellers' market, which is defined as fewer than 6-months of inventory.

So, get out there and take advantage of these low rates, low prices, and 'free' government money. All three will go away this year.

36.5% Increase in Indiana Real Estate Market!

BIG news from the Indiana Association of Realtors yesterday with a HUGE increase in home sales throughout the state. Read the full article from the Indianapolis Star below:

http://www.indystar.com/article/20091222/BUSINESS/91222011/Indiana-home-resales-jump-36-in-Nov

BIG Increase in Home Sales

Click on the link below to read a recent article by NAR about a record home sales increase. Good news, for once:

http://www.realtor.org/press_room/news_releases/2009/11/record_big

FAQ for the Homebuyer Tax Credit Changes

NAR Frequently Asked Questions

Homebuyer Tax Credit Changes

National Association of REALTORS® Government Affairs Division

500 New Jersey Avenue, NW, Washington DC, 20001

Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit

Question: Existing homeowner credit: Must the new house cost more than the old house?

Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who

meet all eligibility requirements will qualify for the $6500 credit.

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a

new home. I have lived in my current home for more than 5 consecutive years and

am within the new income limits. I will go to settlement on November 20. If

President Obama has signed the bill by the time I go to settlement, will I qualify for

the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment

(when the bill is signed). There is no reference to the date of contract for the new credit. The

provision looks solely to the date of purchase, which is generally the date of settlement.

Question: I am a firsttime

homebuyer but was not within the prior income limits at the time I

entered into my contract to purchase on October 30, 2009. I will be covered,

however, by the new income limits. If the new rules have been signed into law by the

time I go to settlement, will I be eligible for a credit?

Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill.

The income limit and other eligibility rules will look to your status as of the date of purchase,

which is the settlement date. So if the new rules have been signed when you go to settlement,

you should be eligible for the credit (or a portion of the credit if you're within the phaseout

range).

Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I

have found a home with a nonnegotiable

price of $825,000. Will I be able to use any

of the $6500 tax credit?

Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount

above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an

absolute ceiling.

Question: I owned my home for 10 years, but sold it two years ago year and have been renting

since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the

other eligibility tests?

Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you

will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000

and lived there until 2008 when he got a divorce. Whether John has been renting or bought in

the interim, he WOULD INDEED be eligible for the credit because he owned a home and

occupied it as his principal residence for 5 consecutive years out of the last 8 years. The

keyword here is "consecutive." As long as he lived in that house for 5 years straight what he

did since 3 years doesn't impact eligibility.

Question: I am an eligible firsttime

homebuyer. I entered into a contract to purchase on

November 1, 2009. Do I have to go to closing before December 1? How does the

extension date affect me?

Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as

if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30

(or July 1, worst case), the purchaser will be eligible for the credit.

Homebuyer Tax Credit Passes Congress

Congress overwhelmingly passed an extension to the homebuyer tax credit. See link below for details.

http://www.cnbc.com/id/33673455/

Deed for Lease Program

	News Release
	November 5, 2009
	Fannie Mae Announces Deed for Lease™ Program
	WASHINGTON, DC -- Fannie Mae (FNM/NYSE) is implementing the Deed for Lease™ Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with the voluntary transfer of the property deed back to the lender. "The Deed for Lease Program provides an additional option for qualifying homeowners who are facing foreclosure and are not eligible for modifications," said Jay Ryan, Vice President of Fannie Mae. "This new program helps eliminate some of the uncertainty of foreclosure, keeps families and tenants in their homes during a transitional period, and helps to stabilize neighborhoods and communities." The new program is designed for borrowers who do not qualify for or have not been able to sustain other loan-workout solutions, such as a modification. Under Deed for Lease, borrowers transfer their property to the lender by completing a deed in lieu of foreclosure, and then lease back the house at a market rate. To participate in the program, borrowers must live in the home as their primary residence and must be released from any subordinate liens on the property. Tenants of borrowers in this circumstance may also be eligible for leases under the program. Borrowers or tenants interested in a lease must be able to document that the new market rental rate is no more than 31% of their gross income. Leases under the new program may be up to 12 months, with the possibility of term renewal or month-to-month extensions after that period. A Deed for Lease property that is subsequently sold includes an assignment of the lease to the buyer. For additional information about the Deed for Lease Program, including full details on program eligibility, please review the Guide Announcement on www.efanniemae.com.

Homebuyer Tax Credit Extended?

Wow!! Click the link below to read the latest news on Congress extending the homebuyer tax credit. This could be huge, especially if you are an existing homeowner. Click the link to read more.

http://www.cnbc.com/id/33536082/

I'd love to hear your thoughts!

Short Sales

Modern homebuyers will inevitably come across one or more properties currently classified as a short sale. A short sale is an attempt by the current owner to sell a home in lieu of the bank taking it back through foreclosure proceedings, thus partially salvaging their credit rating and lifting the burden of heavy mortgage debt.

The entire short sale process hinges on the hope that the bank will take a loss now, approve the sale, and eliminate the costly process of foreclosing, clearing, and reselling a home. Obviously, this is a big hope on behalf of prospective homebuyers as well and they need to understand some things in order to lessen the chance for disappointment of unapproved short sales. This is what they should know:

1) Price is usually set by the agent & seller, not bank - The agent and seller often create a very low asking price in order to attract buyers. The bank is normally unaware of the asking price; however, the bank has the final say in what an acceptable offer will be. Since the bank has the power to ultimately accept or deny offers, their lack of price awareness often leads to the process taking longer than anticipated. The bottom line is that the buyer needs to remain positive and patient throughout the entire process, sometimes even for months.

2) Loans owned by 1 bank usually better than 2 - If the seller has loans owned by two different banks it is a lot more difficult to approve the short sale. This is something the agent or the buyer cannot control; it simply depends on the willingness of the bank or banks involved. While the reasons are beyond the scope of this guide, buyers should know that when the seller only has loan(s) with one bank the short sale often becomes more buyer-friendly. A savvy Realtor can let you know this type of information.

3) Lowball offers get slow or no response - Remember that the bank is typically unaware of the pricing during a short sale. When lowball offers stream into the bank they are often scoffed at and rejected, giving the prospected buyers little or no feedback. Surprisingly, it may also take painstakingly long to hear back even on good offers due to the high volume of transactions lenders are inundated with these days.

4) Agent must check comparables before submitting offer - The agent must be sure to check recent home sales in the area to give buyers a better idea of the properties that are selling. This will give the agent and the seller appropriate grounds for an asking price that will be more likely to be approved by the bank. Checking comparables will also give the buyer a better knowledge of what price homes in the neighborhood are selling for and ultimately make them a more informed homebuyer.

5) Don't hang your hat on the property - Short sales aren't necessarily "short." It can sometimes be a very long process. Don't get your hopes up for just one property, keep your options open and continue to actively look at multiple properties. Buyers must remain optimistic, the right property will come along. In most areas it is completely legal and risk-free to have multiple offers out at any given time with the proper contingencies.

6) Sellers with other properties or too strong of financials may not qualify for short sale and/or may be asked to pay the difference - Sellers that own more than a handful of properties or have an extremely large net worth will probably not be eligible for short sale. In some cases the seller will be asked to pay the difference of the sale. The seller might even need to sign a promissory note stating that they will pay back all or most of the debt. This has virtually no effect on the buyer as long as the seller cooperates.

7) "Approved" prices are quickest - It is important to remember that short sales are not always timely; however, making an offer on an "approved short sale" can be a quicker process. An "approved short sale" has a price that has already been given the green light by the bank. This could be due to the fact that another interested buyer made an offer that was approved, but didn't end up buying the property. These types of short sales are some of the most highly desirable.

8) Some banks look want strongest buyers, some want strongest offers - The bank has all the power in approving short sales. The bank can pick the most appealing buyer, which may mean different things to different banks. Some banks may prefer the buyers with large down payments while others just want the highest price regardless of down payment. Many buyers want to know if they will get a deeper discount for an all cash offer. This is very hard to predict and one will never really know until they make an offer. As long as the buyer is surrounded by a good team we would advise them to do just that.

9) Repairs are seldom done, credit is more frequent - If there are improvements that need to be made on a home, even if they are necessary to get a loan, it is often unlikely that they will be done. Typically there is some sort of credit issued and the buyer must take the responsibility of fixing anything that is broken.

10) When you get approval, must close on time - During a short sale there is no leniency with the closing escrow date as there often is in a traditional sale. During a short sale, exceptions are rarely made and the buyer must close on time. Because of this, it is important to take care of all loan paperwork immediately after opening escrow. We'd advise buyers to be extra prepared and try to have the loan finalized a few days in advance of the closing date. If there is going to be an issue that will prevent closing on time, a request for an extension will need to be made immediately. If the request is made early enough, many banks will grant an extension but don't just assume it will happen.

Conclusion
Short sales can be a great opportunity to find your new home at a competitive price. A Short sale could also be a major headache that lasts for months. It is important to have a good understanding of the factors that lead to a successful short sale to make it an enjoyable and profitable experience. We hope that these tips will help you to remain positive and optimistic throughout the process.

Todd Foust is the chief marketing executive for the FOUST Team at C21 Discovery; one of the top-selling real estate teams in Southern California. He specializes in Orange and Los Angeles Counties and operates one of the areas most informative real estate websites. To contact him or learn more about Anaheim real estate, please visit FOUSTonline.com.

About the Author: Jennifer McNamara works as a creative marketing contributor/manager for the FOUST Teams public relations division. She is a Southern California native and specializes in translating complicated real estate knowledge into user-friendly information for local homebuyers.

The Magic of A Child's Laughter

Welcome to Autumn! It seems like we barely had a summer and Fall hits quickly. We hope you are enjoying the colors, festivals and, of course your favorite football team!

Thank you for everyone who has called and e-mailed to inquire about how Brigid is doing with her pregnancy. Today is the beginning of her 6th month and she is still doing well, uncomfortable some days, but well. Ana is 'preparing' to be a big sister and is reading books and playing 'big sister' with her dolls to assist in this 'preparation'. As if this weren't cute enough, she asked to have the ultrasound photos in her bedroom so she could 'get to know' the baby better. What I've learned about being a father for a very short four years is that children can certainly try every last nerve in your body, but more importantly, they create more laughter and smiles than you would otherwise have ever thought possible. Parents, does that ring any bells or truths for you? I've shared my most recent funny story about my daughter with you. Now, I'd love to hear some of your funny stories, which have made you smile. Please e-mail me at Steve@Welcome2Indy.com or post on our blog at www.Welcome2Indy.com.BlogSpot.com. I can't wait to smile some more!

Finally, who do you know who should be a first-time homebuyer, but they haven't taken the first step for whatever reason? Please encourage them to talk with a trusted real estate consultant who can take the time to get to know their wants and needs as well as their hopes and dreams and can counsel them effectively on their options. We would love to be that consultant for them as the tax credit expires November 30th, which means they have to CLOSE by November 30th. Time is running out, interest rates are at historic lows, sellers are motivated, and inventory is still plentiful. Our market is getting stronger every day, and the historic values will not last forever, especially in Indy. Please introduce us if we can help make a difference in someone's life. Below is a secure link to our October Newsletter. There is a lot of good and fun information and articles in there. Enjoy! As always, thank you for your loyalty and support!!

http://tinyurl.com/yfoenxr

$8,000 First-Time Buyer Credit Expires Soon!

Are you a first-time home buyer? Do you know someone who would be? You have until the end of October to find a house and get an accepted purchase agreement in order to take advantage of this historic tax incentive. It expires November 30th, which means if you have CLOSED on your new home, you will NOT be able to take advantage of the tax credit. There are many outstanding houses out there still and interest rates are still historically low. Take advantage of this free money while it lasts. For more resources, check out: www.Welcome2Indy.com.

The Media Finally Catches Up...

It's about time! After many months, the mainstream media has finally caught up and started reporting something those of us in the industry have known for many months--the real estate market is healing. Welcome to the party!

We are seeing multiple offers, homes selling in days, and in some instances, for more than asking price. The bad part is that appraisers are still making things difficult and, in my opinion being too conservative and killing deals by valuing homes too low despite a ready, willing, and able buyer and seller happily paying the agreed upon purchase price and easily defensible comparables. So, buyers and sellers beware! Just because you got a great price for your house, that doesn't mean you are going to get an educated appraiser who will properly value your home.

If you qualify for the $8,000 first-time home-buyer tax credit, you only have until November 30th to close on your new home. And, don't forget that if you are bringing $10,000+ to closing, your funds MUST be wiring to the title company-absolutely NO exceptions.