Indianapolis Real Estate Update

Well, the legislature finally got something right.  Effective with the 2009, pay 2010 taxes our property tax cap will be in place at 1% of the home's gross assessed valuation.  That will save homeowners potentially thousands of dollars each year in taxes and allow many to stay in their home.  As a result of the property tax cut, we have a 1% increase in our sales tax to a 7% total sales tax rate.  While this isn't a perfect option, it will give the greatest good, in my opinion to people who can be more discretionary in their spending.

This will make many more areas of Indianapolis, especially older homes much more affordable and help to make these homes more attractive to potential buyers.

This is an incredible time to buy a home with near record-low interest rates, lots of inventory, motivated sellers and extremely well-staged homes.  The phrase, "buy low, sell high" is very applicable here.  If you are even considering buying a home, now is the time to do it as the market is expected to start to balance out the 3rd quarter of this year.

For more real estate information, please visit www.Welcome2Indy.com

Happy house hunting!!