The weather here in central Indiana is finally starting to change for the better. It seems like it’s been a longer-than-usual winter…but then again, I think I say that every year!

As the days grow longer, I find myself thinking about what kinds of fun adventures to plan for the warmer days. With gas prices hovering in the mid $3.50′s, I’m thinking that the best bang for my buck will be whatever is closest to home…and here in Montgomery County we are lucky to be central to so many things to do!

Be watching for updates of fun things to do within various drive times…if you have a tip, please share.

NEXT: The ONE HOUR drive…

In a mortgage market that changes as quickly as this one, today’s fact is tomorrow’s fiction. For buyers, misinformation can be the difference between qualifying for a home loan or not. Sellers and owners, knowledge is foreclosure-preventing, smart decision-making power! Without further ado, let’s correct some common mortgage misconceptions.

1. Myth: Buyers with bad credit can’t qualify for home loans. Obviously, mortgage guidelines have tightened up, big time, since the housing bubble burst, and they seem likely to tighten even further over the long-term. But just this moment, they have relaxed a bit. In the last couple of weeks, two of the nation’s largest lenders of FHA loans announced that they’ve dropped the minimum FICO score guideline from 620 (which allows for some credit imperfections) to 580, which is actually a fairly low score.

At a FICO score of 620, buyers can qualify for FHA loans at many lenders with only 3.5 percent down. With a score of 580, the lenders are looking for more like 5 to 10 percent down – they want to see you put more of your own skin in the game, and the higher down payment lowers the risk that you’ll default. However, if your credit has taken a recessionary hit, like that of so many Americans, this might create a glimmer of hope that you’ll be able to take advantage of low prices and interest rates without needing years of credit repair.

2. Myth: The Mortgage Interest Deduction isn’t long for this world. Homeowners saved over $85 billion in 2008 by deducting their mortgage interest on their income tax returns. A few months ago, the National Commission on Fiscal Responsibility and Reform caused a massive wave of fear to ripple throughout the world of real estate consumers and professionals when they recommended Mortgage Interest Deduction (MID) reform, which would dramatically reduce the size of the deduction.

Fact is, the Commission made a sweeping set of deficit-busting recommendations to Congress, a few of which are likely to be adopted. Fortunately for buyers and sellers, MID reform is not one of them. Very powerful industry groups and economists have been working with Congress to plead the case that MID reform any time in the near future would only handicap the housing recovery. Congress-folk aren’t interested in stopping the stabilization of the real estate market. As such, the MID is nearly universally thought of as safe – even by those who disagree that it should be.

3. Myth: It’s just a matter of time before loan guidelines loosen up. The US Treasury Department recently recommended the elimination of mortgage industry giants Fannie Mae and Freddie Mac. I won’t get into the eye-glazing details of it here, but the long and the short is that (a) this is highly likely to happen, and (b) it will make mortgage loans much harder and costlier to get, for both buyers and homeowners. It’s possible that loans are as easy to get as they’re going to get. So don’t expect that if you hold out, zero-down mortgages will come back into vogue anytime soon. Fortunately, Fannie and Freddie aren’t likely to disappear for another 5-7 years, so you have a little time to pull your down payment and credit together. If you want to get into the market, the time to get yourself ready is now!

4. Myth: If you don’t have equity, you can’t refi. Much ado is being made about how stuck so many people are in their bad loans, because they don’t have the equity to refinance their way out of them. If you’re severely upside down (meaning you own much, much more than your home is worth), stuck may be the situation. But there are actually a couple of ways homeowners can refi their underwater home loans. If your loan is held by Fannie or Freddie (which you can find out, here), they will actually refinance it up to 125% of its current value, assuming you otherwise qualify for the loan. That means, if your home is worth $100,000, you could refinance a loan up to $125,000, despite the fact that your home can’t secure the full amount of the loan.

If your loan is not owned by Fannie or Freddie, you might be a candidate for the FHA “Short Refi” program. While most mortgage workout plans are only available to people who are behind on their loans, the Short Refi program is only available to homeowners who are current on their mortgages and need to refinance up to 115 percent of their homes’ value. So, if you owe $250,000 on your home, you can refinance via an FHA Short Refi even if your home’s value is as low as $217,000. If you think you’re a good candidate for a short refi, contact your mortgage broker, stat – there are some in Congress who think that this program is so underutilized (only 245 applications have been submitted since it rolled out in September – no typo!) that its funding should be diverted to other needy programs.

5. Myth: If you’ve lost your job and can’t make your mortgage payment, you might as well mail your keys in. Until recently, this was essentially true – virtually every loan modification and refinancing opportunity required that your economic hardship be over before you could qualify. And documenting income has always been high on the requirements checklist. But there are some new funds available in the states with the hardest hit housing and job markets, which have been designated specifically for out-of-work homeowners.

The US Treasury Department’s Hardest Hit Fund allocated $7.6 billion to the states listed below – all of which are now using some portion of these funds to offer up to $3,000 per month for up to 36 months in mortgage payment assistance to help unemployed homeowners avoid foreclosure. Contact the state agency listed below if you need this sort of help:

Alabama: http://www.hardesthitalabama.com/
Arizona: https://www.savemyhomeaz.gov/
California: https://www.keepyourhomecalifornia.org/
Florida: https://www.flhardesthithelp.org/
Georgia: http://www.dca.state.ga.us/housing/homeownership/programs/hardesthitfund.asp
Illinois:http://www.ihda.org/
Indiana: http://www.877gethope.org/
Kentucky: http://www.kyhousing.org/
Michigan: http://www.michigan.gov/mshda/buyers/save_the_dream/helping+hardest+hit+homeowners+-+contact+your+mortgage+servicer+for+assistance
Mississippi: http://www.mshomecorp.com/firstpage.htm
Nevada: http://www.nahac.org/
New Jersey: http://www.state.nj.us/dca/hmfa/home/foreclosure/homekeepers.html
North Carolina: http://www.ncforeclosureprevention.gov/
Ohio: http://www.savethedream.ohio.gov/
Oregon: http://www.oregonhomeownerhelp.org/
Rhode Island: http://www.hhfri.org/
South Carolina: http://www.scmortgagehelp.com/
Tennessee: http://www.thda.org/
Washington D.C.: http://www.dchfa.org/

922 S Maudlin Rd

If you’ve been dreaming of country living, dream no more! This fabulous 3 bedroom, 2 bath home sits on 4.5 acres of rolling hills and woods with a creek. The large barn has 8 stalls and a large workshop with cement floor and electricity. Swine barn, lean-to and round pen. Home built in 1982 has been updated with newer carpet, windows, siding and updates to kitchen and two bathrooms.

Property Details

Property Photos

Property Map

RISMEDIA, September 16, 2010–In today’s market, it takes more than painting and trimming the bushes to get noticed, to stand out, to make your home memorable. While home sellers across the country are resorting to dropping the price in order to make their home more attractive, it leads to one crucial question: what can I do differently to make my home stand out?

Larry Nusbaum, Resolution Assistance Contractor for the FDIC, offers the following tips for home sellers looking to differentiate their homes from the numerous homes that are on the market today.

1. Get lighted signage that’s illuminated even after dark. This will give prospective buyers extra time to see your home as they don’t have to depend on sunlight.

2. If you or your agent are hosting an open house, be sure to serve light snacks and hand out something that attendees will remember. You want something that will be a positive reminder of your home—seasonal gifts are the perfect way to stay top of mind. Be sure to at least have pens and key chains with your agent’s name and contact information on them.

3. Create an informational flyer with all the local conveniences you can find: shopping, schools, universities, hospitals, malls, restaurants, gas stations and attractions in the area, in addition to local police and fire stations, even school bus pick up locations. Assume your open house attendees don’t know the neighborhood.

4. Hand out information pertaining to your home as well as information on the other listed properties in the area showing that your house is the best value.

5. Do some staging to make sure your home looks its best.

6. Be sure to offer incentives. Some examples include a Lowe’s gift card, paying for a year’s worth of yard care or a free session with a landscape architect, offering a $1,000 landscape allowance, paying for a years worth of homeowners fees, offering $1,000 for new appliances or any home improvement, offering a new carpet allowance or paying for lawn service for a year—the possibilities are endless.

7. Paint the garage floor (concrete paint). Making the garage look fresh and clean will make the whole house feel newer.

8. Send letters to all the neighbors inviting them to “pick their neighbor,” and be sure to include information about your home and the open house. Give them an incentive to talk about your home with other individuals in their sphere of influence. (i.e. a $200 gift card if they find your buyer).

9. Put up signs in your front yard and be sure to hang up as many directional signs as the neighborhood allows.

10. Put out flyers in surrounding shopping areas.

11. Have your agent create a video of your home and put the virtual tour on the Web.

12. Have your agent post ads on Craigslist and on any other free online listing sites you can find.

13. E-mail HR departments at local companies as many employees prefer to live close to their jobs but don’t make time for the house hunting process. This will make it easy for employees to find your home.

Cute! Cute! Cute! This 2 Bedroom, 1 Bath home is full of charm! Walk to school, church, ball field, park and downtown.
Arched doorways, laminate floors, bright, sunny kitchen, detailed woodwork. This home has updated electrical and a new furnace in 2009. Situated on a corner lot with a covered porch and rear deck. All appliances stay!

Property Details

Property Photos

Property Map

The Taste of Montgomery County is just a few days away! Don’t miss this fun-filled event where you can sample some of the county’s best flavors! Set on the grounds of the historic General Lew Wallace Study and Museum, the Taste offers something for everyone! Over 20 local restaurants and food vendors will fill the air with delicious smells, while three great local bands fill the air with sound!

Bring your friends and enjoy an evening with us!

Saturday, August 28th, 2010
12:00PM – 10:00PM

Admission: Adults $5/Children $3
Food & Drink Tickets: $1 each

General Lew Wallace Study & Museum, 200 Wallace Avenue, Crawfordsville, IN 47933

Property Map

RISMEDIA, August 10, 2010–When selling your home, the goal is to sell it quickly for the highest price while investing as little as possible in renovations. With a limited budget and a little effort, you can greatly increase your home’s appeal by focusing on what prospective buyers can see on their first visit. The experts at BuyOwner.com offer the following recommendations for preparing a house for sale and staging it for showings.

Tip #1: Refresh the exterior
First impressions count when it comes to selling a home. Most buyers won’t even leave their car if they don’t find the exterior appealing. The best ways to improve your home’s exterior include:

• Repairing and/or replacing trims, shutters, gutters, shingles, mailboxes, window screens, walkways and the driveway.
• Painting siding, trim and shutters and lamp and mailbox posts.
• Pressure washing vinyl siding, roofs, walkways and the driveway.
• Washing windows.

Tip #2: Spruce up the lawn and landscape
Home buyers associate the condition of your lawn and landscaping with the condition of your home’s interior. By improving the outside, you affect buyers’ impression of the entire property. The best ways to enhance the yard include:

• Mowing and edging the lawn.
• Seeding, fertilizing and weeding the lawn.
• Keeping up with regular lawn maintenance by frequent watering.
• Trimming and/or removing overgrown trees, shrubs and hedges.
• Weeding and mulching plant beds.
• Planting colorful seasonal flowers in existing plant beds.
• Removing trash, especially along fences and underneath hedges.
• Sweeping and weeding the street curb along your property.

Tip #3: Create an inviting entrance
The front door to your home should invite buyers to enter. The best ways to improve your entry include:

• Painting the front door in a glossy, cheerful color that complements the exterior.
• Cleaning, polishing and/or replacing the door knocker, locks and handles.
• Repairing and/or replacing the screen door, the doorbell, porch lights and house numbers.
• Placing a new welcome mat and a group of seasonal potted plants and flowers by the entry.

Tip #4: Reduce clutter and furniture
A buyer cannot envision living in your home without seeing it. A home filled with clutter or even too much furniture distracts buyers from seeing how they can utilize the space your home offers. If you have limited storage space, you may want to consider renting a temporary storage unit to place items you wish to keep. The best ways to declutter your home include:

• Holding a garage sale to prepare for your move, getting rid of unnecessary items.
• Removing clutter such as books, magazines, toys, tools, supplies and unused items from counter tops, open shelves, storage closets, the garage and basements.
• Storing out-of-season clothing and shoes out of sight to make bedroom closets seem roomier.
• Removing any visibly damaged furniture.
• Organizing bookshelves, closets, cabinets and pantries. Buyers will inspect everything.
• Putting away your personal photographs, unless they showcase the home. Let buyers see themselves in your home.
• De-personalize rooms as much as you can.

Tip #5: Clean, clean, clean
The cleanliness of your home also influences a buyer’s perception of its condition. The appearance of the kitchen and bathrooms will play a considerable role in a buyer’s decision process, so pay particular attention to these areas. The best ways to improve these areas include:

• Cleaning windows, fixtures, hardware, ceiling fans, vent covers and appliances.
• Cleaning carpets, area rugs and draperies.
• Cleaning inside the refrigerator, the stove and all cabinets.
• Removing stains from carpets, floors, counters, sinks, baths, tile, walls and grout.
• Eliminating house odors, especially if you have pets.
• Considering air fresheners or potpourri.

Tip #6: Make minor repairs
The small stuff does count, especially with first-time home buyers. Without dismissing the importance of repairing major items such as a leaky roof or plumbing, you do not need to spend money on replacing these items. Instead, focus on the minor repairs that will make your home visually appealing. The best ways to improve your home include:

• Repairing ceilings and wall cracks.
• Repairing faucets, banisters, handrails, cabinets, drawers, doors, floors and tile.
• Caulking and grouting tubs, showers, sinks and tile.
• Adding fresh paint to ceilings, walls, trim, doors and cabinets.
• Tightening door handles, drawer pulls, light switches and electrical plates.
• Lubricating door hinges and locks.

Tip #7: Showcase the kitchen
The heart of any home is the kitchen. If you are going to spend any money on renovations, this is the one area where you will see the greatest return. Even with a modest budget, focusing on a few key areas can make a great difference in getting the asking price for your property. The best ways to showcase the kitchen include:

• Replacing cabinet doors and hardware.
• Installing under-cabinet lighting.
• Replacing light fixtures.
• Replacing outdated shelving with pantry and cabinet organizers to maximize space.
• Baking cookies or cupcakes for a showing, to create a homey smell.

Tip #8: Stage furniture
Furniture placement can enhance the space of your home while giving buyers an idea of how to best utilize the space with their own belongings. Take some time to rethink how different areas in your house could be used. Some ideas to think about include:

• Moving couches and chairs away from walls in your sitting and family rooms to create cozy conversational groups.
• Creating a reading corner in the master bedroom.
• Clearing an empty room to set up a reading space.
• Turning an awkward space into a home office.
• Setting the dining room table with your best china.
• Set wine glasses in front of the fireplace or next to a Jacuzzi tub.

Tip #9: Light up the house
Create a sense of openness and cheerfulness in your home through its lighting. To improve the lighting try:

• Opening shades and drapes to let the sunshine warm and brighten rooms.
• Installing brighter light bulbs in rooms that tend to be dark.
• Adding additional lamps for ambient lighting.
• Turning on all the lights for a showing.

Tip #10: Add fresh touches
You can easily add color and style to your home by adding fresh touches throughout. Some ideas to consider include:

• Placing fresh floral arrangements in the entry and master bedroom.
• Placing bowls of bright-colored fruit in the family room and the kitchen.
• Filling an empty corner with a potted leafy plant.
• Setting new hand soap in the bathrooms.
• Displaying fresh towels near sinks.

ForSaleByOwner.com presents five overlooked reasons why now is a great time to buy a house.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today’s record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system – and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines…again. Now that appraisers have more flexibility to set values that reflect the current market, today’s deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by “workforce housing” programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today’s low mortgage rates.