“Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS® today in a residential economic update at the 2009 NAR Conference & Expo”

Yun says that the First time home buyer tax credit helped bring a lot of new buyers into the market, which helped lower available inventory. A type of domino effect then occurred, when the sellers of those homes bought move-up homes. The increase in sales also helped to stabilize prices, and boosted confidence in the overall market.

This stabilization is set to continue into 2010 with the help of the extension and expansion of the tax credit. As more homes sell, the balance of supply and demand will begin to be restored. More sales will also help appraisers because there will be more comps to use in finding a value for a house, “Once appraisals improve, foreclosures will ease, blunting their drag on the market and making it less likely that Fannie Mae, Freddie Mac, and even FHA will need help from the taxpayer.”

Read the full REALTOR® Magazine article here.

Many people think that November and December are bad times to list their house, but I have a few reasons why NOW might be the right time for you.

1. There is less competition for buyers
2. If buyers are out looking at houses in the snow, they’re probably more serious!
3. Holiday Decorations make your house look even prettier than normal
4. People really will understand if you need to turn down a showing because of a family event
5. Buyers are on vacation and kids are out of school, so they have more time to look at homes
6. Many businesses transfer their employees during January, and you need to be on the market to capture those buyers.
7. You may have fewer showings, therefore less inconvenience to you, BUT keep in mind, those coming to see the house are more likely serious about buying
8. Interest rates are at an all-time low
9. Your house is already clean because of family gatherings
10. Consumer confidence is on the rise
11. You can use ME as your Realtor!! Call me today to ask me about my marketing plan.

Zionsville is located just NorthWest of Indianapolis, just north of the 465 loop. Easy access to I-65 and the 465 loop and a commute time to downtown of about 20 minutes makes Zionsville a popular location. People like to use words like cozy, artsy and unique when talking about this suburb of Indy in Boone County.

Town of Zionsville Website

BusinessWeek rated Zionsville as Indiana’s ‘Best Affordable Suburb’ in 2009.

As of today, there are 295 Active listings in Zionsville according to MIBOR. The homes range in price from $124,900 for a 1,008 SqFt ranch built in 1970 to a $5,897,000 gated estate on 48 acres.

If you live in Zionsville, please add your comments! If you have any questions about the area, I would be happy to answer them!

Great news! Read the full article and see the video here at Realtor.org

Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®.

Fannie Mae has introduced a new program called Deed-for-Lease™ (D4L). The Deed-for-Lease Program allows homeowners who are facing foreclosure a way to stay in their homes as renters instead of losing the home completely.

The Program allows qualified borrowers to transer the property back to Fannie Mae through a deed-in-lieu of foreclosure (DIL) and then stay in their home as tenents. Borrowers facing the fear that they can’t pay their mortgage need to get in contact with their lender and ask if they qualify for this program. If they determine that you qualify, you must be able to pay a fair market rent, not to exceed 31% of your monthly gross income.

For more information, click here to visit Fannie Mae’s official site.

Just one more reason why it is so important that your home is listed with a company and an agent that understands the importance of the internet, and will get your house listed on every site she can!

Home Buyers and Sellers Stat
Locally, 29 percent of home buyers first learn about the home they purchase from a real estate professional; 33 percent first learn about the home they purchase through the Internet. This data is a finding of the 2008 Central Indiana Profile of Buyers and Sellers commissioned by MIBOR.

Late last week we learned that the Senate had ok’d a bill that would extend and expand the $8000 home buyer tax credit. Today we are hearing reports that the House is also expected to support this legislation.

Read my previous post about the Senate proposal here.

For more info on the House decision, click here.

Join me at my office tomorrow, November 4th from 4-7pm as we formally welcome our new manager, Dave Danz!

• Carpenter Avon East Office Open House
• November 4
• 4-7pm
• 10332 East US 36, Avon (Behind Best Buy)

We will be serving snacks and having a great time, please stop by to say hello!

News outlets have reported that the Senate is planning to extend and expand the $8000 First Time Home Buyer’s Tax Credit. This has NOT been passed yet. The House and President also need to agree before this bill would be passed.

The proposal would not only extend the timeframe of the current tax credit (which is set to expire on November 30th) but also add a $6500 tax credit for people who buy a new home and have lived in their current home for at least 5 years. The Senate proposal would also raise the income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000. If this bill passes, buyers will need to have an accepted Purcahse Agreement by April 30, but they will have until June 30 to close.

Avon is just west of Indianapolis in Hendricks County. Approx. mileage to downtown is 13.4 miles. Incorporated just recently in 1996, Avon developed around the intersection of a major US highway (US 36) and a major Indiana roadway (SR 267).

Avon Schools: Avon offers 6 Elementary school, 2 Intermediate schools, 2 Middle and 1 High school. You can visit http://greatschools.net for parent reviews, tests scores and more school stats.

Businesses: There are plenty of dining and shopping opportunities in Avon, mostly along US36. The Big Four CSX Railyard located in Avon provides further incentive for economic development in the area.

Transportation: Along with the CSX Railyard which provides frieght service, Avon also provides easy access to the main interstates that run through Indiana. It is centrally located between three major interstate highways: I-74, I-70 and I-65. The Indianapolis beltway (I-465) easily connects you to any side of Indy. The Indianapolis International Airport is a quick 15 minutes away.

Housing/ Real Estate: Avon has a wide variety of housing options. Currently there are 445 residential listings available on the market ranging in price from $69,000 to $1,299,000.

For more information about Avon, please visit the Town’s website by clicking here.