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.

It appears that a lot of people find my blog by searching for “the best Indianapolis Suburbs”, so I am beginning a new series of posts highlighting the stats of each Indy suburb. I would love for you to chime in with your questions and requests, or opinions on each area!

Look for my first Indy’s Best Suburbs Series post in a few days!

With just over a month left go to if you want to be able to claim an $8,000 tax credit, many are talking about extending the program. Some people think the recent uptick in the market is due to this credit, and fear that letting it expire will mean the end of the recovery. According to industry news, some lawmakers are not only tyring to extend the program’s timeline, but also it’s reach.

Many Realtors are using the November 30th deadline to create a sense of urgency in their buyers, but what happens when the credit is over? If it is extended will buyers who went through with the purchase feel cheated? They rushed to close the purchase on time, and then they find out they could have had more time, or even more money?

Nobody knows right now for sure what will happen. I don’t think the credit will be extended, even though I would like if it were. I know that if it truly does end, the market will feel a little bit of a letdown, but I hope that will be short lived. The National Association of Realtors is lobbying to keep the credit going!

What do you think? Should they extend the tax credit? Make it bigger? What do you think will happen if it is gone, or if they do decide to extend it? I would love to hear your thoughts!

For the National Association of Realtors’ take on the issue, read Lawrence Yun’s article here.

I’ve seen in newspaper articles that some home sellers in California or Florida are now including a Mercedes (or other high priced perks) in the sale of the house. Here in Indiana, sellers might not be willing to go that far, but there are some incentives that can be given to the buyer to help sell your home more quickly. Sometimes it takes a little more than another price reduction.

The most common incentives in our area right now are home warranties and seller paid closing costs. I always suggest that my sellers sign up for a home warranty. Buyers are being counselled by their agents to ask for a warranty, so I feel that the seller should put one in place early so that they can take advantage of it if something should go wrong while the home is listed. I have seen many sellers save money by signing up for a home warranty, of course the buyer is happy too!

Many buyers are also asking for closing costs, and it is becoming more common for them to ask for about 3% of the purchase price to help. This is most common with first-time buyers, so if your home is priced in a good range for a first-time buyer, it is good for you to know the offer you get might include this concession.

In this market, it might be beneficial to think outside the box and offer even more to the buyer to get your home sold. Think about what you do for a living. I once had a seller who owned his own lawncare company, it was easy for him to offer free weed and feed treatments for a full season to the buyer of his Camby home. Lawncare is an easy and impressive incentive that isn’t a budget breaker.

Here are some more ideas of incentives that you could offer to encourage buyers to make an offer on your home:

• HOA dues paid for the next year
• Does the buyer have children? Offer a playset or pay for summer camp
• If you have a pool- offer pool service
• gift certificates to a spa
• Live downtown? Offer a bus pass
• How about a snow blower or lawnmower
• Own a vacation home or timeshare? You could offer a stay for 1 week
• Gym membership
• Golf community? Offer a gift certificate to the pro shop or lessons
• Season tickets are always valued
• Does the home need some TLC? A gift card for a home improvement store
• Maid service (I want this one!!)

These are just some ideas to help get the conversation opened up. If you are really serous about getting your home sold and feel that offering more might help, you can try any of these.

According to yesterday’s Hendricks County Flyer, the Spring tax bills are finally being mailed. Yes, the bills that are normally due in May are just now being sent out. They will be due in September. Attached to the Spring bill, you will also find the Fall bill, which will be due in November.

The latest National Association of Realtors survey shows that sales in existing homes are up about 3.8%. The national average home price has declined, which has led to more affordablility for more people. Not only have sales risen, but the increase seems like it will be a stabilizing force for the economy.

“Given the need for related goods and services, each home sale pumps an additional $63,000 into the economy – that’s how the housing engine traditionally pulls us out of recession. In addition, sales are drawing down inventory and that will help stabilize home values, which in turn will lessen foreclosure pressure and boost credit availability for other sectors of the economy.”
Lawrence Yun, NAR chief economist

Read the article from Realtor Magazine here!