Let's Talk About It

The legislation that recently enacted that gives first time home buyers up to a $7,500 tax credit may be a good idea for some, but for many home buyers, it may be a catastrophe waiting to happen.

In a nutshell, a first time home buyer can receive up to a $7,500 no interest loan that is to be repaid over 15 years. Sounds good, right? Well, if you sell your home anytime prior to the loan being repaid, you will be required to pay the balance out of any equity you have in the home at closing.

Here is a link to a brochure and FAQ's about the program.

Here is a link to a good Q and A web site that should help you decide if this is a good idea for you.

Most lenders have already passed a "drop dead" date for their FHA loans using seller contributed funds using a non-profit organization.

There are still a couple that are doing loans using the program and have not set a date yet for a rate lock.

If a buyer is thinking of buying a home using a FHA loan and seller contributed funds...they must make contact with a Realtor and mortgage person ASAP.

Many of my potential home buyers have been waiting for prices to continue to drop.  However, there is new information that may affect your ability to purchase a home in today's market.

On Sept 29th, 2008, the most popular down payment assistance programs where you can receive up to 10% of the home's value to be used for your down payment and closing cost is being eliminated.  Most banks are stopping this on the Sept 15th.

While prices may be coming down, it is highly unlikely that it will come down more than what you will receive by taking advantage of this program.

This program is for FHA Loans. But, if you want to take advantage of this program before the Sept 15th deadline, we have to act now.

Please click the link below to begin speaking to a mortgage representative to get started.  You have nothing to lose and a down payment to gain.

Thank you and call me with any questions. Click this link to begin the process.

Some real estate agents absolutely hate giving any of their commission up. I am finding that in today's slow real estate market, we need to be aware of what home buyers and sellers are feeling. Sometimes we have to think outside the box to keep our business moving forward. That is why from now through the end of the year, I am offering home buyers a rebate. The amount depends on the sale price of the home. Details are below.

There are plenty of homes available and tons of "good deals" just waiting to be had right now. Usually during the fall season, home sellers are willing to negotiate a better deal because they want to get the home sold before cold weather and the holidays.

This is why I am making a special offer to you. Purchase a home with me and receive a cash rebate after closing to use anyway you need to...buy some new window coverings, buy the paint to cover up the purple walls...whatever you need, or just put it away for a rainy day.

Here is my offer.

I have to say that the new Lucas Oil Stadium is one beautiful piece of construction and some of the views are breathtaking, however, I believe that the city and the Colts really misfired tonight during the "unveiling" of the facility.

For weeks now, we have seen sneak previews on all the news programs, pictures plastered all over the print newspaper, all building up to the Grand Unveiling before an invitation only crowd. They missed the mark.

First, the "invitation only" tickets were too expensive for the average person to even consider; $250.00 per person. I don't know what the actual attendance was, but I would speculate there were far fewer than 1,000 in attendance. The tickets should have been much more affordable, say in the $25 to $50 range which would have multiplied the attendance 10 fold.

Second, the entertainment was far from the "gala" event that was promised. I think it is admirable that they invited the 11 year old (very talented) girl and the youth choir from Ft. Wayne to perform, but Stephen Stills...come on, he is 30 years past his prime. There should have been a major entertainer to headline the show.

Joe Theismann as MC? Couldn't they do better than that? And what was up with the Storm Troopers?

I think the highlight of the evening was the youth choir's rendition of Ray Charles' "America".

The fireworks only smoked up the new building. Why was there not a spectacular laser light show? Why were the lights off for most of the evening? The whole show should have been a culmination to a day long build up to the event. Where was the tailgate parties and the street fairs?

Mr. Lucas, you and the city of Indianapolis really missed an opportunity to showcase your new stadium. This evenings gala left much to be desired and I am disappointed that it did not live up to the extremely high standards set by the architects, contractors and others who labored long hours to build such a beautiful building. This evening did very little to generate interest and appreciation for the building.

You can still buy a home today. There, with that out of the way, I can vent a little.

I am getting more and more frustrated with lenders tightening the purse strings, especially for the "good" buyers and homes that are priced well.

The lenders are constantly changing the rules, adding little hoops and hurdles for the buyer. The appraisers are being even more conservative with their appraisals.

I have no problem with being responsible, but everyone of us in this business, whether you are a Realtor, mortgage person, appraiser, underwriter or whatever your role, WE ARE WORKING FOR THE CUSTOMER AND OWE THEM HONEST AND FAIR DEALING.

Mr. Appraiser, my buyer is paying you for a service...don't look at the purchase agreement and give us an appraisal that equals our purchase price; give them a fair market value for the property they are purchasing.