Five Reasons to Buy a Home Now.

Are you considering buying a home within next few months? Or year? You may want to consider doing so now.

Current market trends are making for a very good time to buy a home. 

images-1

Here are some reasons for you to consider buying a home right now:

Low Interest Rates. According to Freddie Mac, a 30-year-fixed-rate loan now averages 4.16%. Many economists believe rates will rise to 5% next year. And, as interest rates increase, so do your monthly payments.

Ample Inventory. Nationwide, inventory is at its highest level in over a year. As more houses enter the for sale market, prices stabilize. And locally, this means you have more choices; especially if you’re looking at buying an existing home. 

Unemployment Rates Are Decreasing. After a haul of high unemployment rates, the US economy is finally adding jobs…which means the younger market of buyers, who may have been living with parents to save money until the job market and economy improves, may be able to leave the nest. This allows a group who has previously been denied the ability to buy a home to now look into that option.

Home Prices are Rising. The median price of an existing homes continues to show year-over-year price gains. Experts believe that trend will continue. You’ll want to capitalize on the home prices the market current reflects.

Rental Prices Are High. If you’re in between homes, currently renting while you search for your “forever home,” or simply renting out of necessity, you know that rent is extremely high. That said, the pure savings of locking in a low interest rate for a mortgage payment stabilizes your financial situation to avoid paying high rental rates each year.

If you’re considering buying a new home, contact me to discuss the reasons why now might be the right time for you to do so. I am an expert in this industry, and will sit down with you to discuss your specific situation and home buying options. 

 

 

 

Advertisements

Need Weekend Plans? Devour Downtown!

Have you heard about Devour Downtown?

This fun event, taking place now through Sunday the 31st, involves downtown Indianapolis restaurants who offer three-course, value priced meals. Make the most of this event during the holiday weekend!

images-2

Over 30 restaurants are part of the Devour Downtown event with delicious meals at affordable prices! Click here to see a list of restaurants participating in the event.

Have fun over Labor Day weekend enjoying these great restaurants!

OPEN HOUSE SUNDAY IN CAMBRIDGE!

Looking for a Geist waterfront home in Springs of Cambridge?

Come see this incredible six-bedroom, six-and-a-half bathroom home this Sunday, August 24th from 2 – 4 p.m.

21307411-1

10088 Springstone Road, McCordsville // Cambridge // $1,195,000

The home is over nearly 9,700 square feet and lacks no attention to detail. The home features brand-new carpet and refinished hardwood floors throughout, newly painted interior, and a two-story great room with fabulous Geist water views.

The beautiful kitchen includes stainless steel appliances, granite counters and a center island. Watch the sunsets on the water from your sunroom, or cozy up in front of one of the four fireplaces. The home includes two laundry rooms.

Love water activities? Well, this home includes a huge boat dock with two lifts, three slips and three jet ski lifts!

Relax in a spacious master suite with incredible walk-in closet. The basement makes for a great guest house featuring a full kitchen, family room, large bedroom and walk-in closet. 

Contact me for more details, or come out to see this fabulous Cambridge home this Sunday from 2 to 4. 

 

Click here to learn more about this home!

Adding Up Home Buying Expenses.

Thinking of buying a new home?

Be sure to consider the expenses involved with buying a home on top of the purchase price of the home. In addition to the basics in home buying…mortgage rates, local taxes and what your estimated buying power is, you’ll want to keep in mind some of the other costs.

images

Here are some costs to consider when budgeting to buy a home:

Moving Expenses:
– The cost of hiring a moving service to get you to your new home.
– If you’re a do-it-yourselfer, consider storage fees (for items you aren’t moving), moving truck rental, supplies and gas/mileage fees.

Service Fees:
– Buyer’s agent fee.
– Home appraisal for the home you’re looking to buy. This lets you know it’s worth the asking price.
– Home inspection. Be sure you do this step! You’ll want to be prepared for any needed updates or repairs.

PMI and Title Insurance:
– PMI (Private Mortgage Insurance) applies if you put down less than 20% of the home’s purchase price.
– Title Insurance helps you in the event you later find out someone else could lay claim to the title (meaning ownership) of the home.

Homeowners’ Insurance:
-What will your new place cost you in insurance? Get a good faith estimate from your insurance carrier.

Home Utilities/Fees:
-Electric, gas, water, sewer, home security system, HOA fees

Home Updates:
– Your inspection will lend an eye to what needs repaired (some of which won’t be handled before you buy your home), so you will want to allocate a budget for needed updates and repairs.
– Paint, replacing missing roof shingles, broken driveway concrete or wiring/plumbing concerns.While all of these things are integral parts of buying a home, it’s always good to think about them in your home buying budget. Unexpected expenses certainly crop up after purchasing a home. A rule of thumb is to budget at least 1% of your home’s purchase price annually for upgrades and maintenance of your home.If you’re in the market to buy a new home, contact me! I would love to get you started.

Community Outreach: Saving the Hearts of School Kids.

The Fishers Department of Fire and Emergency Services is partnering with HSE Schools in a fundraising project to purchase trauma kits for over 1,000 HSE District classrooms. 

How can you be a part of this great outreach program to “Protect the Heart of Fishers?”

healthy heart

Come out to Ben and Ari’s on Saturday, September 13th from 11 a.m. to 4 p.m. for Putt-ing Out the Fire, a family-fun event! Putt-ing Out the Fire features unlimited miniature golf, a dunk tank, a kids area and food. Texas Roadhouse will be serving up hot dogs, hamburgers, chips and drinks from noon to 2 p.m. 

Click here to purchase early discount tickets. Adult pre-sale tickets are $12 (or $15 at the door); children (age 12 and under) pre-sale tickets are $10 (or $12 at the door).

All event proceeds help purchase trauma kits for the classrooms of our local school children. Most school incidents are over before the emergency personnel arrive at the school, so this partnership aims at giving every classroom in the HSE School District the supplies they need in the event of a traumatic injuries, allowing for quick attention and care that currently isn’t able to be done.

Enjoy this family-friendly event for a GREAT cause!

Refinancing Your Home? Be Smart.

You may be considering refinancing your home. It can be a way to lower your monthly payment, but be careful…not all refinance deals are created equal. Sometimes you may end up paying more money in the long-run to save a few dollars on your monthly mortgage payment.

Refinancing

Here are some tips to be sure you’re getting the best deal:

Know the Interest Rates

As you know, interest rates change daily.Before you even get started looking for a lender, spend at least a few days watching the current trend of interest rates so you’re in the know about what a lender should be offering you.

Compare Brokers and Lenders

Obtain multiple offers from brokers and lenders. Even ask for a good-faith estimate so you can review not only the interest rate, but also the anticipated closing costs. Read the fine print.

Know Your Loan Type

You have two options: a fixed-rate mortgage and an adjustable rate mortgage. Before you decide on your load, be sure you understand what is involved with these two options.

A fixed-rate loan is pretty straight forward, offering a set-in-stone interest rate with your monthly mortgage payment.

The alternative, an adjustable rate mortgage loan, allows the interest rate to fluctuate over the entirety of the loan. Be sure to know the increase caps and overall ceiling of the interest rate so you aren’t surprised if it reaches that rate. It isn’t uncommon for an adjustable rate mortgage to start with a low introductory interest rate which will increase after you assume the loan.

Be Aware of Commissions and Fees

Mortgage brokers get paid commission in different ways. Typically if you hire a broker, you will pay an upfront commission of 1% to 2% of the loan. Make sure you note if they’re paid by the lender what additional processing fees may be included.

Negotiate Commission

You may not know this, but a broker’s commission can always be negotiated. Most brokers are willing to work with fair counteroffers, so if you feel the fees are too high based upon your comparative offers, you may ask for a better price. 

Understand the Closing Costs

Closing costs are simply part of a refinance. Even though these feels most likely come out of the equity of your home, try to think of these as if you were paying them out of pocket. Be sure to weigh the monthly savings versus the closing costs.

For example, if you will save $200 a month and your closing costs are $4,000, it will take at least 20 months before you break even. It’s really important to view it this way.

Caution the No-Cost Loans

Simply put, watch out for no-cost loans. No matter what, there are costs associated with your lender or broker on every loan. If they are offering to waive these fees for you, they will be somewhere within your loan in a different form. It may be that your principal will increase or your interest rate will be higher. Either way, be sure to compare all aspects of a loan before selecting one so you’re certain the refinancing option is a smart move.

If you’re looking to buy or sell a home, contact me. I know the market, the homes for sale and those coming on the market. I would love to help you sell your home, and/or find your new home.

Gorgeous Geist Waterfront Home!

 Are you looking for a waterfront home in Geist?

21301561_01485 Breakwater Drive | Breakwater // $2,099,000

This beautiful English Manor home is situated in the gated lakefront community of Breakwater, with boat dock on Geist. The builder spared no expense in attention to detail. The home is located on a private, wooded, professionally landscaped 1.5 acre lot.

Enjoy superb craftsmanship throughout the home with its open floorplan featuring 10′, 12′, and 14′ ceilings. The home includes a main level master suite with patio, a stunning mahogany library with coffered ceiling and patio.

21301561_05

Enjoy entertaining in the custom kitchen with adjacent hearth room and screened porch. The home features extensive hardwood floors.

The lower level includes a mahogany bar, stone fireplace, wine cellar, theater room, billiards room, sixth bedroom and exercise room.

Contact me to schedule a showing on this incredible Geist-front home!