5th Annual Brides to Be Expo!

Looking for something to do on a Saturday in Feb? Want to get ready for Valentines day?Winter getting you down? Getting married soon or just love being around all of the wedding FUN? Come out on Saturday the 12th of Feb to see what is new for the Brides to Be.  There will be doorprizes!! You know we all love free stuff!! See you there! When: 02/12/11 Time: 10:00-2:00pm Where: Primo in Plainfield

What’s in a Credit Score Anyway?

In order to qualify for a mortgage, we need to let the professionals take a look at our credit and our credit score. Before they take a look…… shouldn’t we look at our own credit? Do you know what it takes to get your credit score where it needs to be in order to have a favorable outcome from that meeting with the lender?  You need to be aware of what your credit score is before the meeting.

From time to time most of us think about, if not worry about, our credit score. So…what is it, how important is it….and how can we get it to be the best that it can be?! Here are a few facts about credit scores and how to improve them.

What is a credit score?

A credit score or FICO is a numeric expression of a persons credit file, which represents the credit worthiness of that person. A credit score is primarily based on credit report information which is usually gathered from credit bureaus.  A score is usually between 300-800.  Higher=better!

How Important is your credit score?

Your credit score tells the lender the likelihood of your paying them back the money you want to borrow…so I would say that it is VERY important…to you and the lender.

What can you do to move those numbers UP?

First off if you have had any credit problems in the past you need to be prepared to discuss them openly and honestly with your mortgage professional.  Experienced professionals know that there can be reasons behind credit issues and are ready to listen and offer any help that may make the process easier…but they cannot help if they are not aware of the problems. Make sure to talk to your mortgage professional honestly about any credit issues you have had, even if you think they are not important, let them decide. It is much better to deal with the issues before going through all of the paper work.

If you have had credit issues but have been working on them and have had on time payments for a year or longer then your credit may be satisfactory. Do not think just because you have had issues that you cannot get qualified! Ask a professional.

Excess debt can be an issue for your credit score.  Some ways to help  get rid of that excess debt quickly is to make some hard choices! You may consider selling your second car and using the money to pay off debt…or you can lower your monthly entertainment budget, maybe even get rid of it altogether for a while, and with the extra money each month pay some bills twice. Make sure to never pay just the minimum on credit cards or any kind of revolving credit.  Hold a garage sale and again….proceeds go to bills. Not just the monthly payment…more. And pay as early as possible each month so as to avoid extra interest, most companies calculate interest on a daily basis so the earlier you pay the less interest you pay.

Make sure you are not late any month! You do not want any 30 days late on your credit report.This makes a difference in calculating your score. As does your debt compared to your earnings.  Your debt ratio needs to be in balance. Make sure what you have coming in is greater than what you have going out in bills.

**There are several places on the net where you can go to get a free copy of your credit report. A simple search in your favorite search engine will produce a few sites. Take your pick and see what your score is today! If there are any problems within your report that you disagree with, do not be shy about letting the Bureaus know about it. If you go to one of the main 3 bureaus sites you can fill out online disputes and have them take a look.  It is your credit history, if you do not protect it….who will?

Have more questions about credit scores or mortgages…please call Chris today! 317 271-1700

Avon Christmas Tree Lighting

Avon Annual Christmas Tree Lighting Saturday, December 4, 2010 6pm – 7pm Avon Town Hall Come out  for the annual lighting of the Avon Christmas Tree!  The Emcee for the night is Bruce Kopp from WTHR . Bring a canned food item for Project ANGEL! Hope to see you there!

Sales tax on real estate… True or False?

Currently there is a lot of chatter and a lot of misconstrued emails going around regarding the imposed sales tax on the sale of real property. There is some truth to this, but there are certain limitations and guidelines that apply. Barack Obama did promise that “Change is Coming….”

This change can be found in the President’s health care and Medicare overhaul plan. This new tax passed by congress in 2010 has the intent of generating an estimated $210 billion.

Please understand that this tax will NOT affect all real estate transactions. The tax will fall only on individuals with an AGI of $200,000 and couples filing joint with a joint return with more that $250,000.

Once this goes into effect in 2013, it may impose a 3.8% tax on some but NOT all income from interest, dividends, rents (less expenses) and capital gains (less capital loss). If you fall into these income limitations and may be subject to this tax, please make sure to seek counsel with your real estate agent, accountant and or your qualified financial planner. www.chriscastetter.com

Avon Indiana real estate, by Chris Castetter

Central Indiana home sales down for the month, but only off 6.1 percent

Despite decrease in sales, homes are selling faster than last year at higher prices

AVON, Indiana / INDIANAPOLIS – Hancock, Morgan and Shelby counties all showed an increase in pended home sales last month compared to September 2009, while overall home sales in the nine-county Central Indiana region were down slightly by 6.1 percent for the year, according to sales statistics compiled by F.C. Tucker Company. Meanwhile, September 2010 home sales were off -22.8 percent compared to September 2009.

On a year-to-date basis, 18,028 homes have pended in the region through September, compared to 19,204 homes pended through September 2009. More homes are on the market in the $299,999 and under price range, while inventory is tightening slightly at prices of $300,000 and above.

Overall, more homes were on the market last month compared to September 2009, with the number of listings up slightly at 1.7 percent with 16,336 homes for sale. Hendricks and Boone counties experienced inventory increases of more than 10 percent. Madison, Marion and Morgan counties had fewer homes for sale in September 2010 than in September 2009.

The average sales price for homes in Central Indiana is up 8.1 percent year-to-date, for an average of $149,639. Of the 1,725 pended homes in the region last month, 31 were priced at $500,000 or more; 94 were priced at $300,000 to $499,999; and 1,600 were priced at $299,999 or less.

Good news for the Central Indiana housing market, average days homes for sale stayed on the market decreased in all nine counties in September. On average, homes were on the market for 83 days year-to-date through September 2010 compared to 90 days year-to-date through September 2009. Shelby, Boone and Johnson counties experienced the biggest decrease in days on the market, selling on average 12 days faster than last year.

“As the nation addresses the foreclosure crisis, we are closely watching the local impact,” said Jim Litten, president of F.C. Tucker Company. “The fourth quarter of the year is a natural slowing of real estate activity, but I am convinced home prices have hit bottom and are on the way up.”

Quick Links:

Pended single-family and condominium home sales

Active Listings – Inventory

Average Sale Price

***SPOTLIGHT***

***SPOTLIGHT*** home of the week! 7670 Larkspur Dr. Stunning french country home with 4 bedrooms, 4 baths and 4660 Sq Ft which includes a finished basement! Over 1 acre of wooded land with a creek! Wish to see this rare find in Avon?! Contact me today!

Come home to Plainfield!

‎***SPOTLIGHT*** home of the week!

Welcome home to 203 Andrews… a beautiful home located in The White Lick Community of Plainfield! This home has 1314 Sq Ft. This spacious 2 bedroom, 2 bath end unit is custom built with trey ceilings in the great room and master bedroom! PLUS a quaint sunroom off the kitchen!Move in READY! A must see!Make an appointment today!

PICTURE COMING SOON!