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Some
National Home prices.
Existing Home Sales
Median Pricing was calculated from
January 2007 to September 2007 vs. 2006 12 months median pricing.
US:
$ 219,822 vs. $221,900 in 2006 a small
drop of about .94%
Northeast:
$277,266 vs. $271,900 in 2006 a increase
of 1.97%
Midwest:
$166,667 vs. $167,800 in 2006 a small drop
of about .68%
South:
$180,989 vs. $183,700 in 2006 a drop of
about 1.47%
North:
$335,200 VS. $342,700 IN 2006 a drop of
about 2.19%
Existing Single Family home Pricing
vs. Condo Pricing
Single Family home pricing US only
$218,967 vs. $221,900 a drop in pricing of
about 1.32%
Condo pricing US only
$225,800 vs. $221,900 an increase of about
1.72%
Look what is being bought in the US, the
market is just shifting.
****************************************************
 Tips for hiring a Contractor
Here is what
you look for or to do....
• Get at least three written estimates.
• Get at least 4 references and call to check on the work. If possible, go
by and visit earlier jobs or current jobs in progress.
• Check with the local Chamber of Commerce, Angie’s List or Better Business
Bureau or the Local licensee agency for complaints.
• Be sure that the contract states exactly what is to be done and how change
orders will be handled.
• Make as small a down payment as possible so you won’t lose a lot if the
contractor fails to complete the job. Rule of thumb is 1/3-1/3-1/3. 1/3 at
the start, 1/3 about ½ through the work, and 1/3 at the sati factional
completion of the job.
• Make sure the contractor has the necessary permits,
licenses, and insurance.
• Look for that the contract states when the work will be completed and what
recourse you have if it isn’t. Remember that in many instances you can
cancel a contract within three business days of signing it.
• Ask if the contractor using subcontractors.
• When contractors are using subcontractors ask the contractor to furnish
you with the subcontractors insurance and license information.
• Get the contractor to indemnify you if work does not meet any local
building codes or regulations.
• Have the contract specifying that the contractor will clean up after the
job and he be responsible for any damage.
• Point out any new damage immediately to the contractor.
• Guarantee that materials used meet your specifications. When you have to
go shopping with your contractor.
• Don’t make the final payment until you’re satisfied with the work.
***********************
Top 10
States in Foreclosure
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Colorado |
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Louisiana |
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Indiana |
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Georgia |
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Michigan |
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Missouri |
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Texas |
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Tennessee |
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Ohio |
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Alabama |
**********************
Keep Safe when you go Home
Shopping
Many buyers are still out looking for homes to
move in to. Maybe they are being transferred or just want to move during the
Children's' Winter Break.
The one downfall in looking for a home in the
winter is that it will get a lot sooner dark then in the summer.
Here are some very practical tips, I use myself,
for you to keep safe when you have to go look at homes after work and it is
dark.
-
Never go by yourself; bring a friend or family member
When you are working with a REALTOR meet them in their office.
When you are working with the seller directly have them meet you at a
public place.
Drive your own car to the property.
Let others, who are not going with you, know where you are going and how
long you will be gone.
Have a security word agreed on with the person who will not with you, then
when you call you can just integrate the word in to a message you are will
give to the person and they know to call 911. For instance:" I am still
busy, can you pick up my cat/dog up from the "VET" for me?
When you can avoid it, never look at any house in the dark.
When you look at a vacant home never look at the home after dark.
When you pull up to a House observe your surroundings and when you do not
feel comfortable do not get out of the car.
Be safe and happy Home hunting
SOME
LOCAL LINKS FROM OUR LOCAL IN
GREENWOOD CHAMBER
Air
Duct Cleaning
Air Cleaning Experts, Inc.
Blind
Cleaning and Sales
Indy Shades, Inc.
Carpet /
Upholstery Cleaning
http://www.americancarpets.net
Cleaning
and Janitorial Services
Merry Maids
Painting
Jahnke Painting Co.
CertaPro Painters of Indianapolis
Moving and Storage
Greenwood Moving & Storage
Two men and a Truck
1-800-PACK-RAT Portable Storage
Heating and Air Conditioning
Carls Heating Cooling
Johnson Heating & Cooling
Peterman Heating & Cooling, Inc.
Brewer Mechanical Services - Heating & Cooling
Recycling / Trash Removal
1-800-Got Junk
Ray's Trash Service
Johnson County Solid Waste
District
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Quick
word from Bettina,
(I could
not resist to put my two cents in)
Looking at everything what is going on I am
not sure why some people think think is not a good time to buy.
Sure the mortgage market has being tightened
down and some of the Mortgage companies are reporting either the closing of
their doors or the cutting of their quarterly forecasts due to losses in
their investments.
Or we have heard the stories of a mortgage
not closing or being pulled by the lender right at the closing table.
Most likely theses investments or loans where
investments and loans that should have not been made anyway.
What will this mean for today's buyer? A more
secure loan, a more honest mortgage broker and much better service and
disclosures and
many reasonable priced homes on the market.
Most of the Real Estate Companies and Banks
are sitting on a large inventory of very nice homes and the NAR forecast for
2008 is for the market to trend back up.
Bottom line is, when you like the house you
are looking at and you do have the down payment and you are comfortable with
the house payment you are paying ...go ahead and buy it.
Let me quote a favorite quote from someone I
admire and have read most of his book, Zig Zigglar
It cam out of one of his books, and now I can
not remember which one, but it referred to him asking his Mother about the
flat bisque's she was serving.
"They squatted to raise but they got cooked
in the squat".
So....Do not get cooked in the squat.......!!
Bettina Settles
**********************
Housing Market Facts
This information comes from the NAHB
Interest
Rates
If you are
worried about interest rates, consider yourself lucky to be buying a home
now rather than the 1980s or 1990s. To date, mortgage rates have averaged
6.7 percent during this decade. At that rate, the monthly principal and
interest payment for a fixed-rate, 30-year, $200,000 mortgage is $1,290.
In contrast,
the average mortgage rate during the decade of the 1990s was 8.3 percent,
bringing the monthly payment on a $200,000 loan to $1,590. During the 1980s
interest rates were even higher, averaging 11.7 percent. At that rate, the
monthly payment on a 30-year, $200,000 mortgage is $2,011 – an increase of
$700 from what you would be paying today.
********************
Population and
Household Growth
If you are
concerned about the future value of your home, consider that demand for
housing is driven primarily by two key factors – population and household
growth. The Census Bureau projects that U.S.
population growth will surge by 40 million between 2005 and 2020 and that
the number of households will jump by more than 6 million between 2005 and
2010. It is estimated that the home building industry will need to build 18
million new homes over the next decade just to keep up with population and
household growth.
Consider the
increasing scarcity of available land in metro markets where jobs are
located and where people want to live. As inventories wind down, demand will
rise and so will prices. As the economy continues go grow, create jobs and
increase household income, all these factors bodes well for future house
price appreciation
**************************************
Delinquency Rates
The overall
national delinquency rates on home loans was 5.12 percent in the second
quarter of 2007, according to the Mortgage Bankers Association. This is well
within historical norms. For example, in the past 10 years, delinquency
rates hit a national low of 4.03 percent in the first quarter of 2000 and
peaked at 5.35 percent in the third quarter of 2001.
Today, more
than 97 percent of prime borrowers – the bulk of the mortgage market – are
up-to-date on their payments. The problem is in the subprime market;
nationally, about 15 percent of subprime borrowers are behind on their
mortgage payments.
About two
million subprime loans are due to reset over the next two years. Obviously,
most of these loans won’t go into foreclosure, but it’s still a major
problem that needs to be addressed. The truth is, the vast majority of home
owners are making their mortgage payments on time and very few are in danger
of losing their homes
********************************************************************
Bettina Settles Realty LLC
Bettina Settles
Managing Broker
Office Phone:
317-508-0627,
Fax:
317-883-0830
E-Mail:
Bsettles@bettinasettlesrealty.com
Website:
www.BettinaSettlesRealty.com
Disclaimer: Any of the links
mentioned on this page are just for informational purposes only. Bettina
Settles Realty LLC is in no way shape or form responsible for any claims
made by a third party service provider.
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