Halloween Pumpkin Facts!

Pumpkin's Roots

Pumpkins have inhabited the planet for thousands of years. They originated in Central America. They were used then (and now) as a food crop. Over the course of centuries, pumpkins spread their vines across all of North and South America. When Europeans arrived in the New World, they found pumpkins plentiful and used in cooking by Native Americans. They took seeds back to Europe where they quickly became popular. Pumpkin recipes

Did you Know? There are no words in the dictionary that rhyme with orange? Hard to believe for such an important color? The same is true for the colors purple and silver. But, who cares about silver and purple...they are not pumpkin colors!

Growing big pumpkins is a big time hobby. And, serious at that. Top prize money for the biggest giant pumpkin is as much as $25,000 dollars at fall festivals. The current world record for giant pumpkins is 1446 pounds. Now that's a lot of pumpkin pies! See the current world record pumpkin.

Can You Afford to Buy a House?

By Michele Dawson

Although the thought of paying a mortgage is more enticing than paying rent, it's important to understand all the costs involved in buying and owning a home as you determine whether you can afford to join the ranks of homeowners.

Potential buyers sometimes forget to factor in the down payment, homeowners insurance and the possibility of depreciation, as well as the costs associated with closing the transaction, moving, purchasing major appliances, and home, landscape and pool maintenance, not to mention furnishings and design accessories once you move in.

The days of calling up the landlord to fix your problems come to an abrupt halt when you're a homeowner. You'll be responsible for everything from malfunctioning appliances to leaky faucets to broken heating and air conditioning units and everything in between. And if you buy an older home, you'll probably eventually encounter costly repairs, such as replacing the roof or windows.

To determine whether you can afford to buy a home, you should do the following:

1. Determine the property value of homes that interest you. The property value (what the home is worth) is determined by comparing the prices of homes recently sold of similar size in the same neighborhood. Your real estate agent will be able to provide this information to you.

2. Review different mortgage loan types and compare their required down payment amounts to the money you have available. Down payments, based on a percentage of the value of the property and determined by the type of mortgage you select, typically range from three to 20 percent of the property value. Don't forget to factor in private mortgage insurance, a policy that allows mortgage lenders to recover part of their financial losses if a borrower fails to full re-pay a loan. Mortgage insurance makes it possible to buy a home with as little as 3 percent down. Usually, the lower the down payment, the higher the PMI, which typically will cost somewhere between $40 and $125 a month.

3. Get an estimate of your closing costs, including points (the dollar amount paid to a lender for obtaining a lower interest rate on a loan—one point is one percent of the loan amount), taxes, recording, inspections, prepaid loan interest, title insurance (a policy that insures a home buyer against errors in the title search; cost of the policy is usually a function of the value of the property, and is often borne by the purchaser and/or seller) and financing costs from your mortgage lender or a real estate professional. These will generally add up to between 2 and 7 percent of the property value. You'll receive an estimate of these costs from your lender after you apply for a mortgage.

4. Add the down payment requirements and the closing costs together to determine the amount of money you'll need right off the bat. But you're not done yet.

5. Think about the actual move. Will you hire a moving company or rent a truck? Either way will cost you. The more stuff you have, the more it will cost.

6. Property taxes. Many lenders will require an impound account in which monthly payments for property tax (and often insurance) are paid together with the monthly mortgage payment. You can figure your average annual tax rate will be about 1.5 percent of the purchase price of your home.

7. Next, budget for maintenance and repairs.

Once you crunch the numbers and find you come up a bit short, investigate ways to reduce or creatively fund your down payment—it can come from a variety of sources. Check with your realtor or lender to find out what's available.

You'll also need to factor in the cost of homeowners insurance. In addition to the type of construction, age of the home, your credit history and past insurance history, new issues like litigating costly toxic mold cases are raising homeowners insurance rates.

In fact, the National Association of Insurance Commissioners reports that homeowners will spent an average of $822 on homeowners insurance in 2007, the last year data was available.

In your final analysis of whether you can afford to buy a home, you'll want to weigh the costs with the financial benefits—a consistent mortgage payment (unlike rent, which can increase), the tax benefits (you can deduct, in most cases, mortgage interest, closing costs, and property taxes), and the all-important appreciation factor—the rate of increase in a home's value.

And of course, you'll want to weigh perhaps the biggest benefit of all—having a place to call your own.

Copyright © by Realty Times

Mortgage Rates Fall to 4-Month Low

Mortgage Rates, Real Estate News 

  |  

Oct 24, 2013 

  |  

By: Neal J. Leitereg

  |  

 

PREV

|

NEXT

25

Key fixed-mortgage rates fell to their lowest levels in four months this week, with further declines predicted in the short term.

The federal government’s shutdown and ongoing concerns with the economy’s recovery, particularly the Federal Reserve’s decision to continue its bond-buying stimulus program, were cited as factors in the declines of the key mortgage rates.

The drop in rates comes after the federal government shutdown drew to a close last week. Averages on fixed-rate mortgage previously spiked by more than a percentage point since early May; however, both the 30-year and 15-year fixed-rate loans are now trending at their lowest levels since June 20.

The average rate on a 30-year fixed-rate mortgage saw a 0.15 percentage point decrease over the last week, according to the latest survey by mortgage buyer Freddie Mac. The rate is currently trending at 4.13 percent, down from last week’s 4.28 percent. A year ago, the average on a 30-year fixed mortgage was 3.41 percent.

The average rate on a 15-year fixed loan saw a decrease of 0.09 percentage point, dropping from 3.33 percent to 3.24 percent week over week. Compared to a year ago, the 15-year fixed has gained 0.52 percentage point. It previously peaked in August, hitting a high of 3.6 percent, and has remained above the 3.00 percent mark since early June.

“Mortgage rates slid this week as the partial government shutdown led to market speculation that the Federal Reserve will not alter its bond purchases this year,” Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement.

Following a 0.02 percentage point increase a week ago, the average rate on a five-year adjustable-rate mortgage saw a slight drop. Previously at 3.07 percent, the five-year ARM settled at 3.00 percent this week. The one-year ARM also registered a decline, falling 0.03 percentage point from 2.63 percent to 2.60 percent this week.

Sales of existing homes saw a 2 percent decline in September from the previous month, according to October datareleased by the National Association of Realtors. However, sales of existing homes have increased 11 percent year-over-year. First-time homebuyers represented 28 percent of the real estate purchases while 39 percent of the homes sold in September were on the market for less than a month.

Looking ahead, homebuyers hoping to lock in a lower rate may want to hold off for a week or two. In the latestMortgage Rate Trend Index, 77 percent of the analysts and loan experts polled believe that mortgage rates will continue to trend downward.

“Mortgages have improved greatly over the last week. Bond-market participants now think any tapering by the [Federal Reserve] has been pushed back to well into 2014,” opined WCS Funding Group mortgage banker Michael Becker. “I think the weak employment report of this week only reinforced that sentiment. Because of this, I expect bonds to rally and mortgage rates to improve slightly in the coming week.”

NEW LISTING in Brownsburg, IN

JUST LISTED!
Beautiful all brick ranch in popular Brownsburg Northern Acres addition.  This home has 3 bedrooms, 2 full baths, eat-in kitchen and much more.  The homeowner pride is evident throughout with all of the updates and well maintained features.  There is a wonderful screened porch that overlooks the nice sized yard with a privacy fence and mature trees.  You won't want to miss this home, it won't last long!  Please give me a call if you would like a private showing (317) 966-1790.

All you Need is Chocolate!!

Tips for a First-Time Home Buyer

1. Check the selling price of comparable homes in your area.
2. See what you can afford.  Work with local mortgage lenders to give you an idea of the price of home that would fit for your income.
3. Find out what your total monthly housing costs would be, including tax and homeowners insurance.
4. Find out how much you'll likely pay in closing costs.
5. Look at your budget and determine how a house fits into it.  Fannie Mae recommends that buyers spend no more than 28% of their income on housing costs.
6. Talk to reputable real-estate agents in your area about the real-estate climate.  (This is something I can certainly do for you- just give me a call (317)966-1790.)
The above information was taken from MSN Real Estate.

Heartland Film Festival

The 22nd annual Heartland Film Festival begins on Thursday, Oct. 17, 2013 and continues daily through Oct. 26. Some 275 film screenings are scheduled at AMC Castleton Square 14, AMC Showplace Traders Point 12, and the theatre at Wheeler Arts Community in Fountain Square. There's also a variety of other activities including Q&A sessions with the filmmakers, panel discussions, and several special events. Advance tickets are available at Marsh Supermarket. For more information, visit http://www.trulymovingpictures.org/heartland-film-festival/, or call 317-464-9405. Heartland Film Festival on AroundIndy.com...

Existing Home Sales Hit High

Existing-home sales hit their highest level in 6 1/2 years in August, as fast-rising mortgage rates pushed buyers to close deals, the National Association of Realtors (NAR) reported today.
Existing-home sales rose 1.7 percent to a seasonally adjusted annual rate of 5.48 million in August from 5.39 million in July, and were up 13.2 percent annually, according to NAR.
“Rising mortgage interest rates pushed more buyers to close deals, but monthly sales are likely to be uneven in the months ahead from several market frictions,” said NAR Chief Economist Lawrence Yun. “Tight inventory is limiting choices in many areas, higher mortgage interest rates mean affordability isn’t as favorable as it was, and restrictive mortgage lending standards are keeping some otherwise qualified buyers from completing a purchase.”
Existing-home inventory at the end of August increased 0.4  percent to 2.25 million homes, representing a 4.9-month supply of homes at the current rate of home sales, NAR said.
That’s down from a five-month supply in July and a six-month supply a year before, the trade group said.
- See more at: http://www.inman.com/2013/09/19/existing-home-sales-hit-highest-level-in-6-5-years/#sthash.2tTzfXOu.dpuf

Open House on Sunday

Come to the open house I am hosting this Sunday, October 20th from 12:00 to 2:00pm at 4914 Franklin Villas Drive, Indianapolis, IN.  It's a spacious 3 bedroom with two full baths.  The great room has a double sided fireplace and would be great for entertaining. 

Want to Sell the Home Faster? Stage it First, Study Says

By Melissa Dittmann Tracey
You hear the message a lot in the real estate industry: Staging can help get a home sold faster and for more money. But convincing customers of that — particularly if it means fronting some money on their end — is not always easy.
The Real Estate Staging Association, a trade association for the staging industry, recently released some findings from a study using data from January 2012 to December 2012 that back up that message.
RESA studied 89 homes that were previously on the market that were not staged. The unstaged homes remained on the market for 166 days, on average, before the home owners called in a professional stager.
After the homes were staged, the homes received their first offer within 32 days, the study found. What’s more, nine of those homes received multiple offers.

Children's Museum Haunted House!

10/16/2013 through 10/31/2013The Children's Museum of Indianapolis
3000 N. Meridian St., Indianapolis, IN 46206 | view on map
Event phone: 317-334-3322
Event web site: http://www.childrensmuseum.org/hauntedhouse
Tickets phone: 317-334-4000

This year marks the 50th anniversary of The Children's Museum Guild's Haunted House, the oldest continually operating haunted house in the nation! The Haunted House is a fundraiser for the museum, raising more than $8.5 million since it began in 1964. This year, join your ghoulish guide Dr. Timestein for an awfully amazing journey back in time as you explore five "deadcades" of movies, music, television, and history through a terrifying Time Warp! The entire museum is celebrating this thrilling, chilling adventure - 50 Years of Fear!

Buy Now

Why it Might Be Cheaper to Buy Now

Daily Real Estate News | Thursday, October 10, 2013

Mortgage rates are nearing the 5 percent mark, prompting many home buyers to rush to take advantage of rates while they’re still low.
“Most people agree it is only a matter of time before rates hit 5 percent,” Peter Grabel, a mortgage loan originator at Luxury Mortgage Corp. in Stamford, Conn., told realtor.com®. “The housing market has clearly turned the corner in most areas. I think a year from now, people will look back and realize that this was a great buying opportunity.”
Some forecasts show rates could edge even higher to 5.5 percent or even 6 percent in 2014. The Federal Reserve has announced that it will soon start tapering its $85 billion monthly bond-purchasing program, which is expected to send mortgage rates rising from recent record lows. 

Great Broad Ripple Home for Sale

Keller Williams Indy Metro Pro team member Erin Dunn-Vance has a great home in Broad Ripple listed for $127,900.  This three bedroom home has charm and style throughout and is move in ready.  There are hardwood floors, a modern kitchen with tile, stainless steel appliances, and contemporary countertops and cabinets.  It is located only two block from the Monon and a short bike ride to the Broad Ripple Farmer's Market.  Check out the details and schedule a time when we can take you through this great home.  http://www.eproptours.com/tour/play.htm?vic

A Red Front Door Can Symbolize Many Things

In Scotland, homeowners paint their front door red when they pay off their mortgage.  Throughout history, a red front door has symbolized many things - the ancient Hebrews believed it would protect firstborn children from the angel of death; in the early days of America, it meant the home was a safe place for travelers to stop for the night.  And according to feng shui, a red front door invites positive energy into a home.

The Keller Williams Realty Real Estate Search Mobile App

So simple to use - just go to your Apps Store and download the free Keller Williams Realty app.  Use my agent code: KW2BZBYTQ and you will be on your way to a fun and exciting app to help you search for homes in your desired area.  ENJOY!!

2013 Midwest National Abstract Art Exhibition IX

The Southside Art League presents the Midwest National Abstract Art Show.  This show runs from September 28 through October 26, 2013.  The exhibit is located at the Garfield Park Arts Center, Indianapolis, IN.  The hours for you to view the amazing art is: Tuesday - Thursday 3pm-9pm, Fridays 10am - 3pm, and Saturday 9am - 4pm. 

Barbara Dunn Stear ( our own Keller Williams realtor)

Beverly Mathis

FHA Will Keep Lending During Shutdown

 Applications for all government-backed mortgages will continue to be processed during a government shutdown according to the US Dept. of Housing and Urban development.

HUD originally said on Friday that it would stop working on applications for loans guaranteed by the Federal Housing Administration if the lights go out in Washington.  But it reversed that position over the weekend.
"The HUD Contingency plan posted on Friday mistakenly included incorrect information about a potential shutdown's impact on the FHA single-family loan program," HUD said in a statement. "FHA will be able to endorse single family loans during the shutdown. A limited number of FHA staff will be available to underwrite and approve new loans."

Newer Listing in Center Grove Area, Greenwood, IN

Metro Indy Pros team member Erin Dunn Vance has this Center Grove listing for $179,900.  It's located in Center Grove, Bradford Place addition.  With a little over 2,000 square feet, 3 bedrooms, loft area, 2.5 bath and a 3 car garage it is priced to sell.  For a virtual tour of the home visit: http://4811oaktonway.eproptours.com