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Now that we are neck deep in winter - hopefully not neck deep in snow, but maybe for some. Do you have a maintenance list to take care of your home? Did you know that there are some simple things you can do to make sure that this big investment is taken care of? Some symptoms that might be diagnosed and solved before they become serious and expensive problems.
This list is by no means complete! But hopefully it gets you started with some regular check up and maintenance items.
Often times we are in such a hurry to get into the house - we miss somethings that are happening on the exterior parts of the house.
Poke your head into the attic spaces. (These spaces should be cold - really within in about 5 degrees of the outside temp - if it’s not, you may have some insulation issues.
While you’re up there, shine a light on the upper surfaces to see if there is any moisture. This should be a dry space, if there is moisture - that’s something you’re going to want a roofer to look into. Could be ventilation issues, could be insulation issues - either way, you have issues.
Are all your outdoor lights working?
Take a peek at your exterior - does everything look ok?
Since we are kind of locked up in our houses this time of...
Central Indiana ends year with a 5.3 percent bump in December home sales
F.C. Tucker reports average year-to-date home prices continue to climb while inventory tightens
INDIANAPOLIS – F.C. Tucker Company’s monthly real estate market stats indicated a strong finish to 2016, with home sales up 5.2 percent for the year and December 2016 sales up 5.3 percent compared to December 2015. Likewise, the average year-to-date home price for the 15-county Central Indiana region rose 3.4 percent to $188,616.
Home buyers were active in December, despite the weather, and contributed to 1,851 homes sold in Central Indiana, with Putnam and Decatur Counties showing the largest increase in the number of homes sold among the suburban counties. In December, 8 of the 15 counties that F.C. Tucker tracks experienced an increase in sales. Specifically:
Mortgage insurance premiums on FHA-backed loans will be lowered by 25 basis points on loans endorsed starting January 27!
Sounds great right! - Now you ask, what does that mean? Well for starters is will mean more borrowers are eligible to purchase a home through FHA. Basically - it won’t cost you as much on the monthly payment due to the Mortgage Insurance required on an FHA loan - this could translate to a savings to the average home buyer by as much as $500 per year.
Looking for the Official release? [Click Here to access the article by HUD.gov]
In case you forgot - I know most of us have tried to - a few years back we had a bit of a housing bubble bursting thing that did quite a bit of damage. To help fix that requirements were put in place to make it more difficult to get these types of loans - essentially, making the loans less risky for the government. Now after a few years of solid growth, a review has shown that the insurance funds that protect on defaulting lenders is above where they needed it to be. Now they can make some tweaks and adjustments to relax some of those requirements.
Mind you, we’re not all the way there yet - One drawback on an FHA loan is that you pay that MIP (Mortgage Insurance Premium) over the life of the loan. It doesn’t go away when you build up 20% equity like more conventional loans. Yeah, we’re...
Our current market is lacking inventory and when inventory is low buyers have a tendency to pay more and sometime struggle to find the home they really want. The old “Supply and Demand” adage applies very much to the real estate industry.
So When some recent buyers, let’s call them Tom and Sue, went out to look for a home to purchase, they struggled. At first they struggled because while shopping online, they kept seeing the same homes, over and over again - and they kept thinking, “Man those are expensive” - they started to think that they really couldn’t afford to buy a home.
When they did finally find a home that had recently come on the market, they immediately called the listing agent, who happily met them at the house to show them, and then told them that there were already several interested parties. Tom and Sue panicked a bit, because, THIS was the house they had been looking for. The agent showing the home told them that if they wanted even a chance at getting this house, they would need to put an offer in that day. They hadn’t even had a conversation with a loan officer to see what their payments would be, or even for that matter, what they could afford. Not Tom and Sue both work and earn a really good living, so they weren’t too worried. They told the agent that they would call their loan officer and get back with the agent about putting in an offer. Sue, really wanted the house and left practically in tears worried that someone else would buy it.