Don Steinmetz's Real Estate blog

Just found this on RealtorMag

donsteinmetz — Wed, 02 Nov 2011 18:57:41 +0000

How Long Are Loans Delinquent in Foreclosure?
Daily Real Estate News | Wednesday, November 02, 2011

Loans in foreclosure have been delinquent an average of 624 days — a record high, according to Lender Processing Services’ September report.

The time loans spend in foreclosure continues to increase. For example, 40 percent of home owners with loans in foreclosure have failed to make a payment within two years, and 72 percent of home owners have failed to make a payment in a year or more.

The time from the last payment to foreclosure sale has been found to be even longer in judicial states, in which foreclosures must be approved by the courts. The time span in judicial states is averaging 761 days, six months longer than non-judicial states, LPS reports.

While loans are spending longer in foreclosure, the number of foreclosure starts is decreasing. Foreclosure starts decreased 11.2 percent in September compared to August, and foreclosure starts are 15 percent below a year earlier, LPS notes in its recent report.

The states with the highest percentage of loans in delinquency or foreclosure are:

•Florida
•Mississippi
•Nevada
•New Jersey
•Illinois
The states with the lowest: North Dakota, South Dakota, Wyoming, Alaska, and Montana.

Source: “LPS: Foreclosures Delinquent an Average of 624 Days,” HousingWire (Nov. 1, 2011) and Lender Processing Services

Danville Indiana Real Estate News 2/21/2011

donsteinmetz — Mon, 21 Feb 2011 15:18:35 +0000

This just in from MIBOR

The Theme Continues For Now: Sales Prices Climb, Activity Slow

According to MIBOR’s Monthly Indicators Report for January, the trend that defined much of 2010 continues in the first month of 2011 with strong median and average sales prices coupled with decreased sales activity. For the three months ending in January, median and sale prices increased by more than four percent each to $119,500 and $147,966 respectively. Closed sales are down 17.5 percent, new listings are down 10.7 percent and overall months of inventory is down to eight months – a 9.2 percent decrease over the same three month period a year ago.

If you are thinking about purchasing a home there is a nice supply of homes on the market and historically low interest rates which help to make this a great time to buy. To get more information on the homes available in the Danville area and surrounding Indianapolis market you can search on-line 24/7 at www.youripres.com.

Feel free to contact us anytime at 745-0209 to get more information on Hendricks county real estate.

Thanks, Don Steinmetz

Hendricks County Property Tax Appeals

donsteinmetz — Tue, 08 Sep 2009 13:27:30 +0000

The deadline for filing property tax appeals for Hendricks County is approaching. Oct 5 2009 is the date! If you feel your property is not assessed correct make sure to file the paperwork now.

I have worked with several clients who have had their properties value over assessed (to be fair I have seen some that are under assessed as well). It is an imperfect system, that is why they have an appeals process. It is important to check the value and make sure it is right, while your at it make sure you have all your deductions filed! It would amaze you how many people do not have their homestead and mortgage exemptions filed. These deductions make a big impact on your overall tax bill and can have a negative impact on your property value.

I hope you are having a great year and look forward to assisting you in your next real estate transactions. Visit us online at www.youripres.com or give us a call 317-745-0209.

Thanks, Don Steinmetz

IPRES Realtors Danville IN

Hendricks County Real Estate 08 vs 09

donsteinmetz — Fri, 19 Jun 2009 16:10:17 +0000

Here are the latest sales numbers in for Hendricks County Indiana.

April 2008 compared to April 2009: There were homes Sold 166 in 08 compared to 155 in 09, a change of -6.6%. Median Sales price for 2008 was $133,700 compared to a median sales price of $$137,900 for 09, a change of +3.1%.

The first quarter of 08 vs 09: There were 431 homes sold in the first quarter of 08 compared to 355 in the first quarter of 09, a change of -17.6%. The Median sales price for the first quarter of 08 was $135,000 compared to a median price of $136,500 for 09, a change of +1.1%.

We seem to have seen less homes coming on the market this year and have a little more demand for the well positioned homes on the market from people taking advantage of the $8,000 tax credit.

I hope you found this information useful. Check in soon as I post the sales numbers for Danville Indiana in the coming days. Check out our website at www.youripres.comto shop for homes in Hendricks County. You will be able to find all the homes available on the blc (or mls) from one convenient website.

Thanks, Don Steinmetz

$8000 First Time Buyer Tax Credit

donsteinmetz — Mon, 11 May 2009 13:17:08 +0000

Wanted to take a minute to remind everyone of the $8000 tax credit available to those who haven’t owned a home for the past three years (first time buyers).

With the nice supply of reasonably priced homes, and the low interest rates available, now is a great time to think about owning your own home. If you know anyone who would like more information on this tax credit, or on homes that are on the market, give us a call at 317-745-0209. We would be happy to assist you with your home search.

Don Steinmetz

IPRES Inc., Realtors

www.youripres.com

317-745-0209

Update… 2 Bedroom Condo Avon – Prestwick for rent

donsteinmetz — Sat, 21 Feb 2009 00:32:03 +0000

Here is a picture of the condo available in Prestwick. It is offered at $900/month with a $900 deposit. Call IPRES Inc., Realtors @ 745-0209 to get more information or visit www.203sugarwood.info It will be available March 1.

Thanks, Don Steinmetz

Avon condo for rent

Real Estate for sale Danville Indiana 3BR 2 BA $139,900

donsteinmetz — Mon, 26 Jan 2009 22:03:08 +0000

Nice home in Old Farm Addition on the East side of Danville. This homes has 3 nice bedrooms 2 full baths. Updates have been completed over the past 2 years including a new furnace. New tub unit in hall bath and new shower stall in master bath w/new tile floors in both. New carpet and paint thru out. New laminate floors in kichen, laundry, and family room. This home is a must see for the price. Move in ready. Visit our site to get more info and pictures. Give me a call to schedule your private showing on this property 317-745-0209. This home is a great opportunity to take advantage of the low interest rates and the $7500 first time home buyer tax credit. For more info and pics go to www.312RaintreeDrive.info

You can log on to our site www.youripres.com to search for homes 24/7.

Thanks, Don Steinmetz

First Time Home Buyers $7,500 Tax Credit

donsteinmetz — Mon, 26 Jan 2009 16:41:14 +0000

You may be wondering what is the tax credit. The credit is part of the recently enacted Housing and Economic Recovery Act of 2008.
Available for a limited time only, the credit:

Applies to home purchases after April 8, 2008, and before July 1, 2009.

Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.

Is fully refundable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.

However, the credit operates much like an interest-free loan, because it must be repaid over a 15-year period. So, for example, an eligible taxpayer who buys a home today and properly claims the maximum available credit of $7,500 on his or her 2008 federal income tax return must begin repaying the credit by including one-fifteenth of this amount, or $500, as an additional tax on his or her 2010 return.

Eligible taxpayers will claim the credit on new IRS Form 5405. This form, along with further instructions on claiming the first-time home buyer credit, will be included in 2008 tax forms and instructions and be available later this year on IRS.gov, the IRS Web site.

Now lets decide who is a first time home buyer. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the home ownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.

As with everything involving the government there are income limits that apply. The credit is phased out based on your modified adjusted gross income (MAGI). MAGI is your adjusted gross income plus various amounts excluded from income—for example, certain foreign income. For a married couple filing a joint return, the phase-out range is $150,000 to $170,000. For other taxpayers, the phase-out range is $75,000 to $95,000.
This means the full credit is available for married couples filing a joint return whose MAGI is $150,000 or less and for other taxpayers whose MAGI is $75,000 or less.

If you are thinking about purchasing a home this tax credit along with the nice supply of homes on the market and historically low interest rates make this a great time to buy. To get more information on the homes available in the Danville area and surrounding Indianapolis market you can search on-line 24/7 at www.youripres.com.

Feel free to contact us anytime at 745-0209 to get more information on Hendricks county real estate.

Thanks, Don Steinmetz

Prestwick Condo for rent – Avon Indiana

donsteinmetz — Wed, 21 Jan 2009 20:12:21 +0000

I have another nice 2 bedroom 2 bath condo in Avon that will be coming available March 1, 2009. This is a very quiet area on the West side of Avon. Very nice home for $900/month which includes water, sewer, trash, and lawn care. It has a one car attached garage and a office/den. For more information please call me at 317-745-0209 or email don@youripres.com.

Check us out online at www.youripres.com

Thanks, Don Steinmetz

$100 Down Payment – Indiana Real Estate

donsteinmetz — Thu, 15 Jan 2009 15:09:37 +0000

For a limited time HUD is offering a $100 down payment program for owner occupied purchasers using FHA financing on its listings. These are FHA foreclosed properties. It is also offering a $1000 sales allowance to owner occupant purchasers which will be credited at closing. In addition HUD will pay up to (and may not to exceed) 3% of all closing costs considered to be reasonable and customary in the jurisdiction where the property is located.

With these incentives now is a great time for first time home buyers to be thinking about purchasing a HUD listed home.

If you would like more information on HUD homes available in the Danville Indiana (and surrounding communities) area please feel free to contact us at 317-745-0209. Visit us on-line at www.youripres.com We are a HUD certified broker and would be happy to assist you in subnitting your HUD offer

Thanks, Don Steinmetz

Some of the towns we specialize in are Avon, Amo, Brownsburg, Clayton, Coatesville, Danville, Fillmore, Lizton, Mooresville, Plainfield, Pittsboro, North Salem. In Hendricks, Putnam, Morgan, Boone, and western Marion counties.