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Home Buying in Bloomington : Real Estate Advice

  • All84
  • Local Info8
  • Home Buying30
  • Home Selling3
  • Market Conditions9

Activity 30
Thu Dec 1, 2016
Kmcmas14 asked:
My husband is retiring soon and I will probably go part time. We're under the age for social security and he will get a small pension from the military. We have a healthy portfolio and…
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Mon Jul 18, 2016
Kelly.jones asked:
Sun Apr 12, 2015
Sally Grenier answered:
You should be asking your Realtor this question. Impossible for anyone here to say what's a reasonable offer. What kind of market are you in? Seller's market, buyer's market or is it pretty balanced? Tim makes some excellent points.

You don't make an offer based on what you want to pay, what the seller paid, or based on what upgrades you want to make. You should base your offer on "Fair Market Value" -- what similar properties have been selling for in recent months. Only your agent can help you with that.

Here in CO we are in a very tough seller's market. Most homes sell at list price or ABOVE. Any they aren't in pristine condition and need updates.

It's all about what the market is like in your area.

Good luck to you!
... more
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Sat Apr 11, 2015
Bob Double Rebate Specialist $$ answered:
Buying outside Bloomington (approximately 4 miles) will allow you to buy with NO money down by using USDA guaranteed mortgage financing. They will require that the house is habitable and not have any safety hazards... cosmetic repairs are OK. You will still need an income to justify the loan amount and a decent credit score. Call me for list of homes that will qualify... and also to learn about our company's rebate program that actually provides FREE money to you at closing - 812-327-5194 ... more
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Fri Jan 23, 2015
Justin Bell asked:
I have been trying to share listings with my wife and I get no email notification and neither does she
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Sat Nov 29, 2014
Deb Tomaro answered:
Two suggestions - one would be to see if you can find a Realtor with extensive experience (ie someone who has been around a while) and get their opinion. They would know first hand the reputation of the builder (from being involved in the reselling of the builder's homes, from client's experiences with that builder and with just the general reputation). Second, don't believe everything you read on the internet! Ask the builder for contacts to homeowners for whom they've built. Talk to them first hand. ... more
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Sat Nov 29, 2014
Deb Tomaro answered:
Joan, did you know that if you have good credit, there are some loan programs where you can pay upfront PMI in a lump sum just one time at closing, instead of paying every month? When you sit down with a lender and do the math, you see that it can be a considerable savings. And, you can often build the upfront PMI into the purchase by negotiating for the seller to pay closing costs. I've had several clients do this type of program this year and they've been very happy. ... more
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Sat Nov 29, 2014
Deb Tomaro answered:
Some of the answer depends on even more local than Ellettsville versus Bloomington. If you are comparing Ellettsville to the east side of Bloomington, there is usually a meaningful difference. If you are comparing the west side of Bloomington to Ellettsville, the difference becomes less meaningful. It's hard to answer your question without knowing the exact houses/neighborhoods you are considering. For example, houses in Woodgate tend to be $20,000ish less than a similar house on the southside of Bloomington, but maybe about the same price as a house in the HIghlands. So moral of the story, location is important, but on a more micro scale than just the city/town. Location is neighborhood, school, proximity to IU, etc. ... more
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Thu Nov 6, 2014
My NC Homes Team answered:
I'm sure you're right about why the price dropped. This doesn't mean it's not a decent home but having a trailer park in your backyard is always going to limit the resale value and the number of buyers who are willing to consider the property. ... more
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Sun Oct 19, 2014
Scott Godzyk answered:
You can ask but may not be able to make the seller do anything. Their listing agent should have already gone over what is available for sale in their area. You should start by making an offer before you submit anything to argue a price drop, see what the seller will take first ... more
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Fri Jun 27, 2014
William Morrow answered:
ASHI and ANSI Inspectors offer disclaimers at time of engagement and in their reports that there may be defects that are non-detectable due to circumstances beyond their control. A defect may be hidden behind a wall for example. They can inspect only what can be discovered in a non invasive manner. In other words they cannot cut open a wall to see the cause of a suspected issue. They will note a suspicious appearance and suggest a contractor in that specialty field be consulted. Also keep in mind they are looking at the entire home in a very confined time period. Compare that to an HVAC specialist that you call to perform annual routine maintenance who will spend 2 hours looking at your heating system only. ... more
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Fri Jun 27, 2014
Juan Carlos Carrasquel, Expert answered:
It depends on location and condition. If you want to be more specific (i.e. a specific neighborhood), I will need more info. I will be happy to help
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Tue May 6, 2014
Sally Baird answered:
USDA offers a zero down payment loan option but the house has to be within a certain area (usually more rural) to qualify. Here's a link to the USDA website: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

I'm not a property manager but if you decide to go the rental route and want some recommendations for good property managers I can point you in the right direction.-Sally
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Sun Feb 2, 2014
Aaron Steele answered:
It's OK depending where you are in Ellettsville. It doesn't have as strong of market when compared to certain zip codes or school districts in Bloomington but it has a healthy market. I'd be happy to help you out with your real estate goals. Please send me an email to realestatebysteele@gmail.com so I can get your address and I'll send you a comparative market analysis of Bloomington and Ellettsville property. Go Broncos!

Sincerely,
Aaron Steele
812-325-8207
... more
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Sun Feb 2, 2014
Aaron Steele answered:
I'd be happy to help you with your search. Please send me an email to realestatebysteele@gmail.com so I can get your address, and I'll start sending you some options.
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Thu Dec 26, 2013
My NC Homes Team answered:
Houses are going to make more sense as the HOA fees associated with a condo plus the fact that many HOA's will not permit rentals; generally make condos and/or town homes a poor investment choice, unless you're initially buying them to live in yourself for a number of years; perhaps as a graduate student. ... more
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Wed Dec 25, 2013
Juan Carlos Carrasquel, Expert answered:
Jeremy,
I have detailed stats for Bloomington. I will be happy to share those with you. Stats are important to validate property values. I recommend you look at Median prices vs Average prices per sf. It is important to select similar properties in your statistical sample so you have a more accurate conclusion.
Please let me know if I can help.
Juan Carlos Carrasquel, CCIM
(812) 369-0785
... more
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Wed Dec 11, 2013
Jeff Franklin answered:
Mon Jul 22, 2013
Juan Carlos Carrasquel, Expert answered:
Yes, it's a good idea.
What's is your price range or monthly budget? I'll be happy to send you all available options and also keep you informed on upcoming new listings.
What lifestyle is your son used to? Modest living or luxury living?
Other things to consider that could affect your decision are:
1- Are you using a mortgage or cash?
2- Is the property going to be in your name or in your son's name? This has a significant effect in property taxes.
3- Is your son willing to take the responsibility of caring for a house or condo?
I work with many parents every year going to the same process you are going through. Please let me know how I can help
... more
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Mon Jul 22, 2013
Stevens & Manley answered:
I remember my parents faced the same dilemma. Usually with resale it is always a better selling point to have a 3 bedroom. It is best to do some homework and speak with a real estate agent to figure out what your options can be. Depending on price difference, down payment and monthly payment, it may work for you. Be sure to check with your financial advisor also. ... more
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