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Hendricks County : Real Estate Advice

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Activity 36
Thu Feb 2, 2012
Anna M Brocco answered:
Contact local realty offices for available rentals, or work with an agent; check local print media for by owner rentals, always verify ownership before exchanging any money; word of mouth, etc. ... more
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Thu Aug 30, 2012
Don Tepper answered:
You really need to see a Realtor and a lender. Find a Realtor, then ask for a recommendation on a lender.

As for the mortgage: Interest rates are incredibly low now. Nothing wrong with a 30-year fixed rate. If you're pretty sure you'd be there only 5-7 years, there are some ARMs with ridiculously low rates. Again, though, check with a lender to see what would be best for you.

You can't normally get a mortgage without a down payment. If you're a veteran, VA loans are 0% down. Some counties and cities have special incentive plans--a lender would be able to fill you in on that. FHA only requires 3.5% down.

Congratulations on your credit score, by the way.

But don't be too quick to knock renting. It's true you'll never own the place. But sometimes renting is the best option. And it's not money down the drain: Your rent is providing you a place to live. And if you take a look at amortization charts (charts that show how much of your mortgage payment actually goes to paying off your loan when you're buying), you'll see that in the first few years relatively little goes to paying off what you owe. Your monthly payments might be about $560 (that's a real rough number), of which only $110 would be going to pay off the principal. And when you're renting, you don't have to worry about repairs, especially expensive ones like a new roof, new HVAC, etc.

Still, start off by finding a Realtor. (There are lots of threads on Trulia about how to select one.) Ask the Realtor for suggestions regarding a lender.

Good luck.
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Sun Aug 7, 2011
Shannon Thomas answered:
Dawn,
I don't have access to your ph# or email. You can contact me though through my profile. Look forward to hearing from you.
0 votes 0 Answers Share Flag
Wed May 30, 2012
Margaret Hassani answered:
Hi Dawn - It would depend on your financial situation. I would suggest talking to a mortgage broker or lender to see if you would qualify. If you are upside down on your mortgage, I would say no, you can't purchase a smaller home then sell your present home. But if you are not upside down, you may qualify, depending on your financial situation. ... more
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Sun Aug 7, 2011
Sally Grenier answered:
You can try to sell your home via a short sale (provided you can prove financial hardship -- which most people can do these days). A short sale is when you owe more on the house than what you can sell it for. The bank needs to approve the sale, and agree to forgive the difference. It is a long and complicated process, but it is possible. But unfortunately, you won't be able to buy anything for 3 years. I would try for the loan mod. ... more
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Sun Jul 31, 2011
Sally Grenier answered:
Not sure I understand the question. Sounds like you should seek the advice of an attorney. If the house was headed to foreclosure, but homeowner was able to pay off the mortgage (hence stopping the foreclosure to go through), then common sense would dictate that there would be no foreclosure reported.

However...I'm assuming the homeowner's credit would still be damaged to some extent because they presumably missed a bunch of payments, and that DOES affect your credit score.
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Sun Sep 8, 2013
Christine McDaniel answered:
Have you looked on Trulia for the information. They have excellent stats and trends. If you are not finding the information you want here contact a local realtor. They will be able to set you up on an automated search to send you information about new listings, pendings, or sold in any area you'd like.
Christine
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Tue Feb 11, 2014
Stacy Carter answered:
Sure. You need to determine if you can qualify for the second home. The lender can tell you if you need to rent the first home out first. It might be worth contacting a Property Management company to help you find qualified renters and to help manage the rental.

If you qualify, you can move forward with the smaller home. Just make sure it's contingent on getting financing, leasing your current property, or better yet, both.

Good luck!

Stacy Carter
Associate Broker
Better Homes & Gardens Real Estate Metro Brokers
678-641-6631
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Fri Mar 8, 2013
Carl Ben Witzig answered:
Don't know but sounds nice. Depends on what land has next to it. Access, utilities, water, level, buildable? Could be worthless, or $100,000.
0 votes 3 answers Share Flag
Mon May 31, 2010
Christopher Lefebvre answered:
Because the electricity and natural gas prices are always changing, the correct answer to this question can change over time. I would recommend calling the local utility companies and asking them for their current rates.

Also, the type and energy efficiency of the systems you install in the home can definitely come into play here. For instance, electric resistance type baseboard heaters are typically very energy inefficient. However, electric heat pumps can be very energy efficient and electricity in this instance can be cheaper than natural gas. There are a lot of new "green" energy efficient systems available these days so you may want to do your homework. If you contact a local mechanical/HVAC contractor they could go over some options with you.

The builder may be pushing you towards electric baseboard heat because they are very inexpensive systems and really easy for them to install.
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Thu Jun 25, 2015
Anna M Brocco answered:
Depends on what your contract states as far as backing out--your agent can best advise as it relates to your specific situation--if you don't have an agent, and do need to rescind, consider consulting with an attorney who specializes in real estate and see what options you may have. ... more
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Mon Mar 29, 2010
Dan Chase answered:
If you give an address or MLS# you can get a better reply.

If you are looking at a realtytrack foreclosure listing the answer is no. It never was available for the price listed here. They are not real foreclosures for sale and those are not prices you can buy at. INstead that is how far behind they are on a lien of the amount of a lien they are behind on. ... more
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Tue Jul 23, 2013
Joe Shoemaker answered:
Laurie:

A good portion of the West side of indianapolis - including parts of both Avon and Plainfield - do experience the noise from airplanes flying in and out of Indianapolis International Airport.

That being said, I live on the North Side of Indianapolis and experience flyover noise from time to time.

How much noise is too much noise? That's a subjective question, with different answers from person to person.

Something must be OK about both Avon and Plainfield, though. They're experiencing some of the fastest growth in the Metro region.

Good luck!

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group, LLC
317 413.8501
joe@joeshoe.com
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0 votes 7 answers Share Flag
Mon Jun 15, 2015
Grace Hanamoto answered:
Hello Dvdhuffa:

Unfortunately, if you have experienced a foreclosure, you will be unable to get another mortgage for approximately 3-5 years. FHA, as I understand it, will provide you with a mortgage after 3 years, and Fannie Mae or Freddie Mac will not offer you a mortgage for about 5 years.

The best means to buying your next home is to talk with a qualified mortgage broker in your area to learn what you can do to repair your credit and prepare your records for a clean, hassle free purchase.

Good luck!!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
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0 votes 10 answers Share Flag
Tue Mar 19, 2013
Paula Henry answered:
Dante -

Although not exclusive to Hendricks County, Indiana Housing has a great program for first time homebuyers. It is a grant program for up to $3500. toward down payment assistance. There are some income and qualifying guidelines, but it's an excellent program.

There's also some rural property loans available for Hendricks County, depending on where you live within the county.

Please feel free to contact me if you would like more information.
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