Let's Chat Indianapolis!: Indiana: Greenwood

Are Closing Costs Tax Deductible???? 

We frequently hear this question as we're working with buyers to find the "perfect place" in Indianapolis.  Of course we aren't tax accountants (thank goodness!), and therefore not allowed to provide tax advice.  But we can refer our clients to great resources where they can find the answers to these questions.

According to the IRS website, Loan Points and Origination fees are tax deductible, and PMI may also qualify.   Visit this IRS website for the details.  It is actually amazingly easy to understand and an excellent resource.  We also recommend you talk to a tax accountant to see how this applies to your individual circumstances. 

Thank you Lenn Harley for reminding us about this in your recent post Is The Origination "Point" Deductible?? Yes the IRS Says So".  Of course, we also caution everyone to read the IRS site carefully, because as Lenn so aptly put it "The Devil is in the Details".  We couldn't agree more!

Originally posted by Steve and Tonda Hoagland on their Active Rain Blog, www.IndyChats.com

Guaranteed Buyouts Cost Sellers $$$$

One of our former clients in sent us an email today.  They are considering building a new home in Indianapolis and want to find a Realtor or builder who is willing to offer a Guaranteed Buy Out.  Are we interested?  Here was our response.....

We have never taken on a Guaranteed Buyout because we don’t feel it is in the best interests of our clients.  In essence, to provide a GBO we would have to hedge the risk of selling your home.  To do that we would have to offer less as a GBO price than the current market value.  For instance:  We might offer you 80% of your list price for your home if it doesn't sell within a particular time frame.

We have met with some of the best builders around Indianapolis.  Most of them are also hesitant to do a GBO, even if the “new” home is significantly higher priced.  There is a substantial amount of risk involved – particularly in the current real estate marketplace. 

Understandably, the idea of a GBO is very appealing to a seller– mostly because you won’t end up owning 2 homes at the same time at some point in the future.  However there is a cost to that reduced risk.   

In our experience the best way to reduce your cost and maximize your return is to hire a great agent and sell the home out right.  The housing market is very much like the financial market – it is very efficient and if it seems like too good of a deal it probably is.  If a builder is offering a GBO, the dollars are “still in there” – they just move to a different column on the spreadsheet.  A GBO requires a builder to assume the risk of selling your property.  Because the market is efficient they have one of two options:

1.  Offer you less than market value as a GBO price.
2.  Offer you market value, but add the “risk value” to the purchase price of the new home.

Either way there is a cost to you if the home doesn't sell in the designated time. 

You have several different options. 

 Aggressively market your home with an experienced agent, sell your home at a price you are comfortable accepting, then contract with a builder at the very best price you can negotiate. (May require a double move.

Accept a guaranteed buyout price that is significantly below market price, but know you won't own 2 homes at the same time. (From either a builder or broker who is willing to provide a GBO.)

Accept an inflated guaranteed buyout price from a builder and wonder how much just got added to the price of the new home.

We firmly believe that in order to get the best price on your new construction home in Indianapolis, you should negotiate the price independent of any discussion of a guaranteed buyout from a builder.  It's the same principle as negotiating a price on a new car without a trade in!  That way you can know for certain the true cost of your home and compare builders more accurately.  For the most part, our experience has shown that Guaranteed Buyouts Cost Sellers $$$.  Unless you happen to come across a broker or builder that doesn't know the market or is willing to agree to a buyout at market price.  In that case... they will usually end up keeping the home on the market for months after the buyout, accruing steep holding costs, leasing or selling at a significant loss.  In which case the GBO costs them $$$$ and you, the seller WIN!

Homes for Sale In Greenwood IN 46143  - offered for sale by The Hoagland Group - 1368 Tuscany Dr

• 2,424 sq. ft., 3 1/2 bath, 4 bdrm single story "with 1 bdrm up" - $229,900 - Former Model Home!

Tuscany Village, Greenwood  -  Top of the line finishes and every available upgrade are found throughout this open and spacious 4 BR, 3 ½ bath, 2420 sq ft former model home. The gourmet kitchen is a wonderful entertaining space featuring hardwood floors, double oven, center island, stainless appliances and corian countertops.

Other amenities include a home office, gas fireplace, open floor plan, cathedral or 9' ceilings, decorative columns, walk-in closets, pantry, ceramic floors, arched doorways, security system, master bedroom on main level, jack n jill bath, custom window treatments, built in speakers, irrigation system, patio - with pergola, 2 1/2 car garage and Center Grove schools!

Great location, only minutes from the Greenwood Mall and restaurants. Easy access to I-65 or Meridian Steet (less than 30 minutes to downtown Indianapolis) Premier lot backs up to community common area and playground.  Contact Steve or Tonda Hoagland to schedule a showing!

See More Property Details, Google Maps, Virtual Tour, etc for 1368 Tuscany Drive, Greenwood IN  46143.

Homes for sale in Greenwood IN - The Hoagland Group just listed 615 San Ricardo Ct in Center Grove

The Villas, Greenwood  -  A lovely updated kitchen will make you glad to call this 3 bedroom, 2 bath house in Center Grove “home”! Enjoy time with friends around the fireplace in the great room, or on the multi level deck in the huge nearly 1/2 acre backyard. Located at the end of a quiet cul-de-sac this home is convenient to entertainment and shopping - the Greenwood Mall is only 5 minutes away - and has very affordable property taxes. Newer roof & windows, ceramic tile floors, cathedral ceiling, security system, mini-barn, storage barn, and playset – this home has it all! Center Grove schools too!

Click here for more details, virtual tours, google maps, etc.on 615 San Ricardo Ct, Greenwood IN

Originally posted by Steve and Tonda Hoagland at www.Indychats.com on 6/29/2010

The Hoagland Group just SOLD 999 Silver Hill Lane, Greenwood, IN  46142

Beautiful home in the popular Center Grove neighborhood of Silver Springs.

If you happen to live in Silver Springs, stop by and say "hi" to the Jansing family!

 This one is sold, but there are may other lovely Center Grove Properties still available.  Click on the slide show below to see additional options.

!

Originally posted by Steve and Tonda Hoagland on Active Rain Blog, Indychats.com

Homes for Sale in Greenwood IN - SOLD by The Hoagland Group - 577 Macy Way in Pebble Hills

This charming Center Grove home in Pebble Hills was listed for $175,900 and sold in 21 days for $167,500.  The welcoming great room was the center of this lovely home & featureed a soaring cathedral ceiling & cozy fireplace, while the adjoining breakfast room & kitchen led out to an incredible half acre yard with mature trees, lush landscaping, basketball court & mini barn.   The large patio was a wonderful outdoor living space for relaxing, watching the kids & pets play, or entertaining friends and family.  There was a the versatile living room area which could be used to accommodate a busy family’s needs – dining room, home office, playroom, etc.  Great location -- popular Center Grove Schools and only 20 minutes to downtown Indianapolis.

Find other similar homes for sale in Center Grove by clicking on the scrolling properties below.

Originally posted by The Hoagland Group on Active Rain Blog at www.IndyChats.com

Homes for Sale in Greenwood IN -- 4729 Hickory Wood Row -- Hickory Stick  

    

• 4,211 sq. ft., 4 bath, 4 bdrm single story "Plus large finished basement" - $399,900 - Beautiful Home!

Homes for Sale in Greenwood IN -  Quality craftsmanship & attention to detail abound in this beautiful home built by Cary McNeal, 2003 Johnson County Builder of the year! Dramatic entry, decorative stone sidewalk & arched windows welcome your guests!

Open floor plan is fantastic for families or entertaining. The formal dining with hardwood floors accommodates a huge table so there's room for large dinner parties or family gatherings and it's open to the spacious great room with soaring ceilings and built in bookshelves.

An extra wide open stairway leads down to the entertaining area in the spacious finished basement which features a wet bar , 2nd fireplace, 4th bedroom with daylight window, bonus room (great exercise area), full bath, den with built in cabinets and large unfinished area for extra storage.

Inviting Master Suite features a whirlpool tub surrounded by a glass block window, raised double marble vanity, separate shower, plus a huge walk in closet sure to be the envy of your friends! There is also a private entrance leading to the cedar deck.

Lovely kitchen features granite counters, tile floors, Amish cabinetry, breakfast bar & built in china cabinet in large informal dining area surrounded by windows which look out over the pretty back yard.

Other amenities included, poplar woodwork, irrigation system, lighted crawl space, security alarm, wood shelf storage systems in closets, transom windows, abundant storage & 4 car garage.

All located in a quiet golf community with a neighborhood pool for everyone to enjoy!

 Property information

There are additional things to consider when purchasing a condo vs a single family home.  This article by a fellow Active Rain agent in MA highlights some of the more important topics to consider.

Just Sold - 6456 Deerwood Ct - Greenwood IN  46143  $267,000.00

The Hoagland Group just sold this lovely home in the popular Center Grove neighborhood of Deerwood. 

It boasted 3667 square feet of living space on a secluded 3/4 acre cul de sac lot with mature trees.  The main level featured both a great room with cathedral ceilings and a fireplace, plus a spacious family room with skylights and a library nook with floor to ceiling built-ins.  Room for the whole family with 5 bedrooms and plenty of storage -- large unfinished attic with stairway access could be finished 3rd level and a huge 3+ car garage. 

Deerwood was developed in the 1980's and continues to be a very popular Greenwood IN subdivision because of the mature trees, large yards and neighborhood pool. It's strategically located near SR 37 for easy access to Indianapolis, is only 2 miles from Center Grove High Scool, yet feels like country living at it's best.  

Sorry this one's sold!! -- Check out other great homes in Deerwood:

Your Center Grove Neighborhood Market Report

March/April 2010 - published 3/31/2010 Compliments of Steve & Tonda Hoagland - The Hoagland Group at Keller Williams

The number one question we receive from our friends and neighbors is....."What's the market like in my neighborhood"?  So we decided to publish this report each month to answer that very question!   You can also find this and other more detailed reports online at, www.PerfectPlaceForYou.com  or our blog, www.IndyChats.com.  Don't see your neighborhood?  Give us a call and we'll send you market information for your specific area!  

...Or here's another easy way to stay informed -- 

Have you noticed a For Sale sign in the neighbor's yard and wondered about the price and amenities compared to your home?  Sign up for a Neighborhood e-mail watch to receive e-mail notifications about all homes for sale in your neighborhood as soon as they come on the market. 

To sign up, simply give us a call or send an email with the name of your neighborhood in the subject line.  That's all there is to it -- you'll start receiving automated updates about the real estate activity in your specific neighborhood!

Central Indiana:  Sales Prices Up-Foreclosures Down!

This includes activity for the past 3 months in the 13 central Indiana counties serviced by MIBOR.  Data is from MIBOR's just published statistics, ending February 28, 2010.

Homes Sold in Central Indiana - over 3 month period ending February 28, 2010

Number of homes sold:  4,368 (down 2% compared to the same period in 2009)

Average Sales Price:  $137,326 (up 11% compared to same period in 2009)

Foreclosures:  Make up 13% of all homes listed (down 3% over same period in 2009) and 33% of homes sold (down 9% over same period in2009)

Johnson County: -- Encouraging News!

Homes Sold in Johnson County - over 3 month period ending February 28, 2010

Number of homes sold:  341 (up 8% compared to the same period in 2009)

Average Sales Price:  $145,625 (up 8% compared to same period in 2009)

White River Township - Center Grove: 

As of March 31, 2010 there are currently 377 single family homes for sale in White River Twp ranging in price from $47,000 to $2.89 million.  58 homes are currently pended (under contract waiting to close) and 539 homes sold in the past 12 months compared to 495 in the previous 12 month period.

Your Local Neighborhoods:
As of March 31, 2010

Homes for sale in Auburn Trace:

Active Listings:   3 - Ave List Price $386,267
Pended:  0 - List Price $
Sold in last 12 months:  1 - Ave List Price $414,900, Ave Sale Price $409,900
Sold in previous 12 month period:   3 - Ave List Price $396,267, Ave Sale Price $364,667

Homes for sale in Berkshire:

Active Listings:  1 - Ave List Price $235,000
Pended:   0 - List Price $
Sold in last 12 months:  5 - Ave List Price $210,920, Ave Sale Price $202,980
Sold in previous 12 month period:  1 - Ave List Price $219,850, Ave Sale Price $205,000

Homes for sale in Brentridge:

Active Listings:   6 - Ave List Price $386,867
Pended:  1 -  List Price $289,000
Sold in last 12 months:   5 - Ave List Price $396,560, Ave Sale Price $369,580
Sold in previous 12 month period:   7 - Ave List Price $3331,771, Ave Sale Price $314,557

Homes for sale in Brentwood:

Active Listings:  9 - Ave List Price $167,000
Pended:   1 - List Price $94,500
Sold in last 12 months:   9 - Ave List Price $152,089, Ave Sale Price $148,111
Sold in previous 12 month period:   10 - Ave List Price $148,280, Ave Sale Price $144,280

Homes for sale in Brockton Manor:

Active Listings:  4 - Ave List Price $353,300
Pended:   2 - Ave List Price $300,000
Sold in last 12 months:   3 - Ave List Price $266,600, Ave Sale Price $255,833
Sold in previous 12 month period:  6 - Ave List Price $305,500, Ave Sale Price $291,283

Homes or sale in Deerwood:

Active Listings:  5 - Ave List Price $353,340
Pended:  1 - List Price $289,900
Sold in last 12 months: 1 - Ave List Price $399,900, Ave Sale Price $375,000
Sold in previous 12 month period:   5 - Ave List Price $356,740, Ave Sale Price $346,400

Homes for sale in Eagle Trace:

Active Listings:  7 - Ave List Price $345,486
Pended:   - List Price $374,000
Sold in last 12 months:   6 - Ave List Price $382,716, Ave Sale Price $359,958
Sold in previous 12 month period:   4 - Ave List Price $387,575, Ave Sale Price $373,025

Homes for sale in Highland Park:

Active Listings:  7 - Ave List Price $731,971
Pended:  1 - List Price $575,000
Sold in last 12 months:   3 - Ave List Price $513,318, Ave Sale Price $461,667
Sold in previous 12 month period:  12 - Ave List Price $613,247, Ave Sale Price $590,167

Homes for sale in Hunters Pointe:

Active Listings:  4 - Ave List Price $270,475
Pended:  2 - List Price $307,400
Sold in last 12 months:  3 - Ave List Price $234,767, Ave Sale Price $226,663
Sold in previous 12 month period:  7 - Ave List Price $242,929, Ave Sale Price $238,286

Homes for sale in Innisbrooke

Active Listings:  1 - Ave List Price $ 247,600
Pended:  0 - List Price $
Sold in last 12 months:  4 - Ave List Price $252,050, Ave Sale Price $266,000
Sold in previous 12 month period:  5 - Ave List Price $231,790, Ave Sale Price $224,900

Homes for sale in Kensington:

Active Listings: 14 - Ave List Price $496,864
Pended: 1  - List Price $304,900
Sold in last 12 months:  11 - Ave List Price $413,773, Ave Sale Price $400,256
Sold in previous 12 month period:  10 - Ave List Price $455,678, Ave Sale Price $448,830

Homes for sale in Sheffield:

Active Listings:  2 - Ave List Price $153,950
Pended:  3 - List Price $133,267
Sold in last 12 months: 5 - Ave List Price $159,520, Ave Sale Price $157,680
Sold in previous 12 month period:  11 - Ave List Price $174,273, Ave Sale Price $167,291

Homes for sale in Wakefield:

Active Listings:  17 - Ave List Price $188,732
Pended:  2 - List Price $174,010
Sold in last 12 months: 28 - Ave List Price $183,372, Ave Sale Price $174,787
Sold in previous 12 month period:  18 - Ave List Price $202,950, Ave Sale Price $195,286

Homes for sale in Windsong Estates:

Active Listings:  6 - Ave List Price $229,783
Pended:  0 - List Price $
Sold in last 12 months:   14 - Ave List Price $248,366, Ave Sale Price $243,286
Sold in previous 12 month period:  17 - Ave List Price $213,357, Ave Sale Price $202,557

Other News:

Expiring Soon! - Must have accepted Purchase Agreement by 4/30/2010.

The expanded federal tax credit now includes a $6500 credit for existing homeowners who sell their main residence and then purchase another home.  There are a few restrictions and deadlines are approaching quickly - must have accepted purchase agreement by 4/30/2010 and close no later than 6/30/2010.  Visit www.PerfectPlaceForYou.com for details.

Interest Rates-

Interest rates continue to fluctuate, but remain in the 4.875% to 5.25% range for both FHA and Conventional loans with zero points. 

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Join the Discussion -

www.IndyChats.com is a place to learn about local community activities, real estate news and information about your neighborhoods.

originally posted by Steve and Tonda Hoagland, Active Rain, Hoagland Team