Pat's Real Estate Blog

Well, it's official.  Punxsutawney Phil spotted his shadow today and scampered back to his cozy digs.  Which, if you take stock in the premonitions of a rodent, leaves us with six more weeks of winter.  The grim prediction shouldn't surprise Indianapolis residents.  Even if Phil's shadow were absent, would anyone really believe spring is just around the corner?  Three sunny days in a row can't fool us!  And just to prove it, winter's dreary skies are back in action today. 

Maybe PETA (People for the Ethical Treatment of Animals) is onto something when they suggest replacing Punxsutawney Phil with a robotic prognosticator.  Not only would the living, breathing Phil be freed from the guilt of dashing Spring Fever hopes across the country, but the robotic version could, presumably, be programmed to always predict the early onset of spring.  While we'd intellectually know that couldn't be true, psychologically it might help out!

What's another six weeks of winter, anyway?!

For information on Indianapolis IN and Indianapolis real estate, contact your Indianapolis REALTOR®:

Pat Haddad, ABR, CRS, e-Pro, GRI

Haddad Team, Keller Williams Realty

317.840.7555

Pat@HaddadTeam.com

Football's over until Super Bowl weekend, the weather is, well...frightful, and last I checked no blockbuster movies are set to premiere this weekend.  Don't despair!  There are still plenty of things to do in Indianapolis IN.  Personally, I'm looking forward to the 2010 Indianapolis Home Show which opens Friday, Jan. 29 at the Indiana State Fairgrounds and runs through Sunday, Feb. 7.   

Whether you're considering a remodeling project, in the market for a new home, or just looking for somewhere warm to go, there will be plenty there to capture your attention!  Prepare to dream big as you tour the 2,600-square-foot fully landscaped and decorated centerpiece home, or stop for a moment to chat with one of the many professionals on hand to offer advice on home improvement and decorating projects.  Home and garden celebrities such as Paul DiMeo of HGTV's Extreme Home Makeover will give special presentations throughout the show. 

Tickets are $12 ($9 if purchased online) for those 13 and older; $5 for children 6-12.  For more information, visit www.indianapolishomeshow.com.

For information on Indianapolis real estate and Indianapolis homes for sale, contact your Indianapolis REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI

Haddad Team, Keller Williams Realty

317.840.7555

Pat@HaddadTeam.com

19001 Fairfield BLVD
Noblesville, IN
$139,900 
3 bedroom, 2 bath

Take a virtual tour of this home!

Especially well cared for home with many great features and an affordable price! Kitchen and dining room are open to great room w/fireplace and all have vaulted ceilings for a larger feel. Fresh paint throughout much of the interior, new HVAC in '07. Master has garden tub, separate shower, double vanity & walk-in. Additional bedrooms are generously sized. Large, fully fenced yard, spacious deck and storage barn. Very close to schools, library, Potter's Bridge, Forest Park, shopping & dining. Convenient to SR37.

Open House hosted by Crystal Owen, Haddad Team. 317-379-6499

For more information on Indianapolis homes for sale and Hamilton County real estate, contact:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317-840-7555

Pat@HaddadTeam.com 

For more great listings visit www.HaddadTeam.com

In what many consider a long overdue move, the FHA has implemented a one-year waiver to its policy of requiring sellers to hold title for 90 days prior to entering into a sales contract with buyers seeking FHA financing. This new policy takes effect Feb. 1, 2010.

According to the FHA, temporarily eliminating the "flipping" rule for buyers will allow the agency to more quickly dispose of its huge inventory of single family REO properties.  This move is also predicted to stabilize property values and benefit neighborhoods and communities particularly hard hit by foreclosure. 

Restrictions to the waiver do apply. 

--There can be no prior agreement or collusion between the buyer and seller.

-- If the sale price is greater than the purchase price by more than 20%, additional appraisal requirements will be required to justify the price increase.

More information on the FHA "flipping" waiver and other mortgage-related questions.

For information on Indianapolis homes for sale and Indianapolis real estate, contact your Indianapolis REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI

Haddad Team, Keller Williams Realty

317.578.1317

Pat@HaddadTeam.com

5310 Appleseed Way 
Indianapolis IN
$167,375
3 bedroom, 2.5 bath

Lovely home w/open floor plan, great upgrades & perfect location!  Large formal dining room, HUGE open kitchen w/breakfast bar & eat in.  Tall cabinets, center island and pantry w/everything you need for a perfect kitchen.  Spacious great room w/vaulted ceiling, and open to kitchen for easy entertaining.  Extra large main floor master w/private bath.  Loft overlooks great room and offers plenty of extra living space.  Big back yard with white picket fence to top it all off!

For more information on Indianapolis IN homes for sale contact your Indianapolis REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317-840-7555

Pat@HaddadTeam.com 

For more great listings visit www.HaddadTeam.com

947 Bristol Road 
Indianapolis IN
$92,500
3 bedroom, 2 bath

Conveniently located at 103rd and College! This 3 bedroom 2 full bath BRICK ranch has hardwood floors, newer windows,  fenced yard with mini barn and mature trees. Low property taxes with Indianapolis address but in award-winning Carmel/Clay school district! Home is ready to be moved into includes all appliances and has only been vacant 1 week.  Easy show with awesome potential!   

For more information on Indianapolis IN homes for sale contact your Indianapolis REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317-840-7555

Pat@HaddadTeam.com 

For more great listings visit www.HaddadTeam.com

Buyers and real estate agents alike should note changes implemented this week in the Federal Housing Authority's mortgage loan program.  In short, those changes include increasing the mortgage insurance premium, updating the combination of FICO scores and down payments for new borrowers, reducing the amount of allowable seller concessions, and significantly increasing lender enforcement.   

Mortgage insurance premium

-- Increase in initial insurance premium from 1.75 of the loan value to 2.25 percent of the loan value.

 Downpayment and credit score requirements

--Buyers with a FICO of 579 or lower will be required to have at least a 10% downpayment.

--Buyers with a FICO of 580 or above will be required to have at least a 3.5 % downpayment.

 Allowable seller concessions

--Reduced from 6% to 3% of the property value.

 Lender enforcement

--Lender performance rankings publicly reported.

 What HASN"T changed

--FHA mortgages are available to more that just first-time homebuyers.

-- Sellers may still contribute up to 6% of the purchase price for closing costs and prepaid expenses (taxes, insurance and interest).

"We have known for a while that FHA would be tightening up their guidelines due to the higher percentage of defaults of FHA borrowers with lower credit scores," said William Haddad, president of Capital Mortgage Solutions in Indianapolis.  "These FHA adjustments will make it tougher for borrowers with lower scores to get the higher "Loan-To-Value" loans, and will increase the FHA requirements to be more in line with conventional guidelines that penalize lower scores."

Haddad adds that REALTORs should urge their "on-the-fence" FHA buyers to move forward before these changes become effective in a few weeks.

Pat Haddad, ABR, CRS, e-Pro, GRI

Haddad Team, Keller Williams Realty

317.840.7555

Pat@HaddadTeam.com

Indianapolis real estate

7826 Softwood Court 
Indianapolis IN
$98,000
3 bedroom, 2 bath

This incredibly maintained home is 15 years old but in the condition of much newer home (new roof 2005)!  Wonderful neighborhood & location in Warren Township. Nestled at the end of a cul-de-sac, this pristine ranch offers a park-like setting & lot.  Many large trees provide great privacy while you're relaxing on your brick patio or enclosed porch.  Great open floor-plan w/ large family room, laminate wood flooring & neutral decor/paint.  Schedule a showing today & see why this is a great place to call home!

For more information on Indianapolis IN homes for sale contact your Indianapolis REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317-840-7555

Pat@HaddadTeam.com 

For more great listings visit www.HaddadTeam.com

Both Rick Swinford of Noblesville and the Riley Children's Foundation have an additional $500 at their disposal after a check presentation ceremony Jan. 14 by the Haddad Team at the Keller Williams Realty Fishers office. Swinford won the Haddad Team's Platinum Partner Program, in which any clients who provided a referral during 2009 were entered into a drawing to win $500, with an additional $500 going to the charity of their choice. 

Swinford, an employee of Hamilton Southeastern Schools, said winning the contest was a "surprising" and positive start to the new year. Cara Lathrop, annual fund assistant director of the Riley Children's Foundation, also was appreciative. Despite providing $45 million in charity care in 2009, more is needed to accommodate the nearly 190,000 pediatric patients seen at the hospital each year, explained Lathrop.

Pat Haddad said she is particularly glad that Swinford was the first winner of the contest, which will become an annual event for the real estate team. Haddad says Swinford and his wife, Connie, were among her first clients and are more than deserving of the award.

Pictured from left to right: Risa Pisano, REALTOR®; William Haddad, Capital Mortgage Solutions; Connie Swinford, Noblesville; Rick Swinford, Noblesville; Kim Forrest, REALTOR®; Cara Lathrop, Riley Children's Foundation; Heidi Smid, REALTOR®; Crystal Owen, REALTOR®; Pat Haddad, Associate Broker; Andrew Barr, REALTOR®

For information on Noblesville real estate, contact your Noblesville REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI

Haddad Team, Keller Williams Realty

317.840.7555

Pat@HaddadTeam.com

Indianpolis homes for sale

If you're a Hamilton County home buyer in the market for a foreclosed property, there's a new incentive you'll want to be sure to check out. In an effort to reinvigorate the areas of the county hardest hit by foreclosure, the Hamilton County Area Neighborhood Development (HAND) is offering grants to eligible buyers of up to $30,000 to be used for a down payment, closing costs and rehabilitation. To be eligible, buyers must meet the following criteria:

--Income at or below 120 percent of the area's median income of about $81,000 for a family of four.

--The foreclosed property must be in one of the areas of the county most affected by foreclosure, including Carmel, Fishers, Noblesville and Westfield.

--Buyers must complete an 8-hour homebuyer counseling and training program, which provides education about the home buying process, financial management, credit and home maintenance.

For more information about this program and others, call 317.773.5110.

For information about Hamilton County real estate and Indianapolis real estate, contact your Indianapolis REALTOR®:

Pat Haddad, ABR, CRS, e-Pro, GRI

Haddad Team, Keller Williams Realty

317.840.7555

Pat@HaddadTeam.com

Indianapolis homes for sale

Hamilton County homes for sale