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Fishers, IN Real Estate News

By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
I have been so busy with people relocating to the Fishers area; it reminds me to be thankful we have such a great community to share with others. I have many doctors, professors and even one couple that wants to move here from New York because they have read so much about Fishers, Indiana.  This couple is selling their home in New York and moving here to find jobs and buy the home of their dreams.  I took them on a tour this past Saturday. We definitely looked at some homes for sale in Fishers, but also I took them by Conner Prairie and told them about the school field trips and that the Indianapolis Symphony plays outside during the summer and people bring picnic baskets and wine and enjoy the music.  I also took them through downtown and talked about the Fair train and the Tuesday con...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------> HERE ! Bank of America's Great Cash Giveaway The madness continues. Bank of America (BoA) is considering a special program for unemployed borrowers that would offer as many as nine months of no mortgage payments while they hunt for a new job. A spokesperson for BoA says that the program is still pending regulatory approval. Whether or not the payments are forgiven or just deferred has not been solidified yet, but according to the spokesperson, a likely option would be to capitalize the past due payments into the new permanent...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------> HERE ! Olick - The lipsticked pig As usual, Olick takes a contrarian view of the market, this time citing Ivy Zelman, the former Credit Suisse analyst who called the housing crash, even before the boom had peaked. "Zelman did a simple exercise of adding shadow inventory to the seemingly improving inventory numbers. In DC for example, she cites a 5.1 month supply of homes for sale, well below the nation's 8 month supply. But add the shadow inventory of foreclosures, and you get a 13.2 month supply. She claims builders "underwr...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------> HERE ! Fitch - CMBS defaults will pass 11% by 2011 Commercial mortgage loan defaults look likely to rise through the end of the year, with another 4.4% likely in 2010 and the overall default rate expected to pass 11% among securities rated by Fitch Ratings, the credit-rating agency said today. New CMBS defaults increased more than five-fold last year, totaling 1,464 loans worth $17.75bn, Fitch said. “Fourth-quarter default rates reached their highest ever levels both in principal balance and number of loans with no clear sign...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------> HERE ! BusinessWeek: Profits from foreclosure threaten HAFA Starting this month, the Treasury Department is paying companies that collect mortgage payments and examine pleas for assistance a $1,500 stipend for approving the sale of homes for less than the loan balance, known as a short sale. The servicers also get $1,000 for each completion under the government’s year- old mortgage modification program, and additional stipends over three years if borrowers stay current on their payments. But Diane Swonk, chief economist of Ch...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
There are 311 homes under contract today in the Fishers Real Estate market!  That is crazy good news.  It is most likely a result of the impending end to the tax credits available to first time home buyers and repeat buyers.  I have heard so many people say that the market is still a buyer's market.  It is not, there are numerous cases of multiple offers being placed on those home for sale in Fishers. So, how do you get your offer accepted?  Here are the Top 5 Ways that I would recommend: 1) Have your Fishers Realtor® research the activity so that you know what is a fair and reasonable price for the home.  Be sure to consider those things that might make the home you are considering worth more or less such as updates, lot, and time on the market.  Be sure your Realtor archives the histo...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------> HERE ! Foreclosure rates surge, biggest jump in five years Foreclosures hit a record in the first quarter. According to RealtyTrac Inc. more than 900,000 households — or one for every 138 homes — received a foreclosure notice in the past three months. Experts say it’s a sign that banks are beginning to sort through a backlog of troubled homes at a faster pace. The rate of foreclosures had eased last year as the Obama administration sought to modify loans to give owners more time to work out problems. As several states had sim...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------> HERE ! Foreclosures spike According to the online foreclosure marketing firm RealtyTrac, in the first three months of 2010 foreclosure filings rose 7% compared with the previous quarter, to more than 930,000,. That's a 16% jump over the first three months of 2009. Foreclosures started off the first quarter with modest gains but spiked in March to a record 367,000 filings. Plus, nearly 258,000 of those filings were for bank repossessions, the highest quarterly total RealtyTrac has ever reported. "It looks like the log jam is f...
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By Indianapolis Realtor
(ICON Realty Partners, LLC - Indianapolis)
Is the tax credit driving this or is the market really making a turn?  I'm sure builders like Pulte, Beazer, and Westport would love to believe it's making a huge turn.  And by the looks of it, they may be right.  Homebuilder Permits were up 49% in Fishers throughout the first quarter of 2010 compared to 2009.  Take a look at the the permit action so far this year in Fishers and shoot us a call to learn about any homebuilder in the city.  We are pros at assisting buyers looking to purchase a newly built home or build one from scratch. Fishers Building Permits YTD 2010 Year January February  March Total 2009 22 31 42 95 2010 26 44 72 142 Change 18% 42% 71% 49% Go here to view information about the Top 10 Indianapolis Home Builders in 2009. Go here to view information about the Top 10 Ind...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
For the most up to date information on Foreclosures, Short Sales, HAFA, HAMP, Loan Modifications, Bankruptcy Laws, Forensic Audits, Our Current State of Economy, and much more go to this TOTALLY FREE website that gives you access to everything you need Click------>HERE! Mortgage Foreclosures Break Records The new Loan Modification Plan may be hurting some investors while helping others. First lien holders are complaining that they have lost priority under the new Making Home Affordable program. Many investors believe the program could help the housing market but they also want to share the losses with second lien holders. One report suggested that they are taking write-downs of $450 billion in home equity loans. Bank of America President of American Home Loans, Barbara Desoer, will tell...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
I know that March was a great month, but I will lay odds April will knock it out of the park.  If you read the recent posts on the Fishers Real Estate that has pended, you would probably agree!  There are so many buyers out there still trying to get the tax credits that are available for first time buyers and repeat buyers. There are currently 810 homes for sale in Fishers, with 173 of those under $150,000.  For March 2010, 136 homes sold compared with 127 a year ago.  The neighborhoods that saw the most activity were the usual with Sunblest Farms, but we also saw many homes in Saxony (near Hamilton Town Center), Spyglass Hill and The Bristols sell this month.  I also wanted to mention Limestone Springs, this is a tough area for sellers, but a bargain for buyers.  There were four homes ...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Debt forgiveness can be taxing It is IRS policy to tax forgiven debt you are personally responsible for as if it is income. For example, if a credit card company settled a $10,000 debt for 50 cents on the dollar, that would leave a debt forgiveness of $5,000, which the IRS would count as income, just like wages. The same policy held true for most mortgage debt until 2007, when Congress passed the Mortgage Forgiveness Debt Act. That ended the liability for many homeowners -- but not all. In general, if a home is lost to foreclosure or short sale, where you sell your home for less than you owe, the IRS won't add ...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi The mortgage lottery...brought to you by Bank of America Bank of America (BoA) announced last week that it would begin cutting loan balances for distressed mortgage borrowers and in the process created a lottery - if you're lucky enough to be in its portfolio and smart enough not to pay your mortgage, you win. Specialty servicers have been around for a while, handling the worst-of-the-worst; loans at least 90 days late, and one of the tactics they have used is principle reduction. It sometimes works well with the worst cases. But now BoA is taking the practice mainstream, and not surprisingly more loans are goi...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi MBA - 1.2 million households lost According to the Mortgage Bankers Association (MBA), 1.2 million households were lost from 2005 to 2008, despite the population increase of 3.4 million in the study area. This decline in households is likely what contributed significantly to the excess supply of apartments and single family homes on the market. The study, “What Happens to Household Formation in a Recession,” was conducted by Professor Gary Painter of USC and sponsored by the Research Institute for Housing America (RIHA). It analyzes the impact of economic and housing conditions on household formation and how th...
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By Cindy Marchant, "Cindy in Indy" , Realtor, Fishers Real Estate
(Keller Williams Indy NE 317-290-7775 www.marchantteam.com)
We are, at least for the moment, in a seller's market.  I set 10 showings on Saturday in the Fishers and Carmel Real Estate area and five of them were sold.  I have a home for sale in Fishers where we accepted an offer and I had two other interested parties that just waited too long to write the offer.  I wrote an offer last week and was in a multiple bid situation.  Things are selling! I wanted to talk about the "multiple bid" or "best and final" situation.  This can be scary for a buyer because they feel like they can't get the "deal" they have heard is out there.  Many buyers don't want to get into a bidding war.  And some feel they will over pay for the home. A best and final situation means that the seller wants to see each buyer's best and final offer to make the best decision for...
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By Pat Haddad, ABR, CRS, ePRO, GRI, Carmel, Fishers, Westfield IN Real Estate Expert
(Keller Williams Indianapolis Metro NE)
  Saxony in Fishers Indiana Location: Olio Road north of 126th StreetSchools: HSE Junior High, Hamilton Southeastern HSAverage sales price: $251, 893Average days on market: 160 Home prices range from the low $200s to the high $600s. ------------------------------------------------------------ Saxony in Fishers Indiana is a refreshing departure from typical suburbia. A modern take on an old-fashioned neighborhood, Saxony architecture is reminiscent of the mid-1800s, with wrap-around porches and antique-style street lamps lending to the vintage feel of the neighborhood, which includes luxury townhomes, quaint cottages, and stately executive homes. The residential section is part of the larger Saxony campus concept which includes restaurants, shops and businesses all within walking distanc...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Home sales up Pending home sales rose in February, signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors (NAR). The Pending Home Sales Index (PHSI) rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months. Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in buyer contact activity may signal the early stages of a second s...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi Olick - Private Loan Mods Outnumbering Government Mods Diana Olick notes that The Hope Now Alliance, "the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors," says "99,499 homeowners received proprietary loan modifications for the month. Combined with the United States Treasury’s recently released Home Affordable Modification Program (HAMP) data that showed 50,364 HAMP modifications for January, the total number of loan modifications is almost 150,000 for the month. Most significant in the data is the fact that 74% of proprietary loan modifications done in Janu...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi $200 billion buyout of seriously delinquent mortgages According to a report from the Royal Bank of Scotland, government-sponsored enterprises (GSEs) will buy $200 billion of serious delinquent loans out of their mortgage-backed securities (MBS) pools over the next several months. The first $42 billion wave of buyouts came March 15, and the remainder should come in April, May and June, according to researchers based at the bank’s operations in the United States. One of the GSEs, Fannie Mae, said in a press statement earlier in March that it expects to continue purchasing delinquent loans in subsequent months unt...
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By Jason Lucchesi
(Global Fortune Solutions, LLC)
If your not too scared of social media you can follow us on Twitter by clicking Twitter.com/JasonLucchesi & add us as a friend on Facebook by clicking Facebook.com/Jason.Lucchesi HAFA coming April 5 Short sales are already picking up in the distressed-property market, and the trend is expected to explode in coming weeks, when the government starts handing out cash to encourage lenders to close these deals. "Banks have ramped up short sale approvals," said Duane Legate of House Buyer Network. "They're hiring a lot of the people who once worked in the mortgage-lending industry and moved them over to short sales." Short sales accounted for 17% of all residential real estate sales in February, up from nearly 13% in November, according to a monthly real estate market survey by Campbell/Insid...
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