FAQ - November Video - Questions - Answers ~ Video Blog

Should I List my Home during the Holiday Season

We hope you find this short 2 minute video helpful with a couple of questions we are asked this time of year!

Should I list my Home During the Holidays?  If my home is listed during the holiday season... should I decorate for the season?

Watch our video for answers!

Don't Forget to File Your Exemptions by December 31st!

Did you buy a home or refinance your mortgage this year?  

If so... DON'T FORGET to file your property tax exemptions by December 31, 2016! If exemptions aren’t filed, your property taxes could go up substantially.  Which could/will cause your mortgage payment to go up if you escrow your property taxes.

At your closing, (purchase or refinance) there is a lot of paperwork going back and forth.  One of the most important is a state-required, bright yellow form you received with your closing paperwork.  This form is gone over briefly to explain the benefits of property tax exemptions.

There are many, many exemptions, however the two exemptions the majority of homeowner's qualify for are the Homestead Exemption and the Mortgage Exemption.

The Homestead Deduction - Your Biggest Deduction!

Basically the homestead exemption means you own your home, it is your primary residence.  It cannot be filed on a rental home or vacation property.  Your Homestead Deduction is by far the most valuable as it provides the largest deduction to your property taxes. Most of the time your homestead deduction is now filed for you at closing through the sales disclosure, by the title company.  But we recommend you verify it has been filed! 

With a homestead deduction, your primary residence property taxes will be capped at 1% of the assessed value per year.
Without a homestead deduction (rental property, etc.), your residential property will be capped at 2% of the assessed value per year.
Out buildings and other structures are taxed at 3% of the assessed value per year.

The mortgage exemption is the second most common deduction.  This deduction is available to any homeowners who has a mortgage attached to their property.  This form is most likely was not filed on your behalf  at closing, therefore it  must be filed by you.  This must be done on or before December 31st in order for the deduction to be in effect for the following year’s property taxes.

Mortgage Exemption must be filed if you refinanced in 2016!  

Exemptions do not need to be re-filed each year.  Once they’re in place they do not fall off!
But IF you refinanced your home, you MUST re-file your mortgage exemption.  If you change how you hold  title, for example: add or remove someone from title, change the last name of someone on title, you will also need to be re-file your mortgage exemption.


Additional exemptions


In addition to the homestead and mortgage exemptions, there are many more deductions you may qualify for...

Examples:

Over 65 – If you are over 65 and have a combined adjusted gross income of $25,000 or less
Disabled – If you are blind or disabled and have an individual taxable gross income of $17,000 or less
Disabled Veteran – You have served in U.S. Military and are disabled

For the full list of available exemptions CLICK HERE

For Tax Exemption Info from IN.gov website CLICK HERE

FIND YOUR COUNTY AUDITOR & OTHER GOVERNMENT OFFICES  CLICK HERE


What to bring if you file exemptions in person:

When filing your mortgage exemption in person, be sure to bring your drivers license and have an approximate amount of the balance owed on your loan.  Also make sure that it has been at least 30-days since closing as the deed must be recorded an in your name before you can file an exemption.  We suggest to file around the time you make your first mortgage payment.  If you close in the month of December, we suggest you go to the auditors office in person as close to the end of the year as you can and file.
 
ALWAYS  get and keep the receipt! 

Your receipt  is your only proof that you have filed these exemptions.  Without it you don't get the benefit of the doubt!






If you have any questions regarding exemptions - please do not hesitate to give us a call!

Your Current Home... To Rent? Or not to Rent? That is the question...

There are times when a homeowner is ready to move, and they don't have to sell their current home in order to buy a new home.   In most circumstances homeowners sell their current home rather than keep the home and use it as a rental.  However, the thought inevitably crosses the minds of some homeowners.... Should I rent out my current home?

We have been asked this question many, many times.  Ultimately that decision is up to a homeowner.  However, when we are asked... we do offer up some "food for thought" questions a homeowner needs to consider well before putting a "For Rent" sign in the yard!
 

 First and foremost ask yourself this:

DO I WANT TO BE A LANDLORD? 

• Do I want to be bothered at midnight on Christmas Eve (or any other night/day for that matter) when my rental property has a hot water heater leak, or the furnace goes out?  

• Will the renter care for the home the way I would care for my home? 

• Does my neighborhood Homeowners Association allow my home to be used as a rental?

• Does it make sense financially for me to rent out my home?

• How does this affect my property taxes and exemptions?  

• How will this affect my insurance rates?

• If a renter stops paying rent, there is an eviction process and do I want to incur that expense?  

• How will an empty house with no renter and no rental income flowing affect my financial bottom line?  

• Should I hire a Property Manager?  (an additional cost that would need to be figured into rent price)

There are many, many other points that can be considered when pondering the question "To Rent... Or Not To Rent?"

The point we think is the most important at the end of the day...

ONE BAD RENTER CAN COST YOU A LOT OF MONEY!

 Sure it sounds good... income coming in each month.  But when that renter moves out... what will the condition of the home be like?  Will the carpet need replacing?  Did they damage walls?  Did they have a pet, even if it was not authorized?  Will that security deposit cover costly, big repairs due to damage at the hands of a renter?

Renting your home is like running a business.  It's much more than finding a renter and collecting rent each month.  

Rental Scams... BEWARE!

A few weeks ago I received an email from a local real estate broker.  He had a client who noticed a listing for a rental on Craig's List. While he thought she was just a neighbor of this listing trying to find out more information, after further investigation he noted that Jim and I actually had the house "for sale" and not "for rent".

I contacted our clients to make sure they had not listed the home for rent.  This was a rental property for them at one time. They had not.  I then proceed to find the "For Rent" listings on Craig's List!  WHAT?  Our description and photos pulled and used in this bogus scam.  After reporting to my local board, I also flagged the listing to be pulled from Craig's List.  I also contacted the Scammer as a possible "renter" to see what information I could glean and pass along to our Board, so they could include this information when they reported the incident to the FBI Internet Crimes Division.

Here are the email exchanges:

Hello,

Thanks for your interest and inquiries about my house. The house is still available for rent and we are looking for a responsible person/family to occupy and maintain the house. Myself and my wife just traveled to Texas with Catholic HEART Workcamp. We will be away for about 4 years. The house is available for rent for short term and long term as we will be moving to our family house when we get back. I was unable to find a tenant before I traveled which I why I posted an ad online. My initial plan was to sell the house but it was not successful because the Realtor raised the price which made it difficult for me to sell so never mind if you see the for realtor sign in front of the house, it has already been taken off the market for sale so you will be dealing with me directly. How long do you intend to stay and how soon do you intend to move in?

Rental price: $800 per month and security deposit is $800 (security deposit is refundable).

Utilities(electric, water & trash) are included in monthly rent.

Pets are Welcome.

Below is the address to the house : *********************************

Get back to me so I can forward you the rent questionnaire I would want you to fill  out.

Regards.

I followed up with an email asking how I could preview the home?  Here is the response to that inquiry:

 " I have been disappointed before,by some peoples i trust in the state. So the only person i trust in the state right now that you can meet,has informed me that he has travel to GERMANY for professional course...

SO IF YOU ARE REALLY INTERESTED I WILL WANT YOU TO FILL THE RENT APPLICATION FORM BELOW:

RENT APPLICATION FORM.

Name (First name/ Middle name/Surname ) : __________?

Phone numbers (home,cell and office line ) # :__________?

E-mail :__________?

Best time to call :__________?

Marital Status:__________?

How many proposed occupants :__________?

List all in addition to yourself including approx age :__________?

Present Address :__________?

City/State :__________?

Will you have pets :__________?

Please describe Breed, size :__________?

Personality of pet :__________?

Preferred move in date :__________?

Intended length of lease:__________?

Do you agree to pay the payment before you move in:__________?

Earliest possible date of deposit payment:__________?

Length of previous tenancy :__________?

Present occupation :__________?

Are you a section 8 applicant

Do you work late night :__________?

Do you smoke :__________?

Do you drink :__________?

Send your picture or family picture __________?

Please feel free to ask any questions you do not understand and i will be looking forward to receive your email as soon as possible. As i am not around to show the inside, you can go check out the house and the neighborhood from the outside and get back to me if you really like it for more information. Please respond ASAP.

I hope to read from you with more information. Thanks for the time and energy writing me, My regards to your family. For more inquiries, Here is my cell phone number which i roamed so i can receive international calls, call or text me ASAP 

zzzzzzzzzzzzzzzzzz

Best Regards.

zzzzzzzzzzzzzzzzzzzzzzz

This scam is nothing new under the sun, however it was the first time it had happened to us.  After further investigating I have spoken with other agents that have experienced the same.  Even hearing a situation where an agent was showing a home, and a man walked in demanding to know why she and her clients were in his house?  He had "rented" the home.  Well, he had not rented the home, he had been scammed.  It leaves us scratching our heads at times wondering how someone could fall for this, but the scammer will instruct the victim to ignore the "for sale" sign in the yard, as you can see from the information above.

     Here is some info I pulled from the FBI's Website:

How exactly does the rental housing scam work? The criminals search websites that list homes for sale. They take the information in those ads—lock, stock, and barrel—and post it, with their own e-mail address, in an ad on Craigslist (without Craigslist’s consent or knowledge) under the housing rentals category. To sweeten the pot, the houses are almost always listed with below-market rental rates.

An interested party will contact the “homeowner” via e-mail, who usually explains that he or she had to leave the U.S. quickly because of some missionary or contract work in Africa. Victims are usually instructed to send money overseas—enough to cover the first and last month’s rent—via a wire transfer service (because the crooks know it can’t be traced once it gets picked up on the other end).  

Renters might sometimes be asked to fill out credit applications asking for personal information like credit history, social security numbers, and work history. The Nigerian crooks can then use this info to commit identity fraud and steal even more money from their victims.

How to avoid being victimized:

• Only deal with landlords or renters who are local;
• Be suspicious if you’re asked to only use a wire transfer service;
• Beware of e-mail correspondence from the “landlord” that’s written in poor or broken English;
• Research the average rental rates in that area and be suspicious if the rate is significantly lower;
• Don’t give out personal information, like social security, bank account, or credit card numbers. 

Click Here for Full Article

We would also add this suggestion... if you are in the market to rent a home, contact a local real estate broker to investigate if a home you find is truly for rent.  (the agent can also assist in finding homes listed "For rent" in the Broker Listing Cooperative).  

Bottom Line!  Do your research!  Ask a Professional!  And if looks too good to be true - it most likely is a SCAM!

It's FREEZING! So, Start NOW! "Get Your Home Ready to Sell!"

Our minds and bodies are thinking "spring" now that the winter weather has settled in.   After the holidays I know Jim and I start thinking and planning "spring" things.  It can help as we walk the cold winter days.

If you are planning on selling your home in 2016, or even thinking about selling... winter could be one of the best times to start your plan, and set your time frame, for getting your home on the market.

1. Call Us NOW!

Many times sellers call right before, or into the first few weeks of early spring to start planning their home sale; losing valuable market time getting their home "sale ready"  Why not get the ball rolling early?  We can set an appointment to help you sort through what  you should and should not do to effectively prepare your home to be "market ready".   That way you have a few months to get "inside stuff" completed.  

2. Make a LIST

We can help you write up and organize a list of "things to do" to get your home market ready.  By taking control early on, you aren't scrambling to get things done in a week's time!  I can't tell you how many sleep hours a client has lost spending a week painting, organizing, repairing etc in order to hit the market on their target list date.  It makes more sense to plan ahead and have plenty of time to get things done, and not put your life on hold or adding the extra stress of getting it all done in a short period of time.

3. Market Analysis

Let us prepare a market analysis of what the market is currently bearing in your neighborhood/area.  This will give you a good idea of what your home would sell for at the current time.  The Market Analysis would be redone just prior to your "target time" to find out if there are any changes.  We need to use the most current market data to set the best possible "LIST" price. 

4. Connect with a Mortgage Professional

This is an important step, and should be done well in advance if you are planning on purchasing a new home after you sell.  This way if there are any hiccups, road bumps etc they can be straightened out in advance.  Also, this gives us an exact idea of what price point/range for houses you should consider.  We always advise putting the "horse in front of the cart" and not vice versa.  We would hate for you to find a home you absolutely love, but it is out of reach from a price point standard.  

We have plenty of literature we would LOVE to share with you to help get your "plan" in motion.  We would love the opportunity to assist you when the time is right!  Inventory is still at record lows and the market needs good listings!  If Spring isn't the right time for you, Summer, Fall and Winter are also still good and favorable selling seasons.  There are always buyers out there! 

This could be YOUR YEAR to sell and buy!   If it's not... well, we LOVE referrals!  So if you know someone who is thinking real estate in 2016 - please let us know!  Referrals are truly the heart of our business! 

Tips for Preventing Frozen Pipes

We knew it was bound to happen!  Winter weather has finally arrived!  After a nice, mild November and December, Old Man Winter finally awoke from his slumber!

With single digit temps and sub-zero wind chills; taking steps to prevent frozen pipes is essential to any homeowner! (or renter)

OUTSIDE HOME:

• Keep the Garage Door Closed (especially if the garage is attached to the house)

• You might want to place an insulating dome or other covering on outdoor faucets and spigots to reduce the likelihood of water pipes freezing, expanding

• Make sure holes and cracks are filled in exterior walls to prevent cold air from entering into the walls (this is a task that more than likely should be handled in warmer weather)

INSIDE HOME:

• Open bathroom and kitchen cabinet doors so that warm air will circulate around pipes             (Be sure to move any harmful cleaners and household chemicals up out of the reach of children.)

• Allow a slow drip from your faucets to reduce the buildup of pressure in the pipes.  Running water through the pipe - even at a trickle - helps prevent pipes from freezing.

• IF the pipes freeze, the release pressure in the water system will reduce the likelihood of a rupture.

• Keep the thermostat set to the same temperature both during the day and at night. Lowering the temperature at night might save a few dollars in your heating bill, however it could cause your pipes to freeze thus a more costly repair job if pipes freeze and burst.

GOING OUT OF TOWN?

• If you will be going away during cold weather, leave the heat on in your home, set to a temperature no lower than 55° F.

• You might also want to drain your water system completely.  Consult with a professional for proper instruction or completion of this task

This is NOT something you want to see in your basement or crawlspace
or not see with plumbing inside a wall or ceiling

If your pipes do freeze:

• You should keep the faucet open. As the frozen area starts to melt, water will flow and running water will help melt ice in the pipe.

• CALL A PROFESSIONAL! They will give you the proper advice!

Stay warm and cozy... safe of the roads!

5202 Berkshire North Blvd, Greenwood, IN 46142 ~ BLC #21391820

Just Listed... 5202 Berkshire North Boulevard, Greenwood, IN 46142

For More Pictures CLICK HERE

LOVELY 3 BDRM/2.5 BATH 2 STORY ON FULL BASEMENT IN CENTER GROVE! NEW ROOF IN DEC 2015; FAMILY RM W/ FIREPLACE FOR COZY WINTER EVENINGS; LIVING RM; DINING RM; EAT-IN KITCHEN W/ ISLAND; LOFT; GORGEOUS VIEW OF POND FROM AWESOME DECK AND PAVER PATIO W/ WATER FEATURE; BASEMENT HAS DAYLIGHT WINDOWS & PROVIDES POTENTIAL FOR MORE LIVING SPACE! MASTER SUITE HAS GARDEN TUB, SEPARATE SHOWER & WALK-IN CLOSET; METICULOUSLY MAINTAINED; COVERED FRONT PORCH! WELCOME HOME!