Home Ownership Matters!

Last week Justine and I attended the Rally to Protect THE AMERICAN DREAM at the foot of the Washington Monument. We were in Washington D.C. for our annual National Association of REALTORS Mid-Year meetings where we visit with our Congressmen and Senators to lobby for legislation beneficial to current and future Home Owners (more about that in a future blog post).

Being an election year, and with our legislators looking for ways to balance the budget, Congress is looking at FHA, Fannie Mae, Freddie Mac, the Mortgage Interest Deduction, and other things that could negatively impact the ability of Home Buyers and Sellers to buy and sell real estate. Over our next few blog posts I hope to let you know about some of the issues we addressed with our representatives and why they are important to all of us. 

Bruce & Justine Bright
THE BRIGHT Side of Real Estate
Our Website: www.BrightSideTeam.com 
Home Search Site: www.IndyHomeSearcher.com

April Home Sales on the Rise

Housing data released today for April 2012 shows continued growth in central Indiana, including an increase in home prices and a rising number of closed and pending sales. The April Monthly Indicators Report of BLC® listing service data released by MIBOR today reveals that closed sales increased by 16.1 percent in the three months ending in April 2012 when compared to the same three-month period last year. In April alone, closed sales increased by 18 percent. Pending sales also continued to increase, up 11.2 percent for the three months ending in April, and 7.8 percent in the one-month comparison. Average sales and median sales price experienced continued growth, up 5.5 and 6.0 percent respectively in the three-month comparison. Months of supply decreased considerably in both the one and three-month view. Months of supply of inventory stands at 8.1 months in April. Along with the Monthly Indicators report, a one-page report of each county within the service area is also provided. In total, these data sets are intended to be a snapshot of the market, providing historical comparisons whenever possible. The data was pulled from the BLC® listing service on May 16. To download the Monthly Indicators report, click here. To view the one-page county reports, click here. Please note, due to the length of the reports, it may take a few minutes to download. If you have questions regarding the data, please let us know!

Bruce & Justine Bright
THE BRIGHT Side of Real Estate
Our Website: www.BrightSideTeam.com
Home Search Site: www.IndyHomeSearcher.com

Avon - Huntwick - On the Pond!

10693 Newgate Lane in Avon's Huntwick

You'll love sitting on your deck watching the ducks swim in the pond or fishing from your own backyard. This ranch style home with bonus room/4th bedroom provides lots of open spaces for entertaining and enjoying your family and friends. Large great room features a vaulted ceiling and is open to the kitchen and dining areas. The Kitchen comes with all stainless appliances, breakfast bar, and lots of counter and cabinet space. A light and airy sun room opens to the deck and fenced backyard. Mini-barn too!




Bruce & Justine BrightTHE BRIGHT Side of Real EstateOur Website: www.BrightSideTeam.com Home Search Site: www.IndyHomeSearcher.com

Buy a HUD Repo with only $100 Down Payment!

HUD (the Department of Housing and Urban Development) has once again instituted its $100 Down Payment program on the sale of homes in it's inventory.

HUD homes are homes that had FHA Mortgages that have been foreclosed on. Many of these homes are in move-in condition. Other homes may need some fixing up buy HUD has several different loan alternatives that can pay for repairs, renovation, and remodeling.

Of course there are several criteria that have to be met to utilize the program. The $100 Down Payment Program Has the Following Requirements:

1. HUD Foreclosed Homes Only! This FHA $100 Down Payment Loan is for the purchase of HUD foreclosure homes.

2. Have to use FHA financing. You cannot use conventional financing.

3. This program is for Owner-Occupants only, not for Investors. You have to sign a form at closing stating you are going to live in the property and not use it has an investment such as a rental property.

4. You still need to have the earnest money of $1,000 for properties listed above $50,000 and $500 for properties listed for less than $50,000. Earnest money will be returned to you at closing as a credit on the Closing Statement.

4. You can ask HUD to pay for closing costs up to 3% of purchase price.

If you are going to buy a home in the near future, you need to consider HUD Homes with this HUD Homes $100 Down Payment Program. The perfect HUD foreclosed home could be in your area.

Send us an email or give us a call to learn more.




Bruce & Justine Bright
THE BRIGHT Side of Real Estate
Our Website: www.BrightSideTeam.com
Home Search Site: www.IndyHomeSearcher.com

Moving Up (or down sizing)? Get 4% towards your New Next Home!

How would you like to get 4% of the purchase price towards your next home? You can using it for a down payment (currently 3.5%), closing costs, prepaids, etc.

Indiana Housing has announced a pilot program that targets current homeowners. Called the Next Home Program it grants the buyers their down payment for their next home purchase.

Below are the key features of the program.

=> 4% given to the borrower to be used towards down payment, closing costs, prepaids,etc.
=> Minimum 650 credit score
=> 125% of Median Income limits in non-targeted areas and 140% in targeted areas
=> No acquisition limit or purchase price limitation
=> FHA loans only
=> Underwritten to FHA guides
=> Can add MCC, if buyers qualify for the MCC program
=> 0.125% of the total loan amount as reservation fee payable to Indiana Housing upfront
=> No third party inspections or homebuyer's counseling
=> The 4% down payment is forgiven after 2 years
=> Interest rate is currently 5.5%, but will move and flow with the market as necessary
=> Seller Concessions are same as FHA (6% of the purchase price)
=> This program can be used for a first time home buyer, as well

Want to know more? Just email us or give us a call.

Bruce & Justine Bright
THE BRIGHT Side of Real Estate
Our Website: www.BrightSideTeam.com
Home Search Site: www.IndyHomeSearcher.com

Broad Ripple Area 4 Bedroom Home!

Great 4 Bedroom home with lots of hardwood floors and crown molding. Large formal living room with fireplace open to formal dining room. Updated Kitchen with white cabinetry, tile floor and Breakfast Nook! 2 Bedrooms on main floor share updated full Bath. Upstairs Master Suite and another Bedroom with 2nd full Bath! Finished daylight basement has a family room, office/game room, bonus area as well as storage. Enjoy the screened in porch with a well landscaped private back yard in a quiet neighborhood.




Bruce & Justine BrightTHE BRIGHT Side of Real EstateOur Website: www.BrightSideTeam.com Home Search Site: www.IndyHomeSearcher.com

Huntwick of Avon

4 Star Schools! Close to Shopping and Restaurants! Common areas both next door & across the street give this home the feel of being in the country with the conveniences of a neighborhood including a community playground. 4 Bedrooms, 2 ½ baths, Living Room & Family Room, Mini-Barn, Laminate Floors throughout the main floor. Kitchen comes with all Appliances and features a Deep Graphite Sink. Lots on new paint both inside and out. Water Purification & Reverse Osmosis systems stay. Garage Storage Area.





Bruce & Justine BrightTHE BRIGHT Side of Real EstateOur Website: www.BrightSideTeam.com Home Search Site: www.IndyHomeSearcher.com