Ask Mike Your Mortgages Questions: Why Should You Be Excited About Indy’s Housing Market?

  • Mortgage rates are at a 62 year low! - Mortgage rates haven’t been this low in 62 years. Rates are around 5% on a 30-year fixed mortgage. Mortgage money IS available and no one knows how long rates will stay this low. By the time you realize rates are going up, you will have missed your opportunity.


  • Now is a good time to sell your home! - The tax credits are driving more buyers into our market every day. As the buyers purchase, this allows the move-up buyer to sell and take advantage of this market.


  • It’s a great time to build! - With less demand for new homes, lumber prices are at their lowest rate in 30 years. Vendors and suppliers are being very competitive resulting in lower cost to the builder. If you are considering buying a new home, now is the time. When demand increases the prices will go up radically.


  • You can buy a home with no money down! - You can still buy a home with no money down if you have VA benefits. Benefits are for full time or retired military. There is no PMI (Private Mortgage Insurance) to pay with a VA loan, and the current loan limits in our area are up to $417,000. With the current opportunities in our housing market you don’t want to miss out.


  • Home prices are affordable! - Falling home prices, favorable mortgage rates and the $8,000 tax credit are all contributing to phenomenal housing affordability in the Indianapolis metro area. Indianapolis was just ranked as the most affordable major housing market in the country for the 14th consecutive time.
    You can get tax credit for buying a home! (See last month’s newsletter online for more info http://www.reelestate.com/)


  • Home sales are up! - In 2008 there were more than 27,000 homes sold in the Indianapolis metro area. From February to March 2009, the number of homes SOLD rose 25%, and the number of homes under contract rose 39%. In the same time frame, the number of new home permits rose 25%.


  • There are incredible home buying opportunities available today! - For home purchases up to $281,000 you can get a fixed rate mortgage with only a 3.5% down payment. You can buy more home today because of a great inventory of affordable homes and historically low interest rates. Remember, real estate outperforms the stock market.
Posted by The Reel Team at 9:22 AM

Reel Free Classifieds

Automobiles

  • 2006 Suzuki Boulevard Motorcycle - 5,400 miles. The motorcycle also comes with 2 helmets. Price $5,900. Please call Joe at 765-215-7129.

Free Pets

  • Lab Mix - I have a 5 month old lab mix beautiful dog house brokin! great dog! I’m never home so I need a family for this very loving puppy! Text me at (317) 201-1036
  • 2 Black & White Cats -Free to anyone who would like them. Can take 1 or both. Please call (317) 738-9321 or (812) 343-9639

Holiday Events

  • Angels Sing' at St. Luke's United Methodist Church. Featuring the Indianapolis Children's Choir as part of the 'Tapestry of Song' 2009-2010 concert season. Dec. 18-19: Fri/Sat at 3-8 PM. 317-940-9640 www.icchoir.org
  • 'Food for Fun' Charity Event at Xscape. Bring canned goods and get up to $10 in free game cards, which can be used on go-karts, laser tag, bumper cars, XD Theatre, arcade games and more. Proceeds benefit Gleaners Food Bank. Nov. 13 - Dec. 11. 317-295-1782. www.thexscape.com
  • 'Christmas at the Zoo' Dec. 4-30 5-9 PM. Zoo opens at noon with regular zoo activities, then the full Christmas at the Zoo activities begin at 5 PM, highlighted by the huge light show. Call 317-630-2001. www.indyzoo.com
  • 12 FREE Days of Indy Christmas -
    Dec. 13 - Music & Lights in Indy with the Circle of Lights and several free concerts
    Dec. 14 - Rhythm! Discovery Center (10 a.m.-8 p.m.)
    Dec. 16 - History at home for the holidays with visits to historically significant homes in Indy
    Dec. 17 - Indianapolis Museum of Art (IMA), J.K. Lilly, Jr. House
    Dec. 18 - NCAA Hall of Champions (10 a.m.-5 p.m.)
    Dec. 19 - Conner Prairie Interactive History Park (10 a.m.-4 p.m.) / Indiana Medical History Museum (10 a.m.-3 p.m.) / Indianapolis Artsgarden concert (1 p.m.) / Tommy Wills Orchestra performs (Christmas jazz, blues and classics).
    Dec. 20 - President Benjamin Harrison Home
    Dec. 21 - Indiana State Museum's Celebration Crossing (9 a.m.-5 p.m.)
    Dec. 22 - Eiteljorg Museum of American Indians & Western Art (10 a.m.-5 p.m.)
    Dec. 23 - Indianapolis Motor Speedway Hall of Fame Museum (9 a.m.-5 p.m.)
    Dec. 24 - The Children's Museum of Indianapolis (10 a.m.-2 p.m.)
    More Info - http://visitindy.com/12free
Posted by The Reel Team at 8:55 AM
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