Indy Homes Blog

To swim or not to swim? That is the common homeowner’s question. (Sorry for the cliché, but I had to do it!) Adding a pool to the backyard can be a hot Indiana summer dream, but before you break out the shovels and start digging a lot should be considered.

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A sign next to a home saying “Zero Down” can often be misleading or bring confusion. To better inform you of how zero down works here are a list of the ways Capital Mortgage Solutions uses the term “zero down”:

1. Fannie Flex or Freddie Gold up to 417K;
2. 80/20 loans with the maximums at 80% at 417K and the 20% at 104K for a total purchase of 521K;
3. My Community can go up to 100% financing, but borrower income cannot exceed 63K in Central Indiana4;
4. VA financing up to 417K;
5. FHA up to 207K with Seller participation in a 3% to 5% Down Payment Assistance through a non-profit company such as Genesis, Own, Nehemiah, Ameridream, Futures, etc..this is the scenario that would require the Seller to agree to pay the 3% from proceeds at closing. In these situations if the comparables show that the home is reasonably priced, there is less room for negotiations. In fact, the purchase price may exceed the list price by a bit as long as the appraised value allows it.

Let’s keep in mind the zero down payment does NOT say zero investment. The buyer would still be required to pay closing costs, points and prepaids less property tax credits. In most cases though, if the buyer is tight on cash, we try to get the seller to pay for these items. Also it is important to keep in mind that these programs cost more either in points or in the rate because they are considered high or higher RISK loans. We try to use any extra money available to pay the points to keep the rate down and to meet debt to income ratios.

For questions and more information in regards to zero down, please contact us or our partners at Capital Mortgage Solutions.

The newest member of The Haddad Team, Kim Forrest, will be holding an open house this Sunday, July 22nd, from 3- 5pm at 6488 Rushing River in Noblesville, IN 46060.

So many amazing upgrades to this 3 bedroom/ 2 bath ranch in Morse Point make it hard to pass up the chance to tour this home! Features include hardwood floors, wood burning fireplace, cathedral ceilings, and a huge backyard deck!

Contact Us for more information on this or any of our other fabulous Indianapolis area listings!

Far too often when buying or selling a home a term comes up that you have never heard before. Real Estate like many other industries has an entire set of terms that are not only unique to the business, but very important for anyone involved in the process of real estate transactions to understand.

This new series of blog entries will feature a phrase or term that will enable you to become more informed and comfortable while going through the entire process of buying or selling your home.

Planned Unit Development or PUD: A type of neighborhood project where there is common property such as sidewalks, parks, swimming pools, etc that is maintained by a homeowner’s association so all the people who either rent or own the homes in the community can enjoy them.

Are there any real estate terms or phrases that you are unsure about? Leave a comment and let us know!

One of our team members, Susan Timmerman, will be holding not one, but two open houses this weekend and two great properties!

6071 Garver Road, Indianapolis, IN

Open 12- 2pm

10175 Pamona Court, Fishers, IN

Open 3- 5pm

 Check out our more of our Featured Listings on our Indianapolis Real Estate and Carmel Real Estate Websites!

This gorgeous custom home built by George M. Sherman was built only 2 years ago. You will find premium upgrades and quality details throughout! Plus all appliances, plasma, and theater equipment stay. Truly a dream home!

Contact Us for more information!

This Sunday, July 8th, three of our listings will be having open houses.  Make sure to check them out:

12552 Elgin Court, Fishers, IN 46037 (Click for a map)

Open 2- 5pm

This gorgeous four bedroom home in exclusive Gray Eagle has recently been reduced to $387,990.  A gourmet kitchen, hardwood floors, cathedral ceilings, and more make this home a must-see!

6071 Garver Road, Indianapolis, IN 46208 

Open 3- 5pm

A classic Meridian-Kessler home that is much larger than it appears!  This 4bedroom/ 2 bath home features a full basement, sunroom, tons of updates, and is found on a quiet street, but close to so many things to do.

10175 Pamona Court, Fishers, IN 46038

Open 3- 5pm

You will find space galore in this amazing 4 bedroom/ 2.5 bath home in Fishers.  A great home for entertaining with a corner fireplace, front porch, wonderfully designed cabinets in kitchen, plus all appliances stay!

 Contact us for more information on these properties!

For more great listings visit our Indianapolis Real Estate and Carmel Real Estate websites.

There has never been a better time than now to take pride in the grand U.S. of A. Hoosiers take pride in being an American and love to celebrate the independence of this great country. Whether you spend your Fourth of July on the lake, barbequing, poolside, picnicking, or whatever you and your family loves to do, we want to make sure you have plenty to do! Check out these awesome events and firework shows around Central Indy!

Note: All events are held on July 4th, 2007 unless noted otherwise.

July 2- 4th
Symphony on The Prairie: Yankee Doodle Symphony, Connor Prairie
13400 Allisonville Road, Fishers, IN 46038
The Indianapolis Symphony Orchestra will be playing a tribute to the United States of America.
Admission: $23 for adult and $9 for children in advance; $27 for adults and $11 for children at the gate.
Show starts at 8:00pm

July 3rd
Metropolis Summer Concert Series: Zanna- Doo, Metropolis Entertainment District
2499 Futura Park Way, Plainfield, IN 46168
Zanna- Doo a Motown, disco, and pop cover band will be providing the soundtrack to a fireworks show.
Admission: Free
Time: TBD

Independence Day Party, Rathskeller Restaurant
401 E. Michigan St., The Athenaeum Building, Indianapolis, IN 46204
An annual celebration at the hip Ratshkeller in downtown Indianapolis for the 21 and over crowd.
Admission: TBD
Time: TBD

Fireworks Party, Scottish Rite Cathedral
5650 N. Meridian St., Indianapolis, IN 46204
Entertainment, food, and fireworks for members and their guests at one of Indianapolis’s most beautiful landmarks.
Admission: $10 for adults, $5 for children
Time: 6:30pm

Freedom Blast Fireworks Show
Regions Bank One Indiana Square Ste. 501, Indianapolis, IN 46204
The largest fireworks show in Indiana lights up the Indianapolis skyline and can be seen from all over the city. Tune into Q95, 94.7 FM, for the soundtrack to the show.
Admission: Free
Time: 9:45pm

July 4th Family Celebration, Indianapolis Propylaeum
1410 N. Delaware St., Indianapolis, IN 46202
A great opportunity to celebrate the 4th with your children with a flag parade, games, and much more.
Admission: $5 for adults; children get in free
Time: 6pm

Rooftop 4th of July Party, Fountain Square Theatre Building
1105 Prospect Street, Indianapolis, IN 46203
A great place for 21 and overs to barbeque, be with friends, and enjoy Indy’s downtown fireworks.
Admission: $60 per person
Time: 7:00pm

Independence Day Concert, Indiana History Center
450 W. Ohio St., Indianapolis, IN 46202
A concert at the Indiana History Center Canal Plaza featuring Circle City Sound, Indianapolis Municipal Band, and Jenny DeVoe.
Admission: Free; Reserve a table for $20-35
Time: $4:30pm

Independence in Indiana/ Canal Family Fest, Indiana State Museum
650 W. Washington St., Indianapolis, IN 46204
From the Indiana State Museum’s amazing view of the city skyline and canal walk enjoy activities and food before the downtown fireworks display.
Admission: Free
Time: 4:30pm to 7:30pm

July 4th Old Fashioned Ice Cream Social, President Benjamin Harrison Home
1230 N. Delaware St., Indianapolis, IN 46202
A perfect place to relax and avoid the crowds while enjoying ice cream and the downtown fireworks.
Admission: $8 for adults, $4 for students; children 4 and under get in free.
Time: 11:30am – 3:30pm

This amazing Manchester-style 4 bedroom located in Gray Eagle of Fishers is sure to delight with its premium amenities including hardwood floors, a gourmet kitchen, cathedral ceilings, multi-layered deck, and much more!

Contact The Haddad Team for more information on this property.

Check out our Indianapolis Real Estate and Carmel Real Estate websites for more great listings!

Our mortgage partners at Capital Mortgage Solutions are hosting an open house in celebration of their new company!

See you there!