Paula Henry

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Archive for June, 2007

Indianapolis Historic Neighborhoods

June 30th, 2007 categories: Downtown Indianapolis, Indianapolis Real Estate, Indy Neighborhoods

Lockerbie Square in Downtown Indianapolis

Front Porch in Lockerbie SquareTonight I am meeting some friends for dinner at Amici’s in the Lockerbie Square area of downtown. While waiting for eveyone to arrive for dinner, I couldn’t resist the temptation to walk down the street and take some pictures. I am not, by any stretch of the imagination, a great photographer. I just like to take pictures and sometimes I surprise myself. So, I persist……

Walking down a street of remodeled homes from the 1800 and 1900’s for me, is like letting a child loose in a candy store. These homes are absolutely amazing. I could walk through these neighborhoods for hours and never tire of the beauty and architecture.

The revitalized Historic Districts in Indianapolis has brought renewed life to the streets and homes here. Many of the people here are new, some have lived here a very long time and have seen the changes first hand.

I met Carol, one of the residents there, while walking. She has lived in Lockerbie Square for 17 years. She allowed me to take some pictures of her gardens and the outside of her home. I have posted the tour separately.

Historic Homes in Lockerbie Square

Historic Homes in Lockerbie Square

Historic Homes in Lockerbie Square

Historic Homes in Lockerbie Square

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Indianapolis Property Tax Rebates ~ Clear As Mud

June 30th, 2007 categories: Indianapolis Real Estate News, Indy Home Buyers, Indy Home Sellers, Real Estate Financing

Wading BootsDear Prospective Client:

I must tell you up front there is a new form attached to  the Indiana Residential Real Estate Contract I do not understand. Oh, I will try……..but even with these boots, I’m not sure I can trudge through the uncertainty of the current “new” form (2007 Property Tax Rebate Disclosure Form) I must have you sign. One thing is certain, I won’t be alone!

By now, all the great citizens and taxpayers of Indianapolis have been made aware of property tax increases affecting  homeowners.

As a Realtor, one of my obligations and required documentation I must have is a estimated costs sheet for buyers or an estimated net proceeds for sellers. Generally this is not too complicated, except for one little cost…..the tax rebate.

The new form requires me to let you know about the possible rebate. The form acknowledges there may be some confusion and/or disagreement over which party (buyer or seller) should receive credit for the anticipated tax rebate. Okay – we are good so far………the amount should be able to be prorated or agreed upon at closing, just like taxes.

Herein lies the problem:

  • Homeowners will be required to pay the full amount of their 2007 tax bill
  • A tax rebate is anticipated, but, not guaranteed
  • The anticipated tax rebate amount is currently unknown
  • The tax rebate will not be available for some time
  • The rebate plan is contingent upon funding provided by the Property Tax Reduction Trust Fund
  • The anticipated tax rebate will likely be mailed to the same person who received the property tax bill.

Everyone of these “bulleted points” can be found in the Disclosure Form I now have to have you sign, indicating you have read and have been notified of the Indiana 2007 Property Tax Rebate Plan.

It does not say you have to understand the rebate plan, only that you acknowledge there is one. Well, there’s kinda one………….

This becomes a source of frustration when trying to represent you, my client. While we know the amounts of the tax paid, how on earth do you negotiate an amount already paid, which may or may not be rebated and to whom it will be rebated?

Our Indiana Association of Realtors has drafted this from for your benefit. It is the best we can do with the uncertainty surrounding the Tax Rebate. Sometimes all we can do is inform you.

I am busy trying to figure out some answers. If you don’t hear from me soon….I held my breath too long!

 

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The Skies Are Looking Sunny in West Indy

June 29th, 2007 categories: Indianapolis Real Estate News, Real Estate Financing

577605_business_park_building_-_glass_detail_1Never mind the days of rain we have had recently or cloudy skies! The business news this week is bright for the western portion of Indianapolis.  

Purdue Research Foundation announced plans for a technology park at Ameriplex Indianapolis business park. Appropriately named, Purdue Accelerator Park at Ameriplex-Indianapolis, the park will help create new high-tech businesses and promote the expansion of established companies. The park will accommodate up to 75 businesses and create 1500 jobs.

The business park will be located along the I-70 corridor near the new Indianapolis International Airport, consisting of 78 acres. Indianapolis and the State of Indiana will help fund the project with a 5 million dollar city grant and another 2 million dollar state grant. The state grant is contingent upon the creation of 2000 jobs. Job creation is good news for the city of Indianapolis.

The finished business development will provide:

-50,000 - 70,000 square foot multi-story office building

-100,000 -150,000 square foot industrial building

-300 bed, six story hotel with 30,000 square foot conference center

-3 restaurant and retail sites

-space for four additional buildings

 Add this to the new jobs which will be created by the opening of the new airport, the future is looking bright!

 

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Maximize Your Investment~Indianapolis Real Estate

June 2nd, 2007 categories: Indianapolis Real Estate News, Indy Home Sellers

HomeforSaleYou ve decided to sell your home and know you have to do some things to get it ready for the market. Where s the best place to start and what repairs will return the maximum amount? I m glad you asked!

For starters, clean out anything you don t need! Box it, donate it, or throw it away. It will make unpacking at your new home a much easier task. read the rest

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