Paula Henry

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Archive for January, 2008

Is It Time to Buy Your Indianapolis Home?

January 23rd, 2008 categories: Indianapolis Real Estate News, Indy Home Buyers

Homeforsale (Small) (2)This is the time of year when many start their search for a home. For some reason, the end of football season signifies the start of home buying season.

Here in Indianapolis, the Colts have been eliminated from the Super Bowl, so we are seeing a jump start in homebuyers who are looking to make a move into a new home this year.

Although the Colts didn’t make it to the goal line enough times to ensure a victory, 2008 looks like a winning year for buying a home.

Interest rates are down! While mortgage standards for qualifying have changed, there are still plenty of loan programs available to fit the needs of most homebuyers.

We still have more homes on the market than demand, giving buyers more choice in homes in all price ranges.

Home prices are down – In most cities and neighborhoods around Indianapolis home prices are down from the last two years.

I personally believe it is a great time to buy a home in Indianapolis.

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Authored by Paula | Discussion: 1 Comment »

Protect Your Home From the Indianapolis Winter Cold

January 22nd, 2008 categories: Indianapolis Real Estate News, Indy Home Sellers

Water leakIt s the call you don t want to receive. A neighbor of one of my listings left a message saying water is pouring from beneath the garage door. The neighbor turned off the water and called both myself and the owner.

This particular home has the utilities on and my partner was just there the day before to check on the home. What s a homeowner and a Realtor to do?

As the temperature drops, there are a few simple steps you can take as a preventative measure against the damage from a busted pipe.

If the home is vacant and has the utilities on, you should keep the temperature set at fifty-five to sixty degrees.

Insulate the hot water heater and exterior water faucets. If you have a crawl space, insulate the pipes you can get to. Same for visible pipes in the basement. It is always colder in the basement than the main floor.

Disconnect water hose and sprinklers from all exterior faucets.

If the home is vacant and does not have the utilities on, a homeowner will need to winterize the home. This can be accomplished either by the homeowner or by a professional service.

Take the necessary steps to protect your home from the devastation of water damage.

Authored by Paula | Discussion: 1 Comment »

Historical Indiana Facts or not……

January 20th, 2008 categories: Indy Trivia

I am one of those people who really enjoy history and facts. So, I hope to bring you a few factoids here and there.

This one is probably fact .

Origin of the Name Indiana

The name “Indiana” simply means “land of the Indians.” This refers to a large number of Indians that were located throughout the state when the first settlers to this state arrived.

I have never seen an Indian in Indiana although I have seen several in the West and Southwest states. I m not sure we even have an Indiana reservation in Indiana.

This next one has been debated time and again .How did the people of Indiana pick up the moniker of Hoosiers? Well, you can believe one of the following, or another you have heard.

Origin of the Nickname Hoosier

Indiana may have been referred to as the “Hoosier State” as early as the 1830s. There are many explanations as to why we are called Hoosiers. Some of the explanations are funny, illogical and believable. Here are some of the most common explanations.

The Who’s Here Story-on the early Indiana frontier, log homes were few and far between in the Indiana interior. There were no real close neighbors, so when someone knocked on a cabin door or was heard coming through the woods, a person would yell out “Who’s here” or “Who’s yere.” This evolved into the word “Hoosier.”

The Who’s Ear Story-this story was popularized by the Hoosier poet James Whitcomb Riley. In frontier Indiana there were many small taverns and saloons scattered throughout the state. Continually fights broke out in these bars with punching, biting, scratching and gouging occurring. The next morning the bartender was likely to find an ear on the floor of the saloon, nudge it with his foot and call out “Who’s Ear?” This evolved into the word “Hoosier.”

The Hoosier River Men Story-Along the waterways of the state there were bullying and rambunctious Indiana rivermen, always ready for a brawl, who were reputed to be quite successful in winning all of their fights, “hushing” their opponents. They became known as “Hushers” and eventually “Hoosiers.”

Mr. Hoosier Story-it is said that a contactor named Hoosier liked to hire Indiana men to work on the Louisville and Portland Canal. These men became known as “Hoosier’s men” and later, “Hoosiers.”

Information provided from the Northern Indiana Center for History website. Check out their site for much more about Indiana.

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Authored by Paula | Discussion: 3 Comments »

Real Estate Term: Earnest Money

January 16th, 2008 categories: Indy Home Buyers, Indy Home Sellers, Real Estate Terms

When a buyer and seller reach agreement on a home sale, the buyer typically puts a small amount of money into a trust account. This up-front deposit is more commonly known as earnest money.

When a buyer and seller reach agreement on a home sale, the buyer typically puts a small amount of money into a trust account. 

This up-front deposit is more commonly known as “earnest money”.

A sales contract’s earnest money requirement will vary from contract to contract.  It can be as high as 10 percent of the purchase price and could be as low as $500; earnest money is a negotiable item between buyers and sellers.

Some factors that can influence earnest money amounts include:

  • Market conditions: Stronger markets often call for more earnest money
  • Buyer economics: First-time buyers often give less earnest money
  • Seller psychology: Skeptical sellers often ask for more earnest money

No matter how large or how small, however, earnest money is supposed to give the seller a sign of good faith that the buyer wants to purchase the home. 

To this end, earnest money can be forfeited if the buyer later “backs out” of the deal, or breaches the terms of the purchase agreement. Breaching, however, is infrequent. 

This is because most purchase contracts are written with buyer-focused “outs” called “contingencies”. 

A typical contingency is that the seller must provide a clean title policy to the buyer, or that the buyer must secure financing prior to given date, or that the home must pass a satisfactory inspection.

If any of these contingencies cannot be met, the purchase agreement is voided and earnest money returned to the buyer.

When contingencies are met, however, earnest money becomes a deposit and is applied directly to the buyer’s bottom line at settlement.  If the buyer is expected to have $50,0000 for the closing, for example, the true bottom line is $50,000 minus the earnest money deposit.

Earnest money customs vary from state to state, city to city, and even locale to locale.  Be sure to ask your real estate agent and/or real estate attorney for professional counsel before signing purchase contracts. 

The earnest money you save may be your own.

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The Airport Deli in indianapolis

January 13th, 2008 categories: Indy Places

If you work near the Indianapolis International Airport, chances are you know about The Airport Deli. If not, I’m here to tell you. I love this little restaurant located on Indianapolis’ westside.

Coverted from a small bungalow home, it is a quaint little place and everyone is very friendly.

 Airport Deli Indianapolis

It’s a great place to grab a quick lunch, with easy access from the airport and businesses around the airpark. My favorite is the warm pastrami sandwich, while my daughter likes the chicken salad with marinated vegetables. Homemade potato chips, made on site, are a rare treat and homemade soup du jour served daily.

They are only open for lunch, Monday thru Friday, 10–4.

6446 W Washington St
Indianapolis, IN 46241
(317) 243-2059

Airport Deli IndianapolisAirport Deli IndianapolisAirport Deli Indianapolis

 

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