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The information shared at the February 11, 2010 by our speakers was worthwhile and very informative.  While the seminar has already been held, we are still available to share any  information with you and direct you to documentation on this subject as well. 

Generally, guests were surprised to discover some facts about the up to $6500 tax credit which may be available for existing home owners.  One of the misconceptions had to do with having to sell the present home.   The critical point has to do with primary residence.  While the existing home does not necessarily have to be sold or be of lesser value than the intended home, the intended home must be the primary residence.   Of course, the ability to qualify for a second mortgage for the intended property is necessary and sometimes difficult to obtain as mortgage underwriting criteria has changed.

Seminar speakers included:

Steve Stringer of Blue & Company
Shane O’Keefe of Centra Credit Union
Keith Luken of Indiana Bank & Trust
Jeff Fetterer, Anne Hittler & Marsha Kanable of Main Source Bank
Tina Exline of Stewart Title Services

Additional information is available on our website http://www.C21Breeden.com

Tax Credit - Not just for 1st Time Buyers

We are having a Tax Credit Seminar on Thursday, February 11, 2010 at 5:30 pm at 700 Washington Street. 

Our Special Guests participating in our panel discussion will be:

Blue & Company
Centra Credit Union
Indiana Bank & Trust
Main Source Bank
Stewart Title Services

There are so many misconceptions about the Tax Credit, especially regarding the up to $6500 credit for Homeowners.  Many believe it is necessary to buy a larger home and that the current home must be sold before the tax credit would apply. 

We would like to invite you to hear these speakers address the facts as well as your questions. 

Basis information about the Tax Credit is available on our web site:  www.C21Breeden.com .

Video of Summer Flowers & Artists

Dreams of Summer

Indiana shared in the “Big Snow” that swept through the country, not to the extent  the East Coast suffered, however.    Our snow, fortunately, was more manageable.  When viewed from inside, it was actually pretty. 

The snow did encourage the longing for flowers and summer landscape.  This caused a diversion from real state thoughts to a search for flowers and things of beauty that I have stored. 

During 2009, our company held 840  Open Houses in all sorts of locations and price ranges.    In our South Central Indiana location, Open Houses are an effective way for Sellers to gain increased exposure and advertising.  Open Houses also serve the purpose of  allowing potential Buyers an opportunity to screen homes, better define their housing requirements and priorities and meet agents. 

The establishment of a relationship between Agent and Buyer is really important.  Finding someone who  understands the timing, financing, physical appearance and space demands, color and style preferences is extremely important.    When the message is not clearly understood by the Agent who continues to find  properties that never quite fit, the Buyer eventually becomes frustrated, sometimes believing that the perfect house doesn’t exist or perhaps their expectations are unrealistic.  A real danger of the Buyer settling for that “WILL DO” property is very sad for it typically translates into another move, earlier than intended. 

Of course, another problem that happens in the situation where Agent can’t find a property or understand the Buyer’s preferences is that the Buyer becomes frustrated and puts off purchasing for an extended period.   The obvious problem created by this miss is the loss of tax benefit, appreciation, maybe , a favorable interest rate and possibly missing  the window of opportunity for the Tax Credit.

After years of selling residential real estate and thoroughly enjoying it, I believe every Buyer has the right to feel excitement about the purchase of a first home, a new home, or just a different home.  Despite the price range, the decision to move forward with larger, newer, wooded, country is great.  Change is great.  So often, I have witnessed people  “stuck” with same old house, same old furniture, same old landscaping decide to take the “plunge”.  What I have then observed is a new excitement/interest in life.  With the purchase of new furniture, interest in fixing up, planting trees -all of a sudden, life is fun!

The special thing I experienced as a real estate agent was a satisfaction and fulfillment in playing a role in such a happy experience.

Our Ladybug is Smiling

Stop by and see our Happy Ladybug.    Enjoying her New Home at 7th & Washington, she can be viewed when even driving down the street.

Church Steeple

Upon returning from a long-weekend vacation in Quebec City (some pictures of Quebec City are included), I glanced at the stack of newspapers that had accumulated from the 5-day trip.  As I was attempting to read the local newspapers (The Republic -  http://www.TheRepublic.com) that had accumulated during our absence, I was struck by the fact that my mood was so improved by some optimistic headlines that had appeared regarding Cummins Engine Company jobs, the start of the construction for the long awaited Commons in downtown Columbus and the plan under consideration to build a new condominium project also located in downtown Columbus.

Statue on the Square

The national news media has been focused on signs that the recession could be ending.  Locally, we are seeing signs that the economy is improving; we are seeing more traffic on our websites, more inquiries

Sidewalk Cafe on the Square

on our listings and agent showing activity has definitely increased!  As the interest rates remain appealing, it is our hope that the pent-up demand that we have been waiting for may in fact be surfacing.

As a real estate company, we have been sensitive to the frustration of sellers who need to sell quickly when “selling quickly” hasn’t been the reality.  We have talked about positioning a property to distinguish it from the others within a price range to make it stand out, increasing the appeal to possible buyers.  

We are continuing to work tirelessly to create the programs, increase the marketing efforts to attract the buyers for this is truly an excellent time to buy.  We are educating on the up to $8,000 1st Time HomeBuyer Tax Credit and the need to act now to take advantage of the program requiring closing on the property before December 1, 2009.

Gorgeous scenery

This weekend -
                         Saturday, August 21   1-3pm
                         Sunday, August 22     1-3pm & 3:30-5pm

we are holding 33 Open Houses.  With a variety of price ranges, locations and features, our open house weekends have been well attended.  While many potential buyers have typically attended these events, it also allows those just beginning the ”buying process” an opportunity to gather facts and discover their preferences.  Often before a real decision is made to proceed seriously and contact a real estate agent, the chance to “meander” through a home without the obligation for a decision is non-threatening.

Super Open House Weekend

Super Open House Weekend at Century 21

 As the national news media has begun to speculate that our economic woes could be coming to an end in the near future, we believe that those who might have purchased homes earlier this year could in fact begin to shop again.  This event presents an excellent way for some of those with possible interest to get acquainted with the inventory available in Columbus, Indiana.

There is no question that demand for homes in Columbus Indiana  has been drastically reduced.    Of course, this is true in Indiana real estate as well as homes sales across the country.

The number of sales of homes for 2009 year-to-date thru 7-31-09 as compared with the same period in 2008 in Columbus was reduced by 33.5%.   When comparing 2009 to the same period in 2007, the number of sales was reduced by 44.5%.    This is an enormous difference. 

It is obvious that the Columbus real estate market has suffered during 2009 beyond all expectations.  The lower interest rates and buyer incentives have created some demand but have not stimulated the market locally or nationally as hoped. 

Likely,  a long term reduction in the pool of buyers will be the consequence of of the increases made in required credit scores raising the score necessary higher for mortgage loans.  Also, there have been changes in minimum down payment so that no down payment loans and seller participation in the down payment programs are no longer available.  

Thus pessimism, joblessness, high credit scores and greater down payment have all played a huge part in a greatly reduced number of sales for 2009.   Some of these changes will have long-term effects on real estate in Columbus, Indiana certainly.

During the past few years, many changes have occured in Indiana real estate as far as the manner in which real estate is handled.  While some thought the internet would pose a real threat to real estate companies, making them no  longer necessary, the internet has actually become another form of marketing properties for many Realtors across the nation, Columbus Indiana real estate being no exception.  This has caused buyers to be  better prepared, better educated as they concentrate on homeownership.

The fear was years ago that buyers would simply choose a home over the internet  allowing buyers to view the home electronically, e-mail an offer and eliminate the Realtor involvement.  In reality, the internet has certainly better equipped the buyer with information on the selection available, but the interaction between seller, agent and buyer has remained an integral part of the successful transaction.

Newer changes also involve the HVCC (Home Valuation Code of Conduct) changing the way appraisers are to conduct themselves, especially as related to communication with lending institutions.  The arm’s length directive is thought to be a step to help police and solve some of the practices which made victims out of buyers as predatory lenders manipulated the transaction by trying to influence the appraiser to change the appraisal.   As these practices have been discovered, remedies have been put into effect such as HVCC to prevent such actions.

Another change involves a 3-day waiting periods to eliminate rapid changes in lending practices which could result in excessive pressure on the buyer to make quick decisions, sometimes even in the 11th hour at the closing table.  Such pressure to act is seldom in the best interest of the buyer and for this reason, the waiting period should result in better understanding and less confusion.

While some of our economic problems have involved the real estate market, many corrections have been made to the process, eliminating many questionable practices and people.