Tagged : Indianapolis Real Estate

I am sure everyone has heard that the tax credit for first time home buyers has been extended and expanded so I thought I would post the main bullet points of the new bill as well as a quick reference guide for the first time homebuyer tax credit for Indianapolis home buyers.  The main bullet points are:

•    Contract must be signed by 4/30/10 and close by 6/30/10.
•    First-time homebuyers (not owned a home in the last 3 years) will receive an $8,000 tax credit.
•    A $6,500 tax credit will to buyers is they owned their current home for at least five consecutive years in the previous eight years.
•    Individuals with income under $125,000 will qualify.  Couples with income under $225,000 will qualify.  This is up from $75,000 for singles or $150,000 for

I just thought I would share a recent experience I had with another Indianapolis real estate agent when submitting an offer.  We recently put an offer in on a home in Indianapolis.  I called the agent to let him know it was coming over and to expect it in his email.  He proceeded to tell me he was out of town and couldn’t get to the offer until later and he thinks the seller is out of town as well so it might be several days before we hear back.  Well, we did hear back a little sooner than expected but it still took longer than it should have.  A few counter offers go back and forth and this process repeats itself taking more and more time.  Well we finally agree on a price and send over our final counter offer.  The seller has now agreed to the price but

There is a new law that takes effect next month that will have a big impact on the way closings are handled in the state of Indiana. The “good funds law” or House Bill 1374 will require all funds to bring to a closing over $10,000 to be in the form of a wire to the title company.

Effective July 1, 2009, any funds presented at closing over $10,000 must be in the form of a wire before a title company can disburse. This law affects all escrow funds in connection with a real estate transaction whether it is residential or commercial.

Update: It is official...CP Morgan is out of business and shutting its doors as of 2/27/2009.

If you are a customer under contract with CP Morgan and are considering purchasing a new house, please call me!! I know which builders are stable and which ones are not. Don't let this happen again, email me or call me anytime 317-733-3667.

Let me just start out by saying that this is pure rumor and speculation at this point, but word on the street is the CP Morgan could be shutting its doors.  I have heard that a shutdown is eminent and could come quite quickly.  

If CP Morgan does goes out of business, they will join several other builders in the market who have either left Indianapolis or simply been forced to shut their doors.   In the past