Thursday, April 9, 2009

Peep Show






What to do with all that extra candy the easter bunny left behind? Make a diorama! Don't let your kids rot out their teeth on that sugary stuff, let them play with it! Check out these fun Peeps Creations from the 2nd annual Washington Post's Sundary Source Peep's Diorama Contest.


Wednesday, April 8, 2009

Happy Passover!


Happy Passover to my Jewish friends! Passover starts tonight at sundown and lasts until nightfall on Thursday, April 16th. It usually last eight days and commemorates the exodus of the Hebrews from Egypt. A Seder meal is held on the first night of Passover at home and it is basically a big feast. New clothes, fine china, it's like the Chinese Lunar New Year! Here are some ideas for setting your Passover table.









Wondering what you should do for the Passover holiday, the website which I found here gave almost a spring cleaning list. I think in every culture there is a "spring cleaning" to purify yourself and your home. Sometimes it takes something like a holiday, relatives visiting, or some other event to force you to get your home in order. at least it does for me.




Tuesday, April 7, 2009

Buy a Foreclosure With No Down Payment

The Indiana Housing & Community Development Authority (IHCDA) has come out with a new loan program for those who are interested in purchasing foreclosure HUD properties. You don't have to be a first time homebuyer either! The NSP (Neighborhood Stabilization Program) will be available starting on April 9th and basically offers assistance with the down payment, closing costs, the rehab costs or a combination of all three. There are different ways this program can be used as well- second mortgage, etc.

Here is a breakdown of the program:


  • The DPA (down payment assistance) that you will be given is either 20% of the purchase price or $15,000, whichever is less (that is a lot of money!!!)

  • Can be used with an FHA, VA, Conventional programs

  • Must be an owner occupied property (so you can't do this for something you want to rent out)

  • You have to take 8 hours of home ownership training (they do this so that people are fully aware of everything, and since they are giving you the down payment, it's probably worth it).

  • Repairs by the contractors will be done before closing

  • Homes that are 50 years and older may be up for 'historic review' (to make sure it's structurally sound and stuff)

  • If you move in 5 years or less, you have to pay all of the down payment back. 6-10 years, it is pro-rated for 1/5 of the amount every year.

  • Other requirements & information available.


There are also income limits to this program and other stipulations to qualify for the program. However, if you have had your eye on a home in great neighborhood that needs a little bit of tlc, or have thought about owning but nothing that "looks nice" is in your price range, this may be a great program for you.


1616 Yandes- 2BR/1BA & in Great Condition!
The list of homes that are available under this program is located at this website. I have a list of preferred lenders that you can talk to about this program or feel free to contact me with any other questions at rupton@c21scheetz.com if you are interested.


(There are other DPA & low interest rate programs for first time homebuyers for homes that don't need to be fixed up so feel free to contact me with any other questions)

Saturday, April 4, 2009

Too Extreme?


The "Extreme Makeover" show has been in Indianapolis the past week. If you have never seen an episode of this show on ABC, basically they pick a family somewhere in the country that "deserves" a new home because they are do-gooders in the community. They have staff and tons of help from the community and other sponsors to actually help build/renovate/decorate the house. The family usually goes on a vacation and then they come back, are surprised, and everyone's happy. I have seen a couple episodes of this before, never was a huge fan (I prefer watching other hgtv shows, like budget makeover, or this old house).

I know several people in my office, realtors in other offices, and people in the community have been helping with this project for the past week. Today they will be filming the unveiling of the makeover to an Indianapolis Public Schools worker, and his family of three sons. They seem like a nice, deserving family.

My issue is more with the premise of the show. I know this opinion won't be very popular, but if you know where this area is in Indy, it's all smaller homes, a little run down and several foreclosed properties all around. Not the absolute "worst" area but certainly not a place I would invest tons of money into one house for. Again, this family seems to be really great, the dad does a lot for the community, but why don't they just spread the wealth? I'm not trying to be a socialist here (those who know me well, know that I'm far from that) but it doesn't make sense for this show to spend all this money, time, and effort into one home. What happens when they leave and the family moves in- the house could get broken into, they have to be able to afford the high maintenance of this now bigger and totally remodeled house, and if/when they need to move and go to sell in a few years, who would buy it? The realtor pricing that home is going to have a difficult time.

A more ideal home makeover show, in my opinion, would be to pick a small neighborhood or few blocks where 'Extreme Makeover' could come in and replace some windows, siding, roofs, perhaps update some electrical and plumbing, do some nice landscaping, and then of course the cheapest way to beautify a home- paint. This way, an entire area would benefit, they would bring the value of the homes around it up, and everyone collectively could have a sense of pride about where they live. To be fair, I think Estridge (Carmel based home builder) is helping with some neighborhood landscaping, but I wonder how much it will really help. I will probably go drive by it next week and check it out for myself.

Buying and selling homes is a funny business. Even though a house is your own, your neighbors' homes around you affect it just as much as the condition you keep it in. Changing a whole neighborhood, which would attract new businesses and make people want to come to that area- that would have a bigger impact on people in any neighborhood. To me, that's an extreme makeover.

Wednesday, April 1, 2009

Even the gods love jokes. ~Plato

Happy April Fool's Day! This Old House (one of the websites I frequent) has an absolutely silly online article about some of the craziest homes in the world- check it out.