Indianapolis Real Estate News And Information From HomeToIndy.com

For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid. Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their January 2010 mortgage payment before the end of the year.

This time of year, it’s easier for some to postpone their mortgage payment until after the holidays.

By paying in 2009, the mortgage interest paid can be applied against 2009's itemized tax deductions even though the payment isn't technically due until 2010. It can reduce your tax burden come Thursday, April 15, 2010. And lest you think you're paying the mortgage 'in advance', remember that mortgage interest is paid in arrears; a payment due January 1 accounts for interest that accumulated in December...

Carmel Indiana real estate market statistics indicate the last half of 2009 may be a turning point for home sales. While home prices aren’t back to the average sales price of the first quarter of 2008, the average sales price is remaining steady and the number of home sales in Carmel is up.

In the home sales report for the first three quarters of 2008 vs 2009, you can clearly see the average price decline to it’s lowest point in the first quarter of 2009.

By the end of the second quarter of 2009, the average home value was up to $304,270 and climbing. In November there were 103 condos and homes sold in Carmel, compared with 65  sold in November, 2008. Average Sales Price: $328,980

Single Family Home Sales:

• Homes Sold:89
• Average price: $356,914
• Average Days on Market: 92
• Highest Price Home Sold: $1,964,196.
• Lowest Price Home Sold: $40,000

Condos...

The new Good Faith Estimate makes its debut January 1, 2010. The new format will make it easier for Indianapolis home buyers to compare loans.

Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it to be simpler for homeowners and home buyers to understand than the former version. By most accounts, Congress will meet this goal.

The new Good Faith Estimate includes plain-English explanations of every fee, charge, and interest payment involved in a purchase or refinance.  It also includes a section called 'The Shopping Cart' in which applicants can compare lenders. The...

Cobblestone Springs is a popular neighborhood in Avon, located just north of Rockville Road off of Dan Jones.

This beautiful single story home offers three bedrooms, an office, formal dining room and split master bedroom floor plan.

Great Master bedroom is very spacious with his and her closets, double vanities, jacuzzi tub and separate shower. A real retreat!

The large covered patio and deck overlooking the pond provides privacy, as well as a beautiful view from the back. SOLD in 10 days! ...

Avon Indiana Real Estate Market Report

Comparing the last two years data for Avon Indiana for the first three quarters reveals both the number of homes sold and the average price of homes sold was down year to year. The anomaly was the month of November, which I attribute to the  fact many first time home buyers already had closings scheduled before the credit was extended.

I could almost contribute the lower price point in November to the first time home buyer credit, except the home prices were down last year in November, as well. When we consider the number of sales in November was up by 75% over last year, the average price point may not be as dismal as it first appears.

Considering the amount of first time home buyers in the market and the affordability of homes in Avon, it's expected there would be more lower...

APR is an acronym for Annual Percentage Rate.  It's a government-mandated calculation meant to simplify the comparison of mortgage options.

A loan's APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure.

Because APR is expressed as a percentage, many people confuse it for the loan's interest rate.  It's not. APR represents the total cost of borrowing over the life of a loan.  'Interest rate' is the basis for monthly mortgage repayments.

The main advantage of APR is that it allows an 'apples-to-apples' comparison between loan products.

As an example, a 5.000 percent mortgage with origination points and fees will almost certainly have a higher APR than a 5.500 percent mortgage with zero fees.  In this sense, APR can help a borrower determine which loan is least costly long-term.

However, APR is not without its shortcomings.

First, different banks includes different...