My New Blog

Have you seen the ads on T.V. or heard the radio spots about the Real Estate Seminars on investing? They make you think that they've found all the secrets and if you trust them and their "proven" techniques, you'll be a millionaire soon. I am all for investing in Real Estate and I think everyone should consider it as an investment option. Don't pay for these seminars and don't send away for these tapes. All the information you need can be obtained through qualified Real Estate Brokers.

Why use a Real Estate Broker or Salesperson? They are licensed and work under license laws and ethic codes for one. They are local and know the market. They will be paid by the Seller at closing but owe you their loyalty and are working for you...their service is free to you. They will be there when you decide to sell your investment home, and are vested in your long term success. They know factual data that you will need to make a good investment decision. They are knowledgeable about the financing of investment properties and will help you clear some of the hurdles in your way. They have access to most of the available properties and will know about the real good ones before they hit the market, in some cases.

With prices at their record lows, now could be the best time for you to enter this investment market. Find a home with a positive monthly cash flow, buy it right to provide a positive appreciation, make good rental decisions, and try to pay it off as quickly as possible. After ten years or so this will be a strong part of your investment portfolio. Good luck and happy hunting!

Jeff Carroll

Broker/Vice President

F.C.Tucker Company   

You can tell from the title of this blog, that the Indianapolis area is seeing record low home prices. This is great for buyers! Unusually high inventory of existing and new construction homes ,and a severe credit crunch are fueling these prices. A recent survey showed that 90% of all area homes are selling for less than $200,000. This is a troubling trend and one I hope will reverse soon. We really need to increase sales across the board for a more balanced market. Move-up Buyers are not making the "move" right now. We are seeing our home inventory drop within this price range, but home values are dropping as well. 

We had a remarkable run in the real estate market over the past 15 years or so. Compared to the past three years we are in a soft market and getting softer. Does this mean we shouldn't buy homes or invest in any form of home  ownership? Absolutely not! Buying a home has never been more affordable and the future will shine bright for homeowners. What we all should be doing is shoring up our finances and buying homes we can comfortably afford. Let's pay down or eliminate these equity lines on our homes that can jeopardize our long-term investment. If you need to refinance your home, look to a 15 year program that will pay down your debt quicker and save you tens of thousands of dollars. Don't refinance your home on a 30 year note over and over again. All you are doing is creating more debt. Appreciation will be back but it won't be at the levels we've seen before. Don't borrow against future appreciation estimates.

The Midwest is starting to recover and positive signs are emerging in our market. Low interest rates, lower inventory, lower prices, stable local economy & tax base, and a positive change in consumer confidence are turning this market around. It is a slow movement but we expect these home prices to come back within the next 12-18 months. That's when I think the market will balance itself and we will begin to see an increase in the move-up buyer's.

Have your best day ever!

Jeff