Bob Murphy Online: October 2009

O.K. here is the latest that I know about the extension of the tax credit.

The Senate has tentatively agreed to the following:

1) Extend the current $8000.00 First Time Home Buyer Tax Credit to April 30th 2010.  As long as a home is under contract by April 30th and closes by June 30th 2010 the First Time buyer would get the credit.

2) Raise the income limits to $125,000.00 for a single person and double that for a married couple.

3) Add a $6500.00 credit for existing home owners who have been in their current home 5 of the last 8 years as their primary residence.

However the House has several bills floating around and no action has been taken on any of them.  The house will have to pass a bill of their own or possibly adopt the Senate version (assuming it actually passes) before it could be sent to the President to be signed into law.

One hold up is the IRS.  The IRS has to find a way to insure there is no opportunity for Fraud with the tax credit.

Another hold up is the house is waiting to see what impact the current tax credit had on the economy.

Bottom line is we aren't there yet, for those who want an extension of the tax credit.  It looks like it may be weeks yet before we know anything for sure.

Indidna Market Stabalization Program offers Buyers $15,000.00 toward the purchase of a home.

Through Indiana Housing a home buyer interested in pruchasing qualifying Foreclosure properties there is $15,000.00 available to help a buyer make that purchase.

The Market Stabalization Program offers:

1) Home buyers at or below 120% of area median income up to $15,000.00 (not to exceed 20% of purchase price) to purchase a foreclosed home as their principal residence.

2) Closing costs and down payment assistance to acquire the foreclosed property.

3) Rehabilitation funds to bring the foreclosed home up to local building codes.

4) A zero interest, non amortizing second mortgage loan.  These funds are not required to be repaid if the property remains the homebuyer's principal residence for at least 9 years.

5) Eight hours of pre-purchase education provided by an IHCDA certified counselor at no cost to the homebuyer.

6) An easy online tool at www.IndianaHousingNow.org to determine if a foreclosed property is in an eligible neighborhood.

By the way these funds can be used in conjunction with the IHCDA First Time Home product.

If you would like to know more about this amazing program please contact me at Bob.Murphy@RealLiving.com or you can call me at 502-773-2564

 Some helpful hints regarding H1N1 (Swine Flu)

H1N1 (Swine Flu) - What you need to know

The flu season is upon us and due to the additional threat of the H1N1 virus, otherwise known as Swine Flu, it's more important than ever that you take precautions to protect yourself and your coworkers. 

What is the H1N1 virus?

The H1N1 virus is a new strain of flu that is spread mainly from person to person when infected people sneeze or cough around others, or by touching something with flu viruses on it and then touching your eyes, mouth or nose.  Symptoms of swine flu are similar to seasonal flu symptoms and include fever or chills and a cough or sore throat.  Infected persons may also experience runny or stuffy nose, body aches, headache, fatigue, diarrhea or vomiting. 

What steps can you take to protect yourself and your coworkers?

We recommend that you take the following actions to prevent the spread of the H1N1 virus at work.

• If you are ill, please stay home and do not come to work.  The most important step you can take to protect yourself and your co-workers is to stay home when you are ill.  We ask that employees with flu-like symptoms stay home until they are fever-free for at least 24 hours (without the use of fever-reducing medicines).
• If you become ill at work, go home.  We hope that you elect to do this anyway, but your supervisor may also send you home if you are experiencing flu-like symptoms at work.
• Wash your hands frequently with soap and water.  Be sure to vigorously scrub for 15-20 seconds before rinsing.  If soap and water are not available, alcohol-based sanitizers are also effective.
• Cover your mouth when you cough or sneeze.  Cough into a tissue or your sleeve rather than your hand to prevent the spread of the virus.
• Avoid touching your eyes, nose or mouth.  Germs are commonly spread this way!
• Clean hard surfaces and items that are likely to come in contact with hands. The flu virus can live up to eight (8) hours on hard surfaces, so it is important to clean these surfaces and items often.
• Get vaccinated if your physician deems it appropriate.  Seasonal flu vaccine is available now.  The H1N1 vaccine is projected for release in October.  The initial availability may be limited to certain high-risk populations including pregnant women, people who live with or care for children younger than six (6) months of age, healthcare and emergency medical services personnel, persons between the ages of 6 months and 24 years old, and people age 25 through 64 years of age who are at higher risk because of chronic health disorders or compromised immune systems.  More information regarding the H1N1 vaccine will be distributed as it becomes available.  As always, we recommend that you follow the advice of your physician regarding the appropriateness of these vaccinations; however, if your doctor deems it appropriate, we encourage you to get vaccinated!
• Prepare for school or child care closings.  Develop alternate child care plans that can be implemented if your child's school or day care closes.
• Stay in good health by getting plenty of sleep, eating nutritious foods, managing stress, drinking plenty of fluids and being physically active.

Office Condo in New Albany Indiana

If you are looking for a great location for an office in New Albany Indiana this just might be the perfect spot for you.  This Condo is approximately 1000 square feet and is already built out to contain a reception area and three private offices.  There are in fact three condo's available with one not yet built out.  All three units run side by side and could be converted into one very large office. 

If you think you might be interested please contact Bob Murphy ay 502-773-2564 or you may email Bob at Bob.Murphy@RealLiving.com

Indiana Housing has Buyer Programs many are unaware of:

Indiana Housing Home Ownership Programs are available to home buyers in Indiana who haven't owned a home in the past three years. 

There is a wonderful program that provides a tax credit every year as long as you own your home.  This could be far better then the current $8000.00 tax credit offered by our Federal Government.  It's called the Mortgage Credit Certificate.

If you work with a lender that is not an Indiana Housing participant.  It's easy.  Just sign up and take a two hour training and your favorite lender can become an Indiana Housing participant.

Want more information about the many benefits of Indiana Housing?

Visit: www.IN.gov/IHCDA

Ahhh!  The life of a King and his Queen.  I can remember when life seemed as easy and relaxing as it appears to be for these two above.  Of course that was before I became a REALTOR !

Home for Sale in Sellersburg Indiana

This 3 bedroom 2 Full bath home is located in Sellersburg Indiana in the Silver Glades subdivision.  It has a full unfinished basement and sits on a 1 Acre lot.  This is probably the largest lot in the development.  The backyard is entirely fenced in too.  The back deck is extra large as well.

If you would like to see more photos and details on this home please follow the link below to this homes webpage:

http://4116silverglade.realliving.com

Wonderful Home in New Albany Indiana

This wonderful Home in New Albany Indiana has 3 bedrooms and 2 full baths.  It's all brick and has an unfinished basement and fenced backyard.  The Sunrise subdivision where this home is located is a quiet neighborhood in New Albany's Northeast end. 

The hardwood flooring is real hardwood not a laminate.  This home has a very nice open fell.

If you would like a closer look through photo's just click on the link below and you will be taken to this homes webpage.

http://www.realliving.com/Property/Details.aspx?PropID=13887928

Awesome Home in Clarksville Indiana.

This awesome home in Clarksville Indiana is offered at $129,900.00.  It has three bedrooms and a finished basement.  The backyard is fenced and has a great Patio for entertainment.  It's located in a quiet neighborhood yet still close to shopping.  Just 10 minutes from Louisville Kentucky.

Think you might be interested then follow this link to this homes webpage.

www.1522briarwood.realliving.com

Will the rate of Foreclosures ever drop? 

Of course the foreclosure rate will eventually slow down.  It has too.  But for now the rate of foreclosures in Kentucky were up 12% in the 3rd quarter of this year over the same time period in 2008.  This according to a recent report published by RealtyTrac Inc.

Just north of Kentucky in INdiana the foreclosure rate was actually down 15% over the previous tears quarter according to RealtyTrac Inc.  Indiana still has the 20th highest rate of foreclosure in the nation.

Do we need help from the government to stabalize this crisis?