Bob Murphy Online: Indiana

Are Contract for Deeds DEAD in INdiana and Kentucky?

The Federal government passed a law sometime in 2008 called The Safe Act. Among other things this Act gave the States two years to enact their own or adopt the new Federal Law.

Indiana adopted the Federal Law by Rule sometime in 2009.

Since that time it appears it has been unlawful to sell Real Estate on Contract for Deed unless you meet some very stringent requirements.

1) You can sell to a Family member via Contract for Deed.

2) You can sell your Primary Residence via Contract for Deed.

3) You must be a licensed Mortgage Broker in order to offer Mortgages in Indiana or Kentucky if you do NOT meet the first two requirements listed above.

This new Rule in Indiana will make it therefore unlawful for a Builder to sell homes built via Contarct for Deed as many Builders have done in the past to help people who could not otherwise purchase a home.

This Rule will affect Investors who purchase, the renovate homes to place back into the marketplace.

What do you think about this rule?

What do you know about it?

If you are working with a Contract for Deed it might be a good idea to seek the advise of an Attorney.

Have you re-filed your Indiana Property Tax Exemptions yet this year.  If you haven't you need to.  Indiana is updating there property tax system and as part of the update, All property eligible for property tax exemptions must re-file any current exemptions.

As a property owner you should receive a Pink Notice with your tax bill this year explaining the need to re-file.  However most people don't pay close enough attention to these kind of notices.

If you have any questions about your Indiana Property Tax Exemptions please give me a call.

Bob Murphy

Broker Associate

RE/MAX FIRST

502-773-2564

BobMurphy@ReMax.net

We did it.  We made the move.

We have moved our Southern Indiana office.

Real Living Realty Services has moved it's Jeffersonville office to New Albany Indiana.  The move, just a short 7 miles from it's previous location will allow Real Living Realty Services to better serve it's clients in a location more convenient to the market Real Living Realty Servicves covers.

Real Living Realty Services covers the Louisville Kentucky and Southern Indiana market from the New Albany office.

The new address is:

Real Living Realty services

3039 Charlestown Crossing

New Albany,  IN  47150

812-282-7600 office

812-282-7600 Fax

New Listing in Jeffersonville Indiana

This home has been updated and remodeled inside and out in the last two years.  Thermopane replacement windows, new Vintl Siding.  All new flooring throughout and much much more.  The basement is mostly finished.  The basement Family Room measures 24 feet x 12.5 feet and has a wood burning stove.  Priced to sell at $104,900.00.

If you would like more information on this home please click on this link:

http://1023CapitolHills.RealLiving.com

If you would like to see more of my listings please visit: http://www.BobMurphyOnline.com

New Listing in New Albany Indiana

This Brand New listing is a great but at $104,900.00.

3 Bedrooms and 2 Baths and more then 1700 total finished square feet of living space.  This home has been completely updated and remodeled in the last year.  Living Room measures aproximately 20 feet x 12 feet.  The Formal Dining Room measures 12 feet x 12 feet.

If you would like further information about this home please visit this homes own website at http://www.2206Reno.RealLiving.com

If you would like to see all my listings follow this link: http://www.BobMurphyOnline.com

Great Home in Clarksville Indiana just Reduced.

This home has just been reduced to $ 124,900.00.

It has all new Hardwood flooring upstairs and a finished basement downstairs.  The basement even has a Kitchenette.  This is a unique design in the Clarksville Indiana area.  The home also has a very nice fenced Backyard and patios great for the family and outdoor activities.

If you would like to visit this homes webpage click this link:

www.1522briarwood.RealLiving.com

If you would like to see all my listings just click this link:

www.BobMurphyOnline.com

Great Home Just Reduced.

What a nice home with a finished basement and a large lot.

Priced at just $119,750.00 this home should not last long.

If you would like more details about this home click on this link:

www.2501larkwood.RealLiving.com

If you would like to see all my listings you can by visiting this link:

http://www.BobMurphyOnline.com

Sex Offenders Website.

If you would like to check an address in Floyd County Indiana for published Sex Offenders work places and home addresses here is a link to a website that will allow you to do so.

http://www.insor.org/insasoweb/initAdvancedSearchForm.do

Nice Home in Sellersburg Indiana

This lovely home qualifies for Indiana Rural Housing financing.  That means 100% financing with no PMI.

This is a 1400 + square foot home with a Full Unfinished basement. 

The Family Room has a custom built Fireplace and lots of room too.

The 1 Acre lot lot includes this huge fenced backyard.  A great place for the family to play or for your pets to roam.

If you would like more information about this home or if you would like to know more about 100% Rural Housing financing please give me a call.  You can reach me at 502-773-2564 or you can contact me via email at Bob.Murphy@RealLiving.com

Visit my other listings at http://www.RealLiving.com/Bob.Murphy

The New Year is almost here.  Will you Buy a Home in 2010?

Home prices are down in almost every market right now.  Interest rates are still at historic lows.  The Home Buyer Tax credit applies to just about everyone now.  Do you really need another reason to Buy a New Home?  By the way that doesn't mean literally a "New" home.  Just a home that is new to you.  There are many existing homes on the market right now that are priced right.  Even New Construction homes are priced down next to just a couple years ago.

Well if you need just one more reason to buy now.....here it is.

Interest rates are expected to begin climbing this year and could possibly be a full point higher then they are now by the end of the year.

Home prices are already beginning to climb in many markets and will probably finish the year higher in 2010 then they have been for the past year or so.

The Home Buyer Tax credit is set to expire for homes not under contract by the end of April 2010 and another extension is probably not going to happen.

This is the "Perfect Storm" for almost any home buyer right now.

If you are a current home owner and you have lived in your home for 5 consecutive years of the last 8 years, you are eligible for a $6500.00 tax credit if you purchase a new primary residence.  Whether you sell your current home or not.

If you are a First Time Home Buyer you are eligible for an $8000.00 Tax Credit if you have your new home under contract by April 30th of 2010 and close by June 30th of 2010.

If you would like more info about the advantages of owning your own home you can reach me at 502-773-2564 or you can email me at BobMurphy@Insightbb.com

You can also visit my website at www.RealLiving.com/Bob.Murphy