Pat's Blog

Need-to-Know Real Estate Terms for Indianapolis Buyers & Sellers

Pat Haddad, ABR,CRS,e-PRO,GRI Indianapolis (The Haddad Team, Keller Williams ) — Fri, 04 Dec 2009 09:43:47 -0600

Savvy Indianapolis home buyers and sellers alike should know basic real estate lingo. If you´re preparing to buy Indianapolis real estate or have an Indianapolis home for sale, brushing up on the following terms can help you understand exactly what you´re getting into. Vocab quiz to follow!

Adjustable Rate Mortgage
A mortgage that allows the lender to periodically adjust the interest rate of the loan. The adjustments are generally based on changes in a specified index.

Agent
A professional who is trained and licensed to conduct Indianapolis real estate transactions.

Appraisal
A written estimate of the quality or value of your property based on sales of comparable homes in the area.

Closing costs
Expenses separate from the price of the property that buyers and sellers should expect to incur during a real estate transaction. These include a loan origination fee, title examination and insurance, survey, attorney's fee, and prepaid items such as escrow deposits for taxes and insurance.

Commission
The payment your real estate agent receives for his or her services. Commission is usually a pre-agreed upon percentage of the selling price of the property to be paid by the seller.

Comparables
Comparables are recently sold properties similar to the property you are selling in terms of size, location and features. Comparables are used to help the appraiser determine the value of your property.

Delinquency
The failure to make a mortgage payment when it is due. Loan payments more than 30 overdue are likely to be reported to a credit bureau.

Down payment
A cash payment made toward the purchase price of a property. The amount of down payment varies according to the type of loan used and how much cash a buyer is willing to invest in a property.

Earnest money
A deposit submitted with a purchase offer to show that your offer is serious. Earnest money is generally forfeited if you decide not to complete the purchase, and is applied to the purchase price if the sale is closed.

Escrow Account
An account set up through your lender to pay property taxes, homeowners insurance and other services. The amount you pay into escrow each month is beyond what would be required if you were only paying principal and interest on a loan.

Fixed-rate mortgage
A mortgage in which the interest rate does not change during the entire term of the loan.

Home Inspection
An examination of the construction, condition and internal systems of a home prior to purchase; a satisfactory home inspection may be a condition of purchase.

Homeowner's warranty
Insurance that covers certain home repairs, appliances and fixtures for a specified amount of time. The buyer can request this coverage as a condition of the sale.

Loan origination fee
A fee charged to the borrower by the lender to pay for the administrative costs of processing a mortgage loan. The fee is usually figured as a percentage of the loan amount.

Lock-in
An agreement in which the lender guarantees a specified interest rate for a certain amount of time at a certain cost.

Principal, Interest, Taxes and Insurance (PITI)
These four components comprise a monthly mortgage payment. Principal is the part of the monthly payment that reduces the remaining balance of the mortgage. Interest is the fee charged for borrowing money. Taxes and insurance refer to the amounts that are paid into an escrow account each month for property taxes and mortgage and hazard insurance. The combined sums make up your total monthly payment.

REALTOR®
A real estate professional who is a member of the National Association of REALTORS® and is bound to abide by the organization´s strict code of ethics.

Short Sale
A property sale in which the lender agrees to take a pay off that is less than what the seller owes on the mortgage. A short sale is generally initiated as a way to avoid foreclosure. More information on Indianapolis short sales.

Walk Through
The buyer´s final examination of the property being purchased; generally held at a specified time immediately before the closing.

For more information on Indianapolis real estate contact your Indianapolis real estate expert:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317.840.7555
Pat@HaddadTeam.com

Visit our Web site for Indianapolis homes for sale and Hamilton County real estate!

8 Reasons to Love Fishers Indiana!

Pat Haddad, ABR,CRS,e-PRO,GRI Indianapolis (The Haddad Team, Keller Williams ) — Mon, 30 Nov 2009 13:17:34 -0600

by Aimee Rush Holden, Haddad Team, Keller Williams Realty

The town of Fishers Indiana garnered yet another accolade last week when Business Weekly named it the best place in Indiana to raise a family. What is it that makes Fishers stand out? Here's a list I compiled, in no particular order:

Handel's Ice Cream--This Fishers tradition has been recognized by People, USA Today, Country Living and travelchannel.com as some of the best ice cream in the country. If you've ever stood in line on a warm summer night for a delectable (and heaping ) scoop of dolce de leche, you know why!

Schools, schools, schools--Elementary, middle, junior high and high school--they're all good. And because two of the three middle schools and junior highs feed into both senior highs, students form friendships that span school boundaries.

Pedestrian paths--If you're a walker, runner or just without your vehicle for the day, you'll be both delighted and frustrated by the pedestrian paths found along most roads in Fishers. What's good is that they connect the community. What's annoying is that they inconveniently end wherever private property intersects--and that's frequently along some roads. That means either darting across the street to the path on the other side or taking a chance against traffic.

Conner Prairie--Hot air balloon rides circa 1859, the opportunity to experience life as a runaway slave, Headless Horseman encounters and --best of all -- 4th of July fireworks!

Hamilton Town Center --Ok, so technically it's on Noblesville Indiana real estate, but just barely. The new outdoor shopping mall is part of the Saxony community, which includes business, retail and residential sections. Popular shops, an IMAX theater and several eateries are found within the cheery and beautifully-landscaped walkable center.

Allisonville Nursery--Even if you've never planted a shrub in your life, a visit to this upscale nursery and home decor shop will have you thinking you should. Gorgeous displays, a cozy atmosphere and a helpful staff make it a seasonal must-see!

Fishers Train Station--Where else can you catch a train to the state fair, take a holiday ride on the Polar Express or celebrate Mother's Day with brunch on board? It's a Fishers landmark, and the themed rides make it unique!

The name--Not only is Fishers a catchy name, it's also a refreshing departure from the plethora of "villes" (as in Nobles, Fort, Zions, Shelby and Crawfords) in the greater Indy area. It's also not a knock-off of a larger and more famous metropolis (Nashville, Atlanta) or an exotic foreign country (Peru, Brazil and Lebanon).

For information on Fishers Indiana real estate and Fishers IN homes for sale, contact:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317.840.7555
Pat@HaddadTeam.com

For more information on Indianapolis Indiana visit www.HaddadTeam.com!

No Shortage of Holiday Fun in Hamilton County Indiana!

Pat Haddad, ABR,CRS,e-PRO,GRI Indianapolis (The Haddad Team, Keller Williams ) — Tue, 24 Nov 2009 12:47:37 -0600

Tis the season for tree lighting ceremonies, caroling and visits with Santa! And if you live in Hamilton
County Indiana, the opportunities for such holiday festivities are everywhere. After all, it wasn't named a Money Magazine Top 10 Place to Raise a Family for nothing!

Carmel
The Arts and Design District's inaugural Holiday in the Arts District is celebrated the first three Saturdays of December from 1-5 p.m. with the official tree lighting ceremony set for Dec. 2 at 5 p.m. Each Saturday will feature carriage rides, strolling carolers and numerous chances to win gifts and services! Be sure to marvel at the holiday gingerbread displays and sign up for the Art of Gingerbread Scavenger Hunt, complete with prizes for those who find everything on their list!

Fishers
Performances by Fishers High School musical groups, refreshments and a visit from Santa are just a few of the special treats welcoming participants at the Fishers Holiday Tree Lighting ceremony Dec. 3 from 6:30 to 8:30 p.m. in front of the Fishers Town Hall.

Santa will be on hand at to pose for photo opportunities and take gift requests during Santa Saturday, the first three Saturdays of the month from 10-12:30 p.m. at 12620 East 116th St. in Fishers.

Noblesville
The Gift of Giving is the theme for the 30th annual Noblesville Christmas Parade set to wind through the streets of downtown Nov. 29 from 2-3 p.m.! The parade begins at 16th and Harrison, with Santa himself bringing up the rear. He'll be available afterward for gift requests at the courthouse square from 3-5:30 p.m.!

Be sure to return to the downtown square Dec. 4 for the Holidays in Downtown celebration, part of Noblesville's First Friday festivities. Your family will love the food, fun and great sales offered by downtown merchants. Santa will back, too, from 4:30 - 8:30 p.m.!

For more information on Hamilton County Indiana, Hamilton County real estate, or Hamilton County homes for sale, contact your Hamilton County REALTOR®:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317.840.7555
Pat@HaddadTeam.com

For Indianapolis homes for sale and Indianapolis real estate visit www.HaddadTeam.com.

Fort Harrison State Park Indianapolis is Perfect Venue For Family Fun!

Pat Haddad, ABR,CRS,e-PRO,GRI Indianapolis (The Haddad Team, Keller Williams ) — Thu, 19 Nov 2009 16:39:30 -0600

by Aimee Rush Holden, Haddad Team, Keller Williams Realty

The vision of Family Fun Planner, a perfect fall day in Indianapolis IN, Nostalgic Husband, Surly Teen, Eager Dog, and a $5 entry fee were all the ingredients necessary for a recent fun (for most of us anyway) family outing at Fort Harrison State Park.Fort Harrison State Park Indianapolis IN

The early afternoon outing started off a bit shaky, with Nostalgic Husband silently wondering what the odds were of him returning home in time for at least part of the Colts game, and Surly Teen loudly questioning her parents’ sanity—yet again. Eager Dog, it seemed, was the only willing participant.

Undeterred, I, Family Fun Planner, printed off a park map (no Blair Witch Project moments for this family), packed up some water bottles and off we went.

To say the day was spectacular is an understatement. Not a cloud in the sky and a perfect 71 degrees. The trees had already shed most of their leaves, and a gorgeous orange and yellow carpet covered the forest floor. Apparently I wasn’t the only Family Fun Planner who thought a day in the woods was a good idea. Hikers, walkers, cyclists and runners were everywhere!

We started off on a paved path that wound through a pretty grove of black walnut trees, but ended after about a quarter mile at the park’s edge. After turning around, we discovered the entrance to the Lawrence Creek Trail, an unpaved 2-mile trail of moderate difficulty. This was more like it!

“Why are we sprinting?” griped Surly Teen from the back of the pack. “I just want to enjoy myself and look at nature.” Hmmm. Strolling through life. Maybe that explains the 7 tardies already accrued this school year… Her interest piqued momentarily a few minutes later when an apparently stray dog bounded by us. Visions of rescuing him danced through her head, and then were dashed when his owner came around the corner. Crisis averted!

“If there was a sniper firing from the woods on your right and I yelled out, ‘6 o’clock, 300 yards,’ what would you do?” quizzed Nostalgic Husband (who coincidentally also happens to be Recently-Retired Army Guy). Umm, run? Hit the dirt? Run, it turns out, was the correct answer since the intent was for us scatter, then meet up again in a "safe" spot. More specifically, we learned that we should run toward the 6, if you picture the forest as a huge clock. We’re still unclear on how to determine the 300 yards and fuzzier still about how we would actually remember any of that while under fire, but even Surly Teen seemed interested in the stories of her dad’s glory days as an Infantry leader.

“Oh, this tree trunk, it smells divine! The fragrance emanating from this patch of grass is amazing! How I love the scent created when approximately 5,000 dogs pee in the exact same spot! Would it kill them to let me roll in it just a little bit?” Eager Dog was in heaven!

As for me, Family Fun Planner, I was excited by our Wildlife Watch contest, which yielded the back end of a white-tailed deer, a huge red-tailed hawk and the biggest squirrel I’ve ever seen. Oh, and butterflies everywhere!

All in all, I’ll tally the adventure in the success column. We even made it home for the Colts kickoff. We’ll definitely do it again, and maybe next time we’ll get to drag Cool College Kid along!

For more information on Fort Harrison State Park, visit www.in.gov/dnr.

For information on Indianapolis real estate, visit www.HaddadTeam.com or contact your Indianapolis REALTOR:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317-840-7555
Pat@HaddadTeam.com

Indianapolis home for sale on beautiful wooded lot!

Pat Haddad, ABR,CRS,e-PRO,GRI Indianapolis (The Haddad Team, Keller Williams ) — Mon, 16 Nov 2009 11:29:13 -0600

10752 Snowdrop Way
Indianapolis, IN
$101,500
3 bedroom, 2 bath

Fabulous home sits on wooded lot with a stream running through the backyard! Huge deck is perfect for entertaining! Large master with vaulted ceiling. Great room and dining room also vaulted with skylights. New tile flooring in great room/dining room and guest bath. Spacious kitchen with stainless appliances. Finished garage. New carpet, paint and tile floors. Neighborhood park. Don't miss this one!

For more information on Indianapolis homes for sale and Hamilton County real estate, contact:

Pat Haddad, ABR, CRS, e-Pro, GRI
Haddad Team, Keller Williams Realty
317-840-7555

Pat's Blog

Need-to-Know Real Estate Terms for Indianapolis Buyers & Sellers

8 Reasons to Love Fishers Indiana!

No Shortage of Holiday Fun in Hamilton County Indiana!

Fort Harrison State Park Indianapolis is Perfect Venue For Family Fun!

Indianapolis home for sale on beautiful wooded lot!

Carmel Indiana home for sale! Really as Lovely as the Pictures!

Noblesville Indiana home for sale! Fantastic Features at an Affordable Price!

Rare Find in Noblesville Indiana!

All the Extras! Superb Westfield Indiana ranch home!

Rare Find in Noblesville Indiana!

Volunteer session at Noblesville Indiana food pantry provides unexpected pleasure!

Truly as Nice as the Pictures! Carmel Indiana

It's holiday show ticket time in Indianapolis Indiana!

Indianapolis Indiana Zoo Stirs Up Halloween Fun With ZooBoo!

Cute As Can Be Noblesville Indiana Ranch Home!

Perfect Broad Ripple Bungalow!

Must See Ranch in Indianapolis Indiana

Excellent Opportunity in the Heart of Fishers Indiana!

Covington Estates--A Fantastic Fishers Indiana Neighborhood!

Short Sales Offer Benefits and Risks for Indianapolis Home Buyers

All the Features You're Looking For! Indianapolis Indiana

Beautiful Sunblest Farms Ranch! Fishers Indiana

Simply Stunning Indianapolis Real Estate

Cute As a Button Home in Noblesville Indiana!

Beautiful updated custom home in Noblesville IN!