We are proud to announce and be included in the top 50 marketing technology companies in Central Indiana! DoorFly is a unique inclusion on the list because it is a true marketing vehicle for real estate agents to find new business and promote their services to individuals buying and selling real estate.

We know from personal experience that home buying and selling real estate is a tough process. It is important to have a good real estate agent, and DoorFly allows you to do that while comparing agent qualifications, services, fees, and rebate offers.

DoorFly.com helps real estate agents market themselves in our free agent directory and make offers to win business with local home buyers and sellers.

Create your DoorFly real estate agent profile today and thanks Doug Karr for including us on the list!
 

#2  Increase Your Credit Score to Decrease Your Interest Rate

A credit score is a lenders snapshot of your credit history.  By looking at this one number a lender can very quickly determine how much of a risk they are facing when they lend money to an individual.  People with high credit scores are rewarded with low interest rate on their loans and low credit scores means paying higher interest rates.  The difference between a low interest rate and a high interest rate is hundreds of dollars every month on a large loan…such as a mortgage.

Since your credit score is based off of your credit history, you can bring up your score by following these tips:

> Tip # 1 Bills – Make all payments for your bills ON TIME. Late payments (payments that are 30 days late or more) have a negative effect on your credit rating.

> Tip # 2 Credit Cards - If your credit is in need of repair don’t cut up your credit cards.  If your credit is bad, you may not be able to gain additional credit cards later.  A great way to re-establish your credit is to get a secured credit card. You will have to keep a designated amount of money in an account that will be sufficient to cover your charges, and make payments on time.

> Tip # 3 Limits - Keep the charges on your credit cards way below their limits.  Lenders look at how close your spending is to your account limits.  If you keep your credit cards close to the maximum limit it shows the lender that you are over-leveraged.  It is best to keep your charges on your credit cards below 33% of their limit.

> Tip # 4 Bankruptcy and Tax Liens - Avoid bankruptcies, collections, and tax liens.  These can last for about 7 to 10 years on your credit report.

> Tip # 5 Check it! - Get a free yearly copy of your credit report to keep tabs on your progress and to catch any errors.  You can get a copy of your credit report free at www.annualcreditreport.com

Need a real estate agent to help you throughout the home buying process? By using DoorFly.com, you can easily locate a qualified real estate agent and negotiate real estate agent fees.  DoorFly provides a platform where real agents compete against other agents to win new business. Learn more about the benefits.

Buying a home can be a daunting task, especially when considering this is the largest purchase most individuals will ever make.  Therefore, reducing the financial burden of a purchase of this magnitude is something every homeowner welcomes.  This brief report will cover 5 ways to save you money on the purchase of your next home before, during, and after the closing process.

#1.  Be a Strong Buyer – Get Pre-Approved!!

When submitting an offer on a home it is important to make it stand out from the competition.  By getting pre-approved for a loan prior to submitting any offers you will instantly make yourself a stronger buyer in the real estate market.  Once you are pre-approved you will have a letter from your lender stating how much money you are qualified to borrow.  Being pre-approved is not the same as being pre-qualified, which merely states an amount that you might be able to borrow. 

It is important to find out the highest amount that you are pre-approved to borrow, and then look at homes only in your price range.  There’s no sense in falling in love with a home that doesn’t agree with your finances.  When you are ready to submit an offer, include a copy of your pre-approval letter.  Sellers will favor offers that have a firm financial backing rather than offers with none. 

If you plan to make an offer that is below your pre approved amount, request a second letter from your lender in the amount of your offer.  Your lender should have no problems doing this since you are already approved for a larger amount.  When a seller sees your offer and a pre approval letter for the same amount, the seller is less likely to ask for a higher price.  In the seller’s eyes you are making your highest offer.  This tip alone can save you thousands on the purchase of your next home.

Use DoorFly.com to find a qualified real estate agent and to save on real estate agent fees. DoorFly provides a comfortable platform for home buyers and sellers to negotiate real estate agent fees. To get started, create an account and start watching as agents bid rebates to win your business.

Wieland says he’s still offering 5 percent to 25 percent discounts on one more home in each of the 56 neighborhoods. And he plans to continue promoting the housing industry's role in economic recovery on his blog at www.GetHousingMoving.com.

Read the full story >>
Original announcement in March >> 
Builders teaming up to maximize purchasing power >>

I hope that Mr. Weiland is correct that home buying and the real estate industry are the key to economic recovery. At DoorFly, we would like to help too and encourage home buying and the use of our system to find a realtor and earn a home buyer rebate.

Home buying can be a great opportunity to reduce your ecological footprint.

Looking beyond the décor, consider the location, size and style of your house and take advantage of government grants for home energy audits for a resale home.

You may wish to consider a new EnergyStar home.

Find a Green Realtor
Find a Realtor with good knowledge of environmental issues and programs and services available to assist homeowners to reduce energy. You may review real estate agent profiles at DoorFly.com and use private message boards to ask them about their 'green' knowledge.

Conduct an energy audit
The Home Energy audit is such a new concept that most resale homes will not be energy rated. & Again, if you are considering a new home purchase, and if it’s available, consider an Energy Star certified home.

Location is Imperative
Consider how close the house is to shops, school, Church, entertainment, workplace and other amenities that you often utilize. Think in relation to all members of the household. Choose your location very carefully.

Size Matters
Although large houses are still popular, the trend will be for smaller homes and more efficient floor plans with no space wasted. The smaller the home, the less energy needed for heat and light and the less you money spent on utilities.

Expect to Upgrade
Once you have found the home you want, go ahead with a professional energy audit and expect to upgrade and implement some of the suggested changes. Re-decorate with low-VOC paint, upgrade the air system, remove old carpet and replace with wood floor. Renovate according to your ecological principles. The Canadian government will pay 50% (up to $150.00 max) towards the audit and provide grants towards certain upgrades. Visit the Home Energy Savings website http://www.homeenergyontario.ca
Remember: Anything upgraded will add value to your investment and create a greener, healthier home.

Research your renewable-energy potential
Another new trend - depending on where you live there is an exciting possibility of generating some or all of your own electricity with rooftop solar panels or a backyard wind-turbine. The costs of solar, wind, and geo-thermal power are falling and becoming easier to find. This may not be attainable immediately in your area so keep an ear to the ground for news to come.

The Yard
Just as smaller houses are becoming popular, so too are smaller yards. Less lawn means less water. A small space for a garden is ideal to grow some of your own fruits, vegetables and herbs. Some vegetables may be grown in containers- so yards do not need to be acres to produce enough for an average household. Also, consider a space for compost pile or bin, if you don’t need to worry about wildlife. & look for shady trees to help conserve energy in hot weather.

Many new terms will be heard in conversation with your real estate agent, mortgage broker, friends, and others during the home buying process. See below some of the most commonly used terms to understand when buying real estate. (Source)

• Buyer beware (also known as caveat emptor): The buyer alone is responsible for assessing the quality of a purchase before buying.
   
• In its present condition: the new, less frightening way to say “as is.” Basically a "take it or leave it" home sale. 
   
• Earnest money: a home buying deposit given to the seller to show that a prospective buyer is serious about buying the house. This money is forfeited if the buyer does not follow through with the purchase and sale agreement.
   
• Pre-approval: a lender has looked closely at both your credit report and your income and determined that you qualify for a loan. The lender will tell you the maximum amount of loan it will make, which loan programs you qualify for, and will discuss the interest rates it will offer for different types of loans.
   
• Pre-qualification: loan pre-qualification does not typically include an analysis of your credit report or an in-depth look at your true ability to buy a home. The term means that someone has taken a general look at your income and expenses and plugged them in to a debt-to-income ratio formula. It does not guarantee a loan.
   
• Contingency: a condition that must be satisfied before a contract is legally binding (e.g. the sale is contigent upon home buyers sale of their current home within 1 month).

Are you home buying for the first time? There is so many things to learn during this process and we know that it can be overwhelming. HGTV posted really good home buying advice from Sandra Rinomato that we wanted to share -- especially useful advice for first time home buyers. (source)

• Don't forget to set aside money for closing costs when budgeting out what you can afford. It's typically 1-1/2 to 2 percent of the purchase price. That goes toward the land transfer tax and pays a lawyer.
   
• For resale, curb appeal goes a long way. But make sure you don't over improve for the area. Some houses have a cap on them, which means it is only gonna be worth a certain amount no matter what the homeowners do to make improvements.
   
• Brand-new condos tend to be smaller, sometimes no larger than one bedroom, while older units typically have more square footage.
   
• When figuring out the price of a property, sometimes it makes more sense to look at the price of a house in terms of monthly payments instead of focusing on that big number.
   
• Real estate never sleeps. If you're trying to buy a hot property, you have to move quickly, or you could possibly lose it.
   
• Sometimes people think that by starting really low they'll end up with a better price on a house, but actually it usually works the opposite way.
   
• You don't necessarily want to buy in a building that has a high percentage of tenants because they don't take care of the property the way they would if they owned.
   
• If you're going to live in a city, you often have to sacrifice space.
   
• Before you start renovating a condo, live there for a year to make sure you're doing the right thing.
   
• Properties in good shape are rare, and they don't stay on the market for long.
   
• You can make changes to the inside of a condominium, with the proper condo board approval, but never to the exterior.
   
• You can't negotiate maintenance fees with a condo, and those fees tend to go up periodically.
   
• When you buy new, you have to put down 10 percent within six months or 15 percent within nine months. Also, until the place is registered, you can't get title. Until you get title, you can't place your mortgage, so during that time you're paying what's known as a phantom mortgage or an interim occupancy fee that goes toward nothing — it's like rent.
   
• It's better to walk away if you're not comfortable with the situation.
   
• When making an offer, you want to go as low as possible without insulting the sellers.
   
• It's the market that determines the value of a house.
   
• A simple renovation after the sale can boost the value of the investment by thousands.
   
• A middle-unit townhome is often less expensive than an end unit.
   
• Try not to fixate on the list price of a house, but rather the fair market value (an estimate of what a buyer would pay a seller for any piece of property).
   
• When it comes to investing, the best place to invest is in an up-and-coming area.
   
• It is especially important to have a home inspection if you are looking to buy an aging or older house. They look past the visible surface to the infrastructure, inspecting plumbing and looking for faulty fixtures and waste lines. They check electrical systems to make sure they aren't overloaded or a safety hazard. They also look at possible structural problems like the foundation, walls and floor joists.
   
• The old adage holds true. If it ain't broke, don't fix it.
   
• It's great to have your financing in place before you look because houses are bought and sold overnight. You could lose your dream property waiting to secure the financing.
   
• When a house is empty, buyers can see the actual size of each room and can better visualize their things in them.
   
• When a renovated house is priced low, it is a good indication that the owners are looking for a bidding war — they want to get as much money as possible out of the sale.
   
• When you're house shopping, you can't pull a number out of a hat. Find out what other homes in the area have sold for, how long ago the sale was and what amenities they have.
   
• What you want to pay for a house has nothing to do with the fair market value (an estimate of what a buyer would pay a seller for any piece of property). Also, what you can or cannot afford has nothing to do with the value of a house.
   
• The key to success when buying a home is to trust the experts.
   
• Before you begin to house shop, you need to have an idea of what kind of neighborhood you want to live in and the style of house you want.
   
• The rule of thumb is that you should be able to afford a mortgage three times your income.
   
• Lenders subtract any debt payment from your income, so if you have a big debt, you have a lot less income — and a lot less house.
   
• When you are looking at a house, you have to have a wish list, but you have to understand that no house is going to be perfect.
   
• Don't judge a book by its cover. Same goes for a house. Go inside and look around before making a decision.
   
• When you buy a property, you should always have a home inspector come through. You never know what they're going to uncover, so don't crack the champagne just yet. If the home inspector should find something, then you can use it to your advantage to renegotiate the deal. Or you might have to walk away.
   
• You have to see past the junk and see the potential. When you buy a house, it's not just a place to live in, it's an investment. Keep in mind your dollars down the road.
   
• Home staging is big business. It can add thousands of dollars to the selling price. An unstaged house that has not been properly prepared for sale will sell for much less than the asking price.
   
• Feelings often take over the first time you go through a house, but the second visit allows time to do a thorough inspection led by your head, not your heart.
   
• The three most important matters when it comes to negotiation are information, preparation and realism.
   
• Reality often outweighs fantasy when it comes to buying a home.

If you are a First Time Home Buyer, You are Eligible for an $8,000 Tax Credit!

As part of the recent US government stimulus, the First Time Home Buyer Tax Credit has become a cash payment that does not have to be repaid.  That’s right…no repayment!  This is a pretty exciting development for someone considering a home purchase in 2009 (it’s only in effect through December 1, 2009).  Now, this program is only for first time home buyers (or those who’ve not owned a home in the past 3 years).   Interestingly, you can actually get access to this credit BEFORE you file your 2009 taxes, so you can use the money to help you buy the home now!  To ensure you have the information you need, I’ve compiled the top 5 most frequently asked questions about the program below.

1. Who is eligible to claim the tax credit?
   If you are a first-time home buyer purchasing a new home or a resale—you are eligible for the tax credit.  The purchase must take place on or after January 1, 2009 and before December 1, 2009 to qualify for the tax credit. As it applies to the tax credit, the purchase date is the date when the home closes and the title to the property transfers to the home owner.
    
2. What is the definition of a first-time home buyer?
   The tax credit law defines a "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. If you are married, both spouses cannot have owned a home.
   
   For example, if you didn’t own a home but your spouse did, you do not qualify.  For unmarried purchasers, the credit amount can be given to any buyer who qualifies as a first-time buyer, for instance, if a parent jointly purchases a home with a son or daughter. If you owned a vacation home or rental property not used as a principal residence you are not disqualified as a first-time home buyer.
    
3. How is the amount of the tax credit determined?
   The tax credit is 10 percent of the home’s purchase price, however, there is a maximum $8,000 credit.
    
4. Can you give me an example of how the partial tax credit is determined?
   There is a $20,000 difference between those who are eligible for a full tax credit and those where the credit is reduced to zero.  If you take the amount you are over the limit by and divide it by the 20,000, this will give you the percentage that you are over the limit by.  Subtract that number from 100% and then multiply it times the $8,000.  That will give you your tax credit amount.
   
   For example: A married couple has a modified adjusted gross income of $165,000. Their income exceeds $150,000 by $15,000. Dividing $15,000 by $20,000 yields 0.75.  This means they are over the limit by 75% and so are eligible for a tax credit of 25%.  Multiplying $8,000 by 0.25 shows that the buyer is eligible for a partial tax credit of $2,000.
   
   Please remember that this is an example. You should always consult your tax advisor.
    
5. Is there any way for a home buyer to get the money before they file their 2009 tax return?
   Yes. If you believe you will qualify for the tax credit you can reduce your withholding taxes on your paycheck by adjusting your withholding amount on your W-4 via your employer or through your quarterly estimated tax payment.  You can put this saved money aside to use as a down payment.
   
   IRS Publication 919 contains rules and guidelines for income tax withholding. Please note that if the qualified purchase does NOT occur, then you will be liable for repayment to the IRS of income tax and possible interest charges and penalties.  Consult your account prior to doing this.

There are a lot more questions and more information out there about exactly how this program works and about how you can use this program for your specific situation. Read the full FTHB Tax Credit 20 questions and answers list. And remember to consult a qualified home mortgage expert for counsel on your specific home buying situation!

Credit: Cameron Moss
Flagship Mortgage Corporation
“Expert Real Estate Finance”
Batesville, Indiana Branch Office
cmoss@flagshipmortgage.net
www.indianaloantips.com

Spring is in the air! Daylight Savings Time begins on Sunday, so remember to set your clocks 1 hour ahead.

If you are getting ready to sell your home this Spring, read our home selling advice below.

Make your home stand out.
There are a lot of foreclosures on the market, but these homes tend to be in a state of dis-repair. You want to market your home to those that are looking to purchase a home that is ready to move into. See more specific suggestions below.

Remember to do the little things to make your house stand out.

Here are a few examples:

1. Wash the windows inside and out. Clean all the mirrors to shine.
2. Set out fresh flowers with a fresh and inviting smell.
3. Polish hard wood floors to shine and vacuum right before any showing.
4. Offer a shoe mat at the entrance and even an umbrella stand. This will encourage prospective buyers and agents to remove their shoes and help keep your floors looking great.
5. Fluff pillows and put out fresh towels in bright colors. Even consider replacing these items because they are inexpensive and can add interest to a room.

First impressions count.
Landscaping is always a good idea. With spring on the way, it should be easy to make your home look amazing on the outside.

1. Mow your yard with diagonal rows to make your yard appear larger.
2. Edge the lawn along driveways and sidewalks. This will show the buyer that you care and pay attention to detail.
3. Transplant tulips or other spring flowers near the walkway or anywhere in the front. Yellow stimulates happiness and everyone is anxious to see flowers in the Spring after a long Winter. Consider container plants also in groups of three to five and place near the entrance.

Paint your walls white.
White walls let the potential home buyers imagine their own style in the home instead of yours. It also makes every room feel bigger. Avoid dark colors which can discourage a home buyer if they do not like the color and makes the room look smaller.

If you have an open house, purchase bright colored helium balloons for in front of your home. This will help you home stand out and no one will miss it.

We also recommend you find a real estate agent using DoorFly.com and negotiate real estate agent commission. DoorFly recently opened home seller listings and allows you to compare agent offers that will help with selling real estate.
 

Buying real estate in 2009 presents challenges. Financing is difficult and who knows what will happen to your job in this economy.

If you have the money and can hang on to a home for five years or more, there's a huge inventory of homes for sale priced at levels not seen since 2004.

Of course, not everybody agrees that homes selling well below list price can be considered discounted. Maybe they were just overpriced, says Barry Nystedt, the president of the National Association of Exclusive Buyer Agents.

Redfin offers the following home buying advice to increase real estate affordability:

1) Find seller listings on the market for 90 days or more
Smart home buyers have long known that if a home doesn't sell in three months, the listing becomes stale. Redfin says the more deeply discounted homes were 83% more likely to have been listed 90 days or more.

Interestingly, the discounts didn't increase after 90 days, so it's not crucial to wait longer to make a bid.

2) Bid low on a fixer-upper
Dave Daggett's eyes lit up when he first saw his lakefront house. The yard was overgrown, plasterboard was missing in places, unfinished wiring dangled here and there, and the roof was mossy. It was ripe for a discount.

Redfin found that bargain sales were 73% more likely to have used "fixer-upper" or similar terms in listings and ads: "People who sell homes before fixing them up are usually more concerned about an easy sale than the best price."

3) Bid aggressively on a discounted property
Many discounted homes have sustained not just one or two but several price reductions.

"Heavily discounted homes are 28% more likely to have already been price-reduced," the Redfin study says, adding that with 56% of the biggest bargains, prices had been dropped at least twice before buyers made a bid.

"Once a seller lowers his asking price, he sends a signal to buyers that he is willing to accept further discounts in negotiations," Redfin speculates.

"Probably the area where we've seen the biggest change is in negotiating with builders," Kelman says. "If they can't liquidate and pay creditors, they're in a crunch."

In order to keep his official prices up, a builder may make expensive concessions by throwing in luxury amenities or reducing a buyer's mortgage terms or down payment.

4) Look for desperate flippers
Redfin found a small (9%) chance that homes purchased within five years would be discounted by more than 10% from the listing price. It could be that some people who are desperate to exit an unmanageable loan are willing to take a bit of a bath.

5) Don't expect much bargaining from banks
Banks don't negotiate as freely as you might imagine when selling foreclosed homes. They also keep a tight rein on prices in short sales, when a seller owes more on the mortgage than the house is selling for.

Don't expect much price flexibility here, Redfin points out. (Banks also tend to move very slowly in such sales.) Redfin found that 9% of the bargains it studied were short sales or houses owned by banks.

Read the full article >

Buying real estate is one thing, but what about landscaping, gardens, and flowers? I remember our first Spring after home buying. We had no idea how to landscape or select the best flowers. A great event is coming up in Indiana that will give you ideas and introduce you to many local companies. It's the Indiana Flower and Patio Show.

The Indiana Flower & Patio Show

The 51st annual Indiana Flower & Patio Show has been redesigned! We’ve listened to show goers suggestions and have pruned our show to ensure only the ideal exhibitors are here to help fulfill your every finer outdoor living need. Getting back to what has made our show great for over 50 years – Gardens. Landscapes. Experts. Ideas.

The show features over 30 extravagant gardens/landscapes crafted by many of Indiana’s premiere landscapers, hundreds of finer outdoor living experts, and thousands of ideas to take home! You can learn more about the show navigating through our site.

When: March 14 - 22, 2009
Monday - Saturday: 10 a.m. - 8 p.m.
Sunday: 10 a.m. - 6 p.m.

Where: Indiana State Fairgrounds, West Pavilion
1202 E. 38th Street
Indianapolis, Indiana 46205

Cost: General Admission: $12
Children 12 and Under: Free

• Get a Printable Coupon to the home show
• Purchase Tickets online

Some of our favorite exhibits are:

• Brick Paving of Indianapolis, Garden #02 - Check our their Monopoly themed Show Garden.
• Gardens of Growth, Garden #08

Today, most consumers are afraid to make big financial decisions like buying a home during these tough economic times. However, if you can step away from the common path, you most likely will find that buying real estate in 2009 could be well worth it.  This is because this years real estate climate has never looked so well-aligned for the home buyer.

Here are 6 reasons why it makes sense to buy a home in 2009. (courtesy of MSN Real Estate and MarketWatch)

1. Affordability is better than ever.
This statement has never been more true. It's a buyers market. You can get a lot more home today for much less.

2. You have a large inventory to choose from.
By being a buyers market, it also means their are a lot more homes on the market. More inventory = less demand = lower home prices.

3. Builders are offering big discounts.
Builders have reduced their fees and costs to adjust for today's market. This is a great opportunity for those home buyers looking to build or design their home.

4. Mortgage rates are historically low.
Now is the perfect time to get pre-approved and locked in on a low interest rate. Even though it may be tougher to obtain credit, if you can get the financing, chances are in your favor of obtaining a low mortgage rate.

5. You can get a federal tax credit.
The federal tax credit of $7,500 was recently increased to $8,000 by the Obama administration. This means if you haven't owned a home in the past three years, the government will give you $8,000 just for buying a home. This tax credit is good through November of this year. The only stipulation is that you have to keep the home for three years.

Source: 5 reasons to buy a home this year - By Marketwatch

And last but not least...

6. Get a generous home buyer rebate by signing up on DoorFly.com
If you decide you're going to buy a home this year, than it makes sense to find a real estate agent to help guide you through the process. DoorFly.com provides a platform where real estate agents compete against other agents to win your business. They do this by offering a rebate back to you at closing for picking them. All you have to do is sign up (which is FREE) and watch as agents pitch to you their qualifications and an incentive rebate.

Good luck and happy home buying!
 

Why isn't this home selling?

see more pwn and owned pictures

To attract home buyers, our home selling advice is to choose a non-offensive agency name. Good luck!

Realtors: Find home buyers and sellers in your area at DoorFly.com. Search by location for active clients and fill out your real estate agent profile to promote your services. There is no obligation to sign up, and we'll send you notices when someone is home buying in your area.

Selling real estate can be difficult, and we're here to help you gain new leads.

How to find a real estate agent and sell your home (source)
Interview agents and talk to at least three neighborhood specialists. Ask each listing agent to give you a marketing plan that explains what they will do to market your home. In addition, ask the agents to prepare a comparative market analysis for you and ask each for advice about:

• Preparing Your Home for Sale
• Repairs Before Selling
• Home Staging
• Home Pricing
• Net Profits from Selling

Protect yourself when buying real estate from these common pitfalls.

The home buying process can be full emotions. Ultimately, these stressful emotions can push you in the direction of making one of the 'Deadly Mistakes' which are common among home buyers.

#1. Making an offer on a home without being prequalified.
Prequalification will make your life easier - so take the time to speak with a lender. Their specific questions in regard to income, dept, etc., will help you determine the price range you can afford. It is an important step on the path to home ownership. Check this calculator as a starting point of what you can afford.

#2. Not having a home inspection.
Trying to save money today can end up costing you tomorrow. A qualified home inspector will detect issues that many buyers can overlook. See this home inspection checklist.

#3. Limiting your search to open houses, ads or the Internet.
Many homes listed in magazines or on the Internet have already been sold. Your best course of action is to contact a Realtor®. They have up-to-date information that is unavailable to the general public and are the best resource to help you find the home you want.

#4. Choosing a Real Estate Agent who is not committed to forming a strong business relationship with you.
Making a connection with the right Realtor® is crucial. Find a real estate agent who is dedicated to serving your needs - before, during and after the sale.

#5. Thinking there is only one perfect house out there.
Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities. Ask your Realtor® for a comparative market analysis. This compares similar homes that have recently sold, or are still for sale.

#6. Not considering long-term needs.
It is important to think ahead. Will the home suit your needs 3-5 years from now?

#7. Not examining insurance issues.
Purchase adequate home owner's insurance. Advice from an insurance agent can provide you with answers to any concerns you may have.

#8. Not buying a home protection plan.
This is essentially a mini insurance policy that usually lasts one year from the close of escrow. It usually covers basic repairs you may encounter and can be purchased for a nominal fee. Talk to your real estate agent to help you find the protection plan you need.

#9. Not knowing total costs involved.
Early in the buying process, ask your Realtor® or lender for an estimate of closing costs. Title company and attorney fees should be considered. Pre-pay responsibilities such as Homeowner Association fees and insurance must also be taken into account. Remember to examine your settlement statement prior to closing.

#10. Not following through on due diligence.
Buyers should make a list of any concerns they have relating to issues such as: crime rates, schools, power lines, neighbors, environmental conditions, etc. Ask the important questions before you make an offer on a home. Be diligent so that you can have confidence in your purchase.

Copyright Buffini & Company
 
Find a real estate agent, compare qualifications, and negotiate home buyer rebates at DoorFly.com.
 

Do you want to be regularly stuck in a "traffic jam"? Probably not. If you are home buying in a new location, congestion is an important factor to consider.

Los Angeles California is the most congested city in America according to Yahoo Real Estate and Kirkland, Wash.-based research firm Inrix, which provides real-time, historical and predictive traffic information to television stations and other groups across the U.S.

Consider this story from an average commuter.

For two years, 26-year-old marketing associate, Stefani Cole, commuted from her home in Long Beach, Calif., to her job at a radio station in Burbank. The 40-mile drive takes about 45 minutes without traffic but averages between two to two-and-a-half hours during rush hour.

"I would try to get to the office early and work later so that I would miss the major traffic," says Cole. "But if there was a wreck or something, forget it. It was going to be bad no matter what."

In September 2008, Cole decided enough was enough. She packed her bags and moved to Burbank. She now lives just eight miles from work. Her commute, however, is still 25 to 30 minutes. That shouldn't have come as much surprise, since the roads of Los Angeles are the most congested in the country.

The top five congested cites are:

1. L.A.
2. New York
3. Chicago
4. Dallas
5. Washington, D.C.

• See pictures of America's most congested cities.
• See traffic reports for cities you are considering.
• Most cities have a Transportation Authority that will outline various transportation option. For Central Indiana, see the Central Indiana Regional Transportation Authority.

Crashing home prices have led to the most affordable housing market in at least five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday.

Indianapolis is at the top of the real estate affordability list!
Topping the list of most affordable U.S. metro areas, which ranks areas with more than 500,000 in population, was Indianapolis. This is the city's 14th consecutive quarter in first place; it boasts a full 93% of all homes sold being affordable to median family households.

Affordability in Indianapolis, the 33rd largest metro area in the United States with 1.7 million people, was buoyed by fairly high median income of $65,100 and rock-bottom home prices. The median price for a home sold during the quarter was just $103,000, according to the National Association of Home Builders report.

Those prices, combined with reasonable mortgage interest rates, make home-buying in the area a snap. A buyer of a median-priced home putting 20% down would pay only about $450 a month in mortgage expenses.

But even though house buying costs are reasonable, the city's weakening economy meant it did not escape the foreclosure plague. More than 20,000 homes, representing nearly 3% of the city, received a foreclosure filing of some kind in 2008, the 26th highest rate in the nation.

Other most affordable home buying towns were: Warren, Mich. (89.6%); Youngstown, Ohio (89.4%); and Detroit (89.3%).

New York is at the bottom of the real estate affordability list. 
The least affordable was the New York City metro area, where only 13.9% of homes sold met the criteria.

In the New York City metro area, home prices took a steep dive during the quarter, to $455,000 from $500,000 three months earlier. But even that was not enough to dislodge the city from its rank as the most unaffordable metro area in the land.

Median income in the area is $63,000 less than in Indianapolis and, with home prices more than four times higher than in the Midwestern metropolis, only 13.9% of the homes sold there were affordable to median income families.

That was still a major improvement from two years ago, when only 5.1% of homes sold during the fourth quarter of 2006 were affordable. And New York households have been barely brushed by foreclosure so far with only 0.71% receiving some kind of foreclosure filing during 2008.

Other least-affordable metro areas included San Francisco at 20.6%, where affordability improved greatly from 5.7% during the second quarter of 2007; suburban Long Island, where 25.5% were affordable; and Los Angeles, where 26.9% were.

Source: Yahoo! Finance

With affordability at a high-point, buying real estate is appealing. DoorFly can also help you find a real estate agent and earn a home buyer rebate. Real estate agents offer you money back from their commission as an incentive for your business. Check out DoorFly.com today.

If you are considering buying real estate for the first time, the government is hoping to provide you an incentive to buy. For those that qualify, an income tax credit up to $8,000 is available. 

The President is expected to sign into law later this week theAmerican Recovery and Reinvestment Act (ARRA). The purpose of the new legislation is to stimulate the overall economy. One of the provisions is directed at stimulating the real estate market by encouraging the purchase of houses. For first-time home buyers, an income tax credit equal to 10% of the cost of the home up to $8,000 is available. This new legislation actually extends and revises a similar credit that was available to first-time homebuyers in 2008.

The credit is not available to everyone. You must meet the following criteria to realize all or any portion of the credit.

Criteria for Eligibility

1. A first-time homebuyer includes any purchaser who has not owned a house for at least three years. The first-time home buyer credit is available to those who have never owned their primary residence as well as to anyone who has not owned a residence for at least three years prior to the purchase. For a married couple, both spouses must qualify as first-time homebuyers to receive the credit.
    
2. House must be used as principal residence. You can not receive the credit for the purchase of a second home for yourself or a primary residence for your parent or your child. You must be the owner and you must use the house as the principal residence for you and your family. Any single family residence will qualify, including condominiums, townhouses, and co-ops.
    
3. House must be purchased during the first eleven months of 2009. The tax credit is available for a residence purchased on or after January 1, 2009, and before December 1, 2009.
    
4. Income limitations for eligibility. To receive the full credit, the adjusted gross income of the purchaser can not be more than $75,000 for single tax filers or $150,000 for joint tax filers. The credit phases out between $75,000 and $95,000 for single filers and $150,000 and $170,000 for joint filers.

How Do You Get the Tax Benefit?
For eligible homebuyers, you will receive your tax credit when you file your 2009 federal income tax return due on April 15, 2010. This means that the credit will first reduce any federal income tax owed for 2009. Any amount in excess of the tax due will be returned to you as a tax refund.

It is important to note that this home buyer incentive does not provide immediate funds to assist with the purchase of the house. You will still need to accumulate sufficient money for the down payment and for the closing costs in order to complete the purchase. However, to receive benefit of the tax credit earlier than when you file your taxes, you may want to consider reducing the federal tax withheld from your paycheck during the remaining months of 2009 after the purchase. This will allow you to increase your take-home pay over the remaining paychecks for the year by the amount of the anticipated tax credit.

Warning…Recapture if Sell Too Early
If you sell your home within three years, the entire amount of the tax credit that you received is recaptured at the time of the sale. In other words, the closing documents will require the full credit amount be returned to the government from the proceeds of the house sale. 

Author:  Elaine E. Bedel, Bedel Financial Consulting, Inc. - Source
________________

Save even more money by using DoorFly to negotiate real estate agent fees with a rebate realtor. At DoorFly, real estate agent "bid" a portion of their commission back to you as an incentive for your business.

Now is a great time to consider home buying! Check back often for more home buying advice.