24 Hours in Indy -- What Would You Suggest?

Last night I had dinner with a friend in Cincinnati who mentioned that she and her husband will be taking a road trip to Indy this weekend.  She asked what I would suggest as they will be staying downtown at the Conrad, want to do a bit of shopping, are total Foodies (he likes hot & spicy, she is a vegetarian) and they prefer to sit at the bar and listen to great music.

My first suggestion:  Check the events section at VisitIndy.com to see what is happening.  This weekend is the Circle City Classic and a Colts game.  This is great information to help them avoid the traffic and maximize their time experiencing our city and not sitting in traffic.

Start at Keystone at the Crossing with brunch at Cafe Patachou before shopping at the Fashion Mall.  And right now, make sure you use the entrance at River Road next to Maggiano's and not the main entrance to avoid all that construction traffic!

Shop until you drop, then enjoy the drive downtown.  When you exit the Fashion Mall on 86th Street, turn right and go 2.4 miles to Meridian Street.  Turn left on Meridian and experience "One of America's Most Beautiful Streets."  Along the way you will see Second Presbyterian Church, which received the world's attention during Ryan White's funeral and the Governor's Mansion at the NW corner of 46th and Meridian.  Don't miss my favorite home at 4356 N. Meridian Street. (below)

 

After checking in and relaxing for a bit I would head out to enjoy Indy!  Here is where I am torn on two different suggestions.

 

Option 1:  Dinner at St Elmo's followed by drinks and live music at the Slippery Noodle.  The challenge with this is that St Elmo's has a Sunday menu that is all but impossible for a vegetarian.

 

Option 2:  Take a cab to 45 Degrees on Mass Ave for a pre-dinner drink.  Then walk half a block to Mesh for dinner. (awesome patio with fireplace) Then perhaps an after dinner drink at Tini.  The challenge with this option is there is no live music in the Biergarten at the Rathskeller on Sunday night.

 

After sleeping in on Monday morning, I would take a walk over to the canal and have lunch outside at Creation Cafe.

 

What would you suggest for 24 hours in Indy?



ERMAGERD GERN CERN!!

As I was driving downtown between appointments today, I was amazed by all the visitors here for GenCon. One of the best people watching weekends of the year in Indy...combined with Indy Fringe, the MotoGP at the Speedway, and the last weekend of the Indiana State Fair. Nearly 150,000 visitors are in Indy this weekend!

This got me to wondering how many of the GenCon visitors have rooms in their homes just for gaming. Several of my last buyer clients have been looking for the right space for their "Nerd Den" as one called it. I was talking with one GenCon visitor from Portland who is building shelves in his office for his collection of miniatures.

I love the variety of people I have the pleasure to help find the "right home." And, yes! I have a Game Room of my own...it's my home office...all MONOPOLY!!

Closing Costs

Closing costs.  One of the most confusing elements of a real estate transaction because they vary depending on the type of payment (cash vs mortgage) and on any negotiations in your Purchase Agreement.

Often buyers will ask the seller to "pay their closing cost."  That is too vague for me so when I write an offer I spell out exactly what the seller will be paying on the buyer's behalf.  I also point out to the buyer that the seller is not really paying this...the buyer is financing it over the life of their mortgage.  Example:  If a property is listed at $100,000 and the seller would sell for $97,500, they will stick to the list price of $100,000 if they are paying $2,500 of the buyer's closing cost.  Sometimes it works better to have the cost paid and less out of pocket expense at closing and sometimes it is better to have a lower mortgage balance.  Your Lender will give you a detailed itemization of these costs and I will work closely with them to best determine how to craft a purchase agreement to your best advantage.

A buyer can ask the seller to pay these costs on a bank-owned home and if using FHA, VA, or conventional financing.

Let me know if you would like more information or a referral to a great lender that can help you determine your financing options!

Home Warranty Companies

I am often asked for recommendations on home warranty companies. Below you will find a partial list of companies I have had buyers choose in the past.

The first three listed below are affiliate members of MIBOR, The Metropolitan Indianapolis Board of REALTORS:

First American Home Buyers Protection
Lori Shoemaker
317-294-1326

Home Warranty of America
Julie Bareford
317-319-6471
jbareford@hwahomewarranty.com

HSA Home Warranty
Angela Tevebaugh
317-459-4070

2-10 Home Warranty
Katy Torgerson
317-679-1344
ktorgerson@2-10.com

America's Preferred Home Warranty

American Home Shield

Home Inspectors

Below is a partial list of home inspectors that my buyers have used or that have been recommended by others.

Iron Gate Inspection Services
Christian Strnad
317-987-8525
cstrnad@irongateinspection.com

BPG Inspection Service
800-285-3001

US Inspect
Tim Tucker
888-874-6773

Security Home Inspections
317-848-1744

Chapman Property Inspections
Shawn Chapman
317-984-3072

Homewerx Inc.
Ty Nuckols
317-8181-8989

Post-Tax Credit Buying Opportunity

Wow...  May and June sure were slow months for new sales!  Of course it was to be expected after the rush of March and April with buyers wanting to qualify for the $8,000 tax credit.  Did it really get 'new' buyers into the market?  I think we just borrowed buyers from June, July, August...and perhaps a few from the Fall.  If you were planning to buy and qualified, why not make the 8K grab?

Where is the opportunity now?

With fewer buyers in the market right now, the Sellers who were not successful during the tax rush may be more negotiable this Summer.  A well-qualified, saavy buyer (with a great buyer's agent!) can find fantastic buys and may even end up with a bigger gain, saving more than the $8,000 off the price you pay on your new home.

And you won't have to pay it back to Uncle Sam if you decide to sell before 2013.

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