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Posting Perspective

Posted on May 19th, 2011 by Richard. Categories: Just for Fun

I hadn’t really kept track of the numbers so far but noticed that as of today, the number one category that I post in is by far…Nature, followed by Community Feature, then Just For Fun, then Market Conditions and Downtown. Since this site leans heavily on photography and images, I guess it makes sense that ‘Nature‘ is the top one. What is more photogenic than Nature’s creations. I try to enjoy it whenever I can and just happen to have a camera with me usually. And I liked it that ‘Community Feature’ was #2. That’s my unstated mission here, to provide information and a look at our community from a different perspective. I’m also happy ‘Just For Fun’ was #3. That’s a window into my personality there. Even though I’m committed and serious about taking care of business properly, professionally, I think it can be enjoyable and fun at the same time. When I encounter others who know me or learn that I’m a Realtor, the number one question I get asked is “How’s the market?” So I also try to provide a snapshot of the market from my perspective with ‘Market Conditions’ posts. I’m also not surprised that ‘Downtown’ is in the top 5. From a local photographer’s perspective, there isn’t another place that is more target rich for photo subjects than downtown here. I haven’t even scratched the surface of possibilities there actually. My thinkng is…even though the population has spread out from the original center of Indianapolis to the suburbs, past Greenwood, Brownsburg, Zionsville, Carmel, Noblesville, Castleton, Lawrence, Fishers, McCordsville, Greenfield and Shelbyville… we all still are Indianapolis citizens. The mother ship. It’s what draws us all together and nurtures us all. My business pursuits takes me to all of those places, wherever my customers and friends are, but Indianapolis is something they all have in common. Finally, I noticed that ‘Video Link’ was in last place. I shot a few videos used in some of the earliest posts linked through YouTube. It was fun doing these, but I did them just fooling around experimenting with the video function of my still camera, and didn’t like the digital quality very much. Using a good video camera and adding more video is something I plan to do this year.

It’s fun putting IHB together. Thanks for being here.

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Diminishing the American Dream

Posted on May 18th, 2011 by Richard. Categories: Financing, For Home Buyers, For Home Sellers

I stay away from politics normally, but this is an needed exception. There is a Bill being considered in the US Congress now that everyone needs to be aware of who owns a home or who may buy one in the future. It proposes changes to regulations involved with Qualified Residential Mortgages, drastically changing the rules of who would be able to obtain a mortgage loan. Sellers and Buyers would both be impacted by this. It would be a lot tougher for Sellers to sell their property and so the value of their property would be affected as well. Essentially it requires that even the most credit worthy buyers have a minimum of 20% down payment in order to get a conventional loan to purchase a home. Buyers with excellent credit can now purchase homes with 10% or even 5% down payment now. Please read this White Paper for more details and what the impact would mean.

The intention was well meaning…strengthening lending laws so there won’t be another meltdown like the one a couple years ago due to the sub-prime mortgage debacle. But this just shows what can happen when non-experts don’t think things through in a practical way. The proposed regulatory provisions are too narrowly defined. If you thought the market has been tough the last few years, that would be nothing compared to what would happen if this were to pass. Owning a home would be out of reach for a huge number of  Americans. According to the National Association of Realtors research, 60% of recent home buyers made less than a 20% down payment, and it would take 14 years for a typical person to save up a 20% down payment to buy a median-priced home.

I’ve contacted my Senators and Congressman about this already. But if you feel inclined to weigh in with your respective congressmen on this issue, please call, email or write them. If you are from Indiana,  here are links to the contact information for Senators Coats and Lugar. For all other states Click Here and “Find Your Senator” in the box in the upper right. And for contact information for the Congressman representing your district, here is a link to the US House of Representative website. Just input your zip code in the box in the upper right.

I strongly believe that this Bill would wrongfully diminish home ownership and is counter-productive to strengthening our economy. Owning our own home gets us involved as citizens in making the country a better place to live, and is one of the cornerstone concepts, right along with freedom and liberty.

 

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Spam…a new record

Posted on May 17th, 2011 by Richard. Categories: Food for Thought

As I logged in today I noticed that the spam blocker had detected 89 attempted spam posts to IHB since yesterday. That’s a new one day record. I think the old one was around 60. The professional spammers think they are leaving a comment on a post, the real purpose being to deposit a link to a website. They get paid a little bit for leaving each web link, that’s why they do it. It’s a business. They have a fake comment all ready to copy and paste, leave their link and move on to the next post, trying to disguise it as a different author. But not one of their comments has or will ever make it onto the site. The Blocker recognizes it as Spam and automatically puts it in a spam folder. Takes me about 5 seconds to delete all of them.

It’s impossible for any bogus comments to make it onto IHB. Not only the pro-spam that is auto-detected, but ALL comments (unless the author is previously approved) must be approved first by me in order to be posted. So, if you, Mr. or Ms. Pro-spammer are reading this, go ahead, knock yourself out. Better yet, get a different job…one that tries to add something of value rather than one that tries to take from others.

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QR Code Mania

Posted on May 14th, 2011 by Richard. Categories: Just for Fun

Ever so often, there’s something new that becomes the rage of the moment in technology. First someone pioneers it, then it begins to mainstream. Lately, it’s QR codes. To me it’s sort of like a two dimensional bar code. Their use and now growing popularity is possible because of iPhones and Android phones that have the capability of scanning the code and directing the phones browser to the web address described within the code pattern. A few Realtors I know are starting to implement them into their business. But I guess I’m not sold on there being a tremendous value. Some were saying they could put a QR code on their yard signs to send someone to their website. Yes but someone would actually have to stop so they can scan the code. Wouldn’t work well driving by at 45 mph. Some say the obvious is to put one on the back of their business cards, or in an ad in a publication, fliers or emails…maybe even on a web page like this one? Someone even suggested that as a sellers agent they could pin a QR in each room someplace, so when the buyers agent is showing a home, a web tour can provide explanations and benefits of each space within the home. Wow, people wouldn’t have to talk anymore. We could all just go around scanning and looking at websites on our little mini phone screens!

Sounds like technology bashing? Well maybe a little. It’s OK to use it but when it stops us from being people, then it’s kind of goofy.

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Market Watch – May 2011 edition

Posted on May 12th, 2011 by Richard. Categories: Market Conditions, Market Watch

Market activity for residential real estate last month in the nine-county, greater Indianapolis metropolitan area can be defined by two words…normalizing and strengthening. The number of sales compared to last year during the same month are down, but that’s no surprise as April last year saw the end of Buyer incentives from the federal government, so sales were way out of proportion as people scrambled to purchase homes before incentives ran out. Activity is normalizing now that the government isn’t interfering with market forces. The inventory of unsold homes continues to decline, so Sellers are gaining ground as absorption rates also are normalizing into a more balanced market. And, the average sales price of homes purchased continue to increase, a sign of  the market strengthening. For more in-depth market analysis, including real numbers, charts and graphs, take a look at my latest Market Watch Newsletter.

It certainly has been interesting the last few years. Market activity in general took a hit, that’s for sure. Whenever that happens though, pent-up demand just keeps building. The market is improving, but still a lot of people want to move but don’t feel comfortable or can’t for whatever reason. Sooner or later though, when our collective optimism returns sufficiently, demand will come bursting through. It’s a cycle that will surely repeat itself just as it has many times before.