Last week we did not publish the Settles Report. We questioned some of the reported numbers that where subsequently corrected, but too late for us to publish the report during that week.
Tag Archives: renting
Can I afford buying a home or do I need to make some changes
Before you even start looking to buy a home you should first find out if you can afford a home. Yes, for many, homeownership is still the ultimate dream but it is not for everybody. Sometimes you have to put your dream on hold until you are able to fulfill this dream.
To find out if you can afford purchasing a home go through the following steps first
Continue reading Can I afford buying a home or do I need to make some changes
CENTRAL INDIANA IS NOT A BAD PLACE TO BE
Based on the recent mentioning on livability.com, Central Indiana, especially Indianapolis, has made many positive changes over the last 10 years.
Whoever would have thought that Indianapolis IN would be #3 on the list of top 10 list for having the best Downtown in 2014? Normally we have several other Central Indiana towns on this list and it is enjoyable to see that Indianapolis finally made it.
Indianapolis has worked very hard to make their downtown more user friendly. You can take a stroll up and down the Central Canal by foot, or bike. Rent a bike or boat, or take a gondolier ride down the canal.
When you stroll around Indy you will see all the new art pieces that have been integrated into the city landscape. You have a many options for shopping, entertainment, and dining.
USA Today has noticed the positive changes and innovative ways Indianapolis has been growing and picked Indy as the best place for conventions. It is very easy to find hotel space in Indianapolis. Park your car and just walk. Everything is within walking distance and the Indianapolis walk-ability, connectivity, and access to the restaurants, entertainment, and hotels won them many positive reviews.
Indianapolis, and Central Indiana itself, is one of the more affordable places to live, rent, and buy. With a current median price of $136,000 for a home for Central Indiana we are still an affordable area to live. In all areas we have affordable housing that is more in the range of exclusive housing in the downtown as well as the outer areas of the downtown area.
When you would like to have more information about Central Indiana and the Central Indiana possibilities please contact the Settles Team.
WHAT IS THE DIFFERENCE BETWEEN REAL PROPERTY AND PERSONAL PROPERTY?
There sometimes is confusion between the terms real property and personal property. Especially when it comes to real estate. The legal definition for real property, taken from The Free Dictionary By Farlex is:
1) all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), and anything growing on the land…
Let me give an example:
Modular Homes
When a modular home is placed on a foundation and the wheels have not been removed from its frame it is still considered personal property.
On the other hand when a modular home is placed on a foundation, permanently fastened to that foundation, and the wheels are removed, the modular home becomes real estate.
Confused?
Here is anoth
er example.
A picture you hang on the wall with a nail and you hang the picture on the nail, the nail becomes real estate and the picture is personal property.
When you screw the picture directly onto the wall, like some restaurants do to make sure the pictures are not getting stolen, the picture now becomes real estate.
As a seller you need to keep in mind and understand the difference between real property and personal property especially when you are planning on selling your home and you would like to keep certain items such as light fixtures or shelving for example.
Anything that is permanently fixed to the land, or permanently fixed to the structure on the land, is real property. Everything else, not permanently attached to the land or structure, is personal property.
When you have questions feel free to contact the Settles Team.
Let’s Tackle The Financial Past
Many of us are still working through the aftermath of a short sale, foreclosure, or some other financially devastating event. Rather than buying another house you need to rent till you get back on your feet.
Yes, the current mortgage rates are great and it would be a great time for buyers to get into the Real Estate market but when you are still working through your aftermath of a possible divorce, short sale, death, or have a lot of late payments, or even judgments at this time against you, you would be better off to rent rather than buying. Even with many lenders now loosening their lending guidelines, many of them are still looking for a 1 to 3 year clean credit record. This does not mean it has to be absolutely perfect but when you are constantly late on utility bills or have reoccurring judgments showing up on your credit report, you could still be a credit risk to the lender and they might not be willing to give you a loan until you show that you are a truly responsible consumer.
You need to be prepared that your potential landlord will run a credit check and there is the chance that you might not get to rent the house or apartment due to what is on your credit report.
Either way it is time to tackle the financial past and finally kick the bad ratings out of our life. Unless you tackle them they will haunt you for the rest of your life and they will affect everything you do from renting, buying another vehicle or house, or possible employment.
When you would like to have more information on how to get started kicking your financial past out of your life please contact us for an absolutely free and confidential meeting where we can discuss your individual situation.
When Taking In A Roommate, Consider A Written Roommate Agreement
Many of us are in the situation of being financially unable to rent a home or apartment on our own. We have to room with someone. Otherwise we might have to sleep on our parents or friends couch or even worse, be homeless.
When you have found the right person to room with, and the perfect home or apartment to make it work, you two still would have to pass the prying eyes of the landlord and get past the rental application process. When the application and screening process is completed and both of you have signed the lease agreement with the landlord, have you discussed or considered having a roommate agreement in writing between the two of you?
I can hear it now…what the heck is a agreement? I have never heard of such thing.
When you decide to move in with someone or take in a roommate yourself it is always good to have a written agreement between everyone involved. It should break down everyone’s responsibility, financially and chores. It should spell out what happens when one of the parties is not keeping up on their responsibility. Just like the lease agreement you singed with your landlord only between roommates.
There are many things you can put into the roommate agreement. Things like who feeds the cat or dog, who cleans the kitchen, who take out the trash, things like that. You are establishing the basic house rules between all of you. In many cases when it is not in writing, signed, and dated it is not agreed on.
When you are not financial able to rent a house or an apartment on your own and looking for help or advice contact the Settles Team. We are more than happy to guide you through this kind of situation.