How to Find an Indianapolis Mortgage/Home Loan: Will Credit Checks Hurt My Credit Score?

by Jess Martin

Will credit checks hurt my credit rating?

When a person is ready to buy a house in Indianapolis, they typically look to their real estate agent - me - for advice on how to handle the process of finding the best rate for their home loan and ensuring approval.

How to find the best interest rates on a mortgage/home loan in Indiana can involve researching multiple lenders and I always suggest that my clients do so. However, my clients are naturally concerned that having several different companies pull their credit reports will affect their FICO scores - the credit report/history kept by the major credit reporting bureaus.

While it's always important to be cautious with something important as your credit rating, there are several things to understand about how credit bureaus look at such things when calculating your credit score for an Indianapolis mortgage loan.

Yes, multiple applications and inquiries can have an adverse affect on your FICO score.

However, and this is very important, the bureaus view inquiries quite differently when they can see that an individual or couple is "credit shopping." This involves looking for the best interest rates when attempting to secure a loan for a major purchase like a house or car.

Essentially, if you have several inquiries from different Indiana mortgage companies within a short period of time (typically about 30 days) the credit bureaus understand that you are "credit shopping" and these requests to pull credit do NOT hurt your credit score.

But do NOT draw out that shopping over a long period of time (a few months) otherwise your credit score indeed may be nicked.

Here's an excellent article that details far more about this subject.

When you're interested in buying a house in Indianapolis, including Central Indy, Midtown, Downtown Indianapolis, and Broad Ripple, contact me for a chat and no-obligation advice on your best options.

My Featured Indianapolis House for Sale: 5219 Channing Road, Indianapolis, IN

Three Bedroom Broad Ripple/Indianapolis House (Ranch) for Sale

Thinking about making a move to convenient, Midtown Indianapolis? Buying a house in Broad Ripple is a fantastic investment for first time home buyers or anyone looking to be in the middle of the convenient (and trendy) urban revitalization of Indy.

Here's a quick tour of a Broad Ripple house for sale that I just listed. Interested? Email or call me right away for more info and to schedule a showing.

6699 Broadway Street, Indianapolis, Indiana 46220

Three Bedrooms and Two Baths

Fantastic Broad Ripple House for Sale. A great location and recently updated.

Move-in ready with hardwood floors in living and dining rooms and kitchen.

A great kitchen and peaceful dining room.

The kitchen and dining room combine for some nice space for scrumptious meals.

Great front windows provide plenty of light.

The Sun Room adds additional living area with cool retro fireplace as the feature.

All brick exterior with a large fully fenced back yard offering mature trees and large wood deck make for a perfect place to entertain.

The Master Bedroom

Bedroom Two (or Office Space)

Bedroom Three

Master Bathroom

Perfect location! Walking distance to Monon Trail, Canal Towpath and all things Broad Ripple.

The Laundry Room

Contact me, Jess Martin, your Central Indy Real Estate Expert with the Indy Real Estate Experts for more information. Email me or call 317-650-8590.

See More Information Here: Broad Ripple House for Sale: 6699 Broadway Street, Indianapolis

Green Neighborhoods in Midtown Indy: Revitalization Plans for Indianapolis' Tarkington Park

by Jess Martin

Would you like to see a brand new Tarkington Park in Indianapolis?

As a nearby resident who is a big fan of our area as a fantastic place to live in Indy, I'm excited at the recently announced plans by the city to invest $5 million dollars into upgrading this important green space.

Contact Me for Advice on Buying or Selling a House in Central/Midtown Indy

Just as importantly, it's the centerpiece of an approach to strengthen the amenities and business environment of the entire area. Simply put, beautiful parks are great for homeowners and for business owners!

The plan is to make Tarkington Park in Indianapolis a neighborhood destination for the more than 30,000 people who live within a 15-minute walk of the park.

That includes me; I live just a few blocks from Tarkington Park and love helping people buy and sell houses in this part of Central Indy - a very cool place to live that I'm happy to call home.

Here's the Tarkington Park "Master Plan."

I wanted to bring this to the attention of other stakeholders and fans of this Northside area at 39th and Illinois streets. If you'd like to see this area grow even more, your support and voice needs to be heard by Mayor Greg Ballard's office and the Indianapolis City Council, a group that still needs to confirm the initiative.

Unfortunately, there are some political entanglements with the plan that need to be straightened out.

Read about the political problems involved in this article from The Indy Star.

My thanks to the folks at Midtown Indianapolis for alerting me to this new opportunity. They'll also be leading the charge to help ensure that a Tarkington Park revitalization does come to fruition.

I'll keep you abreast, and you can also sign up for the Midtown Indy email newsletter or Like them on Facebook.

Indianapolis House for Sale from The Indy Real Estate Experts

   

5219 Channing Road, Indianapolis, IN

Check out this beautiful 4 Bed, 3 Bath home that boasts an updated kitchen with granite counter tops & all stainless steel appliances. Perfect for entertaining, the first floor kitchen, formal dining room and living room are all open to each other. The lower level family room with a wet bar and fireplace offers another place to entertain or relax! This home includes updates galore with built-ins, crown molding, two fireplaces, & a gorgeous back patio. All this on a nearly 1 acre, tree-lined lot!

Email Jess Martin for Information on This House

5 Tips to Ready any Residential Real Estate for the Market

With this latest snow storm, I know many of you are thinking spring will never arrive, but it will be here before you know it and there are things you can do now to get your property ready if you plan to list soon. Here are a few tips on what to work on now to make sure your home will look its best when the For Sale sign goes up.

1. The Kitchen:

The kitchen must pop.  These days, stainless steel is the way to go with regard to appliances.  The next best thing to stainless is a faux stainless or black.  The key is to make sure they all match in color.  Appliances are easy to find on ebay, Craig's List, Freecycle, and Facebook.
Clear the clutter from the counters!  Put the toaster oven, knife set, spice rack, etc away (pack them up or find space in the cabinets).  Clear countertops to make the kitchen look large with plenty of prep area.  Take all of the photos, papers, magnets, everything-off of the refrigerator and other appliances.  This clutters the space and hides the appliances.  Clean the sink with Bar Keeper's Friend (if its stainless steel).

2. The Entry:

Sweep front entry and clear the cobwebs.  Remember buyers stand here waiting for the Realtor to open the door. Add pops of color using a new, brightly colored welcome mat, sweep away dirt and debris before showings.  If the weather permits, add a contemporary pot of fresh flowers....be sure to keep them healthy with proper water and sunlight, of course.  Make sure the patio lights works, clean the windows on the storm door and any other windows in the front entry area (later I'll tell you to clean all of the windows-inside and out...it really does work).

3. Declutter the entire house:

You're moving anyway, so....PURGE!  Clean out closets, shelves, drawers, cubbies, nooks, crannies.  Combine like items into one area, remove collector's items and other valuables (pack them, you're moving!), organize cabinets, be sure all of the lights in every lamp and light fixture have working bulbs, and dust everything (shelves, t.v.'s, dressers, buffets, tables, furniture, etc).  Pack up little trinkets.  Small trinkets clutter the house and make it look small....use big decorative pieces such as large pictures, plants, vases, lamps, buffets, end tables, etc.

4. Bathrooms:

 Next to the kitchen, the master bedroom (which we'll talk about below), and the bathrooms are the most important rooms in the home.  These rooms must be in tip top condition.  If there is a budget for remodeling, it should be spent on the kitchen, bathrooms, and master bedroom (typically in that order).  Make sure all of the lights are working with working bulbs everywhere there are light bulbs.  Clean sinks, mirrors, windows, toilets, bathtubs, and flooring.  Place fresh soap and linens out (folded neatly), and place a nice rug in the center of the floor.  Remove old shampoos and soaps that clutter the bath area, organize linen closets...fold towels and sheets neatly and take out what isn't being used...pack it away so the closets don't look stuffed full and cluttered.

5. Master Bedroom:

 Declutter.  Remove out of season clothing and pack it away.  Use the same type of hangers throughout all of the closet area.  File clothing from short sleeve to long sleeve and from light to dark colors.  Put pants and dresses all together in their own area. You want this room to look as if you have plenty of room and are not over flowing with "stuff".

 

Planning on listing your property this spring? Call me today to set up a free home evaluation. I'll walk through your home with you and discuss things that you can do now so that your home will SELL FAST for the MOST amount of money!

Indianapolis Home Warranty Facts

by Jessica Cook Martin

I've recently been working with several first-time home buyers in Indianapolis and we've spent some time discussing home warranties.

I have a warranty on my own house and think they are a great option for first-time home buyers - the peace of mind they offer someone who's invested a big chunk of their future in the purchase of real estate can't be overstated.

That's especially true for couples like my husband and I who live in an older home that requires a lot of care and TLC. Home warranties in Indianapolis don't make sense for everyone (I think that's important to point out) but if you plan to sell, they can also be a wonderful selling feature!

I thought I'd offer a bit of information on home warranties so you can make an informed decision of your own.

If I may answer any other questions you have about home warranties in Indiana - or provide advice on buying or selling a house in Indy - please feel free to drop me a line here or call.

Keep in mind that - just like any insurance policy - home warranty specifics vary greatly from policy-to-policy and company-to-company. There are also different legalities in some states.

Home Warranty Overview

If a home system or appliance breaks or stops working, the home owner calls the home warranty company.

The home warranty company calls a provider with which it has a business arrangement.

The provider calls to make an appointment with you.

The provider fixes the problem. If an appliance is malfunctioning and cannot be repaired, depending on contract coverage, the home warranty company will pay to replace and install the appliance.

The home owner pays a negligible fee similar to a deductible (normally less than $100).

Here's a Good Article on Home Warranty Facts

Information on Indiana NEW HOME Warranty Law

Indianapolis House for Sale: 5219 Channing Road, Indianapolis, IN

Check out this beautiful 4 Bed, 3 Bath home that boasts an updated kitchen with granite counter tops & all stainless steel appliances. Perfect for entertaining, the first floor kitchen, formal dining room and living room are all open to each other. The lower level family room with a wet bar and fireplace offers another place to entertain or relax! This home includes updates galore with built-ins, crown molding, two fireplaces, & a gorgeous back patio. All this on a nearly 1 acre, tree-lined lot!

Broad Ripple Village 2014 Events and Activities

Yes, we've just barely slipped into 2014, but I wanted to provide some info on upcoming events in the Broad Ripple area that are indicative of the awesome lifestyle available to those who buy a house and choose to live in this thriving community.

Ready to Buy or Sell a Broad Ripple or Central Indy House? Contact Jess Martin for Advice

Chief among those impressive events is the Broad Ripple Art Fair, the primary fundraiser for the Indianapolis Art Center. This year it's scheduled for May 17 and 18, 2014, with a preview party kicking things off on Friday, May 16th. More than 225 professional artists will display their work.

Because Cupid is Stupid

Runners, come hit Broad Ripple for the Singles Dash 5K on February 15, 2014. Release your Valentines Day frustrations...whatever they are.

Post-Holiday Recycling Event

Clear away the holiday mess and be green by recycling the stuff at Broad Ripple Park on Saturday, January 11, 2014 from 10a-2p. Here's what they take:

Real Christmas trees (cleared off)​

​Gift boxes

​Cardboard boxes

​Styrofoam

​Old electronics

​​Magazines and catalogs. 

Get More Information

Follow signs within the park to the specific drop-off locations.

​Broad Ripple Park, 1610 Broad Ripple Ave., front entrance.

Winter/Spring 2014 Classes at Broad Ripple Park

Broad Ripple House for Sale: 5138 Ralston Ave.

Downtown Indianapolis Revs Up with Velocity

When you're the Central Indy Expert with The Indy Real Estate Experts, you get pretty excited when a new initiative is announced to make downtown Indianapolis an even cooler place.

Heck, I already love the downtown area. That's the chief reason I've chosen to be an Indianapolis real estate agent who specializes in helping people buy and sell houses downtown and in Central Indy. It's an awesome place to live!

Contact Jess Martin to Buy or Sell a Central Indianapolis House

And I also focus quite a bit on working with first-time homebuyers, many of whom are the "millennials" that you hear so much about; the very people like me - singles, young urban professionals, and young families - that tend to want to make downtown areas their home.

Downtown Indianapolis is already so vibrant, and yet Mayor Greg Ballard and other community leaders just announced a new plan called Velocity.

The plan has short term goals - mandated to be met in 18 months - that include smaller improvements like stronger panhandling laws, more parks, more street lights, free Wi-fi, public restrooms, and other upgrades.

Meanwhile, a longer plan that will stretch for years includes some excellent goals like a pedestrian bridge across West street that will connect downtown with IUPUI, plus other major initiatives.

Read the Entire Indy Star Story on "Velocity"

I just wanted to give you a heads up on these plans, and provide some links and other information. I encourage people to offer input and share the vision. Let our leaders know what you like and feel free to offer more suggestions. 

And of course, if you're interested in buying or selling a house in the downtown Indianapolis area, contact me, Jess Martin for advice and a no-obligation analysis of your options.

Visit the Indy Velocity Website

Broad Ripple House for Sale: 5138 Ralston Ave, Indianapolis, IN, 46205

Indianapolis House for Sale: 5356 Greensward Lane, Indianapolis, IN, 46224

View mortgage costs, closing costs, and other financial info for this house for sale

A very well-maintained home with tons of bang for the buck! That's my description of this Indy house for sale. Check out the listing and photos, then call 317-650-8590 or email me for more information or to schedule a showing.

Indy House for Sale: 5356 Greensward Lane, Indianapolis, IN, 46224

Check out this move-in ready ranch. From the moment you walk in and see the vaulted ceilings and easy to maintain laminate floors, you will love this home.

In the cooler months warm up next to the beautiful brick fireplace.

The living room and eat-in kitchen are open, allowing you the perfect space to entertain friends and family.

The master bedroom offers a large walk-in closet and master bath. 

It's the perfect retreat. Added bonuses include a fully finished garage and a nice, private backyard.

Contact me, Jess Martin, your Central Indy Expert with the Indy Real Estate Experts

317-650-8590

Should I Stay or Should I Go? 4 Reasons to Sell Your Indianapolis House (or Not)

It was the 1980's when The Clash rocked out on the pop-punk classic 'Should I Stay or Should I Go?" If you're a bit too young to remember that, here's a quick YouTube refresher.

And of course, the question holds true today for anyone pondering whether to sell a house in Indianapolis and upgrade to a new locale. Or maybe you're a hopeful first-time home buyer in Central Indiana trying to figure out whether to venture away from the rental noose.

Here are two indications you should stay put and two clues that maybe it's time to join the ranks of 2014 Indy homebuyers.

You should probably SELL if...

1) You have no space and what space you can claim is shrinking. 

Even if you don't have kids, available space in a rental or a house shrinks over time. You develop different needs than you had a few years back or heck, maybe even in as little as a few months. That one or two bedroom place may have been fine at the time, but maybe one of them has morphed into a defacto office or studio.

And certainly, if there are kids involved, that's an obvious story. Whether it's a baby on the way, toddlers turning into pre-teens or - God forbid - growing teenagers demanding more space, if your available square footage is on the decline, it's time to sell and buy a new house in Indianapolis or our fine suburbs.

2) You'd like to divorce your neighborhood.

Just like marriage or any partnership, the relationship with the neighborhood you once loved can decline over time. Maybe you moved in because the area was "on the rise" or it was close to friends, family, or your job. Obviously, all of those reasons can change over the years. Sometimes new freeways pop up in backyards for no (apparent) good reason. If you grit your teeth every time you fill out the rent or mortgage check because you loathe your neighborhood, it may be time to move on.

You should probably STAY if:

1) A mortgage increase is no problem. If you get two roommates and sell a child.

Ah, the cold, hard reality of your financial straits can really dampen enthusiasm for buying a new house. Yes, you absolutely do deserve a great new place in the fancy sub-division across town. But all of us are prone to becoming really good at fooling ourselves when it comes to determining our ability to afford something new.

You really must do the budget, crunch the numbers, and above all else - BE REALISTIC.

2) Some small remodeling projects or DIY decorating will make you happier.

I've seen many people develop deep dissatisfaction with their Indianapolis house just because it doesn't sparkle as nicely as it used to or as well as their friend's place a couple blocks over. But the truth is, many houses can be brought back up to speed and their owner's sophisticated taste via a decorator, contractor, or their own sweat equity.

While the projects may seem scary or time consuming, investing money in a small remodeling project and upgrades, landscaping, or even jumping in with your own muscle can save you big dollars when compared to buying a house you can't afford. Especially when you factor in closing costs and Realtor commissions.

Go ahead and put in the wood floors or that deck or new driveway you need. Pamper the place and you just may be surprised.

Hey, I'll be happy to help you sell your house and buy a new one, but it's also my job to help people out and allow them to stay put if it's best for all concerned.

Call or email me any time for advice and thoughts on your specific real estate questions around Indianapolis.

Broad Ripple House for Sale: 5138 Ralston Ave, Indianapolis, IN, 46205

This completely renovated Broad Ripple bungalow is move in ready. You can enjoy all the conveniences of a low maintenance home, new windows, roof, AC and furnace, plus the benefits of a great location. The bright, sunny interior has new bamboo flooring in the living room, dining and bedrooms. Enjoy the well maintained beautifully landscaped private back yard, while grilling on the patio, then take a stroll up the Monon. The newly finished basement is ready for your choice of paint color.

Idea's for Sellers: Replacing Carpet Prior to Selling

I have recently been asked by several clients if its worth the investment to replace carpet prior to selling. This is a great question and honestly it depends on a few things.

 

 

 Take a look at your house and review the following:

1. If your walls are a neutral color or a “current” color that can work well for most décor and your carpet is the main thing dragging everything down then YES, replace it!
2. If you have wallpaper, unless you plan to remove it and paint, then just replacing the carpet may not make much sense. Your room will still look dated.
3. Severely damaged carpeting needs to be replaced to help sell your home. If your carpet is threadbare or torn in any area, replacement is a must. Carpeting that has faded, covered in stains or has uneven color also needs attention.
4. Are there hardwoods under that carpet? Whether its wood stairs or a room with hardwoods, there are very desirable. If yours are in good shape, you can save yourself some money by simply removing the carpet and cleaning up those hardwoods!

 I'm not a big fan of white walls with a white ceiling but this carpet is by far the worst part of this room.

 

 

This carpet is fairly neutral and cleaned well, therefore leaving it could mean saving some money or it may allow you to tackle another project.

 

 Under this VERY dated carpet there are hardwoods. In this case, just removing the carpet and cleaning up the wood can quickly add value!

Carpet and flooring is HUGE for buyers! It means they can move right in with all of their belongings, so if you have the budget to replace it you will likely get this investment back. Buyers over-estimate repairs like this and will quickly take $$ off of your sales price for the hassle of them replacing it.

When selecting new carpet consider the following: 

If you choose to replace the carpet, choose something middle of the road as far as price. Don't select the most expensive carpet (you will not see a return on your investment). If your padding is in good shape, meaning you don't have traffic pattern marks, look into leaving the padding and only replacing the carpet, this will save you some money.  

 

MOST IMPORTANT!!! Choose something neutral, not too light and not too dark. Don't pick anything that has a peach or yellow undertone. Make sure it feels thick and nice to the touch.