Investing in Indianapolis in Real Estate

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Investing in Indianapolis in Real Estate Powered By Docstoc
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Investing in Indianapolis in Real Estate By Joseph Feross

There is a silver lining in every cloud. There are ways to use the Indianapolis real estate market for the advantage of the small investor. If we are looking at the negative trends with owning a home and consider it a sign, then getting real estate for rental property is a very good investment. When you are looking to get a mortgage, consider making your first stop to your local credit union. Credit unions are smaller than banks, and they are usually more helpful to the local community. Purchasing rental property in the Indianapolis real estate market can be easier this way with a real person than going through lots of paperwork with a commercial bank. It’s important to have good credit and a solid employment history in order to get a commercial mortgage in any type of Indianapolis real estate. For commercial properties a loan request usually requires a payment of 30%. However, if you speak with a local community lender at a credit union, they may be more lenient with the requirements, especially with the current condition of the housing and lending market. While other lenders are tightening their belts with their requirements and limits for getting a mortgage, smaller lenders will be more willing to invest in the local community. Providing a mortgage to help someone in the community sell their real estate property or help someone purchase property for an investment is a good way for the lender to make a name for itself in the real estate market. Any blemishes in your credit may not stop you from getting Indianapolis real estate. As the housing market has gone down, there is an increase in the number of foreclosures. On a credit report, it is no longer a surprise to see a foreclosure there. A previous foreclosure may keep you from purchasing real estate for rental purposes. However, with less serious credit blemishes and an explanation, this portion may be overlooked and not considered an issue. There is one thing to keep in mind when purchasing real estate property for rental purposes in Indianapolis real estate. Make sure that you have enough income coming in monthly to meet the mortgage payment for all of your properties. This is standard for any market in the country. There will be times when all of your units will not be rented out. However, you will still have to make the mortgage payment every month. Make sure that this is included in your plan. Even with this tumultuous economic climate, the Indianapolis real estate market has enjoyed a strong
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financial standing. This is happening even with declining property values. There are overall figures that show the city of Indianapolis is working to keep low unemployment rates under the national average. A low unemployment rate along with local and state taxes that are lower than the national average can help the Indianapolis real estate market. This would be a very good investment for whoever purchases and lease their property until there is a rebound in the market. Article is brought to you courtesy of Joseph FeRoss and the Indianapolis IN real estate agents at Indy Metro Homes. For more information regarding Indianapolis MLS please visit

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Real Estate Agents Are No Longer Neeeded? By Joseph Feross

Being a Indianapolis real estate agent is becoming a dying breed. Even with the current economic conditions and the decrease of the real estate market, the Indianapolis real estate market was a strong force at the beginning of 2008. Unfortunately, for the agents, they were slowly going away. Because of this, it has affected the condition of Indianapolis real estate. Since these agents worked only on commission, if they didn’t sell anything, they didn’t get paid. The agent doesn’t get much commission if the buyer and seller are not his clients. Since then, many agents have left the real estate industry because of the housing market crash. There have been others who have filed for bankruptcy. For those who have been in real estate a long time, this is all they know and will have to start over training for a new career. Even before the housing market crash, the career of the Indianapolis rest estate agent was in jeopardy. At one they were a key factor to selling a home. They had property listing information at their disposal. It was exclusively available to real estate agents, and they had access to know what the property’s fair market value would be. With that information, they were able to help someone what price range they qualified for when looking to purchase a home. So much has changed since then. Before that, the Indianapolis real estate agent would post a listing on the Multiple Listing Service, or MLS as it is commonly known as. This would have the information that someone would need in order to know if they wanted a property that was up for sale. This information was only available on a private internet system and only real estate agents that were licensed could get it. Now that things have changed, the public has access to whatever Indianapolis real estate property they were interested in. This included the price, number of bedrooms and other information that they wanted to know about. Because of this, there was not a need for an agent to find out how much the property taxes were. Any buyer can now check out what they want without the assistance of a real estate agent. A real estate attorney usually handles the paperwork in regard to the sale of a property. They usually charge a flat rate, which is not as much as what an agent would get for commission. For a flat rate, some agents will act as a transaction coordinator. Some Indianapolis real estate agents have receded this position just to keep afloat. With the demise of the Indianapolis real estate agent, some services have been taken over by others by using a secret code. With that, comes an uncomfortable feeling towards them and they are being resented, which many think is just cause for undermining the agents. With the current financial situation being part of the crash of the housing market, people are now using Craigslist to sell their homes. They are also able to access tools and other information that used to be exclusively for the real estate agent. This article was brought to you by Joseph FeRoss and the Indianapolis IN real estate team. For information regarding Indianapolis Homes visit

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