Answer: Staging is free with every listing at the request of the homeowner.

 

 Answer: Yes, we are relocation specialists and can provide you with a virtual tour of the Indianapolis area

 

 Question: "Our home is being refinanced. We think the appraisal is too low. What can we do to get a higher appraisal?"
Answer: I would ask an experienced REALTOR® to do a CMA (comparative market analysis) to determine the fair market value. Then, I would compare that to the appraisal. If there is very much difference, I would suggest either changing mortgage companies, or asking your current company to get another appraiser and show them the market analysis.

 

 Question: "My lender says I need flood insurance, but our new home is nowhere near a river!"
Answer: The Federal Emergency Management Agency (FEMA) establishes all flood zones. If your home is located in a federally designated 100-year flood zone, you must purchase flood insurance.

However, if your property sits at a specified elevation, you can apply to FEMA to have that home site reviewed, surveyed and possibly exempted. I am not familiar with the step-by-step process, but I have heard that it is somewhat lengthy. I would recommend you call your local FEMA office to clarify the process to have a property removed from the flood zone, and inquire how long it may take. 

 

Question: We purchased our first home this year, and are wondering if any of the closing costs or other expenses is tax deductible?
Answer:Congratulations on the purchase of your new home! You are to be commended for taking that important step.

Some of the expenses you incur in the purchase of a home are tax deductible—even if your purchase is not your first home. Your question reminds taxpayers that there are different kinds of expenses that are tax deductible. Certain closing costs can be deducted, as can many expenses associated with homeownership. However, you must file Form 1040 and itemize your deductions on Schedule A (Form 1040) to get the tax benefit. Only two closing costs are fully deductible: real estate taxes actually paid to the taxing authority and interest that qualifies as home mortgage interest. Both of these costs are typically included in your monthly house payment and deposited to an escrow account. Your real estate taxes are paid to the county treasurer by your lender if escrowed. To be deductible, home mortgage interest must be on a loan secured by your main home (or a second home); the loan can be a first or second mortgage, a home improvement loan, or a home equity loan. Each year, your lender will provide a Form 1098, or mortgage interest statement, which shows the payment of taxes and mortgage interest as well as reduction of principal, homeowners insurance and any other expenses paid from your escrow account during the previous calendar year.

A good place to start looking for the answer to your question is the Internal Revenue Service itself. IRS Publication 530, "Tax Information for First-Time Homeowners," is available online as a printable PDF file (http://www.irs.gov/pub/irs-pdf/p530.pdf). Persons licensed by the Indiana Real Estate Commission are prohibited from giving tax advice, homeowners should consult a tax advisor as they prepare their tax returns.

Sometimes the cost of obtaining a loan includes fees called points, such as loan origination fees, loan discount points, etc. These fees are deductible on a pro rata basis over the term of the mortgage, but may be fully deductible if you meet certain conditions outlined in IRS Publication 530.

Other settlement fees and closing costs including title insurance, legal fees, recording fees, and surveys you paid for while buying your home are not deductions, but can be added to the basis or overall investment you have made; your home's basis may generate tax benefits when you sell your home.