Realty Insights for Home Buying, Home Selling, and Indy Info

Following is an article courtesy of Tony Stevenson, Mortgage Banker with M & I Bank, talking about reverse mortgages and how they might work for you: Getting Ahead by Going in Reverse – The age when homeowners are first able to apply for a reverse mortgage. 2008 – The year in which the first baby boomers will turn 62. A baby boomer is any member of the generation of people who were born between 1946-1964. These were the years of a rapid increase in the birthrate in the United States. 8,000 – The approximate number of baby boomers who will turn 62 each day starting in 2008. 78.2 million – The number of baby boomers living in 2005. 81% – The homeownership rate of individuals 55-64, the highest of any age category. The next highest, 79.9%, is the homeownership rate of individuals 65 and older. $50,000 – The median account balance of a 401(k)-style plan for those aged 55-64 in 2004. This replaces only 9 percent of income, on average, for workers in this group. With the baby boome...

Many home trends come and go, but there is one trend that seems to be catching on and staying around. Wine cellars, like the bottles of wine they hold, seem to keep getting better with time. Wine connoisseurs come in all shapes and sizes, and wine cellars are being found in all types of homes. If you are thinking about adding one of your own, follow these steps from Victor Trappe , owner of Cellars Limited: Step #1--Climate-controlled or not? Wine keeps longer stored at a consistent and appropriate temperature. But, if you are more of a wine consumer and less of a wine collector, climate-control is not as necessary. Here's an overview of appropriate temps: Champagne=43 degrees Dry German Wines, Riesling=45 degrees Chardonnay, Sauvignon Blanc=48 degrees Sauternes=50 degrees Beaujolais, Rose=54 degrees Rioja, Pinot Noir, Chianti, Zinfandel=61 degrees Cabernet Sauvignon, Burgundy=63 degrees Bordeaux, Shiraz=65 degrees Step #2--Lay the groundwork. If it is going to be climate-controll...

My listing at 15029 Ascot Hills Drive has just been reduced to $599,900! MLS #2805310 Beautiful private setting near Village Farms. Stately home on 1.75 acres surrounded by mature trees and close to nearby horse farms. Enjoy large flexible spaces for family and friends. Home offers detailed wood trim, over 4400 sq.ft., 2 masonry woodburning frplcs in Grt Rm & lower level Family Rm with wet bar. 4 large bedrooms include a mstr suite w/raised ceiling, bath and walkin closet. Minutes from Clay Terrace, restaurants, and schools. A few steps to the Monon! Contact Diane for your own showing! (317) 216-3607

The HOPE Now Alliance is a new private-sector program negotiated by the federal government that should help borrowers with subprime adjustable rate loans that will reset in 2008 or 2009 avoid foreclosure. The voluntary plan encourages lenders to help qualified subprime borrowers refinance their loans into an FHA-insured or other more affordable mortgage without prepayment penalties. Lenders may also freeze the interest on ARM products at the introductory rate for five years to assist borrowers who are unable to qualify for refinancing. Visit www.hopenow.com for more information. Reprinted from REALTOR magazine by permission of the NATIONAL ASSOCIATION OF REALTORS. Copyright 2008. All rights reserved.