Did you know…

All cars and trucks are equiped with headlights?  Today’s weather is rainy, gloomy, overcast…pick your adjective…and on my drive from Beech Grove to Fishers to the Keller Williams Indy Metro NE office I saw no fewer than 30 cars and trucks NOT USING THEIR HEADLIGHTS!  All newer cars come with at least daytime runnng lights THAT AUTOMATICALLY TURN OFF when the engine is shut off…so what is your excuse for not using them and preventing an accident?

Croy Creek Adventure – Day 2

What was that? A falling star? No – just ‘folks’ up and at it before dawn with flashlights and head lamps looking under tarps and checking out the lay of the land. Sunday is the big buyer day – and they arrive early!  We roll out of camp, get the coffee started and start taking the tarps off so we’re ready to SELL!

Most people walk around but some do the drive-by gawking in trucks, golf carts, scooters, bicycles and ATV’s; pulling/pushing kids/dogs in a buggy or wagon. One man even sells “flea market wagons” with sideboards, umbrella, money and cup holders for $125.

This is the day for people watching. This place puts that ‘seen at Wal-Mart’ web site to shame. Just add ‘obese’ as an adjective for most of my descriptions – it’s a good motivator to put down that donut!. Mostly there’s too little clothing to cover up body parts. And when did spaghetti straps become a fashionable decision for Sr. Citizens? Some of the standouts:

  • couple on cycle, her in a purple sundress (I only saw them from the back, others said the front view was worse)
  • guy with l-o-n-g hair matted and woven into his beard
  • woman with jungle print, see-thru, short-short one piece outfit
  • family with children carrying live chickens, dad had the big soup pot and mom had the propane cooker – what’s for dinner tonight?
  • man with very hairy arms and solid tattoos all over them
  • young woman with tube top, Daisy-Duke shorts and cowboy boots WITH spurs
  • a couple that takes dolls and remakes them into horror flick characters (complete with giant spiders and cages) alongside their sparkly hair ribbons
  • and there’s no helicopter parenting here – punishment is swift and solid with a loud “I TOLD YOU NO!”
  • man in the golf cart with a Great Dane seat-belted next to him that was bigger than the cart!

Some will stop, ask the price and say, I’ll think on it. Some will haggle over the price, some will have their money out as soon as they walk up. Most will stop and chat or tell you the story about when they owned that certain item. You’re probably gonna run into someone you know or their relative so don’t say anything bad about anyone.

For $3 you’ll never get a better example of Midwest Americana – join us sometime.

Croy Creek Adventure – Day 1

You’ve heard of BFE? Well, this place is even further out than that. Head due west on US40 and hang a left just past the Putnam/Clay county line. A couple more turns and you get to the gravel road that takes you back to Croy Creek Trading Post. The gate opens 8:00 a.m. on 1st. & 3rd. Saturdays but they start lining up at dawn. A lady in a sunbonnet will take your $3 (whether you’re selling or buying) and tell you to have a nice day. If you’re there to buy, park in a field next to the road; if you’re selling – head on up the hill and find a choice spot. I was lucky to have relatives already there and they saved me a parking spot.

This is NOT your father’s flea market – there is everything and anything for sale here and “Let’s make a deal” is the most popular phrase.  There are new things, old things, live things, dead things and things in between. There’s small animals: chickens & roosters (you don’t want to camp next to those people), rabbits, ducks and puppies. There’s furniture: old, new, broken – use it for firewood. There’s tools of all kinds: mechanical, garden, construction, beauty shop, shiny & new, old & rusty. Need a 4-way (and not in a sexual way)? Buy it here.  How about a gun? There’s several vendors selling and lots of folks walking around with them. See someone with an interesting item? Ask them where they got it or maybe just buy it from them. Deals are made up and down the road.  Around dusk the vendors start covering their goods and settling down for the night.  Small fires were allowed; no electricity, no water – if you need it, bring it with you. Looking out over the field just as the sun was setting I thought: this must be what a pioneer settlement looked like when they headed West. Little wisps of smoke from the fires, the air turning cool, crickets chirping, the porta potty door slaming . . . .  G’night!

Wow…

I know I’m busier than ever, but MIBOR released a report today that home prices are moving higher, the number of closed sales increased by 16.6% over the same time last year and that inventory is down 24.1%!  Are you ready to Sell?  Buy?  This may be the time!  Check out my website at http://vickilreed.yourkwagent.com/, call 317-919-7931 or email me at vlrrealestate@gmail.com to see what I can do for you!

My favorite 4-letter word-

What’s my favorite 4-letter word? FREE of course!!  I always look for something fun to do that’s free and there’s plenty of it around the Circle City. I’ll keep you posted on what’s coming up – who knows, we may run into each other at an event! 

  • Aug. 19: Sci-Fi & Fantasy Art at Garfield Park Arts Center
  • Aug. 19 & 26: Light & Shadows at Art in the Park, 100 Acres at IMA
  • Aug. 17-26: Indy Fringe Festival, Mass Ave, various events, some cost $
  • Sundays: free concerts at 2:00 at Central Library
  • Aug. 23: 25th. Annv of Pan Am Games on Georgia St. 11-1
  • Aug. 23: Pops Concert at McAllister Center in Garfield Park 7:00
  • Aug 25: Hummingbird Banding at IMA 9-12
  • Aug. 26: American Legion National Convention Parade, downtown route
  • Aug. 29th. US National Fan Fest, Monument Circle 8-4
  • Aug. 30: Indy Jazz Orchestra: Garfield Park 7:00
  • Aug. 31- Sept 3: Rib Fest, Military Park, various artists, headliners: Eddie Money & Cheap Trick
  • Aug. 31: Sound of Music at IMA, dusk (does cost $10)
  • Sept. 1 Labor Day Parade, downtown route 11:00
  • Sept. 1: America We Remember, concert & fireworks at Garfield Park 6:30, music by 7 Bridges – Eagles Tribute band

Hope you can enjoy some of my suggestions.

The real story on the “real estate sales tax”

The National Association of Realtors® has published their own TOP TEN list to help clarify the 3.8% “real estate sales tax” rumors swirling around the internet…let me know if this information clarifies or confuses! You can post a comment on this blog, email me at vlrrealestate@gmail.com or visit my website to send an email.

Top Ten Things You Need to Know About the 3.8% Tax

1) When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will NOT be subject to this tax.

2) The 3.8% tax will NEVER be collected as a transfer tax on real estate of any type, so you’ll NEVER pay this tax at the time that you purchase a home or other investment property.

3) You’ll NEVER pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.

4) If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will NOT pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.

5) The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents after expenses).

6) The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed.

7) In any particular year, if you have NO income from capital gains, rents, interest or dividends, you’ll NEVER pay this tax, even if you have millions of dollars of other types of income.

8) The formula that determines the amount of 3.8% tax due will ALWAYS protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would NEVER be imposed on more than $1000.

9) It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. BUT: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities.

10) The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.