Great article on MSN this morning about the things we see when showing homes!  Click here to read the full article…

so it must be true, right?  Visit my website for info on the Indianapolis Real Estate market!

As Housing Market Strengthens, Prices Rise at Lower End

The housing market continues to gather strength, according to new data released Tuesday, and in a particularly encouraging sign, the price gains appear to be spreading to the lower end of the market in many cities…click here to read the rest of the article…

A trip to visit the family in Madison, Indiana this weekend was a bit adventurous and a bit nostalgic.  First…congrats to my niece Ashley for her team win on the soccer field Saturday.  Spent the afternoon visiting my Grandmother at the nursing home…she will be 98 in November!  I really enjoyed the visit although her mind isn’t good, she did know who I was.  After the visit and a trip to DQ with my folks (we used to do that all the time as a treat when I was a kid!), Dad was taking the motorcycle to check on my grandparents farm so I decided to ride along…been a while since I’ve been on the back of a bike and it was so exhilarating!

As I wandered around the house, memories assailed me and I found myself in tears, much to my surprise!  My grandfather passed away 6 years ago and until December last year, my grandmother continued to live on the farm, nothing has been removed from the house, it still feels like they are both there.  So many memories of my childhood, I spent a lot of time, especially in the summer months, with them, as the oldest of 4, it was my place to be the only one.  I learned how to cook in the kitchen, peeled peaches and apples for pies to freeze so that we could enjoy them during the winter, picked corn from the garden to freeze and learned to can, although I can’t remember much of that now…only the story of the exploding canned beets coating the kitchen, right after we had done the “summer clean”…which meant we had to do it all over again.

I loved spending the summer months there, even though they didn’t have air conditioning…we spent a lot of evenings on the porch, because they are so close to the Ohio River, we could hear the music from bars in Carrollton, KY and during the Aurora Borealis wow!  Enough meandering down memory lane, the tears may start again…,

I attended The Jackie Look – film & conversation at IMA on September 13 and WOW!  Great crowd, the TOBY was nearly full and a large contingent of them were dressed in their best pillbox hats and pearls…a sight to behold – fantastic!  The IMA routinely hosts special – FREE – events , I encourage everyone to check these out and support the wonderful events offered in our great city!

Also admire the style of Diana, Princess of Wales?  Take a short trip to Louisville and visit The Fraizer Museum and visit:

Diana: A Celebration

September 15, 2012 through January 13, 2013

Rarely is an exhibition as remarkable as the life behind it.

Experience the life and humanitarian work of one of the most remarkable women of the 20th Century, Diana, Princess of Wales. Direct from England, experience nine galleries with over 150 objects, including Diana’s royal wedding gown, 28 designer dresses, family heirlooms, personal mementoes, diamond tiaras, priceless jewels and rare home movies.

I am definitely going to this!

Selling or buying?  Home prices continue to post the strongest growth in 6 years!  Thinking of buying, now is the time, interest rates are low and prices are going up!  Thinking of selling?  Let’s take a look at your numbers!  Check out this article for all the details…http://www.inman.com/news/2012/09/4/home-prices-post-strongest-growth-in-6-years

the traffic on North bound I-69!  They have a billboard saying why fight traffic when you could make a quick trip down I-74 to the Indiana Grand Casino (or is it “racino”?).  Look out Hoosier Park….

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?

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!

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.