brown county homes guide april-may 2010

Brown County Democrat

Brown County

HomesGuid

e

FreeApril - May 2010

Area Appraisal Services ................................... 9Austin Insurance ............................................... 6Brown County DemocratSubscription Information ................................ 21Brown County Homes Guide Online .............. 16Century21/Breeden Realtors -Roberts & Dell .................................................. 15Century21/Breeden Realtors - Arterburn ..... 14Carpenter Realtors - Tom Vornholt .................. 8Coldwell Banker, Collie Rees .............................Chief Realty ...................................................... 11Evergreen Real Estate and Auction Services ............................................... 8FC Tucker-Diane Welch-Ridinger ..................... 4FC Tucker-Susan Graves ................................ 16Hills O' Brown Realty, Inc. ......................... 12-13Hills O' Brown Realty, Inc.Phil Shively Team .............................................. 3Jane Gore Realty ............................................... 5Mike Nickels Log Homes .................................. 2Mike Nickels Group ........................................... 9RE/MAX Team .................................................... 7Rogers Real Estate .......................................... 14South Central Appraisal Associates .............. 16Sweetwater Realty ............................................. 9The Peoples State Bank .................................. 24United Country Coffey Realty & Auction .................................. 10United/Ritter Realty ......................................... 10

FeaturesReal Estate InvestmentsDepend on host of Variables .......................... 17Manageable Means toRestoring a Credit Rating ............................... 18Around the County Photos ............................. 20Maps ............................................................ 22-23

Brown County Brown County Homes GuideHomes Guide

2 Brown County Homes Guide April - May 2010

31 North Jefferson St.Nashville, IN 47448

812-988-7758Open Every Day

Bean Blossom Rd. • Nashville, INBean Blossom Rd. • Nashville, IN812-988-7232812-988-7232

THE FARMHOUSE CAFETHE FARMHOUSE CAFE812-988-2004812-988-2004 • • OPEN SPRING TIL FROSTOPEN SPRING TIL FROST

Designing and BuildingFine Log Homesin Brown County

3497 N. CLAY LICK RD.NASHVILLE, IN 47448

812-988-2689

The Garden CabinThe Kelly Reed CabinThe Antique CabinCabin in the Pines

Call for Reservations812-988-2689

31 North Jefferson St.Nashville, IN 47448

812-988-7758Open Every Day

Designing and Building Fine Log Homes in

Brown County

3497 N. CLAY LICK RD.NASHVILLE, IN 47448

812-988-2689

Brown County Homes Guide April - May 2010 3

PHIL SHIVELYPHIL SHIVELYManaging BrokerManaging Broker988-1816 Home

DELORES PERCIFIELDDELORES PERCIFIELDBroker Assoc./Team MarketingBroker Assoc./Team Marketing

988-2227

KIM BRADYKIM BRADYBroker AssociateBroker Associate812-371-9761 Cell

158 N. JEFFERSON ST • NASHVILLE, IN • 812.988.2227 OFFICE • www.philshivelyteam.com

The

TEAMPhil Shively

In 2009, the Phil Shively Team helped more Brown County owners sell their property and more people buy their Brown County

dream than any other REALTOR®.

In 2010, choose the Phil Shively Team.

LOG CABIN/7 AC & SHARED POND

$139,900 #2853600

RUSTIC HOME ON 4 ACS

$110,000 #21001508

FULL BASEMENT, 3.4 AC W/POND$89,900 #2933707

OUTDOOR LOVERS! 11.956 AC

$94,500 #2745995

3BR/2BAVALLEY VIEW/5 AC

$126,000 #2912720

5 AC ON POSSUM TROT, 3 BR/2 BA

$107,500 #2953822

ADORABLE CABIN NEAR TOWN

$89,900 #2927513

SOUTHERN COMFORTMOTIVATED

$275,000 #2834981

BEAUTY OFANTIQUE LOGS

$294,900 #2935298

3 BR/3 BA, HORSE BARN & HUGE GARAGE

$330,000 #2950205

TOWN HILL, IN-LAW APT, 3 AC$265,000 #2951311

REMARKABLE 16 ACS HNF - STORY

$175,000 #2954915

3 BR-2ND GARAGE9.9 ACS, PASTURE$224,900 #2950418

SALT CREEK GOLF RETREAT

$159,900 #2857326

3 BR/2.5 BA, APT, POND, 5 ACS

$249,900 #21009490

LOTSPINE TREE HILLS

Close to Town. Lakeview lot, city util. $54,900 #2348273

ACCESS TO RECREATIONAL LAKEGreenbriar Lake. - $2,500 #2638760

2 - 5 ACRES2.75 AC

Mostly level, wooded, soil analysis, water avail.

$19,500 #29515222.23 AC

Morrison Road, very pretty woods, surveyed, soil analysis.

$29,900 #2944206PRICE REDUCTION - 2 ACS/ PLUM CREEKWater avail., nice building spot, valley.

$21,500 #2937546TURNING TREE

3.58 AC, only 1.5 miles north of Nashville.

$79,900 #2926987

5 - 10 ACRES5 ACRE

5 ac in Northern BC, C&R, soil analysis. $34,500 #2951623

WOODED 5 AC W/PONDBuild on the edge of Town. C&R.

$43,500 #2735936

10 - 20 ACRES11.377 AC

Woods, valley, bldg spot. $48,500 #2951509

HOOSIER NAT’L FORESTWooded 10 AC on little-traveled co rd.

$85,000 #2934599ATV - 14.53 AC - HIGH RIDGE TOP

W/Expanse of Salt Creek along the bottom ground.$47,500 #2916398

15.65 ACOpen fields adjoin Salt Creek & Deer Run Park.

$132,500 #2929636OUTDOOR LOVERS!

Ride, hunt, 11.956 AC, adj. Hoosier Nat’l. $94,500 #2745995

20 - 50 ACRES20 ACRES

BORDERS BC STATE PARK NEAR “F” HORSE TRAIL.

$79,500 #2100214321.73 AC

Northern location. Plenty of woods. $88,500 #2951516

CHOICE OF BUILDING SITES41.91 AC, potential lake site.

$175,000 #2951499MEADOWS/CREEKS/WOODS

Near Hoosier Nat’l Forest/B.C. St. Park. $274,850 47.8 acres m/l #2831044

OAK GROVE - 36.5 ACSQuiet valley, open ground, wooded hillside.

$158,000 #2752758

50 ACRES PLUSNEW LISTING

210.63 ACs, Open ground & woods, lake, ponds, road frontage. $895,000 #21004156

101 AC - SECLUDEDHiking/biking/ATV trails for hunters or

outdoorists.$295,000 #2951209

60 AC, FRONTAGE ON 2 COUNTY ROADSMultiple bldg sites. $265,000 #2951371

SECLUSION PERSONIFIED56 AC secluded woods, creeks,

open & wooded.$189,000 #2743038

75 AC ON 135 SOUTHJust 5 minutes south of SR46E along

SR135S - bldg & lake sites, ridges, valleys.

$577,500 #2909463200 AC

Your private park between Stonehead & Story.

$845,000 #2906611

70 BREATH-TAKING AC

$359,000 #2912699

LAKEFRONT LAKE LEMON, DOCK, 3 BR

$548,000 #2959182

SECLUDED LOG, 3BR/3.5 BA, FRPL$345,000 #2929156

TOURIST RENTALS

ADJOINS STATE PARK$344,000 #2752800

THE ULTIMATE VACATION LODGE$1,350,000 #2823721

MAJOR PRICE REDUCTION

3 BR/2 BA ENERGY EFFICIENT - 6.65 ACS$159,900 #2766721 - 6.62 AC

ARTIST DRIVE3 BR/2 BA

$158,000 #21010204

LAKE FRONT$85,000 #2853067

PRICE REDUCTION

PRICE REDUCTION


JaneJaneGore RealtyGore Realty

“Personalized Not Franchised”812-988-6512

91 West Gould StreetP. O. Box 9,

Nashville, IN 47448Fax: 988-8812

Email:[email protected]

web site:www.janegorerealty.com

Serving Brown County Since 1982

Jane Gore, Principal Broker 812-325-5419

Karen Smith, Sales Associate 812-369-0486

Tracy Bock, Broker Associate812-350-4428

Wayne Flesher, Broker Associate 812-327-2735

ACREAGE AND LOTS

BEAUTIFUL 3 BR3 BA home, spacious rooms, mas-sive stone FP, master BR suite, quiet neighborhood near Salt Creek Golf Retreat. $183,815 #2904060

POSSIBLE IMPROVEMENTallowance-3 BR, 1.5 BA home on 2 acres, living room and large family room converted from 2 car garage, FP, new roof. $125,000 #2855756

NICE 2 BR HOMEw/large rooms, stone FP, closet laun-dry room, portable A/C unit, nice deck overlooking the valley below, sellers are ready to sell. $90,000 #2842818.

GAMBREL STYLE HOME2 BR on nearly 20 acres, horse barn w/mostly fenced pasture, detached garage, hilly & rolling land, southern Brown County. $219,900 #2953918.

LARGE 1 BEDROOMlog home in tip-top shape w/a 349 degree view, high on a hill in southern Brown County, porches, detached garage, pole barn. $199,900 #2953398.

TOURIST HOMEzoning, beautiful 2 BR, 1.5 BA log cabin on 23.74+/- acres w/a view for miles, stone FP, HW floors through-out, hot tub and more. $275,000 #2960484.

3 BEDROOM, 2 BATHROOMmanufactured home on 1 acre, backs up to Lake Monroe property 1 mile from the boat ramp, great weekender for the price. $80,000 #2956943

TWO FOR ONE PRICE Equidistance from Nash-ville or Columbus these are wooded lots w/ a choice of building sites, long road frontage, total price $60,000 #282996311.98+/- acres, in southern Brown County, spectacular lake and a multiple choice of building sites, partial road-way is in. $79,000 #294824

7.25+/- acres, build your dream home, long road frontage on Gatesville Rd, $49,500. #2829963

18+/- acres of gently rolling wooded ground w/lots of fl at land and a choice of building

REDUCED $70,000. HOME FACING

FORECLOSURE. 3 BR home on beauti-ful acreage, hardwood floors, efficient kitchen, Jacuzzi tub, gas log FP, 2 utility sheds. $95,000 #2951240

ABSOLUTELY MAGNIFICENT4 BR, 2 BA log/frame home on almost 2 acres in great area close to town, wrap around covered porch. A real must see to believe! $340,000 #21013956

sites. $90,000 #2960502

10.01+/- acres w/a good fl at building site a reason-able distance from the road w/wooded hillside to rear of property. $60,000 #21011812

14+/- acres of gently slop-ping ground w/a lake site at the foot of the slope, build w/a view of distant ridges. $70,000 #2960433

11+/- acres on Deckard Ridge Rd, walking distance to where the road ends at Lake Monroe. $43,900 #21014219

2 BEDROOM, 2 BATHROOM

manufactured home on full basement, ½ is liv-ing area, ½ is 2 car garage, a porch and a deck & full rights to beautiful Woodland Lake. $124,000. #2954572.


Trina UngerCorporate ManagerProperty Manager

Brenda LongtinLicensed Broker

CSSS, CDPR

Marg DeGlandonBroker/OwnerCSSS, CDPR

Leigh Ann BrownProperty Mngmt Assistant

to Marg/Brenda

(21009175) $379,900

MAGNOLIA HOUSE

BED & BREAKFAST

(2925017) $196,900HIDDEN IN THE WOODS

BROWN COUNTY ACREAGE

(2836754) 2 AC $84,9003BR W/VIEW

(2922374) 1 AC $119,900PRICE REDUCED

(2948898) 8+ AC $175,900RUSTIC & PRIVATE

(2929800) $109,900WATERFRONT

(21013800) 4+ AC $349,900NEW LISTING

(2944918) 15+ AC $462,900HORSE PROPERTY

(2944916) $237,900AMISH BUILT CHALET

RUSTIC FARMHOUSE

(2906407) $79,900Home & 5 Acres

(2924882) REDUCED $110,000Home & 10AC w/Pond

(2924897)) REDUCED $130,000Home & 15AC w/Pond

(21010818) 5 AC $344,900NEW LISTING

(21002954) 3+ AC $229,900PENDING

(21004219) 2+ AC $236,900PRICELESS VIEW

Top Rated Tourist Home Business in Brown County has 4 tourist home units left, w/ various sq. ft, acreage, location, amenities, furnishings, appliances & other personal property. Includes bookings & booking system, client list, misc. equipment, web site, book of business, vehicles, & management of 4 additional homes. Seller will train buyer or consider managing. Substantial income w/high occupancy avg's & repeat business. Well maintained properties.

The Farm(2700633) $429,900

Heartstone(2700670) $399,900

MOONDANCEVACATION HOMES& MANAGEMENT

BUSINESS(2700866) $1,400,000

Sweet Spot (2569010) $149,900

Loretta’s Cabin(2926942) $399,900

(2949044) 12+ AC $439,900UNIQUE LOG HOME

(21002724) $139,000SALT CREEK GOLF COURSE

(2956228) 6 AC $249,900TWO MASTER SUITES

(2937472) $119,900ROOM TO GROW

(2954198) 82+ AC $449,900 (21003197) 64 AC $359,900

INCLUDES GUEST COTTAGE - BORDERS YELLOWWOOD

Tract # 3–5.04 Ac $114,900

SOLITUDE ESTATESNew gated community development located on

Owl Creek Rd. These building sites are a rare fi nd offering seclusion for prestige homes, year round

views and more.

Tract # 4–5.72 Ac $138,900

Tract # 5–5.72 Ac $114,900

Tract # 6–6.42 Ac $119,900

Tract # 7–6.61 Ac $119,900

JACKSON BRANCH RD.(2820638) 8.89 Acres $94,900

6572 NICOLE DR.(2765127) 2.25 Acres $26,900

STATE RD. 135 NORTH(2530138) 1.80 Acres $24,900

COMMERCIAL - CHESTNUT ST.(2769088) 3.51 Acres $484,776

COMMERCIAL - E. WILLOW ST.(2768949) .57 Acres $154,026

(2858434) $259,900ANTIQUE LOG HOME

(2812888) $124,900LAKE MONROE

(2868588) 37.58 AC $599,900(2926841) HOME & 5 AC $399,900

BROWN COUNTY RETREAT-RANCHO VALLE(2909555) $424,9003BR CUSTOM HOME

(2946476) 17+ AC $200,000

(21004663) 5+ AC $176,900NEW LISTING

(21003526) 6+ AC $149,900BUNGALOW IN THE WOODS

Tract # 9–5.49 Ac $42,900

SOLD

(2916419) $499,900TURNING TREE

(2943226) $119,900GREAT STARTER HOME!

(21000611) 8+ AC $180,900CIRCULAR FLOOR PLAN

(2957783) 21+ AC $329,900BEAUTIFUL 3BR, 2.5 BA

(2668925) $199,900

COMMERCIAL

CHURCH


2370 Greasy Creek - $375,9003243 Quailwood Run - $360,000

Lamb Lake - $380,000 3719 Peoga Road - $149,9000 1283 Hornettown - $34,900

00 Bittersweet Lake - $49,900Brown County History - $299,900

Real

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REAL ESTATE AUCTIONS

PERSONAL PROPERTY AUCTIONSESTATE & DOWNSIZING SERVICES

Ronita Walcott

Broker OwnerCall: 812-327-6201email: rwalcott@homefi nder.org

Brian Sample

IN Licensed Auctioneer 19900081Call: 812-327-8273

email: bsample@homefi nder.org

Residential•Land & Farm•Commercial

Representing Buyers & Sellers for Residential, Farm & Land, Commercial, Estates and Trusts, Contentious Sales, REO & Foreclosure, what ever your needs are we have a solution...Our experience and multiple options allow us to provide

Real Estate services that work best for you.

No one in the area provides a more comprehensive approach to the business. With our knowledgeable experience, we

consistently make the daunting task of downsizing, transition to assisted living, or dealing with an estate a simple and methodi-cal project. We have conducted multiple six-fi gure sales and handled very complex multi-auction estates and downsizing projects. We also regularly do small pick-ups and clean-outs for assisted living apartments consisting of 25 items or less.


6420 Nuthatch Drive View Sweet-water Lake from the gigantic deck of this newly remodeled bungalow. 2 levels, 2 living areas, new kitchen with stainless appliances, 2 fi replaces, immediate possession. $139,900.

7102 Lion Drive - Sweetwater Lake walk-out location. 2 level ranch with panoramic views. 2 bedroom, great room, kitchen, fi replace, plus a full walkout basement. $290,000.

Enjoy beautiful Sweetwater Lake from this completely updated 3,200 sq.ft. 2 level home. Hardwood fl oors, oak kitchen, formal dining room, massive master suite, dual fi replaces, and more!$375,000

6461 Quail Drive - Multi lot loca-tion on Sweetwater Lake. 3 bedroom single level ranch with 2 living areas, oak galley kitchen, fi replace, and huge garage w/workshop. $225,000.

7108 Lion Drive - Rustic log cabin - great room concept with sleeping dorm. Extra buildable lot offers 120’ water-front on Sweetwater Lake. $185,000

SWEETWATER REALTY8734 Nineveh RoadNineveh, Indiana 46164Open 7 days a week Call for a free color map & information.

. 317-878-4100

8170 Elm Drive County Estate - 2.9 acres with shared swimming pond plus lake rights to Cordry Sweetwater Lakes. 2 level ranch with 4 seasons room overlooking woods. 2 car over-sized workshop/garage. Owner says bring offer!

OFFERINGOFFERINGNewNew

ConstructionConstruction••

AssortedAssorted Log StylesLog Styles

&&Timber FramesTimber Frames

••Log CabinLog Cabin

RepairsRepairs••

ChinkingChinking&&

Chinking RepairsChinking Repairs••

CabinCabin InspectionsInspections

Mike Nickels Log Homes3497 N. Clay Lick Road

Nashville, IN 47448

812•988•2689HONESTY • INTEGRITY

HANDCRAFTED QUALITY

Appraisals for morgage lending, tax assessment, divorce, estates, marketing and independent

Designated & Certifi ed Residential AppraiserServing: Brown, Monroe and Morgan Counties

Offi ce: 812-988-6424 Fax: 812-988-4924

P.O. Box 472 Nashville, IN 47448E-Mail: [email protected]

Linda S Bauer, SRALinda S Bauer, SRA


Chief RealtyDonna Walker • Broker John Walker • Associate

Stephanie Walker • Associate

812-597-5755 • 888-313-9079www.chiefrealty.com

E. St. Rd. 135 (next to Dollar General)

119 E WASHINGTON ST. • MORGANTOWN Historic brick home w/beautiful wd. Flrs, lot of updating has been done. Original built-ins, 2 or possibly 3 bdrms., 1 ½ ba, 2 car gar., good location, Indian Creek Schools.$109,900.

7197 S. CENTERLINE ROAD • NINEVEHLIKE NEW. 3 BR/2 BA, brick exterior, one level home on 2 acres in Indian Creek School system. Large Great Room with cathedral ceil-ing. Split BR plan with large Master Bedroom. Maintenance free exterior. $164,900

LAND FOR SALE

9769 N. LICK CREEK RD. • BROWN COUNTY3 bdrms., 2 ba., homes on 5.35 acres near Morgantown. 1737 sq. ft., rear deck over-looking woods, covered front porch. Great kt. w/lots of cabinets and appliances stay. Move-in condition. $117,000.

7209 E. MAHALASVILLE RD. • MORGANTOWN32 beautiful acres w/3 Bdrms., 2 BA, rustic home plus 28x28 log cabin/shop, own cov-ered bridge over creek through property, 24x30 pole barn/shop, gazebo, 2 ponds. Acreage is wooded w/ 11 ac. in crops. Not visible from rd. I.C. Schools. $550,000.

30 40 S MARION ST. • MORGANTOWNPrime business location with high visibility at Intersection of St. Rd. 135 & St. Rd. 252. 7700 sq. ft., 2 story commercial building plus 1236 sq. ft. house to the west that is mixed zoning. In need of some repairs but priced below most recent appraisal. Lots of potential. $185,000.

2627 S 515 W • TRAFALGARImpressive ranch-style home on 2 acres in Johnson Co., Union Twp., Franklin Schools. 3 bdrms, 2 full baths, lrg covered porch, new hrdw, flrs, includes appliances. 1456 sq. ft. $129,700

8220 S HALL DR. • NINEVEH2 bdrm., lakefront home, Princes Lakes, Johnson Co., Indian Creek Sch., sold as-is, approved or cash buyers only. $32,500.

Building Lot - Hickman Estates, Morgantown $15,90010 ac. wooded, Morgan Co., Indian Creek Schools, easy access to St. Rd. 44 and Morgan-town. $80,000 1.563 ac. building lot, all utilities available. Indian Creek Schools. $55,0001.01 ac. building lot, all utilities available. Indian Creek Schools. $29,900

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45 ac., Johnson Co. front on St. Rd. 135 nearTrafalgar, $900,600Co. Rd. 100 S/ St. Rd. 135, 5.39 ac., Franklin Sch., $54,900St. John Commons, Morgan Co., I.C. Schs., near Johnson Co. line. Building tracts from 0.9 ac. to 2.4 ac., some lakefront, wooded, municipal water avalaible. $29,000 - $59,90012.8 ac., Johnson Co., IC Sch., Co Rd. 575 W,

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Possible Contract, $69,9000 E Oakwood Ln. Morgantown, Morgan Co., 5.55 ac., pond, wooded, IC Sch. $60,000Building lot in Morgantown. Mixed zoning.Commercial or residential. $37,00090 ac., Johnson Co., 450W, woods & pasture. $612,000

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109 BAILEY LN. • BROWN COUNTYBank-owned property sold as-is. 2 bdrm. home in need of repairs. Newer 2 car attached garage with breezeway in good condition. On dead-end road with easy access to St. Rd. 135 between Morgantown and Beanblossom. Approved buyers or cash only.

496 S 400 W - BARGERSVILLE Like new, 3 bdrm, 2 bath, 1 level, brick exterior home on 7.23 acres. 3660 sq. ft. including basement. Pole barn. Johnson Co., Franklin Schools. $314,900

PENDING

PENDING


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Beautiful custom home on 1.3 wooded acres in small upscale subdivision just outside Nashville off Hwy 46 and Town Hill Road, built with careful and talented attention to design and detail. Master suite is on

the main level. Two other bedrooms and large den upstairs. Two full baths, both with whirlpool tubs and separate showers. Kitchen has granite countertops, higher quality appliances, and a large walk-in pantry. Open

fl oor plan features a stone fi replace, hardwood fl oors, vaulted ceilings, and attached garage. The wide front porch and large rear deck offer wonderful outdoor living spaces surrounded by scenic views of nature. A walk-out lower

level with high ceilings is unfi nished but nicely painted, currently used as a painting studio. Note: Most of the Old Hickory furnishings may be purchased separately as a package. Located in Brown County close to the wonderful charm of Nashville

and only 20 minutes from Bloomington or Columbus. With the happy combination of privacy and convenience, this great house would make a lovely permanent or vacation home. Call Carolyn at 812-320-2200 to see this home soon!

Open houses Saturday May 1st and Sunday June 6th 1-4 p.m.

Bloomington MLS 20090689Indianapolis MLS 21004898

Directions: Hwy 46 to Town Hill Road, turn right onto Hilltop Lane, house on left, has Rogers Real Estate sign in front.

Priced at $359,000

167 Hilltop Lane

5460 ChristiansburgRoad

$775,900$775,900

17.45 Picturesque Acres w/10 Stall Horse Barn, Tack Room, Offi ce & Open Ring • All Brick Custom Home • 2 Sided Fireplace • 3 Bedrooms, 2.5 Baths • Walk-out Lower Level w/Family Room • Offi ce w/Full

Kitchen in Lower Level • Caretaker Home, Stocked Pond • Gated Entrance • And So Much More!

Let The Power of TWO Work for YOU!Bob and Sandy Arterburn

812-378-7952 812-378-1729"Get Sold On Us"

[email protected]

DRASTIC PRICE REDUCTION!!!DRASTIC PRICE REDUCTION!!!


Peggy DellCell: 812-350-2815

[email protected]

2072 Harrison Ridge RoadBrown County

$172,000 MLS#20901789

Lovely hilltop setting with 3.6 acres close toColumbus & Nashville. 3-4 bedrooms, 3 full baths,

approx. 2016 sq. ft., crawl space, den, family room, appliances & 2.5+ detached garage w/heat.

Up to $3,000 Closing Cost Allowance VERY WELL MAINTAINED...A MUST SEE!!

Dave & Bev

Roberts TeamOffi ce: 812-378-1715Cell: [email protected]

"Our Experience Is Your Advantage"

700 Washington St.Columbus, IN 47201

800-844-3766www.C21Breeden.com

Acreage & Building Lots 1 Hoover Road2.5 Acres $34,900

2 Hoover Road5 Acres $49,900

412 Wells Drive $159,900 E on Main St., L on Artist Dr., R on Wells • Appliances Included • Several Recent Updates • Home Warranty • 3 Bedrooms, 1.5 Baths • Large Family and Living Rooms

551 Town Hill Road $349,900 SR 46, L on Cloudcrest, L on Town Hill Rd., L on Town Hill E • Large Kitchen • Master Suite on Main Level • Walkout Basement • Large Deck w/Electric Awnings • 3 Bedrooms, 2 Baths

NEWPRICE

NEW PRICE

BCDemocrat.comBCDemocrat.com

Be sure to check us out online too! Brown County Homes Guide is

downloadable for FREE!FREE!

DON’T BE LEFT OUT, ADVERTISE TODAY!Deadline for inclusion in the next

issue of the Homes guide is May 11.

See it sold in theSee it sold in the Brown County Homes Guide.Brown County Homes Guide.


[email protected]

153 E. Gould StreetP.O. Box 122Nashville, IN 47448

Phone 812-988-6316800-659-6737

Fax 812-988-7643

Serving the following Counties:Brown Morgan Monroe Johnson Bartholomew. . . .

Certifi ed Residential Appraiser

APPRAISAL ASSOCIATES

Buddy Greller

South Central

"For Sale" signs have be-come one of the more common sights in neigh-

borhoods across the country over the last year. As the economy strug-gled, many homeowners found themselves facing foreclosure or looking to sell homes they could no longer afford. Some people, however, have taken advantage of the sagging real estate market and chosen to buy low, with the idea that the proper-ty value will be restored once the economy is restored. While that's a sound investment strategy, there's more to consider when investing in real estate in the current economy, especially for those who are new to the real estate investment game.

What is the Area Like Now and What Will It Be Like Years From Now? Many neighborhoods have undergone an overhaul in recent years, and where investors choose to invest their real estate dollars is a major consideration. A change in neighborhood can make or break a property, which can make or break an investor. Consider the following scenario: an investor purchases a home with the intention of renting it out. With maintenance and prop-erty taxes, that investor won't reap any immediate fi nancial benefi ts.This shouldn't come as a surprise, as the home and property's value rests in its re-sale value down the road. This is where forecasting a neighborhood's future comes into play. Because of the sagging econ-omy, many areas are becoming less attractive. When layoffs occur and

industry leaves town, the surround-ing communities become less at-tractive to prospective homeown-ers, as people tend to live where the work is. Investing in real estate in a community that has suffered heavy layoffs or declining industry is probably a bad investment, as there's no guarantee industry will ever return, and therefore the prop-

erty will be hard to sell and likely lose signifi cant value. When investing in real estate, in-vestors should keep in mind they're also investing in the community. If a community's industry is sagging, it's probably best to avoid real es-tate in that community, regardless of how good a deal can be had on a given property.

Can I Get Tenants? This economy has also made things more diffi cult on the nation's landlords. That's because fi nding reliable tenants is no small task in an economy where so many people are living under the specter of lay-offs. Purchasing real estate as an in-vestment is essentially a partnership

wherein the partners are a big un-known. Those partners are tenants, who have become harder to fi nd in an economy where many people are losing their jobs. Even the nation's younger workers, who often make up the majority of renters, have in-creasingly turned to their parents for housing in an economic climate in which they are often the fi rst to

Real Estate Investments Depend on Host of VariablesMetro Creative Services

Investments continued on page 18Brown County Homes Guide April - May 2010 17

With more homes on the market, many have turned to investing in real estate, a risky venture that requires careful consideration of many variables.

be victimized by layoffs. That said, investors hoping to rent out a property should be cer-tain they'll be able to do just that. Before purchasing a property, speak with local real estate agents who specialize in placing renters with apartments. Ask them about the real estate market, particularly how local landlords are doing in light of the country's economic woes and whether or not rents have increased, decreased or remained steady since the economy took a turn for the worse.

Investments continued from page 17

As the economy begins to re-bound, so, too, are many of the individuals who were

negatively affected by its decline. Be it because of layoffs or invest-ments that steeply declined in val-ue, many people across the country took signifi cant fi nancial hits in 2009.

What Are the Interest Rates?Real estate investments aren't just about property value and location. Interest rates should also play a strong role in a person's decision to invest in real estate or not. Low-rate mortgages might be too good to be true, as many victims of foreclosure found out in the last couple of years. Interest rates fl uc-tuate, and anyone investing in real estate needs to be prepared. For ex-ample, if you borrowed $100,000 on an interest-only 4-percent loan, you'll pay $4,000 per year. With an adjustable-rate mortgage, how-ever, your interest rate might climb

to 10 percent, meaning you're now on the hook for $10,000 per year. That's an additional $6,000 per year you might not have planned on spending. Many real estate in-vestors found it diffi cult to scratch together that extra interest, as it's nearly impossible to pass it on to tenants, especially in an economy in which reliable tenants are a valu-able commodity. While real estate is often looked at as a high reward investment, for those considering making the in-vestment, let it be known it's also high-risk, one that requires deep pockets to begin with. ❖

As the calendar gets set to turn into a new year, lots of people are seeking ways to better manage their fi nancial affairs in the hopes they'll be more prepared should another

recession rear its ugly head in the future. One of the best ways to prepare is to man-age credit properly, which can be done in a number of ways.

* Know why your rating is go-ing up or down. Many people are aware they have a credit score, they just aren't aware what that score is or how it's determined. Credit bureaus such as Experian and Equifax can provide indi-viduals with their credit score, but that's only half the process. The other half is why that score is

what it is. The two most infl uential factors in a credit score are an indi-

vidual's pay-ment his-tory and how much of their a v a i l a b l e credit that i n d i v i d u a l uses. Paying on time is argu-ably the most

important part of achieving and maintaining a good credit score. A single missed payment can have a longterm negative impact on an individual's credit score. Individu-als can set up automatic payments so they never forget to pay a bill. Even a momentary bout of forget-fulness will not matter when miss-ing a payment. All that will show up on the credit report is a missed payment, not the reasons for it, no matter how valid or innocent those

Manageable Means to Restoring a Credit RatingMetro Creative Services

Credit continued on page 19

Even a momentary bout of forgetfulness will not matter when missing a payment.


reasons are. How much of an individual's available credit is being used also has a strong impact on that person's credit score. In general, it's best to keep credit use to less than 30 per-cent of available credit, and many fi nancial advisors actually suggest keeping it closer to 10 percent. An individual should never "max out" a credit card unless that individual is certain he or she can pay the bal-ance in full by the time the next bill is due. Establishing a 10 percent threshold can allow individuals to avoid the massive credit debts

many before them have suffered through.

* Consider a secured credit card. Secured credit cars require careful and meticulous research on the bor-rower's part, but can be an effective means of restoring a credit rating for those with a bad or even mini-mal credit history. A secured credit card requires the borrower to de-posit money with a lender, and the credit limit is typically the amount of money deposited. Be careful, however, as certain secured lenders have hidden fees and interest rates

that can be quite large. Those who are already a member or eligible for membership in a credit union should look into a secured cred-it card from their union, as credit unions are typically t r u s t w o r -thy sources for secured cards.

* Think out-side the card. A credit rat-ing isn't en-tirely based on how an in-dividual han-dles his or her credit card p a y m e n t s . Installment loans, if paid on time, can be a boon to an individu-al's credit rat-ing. Install-ment loans can include

Credit continued from page 18

auto loans, personal loans or even mortgages. Those with relatively short credit histories might fi nd it diffi cult to secure an installment loan, especially one with a good interest rate. However, individuals who have had credit for a year or so and have made their payments on time while carrying a responsible balance might want to consider ap-plying for an installment loan in the future. Demonstrating an ability to make loan payments on a monthly basis can only provide a signifi cant boost to a credit rating, helping in-dividuals secure bigger loans, such as a mortgage, down the road.

* Ask for help. While it might seem as though a co-signer would not be ideal for someone hoping to boost their credit rating, it actually will, so long as the individual makes the payments on time and pays off the loan responsibly. Parents often co-sign loans for their children, allow-ing children to use their high credit rating as a stepping stone to estab-lish their own credit history. How-ever, borrowers must realize that missing a payment on a loan that has a co-signer negatively impacts the co-signer's credit score as well as their own. That reality empha-sizes the importance of paying on time and, for the co-signer, mak-ing a wise decision as for whom it is they're willing to co-sign a loan for.

* Open a bank account. Lenders want to see stability before hand-ing out credit. That's especially true in the current economy, when lend-ers who made irresponsible loans to unqualifi ed borrowers either ended up out of business or in need of a bailout. Individuals hoping to restore a credit rating or build a credit history should open a check-ing and savings account as a means of illustrating to lenders that they are stable and worthy of the trust and responsibility that comes with credit. ❖Brown County Homes Guide April - May 2010 19


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