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Options exist to help you avoid foreclosure-including counseling, refinancing, and short sales. Purchasers of foreclosures should be aware that such homes, despite their reputation, are rarely big bargains or easy money-makers, and can be very difficult to buy.

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Real Estate Trivia
Welcome > Resources > Trivia ...

Enjoy! 

We've added these real estate trivia questions for your enjoyment. And you might learn something new in the process! Have fun... 


Q 

Originally incorporated under the name Georgiana, what is the oldest incorporated city in the United States?

A  York, Maine, which received an English charter in March 1642, is the oldest incorporated city in the U.S.

Q 

What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?

A  One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million.

Q 

Who is "Fannie Mae" and why is she a big name in real estate?

A  "Fannie Mae" is the real estate industry nickname for FNMA, or Federal National Mortgage Association, the stockholder-owned corporation that purchases mortgages from mortgage lenders.

Q 

What five basic components of a "smart home" can be controlled by technology?

A  Lighting and window treatments, security and access control, data communication, environmental/energy management, and audio/video entertainment can all be operated by a "smart home".

Q 


A 

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Real Estate Tips
Buying Land and New Construction >Buying Property to Build

The ideal piece of land cannot be purchased without due diligence. Say you notice a lot for sale in a suburban area that looks like a perfect place to build your dream home. Buying undeveloped land can provide an opportunity to build a house that will meet your needs, but you will need certain information before you sign on the dotted line.

Most suburban areas have zoning regulations which govern the type of structure that can be erected, the dimensions, and even the material used on the exterior. Historic preservation groups work with builders in many areas to ensure that any new construction fits in with the existing buildings. If you want to build out of the city limits, check the availability of public utility services and the cost of bringing those services to the site. Local planning and zoning boards can provide you with information about proposed development that could change your quiet country lane into a busy street.

It is a good idea to consult an architect and a zoning expert to confirm that your vision will work on the property you have selected.

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The Jeanne Walters Team, REALTOR®, real estate agent and broker for Bloomington, Spencer and Indiana University, Indiana home listings, property and land for sale - NUMBER1EXPERT

The Jeanne Walters Team
Jeanne Walters Real Estate

107 E 6th Street
Bloomington, IN 47408
Tel: (812) 331-8951
Fax: (812) 331-7532
Toll Free : (866) 877-6677
Email: info@JeanneWalters.com

We truly love our work and we value the opportunity to play a part in our clients' important decisions. With our years of experience, specialized training, and earned designations, we are poised to help you navigate the ever-changing world of real estate. We'd love the opportunity to know you better!

GRI CRS ABR SRES wcr Equal Housing MLS REALTOR


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