Indianapolis Real Estate News and Information from HomeToIndy.com

Indianapolis Home Sellers - The Second-Most Popular Advice To Sell Your Home Quickly

2008-07-05T21:24:00-07:00

A well-known 'Sell Your Home Quickly' tips is to clean and de-clutter. A home with visual 'space' appears more roomy to potential buyers. Another way to create openness is with bright lighting throughout your home. This home selling tip is especially important here in Indianapolis, when we have gray days accompanied by rain. There are two simple and very inexpensive ways to brighten your home for a showing: For daytime showings, open all drapes and blinds so the maximum amount of sunlight comes into your home For evening showings, turn on every light in every room in the house A well-lit home not only brightens the mood of potential buyers, but it helps your home to make a strong first impression as well. And if you've ever felt gloomy on a rainy day, or exceptionally happy on a bright and sunny day, you understand the psychological power of light on a person's mood. So, after cleaning your home to make it showing-ready, replace your light bulbs, turn on the lights, and open the blinds. If your windows are dirty, clean them. Help prospective home buyers to see your home in a favorable 'light' and you'll be more likely to sell your home quickly. Get some ideas by searching current Indianapolis Homes for Sale. You'll clearly see the difference lighting can make when marketing your home for sale.

#1 Tip for Marketing Your Indianapolis Home to Sell

2011-12-07T14:54:00-07:00

{EAV:e70a98171270d9fc} With the surplus inventory of homes available in the average price range for most any city or town in Metro Indianapolis, how do you make your property stand out? Today's home buyer is online, checking out your home. Times have changed and very few home buyers drive around to look at homes or attend open houses. They can find much of the information they need online. Once they have the information, they will drive by neighborhoods or contact a real estate agent. The #1 request I receive from online visitors, besides scheduling showings is for more pictures. We live in a society where time is valued and people just won’t drive by your house if there are not pictures online, unless you are selling for a steal. I’m not talking about steals or bank owned homes, though. I’m specifically talking about the average priced home sold in your city or town. A home where you want to sell for top dollar. Having pictures online seems obvious, but it’s the timing of the pictures I believe makes a difference. Just as you have prepared your home for the market, your marketing must be complete - before you list your home. More precisely, before it goes in the local Indianapolis MLS. There are a quick procession of things that happen once your home is listed on the MLS. It goes on the Realtor Hot Sheet as a new listing It will be included in any new listing updates sent to buyers It will be syndicated to multiple online platforms (this is broker specific) It is a proven fact that a home attracts the most attention when it is first listed. It goes without saying, your home should be “newsworthy” when it hits the press. Did you know when your home is first listed, it will be sent to every buyer signed up on any website as a new listing, if it is in their price range and/or has the amenities they are looking for? The only other time that happens is when there is a price change, then it goes to a different set of buyers in your new price range, usually a reduced price. You’ve heard the saying, you only have one opportunity to make the best first impression and the same can be said of your home. When your home hits the market, it should be fully marketed. The pictures should be in place, any video should be created, flyers and home information in the home, postcards sent out, ads created, etc. Never put a home on the market before it’s time! I believe that is the #1 key for marketing a home to sell. Related Articles to Selling Your Home in Indianapolis: How Much Will it Cost to Sell My Home Help! - My Home Didn't Sell - Part 1 A Picture's Worth a Thousand Words When Selling Your Home

Simple Repairs to Sell Your Home Faster

2011-09-13T22:04:00-07:00

Selling a home can be tricky, particularly during a time when the market is saturated with low-cost homes. As such, it is essential to take a few steps in order to increase your chances of getting your home sold quickly and at a reasonable price. By making these five simple repairs, you can go a long way toward getting your home sold - irrespective of whether your offering Indianapolis or Montgomery County real estate. Repair #1: Repair the Floor If your home has hardwood floors, you should seriously consider removing your carpeting and getting the floors refinished. If your sub-floor is plywood, on the other hand, transforming it into a hardwood floor will be far too costly. Rather, replace the carpeting with a neutral carpet color, such as light tan. If you have any ceramic floor tiles that are chipped or cracked, these should be replaced before putting the home on the market. Repair #2: Apply Fresh Paint Applying a fresh layer of paint to your walls and ceilings can go a long way toward giving your home the facelift it needs. Before painting, be sure to repair any cracks or other damage. Also, itís best to choose a neutral color, such as light tan, when prepping a home for the market. If your walls are wallpapered, remove it and paint the walls instead. The same is true of wood paneling. While composite paneling can be pained, dated paneling should be removed. Repair #3: Update the Kitchen The kitchen is one of the most important rooms in a home when it comes to making a sale. While completely replacing cabinets can be costly, resurfacing them by attaching a thin veneer to the surface and replacing doors and hardware will give your kitchen the update it needs. Similarly, updating counters with simple laminates and installing a new faucet and sink will give your home a fresh, clean look that will be more appealing to buyers. Repair #4: Update the Bathroom Research has shown that homeowners who invest in bathroom renovations typically get back more than 100% of their investment. Simple things such as installing a new floor and upgrading fixtures and lights will help you get your home sold far more quickly. Repair #5: Fixing the Exterior Having a roof in need of repair is a huge turnoff to many buyers. Therefore, you will likely need to swallow the cost and get the job done if your roof is in need of repair. Other exterior fixes that should be addressed include resurfacing asphalt driveways, patching cracks in sidewalks, caulking windows and doors, fixing and painting fences and replacing doorknobs and locks. About The Author - Kevin Koitz is a Washington DC native and Realtor and specializes in Bethesda homes for sale.

3 Biggest Seller Mistakes and How to Avoid Them

2011-12-01T13:28:00-07:00

For some homeowners who are trying to sell their homes, the process is far more stressful and time consuming than it needs to be. No matter whether they may be offering Denver luxury condos or a starter home in Indianapolis, for those homeowners who are stressed out and having difficulty selling their homes, the troubles can be traced back to making at least one of the three biggest mistakes that home sellers make. Mistake #1: Setting the Wrong Price Perhaps the single biggest mistake that homeowners make when selling a home is setting the wrong asking price. Despite the advice they are given by their agents, some sellers choose to set a price that is much higher than the market value of the home. By doing this, the seller believes he will add more bargaining room to the price, which will allow him to reduce the price and still get a hefty payment for the house. While this may seem logical, the reality is that setting a price that is too high will do nothing but drive buyers away. Not only will the house be outside of the price range that buyers can afford, but they will also consider you to be an unreasonable or even untrustworthy seller when your price is too high. As a result, your house will sit on the market for a very long time before it ever sells. Even if you are willing to sit on your property in order to hold out for a higher price, you will be doing yourself a disservice if you go this route. This is because homes go 'stale' after sitting on the market for too long. When this happens, you will be left with no other choice but to take the home off of the market for a period of time, after which you will inevitably need to set a lower price. So, do yourself a favor and set a reasonable price from the very beginning. Mistake #2: Failing to Improve Upon the Homes Condition When searching for a home, most buyers are not interested in purchasing a home that needs to be repaired or upgraded. Therefore, it is in your best interest to make all necessary repairs and upgrades before you put your home on the market. If you don't, you may have difficulty getting the home sold and you will likely have to come way down on your price. You may even find yourself making repairs as part of your agreement with the buyer, so you can save yourself the trouble and time by taking care of these problems ahead of time. Mistake #3: Creating a Poor Marketing Plan A knowledgeable and experienced real estate agent will create a comprehensive marketing plan that will effectively reach your target market. Therefore, it is important to discuss marketing plans with potential real estate agents before you choose the one you will hire. The best agents will use a variety of different strategies, including online and offline techniques, to reach the broadest range of potential buyers. About The Author - Brian Kinkade specializes in luxury condos, including Walnut Condominiums Boulder, and is acting broker of The Home Cart based in Denver, Colorado. Related Articles About Selling Your Home: Simple Repairs to Sell Your Home Faster Help, My Home Didn't Sell - Part 4 - Price How Much Will it Cost to Sell My Home

How Much Will it Cost to Sell My Home

2009-09-20T20:52:00-07:00

What Are Your Fees? In a real estate market where home owners have less equity than ever, a reasonable question is, 'How much will it cost me to sell my home?' Many times the home owner is simply asking about the real estate commission involved in selling. Sorry - you won't get a 'pat' answer from me. My answer is, if you are talking about commissions only, it depends. Apart from commission, there are several factors involved in the cost of selling a home. Tax Credit This is an important cost many sellers don't take into consideration when they think about selling their home. Since Indiana property taxes are paid in arrears, the buyer will expect the seller to credit them the tax amount until the day of closing. Depending on the month you close, this cost will equal between 12 and 18 months taxes. With the current tax situation, it could equal 2 years. If your yearly taxes are $1800.00, you will be giving the buyer a credit of about $2700.00 for one and a half year's of taxes. If your taxes are held in escrow, you will have a credit from your current lender, but you will have to wait for the refund and pay the tax credit upfront at closing. Closing Costs Title Policy - the cost of title insurance for the new buyer depends on the price of the home. For a $200,000 title insurance policy, it's about $700.00 TIEFF Fee - $5.00 Attorney Fees - $100.00 Tax certification - $15.00 Deed and Vendor Affidavit - $75.00 These fees vary depending on the Title Company. Additional Fees Possible fees depending on the terms of the contract. Closing Fee - $200.00-300.00 Home Warranty - $420.00 - generally accepted seller fee Survey - $140.00 - generally accepted seller fee, but not required Closing Costs - Any costs agreed to be paid on behalf of the buyer Repair Costs - if required and agreed upon Copyright © 2009 by Paula Henry, All Rights Reserved. *How Much Will it Cost to Sell My Indianapolis Home*

Do Increased Commissions Sell Homes?

2008-02-22T19:05:00-07:00

Does offering more commission to the buyer's agent help sell a home? Several times this week, I have received flyers and info advertising homes for sale with an increased commission for the real estate agent who brings the buyer. One offered 6% to the buyer s agent on a home priced at $681,000. Almost $42,000. if I bring a buyer for this home. A similar one offered the same and boldly stated, $42,300 Commission. Another offered 5% plus $5000. on homes priced between $299,000 and $350,000. One of these offers was from another city and two were here in Indianapolis. There are two schools of thought about increasing the buyer agents commission to help sell a home. One school says it s the seller s equity and they can do what they want with their equity. I agree! The other side says the commission is built into the price of the home and the buyer ends up paying the commission. On this, I also agree. Allow me to explain . If a home is priced well and comparable to other homes and the seller offers an incentive for the buyer s agent, it is truly the seller s equity. If, on the other hand, a home is overpriced to begin with, the increased commisssion is a attempt to get buyers agents to sell the home. Then, it does become the buyers cost, because it is built into the price of the home, which the buyer will pay for. Luckily, I know many honorable, trustworthy agents who would never allow their clients to pay more for a home than it s current market value, just so they can make an extra buck. These agents research and know the true value and will advise their clients about the recent sales and comparable properties in the area. These agents will be worth every penny when they are able to negotiate the price their clients should pay for the home. Although I have had clients who have offfered an increased commission to the buyer s agent, I always tell them I do not believe increased commissions sell homes. Homes sell when they priced right, properly presented and well marketed. BTW marketing does include a buyer s agent commission. It just doesn t have to be excessive when all other factors are in line. I personally believe there is a limit to the amount I feel comfortable accepting to represent my buyers. As a Fiduciary, I would not feel comfortable accepting $42,000 on the sale of a home priced at $681,000. Disclaimer: Real estate commissions are not set by law and are negotiable. These are my own personal opinions. ~ Paula

Please Don't Put Your Home on the Market!

2008-09-21T14:20:00-07:00

Put it 'in' the Market Really, I mean that! Probably not the way you think I do, though! See, there’s a huge difference between putting your home on the market and placing it “in” the market. I’ve written before, not too long ago, actually, about pricing your Indianapolis home to sell. I honestly admit I do allow my clients to test the market “for a time”, especially if there are not enough comparable sales in their neighborhood or if they have an outstanding or unique home. I also let them know we must be ready to adjust the price based on activty, feedback and lack of offers. It rarely earns me bonus points, but I prefer honesty above all else and have walked away from listings I knew I had no chance of selling when the homeowner is stuck on their price. A Current Example So, why do I write this again? I have to tell this story; it is exactly the type of homeseller who needs to take their home off the market. This particular seller is wasting their time and their agents time! It is a home I was personally interested in buying. I made an appointment, but was turned down because it was an inconvenient time. Hmmm……in this market, if you can possibly accomodate a buyer, you really should. At the time, the home had been on the market for almost one year and they were on their second agent. So let’s look at the history: Agent #1 had the home listed at $###,###. for 4 months. The information provided was accurate. The pictures used to market the home were just okay. The agent didn’t use a wide angle camera, which failed to capture the true beauty of the home. Agent #2 did a fabulous job capturing the beauty of this home with professional photography which made you want to make an appointment to see the home. It made me want to go see it! It was originally priced at $###,### with agent #2 and reduced by $15,000 over the next six months it was listed. $15,000 represented less than 4% of the original listing price. And…………………………..it expired last week without selling. This week it came back on the market, listed with another agent, who is only marketing with 6 outside pictures, nothing impressive and here’s the big difference – they raised the price $10,000 more than the price it was originally listed for with agent #1, which is $35,000 more than the price when it expired with the last agent. It Still Won't Sell If they really wanted to sell, this is NOT the way to do it. They should just take it off the market, because they are not “in” the market. Raising their price will not sell this home. Now, though, it has been on the market for over a year, which makes homebuyers wonder what is wrong with the home. It also tells me they are stubborn about their price. This homebuyer – that’s me, will not look at a home where it is apparent the sellers are stubborn AND overpriced.

Hiring the Right Real Estate Agent

2008-06-09T10:00:00-07:00

How do you decide which agent to hire to market your home and represent your interest in the home selling process? Maybe you have a friend who’s an agent, someone at work has a license, your neighbor, or brother-in-law. Your sister’s friend has a daughter who just got her license. There’s a sign in another yard in your neighborhood. One thing for sure, you won’t have to look far to find someone with a real estate license willing to list your home. With so many available Realtors, how do you make the choice? In today’s real estate market, where a home seller needs a competitive advantage, it is a question which should be given some serious thought. Not all agents are alike! Not even close! This isn’t self promotion; instead, an inside look at how I chose the agent who would list my home in Phoenix. I was once a Realtor in Phoenix. Times have changed and I haven’t a clue about values in the area. I do know there are about 50,000 homes on the market and if I am going to sell mine – my home had better stand apart from the competition. We have cleaned. polished, shined, updated and repaired everything we needed to – and now we must choose an agent. I do have friends who are agents and agents I have worked with before. Many of them are good people. I could have closed my eyes and picked a name from among them; I would have an agent I liked, however, I may not have the best agent for the job of marketing and selling my home. It would be a good thing if you also liked your agent! So, where did I search for my agent? Online…….In the blogosphere……. Why would I choose an agent who blogs, specifically? There’s actually a couple of reasons: An agent who blogs may write about any number of issues related to real estate. In order to write about a topic – you either know or have researched what you have written – It’s continuing education People who read a blog get to know the agent, their personality, whether they like them, how they market homes, how they solve issues as well as how much they know Agents who are successful at blogging usually have a great internet presence which means more buyers and sellers visiting their site Most real estate agents who blog know how to expose my home to the largest number of buyers looking at homes. On the internet! Those who keep track of such numbers, say, between 85–90 % of all buyers start their search online. It makes sense, I would want my home online, in front of as many buyer eyeballs as possible. Online sites and tools used in marketing homes over the last few years has grown exponentially. I have been lucky enough to have great mentors and smart enough to pay attention so I could stay on top of the newest online marketing avenues and techniques in the real estate industry. Naturally, I searched for someone who would market homes the way I believe homes should be marketed. There are also other factors which I considered. Were they accessible by phone and email – Did they respond promptly Are they personable and easy to talk to – this is important to me Could they explain what is happening in the local real estate market; it’s effect on my home and in my neighborhood Did I believe they were serving my interest, not their own I am not implying agents who blog are the only great agents. There are many wonderful agents who do not even have a website or email. Over the last few years, though, I have had the opportunity to “get to know” online agents through their blog and internet presence. Who did I choose to represent my home in the market? The Phoenix Real Estate Guy and his wife, Francy. I have read Jay’s blog for over a year. I felt I already knew him and Francy before I hired them. Jay’s the blogger and he was just as I expected him to be. Within 24 hours of being an active listing, my home is marketed to numerous websites, complete with a virtual tour, multiple pictures, a website, and detailed information for any buyer who is looking for a home like mine. When other factors such as price, location and condition are in line – marketing is the driving force behind exposure for my home. Now, our home is on the market. We wait patiently for an offer while our Realtor keeps our home marketed and monitors the market conditions which affect our home.

Do Homes Sell in Indianapolis in the Winter?

2011-11-19T20:53:00-07:00

A common question I receive from homeowners who want to list their home this time of year is, 'Do homes sell in Indianapolis in the winter'? My answer is yes, they do. Are there fewer home sales in the winter? Yes, there are. Still, people do buy homes in every season. I have fallen into many snowbank (with my clients right behind me) and have even fallen on my backside getting out of car on icy driveways. All in a day's work, showing buyers homes during an Indianapolis winter. There are two distinct advantages to market your home in the winter. 1. There is less competition 2. Buyers are generally more serious. What is the difference in the number of sales in the winter compared to the rest of the year? I ran the numbers for the past year. These are the dates the homes actually closed. Winter months equal homes sold from 11/1/2010 - 2/28/2011 Spring months are sold homes from 3/1/2011 - 6/30/2011 Summer months include sold homes from 7/1/2011 - 10/31/2011 While winter sales are less, there are still quite a number of homes sold. The percentages equal 5989 homes sold in the winter months, 7726 homes sold in the summer months and 9313 homes sold in the Spring months. The number of homes sold in winter represents about 65% of the number of homes sold in the Spring. If you have questions about selling your home, please contact us @ 317-731-2319. Related Articles: How Much Will it Cost to Sell My Home Competition and Selling Your Home Indianapolis Home Seller Resource

You Can't Take it With You When You Go!

2011-06-11T19:48:00-07:00

Defining Real vs. Personal Property It's so tempting for a seller to take something from their home when they pack up and move. Recently, one of our buyers walked in the door of their new home to find the light which was once hanging above a pool table had been removed by the sellers. I can almost see the logic; it was a billiard's light, quite nice and definitely looked good with the pool table. Problem is, it was attached to the home and the buyer expected it to be there, not an empty spot where it once hung. What was once personal property became real property the moment it was attached to the home. Detach it, put it back in the box and it is once again personal property. We always recommend our sellers think about things they may not want to sell with the home. Lighting fixtures of sentimental value are one such item. I prefer they be taken down and replaced before the home is listed for sale, so there is no doubt in the buyers mind what fixtures they will be buying. Just saying it is not included and will be replaced, leaves the buyer wondering what will be there. Real Property and the Indiana Real Estate Purchase Agreement The Indiana Residential Purchase Agreement clearly defines what will stay with the home and is considered real property. Included is the property address, the legal description and a list of items considered to be permanent improvements and fixtures. Included specifically in this list are lighting fixtures, ceiling fans, towel bars and racks, blinds, drapery rods and landscaping, among other items. It is perfectly fine for a seller to take a potted plant, but you can't remove the plants from the yard. There's also a place to input additional requested items, such as washer, dryer, refrigerator or the play set out back. Alternatively, you could exclude the play set. The contract specifically states this agreement will determine what items are included and excluded. If there is no exclusion, the seller must leave all items specified as real property. If in doubt, ask your REALTOR® and make sure it is spelled out in the purchase agreement.

Living Like No One is Home

2011-06-23T18:16:00-07:00

A New Camera for Real Estate Listings I bought a new camera today for wide angle pictures. My current camera doesn't shoot wide enough for me to get an entire small room. Of course, like any kid with a new toy, I've been playing around with it. I can now shoot the height and width of a room without cutting off areas. I was actually quite impressed with the ability to get an entire room in the photo without distortion. Of course you can see things that are out of place and wouldn't be in a picture online of one of my listings. Pictures and Black Pants Photos are like wearing black pants. Every bit of lint, hair or dust shows up on black pants. You just can't hide it. Same thing with photos. Every out of place item shows up. Photos of homes on the MLS need to be light bright and clutter free. Walking through my kitchen and living there, I don't notice the photos on the fridge my grand children made for me or the countertop with a few too many *things* out of place. I don't mind that the ironing board is always up or the fact the towels aren't hung straight on the towel bar. Even if I don't mind, the camera knows and picks up every little thing, just like those darn black pants. Now I have a 'to do' list for my house. Living Like No One is Home When Your Home is For Sale As I looked at my pictures, I thought about the times I have sold my own home and relate to home sellers who have their home on the market. They know they could get a call at anytime for a showing. It's hurry up and get the home 'picture perfect' in time for a showing. When we take pictures for the MLS, we always take the best shots we can, hopefully with everything in it's place. When home owners are selling their home, it's almost like living every day as if no one really lives in the home. You want to make sure everything is in it's place, just like the pictures submitted online. If everything else is in line with the marketing of your home, it shouldn't take too long and you can get back to living life, as normal.....with a few things out of place. Related Articles: A Pictures Worth a Thousand Words Marketing Matters When Selling Your Home

Staging Matters When Selling Your Home

2007-10-09T05:56:00-07:00

Surrounding myself with other professionals in the industry provides my clients with the benefit of experience in all aspects of their real estate transaction. One of the professionals I have on my list is Linda Barnett at Home Matters. Linda is a home staging professional in Indianapolis, whose work has been praised by homeowners, clients and featured on Fox 59 News. Linda is a master of decorating and arranging space. A professional consultation with Linda is included with every listing I market. I firmly believe a well presented home is crucial when your home is on the market. Every home has one chance to make the best first impression; shouldn't yours say 'WOW'? Rather than try to extol the virtues of staging with the written word, I have provided a glimpse of Linda's handiwork. The pictures are of both vacant and occupied homes: When it's time to sell your Indianapolis home, call me; together we will get your home show ready, or shall I say, SOLD ready. If you want to just add a decorative touch to your home, call Linda at Home Matters.

Your Home, Your Way by Renovation Resources

2007-08-30T13:13:00-07:00

This post is by an industry colleague, Jeff Echols, of Renovation Resources. If you have a question for Jeff about renovation and remodeling, be sure to ask. Welcome, Jeff! I write a free, monthly, electronic newsletter for my company, Renovation Resources. Like blogging, the obvious key to success in this area is selecting the relevant topics every month. One thing that s been on most peoples mind over the past couple of months has been property taxes. Theres a topic. But it s worn out, overly negative, and too emotionally and politically charged. But still, it s an important topic and better yet, it may have big implications for the remodeling / renovation market. I started talking to everyone I know, from Realtors like Paula Henry to Real Estate Investors to Contractors to Mortgage Brokers to Homeowners. I was in search of the silver lining. Paula has written a post on the subject already. Finally, the answer was obvious. The important article for my newsletter wasn't about property taxes; it was about Renovation strategies in light of the new property taxes. Seems obvious now. My advice to clients and potential Renovators in the current climate remains basically unchanged. For homeowners there are two viewpoints from which to consider planning a Renovation project: Quality of Life and Resale Value. Unless they are planning on selling their home in the next two years, I typically advise clients to lean more heavily towards the Quality of Life side of the equation. I think that the recent property tax issues bear this out now more than ever. If you want to remodel your kitchen or add a master suite or extra bedroom just to improve your quality of life in your existing home, then by all means, do so. I wouldn t advise executing a design that will negatively impact your resale value or expanding to a project scope that will price you too far out of your neighborhood, but being comfortable and happy in your own home has a value all it s own. If you need to sell your home soon certain Renovation projects can give you the upper hand in a slow market. One look at the lineup on HGTV will prove my point. Yours may be one of a growing number of homes in the neighborhood that have recently sprouted a Realtor s sign. There s no need to worry about property taxes now, you ve already been assessed. All you re worried about is getting the house sold. What will distinguish your home from the others? Will an updated kitchen do the trick? Or will yours be the only one with a legitimate master suite? A well advised approach to key Renovations could help you sell faster and bring in more at closing than your neighbors. As we enter what is likely to be a new era in the ongoing debates on taxation, property value and, in turn, the real estate market, it may be best to take a step back, be patient and examine our Renovation goals. Who are we Renovating for? And why? Despite wildly varying opinions, the property tax issue will eventually be settled and life will return to normal. Approach your Renovation project under quality guidance and you should come out ahead. Jeff Echols Renovation Resources, LLC 5222 E 9th Street Indianapolis, Indiana 46219 317.408.4322 Renovation Resources

The Realtor is The Seller........

2007-08-29T16:02:00-07:00

We relocated to Indianapolis to be home where our family is and have maintained our home in Phoenix Arizona. We have now decided to put our home in Phoenix on the market. While I have been in Phoenix for the last 10 days, I have looked at a few of the homes on the market which are my competition. This has given me a good idea about what I need to do to get mine ready. When we purchased this home, we had our work cut out for us. It is a 1979 Territorial style home with a flat roof (a foreign design to Hoosiers). Many of the interior items are the original and the exterior was; let’s just say, it was in need of attention. Since we have been here we have painted, installed a new A/C and Furnace, Hot water heater, completely remodeled the pool and landscaping, replaced all appliances, changed out fixtures, replaced all ceiling fans with new fixtures………you get the picture. We have done a lot! With all of these items completed, we should be ready to put up a For Sale sign, get it marketed and wait for the perfect buyer. But……not so fast. We have the most antiquated bathrooms, which need to be revamped, remodeled, renovated, whatever you want to call it. We have been getting estimates and the cost, oh my! Should I do it? As a Realtor, I know a buyer will come through my door and start taking off the amount of the repairs needed and the amount they come up with will be a lot more than the cost to do the work. So, yes, we will do the updating. It will take time and we will probably put the home on the market in January. It gives us a few more months to enjoy this home we love……we'll probably do one last hooray in January when the weather is outstanding in Arizona. Step One – We wait for the remodel to be completed……………..

Pictures - A Homebuyers Inside Look!

2007-08-18T18:58:00-07:00

My daughter was sitting with me at the computer one night, looking at homes on the MLS. She and her husband are thinking about buying a new home, maybe getting something a little bigger. When we came to a home with no pictures, I would stop to read the info - does it have a basement, square foot, bedrooms, etc. She said, 'forget it, why don't people post pictures with these homes'? Her question was valid! I had to tell her I honestly have no idea. She knows I tote my camera everywhere and am perplexed at the absence of pictures in the Indianapolis MLS. Now I know there may be a few homes on the market, where, there is no way around it, you just can't get a good interior shot. I think at least one good shot of the front, some idea about the home should be given. I'm not even sure they have to be the best photos and you don't have to be a professional photographer (I'm not). But good photos with a digital camera are fairly easy. Gone are the days of waiting for your pictures. I can easily take a 100 photos and delete those which did not turn out. Experience tells me the consumer just passes by the homes with no photos. Having photos definately increases the odds a buyer will stop to look at the home. If you can get them to stop for a minute, they may take time to read the info. Hey, they may even decide a personal tour is in order so they can see more. I am a firm believer in marketing with multiple photos, Real Estate Shows and on multiple websites. You never know where the buyer may be searching when they find my clients home. One thing for sure, they will find photos, as many as I can post! When your selling your Indianapolis home, give the buyers an inside look!

A Pictures Worth A Thousand Words When Selling Your Indianapolis Home

2007-05-19T16:24:00-07:00

Selling a home in todays market requires several steps in the marketing process. One of the most important steps is having your home show ready! Once the task is accomplished, how your home is displayed to the public can make a difference whether your home is shown or not. In the not so distant past, putting a home on the Indianapolis MLS and having Open Houses could guarantee some traffic. Today, many of the buyers who contact me, already have a list of homes they want to see. Recent statistics suggest over 80% of homebuyers start their search online. As gas prices rise, we may see the percentage of online buyers rise also. Having an online presence is no longer an option and your online presence must present your home in it's best light. Imagine for a moment you are a buyer, searching online for homes. You certainly do not want to spend all day looking at homes which do not meet your criteria. You search diligently and save the homes which most interest you. With so many available, you choose wisely which are tops on your list. What do buyers look for? Pictures! Online tours! Just this week, I had buyers from out-of-state call me to show them homes. Since they don’t live here, they don’t know exactly which homes or area of town will best suit them. They sent me a list of twelve homes they wanted to see. What did these twelve homes have in common? Pictures! They all had the maximum of 10 pictures allowed by our local MLS. Even the best description will not make up for the lack of pictures. The above chart was created with data from Point2Agent. Search Indianapolis Property Listings

Help! My Home Didn’t Sell – Part 2 - Preparation

2010-10-20T17:04:00-07:00

This is my continuing series about selling your home after it has expired. In the Real Estate community, a home which didn’t sell during the time it was listed, is called an Expired Listing. I have been participating in a mastermind group with other Realtors around the country. The subject of our meetings is expired listings, what happens which causes a home to expire without selling and how to overcome the obstacles to prevent the frustration for home sellers whose home does not sell. In this follow up to my initial article about Indianapolis homes that didn’t sell, lets take a look at preparation. When home sellers first think about selling their home, they instinctively start packing up and cleaning, which is an excellent place to start. The more small items you can get packed and put away ahead of time, the better. What are some of the items you should think about packing up? Small tables Extra toys Knick Knacks Excess furniture Family pictures Valuables Open the space doesn’t just apply to the living areas.The next thing you should do is clean and starighten out cabinets and closets. Leave the necessities, and pack up everything else. If it’s spring, pack up all the winter clothes. Organize the shelves and shoes. Small spaces also look crowded when they have too many items in them. Same thing for cabinets in the kitchen, laundry room and linen closets. Straighten up, clean up, throw away what you don’t want and pack what you don’t need for the next few months; extra towels, tupperware, silverware, anything which will add space. Pack up as much as you can live without – we all have boxes of these items. In the last three times I have moved, I have the same boxes which have never been reopened. They’re things I don’t want to get rid of, but I don’t need them day to day. As you go through your home, check the condition of everyday things which seem to get the most wear and tear in our homes. These would include things like: Baseboards – paint or stain those nicks and scratches Faucets – if they leak, fix them Stove and Refrigerator – Clean them thoroughly Ceiling Fans – No wobbles and dust removed. Outlet covers Furnace and Air Filters If your walls need painted, paint them neutral. If you take down pictures, patch the holes and touch up the paint. Clean, Clean, Clean – nothing speaks louder about the condition of a home than cleanliness! Especially the windows! Take some time outside: Sweep the walkways Plant some flowers Keep the grass mowed Paint the front door or trim, if needed Fresh coat of stain and seal on the deck Trim the bushes And pay special attention to the lock on the front door. If it’s broke or hard to open, replace it. These are really just the basic items which get away from us on a day-to-day basis. Help! My Home Didn't Sell – Part 3 – Competition

Moving On

2008-09-25T11:23:00-07:00

Not Like Any Other Day Today was an early morning as I got my youngest daughter on a plane and now I sit here at the Indianpolis International Airport, waiting for my flight to join my daughter in Phoenix. It is a vacation of sorts. My son will fly in for the weekend, as we have one last hooray at our Phoenix home. If you remember, we were supposed to have that last blast back in January, but time got away and we didn’t put the house on the market until June. A Home Sold I intended to chronicle the details along the way – but somehow time passed and the specifics don’t seem quite as important. Yes, my husband and I had differences of opinion about the price, when to reduce the price and how to respond to the offer, once we received it. It was not all that exciting to me, being a REALTOR, but I know every detail was important to my husband. I think REALTORS should sell their own home occassionally to remind themselves of the impact the whole process has on our clients and their family. While, I have been able to rationalize price reductions in light of the reality of the current market, it wasn’t easy. We had two price reductions and an offer within days of the last price reduction. Yes, I wanted to make more money, but am glad I don’t face the prospect of having to bring money to close. I feel blessed in that respect. So far, I have been able to keep an emotional distance. Not so, today! A New Life Yes, we sold our home, but we also sold every spring where my husband would plant another plant or buy another yard ornament. We sold every summer where the pool and patio became a place of relaxation, a place where family and friends gathered. We sold the home where our last child became an adult. We sold a part of our lives which we both cherish and miss. Our memories are deeply planted in our hearts, soul and a few thousand pictures, but the loss; it’s still the same. On Tuesday – I will step into my clients shoes with a bitter sweet victory. Sometimes selling a home is a happy occasion; other times not so much. It’s always a transition. Along with every other transition life brings us, we will move forward with hope, optimism and another chapter in our lives. We have our new life in Indianapolis, another home to create memories together, this time with grandchildren. It’s difficult moving on., but there’s another door waiting to be opened.

Leave the House

2008-09-28T14:28:00-07:00

As a matter of preference, I recommend my home sellers don’t hang around when the buyer is performing a final walk-through. A final walk through is the buyers opportunity to ensure all requested repairs were completed and the home is in the same condition as it was when they wrote the offer. Because of circumstances beyond my control (movers, moving trucks and the day the buyer chose), I had to be home when the buyers came through for their final inspection of my home. My REALTOR® did ask if I wanted them to come by, but…..Hey, I’m a big girl and besides that, I’m a REALTOR®; I know to just stay out of the way, give them the receipts for the repairs and let them inspect. Well, not so fast there – I still have an emotional connection to this place I have called home and I know the work we have put into it. If they want to know how the pool works or what day the trash gets picked up, well, I can answer that. The question I wasn’t prepared for caught me off guard and left me wondering what happen to the professional REALTOR® I am. So my emotions got the best of me, but, at least I waited until the new buyer left. Now there’s the professional in me :) What was the question? What’s underneath the carpet in the fire-pit conversation area around the fireplace? A seemingly innocent question, until, they tell me they plan on taking out the carpet, level the floor, replace the flooring, tear out a wall, remodel the kitchen, take out the pantry……………………etc. It’s not that I don’t believe this home needs some more updates or remodeling. But, today, it is still MY home and I wanted to believe someone bought my home because they would love it as much as I do. The truth is, they will come here and make it their home – I just didn’t want to hear about it – at least not today. Home sellers, get out of the house when the buyers come by and inspect. Leave them a nice note and imagine how much they will love your home. I guarantee you’ll be glad you did.

Don't Let Them In

2008-09-28T15:06:00-07:00

While packing and cleaning today, working around the movers, a couple of men knocked on the door. I opened the door, expecting it to be the new buyer for his inspection. Instead, they were unrepresented homebuyers (no agent) who wanted to know if they could come in and view my home. Of course you can't! I wasn't rude, I just wasn't going to allow two complete strangers into my home to look around. Regardless of whether my home is sold or not, they were not getting pass the threshold. I wanted to take a minute to remind all home sellers; please do not let anyone into your home unless they have an appointment. I mean, really, who walks up to someones home and expects an open invitation? I am assuming it is not your normal person and you certainly don't want an abnormal person waltzing through your home.

To Remodel or Not

2007-12-14T08:08:00-07:00

I have mentioned in previous posts, we are selling our home in Arizona. When we bought the home, we knew we would need to do some updating. The home was built in 1979 and much of it was original when we bought it. As these things go, we have completed many projects, and some, we just didn’t want to think about. Too much time, too much money, not now, we’ll do it later; always a reason to delay the inevitable. I am sitting here in Phoenix now, while they destroy our bathrooms and put them back together. While I have actually enjoyed many of the projects – the bathroms were one of those items we put off. Until now…..now we are selling and we have to get it done. I only regret I didn’t do them while I could enjoy them. You may wonder why we would update and should we just sell at a lower price, deducting the cost of the remodel from the sales price. Maybe! The answer is not the same for everyone. Here are a few questions to ask yourself. 1. How does your home compare to other homes in your neighborhood. Have your neighbors remodeled. 2. What percentage of the cost can be recaptured when you sell? 3. Time is a huge factor. A remodel project can take time, and making those mortgage payments while you are remodeling may not make economical sense. 4. Price point – In certain price ranges, buyers expect specific amenities. If you’re in a higher price bracket, you can expect to either remodel or take a hit on the price. If you are considering a remodel project, check the The Natonal Association of Realtors 2007 Remodeling Cost vs. Value Report. Of course the cost and return factor in the Indianapolis area will differ from Arizona. These are guidelines; not every remodel project has to be a complete overhaul. Since real estate is my profession, I view hundreds of homes a year and see the reaction of buyers in the market to specific items in a home. I can assist you in determining whether a remodel will help sell your home and if the cost can be recaptured in your neighborhhood.

Protect Your Home From the Indianapolis Winter Cold

2008-01-22T06:28:00-07:00

It s the call you don t want to receive. A neighbor of one of my listings left a message saying water is pouring from beneath the garage door. The neighbor turned off the water and called both myself and the owner. This particular home has the utilities on and my partner was just there the day before to check on the home. What s a homeowner and a Realtor to do? As the temperature drops, there are a few simple steps you can take as a preventative measure against the damage from a busted pipe. If the home is vacant and has the utilities on, you should keep the temperature set at fifty-five to sixty degrees. Insulate the hot water heater and exterior water faucets. If you have a crawl space, insulate the pipes you can get to. Same for visible pipes in the basement. It is always colder in the basement than the main floor. Disconnect water hose and sprinklers from all exterior faucets. If the home is vacant and does not have the utilities on, a homeowner will need to winterize the home. This can be accomplished either by the homeowner or by a professional service. Take the necessary steps to protect your home from the devastation of water damage.

Marketing Matters When Selling Your Indianapolis Home

2008-01-24T09:35:00-07:00

Marketing a home in today s market requires more than a sign, an ad, a lockbox and a prayer! Today s real estate professional has to be proactive and progressive when it comes to marketing and selling homes. I have heard it said, A Realtor s work begins once we have an accepted contract . Although there is truth to the phrase, with contract negotiations, transaction details and timelines to attend to, a Realtor still has to do the work and marketing which brings the buyers and their agents. There is really no secret to listing and selling a home. Most Realtors have access to the same marketing avenues. Some take advantage of and utilize more of the resources available, depending on the marketing dollars we allocate for our clients. When a home is properly priced and represented in the market, we will have a buyer. Get Your Home Exposed: This represents some of the online marketing avenues I utilize with every home my team and I list. The Home to Indy Team is prepared to get your Indianapolis home SOLD! If you would like a consultation to see if our marketing plan is a fit for you, please contact us.

Protect The Value of Your Home

2008-01-28T16:42:00-07:00

It seems there is an insurance policy for everything! Now, there’s a new insurance policy being offered to protect your home’s value. Although it doesn’t protect against a change in the real estate market, there are some instances when such a policy could help a homeowner whose value has been affected by issues outside their control. I have had two listings in particular where it appears the homeowner may have benefited from such a policy. Both involved the extension of roads or freeways which abutted their property. Although I am not necessarily advocating such a policy, I found the article and website interesting enough to research. When would such a policy be beneficial? In the instances above, where I represented the seller’s, the homes may not have qualified for the insurance. One couple had lived in their home 7 years, but the proposed plan for the extension of the Parkway was already in place when they bought the home. The government paid the other couple for a portion of their land to be used for a new freeway interchange. They could have still suffered additional monetary damage, except it will be hard to determine with the change in the market and no additional homes on the street having sold in the last 12 months. The website indicates the policy would protect against road construction or widening, transportation facilities, such as train stations, airports and bus stations, commercial buildings, industrial parks, hospitals and medical facilities, shopping centers, sports complexes or stadiums, prisons, educational establishments and public utility sites. It would also cover inability to rebuild, noise nuisances and land or zoning changes. Of course, there are also limitations, conditions and terms – one being you have to sell the property to realize the loss first, then you could be reimbursed. The website doesn’t say whether the policy is available to Indianapolis home owners. While it may be worth considering, it is something I would caution my clients to thoroughly investigate before jumping in. You can find out more information here.

Pricing Your Home to Sell ~ Part 1

2008-03-30T23:03:00-07:00

The following graph illustrates the importance of pricing a home when you sell. I don't know who created it, but, the information provided in the graph is timeless. I have seen it happen time and again.The graph explains the percentage of buyers who will buy your house based on the asking price vs. market value. For example, I currently have clients who are searching for a home with specific criteria in a determined price range. Their criteria is four bedrooms, two baths and room for an office, with a price range between $150,000. and $175,000., in a particular area of town. They are from out of town, so I search every home online and send to them. More importantly, they are searching the entire Indianapolis Property Listing inventory on their own and send me homes they want to see. Once they have chosen the homes they want to see, we head out on a home tour. If you have a home which matches their criteria and you are above the price range, you will be eliminated. I do run a search for overpriced homes up to about 5-8% over their price range, When I find homes which have been on the market for awhile, I include those on the tour also. If they are new to the market and overpriced, we usually skip them. There is too much inventory to see all the homes which are overpriced. You can see by the graph, when priced at market value, you will attract 60% of the buyers in that price range. Price your home too high and you lose buyers. When priced below market value, you attract a larger pool of buyers. Many homes which are priced correctly are those which have been on the market for awhile and have reduced their price, sometimes more than once. This strategy will work against you. Buyers always ask how long the home has been on the market. Buyers know they have room for negotiating the price when the home has been on the market for awhile. Price it right in the beginning and you will sell quicker and for a higher price than reducing the price gradually. Once your home becomes 'old news' you will have a harder time getting top dollar. Pricing Your Home to Sell - Part 2

Pricing Your Home to Sell ~ Part 2

2008-04-09T09:01:00-07:00

The Importance of Pricing Your Home Correctly From The Beginning It never fails, when I am talking with a home seller, they want to try to get a higher price than the comparable homes in the neighborhood are currently selling for. I can't blame them, I want the highest price for them. I understand the reasoning of pricing a bit high in case the buyer offers a lower price. It can be done and successfully, depending on your competition. When there are too many homes available just like yours, you have to be priced accordingly. Of course, there is some room for upgrades and specific amenities, but you don't want to attach too high a price to them. Generally, the hardest hurdle to overcome is the emotional attachment people have to their home. Memories created in a home are what makes it a home. The problem is, the buyer has no sentiment about your home. They are looking at making it their home. They don't care if this was your first home, or whether you personally installed every upgrade. They are comparing your home with every other home with the same square foot in the general area. If they feel the upgrades are worth the cost, they will buy. If not, they will move on to the next home. The very best time to get the price right is when you list the home. The graph above indicates the activity a home recieves when it is first listed on the market. The initial activity can not be repeated. The longer your home is on the market - it becomes stale and is subject to a decrease in activity and subsequently, a decrease in price to raise activity to a higher level. Pricing Your Home to Sell - Part 1 Marketing Matters When Selling Your Indianapolis Home Do Increased Commissions Sell Homes?

Selling Your Indianapolis Home ~ Pictures Tell A Story

2008-04-09T09:07:00-07:00

While searching available homes for sale in Indianapolis, I stumbled upon something I don't quite understand. Although I try to stay on top of the latest marketing ideas to ensure my clients homes are marketed to the largest amount of buyers looking for homes, I'll be the first to admit, there are some new marketing or technology ideas I haven't yet tested. This one, though, confounds me! Itty, bitty pictures on the MLS. This is the actual size of the pictures displayed in their largest format of these two homes. The second one has no additional pictures. The first one has more pictures, all the same size. These are from two different agents who work for the same local company. Maybe, it is a new marketing strategy. My question would be, Is there value here for my seller? Could it be, if you only show an itty-bitty picture, you will pique the buyer's interest and they will have to come out and see the home? Surely not! With gas at over $3.25 a gallon, would buyers really jump in their car to see a home based on the representation of these photos? When statistics show the buyer WANTS pictures, why would you not give them pictures, especially when the home is new? 83 % of buyers want pictures! I believe in giving the buyer what they are looking for when they come upon my seller's home.........Pictures, lots of pictures, a virtual tour and accurate detailed information. Some may think it's beneficial to provide limited pictures, so buyers will come by. I do see some logic in that and can tell you, I have never had a seller tell me they don't want pictures. I have had more buyers complain when there aren't pictures. As a matter of fact, my experience tells me buyers will pass over a home without pictures. Pictures tell a story! Itty-bitty pictures tell me there's something about the property the seller doesn't want seen........Both of these homes are new, so I can't imagine there is something you would want to hide. I am always willing to consider my ideas may be wrong and there may be a better way to market a home online. I don't think this is it! I would love to hear from homebuyer's who are searching the internet for homes. Do you pass by homes with little or no pictures or do they pique your interest?

Does Staging a Home Help it Sell?

2008-05-04T16:49:00-07:00

As part of my listing agreement with my clients, I offer a complimentary staging consultation. Many ask me if staging is really a benefit. Although I believe it is, it really doesn’t matter what I think, it is the buyer’s we really want to impress. Are we trying to deceive the buyers? Not at all! What we aim to do with staging is present the home in it’s best light, maximize the space, therefore, giving the buyers an idea of what type, style and size furnishings will fit in each room. When your home is on the market, being conscientious of the flow of the space and the blend of colors you use is important. Our goal is to appeal to the largest amount of buyers in the market for your home. When you decide to sell your home, you have to move out emotionally before the SOLD sign is up and moving day has arrived. I have written about staging your Indianpolis home in past articles. View some of our listings which have been staged or lived in as if they were staged. 8435 Heathermor in Avon 414 Appleton in Indianapolis 6745 Oak Lake in Indianapolis 432 Castle Ct in Avon

Where Do You Advertise?

2008-08-14T19:47:00-07:00

This is a common question from home sellers I speak to. What they really want to know is what I am going to do to market their home. I have a very extensive online and offline marketing program designed to optimize exposure to my client’s home to buyers and their agents. My offline marketing does not include print advertising as it relates to newspaper ads and home books. This may confound some home sellers, but most understand times have changed and most buyers are online. Recent statistics indicate abut 84% of home buyers start their search online. RE/Max of Indiana does have a home book and all our listings are there. I have recieved exactly one call directly attributed to that book in the last year. Not the type of advertising which pays off for my seller. Truth is, it costs me very little to add my clients home to the book. My online presence through the IndyStar has produced a hundred times more phone calls, emails and direct contact with home buyers. I hear other agents say sellers like to see their home in the paper and print ads are a must. I don’t believe it! I believe sellers want one thing – a contract on their home and a SOLD sign out front. Small black and white or colored picture in a newspaper does not help sell homes. Period. I know we all have opinions about the best way to market and sell homes and I should probably have some data to back up my beliefs. The company who publishes our local newspaper has said it better than I ever could. It is not my intention to make light of the fact Gannett will lay off over 1000 people or that 7200 people have lost their jobs at Gannett in 2008, however, I do find it interesting how the company plans to move into the future of publishing. Online, of course! A direct quote from the Wall Street Journal: Dubow said that Gannett remains determined to build a 'strong, profitable digital business' as more ad dollars shift online, and to manage costs 'to be more aligned with these opportunities.' You can read the entire article here. Today’s business requires an online presence……..Of course, I always welcome a discussion from those who have a differeing opinion or success with print advertising in the newspaper.

Can't Sell Your Home - Swap It!

2009-06-01T23:15:00-07:00

Could swapping homes be the next wave of creative selling techniques? I’m not convinced, but if you’re lucky enough to be one of the few who is able to make it work for you; I say “go for it”. It’s not a swap as in let’s swap – I’ll pay yours and you pay mine. Each home owner qualifies for a new loan on the others home. You would have to settle the equity difference, since it’s highly unlikely the equity would be equal in each home. I read about this in a local Indiana newspaper online and while I believe it is a true story, with seller’s named Peek and Bou; I’m cautiously recommending the article for those who may benefit from the happenstance of finding a home to swap. Check out the article here – Swap Your Home

Help! My Home Didnt Sell Part 1

2010-10-07T15:29:00-07:00

You have prepared your home for sale, completing every project you could think of (and afford) to get your home ready for the market. You’ve hired a real estate agent and as the sign is placed in your front yard, you have high hopes of a quick sale so you can move on with your future plans. In the first few weeks Realtors call to show your home and you’re sure, each time, this will be the one. The buyer who absolutely loves your home as much as you do! Certainly, you will soon get the call from your agent, saying you have an offer. Instead, all you get is feedback: The kitchen is too small Buyer didn’t like the yard Home is overpriced Home needs new carpet Buyer doesn’t like the colors Not what you wanted to hear! The feedback can actually be a helpful tool in evaluating your home against other available homes on the market. You review the feedback, make a few changes to your home and continue with renewed hope you have finally found the solution to sell your home. Still, no buyers! After a few months, the Realtor showings are fewer and farther apart. You are up a bit earlier every morning making sure there are no dishes in the sink, the beds are made, the floors swept, just in case this is the day someone wants to see your home. You’re actually frustrated with the whole process and just want your life back. Wouldn’t it be great to leave the house a bit messy in the mornings? Four months after you listed the home, you have reduced the price a second or third time and still, you don’t have a buyer. By now, your hope is diminishing. You continue on; after all, the goal is to sell your home. Then it happens, your listing contract expires – Now, what do you do? In this series, (of unknown length), we will examine each of the factors which affect a home sale and how you can maximize your chances of selling your home. Over the next few weeks, we’ll take an in-depth look at the following topics (not necessarily in this order): Price Competition Location Preparation Condition Marketing Terms Realtor Part 2 - Preparation Part 3 - Competition Part 4 - Price I may combine a few of these topics . If you have specific questions, please contact me.

Help! My Home Didn't Sell - Part 3 - Competition

2010-11-05T17:53:00-07:00

Whether you’re the competitive type or not, competition plays a huge role in the sale of a home. I’m not sure why, but it seems when one person puts their home on the market in a neighborhood, a few more do the same. In some areas around Indianapolis, there are simply, too many homes available. There’s usually some distinguishing factors why a buyer will ultimately choose one home over another. Evaluating what other homes in the market offer compared to your home is the first place to start. There are the obvious differences: Square Footage Number of Bedrooms Location Within the Neighborhood Garage Size Single Level or Two Story Price There’s also the differences in amenities which can make a home more attractive to buyers in the market. Landscaping Flooring Appliances Upgrades Floorplan The two most difficult sources of competition in the real estate market today are new home builders and foreclosures/bank owned homes. If your home is in an unfinished neighborhood, where the builders is still actively building and selling, your competiton has more money to offer incentives. Still, there are buyers who can not wait for a new build. While short sales and bank owned properties do offer a substantial savings, they require the buyer to have either time or money. Short sales can often take 3–4 weeks to receive an answer from the bank. Bank owned homes are always as-is and many require an instant infusion of money. Remember, competition can be a good thing. When there are three or four homes available in a neighborhood or community, it will generally produce more buyers looking. When you have properly prepared your home for the market and market conditions, buyers will respond. Help! My Home Didn't Sell - Part 4 - Price

Help! My Home Didn't Sell - Part 4 - Price

2010-12-16T17:10:00-07:00

Price is the subject most homeowners approach with trepidation. Almost everyone I meet with wants to try to price a little high so they have room to negotiate. I can not stress enough the dangers of pricing high and holding. Price is the number one reason homes expire without selling. The longer a home is on the market, it becomes “old news” and buyers believe there must be something wrong with the home, or the seller is desperate, which results in lower offers and more seller concessions. I have written about this subject before, so won’t bore you with the same old news about pricing. Here’s a few places you can find info about pricing your home: Pricing Your Home to Sell, Part 1 Pricing Your Home to Sell, Part 2 Many people believe if the home sales too quickly, it must have been priced too low. The truth is, if you get activity, as in buyers coming through your home, the home is priced correctly and months on the market is actually money lost. When there is no activity and all other factors are in line, we have to look at the price. There are other factors which affect price, such as the amount of foreclosures, bank owned and short sale properties within the neighborhood. I have seen several neighborhoods where the only sales are distressed sales. A large part of my expertise is determining market value, so a home listed does not languish on the market. Admittedly, sometimes, there are not enough comps to determine an exact price range. It is then, we must make an intelligent decision to reduce the price in a timely manner.

Seller, Protect Yourself!

2009-04-06T03:00:00-07:00

Are you selling your Indianapolis home without a REALTOR® or legal representation? Remember to protect yourself! This weekend, I received a call from a homeseller who had his home advertised as a lease option. Instead, he found a buyer, then realized he didn't know what to do next. He wanted to know if I could facilitate the contract for him. Of course I can! We negotiated compensation and I sent him the contracts and addendums I believe he needs to protect himself, as well as those required by law. Many people who sell their homes themselves do not realize they are subject to certain laws regardless of whether they are represented by a REALTOR®. Indiana Code (IC 32-21-5) requires all sellers to provide a Residential Seller's Disclosure upon the transfer of real property of 4 units or less. Not doing so could result in litigation. Of course, lying on the form could also have the same consequences. It is also written law that the seller of a home built before 1979 has to provide a lead based paint disclosure and the 'Protect Your Family From Lead in the Home' pamphlet. This law applies whether you are renting, leasing or selling a home built prior to 1979. A few more simple, but important disclosures I recommended my client inform the buyer of : The buyer is not being represented and is advised to seek their own representation. The buyer is advised to have an inspection. Not only inform, but to have the buyer sign an addendum, acknowledging he has been advised to seek his own representation and to have an inspection completed. If you're thinking about selling your own home or happen to luck into a buyer, remember to protect yourself. Update: The buyer who was interested never made an offer. I find this happens often and is completely frustrating for people who are trying to sell their home themselves. It is difficult to determine a persons motivation and financial ability to perform.