Monthly Archives: April 2013

Co-Op? Not what you think!

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When you google Co-Op’s in Indianapolis, the results go to farm or food cooperatives…but did you know that we also have Co-Op homes in Indy?  I have personally assisted my dear friend Kate in her purchase of her new home…a Co-Op in Irvington!  I learned a lot during this process and thought I would share some it.

When I think of Co-Op’s, I think of those fabulous Park Avenue places in New York City…you know the ones, millions of dollars, thousands of square feet, very exclusive with a fabulous view.  In Irvington, there are 2 neighborhoods – Maplewood Court and Irvington Court.  A housing cooperative is a legal entity consisting of one or more residential buildings, a distinctive form of home ownership that has many characteristics that make it different than other residential arrangements such as single family ownership, condominiums and renting.

The corporation is membership based, with membership granted by way of a share purchase in the cooperative. Each shareholder in the legal entity is granted the right to occupy one housing unit. A primary advantage of the housing cooperative is the pooling of the members’ resources so that their buying power is leveraged, thus lowering the cost per member in all the services and products associated with home ownership.  Members, through their elected representatives, screen and select who may live in the cooperative.

Kate purchased her new home in Maplewood Court, these were built in 1917 and to the credit of the Board, somewhere along the way they added garages to the property along with a caretaker apartment and caretaker.  These units boast an unfinished basement with Laundry hook-up, main floor has a living room, dining room and kitchen – some have taken down the wall between the kitchen and dining which really opens the space – 2 bedrooms and a bath on the 2nd floor and most have finished the attic that really adds to the usable space!  They all have front porches and lots of period detail.  Kate’s unit even has the original doorbell on the beautiful wood and leaded glass front door!

Closing was the simplest transaction I’ve been involved in during my career…money transferred, a few documents signed and well, what took the longest was the issuing of the Stock Certificate – one of the board members actually used calligraphy and issued it from the original book of blank stock certificates!

Great process, lots of lessons learned, Kate has a fantastic new home and all is well.  Living in Irvington was Kate’s dream….what can I do to turn your dreams into an address?

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Vicki Reed

Opportunity is Knocking…

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Research tells us that real estate may very well be at its most affordable level, RIGHT NOW.

Check out this quick video to find out why home buying is more budget friendly than it’s been in decades.

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History is being made. When you look back, will you say, “I wish I had …” or “I’m so glad I did”?

Now is the time to BUY!  Let’s talk!

Vicki Reed

What is a FSBO?

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For Sale By Owner, or FSBO (pron.: /ˈfɪzboʊ/), is the process of selling real estate without the representation of a real estate broker or real estate agent. Homeowners may employ the services of marketing or online listing companies or market their own property but do not pay a commission and represent themselves with the help of a lawyer throughout the sale.  Okay, so you know I’m a Realtor…what do I think of this practice?

As a home seller, do you know what your home is worth?  My job as a Licensed Real Estate Professional is to know the answer to that question.  Are you overpricing your home?  Underpricing?  How are people finding your home?  How are you managing showings?  Telephone inquiries?  Is it interfering with your job?

With the prevalence of the internet, you can easily advertise your home but for many FSBO’s, you will likely get one of 4 types of buyers:

1.  Serious and in a hurry.  They may be moving here and have three days to find a home, or maybe they just sold theirs and need to get into another or they will lose their contract.

2.  Serious, but not in a hurry.  They can qualify; they may be a first-time home buyer proceeding cautiously or looking for that special home.  Are you willing to hold their hand through the process?

3.  Investors.  They want to buy everything ten cents on the dollar.  These folks are easily identifiable…they are going to quickly make you an offer way under your asking.

4.  Looky Lous.  They really aren’t buyers, they can’t qualify for a mortgage and Agents won’t work with them so they go out and prey on FSBO’s.

If a buyer is serious, they are going to be working with an agent…it doesn’t cost them anything!  Agents are searching the Multiple Listing Service for homes that meet their clients criteria…not Craigslist which is where a lot of FSBO’s advertise.

I will handle all these issues for you…and get your home sold for the best possible price in the shortest amount of time!  The market is moving in Indianapolis, let me serve you and get your home sold!

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Vicki Reed

GET OUT!!!

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The weather it becoming nice (and we’re SO ready for it!) so it’s time to get out and enjoy local events – most are free, some might have a small charge/donation. Either way – Have FUN!

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And remember, Indy has lots of walking & bike trails and parks on every side of town to enjoy. So, GET OUT!

Tattooed…and Employed

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Do you remember when…having a tattoo was taboo?  I was driving home down I-465 yesterday and saw this on the back of a really nice car!

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There are many myths about people who have tattoos…they can’t donate blood or organs (visit donatelife.net for accurate information!), that they are barred from burial in Jewish cemeteries (Torah law prohibits a Jew from being tattooed, says Rabbi Gedalia Dov Schwartz, the presiding judge of the Orthodox Beth Din of America, however, “there is no reason why a Jew with a tattoo may not be buried in a Jewish cemetery.”), only “trashy people” have tats…well let me tell you, I’m educated, own my own business, own my home, drive a nice car, go to church regularly, come from a “good” family and I HAVE A TATTOO!  And so do a lot of others!

What about you?  I was 42 when I got mine, I wanted a specific cartoon character from my college days…anyone remember “Bloom County“?  Opus, Bill the Cat are among the cast of crazies that inhabit the mind of Berkeley Breathed and reading Bloom County in the Ball State Daily News was a staple of my college days!

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It took me a long time to work up the nerve, find the right image and have the money to go through with it, decide where it should go…a friend has dolphins swimming around her navel, looked great until she got pregnant…then those little dolphins became whales and became the size of a dinner plate!  Mine is small, on the right side of my back, just above my waist…I did it for me, to remind me of a more carefree me and just to make me smile!  What do you think?

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Vicki Reed

Mastermind? What?

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What is a mastermind group? No, it’s not an evil Mastermind like Dr. Evil in the Austin Powers movies, or the guy who tied the pretty lady to the railroad tracks in the old silent movies…what do you think when you hear Mastermind Group or Mastermind Coaching?

I was recently asked to take part in a Mastermind Group with Business Women Connect, our first topic, Think and Grow Rich by Napoleon Hill.  This book was originally published in 1937 and its guiding principles are as  relevant today as they were then!

Napoleon Hill first defined the mastermind as a “coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”  His concept of the Mastermind was inspired by Andrew Carnegie and according to Mr. Hill,

“Mr. Carnegie’s Master Mind group consisted of a staff of approximately fifty men, with whom he surrounded himself, for the DEFINITE PURPOSE of manufacturing and marketing steel. He attributed his entire fortune to the POWER he accumulated through this ‘Master Mind.’

Since the publication of Think and Grow Rich, the idea of mastermind groups has grown and evolved to become a staple tool of successful individuals.  The benefits of such groups are abundant, you have a group of people available to help you succeed, you benefit from others perspectives, access to resources and connections of others in the group, and you receive inspiration and accountability from the group toward reaching your goals.  Napoleon Hill even went so far as to say there was a mystical quality created when a mastermind group was formed. He said: “No two minds ever come together without, thereby, creating a third, invisible, intangible force which may be likened to a third mind.”  In other words, your ability to create things in the world is increased by having that invisible “third mind” of the mastermind group.

There are two basic types of mastermind groups: One which is focused on the success and vision of one individual, and one that is focused on helping everyone in the group.  The mastermind group Carnegie had was solely directed at his personal vision. The 50 men in the group were not all there to discuss their own projects. They were all focused on one main goal: the building of a steel empire.

The second type of mastermind group is one where all members of the group are meeting to support one another in achieving a goal. These types of groups are everywhere, but aren’t always named “mastermind groups”. An Alcoholics Anonymous meeting is a form of a mastermind group, where the members get together to support each other in their sobriety.   This is the most common type of Mastermind, when someone mentions that a Mastermind is forming, they mean a group dedicated to success and achievement. You can create a group that is led by a facilitator (sometimes paid), or a group that is run by members. These groups can meet in person, over a telephone conference line, or even in online chat rooms.

Are you part of a Mastermind?  Many of us have created our own “mastermind” simply by those we associate with!  The Group (my personal group of exceptional friends) are a mastermind, we give each other support, feedback and ideas on life decisions…let’s just face it, they are great friends!   However you create a mastermind support system for yourself, consider it an essential part of your success plan. As Napoleon Hill said:

“Analyze the record of any man who has accumulated a great fortune, and many of those who have accumulated modest fortunes, and you will find that they have either consciously, or unconsciously employed the ‘Master Mind’ principle.”

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Vicki Reed