Tag Archives: Buyer

Time to Sell?

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Thinking about selling your home?  Just a few things to think about…

Renovations: The changes that make your house work for you may not appeal to potential buyers. Not everybody loves that bright blue paint color — no matter how much you personally adore it. Make sure any big changes you make will increase, rather than decrease, your home’s value.

ALWAYS leave during open houses and showings: No hovering!  Current homeowners hovering over potential buyers as they tour the house…it’s a lot of pressure and can prevent them from giving honest feedback that could ultimately help you sell your home.

Waiting to list in the Spring: Most people house hunt in the spring and summer, but that’s also when most people list their homes. List yours when it’s available and you’ll reach those buyers who need a home now and aren’t finding much on the market.

Setting the price too high: What your home is worth to you and what it’s worth on the current market can be vastly different. Take a good look at the comparables provided by your REALTOR® and follow their advice…we are the experts!  Ignore Zillow…the Zestimates they offer are just WRONG!

Not doing enough marketing: Just putting up a “for sale” sign isn’t enough. Talk with your REALTOR® about other options, like online listings with virtual tours to attract buyers who aren’t looking on Craigslist!

Not getting a real estate agent: Unless you’ve had plenty of experience, going the “for sale by owner” route is probably not a smart bet. A REALTOR® can give you insights, marketing advice and, most importantly, can get your property on the multiple-listing service (or MLS or if you are in Indianapolis, BLC), which gets it in front of other agents.

Not staging your house: You need to help buyers envision themselves in your home. This includes removing any clutter and overly personal items (like family photographs) and making sure furniture flows well and demonstrates the purpose of each room.  Don’t go overboard, sometimes you can declutter and depersonalize to the point that the potential buyers can’t envision anything!  Discuss with your REALTOR® and if they don’t have a good eye, bet they know a good stager!

Okay, now are you ready?  Call, text or email me and let’s get started!

sold

Vicki Reed

 

Think you are ready to buy a house?

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Buying a home is an emotional decision for most people, this is where you will likely spend the next 5 to 7 years of your life, more if you buy right and love the area.  Do your research!  Think about these things and when you are ready…CALL ME!

Researching the neighborhood: Is this some place you really want to live? What amenities are nearby? How is the school district? What does the traffic and street activity look like when you drive by it at different times of day, like Sunday morning and Monday evening rush hour?

Get an inspection: This is one of the biggest investments you’ll ever make, and you’ll be living with it for years to come. Don’t pinch pennies — shell out $400 for an inspection. Make sure you know exactly what you’re signing up for.

Remember, you can paint!  Don’t buy or not based on decor: Paint color can be changed. Tiles and cabinets can be changed. What you want to look at are the bones of the house. Will it meet your needs? Does it flow well? Does it have enough space?

Don’t buy the most expensive home on the block: Hate to break it to you, but the most expensive home on the block isn’t a good deal. It will only depreciate over time, and you could have trouble selling it when buyers can see plenty of more reasonably priced options in the same neighborhood.

Be realistic with your budget: There are 2 numbers to look at when you are buying a home, just because your lender says you qualify for a $250,000 mortgage, that doesn’t mean you can afford it, especially when you factor in the other costs that come with homeownership. Be real and only look at houses you can realistically afford.

Be realistic about your DIY abilities: Will you really tear down that wall to make a master suite or gut the entire kitchen to make it work for you? Don’t let too much HGTV and delusions of grandeur drive you to buy an ongoing project you’ll regret taking on.

Have money for a down payment:  FHA financing requires 3.5% down, Insured Conventional 5 or 10%, Conventional 20%.  Anything less than 20% down and you’ll pay private mortgage insurance (aka PMI) payments and a higher monthly mortgage payment overall. It may be worth saving up for an extra year or two to reduce your long-term costs.  VA and USDA are 100% down programs, but make certain that’s how you want to go.

Make sure you are ready: Are you financially ready?  Are you ready emotionally? Are you sure you want to stay in this area for years? Does your income feel stable? Are you prepared to take on all that yard work and the repairs you avoided as a renter?

Think you are ready?  Time to call in the experts and find a realtor!  Call or text me at 317-919-7931 or email at vlrrealestate@gmail.com…I’m looking forward to hearing from you!

Buying a house

Vicki Reed

 

 

Booze at the State Fair…

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For the first time in 67 years, alcohol is being served at the Indiana State Fair…in an exhibit hall behind the fried food and lemonade stands and across from the Coliseum, the new Indiana Beer and Wine Exhibition at the Indiana State Fair isn’t the spectacle of stumbling drunks opponents expected.

There are strict drink limits, those who wish to partake purchase wristbands with three detachable drink vouchers to spend as they please.  The choices are simple, a drink consists of a 12-ounce glass of beer, a 5-ounce glass of wine or four smaller samples of beer or wine for those who want to try a variety.

The exhibit is a showcase of Indiana’s local breweries and wineries.  The offerings change from day to day, as Indiana breweries and wineries take alternating turns in the spotlight and the exhibit is geared toward a casual audience…sweeter wines and crowd-pleasing brews geared toward those who have never tried a craft beer.

Most are giving the exhibit rave reviews, the only negative I’ve heard is that there isn’t enough seating!

The state’s reluctance to serve alcohol may have been a blessing in disguise, the key to lifting the ban was that the product’s would all be from local, Indiana based wineries and breweries…no international brands allowed.

This is supposed to be an exhibit, apparently the “exhibit” leaves something to be desired on education, some servers offer in-depth explanations of their offerings; others don’t. There is a trough of hops in the entry and a teaser to a Prohibition exhibit at the Indiana State Museum but little else on display.

What do you think?  The Indiana State Fair is supposed to be about Indiana and with the increasing numbers of wineries and breweries, I think it’s a brilliant way to showcase these tax paying employers and hopefully increase their business which can only improve the economy over time.  Would love to hear from you!

Vicki Reedbeer and wine

In case you missed it…

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Tired of panhandlers, not only downtown, but at stop lights?  Check out this great column by Abdul-Hakim Shabazz (been a fan of his since his days on 1430 am when it was news radio), he always has a great take on Living in Indy…

Abdul: Turned down by Indy’s stingy panhandlers

Abdul-Hakim Shabazz2:19 p.m. EDT July 22, 2014

Panhandlers in Downtown Indianapolis are some of the most stingy people I have ever met.

I’ll give you a second to catch your breath.

Yes, I accused Downtown panhandlers of being stingy. Allow me to explain.

As someone who works and frequently plays in the Mile Square, I come across panhandlers every day. They include the “physically disabled” woman outside of Starbucks on Monument Circle who manages to haul around a shopping cart full of her stuff, the guy who has been trying to get enough money for gas so he can get his family stuck on the Eastside to Memphis, and the two guys who are “broke and homeless” but talked about their cellphone plans when they didn’t think anyone was listening.

There is nothing more annoying than trying to enjoy a meal, cigar or just some quiet time and have people come up to ask for money. And since the City-County Council Democrats continue to block any meaningful proposal to get these guys off the streets, I decided to take matters into my own hands. I decided to turn the tables on the panhandlers and start asking them for money.

Now I had a couple of ground rules. I would not approach anyone who was just holding a sign. Instead, I decided to approach only those panhandlers who either walked up to me and asked for money or solicited cash when I walked by them. And I would ask for money only once it was clear that’s what they wanted.

It was a fantastic experiment.

On the first day, as I sat on the veranda at Nicky Blaine’s on the Circle having a cigar and cocktail, the first panhandler approached me. He went through the usual spiel and right before he asked for money, I interrupted and asked him for a dollar. His jaw dropped; so I asked again. He told me he didn’t have any money to give, and I told him that makes two of us. He walked away bewildered.

On the second day, I was approached by a young guy who is always on the Circle selling candy. Every day it’s a new organization that he’s selling candy for; unless the line he’s using that day is that he’s selling the candy to pay for summer classes at college.

As I walked by, he asked if I had money to buy candy. I told him I didn’t, but could he float me a couple of bucks so I could get lunch? He told me he didn’t have any money. I told him that he must be a horrible salesman to have been out on the Circle all day selling candy and not have any money.

That story repeated itself, no matter how many times I asked panhandlers for money. The answer was always no. One even went so far as to curse me out. He sounded like something out of an old Redd Foxx comedy bit.

What fascinated me the most was the fact that people who spend all day begging others for money had the nerve to get mad when someone did it to them. So maybe that’s the way we should deal with Indy’s panhandling problem: simply ask them for money.

Maybe they’ll get tired of us panhandling and then they will avoid Downtown so the rest of us can enjoy it. Just a thought. By the way, you got a dollar you can spare?

Shabazz is an attorney and the editor and publisher of IndyPolitics.org. Email him at abdul@indypolitics.org.

downtown

Vicki Reed

Just a little funny to make you smile…

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Read this on Facebook last week and it made me smile, thought I would share…from The San Francisco Globe

THE SHOEBOX

A man and woman had been married for more than 60 years. They had shared everything. They had talked about everything. They had kept no secrets from each other except that the little old woman had a shoe box in the top of her closet that she had cautioned her husband never to open or ask her about.

For all of these years, he had never thought about the box, but one day the little old woman got very sick and the doctor said she would not recover.

In trying to sort out their affairs, the little old man took down the shoe box and took it to his wife’s bedside. She agreed that it was time that he should know what was in the box. When he opened it, he found two crocheted dolls and a stack of money totalling $95,000.

He asked her about the contents.
‘When we were to be married,’ she said, ‘ my grandmother told me the secret of a happy marriage was to never argue. She told me that if I ever got angry with you, I should just keep quiet and crochet a doll.’

The little old man was so moved; he had to fight back tears. Only two Precious dolls were in the box. She had only been angry with him two Times in all those years of living and loving. He almost burst with Happiness.

‘Honey,’ he said, ‘that explains the doll, but what about all of this money? Where did it come from?’

‘Oh,’ she said, ‘that’s the money I made from selling the dolls.’

crochet dolls

 Vicki L. Reed

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My friend Heather Swank owner of Brookson Insurance Posted this on her blog…you really need to think about this!

What Is Going On With Home Deductibles????

Did you get a letter with your home renewal this year forcing you into a higher deductible or a % deductible for wind and hail damage?  Be aware this is happening all over Indiana.  This year make sure you review your renewal for any changes like this.  
There are some basic facts surrounding these changes.  I know rates have been enough, but these changing deductibles are an attempt to change the face of home insurance in Indiana.  Indiana has seen consistent storm damage for fifteen plus years.  Each hail event we have results in millions of dollars in damage not to even begin wind, lighting, and tornado damage.  Hurricanes are no longer the big boys of catastrophe claims in the US hail has become the mass producing damage maker.  It’s because it hits every single day through storm season somewhere and now even beyond.  Late fall tornadoes, unexpected ice damage from harsh winters, and then right back into our storm season.  This has forced insurance carriers to raise pricing just to literally keep their heads above water.  On average in the US there are 12,000 hail events each year costing upwards of a billion dollars per year in damages.  Let me ask how many people have actually paid themselves out of pocket to replace their own roof on their home?  Yeah, it rarely if ever happens after so many years a storm blows in and poof a new roof.  The fact is most roofs being replaced should have been replaced by the homeowner well before that storm came along because of age and that is maintenance which is not the intention of the insurance policy to cover.   It has become an expectation of the homeowner that the roof will always be replaced and that is just not anything you will ever have to do.  This cost, the cost of replacing worn out roofs that should have been replaced far before a stone of hail came along, that is why the cost of insurance is skyrocketing. Be prepared for changes, but also be aware not all carriers are making those changes.  When shopping ask is there a higher wind hail deductible?  Or is there a % deductible for wind hail.  The % deductibles are often 2% sometimes higher.  What that means is that whatever your home is insured for the “dwelling” your deductible would be 2% of that. So, if your dwelling is insured for 260,000 then your wind hail deductible would be $5,200.   I know it seems as though the insurance world is a big evil machine when we pay our bills and never file claims, but it really is not.  Hey, I am an insurance agent and I still hate paying my premiums but I do so because I know I’m sharing risk so that when my time comes my claim will be paid.   These storm patterns we experience now are only getting worse so buckle up it will keep getting more expensive and it will keep changing.  I’m a proud insurance agent who fully understands the product and grasps how beautiful it really is.  We all pay in and when a family experiences a fire and loses everything they had in life you see the product in action.  It’s amazing life begins to rebuild and without insurance that would never happen.  A family could be financially devastated if they suffered a severe loss without it.   I remember standing on a slab in Kansas City in 2001 after tornadoes blew through and more coming literally every night.  I am a former claims adjuster I was dispatched there for claim work for 4 weeks.  Standing on the slab of what had been a home 48 hours prior I saw an American flag stuck to the only remaining portion of a wall.  In that moment I knew I was in the right field and kept on working claims until each family had been taken care of.  Today I watch out for insured families. This change in home insurance pricing and deductibles is the most major change I have seen in my career.  My lead carrier Erie Insurance has chosen NOT to create higher deductibles for wind or hail, nor are they applying % deductible.  Your regular deductible is what it is.  If you experience anyone stressed about the forced higher deductibles pass my agency name along.   Buckle up storms are upon us.  I’m here as always for any questions.   Heather Swank Brookson Insurance  317-534-5202 Heather@brooksoninsurance.com
Brookson
Vicki Reed

NCAA Coaches live where???

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Ever wonder where some of the NCAA coaches call home?  Think they live like we do?  Not really!  Early out in the NCAA offers them an opportunity to head to one of these great homes – MSN shares this slide show by Neal J. Leitereg of realtor.com:

March Madness mansions: Homes of college-hoops coaches

By Neal J. Leitereg of realtor.com

With its mix of powerhouse programs and Cinderella schools, March Madness energizes sports in a way that’s not quite like most events. At realtor.com, we’re pumped up from looking at the homes of some of NCAA basketball’s top coaches.

Take a look through the slide show below and tell us in the comments which coach’s home you would rank No. 1.

NOTE: All descriptive information comes from listings on realtor.com. Properties were on the market and listed as available at the time of publication in March 2014 unless noted otherwise.

Most people I know are likely most interested in Rick Pitino, Tom Izzo and Steve Alford’s homes, but I find the pricetags astounding!  And the square footage – who really needs 10,000 square feet!  Click through the slideshow to find out!

Meanwhile back in the state of Indiana…yes, I know, none of our teams made it to the dance this year, the spring market is really heating up, despite the fact we are in for a cold week ahead.  If you are thinking of buying or selling this spring, call, text or email me.

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Vicki Reed

Spring Selling Season Arrives Early!

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Winter finally seems to have broken and the temps seem to be on the upswing!  Homes in the hot areas are already moving quickly in the Indianapolis and surrounding areas.  If you’re thinking this spring is a good time to starting looking for a house, you aren’t alone. That’s the problem. Your dream house, which might have been easy enough for you to grab a few years ago, is being eyed by other potential buyers.

IT IS A SELLER’S MARKET!  Whether you are a first time buyer or a move-up/down buyer, you must have everything in order prior to viewing homes!  Gone are the days of getting your financing in order after you found the home of your dreams, in order to make the home buying process run as smoothly as possible, follow these simple tips and LISTEN TO YOUR REALTOR!:

1. Get your financing lined up.  You may not worry about being turned down by the mortgage lender, but the seller doesn’t know that. The seller may also be in a hurry to hand you the keys. YOU HAVE TO BE PRE-APPROVED FOR YOUR MORTGAGE!  There are 2 numbers when you are dealing with your financing – first is the number your lender approves you for and second is the number you are comfortable spending!  The lender may say you can spend $300,000, but what does that mean to your monthly budget?  Working with a lender will help you decide what the right number is – contact Pat Hammer at Waterstone Mortgage and get started today!

2. Try to find out why the seller is selling. Buying and selling homes are emotional decisions, an emotional seller versus a nonemotional seller will react to different things.  If you have sellers who raised their kids in the house and lived there for most of their lives, they may appreciate a buyer who will do the same. Sending a personal letter with your offer may move you to the front of the pack!

3. Be flexible.  If you’re competing against other buyers, be as accommodating as possible.  Be flexible on closing dates and occupancy, the goal is for you to get the home of your dreams, and see number 1…a mortgage contingency allows buyers to back out of the deal if they can’t get financing for the house. Sellers don’t like mortgage contingencies – they don’t want to wave off potential buyers only to learn that their buyer can’t actually purchase the house.

 4. Sweeten the deal.  In a hot market, it is not uncommon to offer over list price, how much more is up to you, but even another $500 might get the seller’s attention.  You could also consider waiving the appraisal. That means if the bank determines the house isn’t worth the purchase price you and the seller agreed to, and it won’t lend you all of the money to cover it, you’ll have to make up the difference – provided you have the funds, of course.

5. Be fast. This is a big decision and you likely don’t want to rush, but if you know you can afford the house and you love it and the neighborhood, then, yes, you probably should rush.  In an age of instantaneous communication, minutes count and can make the difference between an accepted or rejected offer.  Make certain your agent uses the most current technology such as electronic signatures, in order to ensure immediate responses.

6. Be bold. If you really want the house, don’t get too cute and make a lowball offer, thinking there will be a lot of negotiation. You should suggest something close to the price the homeowner is expecting, or risk your offer being ignored. And this isn’t the time to be petty – or cheap, don’t haggle over $500 on a $200,000 deal.

7. Provide good customer service. Wait, isn’t that the seller’s job? You would hope so, but in a competitive market, it comes down to thinking of the homeowner as your customer. You’ll get his business (well, the house) if you’re personable, easy to work with and able to offer a good deal. Of course, you want to make sure you don’t offer the seller such an amazing deal that you hate yourself the day after closing. You want the welcome mat – what you don’t want is to be a doormat.

I can help you meet your goals and provide excellent guidance through what is one of the most important purchases of your life…call, text or email me!

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Vicki Reed

Time for the Men’s Big Ten Tourney…

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…and we are hosting it right here in Indy!  Are you going?  As an Indiana fan, I’m disappointed in their performance this season, but I am not a fair weather fan and will continue cheering them on despite their record this season.

2014 is the ninth time Indianapolis has hosted the Tourney and the first game tips off at noon on Thursday with 8th seeded Indiana taking on 9th seeded Illinois…click here for the brackets to follow all the games!

The Big Ten Men’s Basketball Tournament has only been around 16-years, sellout crowds, exciting and competitive games, national television coverage and throngs of media have been highlights of past years tournaments.  Since the beginning of the tournament, the Big Ten has  has had 6 teams crowned champion. Ohio State leads all Big Ten schools with 4 (2007, 2010, 2011, 2013), followed by Michigan State with 3 (1999, 2000, 2001). Illinois 2 (2003, 2005), Iowa 2 (2001, 2006) and Wisconsin 2 (2004, 2008), and Purdue 1 in 2009.

Just remember, while each team participates in the tournament and the winner receives the conference’s automatic bid to the NCAA Tournament, but the team (or teams) that finish at the top of the regular-season standings is the Big Ten Champion. The bracket is seeded according to the final regular-season standings with the conference champion earning the top seed and the top four finishers receiving first-round byes.

Not going to the games, you can find the games covered by 4 different networks.  BTN will carry the opening 2 games as well as 2 primetime games on Friday.  ESPN2 will cover Thursday’s primetime matchups, ESPN will carry Friday’s afternoon games and CBS Sports takes over on Saturday for the semifinals and Sunday’s championship game.

So…are you going to the Fieldhouse to catch your favorite team?

big10-m-baskbl-tournament-1314-2

Vicki Reed

Wow…it’s the end of 2013!

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So what did you accomplish in 2013?  I had my best year to date in Real Estate and am moving into 2014 with 4 active listings, 2 pending sales and 2 active buyers!  My volume as a single agent was $2.5 million in homes sold!  I want to double that in 2014…anyone want to take a bet on it?

The biggest deal for me personally is one of the pending transactions (and one I’ve mentioned several times) and that is the sale of my Grandparents farm.  The last few weeks have been challenging as we remove my family‘s stamp on the farm and ready it for the new owners…the main reason I’m so excited about this is that it removes a worry from my Dad and Uncle Bob and takes a responsibility off their already full plates.

This year has been challenging in other ways, I found out that I’m going to be a Great-Aunt…yeah, I already know that I’m a great aunt, but my beautiful niece Jordan Pyles is expecting March 25…we have a family pool going for date, weight and length…hope I win!  Jordan also completed her high school education in December and will go through graduation ceremonies with the rest of the class in June.

I’m working on selling my home, haven’t quite accomplished it yet, but I know I don’t want to carry the burden of that too big house for another year.  I’ve paid off debt and am working through the Dave Ramsey Total Money Makeover…by the end of 2014, I will be debt free and living a cash based lifestyle – so excited about the next chapter in my life.

What’s amazing to me is that I will turn 50 in August of 2014…I remember when 50 seemed so old, now it feels very young!

2014 is going to be an amazing year for all of us and for the first time in a very long time, I’m babysitting on NYE – well, they aren’t babies, they are 11, hanging out with Riley Ray tonight and one of her friends while my sister and brother-in-law go out for a few hours!

So for 2014, the family will have a new baby, 2 high school graduates (Allyson is graduating too!), my 50th birthday and my Dad’s 75!  Sounds like a good year already and it doesn’t start until tomorrow. Happy New Year everyone, I hope your 2013 was great and your 2014 will be even better!

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Vicki Reed