Tag Archives: indianapolis

Are you ready to run????

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May is upon us…and that means Indianapolis 500 Festival, kicked off by the Mini Marathon tomorrow morning at 7:30.  The OneAmerica 500 Festival Mini-Marathon is the nation’s largest half-marathon with 35,000 participants and has sold out for the past 11 years…really…35,000 people running and walking this race, I applaud the drive and stamina it takes to complete this feat, but it isn’t my cup of tea!

One of my favorite memories of working downtown for the once Bank One (now Chase) Corporation was when the Mini was held on Friday mornings.  The race started at Meridian and Ohio streets and I worked in the Bank One Tower, getting to work was sometimes challenging, but the sight of the runners filling at least the northern half of the circle and funneling North on Meridian to the starting line at Ohio was beautiful…and when the race started, watching the mass of people move North on Meridian and slowly start spreading out…it was great!  I am surprised however that the Bank One Tower didn’t fall over as nearly everyone on the 48 floors was on the West side of the building watching the spectacle!  Bob and Tom would broadcast from the pool deck at the Hilton (now Radisson) on the corner…some great memories!

Now the course has changed, it begins near the intersection of Washington and West streets, heads west toward the Indianapolis Motor Speedway along Michigan Street and does a complete lap around the 2.5 mile track before heading back down New York Street to the finish line.  Because of the horrific events at the Boston Marathon, there are more stringent security measures in place, click here to view the most up to date information.

There are so many things happening this month, what events will you participate in?  Let us know!

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Vicki Reed

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

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

Ever been to Alcatraz?

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Not as a resident, as a visitor!  I had the pleasure of visiting shortly after the movie “The Rock” was released…very cool, driving my friend Cullen crazy because I kept saying “Sean Connery stood here”  “Nicolas Cage stood here”!  He finally paid for the audio tour so he couldn’t hear me anymore!  As of yesterday, Alcatraz has been closed for 50 years and I still find it’s history fascinating!
On Thursday, the National Park Service unveiled an exhibit of newly discovered photos that depict new details about the final hours of Alcatraz.  The images were taken on the day infamous prison was closed after holding an impressive selection of criminals including gangsters Al Capone and Mickey Cohen, but did you know there were other residents on the Rock?
Workers on the Rock actually lived there too!  The warden and other prison personnel lived there, raised their families there…can you imagine being a kid on Alcatraz?

The images will be on display for at least the next three months and have evoked a swell of emotion for people who lived on the island during its days as a prison.  Jan Peters, 62, was the last child to leave the site of the island prison. His father, Arnold Peters, had been in charge of relocating the inmates to other federal prisons.  At the unveiling on Thursday, Peters said “I’m realizing that we were a part of American history,”  Peters and former Alcatraz resident John Brunner, whose father was the prison’s electrician, said living next door to the country’s most dangerous criminals was ideal.  They never saw the inmates and had world-class views, fishing and friends.  “It was fantastic to live here. We never had to lock our front door,” Brunner said with a chuckle.  Click here to read the full story on MSN.

How would you feel about growing up in a prison?  While we don’t have that opportunity here, there are a lot of unique properties in our own city for you to call your own!  Ready?  Call me, text me, email me and lets get to work finding them!

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Vicki Reed

Which Way Did They Go?

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It’s March Madness…where did your favorite team end up?  For those of you who are friends and/or regular readers, you might have surmised that I am an avid (or is it rabid?) Indiana University Hoosiers fan and am excited they are headed to Dayton for the first round, but sad that for Regional play they will be headed to DC instead of Indy.

Do you know that the day before the games start in your location, each team takes the floor for 50 minutes of practice and that these are FREE AND OPEN TO THE PUBLIC?  Regardless of who is playing in Indy, we have always gone to these practices and with the advantage of Indy hosting the final four and regional play on a regular basis, we have had the opportunity to watch a lot of really great teams over the years.  The last time Indianapolis hosted a Final Four, Butler was in the Final Four and it was estimated that 40,000 people came to open practice that day!  Indy generally has an abundance of people at these free practices, but the Butler Bulldogs added about 12,000 to the usual crowd.

So who do you think will win?  I do 2 brackets, the first based in reality and the second based on my heart…which means all of my favorite programs win!  So go ahead…fill out those brackets, no one is working today anyway…who do you think will be meeting in Atlanta?

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Vicki Reed

Want to move to Irvington?

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I have a client very interested in moving to Irvington – this area is ever evolving and very walkable which is on a lot of people’s wish lists these days!  Housing is reasonably priced, including some really good deals on 1700 square feet townhomes in a Coop neighborhood – I know, you say a “coop” my thoughts automatically goes to New York and those expensive apartments on Central Park!  If you google “co-ops in Indiana“, you get grain and bean coop or food coop.  This will be a learning experience that I will happy share with you as we move through the process…but now back to Irvington.

Irvington was originally a suburban town in 1870 but was annexed into the City of Indianapolis in the early 1900’s.  The original plat of Irvington includes a winding picturesque street plan, very different from Indianapolis’ grid layout.  Irvington today has more lineal blocks of brick streets than any neighborhood in the city, and its naturalistic plan is considered Indianapolis’ largest and most developed example of Victorian Romantic landscape design.

In 1873, the area was selected as the new location for Northwestern Christian University, later renamed Butler University.  From 1875-1928, Butler developed a campus in Irvington, which subsequently promoted a college town atmosphere throughout the community. Although most of the campus buildings are gone, except the Bona Thompson Memorial Library, the intellectual spirit is still reflected in Irvington’s many association and groups.

Want to move to Irvington?  Click here to check out available homes everything from $8,000 to $260,000, sign up on my website and let’s get started!

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Vicki Reed

Multiple Offers on the Home of your Dreams?

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Oh No!  You’ve found the home of your dreams and so did someone else!  We are starting to see multiple offers on homes in the Indianapolis area…why you ask?  Inventory is low and homeowners are listening to their Realtor about the true Fair Market Value of their home and pricing it to sell!  What can you do to be ready to win the bidding war?   Here are a few boot camp tips to prepare you to win:

Pre-Qualify with a Lender who will be available when you need them

To compete, Buyers need to be prepared financially for the home purchase. Offering the most money might seem like the best way to win, however, Sellers don’t always choose the highest offer. Instead, they often prefer offers that are most likely to go through and that meet their conditions. You need a Lender who doesn’t work Monday through Friday and turn off the telephone and email at the end of the business day.

The Shanley Team at Inlanta Mortgage is just such a lender, take a look at my post “The Power in the Pre-Qual” to get a real understanding of their level of Customer Service AND they work when I do, which means they are available when YOU need them!  Having that pre-qualification is almost as good as cash in multiple offer situations.

Offer Higher Earnest Money 

Earnest Money in Indiana is typically .75% to 1% of list price, so if you are offering on a $200,000 home, $1,500 or $2,000 would be normal…but if you offered a $5,000 check (remember, it will be cashed!) AND you were pre-qualified this can sometimes impress the Sellers.  Just make sure you are able to fully meet all deadlines and terms of the contract so you don’t lose your deposit.

Be Flexible!

If the Sellers are building a home or waiting for the school year to end before moving and thought it would take longer to sell their home, consider offering to allow them to stay – a post closing rent back can put you ahead of the pack if you can be flexible!  I represented a Seller who was building a home and because the  Buyer was flexible with possession date (Sellers were able to close and continue to live in their home for 3 additional weeks) the Sellers agreed to a purchase price $5,000 less than they wanted because they didn’t have to move twice and find short term housing!

Listen to your Realtor!

As your Agent, I am working for you to make certain you don’t get caught up in the excitement of a bidding war and overpay for a home…let me do the best job possible for you!  Think you are ready to head out and start looking?  Let’s talk!

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Vicki Reed

“Hoosiers” on the big, big, big screen!

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A great way to celebrate March Madness in Indiana and support a great organization…

A Benefit for Heartland Truly Moving Pictures 

Join Heartland as we celebrate the Indiana Basketball Hall of Fame’s induction of screenwriter/producer Angelo Pizzo and director David Anspaugh, the creative team behind the Truly Moving Picture Award-winning film “Hoosiers,” at a special screening event on Sunday, March 17.

For those few out there not familiar with the film, “Hoosiers” is a (1986) sports film about a small-town Indiana high school basketball team that wins the state championship and is loosely based on the Milan High School team that won the 1954 state championship.  Growing up in Southern Indiana, the Milan story is legend, for those in Indianapolis, if you haven’t, check out Plump’s Last Shot for more history.

Join me and hundreds of others as we support the Heartland Film Festival and enjoy a great film, make it another great way to celebrate basketball in the great state of Indiana!

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Vicki Reed

Dinner and a play…for $24!

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Last weekend I had the pleasure of attending the annual University of Indianapolis Dinner Theater production of “I Hate Hamlet” and you still have the chance to go!

At a cost of only $24 per person (over 60, additional discounts available!), February 22-23, 2013, Dinner at 6:45 p.m., Performance at 8:00 p.m. in the Schwitzer Student Center Dining Hall.  Good Food and Great Entertainment:

I Hate Hamlet

A young and successful television actor relocates to New York, where he rents a marvelous, gothic apartment. With his television career in limbo, the actor is offered the opportunity to play Hamlet onstage, but there is one problem: he hates Hamlet.

We have been attending these dinner and performances for years and have always enjoyed them, reality is that this is less expensive than dinner and a movie!  It is a student production, from the direction to sets, dinner and servers…take a chance and enjoy a great evening!

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Vicki Reed

Downtown Winter Dining on a Budget!

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It’s that time again…Devour Downtown!  Held semi-annually, Winterfest is January 21 – February 3, this event encourages us to savor fare from more than 50 downtown restaurants and get special deals from entertainment venues and attractions including the Indianapolis Symphony Orchestra, Indiana Ice and many more! For more information and a list of participating restaurants and their special menus, visit http://devourdowntown.org.

How about topping the evening off with a carriage ride?  Yellow Rose Carriages are at your disposal to take you on a horse drawn carriage tour of Indianapolis.

Rather stay indoors?  Retreat to one of the many live music venues in downtown…Blues?  Slippery Noodle Inn is Indiana‘s oldest bar, and home of the Blues in Indiana features live local, regional and national Blues seven nights a week.  Prefer Jazz?  Check out the Chatterbox Jazz Club in the heart of the Mass Ave Arts District hosts live, local jazz seven nights a week!  Sing-a-long?  Try Howl at the Moon for a night of dueling pianos and high energy singing.  The list goes on and on…

Want to live downtown in the midst of all this energy?  Let’s talk!  Downtown has a variety of properties, starting as low as $60,000 all the way to $2,790,000…what’s your budget?  Check out my website to search for available properties!

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Vicki Reed