Thursday, July 28, 2005

Home Buyer Tip - Choosing a Neighborhood

Where you live is as important as the house you live in. Consider these items when organizing your list of preferred neighborhoods.

1. Commute: Do I need a quick commute to work? Keep in mind short commutes limit your neighborhood options.
2. My personality: Do I prefer country, suburban or urban living?
3. Family: Is a certain school district important to me? Do I need to live near my elderly parents?
4. Downtime: Do I want to live close to my church or temple or have a short commute to night school?
5. Future zoning and development: Is the park behind my house going to be developed in the future? Does this small town have plans to build a mega-shopping mall?
6. Neighborhood age: What will a new neighborhood look like in 10 years? Am I satisfied with an older neighborhood, knowing it may not change much?
7. Time of day: Does the neighborhood feel the same at night as it does during the day? Is weekend traffic heavier than during the weekday?
8. Extra costs: Can I afford the county or city taxes or any homeowners' association fees?
9. Homeowners' Associations: What are the homeowners' association rules? Are they good for protecting home values?
10. Neighborhood investment: Have the homes in this neighborhood held or increased in value?

Need some help deciding? Let me put my knowledge of the local area to work for you.

Tuesday, July 26, 2005

Home Buyer Tip - Wants vs. Needs

Before you begin house hunting, create a realistic "shopping list" to narrow your search. Looking for a home can take time, especially if you have not focused on what is most important.

Create a "wish list" and a "must have" list. Many people focus more on "wants" than "needs." As a result, they sometimes reject homes that perfectly meet their needs in search of homes that meet their wants. That's not to say that you shouldn't try to get what you want – you should just be able to tell the difference between what you really need and what you would like to have.

Monday, July 18, 2005

Home sales and prices at record highs and rising

The National Association of Realtors (NAR) has forecasted an all time record in home sales for the year 2005 for both existing and new home sales.

The report concludes existing home sales this year will rise 2.8% to 6.97 million, while new home sales should increase 3.2% to 1.24 million. This year is also setting records with over 1.68 million homes plotted for new construction.

Why all the rapid growth?

The answers are simple: several homeowners are now able to achieve the American Dream due to the mortgage interest rates remaining lower than expected as well as the readily available low and no down- payment programs offering first time buyers who may not necessarily have money for an upfront payment more options. The employment rate is also beginning to grow.

There are drawbacks to an over stimulated market. The most notable problem is the shortage of homes available for sale as well as building material shortages. The shortages can prove to be a challenge for home buyers, builders and remodelers. The result can cause a rise in building costs and then ripple into higher home prices.

NAR expects the national median home price to rise 9.4% this year to $202,600 and new home prices to increase 5.8% to $233,900.

Wednesday, July 13, 2005

Indiana Facts:

In my recent search to better educate myself of the state I live in, I came across these fun facts that I thought might be of interest to you:

  • Indiana was the 19th state to enter the Union on December 11, 1816
  • State Bird: Cardinal
  • State Flower: Peony
  • State Motto: Crossroads of America
  • State Nickname: Hoosier State
  • State Song: On the Banks of the Wabash, Far Away by Paul Dresser
  • State Tree: Tulip Tree also known as the Yellow Poplar
  • State Flag: The state flag has 19 gold stars and a gold torch. The torch represents liberty and enlightenment and the rays represent far-reaching influence. The stars in the outer circle represent the 13 original states and the inner circle are for the next five states admitted to the Union prior to Indiana. The largest star above the torch represents Indiana. The flag was adopted in 1917.
  • Famous Hoosiers: John Cougar Mellencamp, James Dean, Larry Bird, Michael Jackson, David Letterman, Dan Quayle, James Whitcomb Riley, Wilbur Wright, and Bill Blass

Monday, July 11, 2005

Designed to Sell

If you are thinking of selling your home, I came across a great TV show that I highly recommend watching. It’s called Designed to Sell on the HGTV channel. The show gives contestants $2000 and with the help of a designer, they transform their home into a show piece. This is a great show to watch for inexpensive tips on organizing, decorating, and minimizing clutter to help your home sell quicker and at top dollar.

This is where some sellers fail in selling their home. Often times a little fresh paint, organization, and pre packing of your home can result in your home selling faster and for more money than the competition. Rooms with too much furniture can look larger if you remove a few pieces. Also, clearing the clutter and pre packing knickknacks and any expensive items you may own is highly recommended. Creating an open, bright area is the key objective here.

In today’s market, a buyer has several choices in homes; so isn’t it worth a weekend or two of hard work to get your home in a showing state?

Designed to Sell airs Sunday and Tuesday at 8pm est. on HGTV.

Tuesday, July 05, 2005

Let’s do the math…

Your auto mechanic holds a license.
Your hairstylist holds a license.
Your plumber holds a license.
Your Realtor holds a license.

So, why on Earth would your Home Inspector not hold a license? A Home Inspector’s report is one of the most relied upon pieces of information in the home buying and selling process.

The Sunday Indianapolis Star published an article about the new Indiana law that came into effect last Friday requiring Home Inspectors to hold a license. Indianapolis currently has only 60 licensed inspectors.

As a Realtor, I hold a license. I must renew my license every other year and in order to do so, I am required by state law to take 16 units of continuing education courses and pay a licensing fee. If I fail to complete these requirements, I will lose my license to sell real estate.

The idea that some Home Inspector’s are upset about this new law befuddles me. Why shouldn’t they been licensed? The salability of a home frequently depends on a home inspection…if a deal on a home is going to fail; it’s usually during the inspection period.

After all, you wouldn’t have your hairstylist fix your car…would you?

Friday, July 01, 2005

July’s Hot Pick’s

If sitting next to the air conditioner sounds a little boring, maybe some of these events might get your day, or night going…

July 1, Santana– If chillin’ under the starlit sky sounds good to you, then Verizon Wireless Music Center should be your destination tonight. Carlos Santana along with Los Lonely Boys, and his son’s band, Salvador Santana Band will be strumming some of the best Latin music around! Tickets: $38.50-$46.50 (pavilion) or $20.00 (lawn). Show starts at 7pm. Info: 317-239-5151

July 1-4, Glorious Fourth-This is my top pick for those having guests coming to town. This is the largest celebration held at Conner Prairie. Enjoy old fashioned ice cream while watching the marching militia, baseball games, and the reading of the Declaration of Independence. You can make this a full day by staying for Symphony on the Prairie topped off with their traditional fireworks show. Located: Conner Prairie, check for times. Tickets: $7 for children ages 5-12 and $11 for 13 and older. (Additional charges apply if staying for Symphony.)

July 7-17, Indiana Black Expo-This is another top pick on my list. Indiana is home to the largest African-American event in the country. Come enjoy a day of culture, music, arts, and more as the Black Expo celebrates its 35th year! Located: Indiana Convention Center and RCA Dome, times vary. Admission: $8 in advance, $10 at the door.
Info: 317-925-2702

July 9, Summer Latino Fun Fest-This is a great opportunity to spend the day with the family and learn about the Latin culture! The Latino Fun Fest focuses on fun for the entire family with food, vendors, live music, and a kids’ area. Located: New York and West Streets, Noon-Midnight. Admission: Free

July 21, Tom Petty and the Heartbreakers– Anyone to write a song about my hometown (San Fernando Valley, CA) is a winner in my heart! Join Tom and the crew along with opening band, Black Crowes (yes they are back together again) for a great night of rock n’ roll. Located: Verizon Wireless Music Center, 7pm. Tickets: $45-$58 (pavilion) or $28 (lawn) Info: 317-239-5151

July 16-24, RCA Tennis Championships– Okay, I work with a lady who takes vacation time off every year when the tennis championships come to town…this must be worth seeing! Unlike Wimbledon or the U.S. Open, the RCA Tennis Championships bring you up close and personal with the players. Located: Indianapolis Tennis Center, check for daily start times. Tickets: $8-$65 Info: 317-632-4100

July 20-24, U.S. Rowing National Championship Regatta- This year will mark the 134th running of the regatta. One unknown fact is that many of these competitors become Olympians! Over 1,200 rowers will be competing within four levels: elite, senior, intermediate, and junior. Located: Eagle Creek Reservoir, start time is between 8-8:30am. This event is free with paid park admission. Info: 317-237-5645

July 23-24, 50 Years of Car and Driver-If you’ve got the need for speed, this is your ticket. Car and Driver magazine will be kicking off their golden anniversary for a weekends worth of thrills. Public has opportunity to ride in a modern racecar (sorry guys, a professional driver will be driving..key word here is “ride”) There is also an opportunity to race against the editors of the famous magazine, Tony Swan, Larry Webster, and Patrick Bedard. Located: Indianapolis Raceway Park, check for times. Tickets: $15-$35. Reservations are required to race against the Editors. Info: 231-843-0622 x202