Real Estate Information Archive

One of the most frequent objections I hear during listing appointments this time of year are the Holidays. Holidays don't need to stand in the way and can actually be a great time to sell a home. Here are 12 benefits to selling your home this holiday season.

12. By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when many morehouses are on the market for less money! This will allow you to sell high and buy low!

11. You can sell now for more money and we will negotiate for a delayed closing or extended occupancy until early next year

10. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the holidays

9. January is traditionally the month for employees to start new jobs. Since transferees cannot wait until spring to buy, you need to be on the market during the holidays to capture that market

8. Some people must buy before the end of the year for tax reasons.

7. Buyers have more time to look for a home during the holidays than during the regular work week.

6. Buyers are more emotional during the holidays, so they are more likely to pay your price!

5. Houses show better when decorated for the holidays!

4. Since the supply of listings will dramatically increase in January or February, there will be less demand for your particular home. Less demand means more money for you!

3. Serious buyers have fewer houses to choose from during the holidays and less competition means more money for you!

2. In many areas the first time buyer tax credit has actually created a shortage of homes in certain price ranges which is causing a noticable increase in sales prices right now. This means more money for those who act now!

1. People who look for homes during the holidays are more serious buyers!

If you are considering selling your home in Carmel, Fishers, Noblesville, or the north side of Indy, call the Borushko Team to get the facts on the real estate market in your area today!

If you are a potential home buyer in the Indianapolis area and are thinking about buying in the spring, you may want to re-consider your timing. I know what you're thinking...as a real estate agent of course I would say this is a great time to buy. There are facts however that can't be overlooked and should be considered.

• First Time Buyer Tax Credit has been Extended. Buyers must have an agreement prior to April 30, 2009 in order to qualify.
• Interest Rates are incredibly Low
• Builders are desperate to sell their current inventory.
• Sellers who are on the market now need to sell and may be more inclined to negotiate

We only need to look at the housing market for October and November of this year to see what happens to housing prices when outside factors (First Time Buyer Tax Credit) influence demand in the housing market. Buyers who waited until September and October to begin their home search were greeted with less homes to view and more competition. In many cases they ended up paying significantly more than they would have just 2 months earlier. In Carmel for example, the home prices in the 200-300K price range rose nearly 4 percent in those few months.

Waiting until spring means you will be competing with many more buyers for the same houses. More buyers means more demand. More demand leads to higher home prices. So if you are considering buying in the spring but can buy now, this is the season with the greatest opportunity. As full time agents in Fishers, Carmel, Noblesville, and Indianapolis the Borushko Team will be working throughout this incredible season. We have extensive knowledge of the market and 15 years experience working with builders. We would love the opportunity to put our knowledge and experience to work for you!

National statistics show that nearly 1 in 8 mortgages across the United States are in some type of default (at least 30 days late) or are in the process of a foreclosure. Foreclosures can often be avoided. If you know of someone who is struggling, please pass this information along to them. Here are a few alternatives to foreclosure:

Foreclosure Avoidance Options

Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. The options available to residents for foreclosure are many, including but not limited to short sales. Following is a brief explanation of these solutions:

Reinstatement


A reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale.

Forbearance or Repayment Plan


A forbearance or repayment plan involves the homeowner negotiating with the mortgage company to allow them to repay back payments over a period of time. The homeowner typically makes their current mortgage payment in addition to a portion of the back payments they owe.

Mortgage Modification


A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically result in a lower payment to the homeowner and a more affordable mortgage.

Rent the Property


A homeowner who has a mortgage payment low enough that market rent will allow it to be paid, can convert their property to a rental and use the rental income to pay the mortgage.

Deed in Lieu of Foreclosure


Also known as a 'friendly foreclosure,' a deed in lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process. Lender approval is required for this option, and the homeowner must also vacate the property.

Bankruptcy


Many have considered and marketed bankruptcy as a 'foreclosure solution,' but this is only true in some states and situations. If the homeowner has non-mortgage debts that cause a shortfall of paying their mortgage payments and a personal bankruptcy will eliminate these debts, this may be a viable solution.

Refinance


If a homeowner has sufficient equity in their property and their credit is still in good standing, they may be able to refinance their mortgage.

Servicemembers Civil Relief Act (military personnel only)


If a member of the military is experiencing financial distress due to deployment, and that person can show that their debt was entered into prior to deployment, they may qualify for relief under the Servicemembers Civil Relief Act. The American Bar Association has a network of attorneys that will work with servicemembers in relation to qualifying for this relief.

Sell the Property


Homeowners with sufficient equity can list their property with a qualified agent that understands the foreclosure process in their area.

Short Sale


If a homeowner owes more on their property than it is currently worth, then they can hire a qualified real estate agent to market and sell their property through the negotiation of a short sale with their lender. This typically requires the property to be on the market and the homeowner must have a financial hardship to qualify. Hardship can be simply defined as a material change in the financial stability of the homeowner between the date of the home purchase and the date of the short sale negotiation. Acceptable hardships include but are not limited to: mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation, and more.

This represents only a summary of some of the solutions available to homeowners facing foreclosure. Locate a CDPE in your area for an evaluation of your individual situation, property value, and possible options.

Understanding your options now could mean all the difference in the world.

For more information on the alternatives availiable to you, please visit www.indianapolisavoidforeclosurenow.com or call a member of our team.

The Borushko Team, Carmel Indiana Real Estate Agents with Keller Williams Realty Offer Staging Advice for Home Sellers.

The growing popularity of HGTV has raised awareness for most people that staging a home is beneficial for selling a home. Staging absolutely helps, but how much and where do you start?  What if you don't have an unlimited budget? Hopefully this infomation will help!

Staged Homes Sell Faster. In a recent study conducted by Keller Williams Realty, staged properties sold in 1/2 the time and averaged 6.3% higher sales prices than homes that weren't staged. These statistics are very significant and show the importance of showcasing a home. The good news is that it isn't necessary to hire an interior decorator to make a significant impact. 

The buyer experience determines your staging priorities. If you don't know where to begin, employ the 3P 2F formula and you'll be on your way to a successful sale.

Plantings - Curb Appeal is the first impression your potential buyers will have. Is the grass green, bushes trimmed, mulch turned and fresh, and are there flowers? A little money in landscaping makes a huge difference!

Painting - A little color is ok, but a fresh coat of paint in a warm neutral tone will help a home feel more inviting and cleaner. And color continuity throughout the home will halp the flow of the home and make it feel larger.

Pictures - A few nice pictures placed in strategic places can be welcoming. Too many pictures makes the walls and home feel cluttered. Remove pictures of your family and religous references if at all possible. Your buyers will be more comfortable if they can "picture" themselves in your home rather than seeing evidence of you there.

Fixtures - The lighting and plumbing fixtures in your home make a big impression on your buyers. Lighting fixtures are relatively easy and inexpensive to replace and help remove the dated feeling a buyer may get walking through your home. The plumbing fixtures definitely need to be in good working order and should look new. Spending money in these 2 areas will quickly help your home compete with newer homes!

Furnishings - You are trying to sell your home, not your furniture. In order to sell your home for top dollar, prospective buyers need to see as much of your home as possible...they need a place for their stuff. In order to make your home feel as big as possible you should remove any furniture you aren't using, or any furniture that isn't in good condition. The same applies to books, knick-knacks, etc. If you don't need it, remove it, and your home will feel much larger to buyers.

If you are selling a home in the Carmel Indiana area, Becki Borushko of The Borushko Team is a certified stager. Our team of professionals would love to help you with your home selling needs!