Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don’t have lasting value.

“It's all about family togetherness – casual living, entertaining and flexible spaces," says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable

Source: MarketWatch, Steve Kerch (01/30/2010)

3 HUGE Seller Mistakes

• Choosing an agent who tells you what you want to hear. Do not choose your agent because they tell you your home is worth more than any other agent. This is an unfortunate ploy by desperate agents who are looking to use your home to pick up buyers from sign calls. Look at the raw data regarding comps in your area. You should look at very recent sales (90 days or less) and also the homes you are competing with. Take your seller hat off and look through the eyes of a buyer and ask yourself if you would buy your home compared to the others. If not, than do not buy in to this ploy. In a declining market you will absolutely lose money by chasing the market downward.
• Choose an agent based on what they charge.  Do not confuse what you spend with what you net out of a sale. As in every business, it is your bottom line that truly counts.  There are great products for sale on the market that you've never heard of. They probably aren't paying much for their marketing efforts and aren't making a profit either.
• Base your decision to sell on future market values. No one can tell you what the future holds. We can all guess both short and long term and all be wrong. I hear that the housing market is improving on the news and the next week new construction starts were the worst in history. We saw a surge in first time buyers due to the ending tax credit while unemployment figures continue to rise. The point is you cannot count on values to be higher in the near future and shouldn't make a decision based upon that.

So now that we've established what not to do, what should you as a seller do when hiring an agent?

What to Do When Hiring an Agent

• Hire the agent who will tell you what you need to hear rather than what you want to hear. Yes it may be painful but it will result in your being able to move. That agent should be comfortable sharing with you raw data about the market which you can review together and make mutual decisions.
• Hire the best negotiator. You will know who they are when you ask them to reduce their commission. In this market negotiation takes place from the moment the home is listed until the moment it closes. A great negotiator will net you more money and help keep deals together.
• Hire a full time agent. In this ever changing market negotiating, inspections, marketing, and communication are more than full time jobs if done properly. Marketing a home takes a lot of time. Done right, it will expose your home to a far greater number of potential buyers. More potential buyers equals a better chance to sell you home at a higher price.  It takes a full time agent to properly keep up with our changing industry and handle the items mentioned above.
• Make your decision to sell based on your needs and affordability today. A decision to sell should be based upon what you and your family need. Waiting for the value of your home to go up also means your next home will cost more...they are tied together. A Decision based upon need and affordability will almost always provide you with better results than one based on trying to time the market.

Simply stated, applying the above information...a reality check if you will, will help you make more money when you go to sell your home. In fact it will often be the difference between selling your home or just being listed. And just being "listed" is not why you hire an agent in the first place.

If you are looking for a great agent to sell you home in the Indianapolis areas of Carmel, Fishers, Noblesville, or Westfield, the Borushko Team of Keller Williams Realty would love the oportunity to help. We promise to tell you what you need to hear and most importantly will net you the most money for your home!

Look Who's Buying Now

Buying a home can be a great investment and now is definitely a great time to buy if you're prepared. If you are looking to buy a home in Indianapolis, Carmel, Fishers, Noblesville, or Westfield Indiana, the Borushko Team is here to help. Please feel free to browse our website or call us at 317-843-8739. We are ready, willing , and able to help you find your dream home!

8 Steps to Buying Your First Home

The housing markets in Carmel, Fishers, Noblesville, Westfield, and Indianapolis continue to provide some fantastic opportunities. The looming deadline for the first time buyer tax credit will create a buying frenzy in March and April (read rising home prices in first time buyer price ranges). For those in that price range it would be wise to find your home now. 

The Borushko Team would love the oportunity to help you with your home search. Click Here to start a home search where the newest listings that meet your criteria come to you!

1. Tidy up kitchen cabinets.

"Potential buyers do open kitchen cabinets and look inside," says Morrissey. "Home owners can add rollout organizing trays so when buyers peek in, they feel like there’s lots of room for their stuff."

2. Add or replace tile.

"By retiling very inexpensively, you make a room look way cleaner that it was," says Javier Zuluaga, owner of Home Repairs and Remodeling LLC in Tempe, Ariz. "Every city has stores that offer $1 to $2 tile, so home owners have to pay only for the low-cost tile and labor to replace a dated backsplash or add a new one. We also use inexpensive tile to upgrade bathrooms."

3. Add a breakfast bar.

When a wall separates a kitchen from a family room, suggest cutting out an opening to create a breakfast bar. "In one home, there was a cutout in the wall between the kitchen and living room," explains Matthew Quinn, a sales associate at Quinn’s Realty & Estate Services in Falls Church, Va., who handles estate and real estate sales for family members whose loved ones have passed away. "We left the structure of the cutout, added an oversized granite breakfast bar, and put chairs in front of it. That cost about $600."

 4. Install granite tile instead of a slab.

"Everybody is hot for granite kitchen countertops, but that can be a $5,000 upgrade," says John Wilder, a general contractor and owner of Fence and Deck Doctor in New Castle, Ind. "Instead, home owners can put in 12-inch granite tiles for about $300 in materials and get very high impact for little money."

 5. Freshen up a bathroom without retiling.

"With a dated bathroom, I recommend putting in a new medicine cabinet for $100 to $150, light fixtures for about $100, a faucet for $50 to $75, and a vanity for $200 to $300," says Wilder. "And instead of replacing the tile, the existing grout can be lightly scraped and regrouted, which leaves a haze that can be buffed out and will make the tile look brand new. Also install glass shower doors. A French door adds a lot of panache and elegance for $250, and people will notice the door, not the tile. With all that, you’ve done a bathroom remodel for $1,000 to $2,000."

 6. Freshen up the basement.

"If home owners have cement block or poured concrete walls in the basement, suggest they have a contractor fill in cracks with hydraulic cement and then paint with waterproofing paint," recommends Wilder. "They can then add a top coat to add color. They can also paint the basement floor with a good floor paint, which spiffs it up. The basement may not be finished, but it’s no longer a damp dungeon."

 7. Add a room.

Look for large spaces that can be enclosed to create a new bedroom for just the price of creating a wall. "One time, we closed off a half-wall to an office and added a door to the other side of the room, thus creating another bedroom," says Quinn. "That $400 procedure, which took a contractor one day, netted about $40,000 in the sales price." Zuluaga has also added bedrooms inexpensively. "In a two-bedroom house, there was an archway that led to a third room that was used as a den," he explains. "It had a dry bar where there would have been a closet, so we took out the dry bar and created a closet so the owners had a third bedroom."

 8. Spruce up cabinet fronts.

Suggest home owners update tired-looking kitchen cabinets. Reconditioning is the least expensive move for under $1,000. "If the wood is starting to look shabby from use or contaminants in the air, we take out the nicks and scratches, recondition it with oil, and put new hardware on," explains Heidi Morrissey, vice president of marketing and sales at Kitchen Tune-Up in Aberdeen, S.D. For $1,500 to $4,000, owners can replace the cabinet doors and drawer fronts, and for $4,000 to $12,000, they can have all the cabinets refaced. "With refacing, owners can change the color of the cabinets by replacing the door and having a new skin put on the boxes," says Morrissey. "If they have oak cabinets today, they can have cherry the next day."

 9. Replace light fixtures.

"In a foyer and in bathrooms and kitchens," says Wilder, "replacing overhead light fixtures provides a lot of pop for a little money." If the kitchen has track lighting, Zuluaga suggests the home owner spend $450 to $600 to have an electrician replace it with recessed canned lights on a dimmer switch to add ambience. For about $700, Zuluaga also suggests installing pendant lights over a kitchen island or peninsula.

 10. Tech-up the garage.

"Sometimes we replace the garage door opener with a remote touchpad entry system," says Zuluaga. "That costs about $425 and makes it look like a high-end system."

Looking for more seller tips? Check out our seller tips at www.realestateproindy.com . The Borushko Team of Keller Williams Realty is available to answer any questions you may have about selling your home in the Indianapolis Area!

More Existing Homeowners Move up in November

By AUSTIN KILGORE
December 21, 2009 11:12 AM CST

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The $6,500 homebuyer tax credit is getting existing homeowners off the fence and to the closing table, according to a Campbell Communications monthly survey of real estate market conditions.

Existing homeowners accounted for 41% of home purchase transactions in November, up from 38% in October. First-time homebuyers decreased from 47% in October to 45% in November, and investors’ share of activity declined 1% to 14% in November.

“Our survey statistics are showing the effect of Congress’s delay in extending the homebuyer tax credit and then its eventual extension,” said the study’s research director, Thomas Popik. “The first-time homebuyers started to lose interest in October when it appeared that Congress wouldn’t extend the credit. When the credit was finally extended in early November, current homeowners jumped at the new opportunity for a tax credit on their home purchases.”

Activity in the non-distressed market also increased. The share of non-distressed houses purchased jumped from 58% in October to 63% in November. Existing homeowners tend to purchase non-distressed properties, the firm said.

The market report is a survey of 1,500 real estate agents across the US.

 

For many Americans, a home is still where the heart is this holiday season. According to a recent survey, a new house was the most popular item on consumers' holiday wish list and the home was the place they most wanted to spend their time during the holidays.

The study conducted on Weichert.com polled visitors to their site and found that 51 percent would choose a new house if they could have just one holiday wish granted this year, while 21 percent would wish for a new car. Surprisingly, despite today's challenging job market, only 14 percent had a new job at the top of their list.

For people in the Indy area, the news keeps getting better...Indy was just announced as the most affordable major city in the US by money Magazine!. This holiday season buyers will also find low interest rates, and a first time buyer tax credit for first time buyers and current homeowners as Incredible Stocking Stuffers which you can hang by your new fireplace!

For those buyers in Carmel, Fishers, Noblesville, and the Northern Indianapolis areas, the Borushko Team will be working during the holidays to help your housing dream come true. 

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!

Serious about selling your home? Before you sign anything, read about these common mistakes that home sellers make:

1. PRICING TOO HIGH: It's no secret, price is everything. Overpricing does more to discourage buyers than any other single factor. When you overprice, you put your home in competition with homes that may be newer, larger or have more amenities than yours. You help your competition sell their home. This leads to long days on the market, and costs you, the seller, money in the long run. Make sure you get your pricing advice from a professional agent who knows the market.

2. POOR CONDITION: A home that is in ill repair, or otherwise poor condition, does not excite buyers. A home like this is looked at by buyers as a work project and money pit. Having your home in good repair and great showing condition will significantly improve your chances for a sale at top dollar value. Having your home pre-inspected by a termite and dry rot inspector will also have a positive impact on buyers.

3. POOR CURB APPEAL:Most buyers today want to drive by. If your home is an attractive drive-by, it will gain more attention and certainly more showings. Doing the little things to help your home's curb appeal will make a huge difference.

4. DREARY DARK HOMES DON'T SELL: Buyers like updated, light and bright homes. Dark carpets, paint, and curtains are often buyer turn-offs. Go through your home and remove clutter; touch up and update paint, counter tops, and carpets. Open your home up and make sure the sun shines in. Offensive odors from pets and smoking are also huge turn-offs to most buyers. Rid your home of offensive smells by burning scented candles and create a pleasant aroma. The most important rooms to concentrate on are the living room, family room, kitchen and master bedroom. Your entire home's atmosphere is set off by these rooms.

5. DON'T OVER-IMPROVE: Get your home in good showing condition, but don't over do it. Huge projects such as complete remodels of kitchens, adding decks, and expanding room sizes may not pay back your investment. Before you jump into a huge improvement project, get some good advice.

6. BE FINANCEABLE: Bad roofs, exterior paint, or structural problems may make your home un-financeable. The wider the scope of financing that your home can qualify for, the higher the overall market value. Remember -- government programs like VA and FHA will be the most picky.

7. GET GOOD ADVICE AND GOOD MARKET EXPOSURE: Hiring a professional agent will help you get your home priced right, and will also get you started with the best fix ups. A strong agent will get your home exposed to the largest number of potential buyers. Paying the agent fee is often the least expensive part of selling your home. Trying to sell your home yourself can be costly. Most 'for sale by owner' homes close for less than comparable homes listed with an agent, and you have no representation.

8. DON'T BE PRESENT DURING SHOWINGS: When your home is being shown, go for a drive or a walk. Take yourself, your family, and pets and let the agent and their clients have the freedom they need. An agent can always do their best job of showing your home when you are not underfoot. Buyers are more at ease and much more likely to spend time looking at your home's features and benefits.

9. LET YOUR AGENT DO THE NEGOTIATING: If there is ever a good reason to have a veteran agent working for you, it's during the negotiation of your home sale. A good negotiator can mean thousands of dollars to you, and will protect your interests. Don't let your emotions run wild during negotiations. Try to separate your emotions from your business side. Remain cool and calm during this time.

10. ACT FAST WITH OFFERS: When you do get an offer on your home, act quickly and decisively. Letting offers sit around without acting can be a huge mistake. Things can change quickly in the mind of a prospective buyer. Acting quickly while the excitement and interest level are at a high point can be very important. Typically, a buyer's motivation level decreases with time. Buyers' remorse can even set in. Acting in a timely manner is essential.

• 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!