Posts made in November 2018

Tips on selling during the holidays

Selling a home is no doubt a stressful time. Add the craze of the holidays, you may need some advice from the experts. We asked our real estate agents for tips that can help minimize the stress and possibly get that SOLD sign up before the big guy 🎅 comes to town.

  • Consider potential buyers spiritual backgrounds 🕎 in your market before decorating for the holidays. Keep it simple
  • Less is more when decorating a home for the holidays while you are trying to sell. Limit the amount of holiday-specific decorations that are displayed
  • Large over-size Christmas trees 🎄 and other holiday decorations consume space that might make rooms or landscapes appear smaller
  • Install and remove exterior holiday decorations ~2 weeks before and shortly after the It’s less distracting
  • Tum off lighted holiday decorations 🌟 before showings. Buyers should focus on your home and not your decorations
  • If you are having out-of-town house guests, ask your real estate agent to postpone showings until after your guests depart
  • Help potential buyers visualize 👀 your home in other seasons. Display summer photos of home / gardens to show off other features of the home
  • Before showings, remove snow ❄️, ice and leaves from walkways and driveways. Don’t overlook outside entrances to basements, garages, and porches. And don’t forget the pet dirt 💩. It’s a turn-off to buyers

Hope these tips help to keep stress levels to a minimum during the holiday season. If you need to talk through your specific situation, give us a call. Happy to help!

Trying to Avoid a Jumbo Loan??

I was talking to a client this past month and they mentioned they wanted to stay clear of a JUMBO loan.  We discussed some strategies that I have seen over my years in the business that have proven helpful to some in these situations.

  • Consider borrowing from your 401K. Most 401Ks allow one to borrow from the plan.  Typically, there are no upfront cost and you’d be repaying yourself.  It usually takes about 21 days to get the $$$ in your hands.  All you usually need to qualify is a copy of your purchase agreement and a preliminary settlement statement (from the closing agent) on the new house and you’re good to go
  • Do a Conventional/Conforming 1st mortgage and couple it with a simultaneous second mortgage or HELOC (Home Equity Line of Credit) to fill the gap. Then once your current house sells or you get your bonus or whatever, you can pay off the second / HELOC.  Typical costs of a HELOC are minimal, the rate is good, and repayment is often interest only.  Interest is usually deductible.  Not all mortgage lenders will have these products, though you can oftentimes coordinate with a bank or credit union to do that piece of the transaction
  • Plan on doing a Conventional/Conforming 1st mortgage on your purchase.  Take out a HELOC on your current residence now. This approach does not affect your current 1st mortgage.  Again, the upfront cost is minimal, interest rate is good, and repayment is often interest  Interest may not be deductible but you should only have this for a few months anyway.  Going this route gives you your equity in cash to work with as you go into the new transaction.  It is important to know that this MUST be completed prior to your house being listed or put on the market. It’s about impossible to find a lender who will make that loan once you’ve listed it or the terms will be far inferior.  Turnaround time on this is probably 1-3 weeks.  Different lenders work these differently and with various timelines.
  • Some combination of the above.

Hopefully this gave you some food for thought on how to avoid that Jumbo Loan. When you are ready, give me a call or text at (317) 625-0655. I’d be happy to jump on a call to work through these strategies and determine what is best for your situation.   Until then, make it a great day! – Bob

Do Homes Sell in Winter? ❄️❄️

In today’s market, the answer is an unqualified “YES!”. 

However, summer months are no longer the peak.  It’s tax season! Yes, April 15th is about when buyers overwhelm the available inventory.  The best reason we could come up with for the earlier timing of throngs of buyers hitting the market is the change in the school calendar.  With a shorter number of days for families to take vacations and the earlier school start dates, many people are wanting to get the house sold / purchase/move done before summertime.  That means the housing cycle has moved forward with the cycle peaking in April, it means that the prime time to get your house on the market is the winter.  And this means January.  Looking back, we even worked last New Year’s Day and it set the tone for all of January and February.

So, if you’re thinking about making a move in 2019, it’s a great time to get ready to put your house on the market come first of the year.  Not convinced???  Maybe the other reasons below will help…

  • We are in a Seller’s market
  • Mortgage rates, despite recent upticks, are still low by historical standards
  • And with the Fed talking about more rate hikes, many buyers are wanting to purchase before rates go higher
  • Inventory is low with less than a 3 months’ supply.  5 or 6 would be a healthy number.  So, basic supply and demand makes this a good time to sell
  • Serious buyers are always on the prowl
  • Buyers hear that home prices have been going up.  That fuels consumer confidence and also makes them want to get on the bandwagon before prices go any higher
  • Deals turn quicker in the winter months
  • And, yes, the peak buying season starts on New Year’s Day

The 3 KEYS TO SUCCESSFUL SELLING are price, condition, and marketing.  We’ll save our thoughts on that for another day.  But if you want to get a jump on the competition, give Dave or Bob a call today— and let’s get you ready for a successful house sale this Winter or early Spring.

P.S. Overwhelmed with getting your house on the market?? Check out our FB post on the Top Home Décor Trends for this Fall [Link]