Open House -- 7390 Railway Court, Indianapolis, IN 46256
Tuesday, May 1st from 5:30pm-7:30pm
Move in ready and immediate occupancy. Spacious GR w/ wood-burning fireplace. Updated kitchen with Corian counter tops, updated cabinets, tile backsplash and tile flooring. Both baths updated. Master bedroom boasts walk in closet and custom tiled master bath w/ walk in shower. Fully fenced backyard, deck and shed. New vinyl siding and gutters to be installed in the next few weeks. Don't miss this one!
How To Prepare to Buy a Home
Talk to mortgage brokers.
Many first-time home buyers don’t take the time to get prequalified. They also often don’t take the time to shop around to find the best mortgage for their particular situation. It’s important to ask plenty of questions and make sure you understand the home loan process completely.
Be ready to move.
This is especially true in markets with a low inventory of homes for sale. It’s very common for home buyers to miss out on the first home they wish to purchase because they don’t act quickly enough. By the time they’ve made their decision, they may find that someone else has already purchased the house.
Find a trusted partner.
It’s absolutely vital that you find a real estate professional who understands your goals and who is ready and able to guide you through the home buying process.
Make a good offer.Remember that your offer is very unlikely to be the only one on the table. Do what you can to ensure it’s appealing to a seller.
Factor maintenance and repair costs into your buying budget.
Even brand-new homes will require some work. Don’t leave yourself short and let your home deteriorate.
It’s easy to get wrapped up in your present needs, but you should also think about reselling the home before you buy. The average first-time buyer expects to stay in a home for around 10 years, according to the National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers.
Develop your home/neighborhood wish list.
Prioritize these items from most important to least.
Select where you want to live.
Compile a list of three or four neighborhoods you’d like to live in, taking into account nearby schools, recreational facilities, area expansion plans, and safety.
Reprinted from REALTOR Magazine
Just Sold in Indy!
Just Sold! Congrats to Andrew and Emily on the purchase of their home in Indy. It was great working with you!
4617 Fox Moor Place, Greenwood, IN 46143
Beautiful move-in condition full brick ranch in a fabulous Center Grove schools custom neighborhood. Custom features include moldings/crown/fluted doorways, solid wood doors, 10 ft+ ceilings, Anderson casement windows, two-car garage with extension for storage or workshop. Kitchen boasts Casi cabinets, granite island, walk-in pantry, and stainless appliances. Breathtaking Great Room with barrel roll ceiling and masonry gas fireplace. Master suite offers tray ceiling and two closets, walk-in shower, jetted tub and double vanity. Serene screened porch. Irrigation system. Home warranty.
Central Indiana home sales jump 17.6 percent in March
After last month’s pended sales declined, housing sales and prices are now rising
INDIANAPOLIS – Monthly real estate stats from F.C. Tucker Company indicate that the housing market is on the rise once again. March 2018 pended sales increased 17.6 percent compared to March 2017 while the average year-to-date sales price for the 15-county Central Indiana region increased 7.6 percent to $199,995.
Despite the increasingly lower number of available homes for purchase, every county saw an increase in pended sales as homes left the market faster. Pended sales went from 3,605 Central Indiana homes purchased in March 2017 to 4,240 in March 2018. Specifically:
On average, homes sold much faster and for more money in March, signaling that it’s still a seller’s market.
Listings dropped significantly this month, reaching 28 percent fewer homes for sale. In March 2018, inventory stood at 4,346 homes, a decrease of 1,693 compared to 6,039 homes in March 2017.
“It’s peak selling season, and buyers are facing more competition as listings continue to drop lower than we’ve seen in years,” said Jim Litten, CEO of F.C. Tucker Company. “Without much new construction to add to inventory, homes that are available sell for more money than usual and much faster.”
Of the pended home sales in the region last month, none were priced $2,000,000 or higher; 18 were priced $1,000,000 to $1,999,999; 180 were priced $500,000 to $999,999; 614 were priced $300,000 to $499,999; 880 were priced $200,000 to $299,999; 1,833 were priced $100,000 to $199,999; and 715 were priced at $99,999 or less.
How To Prepare for House-Hunting
Know that there’s no “right” time to buy.
If you find the perfect home now, don’t risk losing it because you’re trying to guess where the housing market and interest rates are going. Those factors usually don’t change fast enough to make a difference in an individual home’s price.
Don’t ask for too many opinions.
It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of the people who will actually be living in the home.
Accept that no house is ever perfect.
If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go. Also, accept that a little buyer’s remorse is inevitable and will most likely pass.
Don’t try to be a killer negotiator.
Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or refusing to budge may cost you the home you love.
Remember your home doesn’t exist in a vacuum.Don’t get so caught up in the physical aspects of the house itself that you forget about important issues such as noise level, access to amenities, and other aspects that also have a big impact on your quality of life.
Don’t wait until you’ve found a home to get approved for a mortgage, investigate insurance, or consider a moving schedule. Being prepared will make your bid more attractive to sellers.
Choose a home first because you love it; then think about appreciation.
A home is still considered a great investment, but its most important role is as a comfortable, safe place to live.
Reprinted from REALTOR Magazine
Just Sold in Indy!
Just sold in Indy! Congrats to Whitney on the purchase of her new home - it was a pleasure working with you!
The term “agency” is used in real estate to help determine what legal responsibilities your real estate professional owes to you and other parties in the transaction.
The buyer's representative (also known as a buyer’s agent) is hired by prospective buyers and works in the buyer's best interest throughout the transaction. The buyer can pay the agent directly through a negotiated fee, or the buyer's rep may be paid by the seller or through a commission split with the seller’s agent.
The seller's representative (also known as a listing agent or seller's agent) is hired by and represents the seller. All fiduciary duties are owed to the seller, meaning this person’s job is to get the best price and terms for the seller. The agency relationship usually is created by a signed listing contract.
A subagent owes the same fiduciary duties to the agent's customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer’s agent, shows property to a buyer. The subagent works with the buyer to show the property but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer customer can expect to be treated honestly by the subagent.
A disclosed dual agent represents both the buyer and the seller in the same real estate transaction. In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients. Because of the potential for conflicts of interest in a dual-agency relationship, all parties must give their informed consent. Disclosed dual agency is legal in most states, but often requires written consent from all parties.
Designated agents (also called appointed agents) are chosen by a managing broker to act as an exclusive agent of the seller or buyer. This allows the brokerage to avoid problems arising from dual-agency relationships for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties.
A transaction broker (sometimes referred to as a facilitator) is permitted in states where nonagency relationships are allowed. These relationships vary considerably from state to state. Generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.
Reprinted from REALTOR Magazine
Big week for Team Schuster last week! SIX closings!! Thanks so all our amazing clients who let us help them buy and sell. We appreciate working with each and every one of you!