Entries in indianapolis (16)

Monday
Apr122010

Tax Credits, Interest rates... and my new iPad!

This week's thoughts on the soon-to-expire tax credits, rising interest rates... and my new iPad.

 

 

Here's a link to info on the Tax credits.

Here's a link to a New York Times story on rising interest rates.

Tuesday
Apr062010

New Listing - 9010 Kiser Pt.

Superb move-in-ready condo in a great Northeast side location. Gobs of updates, including lighting, faucets, brand new stove, microwave and fridge, wood-burning fireplace, vaulted ceiling in Great Room, high ceiling in master bedroom, double vanities in Master Bath, sparkling clean, gorgeous pond view. Priced to sell quickly.

Tuesday
Feb162010

There's An App For That

I love technology. Someone once described me as “gadget-y,” and I can’t argue with that descriptor. And while there’s a tendency for that aspect of my personality to be drawn into gigantic time-sucking distractions, I am also aware of how some hardware and software tools can be enormously time-saving.

One of the most common questions I’m asked is, “Where’s the best place to go online to find available homes?” My clients want to be able to access the most current information available about homes that might suit their needs. More often than not, the common theme is this: how can I – while I’m out driving in neighborhoods – get more information about a house that I happen to drive by?

Thanks to a terrific new FREE iPhone app by REALTOR.com®, this task has been reduced to the ridiculously simple.

Not only does this app permit you to enter MLS number data to search from anywhere, it also uses the iPhone’s built-in geo-locating capabilities to figure out where you are and what houses near you are for sale.

So the next time you’re out driving around looking in neighborhoods, simply launch the app, do a search, and find what you’re looking for. You can even send the listing to me if it’s a property that you’re interested in knowing more about or seeing in person.

Here's a quick tutorial on using the app.

Head to the iTunes App Store

Or, choose the App Store on your iPhone. Enter “realtor.com” as a search term and look for the app. Or, click on the button above to take you directly to the app from your browser.

Register the App.

This is a really important step. Use an email address that you check regularly. You’ll then be able to get listing updates, share properties with your family, friends and agent.

Add the email address of you real estate agent.

You can also add other folks who you want to keep in the loop. Click on the little “gear” icon in the lower right of the main screen. If I’m acting as your agent, enter joe@macduffrealty.com in the first spot of the sharing shortcuts. Add up to two other email addresses here of the folks you want to be able to send interesting listings to. Your BFF, your SO, your mom...you pick.

Now go take a drive.

When you arrive at a location that you’re interested in, choose “Nearby Homes for Sale”

You’ll be able to view listings as a list, with a street map view, or from a satellite view.

Refine your search.

Assign a minimum and maximum price that fits your budget, choose bedrooms, bathrooms, minimum square footage, the age of the home, as well as search for condos, land and multi-family homes.

Choose a property to view.

From that screen, you’ll be able to see more photos, see room sizes, see which appliances are included in the sale and more.

Want to set a showing?

Send the listing you're interested directly to me from the app and we can make that happen.

Click on the little "envelope" icon in the bottom left of the screen.

Choose my address - you added it earlier in step 3 - and send me the listing. I’ll set it up and we’ll go inside.

I love this little app and use it myself to find information about properties when I’m out and about. While it doesn’t show every single detail that I’d ultimately want to know, it does allow me to weed through properties using search criteria that fits what my clients need.

Good luck, and have fun.

And always remember to park the car while using this app. Don't text and drive.

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Monday
Feb012010

Mudkids - "Do It Again (Go COLTS!)"

I realize that this post has NOTHING to do with "real estate" as such.

However, my city is overflowing with amazing, wonderful, happy, shining people. Russ is one of the good ones, y'all. See his Facebook Fan Page HERE.

Love you, Russ. And GO COLTS!

 

Monday
Jan182010

What's My House Worth?

Of all the questions I field on a weekly basis, perhaps the most frequent one - and the most difficult to answer concretely - is the question about market value. What's my house worth?

The off-the-cuff, easy answer is that a property is only worth what a ready, willing and able Buyer will pay in cash on any given day.

But the more complicated answer is... it depends. (Isn't that what every first-year law student learns is the answer to nearly every question?!?)

What I know for certain and can tell you is this: There's nothing I or anyone can do to sell an overpriced house. Nada. Zip. Zilch.

There are simply too many competing forces at work to keep a property's value in check with reality. Between buyers being highly educated about the market and appraisers who'll not permit a Buyer to overpay even if they're willing to, I cannot sell a property unless it's priced properly.

How do we find that price? We start with looking at recently sold properties which most closely match your home in terms of age, size, amenities, quality, location and so on. From there, we decide on a price that meets your needs and is supported by market data.

Then we wait. Showing feedback is the real source of information related to pricing. A simple formula I learned early on based on the years and years of experience of my mentors is this: 10 showings or 45 days, whichever comes first, should generate at least one offer. If we don't hit 10 showings in 45 days, then it's time to move the price down by 5% at a minimum. If we have 10 showings in the first week on the market and don't get an offer, the same rule applies.

The only caveat to that formula is this: if there are specific condition issues that haven't been addressed that are coming up in the feedback on a consistent basis then address those issues immediately. If you're not in a position to make those fixes, then get firm quotes from reputable contractors for those items and make them available to potential Buyers for review. Now when a Buyer raises the concern about worn carpeting, you're able to provide an estimate for installation of carpet of their choice.Problem solved.

If your house is on the market and you're wondering why it's not selling, plug yourself into the formula. Lots of showings and no offers? Reduce your price. No showings after 45 days? Reduce your price. No matter the price point. No matter the style. No matter the age.

If I can provide any help to you or someone you know with issues related to real estate, I'd appreciate a call. 317.413.8501. Or drop me an email at joe@macduffrealty.com. I look forward to being of service.

Joe Shoemaker
Principal Broker, REALTOR®
MacDuff Realty Group