My husband and I were informed in July that my company required us to relocate out of the Indianapolis area to better fit their growth strategy. This relocation came as a surprise, and frankly, we weren’t really prepared for it, financially or emotionally. Michelle listed our beloved first home to be sold, so we could purchase a home in our new city.

Every showing request is a mixture of stress, apprehension and hope. You are letting strangers in to open your cabinets and look in your closets. You rush to put away your laundry and pretend like there isn’t a family living there. You fret over artwork – will our wrought iron crosses in the guest room put people off? You worry about what you cook for dinner and possible odors. You rearrange your schedule to accommodate as many showing requests as possible – even leaving work early to straighten for a buyer who is “going to make an offer on a house today”. You hesitate to make plans because there might be a showing request. You wait until less than 30 days to plan trips – just in case you get an offer.

The process is very emotional for the seller. It’s just another house to the buyer – but it’s your HOME. They don’t have the memories that make the house special and beautiful to you. Every negative feedback comes like an arrow to the gut. It’s hard not to take it personally.  It’s too small, too non-traditional, it smells, it’s dirty (!!!), the house is in “rough shape”. This is all feedback we received after showings. There’s the occasional “very nice kitchen” thrown in but it hardly undoes the damage from the overwhelming negative. We appreciated the constructive feedback and made an effort to address the issues. Some feedback was ridiculous – replace all the windows and repaint everything? Are you nuts?!?

The hardest part is having absolutely no influence over the buyers. You don’t know who they are. You don’t know what appeals to them. You have zero control over their decision making process. You can try to eliminate the things that may repel a potential buyer, but ultimately, you have no way of knowing. You just hope that they see your house the way you did. Your buyer is out there – but how long until they find your home? How much will you have to lower the price to make them see the “value”?

And then you get an offer! Of course it’s lower than you’d like. It’s a buyers’ market, remember? Do you risk turning it down, hoping there’s another offer coming soon? Do you continue living in this suspended state with all the stress that comes with showing the house?  What is the intangible value to us to finalize it and get on with our new adventure?

Buying a home is completely different. You have almost all the power! The process is full of potential and dreams. It’s exciting and fun to look at houses! We wandered through homes (only opening closets and cabinets if we were really serious about the house), daydreaming, talking about how we could arrange our lives there. Talking through every house made us appreciate our family and our marriage. This was the complete reverse of showing our house for sale – those often primed us both for a fight!

The needs of our family limited the list of homes that would work for us, but we still had 2 dozen potential properties, more if we were willing to relax some of our requirements. As the buyer, you can eliminate a home as a potential for whatever – for example, the neighboring house that has a pink carousel horse planted in their front yard (true story!).

When we finally made our offer, the negotiation was infinitely less stressful. There was another house we could buy if negotiations fell apart. As the seller, there’s no backup buyer waiting in the wings (unless you were our seller, in which case they got lucky and had a second offer). As the seller, every decision you make is fraught with concerns that you will drive your buyer away. As the buyer, it’s a business deal and you’re the boss. You can shoot for the moon – at least you’ll land among the stars!

It’s unfortunate that if we need to buy another house in the future, we’ll have to be a seller again first. I would prefer to never sell a house again! At least the painful part comes first, I guess, and it’s rewarded by the fun of buying a new house (I’m ignoring the actual moving part – yikes!). So buyers, take a little pity on the sellers, please?

IF you come visit me, you will be entered to win a $50 gift card to Scotty’s Brewhouse! Just stop by and say hello, and tell me that you heard about this on my blog!!

There are currently 4 homes listed in Indy for $5000 or less. This isn’t including auctions, which are normally listed for $1 with the knowledge that the price will go up.

• 3601 E MICHIGAN ST is priced at $4,700
• 9103 BRENTWOOD CT is listed at $5,000
• 1026 N MEDFORD AV for only $5,000
• 4015 E 30TH ST is also just $5,000

When I looked for properties priced UP TO $10,000, there were 66 properties available!

Why do you care about that? Fewer homes on the market means fewer homes for buyers to choose from. This could help create a sense of urgency and get some buyers off the fence. It could also possibly create a shift in demand (remember supply vs demand?). Hopefully we will see this trend continue!

Image by Sean MacEntee via Flickr

Just in time for Halloween, I was watching a show on the DIY Network about home buyers considering purchasing supposedly haunted houses. The show followed potential home buyers as they had the home investigated by experts, and then determined if they could live with the findings.

What I thought was very interesting was that in each case the Realtor discussed the disclosure law in whatever state they were in. For example, one of the homes was in Florida (I think– I’m not particularly familiar with the real estate laws of Florida, so don’t quote me on that), and the Realtor said that because they are a full disclosure state, he had to tell them that the house was haunted. In one case, they were NOT in a full disclosure state, but the agent felt obligated to tell them because he was actually the seller as well.

In Indiana, Realtors are NOT required to disclose a psychologically effected home, unless specifically asked, and then, only if they know.

“psychologically affected property” includes real estate or a dwelling that is for sale, rent, or lease and to which one (1) or more of the following facts or a reasonable suspicion of facts apply:
(1) That an occupant of the property was afflicted with or died from a disease related to the human immunodeficiency virus (HIV).
(2) That an individual died on the property.
(3) That the property was the site of:
(A) a felony under IC 35;
(B) criminal gang (as defined in IC 35-45-9-1) activity;
(C) the discharge of a firearm involving a law enforcement officer while engaged in the officer’s official duties; or
(D) the illegal manufacture or distribution of a controlled substance.

My advice to you? If you are considering purchasing a piece of property, and you are worried about this, do a little bit of research. Check online to see if there are any newspaper articles regarding the house, ask the neighbors, ask your agent.

“I had a quick question for you. We recently received something in the mail that our property has been assessed..I guess now because the houses in our addition are finally complete. The total amount our property and house was assessed at was significantly less than what we paid for the house. Should we be concerned about this? the form says we can appeal but I’m not sure how any of this works. Any info you have would be appreciated!!!”

I told her that no, it should not be a big concern to her, because if her house is assessed for less than what they paid, that means that they are paying less in property taxes, so that was a good thing. Her next question was:

Let’s start with sellers on this one: With a home warranty, you are protecting yourself in many ways, not only protecting the buyer from additional costs if an appliance breaks something. First of all, usually, you are covered while your home is listed, if you have a home warranty in place. Let’s say you come home and the freezer is dripping because it has stopped working and everything has melted. Eww. Well, with a home warranty, you would pay the $100 deductible and they would come out and fix it. If it can’t be fixed, they will replace it.

Protecting the seller from an unwated repair is just the beginning. Let’s pretend you sell your house and then the electricity in one room just won’t work. The inspector didn’t have a problem, and it worked during the buyer’s final walk-through, but once they move in, nada. The angry buyer contatcs YOU, and wants it fixed now! OR, they contact the home warranty company who arranges to have it fixed. Which do you like better?

Most importantly, it is a fact that homes with warranties sell faster and for more money than homes without warranties. With most buyers asking for them, you might as well just have one in place from the beginning.

OK, Buyers, it’s your turn! For you, a home warranty can help provide peace of mind. Let’s say that the roof is 13 years old, and it is just a normal, average roof. The normal life of the roof is coming to an end, but it is still fine. Getting a home warranty and extra roof coverage will help cover you in case of leaks! If you notice a soggy spot after a rain storm, they will come out and either fix it or replace it for a $100 deductible. Calling the warranty company when you have a plumbing issue, a broken appliance, or need an electrical repair will be much easier than hunting down good contractors, plus, the deductible will be a huge money saver!

A few words of warning! Home warranties will usually NOT cover an item that has been treated badly, so keep your furnace and AC serviced every fall and spring. Warranties will also usually not cover something that was broken from the start. They only cover items that break after the warranty is in place.

If you have questions about the details of the home warranty that Carpenter uses, please feel free to contact me!

How do you expect to sell a home with no photos? I guess sellers need to start asking potential agents if there will be a photo of the house posted when the house is listed, I thought that just went without saying.

Image via Wikipedia

Pop quiz, hot shot. You are on a real estate website, and you see a house you have a question about. You want to know if the bathroom that there is no photo of is painted blue. What do you do? WHAT. DO. YOU. DO!!???

Many real estate websites have a way to contact an agent to ask a question, but did you know that 70% (!!) of those questions go completely unanswered!? Many others take a few days to get an answer. Not so with Carpenter.com!

At Carpenter, we actually have a staffed office that takes your internet question, finds the listing agent (if it is a Carp agent) calls them and gets them to answer it! Then, the listing agent can call you back and say, yes, that bathroom is blue, I have a photo on my computer but didn’t post it because… then they can ask if you want to tour the house. Sometimes you do, sometimes you don’t, no big whoop.

Our Client Service Center is open from 8a-8p on weekdays and 8 hours on weekend days. Now that is the type of dedication that gets houses SOLD.

But what if the agent can’t be reached? Oh guess what? We have a cure for that too. We have an Internet Lead Team that can take care of you. If the listing agent can’t be reached or is from another company, your question will go to a member of our Internet Lead Management Team. This is a team of agents who have been trained to follow up with your questions. You know what else? We (Oh, I’m on the team) are required to answer your inquiry WITHIN TWO HOURS or else.

Buyers love this. One time I got a lead and called right away and the lady kinda freaked out. She laughed and said, “Oh wow, I just filled that out about half an hour ago, that’s amazing that you’re actually calling me!”

Why would sellers care about this? What if it is YOUR house that the person is asking a question about? Would you prefer that the question is answered quickly, while the prospect is still excited about the house or would you like us to ignore it? That’s what I thought.

At just over 9,000 sq feet, and sitting on 28 acres, this home is truly amazing. It has 3 fireplaces, an inground pool, and an amazing location! Where else can you enjoy over 25 acres of serenity to roam, yet still be only 1 mile from US31? The entire first floor underwent extensive remodeling at a cost of over $300,000. A screened porch overlooks the gorgeous gunite pool, so you can watch the family splash and play. I can just imagine taking a great book and a cup of tea to sit by the fountain and goldfish pond. There are several outbuildings, including a barn that is over 100 years old on the property. The grounds also include a tennis court, slate patios and those amazing views!