Fall Leaves Bring SOLD Signs

Summer has come to an end and you probably are thinking you've lost the opportunity to sell, and need to wait till next summer. But that's far from the truth! Although it's not as hectic and crazy with the swarm of buyers on the market, the fall season brings out the most serious of lookers. They are the pool of buyers that waited out the summer frenzy to find their perfect home in the fall, and you don't want to miss these buyers! They are ready to make a move, today! And selling in a slower period does not equate to less money. That's a misconception that home owners have based on untrue data that floats around. With the right agent, and your home being priced correctly, you can get a great deal selling your home during the fall season. And might actually prefer it. Here are the top 3 benefits to listing during the fall season.

1. Serious Buyers - Let's be honest, if buyers are out during the busy season, looking for homes, they are serious and ready to buy. Although the summer brings in a large crowd, that crowd contains a lot of people that are excited by the season, and fall into the "trend" of house hunting. These people end up not really being serious about the process, and tend to hold off for another time. If people are investing time to look during the fall season, they are more likely to be interested in actually buying your home, instead of touring it.

2. Less Competition - Selling in the fall isn't something many families can accomplish due to personal schedules. That's why a significant amount of homes get listed during the summer season. Which means that summer time brings in a lot of competition. Selling in the fall means the potential house next door that has slightly more perks that may have been listed during the summer, doesn't make your home sit stagnant, since everyone wanted your neighbor's house. It also doesn't devalue your home because of the house that could go up next door that could be under-priced in your neighborhood, and draw all of the attention.

With a slower season, you get dedicated attention to your property, which increases the chance of a sale. 

3. Easier to Find Your Dream Home - Not only do you get to benefit from a slower season during the selling process, but you can also benefit on the buying side. With less competition on your dream house, you can get a better deal. The summer brings a lot of missed opportunities for buyers on their dream homes, because they go off the market instantly. This will give you the opportunity to get your home on the market and take your time to find the right one to resize into. A much calmer pace to the transaction will make it less stressful, and everyone all around happier. Don't feel rushed into buying a home overnight during the summer, it could turn into a headache. If you want a far more peaceful transaction, that has calmer pace, then selling during the fall is perfect for you.

 

Call Gena to get your home Listed and SOLD! (765) 210-5582

HOW TO WRITE AN OFFER THAT WINS!

If you have been looking for a home in today's market, you know that it's somewhat difficult to find one and there isn't much out there to look at!

A well priced home will move very quickly right now and may have multiple offers. If you want to end up winning the home you love, you need to be strategic. Thinking you'll find the home of your dreams by just walking into a few open houses or just perusing some online listings is not realistic in this seller’s market. There's barely time to think about it!

It's all negotiable and a good realtor will find out the sellers motivations, which will help with the nogotiating.

A few of my recommendations to you are..

#1 Come to the market with a preapproval letter! There is absolutely no time to get an approval after you find a house you want.

#2 MOVE QUICK! Look at the new listings everyday! If you see one you like, look at it now. No time to waste. If you like it, write the offer now! They are going fast and are gone in hours.

#3 Be realistic about inspections and repairs! In this market, sellers don't have to fix everything. A new offer will be behind yours. You're not getting a brand new house, so don't expect one. An inspection is for looking for major defects that you can't see when just walking through a home.

#4 Start with your BEST OFFER! You may only get one chance to make an offer. If there are mulitple offers, the seller only has to choose one. Come in with your highest and best. This includes the earnest money, time periods and contingencies in the contract. Make sure you have a broker that knows how to maneuver around all those areas and make them better looking to the seller!

I have more, but I can't give all my techniques away!

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Article by: Gena Martin Realtor

Gena writes about real estate markets and advice. Gena is an Entrepreneur, Owner | Managing Broker at GMR Realty. Real Estate Investor, marketing expert and syndicated columnists. Built six successful companies. Featured on TLC Network. Watch for her upcoming articles on market trends.

EXPERT TIPS FOR SELLING YOUR LUXURY HOME

The level of difficulty in selling a home increases somewhat when selling a luxury home. With this increased level of difficulty comes an increased level of expertise that is required to sell a luxury home.

Many real estate agents lack the expertise in the area of luxury real estate sales. Many owners of luxury homes lack the knowledge that selling their home requires a "special" real estate agent. It is important that a great plan is in place to ensure the home is sold in a timely fashion and for a fair, market value price!

Here are several tips for selling luxury homes that are helpful for any luxury homeowner...

Pricing Your Luxury Home Right From The Start...

Pricing a home correctly, from the very beginning, is extremely important. Whether selling a $100,000 home or a 1 million dollar luxury home! A common mistake that is made, is hiring the real estate agent who suggests the highest price for your home. This can be a huge mistake! It’s extremely important that a luxury home is priced competitively or aggressively from the beginning to attract buyers from the beginning. Although, it's common for a luxury home to sit on the market for longer than a lower priced home, it does not have to sit on the market for an extended amount of time, if priced properly from the beginning!

To ensure the price is right, an in-depth comparative market analysis, must be completed on the luxury home. It should take an agent several hours to investigate the data, tour other comparable luxury homes currently for sale, and make calls to other real estate brokers who have recently sold comparable properties to the subject home. It is rare to find a luxury home that is identical to another, so knowing every feature a luxury home has is crucial when determining the price!

Selling At The Right Time...

When selling a luxury home, timing plays a larger role than when selling other homes. If a waterfront luxury home is being sold, it’s important to select the correct time of year to sell. Selling a home in the middle of the cold, blustery winter would not be a good time to showcase the waterfront!

Know The Marketing Plan...

There are additional and advanced marketing tools that should be used when selling a luxury home. Ask any real estate agent to show you their plan. If they don't have one, well.....

Print advertising and direct mailings should be a part of any real estate agents basic marketing plan. The way buyers shop for a home has changed dramatically within the last few years. It is extremely important that a real estate agent who is selling a luxury home, knows how to utilize and does utilize the internet. It’s important that a real estate agent has their own website and/or blog and that it is mobile responsive as well. Many home buyers are shopping on their tablets and mobile devices.

When selling a luxury home, it’s important that a real estate agent uses other internet tools as well. I can't share all the tools I use to the public, but I can tell you it's marketing tools that most real estate agents don’t utilize and/or understand.  By not marketing a luxury home for sale in the right ways, a real estate agent is doing their client a huge disservice!

When selecting a real estate agent to sell a luxury home, it’s critical to know the plan of action to market the home. How it will be marketed, and how frequently it will be marketed. When selling a luxury home, a real estate agent must have a marketing plan. An agent should not list a luxury home, wait, and hope it sells.

Quality Photography and Video...

With over 90% of buyers beginning their home search online, it’s critical the photographs and videos of a luxury home are outstanding! Quality and quantity are important!

Every real estate agent needs photos of a home, but photos of a luxury home should be more than the everyday photo session with the family camera. When selling a luxury home, the real estate agent should consider having a professional photographer take photos of the home. Top real estate agents who choose to take their own photographs of their luxury home listings must have experience and high end equipment, such as a wide angle lens. It's important to make sure the lighting is right, features are being photographed, and the outstanding location is being highlighted.

A picture may be worth a 1,000 words, how much is a video or virtual tour worth? When selling a luxury home, a video or virtual tour can be the difference of whether or not the luxury home sells. Many luxury homes are much larger than many photos can showcase, so video is a great way to allow potential buyers the ability to “tour” the luxury home in the comfort of their own home.

Holding Open Houses...

Sellers always want to know, are you going to have an open house? There's much debate whether public open houses actually help sell homes. When it comes to luxury homes, probably not. Public open houses at luxury homes usually just bring in people interested in seeing how the “rich and famous” live. There is absolutely no way to determine whether the people coming through the open house are qualified to purchase the home!

However, broker open houses can be helpful. A broker open, an open house for local real estate professionals, allows real estate agents who have buyer prospects looking for luxury homes to view the home. A broker open can be successful if the real estate agents who sell luxury homes locally are able to attend, since they are more likely to have a client for the home!

Showcasing The Location & Lifestyle...

Luxury homes are usually luxurious because of their location and lifestyle. If a luxury home is part of a development which includes a clubhouse or pool privileges, they should be showcased in the listing information. Yet another reason for a video tour as well.

Luxury home buyers will often want to know who else is living in the general vicinity of the home. It is up to the agent to know or find out who else lives in the area and to have this information available to real estate agents who are showing the home.

Staging The Home...

When selling a luxury home, staging will help maximize price and minimize time on the market. When staging a luxury home, it is important that the amenities which make the home luxurious are being showcased. If the home has a pool, stage the area for a gathering and or pool party. If you have a luxurious dining room, stage the table with a nice modern table setting.

Having Patience Is Key...

Selling a luxury home, sometimes takes patience! Selling a luxury home will normally take longer than a non-luxury home.

One major reason that selling a luxury home takes longer to sell is due to the number of possible buyers available to purchase the home. There are more buyers who can afford a $150,000 home entering the market on a daily basis, than a 1 million dollar home. For this reason alone, it’s important to be patient and know that if the above tips are being practiced, a buyer will come.

For example, in Tippecanoe county (Indiana) there have been a total of 17 sold properties in the $500,000+ price range in the past 12 months versus 1978 sold properties in the $100,000 - $499,000 price range in the past 12 months. The average days on the market for the $500,000+ homes was 112 and the average days on the market for the $100,000 - $499,999 homes was 39.

In Howard county (Indiana) there was 1 sold property in the $500,000+ price range in the past 12 months versus 660 sold properties in the $100,000 - $499,999 price range in the past 12 months. No average days on market for the $500,000+ range, since only one. Average days on the market for the $100,000 - $499,999 homes was 56.

 As the statistics prove, in the luxury home market there are less buyers in the marketplace than there are in the non-luxury home market.

Selling a luxury home presents a different level of difficulty and expertise than the non-luxury home market. It doesn’t have to be difficult. Consider my tips when selling a luxury home. With the right real estate professional, the process can be smooth and less stressful!


This article provided by Gena Martin Realtor, owner of GMR Realty. If you’re thinking of selling or buying, I'd love to share my knowledge and expertise. We service the entire central Indiana area!

Call Gena: 765-210-5582

Email Gena: gmrrealtyllc@gmail.com

The 5 Most Expensive Tippecanoe County Homes SOLD in 2016

Located in Raineybrook S/D and Tippecanoe School Corp. (Union Township) This 14 year old artisan crafted custom luxury home features 7,142 sq. ft. of finished living space on .97 acres, 6 bedrooms, 5 full baths, 1 half bath, private office, chefs kitchen, multiple fireplaces, 2 laundry rooms, fully finished walkout basement, heated in-ground pool, and an attached 4 car garage. It SOLD for $803,300, was originally listed for $899,900, and was on the market for 55 days before going pending.

 

Located in Winding Creek S/D and Tippecanoe School Corp (Tippecanoe Township) This beautiful 11 year old custom built home features 6,410 sq. ft. of finished living space on .72 acres, 4 bedrooms, 4 full baths, 1 half bath, fireplace, gourmet kitchen, marble flooring, finished basement, theater room, indoor basketball goal, and an attached 3 car garage. It SOLD for $775,000, was originally listed for $899,000, and was on the market for 194 days before going pending.

 

Located in Julius Spring S/D and Tippecanoe School Corp (Fairfield Township) This 9 year old luxury smart home features 6,058 sq. ft. of finished living space on 2.20 acres, 4 bedrooms, 4 full baths, 2 half baths, gourmet kitchen, all seasons room, fireplace, whole house generator, 4 zone heating and cooling, putting green, and an attached 3 car garage. It SOLD for $700,000, was originally listed for $977,700, and was on the market for 264 days before going pending.

 

Located in Arbor Chase S/D and Tippecanoe School Corp (Wabash Township) This 4 year old luxury smart home features 8,400 sq. ft. of finished living space on .70 acres, 6 bedrooms, 6 full baths, 1 half bath, fireplace, 2 kitchens, home theater, sunroom, pond view, and an attached 3 car garage. It SOLD for $675,000, was originally listed for $749,000, and was on the market for 111 days before going pending.

 

Located in Dunbar Estates and Lafayette School District (Fairfield Township) This beautiful 14 year old custom executive smart home features 5,152 sq. ft. of finished living space on 5 acres, 4 bedrooms, 3 full baths, 2 half baths, fireplace, office, exercise room, in-ground pool, and 2-2 car garages. It SOLD for $650,000, was originally listed for $774,900, and was on the market for 202 days before going pending.

 

Gena writes about real estate markets and advice. Gena is an Entrepreneur, Owner |Managing Broker at GMR Realty. Real Estate Investor, marketing expert and syndicated columnists. Built six successful companies. Featured on TLC Network. Watch for her upcoming articles on market trends. Call Gena for your real estate needs! 765.210.5582

 

Posted on January 3, 2017 at 7:23 pm by Gena Martin Realtor

 

The 5 Most Expensive Howard County Homes SOLD in 2016

Located in Kennington Woods S/D and Western School District (Harrison Township) This brand new Cardwell built home features 6,100 sq. ft. of finished living space on .94 acres,  6 bedrooms, 5 full baths, 1 half bath, fireplace, finished basement with bar and workout room, pool, pool house, and an attached 3 car garage. It SOLD for $895,547.

 

Located in Northwestern School District (Clay Township) This beautiful 9 year old home features 3,807 sq. ft. of finished living space on 18.96 acres, 3 bedrooms, 3 full baths, 1 half bath, fireplace, barn, and an attached 3 car garage. It SOLD for $382,000, was originally listed for $389,900, was on the market for 117 days before going pending.

 

Located in Western School District (Harrison Township) This 22 year old home features 4,839 sq. ft. of finished living space on 3.03 acres, 4 bedrooms, 2 full baths, 2 half baths, 2 fireplaces, a pool, and an attached 3 car garage. It SOLD for $375,000, was originally listed for $449,000, was on the market for 66 days before going pending.

 

Located in Western School District (Monroe Township) This 11 year old home features 2,460 sq. ft. of finished living space on 3 acres, 3 bedrooms, 3 full baths, 1 half bath, fireplace, multiple outbuildings, heated barn with half bath, and an attached 3 car garage with logt. It SOLD for $360,000, was originally listed for $369,000, was on the market for only 6 days before going pending.

 

Located in Kokomo School District (Center Township) This 24 year old Graber built home features 3,859 sq. ft. of finished living space on .97 acres, 4 bedrooms, 2 full baths, 1 half bath, fireplace, 2 furnaces, library, inground pool, and an attached 4 car garage. It SOLD for $355,000, was originally listed for $369,000, was on the market for 52 days before going pending.

 

Gena writes about real estate markets and advice.                                                               Gena is an Entrepre

 

neur, Owner |Managing Broker at GMR Realty. Real Estate Investor, marketing expert and syndicated columnists. Built six successful companies. Featured on TLC Network. Watch for her upcoming articles on market trends.

Posted on January 3, 2017 at 5:39 pm by Gena Martin Realtor

Property Inspection vs. Property Appraisal

When it comes to buying a home, whether it is your first time or you are a seasoned veteran, you must go through the process of a property inspection as well as a property appraisal. It is important to know the distinction between these two processes and how they affect both the buyer and seller in the home buying process.

The Basics: Once you have settled on your dream home, it is time for you to get the property appraised and inspected. What does this mean? A property appraisal is a way for your lender to survey the house to find out its true market value. Appraisals are estimates made by professionals based on established industry and state regulation guidelines. A property inspection is a way for a third party to inspect the house for any outstanding problems that might affect the value/safety of the home. Inspections estimate a property’s condition based on the inspection of both the mechanical systems and the structure of the house. After all is said and done you will be given a home inspection report that can be used as a tool in negotiations for a potential price reduction or for bargaining to get smaller items fixed.

The Debate: There is an ongoing debate about the order of importance of the property appraisal versus the property inspection. On one side, if the property appraisal is done first it might uncover that the current asking price of the house is too high for the current market. This is important because lenders base the amount they are willing to lend out based on the appraisal. If a home appraises for less than the asking price, the buyer must either come up with the money to cover the difference or negotiate the asking price with the seller – all without even having to pay for a home inspection. On the other side, if the home inspection is done first it can provide the appraisers with necessary information to more accurately estimate the market value of the house and point out potential flaws to the buyers that they can ask the sellers to fix. While each side has valid arguments, in the end it is a decision the home buyer should make given their situation and their real estate agent’s advice.

Inspection Checklist: If and when you decide it is time for a property inspection, take a look at the following list to be aware of the types of items the inspector will be looking for.

● Structural – the inspector will examine the attic, floors, ceilings, walls, basements, crawl spaces, and the foundation of the house to make sure the house is structurally safe.

● Roofing and Exterior – the inspector will examine the roof, deck, patio, exterior windows and doors and their trim, and eaves to make sure the house is up to snuff externally.

● HVAC, Plumbing and Electrical – the inspector will examine the air conditioning, heating, plumbing, electrical, vent systems, water and waste drainage, water source and distribution, chimney, sump pump, and smoke detectors to make sure they are installed and performing properly.

● Interior – the inspector will examine stairways, balconies, railings, and window and door locking mechanisms to check for interior functionality and safety. The inspector will also check for water damage and harmful infestation such as termites or mold.

● Insulation and Ventilation – the inspector will examine ventilation in the kitchen, attic and bathrooms to check for safety and sanitation.

Bottom Line: A low appraisal can make loan approval plummet while a negative home inspection report can make a buyer second guess their offer to purchase. Nevertheless, these processes are an important part of the home buying transaction and should be considered as such. Whatever you decide to do in regards to property appraisals and inspections, both sellers and buyers should set priorities in order to keep emotions in check during the transaction. And at the end of the day it is crucial to be flexible during negotiations so that you don’t lose out on your dream home or a good deal.

By: Gena Martin Realtor | (765) 210-5582

 

Gena writes about real estate markets and advice. Gena is an Entrepreneur, Owner | Managing Broker at GMR Realty. Real Estate Investor, marketing expert and syndicated columnists. Built six successful companies. Featured on TLC Network. Watch for her upcoming articles on market trends.

 

Posted on December 27, 2016 at 12:50 pm by Gena Martin Realtor

 

Sell Your Home Quicker and For More Money!

 

Thinking of selling and want to know the best moves to make, to sell your home quicker and for more money?

You’ve probably already been looking around and thinking about moving for a few months now, but with the predictions for the market and interest rates already beginning to rise, now is the time to learn, focus, and invest a little time and money to sell your home for more.

This quick guide of easy tips from a real estate professional could drastically help increase the amount of money you can make on the sale of your home and should decrease the amount of time your home sits on the market.

1. Price Below Market Value (This is #1 for a reason!)

List your home below the current market value! Listing your home 5-10% below the current value can have a tremendous effect! Does this sound crazy or nuts to you? As a seller you may be reluctant to try this, but the results may surprise you. This can be highly effective and may drive in even more offers and buyers than you have ever imagined. Creating competition, a bidding war of multiple offers in our currently competitive market!

Selling quicker also means less showings you have to prepare for and less people walking through your home.

Getting the pricing just right is probably the most important step in the home selling process. Set the price right from the beginning! Don’t fall trap to pricing your home too high, since this is also the exact thing that can be a detriment to your home selling at top dollar or even at all.

Remember… Just because you price your home below market value does not mean you have to accept a low offer on your home. Setting the price right is a great technigue to attract a large amount of buyers to your home, which is the path to the goal of selling.

2. Paint the Front Door

You want the main point of entry to look great and very welcoming! So paint the front door or the entire porch if needed.

If the door is old and ugly, it may need replaced. But if just paint can make it work, keeping the cost down is good.

Picking the right color. By carefully choosing the right color for the home, you can unexpectedly make your house feel inviting and stand out from competing homes.

3. Spruce Up the Landscaping

Great curb appeal helps to sell your home for more and quicker. Spruce up the landscaping around the front of your home.

A nice upgrade to your landscaping can be achieved on a small budget. When correctly done, can help to yield a higher return on your money. It is important to take the proper steps when getting your home ready to sell for the spring or summer market.

4. Paint Walls Neutral Colors

Don’t let the color of your walls be the focal point of your home!

Depending on the current condition and color of the walls in your home, you may need to re-paint. Buyers can relate much more to neutral colors in a home and not be distracted by a room that is bold and loud or crazy.

A good agent should be able to help you with current trends on colors for your home.

5. Stain Decks and Driveways

Staining your decks and driveways is a cost effective way to prolong the life of an area that takes a beating from the weather. It will also make a huge difference in the look of your home!

Before getting started, it’s important to know the correct steps… (or call a professional)

When you seal your driveway, stain your decks, update your landscaping, and paint your front door. You are leaving a great impression on any buyer that is taking a look at your home. What a comforting feeling, knowing the home has been properly maintained.

6. Improving the Kitchen

You can earn more money on the sale of your home by carefully planning the “proper” upgrades for your kitchen. Depending on the improvements, it may not be a bad idea to consult with a professional contractor.

You can transform your kitchen on a small budget and still have results. Here are three…

Kitchen Cabinets

Reface your cabinets. Remove the cabinet doors, prep, and piant. You will be surprised at the difference this can make!

Countertops

Are your countertops dated? This is a simple change that can really update the look of your kitchen!

Backsplash

Another simple change that makes a huge difference! This is also a very popular trend in the current market.

6. Clean! Clean! and Light!

Once you have finished doing all of the maintenance and updates throughout the home. Now is a great time to do a deep cleaning and brighten your home!

Clean your house from top to bottom. Have the carpets steam cleaned, if needed. Clean out the closets and pantry. Clean all windows, inside and out, blinds, and window sills too. Deep clean the corners and crevices. Don’t forget the out of reach cobwebs and baseboards to. Even the garage needs organized! Remember.. we are wanting top dollar!

Bring light in to brighten up the home! Replace all burnt out light bulbs throughout the house. Poor lit rooms might need a lamp or two. Open curtains and blinds to let the natural light in! Keep the light balanced though…you don’t want to over do it.

Make it a family day, or weekend! Kids can help clean and brighten to!

Do your homework and take the proper steps to avoid making mistakes when selling your home! Better yet, call a knowledgeable agent for advice. Get started now, so you can complete your repairs and updates and have your home listed BEFORE sellers who wait until spring. Buyers are out there right now!

 

**Gena writes about real estate markets and advice. Gena is an Entrepreneur, Owner | Managing Broker at GMR Realty. Real Estate Investor, marketing expert and syndicated columnists. Built six successful companies. Featured on TLC Network. Watch for her upcoming articles on market trends.

Posted on December 26, 2016 at 1:12 pm by Gena Martin Realtor

 

Most Expensive Homes SOLD in Howard County April 2016

Located in Timber Valley S/D and Western School District (Harrison Township) This 14 year old luxury home features 3,879 sq. ft. of finished living space on .53 acres on .  3 bedrooms, 3 full baths, 1 half bath, fireplace, surround sound system, partially finished basement with bar, and an attached 23 x 38 garage. It SOLD for $325,000, was originally listed for $329,900, was on the market for only 2 days before going pending.

 

 

Located in Willowridge S/D and Kokomo School District   (Center Township) This brand new condo features 1,962 sq. ft. of finished living space on .37 acres, 2 bedrooms, 2 full baths, and an attached 2 car garage. It SOLD for $312,789, was originally listed for $312,789, and was on the market for 0 days before going pending.

 

 

Located in Northwestern School District (Ervin Township) This 14 year old home features 3,150 sq. ft. of finished living space on .89 acres, 4 bedrooms, 2 full baths, 1 half bath, fireplace, gazebo, and an attached 3 car garage. It SOLD for $262,900, was originally listed for $264,900, and was on the market for only 7 days before going pending.

 

Located in Green Acres S/D and Northwestern School District (Ervin Township) This brand new home features 2,232 sq. ft. of finished living space on .40 acres, 4 bedrooms, 2 full baths, 1 half bath, fireplace, and an attached 3 car garage. It SOLD for $235,929, was originally listed for $236,000,  and was on the market for 3 days before going pending.

 

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Whether you’re buying or selling, it’s ultimately about realizing a dream. I understand how much the decision will mean to you. In fact, that’s one of the reasons I became a real estate agent -to help people buy or sell a home, while making the process easy and trouble-free. Clients often tell me how much they appreciate my expertise, my willingness to be there with them every step of the way, and my determination to get them the best deal.

 Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

Posted on May 30, 2016 at 12:04 pm by Gena Martin Realtor

 

 

Not-So-Obvious Home Staging Tips

When it comes to “staging” your home for sale – which basically means ensuring it looks clean and uncluttered – you probably already know the basics: clean the counters, vacuum the floors, mow the lawn, etc.

But there are some home staging tips that are less obvious, yet can help to sell your property faster and for a higher price. For example…

The Kitchen

Obvious: The stove, sinks and countertops should be spotless.

Not-so-obvious: The contents of your cabinets and refrigerator should be facing face forward.

The Bathrooms

Obvious: They should be clean and uncluttered. Have fresh towels hanging neatly on the rack. (The “hotel bathroom” look.)

Not-so-obvious: All towels should match. Ensure toilet lids are closed.

Your Bedroom

Obvious: Make the bed neatly. Check that the closet is organized and uncluttered. (If your closet is bulging with clothes, put some in storage.)

Not-so-obvious: Don’t leave any clothes out. Even clean clothes neatly folded in a hamper can seem untidy to some people.

The Kids’ Bedrooms

Obvious: They need to be clean and, especially, uncluttered. (Good luck!)

Not-so-obvious: Arrange stuffed animals, games and other toys like an attractive display in a toy store. It’s okay to have a toy, like a race track, out of the box. Just make sure it’s completely put together. (No pieces lying around.)

The Garage

Obvious: Make sure the floor is clean and that things are put away.

Not-so-obvious: If possible, get everything (except the car!) off the floor and onto shelves and hanging hooks. This will make a dramatic difference in how roomy the garage will look.

These not-so-obvious staging tips may seem minor, but they add up to a home that is much more attractive to potential buyers.

 

Contact Gena to Sell Your Home (765) 210-5582

 

Posted on March 28, 2016 at 2:19 pm by Gena Martin Realtor

GMR Market Report 2|15|2016

  • Existing home sales jumped 14.7% in December from November to reach a seasonally adjusted annual sales rate of 5.46 million units. Sales in 2015 numbered 5.23 million units, a 6.3% increase over 2014.

⦁ The months’ supply of existing homes dropped to 3.9 months, meaning that it would take just under four months to sell all the homes currently on the market at December’s sales rate. That’s the lowest monthly ratio of housing inventory to sales in more than ten years. During 2015, the average months’ supply was 4.8 months.

⦁ The median price of existing homes sold in 2015 was $219,900, a 6.4% increase over the $206,700 median price for 2014 sales.

⦁ New home sales climbed 10.8% in December to a 544,000-unit annual sales rate. An estimated 501,000 new homes were sold in 2015, a 14.5% increase over sales of 437,000 units in 2014.

⦁ The median sales price of new homes sold in 2015 was $293,600, a 3.8% increase over 2014’s $282,800 median price.

⦁ The home ownership rate was 63.7% in the fourth quarter of 2015, up from 63.6% in the third quarter.

⦁ For households headed by an individual 35 years old or younger, the home ownership rate in 2015’s fourth quarter was 34.7%, down from 35.3% a year earlier.

⦁ The average rate on 30-year fixed-rate mortgages in Freddie Mac’s survey was 3.79% during the week ending January 28. That’s four consecutive weeks of declines since the 4.01% average posted during the last week of 2015. The January average was 3.87%, down from December’s 3.96%.

 

Get Your Home Listed and Sold by calling Gena at (765) 210-5582

 

Direct: 765-210-5582       Email: gmrrealtyllc@gmail.com

Posted on February 16, 2016 at 1:41 pm by Gena Martin Realtor

2015’s Most Expensive Homes SOLD In Carroll County

Located in Carroll Consolidated School Corp. (Monroe Township) This 14 year old custom built home features 3,790 sq. ft. of finished living space on 8.41 acres,  4 bedrooms, 3 full baths, a fully finished walkout basement, 2 fireplaces, a fully stocked pond, heated guest cabin, Wildcat Creek frontage, and an attached 3 car garage. It SOLD for $550,000, was originally listed for $699,900, was on the market for 28 days before going pending.

 

Located in Twin Lakes School Corp. (Jefferson Township) This 67 year old Lake Freeman home features 2,260 sq. ft. of finished living space on a small parcel, 3 bedrooms, 2 full baths, 1 half bath, a fireplace, a permanent boat lift, and an attached 2 car garage. It SOLD for $380,000, was originally listed for $399,900, and was on the market for 581 days before going pending.

 

Located in Rossville Consolidated School District (Clay Township) This 10 year old home features 5,718 sq. ft. of finished living space on 9.20 acres, 6 bedrooms, 3 full baths, 1 half bath, a fireplace, 2 kitchens, a full finished basement, a 4 bay detached garage, and an attached 3 car garage. It SOLD for $370,000, was originally listed for $425,000, and was on the market for 83 days before going pending.

 

Located in Twin Lakes School Corp. (Jefferson Township) This 50 year old Lake Freedom home features 2,359 sq. ft. of finished living space on .65 acres, 4 bedrooms, 3 full baths, a fireplace, a permanent boat lift, and a 3 car garage. It SOLD for $365,000 was originally listed for $379,000, and was on the market for 41 days before going pending.

 

Located in Delphi Community School Corp. (Tippecanoe Township) This 178 year old historic home features 3,671 sq. ft. of finished living space on 5.34 partially wooded acres,  4 bedrooms, 3 full baths, 5 fireplaces, a sun room, full unfinished basement, a barn, and a 4 car garage. It SOLD for $350,000, was originally listed for $350,000, was on the market for 23 days before going pending.

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Thinking of selling your home? Let me help to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging. Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

Posted on January 3, 2016 at 1:24 pm by Gena Martin Realtor

 

2015’s Most Expensive Homes SOLD In Zionsville

Located Zionsville Community School District (Eagle Township) This 41 year old home features 2,988 sq. ft. of finished living space on 3.92 acres,  4 bedrooms, 3 full baths, 1 half bath, a fireplace, and an attached 3 car garage. It SOLD for $371,000, was originally listed for $385,000, was on the market for 196 days before going pending.

 

Located in Zionsville Community School District (Eagle Township) This 15 year old home features 4,214 sq. ft. of finished living space on .43 acres, 4 bedrooms, 2 full baths, 1 half bath, a fireplace, in-ground pool, and an attached 3 car garage. It SOLD for $359,900, was originally listed for $375,000, and was on the market for only 1 day before going pending.

 

Located in Zionsville Community School District (Union Township) This 28 year old custom built, rural home features 3,055 sq. ft. of finished living space on 3 partially wooded acres, 3 bedrooms, 2 full baths, 1 half bath, a fireplace, sunroom, a partially finished basement, and an attached 2 car garage. It SOLD for $344,500, was originally listed for $379,900, and was on the market for only 248 days before going pending.

 

Located in Zionsville Community School District (Eagle Township) This 3 year old home features 3,487 sq. ft. of finished living space on .20 acres, 4 bedrooms, 2 full baths, 1 half bath, a fireplace, partial finished basement, rec. room, and an attached 3 car garage. It SOLD for $265,000, was originally listed for $269,900,  and was on the market only 7 days before going pending.

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Thinking of selling your home? Let me help to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging. Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

Posted on January 2, 2016 at 9:06 pm by Gena Martin Realtor

2015’s Most Expensive Homes SOLD In Tippecanoe County

Located in Scharerdon SD and Tippecanoe School Corp. (Wabash Township) This 1 year old home features 7,012 sq. ft. of finished living space on 1.78 acres,  5 bedrooms, 4 full baths, 2 half baths, in-law suite, a walkout basement, and an attached 4 car garage. It SOLD for $1,058,602, was originally listed for $1,058,602, was on the market for 0 days before going pending.

 

Located in West Lafayette Community School Corp. (Wabash Township) This brand new, contemporary custom built home features 4,165 sq. ft. of finished living space on 1.30 acres, 5 bedrooms, 5 full baths, 1 half bath, a fireplace, full walkout basement, and an attached 2 car garage. It SOLD for $668,750, was originally listed for $765,000, and was on the market for 35 days before going pending.

 

Located in Julius Spring S/D and Tippecanoe School Corp. (Fairfield Township) This 11 year old luxury home features 5,850 sq. ft. of finished living space on 10 partially wooded acres, 5 bedrooms, 4 full baths, 1 half bath, 2 kitchens, 2 fireplaces, finished walkout basement, a full gym, and an attached 3 car garage. It SOLD for $660,000, was originally listed for $679,900, and was on the market for only 7 days before going pending.

 

Located in Creekside S/D and Tippecanoe School Corp. (Perry Township) This 9 year old home features 4,166 sq. ft. of finished living space on 1.19 acres, 5 bedrooms, 4 full baths, 1 half bath, fireplace, office, exercise room, custom built bar, in-ground pool, a pool house, and an attached 3 car garage. It SOLD for $660,000, was originally listed for $735,000,  and was on the market for 48 days before going pending.

 

Located in Raineybrook S/D and Tippecanoe School Corp. (Union Township) This 3 year old custom estate features 5,232 sq. ft. of finished living space on 2.14 acres, 5 bedrooms, 3 full baths, 1 half bath, 2 kitchens, recreation room, 2 fireplaces, a finished walkout basement, creek, and an attached 5 car garage. It SOLD for $650,000 was originally listed for $699,900,  and was on the market for 57 days before going pending.

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Thinking of selling your home? Let me help to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging. Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

Posted on January 2, 2016 at 8:51 pm by Gena Martin Realtor

2015’s Most Expensive Homes SOLD In Howard County

Located in Northwestern School District (Howard Township) This brand new rural home features 5,150 sq. ft. of finished living space on 3.57 acres.  4 bedrooms, 3 full baths, 1 half bath, and an attached 30 x 30 garage. It SOLD for $908,333, was originally listed for $908,333, and was on the market for 13 days before going pending.

 

 

Located in Sonesta Shores S/D and Northwestern School District   (Harrison Township) This 23 year old waterfront home features 6,112 sq. ft. of finished living space on 1.55 acres, 4 bedrooms, 4 full baths, 1 half bath, fireplace, walkout basement, in-ground pool, and an attached 3 car garage. It SOLD for $645,000, was originally listed for $750,000, and was on the market for 1221 days before going pending.

 

Located in Emerald Lake S/D and Western School District (Harrison Township) This 12 year old waterfront home features 5,117 sq. ft. of finished living space on 1.15 acres, 4 bedrooms, 3 full baths, 1 half bath, 2 fireplaces, walkout basement, sunroom, game room, private dock, and an attached 3 car garage. It SOLD for $610,000, was originally listed for $629,900, and was on the market for only 6 days before going pending.

 

 

Located in Sycamore Farms S/D and Northwestern School District (Clay Township) This brand new home features 2,793 sq. ft. of finished living space on .70 acres, 3 bedrooms, 3 full baths, 1 half bath, fireplace, and an attached 3 car garage. It SOLD for $540,000, was originally listed for $540,000, and was on the market for 0 days before going pending.

 

 

Located in Sycamore Farms S/D and Northwestern School District (Clay Township) This brand new home features 3,415 sq. ft. of finished living space on .71 acres, 4 bedrooms, 3 full baths, 1 half bath, a fireplace, full finished basement, and an attached 3 car garage. It SOLD for $466,880, was originally listed for $466,880, and was on the market for 0 days before going pending.

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Thinking of selling your home? Let me help to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging. Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

 

Posted on January 2, 2016 at 8:44 pm by Gena Martin Realtor

Engaging In Staging

Empty homes or even empty rooms can make it hard on buyers to envision how their own furnishings may look in a home. Having minimal furnishings and decor will make homes more appealing to prospective buyers.

“Staging” or showing your home in the best way is tremendously important for getting your home sold quickly. Here are some tips to help you earn a standing ovation and a quicker sale.

  • Whether the house is vacant or you’re still occupying it, make repairs and organize before you even begin to market the home.
  • Remove all excess clutter from house and excess items on tables and counters. You’re moving so go ahead and just pack it all away.
  • Fresh flowers and candles will liven up the place. Don’t overdue it though.
  • Keep lights on for showings and window treatments, including blinds open to provide lots of light and no obstruction to views.
  • Are your closets large and organized? Leave the closet door open some to make the space and organization obvious.
  • Put freshly folded towels in the bathrooms.
  • If you have a surround sound system, play low and soothing background music during showings.
  • Bake cookies to scent the house with a “homey” feeling. Burn oils that release a natural comfort aroma like vanilla, cinnamon, or apple.
  • If you have a fireplace and it’s in the cooler months, have a fire going.

These are just some of the easy things anyone can do to get a home sold quicker. A real estate “expert” in your area should be able to tell you if your home needs additional things completed, once they visit your home, that would help make your transaction happen quicker.

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Selling your home in Kokomo, Lafayette, or Zionsville Areas? Let me help you to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging.

Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

Gena Martin Realtor, Managing Broker

 

Posted on December 24, 2015 at 6:54 am by Gena Martin Realtor

Protect Yourself With A Property Inspection

What looks great, may not always be good.

This is certainly true when it comes to buying real estate. There are many things that the untrained eye just can’t see, which is why property inspections are so important.

Inspections are a very important part of buying real estate! They can uncover hidden problems, help you to avoid unexpected expenses, and gain leverage in negotiations.

Buying a home is one of the largest investments you will make for yourself and your family. It just makes sense to have an expert objectively evaluate the condition of all components of a property, so you don’t end up walking blindly into costly repairs or remediation.

Property inspections can be a complicated topic. And because it can be too technical and time consuming to do an explanation of all of the many inspections available, it’s important to know some basics.

You can save money and skip an inspection, or do it yourself….

Bad idea!

You only need to miss ONE major thing, or even a minor one, to see all that “savings” disappear.

So…Get Inspections that you need.

Attend the end of the inspections if you can. This will give the inspector the opportunity to inform you of everything that was found and you the opportunity to ask questions.

Even though you can and SHOULD read the inspection reports when you receive them, they’ll mean a lot more and you’ll understand everything better, if you’re actually present to discuss the details with the inspector.

Hire a licensed and experienced property inspector. Like any profession, you’ll find dedicated, competent, diligent providers. And you’ll find those who are lazy, incompetent, and inexperienced.

You can bet one’s cheaper and you can bet one costs more. Guess which one you should hire? You get what you pay for…right?

The big things may seem obvious to even an unexperienced person, however sometimes there are things lurking underground or behind walls, that cannot be seen, but can be VERY expensive to fix. A professional can be a great way to have an experienced set of eyes looking over the property.

Don’t try to represent yourself or use a friend or family member who has no substantial relevant experience.

It’s just smart to use a experienced and qualified licensed inspector. Someone who has been involved in many transactions will see and find things you won’t. And a knowledgable real estate broker will know how to renegotiate the deal if necessary.

Know that seller’s are supposed to tell you ALL about the property. But sometimes they do leave things out. These things an inspector will be looking for.

The idea of property inspections is simple. To investigate and discover each component. The structure; foundation, pests, electrical, fireplaces, appliances, plumbing, HVAC, and roof. Toxins ; asbestos, radon, mold. Infrastructure; sewer, septic, and well as needed.

Knowledge is Power… The price offered was offered based on what you knew and were informed of about the property. If something major comes up, it’s reasonable to ask for adjustments. It doesn’t mean you’ll get them, but you definitely won’t if you don’t ask. And if you don’t get what you want, you’ll have to decide if it’s really worth blowing the entire deal over.

Also it’s important to remember that a “used” property isn’t going to be perfect.

Sellers, you can always order property inspections before you sell, which can prevent unexpected and unwanted surprises later. It can help you to adjust your price accordingly. This can also be your second opinion, if needed later. It will show professionalism and honesty for additional negotiating and transactions.

Keep in mind that once you know about something “material”, as a seller in virtually all jurisdictions (in the U.S.), you’re required to disclose. You don’t want to misrepresent by not informing.

So whether your the buyer or seller, it’s best to get a quality property inspection from an experienced licensed inspector and use them to negotiate a fair deal to both sides. You may pay a little more, but you’ll sleep better at night.

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Selling your home in Kokomo, Lafayette, or Zionsville Areas? Let me help you to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging.

Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

Gena Martin Realtor, Managing Broker

 

Posted on December 4, 2015 at 11:24 am by Gena Martin Realtor

 

Most Expensive Homes SOLD In Tippecanoe County In October 2015

The most desired information in most communities is the amount a home has SOLD for, especially in the luxury home market. Keep reading to find out what the most expensive homes SOLD for in October in tippecanoe county Indiana.

 

Located In Cambria SD | Lafayette School Corp. – This country estate features 4,069 sq. ft. of finished living space on 10.52 acres, 5 bedrooms, 5 full baths, 1 half bath, a fireplace, master suite, in ground pool, and an attached 3 car garage with overhead living quarters. It SOLD for $460,000, was originally listed for $509,000, and was on the market for 76 days before going pending.

 

Located In Hill and Dales SD |West Lafayette Community School District – This 77 year old home features 2,628 sq. ft. of finished living space on .53 acres, 4 bedrooms, 2 full baths, 1 half bath, a fireplace, unfinished basement, and an attached 2 car garage. It SOLD for $440,000, was originally listed for $450,000, and was on the market for only 9 days before going pending.

 

Located In Catterson Hallow SD | Benton Central School District – This 20 year old home features 3,809 sq. ft. of finished living space on 2.20 acres, 4 bedrooms, 3 full baths, 1 half bath, a fireplace, master suite, and an attached 3 car garage. It SOLD for $395,000, was originally listed for $425,000, and was on the market for 108 days before going pending.

 

Country Home | Tippecanoe School District – This 16 year old home features 4,142 sq. ft. of finished living space on 2.90 acres, 5 bedrooms, 3 full baths, 1 half bath, a fireplace, master suite, full unfinished basement, 2 furnaces, and an attached 2 car garage. It SOLD for $390,000, was originally listed for $460,000, and was on the market for 66 days before going pending.

Look for the Most Expensive Homes SOLD in other counties athttp://www.genamartinrealtor.com

 

Let’s do it YOUR way!

Buying a home in Kokomo or Lafayette areas? Let me know your dream home and the kind community you wish to live in. Tell me your wants and needs. Let me know what’s important to YOU, and we’ll find the community and home that you desire.

Selling your home in Kokomo or Lafayette Areas? Let me help you to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging.

Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

Posted on November 20, 2015 at 9:33 am by Gena Martin Realtor

 

Most Expensive Homes SOLD In Howard County In October 2015

The most desired information in most communities is the amount a home has SOLD for, especially in the luxury home market. Keep reading to find out what the most expensive homes SOLD for in October in howard county Indiana.

 

Located In Sycamore Farms SD | Northwestern School District – This brand new Cardwell Built home features 2,793 sq. ft. of finished living space on.70 acres, 3 bedrooms, 3 full baths, 1 half bath, a fireplace, full unfinished basement, and an attached 3 car garage. It listed and SOLD for $540,000.

 

Located In Sycamore Farms SD | Northwestern School District – This 9 year old Cardwell Built home features 3,804 sq. ft. of finished living space on.70 acres, 4 bedrooms, 2 full baths, 2 half baths, a fireplace, coffered ceilings, master suite, whole house generator, an in ground pool, and an attached 3 car garage. It SOLD for $389,900, was originally listed for $409,000, and was on the market for 129 days before going pending.

 

Located In Timber Valley SD | Western School District – This 12 year old Graber home features 4,665 sq. ft. of finished living space on.44 acres, 4 bedrooms, 4 full baths, 1 half bath, a fireplace, master suite, and an attached 3 car garage. It SOLD for $370,000, was originally listed for $409,900, and was on the market for 236 days before going pending.

 

Located In Sugar Mill Farm SD | Western School District – This brand new home features 2,446 sq. ft. of finished living space on 1.21 acres, 4 bedrooms, 2 full baths, 1 half bath, a fireplace, master suite, and an attached 3 car garage. It SOLD for $289,900, was originally listed for $289,900, and was on the market for 24 days before going pending.

Look for the Most Expensive Homes SOLD in other counties at http://www.genamartinrealtor.com

 

Let’s do it YOUR way!

Buying a home in Kokomo or Lafayette areas? Let me know your dream home and the kind community you wish to live in. Tell me your wants and needs. Let me know what’s important to YOU, and we’ll find the community and home that you desire.

Selling your home in Kokomo or Lafayette Areas? Let me help you to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging.

Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582

 

Posted on November 20, 2015 at 8:58 am by Gena Martin Realtor

 

Potential Sellers Need To Know

Five of the eight  months this year so far, inventory has been less than it was the same month  last year. Now, at the same time,  demand is going through the roof. Supply is lower than it was, and demand is much greater than it was. That’s left us with a shortage of inventory in a big  way. That’s enables sellers to go ahead and get a great deal, at the right  price. Sellers can still sell quickly.

Houses are selling quickly right now, because there is a shortage of inventory. Inventory needs to be increased  in a big way. But there is a challenge… A shortage of inventory gives a seller a tremendous advantage.  They can get the right price, they’ll have less hassles, since  the buyers will be less picky, and it should all get done quicker. That’s happening to the people that are currently in the market.

53% of homeowners don’t realize that the number of homes for sale on the market is lower than  it was last year.  And 94%, almost every one of the potential sellers, believe that  listing inventory has not  recently decreased, but in reality the number of listings on the market, compared to last year, has  dramatically decreased over the last couple of months.

This seems like a perfect time to sell, right? Many buyers looking, but not enough houses on the market. So why are sellers not putting their homes on the market? I believe it to be that they are a little bit nervous. Not sure about credit scores and mortgage requirements. So many things have changed that they are just like the first time homebuyer! They’re reading the same newspapers, they’re hearing the same  newscasts, they’ve  bought into the same rumors. They think that lending requirements are getting stricter. They’re not! They’re easing. They’ve  been easing for over a year now. They think they’re trapped in their current mortgage.  9% of people are  still in negative equity in this country, but 23% believe they are. There is a whole group of  people that think they’re trapped in their mortgage, that aren’t! 

The facts are good to know and a good knowledgeable Realtor can give you the right information. If you’re even contemplating selling your home, but think you should still wait, you should know some of the current real estate information…

Interest rates are still low

Buyers are out looking at homes, foot traffic is very strong

Existing home prices are strong across the entire country

Home sales are strong

Inventory is low

Down Payments can be as low as 3%

The only guestion now is, what are potential sellers waiting for?

 

You can reach Gena at 765-210-5582 or by email gmrrealtyllc@gmail.com

 

 

Posted on November 3, 2015 at 9:39 am by Gena Martin Realtor

 

Reality Of Buying A Home May Be Cheaper Than You Think

According to a Federal Reserve study done in the last thirty days, 81% of the renters indicate that they would prefer to own their home if they could do so. More than eight out of ten renters would much rather own than they would rent.

Breaking it down in the report, the non‐financial and the financial reasons people felt that way. Non‐financial reasons… They simply prefer to own, they want to be the king of their own castle. There are fewer rules. There’s no landlord telling them what they can do. And 23% say they don’t like to move. When you own your home you have stability there. When you’re renting, you’re not sure at the end of that lease what’s going to happen.

Now for the financial reasons… It allows you to build equity. Again, it’s cheaper than renting and people begin to realize that more and more now. And 20% even said it provides certainty of monthly payments. They know what their expenses are going to be. And that’s important, since they can budget and they can budget savings too.

In the report, it showed that the median home equity of a home in this country is $80,000. That’s how much people have in their home equity. But homeowner’s, in addition to that, have $7,300 in liquid cash savings. There’s a continuity of what their payments are going to be. And they… Once you have a thirty year fixed rate mortgage, for the most part that payment stays the same, unlike rent that keeps on going up. When you compare that to a renter who has, in total, a median cash savings of $800, which might be one month’s rent, it’s really truly amazing. People understand that owning a home builds wealth. And that comes in home equity.

So most renters realize that jumping into a house is crucially important because it’s a forced savings that will give them money later in their life. And money that can be tapped into later, if needed. But although renters know how important it is, 50% say that they can’t buy a house because they can’t afford a down payment and 41% say they’d love to own a house but they can’t qualify for a mortgage. A survey of renters showed that two thirds believe that they need a very good credit score to buy a home with 45% thinking a good credit score is over 780. They also overestimate the down payment funds needed to qualify for a home loan with 36% thinking a 20% down payment is always required. If you are a renter, with this kind of thinking…continue reading for better information.

Let’s take a look at the reality of the situation…

People think they need a 20% down payment. According to Realty Direct (this past quarter)…The number of loans being done with less, with only 3% or less down is increasing and is already at 30%. And when we’re talking about a 3% or less down loan, 11% of all conventional loans are done with 3% down or

less. And 83% of FHA loans are done with 3% or less. Cheaper than you thought?

Let’s talk about FICO score….

Many home buyers think they need at least 790, 800. Well, the average FICO score on approved loans that are conventional is 757, much less than the 800 they think they need. And on FHA loans, it’s 688, 100 points less than they think they need.

Fanny Mae, Freddy Mac, and the mortgage bank association projections over the next four quarters…

By averaging all four projections together, by this time next year interest rates are going to be about three quarters of a percentage point higher if these projections stay. That will affect mortgage payments. Except for the last couple of years, there’s never been a time cheaper to buy a house than now. Those bars are starting to tick up again. People that are ready, willing, and able to buy right now should know that now is the time. You can save money on a month to month basis and build equity.

 

(Call Gena for more info on how you may be able to get a loan with just 3% down with a credit score as low as 580)

You can reach Gena at 765-210-5582 or by email gmrrealtyllc@gmail.com

 

Posted on July 26, 2015 at 3:30 pm by Gena Martin Realtor