PAULA HENRY
REALTOR ®
RE/MAX Excel
Office: 317-272-5002
Direct: 317-605-4174
Fax: 866-373-5769
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Home…….
May 5th, 2008 categories: Quoteable Quotes
Where we love is home,
Home that our feet may leave, but not our hearts.
~Oliver Wendell Holmes
| Discussion: 2 Comments »
Trees in Indiana
May 5th, 2008 categories: Indy Photo Spot, Indy Trivia
More than 100 species of trees are native to Indiana. Before the pioneer’s arrived, more than 80% of Indiana was covered with forest. Now only 17% of the state is considered forested.
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The Indiana State Tree, the Tulip Tree (top left) is always beautiful. Messy, but beautiful! Spring has brought us an abundance of blooms and color. Last year’s frost ended spring blooms abruptly.
This year, natures beauty can be seen throughout the city.
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Working with Banks
May 5th, 2008 categories: Indianapolis Real Estate, Indy Foreclosures, Real Estate Financing
You don’t have to search too long to find bank owned homes in the Indianapolis Metropolitan area. There are plenty around town and more than likely some are really good deals. Banked Owned Homes or REO (Real Estate Owned) properties are homes which the owner defaulted on. The home has been foreclosed on, went to the Sherrif’s sale, and no one bought. Now, the bank has it in it’s portfolio.
I have heard banks don’t like owning real estate in this manner. I’m sure they like owning real estate, just not the real estate on their books as non-performing assets. I have also read banks are willing to assist those who have fallen behind on their payments.
I’m not sure either of these statements are true. The banks and lenders I have worked with seem to stall every chance they get. My team and I have represented several homeowners in the short sale process, as well as buyers who have made offers on bank owned property, only to have the bank thrawt our efforts to bring them a buyer and close the transaction.
A few deals gone bad…….
* Clients home is listed as short sale and we submit an offer for $113,000. The bank never responds to the offer or our phone calls. The property is foreclosed on and offered for sale by the Sherrif. No takers! Bank then puts the home on the market for $89,500 and closes in three weeks.
* We represent the buyer of a home for $76,000. The bank does not have clear title. Our clients wait two months past the original closing date, only to find out the judge has still not signed the strict foreclosure paperwork. They decide to look for another home. Bank puts the home back on the market for $59,000.
* Again representing the buyer, the bank takes three weeks to turn on the water so my client can perform inspections. With one week before closing, the bank refuses to repair major components of the home; no compensation or reduction in price to cover the costs. My client walked, bought another home, and the bank owned home is still on the market.
And to think, we deposit our money for safe keeping with some of these institutions………Hmmmm…
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Does Staging a Home Help it Sell?
May 4th, 2008 categories: Brownsburg Real Estate, Indy Home Sellers
As part of my listing agreement with my clients, I offer a complimentary staging consultation. Many ask me if staging is really a benefit. Although I believe it is, it really doesn’t matter what I think, it is the buyer’s we really want to impress.
Are we trying to deceive the buyers? Not at all! What we aim to do with staging is present the home in it’s best light, maximize the space, therefore, giving the buyers an idea of what type, style and size furnishings will fit in each room. When your home is on the market, being conscientious of the flow of the space and the blend of colors you use is important.
Our goal is to appeal to the largest amount of buyers in the market for your home. When you decide to sell your home, you have to move out emotionally before the SOLD sign is up and moving day has arrived.
I have written about staging your Indianpolis home in past articles.That being said, I have recently listed a home in Brownsburg which I have before and after pictures of.
Which home would you be most likely to want to visit?
Tour the complete show of this home.
View additional listings which have been staged or lived in as if they were staged.
8435 Heathermor in Avon 414 Appleton in Indianapolis
6745 Oak Lake in Indianapolis 432 Castle Ct in Avon
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Help Buying Your First Home in Indianapolis
April 25th, 2008 categories: Indianapolis Real Estate News, Indy Home Buyers, Real Estate Financing
Recent changes in loan programs have put the squeeze on some who were considering buying a home. I received an email two days ago from a client I had been working with, stating his pre-approval had expired and since he could no longer finance 100%, his home buying plans are on hold. He is moving to Indianapolis from another state and didn’t make the move in time to keep the loan program he was initially qualified for, which would have put him in a home with zero down.
I responded to let him know there are loan programs available which will allow him to buy a home with little money out of pocket. Here in Indiana, we have the Indiana Housing program for first time home buyers. There are specific requirements, but the program can’t be beat if you qualify.
A few of the specifics:
*Available for First Time Home Buyers or
*Buyers who haven’t owned a home in the last three years
You will need three years tax returns to verify there were no homeowner tax deductions taken in the time period.
Income Guidelines:
* $63,800. for 1–2 person household
* $73,370. for 3 or more person household
* All family income counts regardless of whose name is on the loan
Loan can be FHA or Conventional
The current interest rate is 5.25%, which can be reduced by 1/8% to 5.125% when the buyer takes an online course about home ownership.
The program can be used with or without downpayment assistance. Down payment assistance is capped at $3500.00 and is subject to repayment when the home is sold or the loan refinanced.
If you’re looking to buy your first home, let’s talk. One of my preferred lenders will be happy to assist you in determining the best loan program for your specific circumstances.
Related Articles:
Preparation is Key When Buying a Home
Business Planning and Real Estate
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Selling Your Indianapolis Home ~ Pictures Tell A Story
April 9th, 2008 categories: Indy Home Buyers, Indy Home Sellers
While searching available homes for sale in Indianapolis, I stumbled upon something I don’t quite understand. Although I try to stay on top of the latest marketing ideas to ensure my clients homes are marketed to the largest amount of buyers looking for homes, I’ll be the first to admit, there are some new marketing or technology ideas I haven’t yet tested.
This one, though, confounds me! Itty, bitty pictures on the MLS.
These are the actual size of the pictures displayed in their largest format of these two homes. The smaller version is barely visible. 
The second one has no additional pictures. The first one has more pictures, all the same size. These are from two different agents who work for the same local company. Maybe, it is a new marketing strategy. My question would be, Is there value here for my seller?
Could it be, if you only show an itty-bitty picture, you will pique the buyer’s interest and they will have to come out and see the home? Surely not! With gas at over $3.25 a gallon, would buyers really jump in their car to see a home based on the representation of these photos?
When statistics show the buyer WANTS pictures, why would you not give them pictures, especially when the home is new? 83 % of buyers want pictures! I believe in giving the buyer what they are looking for when they come upon my seller’s home………Pictures, lots of pictures, a virtual tour and accurate detailed information. Some may think it’s beneficial to provide limited pictures, so buyers will come by. I do see some logic in that and can tell you, I have never had a seller tell me they don’t want pictures. I have had more buyers complain when there aren’t pictures. As a matter of fact, my experience tells me buyers will pass over a home without pictures.
Pictures tell a story! Itty-bitty pictures tell me there’s something about the property the seller doesn’t want seen……..Both of these homes are new, so I can’t imagine there is something you would want to hide.
I am always willing to consider my ideas may be wrong and there may be a better way to market a home online. I don’t think this is it! I would love to hear from homebuyer’s who are searching the internet for homes. Do you pass by homes with little or no pictures or do they pique your interest?
| Discussion: 2 Comments »
Pricing Your Home to Sell ~ Part 2
April 9th, 2008 categories: Indianapolis Real Estate News, Indy Home Sellers
The Importance of Pricing Your Home Correctly From The Beginning
It never fails, when I am talking with a home seller, they want to try to get a higher price than the comparable homes in the neighborhood are currently selling for. I can’t blame them, I want the highest price for them. I understand the reasoning of pricing a bit high in case the buyer offers a lower price. It can be done and successfully, depending on your competition. When there are too many homes available just like yours, you have to 
be priced accordingly. Of course, there is some room for upgrades and specific amenities, but you don’t want to attach too high a price to them.
Generally, the hardest hurdle to overcome is the emotional attachment people have to their home. Memories created in a home are what makes it a home. The problem is, the buyer has no sentiment about your home. They are looking at making it their home. They don’t care if this was your first home, or whether you personally installed every upgrade. They are comparing your home with every other home with the same square foot in the general area. If they feel the upgrades are worth the cost, they will buy. If not, they will move on to the next home.
The very best time to get the price right is when you list the home. The graph to the left indicates the activity a home recieves when it is first listed on the market. The initial activity can not be repeated. The longer your home is on the market - it becomes stale and is subject to a decrease in activity and subsequently, a decrease in price to raise activity to a higher level.
Marketing Matters When Selling Your Indianapolis Home
Do Increased Commissions Sell Homes?
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