Paula Henry

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Archive for August, 2007

The HOA Will Have It’s Way!

August 26th, 2007 categories: Indianapolis Real Estate News, Indy Home Buyers, Indy Home Sellers

New HomeThere are many factors to consider when purchasing a home besides the size and location. When considering the purchase of a home which is governed by a Home Owners Association, you need to confirm the CC&R’s or Covenants, Conditions and Restrictions allow you the flexibility to live and enjoy the lifestyle you want. Every HOA has different guidelines and restrictions; some are much stricter than others.

While many enjoy the benefits a Home Owner Association provides in the development and continuity of the neighborhood, there are others who refuse to live in such a neighborhood. Some of the more common restrictions in Indianapolis which home buyers should be aware of are:

* Fences - Some neighborhoods do not allow fences at all, while most have definate guidelines in place for the style, heighth and placement of fences. Many Associations also do not allow the drainage area around the property line to be fenced. Confining limits of children and pets at home can be difficult without a fence.

* Parking - The ability to park large vehicles, boats and travel trailers is prohibited in many neighborhoods governed by an HOA. The cost of storage for these vehicles should be considered. There is generally no parking allowed on the street.

* Plants - Maintenance free communities are popular in Indianapolis. Since these communities take care of the lawn and trees, they have a limit to the amount of space and location of additional plants. If gardening is your hobby, make sure you have enough space to plant.

* Size - Custom Home communities have a minimum square foot requirement for homes. Make sure your building plans match the guidelines before purchasing your lot.

* Sheds and Pole Barns - Don’t settle for that two car garage thinking you can erect a utility shed or pole barn before you check out the CC&R’s. Many developments do not allow or severly restrict the guidelines for out buildings.

* Exterior Constrution and Color - Most custom home neighborhoods have guidelines for the use of brick on the exterior of the home, which can increase the cost of construction. Other neighborhoods limit the color of exterior paint.

Our Indiana real estate contract allows a review of the HOA documents within a determined time frame. It is important to review the documents thoroughly for guidelines which are important to you.

Once you sign, the HOA will have it’s way!

Here s what Realtors around the country have to say about HOA s:

  • Home Owner Association Rules that can come back to bite you by Joanne Hanson
  • Sunriver Rules and The Condo Rules - They May Make A Difference in Where You Buy! by Thesa Chambers
  • Home Owner Assocations are love hate relationships by Missy Caulk

  • Homeowner Associations in Camarillo, Are they for You? By Mana Tulberg
  • No Pay No Stay And Other HOA Rules In The Woodlands by Stephanie Edwards-Musa
  • CC&R s in Stanford, NC by Rita Taylor
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    Pictures - A Homebuyers Inside Look!

    August 18th, 2007 categories: Indy Home Sellers

    CameraMy daughter was sitting with me at the computer one night, looking at homes on the MLS. She and her husband are thinking about buying a new home, maybe getting something a little bigger.

    When we came to a home with no pictures, I would stop to read the info - does it have a basement, square foot, bedrooms, etc. She said, “forget it, why don’t people post pictures with these homes“? Her question was valid!

    I had to tell her I honestly have no idea.

    She knows I tote my camera everywhere and am perplexed at the absence of pictures in the MLS. Now I know there may be a few homes on the market, where, there is no way around it, you just can’t get a good interior shot. I think at least one good shot of the front, some idea about the home should be given.

    I’m not even sure they have to be the best photos and you don’t have to be a professional photographer (I’m not). But good photos with a digital camera are fairly easy. Gone are the days of waiting for your pictures. I can easily take a 100 photos and delete those which did not turn out.

    Experience tells me the consumer just passes by the homes with no photos. Having photos definately increases the odds a buyer will stop to look at the home. If you can get them to stop for a minute, they may take time to read the info. Hey, they may even decide a personal tour is in order so they can see more.

    I am a firm believer in marketing with multiple photos, Real Estate Shows and on multiple websites. You never know where the buyer may be searching when they find my clients home. One thing for sure, they will find photos, as many as I can post! When your selling your Indianapolis home, give the buyers an inside look!

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    Authored by Chris | Discussion: 9 Comments »

    First Home

    August 18th, 2007 categories: Indy Home Buyers

    First HomeI love real estate! This is a business with its ups and downs and sometimes sideways roads to maneuver. Even when you think you might have it all figured out, you usually don’t. The next transaction will be the one which proves it to you. There’s always change……Rules change, contracts change, disclosures change and yes, the market changes.

    The one thing which never changes for me is the unbelievable HIGH I get from helping my clients achieve their dream of owning a home.

    One of my closings this week was a young and I mean young couple who wanted to buy a home, rather than throw their money away on rent. Their price point was going to be a bit difficult, even in Indianapolis, where we have the most affordable housing in the nation.

    I was up for the challenge! I love a challenge!

    We found the perfect house for them! This cute one bedroom bungalow, totally remodeled, original wood floors, large yard, 1.5 car garage and they love it.

    Not only will they save a couple hundred a month versus renting, the rental history on this home has their payment at about $200. less than rents. They will have a great little investment property once they decide to move up or move on.

    They signed yesterday, grabbed their keys, walked to their car and everyone in the closing room was excited as we watched them walk across the parking lot. I was on cloud nine the rest of the day! The immense satisfaction makes me want to go out and do it again and again. This is what I do, help make dreams come true!

    Later in the afternoon, I received a call from my office; I had a package delivered. I picked it up today. Inside was a spa package and a note from my clients.

    Paula -

    Thanks you so much for all your help! We really appreciate everything. Now, take a day and relax.:) -

    Sincerely,

    Carene and Adam

    _________________________________________________________________________________________________________

    All I can say, is “Thank you Carene and Adam”….you made my week! It was my sincere pleasure to help you find your first home. I wish you many beautiful memories created together there, in your home! Congratulations

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    Green Savings in Indianapolis

    August 18th, 2007 categories: Indianapolis Real Estate News, Indy Home Buyers, Indy Home Sellers

    ElectricityOne of the questions I hear repeatedly from my clients who are buying a home in Indianapolis, is, “how much are the utilities”? This is a difficult question to answer.

    Although we can easily access the past history of utility charges for a given property, utility costs are more dependant on personal usage.

    While the current costs of utilities are a consideration when buying a home, there are some simple changes you can make to reduce the cost.

    Today, there are many options available which provide both savings and protect the environment. Integrating just a few of these ideas will help reduce your overall utility costs.

    Water Usage:

    • Repair leaky faucets and running toilets.
    • Use the correct water level when washing clothes.
    • Run the dishwasher when it is full.

    Green Options:

    • Install low flow toilets and plumbing fixtures to reduce water usage
    • Front load washers use up to 66% less water and 75% less detergent
    • Tankless water heaters - heats water instantly and on demand.
    • When it’s time to replace old appliances, buy Energy Star.

    Electric:

    • Replace existing light bulbs with CFL’s (Compact Fluorescent Lamps)
    • Caulk or seal around doors and windows
    • Turn off lights and program your thermostat
    • Insulate your water heater
    • Add attic insulation
    • Replace Windows
    • Replace heating and cooling system filters every 60 days

    Green Options:

    • High Efficiency Heat Pumps or Geothermal Heat Pumps
    • Cellulose Insulation
    • Argon filled double pane windows
    • Tankless water heater
    • Replace older Heating and Cooling units with high efficiency units.

    Indianapolis Power and Light offers programs designed to help you save money on your electric bills:

    Cool Cents Program: Allows homeowners to recycle their air during the summer months and receive a rebate on their electric bill.

    Perfect Cents Program: Upgrade your current heating and cooling system to a high efficiency system and receive a rebate.

    Green Option: Help the environment and enroll in the Green Power Option. This allows current customers of Indianapolis Power and Light to use clean renewable sources of energy.

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    Authored by Chris | Discussion: 2 Comments »

    Indy Real Estate News Flash - Buyers Control the Market!

    August 11th, 2007 categories: Indianapolis Real Estate News, Indy Home Buyers

    Real Estate NewsNational news reads the real estate market is now controlled by buyers throughout much of the country. As news goes, it is generally one-sided and often distorted, with a predetermined conclusion to coincide with the story line.

    Since this is my news page, I get to write what I want with the conclusion I want. No distortion! The news, as I see it, is the real estate market is controlled by buyers. The truth is, it always has been.

    Even in the midst of the strong seller’s market of recent years, buyer’s still had the final say about how much they were willing to pay for a property. They also had the final decision about the terms of the contract they submitted and agreed to. The seller could accept or reject the offer.

    While there was less negotiating room, the buyer still made the decision.

    Today, the buyer is negotiating from a position of strength. Some believe this indicates they can offer almost anything and the seller is at their mercy.

    Lately, I have heard, more than once, “the buyer should always offer and expect to buy at least 10% less than a home is listed for”. I’m not sure who is perpetuating this rumor or news. While there are many good deals around, a buyer can not expect to apply this principle to every home on the market. The seller still has the right to accept or reject any offer.

    There are many homes, when priced right, which are selling at full price. The averages in our area indicate homes are selling for 96–98% of listed price, depending on the area. Granted, there are some which are overpriced and will never be sold, even at 10% less than listed price.

    While buyers control the market, purely by fact they are the ones bringing the money to the table, the last time I researched, sellers were not giving away homes. At least they aren’t here in Indianapolis.

    For the record, I represent both buyers and sellers in the Greater Indianapolis area. This is an unbiased report as I see both sides of the transaction from the viewpoint of my clients.

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