2007 December | Indy Real Estate Talk

Really Simple Syndicate Ask the Agent Ask the Lender

PAULA HENRY
REALTOR ®
RE/MAX Excel
Office: 317-272-5002
Direct: 317-605-4174
Fax: 866-373-5769

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Archive for December, 2007

Preperation is Key When Buying a Home

December 24th, 2007 categories: Indianapolis Real Estate News, Indy Home Buyers

Buying an Indianapolis Home When you’re serious about buying a home and getting the best deal you can, these few simple steps can ensure you are prepared.

Step #1 – Don’t get pre-qualified! A pre-qualification letter merely means you have spoken to the lender or a loan officer and based on what you tell them, they say you are qualified. They may have run a credit report, but they haven’t actually verified your funds, employment or taken into consideration any problems which may show up.

I recommend my clients get pre-approved. A pre-approval means everything has been verified, your funds have been in the bank long enough, there’s no judgments against you which shouldn’t be there. I have seen this happen more than once.

A pre-approval can take up to a few weeks and essentially means you are approved for the loan, subject to the appraisal. Having pre-approval strengthens your negotiating position.

Step #2 – Sell First, Then Buy – When you buy a home before you sell your existing home, you literally put yourself at a disadvantage on both sides. Once you sign a contract to purchase based on the sell of your current home, you have lost negotiating power. You will usually pay more for the home you plan to buy and generally lose money on the home you are selling.

Step #3 – Make a list and check it twice. Make a list of things you must have in your home and items you absolutely don’t want. This makes narrowing down the choices easier. Once you and your agent have a list of homes to see, have your checklist ready. Steps to Buying a Home

The checklist helps analyze each home on the basis of what you want in a home and not be persuaded by the current owners decorating taste or the fact they have a beautiful deck with a spa. If there’s not enough of the must haves to go with the spa, you may want to keep on looking.

Step #4 – Do your due diligence. Along the lines of making a list, you will also want to take into consideration your lifestyle. Do you have children? Are schools important? How close do you want to be to shopping, parks, the golf course? What’s a comfortable commute to work? Check out neighborhoods, drive around at different times of day and on weekends. Can you hear trains or planes? Is there a lot of traffic? Call the police for crime statistics.

Once you have found the perfect home in the perfect area, you should be just as disciplined in narrowing down a fair market value offer. Your real estate agent can assist you in a big way here. They know the comparable sales and can find information about those sales which impact the true sales price. They know how to adjust for amenities, square footage, seller concessions, etc.

Step #5 – Don’t use multiple agents. I know this sounds a bit self serving. Having one agent who works diligently for you gives you the opportunity to find the best deals on the market. Many new homes come on the market and are sold almost immediately for one reason. Someone had an agent who was watching out for them and what they want. By the time you find it driving through a neighborhood or perusing the internet, the home is gone.

Find an agent who you are mutually commited to, who knows what you want and you will increase your odds of finding the perfect home for you.

Tags: Buying+a+home, Indianapolis+Realtor, real+estate

Authored by Paula | Discussion: 5 Comments »

Get Out of Debt

December 20th, 2007 categories: Random Thoughts, Real Estate Financing

Thanks to my friend, Matt Thomson at Gig Harbor Undressed. He shared this video with timeless advice for getting out of debt and staying out of debt. I had to pass it on……

So easy, yet not so easily practiced!

Tags: Debt, Finance

Authored by Paula | Discussion: 3 Comments »

Cord Camera Shop in Plainfield

December 20th, 2007 categories: Plainfield Real Estate

Cord Camera in Plainfield

After recently purchasing a new camera, I lost the lens cover. A scratched lens does not a pretty picture make, so I headed to a local camera shop to see if I could find a replacement. I did find a replacement and also found the manager, Bill, to be most helpful.

My new camera is foreign to me and taking great pictures in different lighting has been an education. Bill recommended a few items for my camera, one was a protective cover for my lens which helps reduce glare and at the same time, acts to protects the lens.

While, I have had great success with indoor pictures of my clients homes and landscape pictures, night photography has been a challenge, so I bought a tripod and he suggested I use my remote.

I am still learning about photography, as well as my new camera, so Bill suggested a book which covers everything about my camera in plain english. No technical babble! It’s like the camera book for dummies. Now, that is not the name of the book, but it is essentially the same thing and all about my particular camera. They also have videos, in addition to books on many different cameras.

If you need a little help and expert advice about cameras, check out Cord Camera in Plainfield. It’s across US 40 from Metropolis Mall.

Tags: Plainfield+Indiana, Pictures, Homes, Photography

Authored by Paula | Discussion: No Comments »

Boone County Wins the Draw!

December 19th, 2007 categories: Eagle Creek Real Estate, Indianapolis Real Estate News, Zionsville Real Estate

Construction Anson Indiana I’m sure it wasn’t actually a draw, still, the outcome of Medco’s decision to build it’s pharmaceutical distribution center in Boone County is a big win for both Boone County and the Indianapolis area. Medco will make it’s new home in AllPoints at Anson. The creation of employment in Anson fits right in with the original plans of the developers.

Anson consists of over 1700 acres, about 20 miles northwest of Indianapolis. This master planned community combines residential, business, greenways, parks and schools for the optimal lifestyle; a place where you could work, live, play and shop, all within minutes of each other.

The Anson project has taken awhile to get off the ground. While it seemed to be stalled, work there has been continous. Recently, anchor tenants backed out, KB Homes left the Indianapolis area and pulled out of Anson. Now, Meijer has been named an anchor tenant and Lowes will begin construction early next year. Developers are looking at local builders for residential development.

I personally love this area of Indiana. Located just north of Eagle Creek, northwest of Traders Point and west of Zionsville, Anson is ripe for growth in the next few years. Eventually, there will be over 600 homes built in Anson. I believe this is just the beginning of huge growth in Northwest Indianapolis. I hope it includes a mall somewhere in the future