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Total Properties Listed: 13,330
Month / Month Chng: 8.84%
Avg Days on Market: 86
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Median List Price: $279,900
Month / Month Chng: 2.15%

Selling your Home

Welcome to the New Real Estate World

     Welcome to 2021 Real Estate.  The fact that there is little inventory makes this a Seller's Market, however, this does not make it impossible to purchase a home at a respectable price.  In my personal experience, homeowners are having offers made on their listing within 48 hours of being on the market if the listing price can be justified.  The competition for the buyer is to have a line of credit or cash reserve to overbid on the home to be competitive with the rental companies purchasing everything with no appraisal, cash, and minimal inspection of only major defects.  I recently had a closing that had my buyers confused.  I will not name the company but the buyer's agent was here in Indiana, the title Company in Atlanta, GA, and the company that purchased the property was in Delaware.  A notary came to my office to have the sellers sign the documents, on day two the documents were sent to the title company and then onto the buyer, and then funding was 48 hours after the closing.  The sellers had to sign several documents in advance with the out-of-state title company which made my clients very uncomfortable.  This could possibly be the "new" closing process so we all need to be prepared and to inform our clients in advance.  Personally, I still love the local closing companies where we all sit down and sign the documents, congratulate each other, and then give over the keys so I too may need to update my thoughts.

     Back to my point, listing your home.  Sellers are hearing wonderful stories about offers thousands of dollars over the assumed value.  I advise any agents to first do a comparative market analysis on a home before listing so if the value comes in lower than the offering price, the appraisal may be challenged or the buyer can bring the additional cash to close.  Some agents are purchasing using the escalated value where the buyer will pay a certain amount over the appraised value.

     This is an interesting time to be a Broker.  I will give this article some more thought later, right now I need to get back to doing a comparative market analysis on two new listings.  Have a blessed day:)


Best Time to List a Home

April 15th through August 15th in my personal opinion, may be the best time of the year to sell a home for it's top price.  April 18th is the deadline to file your taxes.  Some people may get a tax refund that would assist with a down payment on the purchase of a home or as an investment down payment if purchasing on contract.  Even though Indiana has a "year round" school system, people are still drawn to the idea that summer time is an easier time to move the family even if it is to another school district.  No matter the time of year, spring, summer, fall or winter, the staff at Star Harbor Realty, LLC is ready to list your home for you at the highest price we feel we can sell the home for you.  Star Harbor Realty, LLC is ready to assist you with your Buying, Selling, and Investment needs.  Kim Stewart, Managing Broker, Bryan Dirk Anderson, Broker, and Gretchen McHugh, Referral Agent, are here to take your call, identify your need, and then list your home for the top price.  Call us today, 317-292-9492 or e-mail us at starharbor@comcast.net to explore you Real Estate options. 


March is the Month to List Your Home

     Star Harbor Realty is ready to list your home.  March is a great month to put your home on the market.  People concerned with moving their children during the school year, often start looking in the month of March.  The weather may start to give people a little break and folks have cabin fever.  They have been in their home all winter discussing issues with their present home and are ready to move.  Buyers may make an offer on your home contingent of selling ther present residence but that can work to your advantage with a First Right of Refusal.  This way you can continue to market your home and if another buyer makes an offer, your client with the First Right of Refrusal has the option to continue the purchase or let party #2 step in and negotiate the deal.  Now in the situation of my son, he and his girlfriend volunteer rescue pets.  They have been in an apartment all winter because they are in college.  It has come to their attention that an apartment in the Midwest is no place for pets so now I am looking for them a home with a fenced in backyard close to campus.  My son is probably not the only person with a pet that has decided the winter has been tough and they need a home with a backyard for Fido to play in rather than out walking the fuzzy baby four time a day.  This becomes another feeder market and is another reason to list your home in March.  It can take up to 90 days to close on a home.  The exit time from the apartment to the home will be in June.  You have given the apartment complex a 90 day notice of moving, had time to tidy the apartment and hopefully get your security deposit back, which could go toward new paint for your home or a down payment on the fence you need in the back yard for Fido.




118 S. 11th AVE, BEECH GROVE

     Please join us Sunday from 1:00 PM until 3:00 PM for an Open House.  This amazing Beech Grove home has 3 bedrooms with a 4th room being utilized as an additional bedroom.  Stainless Kitchen Appliances stay with the home as well as an oversized washer and dryer.  Home highlights outdoor entertainment with a Hot Tub that will stay with the home.  The Hot Tub motor and jets were replaced 2014 and in wonderful working order.  The Kitchen has Hand Made Hickory Caminets by Robert Mueller along with Stained Glass Kitchen Window.  Tile Floors/Carpet replaced in 2012 by Carver Construction as well as a completely remodeled basement in 2008, again by Carver Construction.  Water Heater was replaced in 2009.  This home has too many upgrades to mention.  Come by our Open House on Sunday, July 27th and see for yourself.  

     Have a home you need to list?  Call Kim Stewart, Managing Broker for Star Harbor Realty, LLC at (317) 292-9492.  At Star Harbor Realty, LLC, we list homes, help you invest in Real Estate and will attend auctions for you.

     118 S. 11th Avenue in Beech Grove can be viewed on this web site or go to MIBOR and view Listing #21302189.  Hope to see you Sunday1


Sellers Benefit to using a REALTOR

Seller Benefits of using a REALTOR:  Key factor to selling your property is being informed of the comparative market analysis, terms and conditions of the sale, financing accepted and listed price of the property.  Anything will sell if it is priced right!

Over 50% of Real Estate sales use the assistance of a cooperative broker.  The listing REALTOR will pay other REALTORS what is known as a buyer’s agent commission which is a percentage of their agreed listed commission. On the BLC (MLS) this in noted in the BAC section.

Now getting back to why you need a REALTOR to help sell your home. Your REALTOR will suggest to you repairs that will enhance the salability of the real estate.  Being the marketing coordinator for the sale of your real estate may come through the BLC (MLS), flyers, open house, e-flyers, or other marketing networks that Real Estate Agents have shown to work to present your property in the brightest light possible. 

82% of Real Estate sales is generated through previous contacts your agent has had with clients, other referrals, friends, family, personal contacts and business contacts.  I personally will contact lenders that I have come in contact with, give them the property information and ask if they have any client’s that are pre-approved for a loan and looking in this area of the listing or for the style of home that is listed?  You need to be creative with your contacts and utilize every source you have.

Security is a huge concern when you list a home.  How many times do we hear of people gong into a home during a for sale by owner showing and have some item come up missing.  When you list with a REALTOR, the home will never be looked at unless the listing broker or the possible selling broker is in the home with the clients.  Card Lock Box is used to store the key to the home and a special card is used to open the box.  The REALTOR will take responsibility to make sure the home is secured as soon as the clients leave the home.

A REALTOR will assist in negotiations to get the most value possible out of the home as well as negotiating inspections, financing requirements and issues that may arise from the appraisal.  This is what REALTORS do, they negotiate for their customers and they do it a lot.  The REALTORS eyes are trained to look for specific statement in the purchase agreement and are there to educate you along the way on the sale of  your home.

There are a number of factors that take place from the time of listing your home to the official closing.  As questions come up, your realtor can help.  You may not have had a title search done in a long time and low and behold, when the title  search is ran, the title company finds clouds or liens on the title work.  You can not pass clear title until all liens, judgments, and clouds are cleared.  This process can take an amazing amount of time and you may not know how to get in touch with everyone or what to do.  Your REALTOR will assist with helping you clear the title.  Now you can sell your home and pass clear title to the new owners.

To give you a complete breakdown of the process, I will start with you contacting a REALTOR or a Real Estate Company like Star Harbor Realty.  We will come to your home, walk through the home, make a list of what we think could help you sell your home, even if it is to de-clutter.  We will take measurements of the rooms and then talk to you about your ideas for selling the home.  The price you have in mind and what time frame you would like to be able to sell the home in.  We will leave you with a copy of the listing contract to read over as well as a Sellers Real Estate Sales Disclosure to fill out about the condition of the home.  We will take this information back to the office with us, do a comparative market analysis, compare tax records and then return to see you, share our information and then hopefully agree on Star Harbor Realty listing your property to sell.  If the contract is agreed upon, we will take pictures of the home and put it on the BLC (MLS) along with the other information we may have to trigger interest from the public.  We will schedule an open house and from this point forward, market your home aggressively.  When we receive a Purchase Agreement from a client, we will meet with you to discuss the pros and cons of the offer.  After tight negotiations, will keep close contact with the buyer to make sure they are not running in to any problems.  We will keep you informed of appraisals, inspections, additional walk through, etc  You will be walked to the closing table with peace of mind that your REALTOR got you the best deal they could get!. 


Short Sale Information

A SHORT SALE is not so short even though as of June 15, 2012 Fannie Mae and Freddie Mac implemented new guidelines to assist the process.  These changes require mortgage services to make the short sale acceptance decision within 30 days of receiving a short sale offer.  Pre-approval short sales will also have the same timeframe.  There may be times when the lender needs more time to make the decision.  Remember that you may have one short sale for an answer but the lender will probably have several deals on their computer and/or desk.  If in the event that the short sale answer needs extended, the lender must give the borrower or borrower’s representative weekly status updates but the decision must be made within 60 days of the initial short sale application.  The lender may have needed the extension of time to do a price opinion on the home or to get the approval of the mortgage insurer.

SHORT SALES are more complex than the routine home sales.  There may be a couple lenders involved in a first, second and possible third mortgage plus the distance from each other so negotiations are done online, by phone, via fax, in person and possible all of the previous. 

Someone may question the reason behind the SHORT SALE but other see this as a better alternative than foreclosure.  In a SHORT SALE, fees are smaller, the property transfers ownership at a faster pace and you also eliminate all the problems that come with a home left vacant after foreclosure.  

If a homeowner is considering a SHORT SALE, you may want to consult with a REALTOR to assist with marketing the home and bank negotiations.  The components of an effective SHORT SALE package include from the seller, (1) a hardship letter informing the lender of the problems that arose to cause the loss of income.  This can be several reasons but the ones I have seen most as a Broker for Star Harbor Realty are divorce, medical bills, and/or loss of income or job.  (2) A completed financial form of your credit/debt ratio. (3) Completed Form 4506-T (Request for tax transcriptions).  (4) Copies of your last 2 months bank statements for all accounts.  (5) Copies of most recent pay check stubs for one month of all mortgagors or verification of Un-Employment, Disability, Pension, Social Security income.  (6) Copies of signed complete Federal Income Tax returns for the last two years, including all schedules. (7) Authorization signed for all third parties listed on the Note, for your account to be discussed with your REALTOR, attorney, relative, spouse, etc.  (8) A copy of the Real Estate Listing and the BLC (MLS) print out.  (9) Copy of a ratified sales contract upon receipt-subject to investor and/or Mortgage Insurance approval.  (10) A net proceeds sheet which has been prepared by your agent, a title company, or attorney.

Please be aware that the collection and foreclosure process will continue uninterrupted unless your lender decides to stop the process while you are working on the short sale.  Otherwise, your timely response is essential and you will need to be aware of the additional requests the lender may need to make the final decision.  Again, Collection and Foreclosure procedures will continue until a written agreement is signed.


Tips to Save Energy and Add Value

When it comes to energy efficiency, look for smart features and expertise to help you save energy and money and add value to your home.

1. Begin with a Right-Sized Home.

If the home you buy is simply too large for you or your family’s needs or plans, you stand a good chance of wasting energy through excessive heating and cooling costs. If it’s too small, you’ll feel cramped and uncomfortable. It’s a big investment, so seek balance and buy it “right” from the outset. 

2. Purchase Energy Star Appliances Such as Your TV, Dishwasher, Washer and Dryer, and Microwave.

And especially the refrigerator, as it alone contributes about 10 percent of the energy use in a home. Also, unplug electronics not in use or turn off power strips to avoid phantom charges. 

3. Install Efficient Lighting Such as Compact Flourescent (CLF) or LED Bulbs in Every Fixture.

Lighting accounts for about 6 percent of an energy bill each year.

4. Get an Energy Audit and Have Tests Performed to Identify Ways of Improving Your Efficiency.

You can always upgrade your heating, ventilation, and air conditioning (HVAC) system as well as your  thermal envelope, which includes insulation, windows, and doors  and the seals or weather stripping around them. Visit energy.gov/energytips for more tips.