2021 Real Estate Myth Buster

Some Highlights

  • There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.
  • Here’s a little clarity when it comes to 5 common myths about the 2021 housing market.
  • Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market.

Shawna O’Brien
shawna.obrien@talktotucker.com
317-506-0039
F.C. Tucker Geist Fishers

Make a “Great Things” List

What’s great about your home? Is it the spacious foyer and generous main floor closet space? Is it the beautiful washroom? Is it the playground that is only a short walking distance away?

Although some properties may look similar at first glance, every home is unique – with features and characteristics that make it special. If you’re considering putting your home on the market, make a list of all the great things about your property that potential buyers will want to know.

Start by thinking about the most desirable features of your home. Write down what you really love about the house and the surrounding area.

Next, think about what comments friends and other visitors to your home have made. Have you ever heard anyone say something like, “I really love your kitchen!” or, “This is such a quiet street”? Those are indications that potential buyers will like those features and characteristics too.

Once you have your list, let’s talk. Together, we’ll review all the great things about your home and area, and decide how to market them effectively.

Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039

Perform a Home Self Inspection

The home inspector’s job is to provide a report on the condition of your home in a variety of categories that impact the safety and habitability of your home. He/She will report on weaknesses and trouble spots that could turn into big issues for the new homeowner in the future.

Be a prepared seller prior to the home inspection by looking at all areas of your home from top to bottom with a critical eye.

Roof: Pay attention to soffits, fascia and shingles. Look for wear and tear, hail damage, nail pops, mold and rot

Gutters & Downspouts: Ensure they are attached securely, not pulling away, and properly draining water away from the home.

Attic: Secure insulation and replace areas if needed. Ensure the attic is properly ventilated and look for gaps, rot, mold and decay.

Walls & Ceilings: Look for discolored spots on walls, ceilings and in corners which would indicate water leaks and possibly mold.

Basement: Look for cracks in foundation and condensation in the corners, along the wall. Test your sump-pump and consider a back up battery.

HVAC: Check the serial number on your unit to find out how old it is and have it serviced by a professional prior to inspection. Older systems are less efficient and prone to breakdown so be prepared to fix, replace or provide a home warranty to the Buyer if the inspector indicates it’s toward the end of it’s life expectancy (usually 15-20 years).

Windows & Doors: Open and close each door and window to check that they open and close easily. Frames should be smooth and intact, with no airflow, and all wood trim should be in good condition with no wood rot.

Plumbing: Check that fixtures are secure and no loose toilets. Look under your cabinets and around your water heater for water stains, leaks, mildew and mold.

Structure: Walk your home like you are looking and listening for the first time. Are there creeks in the flooring or on stairs? Are handrails secure?

Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039

What to Do When Closing Dates Don’t Match

If you want to sell your current property and purchase your next dream home, you might be wondering whether the closing dates need to be on the same day. 

You might even be worried that you’ll lose a property if the closing dates overlap, or you’ll be put out on the street if the dates are far apart!

For the most part, these concerns are unfounded. Thousands of properties change hands every day and usually everything works out just fine. In fact, it’s amazing how often closing dates actually do match!

But, what happens if the closing date of the home you want to buy is days or weeks earlier than the closing date of your own property?

Most lenders anticipate this situation and offer something called “Bridge Financing.” It is a special loan that allows you to purchase the property with the earlier closing date. When your current property closes, the bridge financing ends and your new mortgage – if you need one – begins on the new home.

Alternatively, if the home you want has a later closing date, we will work together to explore options.

Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039

4 Good Reasons to Consider Selling Your Home

Why do people decide to move? 

Unless it’s a requirement, such as a job relocation, the research tells us that you, like many homeowners, may decide to sell at some point for one or more of the following reasons:

  • Your home is no longer a good fit. You may have outgrown your current home and need something bigger, maybe with an additional bedroom. Or, the opposite may be true. You may want to downsize into something smaller – and cash in some of the home equity you’ve built up.
  • You’ve got your eye on a different neighborhood. Have you ever driven through an area and thought, “I’d love to live here”? You may think that it’s out-of-reach for you at this time. Is it? You never know until you work the numbers. You might, in fact, qualify for a home in that neighborhood today!
  • You want to be closer to something. Many homeowners would love to live closer to work, family, favorite hobbies, the country, etc. Moving to a home that’s near to one of those “somethings” can have a positive impact on your lifestyle.
  • It’s time for a change. Sometimes a homeowner just wants a change: new surroundings, a fresh start. Who says you need a “practical” reason to sell? If you’re looking to get into a new home just because you feel like it, that’s your choice. In fact, that may be the best reason of all to sell. You may simply want to move.

Do any of these reasons resonate for you? If so, now is the time to start preparing. Even if you don’t anticipate moving for several months, this is the best time to get the process started.

Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039

Avoiding the #1 Cause of Seller Stress

Do you know what causes the most common source of stress when selling your home? Is it scheduling buyer viewings? Is it the length of time it takes for your property to sell? Is it an offer that falls through?

Those things can, indeed, cause some worry! But, the number one source of stress is actually simple to avoid. It’s not understanding the process. 

Even if you’re no stranger to moving, you should review the process involved in selling your current home before you list it. If you don’t, you might end up exposing yourself to anxiety that could have been easily avoided.

Say, for example, you’re concerned that your home has been listed for too long. It’s been a week and no good offers have come in. Well, if you knew, in advance, how long a home like yours typically takes to sell, then you probably would know not to worry.

It’s important that you start the process by understanding what to expect. What happens when your home is first listed? How are buyers scheduled to see your property? What happens when an offer comes in?

That’s why we will always review the selling process before you list and make sure all your questions are answered.

Shawna O’Brien
F.C. Tucker Geist Fishers
shawna.obrien@talktotucker.com
317-506-0039

When it Comes to Offers, it’s Not Always about Price

When considering which of two or more competing offers to accept for your home, there is no doubt price will play a huge role. After all, if Offer #1 is $10,000 higher than Offer #2, that’s an enticing difference that puts thousands of extra dollars in your pocket.

However, price isn’t the only thing you should think about when comparing multiple offers. There are other factors you need to consider too.

For example, you’ll need to think about the impact of any conditions that are in the offer. If Offer #1 is conditional on the buyer selling their current property, then what happens if they don’t? You could end up with an offer that dies and be forced to list your home all over again.

In that circumstance, accepting the lower offer may be your best move.

There’s also financing to consider. Most sellers will attach a certificate from their mortgage lender to show that they can afford the home and will likely secure financing with little difficulty. If you get an offer where the ability of the seller to get financing is in doubt, that’s a red flag.

The closing date is another important factor. Offer #2 might propose a closing date that’s perfect for you, while Offer #1 is four weeks later. If you’ve already purchased another home, you might require a month of bridge financing if you accept Offer #1. There’s nothing wrong with that per se, but the costs and additional hassle are factors you should consider.

As you can see, assessing competing offers isn’t as easy as it looks.

Shawna O’Brien
shawna.obrien@talktotucker.com
F.C. Tucker Geist Fishers
The Tumbarello Group

Want to Sell Your House Faster? Make it Anonymous

What do you notice when you visit a model home in a new development? Often, you will find wonderfully furnished and decorated rooms that anyone could live in.

The operative word here is “anyone”.

Sure, there might be a computer screen on a desk in the den, or a child’s doll sitting in a corner, but for the most part, all the rooms are anonymous. There is a sense of family, but no specific family… the feeling of personality, but no specific person.

The professionals who set up a model home make it anonymous for a reason. They want buyers to view it as their potential home, not someone else’s. These professionals know – based on decades of experience – that this strategy helps sell houses faster and for a better price.

Why not use this same strategy when showing your home?

It’s easy. Just put away that soccer trophy, take down the wedding photo, and box those souvenirs from the family vacation at Disneyland. No, you don’t have to completely empty your closets and drawers. Just pack those personal items that can be seen when a potential buyer views a room. Put away toothbrushes, collectibles, even unopened mail. Don’t forget to clear the fridge door, which is often a mosaic of personal items in family homes.

If you have lots of personal items, consider renting a storage unit for the few weeks that your house will be on the market. It’s worth the investment.

You wouldn’t think of buying a birthday cake with a stranger’s name on it. Keep that in mind when you show your home. Make it anonymous!

Need more ideas for selling your house faster and for the best price possible? Call today.

Shawna O’Brien
shawna.obrien@talktotucker.com
F.C. Tucker Geist Fishers
The Tumbarello Group