Mar 022017
 

USDA
Many of our listings qualify for the USDA no money down program. This program is for rural homes such as ares in the western areas of Hendricks County and beyond such as Danville & North Salem. Check here to see if this is an option for you.

Next Home
Another option for you might be the ‘Next Home’ program. Indiana Housing & Community Development Authority has a program to use and supplement other offerings for home buyers who need some help to purchase a home. They provide a brochure on their web site detailing many of the options here: Homeownership Brochure.

The lenders who are participating in the program are listed here: Current Lenders.

Call The Derrick Team at 317-563-1110 to start your search for a new home. Don’t forget, we can help you with your home purchase and our services are paid by the seller, not you. So let’s start looking!

A few of the lenders we’ve worked with that offer this & USDA (link takes you to their site for details):

Mark Wicks at First Merchants Bank – (317) 840-8200
Reggie Galvin at American Mortgage – (317)-272-0074
JP Brens at Caliber Mortgage – (317) 550-2116


Also included these handy links if the above links do not work.

Website link: http://www.in.gov/ihcda/2507.htm

Income Limits: http://www.in.gov/ihcda/files/2011-12_Income_limits_FOR_LENDERS.pdf

Participating lenders: https://ihcdaonline.com/AuthorityOnline/participatinglenders/participatinglenders.aspx

Brochure: http://www.in.gov/ihcda/files/IHCDA-OpportunitiesForHomeownership-032410.pdf

 

 

Feb 122016
 

A well planned garage sale can put some $$$ in your pocket!

Garage sale todayIf you are planning to move, or just need to make some space, a garage sale (sometimes called a yard sale), is a great way to get rid of unwanted or unused items and pocket a little cash. Here are some general ideas that can help you clean up and get a reward.

Plan

  • It’s not a good idea to have sales on holiday weekends as most people already have other plans.
  • Look for community sales you can join or invite neighbors to join as you have more stuff and can split the advertising costs. More stuff increases a shoppers chance of finding something they like.
  • Check with your Homeowners Association and/or with local ordinances as sometimes a permit or registration is required. Some HOA’s only allow them during ‘community sales’.

Advertise

  • Run an ad in the newspaper and/or post an ad for free on Craigslist, Facebook groups, or other local Internet sites.
  • For larger sales passing out local flyers or posting on local store bulletin boards can draw traffic as well.
  • Put signs out the day before (check local ordnances) and check to make sure they are there the day of the sale. Most of the Indy area has 24 hour rules.
  • Remember, attaching signs to public signs and utility poles is a no-no, they must be free standing.
  • Good signs make a difference as most people are drive bys so make sure they are sturdy and easy to read from the road.
  • If it’s windy or you had a storm overnight go check them right before the sale is going to start. Consider using boxes with weights in them. And make sure and go pick them up after the sale.

Before the Sale Preparations

  • Supply plastic bags or boxes for multiple items. Keep old newspaper handy to wrap up fragile items.
  • Put dogs away as some people are scared or allergic of them.
  • Have a small calculator handy, buyers might otherwise question your addition.
  • Make sure you have room for parking safely on the street or yard area.
  • Place an ‘All Sales Final’ sign to make sure you don’t get people coming back the next day.
  • Have plenty of change at the start, at least $50 in small bills and coins. More if you have a lot of low priced items.
  • Don’t take checks from strangers as you have no way to get your money if the check is not legit.
  • Keep the money on you, not in a cash box as a tempting target. Carpenter aprons are a handy item to keep your money on you.
  • Price everything or at least group them on a table with a sign that says ‘All Items on this Table $5’. Price items in good shape for about a 3rd of what they are new. Make it easy on yourself and price them in even amounts like 50 cents, $1, $5, etc.
  • Provide electric power to test plug in items and batteries in battery operated items.
  • Have some soft music playing so people don’t have to whisper if they are talking about an items price.
  • Provide cold drinks (you can make a little money there) and even snacks as that can help keep people browsing.
  • Make sure all items are clean and neatly arraigned and during lulls in activity be sure and straighten the displayed items.

For the Sale

  • Expect early birds for the ‘professional’ yard sale shoppers looking for the under priced item they know are worth more and they can make a tidy profit from (if you want to discourage them put in the ads ‘Early Bird Pays Double’).
  • Put man items (tools, electronics, sports items, etc) and high dollar items by the street so the woman can get the man to stop.
  • Put broken or items with little value by the street with a sign ‘Free Pile’. This gets people to stop as well.
  • Don’t expect much for clothes, only baby items generally will sell at all. Use cheap hangers for hanging items (like from the dry cleaners) as buyers will probably take the hanger with the item.
  • Be sure and check the pockets as you might sell a shirt for $1 that has a $10 bill in it! As items sell, spread items out to fill in and make it look like you have plenty of items left to sell.
  • Be ready to haggle as everyone is looking for a bargain at yard sales.
  • Towards the end start dropping prices. This is where the price per table is handy. Just start moving everything to the cheap table. You can also box similar items (like toys, games, books, etc) and put a price on everything in the box.

After the Sale

  • Determine what items you want to keep for a possible future sale and box them up.
  • The rest can be donated to Goodwill, The Salvation Army, your favorite charity, or the trash man.
  • Don’t forget to go pick up the signs! Then sit back and count the money!
  • And if this is in preparation of moving, call The Derrick Team and we can help you with the next step, staging your home to sell and of course helping you market your home to buyers!

Call or text The Derrick Team at 317-563-1110. We work 7 days a week!

Download our free Garage Sale Tips Booklet here

Jan 282016
 

Carpenter announced at our 2016 rally that this new product will be available soon for our listings. It’s really cool and The Derrick Team plans and using it. It’s basically ‘Google Streetview’ for homes as it works the same way. Check out this demo of a Colorado Ski Lodge. Depending on your Internet speed it may take a minute to load.
Call us today at 317-563-1110 for more details on this and other tools The Derrick Team uses to sell your home.

Jan 212016
 

 

We helped a buyer with this home sold as a short sale. They got a deal on 24 acres and this home.

We helped a buyer with this home sold as a short sale. They got a deal on 24 acres and this home.

What Is A Short Sale? You’ve probably heard the term, especially if you are looking in the home buyers market, of a home that is listed as a ‘short sale’. It sometimes can be described as a ‘pre-foreclosure’ as well, but basically it means the same thing as while a home is listed as a short sale the foreclosure process is continuing to be executed by the lender.

A few years ago this wasn’t something you saw on the market, but times have changed and as we all know things have been hard for a lot of people who own homes. So the banks (strongly encouraged by the federal government with HAFA) have worked on options for people who owe more on their home than it can sell for (short of the current amount of the mortgage). So a home that is listed as a short sale or possible short sale is usually a homeowner who cannot afford the home but is trying to avoid foreclosure.

Each bank has their own approach for short sales so this is just a general description of what to consider when shopping for homes. This information is mostly from our own experience in the short sales we’ve worked with so your own experience will vary, based on the lender involved and the agent’s due diligence.

First off, short sales usually take a long time (despite the common name). This is because all offers must be approved by the lender, and more commonly the investor who holds the note for the loan and signed off by many different people. Some banks are better than others at working with the seller and their agent. If the approval is still in process, it’s going to be a bit longer of a wait.

TIP: When considering making an offer on a short sale, find out if the hardship package has been submitted and approved. That can speed up the process of the lender approval of your offer.

In most cases you’ll find these homes are being sold ‘As Is’ so you are looking at a probable ‘fixer upper’. But depending on how long the home has been on the market, the general condition of the property, and the area sales numbers, you might find a really great deal on a nice home because the lender is more willing to accept lower offers at that point. The number one thing to have if you decide to make an offer on a short sale is; patience. So what we find is most often buyers that are ready to move right now will find a short sale will not work due to time constraints. In the end most short sales are sold to investors with cash offers.

But if you have the time, or are looking for investment property, a short sale can be worth considering. Just understand that there are often delays that can take up to 6 months or more to get a deal closed. And it’s not unheard of for a lender to change their mind and end up rejecting an offer they accepted a few weeks earlier. So be ready for anything if you decide to make an offer on a short sale. But you just might be rewarded with a really good deal.

Questions on a particular short sale home in the Indy West Metro Area? Give us a call at 317-563-1110 or use our handy Contact Form. We can help guide you through this maze and see if you think this is worth a try for you. Just be ready to hurry up and wait.

Nov 132015
 

When you go to sell your home, this phrase is a good summary to set the stage on today’s market so I’ll define it here in a little more detail.

Price War
This is pretty self-explanatory but holds even more weight today. When we do a Comparative Market Analysis of a home we tell the seller the low range of prices is what you have to be at to win the Price War. Not usually a thing easy for them to accept, but to sell quickly you have to be the best deal around. The good news is that home values are creeping back up. But sellers who insist they want top dollar often will find their neighbors are selling much quicker because their high price makes the neighbors home look like a better deal. In other words you want a neighbor who lists at a higher price so you can easily win the Price War.

Beauty Contest
Now we move into the subject that not everyone understands. Today’s buyers are much more demanding on what they want their home to look like. It used to be “Move in ready” if the home had fresh paint, clean carpet and/or great flooring. Now we have to deal with the HGTV syndrome. Buyers want updates, whatever is the trend at that moment. Nickel finish fixtures, stainless steel appliances, hardwood floors, it’s a long list that comes from home improvement shows on HGTV and home centers playing along by pushing these items in ads. We like to refer to this look as being the ‘Shiny Penny’ that catches the buyers attention. While some buyers know to look beyond these items and think bigger such as home location, floor plan, local area, etc, the eye candy listed above from the HGTV syndrome is what impresses most. So in todays market it not just neat and clean to win the Beauty Contest, its show me the wow factor when I look at your home.

So if you cannot win the Beauty Contest, you’d better win the Price War. If you’re not in a position to win with the Price War, you’d better be first prize in the Beauty Contest. If you want to sell your home really fast, be ready to win both!

Want to know where you stand? Give us a call or text at 317-563-1110 or shoot us an email and we’ll do a free CMA and tour your home to give you ideas on what’s worth updating to win both contests.

Jul 082015
 

Hendricks County May 2015 Report from IARWell let me tell you.

While spring is the traditional busy season the weather has turned warm during this unusually wet start to summer and the real estate market barely slowed down. Normally we’ve seen summer slowdowns after schools let out and families go on vacation. But this year while not as crazy as this past spring we’ve been busy selling houses on into July, the time of year I usually plan projects around the house.

The biggest problem we’ve been having and other realtors concur, we cannot get enough regular listings ($100-$250K single family homes). That particular part of the market is the hottest and homes sell quickly in that range.

Reading reports (links below) will confirm what we’ve seen but in general I think a lot has to do with the continuing lower interest rates that we thought would be climbing higher by now. When the Feds continue to say they will start raising them soon that adds to the urgency. So for now its go, go, go.

If you are even slightly thinking of selling, give us a call and we can help you decide if now is the right time for you to sell. Call The Derrick Team today at 317-563-1110!

Check out the general realtor sentiment with this site: http://www.stats.indiana.edu/housing/RealtorSentiment.asp

Great site for looking at your county sales info from the Indiana Association of Realtors: http://www.indianarealtors.com/Research/Indiana-Real-Estate-Markets-Report.aspx

Hendricks County May 2015 Report from IAR

Hendricks County May 2015 Report from IAR

Jun 152015
 
A Shiny Kitchen

A Shiny Kitchen

There are many different reasons buyers are out looking at homes. Normally when working with a buyer an agent tries to determine a buyer’s motivation before they start showing them homes. But some agents will just about show houses to anybody who asks (eventually they realize their wasting time, but that’s another blog post). For the most part the buyers out looking are at least thinking about moving or buying a home when they go out looking. We’ll break down the different motivations in this article.

Tire Kicker
You know the saying about car shoppers and the same can be said for home shoppers with a low motivation. They’re just looking at homes thinking about moving. Maybe their thinking their current home is too small (or too large), and want to see what’s out there for a price they can afford. They are working with agents they know and are willing to show them homes because of previous dealings. We have clients like this and we know eventually they will find a home that motivates them. But it can take months, if not years before they purchase a new home.

First Time Home Buyer
First Time Home Buyers usually have a higher motivation than Tire Kickers, but often not much higher. They’ve been thinking about buying a home for a couple of months (or years) but are usually renting and don’t have an immediate reason to move. Their motivation can pick up a level or two if they have a lease coming up and have to move by a certain deadline. Let’s just say their motivation varies, depending on the weather.

Growing Family
A current homeowner that has a more immediate need can have a much higher level of motivation due to a baby (or two) on the way and they are running out of room in their current house. They are working with an agent who has listed their home and hope to find one to make an offer on as soon as they get an accepted offer on theirs. Their motivation becomes very high when they have that accepted offer.

House Just Sold
This applies to a homeowner like above who for whatever reason is moving and has just sold their home. The motivation factor is very high in this case. This is where you might get above list offers if they really like a home.

Job Transfer / Relocation
Depending on the timeline (as in just started or already changed jobs) these home buyers are motivated or very motivated. Sometimes they will just buy a home that works and plan to move in a few years once they know they are staying in the area. Highly motivated buyers in this category might make above list price offers as well.

Investor
Never in a hurry until they find a good deal. Usually a low cash offer but sometimes will pay good price on a nice home with good income potential whether flipping or renting.

The reason sellers need to know all this is there is a wide range of motivation in the buyers looking at your home. So what you need to do is make your home stand out so you impress all buyers that look at your home. This is what we refer to as being the ‘Shiny Penny’. All buyers will gravitate to the ‘Shiny Penny’ and you’ll get more and better quality offers if you make sure your home stands out.

Want to make your home a ‘Shiny Penny’ when you’re ready to sell? Call or text The Derrick Team at 317-563-1110 and we’ll come talk to you about what you need to do to your home with no obligation to hire us when you’re ready to sell. We like to help home buyers and sellers with all their real estate needs.

Apr 272015
 

In the old days it was common for the seller to throw something in with the home to sweeten the deal during negotiations. Sometimes this is still considered but if the buyer is financing the purchase that gets a little tricky. Anything not installed in the home is considered ‘Personal Property’ in legal terms. So when you write up an offer any ‘Personal Property’ listed can become a problem when a lenders underwriter sees this. There are guidelines many lenders are required to follow if they plan to sell the note after closing. One we see more of is no personal property is to be included in the sale of a home. Lenders do not want to see that big screen TV being paid for over 30 years of the mortgage.

Part of the home.

Part of the home.

So what are things that can be included?
Common items include built in appliances like stoves, dishwashers, built in microwaves, and even refrigerators (though they don’t have to be mounted per say). Other items are built in play equipment like swing sets, sandboxes, & basketball goals. Also items that are large and bulky can be included like sheds, above ground pools, spas & hot tubs, and boat docs. Built in items like in wall speakers, retractable projection screens, and those fancy outdoor grills & ovens. Only a couple of items slide by the built in requirement like window treatments and pool tables, but sometimes even those cannot be included.

Then there are the no-no’s.

No-no

No-no

Common items that will be rejected by a lender are accessory appliances like wine coolers, blenders, coffee makers, that extra freezer in the garage or anything that is not built in to cabinets, walls, etc. Outdoor patio items and lawn equipment will never be considered in addition to any sort of furniture inside or out. Even items like bar stools that match the bar cannot be listed on a contract. Any of that shelving in the garage cannot be included unless mounted to the walls. I think a normal rule of thumb is if you can move it without using tools to undo it, it is considered ‘Personal Property’, with of course the occasional exception.

Now keep in mind this really only applies if the buyer is getting financing to purchase the home. With cash deals, anything goes! Otherwise these items can be included with a ‘Bill of Sale’ that takes place after closing and not paid out of the loan financing. This places the transaction separate from the home purchase and the lender doesn’t care about that part of your deal.

Be sure and go over everything with your Realtor when you list your home. This is something The Derrick Team will detail on your listing contract so feel free to contact us with any questions when you are preparing your home to sell. Call or text us at 317-563-1110 or email us at DerrickTeam@DerrickTeam.com

Also want to give a shout out to JP Brens at Caliber Home Loans in Avon who provided us with great info on this subject. Be sure and give JP a call at 317-414-2743 with any questions on financing questions you have. We highly recommend JP for any financing needs you need!

Mar 102015
 
Avon Home ready to show

Make is sparkle!

You’ve completed all the tasks to get your home on the market such as cleaning, decluttering, painting, etc. and just signed the contract to sell your home. Signs in the yard and your home is officially on the market. Now you start getting the calls from agents who want to show your home. Here are some tips on making your home stand out.

Be Ready To Show
First it’s generally a good idea to have the home ready for showings at all times. You just never know when an agent is out showing homes and their client’s spots your home and wants to check it out. Last minute showings aren’t that common but they do happen. In some cases that’s not possible depending on your situation but keep in mind you want to avoid turning down showings if at all possible. It often comes when an agent shows a nearby home and spots yours. So it pays to always be ready.

30 Minute Drill
Since you are going to be living there you will probably create messes as you cook, play, etc so just be neat and try to always clean up afterwards. Create a family drill where each member has a task to clean up an area in less than 30 minutes. Clean homes usually sell faster so in an ideal market you won’t have to do this drill very many times.

Light It Up
When you have a showing make sure all the lights are on and the drapes / shades are open. You want to buyer to see your bright clean home in the best possible light. Change out those money saving bulbs for brighter wattage in darker areas. When we are showing homes we often try to walk ahead of our clients and turn on lights but we don’t always see all the lights and may miss some nice accent lights that show off an area of the home. A neighbor or family member could come set up the home if you are not in a position to do this for all showings.

Air It Out
Smells invoke reactions and buyers will react to bad smells, even in a beautiful home. If possible open the windows and air out the home before showings. Remove any items that may cause bad smells like the trash with last nights leftovers, dirty litter box, soiled laundry, etc. or the smell will come right back when you close the windows. Avoid strong smelly sprays & scented candles as they often make the buyer think you are covering things up. Sometimes a little splash of bleach in the drains can make a room smell fresh and clean, but don’t overdo it.

Make It Nice
If you really want to impress your potential buyers put out some individually wrapped snacks on the kitchen table with a ‘help yourself’ sign. Little bottles of water work nicely with that as well. Have some soft easy listing music playing in one area just to make it feel comfortable. If you have a dedicated entertainment room a ‘G-Rated’ movie playing at a low volume can be a nice touch. The idea is to make them envision themselves enjoying living in your home.

For Pet Owners
Like most pet owners you probably let yours run around the house while you’re away. You really want to address this during showings as not all people like or feel comfortable around pets, especially large dog breeds. We’ve seen where agents wouldn’t even enter a home if a large dog is loose. So at a minimum we suggest you crate both cats and dogs for showings. Keep in mind it’s for the pets’ safety as well as doors may not be closed and your pet may escape the house and run away. But really the best option would be to remove the animals during showings. Talk with a neighbor or family member about helping if you are not always available to do this.

Vacate!
This may seem obvious but sometimes we come across sellers who hang around while their home is being shown. We’ve dealt with this a few times and it really makes our clients uneasy. The last thing you want to do is make them uncomfortable, as that feeling will stick with them. If you want to keep and eye on people looking at your home go over to a neighbors and hang out or sit down the street in your car. This is completely acceptable and it makes it easy for you to know when it’s safe to return to your home.

We try a prepare sellers that it can be quite a job to sell your home. But the better you are prepared the better your home will show so hopefully you sell quickly and you won’t have to do all these items very many times. Feel free to call or text The Derrick Team at 317-563-1110 or shoot us an email with any questions you have about selling your home. We’re here to help!

Dec 292014
 

Whenever we discuss our commissions we often find that people have no idea how a REALTOR® gets paid and all the work behind getting those paychecks. While each real estate company has different way of compensating their agents, certain aspects remain consistent no matter which brokerage they represent.

The first confusion is that REALTOR®s work for a broker as an employee and are compensated for any or all of the broker’s sales. The truth is that agents are actually self-employed as independent contractors. Indiana’s real estate license dictates that agents affiliate with a brokerage unless they choose to start their own company (there are other requirements before an agent can do so). As independent contractors we are only compensated on our own sales and not any other brokerage sales. So if a REALTOR® doesn’t sell any of their properties, they don’t make a cent. In some cases with larger teams, they all might get a cut of the team’s sales but that is really determined by the team leader.

The next part that is fairly consistent is with the brokerages’ compensation to the agent for the agent’s own sales. With each sale the commission is paid to the brokerage. Then the brokerage pays the agent based on predetermined percentages and other expenses. The part that varies with each brokerage is how they pass on expenses to the agents. In some cases it’s up front charges and others it’s taken out of the agents commission as a percentage of the sale. In either case understand that when you see the commission figures on closing documents, your agent is only getting a portion of that amount.

Now that you know we are self-employed you also have to understand that an agent is responsible for all their own taxes, professional fees, ongoing education requirements, transportation costs, and a lot of their business expenses. Some brokers provide a lot for their agents while others provide little if anything at all which often determines the commission percentages. But no matter how much the brokerage provides all agents will have to cover a lot of their own expenses if they want to be a successful agent. As you look at the chart to the right you’ll see in the end an agent gets a small profit from each sale and only after a successful closing.

So to summarize agents only get a percentage of the commission and only when they list and sell your home or help a buyer purchase a home. Up until a successful closing real estate agents assume all the expenses involved and receive absolutely no commission if there is no sale. As you can see a successful REALTOR® will do everything they can to help sell their listings, as there is no payday until they do.

Commision-Split

Dennis & Connie Derrick (The Derrick Team) are a husband / wife team and are associated with Carpenter Realtors because they provide the best marketing to their agents. Then The Derrick Team goes the extra step to present your home in the best possible way to buyers, as this is what we know helps sell your home. You only get the extra marketing by selecting The Derrick Team. We are also unique in that we enjoy what we do so helping our clients in any way we can is part of the experience you have with us. We like to help people with their real estate needs, but we do have bills to pay as well. Give us a call to discuss your needs today at 317-563-1110 or shoot us an email at DerrickTeam@DerrickTeam.com.

Dec 092014
 

The Power of the Internet

As Carpenter Agents, The Derrick Team utilizes every appropriate form of marketing tools Carpenter Realtors provides us but then will do even more for sellers to maximize the exposure to interested buyers. As many buyers today do their “First Showing” online with various Internet sites it is very important that an online showing is the best it can be. As most sites pull their data from the MIBOR information, we provide the best descriptions, pictures, links and detailed information to the BLC listing on MIBOR so this happens. Then Carpenter Realtors has negotiated with the Indianapolis Star and Homefinder.com to upgrade listings with options beyond the standard listing advertisements. Carpenter Agents can also add more information at www.CallCarpenter.com.

In addition to all this great online marketing, The Derrick Team will add to the Internet showings with a dedicated web page on our own Derrick Team web site for each of our listings. Why is this important? With each of the products and sites provided to agents through MIBOR (via MATRIX), the amount of information and pictures is limited due to the large number of listings on each web site (500 character limit in description, 24 photos). By having a page dedicated to each listing we can expand the information, pictures, videos, to as much as we need to properly market your property. A link to www.DerrickTeam.com is included in all marketing materials so interested buyers can easily check it out for more information.

But Wait, There’s More!

We will use web analytical traffic measuring tools to track traffic to the site to allow us to fine tune our marketing process. In addition to this we market our listings using social media such as Facebook, Twitter, our Derrick Team Blog, and Craigslist.com. This exposes your property to an even wider variety of possible buyers; all those on-line, tech-savvy, professionals.

Almost any Real Estate Agent will offer you some sort of Internet marketing but we know The Derrick Team is one of the few who will offer you all of these marketing methods, at no extra cost to you! All our marketing tools will make sure your property gets the maximum exposure where it counts, with interested buyers looking for property like yours!

Real World Marketing Examples With Maximum Exposure!

First we create a dedicated web page:

DedicatedSiteExample

 (which is automatically distributed to Facebook, Twitter, and other social media sites)

Then we advertise the Open Houses in Home Finder section in the Sunday Indianapolis Star and mention the web site as part of the description so readers can get easily find additional information about your home:

ThursdayAd

 Then we Facebook about the Open House which also draws more viewers to your listing on our web site:
FBopenhouse

Then we continue to market in print media, flyers, other web based real estate sites, always mentioning the web site for more details. Our upgraded take one flyers also reference the web site giving drive by buyers a quick way to get more information. In addition they can have a number they can text to receive a complete tour of the home on their mobile device.

TakeOneFlyerForestCommons-1

For a no obligation we’ll be happy to do a free market analysis of your home and show you everything we do to help you sell your home with the exclusive Derrick Team Above & Beyond Marketing. Call or text us at 317-563-1110 or send us an email.

The Derrick Team: Full Customer Service and Full Marketing Exposure!

Dec 162013
 

When you use The Derrick Team as your Real Estate Brokers you are represented by true professionals who are there for you. When you recommend us to your family,  friends, & coworkers, etc you know we will work hard for them and make you look like a hero. Think of everyone you know and let us know who is the next person who will be selling and/or buying a home, no matter how far in the future it might be. We are happy to work with people to plan a large transaction such as buying / selling real estate. And don’t forget you’ll receive a gift for any leads to go under contract! Call or text us today at 317-563-1110.

Photo-Mean-Business-Mailer

Nov 202013
 

love-referralsWe all could us some extra $$$! Here is all you have to do.

Next time you’re chatting with friends, family, coworkers, etc, and the topic of buying or selling real estate comes up, ask if they’ve been working with an agent to help guide them through the process, even if they’re 6 to 24 months out from doing anything. If the case is they have not or just are not impressed with the ones they’ve been dealing with, tell them you know a great team of agents ready to talk to them about anything real estate. Then send us their contact information and we will take it from there. Once we have successfully represented them with a real estate transaction, we’ll send you a gift card. Now how easy is that? And the bonus is they’ll love you for hooking them up with The Derrick Team. We work hard to keep our clients happy and make sure everything goes as smoothly as we can.

A big thanks to those who have already taken advantage of our referral program. This past year Alice, Noel, Keida, Todd, Tim & Brandi, and Cathy (our referral queen), all received gifts from us. It’s easy for you and you’ll know your referral is in good hands with The Derrick Team.

Call or text us at 317-563-1110 or use our handy Contact form here.

 

Nov 012013
 

Almost ThereYou’ve probably heard the horror stories from friend or had the unlucky experience yourself where you’ve sold your property and then unexpectedly you haven’t. You were making plans to move, maybe already had an offer on another home and now everything is back to trying to sell or buy a home. It’s one of the more frustrating parts of buying and selling real estate, but it happens. So in this article we’ll discuss some of the common reasons and some indicators to be on the lookout for.

There are several items that can require negotiation when selling / buying real estate and each one can be a potential trouble spot. Obviously the starting point is negotiating the price and contingencies in the purchase agreement. An offer with more contingencies is the first warning as that makes more hurdles to get over to finally close the transaction. The Derrick Team takes pride in writing ‘clean’ offers that avoids this when possible. Solid offers mean better chances of closing making everyone in the deal happy.

Problem Spots
But there are usually at least 2 contingencies that cannot be avoided after the price has been agreed upon. First the buyers should be getting an inspection for their own protection and a seller should be prepared for this, even if selling ‘as is’. Once the inspection report is done the buyer can renegotiate getting items repaired or an adjustment to the price. This is a common part where things go wrong as the buyer is in control here and the seller has to be on top of things to keep the buyer happy. If the buyer is not satisfied they can walk away and only be out the inspection costs.

The second contingency kicks in if the buyer is getting a loan, as then the property must be appraised to determine the value meets the loan amount. This can be tricky in today’s market because of the recent drop in home prices in some areas (that’s just now starting to climb again). This is a wild card and again the seller needs to be prepared for this possibility. In some cases the appraiser will point out some condition items of the home that have to be addressed as well, especially if its a FHA, USDA, or VA loan.

A few of the other common reasons are the buyer loses their job, the buyers own house sale falls apart, or the buyer loses interest and walks away (usually forfeits the earnest money). In rare cases the seller suddenly doesn’t want or need to move anymore and does a mutual release to remove the property from the market. In that case the buyer can hire a lawyer but it usually costs less to just go find another home.

For all these reasons and more it pays to have a good Realtor working for you. As mentioned a solid clean initial offer reduces the chance of a deal falling apart.

Being Prepared
A seller should know the general condition of their property and thus have some expectations on what a home inspection is going to turn up. When setting the marketing price that should be a consideration so if needed you can have a little wiggle room to address possible issues. One of the things we guide both sellers and buyers on is that the inspection report should be used to spot potential safety and expensive repairs, not cosmetic issues. But then there is always those surprise issues that show up (mold, hidden water damage, termites, etc) that can change everything.

If the home marketing report is used to set a realistic sales price the appraisal shouldn’t be an issue. But some homes are easier to estimate depending on the types of homes in the area. If there is an issue with the appraisal there are ways to keep the deal moving forward and a good Realtor knows how to do that. But this sometimes is what we call the ‘wild card’.

So a couple of things to watch for from the initial offer are a low earnest money amount (buyer doesn’t have much to lose if they just walk), or a lot of contingencies that have to be addressed before closing. A good Realtor will discuss all these with you and if any of them are a big concern.

Another red flag can be when the lender seems to be dragging their feet on getting the loan approved resulting in multiple delays on the closing date. Again a good Realtor can stay in contact with the lender to see what is holding things up and let you know what your options are if things don’t look good.

What You Need
A smart Realtor stays on top of every deal to make sure no options are missed when things start to go wrong. We at The Derrick Team work hard for our clients to make sure we get deals closed. We advise our clients on possible sticking points to try and eliminate surprises and explore multiple options when there are. We want everybody to be happy when we walk away from the closing table with another successfully closed transaction.

Call or text The Derrick Team at 317-563-1110 when you are ready to sell or buy and know you’ll be well represented in your next real estate transaction. Use our handy Contact Form here.

 

 

 

Aug 222013
 

Derrick Red Ad signYou might think that all Realtors are the same but just like any other profession each individual does things a little different. With Connie and Dennis Derrick you’ll find our ‘different’ is good for you.

We work as Realtors because we enjoy it.
We work harder at this work than others we’ve done before because we like what we do. We really enjoy working with our clients to achieve their goal of selling and/or buying property.

We have experience beyond real estate.
Connie has had her license since 1996 and has years of customer service. She’s often the person who will contact you with updates. Dennis has been remodeling homes for years and has knowledge beyond most Realtors on important construction factors. Also he has been involved with Internet marketing and web design since the late 1990’s, which translates to extensive marketing tools for our listings.

We like to have fun with it.
While there are a lot of serious work in the process of selling and buying, we also like our clients to enjoy working with us. We consider good clients friends for life.

You have a team working for you.
With The Derrick Team you get 2 Broker Associates working directly for you backed by a large staff at Carpenter Realtors. You’ll find this very important during contract negotiations. Teams are better than one when you really need it.

Award Winning Realtors.
The Derrick Team has been winning awards for the past several years. Our dedication to our clients will continue to equal long-term success for both our clients and future clients.

We are the ‘Pet Friendly’ Realtors. We have quite a few pets ourselves and understand your love for yours. We know pets are great companions and will enjoy visiting and getting to know your closest pals.

Contact The Derrick Team by calling or texting 317-563-1110 or shoot as email at DerrickTeam@DerrickTeam.com.

2.5 Million sales volume for 2015

2.5 Million sales volume for 2015

 

 

Jun 262013
 
magexample

Dedicated web site address

One of the many tools The Derrick Team utilizes to market our listings is the Call Carpenter Homes magazine. Our listings are added in there automatically by Carpenter when we list your home. But one thing that only The Derrick Team does is include a web site address in an ad so the reader can easily get more information on your home.

Carpenter prints the exclusive Call Carpenter Homes magazine bi-monthly filled with hundreds of Carpenter listings. We talk to many people who love to browse the magazine just to see what’s out there. The Derrick Team takes this one step further with a newsletter insert featuring local information along with our own listings.

CallCarpenterMagsOn a typical month we distribute between 300 to 400+ of the magazines with our insert. We deliver in neighborhoods, through stands in local businesses, and as hand outs in open houses and events like the Hendricks County Fair. So your home gets even more exposure locally to help you sell your home.

Find the Derrick Team Newsletter & Call Carpenter for Homes Magazine at: Specks Pet Supplies on US 36 and Los Rancheros at CR 100N & 267  in Avon, Edwards Equipment on Main Street in Danville.


Looking for business owners in the Avon / Danville area to co-market with.Derrick Team Magazine Rack

If you have or know someone with a area business with walk in traffic we’d like to invite your business with a free-to-you co-marketing opportunity!

The Derrick Team is one of Hendricks County’s successful real estate teams with Carpenter Realtors and utilizes all forms of marketing, much of it unique to The Derrick Team. While we have a strong presence on the Internet, we also utilize traditional printed media to connect with the local community in Hendricks County and the Indianapolis western metropolitan area.

We will be glad to include your business information and even provide ad space in our newsletter in exchange for a location to setup stand in your business. We take care of keeping the stand full with fresh stock. You just let us know what you would like to include. We can add flyers for your business in the magazines or a coupon in the newsletter. And we will do all the printing at no cost to you. We’ll even blog about your business to increase you own Internet presence.

Now how often do you get to advertise like this for free?

Call The Derrick Team today at 317-563-1110 for more information.

 

Jun 142013
 

Almost ThereAfter your agent has successfully negotiated the final documents with a buyer you smile and think your home is finally sold. Nope, the show hits the road and a good agent kicks into high gear. Depending on contingencies there will more negotiations possible during the sale process.

Typically the first will be from an inspection done for the buyers. This can be just for the buyers satisfaction but more often these days the buyers lender will have requirements that your home will have to pass before they will give the buyer a loan on the home. Common ones are termite inspection or tests on the well water and septic system if they apply. FHA loans can be denied if there is peeling lead based paint or the roof is beyond its designed life.

A good Realtor will note these items at the time of listing so you as the seller are prepared for possible costs involved with selling your home. But some items cannot be seen and thus will be part of the negotiations after the inspection report is delivered to the buyer and the buyer’s lender. These expectations also can be discussed before the inspection with the buyers if the accepted price considered items needing repairs. This is one of the reasons home warranties are popular now, as this will assure the buyer if mechanicals such as heating systems are really old they will be taken care of after the sale for minimum costs. The Derrick Team always recommends home warranties to our sellers.

Next comes the wild card, the appraisal. A good Realtor has looked carefully at the comparative home sales when pricing a home and has advised the seller on the possible appraisal value. Except for cash buyers, the appraisal will always set the price the buyer is going to pay. That is unless they can apply more cash on top of the loan amount to make up the difference (very rare these days). At the time of sale a good Realtor will examine recent comparative sales to provide to the appraiser if applicable. These days communications with the lender / appraiser / Realtor has to be limited so caution is the word. If the appraisal comes in lower than the sale price, the seller must discusses with their agent possible negotiations and options to keep the sale in motion. A good agent will have ideas to work out a deal that is acceptable to all parties.

Finally there is the closing. Working out a good time for everyone to meet and sign the paperwork along with when buyers take possession is one of the final negotiations, often based on the original purchase agreement but can be changed if all parties agree. The good thing is this is the one everyone is eager to accomplish and usually can be worked out to everyone’s satisfaction. You know everything’s been handled well when you have a smooth closing.

So keep in mind when hiring a Realtor to sell your home, the marketing is only the first step. You want an experienced Realtor ready to be representing you every step of the way, keeping all the gears well oiled all the way to that smooth closing. Call The Derrick Team today to discuss our marketing and closing processes that leads to happy clients at 317-563-1110.

Feb 272013
 

Inventory in the local real estate market continues to drop as more homes are sold and less are being added to the market. We are trending to a sellers market as sales continue to be very active in 2013. As you see in the reports below, Hendricks County is the lowest it’s been in several years, lower than the state average in the second report.  Prices will soon be increasing as the inventory stays low.

Call The Derrick Team if you are ready to sell as buyers are out there that want to buy now!

Hendricks County January 2013 Real Estate Report

As reported for the entire state of Indiana:

State Average for Inventory Supply

Jan 152013
 

In an unusual twist the real estate market got really busy at the end of 2012. Most of the time the end of the year is considered the ‘quiet time’ for real estate as the normal sales cycle slows down, especially around the holidays between Thanksgiving & New Years Day.

During this ‘quiet time’ The Derrick Team was really busy with several offers and sold half our inventory. Buyers are out in force and investors are snapping up homes left and right. One of our listings had 4 different cash offers!

Take a look at the Hendricks County November report below and you’ll see the highlighted figure of Months Supply of Inventory at 5.8. It’s been a long time since this has dipped below 6 months, which is often when the market edges closer to a sellers market. We hear buyers already complaining they cannot find the type of home they want.

Hendricks-County-Inventory

We were wondering if this would carry over to 2013 and so far it does seem to be the current trend. The activity on our listings and what other agents are saying indicates that the local real estate market is still going strong.

So what’s that mean for you? If you’ve been holding off on selling, don’t wait much longer. Interest rates are still low and buyers are already looking. If you wait much longer, you’ll have more competition as many sellers wait until late March or April to list their home. If you list now you’ll be in a better position to take advantage of the inventory shortage and could possibly sell quickly!

Give The Derrick Team a call and we’ll be glad to do a free Comparative Market Analysis and work out a plan to get you on the market quickly. Call us at 317-563-1110 right now!

Oct 202012
 

AhoSoldWhen you are going to sell a home, you first need to determine how motivated you are. A motivated seller will listen to good advice and prepare the home to show well to encourage offers from buyers. The not-so-motivated will say, “They’ll just have to buy it and fix it up themselves”. What the not-so-motivated don’t get is they can expect a longer time to sell for lot less money.

Before you look at a marketing report from your REALTOR be sure and think carefully about your motivation as that does effect how you price the property. Once you’ve received your marketing report with a range of possible listing prices based on solds, pendings, and the active competition in your area, look carefully at what sold / pended, as that is your target on what buyers are looking for. The actives are really for information only and should not be factored into your list price.

Now consider your motivation for selling. Look at the following and see where you fall:

  • Very aggressive – Must sell. Examples: Job relocation, health or financial reasons, divorce, or estate settlement.
  • Aggressive – Would really like to sell but don’t have too.  Examples: Need a larger/smaller home, would like to live in a different school district, want to live closer to your work/family, or ready to move to your retirement destination.
  • Kicking the tires – Will sell under the right conditions. Examples: Interested in a different home on the market, tired of cleaning a large home, ready for a maintenance free condo.

No matter what your motivation level is, do yourself a favor and get your property show ready. The feedback you want to hear is “home shows nice”. Those are the homes that sell quicker and for higher prices which is what every seller wants, no matter your motivation.

No matter what your motivation is, give The Derrick Team a call for a FREE no-obligation home market evaluation at 317-563-1110.

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