AUGUST HOME SALES BEHIND PACE SET IN 2013, AHEAD OF FIVE YEARS PRIOR
Prices better than last year and continue to lead housing performance statewide

(INDIANAPOLIS, IN) – There were just 276 less homes sold statewide in August than during the same month of last year, a 3.6 percent decrease; however, last month's home sales outpaced the five years prior to 2013. This is according to the Indiana Real Estate Markets Report today released by the state's REALTORS®.

August home sale prices were better than last year. The median sale price of $130,000 is a 4.0 percent increase from 2013, and the average of $159,846 is a 6.1 percent increase.

Other year-over-year comparisons from the report show -

• The number of pending home sales increased 4.4 percent to 6,889
• The percent of original list price received increased 1.6 percent to 94.2
• The number of new listings decreased 6.7 percent to 10,327
• The inventory of homes for sale increased 4.8 percent to 47,901

"Activity may fall a bit short of the impressive levels it reached last year, but housing has performed much stronger altogether than predicted the first of the year, with prices leading the charge," said Karl Berron, CEO of the Indiana Association of REALTORS®.

"It's encouraging to see second quarter GDP growth revised upwards and stronger-than-expected jobs numbers in recent months," continued Berron. "Wage growth is the fuel necessary for recovery to really take off."

Source: http://www2.realtoractioncenter.com/site/MessageViewer?amp;autologin=true&dlv_id=342549&em_id=364213.0

Selling an elderly or deceased relative’s home can be one of the most selfless tasks anyone is ever called upon to do—and not just because it’s hard to let go of a place that has so many loved ones’ memories. What frequently adds to the emotional component is the condition of the house. Although your Aunt Elda might have loved the shag carpeting and the harvest gold kitchen appliances, those features can be counted on to turn off today’s typical home buyer. Bearing in mind that selling a home is first and foremost a business proposition, it’s frequently necessary to apply a few quick fixes to transform the storehouse of one family’s cherished memories into an appealing place destined to house another’s.

Ask: What Dates the House?

If a house reminds prospects of grandma’s place, unless they’re in a determinedly DIY frame of mind, they’ll move on to the next property on their list. Don’t let them overlook the many positive features of the house just because of a few old fashioned details. Scout out items that make the house look dated—and clear them out of there! Remove worn or discolored carpeting, then either replace with a bound carpet remnant or two, or leave the floors exposed. Selling a home can hinge on a few minor things like replacing old cabinet knobs and light fixtures with more modern versions, or repainting walls in neutral colors.

Replace Kitchen Appliances

Our elders may have drilled into us the wisdom that it’s wasteful to get rid of perfectly good appliances, but homebuyers may not be swayed. For selling a home in today’s market, replacing appliances can be an easy way to inject new life into an old kitchen (even if the rest of the kitchen will need further updating by its new owner). But before splurging on any appliances, consult your real estate agent about what type of appliances buyers expect in this price range. If the place could make a perfect starter home for a young family, inexpensive white appliances might be just as strategic as the stainless steel models.

Or…Embrace the Vintage Charm!

Realistically, sometimes it would take too much money to update an inherited house. If that’s the case (and time is not an issue), turn the problem into a positive by embracing the house’s vintage charm! Old is just the wrong way of viewing antique…and one person’s dated can be another’s classic. If you’re dealing with a home that could double as a set for TV’s “Mad Men,” consider playing up the ‘60s theme with furniture, curtains and even vintage magazines you find at thrift stores or yard sales. Kiplinger.com finds that today’s buyers particularly appreciate eat-in kitchens—so why not add a period-appropriate dinette set to emphasize that space? But don’t forget to thoroughly clean carpeting, curtains and other items that may hold odors. Selling a home may mean capturing the look of a bygone era—but never the smell!

A dated family home will sell faster and appeal to more buyers when you’re willing to make the right strategic changes. Spending just a little time and money can transform an overlooked house into one that demands a second look—that invites a new family to make it the site for another lifetime of memories.

Thinking of selling a home in the Evansville this fall? Calling me today for a price assessment is a solid first step! You can call me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com

You’ve successfully located the home that fits your wish list! The listing agent says the home is in “great condition!” Financing is pretty much a done deal! Time to relax!

Er—maybe not just yet.

When you are buying a home, among the scores of thoughts that might be racing through your head (“Is this the best one for the money?” “Will everyone be comfortable in it?” “Will it be enough house over the long haul?”), one you definitely don’t need is “Will this house become a money pit?” 

The home that looks perfect may well be exactly that—but if not, you certainly don’t want to find yourself pouring hard-earned dollars into repairs that become apparent only after you have signed. Surprises are fine for birthday parties, but to avoid the sort no home buyer needs, getting a professional property inspection is the most direct way to tell if there are any significant underlying issues.

To alleviate the worry, you should make any offer conditional on a home inspection…then order up a professional property inspection done by an experienced home inspector.

When a home inspector arrives at the property, he or she will invite you along on the tour. However, you don’t have to accompany the inspector to some of the less-accessible areas like the roof, attic and crawl spaces (unless you want to). The inspector will likely start outside, checking for any suspicious areas that may allow water to penetrate, then move indoors for a thorough investigation of each room in the house. As the inspection moves along, definitely feel free to ask questions as they crop up: after all, inspector works for you!

It’s important to remember that any property inspection is not 100% certain to uncover every possible defect: a home inspector, no matter how experienced, is not clairvoyant. But you will receive a thoroughgoing assessment of the potential likely problems with the home’s systems—as well as an opinion on the condition of the home. You may be able to renegotiate your offer should conditions warrant it.

 Property inspection costs tend to differ depending on the size and condition of the home, and usually take anywhere from 2 to 6 hours to complete. Often, the verbal assessment made at the time will be very informative. Later, you’ll get the fuller detailed written report. If the inspection reveals a deal-breaking flaw, you will have saved yourself from a bad investment. Less commonly, more detailed property inspections could be in order—especially if you are also ordering sewer line, pool, fireplace or other specific inspections. Most inspectors offer discounted rates if subsequent inspections are in order.

Property inspections are not intended to offer warrantees or guarantees, but an experienced  home inspection is the next best thing. It’s something most homebuyers find makes their purchase a lot less stressful. If you’re looking at buying a home in the Evansville area this fall, call me today to discuss the market. And once you find a likely new home, I can recommend several of our most experienced and reliable property inspectors. You can reach me on my cell phone at 812-499-9234 or email Rolando@RolandoTrentini.com

Residents don’t have to have children at home to know when we’ve gone through the familiar back-to-school rituals. Just turn on a radio or TV, step into a retail store, or drive past a school and the calls to educational muster are evident. At the same time, it’s hard not to be reminded how significant education is when it comes to home buying—how likely it is for schools to be on the forefront of many buyers’ minds.

Most people know intuitively that top-notch schools carry significant weight in the searching and home buying processes—but the result of a survey done by realtor.com has spelled it out in black-and-white. Their research reveals that more than 60% of buyers consider school district boundaries during their home buying process. It’s a surprisingly weighty number.

The depth of interest that buyers registered was also illuminating. The same survey uncovered the fact that prospective homebuyers are willing to spend more—and give up other features—in exchange for a house located in a preferred school district. For example, many buyers said that they are ready to ignore access to shopping malls and parks to be in a district where their preferred school is located.

Prospective buyers are likely to also factor in the impact the same phenomenon could have on a property’s resale value down the line. That could be part of the reason why more than 23% of respondents said that are willing to pay 1-5% over their budget to be in a preferred school district boundary. Another 20% said they would pay 6-10 % above budget, while 9% would pay as much as 11-20% more!

When queried about which factors weigh most heavily on their home buying preferences, over 90% said that school district boundaries are either “important” or “somewhat important.” Only 7.4% said that school districts are “unimportant” or “very unimportant,” while 2% classified them as “neutral.”  

This level of unanimity should be of interest to anyone about to embark on their own home buying expedition—whether or not they have children of their own. It’s hard to ignore the proposition that when you go to resell a house in the future, its school district may carry the same importance to home buyers down the line. If today’s buyers give such importance to school district boundaries, it may not pay (to borrow Wall Street’s famous phrase) to “fight the tape.” In any case, it always pays to ask questions, do some neighborhood research—and to call me when you’re looking to buy or sell in Evansville!  You can reach me on my cell phone 812-499-9234 or email Rolando@RolandoTrentini.com