Caroline's Real Estate Blog

Note, Email, Phone, Face to Face or Text?

ccinamon@curryteamindy.com (Caroline) — Fri, 21 Nov 2008 12:39:00 +0000

I think handwritten notes are cool! I like writing them and I love receiving them. I received a handwritten note in the mail from the waiter that we had at Sullivan's. Did you read that? The waiter from Sullivan's sent me a handwritten note- my first thought is what a great idea! I will for sure ask for him the next time I go to Sullivan's. I still am not sure how he got my address.

So here are my rules- Caroline's rules- for types of communication. Your rules might be different but I think it is a good idea to have rules. I think it is a good idea to have rules for everything.

1) Handwritten notes are always good. They are good if you send them even if time has passed- sometimes I think better. You should ALWAYS write a handwritten note when someone has given you their time (especially in a business setting), when someone has given you gift or when someone has done special you feel like is special. There is never a bad time for a handwritten note.

2) Use the type of communication with a client- or anyone for that matter- that they prefer. I have client's that prefer email, phone, text, fax - I try to use the communication that THEY prefer to receive. If someone contacts you contact them back in the same manor. If they email you- email them back. If they call you- do NOT email them. I send texts to my step son because I typically receive a response- if I call him many times he does not call me back. He prefers texts.

3) When you are meeting with someone face to face or via a conference call do NOT talk on the phone, return emails or texts when you are with that person. The entire time! Turn your phone off or on mute. I think this sounds pretty simple- you go to the movie and you turn your phone off but it seems like people do it all the time. I met someone recently for a coffee and she spoke on the phone with someone else for the first 10 minutes of our time together. It seemed weird to me.

4) Have one phone number- this can be a hard one but I think more and more people are moving towards this. Specifically when you are a client based situation, they should not have to call two or three numbers to find you. Have one number that follows you everywhere. Make it easy for people to reach you.

That's it- those are my rules. What are your communication rules? They don't have to mirror mine but think about how you are communicating with clients, potential client, friends and family. Make sure you are respecting their form of communication.

Depend on your Realtor

ccinamon@curryteamindy.com (Caroline) — Thu, 20 Nov 2008 14:45:00 +0000

I liked this article for many reasons but I think it really emphasises the reason(s) why you should find an agent that can be your life long real estate consultant when you are selling, buying or simply researching real estate. This speaks specifically to why to find a good buyer's agent especially in this fantastic buyer's market that we are in currently.

Do you know someone that needs an agent to represent them on the buying side of a residential real estate transaction? If so, drop us a line ccinamon@curryteamindy.com with their contact information and we will give them a call.

Depend on your Realtor By Julie Young - The Indianapolis Star

In this buyer's market, working with a Realtor will help you as a home buyer navigate through the myriad of homes on the market. These agents are available to listen to your needs and find the listings best suited to your particular price point (and criteria).

With 85 percent of the home-buying starting online, it makes sense that chief among the services agents offer is up to the minute mobile searches that send alerts right to your your email or cell phone.

Agents help their clients establish home-buying plans that outline what they want in a home, what they reasonably can afford and timetable for when they can expect to move in. Buyers count on their Realtors to act as advocates for them just as sellers agents act as advocates for their interests. Realtors make sure that all pre qualification forms are completed, contracts are in order and an inspection has been preformed before attending closing.

While agents and buyers don't have a formal agreement in the same way in the same that agents and sellers have an exclusivity agreement (in this market), sticking with one Realtor you feel comfortable with will maximize your home buying experience and give you the best shot at real estate sucess.

ccinamon@curryteamindy.com (Caroline) — Wed, 19 Nov 2008 14:52:00 +0000

October Market Watch by Jim Litten-President of F.C. Tucker

I highlighted the points that I think are most important. 1) If you are in a rental situation or are moving from another market and do NOT have a home to sell. The time is now to purchase a home in greater Indianapolis! 2) Lenders are still lending money everyday! Call us if you have questions about the real estate market- we are here to help!

Decreasing home inventory still indicative of buyers’ market

INDIANAPOLIS – October housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across Central Indiana, while a decrease in available inventory reduces competition among sellers, according to pended sales statistics compiled by F.C. Tucker Company.

“Contrary to perception, mortgage money is widely available and rates are quite good. Combined with a steady demand for housing, we are seeing the number of homes for sale in Central Indiana continue to drop,” said Donna Kreps, Executive Vice President of Tucker's Residential Real Estate Services Division. “Home buyers are still experiencing unprecedented opportunities throughout Central Indiana.”

Available homes for sale dropped 12.7 percent in October with 17,746 homes on the market, 2,582 fewer homes than in October 2007. Marion County experienced the greatest decrease in inventory at 18.5 percent.

Central Indiana homes are holding their value better than other real estate markets. The average year-to-date sales price for a home in the nine-county area was $145,779, 5.2 percent less than what was reported in October 2007. In comparison, the latest data from the National Association of REALTORS® reported the national average year-to-date sales price was 9 percent lower than the same period last year, as of September 2008.

Of the nine counties, Hancock County was the only one to experience an increase in homes sold in October, with a 23.8 percent increase in sales compared to the same time last year.

The average number of days on the market is 93 days, a 6.9 percent increase comparing year-to-date figures from 2007 and 2008. Hamilton County boasts the shortest amount of time – 83 days – for homes on the market through October 2008.

Fall Reminders

ccinamon@curryteamindy.com (Caroline) — Fri, 10 Oct 2008 15:16:00 +0000

It is fall! What amazing gorgeous weather we have had! Fall evenings and mornings and warm afternoons- seriously, what more could you ask for?

Here are a few things you should do to maintain your home this fall.

1) Have furnace serviced by a qualified contractor.

2) Change furnace filters.

3) Replace central humidifier pad.

4) Close crawl space vents.

5) Check fireplace flue for creosote build-up and check damper for operation.

6) Check roof for damage, loose or missing shingles. Checking flashing areas as well.

7) Clean gutters.

8) Install or lower all storm windows.

9) Shut off water to outside faucets and disconnect all garden hoses.

10) Insulate any plumbing located in garage or other areas subject to freezing.

11) A third application of fertilizer for your lawn should follow in mid-October.

12) Empty or let gasoline tank on your lawnmower run dry before winter storage.

13) Take a careful look at eh exterior of your house and see that it is previously protected from the elements.

Have a happy fall!

The "R" word

ccinamon@curryteamindy.com (Caroline) — Thu, 07 Aug 2008 02:48:00 +0000

I went to dinner with my dad tonight and he said it, that we are in a recession. I said please don't say that word in front of me anymore. He said it just means that they announced that the GNP is not growing- whatever that means. This is what the current economy means to me-

We are having a great year in real estate. We have sold as many homes this year as we did last and it is only August. When people ask me about how are business is doing- I always say "that we are doing really well!".

Here is how my career has broken out in real estate.

2005- slow, which I expected since it was my first year.

2006- fantastic!

2007- better than 2005 but not as good as 2006, which I did not expect but decided to work harder to make 2008 another fantastic year instead of throwing the "R" word around and making excuses.

2008- fantastic- this will be my best year by far in the real estate world!

I took this from a friend's blog today - Raquel with Silver Square, Inc. - and I think it is where the economy is today.

The Formula that Changes EVERYTHING by Jack Canfield

It seems that everywhere you turn these days, you hear people talking about the economy.

What’s interesting is that some people are scared to death about it, while others couldn't be happier.

While I don’t claim to be an economist, I do know one important fact. The economy is the same for everyone, it’s how you respond to it that determines how you feel about it.

It’s yet another example of what I’ve been teaching for years. . .

E + R = O (Events + Responses = Outcome)

The basic idea is that every outcome you experience in life (whether it's success or failure, wealth or poverty, wellness or illness, intimacy or estrangement, joy or frustration) is the result of how you have responded to an earlier event (or events) in your life.

Online Networking

ccinamon@curryteamindy.com (Caroline) — Wed, 06 Aug 2008 13:51:00 +0000

Okay, please raise your hand if you are overwhelmed by online networking- I am raising mine high right now!

It seems as if there are so many places that you can be a part of online networking in our current Internet world. Here are the one's that I am a part of on a regular basis. Take a look at my profiles and become my online friend/connection today.

I am on LinkedIN. This is what the LinkedIN people say they are- "Your professional relationships are key to your professional success. Our mission is to help you be more effective in your daily work and open doors to opportunities using the professional relationships you already have. This isn’t networking—it’s what networking should be. Forget exchanging business cards with acquaintances that don’t know your work, or trying to renew professional ties when you need a favor."

I feel like it is a good place to stay "online" connected in the business world. A good place to go if I needed a job or needed to hire someone. A good place to go if I wanted to try to get contact information for someone at a specific company. I like LinkedIN. Here you would not become my friend but would be my "connection". Here is my profile on LinkedIN, become my connection today.

The second place I have a profile in the online world is Facebook. I love Facebook! It has been so fun. A friend of mine said the other day that she might have become addicted to Facebook and I can see this might be a growing problem for me too. This is what the people at Facebook said they are "Facebook is a social utility that connects people with friends and others who work, study and live around them. People use Facebook to keep up with friends, upload an unlimited number of photos, share links and videos, and learn more about the people they meet." I just love Facebook...did I say that already? I have gotten reconnected old friends and classmates. It is a place where you can post pictures of your family or your life and share with others. It is a great place. Here is my profile on Facebook , become my friend today.

I have chosen to be involved with only two online networking groups full time but there are many others out there. There are one's that charge you to participate and one's that don't. My opinion is that you should not have a profile up if you can not maintain it, just my opinion, so that is why I decided to stick with two groups so I can keep up with the maintenance.

Hope to see you online today!

Market Watch for June 2008

ccinamon@curryteamindy.com (Caroline) — Sun, 03 Aug 2008 14:49:00 +0000

Central Indiana housing market continues to outperform national averages
Low prices contribute to sustained buyers’ market

INDIANAPOLIS – June housing statistics point to continued opportunities for buyers to take advantage of lower housing prices across the nine-county central Indiana region, while a decrease in available inventory reduces competition among sellers, according to pended sales statistics compiled by F.C. Tucker Company.

Bucking the national trend of record housing inventory levels, available local inventory dropped 6.6 percent in June with 19,412 homes on the market, 1,376 fewer homes than in June 2007. Boone and Hamilton counties, however, reported a slight increase in the number of homes available.

“While the market begins to correct itself, central Indiana home buyers are in a good position to find a house in their price range,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “The average sales price is 5.1 percent lower for the first half of 2008 compared to the same period in 2007, with Morgan County being the only area to show a slight increase in average sales price.”

The average year-to-date sales price for a home in the nine-county area was $144,733, 5.1 percent less than what was reported in the first six months of 2007. The latest data from the National Association of REALTORS® (NAR) reported the national average year-to-date sales price was 8 percent lower than the same period last year, as of April 2008.

With the current sales pace, Indianapolis also leads national absorption rate with an approximately 8.5-month supply of homes for sale as of June, versus the NAR national average of 10.8 months, using the organization’s latest figures from May 2008.

June pended home sales in the nine-county area were down 18.3 percent compared to June 2007 with 2,296 homes pending. Pended sales during the first half of the year are down 13.9 percent compared to the same time period in 2007. So far this year, 13,719 pended home sales have been posted; 15,935 homes were pending during the first half of 2007.

The NAR predicts improved sales in the second half of this year due to better lending practices, an improving economy and a pending home buyer tax credit which could draw potential buyers back into the marketplace. “With Central Indiana ranking high on the affordability index and national ‘best places to live’ polls, we anticipate a brighter outlook going into 2009,” Litten said.

Interest Rates

ccinamon@curryteamindy.com (Caroline) — Sun, 03 Aug 2008 14:36:00 +0000

I think the perception of what interest rates are doing by the general public is always interesting. When my mom starting selling real estate in the 1980's interest rates were at just below 20%! People still bought and sold homes and the interest rates eventually came down.

Here is a report sent to us by Mike Holl- he is our Tucker Mortgage person in our office. "There currently is a perpetual fear that the mortgage interest rates are the highest they have been in years. In looking at the attached chart, you’ll see in June of 2007 the 30 year fixed was at 6.75% and in June of 2006 it was 6.875%. Please share with any buyers / sellers you feel will have a benefit from this information." I am sharing with all of you.

Mortgage%20Interest%20Rates%202005-Present.xlsx

Greater Indianapolis- A wonderful place to live!

ccinamon@curryteamindy.com (Caroline) — Sat, 02 Aug 2008 12:48:00 +0000

I was born in Indianapolis and have lived here my entire life (except for college and about 12 months- another blog all together) and My mom - who I work with- has lived here her entire life. They have lived at around 71st and Dean for 32 years - the home where I grew up and we live at around 146th and Gray in Westfield and have lived in our home for 8 years.

If you need information about Indianapolis we should be your "go to" people- we KNOW Indianapolis.

I think Greater Indianapolis is a great place to live and raise a family or have a career or meet people or go to dinner or see a show or go to the zoo or go to the museum or see a sporting event or....

Check out the short video with Indianapolis as the city of interest and let us know when you are ready to move here.

Jon McLaughlin - For You From Me - OFFICIAL VIDEO- thank you to dad who forwarded the video to me and to Carole who forwarded it to him, you both are awesome!

Summer Suggestions

ccinamon@curryteamindy.com (Caroline) — Mon, 09 Jun 2008 13:19:00 +0000

It seems like summer has already began (especially with the heat that we have had lately) but summer does not actually start until June 20th. Many people start their summer the weekend of Memorial Day- myself included- but summer will really start a week from this Friday. Here are some suggestions to keep your house maintained this summer.

1) Check wood exterior areas for rot, warping and peeling paint.

2) Trim tree limbs away from roof and siding.

3) Trim bushes away from sidewalks.

4) Drain water heater (one time annually). this reduced sediment in the bottom of the tank.

5) Seal cracks in the exterior walks and driveway to help prevent further deterioration.

6) Change furnace filter.

7) Have septic tank cleaned every two years (if you have a septic tank).

8) Check hardware on garage door.

9) Check motorized attic vents for operation.

10) Clean refrigerator coil. Coils located behind bottom grill tend to become clogged quicker than rear mounted.

11) Check the temperature in your attic on a hot day. Temperatures of more than 120 are not abnormal. Installing a power attic vent would not only make your house more comfortable but may save on your expected roof life and save on air conditioning expenses as well.

12) The second application of fertilizer for your lawn should be made in late August or early September.

13) If gardening is your hobby, please make sure that your garden is not located over a septic field. For the location of your septic field, contact your local health authority.

14) Monitor for mildew and mold.

15) Have a fantastic summer! Spend time with your family and friends and just RELAX!

Bobbie

ccinamon@curryteamindy.com (Caroline) — Wed, 21 May 2008 20:47:00 +0000

My aunt died last Wednesday. I have not been able to write this here until now and it is still very hard.

I started my blog on advice from a good friend of mine (also my "marketing manager" or at least she will be when I sell enough homes that she can actually be on my payroll instead of doing work for me at little to no cost). She feels like it is good to have a blog for many reasons- check out hers here - it is incredible the knowledge that she shares on a daily basis- reasons including driving traffic to your web site, storing information pertaining to your industry so it can be accessed by clients or potential clients and the list goes on and on. I have found it to be cathartic for me. I have never thought of myself as a writer but many have commented on my writing here on my blog and how they have enjoyed it. It has become a place where I can publically share my thoughts- even if only a few are reading them.

So today I am sharing my thoughts on my Aunt Bobbie. She was so much! I will list some of the things she was here but I am sure I will miss a few.

1) She was a good friend to my son David. She played with him when no one else found the time. She made him laugh. She always thought of him.

2) She was a loving mother to Peter. When I see an adult that I think is amazing, I tend to look towards their parents to see how they became who they are today. Peter is an adult that I admire to be- a friend to many, a listener, a writer, a mentor, a therapist. He is a person I look to for guidance.

3) She was a sister. My mom is Bobbie's sister. My mom was in a way like a mother to Bobbie and in a way lost a child last Wednesday. It is hard to lose a child.

4) She was my aunt. Bobbie was my aunt. She gave me cool presents and notes each holiday ( I mean each holiday including Easter, Valentines Day, Halloween- each holiday) she wrote notes to me that showed her deep appreciation for the person that I was to her. She was my aunt.

5) She believed in God. Not only did she believe in God but she believed in Faith. She believed everyone should have a faith in something (something that they believed) and it did not matter to her what that was. She just wanted them to believe.

The list could go on and on but I will end there for now.

Her funeral service was on Monday and it was so true to who she was. Peter and my mom did a fantastic job of planning the day on what they thought she wanted. She was buried in an Indian dress with a halo of live daises around her head. She wore putulli oil. We sang "Moon River" at the burial.

There were tons of people who attended the calling (or visitation as Shannon liked to say), the funeral, the burial and the celebration. I never realized how many friends Peter had. I always knew that he was a good person but I was never aware of how many lives he has affected and helped with in his career.

Larry (Peters father) spoke about the times when they were first married in the 60's. He spoke about all the traits that attracted her to him and how she was in so many ways misunderstood.

I spoke for mom and did a horrible job. It was hard to hear due to me not being close enough to the microphone- mom made me aware of that immediately.

Peter spoke about the movies she loved, the books she read and the people in her life. He spoke about my dad being probably the only man that she really trusted. He spoke about their car trips together. He is an amazing speaker.

My aunt is not with us today and it is hard. I want her to come back. I want to have one last of her deviled eggs, I want her to go with David to the "Kids" museum one last time, I want her to send me one last note.

I love you Aunt Bobbie and will forever remember you!

What did you do for Earth Day?

ccinamon@curryteamindy.com (Caroline) — Tue, 22 Apr 2008 23:53:00 +0000

Earth day was today. Earth day was founded in 1970.

Let me just start by saying I am not the perfect example of what Earth day is all about. We have never recycled (before today) and I am not sure I have ever tried to save on water, electricity or gas except to save on our bottom line dollar.

Today, this Earth day- 2008, I am going to try to turn over a new leaf.

I have tried in the last couple of years to use environmental friendly cleaning products but I am not sure my goal was for the earth but to make my family and home a more environmentally safe home. Today, I will still continue to use those products but I will start thinking not only about MY family but about the earth and more importantly about our children and our children's children who will inhabit the earth.

So what have you done today to contribute to making the Earth a more friendly place to live? I heard a quote that we as Americans contribute 5% to the world's (the Earth's) population but consume around 25% of the worlds resources. How much do you and your family consume?

If you can do just one thing to make a difference I think it is worth while. Do something, change something in your life that you are comfortable with. This is what we have done- some might work and some might not.

1) A couple month's ago I stopped buying plastic bags- the lunch sandwich type. When you think about it you don't think it would be hard to give up small plastic bags but it was. Have you tried to fit American cheese slices in a reusable container? But we did it, change is good.

2) Today I purchased totes to recycle with. I will be honest, I have not paid to recycle in the past because I was not sure that the items that the so called recycling company picked up- after I paid them- would actually not be put into that same garbage refill. Today we are going to start recycling- plastic, glass, metal, paper, cardboard and hazardous containment's like paint. My goal will be to take them to a recycling center myself that I don't have to pay for but will be assured that the items that I drop off will be recycled.

3) Our next goal as a family is to give up paper towels. Should I say it was our families idea or my idea. I have not talked to David about it yet- he really doesn't have a choice but I called Mike thinking that he would say no way. That way I could just act like I wanted to be Earth friendly but blame it on my family. But instead he said "how we would do that?". I think it is a good question so I said "well we would have 1) separate towels to clean up spills on the floor or other areas that we would usually use a paper towel 2) we would use cloth napkins when we had a snack or a meal 3) we would clean with cloths or towels that could be washed" and he said...."okay let's give it a try. "

That is all we can do "give it a try". We can try not to use paper towels and if it is manageable which I think everything can be after you get through the "changes" that occur with that try. We gave the no plastic bag thing a try and it is manageable. I do think sometimes why am I not reaching for a plastic bag but I don't think about the Earth first, maybe I should, but I think about David's children.

Give it a try- you can do tons of stuff. You could give not using plastic baggies a try, or not using paper towels or using cleaning products that are environmentally friendly but you could also give a ton of other things a try that might fit better with you and/or your family like composting, riding the bus (IE: Lora), taking a reusable bag to the market, carpooling, turning off the lights, using less water- really the list goes on and on and on. I ask you this today - Earth day- give it a try and see what works for you.

Blog/Animals Lost continued

ccinamon@curryteamindy.com (Caroline) — Tue, 22 Apr 2008 17:23:00 +0000

I will tell you one of the hardest things about keeping up to date on my blog is that I feel like NO ONE is reading it. I am not really one of those people that needs a ton of attention, or am I?, but I started this Blog to give information to people (primarily about the Greater Indianapolis real estate market) but when I feel like no one is reading the information or finding it useful then that is when is hard for me to update.

Today I received an email from a current client who is subscribed to receive my blog entries and it made me so Happy! I also think it is good information so I am posting it here.

"You are probably already familiar with this site but I have it as a reminder every day to click to help fund animal rescue. The sponsors pay every time someone goes to the site and clicks…plus there is some cool stuff you can buy!"- Niki

http://www.theanimalrescuesite.com/clickToGive/home.faces?siteId=3&link=ctg_ars_home_from_ths_thankyou_sitenav

Now the really cool thing is I was not familiar with the site so I am glad that I now am and the second really cool thing is that I am posting it here so everyone that reads my Blog can be familiar with it too.

If you would like to receive my Blogs on a daily basis click here and sign up today.

It would be great to hear from you too about my Blog entries, both any positive or negative comments, it would just be good to hear from YOU!

Too many animals lost

ccinamon@curryteamindy.com (Caroline) — Sun, 20 Apr 2008 13:05:00 +0000

Yesterday Mike and I went to MoonDog to have a beer after we dropped off David at my parents to spend the night. While we were relaxing I read the most recent Nuvo newsweekly and was shocked by what I read.

Most of you that are reading this know that I am passionate about animals and in particular retired racing Greyhounds. So I guess since I feel like I am pretty aware of what is going on in this city as far as rescued animals I was shocked at the numbers I read. Here they are-

Animals handled by Indianapolis Animal Care and Control in 2007:

Received: 17,964
Adopted: 1,760
Returned to owner: 1,402
Transferred: 2,801
Euthanized: 11,508

Animals handled by Humane Society of Indianapolis in 2007:

Received: 8,981
Adopted: 3,967
Returned to owner: 266
Transferred: 482
Euthanized: 3,251

Did you read that? That is close to 15,000 animals that were killed last year in Indianapolis alone....15,000!

You can read the entire article in Nuvo Newsweekly written by Shawndra Miller called "Saving the Strays" here.

If you want more information about adopting a greyhound please go to Greyhounds Pets of American- Indianapolis or Indy Prison Greyhounds or contact me at ccinamon@curryteamindy.com .

If you are looking for a new pet for your family (and don't want a Greyhound) please consider contacting your local shelter or your local rescue group of the breed of your choice, there is a rescue group for EVERY breed of dog and cat.

This is a good book to read if you are in the stage of considering a shelter dog adoption. Rescuing Sprite by Mark Levin

Remodeling...Is it worth it?

ccinamon@curryteamindy.com (Caroline) — Wed, 16 Apr 2008 01:03:00 +0000

Something that I think is very important when a homeowner does any updates or remodels to their home is to make sure that those updates do not cost more than the home is worth. I took a client out Sunday to see several homes and many of the homes needed lots of updating or remodeling (this is something this client does not mind doing, I think they think it is fun). When we looked at the homes and the "remodels" that they wanted to do I wanted to make sure they did not "price themselves out of the area"....in other words-they would do too much cool stuff to the house that it would be worth way more than the area is worth.

When you make an upgrade to your current home feel free to call me and see what I think about it adjusting the value. Don't get me wrong, I will even do upgrades to my home that I know I probably won't see dollar for dollar that money back but if you WANT to get the most money for the upgrades that you do (if that is important to you) call me and I can give you good advice on what is good and what is not so good for the value of your home or your area.

This is an article that I came across in our MIBOR newsletter publication of the Metrolitan Board of Realtors that speaks on this very issue.

The Cost of a Remodel

According to the National Association of REALTORS®’ 2007 Profile of Home Buyers and Sellers (featured in the March 10 edition of this publication), over half of sellers engaged in some kind of home improvement or remodeling project within three months of listing.

Obviously a popular decision, but is every project worth it? And when deciding which project to tackle, how do you know where the money will be best spent?

Remodeling Online has some answers. The 2007 “Remodeling Cost vs. Value Report” provides a percentage of recouped cost on 29 typical home remodel projects. Projects range from garage and bathroom additions to a minor kitchen remodel and window replacement.

Breaking the U.S. into nine regions, the report provides national and regional averages for further detail. What feature will provide sellers with the highest recouped cost on their investment?

Siding replacement (fiber-cement). Nationally, this project provides an 88.1 percent recouped cost and in the East North Central region (Wisconsin, Michigan, Illinois, Indiana and Ohio) 82.4 percent is recouped – the highest percentages for both locations. The lowest recouped cost projects in the East North Central region include adding on a sun room, installing a back-up power generator and a home office remodel.

Cost information for the report is pulled from Home Tech Information Systems, a remodeling estimating software company. Home Tech creates its database of cost information from a network of remodeling contractors and suppliers. Figures include labor, material, sub trades and contractor overhead and profit. Values used in the report were provided by the National Association of REALTORS®. A survey of over 2,500 appraisers, sales agents and brokers provided an estimated value of what remodeling projects would add to the home at resale.

To see the complete list of projects and findings of Remodeling Online’s “Cost vs. Value Report”, visit http://www.costvsvalue.com/index.html. While numerous factors affect the ultimate recouped cost of a project, this might be a good place to start investigating.

Market Watch for March

ccinamon@curryteamindy.com (Caroline) — Mon, 14 Apr 2008 21:01:00 +0000

Sorry that these Market Watch's were so close together. Here it is for March.....

Spring home sales off to slow start

Available inventory down slightly

INDIANAPOLIS – As the spring home buying season begins, pended sales in the nine-county region slipped in March while available inventory showed a slight decline for the first time this year, according to pended sales statistics compiled by F.C. Tucker Company.

March pended home sales were down 14.7 percent with 2,419 homes pending compared to 2,836 in March 2007. So far this year, overall pended home sales are down 10.1 percent from March 2007. Available inventory in March was 18,405, which is 158 fewer homes available than in March 2007.

“While the drop in pended home sales in March is higher than we anticipated based on February’s encouraging numbers, available inventory appears to be starting to balance out,” said Donna Kreps, executive vice president for F.C. Tucker Company’s Residential Real Estate Services. “Going into the spring/summer home buying season, we anticipate a sales spike as homeowners get back into the market, which continues to offer an excellent array of homes at affordable prices.”

The average sales price for a home in March was $140,098, 2.8 percent less than March 2007. Average days on market increased from 91 days in March 2007 to 106 days in March 2008.

By county, pended home sales in Hancock County was 31.6 percent less than in March 2007. Pended home sales in Morgan and Shelby counties were down 5.3 percent while sales in Hamilton and Marion Counties were down 21.2 percent and 9.6 percent respectively.

Story People

ccinamon@curryteamindy.com (Caroline) — Fri, 11 Apr 2008 01:52:00 +0000

Something I really like to do is send notes and or cards. My dad once gave me a gift, now I am not sure I can even remember what it was, but he gave it to me at a nondescript time. I asked him "why I was getting this gift" and he said "I saw this (the item I can not remember) and it made me made think of you so I got it for you". It made me feel really good. It made me feel good because it was a gift -just because, not a Christmas gift or a birthday gift but just a gift- my favorite kind. So now, something I really like to do is find good cards and give them to people just because.

I really like the Story People cards. I give their cards and I have also signed up for their daily e-story of the day. I went to the web site to find out how they described themselves and this is what it said.

"We're a diverse group of people, artists, activists, healers, tinkerers. We talk, we laugh, we eat great food & drink great wine, sometimes we disagree (passionately) & sometimes we agree (equally passionately) & it's all part of the same gift of being alive together. Our wish is that other people experience this amazing world we live in as a world of imagination & possibility & healing. We believe our stories do that. (& that's not just Story People stories, but all our stories...) We believe (fiercely) in the power of stories, not because they're our stories, but because it is valuable & right to protect the precious connections between people.
That's who we are. We forget at times (isn't it amazing how life sneaks up & steals your memory of who you want to be?), but mainly, we remember. It's a future we're creating together, every day, with each other & with each one of you. (Hopefully, you're in a warmer place than we are...)"

I like how they describe themselves. Go to Story People and see if you see anything you like. They sell cards, prints, sculptures, books and furniture but for me they give me a daily way to look at life. Here is one of my favorite "Story People" of the day. I hope it becomes one of your favorites too.

What are the rules? I said & she said, Do exactly what I want whenever I want, make no demands of me whatsoever & love me forever, no questions asked & I said, how do you win? & she said, you don't understand. I'm the only one who wins & then she laughed & clapped her hands. Isn't it a great game? she said.

Market Watch for February

ccinamon@curryteamindy.com (Caroline) — Wed, 09 Apr 2008 12:18:00 +0000

Home sales on the rise
Five of nine counties show increased sales over 2007

INDIANAPOLIS – Home sales in Central Indiana are starting to improve as the spring home-buying season begins. February pended sales were up 0.9 percent compared to February 2007, according to pended sales statistics compiled by F.C. Tucker Company.

Overall, 2,132 homes were sold in February 2008 compared to 2,113 in February 2007. It is the first time since April 2007 that pended sales have shown positive growth, which could indicate that the local housing market is starting to rebound.

Along with an increase in total February sales, five of the nine counties in the Indianapolis area posted an increase over February 2007. Hancock County reported 25 more homes pending than in February 2007, a 46.3 percent increase. Pended sales in Shelby County jumped 21.9 percent compared to February 2007. Morgan County pended home sales increased 19.6 percent.

To date, 4,079 homes have been closed or are pending, 6.1 percent less than the same time in 2007. The average sales price is down 4.1 percent from February 2007, decreasing from $143,174 to $137,363. Homes stayed on the market an average of 108 days, an increase from 92 days in February 2007.

“We hope February’s encouraging numbers are an indication that the local housing market is starting to turn around,” said H. James Litten, president of F.C. Tucker Company’s Residential Real Estate Services Division. “We’ll continue to review sales activity over the next few months to determine if this is a positive trend and if we are starting to gain momentum toward stronger sales in 2008.

“Presently, we are encouraged to see more prospective home buyers come off the sidelines and take a look at the inventory available. It shows that consumer confidence is improving.”

Inventory is up 4.7 percent compared to February 2007. Litten said, “This may be an indication that more home sellers are entering the market in hopes of a strong spring-buying season.”

Good news for homeowners

ccinamon@curryteamindy.com (Caroline) — Sun, 06 Apr 2008 20:11:00 +0000

This was published in last Sunday's Indianapolis Star and was written by Jim Litten the president of F.C. Tucker. I think it is good information about where property taxes are going not only for Washington Twp-Marion County but for the whole state. Now the only question will be how is a property assessed. From my understanding that will be something we can vote on in the November election.

Good news for homeowners and real-estate market

By H. James Litten

Thousands of Indiana homeowners should be breathing a sigh of relief, thanks to the bipartisan efforts of the Indiana General Assembly to ease the tax burden of great concern to Hoosiers since last summer. After months of discussions, legislators agreed to approve a sweeping tax reform package, signed by Gov. Mitch Daniels on March 19, that caps property tax bills for homeowners at 1 percent of assessed value. Rental properties will be capped at 2 percent.

This tax package not only brings great news to homeowners, but I believe it will bring a much-needed lift to Indiana's real estate market, particularly in Central Indiana.

Indiana is fortunate to have one of the highest home ownership rates in the nation, but last summer's tax bills had the potential to dramatically reduce the number of Hoosiers who could afford their own homes. Property tax bills were scheduled to go up an average of 24 percent statewide, but some areas of the state were seeing tax increases of two times or more. When coupled with Indiana's rising foreclosures and continued lending to those with questionable credit, the property tax increases slowed an already-weakened housing market. Many home buyers and home sellers simply put a stop to any decisions about moving.

To be fair, Central Indiana's real estate market still experienced almost 28,000 residential real estate transactions in 2007, the fifth-best record in our area's history. But the fear of larger property tax bills caused many Hoosiers to temper their home buying and selling while waiting for the tax issue to be resolved.

The action taken by Indiana's legislators resolves the property tax issue, hopefully once and for all. Now homeowners and prospective homeowners can accurately predict their semi-annual property tax. This certainty, combined with the pent-up demand we are seeing in the local housing sector, is a recipe for increased sales in 2008 in Indiana. In Central Indiana we are already experiencing some market stabilization with local home sales up 0.9 percent in February compared to the same month last year. It's the first time residential real estate sales have been up, compared to last year, since April 2007.

The tax package also stabilizes Indiana's housing market by helping senior homeowners on fixed incomes. Property taxes cannot be raised more than 2 percent per year for those older than 65 with incomes less than $30,000 (joint incomes less than $40,000). That means more Hoosier seniors will be able live out their lives in their own homes.

Characteristics of Home Buyers

ccinamon@curryteamindy.com (Caroline) — Fri, 04 Apr 2008 14:43:00 +0000

Boy! It has been a long time since I have posted an entry. We went on an amazing vacation and I guess I was just trying to play catch up since. This week I am committing to blogging at least once a day...so check back often for good information concerning Greater Indianapolis Real Estate.

This information was presented to us in one of our weekly sales meeting and I felt like it was good information. I hope you do too.

Characteristics of Home Buyers

The typical home buyer is 39 yrs. old, while the repeat buyer is 46 years old.

The 2006 median household income of buyers was $74,000. Among repeat buyers, the median income was $85,700.

9% of home buyers reported they were born outside the USA.

Characteristics of Homes Purchased

The typical home purchased was 1,810 SF.

67% of 1st time buyers purchased a detached single-family home, compared with 79% of repeat buyers.

The median distance recent buyers moved was 13 miles.

Buyers typically plan to stay in their home for 10 years.

The Home Search Process

79% of buyers purchased their home through a real estate agent or broker.

43% of buyers found their agent through a referral from a friend or family member.

The most important factor buyers considered when choosing an agent is their honesty and integrity.

68% of buyers would definitely use their real estate agent again or recommend the same agent to others.

Home Selling & Their Selling Experience

85% of sellers were assisted by a real estate agent when selling their home.

The most important factor when choosing a real estate professional, cited by 38% of recent sellers, is the reputation of the agent.

88% of sellers reported that their home was listed or advertised on the Internet.

Among recent sellers, 81 percent reported that they used a real estate agent that provided a range of services and managed most aspects of the home sale.

Over half of recent home sellers reported that they undertook home improvement or remodeling projects within three months prior to putting their home on the market.

More than half of home sellers traded up to a larger home when purchasing their next home.

For ¼ of sellers, their most important expectation is that the real estate agent will help sell their home within a specific time frame.

For-Sale-By-Owner (FSBO) Sellers

12% of sellers sold their home without a real estate agent.

The chief reason they did not choose to use an agent was that they did not want to pay a commission.

More than 25% of FSBO sellers took no action to market their home.

For 18% of FSBO sellers the most difficult task in selling their home was understanding and performing the necessary paperwork to complete the transaction.

Vacation

ccinamon@curryteamindy.com (Caroline) — Tue, 04 Mar 2008 20:28:00 +0000

We are on vacation! We being Mike (my husband), David (my son), my Mom and Dad. It is fun!

Saturday I awoke at 2:47 am- my alarm was set for 2:30 but for some reason it did not go off. I finished packing, showered, made sure the house was ready to leave for a week and then off we went. Our first stop was to pick up my parents. My dad (and now my husband- I think my dad is rubbing off on him) likes to arrive at the airport about 25 hours before the plane departs....okay not 25 hours but a long time. We picked up my parents at 5:00am! and arrived in Sarasota Florida around 9:15. What a great world we live in!

My husband always says that we should write a sitcom about our lives and sometimes I think it is true. The flight went smoothly except for me crying because there was so much turbulence. I just kept thinking who will take all my dogs if something happens to all of us! It did not really effect anyone else. My mom and I had a couple bloody Marys and she did a great job of talking to me about other things until all of sudden she said "and this makes me think that I should redo my will so that there are other beneficiaries besides you and David"...nice!

Mike and I rented a convertible (I had a coupon) and we could not figure out how to get the top down so mom immediately went to find help by about 30 rental car agents. My parents car was in an accident so it has a white label on the front windshield that says accident and white arrows pointing to the place where the accident did damage on the car (the white markings like you get a Mike's car wash)....nice!

Off we head to Long Boat Key. My mom said take the lead and when we stopped on the side of the road to look at the map, my dad got out of the car and wondered what we were doing and he said he would lead.....amazing communication had by all.

Our first stop was a cafe in Brandenton Beach to have an early lunch. The sand and the water were so incredible to feel and see! David bought a sharks tooth necklace and we ate lunch and had a beer at 11am. Yeah, this is what vacation is all about!

Mike, David and I went to the public beach on Ana Maria island called Holmes beach to relax in the sun since our check in time was not until 3pm. Mom and Dad went to check in....I will explain later.

Dinner the first night was at home (all of us being so tired from the super early flight).

Sunday we ate breakfast at the Blue Dolphin (David threw up on the table there once when he was two). That's what I always think about when I am there but it was a great meal.

We then went to the pool, to the beach, mom fixed an amazing lunch (another story I will tell you about at a later date- the rules of Kathy Curry...), Mike and I had dinner at the Salty Dog- I actually saw 7 live dogs there and it made me miss my dogs and Mom and Dad took David to diner with Lou and Linda.

Monday we found a great new breakfast place called Rotten Ralph's which sits at on a long pier. We ate a great breakfast and also got to see some amazing birds.

Mike, David and I then went deep sea fishing for the remainder of the day and we caught about 30 fish! The trip was fun and the homes we saw on the coast were way beyond imagination.

Today is Tuesday and we went to Rotten Ralph's again for breakfast even though David wanted to go to the Blue Dolphin. He thinks the Apple Cinnamon Pancakes there are so fantastic, we promised him we would go again tomorrow.

Shopped a little, and then Dad, Mike, David and I went to the Mote Aquarium where we saw Sharks, Dolphins, Sea Turtles, Manatees and many other sea creatures. We stopped by the Salty Dog to grab a bite and now it is raining a little......I am sitting on the screened in porch writing this....life is good!

Mortgage Interest Rates

ccinamon@curryteamindy.com (Caroline) — Wed, 27 Feb 2008 11:48:00 +0000

With so much talk about interest rates in the media, I thought this article below written by Ron McGuire was interesting. To help you get through some of the lingo I have created a quick reference for some of the terms used. Feel free to call us anytime with questions regarding mortgage rates or any other real estate questions.

Ron McGuire- Who is he?

Ron McGuire is president of Tucker Mortgage, LLC, which is part of the F.C. Tucker family of businesses.

BPS- Basis Point

A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly used for calculating changes in interest rates, equity indexes and the yield of a fixed-income security.

The relationship between percentage changes and basis points can be summarized as follows: 1% change = 100 basis points, and 0.01% = 1 basis point. So, a bond whose yield increases from 5% to 5.5% is said to increase by 50 basis points; or interest rates that have risen 1% are said to have increased by 100 basis points.

The Fed- The Federal Government...

CPI-Consumer Price Index

An inflationary indicator that measures the change in the cost of a fixed basket of products and services, including housing, electricity, food, and transportation. The CPI is published monthly. also called cost-of-living index.

MORTGAGE RATES ARE DROPPING TO 5.25%!!!! Unfortunately, that is what many consumers are thinking. The Fed is expected to lower the Fed Funds Rate and the Discount Rate another 50 bps at the March meeting. By lowering the rates the Fed obviously feels this is the top priority to try to make the banks healthy again. Their fear of inflation has been put aside temporarily (although today’s CPI index was higher than expected), but will react quickly and raise the short term rates when the economy gets back on its feet. I expect this should happen by the third quarter of 2008. Remember, short term rates help with home equity lines of credit, auto loans and any loans that may be tied to the prime lending rate offered by banks. Lowering the short term rates will not have a dramatic impact on the housing market until a legitimate plan is in place to lower long term rates (mortgage rates).

Why haven’t the long term rates followed? The main reason mortgages have not dropped but have actually increased substantially is there are no investors buying mortgage backed securities. So, to entice them they have to increase the rates to offer a better yield for their investment. The investment community is still extremely nervous due to the sub-prime or mortgage meltdown. Until the secondary market finds a comfort level with mortgages expect rates to remain higher than normal.

The 10 year minor resistance is 3.85% with a major level of 3.70%. The minor support is now 4.00% with major support at 4.60%. Less than 30 days ago we saw the 10 year hit (for about an hour) 3.27. Because of the lack of interest in mortgage backed securities, mortgage rates have not followed the 10 year note as it normally does.

It is very rare to have such a large gap between short term and long term rates. This has occurred maybe three to four times over the past ten years. I do believe this is temporary; but I am not sold that the gap will narrow dramatically soon. -Ron McGuire

Spring Break

ccinamon@curryteamindy.com (Caroline) — Fri, 22 Feb 2008 13:53:00 +0000

Have you ever wondered when someone else's Spring Break was? Here are most of the Spring Break dates for Greater Indianapolis- or at least the areas we serve most. Happy Spring Break 2008!

Avon
March 31st-April 4th
http://www.avon-schools.org/

Carmel
April 4th-11th
http://www1.ccs.k12.in.us/

Hamilton Southeastern-Fishers
April 4th-11th
http://www.hse.k12.in.us/

Lawrence
March 31st-April 4th
http://www.ltschools.org/

Noblesville
April 4th-11th
http://www.noblesvilleschools.org/

Pike
March 28th-April 4th
http://www.pike.k12.in.us/

Washington Township
March 31st-April 4th
http://www.msdwt.k12.in.us/

Westfield
April 4th-11th
http://www.wws.k12.in.us/

Zionsville
March 31st-April 4th
http://www.zcs.k12.in.us/

Spring is in the air!

ccinamon@curryteamindy.com (Caroline) — Thu, 21 Feb 2008 19:27:00 +0000

It is almost Spring time, my favorite time of year!

Do you know how I know Spring is coming? Two things- 1) We are getting ready to go on our "Spring Break" trip next Saturday the 1st of March, Yeah! 2) I took my son to Toys R' Us last evening (Thanks to Aunt Sandy's fabulous birthday present!) and the summer/spring toy stuff was out in the front, amazing. Kind of like the Christmas stuff being put out in October. Anyway- Spring is in the air for me and here are some Spring time suggestions for you and your house.

The official first day of Spring is the 20th of March so I am sending this out early so you have plenty of time to get the items done before than.....

1) Have the air conditioner checked by a qualified cooling contractor.

2) Turn central humidifier off.

3) Change or clean furnac filter(s).

4) Clean debris from gutters, check their condition (seams for leaks, peeling paint and property secured to house).

5) Check attic areas for leakage (after wet weather), paying particular attention to areas around the chimney(s) and plumbing vents and under valleys.

6) Check to make sure drainage from downspouts and around foundation is flowing away from house.

7) Check crawl space and/or basement for dampness and leakage after a rainy period.

8) Open crawl space vents when weather premits.

9) Check roof for damaged, loose or missing shingles.

10) Check chimney for loose or missing mortar and also for loose bricks.

11) Call a chimney sweep to clean your fireplace.

12) Check your sump-pump to make sure it is operating properly.

13) Get lawn mower tuned and blade sharpened.

14) If you are applying a crabgrass preventor, make this application about mid-April.

15) In the spring, the ideal time to fertilize a lawn is from early to mid-May.

16) Check screens for winter damage, and replace as necessary.

17) Monitor for mildew and mold.

Spring is in the air!

Showings

ccinamon@curryteamindy.com (Caroline) — Mon, 18 Feb 2008 20:32:00 +0000

One of the many things that I think the F.C. Tucker does well is setting up showings for our listing clients. Many times this is invisible to the the typical buyer that is looking for a home since they do not set the appointments but their buyers agent does. When a showing appointment is set on one of our listings the showing receptionist calls our seller to approve the appointment and then calls the buyer agent back to let them know it is okay to show the property and then any special instructions that might be helpful to that agent. Then the showing system immediately emails us to let us know about the showing, have record of that appointment and know all the contact information for the agent that showed the property so we can follow up with them.

This year our office has also been sending us the data for how many showings our listings have had in comparison to last year. So far, who says we are in a declining market? It does not seem like that when looking at these numbers.

Week #6 2008: 99
Week #6 2007: 84
15% Increase

Week #5 2008: 116
Week #5 2007: 92
20% Increase

Showings are what sells houses and it looks like 2008 is going to be a great year for showing a house.