Archive for the 'Home Selling Process' Category

Do I Sell My Current Home Or Keep It As A Rental?

Posted by Shawna Ebersole | Categories: Home Selling Process, My Home's Value

I recently met with a couple on Saturday and this is exactly the question they are considering.  They currently owe about $96,000 on their current home, but they live in a declining neighborhood and on a good day, their home might sell for $85,000.  Typically, in the Indianapolis area, it is safe to budget about 10% of the sale price to cover all of the seller’s closing costs…such as the cost to have their realtor pay to market their home, to represent them in the transaction, to handle all of their negotiations; it also pays the other agent who brings us the buyer; it also helps cover the cost of the seller’s title insurance, deed and affidavit, pro-rated taxes, etc.

Well, 10% of an $85,000 sale price would be about $8,500.  Subtract $8,500 from the sale price of $85,000 and this means the seller would be taking $76,500 away from the closing table.  However….they still have to pay their mortgage company $96,000 to get out from under their mortgage.  So, instead of walking away with $76,500 it really means that the seller would be bringing $19,500 to the closing table just to get out from underneath their current home.

The thought of this sounded awful to the seller so we talked about the possibility of keeping their current home as a rental property.  Here are some important things to think about if this is an option you might be considering:

• Talk to a reputable lender to know for sure that you can qualify for your new home purchase without having to sell your current home.  Why go through all of this if you really can’t move into the home you really want right now?
• Think of the tax considerations.  Having a rental property can be a great tax write-off.  Any improvements you make to the “rental property”…any maintenance repairs, insurance, interest on a mortgage, property taxes….all of this stuff could be a tax write-off (but talk to your accountant for more specifics).
• If you keep your current home as a rental property, you have someone else helping to fund your retirement account!  Just think about it, 30 years from now that home will be paid for, it will probably worth at least twice what it is right now and if you choose to sell it at that time, you get to walk off with the cash.  But for 30 years you had someone else in there making all of the payments for you…pretty cool, huh?
• Keeping your home as a rental can help you move on and take advantage of today’s AWESOME Home Prices and KILLER Interest Rates…without feeling like you’re taking a kick in the stomach for the sale of your home.

OK, those are some highlights of having a rental property, but how about some of the negatives?

• Maintenance Issues?  If you’re like me, I barely know how to change a light bulb, so the thought of being the 24 hour maintenance person on a rental property made me nervous.  But here’s how you handle that…get a Home Warranty for the property.  For $38 a month, I have a Home Warranty on my rental property and the renters know that whenever they have a problem, they are to call the Home Warranty company first, not me.  The Home Warranty company sends out a contractor, the renter pays the $50 deductible at the time the repair is made and then they send along the invoice for the deductible with their next month’s rent and simply deduct $50 off of their next month’s rent…works like a charm!  You can use any Home Warranty company you want, but the one I use is HSA Home Warranty.  Check them out at:  www.OnlineHSA.com
• What if the renter trashes the house?  Great consideration.  I’ve found that the best way to avoid this problem is to collect a hefty deposit up front…and I’m talking an amount that is at least the value of the first month’s rent.  If you have someone paying $850 a month in rent and they know that if they take good care of your property, they’re going to get $850 back at the end of their lease, they are going to be much more motivated to take good care of the property while they’re in it.  *As an important PS to this…don’t make the same mistake I made…don’t do the final walk through with the tenant, determine that the property looks good and then give them their deposit back on the spot.  Have it written into your lease agreement that you will return the deposit 60 days after the walk through.  That way…if they fail to pay their last utility bill(s) and you get stuck with them, you can take it out of the deposit.

Got more questions on whether this is a good consideration for you or not?  Call, Text or Email…we’ll talk about it!  317.294.1861 or Shawna@iShopGreenwood.com

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Your Home SOLD In 120 Days Or It’s FREE!

Posted by Shawna Ebersole | Categories: Home Selling Process

Have you heard about our 120 Day GUARANTEED Sale Program, but want to know a little more about how it works? Please click below for a better explanation:

120 Day Guarantee Explained in Plain English

We feel very fortunate to be in a place where most of our business comes from repeat business or from the kind referrals we continue to receive from friends, family and past clients.

However, every once in a while someone might stumble upon Shawna’s Home Team through a flyer or a postcard and they don’t really know us that well and want to take a closer look before making the plunge and deciding to list their home with us.

We completely understand and for that very reason, we have attached below a list of some helpful resources that we think will help answer most, if not all of the questions you might have about Shawna’s Home Team and how the marketing we do sets us apart from our competition.

So if you have a few minutes to spare, please browse through the links below and if you still have questions about any of it, please feel free to contact us directly at 317.893.1636 and we would be happy to answer any additional questions you might have.

Cover Letter

Easy Exit Listing Agreement

Do’s and Dont’s When Selling Your Home

Greenwood Star Feature Article – Shawna’s Home Team

Money Making Tips For Preparing Your Home To Sell

Meet The Team!

Our 21 Step Marketing Plan Is In Two Parts Below:

 So What Are We Going To Do That’s Different From Anyone Else? – Part 1

What’s So Different? – Part 2

What’s So Different? – Part 3

By the way…we apologize that some of the marketing pieces above have to be viewed in separate parts.  A few of the files were too big to upload without separating them a bit…we hope to have this corrected soon…

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Money Making Tips – Preparing Your Home To Sell

Posted by Shawna Ebersole | Categories: Home Selling Process

What more could you want than to get your home sold for top dollar in short order without any hassles?  If you take a moment and read through the following suggestions before you put your property on the market, you’ll be well on your way to a successful sale.

Our goal is to simplify, depersonalize, and de-clutter your home in order for it to show larger and brighter, giving a more spacious feeling to potential buyers.  These steps will provide you with an advantage over the competition. 

Many items will need to be removed to storage and packed for moving.  This is important and should be considered as merely giving you a head start on the move to your new home.

General Prep Tips:

• Start by airing out the home.  Most people are turned off by even the smallest odor.  Odors must be eliminated, especially if you have dogs, cats, or young children in diapers or if you are a smoker.
• If it has been over a year since the carpets have been cleaned – or if they really need it – now is the time to do it.  Bare floors should be waxed or polished, as well.
• Clean and wipe down all stained woodwork including doors and cabinets with a wood maintenance product such as “Old English” or “Liquid Gold”.
• Replace or clean A/C filters.  Clean all A/C vents and intake grids.
• Kepp A/C set no warmer than 75 degrees and heat no cooler than 70 degrees.
• Use an air freshener in each room (try to avoid floral scents as they can be too strong).

Lighting:

• Upgrade the wattage in all light fixtures to the highest level safety will allow.
• Dust/Wash all light fixtures and fans.

Windows:

• Dust blinds, windowsills and plant ledges.
• Remove any cobwebs inside and outside.
• Clean interior and exterior of all windows and glass doors.
• Take screens off before washing and leave screens off of the front of the house.
• Keep all blinds/shades pulled up/open and draperies removed to allow maximum light.

Carpet:

• Steam clean if not replacing.  If replacing, we can help you make choices that will be most appealing to buyers.

Bathrooms:

• Clean all tubs, toilets and sinks.  Then polish the sinks with lemon or vegetable oil.  Polish all hardware to a shine.
• Stow unused shampoos, soaps, scrubbing implements, razors, etc. under sink.
• Stow laundry hamper in closet.
• Stow wastebasket under sink.
• Rugs/commode lid covers should be removed.
• Store cleansers under sink.
• Streamline counter – only 1 or 2 decorative items on display.
• Linen cabinets should be organized and number of items reduced.
• Use baskets to hold make-up and toiletries so that after use they can be stored under the counter.
• Bathtubs, showers and sinks should be freshly caulked.  the grout and tile should be clean and in good condition.  There should be no leaks in the faucets or traps.

Kitchen:

• Keep all flat surfaces (countertops, appliance tops and furniture) cleared off as much as possible.  Kitchen counters should have very little on them to show that there is plenty of available workspace.  keep appliances stored when not in use.
• Go over the kitchen as if you were a health inspector.  Clean the oven, range (put in new drip pans) and check the seal of the dishwasher door.
• Remove all magnets, notes, pictures, etc. from the front and sides of the refrigerator.
• Stow trashcan in pantry or underneath kitchen sink.

Utility Room:

• Organize shelves and put away non-cleanser items.
• Keep area clear of clothes.

Pantry / Closets:

• Thin all closets dramatically and organize remaining items neatly on shelves and be sure to allow space between hanging items.  at one very visible spot, leave space, so the rear wall of the closet/pantry will show when the door is opened.  Leave a small empty space on each shelf to show potential storage space.

Bedrooms and Living Areas:

• Make sure that there is not too much furniture in a room.  Select pieces that look best and put others in the garage or storage.
• Depersonalize your home by storing personal photos so that potential buyers may visualize their personal items in the home.  this is probably one of the most important things to a potential buyer!

House Exterior:

• Thoroughly sweep down all exterior sides of the house and eaves to clean cobwebs and wasp nests.

Yard:

• Keep lawn mowed, weeded and well-edged.
• Trim trees and shrubs.
• Clean out flowerbeds and invest in a few flats of colorful flowers.

Front Entry Porch:

• Be sure front door area is clean and free of dirt, dust and cobwebs.
• Repaint door and trim if not pristine.
• Add new thick “Welcome” mat and keep it clean.
• Make sure doorbell is working properly.

Garage:

• Drastically clean and re-organize.
• Sweep and clean – remove all cobwebs and any oil or grease from floor.

Click Here For Our Downloadable Brochure

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Moving Checklist

Posted by Shawna Ebersole | Categories: Home Buying Process, Home Selling Process

Well, I certainly am thankful to be having a couple of closings coming up in the next week.  In one of our closings we’re representing the Buyer and in the other one we’re representing the Seller.  But either way, both have a lot to be doing to get ready for the big move.

If you’re anticpating a move, these are some helpful suggestions that might make the transition a little smoother:

Before You Leave

Address Change

• Post Office:  Give forwarding address
• Charge Accounts, Credit Cards
• Subscription:  Notice requires several weeks

Insurance

• Notify company of new location for coverages:
• Life, Health, Fire and Auto

Utility Companies

• Gas, electric, water, sewer, cable, telephone, fuel, garbage
• Refunds on any deposits made

Bank

• Transfer funds, arrange check-cashing in new city
• Arrange credit reference

Pets

• Ask about regulations for licenses, vaccinations, tags, etc.

Delivery Companies

• Laundry, newspaper, change over of services

Medical, Dental, Prescription Histories

• Ask doctor or dentist for referrals; transfer prescriptions, eyeglasses, X-rays.  Obtain birth records, medical records, etc.

And Don’t Forget…

• Empty freezer; plan use of foods
• Defrost freezer and clean refrigerator
• Place charcoal to dispel odors
• Have appliances serviced for moving
• Clean rugs or clothing before moving; have them moving-wrapped
• Check with your Moving Counselor; insurance coverage, packing and unpacking labor, arrival day, various shipping papers, method and time of expected payment
• Plan for special care needs of infants and pets

On Moving Day

• Carry enough cash or traveler’s checks to cover the cost of moving services and expenses until you make banking connections in your new city
• Carry jewelry and documents yourself; or use registered mail
• Plan for transporting of pets; they are poor traveling companions if unhappy
• Let close friends or relatives know the route and schedule you will travel including overnight stops; use them as message headquarters
• Double check closets, drawers, shelves to be sure they are empty
• Leave old keys needed by new tenant or owner with Realtor or owner

At Your New Address

• Obtain certified check or cashier’s check necessary for closing on your new home
• Check on service of telephone, gas, electricity, water and garbage
• Check pilot light on stove, hot water heater and furnace
• Have appliances checked
• Ask letter carrier for mail he may be holding for your arrival
• Have new address recorded on driver’s license
• Visit city offices and register for voting
• Register car within 5 days after arrival in state or a penalty may have to be paid when getting new license plates
• Obtain car inspection sticker (where applicable) and transfer motor club membership
• Apply for state driver’s license
• Register children in school
• Arrange for medical services; Doctor, Dentist, Veterinarian, etc.

Hope these help…Good Luck!

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Shawna’s Do’s & Don’ts When Selling Your Home

Posted by Shawna Ebersole | Categories: Home Selling Process

THE DO’S:

1. Most buyers have a hard time imagining how a home will look with their belongings in it.  Your goal is to give them a blank canvas.  To that end, you should:

• Remove any excess clutter.
• Keep the home well-lit and bright-leave on a few lights in key areas throughout the home and pull   the curtains open.
• Leave your home every day with it ready to show.

2. Your goal should be to make a positive first impression.  That impression starts from the second the buyer pulls up to your home.

• Keep your yard clean.  It should be cut and watered regularly.
• Trim your hedges and pull any excess weeds.  If you have a flowerbed, make sure it looks well maintained.

3. Make any necessary repairs upfront.  If you make the kinds of repairs upfront that you’re going repairs upfront that you’re going to have to make anyway, your house will look more attractive to potential buyers.

• Repair loose or damaged shingles, walkway tiles, siding and caulking.
• Repair any cracks, leaks, or water damage.

THE DON’TS

1. It’s best not to be present during showings.  We recommend that you leave 15 minutes before the scheduled showing time is suppose to begin and arrive back at the home 15 minutes after the showing is suppose to have ended.

2. For your own security, don’t leave valuables in plain site.

3. The showing feedback is our way of finding out what the market has to say about your home.  Don’t ignore this feedback.  We will discuss all feedback with you and make suggestions.  Please be prepared to listen to this informed advice.  If we have a buyer that is asking a lot of questions and seems really interested, you will hear from us right away.  Otherwise, you will receive all feedback each Friday.

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