Lesa Miller - Search Bloomington Homes - Indiana University 's Blog

How Long Should it Take to Sell Your Home?

Wed, 11 Jan 2012 14:53:54 -0800

There is really no easy answer to how long it will take to sell your home. Some homes sell in a few days, others in a few months. Recognize these key factors that have significant control over your market time and your home sale will be expedited!

First, location. Location is often the single greatest factor affecting value. People are looking at schools, proximity to grocery stores, schools and shopping or perhaps, in some cases, a more remote and secluded area that allows for more privacy.

Second, what is your competition and what is it selling for in today's market? For instance, if two similar homes are for sale and one home is $150,000 and the other is $165,000, which do you think a buyer is going to buy? Probably the lower priced of the two, right? Why is that? Well if two homes are very similar except perhaps in their finishes the buyer is most often going to want to save that difference in price and enhance the home with the features and benefits that most suit their individual taste.

Third, timing. The number of buyers in the market may be affected by the time of year, weather, job losses or gains and the economy overall.

Fourth, condition. Without a doubt, the property's condition affects the price and speed of the sale. By optimizing the physical appearance of the home and making sure that the maintenance of the home is at its best you are going to have the opportunity for greater success in selling your home.

Fifth, terms. This includes the attractiveness of available interest rates as well as incentives that may be offered that are inviting to buyers.

Sixth, price. Price is a function of time. If the property is not properly priced, a sale may be delayed or even prevented. Comparables tell us where we have been. A seasoned real estate agent that knows the market and has seen changes in the market over time is best equipped to help you price and sell your home when market conditions are changing.

So how long should it take to sell your home? Call us today for a free consultation at 812-360-3853.

Lesa Miller PRUDENTIAL INDIANA Realty Marker Miller Team homes@MarkerMillerTeam.com

Click on MONROE COUNTY HOMES for more.

What is a Short Sale?

Mon, 09 Jan 2012 12:54:24 -0800

What is a short sale?

A short sale is the sale of a piece of real estate for less than what you actually owe on it. In turn, the lender is agreeing to accept payoff on their loan for less than what is owed them. They also pick up the seller’s side of the closing costs so you aren’t expected to bring money to closing in a short sale, which is a key factor for many.

So how do you qualify for a short sale? First, you have to be underwater on your property. In other words, you owe more money than it is worth in the current market or you can’t keep up with the payments and are behind on what you owe the bank. Second, it helps to have some sort of hardship.

A financial hardship for purposes of a short sale can be defined in a number of ways. Either there is a reason you can’t pay the bank (divorce, job loss, catastrophic medical issues, etc.) or you are leaving the state for a job transfer.

So what are the advantages of a short sale over a foreclosure or just opting to turn over the keys to the bank?
A short sale has several advantages over a foreclosure or just walking away. A big advantage is that there is less damage done to your credit. A short sale will reduce your credit score, but generally the damage to your credit score won’t be as great as with a foreclosure or with just walking away. Typically a foreclosure can affect your credit score anywhere from 250-300 points. For a short sale it is typically around 50 points.

A foreclosure on your record can affect your future employment. Employers consider this in their hiring and it can be enough for them to decide not to hire you. Not only that, but it will also affect your ability to get a security clearance, which has become a necessity in many jobs that are available today.

You can’t short sale without approval from the bank and our job is to work with you and the bank to make it happen. We have the experience to put the package together for you, negotiate the transaction with the bank, and if you qualify for the short sale process we can get your home sold and put you on the right track. Call or text us today at 812-360-3863 or email us at homes@MarkerMillerTeam.com. If you are in Bloomington, Ellettsville, Monroe County and the surrounding area, there is no reason for you to have to suffer thru and from the process.

What is a short sale? Contact us to learn more about Monroe County Short Sales.

Homes for Sale Near Bryan Park Area in Bloomington, Indiana under $140,000

Sun, 08 Jan 2012 23:08:18 -0800

These homes are located near Bryan Park and close to the Bloomington campus of Indiana University. There are several bike paths in this neighborhood, which is east of Walnut Street and north of Hillside. Bryan Park is a popular neighborhood park with swimming facilities and plenty of open ground for walking, walking your dog or playing a sport.

Always a strong area for investors, it is often difficult to find homes for sale this close to the Bloomington, Indiana University campus and Bryan Park.

There is a wide diversity of people living in this area and is often considered a desirable living area for Indiana University students. Because of the competition for homes in the Bryan Park Area, it is often difficult to find a house under $140,000 and this close to the IU campus.

You can call or text at 812-360-3863, or EMAIL us if we can help you locate a great home in this area.

Click on Homes for Sale Near Bryan Park in Bloomington, Indiana under $140,000 for details.

Homes for Sale Near Bryan Park Area in Bloomington, Indiana under $140,000.

Lesa Miller homes@MarkerMillerTeam.com www.MarkerMillerTeam.com

Why Should I Use a Professional Stager?

Sat, 07 Jan 2012 17:08:24 -0800

A professional stager will handle every aspect of the staging process from beginning to end for the seller. This includes budgeting to designing the space and providing the rental furniture or facilitating the procurement of rental furniture from a furniture rental company. The stager also coordinates the installation and then the removal of the furniture upon the sale of the home.

What do they typically recommend in terms of your staging budget? Typically a professional stager recommends that you spend between 1-3% of the sales price of the home when preparing it to sell. The Real Estate Staging Association (RESA) recently conducted a study that showed that staged homes sell 85% faster than unstaged homes. If they sell faster in a tight market, that translates into preserving the maximum amount of your equity and more money in your pocket.

Think of staging like packaging. You are simply packaging your product to sell.

If you want more details about staging your home, we are always here to help guide you in the right direction. Call us at 812-360-3863 or email us at homes@MarkerMillerTeam.com.

Lesa Miller Marker Miller Team homes@MarkerMillerTeam.com

Do I Need to be Pre-Approved Before I Go Look for My Home?

Fri, 06 Jan 2012 13:16:48 -0800

Getting pre-approved for a loan can be a fairly easy process. So how do you get pre-approved for a home loan?
The bank will look primarily at four different items when you are looking to borrow money for a home.
They are going to look at: (1) what your annual income is; (2) what your monthly debt obligations are; (3) what your credit score is; and (4) how much money you have available to put as a down payment on the home.

For pre-qualification, the lender is really looking primarily at your annual income. Generally you can multiply your annual income by 3 and that is generally going to give you an average number for how much house you can afford.

With a pre-approval they will take it a step further and will need your credit score. When making an offer on a home, a pre-approval is really what you want rather than a pre-qualification, because a pre-approval allows the
seller to know that you have taken that first serious step in speaking with a bank or mortgage broker.

So, what do you need to bring when you go to the bank? You will need to bring all of your personal debt and financial statements. They will want to know any information that has to do with your inflow of money and your outflow of money on a monthly basis.

The lender will take your monthly inflow and monthly outflow to determine your debt ratio. The lower this ratio is the better for you and consequently the bank. A good debt to income ratio puts you in a position of strength with the lender. By going thru the pre-approval process you will put yourself into a stronger negotiating position with the seller and be able to act quickly when that perfect home comes on the market.

For a detailed checklist on what you need to collect before making an appointment with your lender, call the Marker Miller Team today at 812-360-3863 or email us at homes@MarkerMillerTeam.com and we will help you prepare for that first meeting.

Lesa Miller
Marker Miller Team
812-360-3863
homes@MarkerMillerTeam.com

Selling Your Home in Eight Easy Steps in Bloomington, Indiana

Thu, 05 Jan 2012 09:44:44 -0800

How to Sell Your Home in Eight Easy Steps

I want to share with you today, how to get your home sold quickly. There are eight key points that will help you.

(1)    Clear out the house clutter.   This is so critical.   We live in a home for a long time and we just have things.   Or, as the late George Carlin said, “stuff.”   The new buyer is going to come in and we need to help them picture the home with their “stuff” in it. So, pack up all your things. You are moving anyway.   Clear out the home. Have clear spaces. Put all of your personal items away. Let the next person envision themselves in the home.

(2)    Clean your house and make it spotless. If you can, have a professional crew come in and scour the home, wash the windows, scrub the front door, wash the light switches and light fixtures, eliminate offensive odors and make sure the home is fresh, sparkling, shining and inviting.

(3)    Get your house in tip-top shape. Have a checklist of repairs that need to be done and complete them.   Ideally have your own home inspector come in and identify any issues.   Get these issues resolved as soon as possible to make your sale go as smoothly and quickly as possible. The home maintenance items need to be done.

(4)    Clean up your landscaping.   Trim the shrubs. Make sure the lawn is mowed and trimmed. That first impression will be their lasting impression.

(5)    Don’t forget the garage, attic and storage spaces.   We need to get those cleared out and let them see just how much storage space your home has to offer.

(6)    Identify the future buyer. We ask sellers, “why did you choose this home?”   It can be… I loved the schools…. I loved the view….I loved the location….I loved the floor plan, etc.   All these same things that you loved about this house will attract our next buyer.

(7)    Believe that your first offer is probably going to be your best offer so try to make it work.   When a home first comes on the market, we find that buyers are often waiting for their perfect home to come on the market and if it is yours they are going to make an offer. They may have been waiting for several months for just the right home. Don’t fall into the trap of thinking that because you got an offer the first week there must be a line of other buyers just waiting to come along and buy your home.   They may not be and unfortunately we have seen sellers fail to negotiate that first offer, their home lingers on the market for months without a buyer, gets stale and naturally this is going to have a detrimental effect on your price and quite often causes you to lose the house you wanted.   Don’t be seduced by the effect of having an offer early.
(8)    Hire the right agent.   Our team has combined experience of over 40 years.   We are in this for the long haul and our goal is always to get your home sold for top dollar in the market. Call the Marker Miller Team today at 812-360-3863 and see how we can help you thru this process and sell your home!

Lesa Miller, The Marker Miller Team    homes@MarkerMillerTeam.com

Money to Turn that Fixer-Upper into your Dream Home - Bloomington, Indiana

Wed, 04 Jan 2012 11:21:14 -0800

Many are unaware of this great program offered thru FHA. It is called the FHA Streamlined 203K and it permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before they move in. Not all repairs are permitted, but some major things like minor kitchen and bath remodels, new windows and doors, improvements for persons with disabilities, basement completion and waterproofing are, to name just a few. For more information, whether you are buying or selling, you can contact us and we will help you with properties that qualify and loan professionals that are familiar with this great product. CLICK HERE to reach us and begin your journey.

Rent to Own for Deserving Buyers in Mitchell Indiana

Wed, 04 Jan 2012 09:06:40 -0800

Rent to Own for Deserving Buyers in Mitchell Indiana. This ranch home has 4 bedrooms, 2 baths, hardwood floors, sun room and many updates. If you are looking to own, tired of paying rent and are not yet in a position to get traditional financing, call us today at 812-360-3863 and we can help. Looking for a tour of this home? You can take a look at Carpenter Drive in Mitchell Indiana. Stop throwing away rent money! Call today at 812-360-3863.