3 Things Home Sellers Need to Know in Broad Ripple Indiana
Broad Ripple is one of the hottest and trendiest places in Indianapolis that is known for its quaint shops, hot night life, beautiful greenways, the Monon Trail, sidewalk cafes, art galleries, and of course, fabulous restaurants.
It is one of the hottest real estate markets in Indiana right now. Great houses are selling after being on the market for just a few days. However, just because it’s a hot spot, doesn’t mean that you can just list your house and expect multiple offers.
1. Bringing the Home up to Code
The majority of Broad Ripple homes were built in the early 1900’s, so needless to say almost every part of the house needs to be upgraded and brought up to today’s codes. Sellers sometimes overlook this since they have lived in the house for a long time, or it hasn’t been an issue to them. It will be to a buyer because it will be called out in the buyer’s inspection. The best thing to do is get an inspector or contractor to inspect your house and make sure it is up to code before you list it. The main items that typically need to be updated/replaced are: wiring and electrical, plumbing and termite damage.
2. Making Use of the Space (Stager)
Broad Ripple homes tend to be bungalows, a far cry from the new construction we see with the enormous closets, room sized master baths, and huge open great rooms. People who buy in Broad Ripple are buying for the atmosphere, neighborhood and vintage feel of the homes. Because the homes are smaller than some of the competitors in other areas of Indy, it is important that you make sure the space in the house is maximized, and that you are able to show that off to your potential buyers. A stager is the absolute best resource to do that. A stager costs about $150 for a consult, and using your own furniture and items, you can go from getting low ball offers from buyers to ‘see how low you will go’ to full price, multiple offers because they don’t want to lose out on the house. It is truly incredible and extremely important in the Broad Ripple Market.
3. Pricing it Right
You can do all of these things, but if your home is over-priced, it won’t sell. It is imperative that you get the pricing right. A Realtor will be able to help you with that, but make sure it is the right Realtor. Buyers are happy to pay market value, but they will not over-pay, and their lenders won’t let them. (If the home doesn’t appraise for the agreed purchase price, the lender won’t lend money for more than the appraisal amount.) Sellers also think they need to list high for negotiation purposes. That is a myth that just won’t quit.
These are just a few tips on what sellers need to know when listing in the Broad Ripple area. For more information or questions on a specific house, contact me on my website: www.VentureCityHomes.com.
Amy Siewe, CNE®