September...And It's Time For The Talk

It's after Labor Day and that means like having 'the chat' with your (insert age here) year old about 'you know what', it's time for us to do the same. 

Summer has come and gone and in our area and that changes the game. We've had a very odd market this year in central Indiana.  Gang busters in April and for some market segments in May. Several price points were even very active past the July 4 holiday. Some, on the other hand, died a quick death the minute the calendar turned June.  Since that time a LOT of prospective buyers have marched around in circles and felt no urgency to make decisions since none of the homes they liked disappeared (read sold).  They kept thinking there would be more inventory, prices would change, blah blah blah. In any event...they didn't buy.

So here we are in September. It would be easy for me, much like the violinist on the Titanic, to tell you stay calm, all is well. If you want, if you MUST sell your home, you have some difficult decisions to make. It's this simple. If there were 100 potential buyers for your home in June/July/August, now there are 70. VERY soon there will be 45 and then by Thanksgiving there will be 20. With apologies to Rod Argent and the Zombies it truly is 'the time of the season.'  Hey....you're reading it from a former DJ and you get musical parallels.

So what to do?  Again...it's very simple. It's ALWAYS about price. I understand your hopes, dreams, beliefs, expectations et all were different from where things are today and I hate that for you. But it does me no good to lie about it. As I have said many times the price of housing truly is a 10th grade economics class. When the price (supply) meets the acceptable demand (what a buyer is willing to pay) your home sells. Given the time of year, your buyer pool (meaning demand) is going down. It will not be greater in October than where it is today. It will not be better in November than it is today. Price....Price....Price. Put all of the things you had hoped for in June out of your head.  Improve your price (from the buyer's view) and get it done. All you have to look forward to is paying for it as the temperatures fall and you're more ready than ever to be finished.
Greg Cooper top selling Indiana realtor agent broker   


Home Sellers....Time To Jump The Season!

As I post this Labor Day is upon us. While the official end of Summer is still weeks off, if you're selling your home the time is NOW to make the switch in your staging and present your home in full Fall decor. You don't have to reenact The Legend Of Sleepy Hollow with tipsy Uncle Earl on a horse, just make your home look like late September rather than late August. Jumping the season is fresh, ahead of the curve and catches people's attention when they have long tuned out end of season swim suit specials at the local department store.  Again...this is not about a complete overhaul of your decorating. Just a few well placed pieces will do and those will be invaluable in making your home stand out and remembered when your competitors are looking late Summer stale.
greg cooper top selling indiana realtor agent broker wthr weekend sunrise real estate update  


The Hardest Part Of Today's Home Sale....

This post is not sexy but if you're selling your home it may be the most important issue you will deal with leading up to your closing. There are about five bullet point headlines to a successful home sale. The home inspection has become one  of those key points. I know...I know....CRICKETS for many of you. Contemplating how you handle your home inspection is about as flashy as picking out ceiling tiles. It's hard. It's not fun. Yet with increasing regulation and consumer awareness navigating the inspection has become a secondary negotiation in EVERY sale. Mold, termites, bad composite siding, hail damaged roofs, questionable home inspectors and uninformed agents (did I just say that?) ALL make this process harder. There's a reasonable path to follow as you sell your property. Get an advocate, either a Broker or legal mind who is experienced and skilled at dealing with home inspections or you are completely at risk in the course of your sale. Not only does someone need to have knowledge at dealing with certain problems they also need to have resources to handle them. So you've got a little mold. That 'little' problem could be a $960 problem or a $3800 problem depending upon who you use to resolve it. Same for a hundred other issues that can come up with even the CLEANEST of homes. There are times in a real estate transaction having experience on your side is everything. The home inspection is one of those times. 
greg cooper top selling indiana realtor agent broker speaker author


The Changing Tides Of Home Values....

It's been a peculiar year for housing in all of central Indiana. April and early May were gangbusters and then by early June things had calmed considerably. It's been maddening for home sellers especially those beyond the most affordable price points....those in the executive level of properties. The market has been fickle. The sales numbers since roughly 6.15 have been down despite the lower available inventory. To go through an entire weekend or weekends if your home is for sale and not have viable showings seems like an impossibility and yet this Summer it's happened. Why? There are likely several subtle reasons, none of which are overwhelming which is also maddening. Mortgage rates have remained moderate. The inventory has been down. We are in the peak season. April and early May were nuts. So it begs the question again why? It almost doesn't matter by now. Here's what does matter. We're heading for Labor Day and if your home hasn't sold and you must get it sold it's likely about price. In 29 years of doing this it's always a tenth grade economics class. When the supply (price) of your home hits the point where someone is willing to pay the price you're asking, you sell. It's that simple. 'Well my home has X & Y and that one doesn't and mine should be worth THIS.'  Believe me I have done this long enough to understand how hard this is for homeowners to grasp and accept. Right now I am talking to DOZENS who have not sold and don't understand why. It's really much simpler than most of us make it. If you're getting good exposure and people aren't buying...they are not willing to pay the price you're asking. Houses are a lot like stocks in their values. They ebb and flow. It's not unusual for a home to be worth 3 or 4 percent less 90 days from when it was listed and sometimes there's not a specific identifiable reason for it. Think about that. 3 or 4 percent on a $300,000 home is $9,000 to $12,000. It sounds like a LOT of money and yet it's still just 3 or 4 percent. As a seller here's all you should focus on. If you need to get sold this season....you MUST get more aggressive in your price now. I'm not trying to be insensitive but I've seen too many Augusts turn into Novembers to not tell this like it is. Get your price right now or you will be having turkey in your current home. Don't try and rationalize it....just accept the fact that your 10th grade economics teacher was right. 
greg cooper top selling indiana realtor agent broker