Fishers, IN

Here is what happened for real estate in Fishers Indiana for October 2009:

Well, considering the tax credit coming to an end; I expected to see a big increase in these numbers. I might be able to justify a decrease in the average sales price because the first time home buyer should be purchasing the less expensive homes on the market. However, I am shocked to see a decrease in the number of homes. Until this tax credit crunch is behind us, we really won’t be able to get a good grasp on the market.
If you are look to buy or sell a home, please visit our Fishers homes for sale website for more information. You may also want to look at our Fishers Indiana neighborhoods page or our real estate in Indianapolis website.

As I am writing this post, I have my HP Mini 2140 charging up and downloading any updates that it may need in preparation for Real Estate BarCamp Indianapolis tomorrow. I also have my iPhone plugged into iTunes to see if there are any apps that I might need updated and/or downloaded in preparation to endure this day long event.

I have had many individuals ask why I would subject myself to waking up at 4 AM, CST to make the 2-1/2 hour drive from my home in Chesterton Indiana all the way to Fishers Indiana where the event is to take place. That's a good question.

First of all, what is Real Estate BarCamp (aka. REBarCamp)? According to Andy Kaufman, the founder, RE BarCamp is...

"an ad-hoc gathering born from the desire for people to share and learn in an open environment. It is an intense event with discussions, demos, and interaction from attendees."

Nobody is paid to speak and all of the events are coordinated by volunteers and paid by sponsors. Consequently, people gravitate for the purposes of sharing what really works and not just the theory of what should work. I was fortunate to witness one of the larger RE BarCamp events when it was hosted in Chicago by the National Association of Realtors.

This leads me to my second and primary purpose of attending this event. Since the original concept of this event evolved from a technology gathering, most of what is discussed is the proper methods to integrate technology into the human experience of real estate.

In other words, how can we enhance the law of attraction through all things digital. Want to know more? Come join us on Monday, November 2nd, from 9 AM - 5 PM, EST. Can't make the event in person, follow the ongoing conversation on twitter.com with the search hash tag of #rebcindy.

Are You Ready for Real Estate BarCamp Indianapolis?

If you have a Fishers home for sale, you undoubtedly have talked about the commissions that will be paid. Whether they are justified or not is certainly a topic of controversy. I could take either side of that depending on who we are talking about as the Realtor.®

I think I'll talk about the expenses first and then give you some ideas on how to negotiate the commission. My time is worth something, to put a dollar amount on it would be difficult. But, there is time involved in scheduling stagers, photographers and sign installation. There is time involved in getting the listing on to MIBOR with profile sheets and numerous forms that need to be copied and entered as well as pictures and tours being loaded. There is time involved in following up with showings, securing various documents for the showing agent (i.e. disclosures, surveys, lead based paint, etc). There is a tremendous amount of time to get the transaction to the closing table, mostly in terms of talking with the appraiser if needed and certainly scheduling contractors for inspection issues.

I also pay for the consultation with the stager, staging (no furniture rental) and the professional photographer to shoot the pictures of the home.

I spend premium dollars with Trulia and Realtor.com as well as others that allow me to showcase your home with more pictures and better positioning. Most Realtors® can feed their listings to various sites, but it costs more to have the premium packages.

You pay for me networking abilities and negotiation skills. I am a more experienced Fishers Realtor® and also had a previous career that was highly visible allowing me to have a very large circle of influence. I typically can sell my own listings because I actively look for buyers for them! You pay me to set your home apart from the others and to get premium dollars. For 2009, I am getting 96% to list price!

This is a nice transition to how you might be able to receive a lower commission from me. If I do bring the buyer, I often will discount the commission. If you buy a home from me once we sell yours, I often will discount the commission. If you are a strong referrer, I will discount the commission. I have one teacher at Indian Creek who has brought me so much business that when it sells, it will be for free on the listing side. I will still have to pay for the agent who brings the buyer.

I hope that helps explain why the commission rate is what it is; contrary to popular belief it is not just for putting the sign in the yard. But, NOT all Realtors® work the same. Ask yours why they are worth their commission or better yet, hire me!

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

Cindy "in Indy" Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

As we approach the end of a terrific first time buying season in Fishers Indiana, I wanted to share some information from the IRS on the first time buyers credit.

As you know, unless it is renewed, it will cease to exist on transactions closing after 11/30/09 which means you would have to be under contract by 10/30/09 at the latest. There are a few short weeks, so hopefully this information will be useful if you or someone you know is almost ready to pull the trigger.

I work with many clients looking for a home for sale in Fishers that will fit their needs. These are some of the questions I have heard and the answers.

Q. Can a taxpayer claim the first-time homebuyer credit if the purchase is pursuant to a seller financing arrangement (for example, a contract for deed, installment land sale contract, or long-term land contract), and the seller retains legal title to secure the taxpayer's payment obligations?

A. If the taxpayer obtains the "benefits and burdens" of ownership of a residence in a seller financing arrangement, then the taxpayer can claim the credit even though the seller retains legal title. Factors that indicate that a taxpayer has the benefits and burdens of ownership include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.

Q. A taxpayer owned her principal residence. Several years ago, she decided to relocate to a rented apartment, but did not sell the former residence. Instead, she rented it out to tenants. Now the taxpayer plans to buy another house and make it her new principal residence. Does she qualify for the first-time homebuyer credit?

A. A taxpayer who owned rental property within the past three years is still eligible for the credit. The taxpayer cannot have owned and used a home as his or her principal residence within the last three years.

Q. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?

A. Yes. Taxpayer B is not a first-time homebuyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A's primary residence.

There are various other first time home buyers tax credit questions so please read the full report. I offer first time home buying classes every month at our Fishers office, you can register at our Fishers Real Estate website. I include a home inspector, a lender and then myself to help people understand the process of buying a home. Hope to meet you soon!

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

Cindy "in Indy" Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775

When relocating and buying a home for sale in Fishers, the average person can be overwhelmed with the number of great neighborhoods. How can a Fishers Reator® guide her clients without "Steering"? Steering in general means guiding buyers to a particular area based on the desire to keep the makeup of that neighborhood the same or intentionally change it. This isn't restricted to just ethnicity, but also demographically in terms of age or family make up. It is an illegal practice.

There are several tools we give to our buyers to help them discern if a neighborhood is right for them. The first thing I have to do though is listen. A buyer will give me a lot of informaton initially and I need to be able to figure out which pieces of informaton are most important in their search for a home.

For example, if a buyer has small children and wants a lot of children in their neighborhood I tell them to pay particular attention to the number of swingsets in the yards or to visit the home during school bus times.

If a buyer wants a social or active neighborhood, I ask them to drive by on a Saturday and see if people are out. For example in my neighborhood on a Saturday you would see moms walking babies in strollers, older people out for a stroll, a gazillion people walking their dogs and probably a few bikes or runners too.

If a buyer wants a neighborhood that is quiet, I might look at a low maintenance community that offers lawn care services for example. Looking at the amenities a neighborhood offers also might be useful, is their a playground and pool?

If a buyer is concerned about safety and is unfamiliar with our area, I ask them to visit familywatchdog.us to get specific crime statistics for the Fishers home they are interested in.

If a buyer wants a neighborhood with great resale, I pull the statistics for that neighborhood. For example I pull the average price per square foot for 2007, 2008 and 2009 and watch the trend. I look at days on market trending.

Lately, another statistic I am pulling for neighborhoods is the number of distressed properties (i.e. bank owned or foreclosure).

So, while I cannot "steer" people to a neighborhood of "my choice"; I can offer suggestions and data to help my buyers understand what is available that matches what is important to them. But again, it begins with listening. I'm all ears for you!

Search homes for sale in Fishers by Neighborhood

Other Northside Blogs (Carmel, Noblesville, and Geist)

Cindy "in Indy" Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775