Greater Lafayette Spring Real Estate Market Update

Greater Lafayette Spring Real Estate Market Update

The spring of 2020 is one that will never be forgotten! Greater Lafayette market has held steady despite the pandemic. Here are some stats for March and April 2020 compared to the same time periods in 2019 to give you a snapshot of what happened… Demand Due To Low Housing Supply A normal market is considered to have a 6-7 month supply of inventory to be considered balanced.  We have seen and experienced in Tippecanoe County that a shortage of inventory tends to keep home prices strong and has resulted in multiple offers and bidding wars.  Tight inventory is a main reason the ball is still in the sellers’ court. The inventory of existing homes for sale remains below the 6 months needed for a normal market and is only at a 1.7 month supply looking at April 2020. This means, there are not enough homes for sale to satisfy the number of buyers in our market. Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move. Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will...
Preparing Your Home For The Summer Market

Preparing Your Home For The Summer Market

Bored in the house during quarantine and thinking of selling this summer? There are several steps you can take before putting your home on the market to increase your chances of receiving a solid offer from a buyer. From cleaning and staging to repainting and depersonalizing, here is a list of things to do before you sell your Lafayette area home. 1. Depersonalize your home When selling a home, you want to strike the perfect balance between depersonalization and creating a warm, welcoming home. This means putting away the majority of framed photos, bulletin boards and personal items (think: photo albums, magazines, toys, equipment, awards, etc) throughout the home. Leave a few nice, framed photos around the house to make the home appear inviting and lived in. They say familiarity breeds contempt. It’s true — especially when it comes to your lived-in home. ⁣Rediscover your home’s charm without major renovations or breaking the bank.⁣ 2. Freshen up with paint Now’s the time to re-paint your home. Paint: Nothing can change the look and feel of a room like a coat of paint. It’ll take a little elbow grease, but it’s totally worth it.⁣ Start by painting over those bright orange and green walls with neutral colors. Stick to whites, light grays, light beiges, and “greige” wall colors. These shades will make your home appear bigger, brighter and more welcoming. Adding a fresh coat of paint to your home will also help cover the wall’s imperfections and convey a blank slate to potential buyers. Give your front door a facelift with a fresh coat of paint and a new wreath and doormat. ...
Virtual Home Selling Program

Virtual Home Selling Program

COVID-19 has us in quarantine to protect ourselves and the community from passing this nasty virus around, and we are all about social distancing to keeping Greater Lafayette, IN and beyond safe! While there might be some restrictions on our daily routine, the quarantine doesn’t have to stop you from progressing forward in your life! Many companies are moving business and meeting to online platforms, and the real estate market is one of those! Selling a home is still 100% possible during these unexpected days. In fact, homes are not only still selling, but they’re selling in minimal days with multiply offers. We’ve created a specialized program to sell your home without having to do a lot of “in person” visits.  We help buyers and sellers transact from the comfort of their own residence. HERE’S HOW IT WORKS: As you can see from this visual, every avenue of the home selling process can be moved to an online platform. Here are some more details. Virtual MeetingsVirtual Zoom meetings for listing presentationZoom is an online video conference tool that gives opportunity for groups to meet all over the world. We will “walk” you through setting up this free resource on your phone, tablet, or laptop. Then, we will “walk” through your home (literally) and the details of your home for the listing. We know all the right questions and things to look for to get the process moving! Experience gives us a leg up in this category. Virtual meeting productionsVirtual video productionWhen it comes to showing your home, we can organize online walk-throughs to keep safety our priority. We have...
Home Closing Checklist for Sellers

Home Closing Checklist for Sellers

When you finalize with a buyer on your home or vacate it to move, you’ll need to ensure you have completed everything you are supposed to—from negotiated terms to good seller etiquette. There are certain things that every responsible seller should do, and you can make sure you accomplish them all if you make a home-selling checklist. You may already have gathered all of the paperwork you need for closing day, but there are a few other tasks to handle before you get to the closing table. Secure Your Documents Retain all seller disclosures as well as the purchase contract and the closing statement. Ideally, your escrow officer or closing agent will hand you a complete package containing all these things at closing.Sometimes these documents get scattered. Do your best to keep them in one location, as you might need them again in case something happens. Clean the Entire House If you don’t have time to personally clean the home before leaving it, hire a professional cleaning service to do so. What makes a house clean enough is often a matter of opinion and personal preference. It’s not always necessary to shampoo the carpets, but it’s a nice touch. Clean the cabinets, refrigerators, and other appliances inside and out. Be sure to check inside drawers and cabinets. It doesn’t hurt to make your last impression on the buyer a good one with little touches like polishing sink fixtures. Leave your home the way you would like to find it if you were the buyer.  Turn Off All Switches Turn off all switches for lights and fans. Leave a note for the buyers with...
7 Resolutions For Your Home In the New Year

7 Resolutions For Your Home In the New Year

R E S O L U T I O N S You might have vowed to quit smoking, lose some weight, travel new places or spend some more time with your family. But what about your home – the place where you’ll spend most of your year? Below we present to you seven resolutions for your home this year, in the perfect spirit of new beginnings. They say home is where your heart is but a lovelier, better organized, and more comfortable place to live will surely work wonders. As we count down to 2020, we will share our favorite resolutions for your home. 1. Declutter your homeWhen your house is untidy and in chaos, it makes you feel overwhelmed, stressed, and frustrated. Your environment affects how you feel, therefore, tidying up and organizing your house may change the way you experience life. It’s easy to let this task be left undone, but if you’re intentional and schedule this as an appointment (even 20 minutes per day), you will feel more organized soon. Creating extra space for storage is another way to keep your home organized. With added space, you can store your possessions easily without your room looking untidy. So this year, how about making use of your imagination at creating a little more space in the most unimaginable places? If you still feel overwhelmed, we recommend you contact Angie King Oswalt with House Ready By Maplewood Designs, LLC and she will organize, declutter, take stuff to donate, etc for you! 2. Make Your House Safe and Sound Your home may look wonderful and it’s properly organized also. How about putting some efforts into making it safe as well?...
2020 Housing Forecast and Why You Should Sell Now

2020 Housing Forecast and Why You Should Sell Now

3D rendering of modern kitchen in a loft. While the thought of selling your Lafayette Indiana home during the winter months may dampen your holiday spirit, the season does have its advantages: winter buyers tend to be more serious and competition is less fierce with fewer homes being actively marketed.  If you are debating listing your home for sale within the next 6 months, keep in mind that the spring is when most other homeowners will decide to list their homes as well and listing your home this winter will ensure that you have the best exposure. Here are the reasons to sell your Lafayette Indiana home this winter and what’s predicted for the housing market in 2020… 1. Demand Due To Low Housing Supply Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move. Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The...