Lori Todd

Although you might expect the real estate market to slow down during a crisis such as a pandemic, there are no signs of any slowing.  Interest rates are at an all-time low. Affordable Housing is nearly extinct.  And, there are fewer listings on the market while there are plenty of buyers searching to make a purchase.  Statistics show a decrease in sales but that is more to do with the lack of listings than the lack of activity.

Here locally, we are seeing multiple offers within hours. That sounds wonderful for Sellers but that means Buyers are forced to pay higher prices and must be prepared to write an offer on the spot. If Buyers decide to ‘think it over’, they will most likely miss out on the house.  Agents must be paying attention nearly every minute to the new listings and Buyers must be pre-approved and ready to write an appealing offer.

As we look ahead to the 4th quarter, we expect a bit of a slowdown as we get through the Elections but we believe the market will continue to be strong through 2021.

Have you thought about all the toxins in your house?  Cleaners, candles, carpets, dust, and allergens can cause toxins in your house.  Getting rid of toxins can be overwhelming and also very expensive.  You can start by taking one room at a time and making small changes.

Candles can be warm and inviting but they can also give off toxins. If you’d like some aromatherapy, consider diffusing essential oils instead of burning candles.  Cleaning a house is important but using natural products instead of chemicals can easily leave your home not only clean but also toxic-free.  Bathroom toiletries can also be quite toxic. Take a look at the products in make-up, deodorant and shampoo.

Learning to read labels and making product changes will lead to less toxins.

We have a lot of activity happening in our Sales Department!  Realtor Kaili Frye became a new mom and Realtor Lindsey Martin joined our team last month.  Kaili is a 3rd Generation Real Estate Broker and Lindsey has a Marketing Degree.  And, both are busy working the market to help their clients.  Are you looking for a Realtor?  Contact us to interview our team.

May & June flew by yet dragged on.  Our Office managed to mostly work from home although the Maintenance Department was busy in the office every day.  It’s been challenging for us just like it has been for everyone. It’s really still hard to fully comprehend what the pandemic has caused and how long we’ll feel the affects of Covid-19.

Our Sales & Leasing didn’t really miss a beat, though.  Due to our video recordings, we were able to continue leasing without scheduling in-person showings.  It’s really allowed us to look forward and improve our marketing so that we can continue this option for future leasing. Sales also continued strong during May & June as we have a housing shortage and low interest rates.

We’ll be busy in July with rental turnover season and plan to kick off some new marketing and announcements for the Sales Department.

Although our office building remains closed to the Public, our business is open and working remotely.  Like others, we are facing these new challenges and learning as we go.  We are doing what we can to help clients and customers keep the market in process while we implement new procedures and take all precautions to keep everyone safe.  The best thing we can do for our economy is practice social distancing and increasing good sanitary habits.

The real estate sales market has been very active, especially for vacant homes priced between $125K & $250K.  We have sold almost all of our listings and helping more Sellers with the preparations of listing their homes on the market for sale.  What better way of spending time safely at home than to be preparing your house to sell?!  We also have Buyers looking for the right home but inventory is low so people are struggling to find matching criteria.

Our Rental Department has been very busy.  Our advertising has played a huge role in our leasing efforts. We’ve even had some video tours for prospects to help with the leasing process during Covid-19 restrictions. We’ve leased several rentals directly from online photos, videos and secure application portal. Our Maintenance Department has also been very busy although we have postponed the non-urgent tasks.  Whatever your needs are, we’re available to assist you.  Call 812-331-7353 or email Info@CallChoiceRealty.com.

Just like many of you, we are muddling through the daily changes and interrupted life due to the coronavirus.  We are doing our best to market listings and restricting showings to those who are serious buyers showing no symptoms of illness. For Buyers in need of a home, this is a time that only serious buyers who need to secure a home immediately need to be touring houses. We have discontinued showing houses to buyers who are just in the research and browse phase.

Right now, we are also able to close the pending sales and we’re working with Inspectors and Appraisers so that every transaction can proceed and meet deadlines.

We are fortunate to have technology available that allows us to post photos and virtual tours on listings so that consumers can shop online during this unprecedented time in history.  These are tools that allow the real estate market to continue functioning and help reduce the impact on the economy.

First and most important tip….  PREP.

Properly preparing a house to put on the market can mean a full-price offer or a quick sale.  Many times, when sellers to get a quick offer, they think they priced the house too low. But, most times, quick offers mean the house was prepared for good presentation and priced accurately!

#2 Tip – Clean up the outside. You’ve heard of ‘Curb Appeal’.  It’s real!

#3 Tip – Fresh Paint. Painting the front door and all the main traffic areas can provide a fresh, clean appearance.

#4 Tip – De-clutter all the rooms, especially the closets. If your closets are too full, buyers will feel like there isn’t enough space for them either.

#5 Tip – Create a spa-like setting for the bathrooms.

#6 Tip – Make all the small, miscellaneous repairs. They can add up and end up creating more problems.

#7 Tip – Remove personal items. Although they can help create a ‘home’, they can be distracting.

#8 Tip – Pressure wash the exterior and clear away any overhanging tree limbs.

#9 Tip – Clean the mechanicals and keep all the surfaces clear.  A clean appearance reflects the care given to the house.

And, the 10th Tip we can share….. HIRE A REALTOR.  Don’t go it alone. Legal documents, marketing, negotiations, ownership transfer and all the steps along the way can be overwhelming, especially when you don’t know the process.

 

We recently had a prospect who got furious with us because we wouldn’t answer all of his questions.  He threatened to leave bad reviews on the internet and went on to call us names, and even went as far as contacting the property owner to report us.  Unfortunately, this young prospect was completely in the wrong and I’m sure our tenants will appreciate our stance. So I wanted to share his questions and explain why we couldn’t answer all of them. 

Does the current tenant live alone or is there a family living here?

What is the neighbors like and what do they do?

What is the neighborhood like?

Is there crime in the area?

Questions like these are actually illegal for Realtors to answer.  Outside of legal positions, we would NEVER disclose who our current tenants are for basic safety reasons. Not understanding or accepting the privacy of tenants is just disrespectful!  We did refer the prospect to the local police department who could provide reports on crime but this didn’t seem to satisfy him. He felt like we should answer the question directly but we don’t have that data as we, too, turn to the police department for information.  

Due to local, state and federal laws, agents cannot legally profile what ‘type’ of person lives in a building or offer to stereotype a neighborhood. This can be considered discrimination and/or  steering, both of which are illegal! Besides, we don’t make it a habit to drive around neighborhoods looking at people – we have plenty of other work and other things to care about! But, if a tenant or buyer cares about that, then they can spend time in the area to form their own conclusion.  

If questions like these are important to you, then please know that you need to do your own due diligence because agents will not violate laws, discriminate or stray from our Code of Ethics. 

Many sellers pull their homes off the market if not sold by December. That isn’t always the best decision. And, here’s why….

There is generally less inventory in December, January & February. That means for any buyer who is house-hunting during this time frame has less to choose from and if it is necessary for them to buy, they are willing to settle for less features and pay a higher price.

Also, in December, many people decorate for the holidays. Although a decorated house can feel a little cluttered, it also can feel full of warmth and love, another selling feature to capture buyers!

If you want to avoid the moving period during the holidays, that can easily be a negotiated term during the offer to purchase period. But, if you still want to pull the house off the market to avoid showings during Christmas, you should be prompt and prepared to get the house back on the market right after the New Year’s holiday. If the weather is mild, the Spring market starts in January, not in May so don’t miss the opportunity to sell during peak market conditions!

If asked which room would you want to remodel/update, most people will answer one of two rooms….. Kitchen or Bath. It just so happens that these two rooms also earn the highest return on investment and can provide the best impact on pricing a home for sale.

Avoid making remodeling mistakes if you plan to sell. By choosing traditional and neutral products, it’s best to stay away from trendy patterns that may become outdated too quickly. You should also think like the general buyer rather than personalize to your own taste if you tend to have unique preferences. Painting and choosing the right paint colors are important tasks to complete a remodel by giving a fresh, clean and crisp finish.

Rooms that have not been updated in the last 10 years are overdue! It may not sound like very long, but decorating and designs typically last no more than a decade.