I received a call from a prospective client.  She was very much involved with her bank over a short sale of her personal residence.  She had not made her payments for several months, because she was in a struggle with the bank to lower her interest rate.  Her house was upside down.  She was with another Realtor that was unable to help her, because he lacked the knowledge.  I have been a Realtor for a very long time, however, have not yet specialized in short sales.  I really wanted to help her.  I really wanted the listing.(you know! another feather in our cap) But, at the same time I did not want to put this lady thru another 6 months of limbo.  What to do...?  What to do...?  Maybe I could do it....but maybe was not good enough.  I took a self crash course last night on the internet, ... 07/31/2010

Wow, this process is not for the faint of heart!  I have a client who fell in love with a condo, we placed an offer, negotiated, and came to an agreement...We are all pleased as punch until her lender asks "Is the condo on the FHA Approved Condos List?"....This was my second Condo transaction of the year and I wasn't asked this question with the previous transaction so I was a bit baffled by what she meant. Google being my friend and all leads me to regulations that were passed earlier this year which require any condo being financed via FHA to be on this "FHA Approved Condos List".  Upon further research I find that the community is NOT on the list.... EEEK!...That's essentially the response I get from the majority of lenders.  Not many are familiar with the process and would prefer th... 07/29/2010

No Matter how seasoned you are, you feel "it".  Things just don't seem right?  So you are a veteran in this business and you still feel "it".  You tend to take "it" personally.  Your phone is not ringing off the hook.  No one wants to see houses. This is your last pending.(but you closed 5 transactions last month).  Still "it" is still there.  Oh Wow, maybe its that double dip recession they keep talking about.  Why did they stop the bailout?  How long will "it" last this time?  Yo get a little scared.  You call your title friends and ask "how is "it"?  You never call your competitors .  You think they are having good successwith "it".  A week has gone by and you start to take "it" personally.  What am I doing wrong?  Maybe I should get a new hairdo.  Maybe I sould change companies.  Ma... 07/28/2010

Jamie McMurry wins Brickyard 400!  The same Jamie McMurray who won the Daytona 500.  McMurray is one of three race car drivers to win both the Daytona 500 and the Brickyard 400 in the same year! Congrats to Jamie McMurray and his crew.   For all of you racing fans and visitors of Indianapolis, thank you, we appreciate you and hope to see you again.  If you frequent Indianapolis, IN because of racing, business or vacationing, it might be a benefit to buy a condo or home close by rather than stay in a hotel or motel annually. We work with many real estate investors and buying a second home or vacation home is a real estate investment. For additional information about buying or selling Indianapolis, IN real estate contact the SmithFitzgeraldTeam.  We have some terrific real estate deals!  ... 07/27/2010

There are a few sayings on my wall, that have been there for years.  One of them being, "if you have to eat a frog, ..swallow the biggest one first.  All of us have had problems looming at us every morning.  If you do not face problems in the real estate business, you are "not in the business" .  I have been a seeker of knowledge about this business forever.  I'[ve been to all of the seminars, Tommy Hopkins, Floyd wickman, and the like.  There are so many that I frankly do not remember.  I sent my two son in laws to the Tommy Hopkins boot camp, over 20 years ago.  From each seminar, I was able to take at least one idea away to implement into my business. How many times do we all put the hardest, most difficult, most scary, most impossible situation to the bottom of the pile.  That is wh... 07/23/2010

Then become a Realtor.  In addition to the normal ups and downs of everyday life, real estate can really add to your emotional roller coaster.  A good example of this is the following:  HIGHS                                                               LOWS YOU WRITE AN OFFER                                        ITS NOT ACCEPTED OFFER ACCEPTED                                              DIDN'T APPRAISE, BUYER NOT APPROVED, INSPECTION STINKS CLOSE TRANSACTION                                        BUYER BACKS OUT, BANK OUT OF MONEY,  Interest rates jump, New federal regulations, money is tight, mold, radon, and the list goes on and on.                        This is an everyday occurrence, for those of us who choose this profession.  Our lives are affected, in the same way our client... 07/23/2010

Local House Values Local House Values Find out the Value of Homes in Your Area, or what Homes have Sold for recently. Keeping an eye on the Real Estate Market these days can be critical in making informed decisions on Home Buying or Selling your Home. Fill out the form below to receive your personalized Housing Market Report! These report are real-time MLS market update and trend analysis overviews. They provide the most current sold data, active listings, inventory, and days on market counts in Your Area. 07/22/2010

      Its summertime, that special time of the year when residents and visitors spend plenty of time outdoors.  The summer brings many events, activities and things to do in Indianapolis, Indiana! The 80th Annual Marion Fair starts TODAY and for today only the admission is $1.00.  The fair runs from July 22 through July 31st and is located in Indianapolis IN.  The Marion County Fair has been around since 1930 is a not for profit corporation owned and operated by the Marion County Agricultural and 4-H Club Fair association, Inc.  Its a week filled activities for everyone! A calendar of events can be viewed on their website, MarionCountyFair.org as well as discount coupons.  Great food, entertainment, rides and a tribute to our troops makes for a fun family night or nights that is afford... 07/22/2010

The Indianapolis Motor Speedway opened in 1909.  In 1911 the first Indy 500 race took place. This weekend the Brickyard will be filled with race fans as well as well known NASCAR drivers.  "The term "Brickyard" is in reference to the nickname historically used for the Indianapolis Motor Speedwaybrick in 1909, and a one-yard strip of brick remains exposed the start/finish line" since 1910.  "Since the inaugural race, the Brickyard 400 has become NASCAR's most–attended event, drawing an estimated crowd of more than 250,000 fans annually. It also has become NASCAR's second highest paying race in dollars (behind the Daytona 500)."  - source wikipedia Some Familiar Faces will Be Participating at the Brickyard 400! Mark Martin Kasey Kahne Bobby Labonte  Denny Hamlin Tony Stewart Kyle Busch  B... 07/21/2010

Who doesn't love some Stephen Covey to get their business week started??   “Don't argue for other people's weaknesses. Don't argue for your own. When you make a mistake, admit it, correct it, and learn from it / immediately.”   Stephen Covey   This next quote makes me stop in my track every time I read it, hear it, come across it.  Check out some of Stephen Covey's CD's (number 2 or 3) or his his books and you will understand this more completely.  “We may be very busy, we may be very efficient, but we will also be truly effective only when we begin with the end in mind.” Stephen Covey If you stop and think about how your want your life to be at the end, envisioning say your 90th birthday and you look out at your friends and family and think back to what you have accomplished, what will... 07/19/2010

A reminder to Indiana home buyers regarding the Tax Credit Extension For those of you frustrated with the delay in getting your transactions closed who actually had a fully executed purchase agreement on or before April 30th, don't fret.  This year's tax credit has been extended to September 30th. After much debate and other efforts to extend the incentive, congress approved the extension in the Home Buyer Assistance and Improvement Act (H.R. 5623) on June 30th.  It was signed by the President on July 2nd. For those of you who were not able to find an Indianapolis home before the deadline, it's still an opportune time to buy.  Interest rates are still very low.  In many cases you can own for less than you can rent here in Indianapolis. 07/18/2010

If waterfront properties were the barometer of the housing market, we'd have a pretty impressive story to tell.  In the first six months of 2009, only three homes on Geist Reservoir were sold, compared with 22 in the first six months of 2010!  The most expensive waterfront property sold was on 113th street for $2,000,000 with over 11,000 total square feet and four fireplaces and five full baths.  It had been on the market for several years and started at $3,500,000. Feather Cove and the Intracoastal at Geist saw the most activity with three sales each so far in 2010.  Bridgewater, Admirals Pointe and Feather Bay also saw two sales each.  While most of these homes took more than 200 days to sell; there were a few that sold in less than a week!  Having the right Geist Realtor will make a ... 07/17/2010

Broad Ripple Village Real Estate Market Report Following is the market report for the area known as Broad Ripple Village as of July 15th 2010. First, I'd like to apologize for getting this data out so late in the month! June was an interesting month in that the number of closed transactions saw a dramatic decrease from the previous month and even the same month, previous year.  In May 23 transactions were closed. Even June 2009 closed 18 transactions, while only 9 were closed in June of this year.  This was a bit surprising considering the tax credit expiration (although the date to close was recently extended).  Another interesting trend is that the number of active listings jumped up by 25% to 80 listings currently on the market... UPDATED REMINDER: The extension of the Tax Credit fo... 07/15/2010

Don’t wait until the Sheriff is knocking on the door of your Indianapolis Real Estate.     There are many ways to lose your home but having the Sheriff show up at your door is the hardest. For owners who can’t afford to keep mortgage payments current any longer or are behind already on their mortgage, there are alternatives to bankruptcy or foreclosure. One of those options is called a "short sale." More than half of our listing inventory are Short Sales and Foreclosures. When lenders agree to do a short sale property on your home, it means the lender is accepting less than the total amount that is owing. It is at your lender/s discretion whether they accept to approve your home for an Indianapolis Short Sale listing, but it is worth a try! If you are considering buying or selling India... 07/13/2010

This is an old blog that I am reposting with some updates. With the decline in the housing markets, I felt it prudent to add to the list of items to watch for... Building a home can be a great experience...or a nightmare. As a local real estate agent I often see the long term effects of decisions made by people choosing to build a home. My past also includes 10 years as a new home sales consultant with both local and national builders. With this experience many of my clients build new homes with great success. With that in mind here are a few tips to help you should you decide to build:Have Representation: Hire an agent to represent you during the building process who has experience with builders. I know what you're thinking, of course I'll say that as an agent. However with 10 years ex... 07/12/2010

07/12/2010

As an Indianapolis Realtor, homeowner and HGTV enthusiast, I like to to know as much as I can about design trends. I was excited to learn recently that when it comes to kitchen flooring trends, wood is good. So is bamboo, cork, brick, and even cement! Updated flooring is usually a worthwhile and popular investment for homeowners, who should always know which trends are hot and which are not (vinyl!) before embarking on a home improvement project! A Timeless Classic Wood floors, for a time considered too high maintenance for the heavy traffic of a kitchen, are making a comeback. Actually, wood flooring has never really been out of style. That's because wood adds charm, value and comfort like few other surfaces can. It complements any décor and, if you go with solid wood flooring, it can ... 07/07/2010

    My business partner Pam and I work on numerous Indianapolis IN Short Sales.  If there is a tough Short Sale, my office comes to me to ask my thoughts or what would I do.  I help my broker out when one of his assistants occasionally gets stuck on a Short Sale. There is a lot to Indianapolis Short Sales and it changes constantly, and we have to roll with it and push forward on behalf of our clients. Last week one of my broker's Short Sales got hung up again.  It had been hung up once because the file kept being reassigned to negotiators.  In short, the file fell thru the cracks.  My broker's assistant Lisa and I pushed and pushed and finally got an approval. Now, we are a couple of days before closing and it turns out that the buyers agent forgot to turn in to us a name change in the ... 07/05/2010

We hear every day that you get what you pay for. Consumers apply this logic to many facets of their lives. If you need legal counsel or need to see a doctor, you are going to select based on their expertise, not on their hourly rate. We hire them because they can help us. We understand that the experts may charge more but in the long run will cost us less. We apply this logic to most things. So why don't we apply that same knowledge when selecting a realtor? Too often one of the first questions a seller asks is "What do you charge" or "what is your rate?". I think sellers ask the wrong questions because they don't know which questions to ask. So here they are...The list of interview questions you should be asking your agent: Why should we select you as our Realtor? What areas do you spe... 06/30/2010

  Life goes on. Despite the difficult economy, Americans are changing jobs, relocating, or moving to homes that better suit their current needs. For some Indianapolis homeowners faced with the prospect of a mandatory move and real estate that just won’t sell, becoming a landlord becomes the only option. Not the preferred option, in most cases, but an option nonetheless.  If you’re planning to rent out your home, consider the following tips and advice. Be Realistic Just because your mortgage payment is X amount, doesn’t mean you’ll cover all that in rent. A local Realtor can give you a good idea of how much your home should rent for by providing you with a list of comparable rentals in your area. Or, you can research newspaper advertisements and online resources yourself.  If you want to... 06/30/2010