What if My Appraisal Comes in Low (and Other Real Estate Nightmares)?

Having nightmares about real estate isn’t as uncommon as you may think.  For REALTORS®, dreams about real estate are common.

Given the current state of the real estate market, I would imagine nightmares about real estate among the general population are becoming more common.

I recently had a first time home buyer mention her nightly dreams about the purchase of an Indianapolis area home.  After losing out on two Broad Ripple properties for sale, she and her fiancé were becoming ever more anxious about finding the right place to call their first home.

In fact, the last property they missed out on sold to a buyer who offered TWENTY THOUSAND over list price!  That’s crazy!  I later learned it didn’t appraise at the final sales price and the contract between buyer and seller had to be completely re-negotiated.

In the midst of high emotionsfear of losing out on my dream home, trying to balance work and personal life with viewing properties before they sell, and coordinating the financial aspects of buying or selling a house the last thing I want to worry about is a bump in the road like a low appraisal.

This is where GREAT real estate expertise come into play in a major way.

Oh sure, you could hire a discount broker to help navigate you through buying or selling what is likely your biggest asset.  This is a great way to save money…or is it?

In real estate (like most things), you get what you pay for.  Being hell bent on saving a few thousand dollars could actually cost you more in the long run.  Here are things to consider when you need to buy or sell real estate:

 

 

  1. How many years of real estate experience does the agent have? hint: a highly seasoned agent isn’t always the best route and neither is a brand new agent

  2. What tools and resources are available to the agent? hint: the amount of support an agent receives from their office and Board of REALTORS® is directly connected to their success, which is directly connected to yoursuccess

  3. How proactive is the agent?  hint: the days of putting a sign in your yard, posting your listing on the local multiple listing service, and praying that someone brings a buyer were over a long time ago…it takes grit, persistence, strategy, and creative problem solving to buy and sell houses

  4. Do you have the right expectations of a real estate transaction in today’s market? hint: you don’t know what you don’t know; and an agent who is brave enough to set the right expectations for you up front (low appraisal, inspection issues, etc) is someone you want in your village

  5. How connected is the agent? hint: real estate agents know and work with a lot of people…too many to settle for someone who gives bad service…is your agent a connector?  Do they know how to coordinate the nuances of a real estate transaction from vetting out buyers for their listings to navigating through a low appraisal or inspection issues (side note: there is no “pass” or “fail” on a home inspection)   

Hiring the right agent for the job of buying or selling an Indianapolis area property is an important decision-one that can save you time, money, and….real estate nightmares.

My team offers FREE real estate consultations.  I offer a holistic approach to my client’s real estate goals, taking into consideration their time frame, lifestyle, and overall real estate goals now and in the future.  Let’s buy and sell Indianapolis area real estate together!

Call/text/email or comment below for a free, no obligation real estate consultation!

Happy buying and selling!

Posted on June 7, 2018 at 6:20 pm
Lisa Treadwell | Category: Uncategorized | Tagged , , , , , , , , , , , ,

How Century 21 is Putting the Real Estate Industry on Notice

Change agents unite!  I couldn’t be happier with the new relentless brand marketing our company, Century 21, has rolled out recently.  Now, more than ever, it is important to hire professionals who know the real estate industry, can succinctly navigate this new way of buying and selling real estate, and help their buyers and sellers successfully achieve their real estate goals.  The days of seeing a property online, scheduling a showing, viewing the property, then writing a Purchase Agreement and sending it to the list agent are over.  The days of discount brokerage firms are coming to an end, too.  Just like anything, you get what you pay for when you hire a real estate professional to list your property or to find you a new home to buy.

In the ever-changing, volatile world of real estate, it pays huge dividends to hire an experienced real estate professional-one who understands the market, who knows the industry Code of Ethics, has a good relationship with other industry professionals, and who is supported by a company that continuously educates and holds their agents and support teams accountable.

Knowing how to navigate the ins and outs of a real estate transaction is imperative.  Its so much more than just putting a sign in the yard, putting the property on the multiple listing service, and praying someone will sell it.  Interpersonal communication is key, too.  So is strategy and having a proactive mindset to get each deal done-from start to finish.

I love this Century 21 video, and am proud to be a part of a company who regards professionalism as the standard in the real estate industry.

Posted on May 7, 2018 at 6:14 pm
Lisa Treadwell | Category: Uncategorized | Tagged , , , , , , ,