April 20, 2012 by Lucinda Gallela
This single-location home tour features nine partially-furnished custom homes priced between $286,000 and $1.5 million. Visitors will discover distinctive home design elements such as private courtyards and other outdoor living trends while also learning about the latest in home energy saving products and building techniques.
January 26, 2010 by Lucinda Gallela
Indiana home sales and prices ended 2009 on a positive note, which may signal that the state’s housing market is poised to rebound in 2010.
According to figures released Monday by the Indiana Association of Realtors, home sales statewide rose 4.1 percent in December compared with the same month in 2008, while the median price of a house in Indiana climbed 11.2 percent during the same time frame.
That marks the third straight month home sales have increased, and the second consecutive month median prices have risen.
October 7, 2009 by Lucinda Gallela
New obstacle facing Seller’s is the Appraisal! As if the Seller, in a Buyer’s Market, does not have enough challenges; we are finding a trend that cannot be ignored. Appraisals are coming in below the negotiated sales price and throwing a wrench into the transaction at the last minute.
This year I had a home that was under contract for $440,000. The Seller felt they had given the home away at this price and was feeling that at least it would be over soon. However, when the appraisal came back at only $400,000 we were shocked. The Lender was not going to loan any more than the appraised value. So, now what do we do? Let the deal fall apart?
The solution in this situation was for the Seller to reduce the price another $20,000 and the buyer to bring an extra $20,000 to closing. The Seller felt they were held hostage at gun point and I did too. It was not fair. If the buyer is willing to pay this amount the home is clearly worth it. Right?!
They wanted to sell and figured if this deal fell apart it would likely be the same or worse scenario with a next offer.
I am aware of this same situation occurring throughout the city and nation. And I am aware of at least 2 Seller’s in the Village of West Clay who were held captive to low appraisals.
It is important to be aware of recent “Sold” homes in your immediate area to know what to expect from the appraisal. Appraisers are under pressure now to use only current comps. They must use homes sold in the last 6 months and preferably the last 3 months.
Using a local bank or lender for the financing is one good way to avoid this problem. The large National Lenders, such as Wells Fargo, are putting a lot of pressure on the appraisers to submit low appraisals. And a lot of times their appraisers do not really know the area and the true nuances of a particular neighborhood.
April 14, 2009 by Lucinda Gallela
March 10, 2009 by Lucinda Gallela
The average sales price for the VWC is $579,000. The average days on market was 149. The highest sale for the neighborhood was the Estridge Dream Home (my listing) and it sold for $2,550,000. The lowest sales price was $140,000.
January 3, 2009 by Lucinda Gallela
The Village of WestClay is located just north of Indianapolis, Indiana. As a resident of the Village of WestClay since 2003, I can personally share with you the unique reasons the Village (as we like to call it for short) is a great place to call home.
For my family it is more than just a neighborhood it is a dream come true. In fact, my father, Tom Huston, is the brains behind this Development. He and his business partner, George Sweet, and their Development Company, Brenwick, have been creating neighborhoods in Carmel and Hamilton County for over 30 years. But, it is my father’s passion for history and architecture that really made this neighborhood a reality.