A Little More Personal This Week

Greetings, friends! Andrea here. We had another blog post in the works for this week, but were compelled to change our minds due to an unexpected loss in my family on Monday. My husband, two boys and I had to say good-bye to our beloved dog, Jasper. We all know he will no longer feel any pain and can now run with all his friends in doggy Heaven whenever he wants, but that doesn't make the loss any easier. Jasper, like many of our pets, was a member of our family and was loyal to us for his 15 years. Like any loss of a loved one, it will take time to process and heal, and we hope you'll take an extra moment to hug or kiss your own pet in honor of our sweet Jasper.

This sad event got us thinking about how to pay tribute when we lose a family pet. We believe in honoring our animals and their years of love and loyalty, so how do we show that?

First, consider hosting a proper funeral or memorial for your pet. Keep it immediate family only for a private ceremony or invite close friends and family who knew the pet well and loved him or her almost as much as you. Share stories, photos, celebrate the time you got to share with your pet! Bury a toy or bone in the yard to commemorate the lifetime of your pet. It is not legal to actually bury your pet in your yard, but veterinary offices have cremation services that dignify your pet and return the ashes to you for proper good-byes. If you scatter or bury ashes in your yard, you can even lay an inscribed garden stone for him or her, especially if you live in your forever home and want to keep his or her spirit there in some way.

Another nice way to pay tribute to your pet is to donate to a local shelter or animal cause in his or her name. Animal shelters and humane societies truly do noble work, and they would be thrilled to receive a gift of any size in the name of a well-loved pet and it's family. When you're ready, maybe even consider volunteering at a local shelter. Being around animals is proven to lift your spirits and elevate your mood, so not only do you benefit from playing with cute dogs and cats who will absolutely relish in your attention, but you will be helping them too. You will help prevent them from getting depressed if their stay at the shelter is long, and you will also keep them well-socialized and affectionate so they can find their forever families!

Something small you can do is keep your pet's tags and make them into a holiday ornament so they can continue to celebrate with your family in spirit. You can include a picture or just their tags, but it will be a simple reminder for years to come of the happy holiday times you spent with your pet.

Thinking again about your home and yard, where your pet spent most of its time, we like the idea of planting a tree to honor your pet. This is a much more meaningful gesture if you're in your forever home, once again, so think carefully before you make the commitment. It might seem silly, but we would feel very emotional to leave a home after 5 or 6 years and leave the tree we planted for our dog. Just something to consider.

Finally, someday when your family is ready, consider adopting a new pet. There is nothing like having a furry friend to come home to each day who is always happy to see you and offers so much love and goofy antics to a home. We are obviously pet-lovers here at The Murphy Team, so this is only our opinion, but we just can't imagine a home without a pet!

Again, we thank you all for your extended sympathies to our family and all families who have gone through the same situation. We will take our time healing, allow ourselves time to grieve over losing our pet and pay tribute in the way we see fit. Our cats and dogs are not just animals, right?  We know that -- and eventually we might even welcome a new furry friend into our home.

Thank you for allowing us to share something so personal with you all. We truly feel like our clients and colleagues are like family, so your kind words and messages have really meant the world to my family.

Old School vs. Today's Real Estate

Hello and welcome back! We hope your week is off to a great start and you've all been able to enjoy the beautiful weather we've had the past few days. It's been great for business, and we are so excited spring is near and clients are really getting serious about their moves for this year.

In the midst of all our running around, we started thinking about how "easy" we have it compared to agents 20 years ago. As Realtors now, we certainly still face many challenges and obstacles, but we also have so many conveniences at our disposal to help us serve our clients and build our business.

For example, we no longer have to carry around multiple big folders filled with paper contracts. The biggest concern with those is losing an important document belonging to a client, especially when juggling several transactions! The Murphy Team uses a program called Cartavi to store scanned copies of all documents throughout a transaction. We know they are safe, and we know we can access them and print a new copy at any time using this program. It also makes the auditing process much more efficient when closing time arrives.

Another great advancement we enjoy is e-signing documents. We know our clients appreciate this as well! Years ago, Realtors and clients had to meet every time a document needed to be signed or initialed. Today we still sit down to sign some documents, but once a transaction is moving along we can scan and send contracts through Docusign, and our clients can open them via email and sign from their computer or smart phone--we can get business done even when clients are in another state! It is a wonderful asset for us, especially when we are doing business late in the evening or on weekends! We try to make the selling or buying process as easy as possible for our clients, and Docusign is crucial for that. This process also makes it more efficient to send documents to other agents working with us on transactions. We can meet tight deadlines and keep the process moving forward without waiting on agents to drive back and forth to acquire signatures or make necessary changes. 

What about the sorting process before we ever sign any purchase offer paperwork? How did buyers find houses 20 or 25 years ago? Agents had to reach out to other agents in their office to see what was on the market or look at posters put up in offices to advertise listings. Agents would then take buyers out to view 20-30 houses that met their criteria to see which ones they actually liked. There was no Realtor.com or online MLS system to view photos of homes and focus in on what buyers felt suited their taste. Today, we have a powerful MLS system that gives us up to 30 photos, tax information, square footage, sales history, and much more. This MLS system is not only helpful for buyers, but is an amazing tool for sellers because it allows their home, once listed, to be pushed out and accessed by all agents in this region. Homes gain more exposure and are more marketable because so many agents can send them to their clients to set up showings. Powerful marketing!

Speaking of marketing, we enjoy a few tools today that agents had never dreamed of in years past. This blog is one of our favorite ways to stay in touch with clients and share information. We also utilize video emails, social media, and fantastic graphics programs to create materials to share with clients. We are able to educate clients and reach them in so many ways today and feel very fortunate to be able to utilize so many wonderful tools to help buyers and sellers!

We are well aware there are agents who prefer "old school" ways of doing business that have worked for them for many years. We pay tribute to industry leaders who have paved the way for agents like us, but we also know that this business is fast-paced and client-focused. We are always thinking about how to work more efficiently for our clients, and new technologies and forward-thinking business practices are the tools that will allow us to provide our clients with top-notch service. So, when you are ready to buy or sell, think about the type of agent who will best represent you and offer you the most up-to-date services critical to a great real estate transaction.

What do you all think? Did anyone out there buy or sell a home at least 20 years ago? How has real estate changed from a client's perspective? We would love to hear from you!

Technology Trends: What will they think of next?

The recent launch of Apple's new product, the Apple Watch, has gotten us thinking high-tech this week. What do you all think of their new product? Would you take the plunge and buy for yourself or a loved one?

If a watch that might be smarter than you isn't exactly the right technology investment for you, check out some of the most current technology trends for the home. The products that are being developed and marketed right now are incredible, and although some come with a high price tag, many are actually affordable and could be very beneficial in your home!

First up is a product called Peep, which was developed by the company of the same name, and is essentially "caller ID" for your front door. It uses Bluetooth to take a picture of someone when they knock on your door and sends the picture to your phone. This product isn't out yet, but you can sign up and get a discounted rate when it's released. How cool is that for home security?

Next are home automation systems that are controlled by your voice. You can tell your home what to do just by talking to it like you're on the phone. Companies like Nest, Apple, and Nucleus have voice recognition systems that allow homeowners to do things like send messages to others in the house via intercom, turn lights on and off, and ensure the home is secure when owners are away. Eventually this technology is going to have other features added, and you'll be able to do basic house chores like preheat the oven, turn faucets on and off, or turn lights on or off.

Also on our favorite new high-tech home trends are smart appliances. You'll find in the coming year and beyond that simple refrigerators and washer/dryers are being replaced by products that have many unique features, sensors, and options that you had no idea existed! Another very cool product that we will be seeing more is high-tech thermostat systems. The most well-known company right now is Nest, with their trendy thermostat that learns your family's routines and takes great care to adjust your home's temperature in the most energy-efficient way possible. We actually know a few families who have put these in their homes, and they absolutely love them. Nest products are even programmable through your phone!

Finally, we hope you'll indulge us for this last one because it's not technically for the home, but it could be quite useful for a family on-the-go who might not be home together as much as they'd like. We came across an app called Life360, and it might be one of the most interesting apps we've ever seen. If you have teenagers, they will probably hate this because Life360 is a way for families to keep track of each other and check in very quickly and efficiently. There is a Places tab on the app that actually shows a map of where everyone in your private "circle" is at the current time. If someone leaves an area where they are supposed to stay, an alert is sent, and likewise if someone goes somewhere they shouldn't. Mixed feelings about being that nosy with your kids? Life360 can be used in a less-invasive way. Kids can keep tabs on their parents and know where they are if mom is running late for pick-up at soccer practice or dad is stuck in traffic on the way to a recital. This app is being marketed as a way for families to have peace of mind without sending numerous "where are you?" or "have you left yet?" texts.

What other high-tech gadgets have you come across lately? We are amazed and impressed with all the opportunities in front of us -- we just have to choose what best fits our lifestyles!

Have a great week!

Easy Real Estate Terms

Welcome back! We are choosing not to acknowledge the next round of winter weather that is predicted to hit tomorrow, and instead we are thinking ahead to what it shaping up to be a fantastic spring and summer real estate market. As we look forward to spring with its sunshine, warmth, and liveliness, we also look forward to many afternoons and evenings spent with clients touring houses and preparing their homes to sell. Spring is the perfect time to put your house on the market because everyone tends to come out of hibernation and gets excited to see what new inventory is on the market and also what new construction will be available from the Tri-State’s many talented builders.

This spring is a particularly great time to sell because inventory is still a bit low in the Evansville area and there are many buyers who are ready to purchase but can’t find what they want. The economy is looking good and the demand for homes is up; this is great for sellers because that means sales prices are up! So, if you are considering a move this year to downsize, upgrade, or buy your first home, now is the time!

If you take the plunge and decide to buy or sell, there are a few terms we think will be important for you to know. You will feel more comfortable if you know some of the lingo; plus, you will be quite impressive when you casually toss out terms like escrow and comparative market analysis when we meet with you.

Below are 10 helpful terms for you to know for your upcoming transaction:

1) Appraisal
An appraisal is an assessment done by a certified appraiser justifying the purchase price for a property. The appraisal is usually based on an analysis of comparable sales of similar homes nearby.

2) Commission

Commission refers to the money that is paid to real estate agents after the closing of the transaction. The commission is a percentage of the purchase price, and in Indiana this commission is paid by the seller. This is how real estate agents earn their money.

3) CMA (Comparative Market Analysis)

A CMA is a professional report that real estate agents give to their clients. The report is an analysis done on the values of similar homes in the neighborhood or area that have sold or that are for sale at the same time. This report helps give a realistic listing and selling price. An agent can recommend a list or purchase price to a client, but ultimately the client decides what number they feel comfortable with.

4) Earnest Money

Earnest money is a deposit made by the potential home buyer to show that he or she is serious about buying the home. They money is deposited into an escrow account, and when the transaction is finalized, the funds are put toward the buyer’s down payment. Depending on the home price, earnest money amounts typically range from $500-$2000.

5) Escrow

To place something in escrow means to place it in the hands of a third party until certain conditions are met. For example, earnest money deposits are put into escrow until they are delivered when the transaction is closed. Escrow is opened when the buyer and seller sign the purchase agreement.

6) Equity

Equity refers to a homeowner’s financial interest in a property. Equity is the difference between the market value of the home or property and the amount still owned on its mortgage and other liens. Basically, the more equity you have in your home, the more you "own" your home in a sense because you get closer and closer to paying off the mortgage.

7) Lien

A lien is a legal claim against a property that must be paid off if the property is sold. A mortgage is the most common type of lien since the lender has ownership of the property until the mortgage is paid off. When the lien is satisfied, the lender discharges it.

8) Real Estate Purchase Contract (Purchase Agreement)

The Real Estate Purchase Contract (often referred to as a Purchase Agreement) is a contract between parties for the purchase and sale of real estate. They are legally binding, in writing, and signed by both parties. We will go over this contract in detail with you at our initial meeting so you feel comfortable with it when we are ready to make an offer on a home or an offer is made on the home you're selling.

9) Short Sale vs. Bank Owned Home

When a homeowner defaults on his mortgage, the lender may allow the home to be sold in a short sale. This means that the bank has agreed to let the home be sold for less than what the current owner owes on the property. A bank-owned home is simply a home that has been foreclosed, but the lender has not agreed to sell the home for less than what is owed on it.

10) Under Contract

If a property is “under contract” it means that the seller has accepted a buyer’s offer to purchase the property. Generally, the buyer is given a time period in which the sale can be finalized. During this time period, the seller agrees to take the home off the market and the transaction is considered "pending".

Now, there won’t be a quiz for anything, but we hope these simple definitions will help you feel a little more informed and confident as you consider a venture in real estate. In the meantime, we will be thinking warm thoughts and looking forward to working with some great clients in the next few months!