Oh, the Possibilities!!

This time of year tends to get us really revved up about all the possibilities spring and summer bring. In our industry it is busy season, which invites so many opportunities for meeting new clients, expanding our business, and reaching new levels of potential. We see a lot of those same feelings in community members in our city. This is the time of year people really get motivated to do something new, take on a challenge, maybe join a new group or get involved in a project, etc. The warm weather and longer days just breathe new life into all of us!

If you've been watching the news and reading the paper lately, you've surely seen all the improvements, potential projects, and challenges facing the Tri-State right now. We are living in Evansville during a very exciting time, and we have a lot to look forward to in terms of growth and change, we'd like to talk a bit about that today.

Here is just a sampling of the many projects that are on the horizon.


1. The IU School of Medicine Campus: This has been ongoing for a couple years now and many people are tired of hearing about it! However, over $25 million in funding has been approved by the state and the project is a "go" and still on track to open by 2017. The scope of the project has changed a bit and the schools involved will likely have to do some funding themselves, but overall this is a great win for downtown Evansville and the city as a whole.

2. Tropicana Land-Based Casino: Another big topic right now is the legislature and our governor approving land-based gaming. This would be huge for Evansville because that would allow Tropicana casino to build on land and get rid of the outdated riverboat. According to recent news articles, Tropicana has already purchased land and has preliminary plans for a multi-millon dollar land-based facility in the works. If this moves forward, plans are in place to move the LST ship closer to the the activity downtown. (By the way, if you haven't visited the LST museum, do it this summer! It's really fantastic and humbling to see what people in our city made for our WWII soldiers.)

3. The Convention Hotel: This is one project that has flip-flopped the most. We honestly don't know the status, but the latest news was that plans have been redone to reflect a smaller hotel that falls more in line with the budget the city is willing to set. Stay tuned! This project would be wonderful if it works out, and we hope it would bring bigger conventions and meetings to Evansville.

4. The Promenade: This huge development is designed as the only mixed-use, lifestyle center in the whole region. According to the website, it's going to be different from anything around. The first major store is Academy Sports & Outdoor, and the first set of The Shoppes at the Promenade are being leased right now. The developer is also working on luxury apartments. The goal of this development is that is will have great retail, beautiful design, and will be very walkable with a "mainstreet" feel. We hope they'll take some requests for what stores and restaurants to bring to our city!

While we enjoy looking back on where our city has been and what we have accomplished, we are inspired to look forward. It's important to remember that we have to change a bit to grow and might have to adjust the way we've always done things in the past. Just like we make adjustments in our real estate business as new technology and developments come along, our city leaders must do the same to continue building on what we have. We have every confidence that the Tri-State will continue to be a wonderful place to live and look forward to welcoming many new residents over the coming years!

Speaking of where we've been, let's look at some of the history of our fine city. We invite you to take this fun quiz about local history and see how you do!

https://www.onlinequizcreator.com/local-history/quiz-88643

How many did you get right?

What are your thoughts on these new developments and the bright future for the Tri-State?

Designing for Buyers: What do they want?

We always want our homes to look their best, whether we are just moving in, are settled and loving our home, or preparing a house to sell. All homeowners have also specific, unique tastes and want to reflect that in their home, so what looks "best" to some might not work for others. Admittedly, we are not all interior designers (though wouldn't that be fun?) so we look to HGTV, magazines, Houzz, Pinterest, and others' homes we admire for inspiration. 

We might research the biggest trends in decor and design accordingly, maybe even changing colors and accessories each year. If we can offer a bit of advice to all of you ambitious home designers, it would be a word of caution about following the "big trends" too closely, especially if you are not in your forever home. There are actually a few trends that can backfire when the time comes to sell your house. Especially in a market that is pretty traditional in terms of taste, be careful about individualizing your house too much or creating a space that would be very difficult for a potential buyer to see himself or herself in when it's time.

If  you know you'll one day sell your home, consider holding off on these choices that might turn buyers off.

Wondering what these specific trends are? Let us share a few with you! 

1. Boldly Painted Walls

Decorators often consider black, dark blue/purple or another bold paint color as the perfect backdrop to metallic accessories or appliances in modern home design.The reality is that people prefer the exterior and interior walls of a home to be neutral. Even though repainting is cheap and relatively easy to do, it’s still a pain and buyers might not want to bother. When decorating, your best bet is to stick to a calming hue for the walls and use accessories to provide pops of color. Some great neutrals right now are cream/off white, gray, greige (mix of gray & beige), soft green, and light blue.

2. Wallpaper

Bold, graphic patterns are increasingly being incorporated into interior design, most often in the form of wallpaper. But wallpaper, even if it’s only on one wall, is an extremely personal choice and time-consuming (and expensive!) to remove if it does not appeal to the buyer. Consider replacing wallpaper with a neutral paint for broader appeal. If you really want wallpaper in your home, there are actually a lot of tasteful, neutral papers that have great texture and are very current, like a nice grass cloth.

3. Lavish Light Fixtures

Because potential buyers want rooms that seem airy and bright, beware of installing a showpiece light fixture that is too modern or ornate. Fixtures should enhance your home, not steal the spotlight, and should be in the same style as the rest of the home. Finishes that are very popular with buyers right now are brushed nickel, antique bronze, and black wrought iron.

4. Glittering Gold

Designers may be mixing silver and gold to give homes a rich star quality, but it might be wise to change out fixtures if they have the wrong metallic sheen. Gold can give a home an outdated, 1980s feel, because that is when gold finishes were very popular. Switching out the faucet and door handles with a more appealing finish, such as brushed nickel, bronze, or chrome, is actually relatively inexpensive and can help make your home appear sleek and updated rather than out of style.

5. Converted Garages

Potential buyers want a covered parking space so that they have a safe place for their car, especially in areas where street parking is not allowed by an HOA or they have 2-3 vehicles in the family. Additionally, people often use their garage as storage space. If you convert your garage into a space tailored your specific needs, such as a workshop, or extra living area, it may not suit your potential buyers. 

6. Converted Bedrooms

Like with the garage, people want rooms built and used for their original purpose. If you’ve converted an unused bedroom to an office, walk-in closet, or a game room, make sure you can easily convert it back to a bedroom when you’re ready to sell. It might even help to stage the home as a bedroom when you are selling so buyers can see how furniture fits.

7. Carpets

While many designers love to experiment with the texture of different types of carpeting as it feels soft underfoot, the majority of home buyers prefer hardwood floors, at least in the main living areas of a home. People assume carpets trap dirt, germs and odors, and they don’t want to go through the hassle of steam cleaning their home before they can move in. Potential buyers also don’t want to spend time removing carpet to expose hardwood floors. If you like carpet, which many of us do, try to use one that is durable, easy to clean, and neutral.

8. Too Much Landscaping

The “outdoor living room” is all the rage, and you may be tempted to build out your backyard into a lavish wilderness of flowers. But potential buyers may be hesitant to buy a home with an overly landscaped property because they simply see a lot of maintenance that they might not want to take on. Focus on creating or maintaining a nice and neat outdoor space that people can enjoy without too much fuss. Opt for plants and flowers that don't require a lot of care to maintain and are easy to grow in this particular climate.

9. Pools and Hot Tubs

A pool may seem like a luxurious feature for some, but it can be a big turnoff for buyers. When a home has a pool, we typically see about 50% of buyers discount the property because of the extra maintenance. Pools are perceived to be expensive to maintain and potential safety hazards, especially for families with children. Above-ground pools are eyesores and can leave a dead spot in the backyard if removed. These sentiments extend to hot tubs, too. Many people see hot tubs as breeding grounds for bacteria, and they are not a feature easily removed from the deck or back yard. There are buyers that insist on having a pool; we simply want you to be aware that they are tough on resale value.

So what do you think? We would love to hear buyers' opinions and always welcome feedback. If your home features one or many items on this list, don't fret. This is simply to be used as a guide when you're updating and making changes, especially to sell. We always aim to get the most value from your home and these choices will help us do that.

A Little Hard Work Never Hurt Anybody!

We've mentioned (numerous times!) how much we love our jobs and this industry. Our sense of loyalty to our clients and responsibility to protect their best interests guides our decisions and actions throughout each transaction. We aim to act as professionals at all times and show respect for other agents and clients because we know they want the same for their side as well.

It is this service philosophy that has guided us at The Murphy Team, and over this past week, we have certainly been tested! A real estate transaction can be a roller coaster ride for both the agents and clients. That is why we stress client education and open communication -- it's the only way to keep everyone on the same page and informed about what is going on throughout the process. However, there are situations we just cannot plan for.

We had a closing a month or so ago after a pretty smooth transaction, and our buyer took possession of the home last week. This buyer discovered a couple items had been taken from the home that were to be included in the sale of the property. This buyer immediately contacted us and we got to work to find out what happened. We discovered quickly that the sellers and their agent were not on the same page, so we were determined to figure out how to take care of our client.

In the days that followed, after many phone calls back and forth, and some consultation with an attorney friend, we figured out a plan to fight for our client. Fortunately, we ended up reaching terms that both parties were satisfied with before escalating to legal action, and most importantly our client was thrilled with what we did. Admittedly, it was not easy and there were times we thought we would be out of luck; however, we didn't stop working for this client because we believed in our side, even when others said it wouldn't work out in our favor.

This was a big lesson for us, and it cemented our belief that we will work for our clients and not give up, whether it's negotiating a purchase agreement, inspection issues, or an unfortunate situation long after closing. We do not abandon our clients once the papers are signed, and last week was a great example of that loyalty.

We appreciated the professionalism shown by the agent on the other side of this situation as well. Although we worked through an unpleasant misunderstanding, we were happy to help and absolutely thrilled to tell our client we got the job done. This work cemented our belief that our client service philosophy fits not only our business model, but our personal beliefs as well. When you are a client of The Murphy Team, you can be confident that your best interests will be at the forefront, and you will be a top priority -- there's no other way to be represented, right?

So, please take 2 thoughts from this post:

1. If we run into issues throughout your real estate transaction, we will work through them together with your interest in mind. We will not quit working for you!
2. We love this business. Despite the difficulties and stress associated with real estate, it is our passion, and we will continue to remain ahead of the game in technology, marketing strategies, and negotiation techniques because we want to do our best for our clients.

Now that we've shared a bit about our jobs, what do you love about your job? What difficulties do you deal with as well? We would like to hear what professionals in other fields work with too!

An Easy Way to Make More Money Selling Your Home

Welcome back! We hope your week has been wonderful; it's been another great one for The Murphy Team as we are getting busier and busier with a new listing, appointments with brand new clients, and buyers! 

A few of the appointments are working with For Sale By Owner sellers. These are some of our favorite people to work with because they are typically very knowledgeable about their finances and wants/needs, plus they have done some research about selling their home so we always have lively conversations about the direction they want to go. We have a fantastic FSBO program to help these sellers with, and we are very supportive when they want to get started and try to sell on their own. Something we have discovered in the past couple years is that it's tough for these sellers, and they often end up requesting a listing appointment after some time.

Selling a home by owner requires not only time and marketing knowledge,  but money. Regardless of how one sells, there are costs such as freshening the home, cleaning, repairs based on inspection, closing costs, and the actual cost of moving. A real estate attorney is necessary as well in a FSBO transaction to ensure all documents have been filled out and filed properly.

With real estate commissions traditionally running around 6-7%, is it any wonder many people try to sell on their own to save up to $10,000 on a $180,000 home? (Technically sellers would only save about $5,000 because no agent is going to show the home without a buyer's agent commission of around 3%, so keep that in mind as well.)

Let us ask you this -- would you rather save $10,000 or make $25,000?

We ask because a lot of homeowners who sell themselves undervalue their home and neighborhood. It takes a professional agent to put together a complete market profile and evaluate the home. In fact, just this week Andrea met with a FSBO who has priced his home over $15,000 under what it should sell for. We want you to make money and get what you deserve from the sale of your home! That's an important facet of our job.

The numbers themselves are powerful. Now let's talk a bit about marketing.

How does a FSBO market? A yard sign.

If you want to sell your house, you have to know where the buyers are and how to reach them. An agent is the way to do  that. We recently saw a National Association of Realtors article that stated 88% of buyers used an agent to purchase a home in 2014. For sellers, an agent is the way to access thousands of potential buyers for the Multiple Listing Service (MLS). 

Here are a few other ways an agent helps sellers:

• Advising on home repairs or updates
• Pricing the home based on the latest market data
• Actively marketing the home to buyers
• Scheduling showings with potential buyers
• Negotiating to get the best price on the home
• Handling all the required paperwork (This is one of the most important. There is a lot of paperwork, including disclosures, contracts, inspections, lender documents, etc. These are legally binding, so you want trained eyes looking at these with you.)

So, while we see the merit in considering selling your house by owner, you're missing out on a lot of assistance, guidance, and opportunity. Would you rather save a little bit of money or make a lot? Find a agent you like and trust, and set up a meeting. The Murphy Team is always here to answer your questions and would be happy to sit down with you anytime! 

Home Show Weekend: We Can't Wait!

Hello! What a beautiful week we've had! Hope you all have had a chance to spend some time outside enjoying the sunshine and warm weather. We love it! This is perfect real estate weather.

We can only hope we have some nice days like this next weekend when the 2015 Home Show takes place. The 68th annual Home Show will be at The Old National Events Plaza (formerly The Centre) next Saturday, April 11 from 10 a.m. – 6 p.m. and Sunday, April 12 from 10 a.m. - 4 p.m.  There will be over 250 booths/displays, speakers, retailers, and entertainment. The Home Show is so much fun to walk through because it's filled with inspiration for building, remodeling, designing, landscaping, and more. Seriously, anything you want to focus on in your home or yard, you will find help from a booth at the show. 

The Home Show weekend is also well-known for the guest speakers who attend and do both stage presentations and meet-and-greets to offer advice to guests. This year's line up is fantastic. Here are a few of the stage presentations to look forward to, and you can check out the entire schedule on the Home Show website. From HGTV's Design Star Anne Rue, who will be presenting "Buying and Selling with Style" and "Get On Trend into Summer".

 From HGTV's Flipping the Block, Whitney and John Spinks will be presenting "Design Tips to Flip For" and "The Secrets to Become a DIY Guru". Whitney and John are also Evansville natives!

Nationally acclaimed design expert Brian Santos (he's been everywhere, including The Today Show), The Wall Wizard, will be presenting several topics including painting and decorating how-to's, faux finishing, and installing wall coverings. He is awesome! You don't want to miss his presentations. 

And of course we are excited to share that ERA First Advantage will be presenting The Top 10 Staging Tips compiled by local experts. Sellers, this one is for you!

The Home Show is always a great way to get some inspiration and tips for home improvements large and small. We always learn a few things about the latest trends and exciting new developments for all things home-related. If you don't want to sit for a presentation, you can always just walk through the booths at your leisure -- there is so much to look at! 

Have you been to the Home Show in years past? What are some of your favorite booths to check out each year? We hope to see you there next weekend!