How Much Candor Do You Want?

There's a discussion I usually have early on in working with clients. It generally goes something like 'how truthful do you want me to be?'  The immediate response is almost always '100% all the time, tell us everything.'  A fair amount of the time they don't mean it. No they don't. If they fall in love with a home in the first four minutes and I have to tell them the high tension lines behind may be a slight deterrent to resale, they don't want to hear it. They want to hear those lines are no factor now or in the future so they can continue their romance with that little dream home. They don't want to hear about the six lane interstate, the office complex being built next year or the mobile home park that's under consideration for their future view. It's hard for most buyers to accept that their dream home could have a blemish and that blemish is why it seems like a LOT of home for the money. I suppose I'm a bit of a contrast there. Most agents prefer to just smile and be happy that their buyers are headed into home ownership bliss. Having done this for 28 years, I just can't do that. Buyers and sellers need ALL of the information to make the best decision. I've lost people over candor and I'm fine with that. One spouse or the other falls for a home and I was the bad guy who burst the bubble that the package wasn't perfect. Next thing you know they're not returning phone calls. No problem...if you want a rubber stamp they're $20 at Office Max. If you want an advocate who cares what you'll walk away with someday when you sell this investment worth hundreds of thousands of dollars, I'm your guy. At least then one of us will sleep at night knowing the right thing was done on behalf of those who have a lot to lose.  
greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods 46033, top selling carmel indiana realtor agent broker listing agent 

Who Says It's Easier?

I find it a bit funny. All of the gleeful almost giddy posts by some of my co Realtors. They're sharing the gospel according to SOLD which is that things are selling, all is well and that now annoyingly put is a 'really great time to buy a home.' They're doing that because for some it's an invitation to you to call them and 'so we can get the sign up at your home too!' I'll admit for timing, now has it's advantages - and it's big challenges. With interest rates hovering in the 3's and 4's, the financing aspect of buying is great. That doesn't down play the challenging appraisals that keep rearing their ugly heads, the lack of inventory which makes having a place to move TO problematic and oh by the way when someone pays full price for your home they want EVERY little thing fixed perfectly after the inspection. Is it easier? No. It's just faster with more issues. So why am I so cynical?  My industry swings wildly from chaos to opulence. I want us as a business to tell people the WHOLE truth and sometimes I think it's just 'the market is terrible' or 'what a great time to buy a home' which is a phrase I hate. This market is not for the faint of heart because of the speed at which it's moving. Consumers need ALL of the facts to know if they should jump in. 

These are good problems to have, admittedly. Homes selling at all was a problem two and three years ago and today there's plenty of actual selling. It's the where do you go once you accept a contract, pray the appraisal comes in all right and do we really have to fix all of that stuff from the inspection that's in our faces today. So what am I saying? Know what you're getting yourself into. Know that we're still appraising homes from Jan/Feb comparables in a red hot May market. Know that you need to have multiple choices of a destination because choice A isn't going to last long unless you tie it down. Know that even the most cared for homes can have inspection issues and that having set aside some cash for your home's issues will be important. Above all know that while it is better, it's still NOT easy. 
greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods, top selling Carmel indiana realtor real estate agent broker 

Why Appraisals Are Challenging Home Sales (STILL) - And What You Can Do About It

You probably thought we were beyond this. Going on five years after the crash most people presume that home appraisals have evened out and that they are no longer a threat to home sales. Uhhhh....not so fast my friends (thanks Coach Corso).  Appraisals are still rearing their ugly heads and for this moment in time here's why.  We're in a hot, somewhat seasonal market and appraisals are only a reflection of history. In other words the market wasn't as hot in January where comps are pulled by appraisers as it is now. In 60 days, more history will be on the books and things will get better but you had better hold on for April and May. We just had a $329,000 sale come in $2900 low....beyond stupid. Nothing should be that close. It either is or it isn't but under 1% is silly.

What can you do?  Be ready with comps that you think may apply having them in the home for appraisers when they come to visit. You also need a strong advocate in a real estate professional lobbying on your behalf along the way. Someone who knows the market and has the savvy to approach an appraiser ahead of time in a way that helps the process and doesn't seem like a sledgehammer. The politics can be tricky.  There's another route you can go to preempt an appraiser who doesn't know the area. Have your advocate ask them ahead of time how much experience they have in your area. Legally you can do that. Most people don't know but appraisers are chosen from an often statewide pool. Do you really want someone from Evansville doing your appraisal in Indianapolis who's not familiar with your area?  By the way thanks to Governor Cuomo of New York for that silliness in foisting it upon Fannie Mae and Freddie Mac several years ago. HE'S the one who gave us that system. There's nothing wrong with asking an appraiser ahead of time how many homes they've valued in your area. Do it politely and respectfully but DO IT. Getting to the closing table may depend upon it.  
greg cooper east carmel indiana homes for sale east carmel indiana neighborhoods top selling carmel indiana realtor agent broker 

Navigating A Hot Market. Two Words:

BE READY. If you aren't, you WILL miss out. The market we're in has a big issue. Lots of buyers and not enough homes to sell them. We have just over half of the inventory of available properties from a year ago in many areas and price points (the high end is still challenged). With interest rates at a ridiculous level, you must BE READY. Sellers this does apply to you as well because while there are buyers galore, they are still picky. They want what they want and if you're not on your game from staging to exterior prep and curb appeal you will get passed by. Buyers you need to get up to speed as quickly as possible when you make the decision to buy because it's all just moving too fast.  As a buyer you must know what you want, be familiar with the market by looking at as much inventory as possible.  When the right one comes along you probably won't have a week to think on it so if you haven't done your homework, don't have your financing secured to a preapproval letter or just aren't ready to make the leap, do yourself a favor. Stay home. This is not a market for the meek.  It's low inventory, low interest rate, high demand and moves fast.  Sellers and buyers...the time to contemplate was last January. Now is the time to get it done.  
greg cooper, east carmel indiana homes for sale 46033, east carmel indiana neighbhorhoods, top selling carmel indiana realtor real estate agent broker 

Dear Real Estate Professionals AND Homeowners: STOP TAKING YOUR OWN PICTURES!

It's hard to believe that with hundreds of thousands of dollars of an investment at stake that homeowners still tolerate photos of their homes that look like this. Garage half cut off, wrong sun position, spectacular wrap around porch nearly ignored... and on and on. The question is why?  Actually that's a simple answer. There are too many consumers who don't understand or appreciate that all marketing is NOT created equal. Would you hire an attorney to represent you on a legal matter worth a couple of hundred thousand dollars who did that on the cheap? Never. With the online impact of photos having anything less than the preeminent photographer in your area taking the pictures of your home and then using them correctly is outright foolish.  Your agent taking the pictures to represent your home is ALSO foolish.  They are not ever going to be as strong as the top photographer in your area. EVER. So quit using someone on the cheap! The quantity also matters. Do you realize that having less than the maximum number of pics also hurts your SEO?  It also hurts you in places like REALTOR.com's search results for your area as well. How many is the right number?  If you hire the right person to represent you they'll know. Let me offer a hint. It's not six crummy exterior photos with snow in them that your agent leaves there until June. Which platforms do you need to have what quantity of photos on?  When do you change the pictures and what rooms are most important? Is it important to have EVERY area of the home represented? 

The answers to these questions are why some homeowners reap thousands more from their properties than others who don't have it right.  The answers are not that hard but they do come from years of experience and trial and error....and someone who understands just how important listing photographs actually are. If you're selling and don't have that it's costing you money every day your home is out there. 
greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods 46033, top selling carmel indiana realtors, brokers agents. 

Death Of The 'Listing Presentation'

If you're a home seller who's considering putting your home on the market, fear not. The process of interviewing agents does not always lead to countless graphs, bad personal promotion or hearing about an agent's awards at the annual company meeting. There's a reason some in the service professions are achieving great success on behalf of their clients while others spend their days putting would be clients to sleep.  Probably 75% of the people in my business are focused on force feeding home sellers to be every - last - diagram and market analysis. They listen far less than they talk, focus on themselves rather than the homeowner and seem to be stuck in techniques originated when Ronald Regan was in office. 

Listening - a lost art. Engaging - a seemingly unknown skill. Designing - most agents only do it one way rather than catering an effort specifically to a client's needs. Here's a little secret for my profession. Mass commoditization is dead. A personal, niche oriented (read client oriented) effort now is not just a nice idea, but a mandatory path to true service.

What's the point of this post?  Somehow I've become very comfortable just going in and talking to people in their homes without the dog and pony show. I want to know that their son needs space in the basement because when they buy their next house he's not watching Dora on a 27 inch tank of a television but battling zombies on a 50 inch flat screen.  I want to know that  now as their second child has just gone to college they want space for their kids to come home to in a finished basement. A main floor master is paramount for their future. That big wooden play set in the back yard? How quickly can we trade that for an over sized three car garage? 

The summary is that as you may choose to make a transition in your life this year, consider how you choose representation that hears your needs for the future and designs a plan to help YOU get there. Do you really want to plan this change with a three inch stack of old home data or partnering with someone who will strategize to help reach your goals. Beware the excessive data and the countless line of self adulation realtors. If their 'presentation' feels like 1985, can their marketing efforts be far behind? greg cooper, east carmel indiana homes for sale 46033,  east carmel indiana neighborhoods, top selling carmel indiana realtor agent broker


Love 'Em, Hate 'Em...Either Way Just KNOW Them!

Home Owner's Associations are playing larger roles in our lives as the real estate crash has come and to a large degree, gone. If you're going to buy in any kind of development you'll want to know about the HOA, how they operate, what issues they deal with and what experiences the locals have had in dealing with them. Horror or Helper...know your HOA....coming Sunday morning after 9am on WTHR's Weekend Sunrise! 
greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods, top selling carmel indiana realtor agent broker 46033

Home Sellers On Red Bull

Apparently a little bit of good news has inspired some significant myopia in the market. Be careful home sellers. 

Several weeks ago I met with a couple about the possibility of listing their home in 45 to 60 days. They were thinking of downsizing, a popular sport these days. We actually had a great chat and they seemed pleased with some of the things that I shared with them about how I approach the process a bit differently. The home was nice with good updates. As we were finishing up Mrs. seller gave me a flyer from her 'for sale by owner' days. The list price on the sheet was 16% higher than the most expensive sale ever in her legally described area. She added 'well of course we'll have to raise the price if we list it.' Didn't everyone know that home buyers are willing to pay a seller over 20% more for a home because it's in the MLS/BLC? I smiled, took the flyer, thanked them as I left with the understanding that I would begin sending them information by email until they were ready to talk further. I wanted to say, but held my tongue, that things were better but that didn't change that we had to be priced competitively. I decided to save that and see how the conversation went and they were ready to go.

I sent the first email about a week later. We're in January and the sales numbers were thin....not a surprise.  Good or bad, I'm in favor of playing it straight and tell a seller the truth rather than what they want to hear. I'm too busy to try and bogus the info up to buy listings which my industry is infamous for. Mrs. Seller's response to the first email was 'WE WILL NOT SELL UNLESS WE GET OUR PRICE!' Now to be fair everyone wants their price but considering I sent the information in a positive vein and just said it was early, the market was slow, I was just passing on the information, the response was a bit odd.  I was starting to sense an issue. A week later I sent the next update. The sales news was about the same. Mrs. Seller's response this time? "Apparently you are missing some of the information because I'm getting sales from other agents that you are not sending me.'  Of course!!  I was busted!! She had figured out that I was intentionally not giving her good information in an attempt to win her business!!  Perhaps she thought I was incompetent and couldn't accurately search her area. Six letters searched her neighborhood and it was clear I was holding info back or just clueless. I did ask her politely to share which homes she had gotten from the OTHER agents that I hadn't given her. As you would guess, crickets. 

Having the privilege of working with a home seller or buyer is a great honor. I understand that selling a home requires a lot of things from a seller along the way. Going hand in hand is a motivation to sell along with accepting what the market will bear. Those two issues must be right in a seller's head or you can forget it. You will sell at the price the market is willing to bear or you are free to keep your home. You must make a rational judgement about values notwithstanding what some less than reputable agent is telling you. You must be willing to recognize and be willing to work through the inspection process in a compromising way or else you will keep your property. While I want to get every seller the most dollars possible, NOBODY else cares what you need as a price to sell. I've successfully helped thousands of people sell and buy homes who were very happy at day's end. I've also learned to recognize the signs coming from someone who will never be happy because they have expectations that are totally unreasonable. I'm fine with letting the next agent waste three months, get their butt chewed countless times and have their reputation smeared by a seller who never really was prepared to sell.  All I can say to those former prospective clients is, no thanks. greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods, top selling carmel indiana broker agent realtor 

Interviewing A Real Estate Broker Made Easy

When you choose someone to represent you in selling your home, the deeper you dig, the better feel you'll get for who's the right choice. Here are five points to make it easier.

1)   If a prospective agent says, ‘I did XXX million in sales in 2012 and have been in the Chancellor’s Club 7 years in a row,’ move on.  Look, I’m an ordained minister in the Universal Life Church (really, I am) but I don’t think you want me conducting your wedding. Designations mean little. Is this process about their awards or about the sale of your home? What’s your sense of how they’ll treat you?  How innovative are they? What are they doing differently?

2)   If an agent tells you….‘I’m the neighborhood specialist,’  their vision is VERY narrow and not totally honest. One agent virtually never has a majority of all of the sales in one neighborhood. What kind of sense does this person give you about who your competition is?  What do they say about other neighborhoods that are also direct comps to your home?  How will they market your home against those neighborhoods? ‘Neighborhood specialist’ usually means they don’t see the bigger picture.

3)   Ask the agent if they use a professional photographer. If they try and give you some nonsense about how great their camera is and how they really have a ‘bug’ for photography, dismiss them immediately.  Pictures are the single most important element of your marketing campaign. An agent who insists on taking their own pictures is doing it on the cheap. Non professional photographers simply don’t have the best equipment. Do you really want ‘on the cheap?’

4)   Ask the agent approximately how long it takes to get their pictures in the MLS/BLC after your listing is entered. If the answer is ‘usually within 24 hours,’ show them the door.  Thousands of web listing sites get their information from Realtor.com and your local MLS very quickly after a listing gets entered. Here’s a little secret most agents don’t know about that. Many of these sites make one pass of Realtor.com to gather new listing information and never come back. If your pictures aren’t uploaded immediately, some sites will never have them. Ever looked at a listing with no pictures?  I didn’t think so. They MUST go in within an hour of MLS/BLC entry. NO EXCEPTIONS or it can cost you money!

5)   ‘My team will be updating you as we move through the process.’  Let me translate this for you. They’re really telling you you’re not going to hear from that agent again until it’s time to get paid. You need to know that when things happen, THE AGENT will be calling or emailing you. THEY will be analyzing the market data. THEY will be sharing news about your home’s sale with you directly, good or bad. This is a transaction worth hundreds of thousands of dollars. Do you want to go through this just speaking to an assistant? greg cooper, top selling carmel indiana realtor agent broker, east carmel indiana homes for sale, east carmel indiana neighbhrooods 46033 

Inside Indiana Business Appearance

Post note: If you haven't seen this past weekend's appearance at Inside Indiana Business with Gerry Dick, you can check it out HERE. 

As for this weekend....be sure to check Greg out Sunday at 11 a.m. on 13 WTHR on Inside Indiana Business with Gerry Dick. Greg will be talking state of the market for housing in Indiana for 2013 and what consumers should expect!  Is there really a housing shortage? If you are elsewhere in Indiana you can see him on fifteen affiliates across the state. Yes, region friends, he'll be on up there too in Merrillvile's WYIN on Sunday morning at nine.  The remainder of the IIB schedule is HERE.  
greg cooper, top selling carmel indiana realtor agent broker, east carmel indiana homes for sale, east carmel indiana neighbhrooods 46033

If The Market's So Good, Why Isn't My Home Selling?

In our last post we discussed at length why many areas actually have a shortage of homes for sale, how available inventory is low and why some buyers can’t seem to find a home that fits them. If your home has been on the market for a period of time you’re probably reading that either frustrated or in disbelief. After posting on how we have a shortage of great homes for sale, we couldn’t let time go by without addressing the obvious other side of that. Why hasn’t my home sold yet? 

The simple, honest answer is that if your home has been for sale for some period, had showings and hasn’t sold, either in price or amenity level it simply hasn’t met the demands of the market.  I know we don’t want to hear that but that’s exactly what it comes down to.

A couple of years ago when we were in the trough of the recession, there were a lot of homes that were not going to sell no matter WHAT the price. There just wasn’t a market regardless of what some homeowners were asking for their properties. Those days are behind us. There are active buyers all over the place although it is true the some price points are busier than others. In the world we live in today, there’s a buyer for about every home. There are a few homes that are still requiring steep discounts because the numbers of buyers are small such as in the ultra high end market. But today, even they can sell if the price is right.

In the end, this is all still just 10^th grade economics. The market is the market. When a home is priced where it actually draws a written offer from a prospective buyer, that’s the tipping point to a sale. Not $20,000 higher or $13,000 lower. Buyers determine what they want to pay for homes. Sellers don’t want to accept those numbers in some cases but that doesn’t mean they’re going to the closing table either. So this gets us back to the original discussion. We DO in fact have a supply shortage of homes that precisely meet the demands of the market. Homes that aren’t selling simply haven’t found their market which is always determined by price. While that's not popular....it is today's market reality. greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods 46033, top selling carmel indiana realtor broker agent 

Why The Supply?

Don't recognize the house? Breaking news....this home is not in Indiana. It's cold here, it's crappy and this is all we've got for another 90 days. Live with it friends. I need a little warmth on this blog. 

There's a LOT of talk right now about how many homes are on the market or maybe how many homes AREN'T on the market. That's correct, after the titanic collapse from 2008 to '11 we actually now are seeing a scenario where there are less homes on the market than there were even a year ago. Some zip codes are down by as many as 20% fewer active homes for sale than in 2012. (Note..this weekend I'll be covering this topic state wide on Inside Indiana Business with Gerry Dick).  I cannot tell you how many people have called, tweeted, texted or begged me to tell them first when I get new listings across a number of Indianapolis geographies. Several have sold their homes months ago and couldn't find the right fit for them to buy. They aren't alone. They're a little tired of the temporary housing that has them living next door to AC/DC guy and his relentless tracking of their complete musical collection, usually after a night on the town. 

Why does this problem exist? Two reasons. First, there is trepidation. That's right, homeowners who were secure in their homes through the recession/depression are afraid of what their homes are worth and don't want to venture out into the big bad market place. Many of them are wrong but that doesn't change their fear. Whether that changes this year or not remains to be seen. Secondly, the bank owned properties are way down. That matters because without bank owned in the market there is less confusion about values and fewer choices which puts more pressure on other preexisting homes. This makes it very tough for some home buyers who simply cannot find a good match. 

So what's the immediate solution? Simple. As a buyer you must be ready to act. You need the immediate email notifications (or have a really wired in broker) about new listings and then you had better get there to see them THAT DAY. If the home is close, act now, not in 48 hours. Have your lender info ready, your goals defined and have a GREAT broker to advise you. Time is of the essence. You don't have the option of deliberating or the home will be gone if it's a cherry. Final note to home buyers. This Spring will be one of the most competitive in half a decade. Be ready to go or enjoy another post midnight tracking of Highway To Hell. 
greg cooper, east carmel indiana homes for sale, east carmel indiana neighbhroods 46033

Think All Marketing Is The Same? Think Again....

We've all read them. Hideous ads for homes that are written right from the book of Realtor cliches. "Three bedroom fixer upper...much more than a drive by...", etc. etc. Pick up a homes magazine (if you can find one) or go read the ads for the Sunday real estate pull out (if it still exists in your town). Those things may be the most unimaginative collections of crap you can buy next to the paperbacks on the end cap at the super market. 

Yet there are people out there, master marketers, that understand and are relying on their abilities as  master story tellers to make their way to unbelievable success. In the process their clients and customers are the unsuspecting (in most cases) beneficiaries of a lost art that is the difference today between a select few marketing artists and the rest of the herd. For those people who are selling their homes and reading this....have you actually gone online and looked at what's being said about your home? I'm talking about the message. What does your message say and does it in any way stand out to the degree when someone reads it they HAVE to see your home? We've all heard the line 'whoever has the best toys, wins.'  In marketing, 'whoever tells the best story wins.'  Take a look at this ad and tell me you're not intrigued. 

"Come give this mule a kick & see if you can make it move! Avondale/Logan Square home that's been neglected beyond words needs someone willing to fix it up or tear it down and start all over again. If you act fast I'll even throw in the fire bombed pick up truck in the back yard. .. Now that's a deal! On the upside the seller is motivated, 37.5' wide lot, huge profit potential, private owner, close fast."  

Oh...and the broker's name is Michael Kevorkian.  Now most of us don't want our home marketed in quite that vein but think about the affect on someone reading it. They going to be curious. They're going to take 15 seconds to find out more even if they have no interest. Words still have power. Content is (ugghhh the cliche) still KING. If you're going to put your home up for sale in 2013 make sure you find a storyteller. Make sure you find a MASTER storyteller because in this era the consumer's BS radar is flying so high you'll only get one chance to get their attention. Make that opportunity work for you.
greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods 46033

What Kind Of Place Is This?

There are questions that I get with a lot of regularity from people who are moving into the area. 'How often do you get hit by tornadoes (me...never), what's the best thing about Indianapolis (the people), what's the worst thing about Indy (January and February). 

One thing I can say factually is that Indianapolis rarely meets the expectations of people from the coasts or out of the country. It exceeds them. When we helped a large group of people move here from near San Francisco two to three years ago, to a person they were stunned at how pleasant it was and that we weren't simply one big cornfield. One of those people, John, was 53 years old and had never owned a home....until he moved here. For him it was a dream answered. I picked one family up at the airport and we went to look at homes in Brownsburg. The first property we went in was about $300,000. It was five minutes from where their kids would go to school. We walked up the front sidewalk and as the wife entered the home, she stopped and sobbed. In California $300,000 got them 1400 square feet on a 90 x 60 lot. Here they would buy 3700 square feet on four tenths of an acre. It was 90 minutes one way to her husband's work near San Fran.  Here, he would be a 17 minute drive.  He had never seen one of their kids plays or sporting events.  Here in Indiana, he'd be able to be a part of all of it. Their entire lives were changing and they had no idea until that moment how much better their quality of life would be. 

It's not just about economics, though. It truly is those who live here. In Indiana it's about people who rush into the flames and chaos on a dark November night to rescue their neighbors after a gas explosion in Richmond Hill. It's about hundreds of people who ran towards danger to help as tens of thousands of pounds of steel scaffolding came crashing down, trapping dozens of their fellow concert goers at the State Fair grounds. It's also about a community who raised tens and tens of thousands of dollars to support their fellow Hoosiers with cancer when a football coach is stricken. I once told a client moving here that we're 'embarrassingly polite.' Being from New York he just looked at me with a blank stare.  Now, 17 months after his move here, he understands. Two weeks after his family moved to Indiana, the family dog was struck near their home. They got a call from a neighbor who had seen it happen, scooped up the injured animal and not knowing who it belonged to called them from the phone number on 'Bailey's' tags as he drove their pet to the animal ER. The dog survived. It is a perfect place? Hardly. We don't have sprawling beaches (although we do have Beech Grove). But it is an environment that gives you a sense of being from somewhere that matters. Not for it's physical grandeur, but for what's in the hearts of many who reside here. Naive homerism? Perhaps....but the facts do speak for themselves. Those facts are pretty clear that quality of life is more than simple outdoor temps and national seashore miles. Here....that axiom is actually true. 
greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods, top selling indiana realtor broker agent 

The End - PART 2

We went through the early part of 2010 with a charade of frauds trying to buy Indiana's highest profile property.  Religious groups standing at the front gate praying for a miracle like spinners at a Grateful Dead concert, people who claimed they had actually bought it climbing the fence and running wild across the grounds until the police tracked them down and some type of non denominational church who actually wanted us to give it to them. I always wondered how they would pay the taxes if they didn't even have a down payment. 

In June of 2010 we met with Conseco management in Carmel and made a presentation for a sealed bids auction. We would launch the marketing just after the 4th of July and bring it to a head at Labor Day. We advertised it across the country and got some pretty interesting inquiries. Several times I walked into the office to open a check for couple of hundred thousand dollars from someone who had never even seen the property. Yes, we sent them back. At one point we had gotten a call on my partner, Dick Richwine's cell phone. The message was really unintelligible and the number was blocked. We couldn't call them back.  Three days later the call came again. This time the number wasn't blocked but we still couldn't hear the message through the static. Dick gave me the contact and I called this person, whoever it was.  I entered the number in my phone and as soon as it started ringing, I was stunned. The name on my phone that appeared when it rang was Forrest Lucas. He had given his cell a year and half earlier and I had saved it in my google contacts. I didn't know who I was calling at first, but it led to a second viewing of the property for the Lucas group. 

The auction came down to three parties. One group out of Tennessee claimed to have a relationship with the wife of a very famous Colt's quarterback. They said they were representing her interests but no, we didn't have verification of that. They had money and that's all we cared about. If they were going to plant marijuana up the main drive after the closing, well, that wasn't our problem.  Our last showing was to Forrest and Charlotte. After we spent a couple of hours looking at everything we all sat around the patio of the guest house that you see near 116th. Mr. Lucas looked at me and said, 'Greg, I'm told I could buy a commercial for the upcoming Super Bowl in Indianapolis for three million dollars....or I could use that money to try and buy this property. Which do you think I should do.'  I'm not exactly sure what I said. I was stammering around for about 15 seconds until I looked up and realized everyone was laughing. From that moment on until the press conference announcing the sale (the picture at the top of this page), it was a normal real estate transaction. It was the ONLY time this process was normal. The closing happened the first week of October of 2010. I've told people before...when this process ended, I was actually depressed. It was like a huge emotional roller coaster had ended and I couldn't let it go. During the time we had this estate listed it was if we had TWO full time jobs (during the worst real estate crisis in 50 years, by the way). Now it was over. An exhausting, financially draining, endlessly demanding journey was done. I still get asked over and over. Would you do it again?  To this day, I have no idea. greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods, top selling carmel indiana realtor, broker agent 

Beginning Of The End PART 1

While it took until Oct. of 2010 to close on all of this, the end came into view in December of 2008 in selling Indiana's Highest Profile property. Long before the press conference to announce the sale we quietly got a phone call and went to show the property to Forrest and Charlotte Lucas. It was just under two years before they would become the eventual owner. At that time the property was listed at 10 million dollars. 

Now this wasn't a chance meeting. I had been doggedly sending information about the mansion to all kinds of people who may be a good fit and the Lucas family was on the list. I pestered them in Corydon and I pestered them in Corona. Finally....it paid off. I'd be remiss if I didn't say that central Indiana is incredibly fortunate to have the Lucas family as an asset and resource. Forrest and Charlotte are two of the nicer people you'd ever meet who seem to have a real passion for this state. I firmly believe they will give a tremendous amount back in the years ahead through their ownership of the mansion now formally called The Lucas Estate.  

It was late morning on December 8, 2010 when I met them at the front gate of the property. It was drizzling and freezing rain on us then and wasn't a great day to see it but that was the day it had to be done. There were seven or eight of us who walked the property from Forrest and Charlotte to several of their employees and finally their attorneys. Unlike some showings it was casual and relaxed and the conversation was positive (you have to understand during some showings I got questioned on EVERY piece of information I shared which made for a long three hours).  As we walked they talked about having a vision for the property, what types of things it could potentially be used for and the individual aspects of the entire estate. It ended positively with us being told they'd let us know. We weren't really sure and we'd had so many showings similar we didn't think it would progress. It was quiet on their front for 16 months. Things were about to change for us in the bigger picture and a path to finishing this project was on the horizon. 

This mansion actually got sold because of a change in management at then Conseco, now CNO. We had been managed by a special projects manager who we've referred to as Mr. Big for the first three and a half years. In 2009 he was replaced and the company took a more hands on approach. As a side note, when Mr. Big was phased out, it was clear to us, no experts on it all, that a struggling Conseco was heading in a different, better path. They had been paying $500,000 plus a year to hold this mansion and no one questioned ANYTHING about how it was being handled (poorly by the way). When the campus took a more hands on approach we finally felt we had a fighting chance to sell it. Prior to that, not so much. The newer management called us, asked a lot of questions about the process and asked us how to end this. We told them in the short term to reduce the price from $10M to $7M and if we went through the Spring with no sale we would need to head towards some type of sealed bids auction. To the company's credit, they listened and were tremendously supportive. They wanted it done. We didn't know it but after 40 months of getting chewed out every 30 days on why we hadn't sold it, we were less than two years from a closing. greg cooper, east carmel indiana homes for sale, east carmel indiana neighborhoods, top selling carmel indiana broker agent realtor

Mortgage Interest Deduction Survives - For Now

I'll admit it....I'm shocked.  Of course the fight is always a battle in process but I for one did NOT think the mortgage interest deduction would survive the fiscal cliff negotiations.  I also am a realist. Since the thirst for revenue is never ending I suppose that there are going to be discussions in the future about how much or if a home's mortgage will be tax deductible. No matter....for now the overall dynamic of the housing market will not be changed by the loss of some or all of the mortgage interest from the taxes of consumers. If any or all of that deduction were eliminated there would be an immediate impact in the values of homes not only in Indiana but across the country. True it is highly beneficial for those who own bigger homes but if suddenly it cost any of us thousands more to own a home we'd think twice about how that affected our finances. It would also cause many to think about ever moving up and so many others to think about purchasing at all. So what? We'll reduce the demand for owned housing by 30% as an example and what do you think happens to the value of our homes?  That's right....crap city, in SO many ways. Considering that housing is worth roughly 21% of our national economy do we really want it heading in the spiral towards the bottom of the porcelain.  Perhaps that's what law makers considered. Right. Those fools couldn't find the porcelain with both hands let alone know how to use it. For those who own homes let's just consider ourselves lucky for now....and see what greedy hands do on housing in the months and years ahead. 
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Don't Fear The Fiscal Cliff....Yet

I don't want to hear one more talking head, see one more head line or by some quirk of chance have it seep out of my XM radio. Attention all media and politicians. Just shut up about the fiscal cliff until you've got this fixed. Why? Because it's not going to matter in the short term (30-45 days) and you guys will have all panicked enough by then to get this behind us. So as consumers should YOU be worried?  Not yet. Even if we do go past 1/1 as it appears we will, it would take some measure of time before we see a real difference in our local housing market. It doesn't appear that it will affect mortgage rates and that and jobs are the two biggest drivers of the housing industry. Bar either of those changing immediately, don't worry, be happy. You could even whistle a little tune. The POLS will get it solved and whatever the answer is will not change any of our lives in the next six months or longer. So RELAX and enjoy your holiday. Savor a moment of serenity if you can before we get back into the rat race in January. Most importantly don't hesitate to use the mute button on your flat screens when one of the talking heads or political leaders come on to spin because you know what? After what we've been through since Friday 12/14, the rest of this talk is just white noise that will get fixed in the new year.
greg cooper, east carmel indiana homes for sale 46033, east carmel indiana neighborhoods, east carmel indiana realtors agents brokers 

For The Love Of Barbara Corcoran....Consumers....MAKE BETTER CHOICES

I've kept my mouth shut in most of the real estate up turn over the past few years but since I'd rather blow a page count than an artery, I've got to let it out.  

We're starting to do the same stupid things we did to get us in the mess we've been trying to recover from.

Oh yes we are and it's really pissing me off. No, not just zero down mortgages or or other types of risky financing that we thought were gone (and they're not). This one goes back on the consumer. I hate to say it but you have got to MAKE BETTER CHOICES. I'm not talking about the blue frieze versus the taupe frieze carpet. I'm talking much bigger, elephant in the room types of mistakes that you should have never made. Didn't have a Realtor, attorney or nosey Uncle Rex tell you that these things were a mistake? Then you picked the wrong damn person to help you. Sorry for the blunt language but I'm worn out about people making terrible choices and then blaming somebody else. One of the reasons I'm irritated? I'm going to get the call to sell that house backed up to the six lane interstate or the house that has a one car garage at $260,000 or has one bedroom on the main level and three in the basement. Here's what happens when I do: I get yelled at for telling them the truth. You shouldn't have bought that house with the freaking nuclear power plant out back to begin with. I know these are extreme examples and yes my approach here has been over the top for a reason. I don't want people to invest their money badly and sometimes these issues are not that hard. We let the pretty sell past our common sense. 

Recent headlines have been mainly positive about housing and while that is true to an extent, it doesn't mean every home purchase is a good one or that every house is going to rise in value. What if the market tanks again someday? That will mean that only the people who made the best decisions will see a minimal loss or perhaps stay equal. The people who bought the problem location or the quirky floor plan or aberrational amenity list are going to get KILLED and there's no reason for that IF you make - better - decisions. 

The examples are countless that I've personally seen.  I'm showing an engaged bachelor homes in a PRIME resale location, one of the hottest in the area. It would be a SPECTACULAR resale purchase for them to sell in a few years as they start a family. His fiance, who's obviously a financial genius, convinces him to make a terrible decision somewhere else because her 'new to the business' sorority sister told her what she wanted to hear. You're screwed buddy. In five years that place will be worth exactly what you paid for it. If you're lucky. Frankly I couldn't be more relieved to be away from that transaction. 

Then there's a new construction development where consumers are marching into the model with no representation (because they always know better than someone who has sold hundreds of houses). They're plunking their $850,000 down on a property that looks pretty but is going to be totally NON COMPETITIVE in five years in their marketplace when Lilly calls and says it's time to transfer to San Francisco. Had they asked for an outside opinion the right person would have cautioned them about the issues. Instead they very well could be upside down and angry at their listing Realtor because they made a stupid choice in 2012 or '13.  

Here's the summary. Housing IS better and can not only be a tremendous part of our quality of life but also a nice investment in so many cases.  In my humble opinion you should only be buying a home if you have GREAT representation, meaning someone who tells you the absolute, educated, unselfish truth. Oh..and then you have to LISTEN to them. Otherwise be prepared to hear it in five years when you call me. Frankly I'd really rather not give any more of THAT news than I have to. greg cooper, top selling carmel indiana realtor broker agent, east carmel indiana neighborhoods, east carmel indiana homes for sale 46033 

Prince Howard Rockefeller Hughes Returns

One of the more entertaining stories about the people who we came across while we were selling Indiana's highest profile property was a Jim Morrison look alike who told us over and over he was Howard Hughes' nephew complete with full access to the family fortune. He phone stalked us for weeks and finally showed up at our office in full black trench coat with mysterious object hidden up under his left arm before he retreated down the very busy street in front of our building. In short he was a creep show.  One day about a year and a half later Jim, eh, Howard decided to make a return visit to our Prudential Offices. THIS time the office staff was instructed that if he returned to call 911 immediately. With his penchant for odd behavior we really didn't need any incidents or accidents from Mr. Hughes which certainly seemed on his mind during visit #1.  He walked in and asked for us. Fortunately 911 had been called before he got inside. When he realized what was happening and who was on the way, he exited again but this time didn't get far. IMPD had gotten there right as he was attempting to get into his '78 Barracuda with the bondo and primer paint on the passenger's door. For as kooky, creepy and non sensical as he had been, ultimately he wasn't a threat at all. Mr. Hughes was a person under serious medical care for his personality issues who, oh by the way, also happened to bus tables across the street at the Mongolian Barbecue. Our billionaire was actually just a disturbance in the atmosphere and fortunately not a dangerous one. It was good to have him behind us.  greg cooper search east carmel indiana homes for sale 46033, search east carmel indiana sold homes, neighborhoods, top selling carmel indiana realtor broker agent 

Now It's Urgent

We're just 25 days away from the filing deadline so now is the time.  If you want to pay higher taxes, that's very generous of you but we're not a big fan of coughing up more cash than we need to. We're talking about the exemptions you are legally allowed to have on your home that lowers your property taxes. A number of jurisdictions are requiring a re - verification from homeowners that they do live in and have a mortgage on their homes, two of the most popular exemptions.  if you don't have them your taxes could go up by as much as 30% and you would be stuck with them for a year and a half because it takes that long to get it corrected.  Here's what you need to do. Go to the Marion County or find your taxing authority's web site. The property tax card tab is usually online for you to view or CALL THEM!  Make certain you have the right exemptions. If you don't find the number to call to get it changed.  It's all about the benjamins friends and you'll have less of them if you don't follow up on this one! east east carmel Indiana homes for sale, east carmel indiana neighborhoods, greg cooper, hamilton county Indiana property tax exemptions, indiana property taxes carmel Indiana homes for sale, east car

How A Prospective Buyer Lost $1,000,000...and WE Lived To Tell About IT

If you're just joining us, this is the story of selling the highest profile property in our state. 55,000 square feet of stunning opulence and the the strange, bizarre stories that happened over the five and half years it took to close it.  We had a lot of fun during those years (?), being stalked with a Jim Morrison wanna be, flirting with a female wrestler from the WWE and finally nearly witnessing the death first hand of Teddy Roosevelt's nephew. We had a great time along the way and didn't get shot...which we feel is good. 

Today's story took place in December of 2008, right at four years ago.  We had a world wide 'philanthropist' who claimed to to truly be an angel for people in need all over the globe who was interested.  She viewed the property and was ready to submit her bid actually just before Thanksgiving of 2008. She spent over $13,000 to have it inspected and was set to wire the $15,000,000 to our title company and coupled with her $1,000,000 earnest money would close on the transaction. A sale price of $16,000,000 would make for a very happy holiday for Mrs. Cooper. For those of you NOT in the real estate business, when you get a $1,000,000 non refundable deposit....usually (clearly not always) it means you WILL have a closing. So we thought.  

She did everything right. She wired the $1,000,000 deposit from a Delaware corporation that didn't have any legal action against it (a good start), went through inspections cleanly and was prepared to close.  Funny thing though. On the closing day, no additional funds appeared. Where could they be? It was truly a mystery. Along about 4:00 on the last afternoon of the contract and her time to close, she phoned the legal team from Conseco.  There were problems with the wire, JP Morgan this and Goldman Sachs that. It was a conspiracy and she was being shafted in an unmitigated sexist attempt to foil her buying this mansion. The shame!  She wanted a written 30 day extension. Ahhhhhh no. She was told that if she got her money to the title company in full, Conseco would close. Funny thing. We never heard from her again. At 5:01 on the last day of that contract in December of 2008, that $1,000,000 went from a local title company to the Harris Bank in Chicago in the blink of an eye. The company had kept it for failure to perform. She had lost her (or SOMEBODY'S) $1,000,000.  She must have not needed it very badly because she never came forward again. Of course it may have had something to do with that phone call I got 13 months later from the FBI. Lucy had some 'splainin to do. Apparently our angel had set this up as some form of pyramid transaction and the rich overseas folks at the bottom of the pyramid were none to happy. We answered all of the nice FBI agent's calls....and that was the last that our little angel was ever heard from.  We are now on the FBI's quarterly mailing list, however. They really do seem to be very nice people. 
greg cooper east carmel indiana homes for sale 46033 neighborhoods, top selling carmel indiana realtor broker ant 

Selling Indiana's Highest Profile Property - Mr. Grammy

This is one of a series of posts that documents our experiences in selling one of the highest profile properties in the state of Indiana which closed just over two years ago.....

One of the contacts that came out of hosting the decorator's show house was a real estate developer and supporter of the arts out of central Florida.  He was a sitting member of the Grammies and had vast connections in the entertainment industry which would help support his future plans for the mansion. He had taken this type of property in the sunshine state and converted it into a high end concierge based bed and breakfast, a 'Canyon Ranch' type of establishment if you will. His interest in 1143 W. 116th in Carmel was similar.  Initially he wanted to buy this mansion furnished from the Show House which was impossible. The furniture was all owned buy private individuals who had loaned their personal property for the good of the event. Once we got past that hurdle we had to determine that zoning would not be a problem for that type of business. Mr. Grammy did his diligence and assured us it would not. The time had come to sit Mr. Grammy and Mr. Big down for a contract negotiation. In nearly three hours of talks (which would loosely resemble an executive drubbing by our Mr. Big), an agreement was finally reached and a deal signed. It would require Mr. Grammy to wire us in a large earnest money deposit within 48 hours and then proceed on to closing.  Mr Grammy and Mr. Big shook hands after signing the deal. Mr. Grammy went back to Florida. It was the last time we'd see him because a funny thing happened over the next several weeks. No earnest money was ever wired. No phone calls were ever returned. Literally nothing happened. Mr. Grammy who signed an offer to purchase never did one thing he said he was going to do despite flying his entourage up here and spending countless hours viewing the property and negotiating the deal. Could we chase him legally? Yes but at what cost?  And at what result?  The deal wasn't worth the paper it was written on and was better off in the shredder. Mr Grammy did reappear some time later.....although not in contact with the mansion.  east carmel indiana homes for sale neighborhoods greg cooper, top selling carmel indiana broker agent realtor, hilbert estate 

Decorator Show House Post Mortem

This post feels like it should read 'I helped facilitate the 2006 Decorator's Show House and all I got was this bottle of wine.'  I WAS grateful that St Margaret's Guild gave me one of these but I would have been much happier if the house had sold. After over 35,000 people came through Indiana's highest profile property, the event itself was a raging success.  Hundreds of thousands of dollars had been raised for people in need without major incident at the property and in truth we had one true (viable) buyer who was interested. We thought.  All that was left to do now was get the millions of dollars worth of furniture out, resolve putting the house back in neutral form for Conseco and this event would be in the books. After hundreds of hours of work, numerous exclusive parties and gatherings and tens of thousands of visitors like you and me, it was behind us. Now we had the task of dealing with Mr. Right, our one suitor who had come to the forefront as a purchaser as a result of this event. His story is coming next in our series of Selling The Mansion. east carmel indiana homes for sale neighborhoods  greg cooper, top selling carmel indiana broker agent realtor, hilbert estate 

The Housing Bait And Switch

As the days dwindle in 2012 we want to share some thoughts from time to time for those of you who may be selling a home in 2013.  One thing that continues to cost home sellers money is the process of putting a home on the market is over pricing either by choice or by being misled by who represents them.  The most important thing to remember in your housing endeavors in 2013 is that the market is the market. Silly cliche? Not so fast my friend. No amount of wishful thinking, no magic pill and no overly creative Real Estate professional can con the market into believing your home is worth more than it is yet year after year sellers fall prey to listing a home with an agent who insists they have the system to get them to the promised land (otherwise known as fool's gold).  When you choose someone to represent you who gives you the highest priced estimate on what your home is worth, here's what usually happens. 1) Your home doesn't sell; 2) You inevitably get beat up on an offer price by prospective buyers because your home has been on the market so long without selling.  For your own sake, don't list a home just because an agent picks the highest price. The real estate bait and switch is one of the businesses oldest professions and always costs you money!  greg cooper east carmel indiana homes for sale 46033 east carmel indiana neighborhoods 46033 top selling carmel indiana realtor agent broker

Selling The Mansion: The Decorator's Show House - The Event

Once the formalities were dispatched as to whether this event would be held at the mansion, the real work began. A nearly silent estate became a beehive almost instantly. Vehicles of all kinds were coming and going as decorators, media people and vendors all became enamored with what this place would look like once the transformation of making it a Decorator's Show House had occurred. From late January until late April the work went on at a frenzied pace. 

Then...all at once it became the night before.  Millions of dollars of antiques and opulent decor had been carefully arranged from the Master Suite across the Sports Building to the pool area. Thousands of hours of work had culminated into this event which would turn out to be the largest of it's kind in our state. Everything was in place. I was at the mansion the night before the Show House started, late into the evening. I was one of the last to leave the property and the memory will stay with me for a lot of years. As I walked from the rear of the grounds to the pool area it felt completely surreal. The pool deck area had been outfitted with all kinds of over sized furniture. There were no lights on aside from the full moon coming up across the sycamores to the south. It looked like a scene from Alice in Wonderland. Life size chess pieces sat on a 12 foot wide chess board. Huge wing backed chairs that reminded me of an old Lilly Tomlin sketch from my childhood were arranged along a gigantic table. I half expected to be joined by Brare Rabbit. I became a bit religious about it all at that point. Praying it went smoothly, praying there were no major incidents, praying we'd have that elusive buyer come forward so that the tens of thousands of dollars of marketing would pay off so that my partner and I could go back to just having one full time job. There would be an elusive buyer appear...how elusive would be the question for our next installment of Selling The Mansion. east carmel indiana homes for sale 46033, east carmel indiana neighborhoods, east carmel sold home sale prices, greg cooper, top selling indiana realtor broker agent 46033

Peering Into The Future - What's In Store For 2013

The Central Indiana housing market has had a better year.  Sales are up, values are up and inventories are down.  So what's that mean for the year ahead? First, who ever wins the presidency in the short term will have no influence on our housing market.  Rates are being held down, yes artificially but still historically low. Rates and job security are the two biggest factors driving our housing market.  As long as there is some level of growth in the overall economy and rates are close to where they are today, central Indiana homes will sell....with an asterisk. Home buyers are still very picky. To get your home sold at the highest value you MUST have a product that meets the demands of the market.  It must be very well cared for and in neutral condition and have an updated kitchen with stainless appliances and in most cases granite counters. Hardwood floors are still a huge draw provided they're not damaged or scratched.  It must be clean. CLEAN CLEAN CLEAN. Even a hint of a bad pet odor or a bath/kitchen area that seems dirty and you will cost yourself money.  Here's the bottom line.  Get GREAT counsel to help you get ready and then do exactly as they prescribe because next year there will be fantastic opportunities to buy (with great rates) and sell (with inventory being down). The summary prediction:  2013 will be the most active in the metro since 2006.  What can we do to help you get ready?
greg cooper, top selling carmel indiana realtor agent broker, carmel indiana neighborhoods, carmel indiana homes for sale 46033 

Selling The Mansion: The Decorator's Show House #2

The Decorator's Show House for 2006 was looking for a new home.  We had the most desirable spot in the Indianapolis area. It seemed like a match made in heaven but the politics had just begun.  While we were trying to convince our boss at Conseco to use this property to house the DSH and draw thousands in to see it, there was a meddler who was trying to blow it all up. There was a reason. This meddler just happened to have a very large home that he would make available for the DSH and St. Margaret's Guild and oh by the way this home just happened to have a large tract of land around it that was about to be turned into a neighborhood development.  In other words, he was trying to lure the event to his location to promote his property.  He was telling whoppers to various members of the Guild to try and do that.  Liars have a way of getting caught up in the ruse and he did. Fortunately for us we had the trust issue and a better location on our side. The Guild was now on board to meet with our boss at Conseco, Mr. Big.  There would be a final discussion coming on whether the DSH would be at 1143 W. 116th Street.

 

The meeting between Mr. Big and St. Margaret's Guild was another surreal moment in this whole 5 plus year process.  We sat in a large board room with four members of the Guild, Mr. Big, my partner Dick Richwine and myself.  Understand that these four ladies from the Guild were people dedicated by this cause to helping people in need in the community. It would be fair to say they were prim and proper. It would also be fair to say that Mr. Big was not. He was a high level executive who was used to doing things his way. He was brash and not especially worried about hurting feelings. This had the potential to be a mess.

 

So the discussion began with Mr. Big peppering the ladies with questions about logistics (how are we going to get thousands of people in and out of there) and safety and managing the site and security, etc., etc. He went at them like he did us when we were interviewed to be the brokers for this sale. There was a lot of tension in that room.  We knew as the brokers that this event could lead to massive exposure and a sale of this property. The Guild needed a location to save their signature event. Their charity was counting on the thousands of dollars from that event to serve needy people. As the brokers we needed it. As a philanthropic group, they needed it. 

 

As the discussion wore on, Mr. Big's phone rang.  It was the former owner of the property.  We could hear his voice but could not tell exactly what he was saying. He was NOT happy. The conversation raged mostly from the other end of the phone. Mr. Big held his cell nonchalantly and gazed out of the window for almost 10 minutes during the conversation. Understand that there were high levels of extended negotiation going on between Mr. Big and this former owner relative to the legal action of Conseco. We didn't know it at the time but his consideration of using the mansion for a Decorator's Show House had little to do with charity. It had to do with tweaking the other side, just like the radio broadcast we described in an earlier post. As the conversation ended. Mr. Big was still staring out the window when he uttered in his Boston brogue 'the farmahhhhh ownuhhhh of the residence is against us holding the Show House at the mansion and that's exactly why we're going to do it.' 

 

Dead silence.  Everyone looked at me and then at Mr. Big. Did that mean?  Yes. It certainly did. The DSH was coming to the mansion. It would be the biggest charitable event to hit the city, quite likely ever. We had a 20 million dollar mansion to sell and would be right in the middle of it.

greg cooper, east carmel indiana homes for sale neighborhoods 46033, top selling indiana realtor broker agent greg cooper

 

 



There's An App For That....

Playback! For those of you who didn't see Greg's Sunday segment on Weekend Sunrise on Channel 13, you can see it  in full HERE. This week he discussed the explosion in home buying and selling real estate applications including one that helps you match paint to neutralize in coordination with major color schemes already in your home.  east carmel indiana homes for sale, neighborhoods, top selling carmel indiana realtor broker agent, greg cooper, wthr the real estate update

Selling The Mansion: The 2006 Decorator's Show House #1

Of all of the tales we have from selling Indiana's highest profile mansion, this one was probably the best. There were politics and intrigue galore and moments when we simply couldn't describe what was going on around us.  A little background: The 2006 Indiana Decorator's Show House was originally scheduled to be held in the Indiana Governor's mansion on North Meridian Street in Indianapolis.  In late 2005 and early 2006 however, things went south between the Governor and the decorators for St. Margaret's Guild, the organization who ran the showhouse.  The Guild had lost their location to hold their signature event. The event that annually raised hundreds of thousands of dollars for charity was in jeopardy. For them, it was a gigantic problem. For us, that smelled like an opportunity but there were huge logistical issues to consider. I called the Guild and asked if they would consider having the event at the mansion. They were open so the first thing we had to do was get the directors of the Guild to the property to see if it was even feasible. Most showhomes of this type take many many months to prepare and when the decision was made to leave the Governor's mansion, there were less than 100 days to opening of the event. It would be tight. The Guild's directors were intrigued by the possibility. It had never been held at a venue like this and this property was in the middle of a highly publicized legal battle. It was a place that the general public was fascinated with. The potential for the Guild to have an incredibly successful event was ripe. The potential for us to host an event that would present this property at the highest level to prospective buyers was also there. Needless to say, we wanted it. The Guild decided they were willing to have the discussion. The next step would be to convince our client, Conseco and our boss, Mr. Big, to take the risk and let this happen. There were legal and financial risks for Conseco.  There was going to be a great time commitment for us. None the less all parties still remained open. There would need to be a meeting between our boss and the directors of St. Margaret's Guild to discuss and finalize any decision on the Show House coming the Mansion. That alone would be tricky. Of course nothing comes easy on a project like this and of course something came up before the meeting between our boss and the Guild. On a cold, snowy night in early January 2006 as I walked the property with a group of investors, my phone lit up with a message from one of the directors of St. Margaret's Guild. There was a problem. We had ourselves a saboteur who had inserted himself into the process. He was doing all he could by spreading lies and trying to blow up the Show House opportunity at the Conseco Mansion. But why and could we fix it?  More on that in our next installment of Selling The Mansion - The Decorator's Show House #2. greg cooper, top selling carmel indiana realtor real estate broker, east carmel indiana homes for sale, east carmel indiana neighborhoods