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Nate Hicks - Hicks Team - Real Broker LLC
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RECENTLY SOLD
- 1/26 26
$ 160,000 3.0%
$ 164,900
4 Beds3 Baths1,986 SqFt211 W 5th Street, Auburn, IN 46706-1701
Single Family Home
Listed by Kate Walker of CENTURY 21 Bradley Realty, Inc
- 1/28 28
$ 246,900 1.2%
$ 249,900
3 Beds2 Baths1,460 SqFt1167 County Road 34, Auburn, IN 46706-9811
Single Family Home
Listed by Joseph Sells of Hosler Realty Inc - Kendallville
- 1/30 30
$ 142,900
$ 142,900
3 Beds1 Bath1,060 SqFt215 W 1st Avenue, Garrett, IN 46738-1983
Single Family Home
Listed by Rebecca Maldeney of Indiana Real Estate
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My Top 15 Mega Tips for Home Buyers in 2025 and Beyond.
My Top 15 Mega Tips for Home Buyers in 2025 and Beyond. Buying a home is a huge process that involves so much more than simply finding a house you can afford. Home buyers today need to create a home-buying plan that incorporates many of these 15 factors. 1. Buy a home as early in life as possible. Then keep it or only trade it for a financially better situation. The earlier you buy, the better. Having more equity earlier in life is better than the alternative, giving you more opportunity to grow your investments. 2. Make sure your property is well-maintained over the years(buy right). If you need to sell because you fall onto hard times, or you want to sell because you're ready, or you want to tap your equity without selling, all those things will be possible with a home in good condition. You need to buy right, so that you afford the big expenses of owning a home. Or consider a condo where the condo fee spreads those costs over time as a fixed expense. 3. Buy as soon as you can afford a house, no matter the interest rate. Waiting for rates to drop only means that others are waiting, too. House prices won't drop in response to lower rates; they'll do the opposite. 4. That's not an easy ask. You have family nearby, you're familiar with the area, maybe you grew up here. But if you are not able to buy here, then consider relocation. Relocation brings new opportunities. You may love where you go, or you may simply bide your time until you can move back. Just remember the break-even point on most home purchases is 5 to 7 years. 5. As an alternative to relocation, consider buying an investment property in a more affordable location. Consider condos near colleges or small rental homes near large industries. The most important factors are that the rents will cover your mortgage and expenses, and the rental market is consistent. Meanwhile, you can pay rent for the place you live now, knowing that you're "in" the real estate market someplace else. 6. If you can afford it, and if these types of properties are available near you, buy a multi-family property. Live in one of the units, while renting out the others. Put 20% down, as this gives you the most leverage, ensuring that your renters are paying your portion of the mortgage, allowing you to live "free" while gaining equity. Contact me to see what's available. 7. Shop for mortgage rates before you buy Don't get sucked into an online promise of great rates, just because it's convenient. Go to different sources. Include at least these three sources: 1) A mortgage broker that your real estate agent trusts (contact me for some referrals). 2) Your personal bank. 3) Online mortgage companies. Compare fees and interest rates, not just rates. You may not get much difference, but even a quarter-percent might get you $50 to $100 more per month buying power. Just for shopping rates! 8. Ask family to help to by your home or investment. Consider ways to pay them back or consider it a gift. If you do plan to pay the money back, don't allow it to be formalized as a loan or the bank will consider that a debt. Clearly this involves a level of trust in your family, as well as the funds to make it work. But, if possible, don't be shy about asking. There are other rules for accepting (or giving) a cash gift, so do your research. 9. Put 20% down. This is an extreme stretch for many people. If you can't do 20%, do 10% or 7% or whatever you can. The reason? That pesky PMI (private mortgage insurance). Unless you're buying a home using a government loan or other alternative loan, you're likely going to pay PMI if you put less than 20% down. That's money wasted, thrown away, never to provide you with any value at all. (Except in rare circumstances. See my analysis of PMI in my November 2024 newsletter. Or ask me for a copy.) PMI insures the mortgage holder, not you. 10. Don't buy more than you can afford, just because you love the house. Ideally, you should shop below your highest approved price point, based on the quality of life you plan to have. If you know you're going to have kids, you'll want enough money for their many expenses. If you plan to travel a significant amount, you'll want to have more money to put into the experience. If you want to retire early, you'll need to invest more sooner. Don't be house poor! 11. Consider house-hacking. It's not the strange idea it used to be. Buy a house with a floorplan that allows you to comfortably rent out a room, or add an ADU (accessory dwelling unit, or granny flat). This can considerably lower your monthly expenses, without affecting your quality of life, if you buy the right property. Contact me for help figuring this out. 12. Get online and start hunting for down payment and mortgage assistance programs in your area. They may or may not exist and you may or may not be eligible. But it might pay to look. 13. Consider an ARM(Adjustable-Rate Mortgage). As much as 30% of mortgages today are adjustable-rate mortgages, so don't think this is an unusual concept. Many ARMs start with an initial low fixed rate for five to 10 years before rising. So, if you plan to sell in that time frame, an adjustable-rate mortgage might make great sense for you. Note that you must qualify at the fully realized future interest rate, even though you'll pay less on the front end of the mortgage. 14. Count your side income. If you've been making and selling cookies at the local farmer's market for the past couple years, making an extra $1,000/mo. profit, and you have documented your income and expenses, your lender might be able to count that towards your qualifying amount. Just make sure you're planning to continue that side income to ensure you can afford the home. Alternatively, spend the next year saving your side hustle money for a higher down payment. Remember, the higher the down, the lower your PMI and monthly payment. 15. Be clear about how you'll compensate your real estate agent. It's hard to buy a home without an agent. It's possible, but for the average home buyer, there are simply too many moving variables and potential pitfalls to "go it alone." That means hiring an agent to help you navigate and negotiate the purchase. Agents can be expensive, so discuss the fee structure with an agent ahead of time, in particular if you're expecting to ask the home seller to pay your agent's fee (which is traditionally how it's been done). Your Best Next Step Contact me for help to create your home buying plan that includes all these factors! I’m not just an agent. I’m your real estate-for-life advisor. Call or text me at 260.897.1776 for fastest service!
Read more7 Ways to Sell your Home Faster, Without Reducing The Price
7 Ways to SELL YOUR HOME FASTER, WITHOUT REDUCING THE PRICE Why would you want to sell faster? It’s not just about moving on once the decision has been made. The speed of sale also can affect you financially. You know that if a house sits too long unsold, statistically the value drops, so you want to make sure that you get offers within the early days of listing. The goal is to sell fast, not have to deal with all the showing headaches, and also not have to drop your price. Here are 7 ways to make sure you get offers quickly, without dropping your price. 1. Price Correctly in the first place Price too high and you risk scaring everyone off; price too low, or even right at market value, and buyers will still expect to haggle. You could end up with considerably less than you could have gotten. You need to price just right...in the Goldilocks zone for home pricing. Where is the Goldilocks zone for your house? It depends on the market conditions in your exact location. Literally, on your block. If it's a hot seller’s market, then the Goldilocks zone is at or slightly above market value. If it's a hot buyer's market, then the zone is at or slightly under market value. Remember, market value is according to your local market. Market value is usually the average price of homes that have sold in your neighborhood over the last three months. Your real estate agent (me, in this case) will show you all comparable properties (called a CMA—comparative market analysis) and review them with you to estimate a high and low price for your home. If you think your price should be higher than what the real estate agent comes up with, then discuss it, don't simply demand a higher price or tell them to take a hike. Pricing isn't an exact science. Ultimately, the one thing that will absolutely determine the price your house sells for is what buyers are willing to pay. That's why real estate agents look at SOLD comparable properties, not ACTIVE comparable properties. Pricing is one reason agents hold an open house right after listing...if the price isn't right, they want to reduce it within the first seven days, so that it doesn't become seasoned at the wrong price. The only way to absolutely know if the price is right or wrong is to get the opinions of buyers. The closer that your house is in price to what buyers expect for that style, condition, and location, the faster your home will sell. 2. Choose your real estate agent wisely No one likes spending money, especially the high dollars it takes to sell a home. But if you are going to spend the money, then you should get the best agent representation you can. A great agent doesn’t cost any more than any other agent, and they may save you money and aggravation. A good agent will price the home correctly or not take the listing. A good agent will have a marketing system ready to plug into, not be creating it as they go. A good agent will know what is hot and what is not in the market and play to the right people by positioning your property through its marketing. A good agent will know a lot of other good agents, and your home will become part of the good-will network, where other buyers’ agents encourage their buyers to view a home, because they respect the listing agent. A good agent will spend a lot of time, attention, and marketing dollars on your property. As a good, even great agent, I’m a listing professional who understands how to sell homes. call for a no-obligation consultation! 3. Put your house in order While television programs such as House Hunters and Fix It or Flip It have left some buyers feeling that all properties should be immaculate, neutral shells with Pottery Barn furnishings, this is unrealistic for most sellers who must live in their homes while selling. However, you can help prospective buyers to see past your lifestyle so they can project their own lifestyle onto your home. Here are some techniques for doing that, without emptying your home… People like brightly lit homes, so cleaning the windows and switching on lights enhances first impressions. Also a clean, clutter-free environment makes buyers feel as though they want to live in that space—even if they’re messy themselves. Painting can do wonders for a tired interior. Reorganizing your furnishings can enhance your space, and removing a few decor items that are extremely personal, such as a wall full of family photos, can neutralize it without much effort. Also, good first impressions are vital, so don't forget the exterior. Paint the trim, trim the plants, and plant some flowers. Add a new door mat, keep the walk swept, and consider sprucing up the front porch. Even in winter, you can add pots with evergreens and use whimsical garden balls to add a splash of color. You increase your odds of selling faster with a de-cluttered, clean, fresh-smelling, and well-lit home. 4. Avoid complicated buyers Some home buyers will make an offer, then ask for the moon and stars during inspection negotiations. This is their right. However, you can't afford to keep waiting, keep making things right, and keep wondering if they'll pull out at the last moment. Increase the chances of a faster sale by making sure your real estate agent is qualifying the buyers for you. This can include talking to the buyer's lender, talking to the buyers themselves, putting stipulations into the contract to keep the buyers from dragging their feet, and more. An experienced agent will hold buyers to their agreements and help you negotiate when the buyers ask for more…more repairs, more time, more money. An experienced agent won’t just help you get an offer…we’ll get to the closing table. 5. Make repairs Walk around your house as if seeing it for the first time. Even better, have your real estate agent walk around with you. Make a list of the little details that you only just now notice, such as a hole in the screen, a leaning gutter, a spot on the carpet, a bit of dangling drapery, mildew on the bath tile, etc. These are usually very small items that you don't even notice because you live there and see them every day. But a buyer walking in for the first time will see them and immediately make judgements about the overall condition based on a few scraggly items. By fixing all these little items, you increase the chances of a faster sale. If your neighbors’ homes were also in great condition when they sold, then yours will need to be in great condition, too. And if your neighbors’ homes were in worse condition, then you'll sell that much faster by being in better condition. One of the best ways for me to help sellers is by doing a preliminary walk-through to point out areas of concern for repair, replacement, or improvement in décor. 6. Consider minor upgrades If your budget allows for it, then adding new light fixtures, kitchen and bath faucets, and even a new backsplash can make a big difference in how a space feels. Studies show that these small details (oddly, especially the backsplash) can make an outsized difference. Make note of areas that look dated and tired. A simple upgrade in strategic spots can help a buyer feel that he's moving up by moving into your house. Again, your real estate agent can point out the strategic places for enhancements that buyers will notice. 7. Consider staging Even a tired, old house can be made to feel fresh and alive with the right staging. For instance, a house with old metal window frames might be a turn-off, but rich, fresh drapes can disguise those metal frames. The point isn’t to hide something, but merely to demonstrate to the buyer that the house as-is can look amazing. If you can't afford full-on staging, then focus on your problem areas. If your dining nook is too tiny, put a properly small, proportioned table into the space. If your bathroom was new in the 1960s, then make the grout sparkle and get all new towel sets, matching soap dish, shower curtain, etc. As with making small repairs and minor upgrades, staging can do wonders for speeding up the sale of your home. Your Best Next Step Call and set a walk through appointment with me as soon as eight months before you plan to sell. I'll help you find areas where small improvements can make a big difference in the speed and price you sell for. While I’m there, I can gather the information I need to prepare an accurate CMA and value estimate for your home. Call or text me at 260.897.1776 for fastest service!
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7 Ways Home Buyers Lose Money Before They Even Buy A Home
7 WAYS HOME BUYERS LOSE MONEY BEFORE THEY EVEN BUY A HOME A mortgage is the biggest debt most of us will ever have.Because the numbers are so big, thousands of dollars (or pounds, shekels, or other monetary symbols) can slip away without a borrower ever noticing. Here are 7 money-draining cracks that home buyers need to think about. 1. Ignoring the true cost of home ownership Owning a home comes with new expenses that surprise many buyers. Even experienced home owners can forget how much it costs to upgrade a home, improve outdated features, and fix hidden problems. It’s wise to take these costs into consideration before signing on the dotted line. Before purchasing, calculate realistically what you’ll need to spend to get the home up to your standard. In some cases, you may be better off paying more for a home that’s already been upgraded than paying for a cheaper home that needs more work. On the other hand, if you are struggling to make a down payment on a more expensive home, then buying cheaper and putting money into it over time and using your own sweat (“sweat equity”) might offset the higher down payment you would have had to make on the more expensive home. A 20% down payment on a $300,000 is $60,000. If you can’t afford that, consider buying a nearby fixer-upper. That home might only cost $225,000, with a down payment of $45,000. The extra $15,000 might be enough for you to do many upgrades that would bring it close to the standard of the more expensive home, but you won’t need to come up with that extra $15,000 up front. This might be a good investment option—if you go into it with eyes wide open, along with a really good home inspection. Ongoing Maintenance The longer you own a home, the more you’ll want or need to make expensive fixes. A new roof may be in your future, as well as repairs to a cracked driveway or installation of a new fence. Some items can sneak up on you, like tree removal service, a broken water main, and termites! As a rule of thumb, budget 1 to 2% of your home’s purchase price annually for maintenance. If your home will cost you $250,000, expect to spend $2,500 to $5,000 annually on unglamorous purchases like a new water heater or having your furnace serviced. The older your home and the larger it is, the more you’ll spend. Also consider a savings fund for big ticket items. If your roof has a life expectancy of 5 years, start putting aside a little each month now. 2. Becoming house poor There are many places in your life where you’ll need to put money besides your house. Replacing a worn-out car. Saving for retirement. Building a college fund for the kids. Life-altering vacations. Even buying furniture for your home. If you’re spending too much on a mortgage, you won’t have money for these other investments. A general rule for housing affordability is to spend no more than 28% of your gross income on a mortgage. So, if you earn $75,000 a year, you should spend no more than $1,750 a month on payments, including insurance premiums and association fees. You can use a mortgage calculator to see how much house you can buy for the amount you can afford monthly, and how much down payment money you’ll need. 3. Not shopping around for loans While it may seem to the average consumer that all mortgage loans are alike, and a loan broker may not even offer any options, the truth is that you do have options. You may be more or less qualified for some kinds of loans that offer better rates or terms. A military veteran’s loan is a good example of this, offering a zero down payment for some people. There are also loans for teachers and other job types, and loans for buying in certain areas. Aside from special loans, your standard loans also come with different price tags: According to Sergei Kulaev on the website, Consumer Financial Protection Bureau, “Our research showed that a borrower taking out a 30-year fixed rate conventional loan could get rates that vary by more than half a percent. Getting an interest rate of 4.0% instead of 4.5% translates into approximately $60 savings per month. Over the first five years, you would save about $3,500 in mortgage payments. In addition, the lower interest rate means that you’d pay off an additional $1,400 in principal in the first five years, while making lower payments.” To compare prices, you can use one of many websites that allow you to request bids from mortgage brokers. One broker may know of a special loan that another doesn’t know about, and all may have different fees. The fees and interest rate differences between these loans can be huge, especially over the life of the loan. You can also compare loans by calling different loan brokers personally. Be sure to include one or two bank lenders and credit unions on your list. Many of these bankers have in-house loans that might be better than another company’s loans. 4. Ignoring the APR Some lenders advertise low interest rates but make up for the low rates with high up-front fees. If you were to spread the cost of those fees out over the life of your loan, you might discover that your effective interest rate is actually higher than you could have gotten with another mortgage. Sometimes a lower rate loan has a higher “effective” APR…making your loan more expensive over time. APR means Average Percentage Rate and includes all the fees as though spread over the life of the loan. For instance, imagine a $100,000 30-year fixed-rate loan with an interest rate of 3.85%. Now imagine the lender charges two points (a 2% buy-down of the interest rate), a 1% origination fee, and $1,500 in other closing costs. That brings the “real” interest rate from 3.85% to 4.215% APR. Next, imagine a $100,000 loan at 4.05%, but with no points (no buy-down), a 1% origination fee, and just $800 in other closing costs. That loan’s “real” rate is 4.199% APR. The first loan looks cheaper on the surface, but it’s really more expensive. The difference may only amount to $10 or $11 per year, but that’s your money, year after year. If you paid your mortgage for 30 years, you would pay an additional $3,650. That’s money you could have in your hand at the end to pay off another bill, put into your retirement account, or take a vacation! Of course, if you plan to sell in 5 years, the extra $50 might not matter to you, in exchange for working with a broker you like, or someone more willing to give you a loan based on your credit rating. 5. Making a small down-payment Most loan programs require a 20% down payment to get the best rates and avoid paying mortgage insurance — an extra cost that typically adds $100 or more to your monthly payments! You want to avoid paying that extra premium if possible. It goes away after the home’s value rises to more than 20% of the loan value, but until that time, you could be paying an extra $100 per month for many years, with nothing to show for it. If you can’t afford 20% down, consider three things: Maybe you should wait until you’ve saved up enough down payment. Maybe you should buy a cheaper home, where you have a 20% down payment. Maybe you can put 15% down…that will help. If you have to buy now and pay the mortgage insurance premium, but you plan to make renovations, consider getting a reassessment of value as soon as possible. Ask the lender how soon you can do that…some loans won’t reassess under two years, leaving you stuck with $2,400 in extra payments! 6. Not checking and fixing credit reports Checking your credit report should be a part of your annual financial health checkup anyway, but when you are about to apply for a mortgage, it’s extra-important. Why? Because credit rating equals interest rate. A low or poor credit rating will result directly in higher interest rates and higher monthly payments. The worse your credit, the higher the rate. Conversely, a lower rate might mean you can buy a more expensive (nicer) house. But many credit reports make mistakes. Sometimes it may be a legitimate financial shortcoming on your part, but one that you “fixed” a long time ago, such as an unpaid library bill. It should have been removed from your report, but lingers. You have a right in most countries to contest that item and have it removed. Then have your credit rating rebalanced. Doing this can mean the difference of many thousands of dollars, and even determine whether or not you get the home of your dreams. Also, keep an eye on your credit usage. A high credit usage will cause lenders to be concerned that you are over-extending yourself. Lower credit usage demonstrates wise or controlled spending, which they like. However, don’t pay off or close your credit lines entirely. Keeping some credit also demonstrates credit-worthiness more than keeping no credit at all. 7. Not waiting until you’re more financially stable As alluded to earlier, sometimes a buyer just needs to wait until they have more money before buying a home. Down Payment—Coming up with a 20% down payment can be financially wise. It will result in less to pay off, and a lower monthly payment, and it will save on the mortgage insurance premium. It can be hard to wait, to delay gratification, but it can make a huge difference over the years to come. Quality of Life—Also, making sure there is enough income to afford the maintenance, and be able to enjoy life besides, are strong reasons to plan long term for a home purchase. Balance of Interests—However, there are legitimate reasons to buy a house, even if it stretches you financially. If it seems that house values are rising fast, or you’re able to score a great deal, or you need to purchase for another personal reason, then you may be better off jumping now, rather than waiting for the perfect financial picture. Contact me for smart home buyer representation BEFORE YOU START HOUSE HUNTING! I’LL HELP YOU AVOID SOME OF THE HIDDEN EXPENSES.
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