Lokvani Talks To Archie Reddy
Archana (Archie) Reddy is a real estate agent in Sudbury, MA. A graduate of Worcester Polytechnic Institute (WPI) she started her career as a management consultant at Deloitte. Later she worked in Finance Analytics at Sanofi Genzyme. Her interest in Real Estate propelled her to move into that career. She lives in Sudbury with her husband, Navin and her son Jonathan, both of who are the joy of her life
She talked to Lokvani about her work.
What motivated you to give up your career and move into Real Estate?
I was raised in a "Real Estate" family. I got my first taste of real estate sales in high school by helping my grandfather sell his ancestral home in India. As a teenager, I was also part of my mother's herculean efforts of buying a lot and building her dream home. Real Estate was always on my mind, and the process of buying my first home fanned the embers of dormant desire into a burning passion. I understand what it takes and know how it feels when you are taking the first step towards buying your dream home or selling the one that you so love. I decided it would be some thing I would like to do.
What is your message to your customer?
I'd like to be with you, every step of the way, to help find you the "Best Houze" or the best buyer for your house. You're entrusting me with your dreams and I would never take it lightly or treat it as just another job or deal. I am passionate about my profession because I know, first hand, a heart's desire, the hard work, hard earned money or heartbreaking delays involved in buying, selling or building a home. With my strong negotiating skills, persistence, hands-on approach, I secure the best possible outcome for my client. I am committed to all my clients, both buyers and sellers, and offer my professional service, aggressive marketing strategies and market intelligence. I assure honesty and transparency in every transaction from start to finish.
I market a home for my sellers, by utilizing the very latest real estate industry technology, and that puts us on the path to secure the highest possible price in the shortest period of time. My services go above and beyond the sale of real estate. I help my seller clients find reliable home improvement professionals prior to selling their homes. Quite often, first impressions are lasting impressions, and so dressing up your home to meet its new owner is something with which I can help, as I am also a certified Accredited Staging Professional. For my clients who are looking to buy a home, I carefully identify the criteria and streamline their search process to find the perfect property. I connect them with lenders to get the best financing options and home inspectors . I also help arrange for movers, delivery and service people to help make your move as smooth and comfortable as possible.
But it is not all about me - it is about you. I am here to serve you.
Feel free to contact me to partner with or to take you through the steps to the threshold of your new home. Or, if you are looking to sell your house because of growing family needs (or for any other reason), you can rest assured that I will work hard to get you the best deal. Trust is what I hope to build - lasting relationships will be the icing on the cake.
Can you tell us about the current market conditions? Is it a time to buy or sell?
Shortage in inventory in the past few months and strong buyer activity in the early winter, have pushed home sales up in March and April after a slight dip in February. This is a very hot sellers market. If you are a seller, the best time to list your house is now. For buyers out there who are trying their best to buy a house before the new school year starts, I would advice not to panic, as this shortage is temporary. The good news is that Sellers who have initially decided to wait a year or two to sell, are now changing their mind due to anticipated profits they may receive and therefore are getting ready to sell their house this summer. Also, builders are breaking ground on new single-family homes, and this can help ease some of the pressure with the market lagging in inventory. Moving into the summer months, we will see a stronger pace of construction to help offset this growing demand.
How should one decide whether to buy a new construction or buy an old one and fix it?
This is a question with no one-size-fits-all answer, although most people can make the decision with a bit less drama than is normal in a popular HGTV show. The new construction home look and feel can be extremely appealing; there is no question about that. The newest properties tend to offer stylish, hi-tech, smart home features. The price is usually the biggest drawback in buying a new home. It’s not uncommon to find them listed above market value. There are a lot of sound reasons to buy older properties and fix them. For some, it is about improving communities and for some it is the having the ability and flexibility to design and make over the property to suit your tastes. Buying properties that need fixing isn’t without its issues. Some may only need a fresh coat of paint or removal of old carpets. Others may need to be gutted and rebuilt. One of the big challenges is, knowing the difference between whether the house needs a simple cosmetic update or a structural renovation. For those seeking hassle free home purchase, a better option would be buying an existing, recently remodeled home. Many of these homes will look like new, but will be priced more fairly. They are livable, more affordable, and perhaps better for reselling in the short term.
Is rental real estate a good investment?
Investing in rental property has long been a popular option for people who want to diversify their financial investments. But, unlike the conventional investments, rental properties can require significant hands-on involvement, including dealing with tenant headaches and property maintenance. The idea of investing in real estate being easy money is not entirely true. Though it seems like passive income, if you're still managing the property yourself, its almost as if you are doing a second job. A rental property is only a worthwhile investment if there is positive cash flow. Location and market condition will determine whether or not a property may rise in value and yield a profit when you sell.
Do you also work with commercial real estate? If so any tips on buying commercial real estate?
Even though my main focus at Keller Williams is residential sales, I recognize the important of commercial real estate, and have partnered with some great commercial brokers to handle the commercial sales for my team. I would highly suggest anyone considering a commercial property to first weigh the pros and cons of buying commercial real estate, understand the basics of analyzing a potential deal, develop forecasts and lastly secure financing.
What would be your advice to get the best price on your property?
I believe aggressive and clever marketing is the backbone of any home selling endeavor, but no less role is played by the pricing strategy and the staging of a property. As a Realtor, who is also an Accredited Staging Professional, I help my seller clients to stage and showcase their homes to impress the buyers. Since first impressions are quite often lasting impressions, staging is crucial to getting the best price for your property.
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