Hinckley, Ohio Real Estate and Information Source

Hinckley, Ohio

City Information and History

Hinckley, Ohio, in Medina county is exactly five miles square but contains 1133 acres more than the conventional 16,000 acres, due to the hills and valleys and generally 'wrinkled' surface.  The township is known as the home of the buzzards. On March 15 of every year, large flocks of buzzards arrive.  Hinckley is just over 30 minutes from Cleveland, 15 minutes from Medina and 30 minutes from Akron, with nearby access to I-71, I-227 and the turnpike.

The Hinckley area became available to Judge Samuel Hinckley of Northampton Massachusetts. He was reputed to be one of the shrewdest land proprietors of his time. He predicted that the day would come when his land in Hinckley would sell for as much as $10 per acre but he did not expect to live long enough to realize such profits.  As the pioneers from the East began to move westward, the Judge was quick to place his holding in other parts of the Western Reserve for sale. He was in no particular hurry to dispose of his Hinckley holdings because they were of less value and Hinckley remained a wilderness for quite a while after adjoining townships had been settled.

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Hinckley Township residents enjoy its rural atmosphere and its convenient location. The city has homes and neighborhoods to suit most budgets and life styles – whether you are newly married or an empty nester, have a growing family, or are an executive with large space needs. Homes range from $120,000 to well-over $1,000,000. The Metro Parks are literally a few minutes away. They offer picnicking, hiking, bicycling, fishing, skiing, and unspoiled nature.

Hinckley is a considered a desirable Cleveland area suburb.  The current real estate market data for the city can be viewed below, which is great information if your looking to buyer or sell a home in Hinckley.  Also provided is full access to all current listings for sale in Hinckley.

Current Hinckley Market Data

Homes For Sale In Hinckley

Helpful Area Links

City Government Website
Demographics
School Ratings
School Board
Area Attractions
Weather Forecast
Utility Providers/City Services
Nearby Shopping, Restaurants, Hospitals, Parks, and more

Selling Your Home In The Winter

As you may probably know, most home sellers wait until Spring and Summer to list their homes.  This is done, primarily because there are more buyers looking during this time period.  From the seller's perspective, this gives them a higher chance of selling their home.

However, listing in the Winter can give you the bigger advantage.  While there are fewer buyers during this time of the year, the buyers who are braving the cold are typically more serious buyers.  You get fewer people "kicking the tires" and more people ready to buy NOW.  According the the National Association of Realtors, it takes approximately 12 weeks for a buyer to find the right home and complete the transaction.  By listing in the Winter, this can give the seller a completed transaction by the beginning of Spring.

As I mentioned, once Spring rolls around, more buyers will begin to come out.  There will also be a lot more homes for sale, competing with your home.  More competition means you will have to do even more to set your home apart from the other listings, which may include a lower price.

When you factor in low interest rates, this is a great time to sell.  Buyers are trying to take advantage of the low rates while they are still low.  It will also allow you to buy your next home at a lower interest rate and give you time to seek out a great purchase, before sales prices begin to increase.

Because all cities and locations are different, I welcome you to contact me to discuss your particular home and situation.

Feel free to Contact Me anytime for more information.

Strongsville, Ohio Real Estate and Information Source

Strongsville, OH

City Information and History

Strongsville is a located in Cuyahoga County, Ohio, situated about 25 minutes from downtown Cleveland and about 15 minutes from the Cleveland International Airport.  The city's nickname is "Crossroads of the Nation," as this is where the Ohio Turnpike and Interstate 71 intersect. The Strongsville Recreation Center and Senior Center were named after former mayor Walter F. Ehrnfelt. The population was 44,750 as of the 2010 Census, and the city is well known for its school system, MetroParks access, and abundance of shopping and restaurant locations.
Strongsville officially became a township on February 25, 1818, a village in 1923, and was ultimately designated a city in 1961. Founded by settlers arriving in the newly purchased Connecticut Western Reserve, the city was named after John Stoughton Strong, the group's leader. Many of the main streets in the city are named after other principle figures and landowners from the city's history, e.g. Howe, Drake, Shurmer, Whitney.
In the mid-19th century, the Pomeroy House, then called The Homestead, was a stop on the underground railroad. Alanson Pomeroy, the home owner and a prominent Strongsville resident, concealed runaway slaves on his property. From this residence in Strongsville, the runaway slaves were taken to boats on Rocky River for passage to Canada.



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Real Estate

Residents like Strongsville because of its atmosphere and convenient location. The city has homes and neighborhoods to suit most budgets and life styles – whether you are newly married or an empty nester, have a growing family, or are an executive with large space needs. Condominium prices range from $70,000 and up, and homes range from $80,000 to over $1,000,000. The Metro Parks are literally a few minutes away. They offer picnicking, hiking, bicycling, fishing, skiing, and unspoiled nature.

Strongsville is a considered a desirable Cleveland area suburb.  The current real estate market data for the city can be viewed below, which is great information if your looking to buyer or sell a home in Strongsville.  Also provided is full access to all current listings for sale in Strongsville.

Current Strongsville Market Data

Homes for Sale in Strongsville

Helpful Area Links

City Government Website
Demographics
School Ratings
School Board
Area Attractions
Weather Forecast
Utility Providers/City Services
Nearby Shopping, Restaurants, Hospitals, Parks, and more

Considering Home Staging to Sell Your Home?

So, you're selling your home, or at least considering it.  But how do you compete with the rest of the market around you?  Pricing? Condition? Listing with an agent that knows how to market your home properly?  YES!

For the purposes of this post, we're going to concentrate on the condition of the home...

Why to Consider Staging

As a seller, you want to put yourself in the best position to get buyers' attention and have them perceive a value for your home, in comparison to other homes on the market in the area.  A buyer needs to see themselves living in your home.  Whether you're currently living in your home or have left it vacant, home staging may be what you need to set your home apart from the rest.

The purpose to home staging is to give your home an updated look, and to give a buyer the ability to see what the home would look like in it's best possible condition.  It helps highlight the home's best features, with the goal of appealing to a broad range of buyers, selling faster and for a higher dollar amount.  According to statistics from the Accredited Staging Professional website, the success rate (see below) can be quite substantial.


Return on Investment

Costs can vary, depending on the size of the home and how much staging work is done.  It can be a few hundred dollars to several thousand, but if it results in a quick sale for top dollar, it may prove to be well worth the investment. According to staging professionals, it can provide a 3-7% higher sales price.

The following is a summary of the results of HomeGain's national survey, based on the ten areas of home improvement identified by real estate agents in HomeGain's survey. They are listed from the highest to lowest returns on investment:


Bottom Line

As I always advise my sellers, if there is something that can place your home above all the rest, it should always be considered.  In regards to home staging, if the results and the return on investment can be achieved, it may be a way for a seller to "beat the market" in a time when the market heavily favors the buyer.

Brunswick, Ohio Real Estate and Information Source

City Information and History

Brunswick, Ohio, in Medina county, is 12 miles N of Medina, Ohio and 22 miles SW of Cleveland, Ohio. The people of the city are in the Cleveland - Lorain - Elyria metropolitan area. Brunswick has a population of 34,255, according to the 2010 census.  Brunswick was named #3 of the top 10 cities for families by Family Circle magazine in 2008.  The city is known for it's schools and it's recent growth over the past several years.

The first modern settlers in this area were Solomon and Frederick Deming, arriving in March 1815. The area was named after a town in Germany, and Brunswick had its first election in April 1818.

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Residents like Brunswick because of its country-like atmosphere and its convenient location. The city has homes and neighborhoods to suit most budgets and life styles.  Condominium prices range from about $40,000 and up, and homes range from $50,000 to over $600,000, with an average sales price around $154,000. The Metro Parks are nearby, offering picnicking, hiking, bicycling, fishing, skiing, and unspoiled nature.

Brunswick is a considered a desirable Cleveland/Medina area suburb.  The current real estate market data for the city can be viewed below, which is great information if your looking to buyer or sell a home in Brunswick.  Also provided is full access to all current listings for sale in Brunswick.

















Helpful Area Links

City Government Website
Demographics
School Ratings
School Board
Area Attractions
Weather Forecast
Utility Providers/City Services
Nearby Shopping, Restaurants, Hospitals, Parks, and more

New Insurance Policy Protects Ohio Homeowners' Home Values

There is a new insurance coverage for homeowners that will guarantee the value of your home.  The new insurance policy, being offered by Home Value Insurance Company, is designed to insure homeowners against losses if their home has depreciated when it's time to sell.

The new insurance has just rolled out, starting in Ohio, then continuing to expand in other states.  This coverage is regulated by the state Department of Insurance, and can only be sold by a licensed insurance agent.

Here are the highlights of the new policy:

• Any homeowner can buy a policy, typically at $20 a month for every $100,000 of value.

• The current home value is determined by the sale price of the home, if purchased within the last year, or an appraised value. The value would be locked in for a 10 year period.

• The insurance premium won't go up by more than 5 percent a year.

• If the homeowner sells at a loss at some point in the future, the insurance will pay up to the percentage of value lost, according to the nationally regarded Standard & Poor's Case-Shiller index. So if a community lost 20 percent of its value over recent years, the owner of a $200,000 home who sold at a loss could file a claim for up to $40,000.

• There are high deductibles the first two years: 10 percent the first year and 5 percent the second year. The purpose of this is to deter flipping.


Based on the information provided thus far, it would seem that a homeowner that may consider selling within the next 5 years would benefit the most from such an insurance coverage.  This would be an option for those who relocate for work, foresee an event that will cause them to move in the short-term, or protect from unforeseen events that will require a home sale.

New FHA Loan Limits - How It Affects Your Home Purchase

Starting October 1st, FHA is reducing loan limits varying by county.
In most of the Ohio counties, the maximum loan amounts will be REDUCED to $271,050. This is a huge reduction in purchase power especially in Summit and Portage County, dropping $58,950 from the prior loan limit of $330,000!! Reductions range from $6,450-$27,700 in the other near-by counties (Lorain, Cuyahoga, Medina, etc.), which are also included in the new $271,050 maximum limit. 

What does this mean for you as a buyer?

After October 1st, 2011, if you're putting the minimum 3.5% down on their FHA loan, the maximum purchase price for your new home would be $280,880, and the new loan amount would be $271,050. Again, these are the maximum limits.  To go with a higher-priced home, a larger down payment would be required to avoid exceeding the FHA maximum loan limit.

If you're considering a home purchase, it's advised that you submit a mortgage application immediately, to take advantage of the prior loan limit.  FHA loans must be assigned an FHA case number by September 30th to qualify for the prior limit. 

A Short Sale May Be Your Best Option To Avoid Foreclosure

Headlines today are filled with stories about homeowners in financial distress—people who face a lender’s foreclosure on their home.

Millions of American home owners are wondering what to do.
Like most crises, this one has produced its share of rumors and misinformation. One of the biggest ones is “just let it happen." Why fight back, this line of thinking goes. It’s too emotionally draining, and the government’s loan modifications aren’t helping many people. Well, that’s only partly true.
While government loan modification programs have fallen short of the mark so far, there is another solid, sensible option for homeowners. It’s called a short sale—a sale to a buyer where the seller’s lender agrees to accept less than the full amount owned.

Why not be foreclosed? Why sell short? Agents who have closed hundreds of these transactions provide this list of reasons:

• Avoid the foreclosure stigma – Homeowners will always have to disclose that they had a foreclosure on any mortgage application and (many job applications) that they submit in the future. This can have an adverse affect on their future mortgage rates. Foreclosure is asked about specifically in credit inquiries. There is no seven-year time limit on this item.
• Protect credit score – Credit scores will be lowered by 300-plus points (per loan) by foreclosure. The impact of a short sale—about half that much.
• Improve eligibility for a government insured loan – The homeowner will be ineligible for a government insured loan for 5-7 years (only two years in a short sale). A foreclosure is the one credit report item that is almost impossible to have repaired.
• Avoid a deficiency judgment – Lenders can seek a deficiency judgment against the homeowner and collect any amount they do not recover at sale.
• Protect employment prospects – Many employers run credit checks on prospective employees. Foreclosure is one of the top items that will put a potential new hire, or even current employment, in jeopardy.

These are the top reasons, but there are more. An expert short sale specialist agent can give a full picture of the options.

One more tip. Don’t believe everything you read about how long short sales take and how few get finalized. Short sale timelines, while still longer than normal, are shrinking as lenders get their paperwork act together. Find out who the top short sale agents are in your market. These pros are closing 70 to 90 percent of the short sales they represent—more than three times the national average. They know where to find buyers, and how to negotiate the buyer’s offer effectively with lenders and get the deal closed—so the homeowner can move on with life and recover.

What Is My Home Worth?

Knowing what your home is worth is an absolute necessity when you're thinking of selling your home.  It can also be helpful to assure you're home value is being assessed properly for property taxes, but for this article we'll concentrate on the valuation of your home for selling purposes.

Whether you are selling by owner, or hiring a Realtor, pricing your home properly is the most important component.  Of course, condition, location and the economy are also factors, but proper pricing that accounts for these other aspects will sell your home.  If you take away nothing else from this article, remember this:

"Any home that is properly priced and marketed will sell in ANY real estate market."


So, that leads us to the main topic...what is my home worth?  How do I determine my home value to get my home sold quickly?


The easiest way is to have your home appraised.  Appraisals cost around $300 to $400, but may be worth the investment, if it'll help you price your home properly.  This is a great option for someone selling by owner. If you're planning on hiring a real estate agent, the agent will provide you with a market analysis to determine the right price to list your home.

When you're interviewing for real estate representation, I advise that you speak to at least 2 Realtors before deciding to hire an agent.  You want to make sure you're hiring someone that won't just tell you a price that you want to hear, to get the listing.  So, having more than one pricing opinion can prove helpful.  The best way to determine this is to ask questions, such as:

1. How many listings do you sell per year?
2. What is the average days on market for your home listings?
3. What percentage of the list price vs. sales price do your listings sell for?
4. How do these statistics compare to the statistics in my community?

These questions will help you piece together how well the agent prices their listings, and most importantly, how well they do in closing the deal.  Be sure to have the agent show you how they arrive at their pricing opinion and show you a side-by-side comparison of your home with the most recent sales near your home. 

If you have any questions about property valuation and you want to find out what your home is worth, please feel free to contact me anytime.

Broadview Heights, Ohio Real Estate and Information Source

City Information and History

Broadview Heights, Ohio, in Cuyahoga county, is well situated between Cleveland (15 miles) and Akron (20 miles), at the crossroads of Ohio's east/west and north/south highways.  Broadview Heights boasts of its award-winning schools, fine recreation programs, and great city services.  Due to our central location and easy access to freeways, residents can travel to the airport and just about anywhere in Cuyahoga County within just 30 minutes during non-rush hour periods.  According to the 2010 census, 19,400 people reside in the Broadview Heights city limits.

Indians occupied the territory known as Broadview Heights until 1811, when the first white man, Seth Paine, settled there.  He was sent by Colonel John Breck as a surveyor of the land and was given a compensation of 200 acres. The land that Colonel Breck surveyed was called Brecksville Township, and today the cities of Broadview Heights, Brecksville and North Royalton make up the land. The township consisted of 21.28 square miles, and it was sold for $1.52 an acre.

A plank road was constructed from Wallings Corners to the Cleveland city limits in 1829.  On November 30, 1926, a vote was held to recognize the village of Broadview Heights. The results were 101 people for and 7 against the new village. A few years later the residents built a city hall and established a part-time Fire Department.




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Real Estate

Residents like Broadview Heights because of its country-like atmosphere and its convenient location. The city has homes and neighborhoods to suit most budgets and life styles – whether you are newly married or an empty nester, have a growing family, or are an executive with large space needs. Condominium prices range from $60,000 and up, and homes range from $120,000 to over $1,000,000. The Metro Parks and Cuyahoga Valley National Park are literally a few minutes away. They offer picnicking, hiking, bicycling, fishing, skiing, and unspoiled nature.

Broadview Heights is a considered a desirable Cleveland area suburb.  The current real estate market data for the city can be viewed below, which is great information if your looking to buyer or sell a home in Broadview.  Also provided is full access to all current listings for sale in Broadview Heights.

Current Broadview Heights Market Data

Homes For Sale In Broadview Heights

Helpful Area Links



City Government Website

Demographics

School Ratings

School Board

Area Attractions

Weather Forecast

Utility Providers/City Services

Nearby Shopping, Restaurants, Hospitals, Parks, and more

Impact of US Debt Downgrade on the Real Estate Market

Chief Economist for the National Association of Realtors, Lawrence Yun, discusses the impact of the US debt downgrade on the national real estate market.

See Video Here

Selling For Sale By Owner vs. Using a Realtor

In every market and every economy, there are always home-owners that opt to market their homes "for sale by owner."  As a real estate agent, I pay close attention to the market, including these homes. 

In my opinion, I think owners should explore the option of selling their home by owner.  The main reason owners try to sell on their own, is to save money on the commission.  I understand that this can be an expense someone would like to avoid, but on the average, homes sold by owner sell for more than 10% less than a home sold by a Realtor. Successful home sales by owner make up a very small piece of the entire sales market, so you should know the facts before taking this endeavor head-on.


Here are some statistics for the National Association of Realtors:

For Sale By Owner (FSBO) Statistics
FSBOs accounted for 9% of home sales in 2010. The typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales.

FSBO Methods Used to Market Home:
• Listing on Internet . . . 27%
• For-sale-by-owner Web site . . . 11%
• Yard sign . . . 46%
• Friends/neighbors . . . 39%
• Newspaper ad . . . 12%
• Open house . . . 14%

Most Difficult Tasks for FSBO Sellers:
• Getting the right price . . . 23%
• Preparing/fixing up home for sale: 18%
• Selling within the planned length of time: 14%
• Having enough time to devote to all aspects of the sale: 13%
• Understanding and performing paperwork: 10%

Of that 9% of national home sales, approximately half of those sales are made to a family member or friend.  So, unless you know someone close to you that already wants your home, you have your work cut out for you.  In fact, even the Founder of ForSaleByOwner.com recently sold his home with a real estate agent.


I don't know how accurate these statistics are, but from my experience, homes sold without an agent involved are very few and far between.  If you do move forward with selling your home by owner, here some tips, insights and advice to give you the best chance of success.

• Price your home correctly for the market from the start.  Research home sales within a 1-mile radius that are the most similar to yours. Look at your home as a buyer, not as the owner, and give an honest evaluation.  It will save you a lot of time and money.  Buyers looking at homes in the area, learn the values quickly.  If you're over-priced, home-buyers will simply choose another home to purchase.

• Advertise!  The internet is your biggest source for buyers.  Over 90% of home-buyers use the internet to find their home and 87% use a Realtor. That said, you may want to get your home into the MLS. In addition, use as many home sales sites as possible. My real estate team and I advertise on nearly 300 sites!  Choosing the right sites, will bring the right kind of inquiries.  Newspaper ads produce low response rates for the expense.

• Make yourself available to have your home shown at anytime.  Turning down a showing could lose a sale and extend the time you'll have to market your home.  There are a lot of homes for sale, and buyers will typically just move on to other options.

• Pre-qualify your potential buyers.  Before you schedule an appointment to show your home, make sure they're approved to finance your home. This will save you time, in addition to ensuring you're working with an actual buyer, and not just letting some stranger into your home with no intent or ability to buy.

• Complete the required Residential Property Disclosures and have them ready for buyers to review.

• Contact a local title agency and/or real estate attorney to draw up the proper paperwork and complete the transaction.  It is imperative you have the proper paperwork to write up the final agreement and account for all aspects of the deal's contingencies.  Making a paperwork error can be very costly!

My final word of advice is that before you decide to sell your home by owner, interview a couple real estate agents.  First, it'll give you the ability to evaluate whether the commission fee will pay for the time and expense (marketing, attorney fees, etc) incurred by selling yourself. Second, you may be surprised to find the Realtor is flexible on the commission. Third, you may find a potential agent to list your home in the future, if your efforts by owner don't turn out as you hoped.

North Royalton, Ohio Real Estate and Information Source

City Information and History



North Royalton, Ohio, in Cuyahoga county, is south of Parma, Ohio and about 12 miles south of Cleveland, Ohio. It borders Strongsville to the east, Broadview Heights to the west.  The city benefits from easy access to the nearby cities and towns within the Greater-Cleveland metropolitan area. There's a considerable amount of shopping and restaurant options available, and great metroparks access.  North Royalton contains a population of approximately 32,500 people.



The township of North Royalton was formed in 1818. It was named Royalton after the town of Royalton in Vermont. The name was changed to North Royalton between 1880 and 1890, since another town in Ohio had the same name. The township became a Village on April 4, 1927. The City Hall of North Royalton was built in 1937 and in January, 1961, North Royalton was reincorporated as a city.





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North Royalton is a considered a desirable Cleveland area suburb.  The current real estate market data for the city can be viewed below, which is great information if your looking to buyer or sell a home in North Royalton.  Also provided is full access to all current listings for sale in North Royalton.























Helpful Area Links



City Government Website

Demographics

School Ratings

School Board

Area Attractions

Weather Forecast

Utility Providers/City Services

Nearby Shopping, Restaurants, Hospitals, Parks, and more

Neighborhood Spotlight: Timberlane Estates, North Royalton, OH

Timberlane Estates in North Royalton, Ohio is located off of Boston Rd and can be accessed on Fawnhaven Dr and Evergreen Trail.  The development is within reasonable distance to I-77, 71, 271 and the turnpike. There are multiple shopping locations, and it's within 20-30 minutes to downtown Cleveland and the Cleveland International Airport.  For the horse-lover, there are horse stables just east of the development.

The development consists of over 60 custom-built homes, constructed by various area home builders. This mix of builders creates a collection of home styles and sizes that makes the development landscape interesting and unique.  There are some vacant lots and new construction is still available.

Homes currently listed and recently sold have been in a price range between $345,000 to $529,000. Values in Timberlane range from the mid $300's to upward of $1,000,000, with a majority of the homes in the $400-$600's.  The homes are typically 2,800 sq ft or more, situated on lots that are near or in excess of a 1/2 acre.  Timberlane Estates is part of the North Royalton school district.

The homeowner association fee is $120.00 annually.

Feel free to Contact Me anytime for more information.



Google Map of Timberlane Estates Development


Search for North Royalton Homes Currently For Sale

City of North Royalton Website

North Royalton School Ratings

North Royalton Demographics

Residential Property Disclosure Law in Ohio

When listing your home for sale or rent, you and your real estate agent are required to disclose all facts materially affecting the value, safety and condition of the property which are known only by you.  This is done by completing a four page Residential Property Disclosure Form.

The Residential Disclosure Law in Ohio requires the seller of a home to disclose to possible buyers information pertaining to the visible (patent) and non-visible (latent) condition and defects of the home.  The seller must complete the form to the best of his/her knowledge and the buyer acknowledges they have received and reviewed the form by signing and dating it, as well.

Disclosures should be provided to the buyer before executing an agreement to purchase. There is no penalty to the seller if the disclosures are given after the entering into a contract, but the buyer may have the right to rescind the contract even after entering into a contractual agreement with the seller.

The Buyer would have 3 days to rescind the contract without penalty, once the disclosures are delivered, if done so after an agreement is formed. Should the Seller simply not provide a Disclosure, the Buyer has 30 days from the execution date of the contract, or until escrow closes, whichever comes first, to rescind the contract without penalty. 

For additional information about Ohio residential property disclosure law, you should consult with an attorney.

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Here are some notes and advice relating to disclosures and home condition:

1. If you want to get top dollar for your property, you probably need to make all minor repairs and selected major repairs before going on the market.  Just don't overdo it on repair costs and price yourself out of the market.

2. During a buyer's inspection, environmental hazards may be uncovered, such as radon gas coming from the basement, asbestos, peeling lead based paint, leaking in-ground oil tanks, mold, etc. These are issues that the buyer or mortgage lender will probably want repaired before allowing the purchase to close.

3. In Ohio, you need to disclose that a previous inspection revealed a defect. Inspection reports are material facts and must be disclosed, even if you obtain other reports to contradict those findings or you question their accuracy. In addition, if your agent has knowledge of the negative report, he or she must disclose that fact to subsequent buyers even if you decide not to amend your form.

4. If the property condition changes after you have given the Disclosure Form to a buyer, the Disclosure Law in Ohio says the seller "may" amend the disclosure form in this situation, but does not require you to do so. If you do provide a buyer with an amended form after you enter into a purchase contract, the buyer then has three (3) business days from the date he received your amended form to rescind the contract.

5. Anyone selling or leasing residential real property must provide the form whether they are being represented by a REALTOR or selling the home on their own. For the purposes of the law, residential real property is defined as "real property that is improved by a building or other structure with one to four dwelling units."  This is also the case with a Lead Paint Disclosure Form.

Keller Williams Realty: Top Workplace in Northeast Ohio in 2011

I have always believed in the notion that "happy workers make for happy clients."  With that being said, the Cleveland Plain Dealer newspaper named Keller Williams Realty the best place to work in Northeast Ohio (Cleveland, Akron, Medina, Lorain areas) in 2011.  Not only Keller Williams top the list, the company and it's 13 area offices, it is the only real estate company in the top 100.  That says a lot in the current economic and real estate market...

Keller Williams Realty is the fastest growing real estate company in the nation, which now has nearly 700 offices and over 77,000 agents.  This makes Keller Williams the second largest real estate company in the country, looking to close-in on number one.

So why is Keller Williams preferred over other real estate companies?  Because they have developed a real estate model that supports and educates it's agents, allowing them to be better prepared to meet their clients' needs.  Agents are free to run their own business, without interference, and have full access to numerous company-sponsored training and education opportunities to stay informed in this ever-changing industry.  Essentially, Keller Williams provides all of the tools to succeed, and in turn, the agents dictate how they use those tools to forge their success and best serve their clients.

I am proud to say that I am an agent with this great organization, and I can fully understand why Keller Williams was named the best workplace in Northeast Ohio.  I welcome you to Contact Me anytime to discuss the company and my experiences anytime!

Neighborhood Spotlight: Macintosh Farms, Broadview Heights, OH

The Macintosh Farms development in Broadview Heights, Ohio is a planned community situated off of Broadview Rd (Rt 176), which consists of condominiums, cluster homes and single family homes. Most of the condos were built from 1986 to early 1990's, while the single family and cluster homes were constructed from 1995 to the early 2000's.  There are multiple entry points into the development, one on Fireside Trail and the other two entries are on Macintosh Lane, which is the horseshoe-shaped road that is at the heart of the development. 

The community is situated between Cleveland and Akron, and within minutes of four major highways. Residents enjoy the benefits of three swimming pools, a recreation barn, an outdoor amphitheatre, walking trails, tennis and basketball courts, stocked fish ponds and proximity to many nearby golf courses, the Cuyahoga Valley National Recreation Area, the Cleveland Metroparks, and Brandywine/Boston Mills ski resorts.  Macintosh Farms is located in the North Royalton City school district.

Recent single family home sales prices in Macintosh range from the low $200's to the mid $300's, with a square footage range from 2,000 to 4,000 square feet.  The condominiums and cluster sales range from approximately $120,000 to the upper $200's and are from 1,400 to 2,800 square feet.

The homeowner association for all home types is $35/mo.  For single family homes, there are no additional association fees.  The cluster homes and condos have additional maintenance fees, in an approximate range from $95/mo to $250/mo, for landscaping, lawn maintenance and snow removal.

Feel free to Contact Me anytime for more information.


Macintosh Farms Association Website

Google Map of Macintosh Farms



Search for Broadview Heights Homes Currently For Sale

City of Broadview Heights Website

North Royalton School Ratings

Broadview Heights School Ratings

Broadview Heights Demographics

Neighborhood Spotlight: Emerald Woods, Brecksville, OH

Emerald Woods in Brecksville, Ohio is located off of Chippewa Rd (Route 82), with the entry street, Cinnabar Dr, being on the north side of Chippewa.  The development consists of just around 100 homes on four streets, ending in cul-de-sacs.  Emerald Woods is located close to parks, schools, shopping and the center of town.  It is also near I-77, the turnpike, downtown Cleveland and Cleveland International Airport.

Most of the homes here were built in the time-frame of 1992-1995, built on 0.45 - 0.75 acre lots, with most of the homes being 3000-4000+ sq ft. Home sales in Emerald Woods range from the low-to-mid-$300s to the mid-to-upper-$400s.  There are some larger homes in the development that exceed these size and value averages.  The homeowner association fee is currently $75 per year.

Feel free to Contact Me anytime for more information.

Emerald Woods Association Website

Google Map of Emerald Woods




Search for Brecksville Homes Currently For Sale

City of Brecksville Website

Brecksville School Ratings

Brecksville Demographics

Find Local/State Taxes Levied For Any Home Address in Ohio

An aspect of a home purchase that is sometimes overlooked is the amount of taxes that will be paid for a given city, and address.  Everyone knows to look at what the property taxes are, but the other taxes levied usually are not given any attention.

The taxes I'm referring to include:

• Municipal Tax
• School District Income Tax
• Sales and Use Tax

When shopping for a home and deciding where to buy, this may help in deciding where you would like to live and educate you about the taxes you will be required to pay in a given location. 

The link below provides you with the tax rates for any address in the state of Ohio.

Ohio Tax Finder


Please feel free to Contact Me anytime for any further assistance.

Radon In The Home: Facts and Solutions

Whenever I write an offer on a home for clients, and I mention getting a radon inspection, more times than not, my clients ask: what is radon and should I get an inspection? Once I tell them what it is, they usually opt for the inspection. Here's why:

Radon is an odorless, colorless radioactive gas that permeates from the soil and through the cement floor of a home's foundation/basement. It comes from the natural breakdown of uranium in the soil, and it is the second-highest known cause of lung cancer. Radon is present throughout the country in various concentration levels. These levels can vary from state-to-state, city-to-city and even from house-to-house. It can be present in any home, new or old, and it is estimated that 1 out of every 15 homes have elevated levels of radon gas.

The EPA deems that a radon concentration level at or above 4.0 pCi/L to be the point where mitigation should be considered and/or necessary. The average radon levels in homes across the United States in 1.3 pCi/L. The levels in Ohio are considered to be in the moderate to high range for radon (anywhere from 2 pCi/L to over 4pCi/L). The only way to know what levels of radon are in a home is to have the home tested.

Fortunately, homes with elevated radon levels can have the level of radon reduced by having the gas mitigated from the home. There are several methods a contractor can use to lower radon levels. Some of these methods prevent radon from entering the home, while others reduce radon levels after it has entered the home. Reviewing these methods and discussing with a contractor, will help you determine what technique is best for your situation.

Feel free to Contact Me anytime for more information.

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How to Calculate Property Taxes: Medina County, Ohio

If you're looking to buy or sell residential real estate, it is recommended that you know what the property taxes for the home will be, at a given price. This post is being written to demystify the calculation of property taxes, to help you determine this important piece of information.

The first step is to find out what the effective tax rate is for the city/school district in which the home is located. The most up-to-date tax rates for Medina County can be found at:

http://www.co.medina.oh.us/treas/taxrates.pdf

Be sure to choose the rate sheet for residential tax rates. Once you have this figure, you can follow the steps below to estimate property taxes.

How to Estimate Property Taxes:

1. Multiply the market value of the home by 35%
2. Select the effective millage (aka effective tax rate) for the community
3. Place $0.0 in front of the millage amount in Step 2
4. Multiply the result of Step 1 and Step 3
5. Divide by two (2) to get the half-year effective taxes
6. Multiply to result of Step 5 by 87.50% to determine the adjusted current general half-year tax (after 10% rollback and 2.5% credit)
7. Add special assessment, if any apply, to get the total tax bill


Here's an Example:

Tax on a $300,000 home in correct, Ohio (Hinckley School District)

1. $300,000 x 0.35 = $105,000
2. Millage for Hinckley 50.06
3. Millage figure to use in calculation is $0.05006
4. $105,000 x $0.05006 = $5,256.30
5. $5,256.30 divided by 2 = $2,628.15
6. $2,628.15 x 0.875 = $2,299.63 adjusted current half-year taxes
7. Be sure to add any Special Assessment, if applicable

Feel free to Contact Me anytime for more information.

Neighborhood Spotlight: Benjamin Farm, Brunswick, OH

Park Place at Benjamin Farm in Brunswick, Ohio consists of just over 200 homes, and was established in 1994. The development consists of single family homes, most of which being built between 1995-1998 by Pulte Homes. Benjamin Farm is located off of W 130th St, South of Grafton Rd.

The community offers a country-like atmosphere with generous open spaces, private wooded parks, trails, and picnic facilities as well as the added amenity of living just a short drive from downtown Cleveland, highways, shopping and more. Benjamin Farm is located in the Brunswick school district.

Single family home prices in Benjamin Farm range from $200,000-$260,000, with a square footage range from approximately 1,800 to 3,500 sq ft. The home-owner association fee is $140.00 annually.

Feel free to Contact Me anytime for more information.


Benjamin Farm Association Website

Google Map of Benjamin Farm

Search for Brunswick Homes Currently For Sale

City of Brunswick Website

Brunswick School Ratings

Brunswick Demographics

Neighborhood Spotlight: Waterford Crossing, Strongsville, Ohio

The Waterford Crossing development in Strongsville, Ohio is a planned community site, situated west of Pearl Rd, south of Drake Rd and bordered by Boston Rd to the north and Prospect Rd at the furthest west-end of the development. There are multiple entry points into the development, with Waterford Parkway at the heart of the development.

Waterford has a nice mix of cluster homes and single family homes of various sizes and price ranges. The development began in 1994, with most homes built between 1994-1998 by several builders which include Parkview Homes, Pulte, Ream, Latina, among others. New construction is still occurring and available in this community.

The community offers a swimming pool, community center, tennis courts, sand volleyball courts, play ground and beautifully-maintained common green areas. The development is close to the highway, shopping, Cleveland International Airport and within 30 minutes of downtown Cleveland. Waterford crossing is in the Strongsville city school district.

Homes in Waterford tend to range in value from the low $200's into the mid-to-upper $300's, with the estate homes reaching into the $600's. The average home sales figure currently hovers around $350,000. The annual association fee is currently $425, and the cluster homes have a $100/month maintenance fee for lanscaping and snow removal services.


Waterford Crossing Association Website

Google Map of Waterford Crossing

Search for Strongsville Homes Currently For Sale

City of Strongsville Website

Strongsville School Ratings

Strongsville Demographics

How to Calculate Property Taxes: Cuyahoga County, Ohio

If you're looking to buy or sell residential real estate, it is recommended that you know what the property taxes for the home will be, at a given price. This post is being written to demystify the calculation of property taxes, to help you determine this important piece of information.

The first step is to find out what the effective tax rate is for the city/school district in which the home is located. The most up-to-date tax rates for Cuyahoga County can be found at:

http://treasurer.cuyahogacounty.us/en-US/community-tax-rates.aspx

Be sure to choose the rate sheet for residential tax rates. Once you have this figure, you can follow the steps below to estimate property taxes.

How to Estimate Property Taxes:

1. Multiply the market value of the home by 35%
2. Select the effective millage (aka effective tax rate) for the community
3. Place $0.0 in front of the millage amount in Step 2
4. Multiply the result of Step 1 and Step 3
5. Divide by two (2) to get the half-year effective taxes
6. Multiply to result of Step 5 by 87.50% to determine the adjusted current general half-year tax (after 10% rollback and 2.5% credit)
7. Add special assessment, if any apply, to get the total tax bill


Here's an Example:

Tax on a $200,000 home in North Royalton, Ohio

1. $200,000 x 0.35 = $70,000
2. Millage for North Royalton 70.03
3. Millage figure to use in calculation is $0.07003
4. $70,000 x $0.07003 = $4,902.10
5. $4,902.10 divided by 2 = $2,451.05
6. $2,451.05 x 0.875 = $2,144.67 adjusted currect half-year taxes
7. Be sure to add and Special Assessment, if applicable

Neighborhood Spotlight: New Hampton, Broadview Heights, Ohio

The New Hampton development in Broadview Heights, Ohio is a 290-acre community developed by Pulte homes. Most of the 500+ homes were built between 2002-2004, which consists of a mix of single family homes and estate homes, along with some town homes and cluster homes, as well. New Hampton is situated at the corner of Broadview Rd and E. Boston Rd. From Broadview Rd., you would enter the development from Hamilton Dr. From E. Boston Rd., there are entrances at Oxford Dr and Wilmington Dr.

The community offers a swimming pool, play ground, community center and walking/nature trails. The develpoment is close to the highway, golf, shopping, Cleveland International Airport and within 30 minutes of downtown Cleveland. New Hampton is in the North Royalton school district.

Single family home prices in New Hampton range from the low $200's to the mid $300's, with a square footage range from approximately 1,800 to 3,500 sq ft. There is an annual home owner's association fee of $350.

The townhome prices range from the low $150's to $170's, ranging from 1500 to 1600 sq ft. In addition to the annual association fee, the townhomes have a $127/month maintenance fee for landscaping, lawn cutting and snow removal.


New Hampton Association Website

Google Map of New Hampton

Search for Broadview Heights Homes Currently For Sale

City of Broadview Heights Website

North Royalton School Ratings

Broadview Heights School Ratings

Broadview Heights Demographics

Neighborhood Spotlight: Pinestream Development, North Royalton, Ohio

The Pinestream development in North Royalton, Ohio is located on the corner of State Rd and Edgerton Rd, near Briarwood golf course. From Edgerton Rd, you would enter on Waterbridge and from State Rd, you would enter from Riverview. The development is within reasonable distance to 77, 71 and the turnpike.

The development has approximately 150 single family homes with minimum sizes of 2,600 Sq ft for a two-story home and 2,300 sq ft for ranches, with most homes averaging over 3,000 sq ft. The lots range from 1/2 acre to 3/4 acre. Some building sites still remain. The homes are relatively new, most of which were built from 1997-2004, with some newer home still being constructed. Sales over the past year or so have ranged from the $330's to $520's.

Home Owner Association fee is around $100 annually.

Pinestream Association Website

Google Map of Pinestream Development

Search for North Royalton Homes Currently For Sale

City of North Royalton Website

North Royalton School Ratings

North Royalton Demographics


For additional information, please feel free to contact me anytime.

"Shadow Inventory" Definition and Impact

A lot has been discussed about shadow inventory in real estate over the past several months. I want to give a clearer picture of what shadow inventory is and how it affects the real estate market's recovery.

Shadow inventory is defined differently, depending on who you ask. Some consider it to be just foreclosed homes that are not yet on the market. Others also consider homes that have 1st mortgage delinquencies greater than 90 days. Further, the definition can go on to include homes that are to be short sales that are not yet on the market and any homes that have had modified loans (as most of these loans still default after the modification).

Because of the varying degree of what constitutes shadow inventory, the perceived effect of this inventory varies as well. Without going too in depth with how this is calculated by the National Association of Realtors, essentially they use data from Mortgage Bankers Association and Lender Processing Services to account for the number of households that are to be included in this definition. For more about how this is calculated and determined, CLICK HERE and go to page 8 of the publication.

The effects of foreclosure and shadow inventory situation, just like anything else in real estate, vary by location. Arizona, California, Florida and Nevada are projected to be the worst hit by foreclosures. The good news is that overall delinquencies in all but 4 states (Washington, New Jersey, New York and Vermont) declined. The national average for serious delinquencies of 90+ days declined 38%. For detailed breakdown by state, this is a very informative ARTICLE and a good read.

While the number of delinquencies are declining, the amount of shadow inventory as well as distressed properties currently on the market will effect the pace of recovery in the real estate market. These homes are or will be competing directly with homes that are not in a distressed situation, causing these homes to remain on the market for a longer period of time and keep the market value for real estate depressed or stagnant.

Once these distressed properties are cleared out to more "acceptable" levels, then we can expect to see a more thriving real estate market. How long this will take is still anyone's guess, but we are probably looking at a 2-4 year window nationally, depending on the location. The key is to have an economy that continues to improve, resulting in fewer delinquencies, allowing the real estate market to catch up. Fewer foreclosures, of course, would reduce the amount of homes on the market, create a larger demand for non-distressed homes, resulting in quicker sales at a relatively higher sales price.

FHA Mortgage Changes and Current Interest Rates

FHA is raising it's monthly mortgage insurance, effective April 18, 2011. The current mortgage insurance premium is 0.90%. For any loan applications that are assigned an FHA case number on or after April 18th, will be charge and annual premium of 1.15%. What does that mean to you as a buyer?

On a $100,000 loan, this equates to approximately $20.83 more in your monthly payment or about $250 per year. This may or may not seem significant to you, but it will reduce your potential buying power and approval amount. It is also being projected that interest rates may reach 5.5% for a 30 year mortgage by years end.

Fortunately, there is still some time to get you FHA mortgage application before the change takes place. In addition, average mortgage rates dropped significantly from 4.88% to 4.78% on a 30 year mortgage and the average 15 year mortgage dropped from 4.15% to 3.97%. These rates change every day, so locking in your rate when rates drop like this will help you get more home for your money.

So, talk to your mortgage lender soon or feel free to contact me. I can give you a list of lenders that I refer to my real estate clients. I am always available to advise you and help you find and buy the right home.

Making a Successful Offer to Buy a Home

So you’ve found the home you want to buy. Now what do you do? I’ve put together some information regarding the process of making a successful offer on a home.

Research Have your Realtor inquire with the listing agent about the seller’s motivation to sell. Sometimes the listing agent won’t give that information, but my motto is “if you don’t ask, you don’t get.” Your agent can also provide you with information such as the last purchase price, the current mortgage balance, property disclosures, how long the home has been on the market, neighborhood statistics and information, school information, etc. The goal here is to paint a picture of the seller’s situation and position.

Determine the market value of the home This can be tricky. The key is to use the most comparable sales based on location, size, age, and condition. The comparable sales should be within the past six months, like an appraiser would do.

The tricky part is when there aren’t enough sales at all, or the sold homes aren’t very comparable to the home of interest. That is when adjustments (i.e. distance, size, condition, etc.) could be considered. Once comparable sales are obtained, pricing adjustments need to be made, based on what each comparable home has or does not have in relation to the home you want to buy. If done correctly, you should be able to determine the value of the home.

Formulate the offer Now that you have a feel for the market value of the home, it’s time to develop an offer strategy. Buying a home is a negotiation. There is give and take, back and forth until both sides come to an agreement. The important thing is to sit down with your Realtor and run through offer scenarios to determine the starting offer amount and how to end at or below the value you attached to the home. Your agent should not be telling you specifically what to offer, but they can advise you based on the data provided. The buyer must always be the decision-maker.

Submitting the offer This is more than just faxing or emailing the paperwork to the listing agent. Your real estate agent should be able to let you know of the negotiating strategies and points that he/she will use to advocate your position. Your agent should be using the market data, comparable sales and other information that has been gathered to educate the listing agent about the factors considered in determining your offer. If your agent is able convince the listing agent that your offer is reasonable (even if it’s not), the listing agent will be more prone to sell your position to the seller.

By establishing your position and being able to back it up with data can greatly influence the ability to close the deal. This is where your Realtor literally earns his/her money. If this can be properly communicated and negotiated by your agent, you’ll be well on your way to getting the keys to your new home!

What is a Buyer's Agent?

A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. Research by the National Association of REALTORS has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative.

The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer's best interests in mind throughout the entire real estate process. In contrast to attempting to contact multiple listing agents that want to sell their listing for their client (the seller). Also, using a buyer representative keeps the listing agent from acquiring information about your buying position and relaying that information to their client.


A Buyer's Representative Will:

§ Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.

§ Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.

§ Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.

§ Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.

§ Advise the buyer on structuring an appropriate offer to purchase the selected property.

§ Present the offer to the seller's agent and the seller on the buyer's behalf.

§ Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.

§ Assist in securing appropriate financing for the selected property.

§ Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, inspectors, etc.) if these services are needed.

§ Most importantly, fully-represent the buyer throughout the real estate transaction.

Why Your Listing Expired, Why Your Home Didn't Sell

So, has your listing expired recently?  If you have experience with your listing expiring, I’m here to help you understand why your listing failed.  You really need to understand why your home didn’t sell, before relisting, otherwise, you’re risking a repeat result, wasting more of your time and money.  

I recommend thinking back through entire process, from the initial agent interview to the moment your listing expired.  This will help you learn what may have gone wrong.  In the e-book, I offer a number of questions and topics to think about that will help you reflect back through the listing period.

There are five primary reasons homes don’t sell.  Those reasons are:

1. condition,
2. location,
3. poor marketing plan,
4. the agent you selected, and
5. the price. 
With exception of location, all of these reasons are items that you can change.  To successfully sell a home, you must set your home apart from the competition.  The home should be in the best condition possible, priced correctly, marketed extensively and creatively and handled by an agent that has what it takes to manage the process. 

I know you may be discouraged by your expired listing, but please keep in mind:

“ANY HOME THAT IS PROPERLY PRICED AND MARKETED WILL SELL IN ANY REAL ESTATE MARKET!"

Once again, I go into more detail in my expired listing e-book.  To get a free copy of my e-book, simply fill out the form provided at www.expiredlistinghelp.com  and I’ll send it to you immediately.   

I invite you to call me anytime if I can be of further assistance.