US homes are now more valuable than ever

This article comes from http://www.cnbc.com by Diana Olick and talks about the higher prices and the strong demand for homes.

I did find a paragraph in this story that had an interesting sentence.

“That sale price has shifted higher not just because of inherent home
value but because of the mix of homes selling. Currently, more expensive
homes are selling because there is a severe shortage of low-priced
starter homes for sale. Higher volume on the pricier end shifts the
median higher. If rental landlords suddenly dumped a few million
low-priced homes on the market, and they sold fast, that median would
shift lower immediately.”

If rental landlords dumped their medium priced properties  the medium price would change, so what? The prices on medium priced homes are at there peak and would sell fast in the better areas. As a landlord it might be a great time to sell a few properties and cash in on this awesome real estate market. If your home is located in an area that is selling in 60 days or less you might want to consider it.

“”The national housing market remains red hot and shows no signs of
slowing, even as some local markets like the Bay Area have noticeably
cooled,” Gudell said. “But even in areas where the housing market has
slowed, home values are at or very near peak levels, selection is
limited, demand is high and competition is fierce.””

That is another thing that needs to be looked at when you are selling, how many homes are for sale in the area? For example in Strongsville Ohio when a property in the 44136 zip code goes up for sale in the low $200’s it sells very quickly. We looked at one last weekend that was under contract in 3 days. That is a hot market. There are very few nice ones for sale.

“Zillow has come under plenty of fire for its so-called “Zestimates,”
with some homeowners claiming inaccurate readings are hurting their home
values. So, is it absolutely precise? Of course not.”

They are so wrong and buyers look at Zillow and think that they are correct on the values.  There is a lot of variables that one has to take into consideration when coming up with a home value. For example does the home have updated? New kitchen, more bathrooms, Sun room, basement, is it a as is property, or remodeled property? Zillow takes known of this into consideration and often gives the wrong estimate on a properties value.

You have to be licensed and study what each home is worth and why it is worth that price. I always email the appraiser my comps and if we did updating I send the before and after pictures I took of the project. Also send the list of updates that were done. Thank God I have never missed an appraisal. That is what it takes to get a correct value on a home.

Looking at selling your home? Call me I am Brett 216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul.






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Cleveland tops the list as the best Home Purchasing Power

According to a report from https://www.thestreet.com/ by Laurie Kulikowski. Cleveland is a great place to get a nice property for a low price.

There are a lot of different cities that surround Cleveland and they are some of the best places to live in the nation. Let’s go over a few.

Just purchased the home above for a client in North Olmsted that was almost 2500 Sq feet and a full basement. 4 Bedrooms 3 Bathrooms for $220,000.  The home is in a very desirable neighborhood and sits on almost a 1/3 of an acre. Close to all the amenities you could ask for including shopping and even Starbucks.

We also just purchased a home in Hudson Ohio for $260,000 that is located in a Lake and Golf course community. The property is over 1700 sq foot 4 bedroom 2 bath. There is a walk out basement that has about the same sq feet. It has a living room and we will be adding a bathroom and a kitchen for their parents. Homes sale for up to $1 million in this area.
Lake Lucerne is a lake community in Chagrin Falls that has a beach and is close to the downtown area. Chagrin falls is like a postcard city that has all the amenities you will ever need including a playhouse. The falls and scenery are to die for. This home was purchased for $315,000 and is a 5 bedroom 4 bath 3360 Sq foot home. Nice upscale community that screams luxury.
I could go on and on on the great communities you can purchase in Cleveland metro area. The key is getting an agent that understands the areas and is not afraid to get good deals. Two of the homes we purchased were $20,000 under asking. These homes are in hot purchase areas that homes sale quickly in. How do I get them? Call me and I will discuss with you that formula. Call Brett 216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul 

 

 






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Help I can’t get a home!!!!and the Prices!

Getting a home today is a lot harder than it used to be. I am taking a client out tonight to look at some homes. We had four properties to look at and there are only two of those four left. The great thing for tonight is we are seeing there favorite first.

Whether you an investor or home buyer getting a home is harder than it has been in a decade. Homes are going so fast that it is hard to keep up with it.

A lot of people think we are in a bubble type market. That is not the way to think about this market.

One of the reasons is very low inventory and basically the lack of homes. That has a lot to do with no new mid priced home builds for the last decade. Imagine if new mid priced cars were not being built for 10 years. Used Cars would be at a premium and hard to get. The same is true for housing , used homes are hard to get because of the lack of new builds.

The other reason is financing and how hard it is for buyers to get a home. It has eased up and they are starting to release more mortgage programs for buyers.  It had been a very anti home ownership attitude in Washington for the last 10 years. With interest rates going up a bit the mortgage industry is coming back to the market.

Lastly I wanted to mention the prices today, they are what they were in 2006. Imagine if you by a car today at 2006 prices. I looked at the Cadillac Escalade in 2006 and today’s prices. There was a $20,000 difference in prices and they had went up a lot since 2006. That is the way homes are they need new stock to get better pricing in the future.

I noticed that Moreland Hills was building a subdivision that had homes that started in the millions. Phoenix Arizona has the same issue, but they are building like crazy on the out skirts of town.

Getting your home today is harder, but it can be done. I purchased and sold 100’s of home in 2005-2006. Understanding what needs to be done to get a home requires a Realtor who knows the market and watches it daily.  Call Brett 216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul

 






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Real estate CEO: Record-low housing inventory is ‘freaking us out’

This article comes from http://www.cnbc.com/ by Diana Olick that discuss the concern in the lack of inventory in this real estate market. I see it as an adjustment that needs to be implemented in forming a plan for this season of real estate.  Remember the last season of real estate and what you would have done if you knew what you know now.
“”The inventory is reaching historic lows. It’s never declined faster
than it did last month. It’s freaking us out — it’s affecting our
business; it’s limiting our sales,” said Glenn Kelman, CEO of
Seattle-based Redfin, a real estate firm. “We’re going to be fine in
terms of market share, but I think the overall industry for the first
time is seeing sales volume really limited by the inventory crunch.”
That leads to more sales and higher rents with low vacancy rates. Real Estate has many different venues to look at when you are an investor or home buyer. The key is recognizing the trends and understanding how to make money in this low inventory market. Owner carry real estate is another great way to create wealth in this real estate market.
For example a lot of my buyers are looking at homes that need updates and buying them for less and adding their finishing touches to the home. 
“Homes in April sold the fastest since Redfin began tracking the market
in 2010. The typical home went under contract in just 40 days, 10 days
faster than April 2016. As a result, 1 in 4 homes sold above their list
price, which is the highest percentage Redfin has recorded.”
That spells equity in the very near future. I had a Realtor call me last night in Strongsville Ohio and wanted to know if I had any rehabbed homes that I was working on that her client could purchase? She knows that I do that and reached out to me because she needs a home for her client. That is the state of the real estate market right now.
” “Cranes fill the sky in every town, but they’re building office
buildings,” he said, noting that while employment is going up, there’s
no commensurate increase in the number of houses. In fact, he added,
when people do construct housing, they’re opting to build apartment
complexes because tight credit is keeping many would-be buyers out of
the market. “There is so much demand in terms of rent that it doesn’t
make sense to build properties for sale.””
The Dodd-Frank act really effected home ownership for the middle class. I think that the new administration will work on that and get lending going again. Not like in the early 2000’s but reasonable and letting home buyers back into this market. Lets face it you can buy a $70,000 vehicle in one day do the math.
If your looking into the future in real estate, then consider the areas where the population is growing and the housing stock is shrinking. When you looking at buying a home for yourself or as an investment call me, I’m Brett 216-703-5740 Century 21 Premiere and 602-363-6551 EXP Realty and Playa Azul. I get Real Estate Done for my clients 1000+ and counting.  
 






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Paying to much commission to sale your home makes no sense

Why pay more money to sale your him when you don’t need too. Let’s face it the market is hot and homes are selling! Why not put that extra money in your pocket when you sell your home? 95% of all homes are sold by buyers agent not the listing agent.

That is why I have a discounted listing packages in both Ohio and Arizona. They save you money and more importantly get your home sold!

Let’s look at my packages:

First off Arizona I have a full service listing for a flat fee of $2000.  That includes the MLS and taling the property all the way through until closed. We have awesome signs to add to your front door and will take all phone calls.  Of course if we have a buyer we will also sell it ourselves. Our marketing package is state of the art and will get you home seen and shown.

In Ohio I have a discount package that saves you up to $4,000 on a $200,000 home. We also have state of the art marketing program that gets your home sold. I sell a lot of homes in all price ranges.  Just sold a home in Independance fro $290,000 and in Beachwood for $330,000. Understanding the market and assiting in getting your home closed faster.

Call Brett 216-703-5740 Century 21 Premiere 602-363-6551 EXP Realty

 






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Think you’re ready to go on the market? If you haven’t taken care of this task, you’re not..

This informative article comes from http://www.zillow.com/ by Brendon DeSimone that explains some things to consider before you list a home. 


When it comes time to sell your home, you know you’ll need to spend
some time cleaning the carpets, decluttering, and landscaping for maximum curb appeal.
But there’s another key task to add to your to-do list: checking in
with your local government to be sure it has accurate information about
your home.”

“No matter the type or size of your home or where it is, your local
municipality has documentation on it. Both the building department and
the town assessor will have a record about your home. But those records
may not match your home’s reality — and any issues you don’t resolve
could hold up your sale or even kill the deal altogether.”

That is true, adding to anything new in your home without permits can cost you a sell and getting a better price for your home. For example I just got all my plans OK’ed by a city to add a full bathroom to a home. This home had 1 1/2 bathrooms and needed another bathroom to a more functional home. Having approved through the city gets it on the tax records and helps with the appraisal.  Getting the permit and closing it out helps get a better price for that home and gets my client more buyers. 

“Home health and safety issues are the primary concerns of the building
department. Whenever someone applies for a permit, an inspector must be
physically called out to approve and sign off on the work of the
contractor, plumber or electrician.”

All the contractor working on this project have to be registered with the city. This is crucial when your doing projects to go through all the local authorities for the all the rehab you are doing. In Ohio it is very important.  In Phoenix the city do have requirements but not at the level that Ohio does, but you need to check with them always.

”  Often, sellers find that somewhere along the line someone made a mistake
— permits weren’t closed out properly when you assumed they were. These
errors could have been the fault of a contractor, the previous owner,
or even the building department directly.”

That is what my clients hire my services for to ensure that the permits and city requirements are met. I recently helped a client who had some issues with a city.  I called the contractor on that job and helped my client get the home finalized through that city.  We listed and sold the property for them and they were very happy clients.

Cleaning up a home is one thing, getting your property rehabbed is another issue. Make sure that you have a Realtor that understands this side of the business and it will benefit your pocket book! Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona I have Tailored Real Estate Services for all my clients. 






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The Legal Benefits of Using a Licensed Real Estate Agent

Nice informational article from http://www.zillow.com/ by AVVO  that talks about the benefits of using a licensed real estate agent. A lot of home buyers think that they can navigate through and get a better deal without using a Realtor. Nothing could be further from the truth.

If you give an agent who is representing you an instruction with any financial implications (more about what constitutes “representation” below), they are obligated to follow it, even if they strongly disagree — as long as it’s legal and doesn’t contradict a contractual agreement”


This is true and I think that every good Realtor always follows instructions from their clients.  I had a client that had to sale and buy a home.  All the closings had to be on the same day, because he was using some proceeds from the sale of his home to purchase the new home. He gave me strict instructions and I did them.  After we had his home under contract I found them a home they liked and we purchased it. Both closings were finished on the same day and my clients now live in their new property. Behind the scenes I worked with the other Realtors and we formulated a plan and stuck to it. This was a huge benefit for all the buyers and sellers in these two transactions.

Your agent is obliged to put your interests above those of anyone else involved in the deal — including themselves.”

Again another reason to use a Realtor.  Doing all the paperwork and getting the home inspected,appraised, and checking on credit worthiness of all the parties from the open escrow to closing. There is a lot of work done behind the scenes that people do not see.  This takes a lot of time and effort. For example Lori worked to get paperwork in and meet an appraiser at the home for the second time to get some stairs approved. We also had the contractor that could repair the stairs and handled that also. All this had to be done to get this property closed.


Your agent must protect your confidentiality. That means they can’t share any information about you or your situation (without your permission) with any other party to the deal.”


This is a great benefit also. I never ever discuss my clients with anyone. Keeping their information confidential is paramount in a Realtors world.

Realtors also help you enjoy the transaction instead of having to deal with all the aspects. You can focus on the home and what you want for it. They also provide sold properties that match your potential buys so you can make an informed decision. They also usually know the new properties on the market and what homes will be listed soon.

Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

Phoenix Focuses on Rebuilding Downtown, Wooing Silicon Valley….

Phoenix Arizona is finally rebuilding the downtown area to attract start ups from California.  The downtown has been neglected for decades and if that isn’t there your property values will vary in the outer cities. This is great news that they are finally starting to upgrade the downtown area. This article comes from http://www.nytimes.com/ by  

” Some tech start-ups have already been sold: Uber opened a support center for drivers and riders last year, in a building that had stood half empty for a long time. DoubleDutch, a maker of events apps, is opening its first office outside San Francisco nearby.”

That is an excellent sign that Silicon Valley is interested.  Let’s face it with the high cost of living in California getting higher business’s will be looking to relocate. Overhead is a cost every business is looking to cut. These business also tend to bring in higher salaries.

“I don’t want people to move here because we have great golf courses and cheap homes,” Mr. Stanton said in an interview. “What I want is young college graduates from the East Coast moving here, and our college graduates staying here because they see their future here and we have a great urban community.”

The Mayor is right and they need a great urban community and places to live.  Cheap homes I don’t see any in the downtown areas, but that to me is also a solid sign.  I suppose to the California market they are much more affordable though,

It might be hard for many to think of Phoenix as a vibrant urban environment rather than a subdued, sun-baked retirement village. Still, every month or so, the city’s ambassadors are pitching downtown Phoenix to young entrepreneurs frustrated by the high cost of doing business in Silicon Valley.”

Getting the right type of business and retail to the downtown Phoenix market would make housing prices go much higher than they are today.  California is a great place to get the buyers for the downtown area.  I think Phoenix will continue growing the downtown and creating a great urban place to live.  Phoenix is missing a great downtown and that is all that keeps that area from literally going through the roof price wise.

Buying real estate in the areas around the downtown might be what your portfolio is looking for.  We have the resources and knowledge of the Phoenix Metro Areas to get your portfolio up and running faster.  Call Brett for all the details 602-363-6551 West USA Realty

 






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Does Open Houses Sell Real Estate???

When your selling Real Estate open houses are very important to selling a property.  The are many reasons for this and I want to go through a few of them.

Me and Lori do open houses about every weekend on our listings.  It gets people through and you can see what they like about a home and what they don’t. They tell you a lot about the likes and dis likes of the listing.

One example is a property that I had listed, that the backyard looked small. Potential buyers were concerned about the back yard because of a fence that had been placed as more of a art look and a privacy from 1 neighbor.  The problem was is made the back yard look small. When I heard that we attached a picture of the lot on the sliding glass door so that potential buyers could see the size of the lot. This way any buyer could quickly see the size of the lot.

You also have to make sure that your open houses are market correctly and you get interested buyers through your property during the open house hours. Lets face it if you don’t get potential buyers through you won’t have success in that open house. I have some open house that I get 30 plus people through.

Selling houses at the opens also happens.  I was doing an open house in Strongsville and a Realtor came through with some clients.  I explained all the upgrades and of course the backyard.  They wrote a contract and we are currently in escrow on this property.  Having the open house and being able to explain all the updates on the home helped them pick our listing.

You also get all the neighbors over tduring open houses to check the home out and tell you all the benefits of the area.  For example one neighbor told of the parade that went through a subdivision every July 4th.  Another mentioned that their community pool was voted best in the area.  They also mention to their friends about the home and you may get a buyer from that.

Getting a property seen helps get the word out and I have personally sold 4 homes from open houses. When your selling a property make sure that open houses are part of the marketing plan.  Most areas also have broker opens that get local Realtors through your listing.  If they have current buyers or get a buyer that is perfect for your listing.

Call Brett 216-703-5740 Howard Hanna Ohio or 602-363-6551 West USA Realty Arizona.

 






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Existing-Home Sales Rise in April for Second Straight Month.

This article comes from http://www.realtor.org/ by Adam DeSanctis that points out were existing home sales are per region.

Lawrence Yun, NAR
chief economist, says April’s sales increase signals slowly building
momentum for the housing market this spring. “Primarily driven by a
convincing jump in the Midwest, where home prices are most affordable,
sales activity overall was at a healthy pace last month as very low
mortgage rates and modest seasonal inventory gains encouraged more
households to search for and close on a home,” he said. “Except for in
the West — where supply shortages and stark price growth are hampering
buyers the most — sales are meaningfully higher than a year ago in much
of the country.”

The inventory will always be a big factor when it is this low.  In the Phoenix market it is very hard to find anything within 45 minutes of the downtown that is affordable. The inventory is low and there are few areas that you can have new builds.  If you go out more than 45 minutes then you will see the new home subdivisions. I looked at homes that were 1600-1700 SF in Scottsdale that started at $500,000+

In Cleveland Metro the inventory is 500 less homes to sale than last April and sales and homes sales are up 20.3% from last April. This puts a sever pressure on buyers to get homes.  I was doing a open house yesterday and I heard the potential buyers talking on how they have looked at homes and now they are sold. I of course told them to get a Realtor to get the properties in their price range and area faster. The speed of looking for a home is a big factor on if you will get it or not.

“Looking ahead, with demand holding steady and supply levels still far
from sufficient, the market for entry-level and mid-priced homes will
likely continue to be the most competitive heading into the summer
months,” says Yun”

That is a great sign that buyers are trying to enter the market and purchase a home. Realtors are really needed in this market to get the homes in today’s high speed market.

“April existing-home sales in the Northeast climbed 2.8 percent to an
annual rate of 740,000, and are now 17.5 percent above a year ago. The
median price in the Northeast was $263,600, which is 4.1 percent above
April 2015”

You can see our region in the Cleveland Metro area is really up and the prices are going up at a reasonable rate considering today’s market. I had a client in last week that could not believe how nice the homes were in the Cleveland Metro Market.

This is a great time to buy Real Estate to live in or as an investment.  You really know the better areas for equity growth in this type of market. Call Brett to get the best areas for your home and or investment.  Call 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

Please Send me some information on some areas

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