Advantages of Buying a Multi Family as a Primary Residence

One of the smartest decisions a home buyer can make is to purchase a multi family home as his primary residence. A multi family home is considered a two family, three family or four family property. These are sometimes referred to as duplexes, triplexes and fourplexes. While the purchase of a single family home is a smart investment, there are definite advantages to purchasing a multi family home.

Income Stream
A multi family home provides an income stream from one or more tenants. This is the single largest advantage because it reduces the buyer’s monthly expenses such as the mortgage, taxes and insurance.

Higher Mortgage Qualification
Most buyers assume that the mortgage qualification guidelines will be stricter on a multi family home but many of the guidelines are the same as a single family home and often the income ratio will look better on a multi family. This is because part of the income the property produces can often be counted as part of the new buyer’s income. This means a buyer can usually qualify for a larger multi family home than a single family home.....Read More

How to Use Cap Rates to Determine the Value of a Property

Investing in real estate is one of the fastest ways to grow your wealth in America. As the real estate market begins to climb again, you may be tempted to jump in on the action and buy up properties that are bound to be inside of a booming economic area in the near future. However, before you purchase an investment property, you will want to know a few tips for ensuring your property is inherently valuable.

To truly determine the value of a property, you need to know its capitalization rate as well as the going capitalization rate in the same area on a similar property. All real estate professionals put the capitalization rate above all else when determining whether or not to purchase a property. To obtain the capitalization rate of a property, you must take the net operating income of a property and divide it by the sales price.

Calculate the Cap Rate in 4 Simple Steps: Read More

Open Houses and Lease Purchases

Open Houses for May 01, 2016!

11440 Somerset Trl Concord
Open 12-2pm
$329,900
4bd 2.5ba

6870 Dave Dr Madison 44057
Open 1-3pm
$250,000
4bd 2.5ba

4206 Middleridge Rd Perry
Open 2-4pm
$259,900
5bd 2.5ba

214 Ashtabula Pt Roaming Shores
Open 12-2pm
$93,000
3bd 2ba

Properties Considering Lease Purchase Option

6101 Saint Clair Ave Cleveland
$119,900
Commercial Property on a Corner Lot! Great location in the City of Cleveland on a busy street with good visibility.

6117 Saint Clair Ave Cleveland
$169,900
Commercial Brick Building with Multiple Income Streams! Great location on a busy street with good visibility.

384 East 211 St Euclid
$94,900
Updated Colonial with Old World Charm! Arched doorways and built-ins add to the character of this home. Home has been updated with modern paint colors and white trim.

30056 Euclid Ave #10 Wickliffe
$94,900
Market Square Townhome! Tri-level condominium featuring high ceilings and architectural details such as transom windows and Shaker-style maple cabinets.

My Offer Was Accepted! Now What?

You have spent months looking for the perfect home. You found it, wrote an offer and it was accepted! You already provided your lender with your income and asset statements before you even started looking for a home, so you know you qualify. So what else do you need to do except wait for closing? There are actually several things you still need to do before you can put your feet up!

Inspections.

Loan Application.

Homeowner’s Insurance.

After your offer is accepted, now the hard work begins! Do your home inspections, make loan application and get your insurance in place so that you are ready for closing. Once you close on your new home, then you can sit in your new yard and enjoy the sunshine! Read More

Do Real Estate Teams Hold Agents to Higher Standards?

Real estate teams have become increasingly popular since agents realize that one person cannot do it all. Agents should spend their time on what they do best which is showing properties and writing offers and leave the marketing, compliance and bookkeeping side of the business to others. This separation of tasks makes a team more efficient where the sum is greater than the parts.

 

In addition to being efficient, teams usually have more experience in the field which ultimately leads to routines and guidelines being set which propels the team further and helps their agents reach their full potential. These systems ensure every “t” is crossed and every “i” is dotted which inevitably creates a team with....Read More

5 Things to Know about Homeowner’s Insurance

When it comes to purchasing a home, there is nothing more important to buyers than making sure they know all of the upfront costs associated with the new home purchase as well as the ongoing monthly costs. One thing many first time home buyers overlook is the homeowner’s insurance policy that is needed on every home. Here are some things to know when purchasing homeowner’s insurance.

1. Credit is Important! READ MORE

2. Adequate Coverage! READ MORE

3. Optional Coverage! READ MORE

4. Deductibles and Discounts! READ MORE

5. Prior Claim Checks! READ MORE

As you can see, there are several things to consider when purchasing homeowner’s insurance. Taking the time to ensure you are getting the best policy that is right for you is key since you may not review the policy again for another year or more. Homeowner’s insurance is just one piece of the puzzle when purchasing a home, but it is an important one!

 

Curb Appeal Affects Real Estate Sales

The first thing a buyer notices when they pull up to a home is the curb appeal. The home’s exterior including the siding, windows, garage door, front door and roof as well as the landscaping, decks and patios all need to show well!

More Showings

 

Having great curb appeal will create more showings on a property. Real estate is often a numbers game, meaning the more people that see a property, the more likely it will sell. Some buyers may decide not to even go into a property if they...Read More

Steps to Take to Invest in Real Estate

Investing in real estate is a popular way of creating wealth. Some investors prefer to buy a property and hold on to it until its value appreciates. Others prefer to purchase a property, improve it and resell it for a profit in a short period of time. Regardless of the techniques, real estate investment has a number of benefits.

Choose Investment Type

It is important to decide what property type you would like to focus on such as single or multi-family homes, commercial properties or vacant land. You also need to decide whether you want to own property yourself or if you want to invest in a real estate investment trust (REIT). If you like the idea of investing in real estate but you do not want to have to deal with the actual properties, then.....Read More

Open Houses, Price Reductions & Lease Purchases

Open Houses for April 24, 2016!

8795 Dogwood Ln Mentor
Open 12-2pm
$425,000
6bd 4.5ba

8893 Perkins Dr Mentor
Open 2pm-4pm
$239,900
4bd 2.5ba

4206 Middleridge Rd Perry
Open 12-2pm
$259,900
5bd 2.5ba


Price Reductions

4836 Forest Rd Mentor  
$89,900 NEW PRICE!

8893 Perkins Dr Mentor
$239,900 NEW PRICE!

Properties Considering Lease Purchase Option

6101 Saint Clair Ave Cleveland
$119,900
Commercial Property on a Corner Lot! Great location in the City of Cleveland on a busy street with good visibility.

6117 Saint Clair Ave Cleveland
$169,900
Commercial Brick Building with Multiple Income Streams! Great location on a busy street with good visibility.

384 East 211 St Euclid
$94,900
Updated Colonial with Old World Charm! Arched doorways and built-ins add to the character of this home. Home has been updated with modern paint colors and white trim.

30056 Euclid Ave #10 Wickliffe
$94,900
Market Square Townhome! Tri-level condominium featuring high ceilings and architectural details such as transom windows and Shaker-style maple cabinets.

Is Building a New Home a Better Value than Buying an Existing Home?

Anyone who is on the market for a new home has asked themselves this question. Should I buy an existing home or build my own home? This can be a tricky question to answer and each individual will have a different point of view. Let’s take a look at the pros and cons for each option in relation to Value.

Pros to Building a New Home

• Everything is New
• Custom Design
• Utility Savings

Cons to Building a New Home

• Double Payments
• Building Costs

Pros to Buying an Existing Home

• Cost Approach

Cons to Buying an Existing Home

• Repair Costs
  
  Read Full Article
  
  

Steps to Take When Purchasing Vacant Land

Purchasing vacant land is completely different than purchasing a home. Buyers will often walk a lot and if it meets their criteria as far as level, wooded, position on the street, etc. then they are ready to purchase. When a buyer is considering a vacant land purchase though, they should do their due diligence to make sure there are no hidden defects or obstacles that could affect the future value, the possibility of building, the cost to build, future liabilities, etc.

1.) Soil Evaluation: Evaluate soil suitability, grading, drainage and other soil matters.
2.) Zoning and Land Use Regulations: Check with the local zoning department to see what is permitted to be built on the land.
3.) Survey: Have property surveyed for... Read More

The Best Home Improvement Projects

With the housing market rebounding, now is the time to invest in your most valuable asset. It is worth noting that certain renovation projects will bring a larger return on investment yet most projects will not provide a 100% return. This means that while you are adding equity to your property, you may not necessarily recoup all of the money spent renovating it. There are many reasons for this but it comes down to the fact that buyers are considering the whole package and not just one particular aspect.

That being said, here are projects that are worth the investment. These figures are based upon a report by Remodeling Magazine and are.....Read More

Open Houses, Price Reductions & Lease Purchases

Open Houses for April 17, 2016!

11380 Pelican Cv Concord
Open 11-1pm
$200,000
3bd 2ba

11440 Somerset Trl Concord
Open 12-2pm
$329,900
4bd 2.5ba

8795 Dogwood Ln Mentor
Open 12-2pm
$425,000
6bd 4.5ba

4836 Forest Rd Mentor  
Open 12-2pm
$89,900
3bd 1.5ba

8893 Perkins Dr Mentor
Open 2:30-4:30pm
$239,900
4bd 2.5ba

4206 Middleridge Rd Perry
Open 2:30-4:30pm
$259,900
5bd 2.5ba


Price Reductions

11380 Pelican Cv Concord
$200,000 NEW PRICE!

4836 Forest Rd Mentor  
$89,900 NEW PRICE!

8893 Perkins Dr Mentor
$239,900 NEW PRICE!

Properties Considering Lease Purchase Option

6101 Saint Clair Ave Cleveland
$119,900
Commercial Property on a Corner Lot! Great location in the City of Cleveland on a busy street with good visibility.

6117 Saint Clair Ave Cleveland
$169,900
Commercial Brick Building with Multiple Income Streams! Great location on a busy street with good visibility.

384 East 211 St Euclid
$94,900
Updated Colonial with Old World Charm! Arched doorways and built-ins add to the character of this home. Home has been updated with modern paint colors and white trim.

30056 Euclid Ave #10 Wickliffe
$94,900
Market Square Townhome! Tri-level condominium featuring high ceilings and architectural details such as transom windows and Shaker-style maple cabinets.

Questions to Consider When Relocating

No doubt, relocating causes butterflies but often it is difficult to determine if they indicate excitement and anticipation or nerves and cold feet. Giving yourself a few questions to consider when relocating might assist in resolving the issue. Listing out your considerations on paper helps make the decision.

Can you afford the move?
Take time to lay out your budget. Consider actual moving costs but also the cost of living in the new location. Whether or not your new salary will cover expenses in the new area requires doing the math. Is your family on board? The unity of mind with a spouse or significant others goes a long way in providing a successful relocation. On the converse, the lack of it can prove miserable. Consider what this move means for... Read More

Can I Write a Purchase Contract on a FSBO Property?

A seller is advertising that his home is for sale without the assistant of a real estate agent. This is known in the real estate community as a property that is For Sale By Owner or FSBO. As a real estate agent, you have been showing a buyer several properties on the market but cannot find the right one. You learn of this property and determine that it may meet your buyer’s needs. How can you show this property and possibly write an offer on it if it is not listed by another real estate agent?

Inform Buyer
It is possible to sell a FSBO property but the first step is to talk with your client and explain the process. Let your buyer know that the seller has to approve the showing and agree to sign an agreement to work with us before we can show the property.

Contact Seller
The next step is to call the seller and let him know that you are a real estate agent and you represent a buyer who may be interested in purchasing the home. Ask if....Read More

Can I Buy a New Home Prior to Selling My Existing Home?

Should I sell before I buy or should I buy before I sell? This is a common question from current homeowners who would like to move. Sellers are nervous to sell first and then not be able to find a new home that meets their needs. They are also nervous of finding the home of their dreams and purchasing it before they sell and then having two mortgage payments until their first home sells. Let’s explore the advantages of buying a new home prior to selling your existing home.

Time to Move
One of the advantages of buying a new home prior to selling your existing home is that you will have plenty of time to get the new home ready to move into with updates such as painting and new flooring prior to actually having to move in. This is a nice option rather than having to do the updates while.....Full Article

Should I Buy or Continue to Rent?

If you are contemplating purchasing a home, there are a few things to consider. Can you afford to purchase? What are the advantages and disadvantages?

Can I Afford to Purchase a Home?

The question of whether to buy or rent ultimately comes down to the position that you find yourself in financially. If you are currently renting a property and you are interested in possibly owning your own home, you should meet with a mortgage professional to see if it is viable option for you. Owning a home may be less expensive than you think especially with the low mortgage rates that are currently available. There may be options for a low to zero down payment as well and even rent-to-own options....READ MORE

Open Houses & Lease Purchases

Open Houses for April 10, 2016!

7906 Butterfly St Concord
Open 2-4pm
$469,000
5bd 3.5ba

6870 Dave Dr Madison
Open 12-2pm
$250,000
4bd 2.5ba

1546 Grove Ave Madison
Open 2:30-4:30pm
$199,900
3bd 2.5ba

8795 Dogwood Ln Mentor
Open 12-2pm
$425,000
6bd 4.5ba

8893 Perkins Rd Mentor
Open 2:30-4:30
$250,000
4bd 2.5ba

400 Morgan Dr Painesville
Open 12-2pm
$197,400
3bd  2.5ba

4206 Middleridge Rd Perry
Open 2:30-4:30pm
$259,900
5bd 2.5ba

Properties Considering Lease Purchase Option

6101 Saint Clair Ave Cleveland
$119,900
Commercial Property on a Corner Lot! Great location in the City of Cleveland on a busy street with good visibility.

6117 Saint Clair Ave Cleveland
$169,900
Commercial Brick Building with Multiple Income Streams! Great location on a busy street with good visibility.

384 East 211 St Euclid
$94,900
Updated Colonial with Old World Charm! Arched doorways and built-ins add to the character of this home. Home has been updated with modern paint colors and white trim.

30056 Euclid Ave #10 Wickliffe
$94,900
Market Square Townhome! Tri-level condominium featuring high ceilings and architectural details such as transom windows and Shaker-style maple cabinets.

7 Reasons You Should Use a Realtor to Sell Your Property!

Many people question the value of a Realtor often wondering if the commissions they receive is worth the time and effort they put in. The simple response is Yes! There are several reasons why Realtors should be used to sell a property.

1. Local Real Estate Knowledge
   A great Realtor has a lot of knowledge about the local real estate market. They have an understanding of and can provide you with a realistic parameter of what you can expect to sell your home for. They have access to the Multiple Listing Service (MLS) which holds data that can provide you with the sales of comparable homes in the area. It is imperative that your Realtor know what is going on in your area so that they are able to better determine the best plan of action to sell your home.
   
   
2. Real Estate Experience
   Realtors have experience selling homes and have an idea of what sells and what does not. While you may think that your sunflower border in the kitchen is adorable, your Realtor is likely going to tell you that borders are dated and you need to paint the kitchen. These little details can make a huge difference when you sell your home. A good Realtor has an eye for details and can pick out different elements of your house that will stand out to potential buyers. Full Article
   
   

New Agents Should Join a Real Estate Team!

Did you know that 90% of all new real estate agents are out of the business in the first two years due to lack of training and lack of money? Because of this statistic, it is in the best interest of a new agent to join a real estate team to learn all they can while also having business given to them along with their own efforts. Learning systems from a team will reduce your learning curve and having leads provided will produce an income quicker than starting on your own.

Successful Realtors need to consistently market and prospect for new clients while still working in their business and handling all that is required with the listing and selling of properties, the showing of buyers, meeting home inspectors, following up with lenders, etc. A real estate team provides a structure to ensure that all the various tasks are covered including .. Read More

Do I Need a Realtor When Buying a Home?

You are ready to make the big move. You are going to purchase a home and you are asking yourself if you need to employ a real estate agent. You are worrying about the grueling process of finding the right agent so you ask yourself if you should go through the process of buying a home on your own.

Is the real estate process tricky? Will it leave me winded and confused? Is it in my best interest to hire someone who has the appropriate knowledge and experience to navigate through the universe of real estate? The answers to all of these questions are Yes!

Show Full Article

Should I Get Preapproved Before Looking at Homes

If you are looking to buy a home, then you should consider getting preapproved before you even begin your search. There are some benefits of getting preapproved as well as drawbacks for failing to do so.

Benefit of Getting Preapproved
Having a preapproval letter attached to your offer can go a long way to ensure you get top consideration from the seller. This is because some major concerns of the seller are lifted – you are able to pay for the home and you know what the monthly payments will be, so you have all of the financial information you should need to make an offer.

Read Full Article

Fantastic Custom Built Contemporary on the Golf Course!

7391 Mountain Quail Pl , Concord, OH 44077 Quail Hollow's 13th Fairway! Inviting entrance and open floor plan. Family room boasts a wall of windows with incredible views of the golf course, gas/wood-burning fireplace and two skylights. Eat-in kitchen features a large island with generous counter space, a built-in desk and a newer refrigerator, dishwasher and microwave. Spacious dining room with large custom glass door cabinet built into the wall creates a beautiful display case without taking up floor space.

Berkshire Hathaway HomeServices Elite Team 2015!

Berkshire Hathaway HomeServices presents The Zingales Team with the #2 Team in the State Award! I am blessed to work with such a great team!

 

Recent Price Reductions!

11440 Somerset Trl, Concord - Now $329,900 Property provides a great setback with a serene pond and a long winding driveway. Inviting front porch along the front of the home leads to a dramatic two story foyer. Living room and dining room feature lovely crow molding.

Recent Price Reductions!

20358 Lindbergh Ave, Euclid - Now $54,900 Large Colonial with 3 bedrooms and 2 full baths! This home features a nice sized living room, large eat-in kitchen with ample cabinets and counter space, a first floor bedroom with nature-stone flooring and a whirlpool tub and a first floor full bath.

Recent Price Reductions!

2470 Brown Rd, Saybrook - Now $469,900 Newer Colonial on 11 Acres! Three bedrooms and three and a half baths plus a bonus room above the garage.

Visit Cleveland for the Republican National Convention!

Meet The Press stopped by Cleveland Ohio and found what we all know! We Rock! This is a city with everything a person can ask for. Incredible restaurants! A gorgeous lakefront! Fantastic night life! A large theater district! The best hospitals in the country! Over 10,000 people now live in downtown Cleveland.

One of the biggest draws is our lakefront and many take advantage of all it has to offer. In the summer many boaters dock behind the Rock and Roll Hall of Fame at the Rock & Dock Marina. Cleveland is also known for its three major sports teams; Cavaliers, Browns and Indians. Each has their own arena which defines our skyline and brings in visitors from all over the region and the country. Our sport teams contribute to our businesses, our energy and our overall success.

The real estate in downtown Cleveland is booming as well. There are new condominiums and apartments being built to handle the demands of people relocating to the downtown Cleveland area. These consist of owner occupied properties as well as rentals. The area does a great job in supporting its residents with conveniences normally found in the suburbs such as a gym, dry cleaning services as well as a fantastic fresh market. The West Side Market offers fresh foods and specialty items and attracts visitors from all over.

Residents and Visitors love Downtown Cleveland! Please click here and watch the video from Meet the Press. The convention will be held at Quicken Loans Arena in downtown Cleveland, Ohio. If you are looking for a place to stay, take a look at the Rentals currently available!

Ranch on Two Acres with a Barn!

14479 Rock Creek Rd , Chardon, OH 44024 4 bedrooms, 1 full bath. Nice size living room with large picture window to let in plenty of natural light. Great location not far from downtown Chardon. Fantastic opportunity!