Price Reductions & Lease Purchases!

Price Reductions

4206 Middle Ridge Rd Perry
$255,000 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.

 

 

Pricing Your Home

Selling a home is no easy feat. There are many factors to consider for a successful outcome such as preparing your home for sale, getting the home’s paperwork together and finding a good Realtor®. The most crucial step towards selling a home however is deciding how to price it.

Pricing your home has a big impact on selling within your timeframe at a profit you are comfortable making. It takes time, thought and patience to reach the right number for your home. If it is priced accurately then you will have the highest chance of getting what it is worth and you will not have to impede the process by constantly lowering your price.

When pricing your home, you must do your research. It is imperative to know exactly how much your home is worth so having a professional appraisal completed on your home is recommended. Knowing this information will give you an idea of what you may be able to get for your home.

Using a real estate agent’s market analysis will also aid you in knowing how to price your property. A market analysis can tell you what....Read More

Advantages of Buying a Multi Family as an Investment Property

Real estate investors often prefer to invest in single family homes because they feel a single family home holds its value, it can demand higher rent and they only have to deal with one tenant. A multi family home is a 2-4 family residence and there are advantages to owning this type of real estate that far outweigh single family rentals.

Multiple Income Streams
Multi family homes offer more than one income source with multiple tenants which provides some stability to the owner should one unit be vacant or one tenant defaults on their rent. With a single family home, if the property is vacant or the tenant does not pay, the owner is stuck handling the expenses on his own.

Cash Flow
Investing in a multi family is one of the most powerful real estate investment strategies that a person can use to create consistent cash flow each month. The rents that come in minus the expenses should provide a...Read More

Should I Consider a Short Sale for My Next Home Purchase?

If you would like to get a good deal on your next home, then you should not rule out a short sale purchase. A short sale is when the seller’s bank will agree to accept less than what the seller owes on their home. This often happens when the seller purchased or refinanced at the height of the market but now the property is not worth as much and the owner cannot sell the property for enough to cover the mortgage. A short sale is a good option to consider when purchasing a home if you are looking for a sound investment.

Reduced Sales Price
In theory, a short sale purchase allows the property to sell at its current market value. Many buyers though are able to purchase a short sale below its value. This is due to the time the property is on the market. Often the initial list price will be set to cover the mortgage which will cause the property to sit on the market for a longer period of time. Once it is reduced to its market value, the property is considered a stale listing and will not have as many showings. The buyer who finally writes an offer will typically offer much lower than the list price. The bank will see how...Read More

Boost Your Resale Value with These Three Inexpensive Renovations

To get top dollar for your home, renovations may be necessary. However, some renovations can prove costly and they do not always add value to your home. Here are three inexpensive renovations that are sure to improve the resale value of your home.

First Impressions Matter
Your home needs to have curb appeal. If the potential buyer does not see that, it will be difficult to get the price you want. Spend money and time landscaping your yard. Pressure wash your driveway. Paint your front door. Make your porch look welcoming. If you do all of this yourself or with the help of family and friends, the costs will be reasonable.

Freshen Up the Interior
After a prospective buyer is impressed by your nicely kept lawn, you will want to continue impressing him/her with your interior design. Buyers know what they want when it comes to the number of bedrooms and baths. You have something they want or they would not be looking at your home. Now, you need to keep their attention. Each room needs to be freshly painted in a neutral color. Old wallpaper and borders should be stripped and walls repainted. Make each room look larger by clearing any clutter. If possible, remove any...Read More

Advantages of Buying Real Estate with a Lease Purchase Option

Buyers who are not able to get traditional financing having another option. A lease purchase option is a type of temporary owner financing in which the owner rents the property to the buyer for a period of time until the buyer can get financing from a bank. Often this time period is for one year or less but sometimes a seller will accept a lease purchase for two years or more depending upon other favorable factors such as a larger down payment, a larger monthly payment or a larger purchase price. It often depends how the financing is structured that will determine the length of time a seller will be willing to offer temporary financing. What are the advantages though to the buyer?

Little to No Money Down
A buyer may be able to structure a lease purchase option with little to no down payment. Of course the normal security deposit and first month’s rent would be required but otherwise the monthly payment could be increased above the going rental rate and this increase can be applied towards the buyer’s down payment at the end of the rental period. It is usually a good idea to make sure the buyer has at least...Read More

Open Houses, Price Reductions & Lease Purchases!

Open Houses for May 22, 2016!
7501 Sarah Lee Dr Concord
Open 2-4pm
$425,000
4bd 2.5ba

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

8795 Dogwood Ln Mentor
Open 1-3pm
$425,000
6bd 4.5ba

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

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

 

Price Reductions

5067 Glenn Lodge Rd Mentor
$49,900 NEW PRICE!

4537-4543 North Ridge Rd
$145,000 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.

 

 

Training is Important for New Realtors®

Having a successful real estate career is not easy. Taking the classes and getting licensed is the easy part but to truly be a success takes training. A Realtor® who does not have good onboarding training as well as continued one-on-one training throughout their first year, likely will not survive. The statistics are staggering but 90% of new real estate agents are out of the business within the first two years because they are not trained.

Systems
Training on the systems needed to run a successful real estate business is the first step. A Realtor® needs to know how to write a contract, create a market analysis and market a property in order to be a successful real estate agent. These tools should be learned in advance in order to build confidence in a new agent’s ability and in order to offer good customer service to a client.

Shadowing
One of the best types of training is shadowing an experienced Realtor® on an appointment. There is no better way to learn than by doing or watching another agent in action. This type of training is ofte....Read More

Listing a Home with Divorcing Sellers

Listing a property for sale can be stressful enough when both owners are on the same page but it is even more difficult when the two owners are at odds with one another. The Realtor® is often caught in the middle. What are some things to take into consideration when listing a property for sellers who are divorcing?

Owners’ Consent
All owners of a piece of real estate need to sign the listing agreement unless there is a court order stating that only one of the parties is responsible for selling the property. The listing agent should request a copy of the recorded court order in its entirety and keep it as written proof as to why only one of the sellers signed the listing agreement. An agent should not move forward with listing the property unless they receive this document. If the divorce is not final or if a legal separation has not been filed, then.. Read More

Tips to Secure a Mortgage if You Are Self-employed

If you are self-employed, either as a freelancer or as the owner of your own business, your income can fluctuate greatly from year to year. That can make it difficult to get approved for a mortgage, although there are some things you can do to improve your chances. Here are three tips for securing a mortgage if you are self-employed.

Good Credit Score
While your ability to pay back a mortgage is the most important factor in an approval, your credit score is a close second, and that goes for every borrower, not just those who are self-employed. If you have a credit score in the high range — something above 750 or 760 — it will help you get approved for a mortgage. To boost your score, make sure you pay all bills on time, pay down your debt levels and do not make any new big purchases or apply for new credit soon before you apply for a mortgage.

Large Down Payment
The more money a bank lends you to buy a house, the more risk it is taking on that the money will not be paid back. If you are self-employed and considered a higher risk to begin with, one way you can alleviate some of that risk is to be able to put down a large amount of money. Putting down 20 percent is standard for a conventional loan and you should....Read More

Buying a Condo is Different Than Buying a House

Many buyers assume that choosing to purchase a condominium rather than a house is a decision based upon preference only but there are differences that should be considered.

Home Owners Association
All condominiums come with some type of home owners association. The HOA generally handles common areas such as landscaping, snow removal, exterior of the buildings and amenities such as a swimming pool or fitness center. Not only are there monthly fees required to pay for the maintenance and repair of the common areas but HOA’s normally have rules that need to be followed. Many condos will not allow fences or sheds to be installed and some have pet restrictions. When purchasing a condo, buyers will weigh the costs and restrictions of each HOA versus the benefits they offer. The HOA fees also affect the amount of loan a buyer will qualify for. Often a condo buyer cannot… Read More

Buy a Home and Get Out of the Renting Rut

Renting a home is a good option for some but buying a home just might be the best thing. When you rent a home, you send money to someone else every month in exchange for knowing that you can call on your landlord when the roof leaks, an appliance stops working or your bathroom faucet breaks. There are some big advantages though to buying a home that will improve your finances over the long run.

Build Equity
Did you know that when you rent a home, you help someone else build equity? Any improvement that you make to the property puts money back in the landlord’s pocket. Keeping the yard clean and taking care of routine maintenance builds equity in that property. When you buy a home, you have the chance to build equity of your own, which you can realize when you sell or refinance the property.

Steadier Payments
When you rent a property, the rent will likely increase periodically over time, often once a year. When you purchase a home, often a buyer will...Read More

Open Houses, Price Reductions & Lease Purchases!

Open Houses for May 15, 2016!
7501 Sarah Lee Dr Concord
Open 2-4pm
$425,000
4bd 2.5ba

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

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

400 Morgan Dr Painesville
Open 2-4pm
$197,400
3bd 2.5ba

4206 Middleridge Rd Perry
Open 11:30-1:30pm
$259,900
5bd 2.5ba

 

Price Reductions
500 Hidden Harbor Dr Fairport Harbor
$649,900 NEW PRICE!

5067 Glenn Lodge Rd Mentor
$49,900 NEW PRICE!

214 Ashtabula Pt Roaming Shores
$89,000 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.

 

 

Have You Outgrown Your Current Home? Here Are Five Easy Ways To Tell If It Is Time to Upgrade!

Your home is your castle, your own piece of the American dream. But lately your little corner of the world has been feeling cramped and you find yourself eyeing a larger home. Is it time to pull up the stakes and move on from your starter home?

Growing Family
If you have added to your family in recent years, you may have more people than bedrooms. A two bedroom home may have been a great idea when it was just you and your spouse but with two kids, you are out of space.

Overflowing With Stuff
When every closet is packed so tightly with shoes and coats you risk an avalanche every time you open the door, your home just does not have the space to keep all your things. You may have even had to.. Read More

How Much Should I Offer on a Home?

All buyers want a good deal on a new home purchase but knowing how much to initially offer can be a difficult decision. Too low of an offer may offend a seller causing a refusal to negotiate further. On the contrary, if the first offer is accepted right away, buyers might feel they overpaid for the property. So how does a buyer know what to offer?

Current Market Value
It is important to determine the current market value of a home prior to writing an offer. A buyer needs to know if the seller is asking a fair price for the property or if they are overpriced or underpriced based upon similar properties sold in the same area. This is a great starting point.

Motivation
It is important to determine the seller’s motivation to sell. If the seller has purchased another home, moved already or has had the home on the market for several months, the seller may have a high motivation to sell. A seller with a high motivation may be willing to accept a lower amount. It is also important to determine your.... Read More

How to Negotiate Like a Realtor®

One of the most important qualifications for being a real estate agent is having negotiation skills. Whether the Realtor® is working with the buyer or the seller, it is important to have the charm and the wit to bring a suitable price to the client.

Although a Realtor® has an advantage with a vast amount of negotiating experience, there are some things the public can do to improve their negotiation skills....Read More

How To Calculate Net Operating Income

Net Operating Income is the potential profit of a real estate investment. It is used to determine the value of a piece of real estate that has rental income. Calculating the Net Operating Income is typically performed by sellers to determine a fair list price and it is used by buyers to calculate a suitable offer when considering a purchase.

The actual calculation seems simple at first. Basically you are subtracting the Operating Expenses of the property from the Gross Revenue that is.....Read More

Importance of a Final Walk Through on a Home Purchase

There are many steps to take during the home buying process but one of the most important that is often overlooked is the Final Walk Through.

The Final Walk Through is a quick review of the property just before closing to insure everything is in order. It is not a detailed inspection of the property. It is used to determine that there are no major damages to the property since the buyer agreed to purchase the home.

Ideal Time for a Final Walk Through
The ideal time to perform a Final Walk Through of a property is after the seller has moved out of the home. This is the time to make sure everything that was agreed upon or expected to stay in the home with the sale has remained such as appliances, curtain rods, etc. Vacant properties should always have a...Read More

How Many Houses Do I Need to Look at Before I Purchase?

Every buyer is different and therefore the number of properties a buyer will look at prior to purchasing will be an individual choice. There are some factors to take into consideration though to reduce the number of houses viewed in person yet still feel comfortable that you have done your research and found the best home for you.

Online Search
Many home buyers will start their search online. This is a great time saver. Buyers can quickly get an idea of the types of homes, features and pricing of certain homes in desired areas. Since it often takes 20-30 minutes to go through a home in person plus the drive time to and from each property, it is easy to see why viewing homes online is ideal.

Must-Have Features
Be sure to create a list of your desired features in your new home: the city or area; the number of bedrooms and bathrooms; and if a garage, basement or certain size lot is important. Once you know your must-have features, it will be.... Read More

How Millennials Find a Realtor®

For a considerable period of time the phone was the dominating way to find a real estate agent. The internet then took over as the preferred way. Will the Millennials also known as Generation Y (those born in the early 1980’s to 2000) have different demands?

Since Gen Y has grown up with the internet and smart devices, they are considered to be a different set of consumers. Based on the statistics, the Millennials currently comprise the largest portion of the home buyers in the US at 32%. The Millennials also have been found to put their trust in their Realtor®. At least 90% of them are using Realtors® and 63% of them will maintain a close working relationship with their Realtors® in order to use them again in the future or to recommend them to others who are looking for real estate. Here are some of the ways Millennials are finding real estate agents...Read More