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Tuesday, July 31, 2018
Monday, July 30, 2018
How to Find the Perfect Home
One question a Realtor® is asked often is how to find the perfect home. Finding the right place to call home is important for every buyer and it is a process that should not be rushed. It will take time to find a place that suits a buyer’s preferences and needs but it will be worth the effort. Below are some steps to consider.
Calculate Price Range
One of the first steps should be to talk with a lender who can calculate the price range that you can afford. Just like any major purchase, you should have a budget in mind before you begin your search. It is easy to over reach when purchasing a home because you want to get the best that you can afford now. It is also important to consider the current and future expenses connected with the home so that you do not exceed your means. It is smart for buyers to purchase something that they can easily afford rather than a home that stretches their finances.
Determine the Ideal Location
When purchasing a home, you are not just buying a house but also a neighborhood. It is important that you choose a location that will suit you as well as find a community that you can belong to. The environment surrounding the home should make you feel welcome. You should also consider access to your workplace, schools, family and other amenities.
List Must-Have Features
Another great step to finding the perfect home is to list your must-have features. The number of bedrooms and bathrooms are the preliminary requirements. Go beyond the basics though and think of how you will live in the home. What are your hobbies and what type of spaces will you need to enjoy them? Do you need a basement, garage or large yard? Perhaps it’s a large kitchen or a small space for yoga or reading. Creating a list will help you focus your search.
Get Professional Help
Last but certainly not the least, getting professional help can make your search for the perfect home more efficient. When you know what you want, a Realtor ® can provide you with a concentrated list of properties to consider which will save you time and get you into your perfect home sooner!
Friday, July 27, 2018
Thursday, July 26, 2018
Open Houses!
Open Houses for July 29, 2018
8053 North Chariot, Concord
Open 12-2pm
$324,900
4bd 3ba
7555 Hunting Lake Dr, Concord
Open 12-3:30pm
$359,900
3bd 3ba
7074 Farnham, Mentor
Open 2:30-4:30pm
$185,000
3bd 2ba
9475 Johnnycake Ridge Rd, Mentor
Open 12-4pm
$379,900
3bd 2ba
8240 Talbot Circle, Mentor
Open 1-5pm
$439,900
4bd 4ba
45 Big Rock, Painesville
Open 1-3pm
$244,900
4bd 3ba
Wednesday, July 25, 2018
Tuesday, July 24, 2018
Monday, July 23, 2018
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.
- 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. - 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. - Ability to Price Home Correctly
Trying to sell your home without the use of a Realtor can actually cost you money. Because of the data that Realtors have access to, they are better equipped to make a list price recommendation. By listing too low, you run the risk of losing money but priced too high and you run the risk of delaying the sale and later having to reduce the price. A Realtor has the knowledge and expertise to help you price the home where it will sell quickly and for the most amount of money. In fact, the National Association of Realtors has statistics that show homes sold with a Realtor actually sell for money. - Real Estate Marketing Skills
Marketing is a huge part of real estate. Skilled Realtors know how to market homes with pictures, videos and great descriptors as well as which online sites to post your home to that will drive buyers to your listing. They are also responsible for marketing, arranging and managing open houses and showings. Everyone is busy so it would be difficult for a homeowner to manage six showings on a day they have to be at work. This is why you have a Realtor. - Professional Real Estate Connections
Realtors that have been in the business a long time have a long list of professional connections and contacts. If you come across a need during the sale of your home (inspections, septic repair, etc.), a good Realtor can recommended several professionals to meet these needs. These kinds of things frequently come up during the process of selling a home. Having a Realtor with a pocket full of resources is extremely helpful. - Real Estate Negotiation Skills
A Realtor is very knowledgeable about the entire selling and buying process including the negotiations. Negotiations can be tricky. You do not want to immediately accept your first offer nor do you want to counter an offer at too high of a price that will cause the buyer to walk away from the table. Your Realtor will have experience in negotiations and can give advice and recommendations throughout this process. This can ease some of your anxiety as well as get you more money on the sale. - Facilitate Real Estate Closings
There is a lot of paperwork involved in both buying and selling real estate. It is not uncommon to feel like you are signing your life away. You may encounter state contracts, title documents as well as lender contracts. Fortunately your Realtor can help explain the documents you are required to sign so that you can feel comfortable throughout the process.
Use a Realtor When Selling Your Home. Using a Realtor is the most effective method to sell your home. An agent can help you choose the best list price, market your home, get potential buyers in for showings, negotiate the best deal on your behalf and assist with the closing process. All of these services make a Realtor commission worth it. You have a better chance of selling your home quickly and for more money with a real estate agent!
Friday, July 20, 2018
Thursday, July 19, 2018
Open Houses and Price Reductions!
Open Houses for July 22, 2018
7555 Hunting Lake Dr, Concord
Open 12-4pm
$359,900
3bd 3ba
8053 North Chariot, Concord
Open 2:30-4:30pm
$324,900
4bd 3ba
1044 E 347th, Eastlake
Open 11am-1pm
$99,000
3bd 1ba
34132 Victor, Eastlake
Open 11am-2pm
$149,900 NEW PRICE!
3bd 2ba
1248 Erieview, Madison
Open 11am-1pm
$144,900
3bd 2ba
391 Hyder, Madison
Open 1-3pm
$169,900
4bd 2ba
3886 Deer Lake, Medina
Open 1-3pm
$379,900 NEW PRICE!
5bd 4ba
7074 Farnham, Mentor
Open 2:30-4:30pm
$185,000 NEW PRICE!
3bd 2ba
9475 Johnnycake Ridge Rd, Mentor
Open 1-5pm
$379,900
3bd 2ba
45 Big Rock, Painesville
Open 1-3pm
$244,900
4bd 3ba
53 Jefferson, Painesville
Open 12-2pm
$110,000
3bd 2ba
2150 Kimberly Ct, Wickliffe
Open 12-2pm
$384,000
4bd 4ba
Price Reductions
8528 Cornwall Ct, Mentor
$212,000 NEW PRICE!
1296 E 354th St, Eastlake
$50,000 NEW PRICE!
Wednesday, July 18, 2018
Tuesday, July 17, 2018
Monday, July 16, 2018
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.
Advantages of Buying a Home
- Affordable: The monthly payment on a mortgage is often the same or less than renting even with the taxes and insurance rolled into the payment. The monthly payment will usually remain the same for the entire length of the mortgage as well except when real estate taxes and insurance changes take place whereas a rental amount may increase every year.
- Build Equity: As you pay down your mortgage, you will own more of your home. This is what is known as building equity in your home. Also, if property prices in your area increase, that builds equity as well. One day you can sell your home and realize the equity you have built in your home. There is no such equity built up when renting.
- Personal Preferences: You have more options to customize a home when you own it. If you would like to paint a wall, replace carpet or even perform a major renovation, you will not have to ask permission of the landlord or risk losing your security deposit.
- Potential Income: By owning a home, you have the option to rent out the home if you decide to move rather than selling it. There are several advantages to holding onto a property such as creating monthly income, building additional equity into the property, having security for the future, etc.
Disadvantages of Renting
- Lack of Privacy: Often with renting, there are shared spacing with neighboring tenants. If you are fortunate enough to have no adjoining walls with neighbors, your own separate laundry and a separate driveway, then dealing with the landlord each month for payment and every time there is an issue can seem like a lack of privacy as well.
- Lose Money: Each month it is like throwing money away since you are not building up anything and saving for your future. Each year the rent will increase as well and at the end of 30 years, you will have nothing to show for it.
Buying a Home is a Good Investment. There are really no advantages to renting and no disadvantages to purchasing when you are talking long term. Yes a short term rental especially when moving to a new area may make sense but when considering a long term option, buying a home is a good investment!
Friday, July 13, 2018
Thursday, July 12, 2018
Open Houses & Price Reductions!
Open Houses for July 15, 2018
7555 Hunting Lake Dr, Concord
Open 12-2pm
$359,900
3bd 3ba
8053 North Chariot, Concord
Open 2:30-4:30pm
$324,900
4bd 3ba
1248 Erieview, Madison
Open 2-4pm
$144,900 NEW PRICE!
3bd 2ba
3886 Deer Lake, Medina
Open 1-3pm
$379,900
5bd 4ba
8528 Cornwall, Mentor
Open 12-2pm
$219,900
3bd 3ba
45 Big Rock, Painesville
Open 1-3pm
$244,900
4bd 3ba
601 Sandtrap Circle, Painesville
Open 12-2pm
$111,900
3bd 2ba
2150 Kimberly Ct, Wickliffe
Open 2-4pm
$384,000
4bd 4ba
Price Reductions
9853 Johnnycake Ridge #305, Concord
$500 NEW PRICE!
391 Hyder Dr, Madison
$169,900 NEW PRICE!
Wednesday, July 11, 2018
Tuesday, July 10, 2018
Monday, July 9, 2018
Why a Seller Should Always Counter an Offer
Normally there are two options when an offer is presented on a home. The seller can either accept the offer as presented or counter the offer to terms that are more favorable to the seller. Sometimes though when an offer is considerably lower than the asking price, a seller may feel insulted by the offer and refuse to counter at all. This is a mistake.
Do Not Stop the Negotiating
If a buyer takes the time to write an offer on a home, they are interested. They may want to start the negotiating lower than a seller would like but a seller should never stop the ball from rolling. If a seller refuses to counter an offer citing, “It is too low to even counter”, the buyer may be insulted as well and walk away from the deal. Sometimes buyers like to play the game. Sometimes they want to throw a low ball offer in the first time to see where a seller is at and then they will get reasonable. It is in the seller’s best interest to keep negotiating as long as the buyer is willing to negotiate.
Price Your Home Right
A seller should price their home right to begin with. Buyers are looking at several homes in the same price range so they can tell right away if a home is a good deal or if it is overpriced. If it is marked higher than the current market, the number of showings and potential buyers will be much lower. If a buyer writes an offer, it will likely be lower than the market because they know there are limited prospects looking at the home since it is overpriced. On the other hand, a home priced correctly may have multiple offers on it at one time.
First Offer is Usually Your Best
A seller should try and work with their first offer as much as possible to make it come to fruition. Sellers sometimes feel that since they received one offer, they will receive another offer if this deal does not come together. That is often not the case. Many times a home will sit on the market for months after the first offer dies and the seller will end up selling the home for less than what the first buyer was willing to pay. In addition to the lower sales price, the seller incurred additional months of payments, taxes, insurance, etc.
First 10 Days on the Market are Most Critical
The first ten days a home is on the market is when it will receive the greatest number of showings both online and in person. For this reason, a home that is priced correctly is likely to receive an offer as soon as it is listed for sale. The showings will diminish greatly afterwards so this is something a seller should keep in mind when they put their home on the market.
For all of these reasons, there are only two options for sellers when they receive an offer: Accept or Counter. It is in a seller’s best interest to never stop the ball from rolling!
Friday, July 6, 2018
Thursday, July 5, 2018
Open Houses & Price Reductions!
Open Houses for July 8, 2018
45 Big Rock Dr, Painesville
Open 12-2pm
$244,900
4bd 3ba
2150 Kimberly Ct, Wickliffe
Open 2-4pm
$384,000
4bd 4ba
Price Reductions
9853 Johnnycake Ridge #305, Concord
$600 NEW PRICE!
Wednesday, July 4, 2018
Tuesday, July 3, 2018
Monday, July 2, 2018
Advantages of Buying 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 a 3.50% - 5% down payment either upfront or by the end of the rental term since the buyer needs this amount to put down with traditional financing.
Flexible Financing Terms
Just as the down payment is flexible so can the rest of the terms since the negotiating is between the seller and buyer. So if a buyer has a good sized down payment but only wants to pay the going rental rate and wants to negotiate a lower sales price at the end, it is possible. In addition, a lease purchase option is in fact an option to the buyer. If the buyer chooses not to purchase the property at the end of the lease, they have that right. They often will lose their down payment that they applied upfront or accumulated with their monthly payments as a recourse to the sellers for not completing the purchase.
Raise Credit or Down Payment
A lease purchase option gives a buyer time to correct their credit or raise the funds for a down payment. Sometimes a buyer cannot purchase because they are waiting for a specific time to pass such as with a bankruptcy or for a certain action to happen such as a divorce decree to be filed. A lease purchase option provides a buyer with this needed time while living in the home.
Investor Leverage
Investors can use this type of financing as well. It provides an investor the advantage to use leverage by having control of a property and making a profit from it before they even own the property. It also limits their personal responsibility and liability because the property is not totally theirs yet.
As you can see, there are several advantages for a buyer to use a lease purchase option. A seller will often consider this type of financing if a property has been on the market for a long period of time. It is wise to consult a Realtor to make sure you address all of the key terms and follow the lending guidelines that will eventually come into play. It is also recommended that you have an attorney draw up your lease purchase option so that the language protects you!
Today's New Listings!
34645 Willow Creek Pl, Willoughby - $399,000 1331 Bennett Rd, Madison - $329,900 7165 Hawthorne Dr, Mentor - $274,900 4423 Ashwood Ave...
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9956 Johnnycake Ridge Rd #C2, Concord - $135,000 7651 Thorntail Ct, Concord - $435,000 1370 E 348th St, Eastlake - $159,900 10236 Hoba...
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34645 Willow Creek Pl, Willoughby - $399,000 1331 Bennett Rd, Madison - $329,900 7165 Hawthorne Dr, Mentor - $274,900 4423 Ashwood Ave...
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7249 Button Rd, Concord - $399,900 7768 Jo Ann Dr, Concord - $499,900 34403 Iris Ln, Eastlake - $249,900 SL 109 Bedaos, Mentor - $408...