Monday, December 30, 2019

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!

 

Today's New Listings!

29050 Homewood Dr, Wickliffe

8923 Jackson St, Mentor

393 Lucille Ave, Painesville

20B Pine Spring Dr, Painesville Township

20C Pine Spring Dr, Painesville Township

Monday, December 23, 2019

Why Homeowners Should Work With a Realtor

Some homeowners feel they can sell their home on their own since they know their home better than anyone else. Others feel they are contract savvy so they can handle the purchase agreement and disclosures required to complete a sale. Still others feel they cannot afford the real estate commission so they have no choice. Whatever the reason, Realtors have a vast amount of knowledge and experience with the real estate market and different types of transactions that it is in the homeowner’s best interest to use a Realtor to facilitate the sale of their home.

Time is Money
Doing your own research is a tiresome and tedious process that involves going through vast amounts of information. There are hundreds of real estate sites full of information that vary and selecting the correct data may be tricky. Realtors work in the market every day and are already familiar with the sales as well as the differentials that can change or create a comparable sale. Realtors know what your home is worth in today’s market and what to price your home at so that it will sell in a timely manner.

Pricing Your Home Correctly
The real estate market is a fast-passed sector that constantly changes and evolves. Whether you are looking to sell your property or buy a new home, keeping up with all the changes is impossible unless you are a professional who has dedicated his time to the market. Failing to analyze the data may lead to poor and uninformed decisions that will lead many homeowners to price their homes incorrectly. Some are way overpriced causing their property to sit on the market and waste valuable time. Others are under-priced and using a real estate professional actually would pay for itself!

Marketing Your Home
Real estate professionals advertise their properties on hundreds of sites since most buyers start their real estate search online. Marketing a property is key to getting the most visibility and exposure which will give it the best chance to get sold in a timely manner. Homeowners will not have this kind of accessibility.

A Realtor can help a homeowner save time and money when selling their home. According to the National Association of Realtors, in 2013, the typical FSBO sales price was $40,100 lower than a home being represented by a qualified real estate agent. A homeowner cannot afford not to work with a real estate professional!

Today's New Listings!

SL 6 Highland Way, Mentor

5309 Highland Way, Lakeline

613 Reginia Dr, Painesville Township

11660 Jamie Dr, Concord

Monday, December 16, 2019

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!

8960 Riverwood Way, Kirtland

8356 Dartmoor Rd, Mentor

613 E Main St, Painesville

516 Prestwick Path, Painesville Township

10124 Candlestick Ln, Concord

Thursday, December 12, 2019

Open Houses!

December 15, 2019 

8375 Deacon Ave NW, North Canton  
Open 1-3pm
$375,000 
2bd 2ba
Call 330-232-2689

28767 Eddy Rd, Willoughby Hills 
Open 1-3pm
$350,000
3bd 2ba
Call 440-221-0075

305 E 293rd St, Willowick
Open 1-3pm
$250,000 NEW PRICE!
4bd 3ba
Call 440-289-8213

32324 Glen Arden Dr, Willowick
Open 11am-12:30pm
$139,900 
3bd 2ba
Call 440-289-8213

10806 Ellison Creek Dr, Concord 
BY APPT
$415,000 
4bd 5ba
Call 440-296-5006

6517 Fay Rd, Concord 
BY APPT
$540,000 
4bd 4ba
Call 440-296-5006

7550 Sarah Lee Dr, Concord 
BY APPT
$499,900 
3bd 4ba
Call 440-296-5006

6533 Bayside Dr, Madison 
BY APPT
$159,900 
3bd 3ba
Call 440-296-5006

6085 Meadow Wood Dr, Madison 
BY APPT
$184,000 
4bd 3ba
Call 440-296-5006

7969 Oakridge Dr, Mentor
BY APPT
$239,990 
4bd 3ba
Call 440-296-5006

7934 Sharon Dr, Mentor-on-the-Lake   
BY APPT
$222,000 
4bd 3ba
Call 440-296-5006

914 Lloyd Rd, Wickliffe 
BY APPT
$289,900 
3bd 2ba
Call 440-296-5006

Today's New Listings!

7331 Raccoon Hill Dr, Kirtland

8707 Blue Heron Way, Mentor

73 Grand Harbor Dr, Grand River

149 Southbridge Ln, Painesville

3901 Red Creek Ct, Perry

Monday, December 9, 2019

Home Improvement Projects that can Hurt Your Home

Homeowners often renovate their homes to create enjoyment today with hopes of adding value that they can realize in the future. Not every home improvement project will increase the value or sale-ability of a home though. Some projects may even hurt a property's chance of selling. Here are a few home improvement projects to avoid:

Garage Conversion - Do not convert a garage into living space unless you add another garage to the property. You will exclude many home buyers who want a garage.

Combine Bedrooms - Do not combine two bedrooms to create a larger bedroom. This will exclude home buyers who are looking for a certain number of bedrooms.

Wallpaper - Do not wallpaper your home. This is more of a permanent treatment and is difficult to remove. Paint and pictures look just as nice and are easier to change.

Closet Removal - Do not remove a closet to create more space in a bedroom. This will make it more difficult to sell the home and may cause an appraisal issue as well.

Usually home improvement projects will increase the value of a property and help it sell quicker. Sometimes though, it will have the opposite effect. Keep these things in mind when deciding on your next home improvement project!

Today's New Listings!

102 Canterbury Drive, Willoughby

8590 Baker Ave, Mentor

516 Prestwick Path, Painesville Township

486 Prestwick Path, Painesville Township

507 Prestwick Path, Painesville Township

10276 Chipmunk Ridge Dr, Concord

Thursday, December 5, 2019

Open Houses and Price Reduction!

Open Houses for December 8, 2019 

6517 Fay Rd, Concord 
Open 11am-2pm
$540,000 
4bd 4ba
Call 440-525-3331

7934 Sharon Dr, Mentor-on-the-Lake   
Open 11am-1pm
$222,000 
4bd 3ba
Call 440-413-0588

914 Lloyd Rd, Wickliffe 
Open 12-4pm
$289,900
3bd 2ba
Call 440-283-7557

28767 Eddy Rd, Willoughby Hills 
Open 11am-1pm
$350,000
3bd 2ba
Call 440-537-6671

305 E 293rd St, Willowick
Open 11am-1pm
$259,900
4bd 3ba
Call 440-289-8213

11130 River Rd, Chardon
BY APPT
$829,900 
Call 440-296-5006

10894 Thwing Rd, Chardon 
BY APPT
$245,000 
4bd 2ba
Call 440-296-5006

10806 Ellison Creek Dr, Concord 
BY APPT
$415,000 
4bd 5ba
Call 440-296-5006

7550 Sarah Lee Dr, Concord 
BY APPT
$499,900 
3bd 4ba
Call 440-296-5006

4988 South Sedgewick Rd, Lyndhurst   
BY APPT
$145,000 
3bd 2ba
Call 440-296-5006

6533 Bayside Dr, Madison 
BY APPT
$159,900 
3bd 3ba
Call 440-296-5006

7969 Oakridge Dr, Mentor
BY APPT
$239,990 
4bd 3ba
Call 440-296-5006

Price Reduction

29150 Forestgrove Rd, Willowick 
$50,000 NEW PRICE!

Today's New Listings!

5377 Strawberry Ln, Willoughby

36620 Ridge Rd, Willoughby

7670 Weber Dr, Mentor-on-the-Lake

Monday, December 2, 2019

Location, Location, Location - Things to Consider When Deciding Where to Live

Deciding where to live should be a home buyer’s first task. Many buyers though describe the type of home they want to live in and are open to many areas. This usually results in another move within a few years because the homeowner realizes they should have considered their lifestyle and the things they like to do and made choosing a location the priority.

Commuting Nightmares
If your new home is quite a distance from work, family or hobbies you like to do, then you could spend a good amount of time in the car. This is time that could be spent enjoying your home and spending time with family and friends. Even though a buyer may not mind driving, when it adds up to several hours each week, it will begin to mentally and physically weigh on a person and cause unnecessary stress.

Healthy Lifestyle
Many buyers today are looking for communities that are easy accessible with walking/biking paths. Real estate companies have recognized this and offer Walkability ratings on their websites. Sitting for long periods of time indoors is not healthy. It is ideal to choose a community where you can get out and roam to the neighborhood coffee shop, the gym or a nearby park.

Future Appreciation
If there truly is more than one location that will offer you everything you need, then choose the location that has the best chance of increasing in value. Appreciation is a great determining factor when choosing where to live since it takes your future earnings into consideration. A real estate professional can help you determine areas that are expected to increase in value over the next several years.

At the end of the day, location should be the first consideration when deciding where to live since the home itself should not be the only deciding factor. The surrounding area plays a big part in a homeowner’s happiness and therefore should be given the attention it deserves. A buyer will be happier in the long run!

Today's New Listings!

30140 Barjode Road, Willowick

1253 Watermark Lane, Fairport Harbor

804 Redbud Court, Painesville Township

1704 Muirfield Lane, Painesville Township

Monday, November 25, 2019

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 based upon national averages. In certain regions, different remodels may be worth more or less but this is a good indicator overall.

Front Door
The Front door is the gateway to your home. Buyers typically make a decision within minutes of seeing a house and the entryway can have a huge effect on that decision. By upgrading your front door, you can have a whopping return of 96.6%. This is the most return of any updates available.

Deck Addition
With an 87.4% return, adding a wood deck is a great way to add value to your home. Many potential buyers are looking for spaces that can be used to entertain guests as well as outside spaces that they can enjoy. A deck accomplishes both of these desires.

Siding
Updating your siding can have up to an 87% return. Buyers typically want a house that does not have major issues and siding can be a significant problem if it needs replaced. In addition to the practical benefit, siding now comes in a variety of colors so it can add a bit of flair to your home.

Attic Bedroom
One of the best renovations you can do to your home is to add an extra bedroom. This is because it opens up your target market and widens the appeal. One of the most popular places to do this is in a walk-up attic since it is already a framed part of the home. It can have an 84.3% return.

Garage Door
This may seem like a trivial component but garages can have a significant impact on the appearance of a house. A new, inviting door can work wonders on improving the overall feel of your property. A new garage door can have an 83.7% return.

Kitchen
Minor kitchen remodels such as appliance upgrades, addition of extra lighting and adding storage can have an 82% return. If you decide to make major renovations, you can expect a 74.2% return.

Bathroom
Upgrading the bathroom is always a good idea. Buyers do not want a bathroom that is old, dirty or outdated. Like the kitchen, as long as you do not go overboard with the renovation, this can have a solid return on investment. Most bathroom remodels generate a 72.5% return. If you want to go even further and add a new bathroom, it will have a 60% return.

Conclusion
While this is not a list of every possible renovation you can perform, these are the ones that offer the best returns on investment. If you plan on selling your home in the near future, focusing on these projects can have a huge impact on how fast your home sells and for how much!

Today's New Listings!

40 Shawondassee Drive, Eastlake

6296 Glenwood Drive, Mentor

9219 Orvos Court, Mentor

7534 Hunting Lake Drive, Concord

5710 Canyon View Drive, Perry

Thursday, November 21, 2019

Open Houses!

Open Houses for November 24, 2019 

10894 Thwing Rd, Chardon 
Open 11-1pm
$245,000 NEW PRICE!
4bd 2ba
Call 440-279-8585

4988 South Sedgewick Rd, Lyndhurst   
Open 12-1:30pm
$145,000 NEW PRICE!
3bd 2ba
Call 440-813-5762

6533 Bayside Dr, Madison 
Open 11-1pm
$159,900
3bd 3ba
Call 440-289-8213

6085 Meadow Wood Dr, Madison
Open 1-3pm
$184,000
4bd 3ba
Call 440-637-3791

6409 Yellowsprings Dr, Madison
Open 1:30-3:30pm
$45,000
3bd 2ba
Call 440-289-8213

7969 Oakridge Dr, Mentor
Open 11-1pm
$239,990 NEW PRICE!
4bd 3ba
Call 440-487-0368

9104 Sugarbush Drive, Mentor
Open 12-4pm
$215,000 NEW PRICE!
3bd 3ba
Call 440-339-3626

8375 Deacon Ave NW, North Canton  
Open 2-4pm
$375,000 
2bd 2ba
Call 330-232-2689

28767 Eddy Rd, Willoughby Hills
Open 12-2pm
$350,000
3bd 2ba
Call 440-283-7557

10440 Penniman Dr, Chardon 
BY APPT
$390,000 
4bd 3ba
Call 440-296-5006

6517 Fay Rd, Concord 
BY APPT
$540,000 
4bd 4ba
Call 440-296-5006

14665 Shire Ct, Russell Twp 
BY APPT
$600,000
4bd 4ba
Call 440-296-5006

Open Houses and Price Reductions!

Open Houses for November 17, 2019 

10440 Penniman Dr, Chardon 
Open 12-2pm
$390,000
4bd 3ba
Call 440-289-8213

10894 Thwing Rd, Chardon 
Open 1-3pm
$250,000 
4bd 2ba
Call 330-232-2689

10806 Ellison Creek Dr, Concord 
Open 12-2pm
$415,000
4bd 5ba
Call 440-413-0588

6517 Fay Rd, Concord 
Open 1-3pm
$540,000 NEW PRICE!
4bd 4ba
Call 440-525-3331

7969 Oakridge Dr, Mentor
Open 12-2pm
$245,000
4bd 3ba
Call 440-537-6671

9104 Sugarbush Drive, Mentor
Open 12-4pm
$225,000
3bd 3ba
Call 440-339-3626

14665 Shire Ct, Russell Twp
Open 2:30-4:30pm
$600,000
4bd 4ba
Call 440-289-8213

6720 Winston Lane, Solon
Open 12-2pm
$699,900 NEW PRICE!
6bd 6ba
Call 440-279-8585

914 Lloyd Rd, Wickliffe 
Open 11-1pm
$289,900 
3bd 2ba
Call 440-251-0791

4988 South Sedgewick Rd, Lyndhurst   
BY APPT
$150,000
3bd 2ba
Call 440-296-5006

2648 Morningstar Dr, Madison
BY APPT
$79,900
3bd 2ba
Call 440-296-5006

7934 Sharon Dr, Mentor-on-the-Lake  
BY APPT
$222,000 
4bd 3ba
Call 440-296-5006

Today's New Listing!

1233 Heatherstone Drive, Painesville

Monday, November 18, 2019

What is a Buyer’s Market and What are the Advantages?

Whether you are a new home buyer or seasoned investor, you may have heard the term “buyer’s market”. This term is used to refer to a real estate market in which there are more units for sale than buyers. Home buyers can see big advantages in this type of market!

Higher Inventory
A buyer’s market involves a higher supply of housing units in comparison to the number of buyers at a given time. As such, the buyer will have a larger variety of units to consider for purchase in such a market. More choices is always a positive.

Lower Prices
Since the real estate market abides by the same laws of demand as other markets, a higher level of supply compared to demand means that prices will drop. Therefore home buyers will see lower asking prices in this type of market and may be able to negotiate even lower sales prices.

Favorable Terms
Since sellers know buyers have many options, they are usually more willing to concede to buyer’s terms such as close times, paying some of the buyer’s closing costs and even leaving chattel such as appliances or furniture.

Time to Decide
Since there are less buyers competing for the same units, a buyer can take their time when considering available options. This may allow time for repeat visits as well as inspections, financing, etc.

Real estate markets go in cycles so it will sometimes be a buyer’s market and other times it will be a seller’s market. When it is a buyer’s market, home buyers should understand that they have the upper hand in the market!

Today's New Listings!

38077 N Brooks Drive, Willoughby

38111 N Brooks Drive, Willoughby

8935 Trailwood Court, Mentor

6969 Highlandview, Concord

8001 Butler Hill Drive, Concord

4162 Hidden Village Drive, Perry

Thursday, November 14, 2019

Open Houses!

Open Houses for November 17, 2019 

10440 Penniman Dr, Chardon 
Open 12-2pm
$390,000
4bd 3ba
Call 440-289-8213

10894 Thwing Rd, Chardon 
Open 1-3pm
$250,000 
4bd 2ba
Call 330-232-2689

10806 Ellison Creek Dr, Concord 
Open 12-2pm
$415,000
4bd 5ba
Call 440-413-0588

6517 Fay Rd, Concord 
Open 1-3pm
$540,000 NEW PRICE!
4bd 4ba
Call 440-525-3331

7969 Oakridge Dr, Mentor
Open 12-2pm
$245,000
4bd 3ba
Call 440-537-6671

9104 Sugarbush Drive, Mentor
Open 12-4pm
$225,000
3bd 3ba
Call 440-339-3626

14665 Shire Ct, Russell Twp
Open 2:30-4:30pm
$600,000
4bd 4ba
Call 440-289-8213

6720 Winston Lane, Solon
Open 12-2pm
$699,900 NEW PRICE!
6bd 6ba
Call 440-279-8585

914 Lloyd Rd, Wickliffe 
Open 11-1pm
$289,900 
3bd 2ba
Call 440-251-0791

4988 South Sedgewick Rd, Lyndhurst   
BY APPT
$150,000
3bd 2ba
Call 440-296-5006

2648 Morningstar Dr, Madison
BY APPT
$79,900
3bd 2ba
Call 440-296-5006

7934 Sharon Dr, Mentor-on-the-Lake  
BY APPT
$222,000 
4bd 3ba
Call 440-296-5006

Today's New Listing!

11010 Tibbetts Road, Kirtland

Monday, November 11, 2019

What is a Seller’s Market? What are the Advantages?

Seller’s market is a term used when the process of buying real estate favors mainly the seller. It is commonly characterized by the low inventory of housing which often allows sellers to raise their prices since buyers are competing against other home buyers in a low inventory market. Selling a home during a seller’s market offers several advantages.

Less Competition

When there is a low number of properties on the market, there is a greater chance that your property will sell. It is no longer a question “if” your property will sell but “when”. With a balanced inventory, there is no guarantee that a home will sell even if it is priced correctly and in good condition. With this same scenario, a seller’s market puts a lot of this fear to rest and sellers are counseled to begin planning their next course of action.

Quicker Sales

With a limited inventory and a high amount of buyers looking in a specific real estate market, your property will likely find a buyer quickly. Often homes will receive an offer within the first few days of listing in a seller’s market. This is because buyers have exhausted everything that is currently on the market and they are waiting for new inventory to appear. As soon as a new listing comes on the market, it will have several showings in the first few days and likely will receive an offer if it is priced reasonably well and is in decent condition.

Higher Prices

One of the biggest advantages that the seller’s market provides homeowners is the ability to sell their home at a higher price. Sellers will be able to put a higher asking price on their property since there is a greater amount of interest that could meet the price. A low inventory also makes it possible to receive multiple offers which again can increase the sales price.

Negotiation Power

Sellers will have a stronger position when negotiating with a buyer in a seller’s market. There is an underlying fear with a buyer that another offer will come in while negotiating with a seller so the buyer is more willing to concede so that they can lock in the purchase agreement. This may have to do with the price but often it has to do with closing dates and the seller having more say.

As long as there is a high demand for real estate and low inventory, we will be in a seller’s market. Although there are many advantages to a homeowner in this type of market, the price and condition are still factors. There is more leeway though in the seller’s favor!

Today's New Listings!

62 Ranally Way, Willoughby

37 Fairway Glenn Boulevard, Willoughby

76 Ranally Way, Willoughby

8875 Trailwood Court, Mentor

5322 Lorrey Place, Mentor

6389 Dawson Boulevard, Mentor

506 Prestwick Path, Painesville Township

500 Prestwick Path, Painesville Township

10248 Cherry Hill Drive, Concord

Thursday, November 7, 2019

Open Houses and Price Reduction!

Open Houses for November 10, 2019 

10440 Penniman Dr, Chardon 
Open 1-3pm
$390,000
4bd 3ba
Call 440-279-8585

6517 Fay Rd, Concord 
Open 2-3:30pm
$575,000 
4bd 4ba
Call 440-525-3331

6586 Fay Rd, Concord
Open 1-3pm
$399,900
4bd 5ba
Call 440-479-7379

4988 South Sedgewick Rd, Lyndhurst   
Open 12-1:30pm
$150,000
3bd 2ba
Call 440-813-5762

6085 Meadow Wood Dr, Madison
Open 1-3pm
$184,000
4bd 3ba
Call 440-637-3791

7969 Oakridge Dr, Mentor
Open 11-1pm
$245,000
4bd 3ba
Call 440-344-9567

9104 Sugarbush Drive, Mentor
Open 2-4pm
$225,000
3bd 3ba
Call 440-339-3626

8375 Deacon Ave NW, North Canton
Open 2-4pm
$375,000
2bd 2ba
Call 330-232-2689

6720 Winston Lane, Solon
Open 11-1pm
$725,000
6bd 6ba
Call 440-525-3331

914 Lloyd Rd, Wickliffe 
Open 11-1pm
$289,900 
3bd 2ba
Call 440-251-0791

38665 Old Willoughby Dr, Willoughby 
Open 1-3pm
$379,900 
3bd 2ba
Call 440-283-7557

28767 Eddy Rd, Willoughby Hills  
Open 3-5pm
$349,900 
3bd 2ba
Call 440-283-7557

32324 Glen Arden Dr, Willowick 
Open 11-1pm
$139,900 
3bd 2ba
Call 440-289-8213

Price Reduction

10806 Ellison Creek Dr, Concord 
$415,000 NEW PRICE!

Today's New Listings!

373 Clarmont Road, Willowick

35625 Admiral Drive, Eastlake

6528 Lafayette Drive, Mentor

5641 Birdie Lane, Mentor

Monday, November 4, 2019

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 qualify for as much as a home buyer due to these extra fees calculated in their monthly obligations.

Amenities
Condominiums usually come with several perks such as landscaping and snow plowing handled professionally, exterior of the home taken care of and amenities such as a swimming pool or fitness center. While a good majority of potential buyers would love the perks and amenities that a condominium offers, they are not willing to make the trade for a smaller space without a yard of their own.

Renting Restrictions
Many first time home buyers purchase a condominium as a starter home thinking that they can rent it out in the future when they decide to upgrade to a large home. Many investors consider a condominium a good investment as well. It should be noted though that many condominiums restrict renting in their complex though so this should be verified prior to purchasing a condominium.

There are many benefits to purchasing a condominium but buyers need to be sure they are aware of all of the pros and cons of such a purchase. Let a real estate agent help you navigate the condo world!

Today's New Listings!

4237 Carl Court, Willoughby

2479 Maple Hill Road, Willoughby Hills

9716 Country Scene Lane #U-08, Mentor

207 Coventry Drive, Painesville Township

1067 Valewood Court, Painesville

Thursday, October 31, 2019

Open Houses and Price Reductions!

Open Houses for November 3, 2019 

10440 Penniman Dr, Chardon 
Open 2-4pm
$390,000 NEW PRICE!
4bd 3ba
Call 440-289-8213

11130 River Rd, Chardon 
Open 12-2pm
$829,900 
4bd 4ba
Call 440-279-8585

7989 Butterfly St, Concord
Open 1-3pm
$450,000 
5bd 4ba
Call 440-221-0075

10806 Ellison Creek Dr, Concord 
Open 12-3pm
$419,000 
4bd 5ba
Call 440-488-1061

6517 Fay Rd, Concord 
Open 2-3:30pm
$575,000 
4bd 4ba
Call 440-525-3331

6586 Fay Rd, Concord
Open 3-4:30pm
$399,900
4bd 5ba
Call 440-479-7379

4988 South Sedgewick Rd, Lyndhurst   
Open 1-2:30pm
$150,000
3bd 2ba
Call 440-813-5762

6085 Meadow Wood Dr, Madison
Open 1-3pm
$184,000
4bd 3ba
Call 440-637-3791

6345 Meadowbrook Dr, Mentor
Open 11:30-1:30pm
$300,000 
4bd 3ba
Call 440-289-8213

7969 Oakridge Dr, Mentor
Open 12:30-2:30pm
$245,000
4bd 3ba
Call 440-479-7379

7934 Sharon Dr, Mentor-on-the-Lake
Open 12-2pm
$222,000
4bd 3ba
Call 440-413-0588

6720 Winston Lane, Solon
Open 11-1pm
$725,000
6bd 6ba
Call 440-525-3331

28767 Eddy Rd, Willoughby Hills  
Open 12-2pm
$349,900 
3bd 2ba
Call 440-283-7557

Price Reductions

23801 Chardon Rd, Euclid 
$110,000 NEW PRICE!

5671 Wellington Rd, Lyndhurst 
$110,000 NEW PRICE!

Today's New Listings!

6435 Savannah Drive, Mentor

6725 Waterford Lane, Mentor

524 Prestwick Path, Painesville Township

24 Ava June Drive, Painesville Township

303 Mountainside Drive, Painesville

Monday, October 28, 2019

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 unnecessary furniture and store it somewhere else. Have any carpets professionally cleaned and be sure to polish any hardwood flooring. In the bedrooms, de-clutter your closets. Your kitchen and bathrooms should be sparkling. Clean and organize counters and cabinets. Again, most of these suggestions cost little but add great value to your home.

Upgrades
When you think of upgrades, you many automatically assume major costs with little return. However, many upgrades may be within your budget. Consider making some of these affordable upgrades to your home. Living Areas/Family Rooms – If you are going for a more elegant touch, add some crown molding. For a more rustic feel, add box beams. Improving the ceilings of main rooms will add value to your home.
Hardware and Fixtures – Painting and changing the hardware on your cabinet doors can change the look of a room dramatically. Add new fixtures such as lighting and doorknobs for a more updated look.

Selling your home may require you to spend a little money but you will likely get the full value of your home if you make the investment!

Today's New Listings!

8 Canterbury Drive, Willoughby

8380 King Memorial Road, Kirtland Hills

1704 Muirfield Lane, Painesville Township

515 Prestwick Path, Painesville Township

2431 Beechersbrook Lane, Madison

Thursday, October 24, 2019

Open Houses and Price Reductions!

Open Houses for October 27, 2019 

10440 Penniman Dr, Chardon 
Open 11:30-1:30pm
$395,000
4bd 3ba
Call 440-289-8213

7989 Butterfly St, Concord
Open 1-3pm
$450,000 
5bd 4ba
Call 440-339-3626

6517 Fay Rd, Concord 
Open 12-2pm
$575,000 
4bd 4ba
Call 440-279-8585

6586 Fay Rd, Concord
Open 12-2pm
$399,900
4bd 5ba
Call 440-413-1963

4988 South Sedgewick Rd, Lyndhurst   
Open 1:30-3pm
$150,000
3bd 2ba
Call 440-813-5762

8013 Buckthorn Dr, Mentor
Open 2-4pm
$289,900
4bd 4ba
Call 440-289-8213

103 Nantucket Circle, Painesville Twp
Open 2:30-4pm
$139,900 
3bd 2ba
Call 440-413-0588

6720 Winston Lane, Solon
Open 12-2pm
$725,000
6bd 6ba
Call 440-525-3331

28767 Eddy Rd, Willoughby Hills  
Open 12-2pm
$349,900 
3bd 2ba
Call 440-283-7557

7550 Sarah Lee Dr, Concord  
BY APPT
$499,900
3bd 4ba
Call 440-296-5006

6752 Bayside Dr, Madison 
BY APPT
$182,500 
3bd 2ba
Call 440-296-5006

4861 Webb Rd, Perry 
BY APPT
$399,000 
4bd 3ba
Call 440-296-5006

Price Reductions

12676 Main Market Rd, Troy 
$999,999 NEW PRICE!

7934 Sharon Dr, Mentor-on-the-Lake 
$222,000 NEW PRICE!

Today's New Listings!

37939 Ridge Road, Willoughby

23A Pine Spring Drive, Painesville Township

7921 Morley Road, Concord

5259 Everwood Way, Madison

Monday, October 21, 2019

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
The very first thing you need to do is schedule your home inspection. Contracts usually allow a buyer seven to ten days to perform a general home inspection as well as more specific inspections. When you initially wrote the offer to purchase the home, your agent should have advised you on the importance of conducting a home inspection. By checking this option, the purchase is now ‘contingent upon a home inspection’. This is a term that will give you a right but not the obligation to hire the assistance of a home inspector as well as other professionals who can take a close look at the home. After the inspections, you can request that the seller make repairs to the home prior to closing; ask for a repair allowance to be given to you at closing or if the repairs are substantial, you can decide not to go ahead with the purchase. As you can see, home inspections are imperative on a home purchase.

Loan Application
Although you provided your lender with your financial information upfront so that you could be issued a pre-approval letter, it is now time to make formal loan application. Now that you have an address, a sales price and a time-frame you can apply for a specific loan amount and lock in a rate for a specific time period. This should be done within a few days of your offer being accepted and often is preferred to be made after the home inspection but be careful to coordinate and follow the dates in your purchase contract. Your lender will likely need you to provide updated income and asset statements from the last time you turned them in. Once your loan has been processed, there may be additional requirements from the lender as well. Turn in everything as soon as possible so there are no delays with the loan which could cause your closing to be delayed.

Homeowner’s Insurance
If you are financing your new purchase, homeowner’s insurance needs to be in place prior to final loan approval. This is because the lender needs to know that you qualify with the payment including your monthly homeowner’s insurance obligation. Buyers sometimes overlook this requirement or rush through the process which can cause complications or consequences later. Closings have been delayed due to lack of insurance but worse is when a catastrophe occurs to the property and the homeowner finds out they do not have adequate coverage to repair or rebuild without coming out of pocket. Take the time to make sure you are getting the right coverage so that you are protected in the future.

Summary
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!

Today's New Listings!

7660 Eagle Road, Waite Hill

8310 Center Street, Kirtland Hills

5656 Frederick Drive, Mentor

520 Prestwick Path, Painesville Township

500 Prestwick Path, Painesville Township

Thursday, October 17, 2019

Open Houses!

Open Houses for October 20, 2019 

10440 Penniman Dr, Chardon 
Open 11-1pm
$395,000
4bd 3ba
Call 440-289-8213

11130 River Rd, Chardon 
Open 12-2pm
$829,900 
4bd 4ba
Call 440-413-0588

7989 Butterfly St, Concord
Open 1-3pm
$450,000 
5bd 4ba
Call 440-339-3626

10806 Ellison Creek Dr, Concord 
Open 12-4pm
$419,000 
4bd 5ba
Call 440-488-1061

6517 Fay Rd, Concord 
Open 1-3pm
$575,000 
4bd 4ba
Call 440-813-5762

6586 Fay Rd, Concord
Open 4-5:30pm
$399,900 NEW PRICE!
4bd 5ba
Call 440-537-6671

7550 Sarah Lee Dr, Concord  
Open 2-3:30pm
$499,900
3bd 4ba
Call 440-537-6671

23801 Chardon Rd, Euclid  
Open 1-3pm
$125,000 
3bd 2ba
Call 440-479-7379

6085 Meadow Wood Dr, Madison
Open 1-3pm
$184,000 
4bd 3ba
Call 440-637-3791

8013 Buckthorn Dr, Mentor
Open 3:30-5:30pm
$289,900
4bd 4ba
Call 440-289-8213

7969 Oakridge Dr, Mentor
Open 1:30-3:30pm
$245,000
4bd 3ba
Call 440-289-8213

4861 Webb Rd, Perry 
Open 2:30-4pm
$399,000 
4bd 3ba
Call 330-232-2689

3745 Painesville Warren Rd, Southington  
Open 10am-12pm
$154,900 
3bd 3ba
Call 440-413-1963

914 Lloyd Rd, Wickliffe 
Open 12-2pm
$289,900 
3bd 2ba
Call 440-283-7557

28767 Eddy Rd, Willoughby Hills  
Open 12-4pm
$349,900 
3bd 2ba
Call 440-283-7557

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...