Today's New Listings!

1212 E 346th St, Eastlake

1849 Aberdeen Rd, Madison

1491 Oldsmar Ave, Madison

What a Homebuyer Wants in 2021

Sparked by pent-up demand, the ability to work from anywhere, and the need for more space, real estate sales are on the rise across the country, making it a prime time for would-be sellers to consider listing their home. But many of today’s buyers are coming to market with a new set of criteria for their next home. Here are some of the features topping their lists:

Home office. With an increasing number of work-from-home situations morphing from temporary to permanent, office space is a must-have for many of today’s homebuyers. If your home doesn’t currently have a dedicated work area, consider turning your guest room into a home office, or staging a quiet corner of a den or family room with a workstation, privacy screen and shelving stocked with office supplies.

Schooling space. With so many parents challenged by virtual learning requirements, homes that have an appropriate spot for the kids to “attend school” will have an edge over those that don’t. If you don’t have a room you can dedicate to a home-schooling set-up, add a couple of small desks, a bookcase and a bulletin board to a quiet corner of your kitchen or family room. Or if you have a large walk-in closet, consider turning this into a quiet classroom nook.

Home gym. Many have taken their exercise routines from the gym to their homes, so be sure to set up an area of your abode—like your garage or basement—with simple work-out equipment, such as a bench, free weights, yoga mat and full-length mirror. 

Outdoor living space. To help attract more attention to your home, spruce up your outdoor area to make it an inviting extension of your indoor living space. Create a comfortable seating area by investing in inviting outdoor furniture, and stage an outdoor dining space with non-breakable dinnerware and glassware. Consider adding a fire-pit or water feature, or playground equipment if you have the space. 

Private nooks. With families spending more time together under one roof, homes that have a spot to slip away for privacy will attract more buyers. If you have an open-floor plan design, consider sectioning off a corner with tall bookcases or decorative screens. If you have ample bathrooms, stage one with spa-like features to create an instant retreat. Or, if you have a basement, stand-up attic, garage room or shed you’re not using, now may be the time to have it finished, decorated and turned into a private escape.

Open Houses!

Open Houses for February 28, 2021

38791 Edward Walsh Dr, Willoughby 
Open 12-3pm
$409,900
3bd 2ba
Call 440-221-0075

28885 Chardon Rd, Willoughby Hills   
Open 1-3pm
$499,900 
3bd 3ba
Call 440-283-7557

570 Solon Rd, Bedford 
BY APPT
$250,000 
Call 440-296-5006

11130 River Rd, Chardon  
BY APPT
$975,000
4bd 4ba
Call 440-296-5006

V/L 7695 Auburn Rd 4 Acres, Concord
BY APPT
$750,000 
Call 440-296-5006

V/L 7695 Auburn Rd 6.55 Acres, Concord
BY APPT
$975,000 
Call 440-296-5006

8320 Tewksbury Ln, Concord  
BY APPT
$1,100,000 
3bd 2ba
Call 440-296-5006

19 S Saint Clair St, Painesville   
BY APPT
$575,000 NEW PRICE!
Call 440-296-5006

602 Sandtrap Cir, Painesville Township  
BY APPT
$115,900 
3bd 3ba
Call 440-296-5006

4600 Anderson Rd, South Euclid
BY APPT
$300,000 
3bd 2ba
Call 440-296-5006

V/L Margaret Walsh Ct, Willoughby  
BY APPT
$449,900 
4bd 3ba
Call 440-296-5006

38543 North Beachview, Willoughby 
BY APPT
$599,900
3bd 3ba
Call 440-296-5006

Today's New Listing!

1829 Maple St, Wickliffe

Today's New Listings!

167 Larimar Dr, Willowick

166 Larimar Dr, Willowick

136 Larimar Dr, Willowick

135 Larimar Dr, Willowick

2338 Rivers Edge Dr, Willoughby Hills

4197-S/L Flossy Ln, Perry

4187 Flossy Ln, Perry

Today's New Listings!

147 Larimar Dr, Willowick

4186 Flossy Ln, Perry

1746 Red Bird Rd, Madison

Today's New Listings!

38816 A T Hill Pl, Willoughby

36950 Riviera Ridge Rd, Willoughby Hills

27708 White Rd, Willoughby Hills

551 Prestwick Path, Painesville Township

108-S/L Sunriver Ln, Painesville Township

Open Houses!

Open Houses for February 21, 2021

10595 Mount Royal Dr, Concord   
Open 1-6pm
$799,900 
5bd 5ba
Call 440-283-7557

38791 Edward Walsh Dr, Willoughby 
Open 12-3pm
$409,900
3bd 2ba
Call 440-221-0075

570 Solon Rd, Bedford 
BY APPT
$250,000 
Call 440-296-5006

11130 River Rd, Chardon  
BY APPT
$975,000
4bd 4ba
Call 440-296-5006

7695 Auburn Rd, Concord
BY APPT
$750,000 
Call 440-296-5006

8320 Tewksbury Ln, Concord  
BY APPT
$1,100,000 
3bd 2ba
Call 440-296-5006

19 S Saint Clair St, Painesville   
BY APPT
$595,000 
Call 440-296-5006

602 Sandtrap Cir, Painesville Township  
BY APPT
$115,900 
3bd 3ba
Call 440-296-5006

4600 Anderson Rd, South Euclid
BY APPT
$300,000 
3bd 2ba
Call 440-296-5006

V/L Margaret Walsh Ct, Willoughby  
BY APPT
$449,900 
4bd 3ba
Call 440-296-5006

38543 North Beachview, Willoughby 
BY APPT
$599,900
3bd 3ba
Call 440-296-5006

28885 Chardon Rd, Willoughby Hills   
BY APPT
$499,900 
3bd 3ba
Call 440-296-5006

Today's New Listings!

175 E 317th St, Willowick

4112 Amelia Ave, Willoughby

35000 Lisle Ct, Willoughby

6357 Mardon Dr, Painesville

Today's New Listings!

461 Prestwick Path, Painesville Township

125-S/L Bethpage Ln, Painesville Township

7435 Jumpers Crossing Ln, Concord

8251 Morley Rd, Mentor

330 Celia Ln, Madison

Today's New Listing!

7399 Salida Rd, Mentor-on-the-Lake

Today's New Listings!

7875 Fox Hunter Ln, Concord

4205 Flossy Ln, Perry

4197-S/L Flossy Ln, Perry

4187 Flossy Ln, Perry

Today's New Listings!

37842 Park Ave, Willoughby

10809 Crestwood Dr, Kirtland

6973 Weatherby Dr, Mentor

6271 Tina Dr, Mentor

3805 Dugan Farms, Perry

Open Houses!

Open Houses for February 14, 2021

11130 River Rd, Chardon  
Open 12-2pm
$975,000
4bd 4ba
Call 440-251-4139

614 Beacon Dr, Painesville   
Open 12-2pm
$215,000 
3bd 3ba
Call 440-525-3331

38791 Edward Walsh Dr, Willoughby 
Open 12-3pm
$409,900
3bd 2ba
Call 440-221-0075

28885 Chardon Rd, Willoughby Hills   
Open 1-3pm
$499,900 
3bd 3ba
Call 440-479-7379

7695 Auburn Rd, Concord
BY APPT
$750,000 
Call 440-296-5006

8320 Tewksbury Ln, Concord  
BY APPT
$1,100,000 
3bd 2ba
Call 440-296-5006

19 S Saint Clair St, Painesville   
BY APPT
$595,000 
Call 440-296-5006

V/L Sanford St, Painesville   
BY APPT
$120,000 
Call 440-296-5006

602 Sandtrap Cir, Painesville Township  
BY APPT
$115,900 
34bd 3ba
Call 440-296-5006

4600 Anderson Rd, South Euclid
BY APPT
$300,000 
3bd 2ba
Call 440-296-5006

V/L Margaret Walsh Ct, Willoughby  
BY APPT
$449,900 
4bd 3ba
Call 440-296-5006

38543 North Beachview, Willoughby 
BY APPT
$599,900
3bd 3ba
Call 440-296-5006

Today's New Listings!

418 E 288th St, Willowick

8693 Prairie Grass Ln, Mentor

How Can an Existing Mortgage Affect Your Ability to Buy a Second Property?

If you already own a home and you’re thinking about buying another to use as a vacation house or as an investment property that you can rent out, you will have to clear higher hurdles than you did when you bought your first house. Here are some important things to know.

Lenders Will be Stricter
A second mortgage can make you riskier in a lender’s eyes. A lender will want to be confident that you can afford mortgage payments, taxes, maintenance, homeowners insurance and other costs for both properties.

You may need a higher credit score to qualify for a second mortgage than you did for your first one. A lender may also be stricter when it comes to your debt-to-income ratio. If you still owe a large amount on your current mortgage or have other substantial debts, a second mortgage may put your debt-to-income ratio above the maximum the lender allows. You may be required to make a larger down payment for a second home, and a second mortgage will probably have a higher interest rate. Guidelines will vary from company to company.

Buying a second home as an investment property to rent out can create its own set of risks. There is no guarantee that you will have a renter living there consistently or that the renter will pay regularly and on time. A renter may also cause damage to the house. 

Mortgage Options to Consider 
The type of mortgage you will qualify for may depend on how you plan to use the second property. Some types of loans, such as those issued by the Federal Housing Administration and the Veterans Affairs Administration, can only be used to purchase a primary residence.  

The mortgage term you choose will affect your interest rate and monthly payment amounts. Interest rates are generally lower and monthly payments are usually higher for 15-year mortgages than for 30-year loans. You may be able to pay off a 15-year mortgage faster and spend less in interest, but it may be challenging to cover high monthly payments if you already have a mortgage. 

How to Fund a Down Payment
You may be able to use equity in your current home to help you finance the purchase of your second. With a cash-out refinance, you may be able to replace your existing mortgage with a larger loan and receive cash at closing that you can use to make a down payment on a second home. You may also be able to take out a home equity loan or home equity line of credit to access money that you can use to fund a new home purchase.

Get Professional Advice
Talk to your financial advisor about how a second mortgage could affect your other financial goals, such as saving for retirement and college. If you decide to buy another house, compare loan terms from multiple lenders.

Today's New Listings!

33953 White Rd, Willoughby Hills

590 Cherrywood Ln, Painesville Township

535 Cherrywood Ln, Painesville Township

463 Roberta Dr, Painesville Township

574 Cherrywood Ln, Painesville Township

443 Roberta Dr, Painesville Township

Today's New Listings!

38771 Congressional Ln, Willoughby

6144 Melshore Dr, Mentor

1497 Welch Rd, Painesville Township

104 Rose Ct, Painesville Township

5893 S Ridge Rd, Madison

Today's New Listings!

38427 Gold Rush Drive, Willoughby

9378 Corning Ave, Mentor

614 Beacon Dr, Painesville

308 Cummings Dr, Painesville

1119 Vista Lago Circle, Painesville

Today's New Listings!

956 Connor Dr, Eastlake

2857 Oakwood Dr, Willoughby Hills

7556 Monterey Bay Dr #1, Mentor-on-the-Lake

660 Ericston Ct, Painesville

9785 E Springhouse Ln, Mentor

Today's New Listings!

620 Woodstock Rd, Eastlake

3330 N Ridge Rd, Perry

Today's New Listings!

32901 Lake Shore Blvd, Willowick

7555 Bramblewood Pl, Mentor

114 Palm Ct, Painesville Township

117 Palm Ct, Painesville Township

2014 S Ashwood Ln, Painesville

Today's New Listings!

8959 Conley Dr, Kirtland

6290 Seneca, Mentor

7450 Thatchum Ln, Concord

6814 Beach Dr, Madison

Today's New Listings!

156 E 315th St, Willowick

156 E 315th St, Willowick

6165 Grandridge Pointe Dr, Concord

811 Meadowood Blvd, Madison

7394 Ross Rd, Madison