Category Archives: Real Estate

The Real Estate Market: April 2017

This crazy market is having sellers jump for joy and buyers scrambling to see properties.  It is more important now for an experienced agent to navigate you through the process.

Your Home is a Product

Your Home is a Product

Once you put your home on the market, sellers need to face the reality that the home is no longer a home.  It is now a product.  I know it is very hard to look at a home in this manner with the carefully crafted memories that your family has, but the reality of today’s market is that a meticulously staged home that will appeal to the masses will command more from the buying public.

The homes that appeal the most are the ones that have a crisp, clean feel to them.   Such as:

  1. Newly painted home in the latest neutral colors,
  2. Interior that is dusted and de-cobwebbed,
  3. New neutral carpet, and
  4. Landscaping that is cleaned up without weeds and with mulch.

It helps to have an updated kitchen, bathroom, and a finished basement.  However, if I stuck a batch of 100 crisp, clean new $1 bills in front of you, would you feel it would be worth $120 over the actual value of $100?

Remember, marketing is all about perceived value when it comes to selling.  The best situation is when the buyer perceives that they are getting more than the seller is asking because the buyer (if able) will be willing to pay more if there is competition.

Commanding a product that is worth more to the public than the asking price is a much better situation for the seller.  It’s not a concept commonly practiced.  Sellers actually frown upon pricing their home competitively too low because there is that doubt that buyers would want the home more than the list price.

Yet, every time I encounter a home that is handled as a product with a reasonable to lower price than the surrounding properties in a low inventory market, it sells and fast usually with multiple offers.  Think about it next time you want to place your home on the market.

Is it better to wait and see if buyers will bite at your price?  OR

Is it better to have the offers roll in and choose which one you want to work with?

Wire Instructions & Fraud

Wire Instructions & Fraud

Hard to believe that something is potentially lurking around the corner when you are closing on a home.  It is usually a happy time from both ends of the deal.  However, with the changes to the Ohio Good Funds Law coming into play in April and more and more people are using wire transfers to exchange money; there comes the criminal element to trick you.

Precautions that Need to be Taken

For both Sellers and Buyers there are precautions that need to be taken as you head to the closing table.  Number 1 issue is to be aware where you are sending/receiving your money.  With the push for Wire Transfers as a secure way to transfer money, a more sophisticated con has developed.  People who pose as the title company or Realtors have been sending emails to buyers and sellers to get their account information.   People, trusting that these emails came from legitimate sources, have forward on to these people their information to find out later that it was all a fraud and their funds are gone.

How to Protect Yourself?

  1. Call your Realtor, Lender, Title Company, etc. to find out if the information you received is correct.
  2. Review the email address that it is coming from.  If it has the correct name; but, an off email address to it, stop and ask questions.
  3. If it feels off; just, verify what is going on.

It is amazing how a little phone call to verify what is happening can save you from fraud.  Trust but verify.  Those should be the words any person who is transferring money should live by.