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Thursday, December 31, 2015

More Millennials Becoming Homebuyers

Having the Millennials becoming home buyers is paramount to the growth of the real estate market. This story comes form by Money talks news.  They are basically saying that the the younger Millennials are entering the home buying market.

"Given that the young-adult population is expected to continue expanding rapidly during the second half of the decade, it would take only modest further improvements in home ownership rate trends for the number of young homeowners to return to growth."

Having them get into the market usually as 1st time home buyers is very important.  That allows people to move up in price on there 2nd home.  This helps build the market and equity positions on your real estate portfolio.

" If such a return to modest growth among young homeowners occurs, it could have several implications for the housing industry, the Fannie Mae report notes, including:
  • Creating the need to adjust the size, type and geographic location of new housing construction.
  • Expanding education and counseling efforts targeted at inexperienced homeowners.
  • Stepping up efforts to provide services and technologies suitable for young homebuyers."
Cleveland has adjusted to all these items with the upgrade of the downtown area.  There are a lot of young people moving into the downtown area because of it.  That area is getting full and they will also need to buy in the outlining areas. You have to remember that Cleveland is a smaller Metro City than most others.  The outlining cities are 20-40 minutes from the downtown area.

Having these new buyers and getting the upgrades they need for their lifestyle makes 2016 an exciting year to be in Real Estate. Brett Young 216-703-5740 Howard Hanna 

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Homes selling in December 2015

Most people think that the real estate market takes a break during the Holiday season.  In my experience that has never been true. That remains the same this season.

Me and Lori sold 4 homes and we are waiting on responses from 3 other offer that we have out.  Not all of these homes were Income real estate some were home buyers.  The market is heating up in many different environments.

Their are a mix of investors and home shoppers that are seeing that the affordable pricing in this real estate market is getting noticed.  With the mortgage rates and still affordable housing people are getting anxious to buy.  As I have mentioned in other blogs rents are getting higher also.

All these factors make for a great real estate market for both buyers and sellers. We are still getting buyers for this market and sellers.  I just took some buyers out yesterday.

I think that 2016 will be strong and we have a new buyer that will be looking at a $300,000 home on Saturday.  Watch for 2 new listings next week and that is not including a new rental.

The biggest thing about us is that we will get you the home that you want.  We work tirelessly to do that. Christmas Eve we wrote 3 contracts. We love our clients!

Need a Realtor?  Call Brett 216-703-5740 Howard Hanna

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Wednesday, December 30, 2015

6 Stellar Reasons to Buy a Home in 2016

 2016 looks to be another banner year according to this story from by Kimberly Dawn Neumann. 

This story talks about the interest rates will stay low.  Most of us can remember that when the rates were much higher. The cost of money is the key to people wanting to buy real estate. Whether you want to buy a home to live in or buy income real estate.

“Remember 18.5% in the ’80s?” asks Tom Postilio, a real estate broker with Douglas Elliman Real Estate and a star of HGTV’s “Selling New York.”“It is likely that we’ll never see interest rates this low again. So while prices are high in some markets, the savings in interest payments could easily amount to hundreds of thousands of dollars over the life of the mortgage.”

One of the other reasons that people will buy is the escalating rental rates. Do the math it's better to buy payment wise than it is to rent. I saw apartments in the downtown area had rents much higher than a mortgage payments on a very nice home.

" Another reason home buyers are lucky is that rents are going up, up, up! (This, on the other hand, is a reason not to be thankful if you’re a renter.) In fact, rents outpaced home values in 20 of the 35 biggest housing markets in 2015. What’s more, according to the 2015 Rental Market Report, 88% of property managers raised their rent in the past 12 months, and an 8% hike is predicted for 2016."

The other aspect that you need to keep in mind is equity and that you may have, great growth in this area in the years ahead. That is part of building your wealth and security for the future. A lot of people forget about that part of the equation in their financial future. Equity is a crucial part of being financially free

The tax laws are also another plus to owning a home. Basically you can write off interest you pay on your mortgage if you live there.  Always ask your CPA or accountant about these benefits. If your buying a home over a Million Dollars you may not deduct all the interest. I sure if you have that type of home your tax planning is in other areas.

"Tax laws continue to favor homeowners, so you’re not just buying a place to live—you’re getting a tax break! The biggest one is that unless your home loan is more than $1 million, you can deduct all the monthly interest you are paying on that loan. Homeowners may also deduct certain home-related expenses and home property taxes."

Keep your portfolio building in 2016 and if you don't own a home then consider buying in 2016.  I love to help clients find their dream home or Income Real Estate.  Brett 216-703-5740 Howard Hanna

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Need Income Property Help?

Keeping and maintaining your real estate portfolio is really a key component to your success. Having professionals that understand the needs of a property is also very important to getting the best bang for your money in real estate.

For example we just had a client that had some tenants move out.  She wanted the property back to normal so that it could be rented. did the rehabbing at a price that she was very happy with.  The property was finished in a week and we are currently getting ready to rent it.

We are also Realtor's that can help get your property rented quickly.  We work hand in hand with your property managements paperwork and credit standards.

Having the resources and the understanding of today's rental market.  Being there and getting your property ready to rent and then using professional Realtor's to work with your property management to get a tenant in place is all we do.

We also get you pictures and Video of all the work that was done on your property.Need help please call us today.

Call Brett 216-703-5740 Howard Hanna

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Tuesday, December 29, 2015

The 5 Real Estate Trends That Will Shape 2016

This story really hits what I believe the real estate market will do in 2016. The story talks about the market getting back to some normal status.  This story comes from by  Jonathan Smoke. 

What I really pulled from this story was rental rates going up double digit and how the lending will have to be adjusted so those people can get a home.

" The housing crisis that politicians are ignoring is that the cost of rental housing has become crushing in most of the country. More than 85% of U.S. markets have rents that exceed 30% of the income of renting households. Furthermore, rents are accelerating at a more rapid pace than home prices, which are moderating. We’ve been seeing asking rents on vacant units increase at a double-digit pace in the second half of this year."

This I believe will help the resale market because of the cost per household for rent. The disposable income will less and the Feds will see that as affecting all the markets.  They will ease up a little on the financing allowing new buyers to get into this affordable resale market.

"  Thirty-year fixed rates will likely end 2016 about 60 basis points higher than they are today. That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase. However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher. Markets with the highest prices will see that higher rates will result in fewer sales; however, across the U.S., the effect will be minimal as the move to higher rates will spur more existing homeowners to sell and buy before rates go even higher.'

The mortgage rates are not going to effect the market all that much.  They are still very low and with the rising rents it will look more and more attractive to buy instead of rent.

" Millennials emerged as a dominant force in 2015, representing almost 2 million sales, which is more than one-third of the total. This pattern will continue in 2016 as their large numbers combined with improving personal financial conditions will enable enough buyers between ages 25 and 34 to move the market—again. The majority of those buyers will be first-timers, but that will require other generations to also play larger roles"

Huge part of the overall real estate market.  First time home buyers help sellers move into a bigger and higher priced home in most cases. I know my nephew who just got married and is 23 purchased his first home right out of the shoot.  That is the generation that we need in this market.  I believe with the higher rents they will be getting into that market.  We also just sold another property to a millennial just this month and it was their first home!

Overall the market should be healthy next year and the rates will stay low.  That is a great formula for success in this market.  Call Brett 216-703-5740 Howard Hanna and Jarrett Signature Homes

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Monday, December 28, 2015

Flats developer has a suite deal for prospective tenants

This is a great income property idea that I have never heard of. It is a great way to promote your development.  This story comes from by Stan Bullard. 

Basically this developer has leveraged the advertising his properties by offering the tenant an opportunity to lease their apartment out during the Republican National Convention. They get a all expense paid vacation during that time. That is an awesome grand opening experience.

" Lease new apartments in downtown Cleveland, or keep suites to lease them out during the Republican National Convention. To achieve both goals, developers of the Flats at East Bank have launched a novel incentive of giving new tenants an all-expense paid vacation during the GOP fest."

"Scott Wolstein, partner in Flats East Bank developer Wolstein Group, said in a news release announcing the incentive, “Flats at East Bank is a dynamic new living experience right on the waterfront, and we wanted to provide a way for new residents to take advantage of a special opportunity during the RNC.”  

It must be working the development is 70% leased.  These Suites rent for above $1500 a month. 

" In an email response to a question about whether it’s a rent incentive masquerading as an RNC gambit, Wolstein said the last of the 241 suites were finished at the end of last month and the complex is more than 70% leased."

I also wanted to show that these places in the downtown area are really getting filled up quickly and the rents are going up. Call Brett 216-703-5740 Howard Hanna and Jarrett Signature Homes for all your real estate needs

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Sunday, December 27, 2015

Rocky River home values go up 10 percent, Bay Village 8 percent, Westlake 6 percent

I always like to look at the year and how areas fared price wise.  This story comes from by Chanda Neely, Northeast Ohio Media Group 

This story talks about the price increases in some of the west side cities.  These are areas I really like Rocky River, Bay Village and Westlake. They all have superior shopping, views and a lot of great things to do. 

There were some other awesome cities that were in the double digit arena also. 

" Other areas with home value increases of 10 percent or more include Cleveland's Edgewater, Tremont, Ohio City and University Circle neighborhoods, as well as Lakewood's lakeshore homes and parts of Orange and Solon."

Folks I been saying that Cleveland is the best kept secret in real estate. This story is showing what that the areas are going up in prices.  They are always talking about other cities in the United States that a lot of the experts say are the best areas to buy.  I'm sure a lot of them are right. The biggest advantage that the Cleveland Metro area has is pricing of the inventory.

I have been helping people purchase Real Estate in this area for the last 6 years and recognized that the downtown Cleveland area was going to emerge into the great city it is. My wife Lori read the other day that our Play House theater district gets more people in there theaters then New York City does.  That is a huge accomplishment! That also shows that there are people with money here.  We went and saw Christmas Story  and the place was sold out!

The housing still has a ways to go up in price until it will be in the more expensive areas home prices. Consider the Cleveland area for your next purchase.  It has a lot to offer in quality and in price. Call Me at 216-703-5740 Howard Hanna and see what this area offers.

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Saturday, December 26, 2015

Holiday Edition Real Estate Magazine

Unlimited Real Estate Magazine


Duplex gets $885 Net


  I did come across one in Lakewood that is on an excellent street.  In fact I sold a home right across the street from this duplex for $174,900. This Duplex is a repo but is in great condition.  I shoot some pictures for you and wanted to see if you were interested.  This property will rent for $700-$750 a unit. I will use $725 for the average. I have down a lot of rentals in this area and they do well. Let me go over the approximate numbers
Rent               $1450
Tax                  $ 320
P/M                 $ 145
Insurance       $  100
Net________$  885
They are asking $94,000 for it I think we should offer $85,000.  It may need $5,000 on some repairs.  If your interested i will go to the city and get all the specifics on this properties repairs. It looks very minor though.
Click here to view these pictures

Call Brett 216-703-5740 Howard Hanna 


New Flip Property Available


Found another possible flip property that is in one of our favorite areas. Lets go over all the approximate numbers on this flip.


Total______$   80,000

Sale Price__$120,000

This leaves a nice equity position of around $40,000.  Even if you need to go up a little on this property it would still be a great deal. Call Brett for all the information 216-703-5740 Howard Hanna


Possible December flip Property


I really have 2 flip properties I looked at yesterday.  They are both in very nice areas and have great comps in the area. These areas also have a low days on market. Call me 216-703-5740 Howard Hanna

Lets go over the first ones approximate numbers

Property #1


Rehab______$  30,000


Sale Price________$180k-185k

Equity Position___$45k-50K

Days on market are low in this area

Offer____$  60,000

Rehab___$  20,000

Total____$  80,000

Sale Price________$120k-125k

Equity Position___$40k-45K

Days on market are low in this area

Both of these properties have are in nice neighborhoods that families want to live. It also has all the amenities that people.  Call Brett to get your portfolio going in 2016. 216-703-5740 Howard Hanna 


Needing Your Income Property Updated



We proud to offer a business that can help you save money on your income real estate.  RentDirectPro works with your property management to do just that.  We can do all types of rehab and get you property rented for top dollar.

I was out to a property yesterday and was very happy to see that the home only needed minor rehab.  The paint was even good in this property.

Marketing your property in the open market simply gets more potential tenants through your property and that means more people may want your property.

Getting it rented takes the know how on the rehab and not over spending on items that really will not help you get anymore rent. If your in need of a rehab and want to get the best bang for your dollar then please call Brett 216-703-5740 RentDirectPro


Northeast Ohio home sales rise 11% in November over year ago



The sales of homes in this area have went up almost 15% according to this news story from by Stan Bullard

"Sales of single-family homes climbed 11% to 2,915 listings this November from 2,628 the same month last year. On a year-to-date basis, single family homes are almost 15% ahead of last year, climbing to 38,769 houses this year from 33,794 a year ago."

That is what is going on in the Cleveland Metro area.  I can tell you that there are a lot of buyers calling me wanting to get into this market.  We also have a lot of local buyers that are buying or looking to buy. Our last two deals that we have finished and Sold were 32 days or less.

What I really like about this area is the slow price gains.  This helps this real estate market not to over heat. You cam also have a better predication of your real estate portfolio.

"The average sale price of all listed properties climbed 3% to $139,174 through November 2015 from $135,500 in November 2014."

What I really like about this area is the affordability of it all. You can really live in a nice home to an ultra luxury home for a lot less here.  For example homes in the western states run $300,000+.  You can get a 3000 SF Colonial home with all the goodies here for that.  You can get into your car and go get a Starbucks in minutes.

If you are considering relocating in Cleveland or Investing Call Brett 216-703-5740 Howard Hanna 900+ homes and counting.


Hardest Working Realtor in Ohio



My belief in my job is to work the hardest and find the best real estate for my clients.  I spend a ton of hours doing just that. Finding the right type of property for my clients portfolio is not the easiest thing to do. Getting it is the most rewarding part of my job.

Just today I spent time at 3 homes making sure that items and finish's have to be dine correctly to have properties sell or rent quickly.  One of the duplex's I looked at today had a very poor workmanship on the rehab.  My client wants the best deals for his hard earned money and that is what I get him.

Getting my real estate license in Arizona and Ohio allows me to dig into all the deals that are available in this market. I am getting a property for a client in Phoenix that I will be having many conference calls with many different sellers to get the right property.  After many hours of work I will find the right property for my client.  There are many deals out there but there are very few today that make sense for investors portfolios. That is why you have to look at a lot of real estate to get the right deals.

We do extensive video of each one of the properties that we take care of to help keep our clients informed.  It is also a great tool for appraisals and marketing a property.  This is part of our service that we charge nothing extra for.  I had a client come in this week from California that really appreciated the video updates every week.

You also need an agent that knows what each city offers and what the prices and rents are in that area. This makes our clients have more information and knowledge of the area.  A great example was I home we recently leased out for a client at $100 more a month than the property management said he could get.  That is $1200 more a year in rent because our client had the information. The tenant filled out the credit report that was provided by my clients property manager. They were approved and live there today.

I also find homes for clients to live in. We had a couple buy a home this weekend after going through a process that we showed the a lot of areas.  They needed to get a grand slam for their first home and we found them that.  We also helped them get a lot of money off on their dream home.  I am glad to announce that they are very excited about buying their first home.

Getting the right real estate for my clients is my only job.  Hard work is needed to ensure that happens.  Brett Young Howard Hanna 216-703-5740 


Tight Supply Driving Home Prices Up but Don’t Expect Another Boom




Having prices go up a slower pace is a great long term plan to keep homes more affordable for now. This story comes from by Brian Honea 

"The low housing inventory continues to drive developments in the market, which will ultimately lead to more house price appreciation, according to the Q4 Housing Market Analyst released by Capital Economics on Thursday."

They are starting to build new homes in the northern Ohio area I noticed. I was looking at a home in Seven hills which is 20 minutes outside of Cleveland and I noticed a new subdivision going in.  These are all in fill plots of land that are being developed. I like to see that because of the low inventory.

" The lack of inventory is holding back existing home sales, and Capital Economics said it does not expect those conditions to improve in the next couple of years. But slow existing home sales will mean good news for new home sales, since builders are able to complete their homes and sell them more quickly—and as a result, they are increasing production of new homes. In November, housing starts for single-family homes increased to their highest level in seven years, and as a result of the increase in production, new home sales are expected to increase substantially."

You have to remember the housing market has been cautiously been moving upward the last few years.  This is due to the lending rules and how much money they will lend. Lending is a very important sector to watch when you looking at the housing market.

For example just watch those car ads.  I noticed they have a new low mileage lease program.  The payment is lower as long as you don't drive it to much.  You can also get cash beck on some cars, or even a free I Pad hmmmmmm.  That is why the car industry is doing well lending is easy to get.  Remember a few years ago when it was not.

"“For one, mortgage interest rates will stay sub-5 percent until at least early-to-mid 2017,” the report stated. “Moreover, earnings growth is also finally set to rise. So although mortgage payments as a share of income will go up, they will remain under the historically normal level of 20 percent over the forecast horizon. An increase in earnings will also ensure that homes do not become overvalued.”

The interest rate is also going to stay low according to this story. This with the increased earnings will help people continue to purchase real estate.  Remember they are not making anymore land. Cleveland Metro area and the Phoenix area are prime areas to buy and sell in.  Cleveland Metro is the best option for cash flow product.

Either way it is a great time to be in real estate.  I have noticed that are a lot of buyers out there. We are taking 2 out this weekend! Call me @ 216-703-5740 to get a idea of what we can do for your real estate needs.  Brett Young Howard Hanna  


Mortgage rates move higher on Fed decision; rates in Cleveland remain below U.S. average




The rates are going to stay historically low according to this story from by Teresa Dixon Murray, The Plain Dealer 

The rates will effect refinancing of homes. It will only cool some, but the home buying will continue to be brisk with these low rates, The mortgage rate went up 1/20 of a percent with the latest rate hike. Those 0% loans could not last forever, but you need to remember we still have very low interest rates. 

"The average 30-year rate hit 3.97 percent, mortgage giant Freddie Mac said Thursday. While the rate is up by only 1-20th of a point in the last two weeks, it's a reversal of a downward trend."

Freddic Mac also said that the interest rates were going to remain historically low in 2016.

" "Mortgage rates will tick higher but remain at historically low levels in 2016," said Freddie Mac's chief economist, Sean Becketti."

The good news for us the homeowners and investors is that home sales will remain strong in 2016.  My personal belief is as long as it stays under 6% interest rate home sales will continue to grow. I remember 12% interest rates in the 80's.  When the rate went to 8% people were buying homes like crazy. I purchased 10 properties myself when the rates hit 8% . So watch the interest rates but they are still awesome rates.

" We take the Fed at its word that monetary tightening in 2016 will be gradual, and we expect only a modest increase in longer-term rates," he said, adding, "Home sales will remain strong, but refinance activity should cool somewhat."

Call me today to purchase a home or income property Brett Young Howard Hanna



Best Neighborhood on the Planet



Wow I looked at this property on Sunday and it was awesome. Almost 4000 SF nestled in the best neighborhood in America according to me : ) This property has a large all season room that really will benefit the scenery of that area all year round. I was talking to the owner and he said that up to 8 deer are in view at times.

That is the outdoor part of you, but if you like all the amenities then there is that less tan 5 minutes from this property.  I don't mean a strip center but 100's of stores that you can drink your Starbucks when shopping in them. I do not know of any other area in the USA that can offer the options this property has. There are very few listings in this area.

Large living area with a lot of scenery and so much more for under $300,000! Call Brett for the special properties you can call home.  This is also a great vacation home!  216-703-5740 Howard Hanna

Selling your Home? Don't wait til next year!



If your looking to sell your property then this is an excellent time to do it.  Even being December there are a lot of buyers and they are serious.

Remember buyers are looking during the Christmas season because they have the time. I have some my best months in December for home sales.  There are a lot of people shopping and running around and while they are doing that they will look at properties.

I sold 2 properties last December to a Dentist and 2 Doctors that wanted homes in Beachwood.  Both of those properties were sold right before Christmas and closed earlier this year.  You also have the advantage of less competition and your properties will be easier to market.

A lot of properties will sell during this busy season in December.  Having the right Realtor and marketing plan will help ensure that your property will sell faster and for more money.

Getting ahead of the others that are listing their properties is also an advantage to you.  The less the listings in your area the better chance yours will be the home they buy!

Selling your home?  Do it in December call Brett 216-703-5740 Howard Hanna

Warm Weather Keeps Real Estate Market Hot, Hot, Hot



December has been great weather wise.  We will be having a 60 degree Christmas this year in Cleveland and that means people are looking at real estate. Most Realtor's tend to take December off because of all the parties and just wanting to take a well deserved break.

This story comes from by Judy Dutton that talks about just that. We have sold over $500,000 worth of property this month and we aren't seeing any let down. 

“It should be a cold time of year, but our market is really hot,” John Schuster, an agent with Coldwell Banker Burnet, told CNBC in a separate report. “It’s not as cold as it usually is, so that’s helping the market. We’re selling homes with multiple offers.”

Selling your property is a all year around business. I was touring some properties in the Phoenix area during the Thanksgiving Holiday and there were a ton of open houses. The hotter the market the more year around it gets.  Phoenix and Cleveland are no different they are hot markets that have sellers looking all months of the year.

"Our own chief economist at®, Jonathan Smoke, said in November, “If you are ready, consider getting in the market now instead of early spring. You will have more choices and less competition, and you can lock in today’s rates rather than risk rates being 25 to 50 basis points higher.”

That is not always true you have more choices, but if there is a chance and you are ready to buy then why not now.  I have buyers looking today and into the Christmas weekend. Get going today to save time and money on your property. After all getting the American dream is what we all want!

" The incredibly mild weather is definitely one more reason to be jolly this season."

That is true and if you need real estate call me 216-703-5740 Howard Hanna

Hey, Holiday Fans, You Can Own Your Own Christmas Tree Farm!


Thought I would try sell those Christmas movie lovers a Christmas Tree Farm.  Yes they do exist and you can buy them and make a living with Christmas.  They are not cheap though and you will have to live in the winter areas but they are real and you can purchase them. I found this story at by Craig Donofrio

Just make sure you are ready for the costumers that want to purchase them. This video is a great training video to help you through that.

Lets look at some of the deals

"30393 SW Egger Rd, Hillsboro, OR

Price: $1.175 million
The jolly details: This property isn’t just a 3-acre Christmas tree farm; it also comes with a 6,458-square-foot mansion that has mountain views, three great rooms, a basketball court, and a volleyball court."

 That is the one I would buy personally.  I mean they must make great money if they can live in luxury doing the Christmas Tree business. I sure also that you could play a little basketball after a long hard day watching your trees grow.

"21 Charles Bancroft Hwy, Litchfield NH

Price: $640,000
The jolly details: With over 8,000 trees already grown plus 2,500 freshly planted saplings, this 32-acre farm (no house included) is “rated one of the best Christmas tree farms in New Hampshire” and “grosses over $150,000 between Thanksgiving and Christmas"

There is no house for this one. They do give the numbers on the revenue side of the business. Unfortunate that I have no idea what type of overhead you would have with this business.  Maybe Egg Nog and some Christmas cookies.

I am of course kidding but you can at least see what it could cost to get into the Christmas Tree Business.  Merry Christmas Brett 216-703-5740 Howard Hanna   


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