Thursday, June 30, 2016

Housing Markets Grinding Toward Historical Benchmarks



This article comes from http://www.themreport.com/ by Brian Honea that talks about the housing market and the health of the housing market.

"The national MiMi, which measures the health of housing nationwide, had a value for April was 84.1, which is on the outer range of stable (a value of between 80 and 120 is considered in the range of stable). Year-over-year, the national MiMi improved by 7.37 percentage points and has rebounded by 42 percent since hitting its all-time low in October 2010. April’s value of 84.1 was still significantly lower than the national MiMi’s all-time high of 121.7."

You can see by this statement that the housing prices hit there low in October 2010. Fast forward to today and you see that the housing values and inventory has changed.  For example I do not see the amount of foreclosures I used to see.  In the Phoenix area I noticed a lot of wholesalers( I do not recommend buying anything from them) are now selling more income real estate than flip real estate. That is because the equity in the foreclosures have gotten very tight and they have to look at future equity. In Cleveland I still can get some great deals for flip real estate.

“Among the four MiMi indicators, Purchase Applications increased the most in April, rising 1.77 percent from March and up 15.27 percent year over year,” Kiefer said. “The strong positive momentum in home purchase applications is a good sign for a housing market likely to post the best year in home sales since 2006. Despite strong house price growth, the MiMi Payment-to-Income indicator fell 1.05 percent in March, reflecting the impact of lower mortgage rates. If global factors like the Brexit put significant downward pressure on long-term mortgage rates, the U.S. housing market could benefit from increased affordability, helping to partially offset the impact of house prices, which are rising around six percentage points year over year nationally.”

What they are saying is that the economy as a whole has to get better before interest rates can go up. When the economy gets better and interest rates will go up, but people will still be buying because they have jobs and money to buy housing.  I know that sounds simple but that is all the real estate market and any other market is based on THE ECONOMY.  When it is better you can pay more and when it is not you cannot.

Getting real estate and holding it or selling it in any market is based on the ECONOMY.  I watch and study the trends in my markets and other markets that might effect my market.  Call Brett if you want to get into real estate or just looking for a great home to live in.  Call 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

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Real Estate Millionaires



Ever looked at all the millionaires that have Real Estate as their main asset in their portfolio? I not telling you are going to be one but you have to look at Real Estate it if you interested in becoming one.

Think about all the different ways people have made their fortunes. Many in business and start ups. Most people know of Realtors or Real Estate investors that have done well.  A friend was telling about a father that had done well on income real estate and decided to give his sons a couple of his properties to live in.  These were in nice areas and they had no mortgages.  Being his son had a lot of benefits because of the real estate he had held onto and made money with.

One of my personal clients has a lot of holdings in a major city were the prices have soared recently. He has decided to sell and buy real estate in Phoenix for income.  He has purchased three properties so far with cash from the sales of his rental properties.

I am sure you have heard your fair share of those same type of stories. The key factor is Real Estate may be a great way to create wealth now and into the future.  Markets change and so do values of real estate, but they always come back.  For example in Phoenix Az properties that you could have purchased for under $200,000 in 2008-2012 are now selling for in the mid $400,000's and up. Imagine if you or I had purchased some of those properties.  I still do have one in Phoenix that I will be selling soon.

We have seen the market tank and now we are seeing a sellers market again. When prices were down people were wondering if the prices would ever return to there past glory.  We all know what happened there and prices are still going up.  I read an article yesterday that said we were only 9% off the historical highs.  The big difference then and now is new home builders and the lack of them.

Real Estate may be a great vehicle for you to get your portfolio going.  There is no better way to do it and not have all the headaches of owning a business. Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

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Wednesday, June 29, 2016

How we are different from other Realtors



There are huge differences between what type of experience Realtors have and what type of markets they represent.

For example we just put a property in escrow and have a few items to repair.  Most of the items will be handled by the original contractor.  The rest of the items will need addressed and handled quickly by my team of contractors. As most people know I have a large group of contractors I work with and I know what they charge for most of their services.  This saves both time and money.

So when a repair needs to be done I can handle it for a fraction of the cost of other Realtors.  In fact many Realtors call me for assistance on repairs.  I heard many times were deals get killed in inspections and not having the home ready for it.

Another important factor is making the deal work if changes need to be made.  For example closing dates need to be amended, appraisers have questions on your value, dealing with the sellers or buyers agent.

I had a Realtor recently that kept telling me that every change we needed done was really going to upset the seller.  One day I was showing a home across the street from that home my client was buying and saw the seller working in the garage.  I walked up and introduced myself.  The seller informed me without me asking that he was going to be out of the home 2 days before we were closing and he had it all lined up.  With that information I knew the seller wanted to close and was not upset at all. After that the sale went smoothly and it closed just like my buyer wanted it to.

Dealing with issues and understanding them without over reacting can play a huge part in buying or selling a home. I can tell you many more stories of agents, buyers and sellers I have dealt with for my clients.  In almost all cases the transactions went smooth and my clients were very happy with the transaction. It takes many transactions to understand all the different ways to handle issues and get deals done.

Remember dealing with the issues and being successful require a Real Estate Agent that understands the changing market and who represents the other side of a transaction. Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona 

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Making a difference in your Real Estate Investment Services



There are a lot of Realtors that do Investment Real Estate, but what are the differences in all their services and what do they do during and after each sale. I can't speak for them, but I can tell you some of the services we provide.

Each Investment property we represent gets a detailed plan before we buy them.  For example I look at each home before we consider the property to buy.  You may say that is common and it might be. I put 200-300 miles a week on my vehicle to find the best deals and look at them.  When I am looking at them I am considering many options that the home my need and what that may cost.

We also run the sold properties around that home and carefully look at each one to see what made it sale.  For example there are some neighborhoods that most homes have master Suites in the home (a master bedroom with a bathroom), a finished basement, bathrooms, and other factors.

If we decide to move forward on a property we get all that information, and package it up in an email to our clients.  When one decides to move forward on a property we get all the paperwork together and place the bid.

If we win the bid then I have to get the contractor out immediately to the home and get the detailed quote put together (I have already helped make a budget for the rehab). We formulate a plan to get the property started and finished.

When we close the property and start construction I am going to the property 2-3 times a week and recording the progress every week,  That video is sent to the client to help keep them updates and also used to market the property during construction.. I also do before pictures and video of the property before we start. The rehab usually takes 6-8 weeks to do.  When it takes longer I am still going to the property and videoing it for my client. I have over 2000 videos in my library.  Click here to view.

When the property is done we get the property listed and start marketing, We list the property on many websites and social media outlets.  Brokers open house and open houses(we do them personally in almost all cases) are also done almost weekly(in almost all cases)  until the home is sold.  We also help maintain the lawn if needed and get keep track of the property during the listing.

After the property is sold, I personally email the appraiser the before and after pictures of the home.  We also deal with the inspections and have our repair people ready to go if needed.  Almost all our homes have great inspections because of the rehab and detailed work done before we list the home. We also check with the lender during the sale to ensure they are qualified.

We do this with every property we represent and work very hard for our clients.  This template has been very successful on over 400 rehabbed properties that I have personally sold.  Want these services for your portfolio?  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.  

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Tuesday, June 28, 2016

Look at the New Flip Property we just pick up.




Here is a property we are closing today. We picked this property up to flip.  If you want all the details and projections please sign in below and I will get those out to you. This is a very nice property and it will be a great flip property.  We buy quality properties in great areas. Check out the video and pictures.  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona




Click below to view pictures





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Circle of Champions with Real Estate and Agents



Howard Hanna awards the top ten agents in each office with a Circle of Champions dinner party.  They had one last night in Cleveland and Lori and I were in that circle.  The sales this year have been excellent and we do sell homes.

I telling you this not to brag, I was there for connections and real estate deals.  That room was filled with real estate agents that do the bulk of the real estate listings in Northern Ohio. Howard Hanna is the biggest dog on the block here and going to these get together's helps me get deals. Chatting and getting to know them, lets me explain my needs and wants for properties that fir my clients molds for investment real estate.

For example I was getting ready to leave the event and I ran into an agent I had purchased 4-5 homes from.  She informed of a bank deal she was listing and wanted me to take a lot at it for my clients. it was a great lead and I got reconnected with her. I will be seeing her listing today.  Another agent from our office also told me of a listing she had that might be a great candidate for a flip property. I will be meeting her at our Tuesday morning meeting to get all the details.

Having those types of connections takes time and energy, but they are valuable connections .  I am currently getting 4 homes done to go to market at the end of this week.  I talked to many agents at that event about my clients properties that were coming on the market.  Three agents were very interested and wanted more information on those new listings.

Having an agent that looks for all the deals and goes to these types of events to meet not just Real Estate agents, but the top real estate agents in the market.  These are the agents that have deals with the banks,trust,foreclosures and many other venues that might create an opportunity for my clients.  Call Brett 216-703-5740 Howard Hanna Ohio or 602-363-6551 West USA Realty Arizona


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Monday, June 27, 2016

Another SOLD Flip property in Escrow.

We got one of our clients property in Escrow in Strongsville. This property was a 2006 Square Foot 4 bedroom 2 bath home located in a very nice area. Large lot and close to all the amenities.

I just got the appraisers email and will be sending him a before and after album on the rehab. He will also be getting all the updates in detail.  This will help ensure that the property will appraise and the appraiser has all the information to get a proper appraisal.

We did Open houses, Zillow premier listing,MLS Listing, Realtor.com listing, and many other websites including mine.  We kept up with the marketing and open houses until we got this property sold!

Having a full team of contractors, Realtors, and a detailed marketing plan makes us a one stop shop for all your Real Estate needs. I will be meeting the appraiser over at the home this week also.

Another flip property SOLD and ready to close. Great property and a happy client.

Check out the before and after on this awesome property in Strongsville Ohio.


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Home sales in May increased 7% over those of a year ago



This report comes from http://www.crainscleveland.com/ by  and is a recap on the may sales in the Cleveland metro area.

I show you these reports for two reasons.  The first one is to give you valuable information on the area and help inform you on the local market. The second is to give you what my opinion of the story is and what I see may happen in the future.

Going to local network groups and meetings at my real estate office I see and hear a lot of what is going on in the market.  Phoenix and Cleveland have two totally different types of markets.  The price difference is also substantial in these two markets.  I am always searching the internet for information that may give me and you the upper edge on the future of both this markets.

"  Sara Calo, OAR president and a Mayfield Village agent for Howard Hanna, said in a news release, “Home sales activity throughout the Buckeye State is extremely strong, as our sales totals achieved a best-ever mark for May. Additionally, the marketplace is continuing to experience a steady rise in the average sale price. It’s becoming increasingly evident that Ohioans are regaining confidence that housing is a solid long-term investment.”

This paragraph is true, but they did leave out one big factor to consider also.  New people and business's are coming to Cleveland. These usually means more people will be moving here. This is also a huge factor in the uptick on this local market. Lori just sold a property in the Medina area, and the buyers were moving here from New Jersey for a job re location. I talked to some doctors that were coming to our area for medical training and they were staying here for at least three years. You have to weigh all the factors in the home sales and their pricing.

"NEOHREX reports average home-sale price this May reached $150,620, a 4% increase from $145,100 in May 2015. The region continues to lag average prices in the state as a whole, which climbed 3% to $167,861 this May from $162,819 the same month last year."

The reason for the lag in average prices is appraisals.  It takes a little longer for the prices to rise in some of the smaller cities were there is no new builds happening.

"OAR also reports an estimate of seasonally adjusted annual rate for home sales. It estimates annual sales statewide, based on the May figure, hit 149,818, a 6% gain from the 141,071 in the like month a year ago. The market also experienced a 2.6% decline in sales from the April 2016 seasonally adjusted annual rate of 153,863."

This is a sign that the inventory levels will continue to be low.  Selling more homes and building less is not a formula for long days on market in most cases.

Need to get a home to live in or have for an investment?  Call Brett 216-706-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.


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Sunday, June 26, 2016

Does Open Houses Sell Real Estate



When your selling Real Estate open houses are very important to selling a property.  The are many reasons for this and I want to go through a few of them.

Me and Lori do open houses about every weekend on our listings.  It gets people through and you can see what they like about a home and what they don't. They tell you a lot about the likes and dis likes of the listing.

One example is a property that I had listed, that the backyard looked small. Potential buyers were concerned about the back yard because of a fence that had been placed as more of a art look and a privacy from 1 neighbor.  The problem was is made the back yard look small. When I heard that we attached a picture of the lot on the sliding glass door so that potential buyers could see the size of the lot. This way any buyer could quickly see the size of the lot.

You also have to make sure that your open houses are market correctly and you get interested buyers through your property during the open house hours. Lets face it if you don't get potential buyers through you won't have success in that open house. I have some open house that I get 30 plus people through.

Selling houses at the opens also happens.  I was doing an open house in Strongsville and a Realtor came through with some clients.  I explained all the upgrades and of course the backyard.  They wrote a contract and we are currently in escrow on this property.  Having the open house and being able to explain all the updates on the home helped them pick our listing.

You also get all the neighbors over tduring open houses to check the home out and tell you all the benefits of the area.  For example one neighbor told of the parade that went through a subdivision every July 4th.  Another mentioned that their community pool was voted best in the area.  They also mention to their friends about the home and you may get a buyer from that.

Getting a property seen helps get the word out and I have personally sold 4 homes from open houses. When your selling a property make sure that open houses are part of the marketing plan.  Most areas also have broker opens that get local Realtors through your listing.  If they have current buyers or get a buyer that is perfect for your listing.

Call Brett 216-703-5740 Howard Hanna Ohio or 602-363-6551 West USA Realty Arizona.  

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Professional Listing Service and More

We just sold two homes in 4 days meaning this is a sellers market! Selling in today's market is easier with the right marketing ...