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Wednesday, August 31, 2016

Real Estate Services that other Real Estate Agents don't have



We offer a full menu of services that will help you in getting real estate.  Our services are all for our clients and we enjoy serving you.

Does your agent have construction, Real Estate lawyer, Lenders, Tax attorney to lower your property taxes, knowledge of the areas, and a YouTube channel to report all your upgrades you do in your home? If not call us

Our services are affordable and we sale homes. Call Brett 216-703-5740 Howard Hanna and
602-363-6551 West USA Realty. We service Arizona and Ohio in Income Real Estate and Real Estate you call home.  Over 1000 properties and counting.


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A Forgotten Corner of Cleveland Bounces Back



Great story from http://www.zillow.com/ by Melissa Allison that talks about a couple who are buying, renting and living in the west Cleveland area called Ohio City.  They call their part Hingetown and it is a fire house and strip malls that they have purchased and leased. The area is full of artiest and very creative people that think outside the box in almost everything they do.  This couple looked at the area and turned it into real estate gold for them and the city.

That is why I really like the Cleveland area and I see huge growth in the area for higher end real estate. The downtown areas on the west side are really maturing into great eateries and shops. In fact I have had diner in one of their strip malls eateries and it was delicious.

"Hingetown went from being a place that regularly saw prostitution and drug activity — along with a vice squad sting on their first night at the firehouse, which Graham called “very grounding” — to a place people frequent for its art, coffee and tea and flower shops, juice bar and cycling studio."

This area is also close to Lake Erie and that also helps the area attract more real estate investors. Also a great place for a young family to buy a fixer upper and live in it a few years. I think this area will really grow in price after they have all the amenities in place.



"“This was a forgotten corner of Ohio City, and it had a lot of problems, but we felt strongly that this was the right place for us,” said Fred Bidwell, who’s excited to make his new home in Hingetown. “We currently live on 15 acres in the middle of the woods. It’s gorgeous, but it’s lonely. We can’t even get pizza delivered there. It’s going to be so great to live in a factory building which has no landscape but has views and is in walking distance of pizza.”"

Amenities close by are what any buyer of real estate wants.  They want to know that they can catch a movie, dinner, theater, or just grab a night on the town. That is what makes the difference in areas that really appreciate in price and quality of living. People will pay for a great quality of living.

"The vacancy rate in Ohio City’s core commercial district has fallen from 40 percent just six years ago to less than two percent today, said McNair"

There you go the area has almost no vacancies.  Buying Real Estate is one thing, but buying real estate in the right areas to live in and invest in is another. Call Brett 216-703-5740 Howard Hanna to get a Tailored Plan for your Real Estate.  I offer more services that can help you with Construction, Financing and any other real estate need.

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Tuesday, August 30, 2016

Could have saved home buyers $40,000

BEFORE

AFTER 

I was doing an open house last Sunday in my Independence home and some people came through that had bid on the property when we originally purchased it.  I ask them what their offer was on the property and it was $40,000 higher than my offer and I got the home.

As we talked they told me they needed a inspection period before they would purchase the property.  They had little or no experience in what construction cost was.  They also did not know how to look at home and the repairs needed.  They had heard certain things and nightmares people told them they heard about somewhere. That really limited them on getting a deal.

When I walked in the property I talked to the owner and went through the home looking at the major parts of the rehab that may need to be done. The two things that stood out was the driveway and the roof.  Especially the roof, the original owner had added a roof that was really horrible and it requires a lot of shingles. The roof needed 30 sheets of plywood and new shingles. I had to calculate all the numbers to make sure the home worked for my client.

Having the knowledge of what material cost help me offer $40,000 less for the home as is and no inspections. The seller took my deal immediately also because she wanted to move to Florida with her family. I gave her a cash offer and a 2 week close that saved my client $40,000. We got the home finished very close to budget and this home will sale shortly.

Having a Professional Realtor that can help with the rehab and the potential cost of them is priceless. Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.  Getting your Tailored Real Estate Plan can save you big with us. 

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Purchased another Flip Home



This home is a great example of thinking outside the box when looking for a piece of real estate to buy and sell. This home had been on the market a bit. It needed some updates on the interior and a finished basement.   The neighborhood has a great recreation area that includes a pool, it was also close to all the amenities in the downtown Strongsville area .

The home was built in the 90's and has a newer roof. The property was not a bank foreclosure, but an estate sale.  I went in an offered the family a cash offer and they countered the price. Went back to go over the numbers on the rehab and what I could sell it for.  We stuck with our original price and they took the deal.

When your looking at any property the key is knowing the numbers. This home will start construction today and I cannot wait to finish it and get it on the market. We purchased this home for $165,000

Buying and selling real estate in this tight inventory market takes someone who is professional and understands all the different neighborhoods. Call Brett 216-703-5740 Howard Hanna. I will create a tailored real estate plan to for your goals.


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Monday, August 29, 2016

Home Sales Increasing Faster in Counties with Low Natural Hazard Risk



Love this story the first I have seen on this issue.  Buying real estate as an investor you need to look at what natural hazard risk your State or area has.  This study comes from https://thinkrealty.com/ and it talks about the sale price differences between areas that have high risk and low risk areas.

"ATTOM Data Solutions’ just-released 2016 U.S. Natural Hazard Housing Risk Index found that home sales in the first six months of 2016 increased 4.2 percent from the same time period a year ago in the bottom fifth of U.S. counties with the lowest level of natural hazard risk—more than twice the 1.9 percent increase in the top fifth of U.S. counties with the highest level of natural hazard risk."

This is an important factor not just for the more than twice increase in prices, but it is another potential problem you could have when you are getting income from your real estate portfolio. I always have looked at that issue and stayed away from those areas.

"“While price and affordability along with access to jobs are the primary drivers in local markets with strong increases in home sales activity in 2016, it’s evident from this data that natural hazard risk does make a difference to homebuyers and investors who are active in this housing market,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. "

"“Even among the subset of counties where the median price is below the national median as well as among the subset of counties where home prices are still affordable for average wage earners, there is a consistent trend of stronger increases in home sales volume compared to a year ago in the lowest-risk markets for natural hazards compared to the highest-risk markets.”"

People like to have a stress free life whenever they can and natural hazards can cause a lot of stress. If you watch the news you can see floods that really effect peoples life. Keeping it out of your real estate life is important.

You could probably guess that the counties I buy a lot of real estate in are in the low natural risk areas.

" Among larger counties with at least 5,000 home sales in the first six months of 2016, those with the lowest risk index were Cuyahoga County, Ohio (Cleveland); Lake County, Illinois (Chicago area); Kent County, Michigan (Grand Rapids); Maricopa County, Arizona (Phoenix); and Montgomery County, Pennsylvania (Philadelphia metro area)."

The two counties in Green are my main focus and one of the reasons I buy real estate in these counties for my clients. Less Headache and more money because of the low risk hazard areas. We look at the local economy and all the other factors that need to be present when buying real estate also.

"Over the past five years, increases in home sales volume has fallen below the overall national average in counties with the highest risk of earthquakes, hurricane storm surge, wildfires and floods, while counties with the lowest risk for those natural hazards have seen home sales volume increase at a faster pace than the national average over the past five years."

There is a lot more in this report that you should look at. keeping track of real estate trends and how they effect my clients portfolios in real estate is one of the services I offer.  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona. Giving you a Tailored real estate plan.


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The 6 Stages of Flipping a Home



This article comes from http://www.zillow.com/ by Christina El Moussa that talks about how HGTV flippers look at buying a flip property and how they think about it.

Finding a Deal

"If you’re looking for a really great deal on a fixer-upper house, you’re going to be searching for a diamond in the rough, and that’s exactly what we do."

"We drive around the neighborhoods where we’re most likely to find great flip houses. We search through the MLS. We take a look at listing sites like Zillow."

I do that for my clients, and look on the MLS and auction sites that deal with distressed real estate. Going and looking at each potential property takes a lot of time and energy. Make sure you have the time to locate a property that might work as a great flip.

When your wanting to get a flip real estate project make sure you know what your budget is and look for homes that fit that mold. Sometimes it takes 30-40 properties that I look at before I get a home for my clients.

The fear of what the contractor tells you 

"Whether it’s a whole new roof, new electrical wiring, new plumbing, or any other major project, when one of our contractors tells me that they need to do a really expensive job that we didn’t budget for when we bought the house, I get a little bit scared."

"Before I know it, numbers are running through my head, and I have to take a step back and think about how much of the budget is going to be taken up by this surprise."

"Then, as I get things in perspective, I look for places where we can save money and places where we can still splurge some to get the best results possible."

This does work well. The key is to be a professional flipper as these HGTV stars seem to be. When your buying 1-2 homes a year, you cannot keep a contractor busy all year.  This means that you will probably be using different contractors a lot.  This will cost more money for you, just make sure you really check out the contractors resume. Also understand the cities building codes and what is required by law to do. For example in Ohio some cities do their own inspections and require you to repair their items. Sometimes that can be an extensive list and you need to see it before you purchase a property.

Make sure your contractors are registered with the city and have all the insurance and licences need to work in a particular city.

I do 40-60 homes a year and have the ability to keep contractors busy.  This really benefits my clients and saves them money. It also gets their property on the market sooner to sale. They are also all city compliant.

Just keep in mind that when you do a few homes your cost will be higher than someone who does multiple properties and can keep contractors busy all year round.

"Some of our house flips are in neighborhoods where you absolutely need real hardwood floors and marble countertops. In other areas, we can get away with high-quality laminate floors and quartz or another less expensive countertop material."

"Whatever the case, I never use materials or appliances that I wouldn’t be happy with in my own home."

That is true and you do not want to over spend on upgrades that are not needed. I think an easy way to get started is to always remodel the kitchens and bathrooms. I like to add wood to my properties in the living areas.  You can find the engineered wood on sale a lot and it adds class to the home, it also helps the appraisal.

They have 3 other stages in this story that you might want to read.  Having a seasoned Realtor that has done the flip business for over 16 years and 100's of homes, helps your chances in the flip business. I personally help find the right real estate for my clients flip needs. Call me and we can discuss your Tailored Real Estate plan.  I'm Brett 216-703-5740 Howard Hanna Ohio and
602-363-6551 West USA Realty Arizona

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Sunday, August 28, 2016

Home sales fell in Ohio, nationwide in July, amid concerns about low supply



This is a great snapshot of what is going on in this real estate market. Low supply is a problem for buyers and a god send for sellers. This article comes from http://realestate.cleveland.com/ by Michelle Jarboe, The Plain Dealer. That talks about how the low inventory is effecting the buyers and their home purchases.

""Realtors are reporting diminished buyer traffic because of the scarce number of affordable homes on the market, and the lack of supply is stifling the efforts of many prospective buyers attempting to purchase while mortgage rates hover at historical lows," Lawrence Yun, chief economist for the national trade group, said in a written statement."

Buyers in this market are jumping on the available real estate that is on the market today. I have 4 homes on the market and 4 more coming on soon. This market allows properties that are listed to stand out a lot more in the right neighborhoods.

"Kristin Reynolds, an economist at the IHS Global Insight research firm, echoed that concern, though she said that low borrowing costs along with steady employment and income levels bode well for housing - if people can only find the right houses."

That is the case in this market. When people need homes they will usually find them in this very tight market. I did an open house last Sunday that had over 40 people through. There is a pent up demand for good housing.

""It's very difficult to sustain growing sales volumes when there simply aren't many homes for sale," Svenja Gudell, chief economist for real estate data company Zillow, said in an emailed statement. "What's more, those homes that are for sale are increasingly unaffordable for first-time and entry-level home buyers.""

They are not building enough homes for first time home buyers and that does effect the entry level market. If you do have a home that fits that mold then your golden if you want to sale it. We just closed on a home that was entry level and the buyer is excited to move in. I cannot believe all the paperwork that had to be provided to get this home closed, but we did and everyone is happy. That is why it is so important to use a Realtor in any real estate transaction.

""Homes that do sell are selling faster," she added, "suggesting that buyers are on the sidelines waiting for suitable homes to become available.""

That is the case with the exceptional low interest rates. The buyers are buying when they find the right home. For example we have the only home in a city that is priced in the mid $200,000's. There is no other homes that are priced at that price. This area has homes in the $600,000 range.

Looking for a home at a certain price range and area? Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona and I can get a Tailored made real estate plan for your needs.  Whether you are an investor or home buyer I can take care of all your needs in Real Estate. 

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Saturday, August 27, 2016

New Real Estate Videos for 8/27/16



Have some updates on properties that we are working on.  It has been a busy week and I am working on 2 closing for my flips. It is a constant job keeping up with closings and appraisals. This week I had to send a detailed item list and the cost of each item we rehabbed to an appraiser for the lender. Also we had to have a sidewalk done in a day and passed through the city in another closing.  We go it all done. That is what a Full Service Realtor should do for you.

Real Estate is not just about what we can sale the property for, but making sure that all the rehab we do makes our clients money. We work hard for your business and love our Clients!

Keeping the lawns mowed and the homes looking good with fresh water for the plants keeps the properties looking top notch.

Lets go through the ones we are working now.

2425 Westlake property will be done on Monday.  This video was done on Friday morning and there has been a ton of finishing work done today.  All the carpet is in and the doors are installed. Monday we will be doing the finishing touches and getting this property listed.

Click here to view this property

6182 Seven Hills Ohio property is getting finished also.  We are getting the basement finished and the new bathroom framed in. Also finishing up the tile and cabinets.  There was a lot of extra work done on the electrical also. This property will be very close to finished next week.

Click here to view this property

6543 Seven Hills Ohio  property is also moving along. All new bathrooms and the tile is competed in the kitchen and entry way. The kitchen cabinets and flooring will start going in next week. This property should also be very close to being finished next week.

Click here to view this property

1130 Mayfield Heights has all the painting completed and we have started the paint the exterior. That should be completed next Tuesday.  The contractor will start getting the interior finished and we also have to get the exterior completed.

Click here to view this property 

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7505 MYSTIC RIDGE RD, CHAGRIN FALLS, OH — 4 Bedroom 5 Bathroom

This 4 bedroom, 5 bathroom Single Family for sale is located at 7505 MYSTIC RIDGE RD, CHAGRIN FALLS, OH 44023. View 31 photos, price histo...