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Friday, September 30, 2016

New remodeled home for sale in Seven Hills Ohio



Want a home that has been remodeled from top to bottom? Look no further this is you home 2362 Sq foot 4 bedroom 2 1/2 bath wide open floor plan. This home will impress your friends and family.

 This lovely, spacious, 4 bedroom, 2 -1/2 full bath, 2362 sqft split level home is stunning. Located on a quiet cul-de-sac, it has tons of great features including a dream eat-in kitchen complete with new cabinetry (2016), granite countertops with backsplash (2016), new tile flooring (2016), recessed lighting (2016), and new stainless steel appliances; dishwasher, range, microwave (coming soon), large family room with fireplace, adjacent covered patio and stylish wood flooring (2016), large living room, formal dining room, nice sized master with en suite, home completely repainted from top to bottom with neutral colors (2016), new carpeting and lighting (2016), both Full baths and 1/2 bath have been redone (2016). This home is gorgeous!

Call Brett 216-703-5740 Howard Hanna Oho and get your taste of the goof life.

$204,900  


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Selling Lease Options for Profit




Watch this new video I just finished and look at adding lease option real estate to your portfolio. We have 2 states we work in Ohio and Arizona.  These homes we purchase will attract professionals that are searching for a home.

We handle all the work for the length of your Lease Option.

They may not be able to get the financing now, but will in the future.  We will have a qualified mortgage agent qualify each potential tenant-buyer.

Setting up a system that works for your needs and wants is all we do.  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona I can help you with all your real estate needs! 

Why housing doesn’t care about the Fed?

Here is a great article from http://www.cnbc.com/ by Diana Olick that talks about if the interest rate goes up will that effect home sales?

"How can it be: If the Fed raises rates, won't mortgage rates spike and people will stop buying houses?"

" No. First, mortgage rates don't exactly follow the federal funds rate. They follow mortgage bond yields, and those yields loosely follow the yield on the U.S. 10-year Treasury."

What she explains is that the treasury bills (Government borrowing money) has an array of reasons for going up.

"Treasury yields move on several other issues, particularly on monetary policy overseas. So mortgage rates popped higher last week because the European Central Bank freaked out global financial markets. Now there is all kinds of drama in Japan too. And remember, as for the Fed moves, mortgage lenders like to price in all these expectations before the actual event happens. That's why mortgage rates rose last December in anticipation of the first rate hike and then fell after that due to other global economic issues."

This is why the interest rates for mortgages are sometimes not effected. There are a ton of issues that effect the rate.  As she said in the above paragraph they raise interest rates on rumors the feds are doing it. They also do not always raise mortgage rates when treasury bills go up in rate.

When the interest rate does go up then that economy will be expanding at around 3%-5%. That will not effect home sales, because people will have the money to buy the homes and better jobs.

"The Fed raises rates when it feels like the economy is strengthening, and a strong economy is good for housing. Income growth, job growth, consumer confidence — all of these help people buy homes."

The key in that paragraph is consumer confidence and that really is what drives all the markets.

" Supply. Home inventory has been falling for over a year and is now near record lows. Supply is weakest where we need it most, which is in starter homes. The number of these homes for sale is dropping at double-digit rates annually, according to Trulia. High-end homes are not having the same problem. The supply issue is causing prices, which are rising anyway, to rise even more. Mortgage rates, up or down, are much less of an issue now than affordability. And remember, just because rates are low doesn't mean everyone today can qualify for a loan"

This article pointed out a key factor for me, that is that  not everyone can qualify for a loan today.  There are still a lot of people re-building their credit and want to buy a home. The inventory is also the other problem especially starter homes.

Need a home or income real estate I know where to look.  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona
 

Transforming houses into homes

This weeks videos have been downloaded and there are a lot of new construction finished this week. Every week I give my clients updates through videos so they can see the work as it is completed. It is also used for advertising the home to sale. Lets look at this week premier real estate,

6543 Seven Hills Ohio is completed today.  Yesterday they had to do a few small items that needed to be done. They were all finished last night, I talked to the contractor at 7 pm last night. I will be getting final pictures and video for this home shortly.  In the meantime check out this weeks video, especially the lawn area.

 



6182 Seven Hills Ohio is moving a long.  The home was a major remodel and we are finalizing the basement and new bathroom area. This home will be very close to completion next week.  The new finished basement, bedroom, and bathroom will add a lot of value to this home.

 

 

1130 Mayfield Heights is also getting finished. You will notice in this video that the yard has been done with a whole new look. This property has a large yard and the lawn package we added really makes this property stand out! Also we are giving this home a whole new finished basement area.  Check out this new update video.


 

Looking for any type of real estate?  I give you the personalized attention your property deserves.  I do not do all properties that are offered to me. When I do assist a client in a property I am all in on both the work needed and marketing the property.  Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.  The hardest working agent in the Planet 
 

Rental report for August 2016 In Arizona


 

 


Looking at the report put out by ARMLS in Arizona the report was published on the 9th of this month.  It shows that the Average Lease was $1499 a month and Average Days on Market was 28 days.

The amount of doors that were leased out just in the month of August was 2537 properties. That puts the total amount at 18,640 properties rented in 2016.

That is a lot of people looking for homes to rent.  Phoenix is a fast moving city that requires professionals that understands the needs and wants of potential tenants. Building a nice monthly income is not that difficult with today's interest rates.

These properties also build excellent equity that you can cash on at a later date.  Most experts believe that optimum time to hold a property for is 5 years before you sell it. During those 60 months you can collect income from those properties,

We have all the services lined up to help you with your income producing real estate. Call Brett
602-363-6551 West USA Realty

U.S. Housing Prices Inch Higher

 

 
 

Housing inventory and available new builds continue to be a huge problem in this market.  The prices are back to what they were in 2006.  This article and report comes from http://www.themreport.com/ by Kendall Baer.

"The index, which calculates home sales price information from mortgages sold to or guaranteed by Fannie Mae and Freddie Mac, showed that house prices grew nearly 6 percent compared to July 2015. Seasonally adjusted monthly price changes from June to July ranged from an increase of 0.2 percent in the Middle Atlantic division to an increase of 1, to 216.3, percent in the East South Central division. The West North Central region also reported a gain of almost a full percent, finishing July at a seasonally adjusted rate of 238.2"

That is not a huge percentage of home price growth, but a steady one. With the lack of homes to buy it is an extremely low inventory of homes.  Not really building any new homes for 10 years and not building first time home buyers homes in some areas will create a consistent price increase on homes for the near future.

"  According to FHFA, the U.S. house price index (purchase-only) now stands at 236.1. The benchmark of 100 was set in 1991. The latest number comes after an upwardly revised value of 235 in August. Year-over-year, house prices are up from an index of 223.1 in July 2015. The index has steadily risen every month since its nadir of 179.51 in March 2011."

This may seem to be a boring article, but it is a wealth of knowledge for the future of Real Estate. With the steady manageable home price growth lease options may be the way to go. It allows the best in both the monthly income and making money on the sale of the property.

Lease Options are usually less maintenance and purchased in the right areas have quality tenant-buyers. When the tenants know that the home is their home in the future, they tend to take care of them better. They also tend to pay their rents on time,

With the housing shortage and lack of inventory, there are a lot of buyers in this market that want to purchase real estate through lease optioning. Call 216-703-5740 Howard Hanna Ohio and
602-363-6551 West USA Realty Arizona. I can personally manage your lease option real estate.  

Why it is time to look at Lease Optioning

 

Lease Optioning is an excellent way to blend having a monthly rental income and flipping a home. Today's real estate market makes it an excellent way to add a lot of value to your real estate portfolio.

In 2001-2002 I purchased several properties that I lease optioned out to tenant-buyers. In all those cases I closed the homes for great retrurns in 2004-2005. The homes had grown in equity and I helped the tenants find mortgage companies they could choose from. It was a win win for both the tenant buyer and me. I am currently looking for a new home for one of these previous buyers.

Today I see the same type of real estate market. The key is getting the right homes and areas to purchase this type of real estate. Areas that have not seen a lot of price growth probably will not work for lease optioning, but there area a lot of areas with price growth that will work.

With the tighter inventory and less bank owned real estate, finding real estate that can make money is a bit harder.  Lease optioning really boost your net returns on a property. You get to double dip in the rent and the sell of a home.

The other nice thing about lease optioning is that you usually do not do repairs on the home after you sell it on an option. Also rehabbing is a lot less money, because you don't have to do all the upgrades that are needed in a flip property. Basically it is treated like a sale of a property.

Here is a recent property I posted approx numbers

Offer              $105,000
Rehab            $  20,000
 
Total              $125,000
 
Rent              $     1400
Tax               $        338
P/M              $        140
Insurance      $         80
 
Net                $       842
 
Lease option Price ( 2 years)
                      $170,000
 
That is approx over a 40% return on this home on a two year option that closes. 
 
The key is getting the right home in the right areas and that is what I do.  Let me set you up in Ohio or Arizona with some great lease option real estate that could earn you a great income.  I will also manage these properties to help ensure there successful closings. 
 
Call Brett I have done 100's of these and I want to serve your real estate needs. Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona

Builders are lagging far behind home demand

 

 

This article focus's on the northeast Ohio Region for real estate sales.  I continue to study the market trends for housing.  It is important to understand were real estate pricing is today and were it will be tomorrow. It also helps me inform my clients what is going on in this current market.

This article comes from http://www.crainscleveland.com/ by Stan Bullard.  He goes into the lack of new home builds in Northern Ohio.

"NAR estimates a three-year shortfall in the Cleveland-Elyria-Mentor area of 9,144 single-family homes and in the Summit-Portage MSA, 6,464. Incredibly, for slow-grow Northeast Ohio, that is in addition to 7,030 single family permits in the Cleveland-Elyria MSA and 2,142 such permits from 2013 to 2015 as home-building climbed from the cellar."

New home sub divisions are few and far between. There is a need for new home construction, which also means there is a need for real estate.

""Inadequate single-family home construction since the Great Recession has had a detrimental impact on the housing market by accelerating price growth and making it very difficult for prospective buyers to find an affordable home — especially young adults," Yun said in a news release. "Without the expected pick-up in building as job gains rose in recent years, new and existing inventory has shrunk, prices have shot up and affordability has eroded, despite mortgage rates at or near historic lows.""

 Although with the lower interest rates some buyers are moving up in home prices. I think buyers are all different and you need to look at what type of professionals are buying in areas.  For example I showed a home last night to a teacher and he wanted to buy his first home in Strongsville. He had looked in other areas and decided that the best area for him was Strongsville. The reason was the homes were newer and he liked the area.

A lot of buyers want certain types of homes and they need them to be in the areas they deem good. This particular buyer liked newer homes and open floor plans.  We are going back this weekend to look at this home with his wife.

"Welcome to home building in 2016, when demand is back for properly priced properties and the worry builders face is about the prospects that get away."

Home buyers today are looking for that perfect home. With all the paperwork and inspections on each home sale that can sometimes be difficult. I have clients that do a lot of remodels and buyers like the new type of rehabbing done in each home. We are finishing up a home now that we added a whole other floor. It will all be sparkling new. The home got a new bathroom and bedroom area.

Buying a older home and remodeling can be a an alternative to buying new builds, There are plenty of homes that need TLC and can be brought back to like new. The key is getting the right real estate in the right area that will benefit your equity position the most.

Need a home to buy or sell?  Need one that will also benefit your portfolio now and in the future? Call Brett 216-703-5740 Howard Hanna Ohio and 602-363-6551 West USA Realty Arizona.
 

Studying the Real Estate Market and understanding it

 

 
I always read articles about the current real estate markets to understand the direction of it. I particularly watch the Ohio and Arizona real estate markets to understand all the different facets of the housing market.

For example in 2008 I noticed that the downtown Cleveland was being re-constructed. Let's face it there are not a lot of large metro downtown's that need updated! When you look at other successful downtown's loke New York, San Francisco, Seattle, and many more it is not cheap to live there.

I have a friend how is moving from the Cleveland Area to Los Angeles. He lives on a Golf course community here that cost $300k-$500K to live in.  I golf this course almost every week and it is very nice and upscale.

Fast forward moving to Los Angeles, he has major sticker shock.  To live in a neighborhood he considered was good for his family (no golf course though) it is $900,000.  That is a 200% increase in cost of living for his family. I also explained to him that restaurants and other family activities were going to much higher also. Imagine the rents the business's have to pay in Los Angeles.

So you can see why Cleveland still has a ton of room to go on pricing.  We do have Lake Erie that acts and looks like an ocean with beaches and awesome scenery. Prices are moving up here and things will get more pricey, but they have a very long way to go before they reach Los Angeles prices.

In Phoenix Arizona prices have went up in pricing as well.  The key factor that they are starting to look at is making the downtown Phoenix area very nice. The downtown is ok now, but could really use a face lift and that would cause home prices to soar to new heights. Were you buy in Phoenix is crucial to your equity success.

Watching the news and sales data on trending real estate is a daily thing.  I go over 10-12 articles a day to understand this market and were it is heading. With the election and all the other uncertainties you need real estate in portfolio that has a great chance of over preform in the future real estate markets.

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

What I look at with homes for my clients

 

 
 
This home is going to move quick. It is a 3 bedroom 2 bath home in the Phoenix metro area.  The home is over 1400 SQ Ft and has a double car garage.  This property would make a great income property or lease option.

Lets go over the Approx numbers

Offer                         $190,000
Rehab                       $  10,000

Total                         $200,000

Rent                         $1200
Tax                           $   97
P/M                          $   96
HOA                        $   42

Net                            $ 923

This property is in a great area and will attract quality tenants. We have all the services needed for income real estate already set up in Arizona if you need it.  Call Brett 602-363-6551 West USA Realty Arizona
 

 

Remodeled just finished in Seven Hills

 

 

Here is a home we just finished in Seven Hills Ohio this home: 2362 Sq feet 4 bedroom 2 1/2 bathrooms.

This lovely, spacious, 4 bedroom, 2 -1/2 full bath, 2362 sqft split level home is stunning. Located on a quiet cul-de-sac, it has tons of great features including a dream eat-in kitchen complete with new cabinetry (2016), granite countertops with backsplash (2016), new tile flooring (2016), recessed lighting (2016), and new stainless steel appliances; dishwasher, range, microwave (coming soon), large family room with fireplace, adjacent covered patio and stylish wood flooring (2016), large living room, formal dining room, nice sized master with en suite, home completely repainted from top to bottom with neutral colors (2016), new carpeting and lighting (2016), both Full baths and 1/2 bath have been redone (2016). This home is gorgeous!

This home is remodeled from top to bottom. Check out the video below and call Brett 216-703-5740 Howard Hanna.  This home is like new!
 


 

 

 
 

Check out this weeks rehabs and updates!

 

 

Check out all our updates on our YouTube Channel

 

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Thursday, September 29, 2016

Rental report for August 2016



Looking at the report put out by ARMLS in Arizona the report was published on the 9th of this month.  It shows that the Average Lease was $1499 a month and Average Days on Market was 28 days.

The amount of doors that were leased out just in the month of August was 2537 properties. That puts the total amount at 18,640 properties rented in 2016.

That is a lot of people looking for homes to rent.  Phoenix is a fast moving city that requires professionals that understands the needs and wants of potential tenants. Building a nice monthly income is not that difficult with today's interest rates.

These properties also build excellent equity that you can cash on at a later date.  Most experts believe that optimum time to hold a property for is 5 years before you sell it. During those 60 months you can collect income from those properties,

We have all the services lined up to help you with your income producing real estate. Call Brett
602-363-6551 West USA Realty 

Get a Free Report on our Income Real Estate Program


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Nice Income Property in the Phoenix Az Area nets $900+



This home is going to move quick. It is a 3 bedroom 2 bath home in the Phoenix metro area.  The home is over 1400 SQ Ft and has a double car garage.  This property would make a great income property or lease option.

Lets go over the Approx numbers

Offer                         $190,000
Rehab                       $  10,000

Total                         $200,000

Rent                         $1200
Tax                           $   97
P/M                          $   96
HOA                        $   42

Net                            $ 923

This property is in a great area and will attract quality tenants. We have all the services needed for income real estate already set up in Arizona if you need it.  Call Brett 602-363-6551 West USA Realty Arizona


Get a Free Report on our Income Real Estate Program


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Wednesday, September 28, 2016

Studying the Real Estate Market and understanding it



I always read articles about the current real estate markets to understand the direction of it. I particularly watch the Ohio and Arizona real estate markets to understand all the different facets of the housing market.

For example in 2008 I noticed that the downtown Cleveland was being re-constructed. Let's face it there are not a lot of large metro downtown's that need updated! When you look at other successful downtown's loke New York, San Francisco, Seattle, and many more it is not cheap to live there.

I have a friend how is moving from the Cleveland Area to Los Angeles. He lives on a Golf course community here that cost $300k-$500K to live in.  I golf this course almost every week and it is very nice and upscale.

Fast forward moving to Los Angeles, he has major sticker shock.  To live in a neighborhood he considered was good for his family (no golf course though) it is $900,000.  That is a 200% increase in cost of living for his family. I also explained to him that restaurants and other family activities were going to much higher also. Imagine the rents the business's have to pay in Los Angeles.

So you can see why Cleveland still has a ton of room to go on pricing.  We do have Lake Erie that acts and looks like an ocean with beaches and awesome scenery. Prices are moving up here and things will get more pricey, but they have a very long way to go before they reach Los Angeles prices.

In Phoenix Arizona prices have went up in pricing as well.  The key factor that they are starting to look at is making the downtown Phoenix area very nice. The downtown is ok now, but could really use a face lift and that would cause home prices to soar to new heights. Were you buy in Phoenix is crucial to your equity success.

Watching the news and sales data on trending real estate is a daily thing.  I go over 10-12 articles a day to understand this market and were it is heading. With the election and all the other uncertainties you need real estate in portfolio that has a great chance of over preform in the future real estate markets.

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


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Pepper Pike 4 Bed 2 1/2 bath $309,900

Call Brett for a Private showing or if you have any questions  4 Bedroom 2 1/2 Bath 2494 Sq Ft Finished basement  Motivated Sell...