Real Estate 2018: What to Expect

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PA - January 2018 - Digital Marketing Campaign - Pinterest ImageAt the start of every new year, clients always want to know, “What’s going to happen with the real estate market this year?”   

That’s why I am excited to share our latest report: “Real Estate 2018: What to Expect.”

It includes economists’ predictions on home values, interests rates, and more. Whether you’re a current homeowner, or considering a real estate purchase in the future, this report contains valuable insights that could impact you and your investment.

If you have any questions, or if you would like to discuss issues I expect to affect our local real estate market in the year ahead, please give me a call.

I would like to wish you a happy and prosperous 2018. I look forward to another great year of serving clients in our community!

It’s not just potential buyers and sellers who are curious; homeowners also want reassurance their home’s value is going up. The good news is that a strong U.S. economy, coupled with low unemployment rates, is expected to drive continued real estate growth in 2018. However, changes on the horizon could significantly impact you if you plan to buy, sell or refinance this year.

HOME VALUES WILL CONTINUE TO RISE

Get ready for another strong year! U.S. home values and sales volume will continue to   rise in 2018.

Experts agree that home prices will increase in 2018, but predict a slower rate of appreciation than 2017, which clocked in at nearly 7 percent nationwide. National Association of Realtors (NAR) Chief Economist Lawrence Yun predicts a growth rate this year of 5.5 percent,1 while Freddie Mac’s September Outlook Report forecasts a rate of 4.9 percent. Either way, all indicators point towards continued growth in 2018.2

What does it mean for you? If you’re a current homeowner, congratulations! Real estate proves once again to be a solid investment over the long-term. And if you’re considering selling this year, there’s never been a better time. Contact me to request a free Comparative Market Analysis to find out how much you can expect your home to sell for under current market conditions.

If you’re in the market to buy this year, there’s good news for you, too. Although prices continue to rise, the rate of appreciation has slowed. Still, don’t wait any longer. Prices will continue to go up, so you’ll pay more six months from now than you would today. Call us to set up a free, no-obligation property search and get notified about listings that meet your criteria as soon as (or before) they hit the market.

NEW CONSTRUCTION WILL MAKE REAL ESTATE MORE ACCESSIBLE

Lack of inventory in the housing market has been a primary impediment to homeownership for many Americans. “Ten years ago, the problem in the housing market was lack of buyers,” says Yun. “Today, the problem is lack of sellers. Inventory levels are near historic lows.”3

Yun also notes, “The lack of inventory has pushed up home prices by 48 percent from the low point in 2011, while wage growth over the same period has been only 15 percent. Despite improving confidence [in 2017] from renters that now is a good time to buy a home, the inability for them to do so is causing them to miss out on the significant wealth gains that homeowners have benefitted from through rising home values.”1

The good news? Yun expects a 9.4 percentage point increase in single-family new home construction starts.4

Economists at Freddie Mac make a similar prediction. “Existing home sales are unlikely to increase much going forward. Limited inventory will remain a consistent problem … Growth in home sales will be primarily driven by new home sales, which should continue to grind higher with single-family construction.”2

Robert Dietz, chief economist at the National Association of Home Builders, agrees. “The markets that are going to grow are ones where builders can add that entry-level product.”5

What does it mean for you? If you’ve been frustrated by lack of inventory in the past, 2018 may bring new opportunities for you to find a budget-friendly home that suits your needs. Give me a call to discuss options for new construction in our area.

 MILLENNIALS WILL MOVE TO THE SUBURBS

The new entry-level construction will come with a catch though … it will be located in the suburbs, where the availability of land and fewer zoning requirements make it more cost-effective to build. Economists predict that’s where millennials and first-time buyers will flock for the greater variety of homes at affordable prices.6

Rising home prices, a sluggish job market, and an increase in student loan debt made homeownership largely unattainable for many millennials in past years. However, there’s significant evidence that this trend is turning around. For the fourth year a row, the National Association of Realtors’ 2017 Home Buyer and Seller Generational Trends survey found that millennials were the largest group of homebuyers.7

As millennials age, they are settling down and having families, which has prompted an increasing demand for larger but affordable homes. Thus, many are flocking to the suburbs, with 57 percent of millennial buyers opting for a suburban location.

What does it mean for you? If you’re a millennial who has been priced out of urban living, or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer. I can point you towards the communities that will best meet your needs.

BOOMERANG BUYERS WILL RETURN TO THE MARKET

“Boomerang buyers” comprise the nearly 10 million Americans who lost their homes to foreclosure or short sales during the housing recession of 2006 to 2014.

According to MyFico.com, a foreclosure remains on a credit report for seven years. It takes many boomerang buyers at least that long to raise their credit score and save up enough cash to qualify for a new mortgage.8

NEW TAX LEGISLATION WILL IMPACT HOMEOWNER DEDUCTIONS

 The “Tax Cuts and Jobs Act” passed at the end of 2017 nearly doubles the standard deduction, so far fewer Americans are expected to itemize this year. For those who do, however, it could mean less homeowner deductions are available than in the past.

Previously, homeowners could deduct interest paid on the first $1 million of mortgage debt, but that threshold has been lowered to $750,000 for new mortgages. (Existing mortgages will not be impacted.)

Additionally, taxpayers will no longer be able to fully deduct state and local property taxes plus income or sales taxes. The new legislation restricts this deduction to $10,000. It also eliminates the deduction for moving expenses (except for members of the Armed Forces) and interest on home equity loans unless the proceeds are used to substantially improve the residence.10

It’s yet to be seen how the tax bill will impact the real estate market overall. While some economists predict a price reduction in certain markets, Republican lawmakers project the bill will increase take-home pay and stimulate the economy overall. According to Realtor.com Senior Economist Joseph Kirchner, “Some house hunters—particularly wealthy buyers—will see an increase in after-tax income, making an already tough housing market even more competitive. This increased demand could drive prices up even higher than they are already.”11

What does it mean for you? If you’re an existing homeowner, be sure to consult a tax professional if you’re concerned about the impact the new tax bill could have on you.

INTEREST RATES WILL RISE

No one knows exactly what will happen with mortgage rates this year, but the Mortgage Bankers Association anticipates the Federal Reserve will raise rates three times in 2018, with Freddie Mac’s 30-year fixed rate mortgage reaching 4.8 percent by the end of Q4, up from around 4 percent at the end of 2017.12

 Kiplinger.com Economist David Payne also predicts interests rates will rise this year, with short-term rates outpacing long-term rates as the Fed aims to curb inflation in a tightening job market. He predicts the bank prime rate that home equity loans are based on will increase from 4.25 percent to 5 percent by the end of 2018. 13

What does it mean for you? If you’re in the market to buy, act now. Rising interest rates will decrease your purchasing power, so act quickly before interest rates go up. Give me a call today to get your home search started.

And if you’re a current homeowner who is considering refinancing or a home equity loan, don’t wait. I can help you estimate your property’s fair market value so you’ll be prepared before contacting a lender.

I AM HERE TO HELP

While national real estate numbers and predictions can provide a “big-picture” outlook for the year, real estate is local. And as local market experts, I can guide you through the ins and outs of our market, and the local issues that are likely to drive home values in your particular neighborhood. If you have specific questions, or would like more information about where we see real estate headed in our area, please give me a call!

Sources:

  1. Inman News –
    https://www.inman.com/2017/11/03/what-to-expect-from-the-2018-housing-market/
  2. Freddie Mac September Outlook Report –
    http://www.freddiemac.com/research/outlook/20170921_looking_ahead_to_2018.html
  3. org –
    https://www.marketplace.org/2017/07/05/economy/tight-inventory-slows-housing-market-down-0
  4. National Association of Realtors Press Release –
    https://www.prnewswire.com/news-releases/existing-home-sales-to-grow-37-percent-in-2018-but-inventory-shortages-and-tax-reform-effects-loom-300549447.html
  5. Fox Business News –
    http://www.foxbusiness.com/features/2017/11/27/entry-level-buyers-drive-solid-new-home-sales.html
  6. Zillow Research –
    https://www.zillow.com/research/2018-predictions-17217/
  7. National Association of Realtors’ Home Buyer and Seller Generational Trends Report –
    https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends
  8. com –
    https://www.myfico.com/crediteducation/questions/foreclosure-fico-score-affect.aspx
  9. RealtyTrac –
    http://www.realtytrac.com/news/foreclosure-trends/boomerang-buyers/
  10. National Association of Realtors –
    https://www.nar.realtor/taxes/tax-reform/the-tax-cuts-and-jobs-act-what-it-means-for-homeowners-and-real-estate-professionals
  11. com –
    https://www.realtor.com/news/real-estate-news/tax-cuts-survey/
  12. Mortgage Bankers Association Economic Forecast –
    https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary
  13. Kiplinger Economic Forecast –
    https://www.kiplinger.com/article/business/T019-C000-S010-interest-rate-forecast.html#iOf4mkSFvvTmi2wr.99

Lake County History – Average Sale Price Last 5 years by month.

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Avg Sale PriceClick on the link below to pull up a PDF – Lake County History of Average Sale Price per month.  If you are into statistics or even if you are not, you will likely find the information very interesting. Sale prices in Lake County have continued to increase month after month beginning 2016. The shortage of inventory and multiple offers has certainly been a factor in increasing prices.  If you have any questions or would like to know a particular area, please let me know. I am happy to help.

 

Lake County Ohio Sale Price Average

If you or someone you know is looking to buy or sell, it would be my privilege to assist.

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Cut Your Own Christmas Tree at these Northeast Ohio Farms

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Cutting Christmas Tree   Are you looking to cut your own tree this holiday season? Listed below in alphabetic order by city are many located in Northeastern Ohio.  Have Fun!
NORTH CORNER FARM
13800 Butternut Road, Burton Township
440-785-3692
northcornerfarm.com
Open 1 p.m. to 5 p.m. Monday through Friday and 9 a.m. to 6 p.m. on Saturday and Sunday.

SOBUSTA FARMS
11380 Thwing Road, Chardon Township
440-357-8568 or 440-256-1768
soubustafarms.com
Open Nov. 24 through the weekend before Christmas on Fridays from 1 p.m. until dark and Saturdays and Sundays from 9 a.m. to dark.

SUGAR PINES FARM
9500 Mulberry Road, Chester Township
440-729-1019
sugarpinesfarm.com
Open beginning Nov. 24 from 9 a.m. to 5:30 p.m. Saturdays and Sundays (and the day after Thanksgiving); noon to 5:30 Mondays, Tuesdays, Wednesdays and Fridays, and noon to 8 p.m. on Thursdays.

KATHY’S CHRISTMAS TREES
6861 Williams Road, Concord Township
440-352-8779
Open 10 a.m. to 4 p.m. Saturdays and Sundays

MOUNTAIN CREEK TREE FARM
7185 Williams Road, Concord Township
440-354-8928
mountaincreektrees.com
Open Nov. 18 through Dec. 24. Open Saturdays and Sundays and the Friday after Thanksgiving from 9 a.m. to 5 p.m.; Tuesdays through Fridays from 1 p.m. to 5 p.m. Closed Mondays.

DIVENCENZO FAMILY TREE FARM
16101 Island Road, Grafton
440-926-3873
divichristmastree.com
Open on Saturdays and Sundays until Dec. 17, check the website for hours.

RHODES SISTER
12020 Clay St., Huntsburg Township
440-636-5498
Open starting Nov. 24 seven days a week from 10 a.m. to 5:30 p.m.

SARNA’S TREE FARM
1137 E. Jefferson St., Jefferson
440-576-3450
Sarnastreefarm.com
Open beginning Nov. 24 from 9 a.m. to 6 p.m. Thursdays through Monday. Closed Tuesdays and Wednesdays or by appointment.

BENDER TREE CHRISTMAS TREE FARM
3381 Sheffield Road, Jefferson
440-944-5240
bendertree.com
Open Nov. 24 through Dec. 23 from 9 a.m. to 6 p.m. on Fridays, Saturdays and Sundays.

WILCOX TREE FARMS
17620 Diagonal Road, LaGrange
440-355-4027
wilcoxtreefarm.com
Open Nov. 24 through Christmas every day 10 a.m. until dusk.

EMERALD RIDGE CHRISTMAS TREES AND WREATHS
7000 Warner Road (Route 307), Madison Township
440-428-6132
ohiochristmastree.org/emerald-ridge
Open beginning Nov. 24 Fridays 1 p.m. to 5 p.m. and from 10 a.m. to 5 p.m. on Saturdays and Sundays

WINTERGREEN TREE FARM
3898 Winchell Road, Mantua Township
330-221-3835
wintergreentreefarmohio.com
Open Nov. 24 through Dec. 19 seven days a week from 9 a.m. to nightfall.

PINEY PARADISE TREE FARM
1647 Snyder Road, Monroeville
419-668-9334
piney-paradise.com/index.html
Open Nov. 25 through Dec. 17 Saturdays 9 a.m. to 5 p.m. and Sundays 11 a.m. to 5 p.m.
677 S. Norwalk Road West, Norwalk
419-668-9334
Open starting Nov. 24 weekdays only from 3 p.m. to 5 p.m.

MANNERS CHRISTMAS TREE FARM
780 Dodgeville Road, New Lyme Township
440-294-2444
Open seven days a week Nov. 24 through Dec. 23. Weekdays 9 a.m. to 9 p.m. and weekends 9 a.m. to 5 p.m.

KENNEDY LANDSCAPING & TREE FARM
320 Bowhall Road, Painesville Township
440-352-6769
kennedyco.com
Open starting Nov. 25 seven days a week from 9 a.m. to 6 p.m.

GRAND RIVER VALLEY CHRISTMAS TREE FARM AND GIFT SHOPPE
3553 Laskey Road, Rome Township
440-563-1811
christmastreesohio.com
Open Nov. 24 through Dec. 23 from 9 a.m. to 6 p.m. on Fridays, Saturdays and Sundays

MCKOSKY TREE FARM
14740 Leroy Center Road, Thompson Township
440-298-1412
Open Fridays, Saturdays and Sundays from 9 a.m. to 5 p.m. starting Nov. 24

SPENCER’S TREE FARM
2611 Chenango Road, Wakeman
440-839-3018
Open starting Nov. 24 on Fridays from 1 p.m. to 5 p.m. and Saturdays and Sundays from 9 a.m. to 5:30 p.m.

TREASTER’S TREE FARM
13184 Gore Orphanage Road, Wakeman
440-965-7411
Open starting Nov. 17 from 10 a.m. until dark Fridays through Sundays.

KURTZ CHRISTMAS TREES
22350 Quarry Road, Wellington
440-647-3507
kurtzchristmastrees.com
Open 10 a.m. to 7 p.m. seven days a week, starting Thanksgiving Day.

LOG BARN FARM
8711 Stanhope Kelloggsville Road, Williamsfield Township
440-293-7330
logbarnfarm.com
Open daily Nov. 24 through Dec. 17 from 10 a.m. to 5 p.m.

GREIG CHRISTMAS TREE FARM
35900 Eddy Road, Willoughby Hills
440-487-7158
Open starting Nov. 25 on weekends 8 a.m. to 7 p.m. and weekdays 4 p.m. to 7 p.m.

Storage Ideas For Small Bathrooms

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bathroom small spaces

Is your bathroom small? It’s the worst, isn’t it? Well, unfortunately, small bathrooms are very common, and are usually the smallest rooms in the house. I can almost bet that it almost always feels cramped and tight in there. Although the square footage doesn’t change, a change of organization and storage space can make a drastic change to how your bathroom feels. Here are a few tips and tricks to make your bathroom space feel more functional and spacious.

  •  Medicine Cabinet
    If you have a regular mirror, replacing it with one that includes a medicine cabinet and provide further storage space.

  • Shelving
    If you have free space above your toilet, vanity, or other another empty part of the wall, install shelving units. Purchase a few decorative baskets to maximize shelf space.

  • Hooks
    With a few decorative hooks, in a style of your preference, you can declutter by placing a couple on the back of the door to hang towels or robes. Perhaps one or two right next to each end of the shelving unit you just installed.

  • Towel Racks 
    A rack installed inside of you shower can save you space and convenience, also adding an additional shower bar above the original will work nicely. Another idea is installing a few racks a couple of feet above each other or right next on another. If you have an excessive amount of towels, store some of them away in the bedroom closet.

  • Vanity with Cabinet
    I have come across plenty of pedestal sinks in small bathrooms, but if you want save some space, add some storage, and upgrade the look of your bathroom at the same time, a vanity cabinet will definitely do the trick.

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10 Tips to Turn Your Neighborhood Into a Hometown Haven

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If you’re considering a move, you may be worried about replacing the comfort and support of family and friends you’ll leave behind. Or maybe you’ve completed a move and would like to meet more of your neighbors. We’ll explore 10 ways you can utilize technology to foster in-person connections with your neighbors, make friends and get engaged in your local community.

  1. Join Your Neighborhood’s Social Network
    A growing number of neighborhoods are utilizing private
    social networks like U.S.-based Nextdoor and Canadianbased
    GoNeighbour. These platforms are a great way to
    share neighborhood news, but don’t just use them to
    connect virtually. Extend an invitation to your neighbors to
    attend a block party or a park playdate for families.
  2. Lend A Hand
    Volunteering your time and talents is a great way to meet
    people who share a similar mission. Search for volunteer
    opportunities you’re passionate about at VolunteerMatch.
  3. Attend A Place Of Worship
    Joining a local place of worship is a good way to meet
    people who share your beliefs and values. There are a
    variety of on-line resources available to help you find a
    match in your area.
  4. Find An Interest Group
    Whatever your favorite hobby or pastime, you’re guaranteed
    to meet people who share your interests when you join an
    interest group! The website Meetup.com has over 32 million
    members in 288,000 groups in 182 countries. You can
    search for a group that appeals to you … from book clubs to
    running groups to professional networking, they have it all.
  5. Take A Class
    Develop a skill while meeting people who share your
    interests and passion for learning. Most community
    colleges offer inexpensive classes on a variety of topics. To
    search for one in your area, visit the American Association
    of Community Colleges website or Schools In Canada.com.
  6. Attend An Event
    Search for a live event in your area at Eventbrite –
    eventbrite.com. Be strategic about the type of event you
    choose to attend. For example, it may be harder to meet
    people at a large festival or concert. A retreat or a
    networking event could offer more opportunities for
    one-on-one interaction.
  7. Share Your Stuff
    “Sharing communities” facilitate the free exchange of goods
    among neighbors to reduce consumption and keep usable
    items out of landfills. Nonprofit groups like The Freecycle
    Network – freecycle.org and Little Free Library –
    littlefreelibrary.org are made up of people who are
    giving (and getting) stuff for free in their own towns and
    neighborhoods.
  8. Support A Community Garden
    Not only do community gardens beautify a neighborhood,
    they also foster community, conserve resources and
    reduce family food budgets. Visit the American Community
    Gardening Association website to search for a community
    garden in your neighborhood.
  9. Carpool With A Coworker
    Carpooling presents an opportunity to form a bond with coworkers
    and/or neighbors during your daily commute. A new
    wave of carpooling websites and apps aim to revolutionize the
    way we commute by making it easier and more convenient
    to carpool. Kangaride Local – local.kangaride.com, Scoop –
    takescoop.com and Waze Carpool – waze.com/carpool are
    just a few examples. Check to see if any of these are available
    in your local area.
  10. Participate In World Neighbors Day
    The organizers behind World Neighbors Day promote it
    as “an invitation to share a moment with your neighbors,
    to get to know each other better and develop a real sense
    of community.” Participants are encouraged to organize
    gatherings with their neighbors to build relationships that
    “form the fabric of our communities.” Whatever you do, be
    sure to make your gathering inclusive and welcoming to all.

Be A Good Neighbor As with anything in life, you will get out what you put in. It can take time to build lasting and meaningful friendships with your neighbors, but the effort you make is likely to pay off tenfold. The tried-and-true way to make friends, grow your support system and get engaged in your community? Be a good neighbor yourself.

Are You Considering A Move? I am a local market experts and can help
you find the ideal neighborhood for your hometown haven. Please contact me for
a free consultation!  Search for Homes for Sale  

Ten Reasons to List Your Home During the Holidays

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As with every decision in life, there are pros and cons and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. This is the furthest from the truth. Certainly most real estate markets across the United States experience a “spring market rush” every year. There is no doubt that the “spring market” is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.

Less Competition – Most people wait until spring and summer to list their home, which means during the winter you will have far less competition than any other time of the year.

Serious Buyers Are Out There – Homes are sold and bought 365 days a year. Many homeowners believe that buyers aren’t out there during the fall and winter months. This simply is not the case. Serious buyers are always out there! Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.

Mortgage Rates Are Low – If you’ve read about real estate in the past year, it’s likely you’ve read that the mortgage rates are low.  You also probably read that there is an expectation that the rates will increase very soon. Since mortgage rates are so low right now, buyers are able to afford more expensive homes. If mortgage rates increase over the fall and winter months while you’re waiting for the spring market, it could cost you thousands of dollars as it could eliminate many buyers from the real estate marketplace! Less demand for your home will mean less money. Bottom line: take advantage of selling your home while the rates are this low.

Quicker Transactions – Right now, there are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have fewer loans to process and home inspectors have fewer inspections to do. All of these factors should lead to a quicker transaction and closing for all the parties involved. A quicker transaction is going to be less stress for you.

Homes May Show Better During the Holiday – Buyers love homes that can tell a story.   The holidays are a great time to show homes because the home is usually dressed up for the holiday season. Simple “seasonal” staging such as adjusting the color of the decor or having an aroma in the air that is relative to the time of year can go a long way with some potential buyers and possibly be the difference between a home selling or not.

January is the Biggest Transfer Month – Did you know that more corporate moves happen during January than any other time of the year? This may be a great reason to list your home during the holiday season.

More Time to Get Top Dollar – By starting to market your home early you may be able to secure a higher price.

Tax Benefits – By selling now you can have a closing before or after the new year for tax purposes.

More Time – Buyers may be looking at homes more during the holidays because of vacation time.

Showings – Yes, there may be fewer buyers during the winter months, but great prospects!

By considering all of the reasons above, you will be able to determine whether now is a good time to sell or if you should wait until the spring.

The Incredible Joy of Owning Your Home

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LRE Social Blog

If you haven’t bought a home yet, you’re missing out on a wonderful feeling! That moment when you walk through your doors, throw your purse or keys on the floor, plop down on your couch and breathe a sigh of relief while thinking, “Finally, it’s ours (or mine)!” And the joy of looking at all of your boxes, getting to roll your eyes about why you buy so much stuff, then giving yourself a moment to take a nap because you worked hard to get here and earned it! Yes that’s a real feeling!

We often hear, and read, about the cost effectiveness of home ownership. The equity build-up, the freedom it can give us from finances in our retirement years, and a plethora of other ways owning a home can be a positive impact on your bottom dollar. But we don’t often hear about the emotional impact owning a home can have. Yes there will be days the fridge is acting silly and you need to call your home warranty, or days you have to get outside to mow your own yard, but nothing beats the pride and joy of owning a home.

There is a sense of security, and a sense of “this is mine and I worked my way up to this moment,” that provides moments of bliss. The ability to do with your home as you please, not pay a pretty penny for every member of your fur family, and the privacy it provides can’t be beat.

Home ownership also gives you the ability to put down some roots. And we mean that figuratively and literally. You get to build memories through the holidays and go through many milestones with your family, that leave a significant impact into the later years. You also get to build bonds with your neighbors, and grow in a community oriented neighborhood. With rentals, people come and go annually, but there are deeper roots planted with building relationships with those living next to you. Potlucks, 4th of July and New Year’s Eve spent lighting fireworks, and just the excitement of getting to know each other and build new relationships.

Buying a home isn’t about the dollars and cents for everyone, sometimes it’s just about the joy of owning your own place, and getting to build amazing memories in it. If you’ve been longing for this, get in touch with a real estate agent, and make it happen. You owe it to yourself to make your dreams come true!

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Key Professionals in a Real Estate Transaction

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When you are buying or selling a home there are a number of individuals you will come in contact with.  Here are some of them:

  1. REALTOR® – A REALTOR® is a licensed real estate agent and a member of the National Association of REALTORS®.  They also belong to their state and local Associations of REALTORS®.
  2. Listing Agent – A listing agent or broker forms a legal relationship with the homeowner to sell the property.  The listing agent’s responsibility and fiduciary duties are to the seller.
  3. Buyer’s Agent – A buyer’s agent or broker works with the buyer to locate a suitable property and negotiate a successful home purchase.  The buyer’s agent’s responsibility and fiduciary duties are to the buyer.
  4. Home Inspector – A home inspector can be hired by the seller before they put their home on the market or by the buyer when an offer has been accepted.  The inspector provides a comprehensive analysis of a home’s major systems and components.
  5. Loan Officer – A loan officer is a representative of a bank or financial institution.  They help customers identify their borrowing options and help them understand the terms of the loan.  A seller should also meet with a lender before putting their home on the market so they know the “big picture” of their financial situation.
  6. Appraiser – An appraiser works on behalf of the lender and provides a market analysis of the subject property. An appraiser’s finding is subjective and combined with market data of sold properties within the surrounding neighborhood.
  7. Insurance Agent – An insurance agent helps a home buyer determine the coverage needed and finds the right insurance policy for the home.
  8. Real Estate Attorney – In some states, real estate closings can only be conducted by an attorney.  They can give advice on all legal aspects of a real estate transaction. Such as drafting and reviewing contracts, help with how to take title and assist with the closing process.
  9. Escrow/Closing Officer – An escrow or closing officer is a non-biased third party who works with all participants to facilitate a successful closing of a real estate transaction. At the closing, the closing officer will collect the purchase money funds from the buyer and settlement costs from each party.  The will prepare and record all necessary documents to transfer ownership of the property.
  10. Title Company – The title company will search the title and provide title insurance policies to produce clear property titles and enable the efficient transfer of real estate.

Get my free ebook…7 Home Seller Tips before You Sell.  Do you live in Northeastern Ohio/Cleveland area and want to know what your home is worth?  Find out Today.  Looking to find a home in the Greater Cleveland area, get the most up-to-date listing…Search Like an Agent.  Get my free-ebook…10 Things You Need to Know Before Buying a Home.  Was your home listed and it expired?  Get your free expired report on what went wrong and how to fix it!

I am here to help! Guiding You Every Step of the Way!