5 Tips to Selling a House in the Winter

1. Price Your Home to Sell – Realtors in Cincinnati and elsewhere will tell you to be reasonable on your asking price, but this is especially true in the winter months. If you are a new listing you have to realize you are competing with stale holdover listings from the Summer and Fall. Proper pricing gets attention and can lead to a faster sale.
2. Use the Right Real Estate Pictures – Make sure that your home has exterior images on days where there is no snow, and there is tons of light. That image is the first thing a potential buyer will see online. If you think you may sell in the Winter get a picture in the Fall before the leaves and snow fall.
3. Clean Up Your Front Yard – Snow only covers so much, so make sure you clean up all of the Fall leaves, branches, and rake out the flower beds. Make sure that your exterior lights are all in good working order, and shovel / salt your driveway and walkway every day. You never know when you will have a showing!
4. Winterize Your Home’s Decor – Yes it is winter, but that is not license to cover every square inch of your house with Christmas decorations in early November and leave them up until February.  Seasonal decorations are certainly appropriate, but aim to make the decorations highlight the home not overshadow it. Remember that you want the home to appeal to as many people as possible.
5. Warm Your Home Up – In Winter you want a home to feel as warm and welcoming as possible. That means two things in particular: Lighting and Heat. If you do not have a lot of overhead light in the home go out and purchase additional floor lamps to make rooms look bright and inviting. Also set your thermostat higher, if possible, when you know you have showings. Nothing is more comforting that walking into a toasty house from a snowy driveway.

Interested in listing your home this Winter? Contact us to talk about how we can help you sell your home.

By and large sellers in Cincinnati tend not to list their houses in the winter months of the year. Therefore the housing inventory shrinks creating less competition for your home.  Houses that are excellent shape and priced appropriately stand out in winter and outshine the competition that tends to be hold-overs from the summer buying months.

Regardless of conventional wisdom there are buyers that need to buy this winter, and if your home is in great shape and is priced right put it on the market this winter and stand out in the crowd. Contact us for a listing appointment today!

Selling your home For Sale By Owner

As the former CEO found out, selling your home by owner comes with its challenges. While he marketed his home through his network and on his own website, he was not able to get his home seen by enough people. The visibility that the Cincinnati Multiple Listing services provides home sellers is unmatched.  Since Cincinnati real estate agents work cooperatively, every agent in the city has access to every listing. Furthermore the network of real estate agents with buyers is the network sellers want to tap into.

Most For Sale By Owners will list with a Real Estate Agent.

AGBeat columnist Herman Chan said, “If people want to take a stab at For Sale By Owner (ie FSBO), go for it. But well over 80% of FSBO’s eventually have to list with an real estate agent to get their house sold. It’s harder than it looks!” The marketing, buyer network, pricing insights, contracts, negotiation assistance, and the legal protection are all benefits of working with a real estate agent. The bottom line is that attempting to save money by selling By Owner may actually cost you much more than the 6% commission in the end. Most people would agree that paying a real estate agent a commission when your house sells is a lot better than not having your house sell at all.

Interested in a listing consultation? Contact Alison and Brett today.

Tips for First Time Home Sellers:

PRICE IT RIGHT FROM THE START!

Pricing your home right when it originally lists is the best thing you can do. You receive the most interest and traffic in the first 2-3 weeks after you list. Make it as attractive as possible by pricing it competitively for the neighborhood.  Even then in this market buyers will be looking for just the right house, so the idea is to attract the largest pool of buyers early with a competitive price.

PREPARE TO LOOSE SOME MONEY

In this market in these times home sellers are taking losses. It is a tough fact to face. Their home values are down, but the positive news is that in most cases the home they are going to buy has also experienced a decline in value.  Your home in only worth what the buyers are willing to pay. Make sure you use comparable sales information in pricing your home, and be ware of any agent that can promise huge gains and does not present data to back up their claim.

PROMOTE YOUR SALE

In today’s market you need an agent who is marketing the home across a variety of channels and getting your listing in front of as many people as possible. Placing a listing in the MLS system is simply not enough. If you interview and agent and do no them talk about their Facebook Professional page, their Twitter account, their web site, or how they syndicate your listing across a number of website then you have an agent that is not doing enough to promote your listing.

What is Driving Affordability in Cincinnati Real Estate

There are a number of factors that are driving up the affordability of real estate in Cincinnati and across the country. As the economy begins to add approximately 100,000 jobs per month, more households are seeing their finances stabilize.  While credit is more difficult to obtain due to more stringent lending practices, home values continue to stay low. The Case-Shiller index declined again in May, noting that nationally home values have decreased.

Combining these three major factors, and you can see how those who are in the market for homes are looking at a market that is highly favorable to them. Simultaneously sellers continue to feel the downard private pressure.  If you are in the market for a home, especially if you are a first time home buyer please contact me at 518.1140

A recent report by MRIS details survey results from hundreds of buyers and sellers in today’s current market compared to recent years. Between the market price volatility, changes in lending practices, and the foreclosure influx having a professional to guide you through the process is as important as it has ever been. In the survey MRIS identified a few key reasons that buyers and sellers want to work with an agent.

Top Five Reasons Homebuyers want to work with agents:

1. Knowledge of closing procedures
2. Negotiating the best price
3. Understanding their needs and wants
4. Knowledge of the community
5. Responsive to their emails and calls

Top 5 reasons Home Sellers want to work with agents:

1. Setting the right price
2. Effectively marketing their property
3. Understanding their needs and wants
4. Negotiating the best price
5. Knowledge of closing procedures

If you are looking to buy or sell property in Cincinnati contact me at 518-1140.

The Ohio Dept of Health (ODH) is pushing for additional regulations making radon testing almost twice as expensive and radon mitigation could be impacted similarly. All disputed regulations are from Ohio new rules 3701-69-07 Appendix A and 08. A copy of the draft rules are located at http://www.odh.ohio.gov/rules/drafts/d3701-69.aspx

New Radon Testing Rules Will Impact Cincinnati Real Estate Sales

1. When the l the home being tested is over two thousand square feet, an additional test location is required for each additional two thousand square feet. So if a home is over 2001 -4,000 sf, the tester would have to conduct 2 tests.
2. Unoccupied homes shall be tested with the heating, ventilation, and air conditioning (HVAC) system set and operating throughout the measurement interval in the normal range, such as seventy-two degrees Fahrenheit plus or minus five degrees Fahrenheit. Most home owners keep their HVAC units on, but foreclosures tend to have them shut off. This would impact those homes the most.
   
3. Conduct a short-term test in each of the lowest structural areas suitable for occupancy in the home. For example, if the home is a split-level building with one or more foundation types, test in the basement, in a room over the crawlspace, and in a slab-on-grade room. In accordance with this protocol, measurement licensees are required to test in each of the foundation types. Theoretically, a bi-level home would require at least 2 radon tests set, if not three depending on the the number of foundation types.
4. Sump pump pits are not to be used as the primary radon mitigation location.  Many Radon systems are installed into the sump pump pits because it is inexpensive and effective. This change will require additional work and potentially increase the average radon system cost.
   
5. Finally the ODH reserves the right to audit mitigation systems, in the interest of being certain of the quality of the mitigation as well as safety of the homeowner.  The additional cost could be shouldered by the taxpayers at large, the installers, or the homeowners as part of the system installation

This is great information for new buyers and current sellers to know. I am unsure if these rules will be retroactive or not but it is something to keep an eye on especially if you already have a radon mitigation system in your home.

1. Clean the House
This sounds so simple yet home owners often overlook this tactic. Home inspectors are people first and inspectors second. As people, they carry preconceived ideas of how well a
home has been maintained. Clean homes say you care and take care of the house.

2. Be On Time Because the Inspector Will Be
Sometimes home inspectors are early. If an inspector makes an appointment with you for
9:00 a.m., have the house ready for inspection at 8:30. It’s also common for inspectors to
start on the exterior of the home, so leave the shades down or drapes drawn until you are
dressed. More than one unprepared seller has been “surprised” by a stranger stomping
around in the back yard.

3. Leave the Utilities Connected
The home inspector will need to turn on the stove, run the dishwasher, test the furnace and air conditioning, so leave the utilities on, especially if the house is vacant. It’s impossible to check receptacles for grounding and reverse polarity if the power is turned off. Without utilities, the inspector will have to reschedule, which could delay the closing of your transaction and the removal of the buyer’s home inspection contingency.

4. Provide Workspace Around Furnace and Water Heaters
Remove boxes, bookcases, furniture and anything else blocking access to your furnace, air
conditioner and water heater. The inspector will need three to four feet of working space to
inspect these items.

5. Keep Pilot Lights Ignited
Many home inspectors will refuse to light pilot lights because they are not covered for that
type of liability. If your pilot lights are not lit, then important items such as the water heater, gas stove or furnace will not be inspected and the buyer could delay closing until those inspections are completed.

6. Provide Access to Attic and Garage
The inspector will need to get into your basement and / or attic as well, so keep a path
cleared. Move boxes away from the walls. Vacuum spider webs.

7. Leave Keys for Outbuildings & Electrical Boxes
Leave the remote controls for your garage door opener or a key if the garage is unattached
to the house. Unlock the covers for your sprinkler system and electrical box. Leave a key for exterior building access.

8. Clear Away Brush from Exterior Inspection Points
Nobody expects you to shovel a tunnel around your home if snow drifts are blocking the
foundation but, in the winter, do provide a path around the house. In the summer cut down dead tree branches and clear brush from the foundation. Move trash cans away from the house.

9. Provide Repair Documents
Make available to the home inspector all invoices and documents regarding remodeling
projects or new items such as a roof or furnace. If you’ve upgraded the electrical from
ungrounded to grounded, installed a new dishwasher or repaired a leaky faucet, find the
paperwork. It will give the buyer peace of mind to know those items were re-inspected.

10. Prepare to be Away for Three Hours Minimum
Often the buyer will accompany the home inspector, and buyers feel uncomfortable asking
questions if the owner is present. Try to schedule a time for the inspection when you can be out of the house, and take the children with you. Crate your pets if you cannot remove them from the premises.

Can the average household with average income buy an average home?

Compared to the rest of the nation Cincinnati has a few things in its favor. The report lists the national median home price at $177,900, and Cincinnati’s median home price at $137, 250.  Our home prices are 22% less expensive than the national average. On to of that our median household income is $8,000 higher than the national average. These two things combined give Cincinnati an affordability index of 257 vs the national average index of 172. In this case a bigger number is better!

Lowe’s has some great tips on Fall maintenance-

1. Clean out the gutters – after the leaves are all done falling clean out the gutters so that when the winter snows melt and the spring rains come that water will have somewhere to go aside from into your attic!

2. Move your Potted plants and Potters – Bring in your smaller potted plants so they do not freeze over the winter and make sure that any empty potter are moved into the garage or somewhere they will not freeze and crack.

3. Rake your leaves – because if they sit on your lawn they will leave unsightly brown patches. They block the sun damage the grass underneath them. If you have a mulching mower you can also mow the leaves a number of times to chop them up very fine and the material will compost into your yard. Just make sure they are dry when you do it!

4. Weed and Feed – your lawn will rebound faster if you feed it in the late fall. Also take the opportunity to pull out the crabgrass and spray the dandelions that are still hanging around.

If you take care of these things in the fall your lawn and home will look its best in the spring!