Cleveland Real Estate And More

Whenever we have our initial meeting with our buyers, we always ask them detailed questions about what they are looking for in a home. Included in our list of questions is "what 3-5 things must your next home have?" We then go on to formulate a list of "must haves" and "wants" in an effort to find them the right match.

In our experience, however, at least 50% of buyers end up buying something that did not fit their original parameters. Although buyers may say they absolutely positively need something, they will often fall in love with a home that may not have everything they initially said they wanted.

Here are some examples of what some of our buyers initially said they wanted, and what they ended up buying:

WANTED                                              BOUGHT

4 BR home                                           3BR home, with an additional office/den

3 car garage                                        perfect home, but had a 2 car garage

older home with charm                        new construction

home on 1 acre                                    townhouse

home in city X                                      home in city Y

brick colonial                                        vinyl sided ranch

Think about this another way. If you are married or have a significant other, is your spouse exactly like you had imagined he or she would be? In our case, my wife wanted tall, dark, and handsome, and got me instead. In fact, she was hesitant to even go on a date with me when we first met because she didn't think I was "her type."  By keeping an open mind, Amy found the man of her dreams ( me ) and 13 years later, we've never been happier.

So, although buyers think they know exactly what they want, we think it's best to communicate with your agent regarding what you want and why and be open to some suggestions from us on homes that you may not have originally considered.

If you keep an open mind to looking at homes that may not fit your exact parameters,  you may be surprised at what you end up falling in love with and buying.

Here are some other articles of interest for buyers:

Moving Up In A Down Market Can Make Sense 

How Much Can I Get That Home For?

Why Using A Buyer's Agent Is Important

How Long Home Components Should Last

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans service primarily the Eastern suburbs of Cleveland have worked with numerous professional athletes, business owners, and executives who are relocating to Cleveland. They specialize in the Cleveland Ohio luxury home market and also enjoy working with first-time buyers as well.

If you are looking to buy or sell Cleveland real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW:

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Buyers- Open Your Mind And You May Be Surprised What You Find is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Feb2010  

Thinking of Selling Your Home - Why Wait, The Buyers Are Out There Now

First time and move up buyer tax credits set to expire April 30^th and buyers are out in full force looking to take advantage of the $8000 or $6500, courtesy of Uncle Sam. The problem is that much of the current inventory here in Greater Cleveland has been on the market since the fall and there is nothing new or exciting for the buyers to see. Today's buyers are demanding a totally finished product.   Most of the homes sitting on the market haven't sold because they either need too much work or are outdated. However, if you offer them what they want, they will buy.

Have you been thinking about selling your home, but were afraid that there may not be interest?  Concerned you may not get the price you want because of the slow market?  Now may be your golden opportunity, especially if you a have an updated home.

While many sellers like to wait until the spring, this may be a bad move this year. Buyers are out there now, and the longer you wait, the more competition you will face.

This is especially true in some of the areas that we service, such as Solon, Orange, Moreland Hills, Pepper Pike and Beachwood. We recently had over 50 different buyers see one of our listings. Many of them are still out there looking and waiting for something new to come on the market. 

If your home is a nice, finished product and you are thinking about a move, you should seriously consider putting it on the market now while demand is high. In fact, many experts predict a temporary sellers market during the month of April, as the tax credit deadline quickly approaches.

You have nothing to lose, so get your home ready and sell it now. The buyers are waiting.

See Other Articles Of Interest

Tips When Selling A Home In The Winter

Solon Luxury Homes - 2009 Year In Review

Solon Real Estate - 2009 Year End Home Statistics 

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans service primarily the Eastern suburbs of Cleveland have worked with numerous professional athletes, business owners, and executives who are relocating to Cleveland. They specialize in the Cleveland Ohio luxury home market and also enjoy working with first-time buyers as well.

If you are looking to buy or sell Cleveland real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW:

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Thinking of Selling Your Home - Why Wait, The Buyers Are Out There Now is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Feb2010  

Most people are aware of the $8000 home buyer tax credit and the official April 30th deadline to be eligible. If you are unaware or want more detailed information, here is a list of questions and answers regarding the tax credit that may be helpful.  

However, while many think they have plenty of time to act, based on how a real estate transaction works, and the many obstacles that can sometimes get in the way, buyers should be warned that time is running out and waiting until the end of April to find a home could be a bad move, and here's why:

1.     Loss of leverage. If you wait until the last minute, the sellers will realize that you stand to lose $8000 if you don't get under contract by the deadline, and may play hardball during negotiations.

2.    Loss of money  - Let's say you do get under contact by April 30^th and inspection issues then arise. Negotiating repairs or a reduction in purchase price during the month of May, AFTER the deadline has already passed could be difficult. Will you be willing to walk away from a home because of $3000 worth of repairs and risk losing the $8000 credit? Probably not, and the sellers know this as well.

3.    Loss of the entire $8000 credit - Once again, even if you do get under contract by the official deadline, what happens if something comes up during the inspection or financing process that kills your deal. If you have passed the official deadline or don't have enough time to find another home, no credit for you!

4.    Increased competition toward the end of April - An increased demand for homes in April due to the credit could create a temporary sellers market, driving up prices and creating bidding wars. Good news for sellers, bad news for buyers.

5.    Rates may increase over the next 90 days - Interest rates are at historic lows. However, many experts believe they will start to creep up after the end of the first quarter ( March 31st ), meaning increased monthly payments to home buyers who wait.

In light of this information,  we have a simple tip for buyers:

Make April 1^st your unofficial deadline to get under contract. This way, if for some reason inspection issues come up or something keeps your transaction from moving forward, you will still have time to move on to option 2 ( hopefully you have one ) and take advantage of the tax credit. 

Oh, and, for buyers who don't act because they think the tax credit will be extended again, don't count on it. With midterm elections coming up, and the American public in an uproar over spending on Capitol Hill, a costly extension will not happen.

So what are you waiting for? Go pick out a great home and get paid $8000 by the government, and whatever you do, don't wait until the last minute or you'll have no one to blame but yourself if things don't work out. 

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans service both the East and West sides of Cleveland and specialize in assisting first time buyers, luxury home buyers, and those who are relocating to Cleveland.

If you are looking to buy or sell Cleveland real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW:

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Home Buyer Tax Credit - Is The Deadline Really April 30th? is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Feb,2010

This post was written by Lisa Udy, a top producing agent in Logan Utah. We feel it will bring value to our readers and hope they take this information to heart.

South Euclid Open House Extravaganza - 15 Homes On Tour This Sunday

This Sunday, January 31st will be a unique open house opportunity for South Euclid home buyers. Eighteen ( 18 ) homes from eight different real estate companies will be held open to create a mass open house to provide home buyers an easy way to see a lot of homes in a short amount of time. Houses will be open between 1-4PM.

Although the recent snow and cold weather has kept local buyers at bay, the recent thaw and timing of the $8000 home buyer tax credit should make this open house event an excellent opportunity, especially for first-time buyers. With interest rates at historic lows and home prices extrremely favorable, there has never been a better time to buy a home. Since buyers must be under contract by April 30th, 2010 to be eligible for the tax credit, this event is a perfect time for local buyers to get started with the home buying process.

Homes that will be on tour this Sunday range in price from $102,000-$150,000 and include a mix of 3 and 4 BR homes with a variety of styles and features.  

Companies involved in this spectatcular event are:  2000 Professional Realty, Coldwell Banker Hunter Realty, Howard Hanna, J. Petty Realty, Keller Williams Realty Greater Cleveland, Laronge-Wagner Realty, Realty East, Inc., Re/Max Home Source, & Re/Max Premiere Properties

Here is a sample of one the fantastic homes that will be on the grand tour: 

4170 STONEHAVEN RD

TOTALLY UPDATED ---A SMART CHOICE FOR THE PICKY BUYER WHO WANTS A FINISHED PRODUCT

A list of all available homes will be available at every home on the tour, along with a map of all listings.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans have extensive knowledge of South Euclid and the east side suburbs of Cleveland and specialize in working with first time home buyers.

If you are looking to buy or sell a home in the Cleveland area, please contact the Schuman Team at 216-346-3235. 

VIEW ALL CLEVELAND AREA  HOMES FOR SALE BY CLICKING BELOW:

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

South Euclid Open House Extravaganza - 15 Homes On Tour This Sunday is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan,2010

A "Secret" List Of Bank Owned Homes - The Truth Revealed

We have had a lot of buyers tell us they want to buy a bank owned home. So, we create a personal home search for them where a list of homes that fits their parameters is sent to their email directly from our MLS ( Multiple Listing Service ). This is the most up to date database of homes available. We then explain how new homes will be emailed to them as they come on the market.

However, over the course of time, many buyers, curious to see if there is anything else out there, will come across sites that advertise "a Secret list of bank owned homes", and want to know why these "great" homes didn't show up on the search they receive from us. 

The answer is simple: these homes don't exist.

There is no secret database of foreclosed homes at deep discount prices. Quite simply, all bank owned homes are listed with real estate agents, appear in the MLS, and are available to be shown by any agent.

What you will find on line, however, is companies advertising a list of bank owned homes, perhaps with limited information on the home, and then require you to sign up and pay a monthly fee to get a list of homes sent to you. I am certainly not being negative about these companies.  I am merely stating that all they are doing is reselling information that any good agent can get you for FREE.

I personally saw one of these popular websites indicate there were over 100 foreclosed homes in my personal community of Solon, Ohio. The reality is that there are actually only 4 bank owned homes currently on the market here. Are these companies engaging in questionable and deceptive business practices, I'll let the consumers be the judge. However, I will caution home buyers from accepting everything they see on line as being accurate.

So, there are two things to be learned here:

1. If something sounds too good to be true, it usually is.  And,

2. Why pay for something that you can get for free. 

Don't be fooled by information you see on line. A good real estate agent will be able to bring all homes for sale to your attention, including ones that are bank owned.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans service both the East and West sides of Cleveland and specialize in assisting those who are buying bank owned homes within the luxury home marketplace, and executives who are relocating to Cleveland.

If you are looking to buy or sell Cleveland real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW:

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 A "Secret" List Of Bank Owned Home - The Truth Revealed is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan,2010

SOLON BANK OWNED HOMES

While many companies sell consumers lists of bank owned homes, the lists being offered are rarely accurate. So, save your money, don't pay for a list and get the information on Solon bank owned homes right here, compliments of The Schuman Team.

Right now, despite what some reports may indicate, the inventory of Solon bank owned homes is small. There are an additional 19 homes listed as short sales, however. Here is an up to date list, as of January 24, 2010, of streets in Solon where there are currently bank owned homes.

While many bank owned homes in Solon have sold over the last several years, banks are becoming more willing to negotiate up front so they can avoid the foreclosure process. Therefore, the number of Solon short sales is on the rise, and could be a more viable option for those buyers looking at Solon bank owned homes.

In fact, short sales may end up being even better than bank owned homes as they have not been sitting vacant for 1-2 years and the pricing can be just as good.

For a complete list of Solon bank owned homes and short sales, including full addresses and photos, if available, please contact us and we will be happy to email them to you. 

Click below to find other articles of interest pertaining to Solon:

Bank Owned Homes In Thornbury of Solon

Buying A Bank Owned Home in Solon, The Good, Bad, and Reality

Shopping in Solon

Solon Short Sales

Solon- A Great Community

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About The Authors:

Dan and Amy Schuman are Solon residents. They specialize in luxury homes, working with buyers relocating to Solon, and buyers looking to buy distressed properties in Solon.

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 *Please note that the Schuman Team, Amy and Dan Schuman, are licensed real estate agents in the State of Ohio but are NOT licensed to practice law. We want to be clear that while a real estate agent can assist with a buyer and seller during the real estate transaction, the process, especially buying a short sale or bank owned home can be more complicated than a traditional transaction. Therefore, we welcome consumers to seek the advice of a qualified real estate attorney prior to signing any legal documents.

Solon Bank Owned Homes is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan, 2010

This post is courtesy of a friend of mine, Gabrielle Rhind, an Associate Broker with Tierra Antigua Realty in Tucson Arizona.

How To Get A Great Deal When Buying A Home

Let's face it, everyone wants a deal when buying something, especially when it comes to a big ticket item like a home.  This post is for all the buyers out there that have been waiting for the right "deal" to come along, yet haven't been able to make a final buying decision. 

We must warn you though that we're not going to describe some crazy revolutionary 3 step program on how to buy a home on the cheap, like you may see some supposed "guru" do on late night tv.  However, we will give you some cold hard facts about the current market and a simple yet startling answer to this question at the end of this post ( yes, you must read this to get our answer ). 

To start, here are some things we know about the current real estate market:

1.     The entire real estate market is on sale right now. Based on reports from all the leading economists, the consensus is that the market has been depreciating and that many communities have seen home values go down to levels not seen in 5-10 years.  While we won't know until after the fact when the real estate bottom occurs, most markets are at or near the bottom, with some actually on the rise.

2. Mortgage rates are still at historic lows. With interest rates hovering at around 5%, money is cheap and buying a home has never been more in a buyer's favor.

3.     The Federal Tax Credit is in effect and will expire on June 30th. First-time buyers are eligible for up to $8000 and move up buyers can receive $6500 as well. In an unprecedented move,  the Federal government is actually paying people to buy homes, but you must be under contract by April 30th 2010 to qualify.

4.     Other items related to home buying are also being heavily discounted. When someone buys a home, a new car, furniture, electronics, and home improvements usually follow. As good fortune would have it, all of these things are "on sale" as well.

5.    The winter months bring great buying opportunities. Many homes currently listed have been on the market for a long time and sellers are anxious to sell soon before the spring, when the market will become flooded with new inventory, thus new competition.

So, with low home prices, low rates, motivated sellers, AND a large check from the government waiting for you, the answer to the question " How To Get A Great Deal When Buying A Home" is this:

BUY NOW!!!!!

Simple, understated, yet obvious. There has never been a better time to buy a home. So what are you waiting for? Don't let the best buying opportunity in generations pass you by.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans service both the East and West sides of Cleveland and have worked with numerous professional athletes, business owners, and executives who are relocating to Cleveland. They specialize in the Cleveland Ohio luxury home market and also enjoy working with first-time buyers as well.

If you are looking to buy or sell Cleveland real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW:

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

How To Get A Great Deal When Buying A Home is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan 2010 

This post is courtesy of Greg Nino, a top real estate agent servicing the Houston, TX area.