Cleveland Real Estate And More

Originally posted at Cleveland Real Estate Blog

Hey consumers, it's time for a semi-stern lecture on business etiquette.

I have encountered thousands of consumers over the last 20 years and have a good sense of how most of you operate. While many of you do have decent manners, a few of you could use a refresher course. Today, I wanted to share some things about those of us in sales so that we can all have a better understanding of each other.

Let's start with a typical scenario that I encounter on a regular basis: someone contacting me for help.

Dan, I am looking to buy/sell a home and noticed your website/blog. You seem to be very knowledgeable about the local market and I wanted to get your insight.

Initially, I'm pretty excited. Someone saw us on line and decided to contact us.  While a majority of these people have good intentions, and many do hire us, a few are looking for a free ride.  These folks have already committed to another agent and have no intention of hiring us, yet they are looking for specific market information or my advice. A few people that have contacted me in the past were actually in the middle of contract negotiations.

Now, do I think these people are malicious and looking to purposefully waste my time? No I do not.  I think they simply don't "get it".  Most of these these people have probably never been in sales and don't fully comprehend how things work in our world. They don't understand that I only get paid when I sell something. For all these people know, I work on salary so taking my time to help them is no big deal. In fact, I have had clients who originally thought I was on a salary until I explained my actual compensation to them. 

Some people may be thinking, "why not just be nice and help these folks and maybe they'll refer someone to you some day."  My response is that I am certainly cordial and often very friendly to these people, but I am not willing to give up my knowledge for free to someone who isn't a client. Not to sound cocky or arrogant, but I am very accurate when it comes to values and pricing. In fact, my wife has even been known to call me "Rainman" on occasion.  I am confident that we bring tremendous value to the table.

Please don't misunderstand me though. We are always appreciative of meeting new clients, just those who are genuinely considering working with us. In fact, once someone actually commits to us, we will run through walls to get them what they want. However, if you have no intention of ever hiring us, please don't call or email and expect to receive my advice, and more importantly, my comprehensive market knowledge.

Our philosophy is built on mutual respect for one another and one-way relationships simply don't fly.

If you liked this post, please subscribe to our blog. We always appreciate having new readers and more importantly, enjoy making new friends.

We'd also love to hear from you. Please comment below as and we promise to return the favor and comment on your blog as well.

Here are other articles of interest that you may enjoy:

Is Your Message Being Tuned Out?

Real Estate Agents Are Not Just Door Openers

Is Zillow Really Accurate? Take A Look For Yourself

The Dangers Of Selling Real Estate

How To Take A Picture Of Your Computer Screen

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About The Authors:

Dan and Amy Schuman service the Cleveland, Oh metropolitan area and specialize in Cleveland luxury homes and working with buyers relocating to Cleveland.

 LET'S CONNECT:

It's Ok To Hire Me, But I Won't Let You USE Me is the property of The Schuman Team and may not be duplicated or used without their written consent. ©March, 2011

Solon Ohio Monthly Market Report - February 2011

Here is our monthly market report for Solon Ohio real estate for February 2011. We will first list all the homes that sold in February and then give a brief commentary.

Month                    # of homes sold       Ave. Sales Price              

Feb.2011                 6                             $335,458               

Feb.2010                 12                           $236,083

*source NEOHREX ( Regional MLS )

COMMENTARY:

The number of homes that sold last month was considerably less than the number of homes that sold in February of 2010. However, the average sales price was significantly higher. The key thing to realize is that because of the first time home buyer tax credit, the number of sales during the first 4 months of 2010 were much higher than normal, but tapered off during the remainder of the year.

Last month saw a mix in terms of prices for home sales. Here is a map that shows the specific location of last months' sales.

 *Map Source NEOHREX

Moving forward, the winter months are typically the slowest, so there is not reason for alarm.  We are actually seeing a lot of activity in the luxury home market as affluent buyers are feeling more confident about buying. We anticipate the spring market to pick up after the middle of March.

Below Are Other Articles Of Interest Relating To Solon Ohio market reports:

Solon Ohio Home Value Report 2010 year in review

Solon Ohio Luxury Homes Year In Review 2010

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About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Solon Oh real estate and homes see  Solon OH Real Estate

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

 LET'S CONNECT:

Solon Ohio Monthly Market Report - February 2011 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©March, 2011

Is Zillow Really Accurate, Take A Look For Yourself

Over the past 5-7 years, the internet has become the main source to get information, especially when it comes to real estate. With so much data available, we think it is important for consumers to understand exactly what they are reading. 

Today, we are going to be looking at one of the most visited sites, Zillow.com. Zillow has quickly become known to consumers as a good place to go to check home values, and is a fine site. However, a problem that a lot of real estate agents have is that people seem to be putting too much weight on the numbers they see here, and are paying less attention to the more accurate figures they receive from us.  I couldn't tell you how many conversations I have had with a client that starts with them saying "you know, we were on Zillow, and it says our home is worth..."  

I guess I don't blame someone for wanting to believe some of the things they read on line, but we thought it was time to set the record straight.  Let's take a closer look at the information you are getting.

If you go to Zillow.com, there will be a link at the very bottom of the home page that takes you to a disclaimer regarding their values.  Here's what I'm referring to:

         estimate Values and Accuracy        Terms of Use      Privacy Policy

Go ahead and click on the link above. Here, you will be able to learn how Zillow comes up with their homes values and see that they do in fact have a margin for error in their figures. They even give specific information on major metropolitan areas, such as our city, Cleveland.

You can even get more detailed information regarding Zillow's figures if you are the kind of person that loves details.

The point we want to make is that visiting sites like Zillow are great, but the numbers you see should be used merely as a starting point for discussion purposes only. Nothing replaces the information you can get from a local real estate expert.  In fact, Zillow even recommends getting a market analysis from a real estate agent, it even says so right on their site.

We find that a little education goes a long way, and hopefully you found this helpful. Now, if you end up sitting down with us to buy or sell a home, you won't start the conversation with ..."you know, I was on Zillow the other day...."

The following are other articles of interest:

Real Estate Agents Are Not Just Door Openers - What A Buyers Agent Really Does

How Much Can I Get That Home For

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Solon luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Solon OH real estate and homes see Solon real estate

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

VIEW ALL SOLON OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Is Zillow Really Accurate, Take A Look For Yourself is the property of The Schuman Team and may not be duplicated or used without their written consent. ©September,2010

Disclaimer: The Schuman Team practices real estate in Ohio. Since many states have different laws and protocol regarding a real estate transaction, we recommend consulting a qualified local legal professional prior to entering into any written agreement. This blog contains observations and opinions related to our first hand experience working with buyers and sellers in Ohio, but should not be construed as legal advice.  Accuracy is not guaranteed.  

 Here is a breakdown of the Cleveland Ohio luxury home market based on statistics from the first half of 2009. All areas on the East side of Cleveland were included in the report. A thorough market summary will discuss the state of the Cleveland luxury home market.

SUMMARY

The Cleveland luxury home market is down in terms of total number of sales compared with the same period in 2008. Last year, there were 59 total sales in the first half of the year compared to only 25 this year. The most significant drop in terms of numbers can be seen in the $750,000-$1,500,000 price range.

Obviously, the economy has greatly affected the Northeast Ohio luxury real estate market. A luxury home is something that people want but don't necessary need, so today's luxury buyer is being very selective. Consequently, a buyer will not move forward with a home purchase unless they find their dream home at the right price.

The sobering news for luxury home sellers here in Cleveland is that the success rate of selling a luxury home is extremely low. Starting in the lower-end luxury price range, the success of selling is about 10% and significantly drops as the price range increases. Overall, someone looking to sell a luxury home in the Cleveland area has a FAILURE RATE OF BETWEEN 90-97%!

In addition, there are many sellers who would like to sell, but are on the sidelines, just waiting for the market to improve. These sellers have not officially put their homes on the market, but may be putting "feelers" out to agents letting them know they are willing to sell. This is not uncommon for luxury home sellers even in strong markets. Therefore, the actual number of homes for a buyer to choose from is much higher than indicated.

While it is difficult to sell in this market, there are things that luxury home sellers can do to help increase their chances of a successful sale.

A qualified luxury home real estate agent can assist with this process.

If you are looking to buy a luxury home in the Cleveland area, this may be the best opportunity you may ever see in your lifetime. As for sellers, being realistic on price and expectations is a good place to start if you really want to sell your home.

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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 worked with numerous professional athletes, business owners, and relocating executives and specialize in the Cleveland Ohio luxury home market.

Dan and Amy Schuman are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market.

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

SEE ALL CLEVELAND AREA LUXURY HOMES FOR SALE BY CLICKING BELOW

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Cleveland Ohio Luxury Homes - First Half Market Summary 2009  is the property of The Schuman Team and may not be duplicated or used without their written consent. ©July 2009  

Cleveland Real Estate: "How much did that house sell for?"--"Sorry, I Can't Tell You"

"I just saw that the home on ______ Drive just went under contract. How much did it sell for?"

As Cleveland real estate agents, we are asked this question all the time by our sellers, buyers, and others who are simply curious, and they sometimes don't like the answer that we give them.

When a home goes under contract, all information is confidential. Whether it is contingent or pending in status, ( for more detailed information about these statuses and others used by most MLS's, click here )  vital information, including the identity of the buyers and agreed upon purchase price, cannot be revealed to the public or even to other real estate agents who are not involved in the transaction.                 

There are a few parties who are privy to the details of a Cleveland real estate transaction. They are: the  listing agent, the buyer's agent and their respective brokers. All are bound to confidentiality and cannot reveal any information about the transaction. The buyer and seller of a real estate transaction have a right for the details of their transaction to remain private until the home officially transfers. At this time, the information then becomes public record.

People don't like it when they are told the information is confidential, and many actually get a little irritated, as if we are keeping information from them. However, there are legitimate reasons this information must be kept from the public at this point in the transaction. Mainly, it is to protect both the buyer and seller.

If the public found out the purchase price of a home prior to title transfer, it could open up a slew of problems for both the buyer and seller and create an unfair environment for all parties involved.

EXAMPLE: 

Let's say a home here in Solon, Ohio was listed for $500,000, and a buyer agreed to purchase the home for $465,000. Then, the transaction didn't move forward for some reason ( inspection issues, financing fell through due to buyer losing their job.....) and the seller had to put the home back on the market.

If word got out that the sellers had previously accepted $465,000 from another buyer, the seller would be at a huge disadvantage from a negotiation standpoint as they would be very limited on the price they could now expect to receive. If you were a buyer and knew this critical bit of information, would you offer more than $465,000? Of course not. How would you feel if you were the seller? A buyer could be hurt as well if confidential information got out about a transaction they were involved in.

So you see, there are legitimate reasons why certain information must remain private during a Cleveland real estate transaction. If you are a buyer or seller involved in a real estate transaction, it would also be in your best interests to keep details private until it becomes final. We know that buyers and sellers are tempted to share information with family, friends, relatives, and neighbors, but you would be better served by keeping certain things private, at least until title transfer. Please don't do anything that would jeopardize your transaction.

So the next time you ask a real estate agent how much a certain home sold for, and they say they cannot tell you yet, please don't get mad or think they are holding back information from you. They are merely following rules put in place to protect consumers like you.

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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 are experts in the Cleveland Ohio real estate market and specialize in luxury homes, home staging, and relocation.

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

SEE ALL CLEVELAND REAL ESTATE FOR SALE BY CLICKING BELOW

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Cleveland Real Estate: "How much did that house sell for?"--"Sorry, I Can't Tell You" is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

LUXURY HOME MARKETING REPORT JAN/FEB 2009 

The Solon Ohio luxury real estate market has been somewhat active during the first 60 days of 2009. Luxury homes in the Cleveland metropolitan area are defined as those selling for over $500,000. Thus far, 5 luxury homes have officially sold this year in Solon. This is equal to the number of homes that sold during the first 60 days of 2008 as well. However, there is a slight trend this year compared to 2008. Here is a comparison:

SUMMARY: Even though we are even with last years figures in terms of number of sales, the average sale price of a luxury home here in Solon is lower than at the same time last year. The reason for this is that 4 out of 5 of the sales have been either bank owned or short-sale properties.

At this point, there is no need to be alarmed as we are only two months into the year. Statistics can be somewhat skewed with such a small number of homes being used in this report. Since we are expecting 40-50 luxury home sales in Solon in 2009, the number of bank owned or distressed properties should be low enough that it won't have a great overall affect on end of the year statistics. The positive news is that luxury homes in Solon are selling.

Here is a list of all luxury homes sold so far this year in Solon: 

Note: These homes were all located in the popular luxury home subdivisions of Thornbury and Signature of Solon. For more information on these neighborhoods or on Solon bank owned homes, please click below:

Real Estate in Cleveland's Eastern Suburbs: Thornbury of Solon

Real Estate in Cleveland's Eastern Suburbs: Signature of Solon - Luxury Gated Golf Course Community

Real Estate in Cleveland's Eastern Suburbs: Solon Bank Owned Properties

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Solon luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Solon OH real estate and homes see Solon real estate

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

VIEW ALL SOLON OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Ohio Real Estate: Luxury Home Marketing Report Reb. 2009 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

MONTHLY REAL ESTATE MARKETING REPORT

The Bainbridge real estate market has gotten off to a slow start here in 2009 in terms of actually sales, but has picked up steam over the last 30 days or so.

Specifically, only 3 homes have officially sold in 2009 compared to 13 sales through the first 60 days of 2008.  This means that the fall of 2007 was much more active than the fall of 2008. A major factor for this significant drop in sales is the economy.

However, over the last 60 days, 9 homes have gone under contract. This is a good indication of current buyer activity. This is a sign that there are serious buyers in the Bainbridge. 

SUMMARY

Here is an unofficial list of all homes that recently went under contract, and a separate list of all homes that have SOLD so far this year in Bainbridge.

WHAT'S NEXT?

Right now, the inventory of homes is stale as very few new homes have come onto the market during the winter months. Buyers have been buying the lower priced bank owned homes. Overall, the serious buyers have seen everything in their price range and have not been overwhelmed enough by any of them to make a serious buying decision. These buyers typically have defined exactly what they want and are just waiting for the right home to come on the market. They are also watching to see if the price of a current listing decreases enough for the home to become more appealing.

The spring market is just around the corner and we anticipate a lot of homes coming onto the market in the next 60 days. Activity should really pick up from April -July as many buyers with school aged children will want to be settled into their new home for the start of the school year in August.

Check out Market Reports for other nearby suburbs:

Beachwood Market Reports

Pepper Pike Market Reports

Solon Market Reports

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If you are looking to buy or sell a home in Bainbridge, Beachwood, Moreland Hills, Orange, Pepper Pike, Solon or the surrounding Eastern suburbs, please contact us as we would be happy to show you why people love working with the Schuman Team.

Dan and Amy Schuman use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and our listings sold in less than 60 days. The Schuman Team specializes in luxury homes and are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. We also work extensively with buyers and sellers who are relocating in or out of the area.

To see all homes currently on the market in the Cleveland area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

All content is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

The Pepper Pike real estate market has gotten off to a decent start so far this year.

Specifically, 9 homes have officially sold in 2009 compared to only 5 sales through the first 60 days of 2008.  A good indication of buyer activity is best measured by the fact that 7 homes went under contact over the last 60 days. This is a sign that there are serious buyers in the Pepper Pike real estate market. 

SUMMARY

Here is an unofficial list of all homes that recently went under contract, and a separate list of all homes that have SOLD so far this year in Pepper Pike.

WHAT'S NEXT?

Right now, the inventory of homes is stale as very few new homes have come onto the market during the winter months. The serious buyers have seen everything in their price range and have not been overwhelmed enough by any of them to make a serious buying decision. These buyers typically have defined exactly what they want and are just waiting for the right home to come on the market. They are also watching to see if the price of a current listing decreases enough for the home to become more appealing.

The spring market is just around the corner and we anticipate a lot of homes coming onto the market in the next 60 days. Activity should really pick up from April -July as many buyers with school aged children will want to be settled into their new home for the start of the school year in August.

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If you are looking to buy or sell a home in Beachwood, Moreland Hills, Orange, Pepper Pike, Solon or the surrounding Eastern suburbs, please contact us as we would be happy to show you why people love working with the Schuman Team.

Dan and Amy Schuman use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and our listings sold in less than 60 days. The Schuman Team specializes in luxury homes and are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. We also work extensively with buyers and sellers who are relocating in or out of the area.

To see all homes currently on the market in the Cleveland area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

February was a relatively calm month in the Beachwood real estate market.

Specifically, 5 homes officially sold last month compared to 6 sales in February 2008. However, a real indication of buyer activity is better measured by the fact that 5 homes went under contact in February. While most of these homes haven't transferred, it is important to note that all of these homes went under contract over the last 30 days. This is a sign that there are serious buyers currently in the market to buy in Beachwood. 

SUMMARY

Here is an unofficial list of all homes that went under contract, and a separate list of all homes that SOLD in February 2009 here in Beachwood.

WHAT'S NEXT?

Right now, the inventory of homes is stale as very few new homes have come onto the market during the winter months. The serious buyers have seen everything in their price range and have not been overwhelmed enough by any of them to make a serious buying decision. These buyers typically have defined exactly what they want and are just waiting for the right home to come on the market. They are also watching to see if the price of a current listing decreases enough for the home to become more appealing.

The spring market is just around the corner and we anticipate a lot of homes coming onto the market in the next 60 days. Activity should really pick up from April -July as many buyers with school aged children will want to be settled into their new home for the start of the school year in August.

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If you are looking to buy or sell a home in Beachwood, Moreland Hills, Orange, Pepper Pike, Solon or the surrounding Eastern suburbs, please contact us as we would be happy to show you why people love working with the Schuman Team.

Dan and Amy Schuman use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and our listings sold in less than 60 days. The Schuman Team specializes in luxury homes and are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. We also work extensively with buyers and sellers who are relocating in or out of the area.

Dan Schuman is a proud member of the Beachwood Chamber of Commerce and serves on the Board of Directors.

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

February was a relatively calm month in terms of Solon real estate market activity.

Specifically, 10 homes officially sold last month compared with 17 sales in February 2008. However, a real indication of buyer activity is better measured by the fact that 13 homes went under contact in February. While most of these homes haven't transferred, it is important to note that all of these homes went under contract over the last 30 days. This is a sign that there are serious buyers currently in the market to buy in Solon. 

Summary: Here is an unofficial list of all homes that went under contract, and a separate list of all homes that SOLD in February 2009 here in Solon.

WHAT'S NEXT?

Right now, the inventory of homes is stale as very few new homes have come onto the market during the winter months. The serious buyers have seen everything in their price range and have not been overwhelmed enough by any of them to make a serious buying decision. These buyers typically have defined exactly what they want and are just waiting for the right home to come on the market. They are also watching to see if the price of a current listing decreases enough for the home to become more appealing.

The spring market is just around the corner and we anticipate a lot of homes coming onto the market in the next 60 days. Activity should really pick up from April -July as many buyers with school aged children will want to be settled into their new home for the start of the school year in August.

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Solon luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Solon OH real estate and homes see Solon real estate

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

VIEW ALL SOLON OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Ohio Real Estate - Monthly Marketing Report February 2009 the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009