Your new home is tastefully decorated and completely updated.  All appliances replaced since 2008. The furnace, central air conditioner, washer & dryer—all new since 2008.  This former model home features a loft overlooking vaulted cathedral great room with gas fireplace, master suite w/sitting room. This is a private end unit with wooded yard, brick patio, and deck.

Linked below are details and photos:

http://login.neohrex.com/Reports/ReportViewer.aspx?hidMLS=NEOH&emailReportRid=10672545&hidEntryPoint=ME
Do you know anyone who works for Eaton Corporation or Cleveland Clinic? Eaton Corporation is building their new headquarters in Beachwood and Cleveland Clinic is building a new hospital in Twinsburg. It’s a good time to buy in Twinsburg, because demand is sure to increase soon.

Contact us to see this condo today:      440-708-0561

Jim & Joan Norbuta, Realtor®
ACCREDITED BUYERS REPRESENTATIVE

RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®

Serving the Greater Cleveland communities of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.

This Special event features the crafts of many fine local artisans, a Homemade Baked Goods Sale, a RAFFLE,

and FREE ADMISSION.

See You at:

Bainbridge Town Hall

17826 Chillicothe Road (RT 306), behind the fire station

Friday, November 6, 2009                    Saturday, November 7, 2009

4:00 pm   to   8:00 pm                             9:00 am    to   4:00 pm

LIGHT LUNCH——RAFFLE——-FREE ADMISSION

———————————————————————————————————————-

REALTORS® are licensed professionals and real estate is what we do everyday.  REALTORS® subscribe to a stringent code of ethics and standards.  Most people buy and sell only a few homes in a lifetime.  Even if you’ve done it before, laws and regulations change (and vary by state);  that’s why having a professional REALTOR® on your side is critical.

Call us if we can help you with your home search or to assist you in finding a Buyers’ Agent.

Jim Norbuta, Realtor®
Accredited Buyers’ Representative (ABR) website:  http://www.findingclevelandhomes.com

RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®Serving the Greater Cleveland communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley. Call us for referrals to outstanding RE/MAX agents in other communities.YourClevelandRealtors.com website contains information on mortgage rates, lenders, and local community groups. Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients

RISMEDIA, October 26, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2% higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007. 

Lawrence Yun, NAR chief economist, said favorable conditions matched with a tax credit are boosting home sales. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” he said. “We are hopeful the tax credit will be extended and possibly expanded to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery.” 

Even with the improvement, Yun said the market is underperforming. “Despite spectacular gains in the stock market, principally from the financial sector recovery, most of the 75 million home owning families have more wealth tied to their homes. Home values could soon turn consistently positive and help the broad base of middle-class families, but we are not there yet,” he said. “We’re getting early indications of price stabilization, but we need a steady supply of qualified buyers to meaningfully bring inventories down and return us to a period of normal, steady price growth and to fully remove consumer fears, which would then revive the broader economy. Without a firm foundation for middle-class wealth recovery, the post-recession economic growth likely will be one of the weakest in U.S. history.” 

Early information from a large annual consumer study to be released November 13, the 2009 National Association of Realtors® Profile “Potential first-time buyers can take heart in that affordability conditions this year are the highest on record dating back to 1970, but with the first-time buyer tax credit scheduled to expire at the end of next month, people could hold back from entering the market,” of Home Buyers and Sellers, shows that first-time home buyers accounted for more than 45% of home sales during the past year. A separate practitioner survey shows that distressed homes accounted for 29% of transactions in September. 

NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said affordability conditions remain historically high. he said. “Our read is that housing overshot on the downside because homes are selling for less than replacement construction costs in much of the country, and the home price-to-income ratio has fallen below the historical average,” McMillan said. 

Total housing inventory at the end of September fell 7.5% to 3.63 million existing homes available for sale, which represents an 7.8-month supply at the current sales pace, down from an 9.3-month supply in August. Unsold inventory totals are 15.0% below a year ago. 

“The current housing supply is the lowest we’ve seen in two and a half years,” Yun said. “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year. 

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.06% in September from 5.19% in August; the rate was 6.04% in September 2008. The national median existing-home price for all housing types was $174,900 in September, which is 8.5% lower than September 2008. Distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area. 

Single-family home sales rose 9.4% to a seasonally adjusted annual rate of 4.89 million in September from a pace of 4.47 million in August, and are 7.7% above the 4.54 million-unit level in September 2008. The median existing single-family home price was $174,900 in September, which is 8.1% below a year ago. Existing condominium and co-op sales jumped 9.7% to a seasonally adjusted annual rate of 680,000 units in September from 620,000 in August, and are 9.7% above the 561,000-unit pace a year ago. The median existing condo price was $175,100 in September, down 11.7% from September 2008. 

Northeast
Regionally, existing-home sales in the Northeast increased 4.4% to an annual level of 950,000 in September, and are 11.8% higher than September 2008. The median price in the Northeast was $234,700, down 7.0% from a year ago. 

Midwest
Existing-home sales in the Midwest jumped 9.6% in September to a pace of 1.25 million and are 7.8% above a year ago. The median price in the Midwest was $147,600, which is 1.0% below September 2008. 

South
In the South, existing-home sales rose 9.0% to an annual level of 2.06 million in September and are 10.8% higher than September 2008. The median price in the South was $153,500, down 7.6% from a year ago. 

West
Existing-home sales in the West surged 13.0% to an annual rate of 1.30 million in September and are 5.7% above a year ago. The median price in the West was $219,000, which is 15.0% below September 2008. 
Read more: http://rismedia.com/2009-10-25/big-rebound-in-existing-home-sales-shows-first-time-buyer-momentum/#ixzz0VWFJxjbN

REALTORS® are licensed professionals and real estate is what they do everyday. REALTORS® subscribe to a stringent code of ethics and standards. Most people buy and sell only a few homes in a lifetime. Even if you’ve done it before, laws and regulations change (and vary by state); that’s why having a professional REALTOR® on your side is critical.

Call us if we can help you with your home search or to assist you in finding a Buyers’ Agent.

Jim Norbuta, Realtor®
Accredited Buyers’ Representative (ABR) website:http://www.findingclevelandhomes.com

RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®Serving the Greater Cleveland communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley. Call us for referrals to outstanding RE/MAX agents in other communities.YourClevelandRealtors.com website contains information on mortgage rates, lenders, and local community groups. Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients

We are pleased to share this information to you. We have been clients of Parkview Federal Savings and Richard Force for at least 10 years. We highly recommend his services.

Richard Force
Assistant Vice President
Bainbridge Savings
8500 Washington St.
Chagrin Falls, OH 44023
Phone: (440) 543-8889
Fax: (440) 543-8217
Email: Richard.Force@pvfsb.com

  The Following Rates are Effective for October 29, 2009

15 Year Fixed Rate Loan
Rate	Points	APR
4.375	0.000	4.459
4.875	No Cost*	4.916
A $165,000 mortgage loan at 4.375% will be paid in 180 monthly installments of $1,251.72.**

20 Year Fixed Rate Loan
Rate	Points	APR
4.875	0.000	4.942
5.500	No Cost*	5.534
A $165,000 mortgage loan at 4.875% will be paid in 240 monthly installments of $1,077.57.**

30 Year Fixed Rate Loan
Rate	Points	APR
5.000	0.000	5.050
5.500	No Cost*	5.525
A $165,000 mortgage loan at 5.000% will be paid in 360 monthly installments of $885.76.**

Home Equity Line of Credit
Tier	APR
$5000+	5.000
Home equity line of credit rates are based on the Prine Rate plus or minus a margin, the amount of the loan, credit score, and the APR that can range from 5.00% to 5.25%. Minimum rate is 5.00%, the Maximum rate is 24%.

LOT Loan
Rate	Points	APR
5.500	1.000	4.816
6.500	0.000	4.397

Fixed Rate Home Equity
Term	Rate	APR
60 mos	6.500	6.921
96 mos	6.750	7.025
144 mos	7.000	7.195
Home equity loan rates are fixed for the life of the loan. Based on a loan to value of 80%, a $25,000 loan at 7.000% is repaid in 144 monthly installments of $257.10

Turning your dreams into realityIn 1920, Park View Federal Savings Bank started out in one small office overlooking Cleveland’s Woodland Hills Park. Today, our branch network reaches across seven Northeastern Ohio counties. We have grown by being good at what we do. We are good at what we do because we stay focused on providing flexible, personalized banking solutions for our customers. The services and programs we offer are designed with this goal in mind.Your account with Park View Federal Savings Bank has a number; but we never forget that YOU have a name!
You know your account number; we know your name because personal service is our top priority.

As your needs grow and change over the years, you can count on Park View Federal to be flexible and ready to help.
Rates are subject to change without notice and require a checking account with Park View Federal or enrollment in our automatic payment program. Final loan approval is subject to the bank’s appraisals and underwriting standards. Property insurance is required.

Loans for owner-occupied homes only. Adjustable mortgage rates are subject to increase after consummation. Initial discounted rate reflects a reduction in the effective rate until the first adjustment (i.e., one year, three years, five years). Afterward, payment and APR may increase or decrease annually over the remaining 348 months. Maximum 2% rate decrease or increase per adjustment. Lifetime maximum annual contract rate 6% above the initial contact rate.

* $50,000 minimum loan amount

** Assumes a 20% down payment and a minimum credit score of 740 or higher.

Better service from a better bank

REALTORS® are licensed professionals and this is what they do everyday. REALTORS® subscribe to a stringent code of ethics and standards. Most people buy and sell only a few homes in a lifetime. Even if you’ve done it before, laws and regulations change (and vary by state); that’s why having a professional REALTOR® on your side is critical.

Call us if we can help you with your home search or to assist you in finding a Buyers’ Agent.

Jim Norbuta, Realtor®
Accredited Buyers’ Representative (ABR) website:http://www.findingclevelandhomes.com

RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®Serving the Greater Cleveland communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley. Call us for referrals to outstanding RE/MAX agents in other communities.YourClevelandRealtors.com website contains information on mortgage rates, lenders, and local community groups. Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients ]]> http://www.findingclevelandhomes.com/2009/10/29/local-mortgage-rates-for-greater-cleveland-october-292009/feed/ 0 http://www.findingclevelandhomes.com/2009/10/28/greater-cleveland-ohio-29-acres-of-prime-prime-real-estate-in-downtown-bainbridge-township-ohio/ http://www.findingclevelandhomes.com/2009/10/28/greater-cleveland-ohio-29-acres-of-prime-prime-real-estate-in-downtown-bainbridge-township-ohio/#comments Thu, 29 Oct 2009 00:04:58 +0000 Jim Norbuta http://www.yourclevelandrealtors.com/?p=899 GREAT DEMOGRAPHICS

29 Acres located in Downtown Bainbridge Township

Mailing address:   Chagrin Falls, Ohio 44023

Prime in town location, across from Town Hall and a Strip Shopping Center

See link for additional details:  http://login.neohrex.com/Reports/ReportViewer.aspx?hidMLS=NEOH&emailReportRid=4973208&hidEntryPoint=ME

CONTACT US SOON

Jim Norbuta, Realtor®
website: http://www.findingclevelandhomes.com

RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®Serving the Greater Cleveland communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley. Call us for referrals to outstanding RE/MAX agents in other communities.

YourClevelandRealtors.com website contains information on mortgage rates, lenders, and local community groups. Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients.

44202     Aurora      44202

INVENTORY REPORT FOR July 30, 2009

Price Range                  Active&Contingent     Pending& Sold        Current Inventory

$150,000 – $300,000                 99                             31                           19 months

$300,001 – $500,000                 64                           26                           15 months

$500,001 +                             39                             4                            58   months

….TOTALS……..                         202                           61

Total Homes for Sale                  202

Average Sales/Month                  10.2

Months of Inventory                   20

This is your tracking report for Aurora.  Yes, there are a lot of properties for sale, but things are improving.  Improvement has been seen in Chagrin Falls, Solon, Bainbridge, Auburn, Twinsburg, Aurora, and Russell.  If you need to know this information for your specific area, for developments like Laurel Springs, Barrington, and Canyon Lakes, give us a call.  The above numbers may be eye openers for many of you.  If you are currently selling your home, you may not be aware of recent changes.  Most importantly, ALL BUYERS AND SELLERS should be aware of them for your street, neighborhood, and community.  The numbers can change dramatically by location, even within your local community.

If you are looking to purchase a home in the next few months, please give us a call.  We are in our show all properties listed by any real estate broker and most for sale by owner homes.  Most importantly, our purchase analysis for buyers includes the street, neighborhood, and the local community facts.

If your interest is in homes priced above $500,000, the above chart indicates an inventory of 58 months.  If you are ready to negotiate, there are still excellent values available in every price range.

For families and individuals involved in a relocation transfer, you’re timing is excellent.  The Greater Cleveland Community has so much to offer and is one of the most affordable major metropolitan areas in the country.

YouClevelandRealtor.com website contains information on mortgage rates, lenders, and local community groups.  Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients.

Jim & Joan Norbuta

Realtor
RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Also, visit our post, Signs that the Market has Turned:  http://www.findingclevelandhomes.com/2009/07/14/signs-that-the-real-estate-market-has-turned%e2%80%a6/

(The following is specific to one area of Greater Cleveland.  If you are a home buyer or home seller, and especially if relocation is the reason for your move, this detail is extremely important to you.  Please do not make financial decisions without knowing the facts about your community. If you are buying or selling a home, this same type of analysis will be done for your community/neighborhood. )

44022     CHAGRIN FALLS      44023

INVENTORY REPORT FOR July 30, 2009

Price Range                  Active&Contingent     Pending& Sold        Current Inventory

$150,000 – $300,000         185                              90              12 months/last month 15

$300,001 – $500,000        178                              65               16 months/last month 20

$500,001 +                      178                             34             31 months/last month 51

….TOTALS……..                     541                            189

Total Homes for Sale                 541

Average Sales/Month                 31.5

Months of Inventory                 17

This past month reflects tremendous improvement in the sale of homes in CHAGRIN FALLS.  The same is likely to be true for Solon, Twinsburg, Aurora, and Russell.  If you need to know this information for your specific area,  for developments like Laurel Springs, Barrington, and Canyon Lakes, give us a call.  The above numbers may be eye openers for many of you.  If you are currently selling your home, you may not be aware of these recent changes.  Most importantly, ALL BUYERS AND SELLERS should be aware of them for your street, neighborhood, and community.  The numbers can change dramatically by location, even within your local community.

If you are looking to purchase a home in the next few months, please give us a call.  We are in our show all properties listed by any real estate broker and most for sale by owner homes.  Most importantly, our purchase analysis for buyers includes the street, neighborhood, and the local community facts.

If your interest is in homes priced above $500,000, the above chart indicates an inventory of 31 months, a dramatic improvement of 48 months  just 30 days ago.  If you are ready to negotiate, there are still excellent values available in every price range.

For families and individuals involved in a relocation transfer, you’re timing is excellant.  The Greater Cleveland Community has so much to offer and is one of the most affordable major metropolitan areas in the country.

YouClevelandRealtor.com website contains information on mortgage rates, lenders,and  local community groups.  Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients.

Jim & Joan Norbuta

Realtor
RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Also, visit our post, Signs that the Market has Turned:  http://www.findingclevelandhomes.com/2009/07/14/signs-that-the-real-estate-market-has-turned%e2%80%a6/

FIREWORKS

BAINBRIDGE TOWNSHIP INDEPENDENCE DAY CELEBRATION
July 5, 2009 – 6:30 PM
Festivities begin at 6:30 P.M. with Food and Entertainment. Fireworks begin at Dusk. RIVER ROAD PARK

JULY 4th CEREMONY

07/04/09            9:30AM – 10:30AM                

Look forward to seeing you this weekend.

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

In case you haven’t heard, a bill has been introduced in Congress to increase the stimulus for the residentail real estate market.  In it’s currrent form, the incentive is for all home buyers and does not have income limitations.  This means that everyone can benefit from this plan…even if you stay where you are.

Should this bill pass before Congress adjourns in August, will you be among the “movers and shakers?” 

Can you think of anything else that would create more jobs?

Your response is important to us….

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

(The following is specific to one area of Greater Cleveland.  If you are a home buyer or home seller, and especially if relocation is the reason for your move, this detail is extremely important to you.  Please do not make financial decisions without knowing the facts about your community)

44022     CHAGRIN FALLS      44023

INVENTORY REPORT FOR JUNE 30, 2009

Price Range                  Active&Contingent     Pending& Sold        Current Inventory

$150,000 – $300,000            167/17                     17/57                      15  months

$300,001 – $500,000            167/10                     12/40                      20 months      

                                                                                                                                                                                                                            $500,001 +                         182/7                       4/18                      51  months           

…………….TOTALS……..         516/34                     33/115                  22.3 months

                        Total Homes for Sale                 550

                        Average Sales/Month                24.6 

                        Months of Inventory                 22.3

                        Pure and simple, there are a lot of homes for sale in CHAGRIN FALLS.  The same is likely to be true for Solon, Twinsburg, Aurora, and Russell.  If you need to know for your specific area, even for developments like Laurel Springs, Barrington, and Canyon Lakes, give us a call.  The above numbers may be eye openers for many of you.  If you are currently selling your home, you are probably very well aware of them.  Most importantly, ALL BUYERS AND SELLERS should be aware of them for your street, neighborhood, and community.  The numbers can change dramatically by location, even within your local community.

If you are looking to purchase a home in the next few months, please give us a call.  We show all properties listed by any real estate broker and most for sale by owner homes.  Most importantly, our purchase analysis for buyers includes the street, neighborhood, and the local community facts.

If your interest is in homes priced above $500,000, the above chart indicates an inventory of 4 years.  If you are ready to negotiate, there are excellent values available in every price range.   

 For families and individuals involved in a relocation transfer, you’re timing couldn’t be any better.  The Greater Cleveland Community has so much to offer and is one of the most affordable major metropolitan areas in the country.

Our website contains information on mortgage rates, lenders, local community groups, details about us and our services, and helpful information for living or moving to the Chagrin Valley.   

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Fabulous Location! Less Than 3 Miles From Chagrin Falls Village. 3 Minutes To Hwy 422. Assisted Living Facility Licensed Up To 16 Residents. Original Home Built In 1850. Major Addition & Updates 1995-1998. Fully Furnished Handicap Mod-chair Glide, Alarms, Detectors. 3 Acres. Owner will consider Creative Financing.     $625,000

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Fabulous Condo! Well-maintained! One-floor Plan! Vaulted Ceilings, Wood Floors, Terrific Master Suite W/Jetted Tub, Lots Of Storage, All Appliances. Come See All The Special Features Of This Home.                    $199,000

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Incredible 29 Acres Located on route 306, less Than 1/4 Mi From Route 422. Utilities On Property or at the street. Public Sewer at the street.   Currently Doing Business As A Nursery.  Located only 35 minutes from downtown Cleveland and Cleveland Hopkins Airport.  Family Compound?  Business Opportunity?

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Wonderfully updated gracious southern colonial located just outside the Bainbridge Township Historic District. Car enthusiasts and hobbiests will appreciate the 6 CAR GARAGE. This 3 bedroom, 1.5 bath home is charming throughout with hardwood floors, crown molding, open kitchen and dining room. Updates include roof, gutters and garage doors in 2009, siding and total kitchen remodel, downstairs bath remodel, new well pump and interior paint in 2008. Hot water tank in 2006, wrap-around composite porch 2004 and chimney in 2002. Set back on 1.5 acres, this charming home is a must see!    $239,000

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

HGTV has brought together some of the top real estate experts to compile the definitive list of the biggest mistakes we all make when buying and selling our homes.

Do not buy a house based on its current decor.

25. Buying a House for Its Decor

Remember that you are buying the house, not the things inside it, so make sure you see beyond the decorations and look at the bones of the home. Focus on the floor plan and the square footage. You also might want to measure the dimensions and graph out how that’s going to work with your belongings.

24. Not Providing Easy Access for Showings

Make your house easily accessible to potential buyers. If there’s nowhere to park or it’s difficult to get into, buyers may just skip it and look at someone else’s property.

23. Not Researching the Neighborhood

It’s absolutely critical that you research the neighborhood before you buy. Check out the area, amenities and the school system to be sure that your address corresponds with the correct school district. Also attend a community meeting, if possible. You’re not just buying a house, you’re buying a piece of that real estate and the land around it.

22. Losing Money With Auctions

While the starting bidding price for a house on auction might be a good deal, it doesn’t mean the final price will be. Make sure that you are very strict with your budget when you are bidding; do not go over your final price because you got wrapped up in the excitement of a bidding war. Another thing to keep in mind is that when you buy a property at auction, you aren’t able to get any of the warrantees or guarantees, and you are not able to do a home inspection. Find out if the auctioneer is going to add those charges on top of the sale price as well as if there are any liens on the property. You could be responsible for paying the property taxes on that house you just bought, which could make what looks like a good deal into a really bad deal.

21. Trying to Make the “Hard Sell” While Showing

If you are selling your house, you really shouldn’t be around at the open house. You might want to try to sell the place on all the reasons you think the house is great, but that might not translate to the buyer. If you leave, you allow the buyers to give unbiased objective feedback to the agent, which is only going to help you in the end.

You don’t have to wait until the weather is nice to put your home on the market. That’s a common real estate myth.

20. Waiting Until Spring to Sell Your House

Spring is the busiest real estate activity period, but that does not mean that people don’t buy houses 365 days of the year. That doesn’t mean you can’t emphasize your home’s seasonal amenities.

19. Treating Real Estate Like the Stock Market

When the real estate market is really hot and is appreciating really fast, people tend to look at it like it’s the stock market. But playing real estate is nothing like the stock market; when you invest in real estate, you really need to take a long-term approach.

18. Failing to Market Your Home in Different Ways

Don’t market your home with just a “for sale” sign. Explore other marketing tools as well. Talk to your real estate agent about the marketing that he or she will do. It’s something that should be set up from the initial signing of a contract with an agent. Some homes have virtual tours and photographs online. If you choose to go that route, don’t forget to include the floor plans. That way, people can see the layout of your home and know if it’s right for them.

17. Not Thinking About Resale

When you are decorating and renovating your home, you need to think about what is going to appeal to a broad section of buyers when it comes time to sell it. Buying houses and being in the real estate market is like chess: You always want to look two or three steps ahead in the game.

16. Buying Without Actually Seeing the Property

It’s really easy to buy a house without seeing it because of the Internet and virtual tours, but virtual tours can be deceiving. Plus, it’s really hard to actually get a sense and feel of a home by only looking at it online. You need to actually walk through the place yourself. If that’s just not possible, hire an inspector to go look at the property and provide you with an assessment.

15. Trusting Everything a Real Estate Advertisement Says

Don’t assume every ad is fact. Learn to decipher real estate lingo. For example, “cozy” means small, and “as is” means it’s a fixer-upper. If there are a lot of exclamation points in an ad, it’s because there is so little to say about the place. Follow the old adage: If it sounds too good to be true, it probably is.

14. Picking the Wrong Agent

Treat meetings with agents like a job interview because that’s really how it works. Keep in mind that the person is going to be working for you. Talk to your friends who’ve sold houses and had good experiences with their particular agent, and go to open houses and observe how that agent interacts with other people. It’s also a good idea to meet with the agent in their office. It allows you to see how organized he or she is, what kind of environment they work in and whether that’s conducive to being able to do a good job for you.

13. Not Hiring an Agent

There’s a lot more to selling a house than just putting a sign on the front lawn. If you don’t have an agent, you will not get on the multiple-listing service (MLS). That means that other agents are not going to know that your property is for sale. Another thing to consider is if you are willing to show the house each time someone wants to come by and look at it. If you do plan to sell your house on your own, be sure to have a lawyer present at the closing. It’s really important to have someone on your side who understands all the complexities.

12. Buying the Most Expensive Home on the Block

The most expensive house will only depreciate in value over time, rather than appreciate, which is what you want. Also, those houses are often not the first house to sell because they are usually overbuilt to the neighborhood. It’s absolutely critical that you research the neighborhood before you buy to find out what the price point should be.

11. Not Setting a Realistic Budget

Just because the bank prequalifies you for a loan amount of $400,000 doesn’t mean you can afford to make that payment every month. Before hitting the streets for a house hunt, you should sit down and make a monthly budget of what you spend every month. Come up with a number that you are comfortable spending on your mortgage payment, aside from those other expenditures. An easy way to do this is to take a third of your gross income and have that figure be the number you spend on the house. It is also a good idea to have six to nine months of mortgage payments in the bank, plus a little extra if you have any repairs that you might need to do.

10. Visiting the House Only Once

It’s important to visit a house more than once because the neighborhood itself may be very different, depending on the day of the week and the time of day. It’s also a good idea to go home and think about it, even sleep on it, before you go back again.

9. Not Being Pro-Active at Closing

The best thing to do when going into a closing is to get all the paperwork ahead of time. All that information should come from a mortgage broker or banker. They have what they call a HUD (Housing and Urban Development) One form that lists all the charges, and you can legally get it in your hands 24 hours before closing. Schedule the closing for in the morning, so you have a fresh mind and plenty of time to go over everything and to ask questions. The final walk-through is another imperative part of the process. You may want to have a home inspector accompany you.

Don’t feel like you have to tackle major renovations before placing your home on the market. Touch-ups here and there, especially outside the home, typically do the trick.

8. Doing Major Renovations/Remodeling Before Selling

Minor upgrades usually have a higher return on your money than tackling major renovations before placing a home on the market. The main reason? Huge construction projects always cost more than you think they will, and they also take longer than you expect. The best place to spend money is outside. Research shows that increasing the curb appeal often returns the most value on your money. It’s what gets buyers inside the house.

7. Skipping the Loan Pre-Approval Step

When you are pre-approved, the bank is saying, “we will give you a mortgage of up to this amount, so now all you have to do is find your home.” Some sellers only allow real estate agents to show their house if someone has a pre-approved letter. That indicates that the shopper really is serious about buying a home.

6. Falling in Love With the First Property You See

Many homebuyers, particularly first-time homebuyers, fall into the trap of falling in love with the very first house that they see. You need to at least look at three more houses in the area to get an idea of what the comparables are in that price range. You want your real estate agent to show you homes comparable to what you saw. At the end of the day, re-evaluate.

Be sure to hire a home inspector to thoroughly check out a house you are interested in purchasing.

5. Buying a Home Without a Professional Inspection

There are a lot of things a home inspection can reveal about a property that are not visible to the naked eye. Be sure to hire someone who comes with a good referral basis, who’s been in the business a while and knows what to look for. Look up the American Society of Home Inspectors and get a list of qualified home inspectors in your area. Once you find an inspector, insist that they compile a written report, complete with photos. Photographs are important because there are areas a home inspector will go that you might not look at.

4. Overlooking the Extra and Hidden Costs

Buying a home is not just about the money that you spend upfront; it’s about all the rest of the money you have to spend beyond that. Find out what the property taxes are, what your water bill might be and what a standard electric bill is in that home, especially if you have electric heat instead of gas heat. You also need to factor in furnishings you may need to purchase before you can move in.

3. Buying What You Want, Not What You Need

Look at the space that you are already living in. It will help you to realize what you have been missing and what you need in your next home. Make a list of those needs and then ask your agent to start shopping based on those needs. On average, Americans live in a house for about nine years. Remember, you can always trade up a few times before you find the ultimate home.

2. Setting Too High of a Sale Price

As a seller, it’s really important to do your research. To come up with your sale price, look up what comparable homes in your neighborhood have sold for. Figure out what the going price is and try to put yours right in the middle of that, unless you have something extra-special to offer. It’s always better to price a home that way than to start too high and have to reduce. Once you reduce, it always looks like something is wrong with the home.

1. Failing to Showcase Your Home and Making Small Cosmetic Changes

When you are selling your house, you have to really look at it objectively and think about it from the viewpoint of the house hunter. Make minor enhancements to the house and maybe hire a professional stager to come and arrange your furniture. Staging is about decorating your house for the buyers’ taste, not yours. A great place to start is with the front of the home and the main entryway. Home staging is designed to increase the potential selling price and reduce the amount of time the house stays on the market.

This is a very good article that we think you will find helpful.  In our opinion, here’s one that they missed:

When shopping for a mortgage, be sure that you understand your total cost, not just your interest rate… and you don’t want any surprises 6 hours before closing.  Ask a lender for a HUD-1 statement so that you understand the total cost of your loan.

Can you think of another that HGTV missed ?      We hope that you’ll share it with us.

Many Blessings,

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Today’s Cleveland Plain Dealer reports that home sales for May 2009 are generally lower than for May 2008, with Cuyahoga, Lorain, and Lake Counties showing a 7 to 9 % drop for the year to year comparison.  The State of Ohio is showing an 18% decline.

Geauga County is the exception, posting a 15% increase over May 2008.  Jonathan Hall, President of the Ohio Association of Realtors stated:  ”With favorable pricing, attractive interest rates and sellers more realistic in their expectations, the market is poised for a rebound due to the ideal conditions that exist.”

Reports for Portage County-Aurora and Summit County-Twinsburg are inconclusive due to the merger of the data services of the two multiple listing services.  These figures do include the Chagrin Valley areas of Chagrin Falls,  Solon, Bainbridge Township, Auburn, South Russell, and Chesterland.

Contact us if you have any questions.

Jim & Joan Norbuta

Realtors

REMAX Traditions

Are you ready for this….it’s a possibility that we will see a $15,000 tax credit for ALL home buyers.  As reported in USA Today, there are many potential changes to the housing bill that currently gives first time buyers an $8,000 tax credit, depending on their income.

The proposed bill would change the amount of the credit to $15,000, eliminate the income restrictions, and give access to ALL HOME BUYERS. 

Along with the terrific interest rates that are still available, this would certainly give a boost to home sellers.  We do business on the southeast side of Greater Cleveland (Chagrin Valley), focusing on Solon, Chagrin Falls, Bainbridge Township, Twinsburg, Aurora, and Chesterland.  If you are relocating, check out the relocation section of our website.  We can also refer you to outstanding REMAX realtors in any part of Greater Cleveland.

Contact us if you have any questions.

This week’s Consumer Price Index (CPI) and Producer Price Index (PPI) data indicated that inflation is not a concern in the short-term. A significant decline in energy prices from one year ago resulted in a very low overall annual inflation rate. Even Core CPI, which excludes food and energy, rose at a tame 1.8% annual rate. However, the benefits from the favorable inflation news was offset by stronger than expected economic growth data. In particular, the Philadelphia Fed manufacturing index showed surprising improvement. In addition, May Housing Starts rose 17% from April, while Building Permits, a leading indicator of future activity, also exceeded expectations. This week’s data sets the stage for next week’s Fed meeting. With inflation currently low but at risk of increasing if the economy continues to improve, the Fed may be reluctant to introduce more stimulus, opting instead to wait and see how the economy performs.

President Obama this week proposed broad new rules for regulating the financial system. One proposal under the Obama plan would create a consumer protection agency which would have the authority to set rules for the mortgage industry. The details may not be known for quite a while, as the plan now faces a lengthy debate in Congress.

Also Notable:

• The -1.3% decline in CPI from one year earlier was the largest annual decline since 1950
• Continuing Jobless Claims fell for the first time in twenty weeks
• The Fed’s Bullard predicted that the economy will begin to improve during the third quarter
• The Fed purchased $20 billion in agency MBS during the week ending 6/17

Weekly Mortgage Update Courtesy Of:

Darrin L. Kresevic, Sr. V.P., Loan Officer, LPO Manager

First Place Bank          440 349 7550

6150 Enterprise Parkway – Solon Ohio 44139

Assistant – Janice Zabish Direct – 440 349 7562

Lending seventeen years of Mortgage Banking experience

To reach Darrin and many other outstanding business people in our community,

please look at our website:          business and services section

(The following is specific to one area of Greater Cleveland.  If you are a home buyer or home seller, this detail is extremely important to you.  Please do not make financial decisions without knowing the facts about your community)

44022 CHAGRIN FALLS 44023

INVENTORY REPORT FOR JUNE 12, 2009

Price Range                  Active&Contingent     Pending& Sold        Current Inventory

$150,000 – $300,000            163/13                     17/53                      15  months

$300,001 – $500,000          163/10                    14/40                     19 months      

                                                                                                                                                                                                                            $500,001 +                            179/6                       10/13                      48  months           

…………….TOTALS……..         505/29             41/106               21.8months

                        Total Homes for Sale                 534

                        Average Sales/Month                24.5 

                        Months of Inventory                   21.8

                        Pure and simple, there are a lot of homes for sale in CHAGRIN FALLS.  The same is likely to be true for Solon, Twinsburg, Aurora, and Russell.  If you need to know for your specific area, even for developments like Laurel Springs, Barrington, and Canyon Lakes, give us a call.  The above numbers may be eye openers for many of you.  If you are currently selling your home, you are probably very well aware of them.  Most importantly, ALL BUYERS AND SELLERS should be aware of them for your street, neighborhood, and community.  The numbers can change dramatically by location, even within your local community.

If you are looking to purchase a home in the next few months, please give us a call.  We show all properties listed by any real estate broker and most for sale by owner homes.  Most importantly, our purchase analysis for buyers includes the street, neighborhood, and the local community facts.

If your interest is in homes priced above $500,000, the above chart indicates an inventory of 4 years.  If you are ready to negotiate, there are excellent values available in every price range.   

 For families and individuals involved in a relocation transfer, you’re timing couldn’t be any better.  The Greater Cleveland Community has so much to offer and is one of the most affordable major metropolitan areas in the country.

Our website contains information on mortgage rates, lenders, local community groups, details about us and our services, and helpful information for living or moving to the Chagrin Valley.                          

• the recent economic data has shown some small signs of improvement
• concern about inflation due to the substantial amount of debt the U.S government has issued / continues to issue
• and lastly, the big concern which is not heavily publicized….foreign investment or the lack there of.

Did you realize that foreign investors, namely China and Japan purchase up to 40% of our debt (U.S. Treasuries). One of the major fears the past few weeks is that foreign investors stop buying our debt. As of yesterday we are starting to see some stabilization in the interest rate market which is helping rates ease back down. Current 30 year rates are averaging 5.625% and 15 year 5.125%. I am willing to go out on a limb and say we should see an additional .50% improvement in the coming weeks/months.

For my readers who are realtors you may want to check with the lenders on your deals to confirm the rate lock. If closing dates are missed (which I have heard some buzz it is happening more often) it is possible locks will expire AND rates will be adjusted up to current levels. Don’t get me wrong, current levels are still historically outstanding just not the 4.50 – 4.875% that many may have locked into.

Week Ahead

The most significant economic data next week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of “intermediate” goods used by companies to produce finished products and will come out on Tuesday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Wednesday. CPI looks at the price change for those finished goods which are sold to consumers. In addition, Industrial Production and Housing Starts will be released on Tuesday. The Empire State and Philadelphia Fed regional manufacturing indexes will round out the schedule.

Weekly Mortgage Update Courtesy Of: 

Darrin L. Kresevic, Sr. V.P., Loan Officer, LPO Manager

 First Place Bank          440 349 7550       

6150 Enterprise Parkway – Solon Ohio 44139

Assistant – Janice Zabish Direct – 440 349 7562

 Lending seventeen years of Mortgage Banking experience

To reach Darrin and many other outstanding business people in our community,

please look at our website:          business and services section

To see the complete schedule, click HERE.

Looking forward to seeing you there!

If you are beginning a home search, this is a wonderfully exciting time in your life.  Do you want or need someone to sell you a home? Most people definitely do not.  Assisting you in finding your dream home is our goal.  Helping you through the process is what we are here to do.

If you’re relocating to Greater Cleveland, you should find comfort in the fact that we’ve relocated three times for former Corporate Employers.  Accommodating your needs and schedule are easily understood and routinely handled.  Do you want someone to show you homes, or are you interested in finding out about the local communities and school districts first? That’s your choice.  Just so you know that we are qualified to do both in a professional and courteous manner at all times…and there are many things on our website to assist you.

Your home search is priority one! As we said, your happiness and success in buying or selling a home is our reason for being here.  If your geographic interest is better served by another Realtor®, we will recommend an outstanding agent to you.  We often refer clients, especially in Medina and Lake Counties.

Thanks for visiting our website.  Our efforts will be focused on being a BLESSING in your life.