Cleveland's Fall market update

Recently I read an article in the Plain Dealer encouraging people to sell their homes themselves. Save on the Real Estate commission. Now I can't blame anyone for trying to save money. But I've been a top producer in the Cleveland Real Estate market for over 26 years and I have to say this is one of the hardest markets I have endured.

The bottom line is that you have to be the prettiest face on the market at the best price to sell.

I sold my dream home in Bay Village last month and purchased a brand new home in Avon Lake with my Financee (which is turning out to be a better dream!). I have to say it was more painful selling in this market then in the past. In order to be the prettiest home in the price range I spent about $10,000 to spiff it up. I put new granite, sinks and faucets in the kitchen updated the appliances. I changed all the exterior light fixtures. Once all this was done the house sold and of course for far less than I wanted it to. All in all I took a big beating and loss on the house. I feel like I made up for that loss on the purchase so I'm not going sit around and cry about it.

The problem in this market is most people can't afford to do what I had to do to get my house sold. Most of the people on the market are in some sort of financial hardship that prevents them from doing the spiff up that they need to do. The buyer, if they consider the house will of course take tens of thousands off for these repairs if they consider them at all! If your home needs work you are competing with bank owned properties.

There is movement and things are selling, they just have to be priced right and appealing enough to make someone else want to live there. I have a few saying I find myself repeating over and over.

"If you can smell it you can't sell it"

"Nobody wants to buy someone elses dirt"

"You can't sell it if you don't show it"

My personal favorite when the seller doesn't want a sign out front.

":Okay you want me to sell it but not let anyone know you are on the market?"

The other important thing to remember is just because you need a certain amount of money out of the sale doesn't mean the buyer is going to give it to you. Get realistic.

As far as using a professional to sell your home, well all I can say is, not all professionals are alike there are some really good agents and there are some really bad agents. If you feel that you know enough to take the biggest asset you have and handle it fine, good luck, there are alot of shucksters out there. Most buyers don't really want to deal direct with the owner so you narrow your playing field in that respect. You also have limited marketing compared to the huge network our real estate industry has built. I know that my listings are on so many sites I can't keep track. I pay out money monthly to be everywhere so that your listing gets noticed. It is a team effort between you cleaning decluttering and showing off your home and me following up on leads and agents to get a dialog going.

I read an article that said it will take 89 years to get through all the bank owned properties that are in the pipeline. I believe that article might just be right. The banks are very difficult to deal with. They aren't cutting anyone a break and I am seeing them force people into hardships over small amounts of money that should be worked out instead. All I can say is, If you are going to sell in this market get ready to take a beating and if you want to do that alone (without an agent), uninformed, have at it. It is a frustrating process no matter what, having someone who knows the language of real estate in your corner seems like a smart move to me.

Mid Summer Market update

There are certain trends in decorating that are more in demand than others. This is what will make the difference in selling at a reasonable price, getting showings or not selling at all. For one thing Oak cabinets are out! You can dress them up with granite but most of the buyers out there in today's market only want to see Oak on the floors. Another huge decorating mistake is laminate floors. I would say 9 out of 10 people do not like laminate floors! Everyday I see more and more laminate floors. It is like putting counter-tops on your floors. The funny thing is the price for laminate is really not different in price from ceramic tile or hardwood!

Today I went through 290 listings for a buyer of mine. I was looking for the things they are looking for in a home. Their goal price is around $250k and they want what is considered current trends in decor. The old brick fireplace is out. Gold plumbing and door hardware is out. That old Williamsburg style wood framed fireplace mantel is out. Contemporary is in.

The photos that the Realtor put on the MLS are so important to the sale of the home. I will go out to a house and re shot photos over and over and update for each season. So many times I see toilet shots and fuzzy shots that do nothing to sell the home. The worst marketing attempt is no pictures at all!

Landscaping is really important to seal the deal. I showed a home that must of spent 50k on landscaping alone. It was magnificent to look at but it wasn't practical for most of the buyers for that home because it is in a development which attracts families with children. There wasn't a play space for kids because of the elaborate landscape. Also my buyer said if the kids were grown they would love this, but upon reflection realized the maintenance of it would be more work than they were willing to do. The point is don't overdo it, but do spend some money to create a nice environment. Patios,Koi ponds and decks are big. Old wood decks are not as desirable as the new deck product that doesn't rot. A pool and hot tub do not sell houses. Having a Pool will limit the the number of potential buyers for your home.

I have had people call me and ask if putting a slate or tin roof would be a good idea. My answer is always do it if you want it but don't expect to get your money back. These are quality items that actually over improve your home because a buyer will not pay more money for your home if you have this improvement. Heated driveways are also a great little extravagance but don't expect to get your money back. It only makes the home more desirable. As always it is kitchens and baths that sell. Keep the house clean of lots of clutter and overdecorating. My favorite saying is "If you can smell it you can't sell it"!

Cleveland Ohio Real Estate Update

This year is definately better than last year. I am seeing a lot of people purchase homes and owner finance them back to family,friends or employees. This is the best investment you can do right now. You can get interest on your investment and have something tangible like the title to the house as collateral. I think this is a great time to invest in some of these bank owned peoperties if you have the money.

I am still seeing people lose their homes. Some who have struggled to hang on are calling me to find out their options. The banks are just nasty to deal with. At this moment I have been waiting for a short sale bank negotiator to call me back. He has emailed me that he will call me before 1 pm today. I am doing everything to keep my phone line open so I don't miss his call. My seller is desperate and wants to get the bank to work with the offer that is on the table. I know the negotiator has about 400 other properties he is working with. We are just another phone call and number. I'm the one in the trenches feeling the emotions of the homeowner and the potential buyer.

I hear advertisements on the radio about Save your home but the Federal government is doing nothing about the shake down the banks are doing to the general public. The banks basically force you into selling your home. This is not The American Way!

Alot of these people could simply hold on if the banks would let them readjust their interest rate to a lower current rate. If you are in trouble you can't qualify for a refinance so what is the point. I've had people who lost their jobs and just needed to add maybe 4-6 months on the back of their loan and they would be able to stay in their home but the process is not n place to make this any easy solution.

I did finally get a call back from the negotiatior. It turns out the appraisal on the house is too high! Now if this was an outright pruchase the appriasial would be too low! So they are telling me I have to wait 3 more months to possibly get a new appraisal and maybe then I can get this house sold. In the mean time I will send in my own comparable sales and show the feedback on all the showings and maybe they will work something out. Unfortunately not with this buyer who just walked from the deal!!!

There are a lot of problems with these bank and mortgage systems. The best advise I can give you is try to work with a bank who services their own loans. That way if trouble happens you might be able to work something out. Right now the trap is wide and open and good people are falling in left and right.

Taxes they keep climbing!!

I don't understand it but today I checked all my current listings to see if I needed to update the taxes for the new tax bill. Sure enough every listing I have had the taxes go up! Now how does that happen when we have had a drop of values in our area as much as 22% in the last 5 years!

How do our real estate taxes keep going up when our values are down? Simple question. My taxes went up $900.00 this year. I was told The Board of Revision had finally lowered my house value but still my taxes went up.

Bay Village passed a school levy. When I did the math I figured I would break even between the lower tax value and the new levy but somehow I have to write a check or pay a higher mortgage.

Add this to lower income and a crushing recession and you have just put people who may have been just holding on, over the edge. What really pushes my buttons is the people on Capital Hill keep getting more benefits, more income,and more opportunities while we cut out more and more things out of our lives. I'm not just talking about not being able to shop at Saks anymore either!

I haven't gone to a doctor in two years because the last time cost me $800.00 and I have health insurance! I went to get my eyes examined and get a new perscription for glasses and it cost me $300.00. I just joined Kaiser and to my relief I get to go and get check ups without extra cost!But the lingering question is how come my taxes keep going up and now my city services are about to go down!

Where is all the money going? Does anyone in the government know how to really keep books and watch the bottom line.

Making progress with one city plot at a time

I made a new internet friend recently. I have been reading the work of Manfield Frazer. He is a writer who I see on Cool Cleveland.com. His articles about Human rights inspired me to contact him through email and tell him that I am a fan of his work.

We have been holding a long conversation for a few months now. He sent me his book that he wrote and I was very surprised to find out that he is a past convicted criminal.

I am reading his book and I have to admit that I can't read it for a long period of time because it sparks such passion in me. I get angry and want to do something to change the way things are.

This man Mansfield is articulate, smart and compassionate. He is a bear of a man and you can't help feeling comfortable around him as he has a warm welcoming charm or charmisa that he has sharpened over his 68 years.

Yesterday I went down to East 66th and Hough to see Mansfields vineyard. Yes, I said that right, vineyard in the middle of Hough!! I haven't ever been to the Hough neighborhood. All I remember about Hough was when I was six years old there were terrible riots and people got hurt and killed all protesting for equal rights. As a little girl the message that I had in my head was don't ever go there.

I was surprised to see so many new homes with beautiful landscapes. Here, Mansfield used to be a part of building homes in this area. He himself lives right across the street from the vineyard in a very nice newer home. I was not surprised to see all the vacant property and vacant buildings.

Mansfield is looking at the opportunity here. He worked with Cleveland Land bank to start his vineyard. He got the land from them and some seed money to get started. He also has the community involved. He is teaching kids in the area how to farm. He wants this movement to continue with his goal being a winery right across the street from the Cleveland Clinic and next to their new projected 10 million dollar hotel.

He wants this all to be a community centered enterprise. Giving the people in the area a chance to learn and work with in the development. He is looking for organic inner city farmers and has a few bio domes planned with the help of some philantrophic donations. All this will be a community based learning and work opportunity center. This is giving the people in his community hope and a postive direction with a fantasic goal.

This started with one little city plot. He calls it The Vineyards of Chateau Hough. Come on you have got to love this! He is looking for sponsors to donate $1000.00 to sponsor one of the 18 rows of grapevines. This money will go toward the funds to help pay the neighborhood kids that are farming it. He is also putting together teaching center on how to grow a vineyard. Yes it is a write off this is a bonafide charity! The sponsors will get a spot to advertise their company and will get all the publicity Mansfield can throw their way.

When I met Mansfield yesterday we stood on the corner of Hough and East 66th under his big umbrella in the rain and talked about what his goals are. I was so enthused I asked to be a part of it.

Good Bye Middle Class in America!

I have just had a really grounding experience. Recently I received a $25 gift card from a business that I do business with as a thank you. This business card was for (can I say the name) Saks Fifth Avenue.

It took me several weeks to get around to driving out to the East side of town to shop at the Premium shopping mall in Cleveland. It has been a really long time since I went to Beachwood. I have always loved to at least make it out there a few times a year in the past.

Since I have had a declining income since 2006 shopping at the higher end stores has been at the bottom of my list of choices. I was so surprised to see how busy this mall was. In the middle of a recession!

Well I went into Saks thinking well maybe I can find a nice sweater on sale and use my $25 dollars off and have something new and nice that maybe will give me a little lift.

Have you been shopping there lately!!! Everything was $300 to $500! When did this happen? I have a credit card there I used to shop there. I can't even afford a wallet! I will admit that there weren't a lot of people with bags of purchases!

Nothing has spoken to me in more valid terms than this. There are tons of people out there shopping here at these prices and I am not one of them! I know I have always been middle class. I know that once in a while I get to score a first class seat in a plane or be invited to a loge to view a game.
I am fine with this being not an everyday thing. I appreciate them more. But Hey! The divide has grown to such a big difference that I can't even imagine even flirting with the luxury lifestyle. You know pretending I'm one of them by shopping in one of those stores or staying a night in a fabulous hotel.

I don't know if this is all smoke and mirrors. But there are poeple making fortunes on the backs of the working class and no one is doing a damn thing about it.

I have read a lot about World War Two and the thing that absolutely blows my mind is while people were being taken from their homes and put in concentration camps other people were living just fine and in fact capitalizing on it. Turning a blind eye to their neighbors and friends because of one stupid reason (religion, status) or another.

What is different today? People are losing their homes left and right. If you don't have a good credit score and a job you can't get a job or a good one! You can't get help with your loan at least not the majority maybe 3% do.

Are we really thinking of electing Donald Trump to be President? OMG!!!I know my age group were teens in the seventies but come on have we all lost our minds? What happened to the America I knew that cared about its citzens no matter what their background. You know the melting pot!

What happened to the land of milk and honey and opportunity for eveyone!

Sorry about the rant! I guess I'll just shredd my Saks credit card and carry on!

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