Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

 

We have streamlined the process of buying or selling a home to make it easier for you! We have built a team of industry experts to make sure you have access to local home inspectors, contractors, interior designers, service providers, property managers, lending professionals, title and escrow companies, painters, gardeners, plumbers, electricians home warranty companies and more to provide you with the best service possible!

We are dedicated to providing the most up-to-date market data in the area. Our team is made up of caring, knowledgeable professionals that work tirelessly to help you with the home buying and selling process. 

In Search of the Perfect Property? Try our easy to use FAST property search

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you!

May 10, 2022

Approved for a Mortgage? Stop and read what not to do.

Approved for a Mortgage? Stop, Read what not to do.

 

After the exciting news, you have been approved for a home mortgage, its time to call your Realtor and began shopping for a home. You may also start planning to purchase furniture, or even a new car. Some people may also want to change jobs, careers or even quit their current job.  Stop before you lose your loan approval. Here are a few reasons why you should not make any large purchases or quit and change your employment status. 

1. Do not apply for any credit cards, loans, or lines of credit. 

Applying for any financial help requires a hard credit inquire. This type of inquiry will lower your credit score. Once you are approved for a loan, your credit score must remain in the qualifying numbers. A lower score can disqualify you, and your lender will decline your approval. 

2. Do not make any large purchases.

A large purchase can take cash away from what you need to cover your down payment and closing cost. 

3. Do not add more debt to your credit file

Increasing your debt is another reason to not apply for more credit via credit cards, etc...  Once you are approved for another car or credit card, your debt increases, and the amount you can borrow for a home decreases. 

 

Your Realtor, 

Autumn Marshall 

BHHS Lucien Realty

THE RELEVANT GROUP

216-294-5315

autumn@ohio-res.com

 

 

Posted in Market Updates
May 8, 2022

Can the FED cool the housing Market?

Can the FED cool the Housing Market?

The FED’s control on interest rates is only one lever in the housing market.  Low interest rates have contributed to the now "HOT" housing market, However other factors include, cost of materials to build, supply and demand, inflation, labor shortages, and unemployment stats. Some of these other factors have increased the cost of new construction homes, trickling down to a higher demand for re-sale homes.  Nationally we have a shortage of new home construction, and our supply is in a deficit of 5 years, creating more Buyers than Sellers (supply and demand). Increased interest rates have increased the average home payment by $550 over last year. The increase in what the Buyer can now afford will remove some people from the market, but most will shift to a new affordable price range.  With the news of the .5% increase in the FED rate, we have seen lay offs by many mortgage brokers. My impression is that this is due to the decrease of interest in the consumer refinancing their homes, more than the number of Buyers making a purchase. Yes the interest rate increase will “cool” the market, but that only means that we will only have 5 (five)offers on a house rather than 10 (ten).  It will still only go to 1(one) Buyer. We remain in a Seller’s market, and absent any major catastrophe, it will be a Seller’s market for sometime to come.

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

We have streamlined the process of buying or selling a home to make it easier for you! We have built a team of industry experts to make sure you have access to local home inspectors, contractors, interior designers, service providers, property managers, lending professionals, title and escrow companies, painters, gardeners, plumbers, electricians home warranty companies and more to provide you with the best service possible!

We are dedicated to providing the most up-to-date market data in the area. Our team is made up of caring, knowledgeable professionals that work tirelessly to help you with the home buying and selling process. 

In Search of the Perfect Property? Try our easy to use FAST property search

Curious about what’s happening in your neighborhood? You can create a custom market report to see what’s active, under contract, and sold in your neighborhood! 

Considering selling or refinancing your home? Get an INSTANT property valuation now!

Contact us today to find out how we can be of assistance to you!

Posted in Market Updates