Saturday, December 22, 2012

Why the Golden Rule is Killing Us

Remember in grade school, they always taught us the Golden Rule?  "Do unto others as you would have them do unto you".  I believe that's a stupid rule - why should I treat everyone the way I want to be treated? Shouldn't I treat people the way they want to be treated?  Does it not make more sense for me to spend time getting to know people and find out what they like?
My sixth grade teacher and principle Mr. Roberts taught us we should be better than that - we should follow what he called the "Platinum Rule".  Do unto others as THEY would have you do unto them".  I believe this rule is very valid in life as well as real estate.  It does require that you get to know the people you are speaking with - in short, it requires you to listen - something humans do not typically do very well.  I also believe this is a primary reason why agents lose out on listings and deals - they're not listening to their clients. 
Another Great teacher in my life Gene Boaz always said that God gave us 2 ears and 1 mouth for a reason.  He intended us to listen twice as much as we speak.  That's something that we often struggle with - especially those of us that like the sound of our own voice.  So before you go off on your next appointment - take some time to research more than just the house.  Take time to find out who the people are, what are their interests, how do they like to be treated.  And then wish them a Merry Christmas, or a Happy Hanukkah, or Happy Kwanzaa, or even a Happy Solstice.  You might find that you end up with more than just a client,  but a good friend, and that you have more in common that you thought. 
Photo:http://www.essex1.com/pages/paul/bible-golden-rule.html

Wednesday, October 10, 2012

The title track to your work

What is the title track to your life?  What would it sound like. Would you buy the album. I started writing this post quite some time ago, deleted it, started it again, then deleted it, then watched "High Fidelity".  Now I'm writing it again.  Honestly, that's pretty much the soundtrack to my life.  Starting it, deleting it, then trying to start it again.  Have you watched High Fidelity?  I highly recommend it!  It's a great life movie, one that resonates, it's about a life that is far from perfect, an individual that is not perfect, who knows he is far from perfect, and yet continues unthwarted to search for the meaning of his life and finds it in Laura - the love of his life - and music, the vehicle of his life. (The interpreter, if you will). [Portrait of Joe Mooney, Gaeton (Gate) Frega, and Andy Fitzgerald, Eddie Condon's, New York, N.Y., ca. June 1947] (LOC) I'm still working on the sound track of my life - it has several notes that don't match - but no bad cords.  Every note is exactly as it should be.  Every choice, is my choice and a defining moment in my life.  I wouldn't trade them for the world. So how would you define your life?  What soundtrack would you use to define it?  What would it sound like?

Monday, October 8, 2012

Zombie Houses - Being Reined In?

The number of foreclosure homes, often called REO's (for Real Estate Owned) properties - what I like to call a Zombie House, have declined over the past few months.  In fact, inventory overall has declined which has lead to buyers struggling to find the home they're looking for.
Nobody's home!














Zombie homes in the Cincinnati area have declined, as well as nation-wide.  This doesn't mean they're not still there - in fact, about 27% or our market right now is lender owned property.  But with significant less inventory overall on the market everything is down.  Just for a quick peak - here are 11 Lender owned homes in the Cincinnati area that are ready to sell  If you are looking for a fixer upper to pick up as an investment property, something to flip, or a home to call your own at a great price - there are some outstanding lending options out there to help you.

I'll talk more about some of those next time.

If you simply can't wait though - give me a call

Chris W.
513-382-2474

Tuesday, September 25, 2012

Can a Professional Photographer Sell my House?


Okay, so you're ready to put your home on the market, you have cleaned, painted, repaired, landscaped, staged and have your home looking downright perfect!  As you interview the prospective REALTORS® one states that they will have a photographer come out and photograph your home.  They tell you that visually, this is what is needed to really make your listing standout online.  You think to yourself, "self - that sounds hard to argue with" so you hire that agent and their brokerage and then....wait - and then... wait - and then...well, you get the idea.  You notice that your listing is online, but there are no photos - and since this is such a popular service, you have to wait for up to 14 days before the photographer can get to your home.  Meanwhile, in listing land, numerous buyers have passed up your listing, quite possibly never to return, because you have no photos.  When was the last time you bought a pair of boots online with no idea of what they looked like?  Right, me too.
Pro Nikon Photographer at Morro Rock 04 Dec 2007

So, how do you avoid this?  Simply, make sure your agent does not put your listing in until all photos are taken and approved by you, for one.  But there is more at work here that you need to be aware of.  Are these "Photographers" really photographers?  Or are they just someone that was hired to take photos?  In my experience with professional photographers - well, they're expensive.  They kind of need to be since one of those little cameras can cost upwards of $10,000 - not to mention the lenses, the lighting, the stands, the training, and the trade organizations.  Yes, that's right, just like REALTORS® Photographers have organizations that they belong to.  They are not required to belong to them, but much like Home Inspectors, I don't know that you would want to hire one that wasn't a member.  My point, make sure you know what you are getting.

There are, for example, the Professional Photographers of America, the American Society of Media Photographers, or more locally,the Professional Photographers of Ohio.   While membership to these organizations is not mandatory, it at least tells you that this photographer is serious - these things cost money after all.  Your first question when bringing this up should probably be to see the photographer's resume and go from there.  Also, question if they have liability insurance, and ask to see it.  If they're coming into your home, lugging equipment around, you want to know they have coverage before they knock over that gargoyle fountain your mother-in-law gave you as a wedding gift. *ahem*

Most importantly, and I can't stress this enough, do NOT put your listing in the MLS or online, without having images to go along with it!  No one will look at it, in fact they will say, "clearly something is wrong with that one.  There must be a reason the seller doesn't want to show anyone what the house looks like".  Trust me - that's what they're saying.  So while a professional photographer is great, do you really need one?  With camera technology today, most agents can take pretty good photos of your home and property.  Just make sure that they do and that they get them online when the listing goes active!  Otherwise, what are you selling?

Friday, September 21, 2012

Say Goodbye to Summer - and Hello Odd Real Estate Market

Let's start with a chart, shall we?  I keep hearing about prices in the area improving - why would that happen?


If we think about the laws of "Supply and Demand" we see that our supply of residential inventory is quite low and has been ALL year long.  Considerably low.  In fact, if we follow the same trends as the previous two years....we may not have any inventory at all! (That's not likely to happen).  What this does indicate is that prices will hold steady, and more sellers will be encouraged to step into the market.  This also indicates to me, that if you are a seller right now who is not on the market but wants to be...GET THERE!  Get your house looking perfect - price it right with a professional and you could spend much less time on the market.  A telling figure; August Days on Market are down comparatively nearly 15%.  Average Continuous Days on Market is sitting at about 154 for August.  Many areas will experience much less.

Need more proof that low inventory helps housing prices?  Take a peek below:


My guess is that when I post this again in October that our September numbers are going to be in the positive from the previous two years.  One thing is for certain - 2012 housing prices in the Cincinnati Area have stabilized this year.

Another promising sign:


The blue line in 2012 is when the first time home buyer tax credit went away, so buying slowed considerably after June.  This chart shows we're back on the right track moving more inventory.  A fact that should encourage home sellers, because as I showed up top - this is with not much inventory compared to the two previous years.  Think about that...Low inventory, but Selling more Units than previous years.  This could be a very good Fall indeed!

As always if you would like to see how your home compares to the charts above - where it fits in, give me a shout.  Or, go here: www.chrisjwood.com  and fill out the form.

Chris W.

Thursday, September 20, 2012

I couldn't possibly put a price on my home

I'm getting lots of calls about listings - which I love. And in this weird/odd/bizzaro market the longest conversations are about pricing. As it should be - beyond staging your home it's the one element that can most immediately dictate a sale. Price too high and you're hosed - price too low and you may feel like you left some money on the table...so how to price it...Just Right?

For Sale SignAs a seller, pricing has to be the single most difficult issue to deal with.  “How do I price my home”?  The simple answer would be, of course, to hire an agent, but I find that answer a bit flip.  The truth of the matter is that pricing a home is NOT an exact science.  Sure, some agents are better at it than others, but in reality, we simply review the data that is made available to us.  We look at the sold homes and the pending homes and attempt to identify a trend and then assign value to your home.  This may, in fact, not be what buyers are willing to pay for it.  Things like that change, and can change quickly.

So what do you do?  First of all, when talking to your agent, be realistic and be honest.  Be upfront with what you owe on the property and take a good look at the cost of selling your home.  Any good agent will work up an Estimated Net Sheet which will estimate how much money you will have in your pocket once the sale is complete.  In the end, it shouldn’t matter what you sold the house for - Did you end up with enough money in your pocket to do what you wanted to do?  If yes, then you were successful!  Conversations with your agent can determine if your home’s value is solid enough to compete in this market.  Most agents I know, are happy to provide you with this information at no cost or obligation.  I know I do!  This is at the heart of what I do as your real estate consultant.


Looking for a place to start your research on home values near you? Look no further

Chris W.
chris@chrisjwood.com

Monday, September 17, 2012

Is that a listing in your pocket...?

Pocket Listings are simply properties where a seller wants to sell, but is not ready for the active market yet.  There can be several reasons why a seller finds themselves in this position.  Perhaps they have quite a bit of work to complete on the house prior to listing it or maybe it's a timing thing where they want to wait until Spring to list it publicly.


Nasty
As real estate agents we often find ourselves privy to this inventory and we know that if a serious buyer can't find what they're looking for on the market, somewhere there is an agent that likely has this listing in their pocket.  Just think, as a seller, rather than spend time and money fixing up your house - you just sell it for an acceptable price without ever having to "actively" market it to every buyer and website out there!

Well, it happens - right here in river city.  As agents we have access to a website www.agentpocket.com where we can enter your property and market it to other real estate agents.  From there we can potentially help connect you with buyers who are frustrated looking at the same old inventory.

If you find yourself thinking about selling, but are not quite ready to jump into the active market - give me a call and we can discuss the values of a pocket listing.

Thursday, September 13, 2012

Buyer / Seller Home Tools

In today's online world there are tons of available options to help you find your home's "value" or as a buyer find a "good value".  Not all of them are all that local though and this can present quite a few unseen problems in the data that they give you.

Teacher's Desk
With the way our counties and school districts are sorted out in the Cincinnati area you need to have tools on hand that can help you sort through the clutter and get to the reality.  For example, many foreclosure related home search sites do NOT have up to date data.  In fact, their data can be many months old.  So that foreclosed home you are looking at and thinking of driving by could in fact have been sold several months ago.  They'll leave these homes on their site because they know they will attract potential buyers and traffic is what they're looking for - they do not have your best interests in mind.

Focus on local tools and real estate sites as they tend to be connected with the Multiple Listing Service of Greater Cincinnati  These sites are up to date because they are connected at the source.  Now, I suggest using a site like www.chrisjwood.com but I'm a bit partial obviously.  This site however, provides you with accurate listing data, including foreclosure properties, auction properties and short sales.  Plus, if you are looking to sell your home you can get some very helpful information on what is going on in your zip code.  An you can know that I am only an email away should you have any questions or concerns.

So check out the site - sign up for a Market Insider newsletter to get information delivered right to you inbox!

Thursday, August 30, 2012

Should I rent or should I buy?

Is now a better time to rent than to go out and purchase?  Take a moment to review this chart and decide for yourself.  To get some help making an informed decision give me a call and we can talk through it.


Thursday, August 16, 2012

Why is being preapproved such an important thing


Why is being preapproved such an important thing when I'm looking to buy a house?  I get asked that by potential buyers and I have actually several answers.

Fifth Third Bank BuildingFor Starters, sellers will NOT take you seriously if you are not at least pre-approved by a lender.  The market is an ever changing beast and we often find ourselves in situations where the inventory of available homes is small in comparison to the number of buyers looking to purchase.  (Supply & Demand)!  You end up with several buyers all looking to buy the same house and the buyer capable of paying the most money in that situation...wins.  Wouldn't it be great to know just how much you could afford to go in on a house like that...and come out the winner?

That brings me to the point even prior to finding that home.  Talking to a loan officer will help identify any potential credit issues you may have, and will allow you to lay out a plan to address those issue before you get out into the market.  Again, its all about your image and how sellers...and lenders see you.  Having that discussion with a loan officer ahead of your search can help put you in a stronger position when you find that dream house!

When looking to buy a house in Cincinnati, Ohio its important to find an agent that is local...you want to be able to get your hands on them should something happen in the process.  Trust me!  It's a complicated process with lots of moving parts...there are bound to be some bumps in the road.  Having a loan officer that you can sit across from and talk face-to-face can help overcome those bumps much more succinctly.  That helps keep everyone on board, and your closing on time!
Loan
If you are looking for some recommendations for loan officers in the Cincinnati area, I have a couple for you:

Ronda Segelke with Fifth Third Mortgage

and

Kathy Lamb with Union National Mortgage Company

Both are local, and outstanding.  Not all loan officers are created the same, you know.  Many loan officers are simply good at selling you the loan - these two know the process.  So if there is a problem with an underwriter, they understand the issue and can get right on it, because they know the Whole Process.  And trust me that is someone you want on your side!

Chris W.
chris@chrisjwood.com

Tuesday, July 24, 2012

Looking for area school information?

If you are looking for information on local schools?  FREE info here:

http://chriswood.viewcincinnatihomes.com/mischool/zip/45140/

The quality of a school can greatly influence home values in an area. On this page you'll find detailed information on school districts, school ratings, test scores by grade, student-teacher ratio, and much more.

Saturday, July 21, 2012

Homes for Sale in Cincinnati - Is NOW the time to list your home?

Looking to do some research on your own - no worries, Visit HERE for some free local info.

12 months of positive numbers!  How sweet it is!  Not everywhere is performing like a rock star, but many places are seeing sustained improvements in units sold as well as avg price.  Cincinnati as a whole is looking like a pretty sweet place to buy a house!

Let's start with a look at the Inventory:


The Red line being 2012 we can see that overall in Cincinnati, Inventory is quite low.  Many sellers continue to sit out the market in a "wait and see" position.  This creates a curious potential for having significantly low inventory amounts as we push out the end of the year.  If this trend continues, it great news for sellers - low inventory creates stronger pricing and the occasional bidding wars over properties...you remember those right?

Next a quick peek at Home Sales:

Here is where we start to see some real goodness - Don't you just love the way that red line continues in an upward fashion?  Now, as you can see 2010 that sudden drop into July.  This is due to that wonderful tax credit that came to an end - once finished, it closed out a quiet and depressing year.  I do expect our numbers to dip through July, and I believe there is a good chance that we may see a dip below 2011 numbers for sales.  It's bound to happen some time and we shouldn't panic - folks are settling in and getting ready for school to start - once the inventory bumps up we will watch that line rise again.

As for Average Prices:

Now here we're jumping quite nicely.  Not so good news for buyers - especially those who have been "waiting for the bottom".  That never works out well - as you can see by this chart, the bottom was in February of 2012 and we have continued up ever since.  I apply this mostly to the lack of inventory - supply and demand...simple stuff as long as you have a supply of what people are demanding.

So based on this information - if you have been thinking about selling your home in Cincinnati area - NOW is the time to get that puppy on the market!  Give me a call, email or text and I'll be happy to help you figure out what the market is willing to pay for your home.  But if you are looking to do some research on your own, check out this great resource.


Wednesday, July 18, 2012

Homes for Sale in Loveland, Ohio

A quick peek at homes for sale in Loveland Ohio shows us that things are starting to move along however, it also shows us that we will likely continue a trend of ups and downs.  Loveland Ohio is particularly interesting as it's median list price continues to be well above its median sales price.

We seem to be getting further apart as the summer goes on.  So what is driving this trend?  We have to go back to the old stand by of supply and demand.  An increasing number of homes coming on the market with decreasing number of buyers.  This translates into a 90.3% drop in sales posted from the previous month.  (Mind you - that number will adjust as we approach the end of July...but OUCH!)


Also, you can see that there are few distressed properties in Loveland.  This has helped sellers maintain their asking prices, however, buyers have continued to press those prices down, as the move from market area to market area.  Keep watching these numbers as we approach the end of summer and we will likely see that asking price fall dramatically.

Thursday, July 12, 2012

Looking for Open Houses This weekend?

Are you headed out to find open houses this weekend?  Are you armed? - I mean, with the proper tools of course.  Here - take a couple of tools of mine that you can use for FREE.

While you're our, go to starone.com on your mobile phone browser and you can use our web app.  Smart and intuitive it can help you locate open houses near you and provide you with some needed directions on how to get there.
It's very simple to use and can help you search for any home - not just the ones being held open.  The best part, is that there is nothing to install so it doesn't take up space on your phone and it interacts with your favorite mapping apps already on your phone.












For a quick tutorial on how to use this service - just watch the video below and see it in Action!


So good luck this weekend!  Don't go out unarmed or unprepared.  And if you have questions, please shoot me a text, email or give me a call!  I'm glad to help.

Chris W.

New Website with Better Search Features!

If you are looking for homes for sale in Cincinnati, Ohio I have a site for you!  I am currently in the process of launching a new website with far better search features and more timely information.  This new site will be directly tied to our local MLS so that when new listings come on the market, or current listings have changes or updates you can be notified immediately.

I will begin asking folks to register on my site - mainly this is to help me stay in touch with my clients.  And honestly, the information is so good I had to ask for something.  All you need to register is your name and email and you can start to receive listings emailed to you as they come on the market.

Because this site is tied with our MLS, I can also provide much more accurate information about neighborhood sales, trends and market information.

Go Ahead...Give it a try:


Thursday, July 5, 2012

Home Sales Continue to outperform in May


Locally we're having a not so bad year...overall.  These numbers we are going to look at represent the whole of the Cincinnati area market.  So overallwe're not doing so badly.  Locally, however, we continue to see small local communities struggling with real estate.  First of all a comment from the Cincinnati Area Board of Realtors:
"May marked the 11th consecutive month where local home sales improved over a year ago. May
sales of 1,901 units -- a 14.17% gain over the same month a year ago -- is the highest number of monthly
sales since June 2010.  Year-to-date sales (Jan. through May) are up 10.31% from a year ago."
That's big picture viewing right there and it's not a bad thing at all.  It shows that we are moving in the right direction, likely spurred on by extremely low interest rates and I expect those rates will hold more or less for a bit longer.
Looking at our stats for Cincinnati Home sales in May of 2012 we get this picture:
We continue to see those "+" signs that EVERYONE loves to see.  It's a slow and steady bout of positive...but we like the steady part!

I do loves me some charts!
So if you are thinking about putting your home on the market - NOW may be a good time to have a professional consultation in regards to how your local market is doing...and how your home would compare to what is currently for sale and sold. Give me a call for more information - I'm glad to help.

Wednesday, February 15, 2012

Owning a house is like having another part time job

As the title suggests, owning a house can be quite a bit of work.  Mind you, there are quite a few benefits to owning a home, but you have to remember to take care of it.  There are plenty of things that probably should be done by a professional - like cleaning and servicing your furnace and air conditioner - but there is quite a bit that you the owner can do.  And it's simple stuff that could save you hundreds of dollars.

Simple things like replacing the air filters on your furnace every month or so helps the furnace run more efficiently...you know, so your bill can stay a bit lower.  Failing to replace your air filters can result in your heater not adequately warming your home, causing it to continue to run...eventually causing something to break that could cost you several thousand dollars.  Ouch!  Especially when a filter only costs a few dollars.  Cleaning out your gutters, especially in fall, can help keep water from getting into your basement or your crawl space by allowing the gutters to do what they are designed to do.  Get the water AWAY from your foundation.

Do how do you keep track of all these things to do?  I suggest a spreadsheet - or at least a list.  Divide out the tasks by month and by year or season.  Then get them on your calendar.  Yes, I hear you, "Really, Chris?  You want me to create a spreadsheet?"  I know...which is why I provide one for you to use and customize to fit your home and your needs.

Home Maintenance Work Sheet

Spring is on the way people!  Give your house some love, and it will love you back with lower utility bills and longer lasting mechanics.

Tuesday, January 31, 2012

Renewal...

I meet with a great group of guys every two weeks at 6am - something we call Big Boy Bible Study, you know, just for the big boys!  BBBS for short.  Our latest conversation was about Renewal and implementing that in our lives.  We decided that Renewal is the rebuilding of something existing - so we were looking at the good things in our lives and building off of that.  So for the next two weeks I will focus on the challenge of being a better husband, father and friend and business practitioner.

One of these items that I'm working on from a business standpoint is getting back to blogging on a regular basis.  I've gotten away from it and you know, once that happens and you fall out of practice it's really hard to get back into it.  So I'll start with a short post and move on from there as I continue to write down all the topics I wish to ramble on about.  On a personal note, I have a goal of making my wife feel more appreciated and show her how much I Love Her.  Valentine's day is coming up and rather than wait until the week of, or the day before to buy flowers, I'm starting tomorrow and I'll continue with something every day.  I challenge you to do the same - as my good friend Bill said this morning, "Let's make it Valentine's Season and not just Valentine's Day".  Make the next 14 days, your BEST 14 days and then the best 14 days after that.

I look forward to hearing how you did!