Sue Gabriel ~ REALTOR® ~ North Olmsted, OH

North Olmsted, OH Housing Market Activity ~ week ending 6/5/09

Hello everyone!

Welcome to North Olmsted, Ohio! We're one of the largest suburbs of Cleveland, and I happen to think one of the most diverse and convenient! Convenient to 2 major highways, the Ohio Turnpike, Cleveland-Hopkins Airport, a major shopping mall, and 20 minutes to downtown. Being born & raised a Clevelander, I made North Olmsted my home in 1994 ~ and I'm thrilled I did!

Almost every single time I go to the grocery store, or the library, or the high school to help in the bookstore, someone asks, "So how's real estate? Are houses actually selling here??"

I'm here to say, "Yes, they are!" and have decided to post the North Olmsted activity each week.

So here you go, for 5/29/09 to 6/5/09: (corrected 6/16/09)

So please take what the media reports with a grain of salt, and if you're thinking of buying or selling...especially in North Olmsted...talk first with a real estate professional. We're the ones out there tracking the data. It's our job, and I can't speak for everyone else, but I love it!!

Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It's critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.

2. Remember, there's no "right" time to buy, just as there's no perfect time to sell. If you find a home now, don't try to second-guess interest rates or the housing market by waiting longer - you risk losing out on the home of your dreams. The housing market usually doesn't change fast enough to make that much difference in price, and a good home won't stay on the market long.

3. Don't ask for too many opinions. It's natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family - the people who will be living in the home.

4. Accept that no house is ever perfect. If it's in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don't try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to "win" by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn't exist in a vacuum. Don't get so caught up in the physical aspects of the house itself - room size, kitchen, etc. - that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don't wait until you've found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don't leave yourself short and let your home deteriorate.

9. Accept that a little buyer's remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits! Don't lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home's most important role is to serve as a comfortable, safe place to live.

Hope this helps!!

As many of you may know, our beloved Cleveland Cavaliers ("The Cavs") are in the NBA playoffs! They'll play game 3 against the Orlando Magic tonight at 8:30EST. Our city is so pumped up about this team, their coach of the year Mike Brown, and MVP LeBron James!

LeBron goes by several nicknames: LBJ, The Chosen one, and King James.

WELL...when the result of my case of mistaken-identity was listing an adorable condo on King James Parkway, I thought to myself, "Hmmmm...might this be a sign??" The condo has been on the market for the past several years with different realtors, and I honestly don't know why it hasn't sold! But now it's my turn, and I am determined to bring a fabulous offer to my seller (who is also fast becoming a wonderful friend)!

She and I both believe in signs, and if an NBA Championship, brought to us by "King James" and his court brings more attention to our condo's location - we'll take it!

So........GO CAVS!!!!

P.S. Check out our website: www.2021KingJames206.com

First-time Home Buyers - $8,000 Tax Credit for Down Payment!!

This was just announced today - and it's HUGE!!!

Daily Real Estate News | May 12, 2009 |

Tax Credit Can Be Used for Down Payment

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

"We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA's approved lenders will be permitted to "monetize" the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

So c'mon folks!! Let's go find you a house!!!

That case of mistaken identity I wrote about recently? Well, I thought I'd post a follow-up. I did get the listing (it's on tour today!!), and they are wonderful folks! They're really counting on me to help them, and I'd love nothing more than to bring them a great offer!

When we met, it was like we'd known each other forever! And they're convinced I'm their good luck charm. Interestingly enough, because of how I came into their lives...and my name!

I jokingly said, "No pressure there!!"

My seller has been given some bad (and some good) advice from past realtors, and was at the end of her rope. My gosh, what she really wanted, besides a sale of course, was communication! And enthusiasm! Heck, I can give her both of those things...but I most want to give her closure and the ability to move on to the next phase of her life.

We both think we met for a reason; the circumstances were just too darn "do-do-do-do...do-do-do-do!"

So if anyone has a buyer for an adorable, clean, cheery, 2 bedroom 2 full-bath condo in a wonderful western suburb of Cleveland, close to public transportation, shopping and highways...let me know!

Sue Gabriel, REALTOR®

RE/MAX Pros

Direct: (440) 925-2008

www.soldbysuegabriel.com