“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
HomeOhioLucas County

About Lucas County, OH

Blog_tag

Finally Some Snow for Cappy Callahan the Goldendoodle

02-12-12
Dee Nofziger
Dee Nofziger: Real Estate Agent in Toledo, OH
  • view my blog
  • Mobile: (419) 260-1435
Finally Some Snow for Cappy Callahan the Goldendoodle. Having brought Cappy Callahan the Goldendoodle home last May, he had yet to enjoy the fun of a NW Ohio snowstorm. Finally Mother Nature took pity on him and gave him his wish - a romp in the snow. As a real estate professional (R Squared Coach) I hear from agents all the time how the weather can interfere with their day. Appointments cancelled, cold toes in vacant properties (it's usually colder INSIDE a vacant property than OUTSIDE!), unshovelled drives and sidewalks, plus a variety of other headaches. It's nice to be able to dwell on the positive and be grateful for some white stuff for once. Take a look at Cappy having some fun ...

3 Comments
Blog_tag

Maumee, OH--Property Ownership

02-03-12
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor: Real Estate Agent in Toledo, OH
  • view my blog
  • Office: (419) 720-5600 x320
  • Mobile: (419) 481-3117
Maumee, OH--Property Ownership

This chart shows home occupancy within an area.

A high percentage of ownership can indicate an area where people like to live and stable property prices. While a high percentage of rentals could indicate an area with shifting demographics, a younger community, or possibly a downtown area.

High vacancy rates can indicate that the market is unhealthy and that it could be tough to sell a home in this area.

Chart Temporarily Unavailable
0 Comments
Blog_tag

Maumee, Ohio--Market Inventory Trends

02-03-12
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor: Real Estate Agent in Toledo, OH
  • view my blog
  • Office: (419) 720-5600 x320
  • Mobile: (419) 481-3117
Maumee, Ohio--Market Inventory Trends

Review the inventory and health of the market by looking at the number of sold and listed properties.

To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer's market. If inventory is shrinking, then it could be a seller's market.

Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer's market.

  • Sold: Properties sold that month
  • New: Listings that are new on the market
  • Distressed: Listings that are short sales, bank owned, or up for auction.
  • Standard: Non-distressed listings
Chart Temporarily Unavailable
0 Comments
Blog_tag

Maumee, Ohio--Median Listing Price vs. Median Sold Price

02-03-12
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor: Real Estate Agent in Toledo, OH
  • view my blog
  • Office: (419) 720-5600 x320
  • Mobile: (419) 481-3117
Price Trends - Sold vs. Listed

Understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay).

By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.

Some sales are not immediately available from public records. As they become available, the data are updated.

Market Inventory TrendsChart Temporarily Unavailable

Review the inventory and health of the market by looking at the number of sold and listed properties.

To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer's market. If inventory is shrinking, then it could be a seller's market.

0 Comments
Blog_tag

The Negative Side of Buying Short Sales

01-30-12
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor
LINDA SABO--RE/MAX Preferred Assoc. Linda Sabo--23 Years--Full Time Realtor: Real Estate Agent in Toledo, OH
  • view my blog
  • Office: (419) 720-5600 x320
  • Mobile: (419) 481-3117

Buying short sales might seem like a good deal for the buyer, but that's not always the case. Here are three major conflicts buyers and sellers face when a short sale, pre-foreclosed home is on the market:

  • Time: Don't let the name fool you. Buying short sales takes a very long time. There's a whole gambit of scenarios of why a short sale might be delayed, but many of the hurdles buyers have to overcome have to deal with secondary financing on the homeowner's original mortgage, bank processing delays and private mortgage insurance policy breakdowns. Buying short sales is a very complex process, which can leave the short sell buyer in housing limbo for up to six months.
  • Condition: Short sale homes often need additional maintenance and repairs. When the current property owner is unable to pay the mortgage on the home, more often than not the condition of the property diminishes over time. Additionally, short sale homebuyers should take into account that the property will have had more than one previous owner, which adds to the wear and tear.
  • Lender Restrictions: Banks can renegotiate a short sale at the last second. If a new law passes, the market begins to change or the bank finds out more information about the property, they reserve the right to change the terms of the contract at any point in the process. Banks will also refuse to pay for extra services like seller closing costs or inspections. If you want something specific inspected on the property, you're probably going to pay for it yourself.

Short sale homes are the real estate market's diamond in the rough. It's true that buying short sales can be a very tricky process, but for the flexible and patient homebuyer, the short sale home can be the dream house they've been searching for.

1 Comment