Hinckley, OH

Just Sold 706 Walden Pond Hinckley Ohio - Pulte New Construction.

A buyer of mine just closed on their brand new Pulte-built home in Walden Pond in Hinckley, Ohio.

The process went very smoothly, Pulte did a great and everyone is happy.

There are a lot of elements that go into planning (from a buyer's perspective) to ensure that the end result is not only satisfactory, but fulfills all the hopes and desires of the individual buyer. An experienced agent with a keen understanding of new construction can successfully help guide a buyer through some of the major choices that have a lasting impact, a few (not exclusive by any means) key choices are:

• Lot selection.
• Which direction the home faces.
• Where will you spend most of your time (ties into the previous bullet).
• Choosing a model/floorplan. Looking at a 2D schematic is a whole lot different than walking through the actual house itself. Always try and walk-through the actual model, even if it means driving 50 miles away to a different community where it is being built (if possible).
• Design and material choices. The choices made here can affect future resale value.
• Options. Do I finish the basement now or afterwards? Finishing an inground basement afterwards is a huge inconvenience and much more costly, but there are also cons to finishing a basement right away.
• What are things the builder typically does not do that could be done post-sale or that the builder may be willing to do as part of the design selections? Things like putting hardware on kitchen and bathroom cabinets for ease of use. Pendant lighting over an island, running an extra gas line to the basement for an future fireplace. Making larger basement emergency egress windows that could actually be used for emergency egress (Pulte does this in Walden Pond, but check with your builder for their policy).
• Should I obtain a home, pest, radon or other inspection(s) at various points?
• Are the township/county building code official inspections adequate to ensure my home is well built?
  
• After Sale Costs. Will there be additional costs for landscaping? Oh yea, you can bank on that. Window treatments? You betcha! Deck or patio?
• After sale warranties and customer service policies.

This is where having a strong, knowledgeable, experienced and driven buyer's agent who will both partner with you every step of the way to ensure your hopes, dreams, and your financial interests are well represented.

I just helped a buyer purchase a lot and the Belmont model from Pulte Homes at The Reserve at Walden Pond in Hinckley, Ohio.

To have over 3,100 square foot on a premium half-acre lot with a southerly exposure, with a base price at $339,900 in Hinckley, Ohio is a rare find.

It is amazing to see the innovative designs of today -- open floor plans, upgraded features throughout, numerous options for customization, etc.

This development is selling fast, so if you are thinking of building a new home in this general vicinity, feel free to contact me as the best lots always go first.

Here are the February 2010 real estate market statistics for the Hinckley, Ohio community in Northeast Ohio

Absorption Rates and Months Housing Supply

These two terms are one piece of the puzzle to help real estate agents, appraisers, home sellers and buyers alike make sense out of the real estate market.

This is a little-known, but effective tool, if used in proper context, to help a home seller or buyer understand the market conditions for the home they wish to sell or buy.

The easiest way to define these two terms is with an example:

Absorption Rates (AR)- The rate at which homes are selling (ie. absorbed), over a specific time period, typically 12 months. This is beneficial in determining supply and demand trends for the local market.

Months Housing Supply (MHS) - How long it will take, in number of months, for all the current homes for sale to be sold.

Formulas:

Monthly Absorption Rate = # of homes sold in the past twelve months / 12 Months.

Months Housing Supply = # of currently active homes for sale / Monthly Absorption Rate

Reference Guideline:

# Months to Sell Type of Market

1-4 Sellers

5-6 Balanced

7+ Buyers

Note: Six (6) months of inventory is considered a balanced market.

As is true with everything statistical, one has to really know when to apply this tool, under what circumstances is it relevant, and what are the constraints, as with everything in real estate, no individual property fits neatly into a box (no pun intended) or equation.

Here are a few examples of a few constraints:

• Seasonal fluctuations - If more homes sell in the spring and summer months, what should the sampling period be?
• Expired Listings - How should listings that have expired and been re-listed be treated?
• Selecting Active and Sold Homes - What homes should be selected? What criteria should be used?
• Selecting the AR Time Period - Is 3 months enough? 6? 12?
• Is there a negative or positive trend underway? How do you compensate for the trend?
• Since these are median #s, how does my home relate?
• What can I do to make my home defy the median?
• Do watershed events (say...the October 2008 Economic/Credit/Housing meltdown) affect: time periods? the statistics themselves, the subset of homes selected, etc.?
• Is new construction affecting the supply or demand of nearby properties?

A question that sellers typically raise after reviewing this information:

Does this mean my home will take 22-38 months (Median MHS) to sell? While there is no easy answer here, the answer is: It depends. Many factors go into how quickly or long a home will sell. See my post titled "Your home is worth whatever a buyer is willing to pay for it" which talks about the many factors to consider when selling a home. We sell homes that defy the median, and are at the low end of the statistics when sellers listen to our advice and adopt our home preparation, staging and pricing considerations. While nothing is guaranteed, it's all about maximizing your opportunities relative to your competition and constraints.

Using a concrete example below, taken from the Northeast Ohio MLS, this report was run for the Town of Hinckley, Ohio, all single-family homes, so to see what is happening in the community as a whole:

Source: NEOHREX. Information deemed reliable but is not guaranteed.

A couple of observations from looking at the above table:

• The MHS is much higher than a balanced market, so the current market (and true as well over the past year) favors buyers.
• Sales are down in the current quarter, which should be expected as the winter season is typically the slowest time of the year to sell a home. That said, with the first time home buyer tax credit that expired on 11/30/09, the anticipation for greater sales was expected, especially since the first-time home buyer tax credit was extended through 4/30/10 (home under contract) as well as an additional $6,500 tax credit for move-up buyers, also in place through 4/30/10. The median sales price is down from the prior year.

Note: This is an example at a community level. The selection criteria would be customized to be relevant for a given property so as to make the data more meaningful.

Note: As of 4/1/09, Fannie Mae is requiring appraisers to compile the information you see above to be used as a part of a Market Conditions Addendum for appraisals.

Olsen Ziegler Realty -- A $marter Way to buy and sell your Hinckley , Ohio Home

This home is gracious and inviting from the moment you step in the front door! It was designed after a home built in the South with great attention to detail. Two lovely covered porches are across the back from which you can enjoy the serenity of the changing seasons. A truly spectacularl home!

Hinckley Ohio Luxury Homes For Sale

Luxury homes for sale in Hinckley Ohio currently makes up about 23% of the total homes for sale in the community. which is a high percentage compared to many communities. While the luxury home market segment in Hinckley Ohio is rather large, the inventory levels are also high, credit is available for buyers with good credit, the housing market favors buyers, and prices have come down from the highs of the 2006-07 market. Moreover, a truly motivated seller should be willing to negotiate hard to sell their home in this challenging marketplace, so even more opportunity exists in light of the already attractive environment that exists today.

As a Certified Luxury Home Marketing Specialist and a REALTOR with strong negotiating experience, I would be happy to assist you with your next luxury home purchase in the Greater Cleveland, Ohio marketplace.

Here are currently 14 luxury homes for sale in Hinckley Ohio starting at $500,000.

Luxury Homes starting at $500,000 in Hinckley Ohio

Happy searching!

Search for all luxury homes for sale in Greater Cleveland Ohio at Olsen Ziegler Realty

A $marter Way to buy and sell your Hinckley Ohio Luxury Home