Spring is in the air and the area real estate market is slowly coming back to life.

As hesitant buyers are pried from their fence sitting position is yours the listing they will make an offer on?

Your price is right, the house is in great condition,  priced below the competition and easy to show…and no buyers.  I am discovering that many great homes priced below market are sitting in neighborhoods that are scaring buyers away before they even look at your home.

Drive through your neighborhood and what do you see?  Well maintained homes or a myriad of “little things” that add up to declining area.  This is a harsh time of the year the grass is not green and the landscaping is spotty so minor flaws become very evident to “house hunters” who typically drive the areas they are interested in.

The next few times you drive home, circle your neighborhood and look at it through the buyer’s eyes.  Be on the lookout for:

• trailers, boats or mobile homes parked on driveways or on the side of the house- most neighborhoods have restrictions against these types of vehicles
• partially painted garage and front doors- not just winter wear and tear- but items that should have been taken care of long ago
• cars up on blocks or covered with canvas and/or plastic tarps
• cluttered (aka junky looking) front yards with lots of “stuff” all over.  Items like stacked up planter boxes, 3 or 4 artificial ducks or geese, rakes, shovels, watering cans and other stuff conveniently located near the front door
• car(s) parked on grass                                                                                                                     
• wood fencing with large sections                                              
•  of damaged/broken wood
• piles of mulch or top soil sitting on the driveway- from last year

If you take off your rose covered glasses and see a number of items listed above - potential buyers are seeing the same things.  Unenforced covenants restricting or prohibiting these items need to be enforced- but nobody wants to be the bad guy when it comes to asking neighbors to clean up.

However when the time comes to sell it may be to late to run around and coerce several neighbors into cleaning up their property. So if you are planning on moving anytime in the future you may want to become “your brother’s keeper” from now and initiate a neighborhood clean up. 

Whether you live in West Chester, Fairfield or Cincinnati Ohio, your housing values are affected by how your neighborhood looks to potential buyers.

What do you think about your neighborhood?  Any pictures you would like to share?  If you have any questions call 513-300-4090 or send an email.

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 You purchased a home and made sure to negotiate for a Home Warranty to protect yourself.  

In order to close on the property, you needed to produce proof of home owner’s insurance- protecting you (and the lender) in case of a disaster. 

At the closing, you paid for Title Insurance - a loan policy that protects the lender against title problems.

Chances are you didn’t purchase the most important insurance of all- “owner’s title insurance”ensuring you free and clear ownership of your home and land.  And as some owners have discovered- having the deed to a piece of land does not necessarily mean the property is free and clear. 

Several years ago area residents were horrified by the mess created by Erpenbeck scandal  in Kentucky and Ohio.  The builder’s failure to pay his bills caused home buyers to incur huge legal expenses and, in some cases, lose their homes.

Afterward the Erpenbeck mess the push to purchase  an “owner’s title policy” was magnified by the media and Realtors. 

But the memories have faded and buyers are no longer counseled early in the buying process to budget for title insurance nor are they given full explanation at closing on the importance of purchasing the policy before they walk out of the room. 

The only way to protect your interest in the property is with a policy called “owner’s title insurance”.  It is a one time fee covering you against most of the things that could come back to bite you when you sell your home 2 years or 40 years from now. 

According to the Title Insurance Premium Estimator the one time cost on a $200,000 home with a mortgage of $190,00 is $1087.50 (Price estimated for policy issued at closing)  Many home owners (and their agents) assume since no problems were found for their closing- then all future sales should be alright.  And in the majority of closings few, if any, major title issues surface.  However, if you are the one with problems, attorney’s fees will quickly exceed the price you paid for an owner’s title policy at closing. 

The State of Ohio has a great web site with detailed information about title insurance and another site with pricing information.   Your agent should be able to get an estimated cost for you- or try this Title Insurance Premium Estimator.

The title company offers a discounted rate to buyers at closing which is good for 30 days.  Don’t wait -budget the cost into your closing costs and purchase at the same time you sign the papers on your new property.

There are a few other “preventative” measures buyers should know about. Whether you live in Fairfield, West Chester, Mason Cincinnati Ohio- if you would like more information or need any type of real estate assistance call 513-300-4090 or send an email.

If you would like to read more see Real Estate Home Buying.

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The real estate numbers for the Fairfield, Ohio School District for February, 2008.

Trying to decide about the current value of your property- call or send an email.

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Let’s look at real numbers for the greater Cincinnati real estate market comparing February, 2007 to February, 2008.      

(Per the greater Cincinnati Multiple Listing Service for single family and condos)                                            

If you need more information to make an informed decision- just ask.

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February numbers are now available for home sales in the Lakota School District.

This is the simplified version of the numbers.  If you would like a detailed break down for your property- call or send an email.

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