Residential properties in the Mason School District continue to sell in February, 2008.

If you have any questions about your property or the values of your neighborhood- call or send an email.

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Looking for ways to escape the winter real estate blahs?

Join the fun at The Carnival of Real Estate.  This site is a compilation of real estate blogs from all over - offering you a ideas and comments on a variety of real estate topics.  I think is it always helpful to look outside our market area for ideas and trends. 

Of course if you don’t have time to digest all the information- call or send an email for some personal assistance.

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Hug a Fairfield, Ohio Public Works employee today! They went above and beyond to dig us out of the weekend’s recor breaking snow storm.    

Many of you emailed me directly in response to Friday’s blog about “So Much for Global Warming…..” making bets on how many days we would be stuck in the house.  I have to admit as Saturday dragged on and our street became more impassable by the hour, I was wondering if Public Works had forgotten us.  However as soon the the snow stopped, the familiar beeping noise of the plow could be heard and in the matter of 10 minutes our street was clean and clear. (To those of you betting on a Monday exit from the house- I am accepting cash and checks)

Sunday morning we beat a path to Mercy Healthplex to work off Saturday’s indulgences and discovered that while Fairfield’s streets were in great shape- many other locations were not.  People from West Chester said that 747 was a mess and others indicated I-75 was not anything to brag about.

So thank you Public Works…the sun did come out on Sunday and thanks to you….were could actually get out to enjoy the day.

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As the snow dumps down on our area, I am thinking where is global warming when you need it? 

I know people are going to be jumping all over me for making this observation.  But really- enough is enough- and we have had enough snow for this year. It’s 12:30pm and the snow is currently coming down sideways- and that is never a good sign of things to come.

This weekend we “spring forward” to daylight savings and if we actually get the 10 to 12 inches of snow that is predicted- “summer forward”  world be the preferred time change for everybody living in the great Cincinnati area.

The good news for home sellers (and potential sellers) is that our long drawn out winter has convinced many families that their current homes are too small.  So many snow days with all the kids stuck in the house has always been great for the real estate market.  As soon as the weather breaks, these buyers will be hitting the pavement looking for homes offering them more space.  If you are thinking about putting your home on the market, take advantage of the next few days to clean up, paint and get your property ready for the market.  Currently on the market for a long time?  Think about a price reduction in order to capture the new buyers coming into the market next week.

Need help getting your property ready for the market- call or send an email.

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For eons consumers have been brain washed into believing the 3 key words in real estate are location, location, location!

Conventional wisdom stated that if you purchased a home in the right location-the sky was the limit when you decided to sell.  It would appear the number of  properties stagnating in the MLS (Multiple Listing Service) defies the wisdom of this type of thinking.

Real estate has always been about price!

Priced right- the “worst” home in any neighborhood is defying the odds and selling in under 60 days. 

Why? 

According to NAR (National Association of Realtors) 77% of buyers start their home buying search online.  They are comparison shopping before they actually walk into a home.  If your home is one of many on the market, with essentially the same square footage, number of rooms, property taxes and school district- why would the buyer pay a 10%, 20% or 40% premium for your house?

Most sellers justify price premiums by:

1. commenting on the prices of homes sold in the past- ( call that yesterday’s news)
2. tallying up all the things they have fixed or upgraded such as: new landscaping, roof, 95% efficient furnace, hot water heater (call that- “welcome to home maintenance”)
3. summarizing all the improvements such as big deck, gourmet kitchen, lower level entertainment center…..(call that- “what I did for my/our own enjoyment) 

 Sellers need to understand that #1 doesn’t sway anybody but an appraiser and appraisers are not buying your house.  Items in #2 may be viewed as a slight plus- but do not expect recoup dollars spent on home maintenance items.  #3 is often trickier to cost out because your $50,000 gourmet kitchen with dark cabinets may not appeal to the non-cook who prefers light cabinetry. And if the other homes for sale also have upgraded kitchen ($25,000 range to upgrade) and everything else is fairly equal….pricing becomes the buyer’s key decision making component….and they will not pay a premium for your property.

I am sure by now some of you are still thinking I don’t understand how important location can be- and truly -I do understand.  However as a professional in the trenches- I can tell you that today’s buyers have a wealth of comparison data available online ( Trulia , Zillow, local auditor’s sites).  They are savvy about values- and may not even look at your listing because they view the pricing as unrealistic.

If you are considering selling your home or been on the market for sale for awhile, focus on pricing it right and the buyers will do the rest.

Call or email if you need some specific pricing information on your home or any other property.

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