Buyer beware!

Familiar phrase?  Well it should be and not because the real estate you are purchasing has hidden problems…but because the purchase contract you didn’t read may come back to haunt you.

Many real estate buyers are caught in last minute battles over the costs for owner’s title insurance, home warranties, repairs and closing costs because they didn’t take the time to thoroughly review the entire purchase contract.

Most, but not all, real estate companies in our area use the Cincinnati Area Board of Realtors version of the purchase contract.  Your agent will walk you through the contract-paragraph by paragraph- as you make an offer on a property.   However some buyers are so exhausted from running through homes, they do not really concentrate on the details of the  purchase contract.

Buyers -be aware of the following:

• Purchase Price (pretty obvious)

• Type of Financing

• Ernest Money -the process that is followed to obtain the money -if the deal falls apart.

• Dates -inspection and financing time frames.  Failure to stay within contract dates may cause problems

• Receipts for repairs

• Home Warranty - who is going to pay for it?

• Owner’s Title Insurance (yes you want an owner’s policy)-are you or the seller going to cover the cost?

• Closing Costs- if you negotiated a dollar amount toward closing costs and or points- is the proper figure reflected on closing statement?

• Closing date and occupancy date/time (not always the same date).

• Finally-if you think the yard set and fridge are included (and anything else not nailed to the walls) make sure you list the items on the contract.  Don’t assume.

A little extra time on the purchase offer contract can eliminate a lot of problems and reduce stress.

Related Articles: Scout’s Motto

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If you believed everything you saw on TV today, any real estate seller (or buyer) in West Chester, Fairfield or Cincinnati  could whip any house into shape with a little sweat and a few dollars. 

Unfortunately-nothing could be further from the truth. 

Home Staging” (getting the house in picture perfect shape prior to selling) has boomed with the slowing real estate market.  If you’re hooked on HGTV’s Designed to Sell or Buy Me  and A&E’s Sell This House and think you can handle everything on your own- go for it. 

If you are the average homeowner (like me) chances are you will need some professional assistance to stage your property.

Unfortunately, not all “home stagers” use the same tool box when working on your house.  Some stagers are realtors, who have taken classes and have a knack for staging , others are professional stagers who charge by the hour and/or job using your furniture and the third group of stagers takes it the next level- by supplying everything needed to stage the property. Today I am going to talk a little bit about the third group-the full service “home stagers” armed with an inventory full of furniture, draperies, bedspreads, pictures and anything else that might be needed to spruce up your place.

The tell tale sign of the “full service” real estate stager is, following the initial consultation, a truck with furniture and ”helpers” appear on your driveway.

Full service stagers can utilize your “things” or completely redo the property.  Sometimes all it takes is some rearranging, decluttering or spiffing up.  However, in a lot of cases -since most of us (me too) are not Martha Stewart- it takes a lot of time, effort and extra “stuff” to prepare a property for the market.

I had the opportunity to follow Added Touches Inc  (full service home stagers) on a job and the transformation was impressive….probably even more impressive since neither the realtor nor the home owner had to do anything.  After meeting with the owners and realtor, Barb Combs and Chanda Humphries (owners of Added Touches Inc) went to work.

Most sellers wait until the property has been on the market before hiring a “stager” -losing time and money because they listed the property before it was ready. 

There are a lot of great staging professionals to chose from- check references and make sure they can provide everything you need to transform your property.

Still not sure about staging or if  you are ready to put your house on the market?  Call or email for assistance.

More before and after pictures:

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The neighbors win! 

You wanted to know what is going on in real estate for ”our neighborhood” so I will keep it short and simple.

The single family homes in the Villages of Wildwood are divided into 3 sections: Fairways 1, Fairways 2 and the Greens.  If you are not sure the location of your house-let me see if I can clarify the locatations for you. If you have electric heat, you live in Fairways 1.  If live on Annandale or the streets off Annandale- you are a resident of the Greens and if you drive all the way up Woodside passed the Bluffs to get home- Fairways 2.

In the last 12 months 2 homes have sold-2 in Fairways 1 and 1 in the Greens.  1 home sale is pending in Fairways 2 on Woodside.

Currently there are 2 homes  and 1 lot up for sale: 1 in Fairways 1 on Brians Lane and in the Greens on Pinnacle Peak and the lot on Brushback.  (Driving around, I did see the for sale sign on Pineview- but per the Multiple Listing Service of Greater Cincinnati, the property is not currently an active listing.)

There are 36 homes for listed for  sale in Fairfield (per the Multiple Listing Service) priced from $200,000. to $325,000 and 12 of the listings are for new construction homes. Every seller needs to be aware of what is happening in real estate for Fairfield as well as our neighborhood- and then price their property for a quick sale.

Need to know about the value of your home or current market conditions-call or email.

Related Article:  Fairfield/Fairfield Twp July Real Estate Stats

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Data from Greater Cincinnati Multiple Listing Service

Mason real estate continues to sell!

Good news for sellers in Mason Ohio.  72 homes and 21 condos closed during the month with the average sale prices showing a very slight increase.

Days on market are decreasing- but there’s still a lot of real estate for sale - so it’s still a “buyer’s market”.

If you need specifics about your neighborhood or complex- call or email.

Related Articles:  Mason June Stats; Fairfield/Fairfield Twp July Stats;  West Chester/Liberty Twp/Beckett Ridge July Stats

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Data from Greater Cincinnati Multiple Listing Service

Good real estate news or meidiocre real estate news!

West Chester/Liberty Township/Beckett Ridge real estate stats for July has some good and some hohum information.

125 homes and 14 condos closed during the month of July….and the average closed price increased a few hundred dollars on the homes and by a thousand dollars on condos.

Days on market (the true days on market is much more complicated to calculate) appears to be decreasing as does the average list and pending sale price- though not by much.

Real estate sales continue to happen throughout the Lakota School District-but it is still a buyer’s market-so price accordingly.

Need more information about your complex or subdivision- call or email.

Related Articles: June Stats, Fairfield/Fairfield Twp Stats

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