AmyBSells Team - Cincinnati Real Estate Blog

Amy January 15th, 2008

As a responsible Realtor, and Accredited Buyers Representative (trained and experienced in hundreds of purchases) it is absolutely necessary for buyers to conduct a whole house inspection before purchasing a home. I have compiled a selection of frequently asked questions that my clients have and my commentary on each.

Having your future home and your largest investment inspected by a licensed inspector is an absolute must! As an Accredited Buyers Representative, I require all of my buyers to get a home inspection. The home inspection simply allows you to pay an independent inspector to inform you about the properties status or condition. Perhaps there are some maintenance items, or some mis-wired electrical outlets, or maybe the house needs a new roof, or the furnace is dead. You as the buyer need to know the condition of the property to move on to the next stage in the purchase. For your benefit, a whole house inspection is an essential part of the purchase of a home. This is so much the case, that if you decide not to inspect your largest investment, you must sign a waiver stating that I recommended this service and you denied the opportunity. That really says something!

Since the buyer wants to know the condition of the property he is buying, it is he who pays for his information/inspection. Inspections can run between 250 (small condo) to more than $500. I have seen the average around $350. They typically charge based on the sale price or size of the home. Not a bad price to pay considering you are about to make the single largest investment of your life to the tune of several hundred thousand dollars.

In my experience of working with some great inspectors, and as an ABR, I would suggest nothing less than a whole house inspection, and a termite inspection. The inspector will look at every system and component in the house, and do a termite inspection. The whole house inspector knows many things about typical issues, and many about complex issues. Every once in a while, the inspector will find a crack in the foundation that looks out of the norm, or some gross buckling in the roofing and suggest some ancillary inspections. For the foundation, we would call on a structural engineer, or the roof, a roofing contractor. But for the general inspection, the whole house inspector can evaluate the home 99% of the time and that will be all that is necessary. So, to start, choose a whole house inspection and a termite.

Termite inspections can be a requirement of the lender (depending on your loan), and thus a normal part of the process. In addition treatment for termites is around or under $1,000, so worth a $55 inspection in the event they are in the house we can ask the seller to have it treated. More on Termites and their treatments in another article.

Ancillary inspections like mold, radon or structural are all added expenses, increasing your costs $500, $120 and $400+ respectively and take between 3-20 days to complete. These are items that may be recommended by your inspector or Realtor based on evidence that they should be done. Visible mold on the walls, bowing in the walls of the basement, large cracks in the floors of the basement all lead to suggestion of ancillary inspections. If you are working with me, Amy Broghamer, my experience touring homes and other sales give me a solid back ground to help you identify any major issues while we are initially touring the home. I can spot potential major issues that may help reduce the chance that you will buy a house that will have a lot of inspection items noted. I can show you what to look for and when to know you have a great home that is worth making an offer on!

This question is simple. Ask Me! I work with very talented and knowledgeable inspectors. I work through more than 30 inspections a year, and know who is better than others, and who is going to be the most knowledgeable for your home. I recommend and use Kentucky inspectors for many reasons. Kentucky inspectors are LICENSED, which means they must keep their licenses current with continuing education, and follow a code of ethics set forth by the American Society of Home Inspectors. Using an ASHI inspector shows the seller that you have an inspector who knows what they are talking about and they have been trained.

See the Inspectors Code of Ethics here.

With so many new issues with homes it is good to know that your inspector has been in continuing education this year, and knows the latest on building trends and other inspection related issues. In the state of Ohio, there is no licensing requirement or continuing education required. I could decide to be in inspector tomorrow and inspect your home, without having training or knowledge of building codes and other inspection related skills. This is why I prefer to refer a few KY licensed inspectors to inspect your property. They work in Ohio about 50% or more of the time. The inspectors I recommend do more than 500 inspections in a year, which means they know what they are looking at, and have likely seen it before. With my referral, the will usually work you into the schedule faster and are often more in depth. They can suggest ways to fix issues and roughly estimate costs to do so.

I always recommend a good referral before you select an inspector. I have seen some poor inspections completed, and I know who is good! Also something to consider, if you call for an inspection and they are available that day or the next, why is no one else booking them? This is your largest investment, get a great inspector!

Since we are on the topic of great inspectors, check out AA Home Inspections website. Here they have an example report, with comments, photos with arrows and circles pointing to trouble areas, and you can see where everything gets inspected.

Having a thorough report with photos like this one, allows for better negotiation for you. Imagine if there were an issue with some flashing in the roof, causing leaking in the attic. The inspector would have photos of the roof and photos of water intrusion in the attic, with wet insulation proving with photos to the seller that this is a real issue that needs to be repaired by them ASAP. These photos and the professional report by a licensed professional give the issues more serious credibility and works to your advantage when remedying an issue that could cause you problems when you move in.

NOTE: Not all whole house inspectors take photos or include them in a report. The report is key, and it looking professional provides credibility to all parties involved.

With each inspector, you will find they have an agreement that you will sign. Here is a link to that agreement for AA Home Inspection.

http://www.aahomeinspection.net/Ohio_Indiana.pdf

In short, this document says that during this inspection process, we do the very best we can to completely inspect this property inside and out. We are limited to what we can see and get to inside the home and outside. They do the very best they can to give you the best idea of the condition of the property. There may be something that is not found during the inspection and later discovered after you move in. It is almost impossible to know every single intricacy of the house. All inspectors will have similar agreements.

During the inspection you are encouraged to be in attendance. The inspector will point out to you the things he has found in the home that need some attention, or he will teach you how to use a particular appliance or which way to turn the water on and off. As an ABR, I think it is important for me to attend your inspection as well. I will stop in towards the end to get the summary of any issues. This allows me to see and understand the things found so that I can effectively communicate and then show if necessary the listing agent the issues so that we can see eye to eye and get the issues resolved for you. You may also save some time by attending at the end for the summary tour as well. Inspections typically take around 3 hours, some longer, some shorter depending on the size of house. If you would like to do a virtual inspection, click here to see how things work at an inspection, and what inspectors look for in different areas of a home.

compliments of the AA Home Inspection website.

A home inspection is an in-depth visual examination of the physical structure and systems of a home. It is not an appraisal that tells you what the home is worth or a code compliance audit. If you are thinking of buying a home, condo, townhouse, or duplex, you should have it properly inspected before final purchase by an experienced and impartial inspector.

Why do I need a home inspection?

Purchasing a home will probably be the single largest investment you will ever make. You should know exactly what to expect, inside and out, in terms of repairs and maintenance. A fresh coat of paint could be hiding serious structural problems. Water marks on the ceiling, roof decking, or floor joists may indicate a chronic leakage problem or simply the result of a single incident. The home inspector interprets these and other clues, and then presents a professional and impartial opinion as to the condition of the property before you buy, so you can avoid any unpleasant surprises after the sale. Of course, a good home inspection will also point out any positive aspects of a home, such as: a new roof, new siding, and professionally installed pool or spa, to name a few.

Can I do a home inspection myself or have my friend help me?

Even the most knowledgeable home buyer or home owner lacks the expertise of a professional home inspector who has inspected hundreds or even thousands of homes in their career. An inspector is equally familiar with all the elements of home construction and the proper installation, maintenance, and interrelationship of these elements. Plus, most buyers find it hard to stay completely objective and unemotional about the home they are considering, possibly leading to a poor assessment. Even trained craftsmen, know that professionally inspecting a home is no simple task. Many wouldn’t consider doing an inspection for themselves, or even having one of their own employees do it for them, why should you?

No. A professional home inspection is simply an examination into the current condition of the prospective home. It is not an appraisal or a municipal code inspection. A home inspector will not pass or fail a house but rather, we describe its condition at that time and indicate which items will be in need of repair or replacement. This is when you call upon ME to help you appropriately negotiate repairs, price reductions or other consessions to make the results of the inspection worth it!

If the report is favorable, did I really need an inspection?

Definitely! Now you can have peace of mind in completing your home purchase, knowing the condition of the property and all its equipment and systems. You may have also learned a few things from the inspection and will want that for future reference.

AA Home Inspections answers this question as follows: We welcome you to read more out about our services, and then compare us to the competition. We’re sure that you will find that we are the best in the business; well-educated, professional, sincere, unbiased, fair, and thorough. Our inspections are a complete service, with no hidden charges. Our report format is easy to understand, easier to read (digital printout, no handwriting to decipher), and we include images with every report. We are not satisfied unless you’re satisfied, it’s that simple AND that’s our guarantee. All of these factors separate us from our competition, and continue to make us the preferred choice for home inspections!

• Buyers , Inspections , Listing
• Comments(0)

Amy January 14th, 2008

Who said that Real Estate is slow during the Winter/Holidays???????

Certainly not ME!!! I stand behind my statement that I have told to countless sellers each fall - “The winter market is a GREAT time to SELL your home!” - and I mean SELL your home.

Imagine for a moment (don’t close your eyes because you need to read, but just imagine). It is cold out, November or December, a crisp 34 degrees in the air. It may be snowing or spitting at you as you walk along the streets, up slippery stairs (be careful!) to homes that are for sale; boots, scarves, gloves, umbrellas. Not the most desireable time to shop for a home. If you could choose what time of year to buy a home, I am sure it would be the Summer or Spring - it is pleasant, warm and full of life and fun!

Well wake up! It is the winter. No green, white and cold, and not a fun time to shop for a house. Why am I so glum? I am just trying to illustrate a point to you. WINTER BUYERS ARE NOT SHOPPING FOR HOMES IN 34 DEGREE WEATHER for FUN!!!! They are doing it because they HAVE TO! The most serious buyers are buying homes during the winter months. These months are between November-February. If they are out looking for a house, it is not a fun walk down the street on a warm Sunday afternoon, they are drudging through snow and holiday traffic to buy a home, and they will not leave without one!

Winter buyers are often more serious for a few reasons. First, most winter buyers have a job offer to start in January, or are given a job offer in the new year, in January. They must move quickly to find a house and begin their new jobs. Also, families with children are trying to get their kids in school for the second half of the year, to try to keep things normal for their kids.

So may sellers take their homes off of the market in November, anticipating a slow winter. I guess Realtors are suggesting this, or have so often in the past that this is what sellers just assume to be the case. Consider that you may want to sell your home, and it is May, you may be one of 30 homes in your area and price range for sale, because it is the “best time to sell.” Well consider that it is December, and you want to sell your home NOW. You may be one of 10 homes on the market through the holidays and winter. When these serious buyers come trudging through the snow to see your listing, you have a 1 in 10 chance of selling to that buyer who WILL buy because they HAVE to. Compare that to the May 1 in 30 chance of selling to someone who is just maybe considering buying and is out enjoying the weather. Which would give you a better chance of selling, May or December?

I AM NOT GOING ON RECORD saying that the winter is slow. In fact, I am so busy and it is great! This year, since December 15th, I have sold 4 of my listings and helped 3 buyers purchase their homes. That is 7 transactions in the last 30 days, those 30 days include Christmas Eve, Christmas Day, New Years Eve, New Years Day. All 4 of those holidays, I had showings on my listings, or I received or negotiated an offer. Realtors never have a holiday, and I am happy to work to help my clients sell or buy their homes on a holiday! It was a great Christmas gift and a great way to start the new year for many of my clients! Two of those 4 listings wound up in a multiple offer situation, providing more profit for the sellers.

Who said this was a slow market? NOT ME!

Last, year, in 2006, I had 5 closings occur between Thanksgiving and New Years! All 5 of them were relocating for a job, or had to get their kids in school for the second semester. The year before that in 2005, I had 5 closings occur in February, and those buyers all put in offers in the December and January time period.

I believe in the winter market!!! My advice to you today, if your Realtor says that the winter market will be slow and nothing sells, find a new Realtor, because you will never sell if that is the attitude. I work 12 months a year, with steady business all year long. If I have sellers, I am working to sell the house. Be sure you know if your Listing Realtor takes off the standard Realtor break of Nov-Jan. I promise you, that is the time when most agents are not working because they don’t think that anything is happening. That is great for me and for my sellers who get their homes SOLD because I work to get them SOLD in the WINTER!

There is still time to take advantage of the WINTER market!!! With my work ethic and support team, we can have your home ready for sale in days, and SOLD in an average of 35 days (Most Realtors listings stay on the market an average of 100+ days) I am ready to SELL your house!

If you are serious about selling, call me!

I look forward to selling your home in this winter market!

• Buyers , Listing , Pricing , Trends
• Comments(1)

Amy January 14th, 2008

Update on Mortgages in Ohio Real Estate

The Ohio Mortgage Bankers Association (OMBA) released some very interesting data regarding their Q3 2007 figures that I felt compelled to share with my readers in Cincinnati, Ohio. As a resident, Realtor and Certified Residential Specialist, I feel that it is increasingly the local Realtors job to educate their local public on the state of the Real Estate market. I always suggest that the more local the data and information the better. You can’t form opinions regarding the Real Estate market from national news, based on California, Nevada or New York; you must look at what is happening in your state, city and suburb. This is my reason for writing a series of articles regarding the local real estate market. The more informed you are locally, the better the market will be for us locally.

Let’s start with Ohio, the state level and the recent figures released from the states Mortgage Bankers Association (OMBA). As you may have heard in the past, Ohio was a state of high foreclosure rates. When you break the state down by top 10 counties that these foreclosures are occurring in, Hamilton County, nor any other areas of Greater Cincinnati are amongst the top 10 that are the state’s worst counties for foreclosures. This is great to know if you live in or around Cincinnati, or its suburbs. And it lends to the mentality that the more local your information and news is, the better!

In the state of Ohio, The home ownership rate remains near record levels at 68.2% reports OMBA. This high rate of homeownership is almost record breaking, does not tell me that we are in despair in our Real Estate market. I wish these numbers were a part of the newspaper and evening news statistics!

The OMBA further suggests that 35% of Ohio homeowners own their homes outright, no mortgages at all! 48% are in a fixed rate mortgage, which is the conservative route, and almost half of Ohio residents are being conservative about their home financing, providing a stronger outlook for the future of the Ohio market! 15% of Ohioans have an Adjustable Rate Mortgage (ARM). And the smallest single group of people in Ohio, just 5% of homeowners is a non-prime or sub-prime borrower with adjustable rate mortgages. This is only 5% of Ohioans that have this higher rate loan that adjusts. The squeaky wheel gets the grease is TRUE! Why don’t we hear about the 35% who own their homes or the 48% who have the most conservative loans on the market? Instead, the newspaper and news casts prefer to report the doom and gloom when merely 5% of Ohioans that agreed to take a mortgage above prime rates and that adjusts gets into trouble. The media goes by the saying, “If it bleeds, it leads!” and that is causing so much of the bad press surrounding this Cincinnati Real Estate Market, which is simply not true!

In fact, in Ohio, the foreclosure rate is 1.7% of all loans in Ohio. The market tells us that a little over a half of that 1.7% will actually be foreclosed upon, but there are no exact numbers. The OMBA suggests that the number one cause for delinquencies and foreclosures is historically job related, most specifically so in the Mid-West, which has lost a significant number of manufacturing jobs. It is a fact that lenders want to lend money to borrowers who are willing and able to pay the loan back. They are not trying to induce a foreclosure situation! In fact, the OMBA estimates that between $30,000-$60,000 net loss occurs each time there is a foreclosure on a single property.

The lending community is taking note of these figures and situations that arise from these foreclosure situations. The competition in the lending marketplace has increased, leading the way for borrowers to find more options for their financing from the stronger, remaining lending institutions. The lenders are now pushing borrowers towards the more traditional mortgages, with down payments, fixed products and conventional loan options, which all help the borrower, the lender and the real estate market.

So, yes, Ohio has seen a small amount of foreclosures as state, Cincinnati and even smaller number of foreclosures. This concern over foreclosure figures has created more awareness in the lenders and loan options, which allows borrowers more education on their financing options. I hope that these numbers show you that in Cincinnati, we are going well, in Ohio, we are as well. Get your news locally, and there is always more good than bad, they just prefer to tell you the bad.

Hang in there and check back soon for some local articles on Hyde Park, Mount Lookout and other Cincinnati Suburb market conditions as they happened in 2007.
Data and statistics noted in this article are based onthe Ohio Mortgage Bankers Association’s Q3 2007 figures.

• Buyers , Financing , Foreclosures , Pricing , Trends
• Comments(1)

Amy December 18th, 2007

Northern Kentucky has already captured a significant revival with the addition of the Newport on the Levee complex. Stores and restaurants (and a wonderful AMC movie complex) took advantage of this central location, and crowds continue to flock to the area from Kentucky and Ohio.

Once again, Kentucky has won the battle with riverfront housing. First, the Ascent, while not exactly on the shores of the Ohio River, represents the first dramatic departure from the typical and out-dated buildings of Northern Kentucky. The Ascent building, designed by world-renowned architects, Studio Daniel Libeskind (designers of the World Trade Center redesign and memorial), was the first new building that was built to attract the wealthier retirees and executive type buyers, with prices ranging from $395,000 to $4.5 million for the 72 condos.

Next on tap was the larger South Shore development, a three-tower complex, featuring a private marina, clubhouse, pool and putting green. There are 200 units, priced at $250,000 to $2 million. This site features fantastic views of downtown and the east suburbs of Mt. Adams and Columbia Tusculm, and you’re just a short boat ferry away from the Montgomery Inn Boathouse.

The newest, but less expansive project is the River House Landing. These are town homes (and 1 Victorian home), feature private docks, elevators, and rooftop decks with gorgeous views of the Ohio River and downtown Cincinnati. These are much more livable areas, and offer more privacy than the Ascent and South Shore. While you still share walls with adjoining units, you don’t share floors or ceilings. A private garage on the ground level accompanies a media room, wine cellar and your own dock. This is key if you are a boat fanatic. Prices have just been updated to starting at $899,000, and you can choose from many luxurious amenities on the four living levels.

If any of these wonderful options interest you, contact me today, and we will figure out which is the best option for your lifestyle.

• Buyers , Covington , Kentucky , Newport , Northern Kentucky , riverviews
• Comments(1)

Amy December 3rd, 2007

The answer is, why wouldn’t you get a premium service without any added cost to you?

That is the question asked of me sitting at a kitchen table a week ago. A seller with two homes, not by choice, in a down market, priced too high and on the market for over 6 months said to me, “Why didn’t my first Realtor show me this information, I could have made a more informed decision about my original list price and the market in my area?”

I was saddened to hear how her previous Realtor did not do the necessary research that all CRS Designees are taught to do in their advanced training classes. I was called in after another agent could not sell the house. I took a totally different approach in considering the details of the listing. That is what Business People, or Certified Residential Specialists know how to do. It makes all the difference in the world.

That seller looked at me, with tears in her eyes, realizing that she had wasted 6 months of a decent market at the wrong price with the wrong Realtor, and that decision had cost her tens of thousands in the end. She said to me, “I had no idea you could provide this type of information on my house, my neighborhood and the local market. How did you know how to do this?” My answer was simple, I could have years of experience, but the CRS Education and training is what taught me how to find, organize and present the most relevant data to price listings to sell, all while making sure that the sellers largest financial investment was understood and treated with respect.

As a CRS, I am in the top 4% of the Realtors in the country. Certified Residential Specialists do more than three times the amount of business that the average Realtor does in a year. I have completed necessary experience and education that awards me the honor of being one of the elite Certified Residential Specialists. I have invested my own money in my education to become the best Realtor for my clients that I can be. After I earned this designation, I continue to invest in myself and my clients with additional educational opportunities and training. I want to be a wealth of knowledge so that I can transfer that information and those skills I learn in my CRS education to professionally assist my buyers and sellers with their largest financial investment.

In CRS courses, I learn skills and ideas that help me represent my clients better. I also learn advanced negotiation techniques, innovative marketing ideas, how to calculate absorption rates and how to predict how long a listing will take to sell, how to price a home, how to earn referrals and how to thank my customers and clients. How to create a team of professionals to make my clients experience the best it can be. I learn how to plan for my business’ financial future, so I am making good investments in my business to ensure that I will be able to work with my clients throughout their lives. I learn how to counsel, ask the right questions, answer the tough questions, negotiate, concede and win. These classes are taught by the most fantastic and experienced instructors that I have ever encountered in any industry. The forums are open and provide a wonderful environment to share experiences and ideas to make each of us better Realtors for our clients. I network and brainstorm with the nations Real Estate cream of the crop, bringing valuable and effective strategies and ideas back to Cincinnati and Hyde Park. We strive to be the most professional, knowledgeable, and experienced Realtors in the world. I do this to make myself better for you! I invest my own time and money, which makes me a better Realtor for you.

Just like a person would never trust anyone other than a Cardiologist with their most vital organ, their heart, … Seek and find a Realtor for your largest, most vital financial investment with a CRS after their name, because there might as well be a Dr. in front of it too, Dr. of Real Estate!

To learn more about the CRS Designation and the Council of Residential Specialists, visit their website at www.CRS.com.

• Buyers , Sellers
• Comments(0)

Amy October 13th, 2007

After reading The Home Buying Process Step 1, you know where your financial boundaries are, and you have a loan approval letter, we are ready to go shopping for a house!

Loan Approval: pull credit and prove income confidentially with lender constitutes a loan approval, this is more official that a pre-qualification or pre approval

There are many factors that figure into defining the type and location of your home. Factors such as where you work, what type of schools you desire, what type of home you are looking for, the ability to walk to restaurants, being near a bus line, and how much return on your investment you hope to gain, if any. I have individual resources for schools, area appreciation and demographics that I will share with you individually as they relate to your needs. These are all KEY in selecting your next home. As an Accredited Buyers Representative, I will take you through a list of questions similar to those below to gather some information on what is important to you and your family. Based on your answers, we create a list of priorities in order of importance. These priorities may shift a bit during our home search, but we always know which are the most important and keep track of them. No home is 100% perfect; there are always some things that get pushed aside for a better kitchen, or school district. But in the end, it is my job to keep you focused on those priorities when emotions tend to take over your thought process.

Example Questions during our First Meeting/Telephone Call:

1. What do you like to do on the weekends or in your time off?
2. Are schools important and what type of school are you looking for?
3. What do you like best about your house now?
4. When do you want to be moved into your new home?
5. How long do you think you will be staying in your next home?
6. What type of return on your investment would you like to see?
7. Are you handy, do you want to do some improvements, or move into a home that has already been done for you?
8. Are you considering a single family residence, or are you open to a condo as well?

Your answers to these questions help me to shuffle you into a few different areas of Cincinnati and even perhaps Northern Kentucky. We then talk about how many rooms, bedrooms, garages etc you will need. Since by this point, you have already spoken to the local lender and have a loan approval, we will be able to consider your price range and what you can get in a home in a given area for that price. This is where my experience with different communities, their school systems, and what you can expect to get for your price range comes in handy, guiding you to areas that will have what you are looking for. My knowledge and ability to hone in on what is important to you help you focus on what you want and save time looking in all the wrong areas while the home of your dreams sells to another buyer.

Congratulations! You are a VIP BUYER!

With the responses to my questions, along with the lenders loan approval, we can make you a VIP BUYER! As a VIP buyer, you will get priority treatment from me, sending you emails and scheduling showings for you. It is important for me to give you this VIP treatment, because you have done your best to get yourself loan approved. You have thought about the things you want in a home. You have thought about a location. We have worked together to prepare you for homes that meet your financial needs and your priorities.

When you are a VIP buyer, I’ll scour the Cincinnati or Northern Kentucky MLS and compile a comprehensive list of new homes on the market in the Greater Cincinnati Area, complete with pictures and detailed information. Every time a home that meets your exact needs comes on the market you’ll be notified via email. This simple program saves time and eliminates guess work, and provides you information on the latest listings and price adjustments before other buyers even get out of bed.

When you see a home come across your email that you like, you just send it back to me, and I keep a file of what you like. When you are in town, or schedule an afternoon to see homes, I will pull out the listings that you liked and we can see them all! Your home hunting trip takes priority for me! Sometimes, you might even need to see a spectacular home within an hour of it being listed, to beat the other buyers to the punch. We will get you in there and get it under contract before anyone else can even see it, even if I need to write the offer on the hood of my car! (It has been done!)

How long will it take me to find the house I want to write an offer on?

That question is asked of me by almost every buyer I have worked with on our first outing. Here is my answer… Once you have a list of several homes you want to see, I take note and LISTEN to what you like, the type of homes, the features inside them. When we go through the homes for the first time, usually a few hours, we talk inside each home about what you do and do not like what you would like to see. I take notes, LISTEN and formulate an idea of what you want to find. We talk at the end of that first day about what you thought of the homes, and try to narrow down types of housing, locations and styles of homes.

Sometimes after the first day of hunting, you may totally rearrange your criteria, but do not be dismayed. We are working to get you one step closer to your perfect home. We will collect more listings and focus a little more on certain areas or types of homes the second trip out, allowing me to assert more guidance in getting you to areas and homes that you expressed interest in the last trip. In this trip out, we get very close if not finding the house you are looking for. This occurs based on my LISTENING to you as to what you like and trying to narrow things down for you to exactly what you are looking for.

It usually takes 2-3 half day trips of looking at homes to really define what you want, and to find the home you want to write an offer on. I do this so efficiently because I LISTEN to what you are telling me. I LISTEN to what you want and I FILL THAT NEED with a home that meets your criteria. Listening to you is the key for me to help you get what you want. So, when we are out looking at homes, talk to me, tell me what you do and don’t like, how you feel in a home or a neighborhood. That is the info I need to move you ahead and closer to what you are looking for. It is an intuitive skill that I have that will save you time and get you the home of your dreams!

In some cases, it does take a bit longer, depending on your price range and specific needs, but rest assured I will find you what you need in a timely fashion. I want you to love your home!

It may seem like a lot of work in just the first two steps, but that is just half of the work! In the next step, you will see my honed Accredited Buyers Representative negotiation strategies and skills at work for you! Why are my skills so sharp, Practice, practice, practice! I sell more than 30 homes a year and negotiate more than 40 contracts a year. There are tricks of the trade, and time tested strategies that are under lock and key for my VIP Buyers only! Hang in there to see what Step 3: From For Sale to Pending has in store for you!

• Buyers
• Comments(2)

Amy September 6th, 2007

Depending on the price range of buyer that I work, with, I almost always get the question during our hunting,  “What about Foreclosures?”

Usually in the price ranges below 200K, we see a large amount of bank owned properties in foreclosure or accepting a short sale (when the bank will take less for the property than what they have lent out on it). Foreclosures are perfect for certain people but I will stand behind the statement that they are not a good idea for first time buyers, or for people who intend to use the home for their primary residence. That being said, there are a small amount of buyers out there that do have success in this foreclosure market.

Ohio has lead the country in foreclosed properties for several years. This shows us that at one point, banks in this area were more liberal in lending monies to people who were getting 100% loans, who perhaps should not have purchased a home at the height of their price point, and thus, have failed to make payments on time, defaulting on their loans and the bank taking the house back from them. I have toured a foreclosed property after the people living there were evicted, and I can assure you they were not happy they were kicked out. So much so that you sometimes don’t want to enter due to stench or filth. Many times, they are in the process of trashing the house, to get back at the bank, and you don’t want to buy that house for your family.

Typically if the owners could not make their mortgage payments, they might not have also been taking care of the general maintenance of the house. Almost always, you find that the house has been neglected due to lack of money to care for it. Sometimes it is small things like lawn care, but sometimes, it is a leaky sink, that leaks for months, causing the cabinet to rot out, and leak into the drywall of the floor below, now having concern for mold problems, drywall needing to be replaced etc.

In a foreclosure, since the people weren’t paying their mortgage payments, there may have been other bills or repairs that have not paid either. When creditors are not paid by their customer, they can put a lien on the real estate they own. This lien will have to be paid before you the buyer can purchase the real estate. So, if you buy a foreclosure you may also be responsible to pay off several thousand dollars in liens for the previous owner, before you can title the property in your name. There are methods of negotiating with lien holders for a reduced payoff, but you will always pay more than half of their lien debt prior to closing on the home. Investors are used to this type of situation and they pay the liens with cash and move on with their purchase.

Inspections are KEY in homes like these, if you intend to put your family into them. Remember, if this is the largest purchase you will make, then you must do your due diligence and have an inspection, to protect your families interests. The problem with inspections is that in the process of negotiating with the bank, they will rarely give you the time you need to get an inspection to know what you are buying. Nor do they ever agree to repair or replace anything that was not maintained or broken by the previous owners. They take a completely hands off approach with regards to inspections and repairs. Most will just sell the property as is and not even look at the results of an inspection. This will take the wind out of your sails if you were hoping to have a smooth and pleasant home buying experience. A foreclosure property will often have several other buyers or “investors� interested in this same property, who have cash and will buy the house with no inspections.

These investors have the upper hand, as they have cash to purchase the property, which allows them to close on the house in a week’s time. If you are getting a loan, then that process is likely to take 30 days to complete. The banks will take less for the home, if they can sell to a cash buyer with no inspections. And they do, almost every time.

When we have a short sale situation, and you want to put in an offer on a house, you go through a long waiting period. The house goes on the market, you write an offer and submit it, (some times, the bank requires a larger than normal earnest money or down payment that most buyers in this price range do not have) and depending on the bank, it takes 14-45 days to get a response from the back as to if they will take your offer or not or if they will begin to make a counter offer. In the meantime, cash offers will come in and will go to the top of the stack of offers at the bank in those 14-45 days. If you severely under bid for the house, then someone can outbid you during these 14-45 days. All while this is going on, you are prohibited from writing an offer on another property while you have an offer in on this one. You will have no idea when you will get a response or what that response will be. So, you might have just wasted 45 days, and missed finding that house that is perfect for your family and you could have already moved in by now. This method of buying a home may save you some money, or it may end up costing you more money in unknown defects and their repairs and frustration in the end.

In some states in the US, you can get all the way through this process and actually close on the house, and the original owner can come up with their deficient monies and get the house back! That means you lose the property you have been working for months to obtain, just because the previous owners raised the money necessary to take back their home. When this happens, you loose considerable amounts of money, especially if you have already begun to renovate the home, now for the old owners!

Foreclosures are a great idea when you have about 100K in cash to invest in a piece of real estate. These types of investments are still risky if you don’t have an inspection, and know what you are buying. Foreclosures are great if you have time to repair and discover the inadequacies of the home, they are not generally move in condition. If you are a handy man or are very knowledgeable about the construction and or renovation process foreclosures are great. If you have investors along side you in the property, it reduces your risk, and most investors team up or have a few partners to reduce risk. Foreclosures carry a lot of risk, and if you can bite through the risk, there is sometimes a large reward, other times, it is a break even or when more problems than expected come up, they are upside down in the investment. To me, foreclosures are best for investors, not families. If you are still interested in purchasing a foreclosure property, I can recommend you to a Realtor that focuses his business in the foreclosure market.

If you want to be excited and have a great experience finding your dream home, I don’t recommend going the foreclosure route. I can promise you will have a wonderful experience buying a home the traditional route that 99% of people take when purchasing their primary residence with me! I hope I am your #1 choice to represent you as your Residential Realtor!

• Buyers , Foreclosures , Inspections
• Comments(2)

Pat August 20th, 2007

Have you heard about Triple Crown Country Club in Union, Kentucky?

The beautiful Golf Community of Triple Crown Country Club is located in Union, KY, 41091 on over 1500 acres and growing. The community honors the thoroughbred horses, jockey’s and trainers of the Triple Crown Winners of horse racing by naming their streets in honor of them. One of many streets named for a triple crown winner is Arcaro Lane, named for the great thoroughbred jockey, Eddie Arcaro, who rode aboard two different horses to win the prestigious Triple Crown race not once, but twice in consecutive years (Whirlaway in 1941 and Citation in 1942). In the community, the two streets name Whirlaway and Citation are connected by Arcaro Lane.

Eddie Arcaro was born in Cincinnati, Ohio in 1916 and died in 1997. He rode his last race at the age of 45 in 1961. Homes on Arcaro in Triple Crown range in price from $375,000 to $650,000.

Triple Crown Golf Club is private and holds its rank in the top 3 for difficulty in Greater Cincinnati. A beautiful club house with dining privileges, swimming pool, tennis courts and driving range. The homes in Triple Crown have price ranges for single family from $240,000 up to over $2 Million Dollars. The community began with Residential Single Family homes in 1990 and now has over 721 Single Family homes and 547 Condominiums. There are no Apartments in Triple Crown. The membership to the Country Club is not required nor is it included when you purchase a home or condo in the community. A home owners association does exist and the fees to date, per unit, are $400.00 per year. If you would like to learn more about this community and country club memberships, go to www.TripleCrownCC.com (map).

The community also has an optional swim and tennis membership, not associated with the Country Club. There are walking trails and play lot for children, horses in a paddock area at the entrance of the community and Triple Crown Boulevard runs thru the middle of the 18 hole golf course. Some homes are situated on the course and others on lakes and nicely wooded lots with full utilites.

Homes in this golf community see an average appreciation of 3% per year. Many custom homes are located throughout the community. There is also a nice mix of affordable production-built homes, priced from $300,000 to $550,000. Condo’s range from $125,000 to $400,000. Riva Ridge, Pimlico and St. Leger are the only Landominiums in the community with prices ranging from $450,000 to over $750,000.

Excellent, award winning Boone County public and private schools for children, many fine universities close by, such as University of Kentucky, Thomas Moore College, and Northern Kentucky University and in Cincinnati, Ohio the University of Cincinnati, College of Mt. St. Joseph and Xavier University.

Real Estate Taxes are found to be very reasonable, compared to similar golf communities in neighboring states. The Real Estate Tax rate is for an unincorporated area of Boone County at $8.26 per $1000.00 of the purchase price of the home and or lot, plus a small tax of less than $2.00 per $1000.00 for fire district and emergency vehicle response, which varies with each Fire District. The roads are all county dedicated and maintained and the community is located within 2 miles of Interstate I-71/75, at Exit # 175, (Richwood Rd.) and lies between US25 and US42. Triple Crown is approximately 12 miles south of the Greater Cincinnati and Northern Kentucky International Airport, CVG and located just 16 miles south of Cincinnati, Ohio’s riverfront and

Covington and Newport are Northern Kentucky’s active entertainment riverfronts. 60 miles south is the Kentucky Horse Park near Lexington, KY.

I have lived with my family, in this community since 1991 and was the first REALTOR to purchase a lot here. My family was one of the first families to commit to building a home in this community in 1990. I specialize in relocation, homes and lots in Triple Crown and represents many buyers relocating into the community. I bought and chose to move into this community because from my first visit to my latest trip into the community, I feel like living in Triple Crown is like going to a resort, on vacation, every time you enter this community. I have been selling real estate as a REALTOR since 1989 with RE/MAX.

10944 Arcaro Lane, Union, KY - view more photo’s and information of this Triple Crown home
Read more about this home

• Buyers , Kentucky , Neighborhoods , Triple Crown Country Club
• Comments(0)

Amy August 20th, 2007

What is Staging?

STAGING [stey-jing] noun/verb

1. verb The act, process or manner of presenting a house for sale

2. verb The art of transforming a space so that it is universally appealing by emphasizing the natural architectural features and downplaying the negative aspects of the space

3. noun The business of preparing one’s house, in order to sell faster and for more money

If you have seen any of these HGTV shows on your evenings or weekends, you will know what Staging is. It is they method by which a Staging Professional, trained, educated and practiced in the art of staging, turns a home from the way you live in it, To the way it needs to be sold. Professional Stagers accent and draw attention to the best details of the home and not the decorating. These are very different things.

Home Staging IS detailing, de-cluttering, depersonalizing and preparing a seller’s home to give it a “model home” appearance so that the potential buyer can “see” themselves living in the home.
The official Accredited Staging Professiona(ASP) website states that:

On average, staged homes sell 50% faster and for 6.9% or more than non-staged homes and homes that are Staged before being put on the market sell in an average of 9 days.

I find myself explaining this concept to those who have not before seen a vacant home staged, or those who cannot visualize their own homes in a more neutralized way. I truly think these examples will speak for themselves. Look through the virtual tours to determine the difference these homes that have been staged make to the buyer.

The Vacant Rehab:
This home was totally vacant before we staged it. In fact, it had been rehabbed and totally complete and ready to move into for more than 6 months before I took the listing. I had the house staged, because it was so large and empty, I felt that people would have trouble thinking of what would go in each of the rooms in the house. The house was staged, and when I held an Open House after staging, people in the area came through again and said it looked better “finished” and that they thought the first time they had been through 6 months ago, it wasn’t “done” yet. In fact, the house had been done and ready to sell, but the staging made it fell like a home and a more finished product. In addition, this home was so large with 15+ rooms, buyers had a difficult time understanding what they could or would make each room into, so we planned a home office, and a second floor family room, along with a few other ideas to fill up these rooms and give buyers ideas for what they can do with this huge home. http://www.amybsells.com/listings/2166Grandin/

Vacant over Winter:

This next home was for sale for 6+ months with another agent. Priced too high, with no offers. Totally vacant between Thanksgiving and Christmas. I suggested spending the money on staging. I had Realtors go out of their way to call me and tell me what a difference the staging made to the feel of the house when they showed it from before and after the staging. In December, we had 4 offers in 2 days, it sold over asking. (There are your statistics stated above) This is an example of light staging that really just warms the house up and provides lighting for timers to draw attention on those evenings that turn dark so early.
The Sub Contractor Stage:
This home was also staged by Nancy Buck with It Pays to Stage. Nancy doesn’t just stage homes with her furniture, but she also consults and can act as the general contractor for the interior painting and colors, the new carpeting and color, and the refinished hardwoods. This went beyond the normal staging of a home, it was a roll up your sleeves 3 week job! With Nancy’s connections, a job like that can be done very quickly so you do not miss valuable selling time in this difficult market.

The Do it Yourself:

The owners of these two properties did their own staging with great success. The staging professional also charges a fee to come to your home with things you already have and helps you arrange, and de clutter for the best appearance, she also suggests new wall color or carpeting, exterior curb appeal ideas in a written report for you to take to the job yourself, simply following the professionals direction…

No Staging:

Compared to completely vacant properties, the staging does make the house feel more like home, and puts the buyer more at ease with their environment. Based on the time of year the home is on the market, a lamp on a timer in almost every room is nearly a necessity. Even simple light staging will act to draw the eye away from the imperfections in the home and towards the features. This is a benefit to staging a home. In contrast, see these homes that have not been staged…
http://www.amybsells.com/listings/1627Alcor/
http://www.amybsells.com/listings/9323Loveland-MadeiraB/

Who do I recommend as a Professional Stager?
I work with Nancy Buck, an ASP every chance I get. She is always on time, professional and has great ideas. She is passionate about making sure that your home is displayed in the best possible light and accentuated for the buyers. Whatever it takes to make the house look the best, Nancy will make it happen. She works quickly to know what the client is looking for and makes the staging happen quickly, keeping in mind that the home needs to be on the market to sell. She has proved effective in several of my listings that were previously difficult to sell, took only days after her warm touches and suggestions. Being a designer as well, she knows colors, textures and lighting. Lets see what she can do for your home!

What is an Accredited Staging Professional and why should I use one?

The ASP or Accredited Staging Professional Course was started by Barb Schwarz. Barb created the concept of Home Staging some 35+ years ago and has been speaking on the topic to Real Estate Agents ever since. In 2000, she created the ASP Course and Stagedhomes.com. Since then, more than 14,000 Stagers and Real Estate Agents have completed our course. As Barb says on her website:

“Accredited ASP Stagers and ASP Real Estate Agents are true Professionals trained under strict guidelines using proven Staging techniques developed for over 30 years. When you bring your home on the market and prepare your house for sale always hire an ASP because they are the true leaders in the Staging and Real Estate Industries.�

What do these Professional Stagers need to do to get their title and designation? Thankfully, they have to have education and experience to call them selves ASP’s.

• ASPs who have graduated from our three day class, have completed training that includes vigorous instruction in the following areas:
• Knowing the benefits of Staging and how Staging can help homeowners sell their homes faster and for more money.
• The techniques and concepts of Staging
• How to Stage homes using just the furniture and accessories the homeowner already has in the home
• How to Stage vacant listings by renting furniture or supplying their own inventory
• Hands-on Staging training and practice in class by Staging an actual lived-in home that is on the market
• Also, though Stagedhomes.com is not a franchise and ASPs conduct their own business, they do sign a type of “Code of Ethicsâ€? with us that ensures they will follow proper business practices. It’s rare, but if we do receive a complaint about an ASP, we do investigate it and we hold the right to withdraw their designation.

• Buyers , Staging
• Comments(2)

Amy August 12th, 2007

Attention: For Sale By Owners! Why People Are Afraid To Buy From You!

Many homeowners believe to maximize their home sale they should sell it themselves. At first glance, they feel selling a home is simple. Why should they pay a broker fee for something they could do themselves? In fact, 12% of all the homes sold last year were sold For Sale By Owner (FSBO).

However, close to half of the FSBO’s said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO’s told us the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the fees paid to consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising, they would have been better off to have paid the broker’s fee that would have included many of these charges.

Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBO’s discovered that they lost money as a result of poor marketing decisions. In the final outcome, this far outweighed the commission they would have paid.

Before you decide to sell FSBO, consider these questions and weigh the consequences of assuming the responsibility versus employing a professional. A little time spent investigating now could pay off tenfold in the end.

Questions To Consider

Do I have the time, energy, know how, and ability to devote a full forced effort to sell my home?

One of the keys to selling your home effectively and profitably is complete accessibility. Many homes sit on the market much longer than necessary because the owner isn’t available to show the property or return phone calls within 3 hours. Realize that a certain amount of time each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBO’s as targets for “low ballingâ€??

Another challenge of selling a home is screening unqualified prospects and dealing with “low-ballers.� It often goes unnoticed that much time, effort and expertise is required to spot these people quickly. Settling for a “low ball� bid is usually worse than paying broker commissions. In addition, buyers looking for FSBO’s want to share in your savings, so they will often offer much less to share in the savings you are getting as a result of not paying a commission.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?

One of the keys to selling, whether it’s a home, a car… anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had “all your ducks in a rowâ€?? By offering financing options, you give the home buyer the ability to work on their terms. You’ll open up the possibility of selling your home quicker and more profitably. A professional real estate agent will have a complete team for you to profit from… lenders… title reps… inspection companies… they’ll be completely at your disposal.

Do I fully understand the legal ramifications and all the necessary steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your state’s disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, you may want to consider consulting with a professional.

Am I capable of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?

Ask yourself: “Am I well-versed in legalese? Am I prepared to handle disputes with buyers?� To avoid any disputes, it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals… title, inspector (home and pest), attorney, and escrow company?

Are you familiar with top inspectors and escrow companies? Don’t randomly select inspectors, attorneys, and title reps. Like any profession, there are inadequate individuals who will slow, delay and possibly even cost you the transaction. Be careful!

My hope with this report has been to educate you and help you avoid the pitfalls many FSBO’s go through. I hope you found the idea’s valuable and if there is ever any way I can be of service to you or anyone you care about, please contact me Amy Broghamer at 513-377-3637.

• Buyers , Closing , Closing Documents , FSBO , Inspections , Listing , Pre-Approval , Pricing , Real Estate Law
• Comments(1)