Posted by Paul Sian on Thursday, October 8, 2020 at 7:00 AMBy Paul Sian / October 8, 2020Comment
The median price of luxury homes in the September 2020 Greater Cincinnati luxury real estate market ticked up a small amount from August 2020. The total amount of homes sold went down and average days on market went down ever so slightly. The total amount of homes did see a reduction as well as homes got sold fewer homeowners decided to go on the market as well. As the weather gets colder expect homes available for sale to slow down as well.
Posted by Paul Sian on Thursday, September 24, 2020 at 7:00 AMBy Paul Sian / September 24, 2020Comment
For this podcast I sat down with Greg Matulionis, Master Carpenter and owner of Sawdust Therapy. During our conversation we discussed home remodeling, new construction, permits for home remodeling and more. This podcast is helpful for those about to purchase, or sell real estate or those considering remodeling their home rather than selling. I hope you enjoy the podcast and find it informative. Please also share with those who may find it useful.
Listen via YouTube:
Feel free to ask any questions via the comments section below or to email either Greg or myself. Also if you have any ideas for future podcast topics you would like to see let me know!
Posted by Paul Sian on Thursday, September 17, 2020 at 12:00 PMBy Paul Sian / September 17, 20202 Comments
Podcast: First Time Home Buyer
For this podcast I sat down with Walt Wollet, mortgage loan officer with Pacific Residential where we discussed his experience as a first time home buyer. Learn about the home buying process from the perspective of a mortgage lender and how handled the process and what things he might have changed to make it even better.
Posted by Paul Sian on Thursday, September 10, 2020 at 5:00 PMBy Paul Sian / September 10, 2020Comment
6 Pitfalls For Fix and Flip Investors
Buying a home in poor condition to fix up and sell for a profit is a real estate investment strategy that is popular with many. With home prices going up due to high demand and low inventory many investors are able to quickly fix up a home, turn around and sell it pocketing a nice profit which can be repeated again. There are pitfalls that new and seasoned fix and flip investors fall into that can quickly eat up any potential profits and turn it into a loser as this article explores.
Getting the repair estimate correct is important before one makes an offer to buy a home in need of repair. Hidden things like mold, water damage, foundation issues and more are quite costly to repair. By ignoring or glancing over those repairs when considering the offering price and the after repair value (ARV) the investor can be left with a loss when it comes time to sell the home. It can be helpful to allow a home inspector to walk through the home and do a full inspection if the buyer does not have the experience to spot all issues.
If the buyer does spot issues it can be important to bring in professional contractors to give proper estimates on the repair work needed so an offer for the home can be prepared. In hot markets many investors are competing against each other which means the luxury of bringing in a few contractors for different bids may not be possible. Instead the buyer should be relying on one contractor who has shown they know what they are doing and ask them to provide an estimate as soon as possible. If that contractor has done work for the buyer in the past they are more likely to get a quote out to...
Posted by Paul Sian on Thursday, September 3, 2020 at 5:00 PMBy Paul Sian / September 3, 2020Comment
August 2020 Greater Cincinnati Luxury Real Estate Market Report
The amount of luxury homes that sold and the amount of luxury homes available for sale increased from July 2020. As homeowners feel more comfortable in this new pandemic world and real estate agents are making sure virus guidelines are adhered to both buyers and sellers grew. While the fall is a second rush of home buying and selling it remains to be seen if this pattern continues for this year since the trends have been shifted due to the virus shutdowns.
Posted by Paul Sian on Thursday, August 27, 2020 at 2:00 PMBy Paul Sian / August 27, 20202 Comments
Where Should A Home Be Listed For Sale?
When putting a home on the market for sale one of the important aspects is to make sure it gets widespread attention on the internet and that it be accessible to home buyers who are looking in the area to make a purchase. The best way to do this is to have the home listed with a local qualified real estate agent who will list it within their local Multiple Listing Service (MLS). The MLS then shares that listing with many other websites (Realtor.com, Zillow, Trulia, and others) that list homes for sale. The key aspect to pay attention to is that the real estate agent is local to the property and is a member of the local MLS. This article looks at how home sales can face setbacks when they are not listed in the proper MLS.
Why The Local MLS Matters
When talking about the local MLS what that is referring to is the MLS associated with the area where the property is located in. A listing in Cincinnati, Ohio should be listed in the Cincinnati MLS as that is where Cincinnati real estate agents are also working to help their buyers and sellers. Listing a Cincinnati property in the California MLS makes little sense at all. While the property will appear in national websites that get MLS listings from all over the US they will not be shown in local websites that have only the local MLS feed.
The example of a home located in Cincinnati being listed only in the California MLS is an extreme example and unlikely to happen. What sometimes does happen though is that agents in the MLS the next region over are listing homes in their MLS rather than the local MLS since they don’t want to pay extra for the local MLS dues. The...
Posted by Paul Sian on Thursday, August 13, 2020 at 9:30 AMBy Paul Sian / August 13, 2020Comment
July 2020 Greater Cincinnati Luxury Real Estate Market Report
The median luxury home price ticked up slightly in July 2020 compared to June 2020 and along with that time on market reduced as well as the number of homes sold increased. Total luxury homes for sale remained about the same compared to last month. With increased opening of the economy and more buyers feeling comfortable going out and seeing homes total luxury home sold also increased in the Greater Cincinnati area.
About the author: The above article “July 2020 Greater Cincinnati Luxury Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at paul@CinciNKYRealEstate.com or by phone at 513-560-8002. If you’re thinking of selling or buying your investment or commercial business property I would love to share my marketing knowledge and expertise to help you. Contact me today!
I work in the following Greater Cincinnati, OH and Northern KY areas: Alexandria, Amberly, Amelia, Anderson Township, Cincinnati, Batavia, Blue Ash, Covington, Edgewood, Florence, Fort Mitchell, Fort Thomas, Hebron, ...
Posted by Paul Sian on Thursday, August 6, 2020 at 4:15 PMBy Paul Sian / August 6, 2020Comment
What To Know About A Home’s Roof
The roof is an important part of the home that help keeps the bad weather out of the home and helps retain heat in the cold months and retain cooler air during the hot months. There are a number of components that make up the roof. Keeping all parts of the roof in good working order and properly maintained will help with keeping the house standing and healthy for a long time to come. This article looks at the importance of routine roof maintenance homeowners should be doing and how to determine if a roof needs replacement.
How Is A Roof Assembled?
A home’s roof consists of a few different components. Shingles on top of felt underlayment on top of roof decking. The felt underlayment helps with keeping water from getting into the attic. Other components of the roof system include the gutters, flashing installed to keep water from leaking into openings of the roof (like the chimney, vent pipes, sky lights and more). While part of the roof, the gutters are mainly designed to channel water away from the base of the home in order to protect the foundation.
A majority of roof shingles are made out of asphalt that kind of look like very rough sand paper. Other types of roof shingles include slate tiles, clay tiles, metal, ceramic, plastic and more. Asphalt shingles are the most commonly installed shingles due to cost and ease of installation. For longevity metal, ceramic and clay tile shingles usually last longer than asphalt but also cost a bit more. Some companies have created ...
Posted by Paul Sian on Thursday, July 30, 2020 at 12:00 PMBy Paul Sian / July 30, 2020Comment
Where To Get Great Ice Cream In Cincinnati?
Cincinnati summers can get quite hot and humid and what better way to beat the heat than with a nice cool treat. Whether your craving is for a hot fudge sundae or just a scoop of your favorite ice cream flavor Cincinnati and Northern Kentucky have some unique places for you to try. Check out some of the places on the list below and let us know what you think is your favorite local Cincinnati ice cream place.
Graeter's Ice Cream
Graeter's Ice Cream got it's start in 1870! That's a long time to be making ice cream, but you know they have perfected their craft by being around that long. Known around the U.S. due to their flavor Graeter's has been noted in magazines such as Forbes, Vanity Fair, Saveur and more.
Posted by Paul Sian on Thursday, July 23, 2020 at 1:06 PMBy Paul Sian / July 23, 2020Comment
Indian Hill, Ohio was named one of the best places to raise a family by the Robb Report. Just as with many other markets inventory is low which means fewer homes available for purchase. Fewer homes with plenty of qualified buyers lends support to current pricing levels. Existing home sales are down from last year though, but with the lack of homes to sell would that be the same case with the enough homes to meet demand?
About the author: The above article “Indian Hill, Ohio June 2020 Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at paul@CinciNKYRealEstate.com or by phone at 513-560-8002. If you’re thinking of selling or buying your investment or commercial business property I would love to share my marketing knowledge and expertise to help you. Contact me today!
I work in the following Greater Cincinnati, OH and Northern KY areas: Alexandria, Amberly,...
Posted by Paul Sian on Thursday, July 16, 2020 at 7:00 AMBy Paul Sian / July 16, 2020Comment
Tips For Renting Your Home
Whether you are looking to convert your home into a rental investment property or need to move and are unable to currently sell your home, converting it into a rental property is an option. Contrary to what may be shown on television getting a home ready for rental and finding good tenants is not as easy as it appears. This article explores what steps homeowners should be taking in order to rent out their home.
Determine If The Home Can Be Rented Profitably
Renting a home and not making any money on it, or worse losing money on it is not a great investment strategy. While the homeowner may be forced to move due to a job or family situation, renting out a house where one has to pay money out of pocket to cover the mortgage and taxes does not make any financial sense. Part of the reason for renting out real estate is so the owner can have a positive cash flow, some of which should be saved to account for repair and maintenance expenses associated with the home. If the HVAC goes out the repair/replacement expense can be pretty. If there is a water leak the repair of the leak and repair of the damage associated with the leak can be high as well.
Thinking that long term appreciation will make up for the current lack of cash flow is also a faulty strategy to could end up costing the owner. Appreciation is never guaranteed in real estate as depending on the economy and migration one may find themselves with a depreciating asset. If a large employer decides to relocate or the desirability of an area decreases real estate prices as a whole in that area...
Posted by Paul Sian on Thursday, July 9, 2020 at 7:00 AMBy Paul Sian / July 9, 20202 Comments
Tips For Selling A Home During A Pandemic
Due to the COVID-19 virus selling a home during a pandemic while a little more challenging is still possible. Homeowners need to protect their own health and the health of buyers while having showings. Some homeowners are using virtual showing technologies, many markets are restricting showings to no more than one buyer group at a time and shorter overall showings. Things like providing sanitizer, masks, gloves and more are more common in homes that are on the market and allowing in person showings. This article explores what home sellers need to be doing to ensure a successful home sale during the COVID-19 pandemic.
The Common Home Selling Advice
This advice bears repeating since it is important for home sellers to have their home put its best foot forward when it comes to getting buyer attention. Anything less can result in a home sitting with little attention from buyers and needing steep price cuts in order to get sold. Regardless of the current state of the economy there will always be a need for people to buy and sell homes. With internet access available at the touch of a few screens on a smart phone, buyers are savvier than ever when it comes to knowing about the price in relation to the value of a home.
Posted by Paul Sian on Thursday, July 2, 2020 at 7:00 AMBy Paul Sian / July 2, 2020Comment
June 2020 Greater Cincinnati Luxury Real Estate Market Report
Last year there were 80 luxury homes that sold within the month of June 2019. The median price was $899,450.00. Average days on market was 121. The biggest difference this year as can be seen is the total amount of luxury homes sold only being 56 during June 2020. The Greater Cincinnati region was just coming off the tail end of COVID-19 related economic shutdowns and many sellers pulled their homes off of the market as a result. There were more luxury homes available for sale in June 2019 than there are today. So long as qualified luxury home buyers are still ready to buy prices will stay steady in the luxury market with the limited supply.
Pending Home Sales Are Off Of Recent Lows - While pending home sales are off of recent lows they are still below where they were last year. One of the biggest struggles home sellers have are putting their home on a market facing a pandemic and having another place to move to as well once they do sell their home.
About the author: The above article “June 2020 Greater Cincinnati Luxury Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at paul@CinciNKYRealEstate.com...
Posted by Paul Sian on Thursday, June 25, 2020 at 7:00 AMBy Paul Sian / June 25, 2020Comment
Different Kinds Of Home Rehab Projects
Real estate investors looking at the fix and flip model or the buy and hold model often look for properties that have some sort of value-add feature so that they can boost their investment through price appreciation. Houses come in different conditions and investors should understand the different type of house repairs that will be needed as part of their investment decision making process. This article looks at the different conditions investors can expect to find in a home bought for investment purposes.
Fix and Flip vs Buy and Hold
The two main strategies are fix and flip and buy and hold. With the fix and flip strategy investors are looking to buy a house that needs repairs, make the repairs and then sell the home for a profit. With the buy and hold investment strategy the investor is looking to buy a house that needs repairs and then will keep that property in their portfolio as a rental property, making money from the rent and from the increase in value.
As part of the buy and hold strategy or fix and flip strategy many investors will use cash or a hard money loan to make their purchase since the type of homes they are interested in usually do not qualify for a traditional mortgage loan. Once the repairs have been completed the buy and hold investor will often times refinance the property into a traditional mortgage and take out cash at the same time to make another buy and hold purchase.
Posted by Paul Sian on Thursday, June 18, 2020 at 7:00 AMBy Paul Sian / June 18, 2020Comment
Options To Consider When A Home Won’t Sell
Selling a home requires the right preparation, right pricing and marketing to help get it sold. Sometimes depending on the market or the seller’s requirement to sell at a certain price a home just may not get sold. For example during the initial COVID related lockdowns many homeowners pulled their homes off of the market and those that stayed on the market saw their showing requests drop rapidly. This article explores what homeowners can do when a home is not selling.
Take A Break
Sometimes there is a wrong time to have a house on the market and the COVID shutdowns can be a perfect example of when may not be the best time to try and sell one’s home. Many home buyers concerned about the risks of the virus decided to stay home and not look at all. Some home buyer’s also were temporarily out of work and highly concerned about whether they would get their jobs back once the lockdowns did end. The result was there were not enough buyers ready to buy and unless a homeowner was selling their house for the bottom dollar the chance of getting an offer was greatly reduced.
Other times when real estate buyer traffic slows down includes the holiday season at the end of the year and during the summer break when many families are away on vacation. These times also reflect a slow-down in general when fewer homes are selling. If a homeowner is getting very little interest during these times it may be advisable to pull the home off of the market until the market is back in the full swing...
Posted by Paul Sian on Thursday, June 11, 2020 at 7:00 AMBy Paul Sian / June 11, 20202 Comments
May 2020 GREATER CINCINNATI LUXURY REAL ESTATE MARKET REPORT
With many areas starting to open up real estate sales have started to pick up as well. Some homeowners have pulled their homes off of the market during the virus induced economic shutdowns and some of those homes may not come back to the market due to changed plans. In the near term this will cause competition to increase due to fewer homes being on the market for those buyers still ready, willing, and able to buy. See below infographic for how luxury homes performed in the Greater Cincinnati, Ohio real estate market.
Posted by Paul Sian on Thursday, June 4, 2020 at 7:00 AMBy Paul Sian / June 4, 20202 Comments
Tips For Setting Up The Perfect Home Office
With the recent virus issues many more people are working from home on a regular basis. A properly setup home office will allow for a good work environment that allows one to be productive and be healthy at the same time. Having a home office can also help increase the value of a house providing it is not taking away from existing rooms. This article looks at some best practices for setting up a home office.
Consider The Location
If one plans to work full time from a home office then having a “room with a view” is ideal if possible. While a lot of times homeowners have extra space in the basement for setting up a home office that does not make it the best place to have a work space where one will be spending eight or more hours a day unless of course the basement is a walkout basement and has a view. The reason that a basement is not a good place for an office is the lack of the view and the lack of natural light.
Office workers who stay in a confined space with no access to natural light and a view of the outdoors to break the monotony up will have a harder time keeping focused. Even if for only a few moments at a time having a view where one can look out a window provides a break from staring at a computer screen all day and is a great way for mental refreshment. Having natural light during the workday also boost productivity and helps with sleep!
While some homeowners may not be able to find extra space for the home office depending on house size and family size there are always options to explore. If all the...
Posted by Paul Sian on Thursday, May 28, 2020 at 7:00 AMBy Paul Sian / May 28, 20204 Comments
Who Has The Best Donuts In Cincinnati?
What's not to love about about tasty baked or fried donut treats which come glazed, cake type, yeast raised, with sprinkles, frosted, or filled donuts. Great for snacking, as a desert or with coffee in the morning there over ten billion donuts eaten annually in the US alone. Cincinnati has many different donut options to choose from as this list explores.
Holtman's Donuts has been around since 1960 with the very first shop in Newtown, Ohio. There are currently five locations serving some of the unique and tasty donuts they have to offer. Locations include Loveland, Oakley, OTR, West Chester and Williamsburg.
Posted by Paul Sian on Thursday, May 21, 2020 at 7:00 AMBy Paul Sian / May 21, 20202 Comments
Selling A Home While Going Through A Divorce
Whether this is a change that is for the better or there are still some issues to be worked out selling a home during a divorce can be challenging. A home sale transaction is easier when all parties are cooperative with the sale, meaning the buyers and each of the sellers. In a divorce situation that can be a little difficult especially if one spouse is still holding on or wishes to take an approach that is confrontational. Whether the desire is to sell the home or for one party to keep it there are some considerations that need to be made and this article explores.
Deciding To Keep The Home
One of the primary deciding factors for keeping a home during a divorce is whether the spouse who will keep the home can continue to afford to pay for it. If neither spouse can afford to keep the home independently then the answer is to sell the home. Whichever spouse plans on keeping the home that decision must be made mutually or decided in court via attorneys.
The potential problem that comes when one spouse wishes to keep the home is that both spouses stay on the mortgage even after divorce. While a divorce agreement can specify who keeps the home and who is responsible for paying for the home the lender can still look to both former spouses if payments are stopped and the credit score of the spouse who no longer is living in the home will be effected as well. The deed which shows ownership of the home is easily changed when both parties agree to sign the document changing ownership but that does not work for the mortgage. The spouse who will keep ownership of the home can ...