The crazy busy fall market has made me (and a lot of my clients) convinced that the house sales are improving. News out today from the National Association of Realtors confirms it. Existing home sales were up 10% in September. Wow!
Lawrence Yun, chief economist for the NAR, said the housing market is in the early stages of recovery. He said the recovery will be choppy but the general direction of home sales will be positive as buyers react to the low interest rates and relative affordability.
Opportunities abound in this marketplace....NOW is the time to buy or sell. Don't wait until interest rates go up and the competition gets stiffer come the spring market.
Monday, October 25, 2010
Thursday, October 21, 2010
Don't Miss It -- Children's Free Care Fund Luncheon on November 4
Save the date and please plan to attend our Pepper Pike office's Howard Hanna Children's Free Care Fund luncheon on November 4 at Garfield Memorial Church behind our office. Now in it's 22nd year, the "Chow Chow" lunches (as some call them) raise money to assure children aren't denied medical care. Over the years, Howard Hanna has raised more than $6 million for this important cause. Come to our lunch for just $5 and enjoy a great buffet, raffles and holiday shopping with a variety of vendors. Call me and I'll send you a free ticket! 216.470.6799
Monday, October 11, 2010
Getting Ready for Winter
Taking care of your home through the seasons is important. It keeps your house looking young and healthy, and will you more years of enjoyment. And it means it will be in better shape when the day comes that you call me to list and sell your house!
The following tips recently ran in a Plain Dealer article:
Chimney - Have it cleaned and inspected each year before using it.
Gutters - Keep cleaning them out during the fall so leaves don't create a blockage. Do a final removal and even hose them out before winter comes. Clogged drains are a major source of ice dams and can lead to big problems
Windows - You have until the end of December to take advantage of the $1,5000 tax credit for new energy-efficient windows
Furnace - Have it cleaned and tune annually
Pipes - Frozen pipes are a nightmare! Make sure water from inside your house to your outside hoses is shut off and drain the lines. You might even wrap and insulate any pipes that are near external walls.
Alarms - Always make sure your smoke and carbon monoxide detectors are working. I want to keep you around long-term as my client and friend!
The following tips recently ran in a Plain Dealer article:
Chimney - Have it cleaned and inspected each year before using it.
Gutters - Keep cleaning them out during the fall so leaves don't create a blockage. Do a final removal and even hose them out before winter comes. Clogged drains are a major source of ice dams and can lead to big problems
Windows - You have until the end of December to take advantage of the $1,5000 tax credit for new energy-efficient windows
Furnace - Have it cleaned and tune annually
Pipes - Frozen pipes are a nightmare! Make sure water from inside your house to your outside hoses is shut off and drain the lines. You might even wrap and insulate any pipes that are near external walls.
Alarms - Always make sure your smoke and carbon monoxide detectors are working. I want to keep you around long-term as my client and friend!
Saturday, September 4, 2010
Don't Let Negative Press Get you Down!
Lately, it seems the media been running so many negative stories about the housing market. These articles were mostly based on housing sales numbers from July. As you know, the federal tax credits expired the end of June, causing an all time high for closings. So the huge bubble in June caused a natural run down in closings in July and August. The media also neglected to report that prices for the fourth straight month had gone up nationally.
So, lots of negative news from the media, but things look positive from my vantage point. Our Howard Hanna Pepper Pike office is on a roll! When you look at our 2010 activity compared to 2009 -- we are higher in everything--units, volume, higher average prices. For example, average closed price in 2009 was $307,366 but our average YTD is $310, 259. We listed 273 homes at this time last year; 340 this year. And we've closed 269 homes, versus 227 at this time last year. Call me if you need a dose of positive news to offset the depresssing media!
So, lots of negative news from the media, but things look positive from my vantage point. Our Howard Hanna Pepper Pike office is on a roll! When you look at our 2010 activity compared to 2009 -- we are higher in everything--units, volume, higher average prices. For example, average closed price in 2009 was $307,366 but our average YTD is $310, 259. We listed 273 homes at this time last year; 340 this year. And we've closed 269 homes, versus 227 at this time last year. Call me if you need a dose of positive news to offset the depresssing media!
New Real Estate Sales Tax - Fact or Fiction?
Have you heard the rumors of the alleged real estate sales tax, supposedly part of the new health care bill? Word on the street is the new tax will make all real estate transaction subject to a 3.8% sales tax.
Rest assured, this rumor is NOT TRUE! The health care legislation does contain a variety of new taxes and one of them can be influenced under certain circumstances by a sale of real estate. But it's pretty complicated and unlikely to affect most real estate transactions.
Rest assured, this rumor is NOT TRUE! The health care legislation does contain a variety of new taxes and one of them can be influenced under certain circumstances by a sale of real estate. But it's pretty complicated and unlikely to affect most real estate transactions.
Wednesday, May 12, 2010
Home Sales Up!
Have you noticed? Signs of recovery in the housing market and the economy keep popping up! April was an incredibly busy month for home sales...my lack of blogging is evidence of just how crazy things were for me!
The National Association of Realtors reported that pending home sales jumped 8.2% for the month and were 17% higher than they were at the same time last year.
Although the tax credits drove a lot of the activity, we're still bullish on the real estate marketplace. The spring market, relatively low interest rates, and stabilized prices will help the surge continue. Here's hoping...
The National Association of Realtors reported that pending home sales jumped 8.2% for the month and were 17% higher than they were at the same time last year.
Although the tax credits drove a lot of the activity, we're still bullish on the real estate marketplace. The spring market, relatively low interest rates, and stabilized prices will help the surge continue. Here's hoping...
Sunday, April 11, 2010
What's Important to Me
Loving my new real estate career! I am fortunate to have so many wonderful clients who've put their trust in me. Whether it's buyers looking for their new home, or sellers who've asked me to market their biggest asset, I am so grateful!
As much as I love what I do, what's most important to me is my family. Launching a business combined with the CRAZY spring market has left me little time to spend with my husband and children.
A recent vacation to St. Martin was just what we needed. Left the cell phone at home, tried not to check email, and just chilled out. Bonus was sharing a villa with two families that we love dearly! Fun in the sun with my peeps....what could be better?!
Monday, March 1, 2010
Looking for a Good Painter?
Try Bob Siguler of R. Siguler & Son. Bob recently removed wallpaper, repaired walls and painted my Easton Lane listing. He did a fabulous job! He's fast, responsive, reasonably priced, and does quality work. Plus, he's easy to work with.Call him at 440-248-4351 or 216-970-3843 (cell).
Saturday, February 13, 2010
Home Sales Take Big Fat Leap
Good news in the world of real estate. USA Today Money reports that home sales posted strong gains in the fourth quarter and prices rose nearly 45% compared with a year earlier. They see this as evidence of an improving climate in housing. Yippee!
A reason for the gains? Low interest rates and the first-time home buyer tax credit. "There's a growing body of evidence that the housing market has stabilized," says the chief global economist from the Economic Outlook Group. He thinks that these same factors could further stabilize prices and boost sales. Let's hope he's right!
A reason for the gains? Low interest rates and the first-time home buyer tax credit. "There's a growing body of evidence that the housing market has stabilized," says the chief global economist from the Economic Outlook Group. He thinks that these same factors could further stabilize prices and boost sales. Let's hope he's right!
Monday, February 8, 2010
What makes a house sell or sit?
I've often wondered what makes a house SELL or SIT? As a Howard Hanna real estate agent, I tour lots of homes each week. Sometimes they sell, sometimes they don't. Usually it's obvious why a home doesn't sell -- priced too high, bad condition, poor marketing, etc. But sometimes it's a mystery. Take this GREAT house on Bainbrook in my neighborhood (no, it's not my listing!). This house has sold in the past with mutliple offers. It shows very well. It's in great condition and professionally decorated. It has fabulous features like a cool sitting room off the master suite, a huge finished basement, and a nice back yard. I really love this house. And it's price well ($399K, a steal for this neighborhood and this house). And yet, there it has sat for 206 days. These are the ones that make you scratch your head...
(BTW, if you want to find out more about this great house, visit my website at www.MaryFrancesLaGanke@HowardHanna.com and search on MLS #3051641. Or just call me at 216-470-6799 for a personal tour!)
Snowman Building Contest in Our Hood
On a cold, beautiful Saturday in January, about 40 of my neighbors came out for the first ever Bainbrook / Laurel Springs Snowman Building Contest and Winter Party. I sponsored this get-together to meet more of my neighbors and have another family-friend activity in our hood. Prizes were awarded for the biggest snowman and most-creative snowman, and boy was it hard to pick just two winners!
Check out these pics, great snowmen, and fun had by all. We'v decided this will have to be an annual event from now on! Events like these are just one of the reasons I think Bainbrook/Laurel Springs is the best place to live in Cleveland!
Wednesday, February 3, 2010
Moreland Hills Home for Sale
135 Easton Lane, Moreland Hills, $539,000
Check out this sprawling, 4,000 square foot home with 5 bedrooms and 4.5 baths. You'll buy this home for the lot alone -- 3 wooded acres, on the cul de sac. Gorgeous views from every window! This special home features a first-floor master with walk-in closet, granite kitchen, family room with wet bar, a teen or nanny suite on the second floor with a separate entrance, and finished basement. Too many updates and features to mention here! Check out more pics and details on my website (www.MaryFrancesLaGanke.HowardHanna.com) or on its own web page (www.135EastonLn.HowardHanna.com).
Pending Home Sales Improving!
Good news from the National Association of Realtors (NAR)...Pending home sales have leveled from a market swing driven by response to the home buyer tax credit.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in December, increased 1 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1.
In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.
Lawrence Yun, NAR chief economist, says it’s important to recognize how the tax credit is skewing market data.
“There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he says. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels."
December activity was the fifth highest monthly tally in two years.
The Impact of the New Tax Credits
Buyers who have a contract in place to purchase a primary residence by April 30, 2010have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010.
“While new-home sales will remain low due to a lack of construction, existing-home sales are projected to rise to around 5.6 million in 2010,” Yun says. Last year there were 5.16 million existing-home sales.
He added that one of the greatest benefits of rising sales will be firming home prices. “For several months now we’ve been seeing stabilization in all of the home price measures as inventory is pulled down,” Yun says. “As a result, the housing wealth for many middle class families has begun to stabilize.”
(From the NAR website)
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in December, increased 1 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1.
In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.
Lawrence Yun, NAR chief economist, says it’s important to recognize how the tax credit is skewing market data.
“There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he says. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels."
December activity was the fifth highest monthly tally in two years.
The Impact of the New Tax Credits
Buyers who have a contract in place to purchase a primary residence by April 30, 2010have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010.
“While new-home sales will remain low due to a lack of construction, existing-home sales are projected to rise to around 5.6 million in 2010,” Yun says. Last year there were 5.16 million existing-home sales.
He added that one of the greatest benefits of rising sales will be firming home prices. “For several months now we’ve been seeing stabilization in all of the home price measures as inventory is pulled down,” Yun says. “As a result, the housing wealth for many middle class families has begun to stabilize.”
(From the NAR website)
Thursday, January 28, 2010
Realtors Helping Haiti
It seems like realtors always get a bad rap as a greedy, heartless bunch, so I had to point out a recent good deed that might make you think differently.
The National Assocation of Realtors' website reported that the REALTORS® Relief Foundation of the National Association of Realtors® contributed $550,000 to the relief of victims of the Haiti earthquake, and called upon its 1.2 million members to help.
The Foundation's donation is going to the Clinton Bush Haiti Fund which is supporting earthquake recovery efforts with immediate relief and long-term support to earthquake survivors. The fund is headed by former U.S. Presidents Bill Clinton and George W. Bush.
Locally my broker Howard Hanna stepped up and donated a whopping $10,000 to the cause!
How can you help too?
Just SMS text “HAITI” to 90999 to donate $10 to Red Cross relief efforts or call 1-800-4UNICEF to donate to the Clinton Bush Haiti Fund.
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