Northern Ohio's Hisey Group with Howard Hanna Real Estate Services - Team Update

The Market Today
We've had a great summer season, and hope to continue our momentum into the fall.  Things tend to slow somewhat as the weather cools, but this year the market is staying much warmer than usual.  If you are considering selling give us a call.  There are still more buyers than sellers in today's market place.

Looking for a Realtor for Sandusky, Port Clinton, Marblehead, Oak Harbor and Catawba Area
Our team continues to get leads for this region.  We have agents to cover the islands and Western Sandusky west to Cleveland, but we are coming up short in these areas.  If you are a part-time agent that wants flexibility and can work independently please contact me today at 440-315-6000 or leehisey@howardhanna.com.  We have a steady stream of leads and would like to build in this market area over the next 12 months.  We are increasingly internet based, and plan to continue to increase our resources that allow agents to work on our team from home, coffee shop or their vehicle but still within our state and region's number one brokerage - Howard Hanna.  Grow with us!

Photo and Video Editing - We may be bringing in someone to assist.
We are considering bringing in someone to handle video creation and editing, picture editing and uploading and input to our various websites.  Freelance preferred, but may bring someone in on an hourly basis.  Qualified and interested?  Contact me.  Must have experience with video creation and photo editing.

The Hisey Group with Howard Hanna from Lee Hisey on Vimeo.

We are experiencing exciting changes and are working to continue to provide quality dependable service to our buyers and sellers from "Cleveland to the Lake Erie Islands".  

www.HiseyGroup.com

Before you start a serious search for a new home - Get Pre-Approved. It's free and easy.

Why Getting Pre-Approved Should Be Your First Step

In many markets across the country, the amount of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

1. Capacity: Your current and future ability to make your payments
2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
3. Collateral: The home, or type of home, that you would like to purchase
4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Middle Bass Island, Ohio - Lake Erie Island Gaining in popularity.

We love all of our Great Lakes Islands.  There are approximately 35,000 islands in our Great Lakes, with 34 to 35 islands in Lake Erie depending on the source.  Some of these are very small and many are uninhabited.  Many are also privately owned.

Middle Bass Island holds a special place in our hearts.  With a small town atmosphere and less tourist traffic it has maintained a more low key vibe.  While interest is growing in our island, it still retains a slower pace, an easier going demeanor, and a relaxed atmosphere.

M.B.I. has many wonderful community assets.

• A paved airstrip.  It even has a small heated terminal.  (service from Port Clinton)
• A general store.
• Three eating establishments:
• Uncle Joe's Pizza
• J.F. Walleyes
• St. Hazards
• Regular passenger and vehicle service all season from the mainland.
• Regular passenger only service to and from the village of Put-in-Bay on South Bass Island.
• The Middle Bass Island Yacht Club.
• A world class marina.
• A Lake Erie waterfront campground.

The real estate market is heating up, but prices are still amazingly low for Middle Bass Island property.  Prices are reasonable, and there are numerous options from affordable lakefront condos to stand alone homes.  

Contact me today to discuss your real estate vacation needs along Ohio's Islands, Rivers and Shores!

Lee Hisey, 440-315-6000

leehisey@howardhanna.com

http://www.OhioVacationLand.com
Considering selling?  You found this article, and so do buyers!  Call to list with us today.

The Housing Market is Doing Just Fine

There are some that think that housing affordability is a challenge. Historically, that’s not true. Others think that home prices areapproaching bubble values. If we look back over the last sixteen years, that is also not the case. As a matter of fact, the numbers show that the U.S. residential real estate market is doing just fine.

Here are two articles and excerpts that make this point:

The Housing Market Is Finally Starting to Look Healthy – The NY Times

“It has been an excruciatingly long time coming, but the housing sector in the United States is finally getting healthy. Thank millennials and thank homebuilders who are starting to produce more of the starter houses young people demand.”

Why the U.S. Housing Market Is Good and Getting Even Better – The Street

“Interest rates are so low now that a family can buy the median-priced U.S. home on income of less than $45,000 a year -- about $11,000 less than the median household income. And half of America's houses are cheaper than that.” 

There are those worried that all this positive talk resembles what was being said in 2004 and 2005. Jonathan Smoke, Chief Economist at realtor.com, explains the difference very simply but effectively:

“The havoc during the last cycle was the result of building too many homes and of speculation fueled by loose credit. That’s the exact opposite of what we have today.” (emphasis added) Considering buying or selling?  

Contact me today, Lee Hisey and the Hisey Group w/ Howard Hanna at 440-315-6000 or LeeHisey@howardhanna.com.

Considering selling your Ohio home? Here are 5 Reasons to Sell This Fall.

5 Reasons to Sell This Fall

School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.

Here are five reasons why you should consider selling your house this fall: 

1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007's pace. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler. 

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire. 

That is what is truly important.  Contact me today and let my team go to work for you!  

Lee Hisey, 440-315-6000 or LeeHisey@howardhanna.com