28 November 2016

WHERE ARE TODAY'S BUYERS SPENDING THEIR TIME? MARKETING REAL ESTATE ON TWITTER, FACEBOOK, GOOGLE+ AND OTHER SOCIAL MEDIA.


We value social media marketing and make it an important part of our marketing mix.  We post only our listings on our pages, and put them in front of our 12,000 plus followers in addition to paid advertising among key markets.
 

If your home isn't in front of internet users on more platforms than just home buyer websites you are missing out on a HUGE market of potential buyers.

% of Online Adults Use:

Facebook  -  79%
Instagram  -  32%
Pinterest  -  31%
LinkedIn  -  29%
Twitter  -  24%


If you are considering selling your home, or if your listing expired and you still want to sell - contact me today at 440-315-6000 or LeeHisey@howardhanna.com.  Let the Hisey Group and Howard Hanna  put the power of social marketing to work for you!


27 November 2016

Properly Priced Northern Ohio Homes Continue to Sell Quickly in Many Markets

Existing Home Sales Surge Forward Through Fall [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
  • First-time homebuyers made up 33% of all sales in October.
  • Homes are selling quickly with 43% of homes on the market for less than a month.
  • A limited supply continues to drive up prices for the 56th consecutive month.

Contact Lee Hisey with the Hisey Group today!
440-315-6000

26 November 2016

How the Hisey Group started and why we have chosen Howard Hanna as our broker.

Today is Small Business Saturday.  How does your Realtor or real estate team fit into this mix?  Our team, Hisey Group llc, is a small business and like other small businesses we appreciate each and every customer.  As a small business each of our customers has an even larger impact on our business than they would for a large company.  Your loyalty makes a difference!

There are many real estate brokers in the U.S.  Many of those conduct business in our North Central Ohio marketplace, and some of them are excellent.  Each broker offers a mix of services for the Realtors that work under their brokerage.

What general types of Realtors/Brokers are there?

  • Partial service:  They may place you on the MLS (multipe listing service - there are many) and offer a couple of other services, but open houses and marketing are up to you.  It's like renting a truck to move yourself.  
  • Mixed service:  They may offer a menu of services.  You can rent your own truck, get some help with just the heavy items, or have them move all of your contents and you just arrive at your new home and everything is already there.
  • Full service:  The broker  handles everything.  They handle your marketing, open houses, signs, all communication and negotiations with buyers and prospects, photography, videos, editing, all paperwork, and the communication and coordination with the title company and other entities involved from city inspections to reminding you that you need insurance in place at close and utilities transferred.  You arrive at your new home and can start unpacking the small stuff.
Our team started with my father working for a small brokerage over 50 years ago.  Gradually the same thing happened to that company as has happened in many industries.  It became a bigger company through mergers, take-overs, and simple growth.  I came into the picture around 11 years ago.  I was a full-time fire lieutenant in a city and also owned a landscaping company.  He suggested I try real estate sales and having been around it since I was a boy I thought - "Why not?".  

When I started we were both working separately at a well respected regional company called Realty One.  It was an excellent company.  That brokerage was taken over and became Realty One Real Living, and that was merged into Howard Hanna Real Estate Services.  

Now when I say we were working at Realty One that isn't really true.  Realtors are not employees of their brokerage.  They are all independent contractors.  They keep their own books, pay their own bills and handle their own marketing.  The brokerage has a marketing program and office space, as well as many other support services but the Realtor you hire pays the brokerage a share of the commission, or the broker pays the agent a share of their commission depending on how you look at it.  All funds must pass through the brokerage to the real estate agent and their team.  

We have what many people would consider an unusual relationship with the other agents in the brokerage we work under.  We refer business to agents in other regions and socialize with other agents in the brokerage.  We help and offer advice to each other.  But we are also competitors.  Howard Hanna dominates many markets because of their outstanding services and brokerage sponsored marketing which makes most of our strongest competitors other Howard Hanna agents.

When you hire a real estate agent you are supporting a small business person.  You may get dramatically different services from agents depending not only on what services they offer, but on what their broker provides.  Some agents only serve a certain neighborhood, others have a team within their brokerage, and others cover a county or region.  Some specialize in condos, others urban living and others vacation property.  Most teams handle a wider spectrum because they can.  Most individuals handle a smaller area because logistically they can't really provide good service over a large area.  One person can only cover so many miles.  Often if you see an individual on a sign, flier or website and they cover a large area they are actually a team fronted by a team leader or owner of a the small business.

We've chosen to have a regional team that covers Cleveland to the Lake Erie Islands.  We hug the shoreline of our beautiful Lake Erie handling North Central Ohio's Island, River and Shore communities as well as communities that abut that area.  It is a fantastic region with a rich and diverse population.  The communities vary dramatically but they all have one thing in common.  Our great lake and the businesses and neighborhoods that surround the rivers and shores.  We also have a team that has team members front and center.  I am now the "Team Coordinator" and may be on the front of more publications, but it is important for us to co-list listings  other team members bring to the table so they can participate and also have their name and number on the sign.  We truly work as a team and offer strive to offer our team members services in addition to those offered by our amazing broker Howard Hanna.  

Howard Hanna is a family owned business that has proven to dominate the areas it moves into with superior marketing, internet presence, and training for it's agents.  We are courted on a regular basis by other brokers and some of them are very good, but we've chosen to remain with the full-service broker who can provide both our team and our clients with the best service in the industry.

If you are thinking about purchasing real estate I hope you will contact us.  If you are considering selling a home, development, land, commercial property, or just want additional information please don't hesitate to contact me at 440-315-6000 or LeeHisey@howardhanna.com.  We proudly serve "Cleveland to the Lake Erie Islands" and other North Central Ohio communities.


23 November 2016

A Lack of Listings Remains 'Huge' Challenge in the Market. Is there a shortage in your neighborhood? It may be a great time to list your Northern Ohio home!

A Lack of Listings Remains ‘Huge’ Challenge in the Market | MyKCM
The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures & short sales) are at their lowest mark in over 8 years. This has been, and will continue to be, a great year for real estate.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. According to the National Association of Realtors (NAR), buyer traffic and demand continues to be the strongest it has been in years. The supply of homes for sale has not kept up with this demand and has driven prices up in many areas as buyers compete for their dream home.
Traditionally, the winter months create a natural slowdown in the market. Jonathan Smoke, Chief Economist at realtor.com, points to low interest rates as one of the many reasons why buyers are still out in force looking for a home of their own.
“Overall, the fundamental trends we have been seeing all year remain solidly in place as we enter the traditionally slower sales season, and pent-up demand remains substantial as buyers seek to get a home under contract while rates remain so low.”
NAR’s Chief Economist, Lawrence Yun, points out that the inventory shortage we are currently experiencing isn’t a new challenge by any means:
"Inventory has been extremely tight all year and is unlikely to improve now that the seasonal decline in listings is about to kick in. Unfortunately, there won't be much relief from new home construction, which continues to be grossly inadequate in relation to demand."

Bottom Line

Healthy labor markets and job growth have created more and more buyers who are not just ready and willing to buy but are also able to. If you are debating whether or not to put your home on the market this year, now is the time to take advantage of the demand in the market.  

Contact the Hisey Group with Howard Hanna today for a free market analysis of your home.  Let us put our team to work for you!  Contact Lee Hisey, Team Coordinator at 440-315-6000 or LeeHisey@howardhanna.com.


21 November 2016

What is PMI? What is it's purpose? How does it change your mortgage payment?

You Can Never Have TMI about PMI | MyKCM
When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase a home with a down payment below 20%, you can never have Too Much Information (TMI)about Private Mortgage Insurance (PMI).

What is Private Mortgage Insurance (PMI)?

Freddie Mac defines PMI as:
“An insurance policy that protects the lender if you are unable to pay your mortgage. It's a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.
Once you've built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”
As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:
“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.” 
According to the National Association of Realtors, the average down payment for all buyers last year was 10%. For first-time buyers, that number dropped to 6%, while repeat buyers put down 14% (no doubt aided by the sale of their home). This just goes to show that for a large number of buyers last year, PMI did not stop them from buying their dream homes.
Here’s an example of the cost of a mortgage on a $200,000 home with a 5% down payment & PMI, compared to a 20% down payment without PMI:
You Can Never Have TMI about PMI | MyKCM

The larger the down payment you can make, the lower your monthly housing cost will be, but Freddie Mac urges you to remember:
“It's no doubt an added cost, but it's enabling you to buy now and begin building equity versus waiting 5 to 10 years to build enough savings for a 20% down payment.”

Bottom Line

If you have questions about whether you should buy now or wait until you’ve saved a larger down payment, let’s get together to discuss our market’s conditions and to help you make the best decision for you and your family.

Contact the Hisey Group with Howard Hanna today at 440-315-6000.  Let's talk, and then put you in touch with one of our mortgage professionals that you can trust.  No cost consultation.

Excited about our new video internet ad campaign: Home...

Home means something different for everyone. from Lee Hisey on Vimeo.

19 November 2016

From Empty Nest to Full House… Multigenerational Families Are Back!

From Empty Nest to Full House… Multigenerational Families Are Back! | MyKCM
Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to a recent Pew Research Center report, the number of multigenerational homes dropped to as low as 12% in 1980 but has shot back up to 19%, roughly 60.6 million people, as recently as 2014.
Multigenerational households typically occur when adult children (over the age of 25) either choose to, or need to, remain living in their parent’s home, and then have children of their own. These households also occur when grandparents join their adult children and grandchildren in their home.
According to the National Association of Realtors’ (NAR) 2016 Profile of Home Buyers and Sellers, 11% of home buyers purchased multigenerational homes last year. The top 3 reasons for purchasing this type of home were:
  • To take care of aging parents (19%)
  • Cost savings (18%, up from 15% last year)
  • Children over the age of 18 moving back home (14%, up from 11% last year)
Donna Butts, Executive Director of Generations United, points out that,
“As the face of America is changing, so are family structures. It shouldn’t be a taboo or looked down upon if grown children are living with their families or older adults are living with their grown children.”
For a long time, nuclear families (a couple and their dependent children) became the accepted norm, but John Graham, co-author of “Together Again: A Creative Guide to Successful Multigenerational Living,”says, “We’re getting back to the way human beings have always lived in – extended families.”
This shift can be attributed to several social changes over the decades. Growing racial and ethnic diversity in the U.S. population helps explain some of the rise in multigenerational living. The Asian and Hispanic populations are more likely to live in multigenerational family households and these two groups are growing rapidly.
Additionally, women are a bit more likely to live in multigenerational conditions than are their male counterparts (20% vs. 18%, respectively). Last but not least, basic economics.
Carmen Multhauf, co-author of the book “Generational Housing: Myth or Mastery for Real Estate,”brings to light the fact that rents and home prices have been skyrocketing in recent years. She says that, “The younger generations have not been able to save,” and often struggle to get good-paying jobs.

Bottom Line

Multigenerational households are making a comeback. While it is a shift from the more common nuclear home, these households might be the answer that many families are looking for as home prices continue to rise in response to a lack of housing inventory.

Considering a change, maybe a larger home?  Contact the Hisey Group today at 440-315-600 or LeeHisey@howardhanna.com.


04 November 2016

Are Millenials Buying Real Estate?

Think All Millennials Live in Their Parent's Basement? Think Again!

Think All Millennials Live in Their Parent's Basement? Think Again! | MyKCM
According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America's youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.
There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials want to move out.
The great news is that not only do millennials want to move out… they are moving out! The National Association of Realtors (NAR) recently released their 2016 Profile of Home Buyers and Sellers in which they revealed that 61% of all first-time homebuyers were millennials in 2015!  
The median age of all first-time buyers in 2015 was 31 years old. 
Here is chart showing the breakdown by age:
Think All Millennials Live in Their Parent's Basement? Think Again! | MyKCM
Many social factors have contributed to millennials waiting to buy their first home. The latest Censusresults show that the median age of Americans at the time of their first marriage has increased significantly over the last 60 years, from 23 for men & 20 for women in 1955, to 29 & 27, respectively, in 2015.
Those who went to college and took out student loans are finally paying them off, as the terms on traditional student loans are 10 years. This means that a large portion of the generation is making its last loan payments and is working toward saving for a first home.
As a whole, the first-time homebuyer share increased to 35% of all buyers, up from 32% in 2014. Not all millennials are first-time buyers, they also made up 12% of all repeat buyers!

Bottom Line

Millennials will continue to drive the housing market next year, as well as in the years to come. As more and more realize that owning a home is within their grasp, they will flock to own their piece of the American Dream. 

Are you ready to buy your first or even second home?  Contact the Hisey Group with Howard Hanna today at 440-315-6000 or LeeHisey@howardhanna.com.  Let us help you make your dream come true!

01 November 2016

Our Amazing Lake Erie Islands

I am privileged to work in such a beautiful area.

I am coming back from our Island office where I spent the last 4 days working.  I am still amazed at the beautiful Lake Erie sunrise over our island's, rivers and shores.

This morning is a perfect fall morning in Northern Ohio!