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Page 1: Northeast Ohio Home Sellers Guide

A HOME OWNERS GUIDE TO THE

NORTHEAST OHIO REAL ESTATE MARKET

SPRING 2015

EDITION

Lisa Humenik, RE/MAX Crossroads

N

NortheastOhioRealEstateSource.com

Facebook.com/AmazingNortheastOhioHomes

Amazing

Page 2: Northeast Ohio Home Sellers Guide

Crossroads Properties

Lisa Humenik

About the Author:

LISA HUMENIK, Realtor®, RE/MAX Crossroads

Lisa Humenik is a real estate professional (REALTOR) at RE/MAX

Crossroads Properties helping clients buy and/or sell their home

and find the perfect new place or investment to meet their

needs. Her clients include residential home sellers, investors, and

new and move-up buyers. Home sellers enjoy state-of-the-art

marketing services to assist them in the sale of their home

including internet, video, social media, print, and mobile

marketing to expose their home to the most buyers. Lisa is the

author of the NortheastOhioRealEstateSource.com blog covering

real estate trends in the Northeast Ohio suburbs. Lisa’s Facebook

fan page, AmazingNortheastOhioHomes, has over 1,200 fans.

Lisa has been practicing real estate for over ten years and sells

over 50 homes per year. She also holds a BBA in Marketing and

Quantitative Business Analysis from Cleveland State University.

Lisa can be reached at (440)476-4959 or via email at

[email protected].

RE/MAX Crossroads

Page 3: Northeast Ohio Home Sellers Guide

CONTENTS

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

1. NATIONAL HOUSING MARKET SUMMARY

2. NORTHEAST OHIO MARKET TRENDS & DATA

Home Prices

Homes Sold

Homes for Sale & New Listings

Market Inventory

REO & Short Sale Trends

Market Data by Suburb

3. MORTGAGE RATES

4. 2015 EXPERT MARKET PREDICTIONS

5. SELLING A HOME IN 2015

6. REASONS TO BUY A HOME IN 2015

7. HOW TO INCREASE YOUR SALES PRICE

8. TOP HOME SELLING STRATEGIES FOR 2015

9. SMART HOME SELLERS

APPENDIX Market Summaries for Cuyahoga, Medina, and Lorain

Counties – thru 1Q, 2015 DATA

This report covers Single Family home sales in the Greater Cleveland area real

estate market (Cuyahoga County). Data for Medina and Lorain Counties are

shown in the Appendix. Specific data is available for any local suburb on

request.

Page 4: Northeast Ohio Home Sellers Guide

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

NATIONAL – EXISTING HOME SALES REPORT (3/23/15)

Page 5: Northeast Ohio Home Sellers Guide

1Q, 2015 NATIONAL HOUSING MARKET TRENDS

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

National 1Q, 2015 Market OverviewA just released report, the Health of Housing Market

(HoHM) Report (Nationwide), states the US housing

market is at it’s healthiest levels since the index’s

creation in 2001. The report showed that the 4Q, 2014

ended with the highest indicator score in over 15 years

at a score of 109.8. Employment, demographics, the

mortgage market, and housing prices are all used to

evaluate the health of each market. The report

ranked the top 10 healthiest housing markets and

ranked the Cleveland area on the Top 10 List, as #2.

The most recent Pending Homes Sales Index from the

National Association of Realtors revealed that homes

going into contract in February increased to their

highest level since June 2013. The Pending Home

Sales Index is a leading indicator for the housing

sector, based on pending sales of existing homes. A

sale is listed as pending when the contract has been

signed but the transaction has not closed, though the

sale usually is finalized within one or two months of

signing.

Realtor.com data shows that supply is not keeping

pace with surging demand. The are expecting rising

prices to persuade those who may be on the fence

about listing their homes to do so in the coming

months, leading to closer parity between supply and

demand.” In addition, Fannie Mae's March 2015

Housing Survey, also showed signs of a seller's market.

The percentage of respondents in Fannie Mae's survey

who said they believe now is a good time to sell

reached an all-time survey high of 46 percent.

Source: Business Insider (3/30/2015)

Source: Business Insider (3/30/2015)

Page 6: Northeast Ohio Home Sellers Guide

NATIONAL HOUSING MARKET TRENDS

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

A big reason for the bright outlook for

the housing market is improved job

prospects for those ages 25 to 34,

commonly known as millennials.

Steadily rising rents are also expected

to drive more buyers to the home

market in 2015. Rents have risen by

almost 11 percent over the last three

years and jumped by an average of

about 3.6 percent in 2014 alone.

"Pending sales showed solid gains last

month, driven by a steadily-improving

labor market, mortgage rates hovering

around 4 percent and the likelihood of

more renters looking to hedge against

increasing rents," said Lawrence Yun,

chief economist for the NAR. "These

factors bode well for the prospect of an

uptick in sales in coming months.

However, the underlying obstacle—

especially for first-time buyers—

continues to be the depressed level of

homes available for sale."

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Crossroads Properties

WHERE ARE HOME PRICESHEADING IN THE NEXT FIVE

YEARS?

Real estate and financial professionals put

tremendous value in the Home Price Expectation

Survey. Every quarter, Pulsenomics surveys a

nationwide panel of more than 100 economists,

real estate experts and investment & market

strategists about where prices are headed over the

next five years. They then average the projections

of all 100+ experts into a single number. The results

of their latest survey:

Nationally, values appreciated by 4.8% in 2014

Cumulative appreciation will be 23.5% by 2019

That means the average annual appreciation will

be 3.6% over the next 5 years.

Even the experts making up the most bearish

quartile of the survey still are projecting a

cumulative appreciation of almost 15.1% by 2019.

This survey is a fair depiction of future values.

WHERE ARE HOME PRICES HEADED OVER

THE NEXT 5 YEARS?

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 8: Northeast Ohio Home Sellers Guide

NORTHEAST OHIO REAL HOME SALES

LOOKING BACK AT 2014 AND WHAT IS AHEAD FOR 2015

If you have been watching the local real estate market

in the last few years waiting for things to return to

normal, the time has come. If you have been waiting

for the right time to sell your home (or buy a new one),

this report should guide your on what to look for in the

local Greater Cleveland real estate market this year.

Today, the housing crisis is in the rear window and

many positive trends that began in the last 18 months

have continued with a decline in acceleration.

As we begin the 2015 home selling season, many

important trends have emerged in the local and

national real estate market which will affect home

sales and prices this year. This report will focus on

Northeast Ohio real estate market (primarily Cuyahoga

County west suburbs) with the national results and

trends highlighted as they effect the local market. All

Real Estate is Local... so let’s take a look at what’s

happening in Northeast Ohio!

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

2014 vs. 2013

Page 9: Northeast Ohio Home Sellers Guide

2014 Market Summary

The selling price of area homes has continued to

rise since 2010. In Cuyahoga County, single family

home prices in 2014 were up 2.5% from the prior

year. In June last summer, the average sale

price in Cuyahoga County reached $158,000,

which was the highest level they have reached

in 6 years (since July 2008), up 30% since 2008. All

the key indicators show that 2014 was a year of

continued market recovery.

1Q, 2015 Market Summary

The Average single family home Sale Price for 1Q,

2015 is $130,000 up 4.8% from 1Q, 2014. In

addition, the average List Price is up 9.4% to

$198,000 county wide. The median sale price

(most common) was $107,000 up 4.9% from 2014.

According to Nationwide’s recently unveiled,

Health of Housing Market (HoHM) Report, the US

housing market is at it’s healthiest levels since the

index’s creation in 2001. The Cleveland metro

area was ranked in the top ten in the United

States, ranking at #2!

CUYAHOGA COUNTY - HOME PRICES

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Cuyahoga County – 5YR Single Family

Home Price Trend (2009-2014)

Cuyahoga County – Single Family Avg For

Sale & Sold Price (last 13 mos)

Page 10: Northeast Ohio Home Sellers Guide

CUYAHOGA COUNTY - HOMES SOLD

2014 Market Summary

The number of homes sold in 2014 was down

slightly by 411 homes, or 3.5% overall (versus

2013), but last June had the highest monthly

sales in 5 years. However, the REAL story is

buried in the numbers. The sales of non-distress

homes (non-short sale/REO) were up

dramatically! If you look at home sales

(without short sales), the non-distress home

sales were up 27.5% over 2013. The non-

shortsale inventory also increased 24.5 with

prices remaining neutral. This indicated that

more traditional home sellers have felt

confident selling their homes now that the

market is stabilizing.

1Q, 2015 Market Summary

In March, there were 868 homes sold, up 7.7%

from March of 2014 (806). YTD a total of 2,160

homes have sold up 3.9% from 1Q, 2014 (same

period) last year. However, pending home

sales (the leading indicator), are up 20.3%

which indicates a strong upcoming sales

market for 2015.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Cuyahoga County – 5YR Single Family Homes

Sold Trend (2009-2014)

Cuyahoga County – Single Familyy

Homes For Sale, Sold & Pending (last 13 mos)

Page 11: Northeast Ohio Home Sellers Guide

HOMES FOR SALE AND NEW LISTINGSCuyahoga County – Single Family

Past 5 Years

The number of Homes for Sale has

been declining over the past five

years creating a BIG supply

problem and creating SELLER’S

markets in many suburbs due to

tight inventory levels.

In March 2015, we had 4,359

homes in the market for sale,

compared to 7,839 five years ago -

a 44.4% decrease. Homes for sale

are down 2.3% from the first

quarter, 2014.

New listings for the 1Q, 2015 are

down a moderate 4% from the

same period last year.

The 2015 real estate market is

favorable for sellers looking for a

good sale price for their home this

year.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 12: Northeast Ohio Home Sellers Guide

BUYER OR SELLERS MARKET?

MONTHS OF INVENTORY

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

IMPACT TO A HOME SELLER

Page 13: Northeast Ohio Home Sellers Guide

SHRINKING MARKET INVENTORYCurrent Market Inventory at 5

Months Supply /

Homes for Sale 5 year lows

Months on Inventory is defined as

how many months it would to sell

all the current homes available for

sale. The current market inventory

is 5 months which is a slightly a

Seller’s Market. This is a dramatic

change from several years ago.

However, some suburbs are still

Buyer’s Markets and some Seller’s

markets.

Due to the lack of supply, we are

seeing very tight inventory in

several suburbs (see Suburb

Comparison Chart).

In March 2015, 19.9% of homes on

the market were sold and 36.4%

went under contract.

All real estate is LOCAL - Months of

Inventory for any suburb is

available upon request as the

numbers may differ considerably.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Number of Months of Inventory - Cuyahoga County – Single Family

Page 14: Northeast Ohio Home Sellers Guide

Crossroads Properties

BANK-OWNED (REO) PROPERTIES ON THE MARKET - 5YR TREND

The number of bank-owned (foreclosed and re-claimed) has been steadily

declining since peaking in Spring, 2011. The REO inventory sold in 2014 was less

than half the amount sold during the peak in 2011. In 2015 we have seen the

lowest levels of foreclosure inventory seen in over five years. This decline of

distress sale inventory has been a blessing to local home owners helping

stabilize property values and return price appreciation in many suburbs. The

decline in distress sale inventory is predicted to decline to pre-recession /

normal levels.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Cuyahoga County – Single Family – SOURCE: NEOHREX

Page 15: Northeast Ohio Home Sellers Guide

Crossroads Properties

SHORT SALES – 5 YEAR TREND

Short Sales a thing of the PastThe market inventory of short sale homes (in pre-foreclosure status) peaked in 2012 during the Mortgage Forgiveness Act time period. Similar to REOs there has been a sharp decline in the short sale homes on the market as they have either sold or moved into foreclosure. Today’s inventory of short sale homes is down 48% since peaking in Summer, 2010. In addition, the purging of this inventory has contributed in reducing the decline in REO properties (since they were sold before the bank reclaimed them) helping reduce the bank-owned homes for sale as well.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Cuyahoga County – Single Family – SOURCE: NEOHREX

Page 16: Northeast Ohio Home Sellers Guide

Crossroads Properties

2014 MARKET DATA – SELECT SUBURS

CITY 2014 Homes Sold

(% Change to

2013)

2014 Avg. Sales Price

(% Change to 2013)

YE Mos.

Inventory

TEMPERATURE /

MARKET TRENDS

PARMA 1,047 (+1.2%) $89,869 (+.6%) 5.6 BALANCED. Prices and Home Sales Rising. Decreased distress

sales.

STRONGSVILLE 531 (4.1%) $204,994(-1.1%) 3.3 SELLERS MARKET. Significant increase in homes sold. Price

neutral.

LAKEWOOD 451 (3%) $153,473 (+4.4%) 3.6 SELLERS MARKET. Home sales and prices rising.

BRUNSWICK 433 (-3.8%) $171,331 (+10.3%) 3.7 BALANCED. Prices Rising. Balanced inventory.

AVON 375 (-9.6%) $269,043 (+6.4%) 3.1 BALANCED. Prices Rising. Balanced inventory.

OLM FALLS & TOWNSHP 275 (3.8%) $141.924 (-2.1%) 4.3 BALANCED MARKET. Home sales rising with pricing

remaining nuetral

ROCKY RIVER 260 (-9.4%) $288,787 (-1.2%) 4.0 BALANCED MARKET. Decline in homes sold and prices due

to increase in homes available.

WESTLAKE 251 (-16.3%) $320,422 (+2%) 3.9 TIGHT INVENTORY in some neighborhoods. Decreasing

home sales with prices increasing.

NORTH OLMSTED 214 (-19.1%) $137,078 (+5.7%) 3.5 BALANCED MARKET. Sales declining with reduced distress

sales.

BEREA 212 (+7.1%) $125,356 (+0.3%) 3.7 BALANCED MARKET. Significant increase in homes sold and

moderate price increases.

BROOK PARK 206 (+19.8%) $93,380 (+5.6%) 2.6 WARM MARKET – PRICES RISING AND NUMBER OF HOMES

SOLD

ALL CUYAHOGA

SUBURBS

11,348 (-3.5%) $145,267(2.4%) 5.4 BALANCED MARKET. Slight decline in homes sold with price

appreciation.

If you’d like a instant report showing the current sales and price trends in your local neighborhood..

VISIT:

NortheastOhioNeighborhoodReport.com

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 17: Northeast Ohio Home Sellers Guide

Crossroads Properties

WHAT IS THE MARKET & PRICE TRENDS IN

YOUR NEIGHBORHOOD TODAY?

All Real Estate is Local! What might be

happening to sales and prices in the suburb

next to yours can be different. Although

housing prices and trends are significantly

affected by national and regional trends,

local influences such as jobs, schools, taxes,

and distress sales have a significant impact

on the real estate market.

If you’d like a instant report showing the

current sales and price trends in your local

neighborhood..

VISIT:

http://NortheastOhioNeighborhoodReport.com

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

SAMPLE

Page 18: Northeast Ohio Home Sellers Guide

MORTGAGE RATES OVER TIME

Today’s average mortgage rate is 3.86% and the average House Payment is $939. Today’s

mortgage rates are a bargain as compared to what the have averaged in past years.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 19: Northeast Ohio Home Sellers Guide

WHERE ARE MORTGAGE INTEREST RATES HEADED?

Interest rates are projected to increase steadily over the

course of 2015 The experts predict that home prices will

appreciate by 4.4% over the course of 2015. If both

predictions become reality, families could wind up paying

considerably more for their home by waiting too long.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 20: Northeast Ohio Home Sellers Guide

Crossroads Properties

2015 Expert Real Estate

Market Predictions

1. Millennials will drive household formations. Younger professionals are having more

luck in the job market, which is expected to help more of them jump into home

ownership

2. Existing home sales will increase 5-8% as more buyers enter the market motivated

by a clear belief that both rates and prices will continue to rise.

3. Home prices will rise between 4-5%: Low inventory levels and demand driven by

improved employment opportunities will push home prices up next year.

4. Mortgage rates will end the year at 5% with increases beginning in the middle of

2015

5. Return of the 3 percent down payment. Fannie Mae and Freddie Mac have

announced new programs lowering down payment requirements helping more

buyers.

6. New-home sales rebound. Sales of new homes are expected to rise 25 percent as

single-family construction picks up traction in 2015.

7. Foreclosures recede to pre-recession levels and REO inventory to decline

sharply: The number of foreclosures is expected to continue to fall in 2015, but

possibly be still high in some pocket areas.

8. Rents continue to rise. Growth in U.S. rents will outpace growth in home values by

the end of the year

9. Zillow predicts more homes selection, continued low mortgage rates, coupled

with an increasingly difficult rental environment. These factors will bring balance

to 2015 and result in smoother sailing for everyone in the housing market...2015

could be one of the best years to buy or sell!

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 21: Northeast Ohio Home Sellers Guide

REASONS 2015 IS A GOOD TIME TO SELLAs the temperature rises, buyers are coming out ready to purchase their dream home. The spring is a

great time to list your home for sale. Here are five reasons supporting that.

1. Demand is StrongFoot traffic refers to the number of people out actually physically looking at homes right now. The latest

foot traffic numbers show that there are more prospective purchasers currently looking at homes than at

any other time in the last 12 months which includes last spring’s buyers’ market. 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. Less Competition Housing supply just dropped to 5 months, which is under the 6 months’ supply that is needed for a

normal housing market. This means, in many 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 in the near future. The choices buyers have will continue to increase.

3. The Process Will Be QuickerBanks are requiring more and more paperwork before approving a mortgage. As the market heats up,

banks will be inundated with loan inquiries causing closing timelines to lengthen. Selling now will make

the process quicker & simpler.

4. There Will Never Be a Better Time to Move-UpIf you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to

appreciate by over 19.3% from now to 2019. 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. You can also

lock-in your 30 year housing expense with an interest rate near 4% right now. Rates are projected to

increase by about three quarters of a percent by the end of 2015.

5. It’s Time to Move On with Your Life Goals!Look at the reason you decided to sell in the first place and determine whether it is worth the RISK of

waiting as prices and rates are predicted to increase.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 22: Northeast Ohio Home Sellers Guide

WHAT IS YOUR HOME WORTH NOW?

Find out instantly at:

NortheastOhioHomeValuation.com

You’ll get an instant estimate of your home’s value based on MLS sales. In addition, your report will include a list of neighborhood sales and

current active homes on the market.

Home values have been rising in many (but not all) Northeast Ohio suburbs, leaving some homeowners unsure of the current market value of their home and those in their neighborhood. Below is a new Quick Home Valuation Tool that cross-references your home to comparable sales in your neighborhood to estimate a price your home would sell for if it were to go on the MLS today. This information is used to give you a fair estimate of market value.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 23: Northeast Ohio Home Sellers Guide

REASONS TO CONSIDER BUYING A HOME THIS YEAR

1. Interest rates are low - Even a small change in interest rates has a significant effect on

what you'll pay each month and over the life of a 30-year mortgage. Now that the housing market

has stabilized, more and more homeowners are considering moving up to the home they have

always dreamed of. Prices are still below those of a few years ago and interest rates are still near

4%. Current renters (see below) and moveup sellers alike sellers should realize that waiting to

make the move while mortgage rates are increasing probably doesn’t make sense. As rates

increase, the price of the house you can buy will decrease. Here is a chart detailing this point:

2. Qualifications are easier - During the real estate downturn of the mid-

2000s, banks and lenders tightened the reins, and often only the most qualified

applicants could get approved. Post-recession, qualifications have loosened.

Buyers who can't show solid income and a minimum credit score probably won't

be offered a risky interest-only ARM today, however, those with less-than-perfect

credit and minimal funds still have options. The Federal Housing Association

(FHA) minimums are a 620 credit score and a 3.5 percent down payment.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 24: Northeast Ohio Home Sellers Guide

REASONS TO CONSIDER BUYING A HOME THIS YEAR

3. Rents are High! - In many markets, rents are rising to unsustainable levels, reports the

National Association of Realtors (NAR). "In the past five years, a typical rent rose 15% while the

income of renters grew by only 11%.“. Today buying is 38% cheaper than renting nationwide, and

buying is cheaper than renting in all of the 100 largest metros. In the Cleveland & Akron metro

areas it is 58% cheaper to buy verses rent.

A great resource to compare what is a better choice for financially for a current renter is to visit

Trulia’s online “Rent vs. Buy” Calculator at:

http://www.trulia.com/rent_vs_buy/

Source: http://www.trulia.com/trends/category/rent-vs-buy-index/

Today buying a

home is 38%

cheaper than

renting

nationwide, and

buying is

cheaper than

renting in all of

the 100 largest

metros. In the

Cleveland &

Akron metro

areas it is 58%

cheaper to buy

verses rent.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 25: Northeast Ohio Home Sellers Guide

REASONS TO CONSIDER BUYING A HOME THIS YEAR

4. Private mortgage insurance fees

are down - Buyers who put less than 20

percent down on their home generally

incur a monthly fee in the name of private

mortgage insurance (PMI). In January 2015,

the government announced lower PMI rates

on Federal Housing Administration (FHA)

loans, which equates to a savings of about

$900 a year. Seventy-five dollars a month

may not seem like much, but every little

bit helps when you're committing to an

investment as large as a home.

5. It's still one of the best investments

out there - In fact, some would say it's

the very best investment out there. Buying

a home is the best investment any

individual can make. "The largest

measurable financial benefit to

homeownership is price appreciation," said

Investopedia. "Price appreciation helps

build home equity, which is the difference

between the market price of the house and

the remaining mortgage payments."

6. It feels good - You know that pride of

ownership thing? It's true. Really. Nothing

compares to the feeling of walking into a

home that's yours for the first time. Or

painting the walls a color other than white.

Updating the kitchen. Making it your own.

Not worrying about your rent being raised.

And, of course, watching your equity grow

over time.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Check out homes for sale at:

AmazingNortheastOhioHomes.com

Page 26: Northeast Ohio Home Sellers Guide

THINKING OF SELLING?

HERE’S HOW TO INCREASE YOUR HOME SALES PRICE

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Just by making some minor changes you can drastically improve the selling price of your home.

According to industry data and research from Consumer Reports, home sellers may be able to boost

the value of their home by an additional 12 percent with just a few smart pre-listing repairs and

improvements. The selling price impact is according to a new survey of 300 residential real estate

professionals by the Consumer Reports National Research Center. This information is valuable when

selling your home if you want to put a few extra dollars in your pocket. On a median, single-family

home priced at $205,000, that could be a potential gain of $24,600. On a more expensive home,

the profits will go many times higher.

This month is the start of the hot home selling season, so here is a summary of the highest return

improvements based on the data from the top industry experts and my experience working with

home sellers:

1. Clean up the Clutter – Cost range: $0

(DIY) to $2,500 (pro) – Potential return of 3 to

5%. The best advice here is, Start Packing!

Declutter and depersonalize. One of the best

ways to stage your home for someone else to

imagine living there is to get rid of your

personal stuff. Declutter books, pictures,

knickknacks, and anything else that is

exclusively you. Start removing excess

furniture and items from the walls and

furniture. Put away the extra decorations and

family pictures. Kitchen counters should only

have a few items out for all showings. Know

the “Rule of Three” – Knick knacks- such as

candles, books, lamps, etc – tend to look the

best when placed in a group of three.

Page 27: Northeast Ohio Home Sellers Guide

HOW TO INCREASE YOUR HOME SALES PRICE

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

2. Focus on the Kitchen! - Cost range: $300 to $5,000 –

Potential Return 3 to 7%. Take it from the pros, the kitchen,

more than any other room, sells the home. Over 53 percent of

Realtors will tell you that the kitchen is among the most

important rooms of the home to have looking great before

selling and showing your home. If necessary, make upgrades to

the kitchen. This will depend largely on your budget and the

age and style of the home. New hardware can make a huge

difference for a reasonably small cost. Even small kitchen

improvements will go a long way when selling our home. Limit

counter top items to three – remove extra small appliances (i.e.

toasters, blenders, cookbooks, etc..). Consider removing extra

furnishings – free standing islands, kitchen trolleys and dining

hutches can close in a space. If you cannot remove these

pieces, ruthlessly edit the items displayed on or in them.

3. Create a Beautiful Bathroom Retreat – Cost

range: $300-1,000 – Potential return 2 to 3%. The 2nd most

important rooms for selling your home for the best price is

the bathrooms. First and foremost, make sure everything

is sparkling clean! Remove personal products (tuck away):

Get rid of your ‘stuff’. When selling, clear every surface

of all your day to day care products. Personal items

distracts buyers. Limit counter top decor to a hand towel

and pretty soap dispenser. Make it sparkle: Scrub the tiles

and grout, dust the lights, shine fixtures, and clean

everything. Second, spend a few dollars to get fresh

towels, rugs, and decorations that accent the bathroom

color scheme. New towel racks and shower curtains

should also be purchased if needed. Have your bathroom

look and smell like a spa retreat that any home buyer

would love to enjoy.

Page 28: Northeast Ohio Home Sellers Guide

HOW TO INCREASE YOUR HOME SALES PRICE

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

4. Paint – Paint rooms (where needed) – Cost

range: $100 (DIY) to $1,000 (or more) by a Pro –

return 1 to 3% (or more). From my experience,

I would call paint “Money in a Can”! For very

minimal investment, you a huge return in

boosting your selling price and speed to an

offer. Paint walls in neutral tones. Real estate

experts will tell you to use certain paint colors

to inspire buyers to put in an offer, and often

suggest that sellers repaint their home in these

hues to create a blank canvas for optimal

staging. Four “go-to” Benjamin Moore colors

that work well include: Shaker Beige, Jackson

Tan, Linen White, and Mellow Yellow. (Most

paint stores can do color matches if you don’t

have a Benjamin Moore store near you.)

5. Exterior Fixes & Curb Appeal –Cost range: $150 to $7,500 – Potential

return: 2 to 5%. Now that spring has

sprung, it is a great time to get outside

and spruce up the yard. Put some mulch in

the front and clean up the winter yard

debris. If your home needs a power wash

or some paint touch-ups, now is the time.

As the weather gets warmer, put out some

flower pots and make the entry to your

home look welcoming. Many people

thinking of touring your home will do a

quick drive-by first, often deciding on the

spot if it is even worth a look inside.

Page 29: Northeast Ohio Home Sellers Guide

HOW TO INCREASE YOUR HOME SALES PRICE

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

6. Make your Home “Sparkle” – Cost

range: $0-3,000 – Potential return – “Priceless”.

Clean everything and make it shine! Now’s the

time for a major cleaning from scrubbing floors,

cleaning the carpeting, closets, and more. Add

some aromatherapy to make your home look

and smell fabulous!

Spending a little extra time and a few

extra dollars is a very worthwhile endeavor

to get the best price for your home. Your

home will never look better than the day

your sell it! These extra efforts combined

with a professional marketing strategy

designed to bring in the most qualified

buyers for your home will make your home

selling process more enjoyable and

profitable than you thought it might be.

Page 30: Northeast Ohio Home Sellers Guide

According to data from the National Association of Realtors, 89 percent of buyers use

online tools in their home searches. Rather than waiting for agents to send them listings,

they go online and tell the agents which homes they’d like to see. Here are the top

factors in a successful home online marketing strategy:

1. Professional Photography – “A Picture is Worth A Thousand Words”. Your first

home showing is online, so your home has to win the beauty contest. Great

photographs are probably the single most important piece of any online listing.

Wide-angle Lense Photography of your home is important to make the right first

impression.. It is imperative that your home shows better than others!

TOP HOME SELLING STRATEGIES NEEDED IN 2015

StandardWide Angle

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 31: Northeast Ohio Home Sellers Guide

2. Social Media Marketing - To expand the reach of your home marketing, your

agent should take to social media sites like Facebook, Twitter, LinkedIn, and

Instagram. Paid social media promotion is a important element of a successful

marketing plan. Facebook is approaching Google as having the highest internet

traffic.

Sample promotions include:

- Facebook Fan Page and Realtor Group promotion

Facebook “Promoted Posts” of your home’s listing and Video to targeted home

buyers

- “Just Listed” Anouncement on agent’s Blog, Fan Page, and LinkedIn

- Posts to community SunNews webpages

- Twitter tweet of new listing

- Instagram photos shared on the web

Social proof and sharing by local homeowners and buyers creates a “BUZZ” around

your new listing and home video and can be a magnet to potential buyers.

TOP HOME SELLING STRATEGIES NEEDED IN 2015

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 32: Northeast Ohio Home Sellers Guide

TOP HOME SELLING STRATEGIES NEEDED IN 2015

3. Online Marketing – Vast online presence (especially as a promoted listing)

on the top sites. Most buyers use Zillow, Trulia, Realtor.com, Remax.com, or other

major portals to find the homes they want to see.

Sponsored promotion of your home and SEO on Google make sure more home

buyers see your home is for sale.

.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 33: Northeast Ohio Home Sellers Guide

4. Video Marketing - A video of your home that is taken as a buyer would see your

home when walking thru is the latest tool in real estate home marketing. Buyers are

attracted to video and are much more likely to view the video as opposed to scroll

through screens of pictures of your home. Also, when a buyer calls to see your

home after seeing the video, they are already “pre-sold” and are more likely to be a

qualified buyer for your home. The best videos include narration, music and great

photography highlighting your home’s best features. Video really allows

homebuyers to create that emotional connection.

TOP HOME SELLING STRATEGIES NEEDED IN 2015

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 34: Northeast Ohio Home Sellers Guide

TOP HOME SELLING STRATEGIES NEEDED IN 2015

5. Mobile/Smartphone Presence - Younger buyers especially want to look

at listings on their smartphones, and apps that make it easier for them to

do. All the major portals have apps, as do some real estate brokerages.

Your home’s visual presentation on mobile is more important than ever.

Sellers need to make sure their listing looks great on a smartphone. Photos

should be taken with a high-resolution camera, because that’s what looks

best on mobile. Zillow reported that in January, nearly 600 million homes

were viewed on Zillow’s mobile app. That’s 223 homes per second.

6. Your Home’s Own Unique Website – A dedicated website for our

home will allow your video, pictures, description, and tons of other info to

be showcased in one place. Your home should have its own web address

(URL) which buyers can use to search for your home directly on the

internet, i.e. http://123YourAddress.com. Check out a example at

2883ForestLake.com.

These advanced marketing and home presentation strategies will bring

more buyers in the door and, as a result, a higher sales price. It is

imperative that these are incorporated into a professional home marketing

plan.

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 35: Northeast Ohio Home Sellers Guide

SMART HOME SELLER PLAN

If you are considering selling your home in 2015, check out my Smart Home Seller Plan. The Smart Home Seller Plan is designed to offer clients the most state-of-the art marketing of their home to bring in the highest and best market offers in faster than average market time. In addition, light staging and professional photography will give the professional finishes needed to get top dollar.

The Northeast Ohio real estate market has improved quite a bit in the last year, but all real estate is local right down to your city and neighborhood. A professional pricing assessment of your home, light staging or improvements (if needed), and a highly targeted marketing plan will deliver the results you did not think possible. Plus, a 100% Happiness Guarantee.

Check it out at:

SmartHomeSellerPlan.com

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

Page 36: Northeast Ohio Home Sellers Guide

Lisa Humenik, RE/MAX Crossroads * (440)476-4959* AmazingNortheastOhioHomes.com

APPENDIX

Northeast Ohio

Real Estate Market Data – 1Q, 2015

1. CUYAHOGA COUNTY

2. MEDINA COUNTY

3. LORAIN COUNTY

Page 37: Northeast Ohio Home Sellers Guide

March 2015 is a Neutral market! The number of for sale listings was down 3.5% from one year earlier and up 2.7% from the previous month.

The number of sold listings increased 7.7% year over year and increased 30.5% month over month. The number of under contract listings was up

75.1% compared to the previous month and up 42.9% compared to the previous year. The Months of Inventory based on Closed Sales is 5, down

10.7% from the previous year.

The Average Sold Price per Square Footage was up 14.7% compared to the previous month and up 5.2% compared to last year. The Median

Sold Price increased by 35.4% from last month. The Average Sold Price also increased by 31.3% from last month. Based on the 6 month trend,

the Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Neutral".

The Average Days on Market showed a neutral trend, a decrease of 3.9% compared to the previous year. The ratio of Sold Price vs. Original List

Price is 95%, was the same compared to the previous year.

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

CUYAHOGA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

It is a Neutral Market

Property Sales (Sold)March property sales were 868, up 7.7% from 806 in March of 2014 and30.5% higher than the 665 sales last month.

Current Inventory (For Sale)Versus last year, the total number of homes available this month islower by 158 units of 3.5%. This year's smaller inventory means thatbuyers who waited to buy may have smaller selection to choose from.The number of current inventory is up 2.7% compared to the previousmonth.

Property Under Contract (Pended)There was an increase of 75.1% in the pended properties in March, with1586 properties versus 906 last month. This month's pended propertysales were 42.9% higher than at this time last year.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 38: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

CUYAHOGA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

The Average Sold Price per Square Footage is Neutral*The Average Sold Price per Square Footage is a great indicator for thedirection of property values. Since Median Sold Price and Average SoldPrice can be impacted by the 'mix' of high or low end properties in themarket, the Average Sold Price per Square Footage is a morenormalized indicator on the direction of property values. The March2015 Average Sold Price per Square Footage of $79.5 was up 14.7%from $69.3 last month and up 5.2% from $75.6 in March of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

The Days on Market Shows Neutral Trend*The average Days on Market (DOM) shows how many days theaverage property is on the market before it sells. An upward trend inDOM trends to indicate a move towards more of a Buyer’s market, adownward trend indicates a move towards more of a Seller’s market.The DOM for March 2015 was 99, down 5.7% from 105 days last monthand down 3.9% from 103 days in March of last year.

The Sold/Original List Price Ratio Remains Steady**The Sold Price vs. Original List Price reveals the average amount thatsellers are agreeing to come down from their original list price. Thelower the ratio is below 100% the more of a Buyer’s market exists, aratio at or above 100% indicates more of a Seller’s market. This monthSold Price vs. Original List Price of 95% is the same as last month andthe same as in March of last year.

* Based on 6 month trend – Upward/Downward/Neutral

** Based on 6 month trend – Rising/Falling/Remains Steady

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 39: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

CUYAHOGA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

The Average For Sale Price is Appreciating*The Average For Sale Price in March was $203,000, up 7.4% from$189,000 in March of 2014 and up 2.5% from $198,000 last month.

The Average Sold Price is Neutral*The Average Sold Price in March was $147,000, up 9.7% from$134,000 in March of 2014 and up 31.3% from $112,000 last month.

The Median Sold Price is Neutral*The Median Sold Price in March was $107,000, up 4.9% from $102,000in March of 2014 and up 35.4% from $79,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

It is a Neutral Market*

A comparatively lower Months of Inventory is more beneficial for sellerswhile a higher months of inventory is better for buyers.

*Buyer’s market: more than 6 months of inventory

Seller’s market: less than 3 months of inventory

Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed SalesThe March 2015 Months of Inventory based on Closed Sales of 5 wasdecreased by 10.7% compared to last year and down 21.9% comparedto last month. March 2015 is Neutral market.

Months of Inventory based on Pended SalesThe March 2015 Months of Inventory based on Pended Sales of 2.7was decreased by 34.4% compared to last year and down 42.7%compared to last month. March 2015 is Seller's market.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 40: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

CUYAHOGA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

It is a Neutral Market*

Absorption Rate measures the inverse of Months of Inventory andrepresents how much of the current active listings (as a percentage) arebeing absorbed each month.

*Buyer’s market: 16.67% and below

Seller’s market: 33.33% and above

Neutral market: 16.67% - 33.33%

Absorption Rate based on Closed SalesThe March 2015 Absorption Rate based on Closed Sales of 19.9 wasincreased by 11.8% compared to last year and up 26.8% compared tolast month.

Absorption Rate based on Pended SalesThe March 2015 Absorption Rate based on Pended Sales of 36.4 wasincreased by 48% compared to last year and up 70.7% compared tolast month.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 41: Northeast Ohio Home Sellers Guide

March 2015 is a Neutral market! The number of for sale listings was down 9.4% from one year earlier and up 0.6% from the previous month.

The number of sold listings increased 21.8% year over year and increased 49.5% month over month. The number of under contract listings was

up 63.6% compared to the previous month and up 54.3% compared to the previous year. The Months of Inventory based on Closed Sales is 4.8,

down 24.9% from the previous year.

The Average Sold Price per Square Footage was up 3.7% compared to the previous month and up 4.3% compared to last year. The Median Sold

Price decreased by 2.8% from last month. The Average Sold Price also decreased by 4.8% from last month. Based on the 6 month trend, the

Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Neutral".

The Average Days on Market showed a upward trend, an increase of 14.8% compared to the previous year. The ratio of Sold Price vs. Original

List Price is 96%, was the same compared to the previous year.

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

MEDINA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

It is a Neutral Market

Property Sales (Sold)March property sales were 151, up 21.8% from 124 in March of 2014and 49.5% higher than the 101 sales last month.

Current Inventory (For Sale)Versus last year, the total number of homes available this month islower by 75 units of 9.4%. This year's smaller inventory means thatbuyers who waited to buy may have smaller selection to choose from.The number of current inventory is up 0.6% compared to the previousmonth.

Property Under Contract (Pended)There was an increase of 63.6% in the pended properties in March, with270 properties versus 165 last month. This month's pended propertysales were 54.3% higher than at this time last year.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 42: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

MEDINA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

The Average Sold Price per Square Footage is Neutral*The Average Sold Price per Square Footage is a great indicator for thedirection of property values. Since Median Sold Price and Average SoldPrice can be impacted by the 'mix' of high or low end properties in themarket, the Average Sold Price per Square Footage is a morenormalized indicator on the direction of property values. The March2015 Average Sold Price per Square Footage of $96.2 was up 3.7%from $92.8 last month and up 4.3% from $92.2 in March of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

The Days on Market Shows Upward Trend*The average Days on Market (DOM) shows how many days theaverage property is on the market before it sells. An upward trend inDOM trends to indicate a move towards more of a Buyer’s market, adownward trend indicates a move towards more of a Seller’s market.The DOM for March 2015 was 101, up 2% from 99 days last month andup 14.8% from 88 days in March of last year.

The Sold/Original List Price Ratio Remains Steady**The Sold Price vs. Original List Price reveals the average amount thatsellers are agreeing to come down from their original list price. Thelower the ratio is below 100% the more of a Buyer’s market exists, aratio at or above 100% indicates more of a Seller’s market. This monthSold Price vs. Original List Price of 96% is down 2% % from last monthand the same as in March of last year.

* Based on 6 month trend – Upward/Downward/Neutral

** Based on 6 month trend – Rising/Falling/Remains Steady

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 43: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

MEDINA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

The Average For Sale Price is Appreciating*The Average For Sale Price in March was $295,000, up 11.7% from$264,000 in March of 2014 and up 1.7% from $290,000 last month.

The Average Sold Price is Neutral*The Average Sold Price in March was $197,000, up 11.9% from$176,000 in March of 2014 and down 4.8% from $207,000 last month.

The Median Sold Price is Neutral*The Median Sold Price in March was $175,000, up 6.7% from $164,000in March of 2014 and down 2.8% from $180,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

It is a Neutral Market*

A comparatively lower Months of Inventory is more beneficial for sellerswhile a higher months of inventory is better for buyers.

*Buyer’s market: more than 6 months of inventory

Seller’s market: less than 3 months of inventory

Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed SalesThe March 2015 Months of Inventory based on Closed Sales of 4.8 wasdecreased by 24.9% compared to last year and down 32.4% comparedto last month. March 2015 is Neutral market.

Months of Inventory based on Pended SalesThe March 2015 Months of Inventory based on Pended Sales of 2.7was decreased by 41.7% compared to last year and down 39.1%compared to last month. March 2015 is Seller's market.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 44: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

MEDINA COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

It is a Neutral Market*

Absorption Rate measures the inverse of Months of Inventory andrepresents how much of the current active listings (as a percentage) arebeing absorbed each month.

*Buyer’s market: 16.67% and below

Seller’s market: 33.33% and above

Neutral market: 16.67% - 33.33%

Absorption Rate based on Closed SalesThe March 2015 Absorption Rate based on Closed Sales of 20.9 wasincreased by 34.1% compared to last year and up 48.3% compared tolast month.

Absorption Rate based on Pended SalesThe March 2015 Absorption Rate based on Pended Sales of 37.4 wasincreased by 70.1% compared to last year and up 62.7% compared tolast month.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 45: Northeast Ohio Home Sellers Guide

March 2015 is a Buyer's market! The number of for sale listings was down 1.5% from one year earlier and down 1.2% from the previous month.

The number of sold listings decreased 8.1% year over year and increased 9.1% month over month. The number of under contract listings was up

71.4% compared to the previous month and up 44.2% compared to the previous year. The Months of Inventory based on Closed Sales is 6.2, up

6.9% from the previous year.

The Average Sold Price per Square Footage was down 6.2% compared to the previous month and down 3.4% compared to last year. The Median

Sold Price increased by 14.7% from last month. The Average Sold Price also decreased by 4.8% from last month. Based on the 6 month trend,

the Average Sold Price trend is "Neutral" and the Median Sold Price trend is "Neutral".

The Average Days on Market showed a upward trend, an increase of 7.1% compared to the previous year. The ratio of Sold Price vs. Original List

Price is 97%, an increase of 1% compared to the previous year.

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

LORAIN COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

It is a Buyer's Market

Property Sales (Sold)March property sales were 216, down 8.1% from 235 in March of 2014and 9.1% higher than the 198 sales last month.

Current Inventory (For Sale)Versus last year, the total number of homes available this month islower by 20 units of 1.5%. This year's smaller inventory means thatbuyers who waited to buy may have smaller selection to choose from.The number of current inventory is down 1.2% compared to theprevious month.

Property Under Contract (Pended)There was an increase of 71.4% in the pended properties in March, with408 properties versus 238 last month. This month's pended propertysales were 44.2% higher than at this time last year.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 46: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

LORAIN COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

The Average Sold Price per Square Footage is Neutral*The Average Sold Price per Square Footage is a great indicator for thedirection of property values. Since Median Sold Price and Average SoldPrice can be impacted by the 'mix' of high or low end properties in themarket, the Average Sold Price per Square Footage is a morenormalized indicator on the direction of property values. The March2015 Average Sold Price per Square Footage of $76.7 was down 6.2%from $81.8 last month and down 3.4% from $79.4 in March of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

The Days on Market Shows Upward Trend*The average Days on Market (DOM) shows how many days theaverage property is on the market before it sells. An upward trend inDOM trends to indicate a move towards more of a Buyer’s market, adownward trend indicates a move towards more of a Seller’s market.The DOM for March 2015 was 105, up 1.9% from 103 days last monthand up 7.1% from 98 days in March of last year.

The Sold/Original List Price Ratio Remains Steady**The Sold Price vs. Original List Price reveals the average amount thatsellers are agreeing to come down from their original list price. Thelower the ratio is below 100% the more of a Buyer’s market exists, aratio at or above 100% indicates more of a Seller’s market. This monthSold Price vs. Original List Price of 97% is up 1% % from last monthand up from 1% % in March of last year.

* Based on 6 month trend – Upward/Downward/Neutral

** Based on 6 month trend – Rising/Falling/Remains Steady

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 47: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

LORAIN COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

The Average For Sale Price is Appreciating*The Average For Sale Price in March was $195,000, up 8.3% from$180,000 in March of 2014 and up 3.2% from $189,000 last month.

The Average Sold Price is Neutral*The Average Sold Price in March was $139,000, down 5.4% from$147,000 in March of 2014 and down 4.8% from $146,000 last month.

The Median Sold Price is Neutral*The Median Sold Price in March was $125,000, up 5% from $119,000in March of 2014 and up 14.7% from $109,000 last month.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

It is a Buyer's Market*

A comparatively lower Months of Inventory is more beneficial for sellerswhile a higher months of inventory is better for buyers.

*Buyer’s market: more than 6 months of inventory

Seller’s market: less than 3 months of inventory

Neutral market: 3 – 6 months of inventory

Months of Inventory based on Closed SalesThe March 2015 Months of Inventory based on Closed Sales of 6.2 wasincreased by 6.9% compared to last year and down 8.8% compared tolast month. March 2015 is Buyer's market.

Months of Inventory based on Pended SalesThe March 2015 Months of Inventory based on Pended Sales of 3.3was decreased by 31.2% compared to last year and down 42.2%compared to last month. March 2015 is Neutral market.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 48: Northeast Ohio Home Sellers Guide

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

LORAIN COUNTYPublished: April 2015*

Property Types: Single Family Homes - All Properties - All Properties

Price Range: $0 - No Limit SQFT Range: 0 - No Limit

Bedrooms: 0 - No Limit Full Baths: 0 - No Limit

Half Baths: 0 - No Limit Year Built: 0 - No Limit

It is a Buyer's Market*

Absorption Rate measures the inverse of Months of Inventory andrepresents how much of the current active listings (as a percentage) arebeing absorbed each month.

*Buyer’s market: 16.67% and below

Seller’s market: 33.33% and above

Neutral market: 16.67% - 33.33%

Absorption Rate based on Closed SalesThe March 2015 Absorption Rate based on Closed Sales of 16.1 wasdecreased by 6.9% compared to last year and up 10.3% compared tolast month.

Absorption Rate based on Pended SalesThe March 2015 Absorption Rate based on Pended Sales of 30.5 wasincreased by 46.6% compared to last year and up 73.4% compared tolast month.

All reports are published April 2015, based on data available at the end of March 2015. All reports presented are based on data supplied by NEOHREX. NEOHREX does not guarantee or is not in anyway responsible for its accuracy. Data maintained byNEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Page 49: Northeast Ohio Home Sellers Guide

IF YOU ARE INTERESTED IN SELLING, CONTACT ME

TO DISCUSS YOUR HOME

I’m sure you have questions and concerns…

I would love to talk with you more about what you read here, and help you on the path to

selling your house. My contact information is below. I look forward to hearing from you…

Lisa HumenikRE/MAX Crossroads

[email protected]

NortheastOhioRealEstateSource.com

(440) 476-4959

facebook.com/AmazingNortheastOhioHomes