Cincinnati Realtor® Tilts Odds at Appraisal Time

It may be a fundamental element in nearly two-thirds of every residential real estate transaction, yet when you think about buying or selling a Downtown Cincy home, it’s not likely to be your major focus. Important though it may be, for most people, the appraisal process seems like a mere formality. After all, haven’t the seller and buyer already agreed to the deal? What’s left to do, other than dot the I’s and cross the T’s?

Of course, if you are a cash buyer, you can choose to skip the appraisal altogether. If so, congrats - you are ready to buy as soon as you find the right property! But for the rest of us, if a loan is involved, so too is the lender’s appraisal – or appraisals.  Yet many real estate agents are not a part of this element.

The entire transaction hinges upon its success because the lender needs assurance that the property has at least the agreed value. If the home doesn’t comp out, the bank will not fund the loan.

When it comes to the appraisal, I will admit to being one Realtor who favors the proactive approach. One way to help assure the right outcome at appraisal time is for your Realtor to meet the appraiser at the property -- armed with a package of comparables that support the agreed-upon price. Most appraisers may have uncovered the same comps already, but that’s not always the case. If my seller has completed upgrades or improvements, I also like to bring proof to help justify a higher price. Making the appraiser’s job easier is an important part of a Realtor’s job.  

As a trusted Realtor in Downtown Cincy, I’ve found that taking an active role during appraisal is an important way to protect my client’s interests. It’s a commitment I make to help insure that each and every closing finishes as planned.  If this winter finds you looking for a Cincinnati Realtor who will be by your side from start to finish -- drop me an email, or give me a call!

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Real Estate Forecasters See Home Loan Leap

The holiday décor is down; neighborhood kids are back in school; January’s social calendar looks amazingly clear (compared with the previous two months, anyway)… so, what now?  One suggestion I might offer: put some serious thought into acting on those financial New Year’s resolutions – at least the ones dealing with your Cincinnati real estate plans.

Doing so would dovetail nicely with my own New Year’s prediction, one I share with many credible real estate watchers: 

2013 is the year buyers and sellers are going to really get serious about real estate.

According to Money Magazine on CNN’s website, the housing market rebound is here. Among other sources, they site the Mortgage Bankers Association forecast that “more and more house hunters will start coming off the sidelines.” They expect total dollars going to new home loans to jump a heart-thumping 55%!

For five years, Cincinnati homeowners weathered the storm of the credit crisis as well as could be expected; then came marked improvement in 2012.  At last count, there were approximately 1.8 million homes for sale nationwide (half the number at the market’s deepest divot).  

While no one expects real estate prices to see crazy red-hot double-digit increases in 2013, it is encouraging to see the worst in the rear-view mirror.  And with optimism about residential real estate now broadening into general public awareness, we seem to be looking at a fresh arena for homeowners who are finally able to consider selling again…and for buyers who are past waiting for ‘the bottom’.  

The message to prospective Downtown Cincinnati home buyers and sellers this January echoes the sentiment of Money magazine, which answered the question, “Why, as a prospective home seller or buyer, you need to stop sitting on your hands”! 

Whether or not your own New Year’s resolutions involve Downtown Cincinnati real estate, it is a propitious time to give me a call. We can start the conversation about your real estate goals and how current 2013 market opportunities fit them!

Seasonal Mood Elevators Brighten Downtown Cincinnati Spirits

As fall becomes early winter, the crisp air, festive celebrations and holiday spirit do their job of gladdening Downtown Cincinnati hearts. However, after the eggnog bowl disappears -- once January rolls around and the holiday decorations go into cartons -- it’s common to feel varying degrees of the ‘winter blues.’ 

Actually, the experts call that Seasonal Affective Disorder, but since the acronym is ‘SAD,’ I prefer ‘winter blues.’  For anybody who’s been feeling a little down, particularly if you have a Downtown Cincinnati property that’s been on the market without attracting much activity, this is a good time to take a moment to bring back some cheer to your property!

The quickest spirit-elevator is to simply lay out colorful pillows, throws, or little details like punchy candles or tablecloths. Then roll up the shades during the day to let in more light  – and not only when your property is scheduled for a showing (drive-by prospects are put off by a shuttered-looking house).  

Feeling trapped indoors?  Consider using that extra indoor time to de-clutter your property -- just a little freshening up really does lift spirits. If these short daylight hours are getting you down, see if switching one or two lamps over to "full spectrum" light bulbs has an effect.  They mimic natural light; for some people, they affect mood in the same way that natural sunlight does. You can also experiment with a sunlamp specifically designed to help those with more pronounced seasonal sensitivity.  

Finally, if the winter blues threaten (and a Caribbean vacation is out of the question), why not simply embrace the season?   Bundle up, get outside, and connect with nature, especially on those glorious windless Cincy days when the sun is shining. 

But what to do when it’s cold, dark, and damp? I know that days like that remind me to be grateful for clothes that keep me warm, a warm bed to sleep in, and a safe property to house the family. They also make me really appreciate the warm ones!  

Have a Downtown Cincinnati property question?  I’m standing by all winter long with answers. Call anytime!