Westlake Home Sales Report Spring-2015

WESTLAKE OH

2015 HOME SALES REPORTFOR SELLERS, OWNERS & HOME BUYERS

SPRING 2015

EDITION NortheastOhioRealEstateSource.com

Facebook.com/AmazingNortheastOhioHomes

Amazing

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

http://northeastohiorealestatesource.com/

http://facebook.com/AmazingNortheastOhioHomes

CONTENTS

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

1. NATIONAL HOUSING MARKET SUMMARY

2. WESTLAKE OHIO MARKET TRENDS & DATA

Home Prices

Homes Sold

Homes for Sale & New Listings

Market Inventory

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 Real Estate Market Data for Westlake

YTD to May 1, 2015 DATA

This report covers Single Family home sales in the Westlake OH real estate

market. Detailed YTD results are shown in the Appendix. Specific data is

available for any local suburb on request.


U.S. HOME SALES – 1Q 2015 NATIONAL RESULTS

1Q, 2015 NATIONAL HOUSING MARKET TRENDS


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)

NATIONAL HOUSING MARKET TRENDS


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."


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?


WESTLAKE HOME SALES

LOOKING BACK AT 2014 AND WHAT IS AHEAD FOR 2015


2014 vs. 2013

The Westlake real estate market has remained

healthy and has been showing steady annual

increases in average home sale prices the past

three years (since 2011). While prices have

shown consistent gains, the number of homes

sold have been fluctuating, with the number of

Single Family homes sold decreasing 16.3% in

2014 (from 2013). Overall, the key indicators in

the market have been performing much better

than many other areas in Cuyahoga County.

Homeowners who have been waiting for the right

time to sell their current home (or buy a new one),

can utilize this market report data to inform

themselves on current market trends. Nationally

the housing crisis 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, these

trends will affect home sales and prices this year.

This report will focus on the Westlake market with

the national trends and predictions highlighted as

they effect the local market. All Real Estate is

Local... so let’s take a look at what’s happening in

Westlake:

WESTLAKE - HOMES SOLD

2014 Market Summary

The number of Single Family homes sold in 2014

was 251, down from 300 (-16.3%) the year prior.

So far this year, home sales started off slow, but

the current YTD sales are outpacing the same

period last year. The forecast for 2015 is a 2-3%

increase in the number of homes sold as

demand for the Westlake market continues to

increase.

1Q, 2015 Market Summary

So far YTD (up to May, 2015) the number of

Single Family home sold in Westlake is up 30%

from 2014. In April, there were 28 homes sold,

up 100% from March of 2014 (14). In addition,

pending home sales (the leading indicator),

are up 43.5% from the same quarter last year

which indicates a strong upcoming sales

market for 2015. The number of homes

available for sale has finally started increasing.

At the end April, we had 108 single family

homes for sale, up 12.5% from 96 in April 2014.


Westlake – 5YR Single Family Homes Sold

Trend (2009-2014)

Westlake – Single Family

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

2014 Market Summary

The Westlake Single Family average sale prices

rose 2% in 2014 over the prior year (2013). The

average home sale prices have been following a

consistent upward trend since 2011. As shown in

the chart to the right, the average sale price in

2014 was 17% higher than in 2011, when the

market values bottomed. Zillow predicts that

home values in Westlake will rise 2% in 2015.

1Q, 2015 Market Summary

Although up to the 2nd Quarter of 2014, home

prices were heading upward, there has been a

significant decrease the past six months. Home

sale prices have been declining recently, which

has not been the case in many surrounding

suburbs. The Average single family home Sale

Price for the last quarter 2015 is $250,000 down

24.5% from 2014. However, the average Active

List Price is $490,000 down -0.4% from 2014. The

median sale price (most common) was down

only 13%.

WESTLAKE - HOME PRICES


Westlake – 5YR Single Family Home Price

Trend (2009-2014)

Westlake – Single Family Avg For Sale &

Sold Price (last 13 mos)

HOMES FOR SALE AND NEW LISTINGSWestlake – Single Family - Past 5 Years

The number of Homes for Sale has

been declining over the past five

years creating a supply problem and

creating SELLER’S markets in many

suburbs due to tight inventory levels.

In April 2015, there were 108 homes

on the market for sale, compared to

172 five years ago - a 37% decrease.

However, the bottom of the home

inventory appears to have passed at

the end of 2013 and now more homes

are hitting the market. New listings

for 2015 are running close to 2014

numbers.

The current market inventory is

3.9 months which is a Balanced

Market between buyers and sellers

(a Sellers Market is 3 mos or less of

inventory and a Buyers Market is

more than 6 months).


BUYER OR SELLERS MARKET?

MONTHS OF INVENTORY


IMPACT TO A HOME SELLER


MARKET TREND DATA – SURROUNDING SUBURBS

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


http://northeastohioneighborhoodreport.com/


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


SAMPLE

http://northeastohioneighborhoodreport.com/

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.


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.



2015 Expert Real Estate

Market Forecast

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!


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.


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.


http://northeastohiohomevaluation.com/

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.



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.


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


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.


Check out homes for sale at:

AmazingNortheastOhioHomes.com

http://amazingnortheastohiohomes.com/

THINKING OF SELLING?

HERE’S HOW TO INCREASE YOUR HOME SALES PRICE


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.

HOW TO INCREASE YOUR HOME SALES PRICE


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.



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.



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.

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


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.




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.

.


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.




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.


http://123youraddress.com/

http://2883forestlake.com/

SMART HOME SELLER PLAN

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APPENDIX

Westlake Ohio

Real Estate Market Data – to May 1, 2015

April 2015 is a Neutral market! The number of for sale listings was up 12.5% from one year earlier and up 11.3% from the previous month. The

number of sold listings increased 100% year over year and increased 75% month over month. The number of under contract listings was up

11.4% compared to the previous month and up 44.4% compared to the previous year. The Months of Inventory based on Closed Sales is 3.9,

down 43.8% from the previous year.

The Average Sold Price per Square Footage was down 5.5% compared to the previous month and down 11.9% compared to last year. The

Median Sold Price decreased by 8.9% from last month. The Average Sold Price also decreased by 13% 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, an increase of 33.3% compared to the previous year. The ratio of Sold Price vs. Original

List Price is 95%, an increase of 1.1% compared to the previous year.

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

(202) WestlakePublished: May 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)April property sales were 28, up 100% from 14 in April of 2014 and 75%higher than the 16 sales last month.

Current Inventory (For Sale)Versus last year, the total number of homes available this month ishigher by 12 units of 12.5%. This year's bigger inventory means thatbuyers who waited to buy may have bigger selection to choose from.The number of current inventory is up 11.3% compared to the previousmonth.

Property Under Contract (Pended)There was an increase of 11.4% in the pended properties in April, with39 properties versus 35 last month. This month's pended property saleswere 44.4% higher than at this time last year.

All reports are published May 2015, based on data available at the end of April 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.




2007002829






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 April 2015Average Sold Price per Square Footage of $106.4 was down 5.5% from$112.6 last month and down 11.9% from $120.8 in April 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 April 2015 was 104, down 16.1% from 124 days lastmonth and up 33.3% from 78 days in April 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 andup from 1.1% % in April of last year.

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

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





2007002829






The Average For Sale Price is Neutral*The Average For Sale Price in April was $499,000, up 2.9% from$485,000 in April of 2014 and down 1.2% from $505,000 last month.

The Average Sold Price is Neutral*The Average Sold Price in April was $241,000, down 30.1% from$345,000 in April of 2014 and down 13% from $277,000 last month.

The Median Sold Price is Neutral*The Median Sold Price in April was $225,000, down 21.1% from$285,000 in April of 2014 and down 8.9% from $247,000 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 April 2015 Months of Inventory based on Closed Sales of 3.9 wasdecreased by 43.8% compared to last year and down 36.3% comparedto last month. April 2015 is Neutral market.

Months of Inventory based on Pended SalesThe April 2015 Months of Inventory based on Pended Sales of 2.8 wasdecreased by 22.5% compared to last year and the same compared tolast month. April 2015 is Seller's market.





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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 April 2015 Absorption Rate based on Closed Sales of 25.9 wasincreased by 77.5% compared to last year and up 57% compared tolast month.

Absorption Rate based on Pended SalesThe April 2015 Absorption Rate based on Pended Sales of 36.1 wasincreased by 28.4% compared to last year and the same compared tolast month.


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

Documents

Westlake Home Sales Report Spring-2015