Recently, I was introduced to Harrison Park while on a whirlwind buying mission with a young surgeon relocating to Columbus. In my opinion, this little community has it all!
Located near the Short North & Victorian Village, there were 64 single family homes built in 2006 and only four remain (my buyer bought one). Nothing short of amazing in this "down market". There are also flats and luxury lofts to choose from in this trendy urban mecca.
A private clubhouse, fitness center, pool, and a much anticipated 4-acre riverfront park are special amenities available to homeowners. The quality construction is consistent and evident throughout the development. This is one developer who doesn't seem to cut corners!
This is not "paid for" advertising... just a treat to be able to promote something really outstanding in Columbus!
Monday, April 28, 2008
Wednesday, March 26, 2008
CLOSING THE DEAL!
You have just signed a contract to purchase your first home and find there are still several hurdles to jump before "closing the deal". Most offers are contingent on the buyer obtaining financing within a specified period of time and a satisfactory home inspection. In today's market, there is the additional challenge of the home appraising for full purchase price.
The home inspection and the appraisal can open a contract for further negotiations and create added stress on both buyer & seller. The inspection usually takes place within the first 7 to 10 days of the contract with additional time allowed to reach agreement on any necessary remedies requested by the buyer. During purchase price negotiations, sellers often come down to their "bottom line". Inspections create opportunity for further reductions to the seller's net proceeds.
The appraisal is a relatively new challenge to contract negotiations and is increasingly relevant in today's volatile market. The lender will have an appraisal done on the property prior to closing. Buyers are not going to want to pay more than an appraised value for their new home, and lenders are not going to want to provide a loan for the home.
Your real estate agent should be able to provide helpful insights throughout the entire purchase process. The 4forU Team has developed a referral list of reputable home inspectors to assist buyers with property inspections. Additionally, we have the skills necessary to negotiate this element of the contract. A comparable market analysis (CMA) is useful in assisting buyers and sellers with sale & purchase price decisions. A thorough analysis of the market helps insure that there will not be any surprises during the appraisal process.
Looking to learn more about selling or buying a home? Jeanne Gauer, Maggie Chudik, Kelly Cantwell & Susan Sutherland all have the necessary knowledge to help you close the deal!
The home inspection and the appraisal can open a contract for further negotiations and create added stress on both buyer & seller. The inspection usually takes place within the first 7 to 10 days of the contract with additional time allowed to reach agreement on any necessary remedies requested by the buyer. During purchase price negotiations, sellers often come down to their "bottom line". Inspections create opportunity for further reductions to the seller's net proceeds.
The appraisal is a relatively new challenge to contract negotiations and is increasingly relevant in today's volatile market. The lender will have an appraisal done on the property prior to closing. Buyers are not going to want to pay more than an appraised value for their new home, and lenders are not going to want to provide a loan for the home.
Your real estate agent should be able to provide helpful insights throughout the entire purchase process. The 4forU Team has developed a referral list of reputable home inspectors to assist buyers with property inspections. Additionally, we have the skills necessary to negotiate this element of the contract. A comparable market analysis (CMA) is useful in assisting buyers and sellers with sale & purchase price decisions. A thorough analysis of the market helps insure that there will not be any surprises during the appraisal process.
Looking to learn more about selling or buying a home? Jeanne Gauer, Maggie Chudik, Kelly Cantwell & Susan Sutherland all have the necessary knowledge to help you close the deal!
Wednesday, March 5, 2008
Advice on Agency
Recently, I had an experience with Dual Agency that was quite challenging. In most real estate transactions there is an agent representing the seller and an agent representing the buyer. On occasion, there is a gray area called "Dual Agency", where the selling agent is also representing a buyer in the same transaction.
The drama of my particular story unfolded this week when I presented an offer for my buyer to purchase a $740,000 home. At the time our offer was open, I received a call from the listing agent to inform me that there was a second offer being submitted. Coincidentally, she was representing the buyer on this offer. I called my clients, explained the situation, and suggested they consider strengthening their offer if they were interested in purchasing the home. This was their "dream home" so they decided to increase the offer. Again... coincidentally... the listing agent called to tell me that her buyers had also strengthened their offer. The sellers would be reviewing both offers and establishing one as primary and one as secondary. They would then counter both offers.
The counter offer from the sellers placed us in a secondary position - no big surprise! In an effort to level the playing field, I insisted on presenting our best and final offer directly to the sellers. Unfortunately, the listing agent tried to obstruct that request. The sellers were divorcing and in deposition with their attorney so I submitted our offer to the attorney in a sealed envelope to be opened simultaneously with the primary offer.
If all of this sounds confusing, it is! Obviously there are revisions that need to be addressed by the Ohio Board of Realtors to protect buyers in this situation. Until that time, buyers need to be represented by an agent who knows how to negotiate these challenges. My buyers did not get their "dream house", but at least we all know that their final offer was presented properly.
Now we'll see if this home appraises :)
The drama of my particular story unfolded this week when I presented an offer for my buyer to purchase a $740,000 home. At the time our offer was open, I received a call from the listing agent to inform me that there was a second offer being submitted. Coincidentally, she was representing the buyer on this offer. I called my clients, explained the situation, and suggested they consider strengthening their offer if they were interested in purchasing the home. This was their "dream home" so they decided to increase the offer. Again... coincidentally... the listing agent called to tell me that her buyers had also strengthened their offer. The sellers would be reviewing both offers and establishing one as primary and one as secondary. They would then counter both offers.
The counter offer from the sellers placed us in a secondary position - no big surprise! In an effort to level the playing field, I insisted on presenting our best and final offer directly to the sellers. Unfortunately, the listing agent tried to obstruct that request. The sellers were divorcing and in deposition with their attorney so I submitted our offer to the attorney in a sealed envelope to be opened simultaneously with the primary offer.
If all of this sounds confusing, it is! Obviously there are revisions that need to be addressed by the Ohio Board of Realtors to protect buyers in this situation. Until that time, buyers need to be represented by an agent who knows how to negotiate these challenges. My buyers did not get their "dream house", but at least we all know that their final offer was presented properly.
Now we'll see if this home appraises :)
Monday, February 4, 2008
Consumer Needs
A lot of time and money is invested by real estate professionals in an effort to capture the attention of consumers. A quick glance through any neighborhood paper displays countless ads featuring agents promoting themselves. Real estate is an increasingly competitive business and self-promotion is the name of the game.
The people at 1000watt Consulting have put together this clever vox pop to clue us in on what's really important to people looking to buy or sell a home. This business is about relationships, and Realtors have a responsibility to provide expert guidance through very important decisions.
Best advice to buyers & sellers... select an agent that you connect with and trust. This can be a long-term, sometimes emotional, process. It's important that your Realtor be accessable, reliable & caring!
Take a look at this vox pop: http://www.wellcomemat.com/video/6DF8FF1C76
The philosophy of The "4forU" Team is all about service. It is the key to our success and brings each of us a sense of accomplishment. You can contact Jeanne Gauer, Maggie Chudik, Kelly Cantwell or Susan Sutherland with Real Living HER to find about more about what we can do for YOU!
The people at 1000watt Consulting have put together this clever vox pop to clue us in on what's really important to people looking to buy or sell a home. This business is about relationships, and Realtors have a responsibility to provide expert guidance through very important decisions.
Best advice to buyers & sellers... select an agent that you connect with and trust. This can be a long-term, sometimes emotional, process. It's important that your Realtor be accessable, reliable & caring!
Take a look at this vox pop: http://www.wellcomemat.com/video/6DF8FF1C76
The philosophy of The "4forU" Team is all about service. It is the key to our success and brings each of us a sense of accomplishment. You can contact Jeanne Gauer, Maggie Chudik, Kelly Cantwell or Susan Sutherland with Real Living HER to find about more about what we can do for YOU!
Saturday, January 19, 2008
Sign Is Not Enough!
Recently I met with a homeowner whose listing had just expired with another well-established agent. We reviewed different reasons why her home had not sold in the 180 days that it was on the market. Price is always a natural consideration, but a Comparable Market Analysis suggested that they were not too far off the mark. The location was not easy, because this home is in a new build development competing with brand new properties. The interior decor lacked interest, but the floor plan is interesting and could be well staged with minor effort.
Why hadn't this property sold? My best guess is that the "For Sale" sign in the front yard was not enough to promote this property. Although the home was on the market for 6 months, the sign strip still read "New Listing". The photograph of the exterior highlighted the garage. Interior photos showed bland rooms and were poorly taken. There was never a tour for area agents, and there was never an open house. The most disturbing information shared was that the agent never returned phone calls and never checked in with the homeowner.
In today's market, and in ANY market, it is fair to expect certain commitments from your real estate agent.
Why hadn't this property sold? My best guess is that the "For Sale" sign in the front yard was not enough to promote this property. Although the home was on the market for 6 months, the sign strip still read "New Listing". The photograph of the exterior highlighted the garage. Interior photos showed bland rooms and were poorly taken. There was never a tour for area agents, and there was never an open house. The most disturbing information shared was that the agent never returned phone calls and never checked in with the homeowner.
In today's market, and in ANY market, it is fair to expect certain commitments from your real estate agent.
- Provide a comprehensive Comparable Market Analysis to help establish a fair price.
- Review the strategic marketing plan to promote property to area real estate professionals and potential buyers.
- Assist with the review of exterior appeal & interior staging.
- Photograph exterior & interior for publication in MLS, Internet & print ads.
- Coordinate showings & provide feedback.
- COMMUNICATION!
Successful marketing of a home is a collaborative effort between the homeowner and agent. Take the time to interview an agent before you allow them to just put a sign in your yard!
Monday, November 19, 2007
Stylish Urban/Suburban Living
Several years ago, I grudgingly returned from Denver, Colorado to Columbus, Ohio. I renovated our home, enrolled the children in school and returned to Hondros College to renew my real estate license. I grew up around construction and real estate, and it has been a nice transition to rejoin my mother, Jeanne Gauer, and our partners, Maggie Chudik & Susan Sutherland in this "4forU" venture.
Our team of four live in different parts of Columbus and bring different perspectives to the business of real estate. This blog presents an opportunity for each of us to share our observations, experiences & knowledge. Please feel free to respond with your thoughts and/or questions!
Today our team hit the streets of Columbus to preview some hot new options in condominium living. Along with downtown developments, communities like Upper Arlington, Clintonville, Grandview & Bexley are looking to provide options for a more carefree lifestyle. The appeal of this stylish living crosses age boundaries and is attracting young singles and seniors.
4forU Favorites
Arlington Crossing is located on Tremont Road in the heart of Upper Arlington. Featuring 56 luxury units, it is the creation of Long & Wilcox. Prices range from mid-$300s to high-$600s. These mid-rise condominiums have transformed the landscape and created a bit of a stir. In our opinion the finishes are superior and the amenities appealing. Hopefully, Kingsdale Shopping Center will get a boost from Regency and compliment this dynamic residential development.
Terraces on Walhalla have unveiled their plans and groundbreaking is scheduled for early '08. Located at 3040 North High Street, residents of these 20 units will have the proximity to OSU and downtown while enjoying the picturesque surroundings of Walhalla ravine. Developed by Meyers Welsh Architecture, there will be one, two & three bedroom units available starting at $199,900.
Burnham Square is a favorite for those looking in the Arena District and the views of the Columbus skyline and Scioto River are spectacular! What a success story!
The Buggyworks, "an urban village", is loaded with charm. The first phase has sold out, and the second phase has been introduced. These unique loft style condominiums are co-mingled with office and retail boutiques. Definitely worth a look!
Other developments of note:
1200 Grandview
Bexley Gateway
Let us know what you think...
Have you looked at any of these condominiums?
Do you like the concept?
Stay tuned!!!
Our team of four live in different parts of Columbus and bring different perspectives to the business of real estate. This blog presents an opportunity for each of us to share our observations, experiences & knowledge. Please feel free to respond with your thoughts and/or questions!
Today our team hit the streets of Columbus to preview some hot new options in condominium living. Along with downtown developments, communities like Upper Arlington, Clintonville, Grandview & Bexley are looking to provide options for a more carefree lifestyle. The appeal of this stylish living crosses age boundaries and is attracting young singles and seniors.
4forU Favorites
Arlington Crossing is located on Tremont Road in the heart of Upper Arlington. Featuring 56 luxury units, it is the creation of Long & Wilcox. Prices range from mid-$300s to high-$600s. These mid-rise condominiums have transformed the landscape and created a bit of a stir. In our opinion the finishes are superior and the amenities appealing. Hopefully, Kingsdale Shopping Center will get a boost from Regency and compliment this dynamic residential development.
Terraces on Walhalla have unveiled their plans and groundbreaking is scheduled for early '08. Located at 3040 North High Street, residents of these 20 units will have the proximity to OSU and downtown while enjoying the picturesque surroundings of Walhalla ravine. Developed by Meyers Welsh Architecture, there will be one, two & three bedroom units available starting at $199,900.
Burnham Square is a favorite for those looking in the Arena District and the views of the Columbus skyline and Scioto River are spectacular! What a success story!
The Buggyworks, "an urban village", is loaded with charm. The first phase has sold out, and the second phase has been introduced. These unique loft style condominiums are co-mingled with office and retail boutiques. Definitely worth a look!
Other developments of note:
1200 Grandview
Bexley Gateway
Let us know what you think...
Have you looked at any of these condominiums?
Do you like the concept?
Stay tuned!!!
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