Real Estate Market Activity for Mentor, OH – 2nd Quarter 2014

Mentor sold for sale 10 7 14

Mentor Sold 10/7/2014

Mentor Months of Inventory 10/7/2014

Mentor Months of Inventory 10/7/2014

The first graph showing market activity on a monthly basis since January 2013 shows that the inventory shortage is starting to subside slightly. Homes ‘For Sale’ in August 2014 is 173 homes which is down 11.3% compared with last month but up 20.1% compared with the same month last year. Homes ‘Closed’ in August 2014 is 35 units which is down 16.7% compared to last month and down 38.6% compared to last year. On the bright side, homes placed under contract (pending) in August of 2014 is 65 units which is up 54.8% compared to last month and up 44/4% compared to last year. For the 3rd quarter of 2014 compared to the 3rd quarter of 2013 homes listed “For Sale” are up 15.2%; homes “Sold” are down 5.9% and homes “Pending” are up 8.2%.

 

The average “List Price” for single family homes in Mentor remains fairly steady over last year at $188,000 while the average “Sale Price” also remains steady at $166,000.

 

The “Months of Inventory” graph illustrates the low-inventory trend line in Mentor. Currently Mentor has a 4.9 month inventory of homes ‘for sale’ which means that at our current sales pace it would take 4.9 months to sell off the current inventory if we didn’t list another home ‘for sale’ in that time period. A ‘normal’ market is a 6-month inventory which means that Mentor is a fairly hot market right now.

 

Interest rates are holding at their historic lows and the overall economy is starting to show some signs of life which certainly help the real estate market. If you’re thinking of selling your home, now is the time. The law of “Supply and Demand” is working in your favor with decreased inventory and high demand. Buyers are out in earnest very early in the year creating a high demand and competition for the available homes. The demand will diminish later in the spring as the early buyers will have purchased already taking them out of the market and competing sellers start to put their homes on the market later in the spring when the flowers start to bloom. Homes listed very early in the year have the advantage and generally sell more quickly and at a higher price.

 

If you have any questions, or are thinking about buyer or selling a home, please call The Crockett Team, Howard Hanna at (440) 974-7444. And remember, whether buying or selling, it’s to your advantage to have the ‘Very Best’ representing your best interests.

Why Choose the Crockett Team, Howard Hanna?

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Choosing the right realtor can be the difference between just getting your home sold (eventually) and getting your home SOLD efficiently and for top dollar.  The Crockett Team, Howard Hanna has developed an efficient, streamlined process to get you home listed properly, marketed to the right buyers and sold.  We are with you every step of the way.  Our proven systems give our buyers and sellers a decided advantage in the market.

Reason #1 Recognized Leader in our Industry

The Crockett Team has built its reputation through a dedication to service. Our Clients, both Sellers and Buyers, benefit from our experience, expertise, and team effort that have given them a decided advantage in the Market

Reason #2 Unique Internet Marketing Plan

The Internet has become one of the most effective marketing tools in the Real Estate Business.  Through the Internet, buyers are able to search for properties that meet their desires and interests.  Your homes first showing is on the internet and our internet marketing plan helps get buyers off their computers and into YOUR home.

Reason #3 Access to Buyer Database:  ClevelandHomeFinder.com

Developed by, and exclusive to, The Crockett Team – ClevelandHomeFinder.com is the favorite search site of buyers looking for homes in our area.  This site allows buyers to enter their parameters and automatically be emailed information on properties meeting their needs.

Reason #4 TheCrockettTeam.com

The Crockett Team website is the main hub of our communication system designed to provide the best real estate information possible.  Rated highly on the major search engines, like Google and Yahoo, the site attracts both buyers and sellers and creates activity in the market.  Our website provides up to date market information, community information, educational videos and home and market analysis tools.

So if you, or anyone you know, is interested in buying or selling a home – give us a call today at 440-974-7444.

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In the market to buy or sell a home? Send us an email to see how we can help.

 

#HHBigEvent – a BIG Success !

SarahThis past weekend Howard Hanna hosted a BIG Open House Event that turned out to be HUGE!  We held many houses open, we sold many houses and we are currently working with many buyers to help find their dream homes.   Thank you to everyone who stopped by one of our open houses this past weekend.  And in case you missed it – we are holding more houses open this Sunday so stop on by.

EIMG_0656Our open houses even drew students who were working on career day projects.  Sarah – a student at Hale Road Elementary in Painesville Township – came out to interview our own Sylvia Luck about what it was like to be a real estate agent today, how she enjoyed her job and what was the favorite part of her job.   Sarah was very thorough with her questions, very polite and very organized – sounds like a future top producing real estate agent to us !EIMG_0659

Thank you, Sarah, for coming out to see us and we look forward to you joining the team – once you are done with school, of course.

The market is continuing to improve and there are alot of qualified buyers looking to make a move.  Interest rates are still historically low so if you are thinking of selling your house – NOW is the time.  Give us a call today at 440-974-7444 for a FREE market evaluation of your home and for a comprehensive marketing plan

 

 

Join us for Howard Hanna’s Biggest Open House Event of the Year – Sunday, April 27, 2014

hh open

Join us on Sunday, April 27, 2014 for Howard Hanna’s bigggest OPEN HOUSE EVENT of the year!  You could even win up to $2,014 in closing costs – JUST by going to a Howard Hanna sponsored open house.  Go to the Howard Hanna website for a complete list of open houses and for an entry form.

Make sure to stop by these open houses sponsored by The Crockett Team:

55 Mentor Avenue, Painesville, Ohio     1:00p.m. – 3:00 p.m.  Sylvia Luck

11780 Jaime Drive, Concord, Ohio   12:00p.m. – 3:00 p.m. Kyle Goudy

10925 Quail Hollow Drive, Concord, Ohio 11:00 a.m. – 12:30 p.m. Kathy Tunquist

8001 Butler Hill Drive, Concord, Ohio 12:00 p.m. – 4:00 p.m. Shannon Gerome

35348 Mondamin Drive, Eastlake, Ohio 3:00 p.m. – 5:00 p.m.  Erin Giannetto

1618 Graham Drive, Silver Lake, Ohio 12:00 p.m. – 2:00 p.m.  Erin Giannetto

“Biggest Open House Event”

Prize Giveaway Rules

Entrants must complete a “register to win” entry form at any of the Howard Hanna open houses from April 26 and April 27, 2014. One entry per person, per open house please.

  • 2 winners (1 winner in Pennsylvania, 1 winner in Midwest) will be selected by random drawing from all entries to win one prize consisting of $2,014.00 to be used towards closing costs. Winner must purchase their home through a Howard Hanna Sales Associate, finance through Howard Hanna Mortgage and close with Barristers Land Abstract or its affiliate completing the sale on or before December 31st, 2014.

No entry fee is required and winner need not be present to win. The winning entrants will be notified by phone/mail within 4 hours of the drawing.

All completed forms must be received by Howard Hanna Real Estate Services at each particular open house before the conclusion of the scheduled event on April 27th, 2014.

Winners will be determined by random drawing to be conducted on or about April 29th, 2014 and winning names will be posted on www.howardhanna.com, Announced on our Sunday Showcase of Homes and shared via our social media channels (Facebook.com/HowardHanna; Twitter.com/HowardHanna). Howard Hanna Real Estate Services will conduct the drawing and their decision is final. No entries will be returned.

All federal, state and local laws and regulations apply. Void where prohibited by law. Winner is responsible for all taxes.

Entrants must be at least 18 years of age. Associates and employees of Howard Hanna Real Estate Services and their families are not eligible.

It’s Always Good to get a Second Opinion!

Second Opinion

When you plan on putting a roof on your home or installing new windows or putting a deck on the back of your house, you always get a second opinion so you get the best deal.  So why wouldn’t you get a second opinion when shopping for a mortgage?

For a limited time, Howard Hanna Real Estate Services is offering an exclusive “Second Opinion” program for pre-approved home buyers.

 “Second Opinion” provides the opportunity for those who have already been approved for a mortgage to meet with a Howard Hanna Mortgage Loan Originator. During this meeting, customer needs will be assessed in order to present a competitive proposal for any pre-qualified buyer. Additionally, all participants will receive a $100 Visa gift card just for meeting with Howard Hanna!

Jim Axner, Director of Mortgage Lending, Howard Hanna Mortgage Services, is pleased to be offering this program to pre-qualified buyers. “So far the program has been well-received and a great success,” said Axner. “People are discovering that meeting with one of our loan officers makes sense because it’s such a big financial decision. They’re grateful that they’ve met with Howard Hanna and many even end up applying with our organization.”

Peter Bauer, Howard Hanna Mortgage Services Sales Manager, finds that his clients benefit when they get another opinion before making their final decision. “We provide a better transaction to the consumer and we know that their time is valuable, so we offer them $100 to better the deal that they may already have,” said Bauer. “Asking for a second opinion from the same company who’s representing you in your real estate transaction is a great idea. Additionally, dealing with someone face to face gives us a chance to highlight our focus on customer service.”

Customers have already been benefiting from this exclusive program.  As always, the best just keeps getting better, much like the case with Joe from Liverpool, OH.  “I considered getting the second opinion, and after I did, I was so glad. Howard Hanna helped me to save almost $10,000,” said Joe. He was quoted 4% from another lender and we were able to get him 3.75%, saving him $9,162 over the life of his loan.

Buying or Selling a Home? The Crockett Team Can Help!

With our proven marketing plan, The Crockett Team has helped hundreds of clients realize their real estate goals – whether they are buying or selling.  The Spring market is picking up and there are plenty of buyers, but housing inventory remains low.  If you are thinking of selling your house – now is the time.  Call The Crockett Team today at 440-974-7444 for a FREE Home Valuation or go to our Home Valuation Page.

Buying or Selling a Home?