Parma Home Sales Report - Spring, 2016

PARMA OHIO

1Q, 2016 YTD HOME SALES REPORT

SPRING 2016

EDITION

N

SPRING 2016

EDITION

NBy Lisa Humenik, Realtor - RE/MAX Crossroads

Facebook.com/AmazingNortheastOhioHomes

Amazing

ParmaMarketReport.com

PARMA OHIO

1Q, 2016 HOME SALES REPORTFOR SELLERS, OWNERS, & HOME BUYERS

Crossroads Properties

Lisa Humenik

About the Author:

LISA HUMENIK, Realtor®, RE/MAX Crossroads

As the Author, I am Lisa Humenik 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. My Facebook fan page,

AmazingNortheastOhioHomes, has over 1,300 fans.

During the past ten years I have sold over 425 homes, including over 100 in the

Parma area. My education credentials include a BBA in Marketing and

Quantitative Business Analysis from Cleveland State University.

If you have any questions regarding this report, or are interested in selling your

home, I can be reached at (440)476-4959 (or via email at

[email protected]).

RE/MAX Crossroads

http://facebook.com/AmazingNortheastOhioHomes

mailto:[email protected]

CONTENTS

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

1. NATIONAL HOUSING MARKET SUMMARY

2. PARMA OHIO MARKET TRENDS & DATA

Home Prices

Homes Sold

Homes for Sale & New Listings

Market Inventory

Market Data for Top Selling Suburbs

3. MORTGAGE RATE TRENDS

4. SELLING A HOME IN 2016

5. REASONS TO BUY A HOME IN 2016

6. HOW TO INCREASE YOUR SALES PRICE

7. TOP HOME MARKETING STRATEGIES FOR 2016

APPENDIX

Parma Ohio Detail Mrket Summary

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

market. In addition, surrounding suburb data is highlighted as well as ntional

trends. Specific data is available for any local suburb on request.


U.S. HOME SALES – NATIONAL HOUSING MARKET

• Nationally 5.26 Million Homes Sold in 2015 making it the BEST year for home sales since 2006

• Home inventory was tight in most markets due to increased demand and lack of new construction

• Days on Market was down to 67 Days but is expected to stabilize (or go up)

• Nationwide, home values remain 6.2 percent below their pre-recession, May 2007 peak. But in 11 of the 35 largest metro markets, median home values have never been higher, having surpassed their recession-era peaks.

• The median price of all existing homes sold in January reached a new all-time high of $230,900, up 1.5 from December and surpassing the pre-crisis peak of $230,600 recorded in October 2005. The median price of existing single-family homes sold reached $233,100, up 1.6 percent from the pre-crisis peak.

NATIONAL HOUSING MARKET 2016 FORECAST

NATIONAL ASSOC. OF REALTORS

2016 REAL ESTATE HOUSING TRENDS TO WATCH


In 2015 it was the strongest year for the housing market since it all but collapsed in 2007. Most

national real estate experts predict that these trends will continue through 2016. With

unemployment steadily declining and consumer confidence still up, people are ready to trade

up for a bigger home and first time home buyers settle into their very first home.

Here are several important trends:

1. It’s becoming more affordable to Buy than Rent - Rent prices have been soaring

across the U.S., and that trend is expected to continue. Vacancy rates are at low levels, as

would-be buyers over the last few years have opted to rent long-term instead of buy. Landlords

and property owners can push the rent up—often to prices that are higher than a mortgage

would cost.

2. Quality Home Inventory is on the rise – There is an increasing number of quality

homes for sale. There are fewer distressed properties on the market, and at the same time

single-family home median sales are expected to continue to climb. This year, buyers will have

a large inventory of quality homes to choose from.

3. The Millennials are coming! - Millennials are officially the largest generation in the U.S.

labor force, and many experts predict that this will be the year that a good portion of them

invest in real estate. In fact, Jonathan Smoke, chief economist for Realtor.com, predicts that

Millennials will buy one out of three homes in 2016, up slightly from last year. Demand for for-

sale housing will grow and will continue to be dominated by older millennials, aged 25 to 34.

This demographic has the potential to claim a third of home sales in 2016 and represent 2

million home purchases.

4. Mortgage rates are likely to increase- In December, the Federal Reserve raised

interest rates, and that is expected to boost mortgage rates. That, of course, will increase

monthly mortgage payments and affect debt-to-income ratio, which will make it harder for

some people, specifically first-time buyers, to afford homes.

5. Normal Price Appreciation -More than 100 economic and housing experts in the latest

Zillow Home Price Expectations Survey pinned home value growth at about 3.5 percent in 2016.

NORTHEAST OHIO REAL HOME SALES TRENDS


During 2015, the number of home sales increased by 10% throughout the Cuyahoga County suburbs with the past quarter prices averaging 8% higher than the same period last year. In 2015, the Southwest suburbs with the strongest price gains were Berea (+23%), Parma (+11%), and Strongsville (+8.5%).

The Zillow 2016 forecast for the Cleveland Metro area is a 2.8% increase in home values and continued sales growth. In several suburbs there is a Seller’s market which is increasing prices and drastically decreasing market time to sell.

The number of days it takes to sell a home has decreased 6% in the Southwest suburbs (above) to 98 days (from 104 in 2014). In the past five years, days on market peaked at 144 days in 2011, so we are seeing homes sell significantly FASTER! With low interest rates and rising prices, it is a great time to sell. So, if you list your home, be ready to get moving!

Home Sales Trends – Parma OH

Home sales in Parma for the 1Q, 2016 are up 24% over the same period

the year prior (1Q, 2015). The BIG NEWS is homes going under contract

for the 1Q, 2016 (Pending) are up 45% over last year. This combined

with 8.5% less homes for sale has been great for home sellers. The

tight inventory is causing prices to rise and competition for the best

homes. New listings have increased 12% over the 1Q 2015 so we may

see price increases to level off this summer. In comparison, in the

Summer of 2011 there were 2.5X the number of homes on the market!

Today Parma is a SELLER’s Market.

Full Chart on the following page.


PARMA 1Q, 2016

HOMES FOR SALE, SOLD, & PENDED

Facts and TrendsTM - Published April 2016*

Location: (401) Parma

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

Lisa HumenikCell Phone: (440)476-4959

Email: [email protected]

http://lisahumenik.com

2007002829

Number of Homes For Sale vs. Sold vs. Pended (Jan. 2015 - Mar. 2016) Prepared for you by: Lisa Humenik, RE/MAXCrossroads

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago TODAY STATS

Mar. 16 Feb. 16 % Change Mar. 16 Mar. 15 % ChangeJan. 16 to

Mar. 16Jan. 15 to

Mar. 15 % Change4/1/2016 -4/27/2016

3/1/2016 -3/27/2016 % Change

For Sale 199 231 -13.9% 199 247 -19.4% 671 733 -8.5% 216 194 11.3%

Sold 88 62 41.9% 88 76 15.8% 218 176 23.9% 85 80 6.3%

Pended 141 111 27% 141 101 39.6% 328 226 45.1% 150 105 42.9%

March 2016 is a Seller's market**

Home For Sale in March 2016 is 199 units. It is down 13.9% compared to the last month and down 19.4% compared to the last year.Home Closed in March 2016 is 88 units. It is up 41.9% compared to the last month and up 15.8% compared to the last year.Home Placed under Contract in March 2016 is 141 units. It is up 27% compared to the last month and up 39.6% compared to the last year.

**Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months ofinventory based on closed sales.

All reports are published April 2016, based on data available at the end of March 2016, except for the today stats. 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 by NEOHREX may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Parma Home Price Trends

The Average single family home SOLD Price for the past quarter is

$92,000 up 4.5% from 1Q, 2015. The average LIST PRICE is up 12%

most likely due to tight inventory and higher seller expectations. The

prices have recovered from lows experienced during the real estate

downturn five years ago. Parma home sales prices up 35% today

from the lows in 2011.

As shown in the chart on the next page, the average sales and list

prices have been in an upward trend over the past year.

PARMA HOME PRICE TRENDS

1Q, YTD 2016











2007002829

Average Price of For Sale and Sold (Jan. 2015 - Mar. 2016) Prepared for you by: Lisa Humenik, RE/MAXCrossroads

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago TODAY STATS

Mar. 16 Feb. 16 % Change Mar. 16 Mar. 15 % ChangeJan. 16 to

Mar. 16Jan. 15 to

Mar. 15 % Change4/1/2016 -4/27/2016

3/1/2016 -3/27/2016 % Change

Avg. ActivePrice 115 114 0.9% 115 102 12.7% 113 101 11.9% 116 116 0%

Avg. SoldPrice 97 88 10.2% 97 91 6.6% 92 88 4.5% 109 94 16%

March 2016 Average For Sale Price is Appreciating**

Average For Sale Price (in thousand) in March 2016 is $115. It is up 0.9% compared to the last month and up 12.7% compared to the lastyear.

March 2016 Average Sold Price is Neutral**

Average Sold Price (in thousand) in March 2016 is $97. It is up 10.2% compared to the last month and up 6.6% compared to the last year.

**Based on 6 month trend - Appreciating/Depreciating/Neutral.


PARMA HOMES FOR SALE & NEW LISTINGS - TRENDS

The number of Homes for Sale has been declining over the past five years creating a

BIG supply problem and creating a SELLER’S market due to tight inventory

levels. The market inventory peaked in Summer 2011 with over 600 homes for sale,

compared to 216 today – down 61% from that time.

New listings for 1Q, 2016 are starting to trend up at 12% higher from the same

period last year. Listing inventory is expected to increase this year due to favorable

market conditions.


PARMA HOMES FOR SALE & NEW LISTINGS

PAST 5 YEARS










2007002829

Number of Homes For Sale vs. New Listing (Last 5 years)

Curnt vs. Prev MonthCurnt vs. Same Month 1

Yr AgoCurnt vs. Same Qtr 1 Yr

AgoCurnt vs. Same Month 5

Yrs AgoCurnt vs. Same 12Months 1 Yr Ago

Curnt vs. Same Qtr 4Yrs Ago

Curnt vs. Same 12Months 4 Yrs Ago TODAY STATS

Mar.16

Feb.16 % Change

Mar.16

Mar.15 % Change

Jan.16 toMar.16

Jan.15 toMar.15 % Change

Mar.16

Mar.11 % Change

Apr.15 toMar.16

Apr.14 toMar.15 % Change

Jan.16 toMar.16


Apr.15 toMar.16


4/1/2016 -4/27/2016

3/1/2016 -3/27/2016 % Change

ForSale 199 231 -13.9% 199 247 -19.4% 671 733 -8.5% 199 510 -61% 3455 3784 -8.7% 671 1203 -44.2% 3455 6074 -43.1% 216 194 11.3%

NewListin

g110 122 -9.8% 110 128 -14.1% 315 282 11.7% 110 132 -16.7% 1456 1325 9.9% 315 318 -0.9% 1456 1329 9.6% 128 86 48.8%


Home For Sale in March 2016 is 199 units. It is down 13.9% compared to the last month and down 19.4% compared to the last year.Home Listed in March 2016 is 110 units. It is down 9.8% compared to the last month and down 14.1% compared to the last year.



Current Parma Market Inventory at 2.5 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. Market inventory peaked in early 2011 and is now below

normal levels. The current market inventory is at 2.5 months which is a Seller’s Market. Hopefully this trend will turn to more balanced levels as buyers are having

difficulty finding homes to purchase.

Parma has the tightest inventory and the greatest price recovery of all southwest

suburbs (see surrounding Suburb Comparison Chart). In March 2016, 44% of homes on the market were sold and 70% went under contract (see Absorption Rate chart in the Appendix.

All real estate is LOCAL - Months of Inventory for any suburb is available upon request as the numbers may differ considerably.


PARMA MARKET INVENTORY

#Months Supply of Homes










2007002829

Months of Inventory Based on Closed Sales (Last 5 years)

Curnt vs. Prev MonthCurnt vs. Same Month 1

Yr AgoCurnt vs. Same Qtr 1 Yr

AgoCurnt vs. Same Month 5

Yrs AgoCurnt vs. Same 12Months 1 Yr Ago

Curnt vs. Same Qtr 4Yrs Ago

Curnt vs. Same 12Months 4 Yrs Ago TODAY STATS

Mar.16

Feb.16 % Change

Mar.16

Mar.15 % Change

Jan.16 toMar.16


Mar.16

Mar.11 % Change

Apr.15 toMar.16


Jan.16 toMar.16


Apr.15 toMar.16


4/1/2016 -4/27/2016

3/1/2016 -3/27/2016 % Change

Months of

Inventory

(Closed

Sales)

2.3 3.7 -37.6% 2.3 3.3 -30.8% 3.1 4.2 -26.4% 2.3 10.2 -77.5% 3.3 4 -17.4% 3.1 8.1 -61.5% 3.3 8.7 -62% 2.5 2.4 4.1%


Months of Inventory based on Closed Sales in March 2016 is 2.3. It is down 37.6% compared to the last month and down 30.8% comparedto the last year.



NEIGHBORHOOD HOMES SALES DATA

1Q-2016 YTD (SINGLE FAMILY HOMES)

SOUTHWEST SUBURBS

CITY CURRENT HOMES FOR SALE

(% TO PRIOR YR)End of April, 2016

MONTHS OF

INVENTORY*(Buyer or Seller’s

Market)

2016 AVG SOLD PRICE

1Q, 2016(% TO PRIOR YR

QTR)

2016 # YTD HOMES

SOLD 1Q, 2016

(% TO PR YR QTR)

MARKET TRENDS

BEREA 48 (-4%) 2.8SELLER’S MARKET

$139,000 (+28.7%) 52 (+15.6%) VERY LOW INVENTORY.

STRONG PRICE APPRECIATION.

BROOK PARK 43 (+16.2%) 3.9SELLER’S MARKET

$98,000 (+10.1%) 48 (+11.6%) LOW INVENTORY. SELLER’S MARKET.

PRICES RISING

MIDDLEBURG HTS 40 (+29%) 4BALANCED

$138,000 (-5.5%) 27 (+22.7%) BALANCED MARKET. INCREASED

INVENTORY.

OLMSTED FALLS / TWNSHP

86 (-11%) 3BALANCED

$118,000 (-18%) 48 (-2%) BALANCED MARKET. PRICE

DEPRECIATION

PARMA 219 (+13%) 2.7SELLER’S MARKET

$92,000 (+4.5%)

218 (+23%) RISING PRICES. SELLER’S MARKET.

NORTH OLMSTED 67 (-7%) 3SELLER’SMARKET

133,000 (+1.5%) 71 (+4.4%) LOW INVENTORY. SELLER’S MARKET.

NORTH ROYALTON 66 (0%) 6BALANCED

MARKET

$199,000(-11.6%)

41 (-2.4%) BALANCED MARKETPRICE

DEPRECIATION

STRONGSVILLE 157 (-12.3%) BALANCEDMARKET

$218,000(+6.3%)

120 (+71%) RISING PRICES AND #HOMES SOLD

ALL CUYAHOGA COUNTY

4,329 (-0.5%)

5.9BALANCED

MARKET

$134,000(+2.3%)

2,553 (+16%)

BALANCED MARKET. PRICE APPRECIATION.

* Months of Inventory ( based on Closed Sales) = the number of properties for sale divided by the number of properties sold. Three

(3) months or less inventory is a Seller’s Market. A Buyer’s Market is greater than 6 months of Inventory. Balanced = 3 < 6 months

inventory.

WHAT IS YOUR HOME WORTH NOW?

Call for a FREE Home Value Estimate and Neighborhood Market Analysis

at

Call (440)476-4959.

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.


WHERE ARE MORTGAGE INTEREST RATES HEADED?

Interest rates are projected to increase steadily over the course of 2016. The experts predict that home prices will appreciate over the course of 2016. If both predictions become reality, families could wind up paying considerably more for their home by waiting. Mortgage rates are expected to gradually increase to slightly below 5% by the end of the year but remain at historically low levels. This year is a great year to make a move because of rising resale values and affordability to purchase.


MORTGAGE RATES OVER TIME

Today’s average mortgage rate is 4.04% and the average House Payment is $959. Today’s

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


Crossroads Properties

WHERE ARE HOME PRICESHEADING IN THE NEXT FIVE

YEARS?


REASONS NOW IS A GOOD TIME FOR SELLERSAs 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.


If you are in the market to Buy a Home and would like to work

together, call me at (440)476-4959 or email [email protected].

RENTS ARE AT ALL TIME HIGHS

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/

KEEPINGCURRENTMATTERS.COM 19

SELLING YOUR HOME?

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 Lens Photography of your home is important to make the right first

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

THINKING OF SELLING YOUR HOME?

TOP HOME MARKETING STRATEGIES NEEDED IN 2016

Standard Wide 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/

THINKING OF SELLING YOUR HOME?

If you are considering selling your home in 2016, 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. Contact Lisa Humenik, Realtor at RE/MAX Crossroads for a FREE Consultation today at (440) 476-4959 or Visit:

SmartHomeSellerPlan.com


Lisa Humenik

RE/MAX Crossroads

[email protected]

AmazingNortheastohioHomes.com

(440)476-4959

Facebook.com/AmazingNortheastOhioHomes

APPENDIX

Parma Market Summary Report

SPRING 2016

EDITION

N

March 2016 is a Seller's market! The number of for sale listings was down 19.4% from one year earlier and down 13.9% from the previous

month. The number of sold listings increased 15.8% year over year and increased 41.9% month over month. The number of under contract

listings was up 27% compared to the previous month and up 39.6% compared to the previous year. The Months of Inventory based on Closed

Sales is 2.3, down 30.8% from the previous year.

The Average Sold Price per Square Footage was up 8.6% compared to the previous month and up 10.1% compared to last year. The Median

Sold Price increased by 11.1% from last month. The Average Sold Price also increased by 10.2% 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, a decrease of 8.5% 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.




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(401) ParmaPublished: April 2016*





It is a Seller's Market

Property Sales (Sold)March property sales were 88, up 15.8% from 76 in March of 2015 and41.9% higher than the 62 sales last month.

Current Inventory (For Sale)Versus last year, the total number of homes available this month islower by 48 units of 19.4%. This year's smaller inventory means thatbuyers who waited to buy may have smaller selection to choose from.The number of current inventory is down 13.9% compared to theprevious month.

Property Under Contract (Pended)There was an increase of 27% in the pended properties in March, with141 properties versus 111 last month. This month's pended propertysales were 39.6% higher than at this time last year.





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The Average Sold Price per Square Footage isAppreciating*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 March2016 Average Sold Price per Square Footage of $76 was up 8.6% from$70 last month and up 10.1% from $69 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 2016 was 86, up 24.6% from 69 days last monthand down 8.5% from 94 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 2.1% % 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





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The Average For Sale Price is Appreciating*The Average For Sale Price in March was $115,000, up 12.7% from$102,000 in March of 2015 and up 0.9% from $114,000 last month.

The Average Sold Price is Neutral*The Average Sold Price in March was $97,000, up 6.6% from $91,000in March of 2015 and up 10.2% from $88,000 last month.

The Median Sold Price is Neutral*The Median Sold Price in March was $90,000, down 1.1% from $91,000in March of 2015 and up 11.1% from $81,000 last month.

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

It is a Seller'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 2016 Months of Inventory based on Closed Sales of 2.3 wasdecreased by 30.8% compared to last year and down 37.6% comparedto last month. March 2016 is Seller's market.

Months of Inventory based on Pended SalesThe March 2016 Months of Inventory based on Pended Sales of 1.4was decreased by 40.9% compared to last year and down 33.6%compared to last month. March 2016 is Seller's market.





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It is a Seller'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 2016 Absorption Rate based on Closed Sales of 44.2 wasincreased by 43.6% compared to last year and up 64.8% compared tolast month.

Absorption Rate based on Pended SalesThe March 2016 Absorption Rate based on Pended Sales of 70.9 wasincreased by 73.4% compared to last year and up 47.4% compared tolast month.


Parma Home Sales Report - Spring, 2016

Real Estate

Transcript of Parma Home Sales Report - Spring, 2016