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Will agents show your listings? A glimpse into NE Ohio’s Competitive MLS

I’ll tell you why our MLS is competitive in one word: VOLUME.

Yesterday I checked the community of Euclid Ohio. There were 683 homes on the market. Rocky River has 240 homes for sale. Lakewood has 376; Cleveland Heights has 666. You get the point. There are a lot of available homes in NE Ohio.

If you are selling your home you will be asking the same question your Realtor® is asking—what can I do to make my listing stand out, and not be the house in the back of the room waving it’s chimney saying ‘pick me, pick me!’

I decided to use myself as an example. I have quite a few buyers at the moment and spend time culling the listings to set up showings.

Here is what I automatically eliminate:

1. Homes with no photos

(In fact, even if they have the primary/exterior photo, unless it’s unique, I skip it unless there are more.)

2. Homes with no room sizes and amenities listed

So it has four bedrooms. What are the sizes? Do they have wood floors, ceiling fans, carpet? If you don’t list it, I say NEXT because there will be, say, 100 others that DO list it.

3. Descriptions

Many Realtors® and brokers give descriptions on REOs and short sale properties, no matter what the listing price. That is as it should be. And in this day and age, if you don’t do that, then I can say…NEXT.

I think you get the idea!

Since almost all of my clients and close to what, 90% of all prospective home buyers are Continue reading this post


Posted by: Carole Cohen on May 5th, 2008 under Guest Bloggers, MLS, Regional

1 Comment »

The State of the NE Ohio Real Estate Market. Is it Boom, Bust, or Something Else?

You can probably guess this, but I vote for ‘something else.’ Before I get to that, let’s do some statistics. Thanks to Mike Wright of our MLS NORMLS system for putting together market stats.

January 2008 saw 5,462 listings on the market in our six county area of NE Ohio. (This includes Medina, Cuyahoga, Lorain, Lake, Geauga and Ashtabula.) This was an 84.1% increase from the same time frame in January 2007.

There were 1,112 homes sold (single family) in January of 2008 in the six county region. That was a 25.5% decline over last year’s figures.

The lowest sale price was $1.000.00 (yes, you are looking at that correctly, that is one thousand). The highest sale price in January 2008 was $1,825,000.00. Overall, sales prices are down about 50%.

The biggest factor, in my opinion, is the rate of foreclosures we are experiencing.

Tie that in with anyone who gets a job transfer and tries to sell a home when they have not owned it for a long period of time and well, they might be in a short sale or foreclosure situation, too.

Some of this is sobering, yes. There are some up sides, however.

The interest rates may be hovering closer to 6% now, but is that still not better than the 14% rates I had as a homeowner in the 80s? And home buyers are finding they have a larger choice of homes available than they would have a few years ago. Continue reading this post


Posted by: Carole Cohen on March 18th, 2008 under Guest Bloggers, Regional


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