CJ's Blog

What is a BPO?: Strongsville Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 19:20:47 -0500

Posted by: CJ Harrington

Date: 08/31/08

BPO stands for Broker Price Opinion. For many agents this is a completely new and foreign term. Honestly, many brokers, agents, appraisers or members of the general public know about.

Technically speaking, a Broker Price Opinion report is an opinion of value that is conducted by real estate professionals or appraiser to determine the estimated current market value of a property. A typical BPO form is a few pages, which is either an exterior or interior inspection. This is seen within the valuation industry as an option to a full appraisal report.

Some of the reasons lending institutions will ask that a Broker Price Opinion be done on a property are: refinancing loans, home equity loans and lines of credit. This gives everyone choices so they do not have to pay for a full appraisal.

Also, some BPO's are used to these same institutions determine the Current Market Value, for a property that they are financing to help determine if a property should go into pre-foreclosure or foreclosure.

I hope this helps educate....

For More Information!

Check Out Our Website:

www.cjharrington.com

For FREE Buyer AND Seller Reports!

Or call my cell phone at 440.336.0612.

Housing slump has Realtors rethinking their career choice: Strongsville Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 18:48:08 -0500

Posted by: CJ Harrington

Date: 08/31/08

The number of real estate agents has dropped in recently, but not as quickly as the sales of homes. This has left longtime pros wondering whether too many salespeople are chasing too few dollars.

If some agents only plan on making a few sales per year, it really takes away from those who work full time. So, the question becomes, should those who are not doing well, pull out?

Some agents have left since real estate sales went into hibernation last year. According to statistics, about 1000 salespeople have left statewide in the past 10 months.

Still, this statistic may overrepresent the reductions because a few people are still renewing their licenses several months after the official deadline, and license-renewal numbers are actually up. This means losses are coming mostly in potential new agents who decided against joining the real estate industry.

Likely, if the real estate slump continues for another year more agents will quit. Still, many people are willing to give the business another year in hopes of a turnaround. And those who do will begin to receive a higher market share for the future.

The costs associated with opening a real-estate business are much less than in other fields and required education is much lower, unfortunately this means anyone can get into the field. Furthermore, a field which should be as valued or more valued as your stock broker is not respected. This has been making a professional industry very unprofessional.

I reality if you don't get a return on your hours, you are losing money. Yet, spouses have supported small time realtors and in a good market this does not seem to matter. Yet, even though hard times are faced by good realtors too, if these agents face change, better themselves, and stick to it, they will soon see the benefit.

For More Information!

Check Out Our Website:

www.cjharrington.com

For FREE Buyer AND Seller Reports!

Or call my cell phone at 440.336.0612.

Steps in The Closing Process: Strongsville Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 17:14:42 -0500

Posted by: CJ Harrington

Date: 08/30/08

So what is really involved in sealing the deal on you next home.

The Offer

Even though not every guaranteed to be accepted by the seller. Yet once you find your perfect house, it is wise to move fast. Since, someone else is likely to think this same home is a great buy. Often 10% below asking is the place to begin, because it gives you some room to negotiate. Still, do not top what you have predetermined to be the highest price you can afford.

The Earnest Money Deposit

This is a demonstration of good faith and commitment by the buyer to the seller. It is usually 1 percent of the home's purchase price and is usually put towards the down payment. The earnest money deposit is put into a 0% brokerage trust account upon acceptance and is removed at closing. Still, if you decide not to close on a deal once your offer has been accepted for un reasonable circumstances, you may lose your deposit and be sued for damages. Also, if the seller does not accept your offer, your deposit will be returned.

Contingencies

Contingencies are certain requirements specified in a contract that need to be met before the buyer is required to close. These typically include: the buyer's securing of financing and a home inspection. Generally, an inspection contingency covers a 10 to 14 day period from the acceptance of the contract, and financing contingencies run for 30 days on average.

Home Inspection

During a home inspection, a professional conducts a thorough examination of the property to assess structural and mechanical issues. The idea here is that a home inspector will be able to catch potential problems that a buyer might not detect.

Contract

Upon the acceptance of an offer by the seller, and it becomes a legal and binding obligation on the part of the buyer to purchase the property if any contingencies are met. It outlines the details of the transaction ncluding: a description of the property, the selling price, the date of closing, the possession date and applicable contingencies.

Settlement sheet

Usually called a closing statement or settlement statement, a document that the Department of Housing and Urban Development (HUD) requires, which accounts for all financial aspects surrounding the sale and purchase of a home. It provides a detailed list of the funds paid at closing. These include real estate commissions and initial escrow amounts. The Real Estate Settlement Procedures Act (RESPA) requires that a copy of the settlement sheet is distributed to both parties around one day prior to settlement.

Closing Documentation

Before you can close on a house, some paperwork is necessary. This includes a title search which makes sure the title is clear, title insurance to protect the buyer and the lender from any oversight and an application for homeowner's insurance.

Closing costs

Closing costs vary, but generally include: a loan origination fee, an appraisal fee, the cost of a credit report, a lender's inspection fee, the cost of title insurance, a mortgage broker fee, taxes and a fee for document preparation. Your lender is required to give you a good faith estimate which is a notice of fees associated with your loan.

Final arrangements

Before the deal is closed and you take possession, you must make arrangements regarding utility service and first mortgage payment.

Settlement

Settlement invoves payment of the balance of the purchase price the buyer owes on the property, and the transfer of the title. It takes place on the possession date.

For More Information!

Check Out Our Website:

www.cjharrington.com

For FREE Buyer AND Seller Reports!

Or call my cell phone at 440.336.0612.

RELISTED...9619 Kingston Trail : Olmsted Falls Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 16:05:25 -0500

C J Harrington | Keller Williams Realty | cjharrington.crs@gmail.com | 440-336-0612

9619 Kingston Trail, Olmsted Township, OH

9619 Kingston Trail Woodgate Farms: Olmsted Township Real Estate

4BR/2.5BA Single Family House

$1,750/month

Bedrooms	4
Bathrooms	2 full, 1 partial
Sq Footage	2,922
Parking	3 dedicated
Pet Policy	No pets
Deposit	$5,565

DESCRIPTION

2005 model with upgrades. Open plan. 2 story foyer with hardwood flooring. Kitchen with an island, wood flooring and stainless appliances. Formal Living and Dining Rooms. 19x12 Sun-room with wood flooring. 1st floor den. 1st floor laundry room.Neutral decor. Great home for entertaining. Full basement. 3 car side load Garage. Neighborhood amenities: Common Facility, outdoor pool and playground.
For more information call:The CJ HARRINGTON Home Selling TEAM at 440-336-0612, email at cjharrington.crs@gmail.com or visit cjharrington.com

see additional photos below

RENTAL FEATURES

Air conditioning	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Family room	Living room	Bonus/Rec room
Office/Den	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Microwave	Stainless steel appliances	Basement
Washer	Dryer	Laundry area - inside
Yard

COMMUNITY FEATURES

Guest parking	Clubhouse	Swimming pool(s)
Playground

LEASE TERMS

1st, last, security and rec fee

ADDITIONAL PHOTOS

Renter contact info:

C J Harrington

Keller Williams Realty

cjharrington.crs@gmail.com

440-336-0612

Equal Opportunity Housing

Posted: Aug 21, 2008, 2:01pm PDT

SOLD...1561/1563 Warren: Lakewood Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 16:01:42 -0500

C J Harrington | Keller Williams Realty | cjharrington.crs@gmail.com | 440-336-0612

1561/1563 Warren, Strongsville, OH

1561/1563 Warren:Lakewood Real Estate

4BR/2BA Multi-Family, 2 units

offered at $74,900

Year Built	1919
Sq Footage	1,800
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	0 sqft
HOA/Maint	$0 per month

DESCRIPTION

Newer windows and garage doors. Newer kitchen cabinets and paint in first floor suite. Easy access to bus line and walking distance to downtown Lakewood. For more information call: The CJ HARRINGTON Home Selling TEAM at 440-336-0612, email at cjharrington.crs@gmail.com or visit cjharrington.com

see additional photos below

PROPERTY FEATURES

Central heat

Basement

ADDITIONAL PHOTOS

Seller contact info:

C J Harrington

Keller Williams Realty

cjharrington.crs@gmail.com

440-336-0612

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 21, 2008, 2:28pm PDT

33700 Maple Ridge Blvd: Avon Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 15:59:02 -0500

C J Harrington | Keller Williams Realty | cjharrington.crs@gmail.com | 440-336-0612

33700 Maple Ridge Blvd, Avon, OH

33700 Maple Ridge Blvd:Avon Real Estate

2BR/1BA Single Family House

offered at $100,000

Year Built	1956
Sq Footage	1,345
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	14,287 sqft
HOA/Maint	$0 per month

DESCRIPTION

Short Sale! For more information call: The CJ HARRINGTON Home Selling TEAM at 440-336-0612, email cjharrington.crs@gmail.com or visit cjharrington.com

see additional photos below

PROPERTY FEATURES

Central A/C

Central heat

Fireplace

ADDITIONAL PHOTOS

Seller contact info:

C J Harrington

Keller Williams Realty

cjharrington.crs@gmail.com

440-336-0612

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 21, 2008, 2:04pm PDT

21000 Westminster Drive: Strongsville Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 15:56:49 -0500

C J Harrington | Keller Williams Realty | cjharrington.crs@gmail.com | 440-336-0612

21000 Westminster Drive, Strongsville, OH

21000 Westminster Drive Waterford:Strongsville Real Estate

5BR/3.5BA Single Family House

offered at $299,500

Year Built	1995
Sq Footage	3,016
Bedrooms	5
Bathrooms	3 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	10,323 sqft
HOA/Maint	$36 per month

DESCRIPTION

Spacious home with full brick front. 2 story foyer entry with hardwood flooring. Formal living and dining rooms. Family room with a cozy fireplace and access to the decking. Fabulous kitchen with hardwood flooring, planning desk, an island, lighted walk-in pantry and all appliances. 1st floor den or 5th bedroom with adjoining full bath. French door entry into the trayed master suite with a luxury bath, sitting room and walk-in closet. Relaxing deck with greenbelt wooded view. Waterford community offers an outdoor pool, playground, tennis and volleyball. There is also an elementary school located in the neighborhood. For more information call: The CJ HARRINGTON Home Selling TEAM at 440-336-0612, email cjharrington.crs@gmail.com or visit cjharrington.com

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Family room	Living room	Office/Den
Dining room	Breakfast nook	Dishwasher
Refrigerator	Stove/Oven	Microwave
Attic	Basement	Laundry area - inside
Balcony, Deck, or Patio	Yard

COMMUNITY FEATURES

Guest parking	Clubhouse	Swimming pool(s)
Tennis court(s)	Playground

OTHER SPECIAL FEATURES

Volley Ball, Tennis Courts

ADDITIONAL PHOTOS

Seller contact info:

C J Harrington

Keller Williams Realty

cjharrington.crs@gmail.com

440-336-0612

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 21, 2008, 2:04pm PDT

14806 Regency Drive: Strongsville Real Estate

CJ Harrington (Keller Williams Realty) — Sun, 31 Aug 2008 15:55:08 -0500

C J Harrington | Keller Williams Realty | cjharrington.crs@gmail.com | 440-336-0612

14806 Regency Drive, Strongsville, OH

14806 Regeny Drive Sterling Point:Strongsville Real Estate

5BR/2.5BA Single Family House

offered at $317,500

Year Built	1988
Sq Footage	3,464
Bedrooms	5
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	14,100 sqft
HOA/Maint	$25 per month

DESCRIPTION

Majestic tudor with side entry garage and service door. Wooded lot with fenced rear yard. Tiered decking with built-in planters and seating. Relaxing stone patio. 2 story foyer with ceramic tile and a catwalk above. Double pocket door entry into the 1st floor den with crown and chair railing. Beautiful hardwood floors in the formal living and dining rooms. Fabulous gourmet kitchen with granite counter tops, island breakfast bar, built-in grill, double ovens, planning desk and a lighted walk-in pantry. Huge vaulted and skylit dinette area of the kitchen with a butlers pantry. 2 story skylit family room with a pub and wet bar. The convenience of a back staircase with a loft area. Vaulted master suite with relaxing whirlpool bath and walk-in closet. Central Vac, Security and Sprinkler Systems. Plus so much more!!! For more information call: The CJ HARRINGTON Home Selling TEAM at 440-336-0612, email cjharrington.crs@gmail.com or visit cjharrington.com

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Tile floor	Family room	Living room
Bonus/Rec room	Office/Den	Dining room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Microwave	Granite countertop
Attic	Basement	Washer
Dryer	Laundry area - inside	Balcony, Deck, or Patio
Yard

COMMUNITY FEATURES

Tennis court(s)

Playground

ADDITIONAL PHOTOS

Seller contact info:

C J Harrington

Keller Williams Realty

cjharrington.crs@gmail.com

440-336-0612

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 21, 2008, 2:03pm PDT