Matthew P Klein

Investors : You Paid How Much For That?

Matthew P. Klein (Transaction Realty) — Tue, 10 Aug 2010 22:50:12 -0700

I want you to look at the house pictured on the left. Take a good look at it. This is 1950's brick ranch with three bedrooms, one bath, on .23 acres (corner lot) with a one car attached garage. Sales price?

$15,995.

No this is not located in Cleveland, Ohio. Some of the best deals you'll find in the Northern Ohio market aren't in Cleveland. They are actually in cities outside the immediate influence of Cleveland. Think lower property taxes with a higher monthly return on rents. Think fewer restrictions on property transfers and no point of sale inspections with hefty repair escrows locking up your cash. Think getting in and out of a property like this for under $30,000. Have I got your attention yet?

To get deals like this one, do not call just any Realtor. Call a Realtor who knows this market, knows how to negoitiate a deal, and can stay ahead of the market to give you a maximum return on your time and money.

I'm expecting your phone call.

863 Devonshire, Sheffield Lake, Ohio - $156,000

Matthew P. Klein (Transaction Realty) — Wed, 04 Aug 2010 20:29:24 -0700

Matthew P Klein | Transaction Realty | (440) 308-2493

863 Devonshire, Sheffield Lake, OH

See It Today, Buy It Today!

3BR/2+1BA Single Family House

offered at $156,000

Year Built	2005
Sq Footage	1,508
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.18 acres
HOA/Maint	$0 per month

DESCRIPTION

You'll be spellbound by this one-of-a-kind home. With a kitchen full of Oak Kemper Cabinets and an Island, a dining room with custom trim, and Pella Windows you'll look no place else! More photos and information at http://www.863devonshire.com

see additional photos below

PROPERTY FEATURES

- Central A/C	- Fireplace	- Walk-in closet
- Family room	- Living room	- Dishwasher
- Refrigerator	- Stove/Oven	- Microwave
- Basement	- Yard	- Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

Front of Home	Kitchen
Dining Room	Living Room
Bathroom	Patio

Contact info:

Matthew P Klein

Transaction Realty

(440) 308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 4, 2010, 4:03pm PDT

530 Carol Lane, Elyria, Ohio - $94,000

Matthew P. Klein (Transaction Realty) — Wed, 04 Aug 2010 20:04:57 -0700

Matthew P Klein | Transaction Realty | (440) 308-2493

530 Carol Lane, Elyria, OH

4BR/2BA Single Family House

offered at $94,000

Year Built	1982
Sq Footage	1,882
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	.32 acres
HOA/Maint	$0 per month

DESCRIPTION

Beautiful and Young. This Cape Cod is only 28 years old and shows well. Large backyard with an extended deck. Great for cookouts and family get-togethers! More information at http://www.530carollane.com

see additional photos below

PROPERTY FEATURES

- Family room	- Living room	- Dishwasher
- Stove/Oven	- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Front of Home	Deck and Yard
Deck	Living Room
Bedroom	Bedroom

Contact info:

Matthew P Klein

Transaction Realty

(440) 308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 4, 2010, 3:38pm PDT

296 South Pleasant, Oberlin, Ohio - $84,900

Matthew P. Klein (Transaction Realty) — Wed, 04 Aug 2010 19:46:10 -0700

Matthew P Klein | Transaction Realty | (440) 308-2493

296 South Pleasant, Oberlin, OH

Great Location and a Great Price!

4BR/1BA Single Family House

offered at $84,900

Year Built	1900
Sq Footage	1,393
Bedrooms	4
Bathrooms	1 full, 0 partial
Floors	2
Parking	2 Uncovered spaces
Lot Size	.24 acres
HOA/Maint	$0 per month

DESCRIPTION

Literally seconds from the North Coast Inland Trail and Oberlin College is a just a short walk away. The interior boast new carpet, updated bathroom, and a completely refloored kitchen. No neighbors to your immediate North or South! More information at www.296Pleasant.com

see additional photos below

PROPERTY FEATURES

- Family room	- Living room	- Dishwasher
- Laundry area - inside	- Yard

ADDITIONAL PHOTOS

Front of Home	Kitchen
Bathroom (View One)	Bathroom (View Two)
Living Room / Family Room	Yard

Contact info:

Matthew P Klein

Transaction Realty

(440) 308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 4, 2010, 3:21pm PDT

When List Price Does NOT Equal Retail

Matthew P. Klein (Transaction Realty) — Wed, 30 Jun 2010 20:41:29 -0700

Whether you are an investor buying in the $200,000 + price bracket or a buyer looking for a place to call home in that range, I've got something important to share with you. When you see the list price on a home, it doesn't necessarily mean that the property is priced at retail. Even if the property is in a less than desirable condition according to YOUR standards, the list price does not necessarily reflect an accurate price point for it's current condition. In fact, the property could be priced at much less than what it is really worth. This is not an uncommon practice especially with REO property.

Why?

There could be any number of reasons but the one I tend to gravitate towards is the frenzy that an underpriced property creates. It creates an auction like atmosphere without having to pay the auctioneer. Please let me illustrate. Months ago I had a John and Sally Homebuyer who were crazy over an REO. The property had gone from failed short sale, to sheriff sale, and was now returning on the market as an REO. It was priced less than the previous short sale listing which had an offer on it. So what was the result of the underpriced listing? It created flurry of activity on the property and a lot of offers. I advised John and Sally that it was going to be necessary to go over the asking price on the home in order to have a shot at getting. At this point, John and Sally made two mistakes. First, they assumed that with a strong amount of cash and minimal financing, their offer under asking price would be more attractive to the seller. Second, they gauged the list price as the top end of the market for the home's current condition. Both were against the advice of their Realtor.

What happened?

The home sold over the asking price. It was more than $20,000 over the asking price to give you a better idea. John and Sally Homebuyer fell of the face of the map. They did not return my phone calls or emails. Alas, sometimes dealing with buyers is like dealing with my wife.

Even when I am right, I am wrong.

So what is the lesson?

Listen. Pay attention. This is one of the strategies being employed in today's market for corporate seller's to get maximum return. You know that saying that if it is too good to be true, it probably is? It stands to reason here as well. The low price will suck you into a bidding frenzy and once you've gotten "house fever", the seller's know that it's "game over".

Attention Investors : Choosing The Right Agent Is Important!!!!!

Matthew P. Klein (Transaction Realty) — Thu, 24 Jun 2010 23:03:21 -0700

Dear Investor,

This really should go without saying but I find more often than not it doesn't. Therefore I am issuing a reminder. The Realtor who has specialized in the area of residential investment real estate is a different breed from your average Realtor. If you are considering a Realtor who has anything remotely close to the following posted, beware:

"Specializing in Luxury Homes, Vacation Rentals, Commercial Real Estate, Residential Investment and Bank Owned Properties"

You get the idea. Specializing requires significant exposure. The time investment required to specialize in any one of the above categories is not trivial. Each of them requires a different skill set. Selling commercial is not the same as luxury and luxury is not the same as residential investment property. These are niche markets and if you can find a Realtor who has invested a lot of time in that niche, you're in the gold.

So if you're looking for a Realtor who specializes in residential investments, how do you find them?

Know who they are first. They have several identifiable characteristics.

•(1) The professional is looking for the same thing you are, the maximum return on investment. YOU are their investment. When you're interviewing them, they will be interviewing you. It's a two way street. Reasoning? The title "Investor" has gotten a bad rap in many corners of the Realtor community because it has been abused rampantly over the past decade. The name is commonly used to refer to the buyer, who takes a Realtor around to thirty houses, spends fifteen hours of total time viewing, buys one house, and the Realtor receives a $1000 commission. If that Realtor has a split with their broker that $1000 whittles away quickly. Add to that taxes and you can see why many Realtors are reluctant to work with investors. If you're the type of investor who thinks that is a good deal, please stop reading and go somewhere else.

•(2) They will tell you what to expect upfront. They do not like to waste time. So if you receive questions about your financial capability, experience, exit strategy, financing or cash sources, good standing with the state(s) your corporations or LLCs are in, and documentation of all of the above then chances are you've got someone who knows what they're doing. These are questions that need to be answered in advance of an offer being written. If your Realtor knows in advance the answers to these questions, the fewer speed bumps you'll hit later in the purchase. In turn, you should be able to get a few references from either the Realtor's contractors or investors. These are important and it is not uncommon for the two to overlap.

•(3) Their inclination is not towards retail. The National Association of Realtors (NAR) correctly states that the seller who uses a Realtor on average nets more than the For Sale by Owner. In turn, surveys by the NAR also show that when the buying and selling public thinks of dealing with a Realtor they expect to pay retail. Think J C Penney's, Macy's, and Nordstrum's. Their natural disposition is to think discount. They do not "marry" a potential deal and can walk away from the negotiating table with ease. They will not put their car payment or house payment (if they have either) ahead of your success.

•(4) They are also going to be able to give you an additional advantage, a trained second set of eyes. Specialists are actively involved with contractors and home inspectors. They also may have done a few deals themselves. While you should never rely solely on your Realtor's opinion of costs and repairs, an added second or third opinion can help you spot things you might not have at first seen. It may be the difference between putting in an offer and simply moving on to the next property; saving you time. When you're looking over your next purchase for unseen problem spots, the professional is doing the same. The goal is not to sell you a particular house but to be sure that you win.

The Rise of the Squatter

Matthew P. Klein (Transaction Realty) — Mon, 05 Apr 2010 13:21:49 -0700

My market has an issue and I know my market is not the only market to have this issue. I've been watching foreclosures since I became an agent eight years ago. I've attended Sheriff Sales and I enjoy hunting bargains on and off MLS. I'm a nut. I know. However, I am seeing a disturbing trend in the last few years that is really starting to bug me.

As I do my neighborhood strolls looking at homes I came across two houses that I have seen vacant, stickered, and re-keyed by property preservation companies for two and three years respectfully. These properties have never hit the market as an REO. In fact, title is still in the name of the borrower. As I have found out, they were taken to Sheriff Sale two and three years ago both receiving no bids. One of them was taken twice to sale. The Sheriff returned the same for "Want of Bids" as it was put. After that, the record ends and the property sits. The City currently mows the property and since they would be unable to collect their exorbitant fees for mowing the postage stamp sized lawn, it'll fall on the taxpayers to foot the bill. Did I mention that the taxpayers have already foot the bill for the two banks in question?

Ohio has no law permitting squatter's rights but that isn't to say that in these times a new precedent could not be set. After all, it would not be out of the ordinary in Cleveland for someone to take up occupancy in a vacant home. Eviction proceedings in the highly liberalized court system in Cuyahoga County could take awhile and cost an owner a lot of money to do so, not to mention further potential property damage. So who is to say what would happen if someone decides to take up residence in one of these homes? The owner still has title, foreclosure proceedings ensued, property goes to Sheriff Sale and does not sell. House is empty, who is on the hook here? Incidentally, I'd love to hear from any of these banks as to why this practice is becoming more and more common. I'm not talking about a dinky home in the center of Cleveland where fair market value may be $25,000 repaired, the two homes in question are in areas where there is a substantial mix of homeowners and renters. It's one of the big targets for first time home buyers.

One more tid bit, it is only personal opinion. If this trend continues to grow, then why would the homeowners leave? If the foreclosure sale is only to be vacated or to receive no bids, wouldn't it be worth it to stay? At the very least, if it does receive bids and the property is sold at sale the homeowner would most likely have the opportunity to receive a cash for keys check. You're going to move anyway, why not prep and hold out? With the property then being on the books of the bank, they assume the liability and owner's name is free of any added assessments or court appearances for non-payment of taxes.

In conclusion, anybody got a clue as to why this is occurring? I'd love to hear some opinions on this.

Recent Activity in The Westwinds, Avon Lake, Ohio

Matthew P. Klein (Transaction Realty) — Tue, 30 Mar 2010 19:35:29 -0700

All sales located within the Westwinds designated as single family homes (condos excluded from this list) within the past six months. Enjoy!

209 Seaward Way - Sold 10/21/2009 - $232,500 : FAIR MARKET

322 Westwind Drive - Sold 11/16/2009 - $300,000 : SHORT SALE

310 Long Pointe Dr - Sold 03/26/2010 - $310,000 : FAIR MARKET

31719 Tradewinds Dr - Sold 10/01/2009 - $335,000 : BANK OWNED

357 Harbor Ct - Sold 10/06/2009 - $355,000 : SHORT SALE

400 Harbor Ct - Sold 03/19/2010 - $457,900 : FAIR MARKET

384 Harbor Ct - Sold 10/16/2009 - $480,000 : FAIR MARKET

460 Anchors Weigh - Sold12/15/2009 - $490,000 : FAIR MARKET

More information on The Westwinds and other local developments can found at the Fine Ohio Homes Blog.

Recent Activity in Red Tail, Avon, Ohio

Matthew P. Klein (Transaction Realty) — Mon, 29 Mar 2010 10:08:01 -0700

Imagine waking up to beautiful views of 9th fairway or the 4th green. The Red Tail community is full of uniquely designed, custom built homes. Take a look at below at what is selling in Red Tail. These sales are within the past six months. Now is the opportunity to take advantage of the low cost of housing with a high standard of living.

33751 Via San Angelo Dr, Avon - Sold 11/27/2009 - $280,000 : BANK OWNED

34417 Saint Maron, Avon - Sold 10/30/2009 - $500,000 : FAIR MARKET

4262 Saint Francis Ct, Avon - Sold 01/04/2010 - $405,000 : FAIR MARKET

34458 Saint Maron Blvd, Avon - Sold 10/16/2009 - $250,000 : BANK OWNED

More information on Red Tail can be found at the Fine Ohio Homes Blog and the Red Tail Golf Community website.

1517 Harris, Sheffield Village - FOR SALE - $105,000 - HUD OWNED

Matthew P. Klein (Transaction Realty) — Fri, 26 Mar 2010 18:32:09 -0700

Matthew P Klein | Transaction Realty | 440-308-2493

1517 Harris, Sheffield Village, OH

1800's Classic on 8 Acres of Paradise

5BR/2BA Single Family House

offered at $105,000

Year Built	1862
Sq Footage	2,752
Bedrooms	5
Bathrooms	2 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	8.68 acres
HOA/Maint	$0 per month

DESCRIPTION

HUD Case #412-562685. Property condition report available at www.nhmsi.com. Classic Century Home! Built in 1862 and on 8 Acres!!! Beautiful woodwork, fireplace, and fixtures. The deck has a beautiful view! Call us, request a showing, and write an offer today!

see additional photos below

PROPERTY FEATURES

- Fireplace	- Walk-in closet	- Hardwood floor
- Family room	- Living room	- Office/Den
- Dining room	- Basement	- Laundry area - inside
- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Front of House	Family Room
Kitchen	Master Bedroom
View From Back Deck	Back of House

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 26, 2010, 3:01pm PDT

808 Robinwood, Sheffield Lake - FOR SALE - $40,000 - HUD OWNED

Matthew P. Klein (Transaction Realty) — Thu, 25 Mar 2010 09:26:48 -0700

Matthew P Klein | Transaction Realty | 440-308-2493

808 Robinwood, Sheffield Lake, OH

3BR/1BA Single Family House

offered at $40,000

Year Built	1940
Sq Footage	1,308
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	.06 acres
HOA/Maint	$0 per month

DESCRIPTION

HUD Case #412-562635. Property condition report available at www.nhmsi.com. All brick home. Ceramic tile in the kitchen, bathroom, and laundry area. Corner lot! Fenced in yard. To request a showing or write an offer, give us a call!

see additional photos below

PROPERTY FEATURES

- Fireplace	- Tile floor	- Family room
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 25, 2010, 6:14am PDT

761 West Shore, Sheffield Lake - FOR SALE - $53,000 - HUD OWNED

Matthew P. Klein (Transaction Realty) — Wed, 24 Mar 2010 18:45:17 -0700

Matthew P Klein | Transaction Realty | 440-308-2493

761 West Shore, Sheffield Lake, OH

This Could Be Your Baby Step 6!

3BR/1+1BA Single Family House

offered at $53,000

Year Built	1962
Sq Footage	1,548
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.18 acres
HOA/Maint	$0 per month

DESCRIPTION

HUD Case #412-503217. If you've got the cash saved for Baby Step 6, this could be a great first purchase! Simply beautiful bay window in the living room, several ceiling fan fixtures and a two car attached garage. To request a showing or write an offer, give us a call!

see additional photos below

PROPERTY FEATURES

- Family room	- Living room	- Attic
- Basement	- Laundry area - inside	- Yard

ADDITIONAL PHOTOS

Front of House	Living Room w/ Bay Window
Ceiling Fan	Kitchen
Inside Attached Garage	Yard

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 24, 2010, 3:25pm PDT

Work Is The Blessing, Welfare Is The Curse

Matthew P. Klein (Transaction Realty) — Wed, 24 Mar 2010 02:48:33 -0700

Have you ever believed something but were not exactly sure why you believed it? You knew it in your heart but yet circumstances in your life would challenge your assertions of that belief. You could just not quite pinpoint why it was true for you but you knew it was. I've felt that way about a belief I've had for the past few years but only when I truly examined it did I know why. Unless you were already like minded, I couldn't convince you of it. I just knew it.

So how many times has this happened to you? You work hard, you do the "right" things and pay your bills, put food on the table, family first, never miss a payment, went to college and got a great job, have a lot of debt and then wonder why your neighbor or that man in the grocery store has a Rolex and you don't?Perhaps it is even more blatant. Maybe you're a landlord showing a rental property to a Section 8 tenant and her live in boyfriend shows up driving a brand new Ford Explorer completely loaded. She has kids with the man but is not married to him to avoid getting docked her monthly cut from the government. So he lives with her and they live in style on your tax dollars having the government pay their rent and hand them food stamps while you drive a 1995 Ford Taurus just doing what you can to make ends meet paying the mortgage, working a full time job, trying to put your kids through school, and take care of your family. Did you ever have a weak moment and say "What Am I Doing Wrong?".

I remember when I used to work at the Ford Plant in Brook Park, Ohio we had a gentleman (gentleman is being nice) on our line who flaunted his seniority for maximum break time while collecting the full pay. His way or the highway, intimidation 101. I was much younger but had a bull head and if you knew me then, then you knew that I didn't matter what size you were or if you could kick my arse, I was going to speak my mind. It got me into to trouble but it was also teaching me something else. I inherently knew this man was a disservice to not only the company but to his own health as well, it showed in his gut. Yet I could not at that time, pinpoint it. I felt blessed to be able to work and I felt that his laziness was a curse. Despite his flaunting of getting paid for sitting on his rear, I knew better. He was the loser and it reflected in his personal life in some serious ways.

In light of the times we are in I decided I needed to take another hard look at WHY I believe in spite of the current set of circumstances, my life is blessed and the "benefits" that the new health care policies will in turn create will quickly become the curse, a result of the unearned entitlement mentality (laziness).

What I have found about the foundation my belief system is solid:

God ordained work as a blessing for mankind and His Kingdom (Genesis 1:28). God also practices what he preaches, as the Lord himself testified in John 5:17. For me, that is more than enough to know that when I am working, I experience a blessing. Yet, there is more to solidify that belief. Paul writes in 2 Thessalonians 3:6-8 the following:

In the name of the Lord Jesus Christ, we command you, brothers, to keep away from every brother who is idle and does not live according to the teaching you have received from us. For you yourselves know how you ought to follow our example. We were not idle when we were with you, nor did we eat anyone's food without paying for it. On the contrary, we worked night and day, laboring and toiling so that we would not be a burden to any of you. For even when we were with you, we gave you this rule: "If a man will not work, he shall not eat.

Thank you, Paul! Enough said. The foundation upon which I believe that if I am working I am being blessed and honoring God stands. If you are being taught the contrary in your church or school, it's dead wrong and you're setting yourself up for disappointment, frustration, unhappiness, and failure (in no particular order).

I will, however, not just use the Bible as a reference point for this but also refer to an author who held firm in her belief that God did not exist. John Galt, a character made famous by Ayn Rand's masterpiece "Atlas Shrugged" took to task the idle mind with this statement:

No, you do not have to think; it is an act of moral choice. But someone had to think to keep you alive; if you choose to default then you default on existence and you pass the deficit to some moral man, expecting him to sacrifice his good for the sake of letting you survive by your evil. -John Galt, Atlas Shrugged

The idle mind, the slothful and lazy man is being defined as evil according to Rand. The Bible concurs:

Proverbs 18:9: Whoever is lazy in his work is related to a vandal

For those of this lifestyle, the curse can take on many forms. It may be the house he owns or rents shows signs of major disrepair and sloppiness (Ecclesiastes 10:18). Laziness leaves visual clues and signs of potential, if not already apparent problems and likely will show signs in body (health) or mental acuteness. Begging will eventually ensue in one form or another and with that comes a lost sense of self worth. Consider Proverbs (6:10,11 and 19:15). The welfare state is not only a form begging, it's a form of theft. Those who would not condone the laziness and fraud perpetuated in the welfare state are forced to or they will face jail time. The legendary "War on Poverty" has created more poverty since it's inception than it has cured. The welfare tallies continue to rise and with it so do the number of idle minds, debilitated bodies, and atrophied spirits.

I want none of that. My love of God, family, and life is too great and my self worth is too important to leave to somebody else to decide. I'm not a number or a statistic. I am not a victim though I am part of the most discriminated class of people since before the Civil Rights era. You'll not find me among the "Protected Classes" in Fair Housing Law. I am an individual. I've been blessed with an able body and a sound mind. To let them waste under the "mercy" of the federal government is a punishment worse than death itself. It is a curse.

I can only pray that otherwise able bodies and minds lost in the mire of government welfare will see the values of self worth and hard work. I can only pray that they break of the chains of slavery crushing the human spirit and are released from the societal onslaught subordinating them to a state of victim-hood. No amount of unearned material gains can replace the contentedness and joy that self worth brings. Regrets at your deathbed are no way to go out.......

Closed on Sunday

Matthew P. Klein (Transaction Realty) — Sun, 21 Mar 2010 13:14:23 -0700

This morning at church, our Pastor gave a message about the importance of rest. He used the book of Leviticus, Chapter 25:1-22 as the starting point and went into the what and why of rest from the Bible. Now, I know I'm not the only one but I was sitting in that service with the words "Guilty As Charged" written all over my forehead. While I have made attempts in the past, they were puny at best. I love my work, I love what I do and sometimes I just have great difficulty in putting the brakes on. Even when I am not working, I tend to think about. Having a Blackberry with email coming right to my phone, oh Lord, I'm horrible and I admit it. Even when I was across the pond in Egypt with my wife, I was bad. Perhaps I should take some lessons from my cat?

Yet, I sometimes (okay, mostly) have a hard time trusting God with this. Many of my competitors run seven days, open house on Sunday. It's a great day to pick up buyers so the theory holds. I could be developing a new marketing program or the next brochure. I could use that extra day! Yet, God doesn't say that. He promotes the six days of work and the seventh day of rest first by example in Genesis 2:2. This isn't "Do as I say not as I do", He did exactly what he expects of us.

Truett Cathy, the man behind Chick-Fil-A has a five step process for business success. This incredible man, who is now in his late 80's names his fifth principle as "Closed On Sunday". According to Truett's own website, Chick-Fil-A has had 40 years of consecutive sales growth with it's free-standing restaurants achieving higher sales in six days than most do in seven. It was Truett's way of honoring God and instilling those principles within every member of his organization.

Yet, for many of us this would be trying to teach and old dog new tricks. I've had the principles of hard work instilled in me as long as I can remember. In times of prospering and famine, it was all about getting your butt out the door and in the field or the factory. This is something that I pray I'm able to break. If you're like me, perhaps it's time that we give it a shot? Say, next Sunday? Turn the phone off, put down the pad and paper, and hug your spouse and yours kids (or your cat, I've no kids). Enjoy a walk in the park, a Sunday morning at church, and a family dinner. We both could be pleasantly surprised at how much better the week will look.

As for this Sunday, I'm calling it quits. I just felt so compelled to blog about not working on Sunday that I blogged on Sunday. Ugh!!!! Guilty As Charged!!!!

If You Are Heading Into Baby Step 6.....Opportunity Abounds

Matthew P. Klein (Transaction Realty) — Sat, 20 Mar 2010 00:15:49 -0700

If you know the teachings of Dave Ramsey, then you know Baby Step 6 is a monumental one. After that it is just wealth building in Baby Step 7. For those of you who do not know the Baby Steps, Baby Step 6 is paying off your house completely so you are no longer indebted to the bank. So what if you are already into Baby Steps 4 and 5 and are renting or are still living at home and piling up cash? Right now, opportunity abounds and if your patient, it will pay off.

Depending on your level of readiness or how much you've put away for that home, you could own your home outright with that first purchase. Plenty of communities are sporting off discounted homes. Neighborhoods of $70,000 - $80,000 homes have homes selling at discounts anywhere from $20,000 - $40,000. Some of these homes need nothing more than cosmetics including painting, carpet changes, and perhaps a change of style in fixtures. Others need more but would still be worth the effort. If the improvements are not essential for occupancy, they can even be done as you're living in it.

That being said, if you don't have it all right now to be buying do not worry. Housing prices are not going anywhere for a little while yet. With unemployment still high and the threat of higher taxes and other legistlative disasters on the horizon we could be looking at a significant period of time in which values stay at and even fall lower than their current levels.

The Longest Street Name You've Ever Seen

Matthew P. Klein (Transaction Realty) — Tue, 16 Mar 2010 21:54:37 -0700

Do I Need To Say Anything Else?

Of Family Values and Real Estate - Lessons From Egypt

Matthew P. Klein (Transaction Realty) — Tue, 16 Mar 2010 21:41:52 -0700

When I first went to visit my then bride-to-be in Egypt five years ago, I must admit I that I did not realize what exactly I was in for. On my flight over, I kept playing scenerios in my mind of how things were going to happen, what the month long trip would be like and practically everyone one of my predictions was wrong. Besides the obvious immediate culture shock of how automobile traffic is conducted, (Cairo has the highest fatalities per square mile for all major cities in the world) I was also at the same time drawn into a world where everything about God, family, money, and real estate was percieved in an almost foreign context to me.

Egypt is a cash society. So this modern boy with his debit card had some quick learning to do about currency. There were few ATM machines around, even fewer places that took credit or debit cards (except the places designed specifically for us Westerners and tourists). Nothing about their lifestyle was credit. If you are looking for the prices on an item, forget it. You'll have to haggle and negotiate. Coming from our society where the price you see is the price you pay at the retail store, this was difficult for me to grasp.

The first ten percent, always and without fail, was given to their church. Their kids were trained from a very early age to do the same with money. In her church, the men sat seperate from the women and the ladies kept their heads covered. Family and God are sacred. The country has nursing homes but they are few, parents tend to grow old on their own or with their children and it is considered an honor to do so. Some of these things we see in particular places of our society though you'd never know it by the five o'clock news or your local newspaper. There is one thing, however, that I found completely fascinating about how they conduct their creditless life.

It's real estate and how it relates to the family.

In Egypt, unlike here, when the kids are 18 they do not fly out of the nest. Even after college, the children will often be found at home. While some will fly under the radar and leave, by in large they are exception. In most cases, as I have learned, the children do not leave home until they are married. They do not marry until they own a home. They do not own a home unless it is paid for with cash. Mortgages are the exception, not the case. The responsibility is with the man to provide the home and care for the family. With that kind of formula, as you can imagine, divorces over finances hardly exist and they don't occur over the stress of paying credit cards, mortgages, car payments, and the like.

It is a completely different spin on the adages that I had heard by friends, teachers, and even some family alike. You know the saying right? It is the go to school, go to college, get a job, get a car, get married, get a mortgage, have kids......and the whole cycle is repeated with a direct implication about credit and debt. Paying cash for a house was as foreign to me as a mortgage was to her. As we continue to grow together, we're learning to work through a lot of those cultural differences (speed bumps). This is one area, however, where I'll gladly let go of the old ways without a fight.

How Much Did You Really Make?

Matthew P. Klein (Transaction Realty) — Sat, 13 Mar 2010 12:27:22 -0800

Let's be hypothetical for the moment. You bought a house 10 years ago for $100,000 , no down payment, at 4% (using a low interest rate to make a point, the higher it goes the worse it will get). By your 120th mortgage payment you have paid $21216.73 in interest and $36073.67 in principal for a total of $57290.40 in payments to the bank.

Now, let's say you try to sell FSBO to save the commission (again, I'm being very generous here) and you find a buyer. Purchase price is $130,000, FHA, with 3% paid by the seller. Total costs to the seller to close (including tax, assistance, title, and no commission) is $5470. Not unrealistic. So the total in fees and interest this seller has paid over the course of 10 years (not including closing costs on purchasing, any possible mi or pmi. I left those out) is a grand total of $26686.73. At a sales price of $130,000, this seller just made a grand total of $3313.27. Meanwhile, our fellow lending institution has made out with $21216.73 after having their principal returned to them.

Why didn't I include the paid down principal in the seller's profit? The lending institution determines their profit based upon the return of the $100,000 invested. Our seller in this case invested principal of $36073.67 over the course of ten years and was returned a whopping $3313.27 over that same period. This does not include a seller using a Realtor, costs of the initial purchase, and costs for replacements and/or upgrades. While our seller will recieve a check from the title company for $57,669.63 it's an illusion. Our lending institution, however, got all the benefits of lending that money without having to worry about property taxes, leaking roofs, replacing a furnace, repainting, etc. and this was only at 4%.

While I leave out some costs to the seller intentionally, it only furthers the point that I am trying to make. The money is made on the financing and if we were take a real honest look at how much we've put into our homes over the course of the years in terms of mortgage, taxes, interest, mi, pmi, improvements, etc. we very well may be shocked. In the example above, you will have made 153 payments before your monthly payment starts going more to principal than to interest.

Thomas Stanley has a wonderful quote from his book "The Millionaire Mind" from a millionaire named Gene who he interviewed. Gene bought "salvage" real estate from a financial institution. After the deal was done, the senior credit officer signaled him over to the window and he looked out over a city for miles and miles. What the senior credit officer said follows:

We [the lenders] own it all .... all of it. The business out there? ... You [borrowers] just run these businesses for us. You guys run them for us, the financial institutions.

From Thomas Stanley's "The Millionaire Mind" (Chapter 1 : An Introduction to the Millionaire Mind)

No Better Time Than Now

Matthew P. Klein (Transaction Realty) — Fri, 12 Mar 2010 12:31:44 -0800

I'm not a big fan of the National Association of Realtors when it comes to their marketing campaigns to buyers. No matter what the market is like, there is no better time than now to buy. Interests rates were great but values were bubbling over several years ago, still no better time than now to buy. Loans were easy to get, get your part of the American Dream. No better time than now to buy.

Sorry boys, I just don't "buy" into it.

Now, however, in this particular market climate I do. Why? Not only are values low, it's much easier to purchase a home for your family or rental property for your portfolio without the help (if you can call it that) of a bank! Imagine, having a home of your own without a house payment. Waking up every morning knowing that the carpet beneath your feet is yours. The ground you walk on is yours. Just think, not having to go to your friendly banker asking them, begging them for the privelege of borrowing their money. Having a slow month? Laid off? Fired? It's alright. You can weather a storm much better and sleep comfortably without that house payment.

Now, I hear some of you saying "....but I don't have the cash for it now...." or "......I won't be able to get into the neighborhood with the Jones......"

If I were a slick salesman after only a few bucks, I'd encourage you to get that loan and compete into trying to impress neighbors and people you don't know who you probably wouldn't like. I'm not, so let me tell you truth. First, if you don't have the cash now do not worry. The bubble on the housing market has burst and despite the panic and fear the NAR and the Feds may give you about housing prices going up, it's not happening. It's an illusion. You've got time. Start putting away your money now. Secondy, if you're out to impress others, your family, people you don't like and will probably never see again then you'll end up unhappy, often times broke, and practically always unsatisfied. Discipline reaps rewards and if you're living your life based upon someone's rules and impressions, you'll end up broke and wanting.

Dave Ramsey has a saying, "Live like no one else so later you can live like no one else". So if you're not to the point yet where you can afford the home you want with cash, renting is not a bad idea. You can also start out smaller, nothing wrong with that and build you way up. My parents raised five kids in a small 1000 sq. ft. 3 bedroom home in what is considered to be a $90,000 neighborhood. The neighborhood is older and still a great place to live (yea, I'm a bit biased). Yes, it's not the Westwinds in Avon Lake nor is it Legacy Pointe but if you're just starting out in life or a half way along, you've got plenty of time to get there before retirement.

There is one last reason why I firmly believe in this. Neighborhood stability. Everywhere you look the blame in being placed on banks, appraisers, real estate agents, loan officers, and Wall Street for the vacant blight on lower and higher income neighborhoods. Ladies and Gentleman, who agreed to the terms and who signed on the dotted line? Some personal responsibility, please? If you paid for your house with cash, tell me what bank will foreclose on your for an unpaid mortgage? Property values will rise of their own accord with stability and seller's can hold on to their property to take the price they want without having to worry about a mortgage payment or making sure there is enough to clear the mortgage.

If you'd like to start walking down this road or you are half way there, please call me. I would love to talk to you about the options you have in our market and guide you through the process. If you're already there, I'd love to talk with you and hear your story. Pick up the phone and call me!

215 Abbotsford Dr, Sheffield Lake - SOLD! - $162,000 - HUD OWNED

Matthew P. Klein (Transaction Realty) — Fri, 08 Jan 2010 15:07:39 -0800

Matthew P Klein | Transaction Realty | 440-308-2493

215 Abbotsford Dr, Sheffield Lake, OH

Your Diamond In The Rough!

4BR/2.5BA Single Family House

offered at $170,000

Year Built	1995
Sq Footage	2,056
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	9,931 sqft
HOA/Maint	$0 per month

DESCRIPTION

HUD Case #412-559207. 15 Years Young! Amazing colonial with little to do to make this home. Property condition report available at www.nhmsi.com. To see more photos, request a showing or write an offer, give us a call!!!

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- Family room	- Living room	- Microwave
- Laundry area - inside	- Yard

ADDITIONAL PHOTOS

Front of House	Kitchen
Living Room	Dining Room
Dining Room Chandelier	Master Bedroom

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Jan 8, 2010, 11:41am PST

31848 Hazelwood, Avon Lake, OH - SHORT SALE

Matthew P. Klein (Transaction Realty) — Fri, 08 Jan 2010 13:52:50 -0800

Matthew P Klein | Transaction Realty | 440-308-2493

31848 Hazelwood, Avon Lake, OH

Short Sale - Make Your Offer Now!

4BR/3.5BA Single Family House

offered at $430,000

Year Built	1996
Sq Footage	2,884
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	17,816 sqft
HOA/Maint	$0 per month

DESCRIPTION

Stunningly beautiful home with a nice lot. Large kitchen has maple cabinets, center island, and granite countertops. Sunroom overlooks a large deck. Gorgeous fireplace in family room. Finished basement with small kitchen, fireplace, and a full bathroom.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Tile floor
- Family room	- Living room	- Office/Den
- Dining room	- Granite countertop	- Basement
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Jan 8, 2010, 10:19am PST

1787 West 48th, Cleveland, OH - SHORT SALE - $31,000

Matthew P. Klein (Transaction Realty) — Tue, 24 Nov 2009 15:15:07 -0800

Matthew P Klein | Transaction Realty | 440-308-2493

1787 West 48th, Cleveland, OH

Short Sale In The Ohio City Area!!!

4BR/1BA Single Family House

offered at $31,000

Year Built	1900
Sq Footage	1,918
Bedrooms	4
Bathrooms	1 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	3,702 sqft
HOA/Maint	$0 per month

DESCRIPTION

Short Sale! BPO completed. An excellent deal for the investor. Vinyl sided, updated windows, wood floors, some beautiful ceiling fixtures. Decorative fireplace. See it today, buy it today!

see additional photos below

PROPERTY FEATURES

- Central heat	- Fireplace	- Hardwood floor
- Family room	- Living room	- Basement
- Laundry area - inside	- Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 24, 2009, 11:56am PST

Free Pears, Please Don't Let Them Go To Waste!

Matthew P. Klein (Transaction Realty) — Mon, 28 Sep 2009 12:51:27 -0700

We have another producer in the Klein Family. This may very well be the largest pear tree in Ohio.......we inherited it. There are still a good 200 pears up there and during cooler weather or nightfall when I don't have competition from other insects we pick them. My challenge is, we have way too many pears for just myself and my wife. If the warm weather holds up, we may be able to hold out for a few weeks yet but I can't see letting all of these great pears go to waste. If you, your church, or organization would like some please send me a message and we'll make arrangements for you get them. I do not want to see them go to waste in my yard!

941 Warwick, Sheffield Lake - CLOSED - $40,000 - HUD OWNED

Matthew P. Klein (Transaction Realty) — Mon, 21 Sep 2009 08:34:29 -0700

Matthew P Klein | Transaction Realty | 440-308-2493

941 Warwick, Sheffield Lake, OH

Owner Occupant Only Bid Until 9/28/2009

3BR/1BA Single Family House

offered at $45,000

Year Built	1952
Sq Footage	1,400
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	6,838 sqft
HOA/Maint	$0 per month

DESCRIPTION

Hud Case #412-540852. Cute bungalow with hardwood floors, nice ceiling fixtures, and a large eat in kitchen. Needs some work. Property condition report available at www.nhmsi.com. To see more photos, for a showing, or to write an offer give us a call!!!!

see additional photos below

PROPERTY FEATURES

- Hardwood floor	- Family room	- Basement
- Laundry area - inside	- Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 21, 2009, 5:27am PDT

1717 East 33rd, Lorain - SOLD - $15,227 - HUD OWNED

Matthew P. Klein (Transaction Realty) — Sun, 20 Sep 2009 21:50:58 -0700

Matthew P Klein | Transaction Realty | 440-308-2493

1717 East 33rd, Lorain, OH

A Great Deal For the Investor or Home Owner

3BR/1BA Single Family House

offered at $11,000

Year Built	1900
Sq Footage	1,040
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	7,100 sqft
HOA/Maint	$0 per month

DESCRIPTION

Hud Case 412-528231. Some of the work has already been done. Vinyl sided, many updated windows, sump pump in the basement. Opportunity knocks! Property condition report available at www.nhmsi.com. To see more photos or for a showing, please email or call us!!!!

see additional photos below

PROPERTY FEATURES

- Living room	- Dining room	- Attic
- Basement	- Laundry area - inside	- Yard

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Matthew P Klein

Transaction Realty

440-308-2493

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 20, 2009, 6:30pm PDT