TEAM PRIBISKO BLOG

CHOOSE A REALTOR WHO CAN BE A CHAMELEON

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Fri, 04 Sep 2009 21:00:07 -0500

Whether you are a Seller or a Buyer, in the current market, you need a Realtor who can be a chameleon.

There is a significant difference between the selling habits, buying habits, communication methods and styles, wants and needs, etc. of the different age groups who are buying and selling real estate. And, often, a transaction involves a Seller and a Buyer from different generations.

There is a major difference between Gen Y (also referred to as the "Millennials"), Gen X, Baby Boomers and seniors (some of whom are referred to as the "Greatest Generation").

For a Realtor to be "full service," he/she needs to incorporate a variety of the high tech & low tech methods in his/her business arsenal. This means your Realtor needs to employ interactive Web sites, blogging, listing syndication, text messaging, e-mail (with and without scanned documents), voicemail, faxing, overnight mail, snail mail, personal delivery, dealing with relatives from multiple generations, and availability 7 days a week.

IT'S SUMMER IN WESTLAKE

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Fri, 03 Jul 2009 11:04:10 -0500

We are all fortunate to live in such a beautiful City!

Yes, we must dodge the orange barrels. However, that means our City is constantly updated & maintained. This is important for market values of our real estate.

This is a great time to buy or sell residential real estate. The City is in full bloom & the weather is great. But, more importantly, interest rates continue at historical lows & market values for homes seem to be stabilizing.

USE A SELF-DIRECTED IRA TO PURCHASE REAL ESTATE NOW!

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Thu, 07 May 2009 15:35:07 -0500

Wish you could invest in real estate now, while the market is hot with many properties at all time lows? But, maybe you think you don't have enough cash available.

Think again, if you have retirement money invested in IRAs.

The IRS has rules & regulations that provide for investment in real estate through self-directed IRAs. You can invest in a house, duplex, apartment building, etc., depending on the amount of your investment moneys.

You will need a financial advisor, who has the training, credentials, and licensing to enable him/her to make sure your investment complies with all of the applicable IRS rules & regulations.

You will also need a Realtor® to assist you in identifying properties you may want to purchase; and, who is willing to work with your financial advisor as well.

REAL ESTATE NEWS - GREATER CLEVELAND - WEEK ENDING 02/08/09

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Wed, 11 Feb 2009 13:34:52 -0600

The Senate and House continue to work on the economic stimulus plan that includes action to support the housing market. There is a critical need for a resolution of the housing crisis as a main priority for the Country's recovery from the U.S. economic recession.

For Buyers, there is plenty of mortgage money available, both FHA & conventional. Rates have increased somewhat. However, housing prices remain low. There are reports that Ohio housing prices may have hit their lowest point in 2009 & may begin to rise in 2010. So, 2009 continues to be a wonderful time to buy, especially for first time home buyers.

For Buyers who do not have the down payment required by lenders, there is positive information that some of the non-profit organizations who have helped first-time home buyers with down payment moneys may receive funding for that assistance again this year. Stay tuned for further information as it becomes available.

For Sellers, homes will sell when they are priced to sell relative to each given home's condition, location, competitive homes on the market & comparative home sales in the last 3 months. Remember that the appraisal by the Buyer's lender determines the Lending Value, which is the Market Price for a given transaction. Sellers need to be prepared to sign an Amendment to the Purchase Agreement to adjust the original Purchase Price to the Market Price as determined by the lenders' appraisals, if the Sellers want the sale to proceed. Realistic list prices at the time of listing & purchase prices when a Purchase Contract is signed will help avoid lender appraisal surprises.

CROCKER-STERNS OPENED ON 12/18/08: I-90 to I-480 IN IN MERE MINUTES!

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Tue, 23 Dec 2008 10:42:55 -0600

After living in Westlake for 25 years, we, along with fellow Westlake residents, have reason to celebrate this holiday season. After decades of planning, the major link between I-90 and I-480 is complete.

The ribbon cutting ceremony took place on 12/18/08. It opened for regular traffic the same day. TEAM PRIBISKO tried the commute from I-90 to I-480 that day. Then, we tried the route all the way to Cleveland Hopkins Airport. It was fantastic! (Be sure to watch your speed. The speed limit is 35 and the police are already handing out tickets.)

This event will have a significant, positive effect on Westlake.

Westlake is already a destination city for buyers looking for an upscale community that "has it all." However, more buyers looking for an easy commute from home to work can consider Westlake, wherever they are employed. We now have direct access to all major arteries: I-90, I-80 (the Ohio Turnpike), Ohio Route 2 and I-480, making it easy to travel North, South, East and West. (And, as stated above, the tirip to and from Hopkins Airport is fantastic.)

The other positives include neighborhoods with side streets that have been used as short cuts for traveling between I-90 and I-480, which should return to controlled traffic. And, Westlake retail stores, restaurants, service providers, etc. should see increased business from the direct link to and from I-480.

WESTLAKE NEWS: CROCKER-STERNS OPENS ON 12/18/08: I-90 to I-480!

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Sat, 13 Dec 2008 15:44:15 -0600

The ribbon cutting ceremony for the opening of the Crocker-Sterns extension is set to occur on 12/18/08. It opens for regular traffic the same day.

This event will have a significant, positive effect on Westlake.

Westlake is already a destination city for buyers looking for an upscale community that "has it all." However, more buyers looking for an easy commute from home to work can consider Westlake, wherever they are employed. We will now have direct access to all major arteries: I-90, I-80 (the Ohio Turnpike), Ohio Route 2 and I-480, making it easy to travel North, South, East and West. And, the trip to and from Hopkins Airport will be great.

DESPITE THE ECONOMY, HOMES WILL CONTINUE TO BE BOUGHT AND SOLD

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Sat, 18 Oct 2008 11:49:41 -0500

The turbulent financial markets around the world and in the United States have affected the real estate market at the local level. Buyers and Sellers are concerned about the effect the financial markets will have on the market price of homes for Sellers and the availability of reasonal credit terms and interest rates for Buyers. No one has a crystal ball; but, the fact remains that homes will continue to be purchased and sold. Sellers will see lower market prices for their homes, but Sellers will, likewise, obtain their next homes at a lower purchase price. Buyers are still in a Buyers' Market, so there are a number of homes to choose from at each price point and "more home for your money". Buyers, however, need to be prepared for stricter mortgage loan guidelines, when applying for a loan pre-approval and for loan applications. And, more Buyers will qualify for FHA loans, since FHA mortgage loan limits have been raised.

THE ESTATES OF WESTLAKE, WESTLAKE, OH

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Sat, 30 Aug 2008 08:14:37 -0500

As residents of Westlake (in Settlers Reserve) since 1983, TEAM PRIBISKO has a unique perspective in and knowledge of your neighborhood.

The Estates of Westlake is a prestigious, upscale neighborhood with stately homes. It is one of the most desired neighborhoods in suburban Cleveland, because of the quality of the homes (both in terms of construction and fine appointments); the ample size of the homes, with varied styles; the attractive, well-kept landscaping and yards; and common areas that include the community tennis courts and pool.

A wonderful feature of The Estates of Westlake is its location within Westlake, somewhat secluded, yet close to all of Westlake's amenities. A resident of your neighborhood is approximately one to two miles from everything -- Crocker Park, The Promenade, restaurants of all kinds, a variety of shopping establishments, entertainment and recreation venues, The Cleveland Clinic Foundation Westlake campus, West Shore Hospital, Westlake schools, pre-school and day care centers, beautiful parks, private and public fitness facilities, private and public golf courses, the opportunity to join or coach sports teams for various age groups, etc. (The Westlake Recreation Center Campus is within walking distance.)

The Estates of Westlake provides a sense of warmth and safety. When walking past the stately homes, one quickly gets a sense of community, with residents waving, smiling and saying hello.

A resident of The Estates of Westlake has a commute of approximately 20 minutes to downtown Cleveland and Cleveland Hopkins Airport, as well. There is quick access to I-90 and the Ohio Turnpike. And, the completion of the Crocker/Stearns extension to I-480 is slated for late 2009, which will provide easy access to I-480.

Steve & Pat Pribisko

TEAM PRIBISKO

SETTLERS RESERVE, WESTLAKE, OH

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Sat, 30 Aug 2008 08:06:54 -0500

As residents since 1983, TEAM PRIBISKO has a unique perspective in and knowledge of our neighborhood, Settlers Reserve

Settlers Reserve was one of the first upscale neighborhoods in Westlake. It remains one of the most desired neighborhoods, as there are a variety of home designs and sizes, with mature trees and well kept yards, and it is affordable.

One of the best features of Settlers Reserve is its location within Westlake. A resident of our neighborhood is approximately one to two miles from everything -- Crocker Park, The Promenade, restaurants of all kinds, shopping of all kinds, entertainment of various types, the Recreation Center, pharmacies, The Cleveland Clinic Foundation Westlake campus, West Shore Hospital, Westlake schools, assisted living facilities, nursing homes, day care centers, beautiful parks, private and public fitness facilities, private and public golf courses, the opportunity to join or coach sports teams for various age groups, etc.

A resident of Settlers Reserve has a commute of approximately 20 minutes to downtown Cleveland and Cleveland Hopkins Airport, as well. There is quick access to I-90 and the Ohio Turnpike. And, the completion of the Crocker/Stearns extension to I-480 is slated for late 2009, which will provide easy access to I-480.

Settlers Reserve has a great diversity of age groups: senior citizens; empty nesters; families with teenagers, grade schoolers, or pre-school/day care age groups; and families without children. This age diversity provides the opportunity for friends, no matter what stage of life one is in. There is definitely a sense of community spirit.

When walking in our neighborhood, one quickly gets a sense of community, with residents waving, smiling and saying hello. Settlers Reserve provides a sense of warmth and safety. It is common for one to see people taking walks late in the evening and running in the early morning hours.

Many residents have finished lower levels in and /or built additions to their homes, rather than leave our neighborhood. Your neighborhood experts have done both. We have a larger living area for our family without leaving the neighborhood we love. We would not consider leaving. Settlers Reserve is the best location in Westlake!!

Steve & Pat Pribisko

TEAM PRIBISKO

OPEN HOUSES ARE IMPORTANT FOR SELLERS IN A BUYERS' MARKET

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Mon, 28 Jul 2008 16:07:32 -0500

OPEN HOUSES ARE IMPORTANT FOR SELLERS IN A BUYERS' MARKET

Realtors^® used to quote the accepted statistic that only two percent (2%) of homes sell from Open Houses. The thought was that Realtors^®used Open Houses to find new Buyer clients to sell other homes on the market.

Flash forward to the Buyers' Market we are in today.... We have a glut of homes for sale on the market. Buyers are like "kids in a candy store" looking at as many homes as they can, both by themselves at Open Houses and with Realtors^®. Sellers need to have their homes "stand out from the crowd." One important way to do this is for Sellers to ask their Listing Realtors^®to hold Open Houses. Some Buyers won't contact their Realtors^®to view a home until they have previewed it at an Open House. As Buyers' Agents, we encourage our Buyers to view as many Open Houses as they can when we aren't with them.

Fact is, in a Buyers' Market, Sellers need to use every avenue possible to reach Buyers. Open Houses have become an important tool in each Seller's Marketing Plan.

How Realtors® Can Help Sellers Price Their Homes to Sell

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Sat, 14 Jun 2008 15:36:33 -0500

The current Buyers' market makes it essential for Sellers to correctly price their homes to sell. The listing price must reflect the condition of Sellers' homes and market value of their homes.

Realtors^® can help Sellers price their homes to sell by:

•1.) Recommending a professional staging consultation for the Sellers with a home staging professional. If the Realtor^® is an Accredited Staging Professional (referred to as an "ASP"), the Realtor^® may provide the staging services himself. Otherwise, the Realtor^® may recommend a staging consultation with a staging professional. This can be an add-on service paid by the Seller or a Realtor^® paid basic marketing service. The consultation will educate Sellers on how the condition of their homes may affect the market price of their homes and what steps can be taken to improve the condition of their homes and ways the condition can be improved.; and

•2.) Recommending a residential home appraisal prepared by an independent Licensed Appraiser. This can be an add-on service paid by the Seller or a Realtor^® paid basic marketing service a Realtor^® can provide to validate the Realtor's^® comparative market analysis. In addition, the appraisal will give Sellers an independent, professional viewpoint of the Current Market Value of their homes. The Licensed Appraiser will also explain how he determined the Current Market Value, such as using the same criteria a mortgage lender's appraiser will use to make a loan to a Buyer. Appraisers will take into consideration various criteria such as home condition, location, market conditions, recent comparable home sales prices, concessions Sellers may have made to sell their homes as "products for sale". It is also helpful for the Licensed Appraiser to meet with Sellers after the appraiser is made. The Licensed Appraiser can deliver the written appraisal in person and meet with Sellers to explain the appraisal and answer any questions the Sellers may have.

To help Sellers adjust to a Buyers' market, Realtors^® need to make additional, independent services available to Sellers, service providers who can make assessments and give advice to provide Sellers with information they need to set a reasonable listing price, which can shorten the market days Sellers' homes remain on the market.

STAGING A HOME FOR SALE IS CRITICAL!!!!

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Fri, 16 May 2008 18:15:02 -0500

In the Buyers' market we are in, staging a home for sale is critical. Staging is not interior decorating - far from it. You need to put your home in a condition that makes it appeal to a wide range of Buyers. Staging turns your home into a "product" for sale. Staging does not have to be expensive. Often what is needed is the purchase of staging supplies, some "sweat equity," decluttering each room, and "de-personalizing" a home (such as putting away personal photos and other personal items). There are times when some additional expenses are needed, such as: renting storage (a POD is an example) for excess furniture and clutter that is useful for the next home; the purchase of some new furniture that can be used at the next home, some of which can be assembled after purchase to save money; new, inexpensive cabinet handles, bathroom fixtures, or light fixtures; etc. But, sometimes staging can be as simple as rearranging furniture, moving furniture to different rooms, or removing excess furniture from the home (to storage for the next home or to donate to a charity). The most important part of staging a home for sale is to hire a Staging Professional to assess, direct and help with the staging of your home. If you do not hire an Accredited Staging Professional, you may make changes to your home that make your home appear worse or spend money on improvements that do not add to the value of your home. These are mistakes that you cannot risk! When you look for a Staging Professional, you will find a number of businesses that specialize in staging and have appropriate staging designations. They normally charge on a sliding scale depending upon the extent of services you select. However, you may not have the money to hire an independent Staging Professional. There is a fantastic alternative to an independent Staging Professional. Some Realtors are also Accredited Staging Professionals ("ASP"). If you hire a Realtor who is also an ASP, that ASP Realtor can act as your selling consultant and your Staging Professional. If such a Realtor agrees, the commission you pay may cover both services. (However, if there is significant staging to be done, the ASP Realtor may require reimbursement for expenses and time incurred.) If your Realtor is not an ASP, you may want to ask your Realtor to engage a Staging Professional to help you, at your expense or your Realtor may agree to pay for the Staging Professional from the Realtor's commission. It is important for Sellers to understand that the listing price for their homes needs to match the condition of their homes. The new "mantra" for selling a home is "condition, condition, condition." Staging a home is a major factor in selling a home in the shortest time and for the highest price possible. Because we are in a Buyers' market, Buyers are looking for homes that are "move-in ready." Sellers who stage their homes for sale have an advantage over the competing homes that have not. Staging gives Sellers an "edge." In the current market, every Seller needs that "edge."

This Is A Great Time To Buy & Sell - - REALLY!

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Wed, 23 Apr 2008 10:51:08 -0500

This Is A Great Time To Buy & Sell - - REALLY!
23 April 08 06:25 AM

Daily, we're being bombarded by bad real estate news from the media - - TV, talk radio, print, & internet. Real estate is a great fill-in when the media sources run out of major stories.

Let's look at some positive real estate news:

1. Interest rates remain at record lows.

2. There are many legitimate, specialized loan programs for first-time buyers, to make homes affordable. And, buying a home during a buyers' market means that owning a home may be more cost effective than renting.

3. If you are a buyer or a seller, remember that the the list price & terms are always negotiable; make the transaction a win-win.

4. If you are selling a home & intend to buy another home, do the math. Yes, selling prices, in general, are lower than they have been in recent years. However, you'll pay a lower sales commission in terms of dollars & certain related closing costs. And, the sales proceeds you receive should, in general, help you buy a home at a lower price than you would have in recent years, because of the "domino effect."

5. If you are a seller, don't shop for a real estate agent who will list your home at a price you dictate, unless you want to continue to own your home. Instead, keep an open mind. Have your real estate agent show you not only the sales price of comparable homes that have recently sold; but, also, the listing prices of comparable homes currently on the market for sale. Your real estate agent should, also, be willing to schedule appointments for you to view your competition's condition, so you can position your listing price to gain a market advantage. This will help you sell your home within a reasonable time given your market.

6. If you are selling a home, make sure you prepare it for sale. Preparing your home for sale means turning it into a "product" for sale. The buzz word for this "staging" a home. In a buyers' market, your home needs to be move-in ready. Buyers look for the best staged home in their price range. There are real estate agents who are also Accredited Staging Professionals ("ASP"). Consider retaining one of them or an independent ASP. No matter the listing price range of your home, it will sell more quickly if it is staged well. The condition of your home is a major factor in the time your home stays on the market and the price buyers are willing to offer.

FIRST-TIME HOME BUYERS

Pat & Steve Pribisko (Keller Williams Greater Cleveland West) — Sat, 13 Oct 2007 23:36:04 -0500

FIRST-TIME HOME BUYERS

If you are reading this blog, you are either thinking of buying your first home or have decided you want to buy. It is a great time to buy, with mortgage loan interest rates still at record lows.

In Northeast Ohio, we are in a Buyer's Market, which means that there are more homes for sale than buyers to buy them. In a Buyer's Market, you have many homes to choose from in every price range. And, with a Buyers' Agent (a real estate who represents you), you can visit many homes at one time, that Buyers' Agent can help you analyze the pluses and minuses of each home, and that Buyers' Agent can negotiate aggressively for the best terms possible when you are ready to proceed with a purchase contract. And, best of all, the Sellers pay the fee for your Buyers' Agent.

A specialty of Team Pribisko (Steve & Pat Pribisko) is representing First-time Home Buyers as Buyers' Agents. We will assist you in obtaining a loan approval, so you know what home price range you can comfortably afford. Then, we discuss in what neighborhoods you want look for a home and what you must have and prefer to have in the home you want to buy. After that, we send you information, by e-mail, of homes that meet your specific criteria. You select homes that you want to view and we set up appointments to show you the homes you select. We are available by cell phone 24/7. And, we are "no pressure" Buyers' Agents - - we will show homes to you until you find the home that fits your criteria.

Please contact Team Pribisko through our website http://www.AgentsWhoEarnYourTrust.com/ , email at pribisko@AgentsWhoEarnYourTrust.com, or by cell phone at 440-463-1726 (Steve) or 440-725-0910 (Pat).