Ohio housing market achieves best-ever rate of sales during February

By Carl Horst, OAR Director of Publications/Media Relations

The rate of homes sold across Ohio in February rose 5.8 percent from the level posted during the month a year ago, according to the Ohio Association of REALTORS.

“The housing market across the Buckeye State was extremely solid in February, as the rate of sales activity reached the highest mark for the month since Ohio’s REALTORS began tracking activity in 1998,” said OAR President Pete Kopf. “We’re also experiencing continued gains in the average price, an indication that housing is a solid, long-term investment.

“As we move into the traditional spring home buying season, Ohio’s REALTOR community is hopeful that we’ll see an increase in the number of homes being marketed for sale,” Kopf added.

February’s average home price of $152,236 reflects a 7.3 percent increase from the $141,890 mark posted during the month last year.

Sales in February reached a seasonally adjusted annual rate of 148,826, a 5.8 percent increase from the 140,677 level during the month a year ago. The market experienced a slight 1.1 percent decline in sales from January’s seasonally adjusted annual rate of 150,431.

Around the state, the average sales price increased in 15 of the 18 markets tracked. A total of eight markets experienced an uptick or remained unchanged in total sales activity.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS, with more than 30,000 members, is the largest professional trade association in Ohio.

Happy St. Patrick's Day!

How about a Patty's Day Real Estate Trivia!?! .... Do you know which city has the largest % of Irish-Americans in the USA?

.
.
.

.

.

Here is you top 5 cities engulfed in Irish Luck!  

☘️Manchester, N.H.: 19.4%
☘️Lowell, Mass.: 17%
☘️Pittsburgh, Pa.: 16.2%
☘️Naperville, Ill.: 15.9%
☘️Cedar Rapids, Iowa: 15.4%

In the Doghouse: Tips for Homeowners with Dogs!

Homeowner Tips

Studies show that pet ownership is at an all-time high and industry spending increases with every passing year. It’s been estimated that by 2019, the pet industry will hit $90 million in sales. According to the 2015-2016 APPA National Pet Owners Survey, 65 percent of U.S. households own a pet, which equates to 79.7 million homes. This means that chances are many of our clients have a dog. Below are some helpful tips for all you pet lovers!

Fencing. A fenced-in yard is essential for dog owners. Your fence should be sturdy, at least 6 feet tall and escape-proof. Fence styles and budgets may vary, but it’s widely recommended to have a solid fence. Solid fences can reduce barrier frustration, alarm barking, and will keep outside animals from coming into your yard.

Crate, kennel run or exercise pen. Inevitably, there are times when your dog needs to be safely contained – during an open house, for example. Having a safe containment area that your dog enjoys and is familiar with is an invaluable feature in your dog’s home.

Eliminate hazards. Inspect your home and yard for potential dangers to your dog that could result in choking, strangulation, electrocution, suffocation or poisoning. These can be even more common during home renovations, so always double-check the home and yard during and after repairs and remodels. Other things to tend to year-round include shortening window cords, covering wires, securing loose boards, hammering down nail heads, and restricting access to areas that harbor poisonous items, such as the garage, cupboards and under the sink.

Pet-scape your home and yard. Identify which indoor and outdoor plants are toxic to dogs. Fertilizers and insecticides are hazards and commonly factor into toxic reactions in dogs. There are many resources available online which list the most frequently encountered poisonous plants and products. 

Decorate with leashes. Exercise is a key ingredient to your dog’s physical and mental well-being. A wall-mounted pet organizer that holds your dog’s collar, leash, doggie bags, treats and other items will keep necessities tidy and within arm’s reach, and can offer a nice decoration in your home.

Mind the stairs. As dogs age and arthritis makes getting around more difficult, a ramp is a great solution for mobility ease. Dog ramps come in various styles and heights, and if you’re a DIYer, you can custom-build one to your exact specifications.

Tips for New Construction. If you’re planning your home with your pets in mind, go with flooring material that’ll clean easily, withstand scratches, and provide decent traction. Carpets are more challenging to keep clean, especially light-colored rugs since they trap pet hair, dander, allergens and dirt. There are no shortages of dog-friendly accommodations: homes are being designed and renovated with the comfort of resident dogs in mind.

Home pet spas are on the rise. These pet spas are built as add-ons or are renovated into existing rooms in the house, oftentimes within mud rooms or bathrooms. There are as many styles and varieties as the imagination can conjure up. Typically these spas are in close proximity to the outdoors and contain washers/dryers. They’re often decked out with hot and cold water, enclosed shower areas with easy walk-in access, flexible showerheads, cupboards for necessities and easy-to-clean flooring. They are considered a handy luxury that any dog owner can get behind. 

Dog owners: What accommodations or features do you have or want in your own home? Share your ideas and comments below.

What Every Home Owner Should Know About Home Warranties

Pros and Cons

For most people, a home warranty offers peace of mind in the instances of unforeseen problems. A home warranty can also reduce the frustration that often comes with attempting to find the best service company for the problem. 

Home warranties are designed to protect homeowners from unexpected repair costs for major appliances. Generally speaking, home warranties are ideal for homes with appliances over four years old. Warranties for new homes are supplied by builders and will typically cover any structural defects for up to a decade. Other items such as air conditioners, drywall, paint, plumbing, and electrical work may be covered anywhere from six months to two years.

For existing homes, warranty coverage options vary but include things such as interior plumbing, heating, electrical systems, water heaters, dishwashers, stoves, washer/dryers, refrigerators, air conditioners, garage door openers, pool equipment, garbage disposals and spa equipment. 

Agents beware: Not all home warranties are beneficial; there are a number of limitations and exclusions which may apply. Claims have been denied because the company says the problem was pre-existing or because the consumer couldn’t prove that the broken item was properly maintained.

Make sure to encourage your clients to research top companies with the most reliable and trustworthy track records. 

Home warranty research tips to deliver to your clients: 

• The Better Business Bureau recommends that consumers verify a company’s licensing by contacting your state’s real estate commission.
• Read documents thoroughly. Some providers hide their exclusions and limitations in the fine print. Read every word of the contract and understand the pros and cons of the policy.
• Ask specific questions regarding what is and what is not covered in the warranty.
• Understand the coverage limits. You will be able to select which appliances and systems you want covered, but there will be exclusions on these items.
• With older homes, many warranties exclude routine problems that have occurred because of improper maintenance.

• Do the math. Consider the deductible and any additional service fees attached to repair calls and contractors.
• Source the contractors. Most warranty companies utilize their own network of service contractors while others allow you to hire your own. If you hire your own service contractor, you will want to know if you will be reimbursed for that work.

What to look for when choosing a home warranty company:

• Options in coverage plans. Most companies will offer a basic plan and an enhanced plan. If a company offers a hybrid plan, consider that a positive.
• Customizable and specialized add-on plans (including pools and septic systems) are even bigger perks.
• Customized service and deductible fees allow consumers to control the cost of their plan.
• 24-hour claims department
• Ease of claim quote process
• Licensed

Home warranty plan prices depend on properties and what items your clients choose to have covered. Basic plans typically range from $350 to $650 a year. Additionally, there will be deductible and/or service fees to consider.

To help determine whether a home warranty is right for your clients, make sure they read every word of the contract before signing. Home warranty policies are meant to protect homeowners from having to pay big bucks for unexpected repairs. After understanding the pros and cons your clients may find that a home warranty is worth the peace of mind.

Welcome to SMT Realty with Keller Williams Legacy Group!

Welcome to our Website! We are thrilled you stopped by and looking forward to sharing with you all of the latest real estate activity in Northeast Ohio! Stay Tuned as we ground ourselves for take off!