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Expert Tips for Navigating the Real Estate Market

Our mission at The Michael Kaim Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Should You Buy Before You Sell?



If it makes sense for you to buy another home before selling your current one, here are a few tips to make the process easier.

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Should you buy a new home before selling your current one? The answer can depend on a few different factors, so here are some tips you can follow to help guide your decision and make the process easier.

First, talk to your lender to see if you can afford to purchase another property before selling your current one. If that’s the case and you feel comfortable with the numbers, feel free to make an offer on the property you want.

If you need to get the equity out of your current home in order to purchase your next home, it makes sense to list your current property right away and then make an offer on the next property after you’ve received an offer on the first one.

Talk to your lender to see if you can afford to buy before you sell.

You can also make an offer on a property that’s contingent on the sale of your first house and then list that house for sale. I don’t recommend this option, though, and there are three reasons why.

First, most sellers won’t even consider a contingent offer if you haven’t listed your property yet. Second, most agents urge sellers not to accept contingent offers because they don’t want to wait for another offer to come in and have to mark their listing as “contingent” instead of “active” and possibly lose out on a large number of buyers. Third, you risk having your offer turned down as soon as a non-contingent offer comes in.

If you have any questions about this or any other real estate topic, don’t hesitate to give me a call or shoot me an email. I’d be glad to help you.

Mid-2017 Northeast Ohio Real Estate Market Update



What’s the latest from our northeast Ohio real estate market? I’ve got the recent stats to share with you today.

Looking to buy a Home in Northeast Ohio? Search all Northeast Ohio homes for sale. Selling Your Home in Northeast Ohio? Use our home evaluation tool.

It’s halfway through the year 2017, and it’s time for a market update. So what’s going on in our real estate market?

Inventory continues to be low. That means if you’re a buyer, you have to be aggressive. Let your Realtor set you up on an auto-email that notifies you every time a new listing hits the market. Have your Realtor be aggressive in finding a home that suits your needs. Have them send email blasts, mailers, and go door-knocking in communities that you’re thinking about buying in. Find that house before it hits the market. Be creative when looking for a property.

You can call us, and we’ll help you find a property. We can give you a leading edge over other buyers who can’t find these houses before we do.

Inventory being low means home values are continuing to rise. Home values in the city of Cleveland have risen 9.9% over the last 12 months. That’s the largest increase that I’ve seen in my lifetime. The reason for this increase is that there has been over $19 billion reinvested into Cleveland by developers over the last seven years.

Inventory being low means home values continue to rise.

Akron home values are up 3.1%, and Canton has seen an increase of 8.9%. That’s fantastic. In the east, Mentor is hovering around 3% and Westlake has seen an increase of 6.3% in the last 12 months. If you’re a seller and you’re looking to sell your home, let us help you figure out what your home is worth and get it on the market.

Interest rates have been hovering right around 4%. In recent weeks, we’ve seen the Federal Reserve raise their rates for the banks that borrow from the Fed. I think what we’re going to see in the coming months is another increase in interest rates from lenders. That means it’s going to cost you more to purchase properties.

What that means for you as a homebuyer is that now is the time to find a home and lock in the lower interest rate for the life of your mortgage. If you’re selling, there is no better time than now to get your home on the market. Once the rates go up, it’s going to cost buyers more to purchase, and they aren’t going to be so willing to pay as much. That means that inventory will start to stack up and you’ll be facing more competition from other sellers to get your home sold.

If you have any questions or you’re looking to buy or sell a home, give me a call directly or send me an email. I’d be happy to help!

4 Tips for Finding the Best Home Inspector for the Job



You'll probably need to hire a home inspector when buying a home. There four tips will help you find the best inspector for the job.

Looking to buy a Home in Northeast Ohio? Search all Northeast Ohio homes for sale. Selling Your Home in Northeast Ohio? Use our home evaluation tool.

When choosing a general home inspector, follow these four tips to find a good fit:

1. Look for qualifications, certificates, specialties, and licenses: For example, if you're thinking of buying a home that has a lot of electrical issues, consider an inspector who is a state-certified electrician. If the house has structural issues, you might want to work with someone who has structural certifications. They should specialize in areas that fit the home's criteria.

2. Ask for a sample report: This will show you how their detail work is done. Some inspectors just take extensive notes that you might not be able to interpret completely without photos or a detailed report describing the issues with the property.

A sample report will give you a look at how they do detailed work.

3. Ask for references: They should be able to give you the names of past clients who can give references or testimonials. You can also search them on Google or the Better Business Bureau to see their reviews.

4. Make sure they're insured: If something happens after you buy the property, you want them to have liability insurance in case of bad direction or advice. The house could have a problem that you ended up having no idea about.

If you have any questions or you need a reference for a great home inspector, just give me a call or send me an email. I'd be glad to help!