13 Takeaways on the Real Estate Industry after 13 days of 2021!

13 Takeaways on the Real Estate Industry after 13 days of 2021!

13 Takeaways on the Real Estate Industry after 13 days of 2021!  

More than likely, 2020 is not going down as your favorite year.  It has such a nice ring to it, but didn’t exactly live up to the hype. BUT,  it is now behind us and it’s time to look forward. I don’t know about you, but I am hopeful and encouraged. Maybe that’s the new year’s resolution nostalgia that still hasn’t worn off, but nonetheless, I am going with it.

After only 13 days, here are 13 takeaways that are setting the tone for the start of the new year:
  1. Let’s start out with the obvious: This years Spring market is FREEZING! Yes, it might say January on your watch or Google calendar, but the Spring Market is here. Talk to any agent and they’re seeing a flurry in sales, closings and interest.
  2. Seller’s: Inventory is TIGHT! That is incredible news if you’re a Seller as your home should sell FAST if properly positioned, priced and marketed! If you’re thinking about selling, you need to be on the market NOW!!
  3. Buyers: Inventory seems even tighter! There are VERY few homes on the market, in fact, record lows. What does that mean? You need to be prepared by having your pre-approval in hand and a REALLY good advisor on your side.
  4. New Construction costs are rising! Most have heard about lumber costs rising, but other material shortages are driving up costs as well.  One of our clients says it best, there’s no better time to build than NOW (Credit: Bernie Kurlemann from Classic Living Homes). Costs will continue to rise so don’t wait until they get higher.
  5. Lots are hard to find! We know this first hand with our sourcing team working overtime to find out clients lots. The good news: we’re still finding them 🙂
  6. Land Values are Rising! Land has been slower to increase in value over the past several years, but we’re finally seeing it. Great news for developers and land sellers, but tougher to swallow for new home buyers as it’s pushing prices up.
  7. New Development is happening! There are all sorts of new communities in 2021! Some of our favorites are Peterloon Meadows (Indian Hill), Three Oaks (Oakley), Factory 52 (Norwood) and Chimney Ridge (Loveland).
  8. This is the last year of the current City of Cincinnati Tax Abatement! At the start of 2022, the tax abatement will be changing so get moving on your new City home! Link here for more information
  9. Median Home Prices are rising! This has been happening for the past several years, but we continue to see this. It may be at a more modest pace, but 3-4% is likely!
  10. Citirama is coming to Newport! We’re excited to see the Home Builders Association jump across the Ohio River to do an incredible show in Newport with incredible view. More news to come so watch our feed!
  11. Mortgage Rates are still at ALL TIME LOWS! This helps to offset the rising values and new construction costs.
  12. Baby Boomers are making moves. Call it what you want, downsizing or right sizing, but we’re seeing a surge in baby boomers making the move.
  13. Lock your doors, there’s another little Hines coming in the Spring 2021. This was just a test to see if you made it all the way to number 13.  But, seriously be careful, we’re really not in control any more.
As always, if you have any questions, thoughts, comments, or just want to say hello, don’t hesitate to reach out! We’d love to hear what you’re seeing in the market and what your experience is.
Thanks and Happy 2021!

Cincinnati Tax Abatement – Explained!

Cincinnati Tax Abatements… Explained!

** The Tax Abatement guidelines have changed since this was written in March of 2020* Please See Our Updated Video and article Here for the most up to date information.

 

If you’ve been living in the City of Cincinnati, chances are you’ve heard about the tax abatement for new construction and remodeled homes.  But, do you really know how it works??

Paul Yankie, President & CEO of Green Building Consulting sat down with us to give us a little crash course on the tax abatement & LEED Construction and why it’s been such a driving force in the Cincinnati residential real estate market.

Paul explains it best in our chat with him, but here are the main takeaways:

  1. The Cincinnati Community Reinvestment Area (CRA) Residential Tax Abatement, as it’s called, offers property owners the ability to minimize tax implications when you build, add-on or invest in your home.  This means that any improvements will NOT significantly add to the property tax bill.  You would only pay on the amount of “pre-improvement” value, up to $275,000.
  2. LEED Certification: This is the secret topping to the tax abatement. Basically, LEED Building = Green Building = Energy Efficiency.The City of Cincinnati is one of the BEST places to build a LEED certified home because it saves you even more money.  The higher the rating, the more money you save. LEED Silver allows for up to $400,000 abated, LEED Gold is up to $562,000 and LEED Platinum is UNLIMITED.  Of course, LEED comes with it’s extra building costs, but that’s specific to the home you build and how much money you can spend!
  3. Find a professional (a builder or Build Collective or Green Building Consulting) that understands the tax abatement and construction process.  They can help you determine what the best plan of action is for you.

Now that you’re armed with this information, doesn’t building and remodeling in the City sound that much better? Not only can you design a home specifically for you and your family, but you can save money in the process!

See How Much Money You Can Save on A New Home with Our Tax Abatement Calculator!

Tax Savings Calculator Here

Want Even More In Depth Information?  Visit the City of Cincinnati Site here

CONTACT US TO MEET WITH A TAX ABATEMENT EXPERT!

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8 Things To Do Now to Prepare Your Home to Sell

8 THINGS YOU CAN DO NOW TO PREP YOUR HOME TO SELL

Thinking of listing your home in the coming weeks or months? With so many of us spending far more time at home than usual right now, and actually looking for projects to keep up busy, it’s a great time to do a few things around the house that will really make a difference when you put your home on the market.

Here are eight things you can do right now to get your home ready to sell:

1. FOCUS ON CURB APPEAL

What’s the first thing someone notices about your home? Of course, it’s the exterior. Picking up garbage, doing a little pressure washing and making sure your gutters are clear can all add to that first impression of your home. Also, don’t forget about landscaping. Pulling weeds, planting a few flowers or even adding a fresh layer of mulch, can go a long way in upping your curb appeal.

2. DECLUTTER & PURGE

We all know how easily things can accumulate, but now is a great time to get rid of the clutter and unwanted items. Too many decorative pieces or even extra furniture in a room can make it feel small and crowded and that can make a buyer feel uncomfortable. You want a potential buyer to be able to envision themselves living in your home so do them and yourself a favor now by getting rid of the excess.

3. CONSIDER INTERIOR PAINT

Take this time to take a good look at your walls. Do you need to switch to a more neutral color? If you’ve updated some rooms, but still have that hot-pink bedroom or lime green kitchen, now is a great time to tone down that shade.

4. DIY MAINTENANCE

If you find yourself with loose faucets or shower fixtures or areas that need caulking, go ahead and make those repairs, if you are able. These are small things we can let slide in our day-to-day lives, but they almost always come up on an inspection report. You can take care of those issues now and save yourself a headache in the future.

5. ORGANIZE WARRANTIES & DOCUMENTS

Again, you can save yourself some time by getting all of these in order now because the new buyers will want them. Also, you don’t want to overlook something that could add value, like a transferable warranty

6. GIVE YOURSELF A SHOWING

Pretend you’re the buyer and take a tour of your home. Make sure to take notes on things that stick out to you or areas that need improvement.

7. CREATE A LIST OF IMPROVEMENTS & FAVORITE FEATURES

Remember the exterior lighting you added last year or the new sprinkler system? How about the open kitchen that you’ve enjoyed so much? Pointing out the enhancements and things that you’ve loved about the home can help the potential new buyers see that value as well

8. CLEAN!

Nothing feels better than a nice, fresh and shiny house. It instantly makes people comfortable and they will feel your house has been cared for and loved. So now that you have the extra time, make it sparkle!  Clean cabinets, baseboards, doors, and even the floors of closets.  We promise, everything you do now will be noticed!  And last but not least,  make it smell nice… because clean sells!

BOTTOM LINE:

If you’re ready to sell soon, take advantage of the extra time at home to prepare your home for the market.  Buyers will notice the effort and your house be the “new listing” getting everyone’s attention!

Making the decision to sell your home can be an overwhelming. Brandi Schildmeyer, at Build Collective, Coldwell Banker West Shell can help you understand the process and make sure you get the most for your home in the shortest amount of time. 

CONTACT BRANDI FOR MORE HOME SELLER TIPS!

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Working with Buyers & Sellers Durning Coronavirus

Working with Buyers & Sellers Durning Coronavirus

Working With Buyers & Sellers During the Pandemic 

Tune in to see how we’re working with our buyers and sellers during COVID-19. Mike Hines (Build Collective) joins Tim O’Brien (Zipfel Capital) and Dan Orner (First Title) on the latest procedures when it comes to home buying and selling to keep you safe and informed.

As the top real estate team in Montgomery, Ohio, we are committed to keeping you well informed so you can always make the best decisions for you and your family.

 

 

Call Us With Questions 

Have more questions?  Need to sell or buy a home soon but don’t know where to start during these ever changing times?  Please reach out to us!  Mike Hines is available to chat or email at anytime…. 513.260.0424 or [email protected] 

Real Estate Market Update & Covid 19

Real Estate Market Update & Covid 19

Real Estate During Covid 19 Outbreak 

Hot off the press! Mike and Brandi give an update on selling and buying real estate during COVID-19 in Cincinnati. Join us for tips on how to stay safe, but keep your business and clients moving forward. We’ll also go over featured listings, average sales price and days on market in Montgomery.

As the top real estate team in Montgomery, Ohio, we are committed to keeping you well informed so you can always make the best decisions for you and your family.

 

 

Call Us With Questions 

Have more questions?  Need to sell or buy a home soon but don’t know where to start during these ever changing times?  Please reach out to us!  Mike Hines is available to chat or email at anytime…. 513.260.0424 or [email protected] 

Support Your Local Businesses!

Support Your Local Businesses!

Support Our Local Businesses 

During these tough times, we wanted to share this information from the Montgomery Chamber of Commerce to show our support to our business neighbors and friends. We love being a part of this community where everyone is looking out for each other.  Hang in there everyone and stay safe! And let us know if we can help in any way!

Restaurant
Contact
Offer
Call (513) 793-9463 or text (616) 635-5109 Tues-Thurs 12:00-6:00 pm & Fri-Sat 1:00-7:00 pm
Carry out & delivery; case discounts on 6 bottles of wine through March
Call (513) 745-9568 11:00 am-8:00 pm or DoorDash
Full menu for carry out; retail wine ½ price, carry out only
Call (513) 231-5555 Tues.-Sun 4:00 pm-10:00 pm
Full menu for carry out; wine at state minimum
Curbside take out
Soup(er) Delivery
Closed through March
 
(513) 802-5500
Carry out, Door Dash & GrubHub
(513) 502-6212
Curbside pickup and carry out
(513) 718-9173
Carry out beer and liquor 9:00 am-5:00 pm
(513) 984-6467
Delivery & carry out
MontgomeryInn.com or (513) 791-3482 11:00 am-8:00 pm
Delivery, pickup, and catering
Ordercitybbq.com
Free delivery for orders over $25
(513) 815-6641
Car delivery, Door Dash, and GrubHub
Vinaigrette app
Order on app and pickup in store; text (513) 426-6499 for curbside pickup; 5 mile delivery radius
(513) 489-1411
Phone orders with 2 hour pick up 9:00 am-5:00 pm
(513) 489-7044
Carry out, catering, gift cards
Jettspizza.com or (513) 793-4488
Carry out and delivery
(513) 791-0900
Carry out and delivery
 (513) 530-9464 
Carry out, Door Dash, and GrubHub

 

 

    

 

10 Reasons to Love Montgomery

10 Reasons to Love Montgomery

10 Reasons to Love Montgomery! 

It’s hard not to love Montgomery! We loved it so much we moved our offices here in the beginning of 2019 and hope to call Montgomery home for many more years.

But what makes Montgomery so great? As real estate agents, it’s an easy community to sell once you’re here. However, if you haven’t had the opportunity to experience all that it has to offer, here’s our 10 favorite things about Montgomery…

1. The Location

Situated conveniently between I-71 and I-271, Montgomery is nestled in between great communities like Indian Hill and Blue Ash with connectivity to pretty much anywhere you would want to go. It’s a little slice of heaven that’s only 15 minutes from Downtown and a straight shot down I-71 at that if you need your urban fix!

2. The Schools – Sycamore School District

Of course, real estate agents can’t speak to how great a school district is other than sharing the ratings. So, we’ll just say that it’s rated #22 in Ohio and #535 in the Nation by US News. With those ratings, it’s not surprising that the schools are a big draw to new residents.

3. Downtown Montgomery

Ask anyone and they’ll agree that the Heart and Soul of Montgomery, besides the people, is it’s Downtown. As I write this, I sit in the center of it all and often capitalize on what it has to offer by walking to lunch with our team. On any given week or weekend day, you’ll see a bustling downtown full of friends, neighbors and visitors

4. Local Shopping & Eating

Where do we start here? Too many places to mention, but we’re suckers for Z Wine Place, Toast & Berry, & Napa Kitchen and BTW, have you checked out the CBD Store?

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5. Parks

We are lucky to have 6 parks within Montgomery, consisting of 96+ acres. Each park offers it own unique feel and amenities, but what makes these parks even better is that they are connected by over 10 miles of sidewalks, allowing easy access for all residents. Many parks have picnic shelters which can be reserved by Montgomery residents for their own personal use.  Pretty Awesome!!

6. Walkability

How do you get to those lovely parks? Well you don’t have to use the car if you don’t want to! With miles upon miles of sidewalks and walking trails, you can get pretty much anywhere. And with the bricked streets of Downtown, its the perfect set up for strolling after a meal or shopping!

7. Montgomery Quarter

Starting in 2020, the entry way to Montgomery is going to change dramatically! We will have a new roundabout to improve traffic patterns at Montgomery RoadRonald Reagan Cross County Highway.

The City of Montgomery is also redeveloping the currently vacant area with office, retail, hotel, and residential. We can’t wait to watch it all take shape!

8. Large Pretty Lots

As home geeks, it wouldn’t be right if we didn’t talk about the neighborhood and its homes. With gorgeous settings, large established trees, and of course, charming homes, Montgomery is an easy place to drive around and admire. The terrain and character is one of the main draws that sucks people in!

9. Mixture of Homes & Price Points

Montgomery is the last place you could call Cookie Cutter! With homes dating back to the 1800s and others built in 2020, you can appreciate architecture of all kinds. We absolutely love the variation in price points and style type.

10. And Last, But Not Least… The Camaraderie!

If you live in Montgomery, it’s hard not to run into someone you know. That person might be Father Mike that runs along Montgomery Road everyday or our office dog, Pepper! Best of all, we look out for each other, enjoying hanging out together, and supporting each other.

Ready to Move to Montgomery?

The team at Build Collective, Coldwell Banker West Shell can help you buy or sell a home in Montgomery!  We grew up here, we work here, and we are the top real estate team in Montgomery. Contact us at 513.686.7676 to get your new home journey started or click below to see the current homes available in the area!

See Montgomery Homes for Sale

Sell Your Home in the Winter

Sell Your Home in the Winter

Sellers Wanted! Three Reasons Why Winter is A Great Time to List Your Home

While the weather out there is screaming WINTER, the market says SPRING!
With the holidays behind us, it’s time to get serious about listing your home. There’s no need to wait for warmer weather; getting your home on the market first can also mean getting it sold FIRST. 

Top 3 reasons to list NOW:

1. Buyers are hunting, and less inventory means MORE attention for your listing.

You’ve heard of the theory of supply and demand. With fewer choices on the market, there’s a greater possibility buyers will be giving your home a look (or a second, maybe even a third). Is it a great fit? Let’s hope. If it’s not, they’re more likely to consider making adjustments rather than waiting for the perfect house to come along. Winter-time lookers tend to be more serious. Give them something to look AT (and never end a sentence with a preposition).

2. Lower inventory can also lead to HIGHER SALES PRICES!

“I want to sell my house for a lower amount.” (said no one ever). Put your house on the market now and you’re more likely to get full to above market value. Why? One word: competition. You don’t have as much. With fewer houses on the market, potential buyers have fewer options to compare and are less likely to negotiate aggressively.

3. Less business can lead to a SMOOTH TRANSACTION.

Everyone gets busy during the spring and delays can be a huge frustration for both buyers and sellers. With fewer transactions occurring during the winter months, lenders, appraisers and inspectors have more time to focus on your property. Bypass those long lines. Get your house on the market early and put your listing in the express lane.

Bottom line:

If you’re ready to sell, there’s never a bad time to list your home, but don’t procrastinate (keep that New Year’s resolution). The buyers are ready and waiting. Let your house be the “new listing” getting everyone’s attention and let us show you how to do it.

Making the decision to sell your home can be overwhelming. Brandi Schildmeyer, at Build Collective, Coldwell Banker Realty, can help you understand the process and make sure you get the most for your home in the shortest amount of time.

Finding A New Nest: An Empty Nester’s Search for a Home

Empty Nester. Lifestyle Living. Moving Down. Right Sizing…What best describes what you and what you’re looking for?

Like it or not, these are all just fancy marketing names for all you baby boomers looking for a new home to fit your new lifestyle. Whatever you or they call it, you’re just ready to shed the home that you raised your kids in for something more your current style

So what’s important to you in a new home? One misconception that we always hear from non empty-nesters (like their kids!) is often that this move is ONLY about one floor living so you can get around easier now or in the future. Don’t get us wrong, we know this is a big part of it, but we know that’s not the only driver! The fact is that you are looking for a location to capitalize on this new found freedom. We’ve helped dozens of empty nester buyers looking for a new home and most often, the number one drive in their search is location because they want to be surrounded by things to do. Restaurants, walking trails, shopping, etc. so they can take advantage of the time they used to spend on their kids. This might not be in every case, but we’re seeing it more often than not!

Happy smiling family relaxing in autumn park

Of course, in addition to location, we know that you’ll be thinking about things like:

  1. Function Living Spaces – One floor potentially or maybe a future elevator
  2. No or Low Maintenance – Lock it and Leave it!
  3. Close to your kids: Lets face it, we might need you guys more than ever!

NOW, HOW DO YOU FIND IT?

Even though you have the exact idea of what you might want, finding it is a different story!  The search can be difficult because of the lack of options and inventory. That’s often why people come to us because of our less conventional ways to go about the search!

In fact, to make it a bit easier on you, we’ve outlined a few tips on how to go about your search:

EXISTING HOMES:

Most Buyers start off searching for Existing Homes because it’s the path of least resistance. It would be ideal to find a ranch style home with one floor living, minimal steps and that’s fixed up enough that you won’t have to do much to it. However, you’ll see that the inventory of homes like this is slim. Take Montgomery for example. Of the 51 single family home listings in Montgomery, only 7 are ranches, and of those 7, only 3 are existing homes.

TOWNHOMES & CONDOS:

Condo living is fantastic! You can lock it and leave it since there’s NO maintenance.  In areas like Montgomery, Blue Ash, Oakley, Hyde Park, there are quite a few new condo developments (and existing ones) to choose from. For instance, the Allora on Madison is an excellent example of a new community that has been a magnet for empty nester buyers. With low HOA fees, elevator options and located smack dab in the heart of Oakley, this development literally checks ALL boxes!

As you look as these options though, there’s a few key items to consider:

  1. HOA fees – These can range monthly from $100 to well over $600 so keep an eye on what they cost and what’s included!
  2. Functionality and size of your floor plan – If you’re coming from a larger single family home think about the culture shock of going from 4000 ft to 2000 ft.

In addition to the Allora, here’s a few links to some other options that are available now:

NEW CONSTRUCTION

We wouldn’t be called Build Collective if we didn’t mention at least a couple of new construction options! Take for example Orchard Trail in Montgomery. Designed for lifestyle living, this community caters to the empty nester crowd by designing ranch homes, an all inclusive HOA and maintenance fee and plenty of room for outdoor entertaining without the burden of taking care of more than you need.

Things to keep in mind:

  1. Cost Per Square Foot – Ranches tend to be more expensive because all or most of the living is on the first floor!
  2. Lot Width – This is the most important feature to consider if you’re looking at lots!
  3. Timing – Make sure you have adequate time to build, which can take anywhere from 6-10 months nowadays with the tight labor market

Here’s a Few Options to Consider:

Whichever option you choose, try to think through the transition and location. It’s also key to keeping an open mind. Sometimes the best options never cross your mind until they’re right in front of you!

And, as you search, we’re hear to help. Having a good agent on your side is pivotal as they can find ferret out options for you and make your purchase MUCH smoother.

Download Our Guide to Moving Down to help you as well!

Download PDF Flyer

Making the decision to buy or sell a home can be an overwhelming. The team at Build Collective, Coldwell Banker West Shell can help you understand the process and make sure you get the most for your home in the shortest amount of time. Contact us at 513.686.7676 to get your new home journey started!

Finding A New Nest: An Empty Nester’s Search for a Home

Finding a New Nest: An Empty Nesters Search for a New Home

Empty Nester. Lifestyle Living. Moving Down. Right Sizing...What best describes what you and what you’re looking for?

Like it or not, these are all just fancy marketing names for all you baby boomers looking for a new home to fit your new lifestyle. Whatever you or they call it, you’re just ready to shed the home that you raised your kids in for something more your current style

So what’s important to you in a new home? One misconception that we always hear from non empty-nesters (like their kids!) is often that this move is ONLY about one floor living so you can get around easier now or in the future. Don’t get us wrong, we know this is a big part of it, but we know that’s not the only driver! The fact is that you are looking for a location to capitalize on this new found freedom. We’ve helped dozens of empty nester buyers looking for a new home and most often, the number one drive in their search is location because they want to be surrounded by things to do. Restaurants, walking trails, shopping, etc. so they can take advantage of the time they used to spend on their kids. This might not be in every case, but we’re seeing it more often than not!

Of course, in addition to location, we know that you’ll be thinking about things like: 

  1. Function Living Spaces – One floor potentially or maybe a future elevator
  2. No or Low Maintenance – Lock it and Leave it! 
  3. Close to your kids: Lets face it, we might need you guys more than ever!

Now, How Do You Find It?

Even though you have the exact idea of what you might want, finding it is a different story!  The search can be difficult because of the lack of options and inventory. That’s often why people come to us because of our less conventional ways to go about the search! 

In fact, to make it a bit easier on you, we’ve outlined a few tips on how to go about your search:

Existing Homes:

Most Buyers start off searching for Existing Homes because it’s the path of least resistance. It would be ideal to find a ranch style home with one floor living, minimal steps and that’s fixed up enough that you won’t have to do much to it. However, you’ll see that the inventory of homes like this is slim. Take Montgomery for example. Of the 51 single family home listings in Montgomery, only 7 are ranches, and of those 7, only 3 are existing homes.

Townhomes & Condos:

Condo living is fantastic! You can lock it and leave it since there’s NO maintenance.  In areas like Montgomery, Blue Ash, Oakley, Hyde Park, there are quite a few new condo developments (and existing ones) to choose from. For instance, the Allora on Madison is an excellent example of a new community that has been a magnet for empty nester buyers. With low HOA fees, elevator options and located smack dab in the heart of Oakley, this development literally checks ALL boxes! 

As you look as these options though, there’s a few key items to consider: 

  1. HOA fees – These can range monthly from $100 to well over $600 so keep an eye on what they cost and what’s included!
  2. Functionality and size of your floor plan – If you’re coming from a larger single family home think about the culture shock of going from 4000 ft to 2000 ft.

In addition to the Allora, here’s a few links to some other options that are available now:

 

New Construction

We wouldn’t be called Build Collective if we didn’t mention at least a couple of new construction options! Take for example Orchard Trail in Montgomery. Designed for lifestyle living, this community caters to the empty nester crowd by designing ranch homes, an all inclusive HOA and maintenance fee and plenty of room for outdoor entertaining without the burden of taking care of more than you need.  

Things to keep in mind:

  1. Cost Per Square Foot – Ranches tend to be more expensive because all or most of the living is on the first floor!
  2. Lot Width – This is the most important feature to consider if you’re looking at lots! 
  3. Timing – Make sure you have adequate time to build, which can take anywhere from 6-10 months nowadays with the tight labor market

Here’s a Few Options to Consider:

Whichever option you choose, try to think through the transition and location. It’s also key to keeping an open mind. Sometimes the best options never cross your mind until they’re right in front of you! 

And, as you search, we’re hear to help. Having a good agent on your side is pivotal as they can find ferret out options for you and make your purchase MUCH smoother.

Download Our Guide to Moving Down to help you as well!

Download PDF Flyer

Making the decision to buy or sell a home can be an overwhelming. The team at Build Collective, Coldwell Banker West Shell can help you understand the process and make sure you get the most for your home in the shortest amount of time. Contact us at 513.686.7676 to get your new home journey started!