The housing market is hot, and while that may be great news for those listing their homes, for buyers, the frustration is real. Week after week, house after house, they’ve grown accustomed to the phrase…”we’re now in multiple offers.” A great looking, well-cared-for and most importantly, well-priced house, is creating quite the frenzy for those out searching for their next home in this low inventory seller’s market.
When demand outweighs supply, there are a few things you can do to get ahead in this competitive market:
FIND A WELL QUALIFIED BUYER’S AGENT: Along with obtaining a strong financing pre-approval, this is the first step in getting closer to the home of your dreams. Ideally, you want an agent who has dealt with multiple offer situations before and knows several strategies to help you win. Overall, it can come down to what you’re willing to pay. As a buyer’s agent, I would never encourage a client to overpay for a home, but I can offer advice to help get you to the “right” price.
MAKE A STRONG INITIAL OFFER: Yes, we’re starting with the $$$. In most cases, this is what it comes down to. Sellers usually want the best possible price they can get for their home. Still, it doesn’t mean the highest offer will always be the winning offer. Along with the purchase price written in the contract, you can also consider asking your agent to include an escalation. This is an addendum to the contract stating that you will pay a set amount over the highest written offer up to the limit you set.
HAVE YOUR AGENT ASK ABOUT THE SELLER’S NEEDS: Is there an occupancy time that would work best for them? Do they need a quick close? Ultimately, the offer that best fits the needs of the seller is the offer that will win.
CONSIDER WAIVING CONTINGENCIES OR KEEP TIME FRAMES SHORT: While I can’t recommend skipping an inspection, some buyers are waiving the inspection as a contingency and accepting the house “as is.” The same goes for the appraisal. There is a concern when a house sells far over listing price that might not appraise. In a multiple offer situation, the buyer could offer to pay the difference between the appraisal value and the purchase price should the appraisal come in lower.If you don’t want to waive the contingencies all together, it can be a good idea to keep the inspection and settlement period as short as reasonably possible
DON’T ASK FOR EXTRAS: A multiple offer situation is not the time to throw in a lot of extras like closing costs, a home warranty or appliances or furniture. It’s best to keep the contract as clean as possible.
GET A PLUG FROM YOUR LENDER: Have your mortgage person CALL the agent to tell them how well qualified you are. Even if they just leave a message it can help.
GIVE IT YOUR BEST EFFORT: As mentioned before, having a strong pre-approval to back your offer can help the seller feel much more confident in your ability to purchase their home. You can also add to the amount of earnest money you would normally offer to show a strong interest and commitment to following through with your offer. If possible, consider a cash offer. While cash isn’t always king, it does make for a very compelling offer and a streamlined purchase process that can be hard to top.
STAY CALM: It can be easier said than done, but the best advice I can give to my clients is to present the strongest offer they can to help get the house they want at a reasonable price that falls within their budget. While it can be difficult to remaIN unemotional about these decisions, you have to keep it in perspective. Offering more than you’re comfortable with paying or forgoing important contingencies can lead to regret down the road.
Build Collective is Here to Help Home Buyers Every Step of the Process
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:
Function Living Spaces – One floor potentially or maybe a future elevator
No or Low Maintenance – Lock it and Leave it!
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:
HOA fees – These can range monthly from $100 to well over $600 so keep an eye on what they cost and what’s included!
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:
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:
Cost Per Square Foot – Ranches tend to be more expensive because all or most of the living is on the first floor!
Lot Width – This is the most important feature to consider if you’re looking at lots!
Timing – Make sure you have adequate time to build, which can take anywhere from 6-10 months nowadays with the tight labor market
Montgomery – 10432 Radabaugh – (This lot is tremendously wide & perfect for a ranch!)
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!
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 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:
Function Living Spaces – One floor potentially or maybe a future elevator
No or Low Maintenance – Lock it and Leave it!
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:
HOA fees – These can range monthly from $100 to well over $600 so keep an eye on what they cost and what’s included!
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:
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:
Cost Per Square Foot – Ranches tend to be more expensive because all or most of the living is on the first floor!
Lot Width – This is the most important feature to consider if you’re looking at lots!
Timing – Make sure you have adequate time to build, which can take anywhere from 6-10 months nowadays with the tight labor market
Montgomery – 10432 Radabaugh – (This lot is tremendously wide & perfect for a ranch!)
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!
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!
The Mason area continues to be a hot spot for new construction, and for good reason! With a top rated school district, an abundance of recreational outlets nearby, a wide variety of shopping and dining, and close proximity to I-71 and I-75, new home buyers consistently add Mason to their top choice for a new home. As the 2109 selling season goes into full swing, we wanted to give you a brief outline of three of the most popular New Home Communities in Mason.
For more information, contact Mike Hines at 513.260.0424 or Jan Gerding at 513.608.3770 at Build Collective at Coldwell Banker West Shell. They can get you started on building your perfect home in 2019!
With land prices going up across the board along with building costs, townhome living has become increasingly attractive to all sorts of buyers. Townhome living is nothing new as they’ve been around for decades, but recently, options are becoming more and more prevalent.
Now, it might be obvious, but what is a townhome? If you Wikipedia it, the history of a townhome is quite interesting considering why people often decide to live in a town home:
In the past, “a townhouse was the city residence of a noble or wealthy family, who would own one or more country houses in which they lived for much of the year. From the 18th century, landowners and their servants would move to a townhouse during the social season.”
It’s funny to see that even in the past, people we’re attracted to townhomes because of the social component. That couldn’t more true today. Since townhomes are typically vertical in nature with multiple floors of living, they tend to be clusters with many units in one complex. This can be very desirable when located around vibrant and bustling areas where buyers are looking to capitalize on their surroundings rather than focus on maintenance of their homes.
And, with pricing going up across the board and demand for living options near these walkable districts at an all time high, townhomes are becoming a great option when zoning allows. In the near future, we see townhomes and more dense units hitting the market in an effort to create more “affordable” or workforce housing options.
So, lets take a look at some of the top townhome projects in the works near in Cincinnati.
BROADWAY BROWNSTONES in Loveland
Priced from $399,000 • 1,900 Sq. Ft. • Only 1 Unit Left!
The Broadway Brownstones are located directly on the Little Miami Bike Trail in Downtown Loveland. With an bustling downtown district with Breweries, restaurants, candy shots, and an awesome new jewelry shop (shout out to Welling and Co!), Loveland is a force to be reckoned with! Dont miss the chance to live at Broadway Brownstones. Only One Unit Left… Builder Model! Check out the full website here
THE ALLORA ON MADISON in Oakley
Priced from $495,000 • 2,000 Sq. Ft. • Only 4 Units Left!
The Allora has been one of the top selling townhome project in the Cincinnati area. It’s no surprise through given that it’s in the core of downtown Oakley next to St. Cecelia and steps from the Madtree, Crossroads, and pretty much every possible convenience you could ask for. Check out the available units here
PARK MANOR in Blue Ash
Priced from $600,000
Luxury living in the heart of Blue Ash! Luxury, Convenience and Carefree living in a beautiful master planned community that offers something for everyone. Learn more about the Park Manor Townhomes here!
If you find that townhome living sounds like the perfect solution for you, reach out to us! We can give you more information on the featured townhomes above, or help you find another community that is perfect for you!
