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Knox County Ohio Blog

Sam Miller

Knox County Ohio Blog

Sam Miller

Blog

Displaying blog entries 211-220 of 261

Quality Photos Set My Listings Apart

by Sam Miller

Knox County Ohio is a very competitive community when it comes to selling residential real estate.  There are a tremendous number of homes currently on the market and the reality is that many of these homes will remain unsold.  Most people believe the reason a home doesn't sell is strictly due to the listing price but the reality is that it is often a result of weak marketing and bad photos.  

Bad Real Estate Photo

 

 

 

 

 

 

 

 

 

 

 

This is an example of how many homes appear on real estate websites and inside the Knox County MLS.  The quality of this very dark photo is actually not uncommon especially when viewing the interior photos of homes and their virtual tours.  Dark photos are not inviting and they tend to make the rooms look much smaller.  Home buyers are not attracted to homes that look or feel dark or small.  A photo like the one above can instantly eliminate buyer interest in your home and it will generally cause your home to remain on the market longer and it can cause your home to remain unsold.  The bottom line is that poor photos can hurt your home sale. 

Sam Miller Real Estate Interior Photo Example

 

 

 

 

 

 

 

 

 

 

 

The difference between the upper and lower photo is very obvious.  There is no doubt that if the home owner had a choice between these two photos they would select the 2nd photo over the top photo every time.  The reality is that sellers always have this choice available and they should select their real estate professional based on the the number of homes the agent has  sold, the agents track record and their reputation, their use of technology to attract interested buyers, the quality of their photos, virtual tours, videos, websites and make sure you choose your agent based on the agents ability to market your home. 

Here is a helpful online blog article that highlights the difference between photos taken with a basic digital camera lens angle, a slightly wider angle lens and an ultra wide angle 10 mm lens.  You will be blown away by the differences an ultra wide angle lens can offer.  This is a must see photo comparison because once you see the photos you will understand why you should ask your agent what type of camera and lens they use when marketing your home.

Sam Miller 

Gambier Ohio and Kenyon College Home

by Sam Miller

Desirable and Exclusive Kenyon College and Gambier Ohio Location.

One of the most gorgeous treed settings near the Kenyon college campus and within a short walk of the Kenyon Bookstore.  This home is much larger than it looks and features an impressive room addition with an enlarged family room plus a multi-room home office suite.  

For more detailed information, the current price, interior photos and to view a virtual tour of this Knox County Ohio home please visit 103 West Woodside Drive, Gambier Ohio

Gambier Ohio and Kenyon College Home


How To Attract More Buyers For Your Home

by Sam Miller

The real estate market in America has changed more in the past year than I believe it changed during the prior 10 years combined.  The number of ready, willing and capable buyers today is at the lowest level I have seen while the number of homeowners who truly need to sell their homes is approaching record levels.  This translates into fewer buyers buying while a greater number of homes remain on the market unsold.  

Years ago many real estate professionals bought into a concept that I like to call the real estate K'Mart pricing method.  Instead of pricing a home at $200,000 they would price it as $199,900 because they thought it sounded better.  The real estate landscape has since changed dramatically and with the addition of consumer friendly online MLS systems and the real estate listing websites that allow consumers to search for homes...that same $199,900 listing price will now eliminate 50% of your buyers instantly and here's why:

  • $199,900 is an odd number price and home buyers do not generally search for anything other than even number prices such as $100,000, $125,000, 150,000, $175,000, $200,000, $225,000, $250,000, $275,000, $300,000 and so on.
  • A home priced at $199,900 will only show up on a search of $150,000 to $200,000 and it will be invisible to anyone looking at $200,001 or higher.  
  • When your home is priced at $199,900 it won't show up when a buyer is searching for homes priced at $200,000 to $250,000 and it won't show up when they are searching for homes that are priced between $200,000 to $300,000.
  • By pricing your home at $200,000 you will instantly connect both price ranges together and this is where the name "Price Bridging" comes from.  The $200,000 listing price can quickly and effectively double the number of buyers who will be exposed to your home.
This price bridging method can be beneficial to you regardless if your home is valued at $50,000 or $500,000.  If you are interested in obtaining the maximum exposure for your Knox County Ohio home we are only a phone call away.

Sam Miller
RE/MAX Stars Realty
(740) 397-7800

How To Attract More Buyers For Your Home

by Sam Miller

The real estate market in America has changed more in the past year than I believe it changed during the prior 10 years combined.  The number of ready, willing and capable buyers today is at the lowest level I have seen while the number of homeowners who truly need to sell their homes is approaching record levels.  This translates into fewer buyers buying while a greater number of homes remain on the market unsold.  

Years ago many real estate professionals bought into a concept that I like to call the real estate K'Mart pricing method.  Instead of pricing a home at $200,000 they would price it as $199,900 because they thought it sounded better.  The real estate landscape has since changed dramatically and with the addition of consumer friendly online MLS systems and the real estate listing websites that allow consumers to search for homes...that same $199,900 listing price will now eliminate 50% of your buyers instantly and here's why:

  • $199,900 is an odd number price and home buyers do not generally search for anything other than even number prices such as $100,000, $125,000, 150,000, $175,000, $200,000, $225,000, $250,000, $275,000, $300,000 and so on.
  • A home priced at $199,900 will only show up on a search of $150,000 to $200,000 and it will be invisible to anyone looking at $200,001 or higher.  
  • When your home is priced at $199,900 it won't show up when a buyer is searching for homes priced at $200,000 to $250,000 and it won't show up when they are searching for homes that are priced between $200,000 to $300,000.
  • By pricing your home at $200,000 you will instantly connect both price ranges together and this is where the name "Price Bridging" comes from.  The $200,000 listing price can quickly and effectively double the number of buyers who will be exposed to your home.
This price bridging method can be beneficial to you regardless if your home is valued at $50,000 or $500,000.  If you are interested in obtaining the maximum exposure for your Knox County Ohio home we are only a phone call away.

Sam Miller
RE/MAX Stars Realty
(740) 397-7800

Apple Valley Lake Homes Sales Report January 2009

by Sam Miller

The Apple Valley Lake community in Knox County Ohio saw a slight reduction in homes sales in January 2009.  As of today and according to the Knox County MLS there were only 2 residential homes that sold in January which was down from 3 sales in January 2008.  This slower sales activity was not a huge surprise due to the more severe weather we have experienced this year. 

If you are in the market to purchase an Apple Valley home the timing is ideal to be able to negotiate a favorable deal.  Home prices are more affordable than in years past and fixed rate mortgages are nearing a 40 year low so your purchase price and monthly payments will be greatly reduced.  If you are interested in learning more about buying feel free to contact us by phone at (740) 397-7800 or e-mail us anytime.  If you are interested in working with us to purchase an Apple Valley home in the future you should take advantage of our Apple Valley Listings By E-mail.  All you need to do is click the link above and register and our system will search the Knox County Multiple Listing Service and send you the available listings by e-mail. 

The Apple Valley Lake housing market is traditionally slower until early spring.  If you are considering selling your current Apple Valley home we highly recommend that you schedule an appointment to meet with us in February or March so that you can be prepared before other competing Apple Valley property owners list their homes.  Coming onto the market just one month earlier than other competing homes can give you and your home a huge advantage and get your home sold before other competing homes enter the market.   

The links below will allow you to view available Apple Valley Homes and vacant Apple Valley Lots.

View Apple Valley Lake Community Homes

View Apple Valley Lake Vacant Lots

Sam Miller

Mount Vernon Ohio Home Sales Report January 2009

by Sam Miller

January 2009 was a slower month for Mount Vernon Ohio home sales activity.  As of January 31st, 2009 the Knox County MLS had only reported 8 residential homes sales in the Mount Vernon Ohio school district so far this year.  Last year during the same time period the Knox County MLS reported 14 homes sales. This means that 2009 saw roughly a 40% decrease in home sales activity during the first month of year.  This certainly doesn't mean that prices are down by 40% but that in 2009 there were simply fewer homes sales.

Each month I spend a substantial amount of time after business hours researching the market activity that is reported to the Knox County Multiple Listing Service.  This month it is very obvious why the home sales are down and that is that many of the January home sales were bank owned foreclosure listings.  You might be asking yourself why this would make the overall home sale numbers lower and the answer is banks do not need to buy a replacement home when they sell their repo listings.  When the homeowner successfully sells their current home they generally replace it with another home purchase essentially accounting for 2 sales or transactions.  When we sell a bank owned foreclosure the bank is not taking their money and buying another home.  This is a very big part of the January 2009 sales drop in Mount Vernon, Ohio.

This may sound like bad news but in reality it isn't bad news at all.  The slow down is simply a small ripple in the Mount Vernon Ohio real estate market which I believe will begin to smooth out in months to come.  Remember that all real estate activity goes in cycles and it's good to move some of the Mount Vernon Ohio  foreclosures so that in the more active months to come many of those Mount Vernon bank owned listings will already be sold when the spring market warms up.  This is important because it can be difficult for an average homeowner to be able to compete financially with HUD foreclosure or a bank who simply needs to get their non performing asset off their books.

I created some special real estate links that will take you directly to homes, condos and bank owned listings for sale that are located in and around Mount Vernon and Knox County Ohio 

Mount Vernon Ohio homes for sale

Mount Vernon Ohio condos for sale

Knox County Ohio bank owned homes

Sam Miller 

Knox County Ohio Snow Storm 2009

by Sam Miller

Most of Ohio has been snow covered but last night the freezing rain and the ice came which added a new challenge for anyone on an Ohio road trying to get home.  I was watching the news and they made the announcement that Knox County Ohio was in a level 2 snow emergency and they were recommending that people should stay off the roads if at all possible.

I am a a big fan of Twitter and I subscribe to the 10TV Columbus News feed on Twitter so I immediately saw that 10TV had posted the school closing announcement for Mount Vernon City Schools the night before. I quickly checked the school website and they had already updated their website and had posted the Wednesday closing announcement.  I have to say I was impressed how fast 10TV and the Mount Vernon Schools made the announcement because this gives parents some advance time to make plans for their children.

I shot this short video this morning on my way to work and thought it might add a little more depth to the this topic if you could actually see the snow.  I want you to pay special attention to the street once I pull out of the driveway because you can't see where the street is and if I hadn't driven this road thousands of times before I might not have made it out of our neighborhood without landing in a ditch.  

Sam Miller

 

Knox County MLS Home Search

by Sam Miller

I recently read that approximately 86% of all home buyers start their house hunting on the internet.  I find this to be a significant number because it means that nearly 9 out of 10 buyers are shopping online for a home.  The challenge for many of these home shoppers is that they have to search dozens of real estate websites and they will still generally only scratch the surface of what's available in the Knox County Ohio MLS.  

EMailKnoxCountyHomes is a simple solution we offer for all of our customers and clients.  This service provides you detailed information by e-mail for every listing in the Knox County MLS that matches your search criteria.  The system works so well that once you are registered you will receive new listing notifications as fast as the other Knox County Ohio real estate professionals.

The best part is that registering is easy and it only takes about 2 minutes.  

Knox County Ohio MLS Listing Search

 

Should You Refinance?

by Sam Miller

My phone has been ringing off the hook from home owners asking me if it is a good time to refinance their existing home.  For many of my clients the answer is YES and they should refinance especially since many of the mortgage loans available offer a fixed interest rate ranging between 4.5% to 5.5%.  However, there is a large segment of clients who should not refinance.  

If you are thinking about refinancing I would like for you to consider a few questions BEFORE you contact a mortgage lender:

  1. Do you plan on staying in your home long enough to see the long term benefit of refinancing?
  2. Do you have the necessary equity and will your home appraise high enough to support refinancing?
  3. Do you have the cash in savings for the closing costs that are associated with refinancing?
  4. If you are planning on adding the refinance closing costs on top of your existing loan balance, how long will it take for you to recoup these added costs and get your loan balance back to where it is today?  
Most people want to refinance for one of two reasons:
  1. They want to shorten their loan balance and pay the home off sooner which is a great reason.  Taking your existing 30 year amortization and refinancing to pay it off in 15 years is a powerful way to build equity quickly.
  2. They want to reduce their monthly payment at the cost of starting a 30 year loan all over again.  You can reduce your monthly payment with this method but typically you are going backwards and lose equity for at least a couple of years until the savings from the refinance get you back to where you were prior to the refinance.
Here is one of the quickest ways to determine how many months it will take before the cost of refinancing is beneficial and I have created a basic example: 

  1. If you are refinancing a fairly new home loan that has an existing 6.5% fixed rate 30 year mortgage with a loan balance of $100,000 and the current principal and interest monthly payment is $632.07.  
  2. The new interest rate you can obtain by doing the refinance is 5% fixed interest rate for 30 year and that would give you a new payment of $536.82.
  3. The closing costs to complete the refinance would be $2,500. (this amount is different in each market).
  4. The monthly payment savings would be $95.25 which is the difference from $632.07 less $536.82 = $95.25.
  5. Based on this $95.25 monthly savings it would take a little over 26 months of making the monthly payment at the new lower 5% interest rate before you would recoup your $2,500 closing costs.
Before any of my Knox County Ohio friends, customers or clients contact a lender to discuss refinancing PLEASE contact me by e-mail or phone me at (740) 397-7800.  I can help you determine within just a few minutes and over the phone if refinancing is a good move for you by using a specialized refinancing computerized calculator.

For those of you who are not planning on living in your current home much longer you may want to visit a few of the links below:







Please bookmark our site and feel free to subscribe to our RSS feed for regular updates.

Thank You!

Sam Miller

Help Give Your Kids and Grandkids A Chance

by Sam Miller

I am reaching out to all parents and grandparents who want to help give their children and grandchildren a real advantage in life.  Buying a home is rarely on the minds of our younger generation and this is partially because they believe that the entrance to home ownership is actually more difficult than it really is.  

During the past 22 years in the real estate business I can say with 100% confidence that the majority of the home buyers I speak with are worried about how they will be able to meet the down payment requirement for their mortgage.  This is without a doubt the biggest road block in the minds of buyers.  This minor obstacle is easily solved with some creative thinking and a little assistance from mom & dad, grandma and grandpa and even a brother or sister.  

The most popular home loan today for first time buyers is an FHA insured home loan.  FHA is a great loan program because FHA only requires a 3.5% down payment and the best part is that the entire down payment can be a gift from an immediate family member.  This allows the parents to assist their children to buy their first home much earlier in life and essentially skip the need for them to waste their money on a rental.  This can result in huge financial savings for their children and it allows them to build equity much faster than they could otherwise.

A few factors to consider about the current housing market:

  1. Interest rates are at a 40 year low making homes even more affordable
  2. Fixed interest rate home mortgages are readily available
  3. Mortgages with fixed rates help protect against future inflation
  4. Home values have fallen which makes it an ideal time to purchase.
  5. Home ownership often creates stability, security and the home can become an investment like savings account.
  6. When you combine the lower home prices that are available today with the lowest fixed rate mortgages since the 1960's it becomes amazingly clear that it is the right time to buy a home.
If this topic has even slightly peaked your curiosity and you are wondering if this is the time to help a loved one, just pick up the phone and call us at (740) 397-7800 and tell us you read our blog and want to help a family member.  

We specialize in Knox County Ohio real estate and we have real estate connections throughout America and Canada.  If you need a recommendation or a referral to a prescreened real estate professional we offer this service entirely free of charge to you.

Sam Miller 


Displaying blog entries 211-220 of 261

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