BHHS Pro Agents WOW the Market in 2015

BHHS Pro Agents Sales Prices 10.1% Above Average

Berkshire Hathaway HomeServices Professional Realty agents in Northwestern Ohio just completed one of the best representative years ever.  Their home-selling clients were able to close at prices 10.1% above what the neighborhood averages were.  Simply put that's over $8,000 in your pocket.

In depth studies of real estate areas where BHHS Pro agents participated, as accumulated from the multiple listing services of Northwest Ohio, West Central Ohio, and the Western Regional of Ohio, clearly indicates that when employed in the service of a home seller, these agents are out-performing their competitors where it counts - higher sales prices!  Comparisons were made of the ratios of the average original listing prices to the average sales price of all homes and of Berkshire Hathaway HomeServices Professional Realty listings in the same geographical areas.

Berkshire Hathaway HomeServices Professional Realty Throughout Ohio

With almost 500 agents in 26 offices in Ohio, BHHS Pro is making quite the impact throughout the state of Ohio.  Since joining Berkshire Hathaway HomeServices in January of 2014, BHHS Pro has joined the "Elite Circle" of brokerages in the network by being in the top 5% due to production. Recognition by RIS Media as one of the top 500 Power Brokerages has also set us apart from every other company in our Northwestern Ohio area.

Locally we are very proud of the continued excellence in representation that our seasoned agents continue to provide their clients.  With a combined expertise of practicing real estate of over a century, there isn't much that we haven't seen or done.  Our experience is showing through daily with reports like this one that further prove the value that can be found in any of our professional Realtors.

Shared Values Bonds us Together for Better Representation

There are 7 core Values that we at BHHS Pro Realty hold dear.  Expertise, Collaboration, Integrity, Innovation, Compassion, Enthusiasm, and Perspective are combined to aid us in determining how we interact with each other, our clients, other brokerages, and our community.  Our true belief is that we are in this profession to advocate for our clients, be champions for our communities, and to increase the perception of real estate agents by our example.

Bath School District Housing Market is Stable

Bath Housing Inventory Stabilizing

The Bath School District is a wonderful place to live.  It boasts the widest of all possibilities in that it contains a lot of farm land, quite a few industries (including the 4th and 5th largest employers in the area), multiple parks and reservoirs, small towns and city suburbs.
Bath has it all and people want to live here!

The current inventory of homes in Bath is holding at 5 months.  This means that if no one else lists their home for sale and our current sales pace continues then we will have nothing left to sell by March 2016.  We all know that this is not how the market works, but it is how we determine inventory levels.

This current active 5 month inventory is the first to be below 6 months in two years.  August of 2013 was the last time that we saw listings numbers pacing with sales numbers to such a level.  Over this same period the inventory has increased to near 7 month levels before the sales pace quickened to ease the pain.

2015 Bath Home Sales Pace 10% Faster than 2014

The rate at which inventory is consumed has increased by almost 10% (9.9% actual) when comparing this same rate in 2014.   Last year saw an average of 8.3 homes sold per month and the rate today is just over 9.1 home sales per month.  This does not mean that now is a great time to sell your home; nor does it mean that demand has increased to a point that home prices are jumping.  These numbers simply show that the buyer pool is large enough to consume what is being put on the market.

Historical evidence shows that when inventory levels in Bath exceed 6 months, prices tend to decline.  Stabilization happens around the 5 month level and, should something happen to decrease inventory or increase demand, prices should increase when inventories get below the 3 month level.

Please Note that Stable is Good!

To all you home owners in the area, please know that a stable market is a good thing.  This is especially true in Bath where further growth could drastically change the desireability of the area as it sits now.  Most of us appreciate that new home construction is paced with demolition almost perfectly.  Transient housing levels are also fairly well maintained with no additional rental unit offerings in the area.  No plant openings or closings, no new shopping mallls, our school is performing to high levels and our football team even had a great season.  Stability in our housing market is a good thing.

If you have any questions about the numbers that I use or the methods used to derive my information, I would be happy to buy you a cup of coffee and discuss it.

I am Tim Parker and I just want to help the people of our Bath community to get the best from life by having the best information.

Call or text if you need anything - real estate or otherwise - 614-551-7341  (the local agent with the long distance number)!!

Good, Fast, Cheap - Pick Two

Good, Fast, Cheap: Even Home Buyers Only Pick Two

If you search the internet for" fast, cheap, good," or any combination of the three, you will quickly learn the old adage of material things :

"You Can Only Pick Two"

I work with a lot of home buyers.  It would be awesome to find exactly what they wanted, for half the price they expected, the very first day that we look, but it never happens, so it is important that I set their expectations very early in our relationship.  I haven't used this "good, fast, cheap" adage very often as I learned it while in the construction industry.  It proved to be true in most every aspect of materials and construction and I think it is almost true in real estate.  I might start using it again.

This saying is from a bygone era when real quality required a craftsman's skill, market demand was very localized, and life moved at a much slower pace.  As demand for goods increased, lesser skilled manufacturers found that they could sell their goods at market prices if they produced fast enough to abide consumer convenience - OR - they could make their products and sell them cheaper than the master craftsman could, because labor cost less.  The masters could not produce faster, but knew that their products were better so they charged more.  The populace quickly learned that you could only get two of the three factors of manufactured goods.  The reason that most people haven't heard of this is because with modern manufacturing methods, efficient delivery methods, and wider ranging markets, most things are produced good, fast, and kept relatively cheap.

Smart Home Buyers Understand Which Two to Pick

Most people have a list of their wants and needs when they shop for a home and they are pre-qualified for a loan so they know how much they can shop for.   They know after only seeing a few homes near the top of their price range, just how to adjust their list so that one of the next few homes they see will fit enough to purchase.  Rarely do I have buyers willing to wait until everything on their wants list is available in a home in their price range, and never have I had a buyer find a home that did meet their entire wants list that they decided not to purchase because they couldn't get it for way-below-market value.  It seems almost innate that people accept two of the three factors.

I have had buyers who are early in the process, verbalize the ideal of finding a perfect home, below market value, quickly.  It is my job as a professional real estate agent to help set expectations so that the home buyers don't get overly frustrated.  If I ask the right questions, I can find out which direction we are going to take.  Some buyers want good and cheap, and a few want good and fast, and only investors ever go for fast and cheap.  I explain how we go about finding each of the three and how the other two affect our search.  If we are looking for good and cheap, which in housing means minimal work needed and priced below market value, then we are watching and waiting - ready to jump whenever the ideal hits the market, whether tomorrow or (more likely) next year.  If the buyers aren't willing to play the interest rate market or rent for another year, they will choose to go for fast and good.  Whatever home is on the market now that meets most of their criteria and is priced near the top of their price range is the one that they will buy.

Luck is How to Get All Three

Over ten years in the real estate business has allowed me to experience many things.  It is more common for me to witness a second wife show up to claim a property (twice in ten years) than it is for a buyer to hit the trifecta of Good, Fast, and Cheap!  I know that everyone has an uncle who has bought 25 luxury homes, each in mint condition, for under $100,000 each, but you are only setting yourself up for incredible frustration if you believe that you can pull this off once.  

If you are entering the market to buy real estate, please take a minute to explain to me exactly what you want.  Take some time with a mortgage lender to find out how much you can borrow, and plan on working for 3-6 months to find and buy a home.  These guidelines combined with my experience to find you a great property that fits both your needs and your budget.  Ultimately that is what you want, isn't it?