Eric Lowry Archives - Page 11 of 86 -

Buying a House in the Spring

March 27, 2017 by Eric Lowry

What you need to know about buying a house this Spring

Spring is house hunting season. The months of April, May, and June are generally the busiest in real estate, and account for around 40% of all home sales for the year. If your family is considering buying a house this spring, buying sooner rather than later could lead to significant savings. Here are four things you need to know about buying a house this spring.

Inventory is Low

Currently, housing inventory is extremely low. There is a 1.6 – 2.4 months inventory of homes for sale. A 6 month inventory level is considered a balanced market. Anything under 6 months worth of inventory is considered to be an undersupply, favoring home sellers as opposed to favoring home buyers. Basically, we are experiencing an extreme sellers’ market.

Home Prices Are Rising

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

Since home prices are on a steady rise and are expected to continue to increase, it no longer makes sense to wait to purchase a home.

In addition, the homes in our area are selling at 98.6% of list price on average. This means that homes are selling very close to list price. Many homes in popular price ranges are actually selling at or above list price. So if you really love the house and don’t want to lose out to other buyers, you must make a very strong offer. Trying to make a low ball offer in this market is not going to work out in your favor.

Homes Are Selling Fast

Not only is there a exceptionally low supply of houses for sale, but buyer demand is very high. You will have a lot of competition for just a few houses, which means the houses are selling very fast. Homes that are in good condition and are priced right, are selling in just days. Many are selling even within just hours! So be prepared to act fast and get an offer submitted if you love the house.

When a new listing comes on the market that interests you, it’s important that you contact your Realtor immediately so that you can go see the home as soon as possible. If you wait a few days to go see it, it likely will have already sold.

Mortgage Rates Are Projected to Rise

This month the average 30-year fixed rate conventional mortgage is at 4.25%. The average on a 15-year fixed rate is at 3.63%. The interest rate on an FHA loan currently sits at 4.34%. A VA loan interest rate right now is 4.0%.

While these are fantastic interest rates, it’s important to realize that they won’t last. In fact, experts at The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors project that interest rates will rise over the next four quarters by at least a half a percentage point. That increase may not seem like much, but it will significantly impact your monthly mortgage payment.

What You Need To Do

Get Competitive – You need to prepare yourself to be competitive in the housing market. That means you must be prepared to make a strong offer when you find the right house, and get it submitted quickly.

In addition to making a strong offer price, you must also be prepared to provide a pre-approval letter with your offer. A pre-approval letter strengthens your offer because it shows the seller that you have the financial capability to purchase the home. So it’s imperative you choose the right lender and get pre-approved before looking at homes.

Educate Yourself –

Get your copy of this Complete Home Buying Guide. No registration, no solicitation, you just call us when you’re ready.

Schedule a Personal Home Buying Consultation. If you’re ready to discuss your real estate goals, learn about the market, and meet with a local expert to help guide you through the process, call or text us at 513-368-3751

Start Your Search – View full details and photos of all available homes for sale. Our Homes For Sale information is a direct feed from the Multiple Listing Service (MLS) and is updated several times a day so you will never miss a new listing!

Questions about buying a house in the Spring market?
Contact The Lowry Team today!
Call or text 513-368-3751

11 Moving Tips to Make Your Move Easier

March 25, 2017 by Eric Lowry

Everyone knows that moving is not easy or fun. There is so much to do and it seems like so little time to get it all done. Read on to find out our top moving tips to make your move easier.

1.Declutter! When you’re preparing for a move, it’s the perfect time to get rid of anything you don’t use or need anymore. There are plenty of places you can donate gently used clothes and items to, or you can try to make a little money selling them.

2. Stock up on lots of boxes. You can either spend money on new boxes to use, or you can hit the road and pick up some for free. Grocery stores and shoe stores generally have a lot of boxes broken down the back, and employees are often more than happy to give some to people who are moving. Another great place to stop in is your local liquor store. The boxes they have are usually really strong and have handles, which is a definite plus!

3. Pack an overnight bag. After moving all day, the last thing you want to do is search through a bunch of boxes to find your tooth brush or phone charger. Pack any toiletries, clothes, or phone chargers that you will need at the end of the day.

4. Pack a “first day” tub. Fill a clear plastic tub with the essentials you will need for your first day in your new home. This can include toilet paper, cleaning supplies, snacks, chargers, etc.

5. Put plastic wrap over your drawers so you don’t have to empty them. By doing so, you will secure the items in your drawers and protect them from getting dirty. It also saves you the time and work of having to pack the stuff up into boxes, then unpack them back into the drawers.

6. Place styrofoam plates between your glass plates to keep them from breaking in transit.

7. Leave your clothes on the hangers and just simply put a garbage pack up around the clothes in bunches. This is seriously the easiest way to move a closet full of clothes.

8. Label not just what’s in the boxes, but also what room the boxes go in. If you’re feeling ambitious you can also color code the boxes using colorful duct tape so everyone knows what boxes go where. Also, don’t forget to clearly label if a box has fragile contents.

9. Take picture on your phone of how any electronics are hooked up so you can remember where all the wires go.

10. Reserve a moving truck well in advance so you don’t end up out of luck on the day of. You can also reserve a moving pod to fill in the days leading up to your move so you’re on less of a time crunch.

Bonus Tip** Contact The Lowry Team to request a list of our preferred vendors such as professional movers, carpet cleaners, etc! With over 17 years of real estate service, we can recommend the best in the area to help you with any aspect of your home buying and moving process! 513-368-3751

8995 Amy Marie Drive West Chester OH 45069

March 23, 2017 by Eric Lowry

513-368-3751 to Connect with a Top Realtor in West Chester

Home Values	Map Search	Contact Us
Just Listed in West Chester	Under $200,000	Under $300,000
Under $400,000	Under $500,000	Luxury Homes in West Chester

West Chester Ohio Houses For Sale

8995 Amy Marie Drive West Chester OH 45069

Beautiful first floor master home with all the upgrades! 2 story great room with gas fireplace. Gourmet kitchen features hearth room with fireplace, granite counter tops, double ovens, gas cooktop, and high-end cabinetry. First floor study. All bedrooms have own full bathroom. Terrific loft area. Walkout lower level with a full bathroom. Fantastic yard. Located on a cul-de-Sac. Two tiered deck and stamped concrete patio. Oversized garage – perfect for a boat. Don’t Wait To See This Beautiful West Chester Home For Sale!

Property Photos – 8995 Amy Marie Drive West Chester OH 45069

For more information about this home or to schedule a private showing, please contact The Lowry Team and we will get back to you as quickly as possible. You may also reach us by calling or texting 513-368-3751.

Property Map – 8995 Amy Marie Drive West Chester OH 45069

See All Single Family Houses For Sale In West Chester OH Here

See All Condos For Sale In West Chester OH Here

What’s My West Chester Home Worth? See For Yourself!

Best Home Updates For Increasing Your Property Value

March 19, 2017 by Eric Lowry

If you are looking to have work done on your home in order to increase its value for a future sale, you need to make sure you are choosing the updates that will have the greatest impact. Not all improvements to your home will be reflected in its resale value. If you want to see a return on your investment, keep in mind these best home updates for increasing your property value.

Many homeowners who aren’t looking to have extensive work done choose to make simple updates to their home in order for it sell faster and for more money. These simple updates include a fresh coat of neutral paint, new carpets or flooring. However, if you’re looking to have more extensive work done on your home, consider the following options:

Kitchen Remodel
Average Return at Resale: Minor Remodel – 98.5%, Major Remodel – 91%
Update the cabinet faces, counter tops, appliances, fixtures, and flooring.
Bathroom Remodel
Average Return at Resale: Minor Remodel – 102%, Major Remodel – 93.2%
Replace the tub/shower, tile surround, floor, toilet, sink, vanity, and fixtures.
Exterior Improvements
Average Return at Resale: 95.5%
Update/replace vinyl siding, paint, update the front entry, replace railings, etc.
Landscaping
Average Return at Resale: 100%
Lay sod if necessary, add flower beds and plant flowers for a pop of color, etc.
Basement Remodel
Average Return at Resale: 90.1%
Finish the walls and ceiling, add recessed lighting, add flooring, consider extras such as a wet bar or half bath.
Replacement Windows
Average Return at Resale: 89.6%
Replace old, drafty windows with new energy efficient windows.

Questions about selling your home for the most money?
Call or text Eric Lowry at 513-368-3751.

Will we save money if we sell our house without a Realtor?

March 16, 2017 by Eric Lowry

Q. Will we save money if we sell our house without a Realtor?

A. Studies have shown that if you list your home for sale with a real estate agent you get signficantly more money for your house than if you sell it without a Realtor or “For Sale By Owner” (FSBO). According to U.S. National Association for Realtors, for-sale-by-owner transactions typically result in a considerable cut in price–as much as 28% less than what may have been made by contacting a realtor, Eric Lowry and The Lowry Team for example. Saving a little bit of money on the real estate commission is actually costing thousands on the actual sale price.

In addition, if you list your own house for sale, you may be able to get a few buyers to find your house on the Internet or driving by. However, 88% of buyers are using a real estate agent. This means if you sell FSBO you are missing out on 88% of the potenial home buyers that are out looking. In order to get the best price for your home, you need to make your house available to as many buyers as possible.

Q. Why do homes listed by real estate agents generate more at sale time?

A. There are several reasons that Realtors are able to get sellers those higher sale prices. One reason is that they have immense access to current data regarding the housing market and accurate appraisal tools for assessing the home’s value. While most homeowners do at least some market research, they aren’t likely to have the access to the scope of information databases that Realtors do. Statistics show that without this information, many homeowners just aren’t asking enough for their property.

On the other hand, the opposite is also true. Many homeowners ask a much higher price for their home than it is worth in the current market. A real estate professional is an expert at advising homeowners about pricing strategies and can help make sure the home is priced right. Asking too much for a FSBO home typically results in the home sitting for a long time on the market and may not sell.

Finally, many Realtors are excellent marketers. They are experts are providing homes with the exposure they need to help generate the highest sale price and quickest possible sale. The yard signs and Craigslist ads that many for-sale-by-owners rely on are just not enough to produce a steady stream of potential buyers. Professional Realtors use a wide variety of means to generate interest in a home. A real estate agent’s day-to-day work with home buyers also provides them with a regular opportunity to show homes listed in their area.

The fact is that most home sellers are happy to pay their Realtor’s commission. Realtors have the tools to effectively market the home and the skill to manage open houses, showings, home inspections, negotiations, and much more. If you are thinking of selling your home yourself, you might want to reconsider and contact Eric Lowry and The Lowry Team. Call/text 513-368-3751.

10 Things That Turn Off Home Buyers

March 16, 2017 by Eric Lowry

If you are planning to sell your home in the near future, you want to make sure both you and your home are prepared. To sell your home faster and for more money, avoid these 10 things that turn off home buyers:

1. Poor Curb Appeal – Curb appeal provides your home’s first impression to potential buyers. Spruce up the yard before putting the house on the market. Trim the trees and freshen up the flower beds with fresh mulch.

2. Odors – Odors are huge turn off for buyers. If you are a smoker, consider smoking outdoors while attempting to sell your house. Also, hide away pet toys, bowls, etc. Vacuum and clean regularly so that the home does not smell of cigarette, pet, or kitchen odors.

3. Outdated Fixtures and Appliances – A potential home buyer does not often want the added expense of having to purchase new ceiling fans, light fixtures or kitchen appliances immediately after moving in. If your appliances are old or outdated, consider putting in new ones – this can help your home sell faster and for more money.

4. Wallpaper – Wallpaper is usually very outdated and personalized to the present owner’s tastes. Chances are most buyers would want to remove it entirely which can be a big, time consuming job.

5. Bright/ Unique Paint Colors – A lot of people prefer neutral paint tones as it brightens the room and matches more decor. Having to paint over dark or really bright colors can be a tedious task that many potential buyers would rather not bother with.

6. Carpet Stains – One of the top updates that a home seller can do before putting their house on the market is replacing or cleaning the carpets.

7. Personal Items – Having a lot of personal items and family photos out on display can make it hard for potential buyers to picture themselves in the home. It’s suggested that you put many away so home buyers can more easily imagine their family living there.

8. Dirt, Grime and Filth – If your home is on the market, it should sparkle! Home owners need to give the house a once over deep clean. Pay especially close attention to cleaning the kitchens and bathrooms. Buyers are turned off by dirty showers and tubs.

9. Clutter – Clean off the bookshelves and clean out the closets. Remove extra items from counter tops in the kitchen and bathrooms. By doing this, it will appear as if there is a lot more room and storage in the home.

10. Seller Stays Home – It makes potential home buyers extremely uncomfortable when the seller stays home during the showing. Buyers do not feel at ease talking about their likes, dislikes and concerns while the home owner is present. They also often feel very rushed due to feeling uncomfortable. Hanging around during the showings on your home is doing yourself a disservice.

Questions about selling your home? Call or text Eric Lowry at 513-368-3751