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Every Tuesday at 9PM on Bravo is one of my favorite shows, “Million Dollar Listing“. The show follows three of the top real estate agents in the LA area. One of the highlights of the shows is getting to see all the great houses these guys list. The views in Malibu are awesome and it is always sunny in LA. But the show is not just about the awesome houses.
If you really watch these guys hustle and work the real estate market one thing is clear, the game of real estate is the same every where you go. The three most important parts of selling your home remain the same. Location, Condition and Price.
In a recent episode Josh Altman argues with a co-listing agent over whether to price the house at 15 million or 13 million. They eventually settle on 13.9 Million. I especially like when he says to the other agent, ”I’m not driving out here every day for a year to have a 15 million dollar listing that wont sell.” The house sells by the end of the episode for 12.8. He was right not to back down on his price. Good agents know what they are talking about when they price a home. It doesn’t matter what you paid or what you are going to lose. If you want to get a home sold you have to price it right. If you noticed the seller took a 2 million dollar loss by selling the property at this price. No matter where you go everyone is taking a hit.
Josh Flagg was just shown listing a house that is not finished in a great area. A buyer needs to have vision to want to buy it. In my opinion, and not because he is a Keller Williams Realty agent, Josh Flagg really has the right idea about real estate. He might have been in his bath robe while he was doing it, but he called everyone he knew to let them know about his new pocket listing. In this market you can’t just put a sign in the yard and pray for people to come. Even in the extreme upper end you have to pound the pavement.
These two guys might be a little quirky and because it is TV seem a little unrealistic. But the truth is, when you go to hire a real estate agent you want them to have similar skills to these guys. At The Weiner Real Estate Group we work hard to be honest and price your house right. And we can even make it fun, just like they do on TV.
If you would like to get started buying or selling your Shaker Heights, Pepper Pike, Solon, Cleveland Heights or Chagrin Falls home please contact Ellen at 216-789-9368 or email Ellen@NoPlacelikeCleveland.com
Here is the Cleveland Area Luxury home (Cuyahoga County) real estate market report for June 27, 2009.
Summer is officially here. Tempatures are high and so is the amount of Inventory in the upper end.
Total Number of Active Listings in in Cuyahoga County from $1,000,000 and higher: 130
Total number of Pending homes in Cuyahoga County from $1,000,000 and higher: 3
The average list price of these homes is $1,431,333.
Homes over $1,000,000 Sold since March 1, 2009: 3
Average List Price: $1,912,667
Average Sale Price: $1,488,333
Sellers are getting on average 77% list price.
If we look at total number of pendings and total number of sold for the past 4 months, we know that 1.5 homes sell per month in the upper end in Cuyahoga County. If there are a total of 130 active listings in Cuyahoga County over $1,000,000 and only 1.5 sell per month. That means there is almost 8 years of inventory in the upper end in Cuyahoga County. In other words, at this rate, it will take the market 8 years to absorb all the homes on the market.
Questions about the Upper End Real Estate Market in Cuyahoga County? Luxury Real Estate Buyer, want to take advantage of the low prices in the upper end? Contact the Weiner Real Estate Group. Email Info@NoPlaceLikeCleveland.com or call Erin Snyder Oakley at 216-410-822.
Seach All Luxury Homes For SaleWhen choosing a Real Estate Agent to sell you Cleveland area Luxury Home I am sure you have a lot of questions. Here are the top 3 Real Estate Myths and the real truth behind them.
Myth #1: ”Discount” brokers can do an adequate job selling real estate.
Truth: A complete marketing campaign is an invaluable component in the process of getting the most for your home. Promotional costs such as photos, brochures, ads, MLS inserting fees, printing, direct mail, directional signs, personal Internet websites, virtual tours, etc., are all paid for by The Weiner Real Estate Group.
- Remember that you only pay a commission if, and when, your property sells successfully; you owe nothing if The Weiner Real Estate Group’s Team of Specialists does not get the results.
Myth #2: The Weiner Real Estate Group sells a lot of Real Estate so they are too busy to pay attention to my listing.
Truth: Aren’t superior restaurants busy at dinnertime, and don’t excellent doctors have a heavy patient load? Erin Oakley and Ellen Weiner may have a lot of clients, bet we have assembled a top-flight team of specialists to assist with the routine details, freeing up time to devote the time and attention you require to sell your property successfully. Ellen Weiner, Founder of the Weiner Real Estate Group, has built her business one satisfied client at a time, and word of mouth from satisfied clients is spreading and growing her business.
Myth #3: You should select a Realtor who says they can get your the highest price.
Truth: This is the oldest scam in real estate: tell the seller what they want to hear and compliment the home to get the listing. Instead, you should insist on a written, well-researched, computerized market analysis to determine the realistic amount your home will bear in today’s market and price it accordingly. Select your Realtor based on their credentials, then decide of price.
Never select an agent based solely on the price they recommend; unless they are planning to buy your home at that price, and then get it in writing!
Thank you for reading the Weiner Real Estate Group’s Luxury Home Blog. If you would like any information how we can help sell your home, or help you find your dream home, please call Erin Oakley at 216-410-8221 or email Info@NoPlaceLikeCleveland.com
If you are looking for a Luxury home in Cleveland, you don’t have to look very hard. Hunting Valley is one of the East side’s premier places to live. Here is a list of the 10 most expensive homes for sale in Hunting valley.
1) 7790 Old Mill Road Gates Mills OH $3,950,000
2) 41777 Burton Trail Hunting Valley OH $3,995,000
3) 9660 Creawood Forest Waite Hill OH $4,200,000
4) 2779 SOM Center Road Hunting Valley OH $4,250,000
5) 32700 Jackson Road Moreland Hills OH $5,590,000
6) 35275 South Woodland Road Hunting Valley OH $5,900,000
7) 31214 Lake Road Bay Village OH $6,000,000
8) 1 Roundwood Manor Hunting Valley OH $6,400,000
9) 850 Ashford Court Gates Mills OH $6,500,000
10) 2872 Nottingham Lane Hunting Valley OH $7,500,000
Interested in finding out more about these Luxury Homes? Contact Erin Snyder Oakley with The Weiner Real Estate Group at Keller Williams Greater Cleveland. 216-410-8221 or by email info@NoPlaceLikeCleveland.
Predictions for 2009 are saying that we are going to hit bottom in real estate, but what does that mean for the Shaker Heights Luxury Home Market?
The bottom means different things for a Shaker Heigths Luxury home buyer and a Shaker Heights Luxury home seller.
There is currently 27 months of inventory in the Shaker Luxury market (homes $800,000 and up). There are 9 active luxury listings in Shaker Heights. These homes have been on the market an average of 193 days.
Sellers of these 9 active listings fall into 3 categories with 3 different options for 2009.
1) Motivated sellers: These are the serious sellers that have a plan of where they are going next. In 2009 these sellers will have start to listen to what the market is telling them and lower their list price. These sellers will be successful and sell their homes.
2) Sellers who were just testing the market: Sellers who are “just testing the market” should not keep their home on the market. The sellers in this group will have to decide to move to group 1 and get motivated if they really want to sell, or they will decide to take their homes off the market and stay where they are.
3) Late Bloomers: These sellers choose not to listen to the market. They keep their house priced where it is and let it sit on the market for months.
The bottom in 2009 means one thing for the buyer…
Buyers in 2009 will be able to find a home that in 2008 was priced well over $800,000 now priced significantly below. This will Allow buyers to have an opportunity to “move up” into an even bigger luxury home then they could afford in 2008 and before. Plus the buyer is in the drivers seat during the negotiation.
Mortgage rates will be low in 2009, Prices will be low in 2009 and there are a lot of homes to choose from. So 2009 will remain a buyers market. Make sure you take advantage of it.
To learn how you can buy a Shaker Heights Luxury home please call Erin Snyder Oakley at 216-410-8221 or email info@NoPlaceLikeClveland.com.
