By Carl Horst, Ohio REALTORS Director of Publications/Media Relations
The rate of homes sold across Ohio in October nearly mirrored the record-setting mark posted during the month a year ago, according to Ohio REALTORS.
“Home sales activity across Ohio in October was strong, as sales nearly matched the month’s best-ever rate,” said Ohio REALTORS President Pete Kopf. “Equally important, the marketplace is experiencing a healthy, sustained increase in average pricing.
“The REALTOR community remains hopeful that we’ll continue to see an uptick in the number of homes being marketed for sale in the months ahead so that we can continue to build on the positive momentum that has been established during the first 10 months of the year.”
Sales in October reached a seasonally adjusted annual rate of 153,882, a marginal 0.1 percent decline from the best-ever 154,034 level reached during the month a year ago. The market also experienced a 2.6 percent increase in sales from the September 2017 seasonally adjusted annual rate of 149,926.
October’s average home price of $172,303 reflects a 5.4 percent increase from the $163,486 mark posted during the month last year.
Around the state, 15 of the 18 markets tracked reported upswings in average sales price, while the rate of home sales increased or remained unchanged in 11 markets compared to October 2016.
Data provided to Ohio REALTORS by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS, with more than 32,000 members, is the largest professional trade association in Ohio.
By Pete Kopf, Ohio REALTORS President
The REALTOR community’s most important “Call For Action” is at a critical stage — as the profession is currently focusing its attention on the Senate to keep incentives to homeownership in the “tax reform” package. It’s imperative that Ohio Senators Sherrod Brown and Rob Portman hear from every REALTOR in the Buckeye State!
Last week the House of Representatives passed H.R. 1, the “Tax Cuts and Jobs Act,” a bill National Association of REALTORS President Elizabeth Mendenhall called an all-out assault on homeownership. The Senate is now looking to pass a measure in the next few weeks that one national columnist, Kenneth Harney, says is even worse for homeowners. Specifically, Harney notes:
“Deductions of state and local property taxes, sales taxes and income taxes — the so-called SALT write-offs heavily used by homeowners — take a heavy hit. The House bill would limit SALT deductions to $10,000 in property taxes. Currently there is no dollar limit, and income and sales taxes can be included. The Senate bill would kill the deduction. For owners in high-tax markets such as Virginia, California, New York, the New England states plus Illinois and Ohio, that could raise federal tax bills.
“The Senate bill would also make a major change in one of the most valuable tax benefits for homeowners — the ability to pocket tax-free capital gains on home sales. Sellers now filing jointly can ‘exclude’ up to $500,000 of gains, provided they have used the property as their principal residence for two years out of five. That’s a big deal for many sellers, especially seniors who need the money for retirement.”
Fortunately, a record number of Ohio REALTORS have already made their voice heard — as we’ve topped 22 percent participation in the “Call for Action” as of today. While this is great and helps us meet our national goal — that leaves plenty of room for improvement. If you haven’t acted…now’s the time!
I would like to extend my personal gratitude the following 18 local Boards/Associations that have surpassed their 20 percent participation goal: Ashland, Coshocton, Delaware County, East Central, Guernsey-Muskingum Valley, Heartland, Knox County, Lake & Geauga Area, Licking County, Marietta, Marion, Midwestern Ohio, Portage County, Springfield, Stark County, Toledo Regional, Wayne-Holmes, and West Central.
Other notable highlights:
- Ohio’s current participation on 22.17 percent trails that of our peers from Michigan (24.64 percent). It’s “Beat Michigan” week…let’s get to work Buckeyes!
- Our current category leaders in the Ohio “Board vs. Board” competition include a new #1, with the Stark County Board jumping to the top spot in the “Large Board” category. Other leaders include: “Small Board” pace-setter Ashland Board with a remarkable participation rate of 96.61 percent, Licking County topping the “Medium Board” category, and Toledo Regional Association leading the “Metro Boards.” Here are the current Ohio “Board vs. Board” standings:
Metro Boards (1,200+ members)
- Toledo Regional Association — 28.17%
- Columbus REALTORS — 17.01%
- Cincinnati Area Board — 16.71%
- Akron Cleveland Association — 14.97%
- Dayton REALTORS — 14.94%
Large Board (450-1,199 members)
- Stark County Association — 24.08%
- Lake-Geauga Area Association — 22.9%
- Butler-Warren Association — 18.58%
- Medina County Board — 17.34%
- Firelands Association — 16.95%
- Youngstown Columbiana Association — 12.97%
Medium Boards (200-449 members)
- Licking County Board — 34.43%
- East Central Association — 28.48%
- Wayne-Holmes Association — 21.74%
- Midwestern Ohio Association — 26.69%
- Portage County Association — 26.14%
- Springfield Board — 25.81%
- Guernsey-Muskingum Valley Association — 22.03%
- West Central Association — 21.6%
- Lorain County Board — 14.43%
- Scioto Valley Association — 16.38%
- Northwestern Ohio Board — 16.36%
- Warren Area Board — 14.83%
- Lancaster Board — 14.52%
- Southern Ohio Association — 14.06%
- Mansfield Association — 11.05%
Small Boards (under 200 members)
- Ashland Board — 96.61% (57 of 59 members have responded!!!)
- Marietta Board — 50%
- Coshocton County Board — 44.83%
- Knox County Board — 30.95%
- Heartland Board — 26.19%
- Marion Board — 25.81%
- Delaware County Board — 22,86%
- Ashtabula County Board — 18.06%
- Beaver Creek Area Association — 16.67%
- Highland County Board — 16.39%
- Greater Portsmouth Area — 14.49%
- Athens County Board — 13.46%
- Clinton County Board — 12%
Help your Board/Association! Help middle class homeowners! Help save the American Dream! Make your voice heard by clicking here!
Yesterday, the House of Representatives passed H.R. 1, the “Tax Cuts and Jobs Act,” a bill National Association of REALTORS President Elizabeth Mendenhall has called an all-out assault on homeownership.
Mendenhall issued the following statement:
“It’s disappointing to see this legislation move forward, but the real work to shape this debate is just getting started. REALTORS will now look to the Senate as we make our case that the tax reform proposals pending before Congress overwhelmingly remove the tax incentive to purchase and own a home in America.
“This is about much more than a cap on the mortgage interest deduction. Rather, it is about whether homeowners will have the rug pulled out from under them with a tax system that suddenly favors renting over owning in a big way.
“Make no mistake, middle-class homeowners will see their home values fall if this proposal moves forward, while large corporations walk away with the bulk of the tax cuts.
“American homeowners shouldn’t have to pay for corporate tax cuts with their home equity. It’s a matter of basic fairness; 1.3 million REALTORS have known since the beginning, and America’s 75 million homeowners are just beginning to learn, that homeowners will be the ones paying the tab. REALTORS will do our part to spread the word as we work with the Senate to address this impending assault on homeownership.”
The National Association of REALTORS, “The Voice for Real Estate,” is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.
Help your profession! Help middle class homeowners! Help save the American Dream! Make your voice heard by clicking here!
By “Coach” Marilou Butcher Roth
In less than a week we will be celebrating Thanksgiving, which for many begins the start of the holiday season, full of preparations, merriment and, of course, lots of food! During the next six weeks, life may seem as if you are in a state of semi-suspension, as you balance the holiday magic! In our family (and home), we celebrate Thanksgiving, Hanukkah, Christmas and a New Year’s Eve birthday, not to forget cookie baking with the grand kids. Each year, as I begin to pull off the Christmas miracle, I vow that my thoughtful preparations will allow me to stay grounded and present.
What about you? Do you have holiday plans to make, and pies to bake? How do you handle the stress that may occur as you juggle life amidst the holiday season? I suggest you take the proverbial bull by the horns and create holidays that you and your family can thoroughly enjoy.
Find ways that work for you, to organize and delegate the various tasks involved with this time of year.
Perhaps you create some lists that will assist you. Everyone has a different method for optimal organization — there is no magic here, just find what works best for you. When you can identify what needs to occur, you can break these items down and determine the best time to accomplish each item.
Another way to assist you in your valiant efforts to create ease, is to make sure you are paying attention to how you are feeling. Being pro-active with your self care can bring you closer to finding success. Begin your day with some easeful stretching and deep breathing, easing yourself into the day. Meditation can be hugely helpful to create more mindfulness to your day. Pay attention to your pace and when you find yourself rushing, slow down!!!
Here’s the thing — you have far more control over your time than you give yourself credit for. Don’t let the holidays get you down — determine what needs to happen and decide for yourself how delightful this time of year can be!
Marilou Butcher Roth is the owner of The MBR Group, a coaching and training company working primarily with REALTORS who have a desire to work and live from a more inspired place. She is also the Broker/Owner of Group REALTORS in Cincinnati.
Marilou is a member of the Ohio REALTORS Board of Directors and past chairman of the organization’s Communications Committee. Feel free to contact Marilou to see if coaching is right for you: Marilou@mbr-group.com
Ohio REALTORS is proud to present “Educators,” part of its year-long video series celebrating the many attributes REALTORS possess. This video series highlights the important role REALTORS play in boosting our communities and advancing the American Dream.
This ground-breaking series is designed to showcase the unique professionalism, respect and admiration embodied within Ohio’s more than 31,000 real estate professionals. Click the links below to view past episodes of the “We Are Ohio REALTORS” professionalism series:
- An Introduction
- Market Experts
- Honesty & Integrity
- ommunity Service & Philanthropy