Ohio’s ‘pending’ home sales rise 12 percent in October

pending burst 448 size

By Carl Horst, OAR Director of Publications/Media Relations

The Ohio Association of REALTORS reports the number of single-family homes and condominiums put under agreement in October increased 12.2 percent from the level posted during the month a year ago.

The rate of purchase contract signings in October dipped a slight 1.5 percent from the pace recorded in September 2014.

Ohio’s October Pending Home Sales Index of 156.9, a forward-looking indicator based on contract signings, increased 12.2 percent from October 2013 (139.8). Activity in October declined 1.5 percent from the pace of agreements reached in September 2014 (159.2).

“Ohio’s housing marketplace is continuing to build momentum, as the number of homes put under contract in October reached an all-time high for the month and achieved the sixth consecutive month of year-over-year gains,” said OAR President Chris Hall. “The industry is hopeful that we’ll continue to build upon the solid foundation that’s been established during the first 10 months as we move forward.”

Compared to 2008, a historically healthy market that marked the end of five consecutive record years for existing home sales and the onset of the recession, October’s Index score of 156.9 marks a 56.9 increase.

A pending sale or a sale “under agreement” is when the buyer and seller agree on terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such. Refer to the following report to view the pending home sales index and methods.

OAR, the largest professional trade association in the state with more than 27,000 members, is the only organization that compiles this state wide information from selected Multiple Listing Services each month. The tracking of “pending sales” provides reliable information about where the market is heading in coming months.

Tags: pending home sales, research

Coaching Corner: Back at YOU!

By “Coach” Marilou Butcher Roth

Yes, believe it or not, tomorrow is Thanksgiving — the beginning of the holiday season. We all know the history of Thanksgiving and many of you have found meaningful ways to identify the people and things in your life that you are thankful for. Appreciation is not a small practice to adopt in your life. This is something that, when done frequently, actually changes your life experience. Stepping away from the ever tempting desire to complain or gossip, into an full blown appreciation shifts your awareness.

Today I would like to talk to you from a slightly different perspective — appreciating yourself! I can hear the moans now! This is not easy for most of us, I realize that. We tend to be our biggest self critics and judges. Here is a clue for you around this — if you find yourself in judgement of another, it may be that the judgement is really about yourself!

So as we move into this day of Thanks, find things to appreciate about yourself. Start small and be sincere. And yes, while it will feel awkward initially, be gentle and enjoy this process! Let it be the beginning of a new tradition that continues throughout the year.

Happy Thanksgiving! We do have so very much to be thankful for!

 

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 OAR Executive Committee and immediate 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

 

Tags: Coaching Corner, training

Ohio Safety Series: Open house safety tips

think safety

Over the past 10-plus years hundreds of real estate professionals throughout the country have been murdered, violently assaulted, raped, beaten and robbed in the workplace. In fact, tragedy hit close to home four years ago when two of our own — Vivian Martin and Andrew VonStein — were killed in separate incidents on back-to-back days when showing vacant homes. More recently, the industry was shocked by the tragic, unfortunate murder of an Arkansas REALTOR who was similarly killed doing what a real estate professional does — simply showing a home. These incidents illustrate the importance of taking safety precautions in your daily activities. Our Ohio Safety Series is an ongoing effort to provide you with insights to ensure the safety of you and your clients.

 

Don’t advertise a listing as vacant

Establish escape routes from each level of the house

Call the office or a buddy hourly

Keep your keys and cell phone with you

Park where you can get out quickly

 

Arrive early and survey exits to establish escape routes from each level. Make sure all deadbolts are unlocked to facilitate a faster escape. Double check the backyard to make sure you can get past the fence if necessary. When leaving the property, secure the house and check all windows and doors.

Avoid attics, basements and getting trapped in small rooms; let them lead the way into rooms.

Notify neighbors in advance or, if time permits, introduce yourself to the neighbors and let them know when you will be showing a house. They will be more alert to unusual sounds and you will have somewhere to run to if you need help.

Remind sellers to put valuables in a safe, secure place. Do not leave your briefcase, purse or laptop sitting on a counter.

Beware of suspicious behavior and your surroundings.

Place one of your business cards, with the date and time on the back, and place it in a kitchen cupboard. When prospects begin arriving at the open house, jot down their car description, license plate number and a physical description of each person. This will assist you in remembering the names as well.

Tags: Ohio Safety Series, safety

Ohio’s October housing report: Low inventory of homes for sale, rising list prices & fewer days on the market

house with charts and graphs blue

By Carl Horst, OAR Director of Publications/Media Relations

The latest snapshot of the Ohio housing marketplace shows a continuing decline in the number of homes for sale, rising list prices and a drop in the number of days properties are being marketed compared to where the market stood a year ago.

According to REALTOR.com’s October 2014 Housing Report, which tracks inventory of for-sale single-family homes and condos, median list prices, inventory levels and days on the market for 146 cities across the country:

The realtor.com October National Housing Trend Report shows that inventory remains tight as total listings have decreased 2.9 percent month over month and 4.8 percent year over year.

In October, homes spent approximately 92 days on the market, which is an increase of 2.2 percent month over month and a decrease of 2.1 percent year over year. Pricing remained steady in October as the median list price of $214,900 has remained unchanged so far this fall.

Compared to the findings from a year ago, all but one Ohio market saw a significant drop in the number of homes on the market. Every Ohio market tracked experienced an uptick in the median list price in October. Additionally, homes across the state are being marketed for shorter time frames compared to 2013.

 

October 2014 vs. October 2013

Median List $
Total Listings Median Age of Inventory
Akron 1.7% -7.8% -7.6%
Cincinnati 11.1% -28.2% -10.6%
Cleveland-Lorain-Elyria 7.6% -11.1% -6.1%
Columbus 7.7% -31.4% -5.1%
Dayton-Springfield 10.0% -24.2% -6.1%
Toledo 4.8% 0.1% -1.1%
U.S. Average 8.0% -4.8% -2.1%

 

“The biggest challenge facing Ohio’s housing marketplace at this time is the extremely tight inventory of homes listed for sale we’re experiencing throughout the state,” said Chris Hall, president of the Ohio Association of REALTORS. “Tight inventory levels are undoubtedly contributing to rising list prices and reducing the amount of time that homes are being marketed for sale.”

Tags: research

Coaching Corner: Are you complete?

By “Coach” Marilou Butcher Roth

Those of you who follow this blog have read something similar to this in the past. It does, however, bear repeating. Each year, as it gets close to the end of December, I encourage my clients (and myself), to determine what needs to happen to complete the current year.

I love the idea of moving into 2015 feeling complete with 2014, and eager to jump into the new year!

Examine your business and see what loose ends are hanging. Are there systems that you wanted to put into place that you have not done? Are there classes that you wanted to take that just haven’t happened? And also in the mix needs to be any conversations you have not had that if you did would leave you feeling clear and clean.

Make your list and begin the activities and before you know it, you will be well on your way! Once you feel complete, think about what you want your new year to look like. You can do this in a formal business plan or you can just identify what you plan to accomplish.

Most importantly, do not make this a hardship — think about how good it feels to be complete! So, crank up the tunes and get to work!

 

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 OAR Executive Committee and immediate 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

 

Tags: Coaching Corner, training

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