Selling Your Home? Read This First!

If you are planning on selling your home, you may have questions about the process. Here are seven tips to read before putting your home on the market:

1. Do I really need to improve my home before selling it? 
You need to consult with your real estate agent to see what improvements makes sense to sell your home at the highest price. Remember, you only get one chance to make a positive first impression when your home goes on the market to sell. If your home is in need of updates, you could have a hard time to get the interest of the buyer. An unmaintained home sometimes indicates it needs lots of work and repair.

Some home improvements just take some time and a small budget. Painting, caulking and cleaning are great (and economic) ways to make your home shine. If your carpet is old and worn, you may also want to replace it. One thing to remember is that home improvements do not  necessarily equate to a higher price, but should result in more showings and stronger offers.

2. I think I will price high and see what happens. 
Everyone’s goal is to obtain the highest price for their home. (Your agent wants that for you, too!) However, pricing your home way over its current market value is a strategy that does not always work. It can result in fewer showings and no offers and you may be perceived to be an unrealistic home seller. (Those potential home buyers who do tour your home will give feedback that it is overpriced or will have lower offers.) Remember, the most attention given to a home is when it first hits the market. Price it correctly and bring in the offers.

3. My home is worth what?
Over-improving a home can backfire when it is time to sell. For example, if your custom kitchen has finishes to meet your specific taste (with special colors or tile for example), it may not appeal to buyers who will want to replace what you have done. An in-ground spa may be a great feature for you to enjoy, but the buyer might not find value with it. Everyone has different priorities with their home. Bottom line – the market will never pay dollar for dollar for improvements to your home, especially taste-specific projects. 

4. Everyone who sees my home wants to buy it!
Oh, if that were the case! You never know what buyers’ needs are. People have different things that are important to them. Their “need to have” list versus a “nice to have” list may not sync with your home. Do not take it personally if your home’s floor plan or features do not meet their requirements. Also, you need to realize, some buyers are just out looking and are not serious about buying. They may be in the beginning stages of looking for a home and not willing to commit.

5. I had an inspection and now I have to make even more repairs?
A home inspection gives the buyer an idea of the condition of your home. Following this inspection, you may be asked about making repairs depending upon what is on the list. At that point, you can either make those repairs or re-negotiate. If the buyer walks away, your home will go back on the market and you will need to deal with that stigma. Another buyer will then have his  own inspection and you will need to address repair issues once more. (Helpful hint: We suggest paying for a pre-inspection before your home goes on the market. The inspector will review: electrical, plumbing, heating and cooling systems; windows, ceilings, walls, doors and floors; attic, visible insulation and roof; and the foundation, structural elements and basement.)

6. I think I want to include a carpet allowance instead of replacing it. 
You cannot give a buyer an allowance as part of closing on your home. It is better to reduce the purchase price or simply replace the carpet yourself.

7. Do I really need to stage my home?
A staged home presents its best features making it very appealing to buyers. At a minimum, your home needs to have a deep cleanse, decluttering and organization. From there, your agent can guide you as to whether it needs more staging to be market ready to sell. If your home is empty, keep in mind that professionally staged properties for sale tend to sell more quickly. 

 

Local Home Sales Report for June 2020

花火8Very low interest rates, good weather as well as reasonable prices for homes have kept the real estate market strong even through COVID-19.

Although sales were down in all regions (except in Dayton), average and median sale prices rose  – encouraging news for those thinking about selling their homes.

Here is a report by region of homes sales throughout June 2020:

CINCINNATI / SOUTHEASTERN INDIANA

June 2020 vs  June 2019

  • -7.00% Decrease in homes sold (2,524 homes vs 2,714 homes)
  • 3.44% Increase in average sale price ($253,686 vs $245,482)
  • 7.50% Increase in median sale price ($214,900 vs $199,900)
  • -3.89% Decrease in gross sales volume ($640,303,731 vs $666,238,556)

January–June 2020 vs January–June 2019

  • -8.94% Decrease in homes sold (11,371 homes vs 12,487 homes)
  • 4.81% Increase in average sale price ($234,569 vs $223,794)
  • 6.30% Increase in median sale price ($194,000 vs $182,500)
  • -4.55% Decrease in gross sales volume ($2,667,278,875 vs $2,794,520,911)

Statistics courtesy of Cincinnati Area Board of Realtors June 2020 Home Sales Report

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DAYTON

June 2020 vs June 2019

  • 6.21% Increase in homes sold (1,624 homes vs 1,529 homes)
  • 5.40% Increase in average sale price ($205,851 vs $195.303)
  • 5.00% Increase in median sale price ($178.500 vs $170,000)
  • 11.95% Increase in sales volume ($334,301,250 vs $298,618,817)

January–June 2020 vs January–June 2019

  • -5.12% Decrease in homes sold (7,378 homes vs 7,776 homes)
  • 7.83% Increase in average sale price ($187,003 vs $173,418)
  • 7.92% Increase in median sale price ($160,800 vs $149,000)
  • 2.31% Increase in sales volume ($1,379,708,002 vs $1,348,494,690)

Statistics courtesy of Dayton Realtors June 2020 Home Sales Report

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NORTHERN KENTUCKY

June 2020 vs June 2019

  • -25.80% Decrease in homes sold (558 homes vs 752 homes)
  • 5.20% Increase in average sale price ($217,314 vs $206,571)
  • 6.42% Increase in median sale price ($193,685 vs $182,000)
  • -21.94% Decrease in sales volume ($121,261,268 vs $155,342,050)

January–June 2020 vs January–June 2019

  • -8.47% Decrease in homes sold (2,529 homes vs 2,763 homes)
  • 9.39% Increase in average sale price ($215,600 vs $196,761)
  • 7.87% Increase in median sale price ($185,000 vs $171,500)
  • .13% Increase in sales volume ($544,333,099 vs $543,652,032)

Statistics courtesy of Northern Kentucky Association of Realtors June 2020 Home Sales Report

Sibcy Cline Realtors Makes the Business Courier’s Top Private Companies List for 2020


The Business Courier published its annual Greater Cincinnati’s Largest Private Companies list and Sibcy Cline was part of this ranking at #113 on the list. It was the only residential real estate company featured in these rankings.

Robin S. Sheakley, President of Sibcy Cline, was quoted in this issue of the Courier when asked about inspiring others in troubled times: “We are in the housing business and therefore, our professional life is everyone else’s personal life. Providing a sense of security has influenced every decision we make. While real estate was deemed an essential service at the onset of the Covid-19 stay-at-home orders, we quickly responded by March 17. While we had the technology in place to ensure business continuity, we needed to provide access, training and resources to ensure each agent and employee was equipped to leverage them. Safety, creativity and productivity continue to be our priorities. On April 2, we hosted a virtual continuing education class dedicated to fair housing, having no idea how salient and timely it would become. Sharing stories and supporting one another is as essential as providing the platform(s) with which to do it. We could not and cannot communicate enough to empower people during times of uncertainty.”

This 2020 list of the top 150 companies combined had sales of $50.6 billion and a workforce of 164,000 people.

Seven Signs Why You Should Sell Your Home Right Now

With a shortage of homes for sale and bidding wars happening on many listed properties, now could be the perfect time to sell. Is the time right for you? Here are seven signs of why you should sell your home:

  1. You’ve outgrown your home. If there are not enough bedrooms or living spaces inside your current home for you and your belongings, now is a good time to think about “buying up” to a larger home.
  2. Where you live is “booming”. Do you live in one of those “hot” neighborhoods where houses are selling quickly and for a high price? This could be your sign to take advantage of the current market.
  3. You are tired to maintaining your current home. If mowing the lawn, gardening, painting and other chores are no longer fun to do, consider selling now and moving to a less maintenance-intensive type of home that better fits your lifestyle.
  4. You have equity in your home. During the housing crash of 2007, equity fell for most homes – but for many homeowners it is now back – and your home could be worth more than you owe on it. Do you know your home’s value in today’s market? You may be surprised and this could be the big sign to sell. Selling while you have high equity is a great way for you to buy that next dream home.
  5. Life changes. Life’s markers can affect housing needs. Perhaps you need a smaller home now or want to move to be closer to family. Changes in family dynamics and work commutes are a few  more reasons that may be pointing you in the direction of selling your old home and getting a new one.
  6. Low mortgage rates. Mortgage interest rates are at historic lows. When you sell your current home, you will be able to afford even more home with these rates. Take advantage of this market.
  7. You are emotionally ready to move on. Moving is not an easy thing to do. Let the guilt of staying in your old home go. Once you have made your mind up to sell, stay the course. Remember, in many areas, homes are selling quickly – that means less people touring your home, less open houses to host and a fast closing. That sold sign in your yard will be your “sign” to move onward.

Ready to sell? Contact your favorite Sibcy Cline agent

May 2020 Home Sales Report for Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana

花火8Very low interest rates, good weather as well as reasonable prices for homes have kept the real estate market strong even through there were COVID-19 stay-at-home orders.

Although sales were down, average and median sale prices rose  – encouraging news for those thinking about selling their homes.

Here is a report by region of homes sales throughout May 2020:

CINCINNATI / SOUTHEASTERN INDIANA

May 2020 vs May 2019

  • -26.88% Decrease in homes sold (1,950 homes vs 2,667 homes)
  • 3.24% Increase in average sale price ($238,994 vs $231,499)
  • 5.37% Increase in median sale price ($201,250 vs $191,000)
  • -24.52% Decrease in gross sales volume ($466,038,682 vs $617,407,053)

January–May 2020 vs January–May 2019

  • -9.78% Increase in homes sold (8,816 homes vs 9,772 homes)
  • 5.29% Increase in average sale price ($229,270 vs $217,757)
  • 6.09% Increase in median sale price ($189,900 vs $179,000)
  • -5.01% Decrease in gross sales volume ($2,021,243,057 vs $2,127,917,355)

Statistics courtesy of Cincinnati Area Board of Realtors May 2020 Home Sales Report

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DAYTON

May 2020 vs May 2019

  • -25.29% Decrease in homes sold (1,285 homes vs 2,106 homes)
  • 4.24% Increase in average sale price ($188,935 vs $181,258)
  • 7.02% Increase in median sale price ($166,900 vs $155,950)
  • -22.13% Decrease in sales volume ($242,781,843 vs $311,763,470)

January–May 2020 vs January–May 2019

  • -10.25% Decrease in homes sold (7,583 homes vs 8,449 homes)
  • 8.08% Increase in average sale price ($181,599 vs $168,020)
  • 9.45% Increase in median sale price ($157,000 vs $143,450)
  • -.08% Decrease in sales volume ($1,042,922,477 vs $1,043,742,673)

Statistics courtesy of Dayton Realtors May 2020 Home Sales Report

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NORTHERN KENTUCKY

May 2020 vs May 2019

  • -25.80% Decrease in homes sold (558 homes vs 752 homes)
  • 5.20% Increase in average sale price ($217,314 vs $206,571)
  • 6.42% Increase in median sale price ($193,685 vs $182,000)
  • -21.94% Decrease in sales volume ($121,261,268 vs $155,342,050)

January–May 2020 vs January–May 2019

  • -8.47% Decrease in homes sold (2,529 homes vs 2,763 homes)
  • 9.39% Increase in average sale price ($215,6 vs $196,761)
  • 7.87% Increase in median sale price ($185,000 vs $171,500)
  • .13% Increase in sales volume ($544,333,099 vs $543,652,032)

Statistics courtesy of Northern Kentucky Association of Realtors May 2020 Home Sales Report

April Home Sales Report for Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana

花火8There is still strong interest for homes for sale through this challenging time of COVID-19. Low interest rates and a low inventory of available homes for sale have continued the fast-paced home-buying market.

Here is a report by region of homes sales throughout April 2020:

CINCINNATI / SOUTHEASTERN INDIANA

Home sales did well with the circumstances of COVID-19 restrictions. The average home price rose 4.9%. Although showings decreased in the first half of the month due to stay-at-home orders, the latter half of April saw an increase of showings to pre-pandemic levels.

April 2020 vs April 2019

  • -20.21% Decrease in homes sold (1,907 homes vs 2,390 homes)
  • 4.90% Increase in average sale price ($233,430 vs $222,251)
  • 3.26% Increase in median sale price ($190,000 vs $184,000)
  • -16.40% Decrease in gross sales volume ($445,150,327 vs $531,824,239)

January–April 2020 vs January–April 2019

  • -3.66% Increase in homes sold (6,845 homes vs 7,105 homes)
  • 6.40% Increase in average sale price ($226,209 vs $222,521)
  • 4.90% Increase in median sale price ($190,000 vs $184,000)
  • 2.51% Increase in gross sales volume ($1,548,402,985 vs $1,510,510,302)

Statistics courtesy of Cincinnati Area Board of Realtors April 2020 Home Sales Report

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DAYTON

With the COVID-19 pandemic home sales decrease din April. However, the Dayton region did see an increase in average and median home sale prices – encouraging news for those thinking about selling their homes.

April 2020 vs April 2019

  • -22.24% Decrease in homes sold (1,372 homes vs 2,042 homes)
  • 6.27% Increase in average sale price ($187,564 vs $176,501)
  • 8.67% Increase in median sale price ($163,000 vs $150,000)
  • -17.36% Decrease in sales volume ($212,509,712 vs $257,162,074)

January–April 2020 vs January–April 2019

  • -.94% Decrease in homes sold (5,840 homes vs 6,336 homes)
  • 10.15% Increase in average sale price ($179,691 vs $163,127)
  • 11.44% Increase in median sale price ($154,900 vs $139,000)
  • 9.12% Increase in sales volume ($796,208,924 vs $729,666,487)

Statistics courtesy of Dayton Realtors April 2020 Home Sales Report

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NORTHERN KENTUCKY

Although home sales decreased for the month (due to COVID-19), average and median sale prices rose. This is encouraging news to people thinking of selling their homes.

April 2020 vs April 2019

  • -18.60% Decrease in homes sold (499 homes vs 613 homes)
  • 11.16% Increase in average sale price ($217,501 vs $195,672)
  • 12.39% Increase in median sale price ($ 195,000 vs $173,500)
  • -9.52% Decrease in sales volume ($108,533,417 vs $119,946,953)

January–April 2020 vs January–April 2019

  • -2.44% Decrease in homes sold (1,961 homes vs 2,010 homes)
  • 11.25% Increase in average sale price ($214,837 vs $193,115)
  • 9.85% Increase in median sale price ($184,000 vs $167,500)
  • 8.54% Increase in sales volume ($421,296,602 vs $388,162,982)

Statistics courtesy of Northern Kentucky Association of Realtors April 2020 Home Sales Report

 

A Buyer’s Guide to Virtual Open Houses on SibcyCline.com 

Virtual open houses are not brand new in real estate – but during the current COVID-19 situation they have become very popular. With record low inventory and many homes selling before multiple buyers get a chance to peek inside, we suspect they are here to stay.

A virtual open house gives buyers access to many of the benefits of a physical open house without having to get off the couch on Sunday afternoon or manage the schedules of a busy household. No hand sanitizer or mask necessary, this type of tour is as close as you can come to an in-person open house. They are a perfect opportunity to get details on the special features of a home, context on the floor plan and information on the community in an interactive way with the listing agent.

At every Sibcy Cline Virtual Open House, you can interact with the agent via chat, but you don’t have to be on camera. In most cases agents will automatically turn off video for all participants, but in all cases you have the option to keep your camera off. You can expect to see photos or live/pre-recorded walk-throughs of the home or neighborhood, statistics for the area, and other relevant information regarding the property.

Sibcy Cline Virtual Open Houses are held live at a scheduled time, but many of our agents can provide a recording of their Virtual Open House if you were unable to attend at the scheduled time. Just ask!

ListingDetailPage

How To Attend a Sibcy Cline Virtual Open House
On sibcycline.com, click on the Open House button in the navigation bar and select an area of interest. All available Sibcy Cline virtual open houses will be highlighted by city/suburb. From there, select a listing of interest and you can look all of the photographs and details on that page. Click on “Virtual Open” (highlighted in gold). You will then complete a form to register for the event and receive an email with the event details like the time and date of the virtual open house, the platform it will be hosted on (most often Facebook or Zoom) along with the link and password to access (if applicable).

Of course, you can always schedule a personal home showing with your agent. (Real estate is deemed an essential business.)

Happy house hunting – online, virtually, and in person! 

Sibcy Cline Realtors Ranked as the Largest Residential Real Estate Company by the Business Courier for the 27th Year in a Row

花火8For the 27th year in a row, Sibcy Cline Realtors has been ranked as the largest residential real estate company by the Business Courier. Rankings were based on 2019 sales volume.

Sibcy Cline has over 1,000 real estate agents and over 200 employees. Founded in the 1930s, the company has been a family-run firm since that time. Sibcy Cline is a full-service company with real estate, mortgage, relocation, insurance, title and home services divisions.

Largest_Courier_2020

 

March Home Sales Report for Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana

花火8Although this is a challenging time, real estate remains strong with low interest rates and a constantly rotating inventory of homes for sale. There are plenty of buyers in the market now looking for a home. Take a look at our regional home sales report for March 2020.

During this concerning time of Coronavirus, please take advantage of Sibcy Cline’s weekly Virtual Open House Weekend tours on Facebook.

HighlightReel copy

Sibcy Cline is also promoting a #HighlightReel with our homes sellers’ favorite images of their homes on http://www.sibcycline.com. It’s an expressive way to see an interesting photo of home for sale right from your own home!

Here is a report by region of homes sales throughout March 2020:

CINCINNATI / SOUTHEASTERN INDIANA

Home sales in the region were strong and down just slightly as compared to March 2019. Average home sale prices continue to increase.

March 2020 vs March 2019

  • -.45% Decrease in homes sold (1,987 homes vs 1,996 homes)
  • 13.12% Increase in average sale price ($231,986 vs $205,075)
  • 14.71% Increase in median sale price ($195,000 vs $170,000)
  • 12.61% Increase in gross sales volume ($460,955,271 vs $409,330,177)

January–March 2020 vs January–March 2019

  • 4.45% Increase in homes sold (4,925 homes vs 4,715 homes)
  • 7.67% Increase in average sale price ($223.485 vs $207,569)
  • 8.82% Increase in median sale price ($185,000 vs $170,000)
  • 12.46% Increase in gross sales volume ($1,100,662,113 vs $978,686,063)

Statistics courtesy of Cincinnati Area Board of Realtors March 2020 Home Sales Report

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DAYTON

Despite the COVID-19 pandemic, Dayton area saw a gain in home sales as well as average and median sale prices throughout March.

March 2020 vs March 2019

  • 11.76% Increase in homes sold (1,321 homes vs 1,182 homes)
  • 13.83% Increase in average sale price ($184,756 vs $162,314)
  • 17.09% Increase in median sale price ($161,000 vs $137,500)
  • 27.21% Increase in sales volume ($244,062,634 vs $191,855,727)

January–March 2020 vs January–March 2019

  • 9.33% Increase in homes sold (3,282 homes vs 3,002 homes)
  • 12.95% Increase in average sale price ($177,066 vs $156,761)
  • 13.06% Increase in median sale price ($151,500 vs $134,000)
  • 23.49% Increase in sales volume ($581,129,170 vs $470,596,213)

Statistics courtesy of Dayton Realtors March 2020 Home Sales Report

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NORTHERN KENTUCKY

Home sales decreased in March as compared to March 2019. Average and median sale prices increased.

March 2020 vs March 2019

  • -7.99% Decrease in homes sold (553 homes vs 601 homes)
  • 16.18% Increase in average sale price ($223,606 vs $192,467)
  • 12.02% Increase in median sale price ($192,000 vs $171,400)
  • 6.90% Increase in sales volume ($123,654,435 vs $115,672,892)

January–March 2020 vs January–March 2019

  • 3.22% Increase in homes sold (1,442 homes vs 1,397 homes)
  • 11.03% Increase in average sale price ($213,178 vs $191,994)
  • 9.09% Increase in median sale price ($180,000 vs $165,000)
  • 14.61% Increase in sales volume ($307,403,814 vs $268,216,029)

Statistics courtesy of Northern Kentucky Association of Realtors March 2020 Home Sales Report

 

Look at homes for sale.

Sibcy Cline Open House Weekend – September 28 and 29, 2019

Sibcy Cline Open House weekendSibcy Cline agents are hosting a Sibcy Cline Open House Weekend on September 28 and 29, 2019. There will be lots of great homes to see throughout Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana.

Look at homes for sale.

Mortgage interest rates remain low. Home values are rising. Now may be the right time for you to sell your old home and find a new one to meet your needs. Talk to your Sibcy Cline agent!