The summer home-buying season is approaching fast.  If you have shopped for a home in the past ten years, you have probably heard of and used Zillow.  Other real estate search sites exist, but Zillow is the biggest and probably the most popular.

How Does Zillow Work?

Zillow has agreements with multiple listing services (MLS) across the country, giving them access to all the homes for sale.  So when a customer searches Zillow for homes for sale in Hillsboro, Ohio 45133, all the available homes are displayed on their site from the local MLS for the area.  They also allow property owners to list their homes for sale by owner (FSBO).

When a consumer finds a house they are interested in, there is a convenient option for them to request additional information or a private showing of the home.  Zillow calls this a tour request.  Once a customer requests information or a tour request, they are connected to a local agent from that area.

Zillow calls these agents Premier Agents.  Premier Agents are local real estate agents who have agreed to partner with Zillow by advertising their services on the Zillow website.  Each Premier Agent is paying Zillow to be connected with their users.  So, if you have an agent that you want to help you buy a home, do not request information and property tours from Zillow.  Share the property with your agent and let them schedule a showing for you.  If you still need an agent, Zillow is a great place to connect with one.  We have partnered with them since 2015 and have had the opportunity to serve hundreds of clients. 

Looking at homes and meeting an agent aren't the only things you can do on Zillow.  You can also connect with a mortgage lender to get pre-approved.  Getting pre-approved is one of the most important things you can do when buying a home.  This is step number three in our How To Buy A Home Guide.

Recap Of What We Discussed Today

1. Zillow is a great place to shop for a home.
2. Zillow is an excellent place to meet a real estate agent if you don't have one already.
3. If you have a trusted agent, either use their website and app to search or share the properties you find on Zillow with them. Do not request information or property tours.
4. You can get pre-approved with a mortgage lender through Zillow. Many Premier Agents partner with Lenders on Zillow to give the customer a one-stop approach to the home-buying process. Connect with our Zillow mortgage partner here. 

The Home Buying Process

Buying a home for most people is the most significant expense they will ever have. Knowing what steps to take will make the process less stressful and put you in the best position to accomplish your goal. This article aims to lay out the best path toward home ownership. Watch Dave Ramsey's 7 Tips For First-Time Home Buyers Video above for even more great advice.

We have broken the Home Buying Process down into eight steps. The eight steps work best when walked out in order. Steps one through four are the steps you take to get ready. You can't build a house without a building plan. The same goes for buying a home. Steps five through eight cover the house hunting to the closing.

How To Buy A Home

1.  Decide On Location:  When deciding where to buy a home, things to consider include local schools, cost of living in that area, crime, distance to shopping and entertainment, and how close it is to your job.
2. Prepare Your Finances:  You should only buy a home once you are debt free, have an emergency fund of three to six months of expenses saved, and have at least a ten percent down payment saved. Need help making a plan to accomplish step two? Contact us for more information.
3. Get Pre-Approved:  Connect with a mortgage lender and get pre-approved for a fifteen-year fixed-rate mortgage with a payment that is no more than 25% of your take-home pay.
4.  Choose a Realtor:  Your home purchase is too important to trust a two or three-star real estate agent. Having a five-star agent who cares more about serving than selling you would be best.
5. Shop For Homes:  This is where the real fun starts. Your agent will set up a customized search based on the specifics you have told them about the kind of house you want. As homes come on the market, your agent will schedule showings and take you through the homes.
6. Write An Offer:  When you find the right house, your agent will walk you through the process of writing the offer and negotiating the terms of the sale.
7. Inspections/Loan Process/Appraisal:  After the terms of the purchase have been agreed to by both parties, the next step is to conduct inspections of the property. During this stage, the bank will process your loan and evaluate the home you are purchasing.
8. Closing:  This is the day you have been waiting for! Closing takes place at a Title Company or Attorney's office. Closing usually takes about an hour. Closing is when you sign all loan documents and pay your down payment. At the end of the closing, you are the property's new owner.

What It Means To Be Ramsey Trusted

Ramsey Solutions is America's trusted source for sound financial guidance. The Ramsey Show (AKA The Dave Ramsey Show) can be heard on radio stations nationwide on weekdays from 2-5 PM Eastern. If you have ever listened to the show, you are familiar with the Endorsed Local Provider Program. The Ramsey Team interviews pros in different professions, and if that pro meets the Ramsey standards, they earn the title "Ramsey Trusted." When one of their fans needs help in an area such as investing, taxes, or real estate, that fan can request to be connected with a Ramsey Trusted Pro (Ramsey Endorsed Local Provider).

Only the best of the best can become Ramsey Trusted.

Here's what it means to be endorsed by Ramsey:

1.  Shared Values: We fully believe in the Ramsey mission and teachings. That means we are here to walk alongside you and help you win on your journey.
2. Service You Deserve: We value serving over selling and are always dedicated to providing the excellent customer service you deserve.
3. Real Relationships: We work closely with the Ramsey team to ensure we meet their high standards. And we care about helping you make the best decision for you and your family.
4. Worthy Of Trust: We have the full backing of the Ramsey Team, who has helped millions get (and stay!) out of debt and work toward financial peace.

Learn more about "Ramsey Trusted" here.

We are proud to be Ramsey Trusted. We are one of the millions Ramsey has helped get out of debt. We have coordinated Financial Peace University at our Church and graduated from Ramsey Master Coach Training. Being Trusted by Ramsey is an incredible honor for us.

We are looking forward to working with you!

Real Estate Market Activity Report

Stay up to date on the direction of your local real estate market.  We share a report for each city in our service area every month.  Today we are sharing the Milford, Ohio, market update.  View the full report here.

Find out how much your home is worth with our instant property valuation

Wilmington Real Estate Market Activity Report 3/10/23

The Real Estate Market Activity Report For Wilmington, Ohio, is available for review today.  You may have already seen the report if you follow us on Facebook.  If not, you can read the full report here.  What stuck out to me the most is how much stronger the Wilmington market seems compared to the Hillsboro market.

Click Here To Read The Full Report

Sold by Vance Team Realtors

Congratulations, Penny and Jessie, on the purchase of your new Leesburg, Ohio home.  Thank you for the opportunity to assist you with the home-buying process.

Sold by Vance Team Realtors

Thank you, Brad & Tamara, for the opportunity to help sell your Hillsboro home. Congratulations, Micah & Monica on the purchase of your lovely home.

Hillsboro, OH Real Estate Market Activity Report

People are asking, what is going on with the real estate market? Is this a good time to sell? Is this a good time to buy? How much is my home worth? These are questions we hear every day. It would be beneficial to share some data that might help answer some of these questions and inform you about what the local market is doing.

This article will hit the high points of the market activity report. Make sure to download the full report at the bottom of this page. As always, feel free to contact us if you have any questions about real estate.

Estimated Home Values For Hillsboro

The median estimated home value for Hillsboro, OH, 45133, is $175,000. That is down 3.24% over the past month and 7.61% over the last three months.

Hillsboro Sales Prices

The median sales price for homes in Hillsboro is $124,000. That is down 19.02% over the past month, 31.37% over the last three months, 41.25% over the past twelve months, and 7.07% over the past twenty-four months.

Hillsboro Median List Price

The median list price for homes in Hillsboro is $190,000. This is up 35.64% over the last month, 26.68% over the previous three months, 91.82% over the past twelve months, and 92.01% over the past twenty-four months. 

Where is the market heading?

With the median sales price declining steadily, home values have declined. Home values are still up 5.56% over a year ago, but the trend is heading lower. Because of low-interest rates and low inventory over the past twenty-four months, home values have increased to historic levels. The trend we see now is simply a correction to a market that has been too hot. 

Download the full report here.

Buyer's Market vs. Seller's Market

You might have heard the terms buyer's and seller's markets before. What do they mean? When is the best time to buy or sell? We are going to take a look at some significant differences between the two. The most important thing to remember is that people always buy and sell houses regardless of market conditions.

What Is A Buyer's Market?

A buyer's market typically favors the buyer in some way. Some factors lead to this. In a buyer's market, homes tend to sit on the market longer; there is more inventory, houses sell for less, and there are fewer buyers.

What Is A Seller's Market?

As the name says, a seller's market benefits the sellers over the buyers. Signs of a seller's market are fewer houses available for sale and a high number of active buyers in the market. In a seller's market, buyers are more likely to pay close to the list price and might find it challenging to get a seller to pay anything toward buyer closing costs.

What Kind Of Market Are We In Now?

Some experts say we are heading toward a buyer's market. We are slowly coming out of one of the best seller's markets in history, which started around early 2020. We are still deciding whether to say we are in a buyer's market. The rising interest rates have slowed buyer activity, and houses stay on the market longer. However, inventory is still historically low. 

If you are a seller, the best way to approach this market is not to overprice your home. Don't think you will get a steal if you are a buyer. Be prepared to pay close to the asking price if the house is correctly priced, especially if you need seller-paid closing costs.

Click Here to find out how much your home is worth with our instant home valuation.

Nice list of important phone numbers for Highland County residents