Northeast Ohio

Real Estate

February 21, 2025

Happy Friday!

Hope you're doing well and had a great week!


Thank you for checking out this email. If you have any questions, please don't hesitate to reach out. Stay warm!



-Pat

FHA loans are an excellent option for many buyers. I have a client closing on one Monday and it was a very smooth process all around. The biggest problem with FHA loans are the misconceptions sellers and listing agents have about them. This can lead to confusion, with sellers preferring conventional loans, even sometimes with a lower number of worse terms. The bottom line is if you are a buyer or a seller, talk to a professional (realtor and loan officer!) to explain fully the pros and cons of financing with FHA versus Conventional versus a VA loan. If cash is an option, you can always finance after closing with a unique refinance called "delayed financing." My most savvy buyers use this method and I'm happy to explain this to you if you're interested in learning more.

MARKET NOTES

As I talk to agents at Keller Williams and at other brokerages, I'm hearing a very common theme. There are lot of sellers who need to buy before they put their home on the market. With this, it seems like there is a fair amount of inventory that should be opening up as the winter thaw warms into the full Summer market.


Personally, I am working with 9 sellers who will be putting their home on the market as soon as they get their next home under contract. We are actively looking (and writing offers) all over Northeast Ohio. It feels like a domino effect will soon be in play as buyers become sellers who open up the market to new buyers.


One other more recent change is that I'm seeing more out of state investors look all over Cuyahoga County rather than solely in Cleveland itself. Cleveland will be having changes with their city requirements for investors, and that's opening up opportunities in suburban areas. Over the last few weeks. I have noticed this more than once. This is something I will continue to monitor.

PARTNER OF THE WEEK


As some of you may know, I began my real estate career within a year of graduating from John Carroll at a local title company in Middleburg Heights. In this job, I learned the in's and out's of the industry. I scheduled signing appointments, wired funds, conducted and notarized closings, met with survey crews, helped with deeds, filed transfers at the courthouse, and more. Needless to say, this was a great introduction to the "back office" side of real estate. Knowledge and skills I still use on a day to day basis helping my clients navigate not only the market, but the home sale process.


Title companies are a vital part of the transaction. They ensure no ownership issues, resolve unexpected liens, transfer ownership, research unpaid mortgages, payoff loans, prevent illegal deeds from filing, issue title insurance, manage and wire the funds, balance with the lender, verify boundaries, and much more. Essentially, they do all the important background things that are necessary to create trust, which is the most vital part of the real estate economy.


With this mind, I was proud to have been approached by one of the top title companies in Ohio, Infinity Title, to work together back in 2023. I gladly accepted their offer and have had a strong partnership with this highly regarded organization ever since.


What this means to my clients is that when they work with me and Infinity Title, I have a dedicated team working directly with me on all of my files. My crew (who I am very happy with!) know exactly how I conduct business and they partner to ensure the highest level of service. In the unlikely event of an issue, I simply make a phone call to my escrow team (or the owner of the company) and I can help solve anything in a very timely manner.


Any questions about title companies, title insurance, or Infinity? Most people are not intrigued by this, but I am happy to chat :)


-Pat

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Pat Barmann
216.990.5719