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Date Archives: April 2022

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April
22

The financial requirements for obtaining a mortgage and purchasing a home can be a common real estate question frequently misunderstood by many potential home buyers. We put together a quick and easy guide for potential home buyers to identify which loan option is best for them and the minimum financial requirements needed.

April
15

Common Real Estate Myths, Continued

Last week, we published a few common real estate myths relating to the current housing market. In an effort to clarify some common misconceptions that we frequently hear, we put together another list of common real estate myths and the reality behind each of them. 

MYTH: You need to put 20% down when purchasing a home.

TRUTH: Some loan types offer the option to put as little as 3.5% of the purchase price down. This option does depend on the buyer's credit score and the down payment requirement may vary. For example, FHA loans will accept between 3.5-10% of the purchase price as a down payment depending on the buyer's credit score. 

MYTH: You need perfect credit to buy a home.

TRUTH: You do not need a perfect credit score to buy a home. Depending on the lender and your credit score, you may be required to pay a higher down payment. In general, having a higher credit score will increase your chances of approval and a lower interest rate in comparison to a lower credit score.

MYTH: You should wait until the spring season to buy or sell a home.

TRUTH: The Real Estate market over the last two years has been deviating from the not-to-distant past market norms. Due to low inventory and high demand, there has been a steady flow of buyers and not enough sellers. If you are ready to sell your home, you do not need to wait for a specific season. Find a timeline that works well for you and make the jump. For buyers, being flexible and having your finances ready to go will make the process that much easier.

MYTH: A down-payment is the only upfront cost you will endure when purchasing a home.

TRUTH: The down payment is only one of the few upfront costs that buyers will need. Other upfront costs include closing costs, earnest money, inspection fees, and potential moving costs. 

MYTH: Getting pre-approved for a loan doesn't need to be a priority when you are just preparing for a home search.

TRUTH: The current market is competitive and homes are moving fast. Having a pre-approval before beginning a home search will help speed up the process. Due to the high competition, many sellers will only accept offers accompanied by a preapproval letter. When searching for a home, having a pre-approval letter in hand will only increase your chances of purchasing a home that is a good fit for you.

April
8

Buying or selling a home can be a confusing or tedious process. With so much information available, there are several misconceptions that can pose potential problems for buyers or sellers when participating in the current real estate market. Below are 6 common myths when it comes to buying or selling a home. 

MYTH: Hiring a real estate agent is a waste of time. 

TRUTH: Whether you are selling or buying, hiring a real estate agent has a number of benefits. For buyers, working with an agent helps you navigate the task of finding the right home, making a fair offer, and what happens after your offer has been accepted. For sellers, hiring a realtor will help you determine the best price to list your home, what upgrades or changes need to be made, and will be able to walk you through the closing process. 

MYTH: All realtors are the same. 

TRUTH: You want to find a realtor who has experience in the market you intend to purchase a home in. Your realtor should be familiar with the neighborhood and what other homes are selling for in the area. If you are a first time buyer or investor, working with an agent who is familiar with your situation will benefit you most in the long run.

MYTH: All upgrades to your home will increase the value of your home.

TRUTH: Not all upgrades to your home will show a return on investment. Consulting with your agent about what projects should be completed prior to listing your home is a good way to isolate which will get you the best bang for your buck.   

MYTH: Real Estate websites always show the most up to date market availability. 

TRUTH: While online realtor websites collect a ton of useful data and offer great information for both buyers and sellers, the information is not always the most up to date. A listing on Zillow.com, for example, may show that it is still active when in reality it is under contract already. When in doubt, check with your agent to confirm if the property is still available. 

MYTH: Inspections aren't always necessary.  

TRUTH: Regardless of the state of the home, inspections are important when purchasing a home. Whether or not a home was well taken care of, having a thorough inspection done to the home helps to ensure you are prepared what projects may be down the line or negotiate with the seller if necessary.

April
1

The greater Cleveland area is home to an abundance of higher education institutions and is a well-known platform for musical history. Cleveland is a city with a strong pride in the community and the arts, including broadcast radio. Whether you are a recent Cleveland transplant or a long time resident, these stations are a must-listen. 

Below are the top 6 Cleveland college radio stations in Northeast Ohio. Check them out and let us know which station is your favorite! 

  • 91.1 WRUW-FM Case Western Reserve University 

WRUW was initially founded in 1946 with its first official licensed airdate occurring in February of 1967. The station mainly features indie rock and pop musical genres in addition to jazz and classical. The station also features a few talk shows and one news show. 

Click here to visit their website!

Click here to listen. 

  • 89.3 WCSB Cleveland State University 

WCSB radio first aired in May of 1976. The station plays a variety of musical genres and features weekly public affairs programs that discuss a range of topics varying from social justice to space exploration.

Click here to visit their website!

Click here to listen.

  • 88.7 WJCU John Carroll University 

WJCU first aired in May of 1969. In the present day, the station features a wide variety of programs ranging from music, talk/spoken word, and ethnic/community shows. 

Click here to visit their website!

Click here to listen.

  • 88.3 WBWC Baldwin Wallace University 

The Sting went on the air in March of 1958 with a primary focus on alternative modern rock and an occasional broadcast of a variety of musical genres. In addition to musical broadcasting, the station also includes news coverage from the Associated Press. 

Click here to visit their website!

Click here to listen. 

  • 91.5 WOBC-FM Oberlin College

On the edge of the greater Cleveland area, Oberlin College's WOBC radio was first broadcasted in November of 1950 and officially aired in 1961. Today, the station plays a mix of musical genres ranging from pop to jazz, hip-hop, and classical. The station also features radio dramas, talk shows, and news casting. 

Click here to visit their website!

Click here to listen. 

  • 88.1 WZIP Kent State University 

Just north of downtown Cleveland, Akron is home to Northeast Ohio's WZIP radio station. The station was initially founded in December of 1962 and airs music during the week and various non-music programming on weekends. These programs include news, sports talk, and public affairs. 

Click here to visit their website!

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