Well, this is embarrassing...

The summer real estate market is definitely busier and hotter (sorry) than winter and spring! Amidst all the hubbub I seem to have neglected my blog; while it's super that I've been super busy with existing and new clients, I'd like to take a moment to breathe. Inhale. Exhale.

One part about real estate you don't often read about is how we're held accountable to the codes and laws that govern our behavior. Naturally, a client or another agent could report a violation*, but there is also what we call testing. Most frequently used to enforce fair housing violations, testing involves fair housing groups contacting agents or landlords, usually posing as prospective clients or a series of prospective clients, to ensure that the agent or landlord is following established guidelines...and that they follow those guidelines consistently for every client regardless of their status or class. There are several protected classes under Ohio law:

It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing law, 42 U.S.C.A. 3601, as amended, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services. It is also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by representations regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes. (Emphasis mine, Source)**

I'm pretty sure I was tested this week. I'll never know for sure, unless I made a mistake, but I was contacted by a woman who wanted more information on one of my listings, and expressed an interest in scheduling some additional showings with me that would include that property. I set up a custom MLS search for her, from which she chose her favorites (I don't usually recommend specific properties without showing someone all possible matches for the search criteria -- that could be construed as steering a client to or away from a particular area). I was just waiting for her to confirm the showings, which would have started tomorrow.

But today, her email address is no longer valid. I never got a phone number because I'm an idiot who forgot to ask for it, and when she called me it showed up "No Caller ID."

I was disappointed for about 30 minutes. No one likes to feel like they've done work for no reason. But then the testing theory occurred to me, and I realized that this could have been my chance to prove that I'm a friendly, honest, ethical agent who just wants to help someone buy a home. And that actually makes me feel pretty good.

P.S. If the person I'm writing about is an actual client and we've just had a communication breakdown, thank you for inspiring a blog post & give me a call when you have a chance!

* If you feel that an agent has treated you illegally or unfairly, you can report their actions to their broker, the local Board of REALTORS® (if they are a member), or the department in your state that governs real estate licensing. In Ohio, this is the Ohio Division of Real Estate & Professional Licensing.

** The Code of Ethics adopted by the National Association of REALTORS adds sexual orientation and gender identity to the above classes; those above are protected under federal or state law (or both). I'll save explaining that distinction for another post. 

Privacy forever!

Did you know that your real estate agent has a legal obligation to keep all details that are not public record regarding your sale or purchase private? Forever?

Public information varies depending on where you live, but in the Greater Cincinnati area the public has access to the following details about residential transactions:

• When you purchased or sold a property and to whom
• What the property taxes are on the property and whether they are current
• Your tax mailing address

In addition, real estate agents, lenders, appraisers, and other real estate professionals have access to some additional data. This is to assist us in making fair evaluations of properties and their values by providing us a more complete picture of how real estate transactions usually happen:

• The type of financing used to purchase a property (e.g. conventional, FHA, cash)
• The amount of time the property was on the market
• Any additional incentives offered as a part of the sale (e.g. seller-paid closing costs)
• Whether the property has any history of foreclosure action, even if it was resolved

Have I left anything out? If you have questions or comments about privacy in real estate, let me know in the comments!

The Story Behind This New Listing

Within walking distance of Beech Acres Park, this neglected Cape Cod had seen better days. My mother, a former Marine who grew up on a Michigan dairy farm, decided in January of this year that 1236 Burney Lane was a good candidate for her latest endeavor: making distressed properties livable again. Mind you, she has a full-time career in renewable energy, so some of the work -- including new plumbing, electrical, and custom carpentry -- was done by professionals. But my power-tool wielding mom definitely made her mark by re-designing the kitchen and baths, refinishing the hardwood floors, customizing the dining room cabinets, and tweaking everything until it was just right!

If you're in the market for a new home in Mount Washington, I hope you'll take a look at this one! We are not holding an open house this weekend because Sunday is MOTHER'S DAY, but feel free to schedule a showing with me or your favorite real estate professional.

How To Be A Well-Prepared Home Buyer

You want to buy a home, which is awesome. Home ownership is consistently ranked as a key indicator of personal wealth, and paying your own mortgage sure does sound better than paying your landlord's. But just as you should eat before going grocery shopping to avoid splurging on Oreos & Cheez-Its, there are some good ways to prepare yourself before you start touring the open house circuit.

1. Figure out what your credit situation is. You can get a free credit report once a year courtesy of the US government, or pay a few dollars to get the latest one if you already did that more than 30 days ago. Also, if you aren't already, try tracking your expenses with Mint or something similar so you know where your money is going. If your credit score could be improved by paying off some debt, do it!
2. Start adding to your savings account. Even if you only have $50 a month to spare, start setting up a nice sized savings account. This will make you more attractive to lenders, and you're going to need money for the down payment, inspections, closing costs, moving expenses, and home improvement items (because everyone changes something when they move in!).
3. Talk to at least three lenders and get pre-approved. Each lender should pull your credit, so make sure you do this within a 30-45 day period so it looks normal on your credit report. Remember, they want your money as much as you want a new house, so ask about incentives, down payment assistance, monthly payments, and closing costs.
4. Look at houses -- online, not in person. Now that you have an idea of how much you can afford to spend, think about where you'd want to live and what you absolutely must have in a home. Search for homes in your price range and area that meet your minimum criteria. If you have a good number of matches, that's a good sign. I recommend using Realtor.com because it has the most up to date information, but Zillow and Trulia work also. Save your favorites.
5. Find a Realtor you like and trust. Why use a buyer's agent? It doesn't cost you anything (they will get paid at closing out of the commission the seller pays to the listing broker), and you'll have greater access to properties on the market -- the listing agent might not have time to show the home to you, and they represent the seller. If you can provide your Realtor with your pre-approval letter and a list of homes you like in that price range, that agent will instantly have a better idea of what you're looking for.
6. Look at houses in person! Finally! I know, seems like you waited forever for this. But you're making a big decision and you want to be prepared, right? That way, when you find the right house at the right price you and your trusted real estate advisor will be ready to write an offer immediately!

For more advice, check out this article from Girl's Guide to Real Estate or this one from The Simple Dollar.