To better gauge the market, Kevin Wasie of Exactly real estate company always tell homeowners to look at what is happening in their neighborhood
By Laura Briedis
When you watch the news on TV or read national publications, you get a mixed message about the status of the real estate market. Local real estate expert Kevin Wasie cautions that a lot of what you hear is not always applicable to the Midwest.
“To better gauge the market, I always tell homeowners to look at what is happening in their neighborhood,” says Kevin, founder of Exactly real estate company. “For homeowners who are considering selling their home, now is the best time. Spring puts your house in the best light, and you never know what will happen with the market later this summer.”
While rising interest rates are cooling the market slightly, there is still a low inventory of homes, which makes it a good time to sell.
“Looking at Summit, Cuyahoga and Medina counties, in February 2022 the median time a house was on the market was 28 days, and now it is 39 days,” says Kevin. “It is taking a little longer to sell since interest rates have increased from 3 to 6.5 percent. But it is still good compared to the pre-pandemic market in 2018, when the median time was 69 days and interest rates were low.”
What do all these numbers mean? There are fewer buyers due to higher interest rates, which is increasing the average time it takes to sell a house. However, the median sale price in Northeast Ohio is 35 percent higher than it was 5 years ago—all pointing to a healthy market. With fewer homes on the market, the demand is still driving up prices.
“We just had an open house in the Revere School District, and we were the only home in the $200,000 to $1 million range listed in the entire area,” notes Kevin. “We had 25 groups come through the house.”
The homeowners sold their home quickly and for a premium price with Exactly’s $4,800 flat-fee rate, instead of a percentage of the sale.
“I believe flat-fee pricing is a fairer process,” comments Kevin. “Selling a home that is worth $500,000 takes the same amount of work as selling a $200,000 home, so I don’t think it is fair to charge so much more commission.”
The home-selling process is simple. An Exactly real estate agent provides an in-depth comparative market analysis, does a walk-though to make sure everything is ready in the home, creates a marketing plan and lists the home.
Once a buyer submits an offer on the company’s proprietary software, the computer program immediately generates an offer summary sheet detailing everything from the commission paid to Exactly and any applicable buyer’s broker commission, to home warranty costs and title insurance fees.
“The seller will know down to the penny how much money they will get from a prospective offer, thus helping with our negotiation strategy,” Kevin says.
“From there, we handle everything else with the bank, title company, appraiser, inspection and much more, all with a flat listing fee so homeowners will profit even more.”
To list your house or for more information, call 330-615-1414 or visit ExactlyUSA.com. Exactly Real Estate has moved into new offices at 2998 West Market Street in Fairlawn.