Interest rates for buyers are at historic lows and sellers are cashing in, on their terms

By Patricia Nugent

Over the past 14 years, Howard Hanna Real Estate agent Amy Hoes has weathered the rollercoaster housing market in Medina County, becoming the name to know when it comes to providing personalized service and taking the stress out of buying and selling homes.

“The current sellers’ market is a challenge due to lopsided supply and demand,” she reports. “I’ve really never seen anything like this. Even though interest rates are at a historic low, there are so few homes on the market to sell that we cannot meet the demand from our large pool of buyers.”

Amy notes that she and her team had a big growth year in 2020, increasing their sales volume by nearly 50%.

“What we are seeing now is that sellers hold all the chips when it comes to negotiating their sale,” she explains. “I can help them be creative contractually. For instance, with someone who wants to sell but has not found another house to buy yet, we can stipulate an extended close date to give them more time to find the perfect next home.”

She explains one of the causes for current market conditions is that not enough homes have been built over the past decade to satisfy the influx of people moving into the area and newly formed households.

“Over the past three years, the number of homes on the market has followed a downward trend, with the number in January and February of this year being historically low,” she says.

The Amy Hoes Team
Howard Hanna’s Amy Hoes knows that “teamwork makes the dream work.”

Amy’s team proudly goes above and beyond for all of their clients. With the entire team hailing from Medina County, they are each a go-to source for all things Medina County, from the ever-changing market to local hot spots to visit in your new neighborhood.

Low Interest Rates for Buyers
“Even though this is a sellers’ market, it’s also a wonderful time to be a buyer,” she says. “With such low interest rates, pushing 2%, they have more purchasing power than ever. For example, if you bought a $250,000 home five years ago with a 5% loan, your monthly mortgage payment would be about $1350. If you bought the same house now, with a 2.5% interest rate, your monthly payment goes down to about $950, a significant savings.”

Amy says people often ask her if we are headed back to the housing market drop of 2008.

“The reason we are not likely to see a repeat of 2008 anytime soon is that back then there were hundreds of homes on the market in our area,” she says. “And back then, lenders were handing out mortgages like candy to those who were not qualified. That doesn’t happen anymore.”

Wonder What your Home is Worth?
If you’re looking for a ballpark of how much your home is worth, there’s an automated home value calculator link on Amy’s site, AmyHoes.com.

“But if you really want to know the best price for your home, nothing compares to me actually walking through,” she says. “The art of pricing a home for a fast and profitable sale depends on more than just square footage and acreage and what the other homes on your street sold for.”

Get Ready to Sell
It turns out what your mother said about only having one chance to make a good first impression is right on the money when it comes to getting your home ready to sell.

Howard Hanna Real Estate Agent Amy Hoes suggests these spring cleaning tasks to make your home’s first impression to buyers as inviting as possible:

• Boost your curb appeal by paying attention to your front door and entryway. Paint the door if it’s faded, clean the trim if needed.
• Nothing spruces up a space like a fresh coat of paint. Amy goes as far as giving her clients a preferred list of best-choice paint colors for their home’s interior and exterior.
• Start packing before you move. The rule of thumb is to clear out half of your closets, half of your drawers. A little clutter detox goes a long way.

Springtime Uptick
Springtime traditionally means an uptick in the market, and Amy hopes more people choose to sell their homes.

Tapping into the latest tech—3-D camera work and FAA-authorized drone photography—has always been key for Amy and her husband, Kurt, who runs her numbers. They are also adept at social media marketing to put a home in front of qualified buyers.

Amy and Kurt have always been active in the Medina community, acting as charitable supporters of Medina’s schools and sports teams that their children attend and play on. Daughter Atalie has graduated from Medina High School and is now a student at Bowling Green State University, son Bryan is an MHS freshman.

“We see our clients as our neighbors,” she says. “And they know us as more than real estate agents.”

Howard Hanna Amy Hoes’ office is located at 3565 Medina Road, in Medina. You can call or text Amy directly at 330-416-1597, email AmyHoes@gmail.com, or visit AmyHoes.com to find out more. Just give Amy a call and she’ll pop over to discuss your home’s potential and give you a free market analysis.