My New Blog

Seems everyone you talk to has a different opinion about basements.  One person said no matter how you cut it, it is still a hole in the ground.  In Ohio it is becoming ever more popular to "finish" off the basement into a liveable area. 

Some finish off basements for the children so they will have a good place to store all those toys, mini homes, dolls, cars, etc. and to play with them.  Seems logical.  Others finish off the basement so the teens will have a place to but their technological toys, music, computers, tvs, etc., as well as have a place to meet with their friends in a safe place.  Yet others see that basement living space for a bar for adults or perhaps a great place for a pool table or perhaps a very grown up media room complete with staggered and staged reclining chairs--with cup holders of course.

Still others see the basement as a place primarily suited for storage.  Or others as a great place for a work shop, laundry, or general work area. For these, finishing off a basement is needless. 

And the storm/tornado fearing element see basements as yet a haven of safety. Weather broadcasters recommend people find the lowest level in the home in the case of a possible high wind situation.  Personally, I don't remember ever going to the basement when there is a storm.  I am far too curious.  I want to watch the lightening and hear the thunder and see the hail and/or rain.  Not a good idea, and curiosity supposedly killed the cat.

Realtors long argued that finished basement area should be considered as liveable space in a house listing.  After a great deal of debate, our MLS finally decided to allow two home measurements.....one determined as space above grade as indicated by the auditor....and space that is actually considered finished for living....as in a finished basement.  There is still debate about egress and walk-out and windowless basements. 

All the reasons to spend time in a basement are probably totally legitimate, but I do not like basements. The idea of a very efficient under-ground home totally turns me off.  I like the sunshine and open areas, and windows...all those more or less inefficient (energy-wise) types of things. But basements are not my favorite place, no matter how beautifully it is finished.  I must agree with those who think it is a hole in the ground. Ha.

Okay. The schools have a levy on the ballot.  What does that mean to you?  This is one of those "beauty is in the eye of the beholder" situations. Where you stand may depend on where you sit.  Someone said that, and it makes a little bit of sense.  What are the factors involving those seemingly ever present school levies?  And how should you view them as a home owner?

First of all the part about where you stand and sit.....If you have school aged children, you are most likely very concerned about the quality of the education your children receive.  Grandparents have many times a similar concern about their grandchildren.  They only want the very best for their beautiful little charges. And yet many times parents of school-aged children are operating on pretty tight budgets and grandparents are many times on a fixed income. 

On the other hand, if you do not have children or your children are all through school, the school quality is not of as great a concern to you as perhaps that of parents or grandparents.  Of course they should be of concern to everyone to an extent, becasue after all, those children in school right now will be the ones running the businesses, hospitals and (good grief) nursing homes and eldercare facilities that we will may be frequenting in the future.  And of course, there is always that age-old argument involving the value of property.  As the schools go, so goes the community.  This may be an old adage, but it pretty much holds true. Good schools---good community support---good place to live.

Okay, so schools are important to all of us, but why those continuous levies? Schools are the vicitims of a funding fiasco in Ohio.  The method used to fund schools is incredibly complex, inefficient and inequitable.  For years the schools in Ohio have struggled to get the funding system changed.  In fact, at one point they won a lawsuit against the state to have the system changed. Yep, the Supreme Court of Ohio ordered the legislature to change the system of funding. But the legislature simply didn't respond to the order. Did anything happen?  Well, the made a few minor changes in this or that, but no substantive changes were made. 

Schools are cursed or condemned or some other unforgiveable verb which means they have no choice but to frequently return to voters to simply maintain a reasonable operating level.  How can that be?  Well, as stated earlier, the system is complex, so trying to make this understandable will be a bit obtuse, but in a nutshell, the funding is set up in such a way as to continually "roll back" funds for schools to adjust to inflation.  So, even though costs for food, books, supplies, and electricity may go up, salaries may rise, gasoline costs increase, requirements for schools increase, etc., the amount of dollars a district receives remains the same. 

It is only logical that at some point in time, a school will require additional funds and they have absolutely no other option but to get that funding through a vote.  Increases at the state level are seldom, if ever, sufficient to cover the increase in costs.

So there you have it.  Schools, just like many of its constituents, operate on nearly fixed budgets. When the costs exceed the income, money has to be obtained from some source.....or cuts will need to be made.  Some will argue some cuts are necessary.  This may or may not be true. What is clear is that our Ohio system of school funding is and has been broken for at least the last 32 years.  Until or unless some new system of funding is determined and implemented, schools will continue to be forced to place levies and issues on the ballot.

Should you vote for or against the school levy?  You have my perspective...now the choice is yours.

To Buy or not to Buy, that is the questions.....

Everyone says it is a Buyer's market.  But buyers are still trying to get sellers to lower their prices even though many of the sellers are already at a point of taking a loss.  Nevertheless, at some point a seller will just go into foreclosure before lowering the price to a point of taking money to the table. A number of my buying clients have saved thousands of dollars by entering into a short sale.  Short sales take longer than regular sales because of all the time involved with the controlling interest bank. 

However, if you are a first time home buyer it is a particularly good time to enter into a contract to buy due to the fact that there are funds available and sellers are anxious to work with individuals who do not have to sell prior to purchasing.

Nevertheless, if you are the owner of a home and are anxious to enter the selling market in order to buy one of these bargains, you may have a bit of a difficult time. 

Three things primarily impact whether or not a home will move quickly. First, and always first, is location.  Second is the price and third is the condition of the property.  People are still looking for a bargain price for a home in excellent condition and in a great location. 

But what constitutes a great location?  For most people, it has to do with proximity to something....whether that is nature, shopping, work, child clare, health care, conveniences or ready access to one or more of these.  In terms of price, the conventional wisdom would be for a property to be priced competitively with other homes of equal value in the area.  This ususally means priced just below competitors.  In terms of condition, a number of things are relevant including cleanliness, upgrades, interior and exterior factors and possibly even staging.

So, whether thinking about buying or selling, time, planning and effort are important factors in making and following through with your decision.