Is Toledo The Most Affordable Real Estate Market In America? – Justin Annis
On this episode of The Closing Table, we sat down with Justin Annis!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Justin Annis…
The conversation began with Justin introducing who she is beyond the world of property transactions. He introduces himself as a devoted dog dad. His life revolves around the companionship of his loyal canine friend, and together, they call Toledo home. Nestled in their house, Justin enjoys the everyday pleasures that come with homeownership and all that it entails. When he’s not immersed in the dynamic world of property transactions, you’ll often find him in the gym, honing his physical prowess, or on the golf course perfecting his swing. Beyond his personal pursuits, Justin cherishes moments spent with family and friends, relishing the joys of an active lifestyle in various forms.
Justin’s professional journey in real estate reflects a keen understanding of his niche market. He predominantly works with first-time homebuyers, aligning with the life stage many in his generation are currently experiencing—the pursuit of homeownership and the desire to settle down. Additionally, he has honed his expertise as a seller representative specialist, assisting clients in both downsizing and upsizing endeavors.
Understanding the Toledo real estate landscape requires acknowledging the influence of the local economy on market trends. In Toledo, a diverse job market comprises industries ranging from manufacturing to healthcare and education. This multifaceted economy has a direct impact on real estate dynamics, raising questions about the timing of increased activity resulting from job relocations or the influx of recent graduates entering the workforce.
Justin provides valuable insights into this connection between the local economy and real estate trends. In Toledo’s market, there’s a notable presence of investors seeking opportunities in the real estate sector. These investors are eager to discover properties suitable for renting to traveling nurses, union workers, and others in need of temporary accommodation. Justin’s role often involves catering to these investors’ needs by identifying properties that align with the demands of these industries.
In real estate, sometimes unconventional property features or layouts can initially deter potential buyers. Jaime shares an example from her experience, where a property had an aging barn that needed significant attention, possibly even demolition. However, the clients fell in love with the farmhouse itself. The barn presented a hurdle as they were hesitant to take on the associated costs. In such situations, during the negotiation phase of the contract, Jaime suggests exploring options to divide the cost between the buyer and seller or finding a compromise that satisfies both parties, ensuring a win-win outcome.
As for the seasonality of real estate activity, Justin sheds light on the patterns observed in Toledo. The period from summer to October emerges as a particularly bustling time, especially in proximity to major university areas. During this timeframe, real estate activity experiences an uptick, likely influenced by graduates entering the workforce or job relocations associated with the academic calendar.
Justin’s ability to turn skeptical or hesitant clients into satisfied ones is a testament to his expertise and dedication in the real estate industry. He recently had an experience with an older couple who were looking to purchase a ranch-style home in preparation for their upcoming marriage. However, their main concern was the current shortage of available properties, fearing they might end up homeless if they sold their existing houses before finding a suitable one.
In response to this challenge, Justin took proactive steps to build trust and meet their needs. He initiated a candid discussion with the couple to formulate a game plan. This involved consulting with a lender to explore their financial options. Importantly, Justin helped them realize that they didn’t necessarily need to sell their houses before buying a new one. This insight allowed them to start their search immediately. Fortunately, they found a home they loved, and the timing worked out perfectly. After closing on their new house, they listed their previous two homes without the risk of homelessness. Justin’s ability to navigate this complex situation and guide his clients to a successful outcome showcases his dedication to meeting their needs and earning their trust.
Justin’s approach to marketing properties is marked by creativity and quality. He understands the importance of making a lasting impression in a competitive market. For instance, he invests in high-quality mailers, opting for thick, glossy postcards that stand out. While this may come at a premium cost, Justin believes it’s worth it, as it can yield unexpected results. He shared an example of a postcard he sent out, which prompted a call from a local resident who wasn’t even in the market to buy or sell real estate. This resident simply wanted to compliment Justin on the postcard’s quality.
Additionally, Justin incorporates video marketing into his strategy. Whether it’s an open house tour or a virtual walkthrough, these videos offer potential buyers a unique perspective on a property. They also prove invaluable for out-of-state buyers who can’t physically visit the property. Justin’s commitment to prioritizing quality in his marketing efforts demonstrates his dedication to presenting properties in the best possible light.
Justin’s real estate journey has not only been about transactions but also about forming meaningful and lasting relationships with his clients. He shared a heartwarming story of an older couple who initially approached him after spotting one of his listings in Toledo. What started as a random conversation quickly blossomed into a lifelong friendship. Despite the age difference, the couple and Justin forged a close bond. They attended each other’s family events, cookouts, and even became acquainted with Justin’s dog.
Justin’s real estate journey has not only been about transactions but also about forming meaningful and lasting relationships with his clients. He shared a heartwarming story of an older couple who initially approached him after spotting one of his listings in Toledo. What started as a random conversation quickly blossomed into a lifelong friendship. Despite the age difference, the couple and Justin forged a close bond. They attended each other’s family events, cookouts, and even became acquainted with Justin’s dog.
This enduring relationship showcases the profound human connection that can develop through real estate transactions. Justin’s ability to bridge generational gaps and build strong personal connections with his clients reflects his passion for the industry and his genuine desire to make a positive impact in people’s lives. It underscores why he entered the world of real estate in the first place — to create meaningful and lasting relationships while helping clients achieve their real estate goals.
Next, Justin’s extensive certifications, including Property Staging Consultant, Pricing Strategy Advisor, and Seller Representative Specialist, have significantly enriched his ability to serve clients effectively. Let’s explore how each of these designations has played a vital role in specific client scenarios.
Justin’s journey began with the certification as a Property Staging Consultant. This credential has allowed him to transform houses into inviting and comfortable homes for potential buyers. By going the extra mile with this certification, he not only helps sellers prepare their homes for marketing pictures but also assists buyers in optimizing their new spaces, whether it’s through selecting paint colors or arranging furniture.
His expertise as a Pricing Strategy Advisor comes into play when working with both buyers and sellers. For buyers, Justin uses his knowledge to analyze comparable sales (comps) in the area, ensuring that the offers they submit are competitive and align with the property’s true market value. This ensures that clients don’t overpay for a property, a common pitfall in competitive markets. On the seller side, Justin’s ability to accurately price homes prevents them from sitting on the market, resulting in multiple offers and a smoother transition to the next chapter for the sellers.
The Seller Representative Specialist designation underscores Justin’s competence in handling the complexities of listing and selling homes. From ensuring all necessary documents and addendums are in place to representing sellers professionally, Justin provides a comprehensive and expert service that benefits his clients.
Toledo’s affordability has a significant impact on the types of clients Justin works with and the range of properties available. The average home price in Lucas County hovers around 155-156k, making homeownership accessible to a wide range of buyers. This affordability has attracted out-of-state and international investors, contributing to a diverse clientele.
First-time homebuyers, in particular, benefit from Toledo’s affordability. Justin recounted the story of a 19-year-old client who had always aspired to be a homeowner rather than a renter in his twenties. Together, they formulated a plan, and Justin helped him find a home priced at around 120k. This experience showcased that homeownership is attainable at a young age, and it left Justin proud to witness the younger generation taking steps toward their homeownership dreams.
The conversation wraps up with Justin sharing his approach to owning a home given the knowledge and resources he has today. Justin emphasized the importance of starting with a conversation with a lender. Speaking to a lender is the first crucial step in understanding one’s financial qualifications and creating a game plan for homeownership. Justin advises against house hunting before this conversation, as it can lead to disappointment if the budget doesn’t align with expectations. Real estate agents, like himself, can provide valuable referrals to trusted lenders, making it easier for potential buyers to embark on their homeownership journey with clarity and confidence.
Check out Justin Annis:
Facebook: https://www.facebook.com/JustinAnnis15
Facebook Business Page: https://www.facebook.com/JustinAnnisRealtor
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