Are People Leaving For Cleveland? – Tiffany Schwegel

On this episode of The Closing Table, we sat down with Tiffany Schwegel!

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 Tiffany Schwegel…

The conversation began with a fill-in-the-blanks icebreaker on what every realtor needs to know, the first thing to do when buying a home, and more. Tiffany then introduces herself as an avid traveler and a firm believer in the value of exploration. In addition to her love for travel, she is a dedicated learner and has set her sights on obtaining her master’s degree. Professionally, Tiffany serves the Cleveland Ohio area, which is known for its highly competitive real estate market. With a surplus of potential buyers, the area is undoubtedly a listing market, presenting unique challenges and opportunities for those in the industry.

When it comes to the Greater Cleveland area, one question that often arises is whether certain neighborhoods are experiencing higher demand for housing than others. This is an important consideration for both buyers and sellers, as it can impact pricing and competition in the market. According to Tiffany, one neighborhood that is currently drawing more interest is Downtown Willoughby. This area stands out for its walkability, which is not something that can be found in many of the suburbs. Thus, more and more people are flocking to this neighborhood in search of the urban lifestyle it offers.

Another important topic when it comes to buying a home is the different types of lender letters that are available. There are three main types: pre-qualification, pre-approval, and fully-underwritten pre-approval. Each type offers a different level of detail and can impact the buying process in various ways. Tiffany explains that the first type of lender letter is essentially just a piece of paper that confirms the lender knows your name. The pre-approval letter is more detailed and requires the lender to verify important factors like work history and income. Finally, the fully-underwritten pre-approval is the most thorough of the three, as it involves completing the underwriting process and being fully approved for a specific loan amount.

One other tip Tiffany shares is the importance of choosing a local lender for buyers who are facing a lot of competition in the market. While national lenders may offer certain conveniences, their customer service can often be slower and less personalized than a local lender who is more familiar with the area and can provide better support throughout the buying process.

Next, Kevin points out how navigating the current real estate market can be challenging, as pricing errors can be costly for those looking to sell their property. In order to address this issue, Tiffany discusses the importance of managing clients who may want to sell for the highest possible profit without considering contingencies. She advises that buyers are now highly informed, and will quickly recognize if a property is overpriced, leading to a stigma that can create further challenges. To avoid this, it is essential to price the property competitively and ensure that it is presented in a way that draws traffic to it.

As the market continues to evolve, one trend that has emerged is the increasing homeownership rates among younger generations. Specifically, both Gen Z and Millennials are showing higher rates of homeownership than their parents did at the same age. Tiffany notes that these buyers are highly informed and tech-savvy, and are looking for agents who can help them navigate the market quickly and effectively. She enjoys working with these younger buyers, as they are eager to learn and appreciate the support provided by experienced agents.

The conversation wraps up with Tiffany discussing the potential benefits and drawbacks of delaying a home purchase. While nobody can predict with certainty what the market will do, she notes that in Cleveland, the market tends to be more steady than volatile. This can be reassuring for buyers but also carries risks. Tiffany advises her clients to stay informed about interest rates and make sure they find the right home for them, rather than rushing into a decision based on market conditions.

Check out Tiffany Schwegel:

https://www.facebook.com/tiffany.schwegel

https://www.facebook.com/tiffanyschwegelKW

https://www.instagram.com/tiffany_schwegel/

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