Will We Run Out Of Our Supply Of Homes In Northwest Ohio? – Julian Wayne
On this episode of The Closing Table, we sat down with Julian Wayne!
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 Julian Wayne…
The conversation began with Julian Wayne, a 30-year-old native of Northwest Ohio, sharing a glimpse of his life beyond the realm of real estate. He’s not just a real estate professional; he’s a soon-to-be-married man, cherishing the companionship of his fiancée. They’ve been building a cozy household together in Sylvania for the past four years. Their lives are enriched by their love for their pets, quality time with family and friends, and Julian’s passion for high school baseball umpiring. Additionally, he dedicates a significant portion of his time to volunteering within his community.
Julian embarked on his real estate journey just under three years ago, with his three-year anniversary approaching in mid-October. Notably, he expanded his licensing to include Michigan last year, making him a licensed real estate professional in both Ohio and Michigan. While he’s seen some success in Michigan, the lion’s share of his achievements stems from the local Toledo area.
His real estate expertise extends across Northwest Ohio, with a particular focus on the West Toledo and South Toledo regions that he has called home for his entire life. In light of recent market trends, Julian has observed a consistent year-to-year decline in available inventory, a trend mirrored in real estate markets nationwide. This scarcity of housing options has driven up demand, leading to a 1.9% increase in the average sale price in Northwest Ohio. Currently, the average sale price hovers around $212,000, with prices per square foot ranging from $100 to $150.
In his spare time, Julian engages in stand-up comedy, a passion that has unexpectedly enhanced his skills as a real estate professional. Comedy has proved to be a catalyst for creativity and an avenue for honing his ability to read various situations accurately. This skill is particularly valuable when collaborating with local estate attorneys in real estate transactions, often involving individuals dealing with the loss of a loved one. Comedy, in Julian’s view, not only cultivates a sense of humor but also fosters empathy and provides insights into appropriate responses in sensitive situations.
Reflecting on his rewarding experiences in real estate, Julian shared a recent transaction that left a lasting impact. A client, eager to secure a lakehouse for her family’s enjoyment, swiftly found the perfect property. This sale held a special significance, as the house had been a repository of cherished memories for the previous owner and their loved one. Witnessing the connection between the buyer and the seller, both with heartfelt ties to the property, was a touching experience for Julian. He felt privileged to play a small role in this meaningful transition, knowing the house would now continue to hold precious memories for generations to come.
When it comes to expressing appreciation to clients after a successful property transaction, Julian admits to being fairly simple in his approach, often opting for a heartfelt card or a practical gift card. He appreciates the personalized touch of customized gift baskets that some fellow agents adeptly employ, recognizing the art of gift-giving as an aspect of being a real estate agent. Each gesture is a testament to the unique connection forged with clients, marking the closing of a significant chapter in their lives.
One aspect of the home-selling process that often escapes notice but is crucial to understand is holding costs. Holding costs encompass various expenses associated with owning a property beyond the initial purchase price. Julian emphasizes the importance of clarifying this concept during consultations with clients. He uses a helpful app provided by a local title company to provide clients with accurate estimates, whether they’re actively considering a home or exploring potential scenarios. Julian believes in breaking down the cost of homeownership into distinct categories, such as the cost of acquisition, prepaid expenses, and future considerations. This method facilitates client comprehension and ensures they are comfortable with their decisions.
The conversation wraps up with Julian reflecting on how he would approach homeownership with today’s resources and knowledge, he advises being prepared for potential challenges while maintaining strong financial readiness. He stresses the significance of holding onto property as a robust hedge against economic downturns. Julian’s key advice is to avoid overspending and keep housing expenses within manageable limits. He emphasizes the need to align wants and needs with one’s current lifestyle while leaving room for future income growth. Accumulating equity in one property can pave the way for future real estate investments.
Julian underscores the importance of financial consciousness and responsible decision-making, highlighting that while substantial wealth isn’t a prerequisite, it certainly helps. Ultimately, he encourages individuals to be both mentally and financially prepared and to anticipate potential challenges, acknowledging that unforeseen issues can arise in the realm of real estate. In this context, a proactive and informed approach is invaluable for navigating the complexities of homeownership.
Check out Julian Wayne:
Facebook: https://www.facebook.com/profile.php?id=100005632156176
Facebook Business Page: https://www.facebook.com/JWayneRealEstate
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