Seller Insights

Learn the step-by-step process of filing evictions in Cleveland, including legal requirements, necessary documents, and tips for a smooth procedure.

In the world of real estate, success often hinges on the ability to prioritize your efforts and resources effectively. Pareto’s Principle, commonly known as the 80/20 rule, is a concept that can be applied to enhance decision-making and optimize outcomes. This principle suggests that roughly 80% of effects come from 20% of causes. In the context of real estate, this means identifying and focusing on the key factors that drive the majority of value or speed in property transactions. Identifying the Vital Few The first step in applying Pareto’s Principle is to determine the ‘vital few’ factors that will have the most significant impact on the sale or purchase of a property. For sellers, this could mean focusing on the aspects of a home that are most appealing to buyers. As noted in Swift Sale Top Dollar: Your Home Selling Blueprint by Gladimir Lobo, perceived value plays a crucial role in the urgency to buy. A well-priced home that matches the buyer’s specific needs and desires can lead to offers within weeks, highlighting the importance of targeted marketing and presentation. A Tale of Two Sellers: Embracing the 80/20 Rule Meet Freya and Liam two homeowners in a well-established neighborhood, both eager to sell their homes. Freya, a firm believer in Pareto’s Principle, decided to focus her efforts on the 20% of tasks that would make 80% of the difference in her home’s appeal. She invested in minor renovations that had a significant impact, such as updating the kitchen and the master bathroom, and decluttering the living spaces to make them appear larger and more inviting. Liam, on the other hand, spread his efforts thinly across various tasks, many of which had little to no impact on his home’s saleability. He repainted every room, redid the landscaping, and replaced all the light fixtures, exhausting his budget without significantly increasing the home’s value.   Freya’s targeted approach paid off. Her home attracted multiple offers within the first month, and she sold it for a price well above her listing. Liam’s home lingered on the market for several months, and he eventually had to drop the price to attract buyers.   The story of the sellers exemplifies the power of Pareto’s Principle in real estate. By identifying and focusing on the key improvements that truly matter to buyers, sellers can maximize their returns with minimal effort and expense. The Smart Buyer’s Approach: Leveraging the 80/20 Rule Imagine Avery, a first-time homebuyer, who understood the value of Pareto’s Principle in their search for the perfect home. Instead of viewing every available property, Avery focused on the 20% of homes that met their most important criteria: location, price, and potential for appreciation.   Avery’s real estate investor-agent, well-versed in the 80/20 rule, helped them identify properties in up-and-coming neighborhoods that were within their budget and had strong indicators of future value growth. They concentrated their efforts on these select few properties, which allowed Avery to make quick, informed decisions without feeling overwhelmed by too many options.   This strategic approach paid dividends when Avery found a home that not only met their essential criteria but also had most of the additional features they desired. By focusing on the key factors that would impact their long-term satisfaction and financial stability, Avery was able to make a competitive offer and secure their dream home.   Home buyers can apply Pareto’s Principle to streamline their search process and focus on the factors that will provide the most significant benefit. It’s a testament to the principle that sometimes, less is more, and that concentrating on the vital few can lead to the best outcomes in real estate decisions. Conclusion In conclusion, Pareto’s Principle offers a strategic framework for making informed decisions in real estate. By focusing on the vital few factors that drive the majority of value, you can optimize your efforts, allocate resources wisely, and achieve greater success in your transactions. Whether you’re a homeowner looking to sell, or buyer looking for a dream home or profitable investment property embracing the 80/20 rule can be a game-changer in your real estate endeavors. Ready to sell your home or start the buying process? Our investor-agents are ready to support your real estate goals. Get more information on Selling or Buying. 

Investing in real estate can be a lucrative venture but managing a property can be a daunting task- especially for remote investors. That’s where professional property management services come into play. Dwelling Network, as a provider of exclusive property management services, helps owners maximize their profits and reduce stress. Why Choose Dwelling Network for Property Management? 1. Expertise and Experience Leveraging our firsthand experience as investors/owners, Dwelling Network’s property management team implements effective solutions that enhance your investment’s performance. Did you know that 2024 in Cleveland we saw updates in ordinances that affect non-owner-occupied properties, the nature and consequences of housing violations, and the types of registrations and certifications needed prior to renting? With a deep understanding of the industry and a proactive approach, our comprehensive expertise encompasses all facets of property management, from compliance to strategic marketing to fostering strong tenant relationships. We are committed to maximizing occupancy rates and upholding the highest standards, ensuring your property can be profitable.  2. Customized Services Dwelling Network prides itself on addressing the unique circumstances of each property. Whether a property is vacant, in need of repair or upgrades, occupied by non-paying tenants, or operating smoothly, our services are meticulously crafted to handle each situation with precision and care. We understand that every property has its own story and challenges, and our team is equipped to provide specialized solutions that cater to these diverse conditions, ensuring that every property is managed effectively and efficiently. 3. Technology-Driven Solutions: At Dwelling Network, we are proud to announce the integration of our resident site, dwellingnetworkliving.com, which offers valuable resources to educate tenants on maintaining their homes effectively, and serves as an additional platform to showcase available rentals. Our longstanding partnership with Buildium has positioned us at the forefront of employing technology to elevate property management practices. The consistent utilization of Buildium’s comprehensive platform guarantees exceptional support for both residents and owners, while simultaneously streamlining backend operations to achieve maximum efficiency. 4. Commitment to Clients At Dwelling Network, our unwavering commitment to our clients is demonstrated through our proactive communication and support. We offer virtual “Rental Success Meetings” that can be scheduled at the owner’s  convenience, ensuring personalized attention and strategic discussions. Our team is dedicated to responding to email inquiries no later than the next business day, reflecting our promise to address every client’s needs with urgency and care. From our Property Management Kickoff Meeting to navigating through the complexities of property management, Dwelling Network is here to ensure that every client’s experience is seamless and successful. 5. Financial Transparency and Compliance: Dwelling Network ensures the utmost compliance with Ohio Real Estate Brokerage requirements and utilizes secure trust accounts for all transactions. Clients receive monthly financial reports alongside their profit distributions, and annual financial reports and 1099 statements to facilitate easy tax preparation. This meticulous financial management reflects our dedication to transparency and client trust, providing peace of mind regarding the financial aspects of property management. Conclusion The right property management is essential for ensuring the protection and growth of your real estate investments and to give you peace of mind from afar. Dwelling Network offers complete services, customer-oriented solutions, and cutting-edge technology that make it a great choice for property owners who want to have confidence and success in their properties. Get started with property management from Dwelling Network today.

Navigating real estate transactions without a realtor can be advantageous for certain individuals. This concise guide highlights the Top 5 Reasons Not to Hire a Realtor, emphasizing the benefits of expertise, resilience, negotiation skills, online resourcefulness, and having ample time. It’s a strategic move for those with the right skills and mindset to manage their property dealings independently. 1. You are a Real Estate Professional If you are a realtor who regularly conducts buying and selling, you should be well-versed in real estate regulations and have access to essential resources. However, if you have a realtor’s license but conduct fewer than 20 transactions per year, you may not be fully prepared to handle complex situations, putting you at risk for costly errors. Real Estate Attorneys, apart from Realtors, are one of the few professionals equipped to read and understand the legal jargon included in any thorough real estate purchase or sale contract and address potential legal issues that may arise during the buying or selling process.  2. You are Resilient Receiving feedback can be challenging, but it’s particularly tough when it’s about personal aspects like home decor or odors that could dissuade buyers. It’s equally disheartening to hear blunt remarks about your offer during negotiations. Such comments can easily unsettle someone who’s sensitive, hindering their progress in buying or selling a property. However, if you’re someone who can shrug off criticism, see the constructive side of feedback, and let negative comments fuel your motivation to enhance your home, you might do just fine without a realtor. For those who find such interactions daunting, a realtor can serve as a shield, filtering out the noise and focusing on the feedback that truly matters for the transaction.  3. You are a Skilled Negotiator The art of real estate lies in negotiating prices and accommodations. It’s crucial to be adept at negotiations when the stakes are high. Knowing when to hold firm, walk away, and which levers to pull in different scenarios can make a difference of thousands of dollars on a home purchase or sale. Mastering this craft not only requires an understanding of market trends and human psychology but also the confidence to make bold moves when necessary, ensuring the best possible outcome for all involved.  4. You’re Self-Sufficient with Online Resources While platforms like Zillow and Realtor.com offer snapshots of recent sales, estimated values, and property images, the Multiple Listing Service (MLS) provides a deeper dive with details such as time on market, special contingencies, historical pricing, inspection reports, and more intimate data. These specifics are typically reserved for licensed realtors. If you’re comfortable making decisions based on the information available online, then bypassing a realtor might work for you.  5. You Have Time and Resources If you’re not pressed for time in your property transaction, you have the luxury of conducting research at your leisure. You can explore neighborhoods, attend open houses, and compare various properties. This process can provide valuable insights into how your home stacks up against others on the market, or what financial commitment is required for your desired home. Though, without an agent, your response time might not be as swift as those with professional representation, and as a seller, opting for ‘For Sale By Owner’ could limit your exposure, potentially narrowing your pool of prospective buyers.”  CONCLUSION: Remember that going solo in the property market is a kin to being your own captain on the high seas. It’s about charting your course, steering through negotiations, and sometimes, riding the waves without a crew. It’s a journey for the brave, the resourceful, and the self-assured. Whether you’re a seasoned sailor or a landlubber taking the plunge, the experience is yours to own. So, weigh anchor, set sail, and may the winds of the market be ever in your favor!  As professionals in the field, this blog is a snapshot of our opinions from Dwelling Network, where we also offer realtor services for selling your home or buying a property. You should always seek professional advice before making real estate decisions. Happy house sailing!

In our ever-evolving world, technology is in every aspect of our lives, especially our homes. Enter the era of smart appliances—refrigerators that order groceries, ovens that preheat remotely, and washing machines that send notifications when the laundry is done. These marvels promise convenience, efficiency, and a touch of futuristic magic. But here’s the twist: they’re failing faster than their older, less intelligent counterparts.  The Rise of Smart Appliances Our large appliances are now smarter and able to do more than ever before. Manufacturers market features like Wi-Fi connectivity, voice control, and predictive algorithms to help you keep up with daily tasks. Imagine adjusting your home thermostat while away on your vacation trip or brewing coffee from bed with a voice command. It’s the stuff of our parent’s sci-fi dreams but today’s reality.  Credit: Photo Mix The Dark Side of Intelligence But there’s a catch. As appliances get smarter, they become more complex. And complexity often leads to vulnerability. Here’s why modern smart appliances are stumbling:  Software Glitches:  Smart appliances rely on software. When that software glitches, your fridge might forget it’s cooling programming or your dishwasher might simply decide not to complete the wash cycle. These hiccups can disrupt daily life.   2. Shorter Lifespans:  Remember Grandma’s sturdy blue refrigerator that lasted decades? That’s not the case with your new, sleek Smart fridge with tablet display. The average lifespan is shrinking. Why? Because software updates can’t fix everything, and new components just wear out faster.  3. Dependency on Connectivity:  Smart appliances thrive on connectivity. Lose Wi-Fi, and suddenly your oven refuses to bake cookies. Older appliances only need power and/or fuel—and they just bake.  4. Planned Obsolescence:  Manufacturers want you to upgrade. Smart appliances are designed with planned obsolescence in mind- which means you CAN’T keep it forever. (And even if you do, your replacement parts won’t necessarily be available).  A recent Wall Street Journal report delved into this paradox. It revealed that while smart appliances dazzle us with their features, they’re also ticking time bombs. Their failure rates are higher, and repairs are costlier.   The Bottom Line So, what’s a homeowner to do? Here are some tips:  Research Reliability: Before buying, check reliability ratings. Don’t be swayed by touchscreens; focus on longevity.   Embrace Simplicity: Sometimes, a good old non-smart appliance gets the job done without fuss. It won’t order groceries, but it won’t crash either.  Invest Wisely: If you do go smart, invest in quality brands. They might cost more upfront, but, hopefully, they’ll save you headaches (and repair bills) down the line.  Think 5 Years Down the Road: If you are planning to move, your Smart appliance may be an appeal to a new homeowner, but does the same appliance make sense for a rental? Be sure to consider a few years down the road if you don’t intend to keep or maintain the appliance for yourself.  In the end, smart appliances are one of many new conveniences that can dazzle and make life more fun, and – lets face it- convenient. But think about the lifespan you want/need for that specific appliance, do your due diligence in selecting, and be ready for an upgrade sooner than later.  Sources:  WBUR, 2. WUSF, 3. NPR Illinois, 4. KLCC,  5. ideastream  Dwelling Network can help provide oversight of your home renovation- including recommending appliances that make sense for your intended future use. Check out some of our renovations here.

Credit: Nick Castele / Signal Cleveland Cleveland, Ohio, a city steeped in history and known for its diverse community, faces significant challenges in its housing market. To address these issues, policymakers have introduced groundbreaking legislation aimed at tackling absentee landlordism and blight within the city’s neighborhoods. In this blog post, we’ll delve into the details of the “Residents First” program, its potential impact on Cleveland’s housing landscape, and the opportunities it presents for creating more sustainable communities with the help of conscientious investors.  The “Residents First” Ordinance (1039-2023)  On Monday, February 5, 2024, the Cleveland City Council passed the “Residents First” ordinance. This legislation aims to elevate the quality of housing in Cleveland by addressing several critical points:  1. Property Registration and Local Agents​ 2. Rental Property Standards Before renting, all rental properties in Cleveland must meet specific criteria:  3. Vacant Property Maintenance  Credit: JamesDeMers 4. Civil Tickets  Credit: succo  Cleveland has stronger legal authority to enforce civil tickets at $200 per infraction for nuisance prevention including but not limited to:  The Vision Mayor Justin Bibb believes the “Residents First” program prioritizes people and neighborhoods. By enforcing stricter regulations, promoting transparency, and holding landlords accountable, Cleveland aims to:  The Urgency For the past six months, a working group led by Cleveland Building and Housing Director Sally Martin O’Toole has collaborated on these proposed code changes. The urgency is evident: Cleveland’s housing quality has declined, affecting both homeowners and tenants. With “Residents First,” Cleveland takes a significant step toward revitalizing its neighborhoods and ensuring a better future for its residents.  The Impact The adoption of the ordinance has had mixed reviews. The Akron Cleveland Association of Realtors (ACAR) opposed the legislation during council hearings, but their official public policy position remains pending. A study comparing Cleveland’s housing conditions from 2015 to 2022 reveals a correlation between the degradation of housing quality and the increase in real estate investment activity. While the legislation aims to discourage absentee landlords who neglect their properties, concerns have been raised about its potential impact on investment capital flowing into the region. Could this result in a shift of investors looking for properties outside of the City of Cleveland and primarily in the suburbs?     In summary, “Residents First” represents Cleveland’s commitment to its residents and neighborhoods, but ongoing dialogue and careful monitoring are essential to strike the right balance between regulation and investment. We’ll be monitoring this issue closely and its impacts on owner-occupied housing, investment trends and potentially new suburban housing laws that follow suit.   View the legislative package here.  Dwelling Network offers Property Management services to help owner’s maintain their investments to the highest standards while remaining profitable.  As needed, we will adapt our processes to ensure owners are compliant with all local ordinances.    Disclaimer: This blog post provides an overview of Cleveland’s “Residents First” program. For specific legal advice or details, consult official city resources.: MPR News : Mercatus Center