By Carl Horst

Real estate professionals have a keen understanding of where things stand economically. REALTORS are often sitting at the kitchen table with would-be buyers and sellers as they grapple with the financial and emotional issues surrounding what is often the largest and most cherished investment made in a lifetime — owning a home.

That’s why so many economists look at housing as one of the key barometers of our overall economic well being. The sector is a reliable indicator of what has occurred, what is currently happening and what may be taking place in the coming months. In short, if buyers and sellers aren’t sold on the state of the economy…Ohio’s REALTORS are among the first in the know.

This is why our Research Department developed the OAR Housing Market Confidence Index in mid-2011; so that we would be able to gauge the profession’s perception of the current and long-term real estate marketplace.

For the past 15 months we’ve been surveying our membership on three key questions:

• How would you describe the current housing market in your area?
• What are your expectations for the market over the next 6 months?
• What do you think will occur with home prices over the course of the next year?

Our initial results showed that the industry — which was, at the time, only three years removed from when the economy had cratered — was tepid in it’s assessment of the state of Ohio’s housing market. Today, the outlook can be categorized as cautiously optimistic. Consider:

To create the Index scores for the Current and 6-Month Market questions, responses are assigned points of 0 (weak), 50 (moderate) and 100 (strong). The home price Index is assigned the following points: 100 (for rise +5%), 75 points (rise 0-5%), 50 points (for level), 25 points (fall 0-5%), and 0 points (fall +5%).

There’s been a notable jump in the profession’s outlook in a relatively short period and it’s undoubtedly due in large measure to the improving conditions in the Ohio home sale market, which has posted 12 straight monthly sales gains and seen the average price tick upward.

But it’s also worth pointing out that REALTORS aren’t getting too far out over the skis during this recent run of positive news. The housing sector took a big hit during the economic collapse of 2008 — and we’ve made significant strides in the effort to achieve a growing, sustainable marketplace moving forward. The current Confidence Index scores are an indication that the industry knows there’s room for improvement…that challenges and setback will likely surface…but it at least seems like we’re headed in the right direction.

By Greg Stitz, OAR Research Director

Ohio’s REALTORS have increasingly positive expectations for the state’s housing market for the next six months.

The Ohio REALTOR Market Confidence Index, compiled from a random sampling of OAR members, shows steady improvement in the profession’s long-term outlook. To create this index, respondents answered the question: What are your expectations for the housing market over the next six months in your area?

Responses are assigned weights of 0, 50 or 100. A response of “strong” gets 100 points, while “moderate” receives 50 points and “weak” is assigned 0 points.

We initially began tracking the confidence index during the third quarter 2011 and realized an average index score of 28 on the long-term outlook question. As depicted, we’ve seen an significant uptick in subsequent quarters — most recently attaining a mark of 56 during the second quarter 2012.

As home sales and average prices have steadily increased over the course of the past year, the profession has become more bullish about the residential marketplace in Ohio moving forward.

If you’re interested in participating in OAR’s monthly survey, simply click here.

By Carl Horst

Throughout Ohio the inventory of homes for sale are at all-time lows, median list prices are on the rise and the number of days properties are on market  is declining…three key indicators of the state’s continuing housing recovery.

According REALTOR.com’s July 2012 Housing Report, which tracks inventory of for-sale single-family homes and condos, median list prices and days on the market for 146 cities across the country:

Low inventories, combined with rising list prices and lower times on market, are positive signs that the overall market is in a stabilization mode.

Nationally, the inventory of homes listed has dropped by 19.26 percent, the median list price has increased 2.63 percent and the median age of inventory fell 9.27 percent on a year-over-year basis (July 2012 vs. July 2011).

The news is equally positive for the six Ohio markets tracked by REALTOR.com. Here’s a percentage breakdown of how the areas fared in July 2012 (compared to the month a year ago):

“The Ohio housing market is continuing to make significant strides in its recovery effort from the economic downturn of 2008,” notes OAR President Bob Miller. “These recent findings are a real positive and a signal that the marketplace is not only stabilizing, but poised for sustainable growth moving forward.”

The OAR Annual Convention & Expo — Oct. 2-4 — offers you top-notch educational sessions, insights to the latest industry trends, memorable entertainment and unlimited access to Ohio’s premier shopping and dining locale!

Visit our Convention website to see all of the fun and excitement that awaits during the three-day event at the Easton Town Center in Columbus — from the opportunity to earn up to 12 hours of CE credit from the country’s leading speakers, to Ohio’s trendiest shopping and dining just steps away, to industry insights that will give you a competitive advantage!

By Marilou Butcher Roth

This month I am having several of my clients focus on extreme self care. Hmm, what is extreme self care you might ask? Well, think of the things you do on a regular basis for yourself and then raise that level at least 25 percent. This wonderful world of real estate can be taxing on our bodies and minds and it is up to us to create our own healthier minds and bodies, because no one will be doing this for us!

There is no right or wrong with self care, I find the biggest key is giving yourself permission to really take care of yourself which comes in many forms. It could be taking a few minutes in the morning to read or it might be declining an invitation to spend time with people that consider complaining to be a hobby!

Many of us grew up with the idea that taking care of yourself was considered “selfish,” and everyone else’s needs should come first. If you are carrying around that old belief, then self care in general can be dicey for you. When you find that dilemma present itself, be gentle with yourself. Beliefs do not change overnight and I invite you to consider the metaphor of you being a savings account. If you are not making regular deposits, then you will have very little or nothing to give to others. It’s just like the oxygen mask on the airplanes — making sure you start with yourself and then help others.

This week, visit the idea of really taking care of yourself in ways that you usually do not and notice how your energy increases!

Marilou Butcher Roth is owner of The MBR Group, a national coaching and training company working primarily with REALTORS who have a desire to work and live from a more inspired place. She is also the Broker/Owner of Group REALTORS in Cincinnati and serves as vice chair of the OAR Communications Committee. You can contact Marilou at Marilou@mbr-group.com.