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Thursday, April 10, 2008

Realtors reduce ranks

Hancock Federal Credit Union
By LOU WILIN

STAFF WRITER

Add another casualty to the slumping housing market: real estate agents.

After growing to 302 early last year, the number of agents in the Heartland Board of Realtors has declined to 267, an 11.6 percent drop. The Heartland Board is an association of real estate agents in Hancock and parts of neighboring counties.

Most who bowed out were part-timers whose shrinking commissions were overshadowed by the cost of doing business, Heartland Board of Realtors President Ray Frankart said.

It costs about $5,000 per year to be a Realtor, even part time, Frankart said.

Agents pay dues to the Heartland Board, to the state and to their franchise. They pay for advertising, signs, office rental and other expenses. The costs are the same for all with one exception: Full-time agents spend more than part-timers on advertising, Frankart said.

In the housing market's traditionally hot season of summer, things were cooler last year. In June and July 2007, home sales in Findlay were down 13.5 percent from the same months in 2006, according to records at the Hancock County auditor's office. A total of 212 homes with a Findlay address were sold in those months last year.

However, home prices continued to rise last summer: The median selling price in June and July among Findlay area homes increased about 16 percent, to $144,950, from a year earlier, according to records at the auditor's office.

Prices now appear to be declining. The average selling price of a home in the first quarter was $127,303, down 2.6 percent from the same period in 2007.

It has become a buyer's market, said Connie Cotton, owner/broker of Cotton Premier Realty.

Typically, a home for sale is getting a bid from only one looker at a time, whereas years ago bids often came from multiple sources, she said.

Sensing the climate, buyers are getting pickier, demanding that more flaws be fixed, Cotton said.

"It's hard on sellers," she said.

To ease the burden and help the market, Cotton has been offering help even to those who are not her clients. She invites those selling their homes without help of a Realtor to list them on her agency's Web site.

Cotton said she wants to help sellers and the economy by getting the properties seen by those who frequent her agency's Web site.

"We are essentially trying to help with getting this economy moving," she said.

Contact staff writer Lou Wilin at:

419-427-8413

Send an e-mail to Lou Wilin

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Series of garage break-ins reported
Break-ins have been reported in seven garages in an area just south of downtown this week, according to Findlay police.

Residents on Washington Avenue, First Street, Maple Avenue, and Lima Street reported missing power tools and other equipment. The break-ins were reported to police Tuesday.

Among the missing items was a $500 Dewalt tool kit, stolen from a Lima Street garage.

There are no suspects in the streak of burglaries, according to police. However, according to the report, residents in the area reported seeing young people using lawn furniture to barricade alleys in the area Monday night.


Ottawa 'tea party'
OTTAWA -- Pastor Larry Bibler will sponsor a "tea party" rally at 1 p.m. Saturday on the steps of the Putnam County Courthouse in Ottawa.

Bibler intends the rally to celebrate freedom and protest taxes.


Ballinger joins Gillmor board
Jon C. Ballinger of Findlay has been named to the board of directors of Gillmor Financial Services, the holding company for Old Fort Banking Co.

Ballinger is president of three family-owned businesses -- Balmex, Werk-Brau and Fabco.

Ballinger in 2002 developed Balmex, which manufactures attachments and medium to heavy fabrications for the construction industry.

He began his career as a teenager in the family business, Werk-Brau Co., established in 1947 by his grandfather and uncle in Findlay. Werk-Brau manufactures construction equipment attachments.

In 1976, Ballinger's father, Paul, established Fabco Inc., which manufactures excavator buckets and backhoe digging teeth.

"Jon Ballinger, president of three family-owned businesses, was the perfect candidate for the (Gillmor) board," said Old Fort Bank Chief Executive Officer Michael Spragg.

Ballinger is a graduate of Ohio Northern University with a bachelor's degree in mechanical engineering.


Fostoria Writers Group to meet
FOSTORIA -- The Fostoria Writers Group will meet at 11 a.m. the second and fourth Tuesday each month at Kaubisch Memorial Public Library in Fostoria.