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Tag: home selling

  • When Selling a House, Who Pays for What?

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    Key Takeaways

    • What sellers pay for: Sellers usually cover real estate agent commissions (typically 3%-6% of the sale price), owner’s title insurance (around 0.5%-1% of the home’s price), and various closing costs that generally range between 2%-5%. These figures represent national averages — actual costs can vary significantly depending on location and property value.
    • What buyers pay for: Buyers typically pay for home appraisals (averaging $300–$700), loan-related fees (about 2%-5% of the total loan amount), and home inspections (usually $350-$750).
    • Regional differences and negotiation: Costs vary by region and can often be negotiated between the buyer and seller.

    When selling a house, who pays for what?

    Buying or selling a home involves more than agreeing on a price. From loan fees and title insurance to inspections and commissions, both parties share the financial responsibility for getting to the closing table. The exact breakdown depends on regional customs, lender rules, and how each side negotiates.

    Although some costs can be negotiated, many follow long-standing norms. Understanding who typically pays for what helps you estimate your true costs and avoid last-minute surprises.

    Fact: According to the National Association of Realtors (NAR), the average seller spends about 8-10% of their home’s sale price on commissions and related fees, while buyers usually pay 2-5% in their own closing costs.

    Who pays what in a real estate transaction

    Here’s a straightforward look at who typically pays for each major cost — and which expenses are open to negotiation. While some fees are standard practice, others can shift based on local customs or the strength of your negotiation.

     

    Expense Type Paid by Seller Paid by Buyer Negotiable
    Real estate agent commissions ✅
    Appraisal fee ✅
    Home inspection ✅
    Escrow fees ✅
    Owner’s title insurance ✅
    Lender’s title insurance ✅
    Recording and transfer taxes ✅
    Home warranty ✅
    Land survey ✅
    Property taxes (prorated) ✅ ✅
    Repairs or concessions ✅

    Bottom line: Knowing these costs early helps both parties budget confidently and avoid last-minute stress. With clear expectations, closing day becomes much smoother for everyone.

    What fees do sellers pay when selling a house?

    Now that you know how costs are generally divided, let’s look closely at what sellers typically cover.

    In most cases, sellers shoulder the heavier financial load because they’re cashing out on the property. Common seller costs include:

    • Real estate agent commissions: Typically 3-6% of the sale price, split between the listing and buyer’s agents.
    • Title insurance for the buyer: Protects the new homeowner from ownership disputes.
    • Transfer taxes: Usually paid by sellers and calculated as a small percentage of the sale price.
    • Escrow fees: Shared or fully covered by the seller, depending on local custom.
    • Repairs and concessions: Sellers often pay for repairs negotiated after inspection.
    • Outstanding bills and HOA dues: Prorated through the closing date.

    Pro tip: Ask your Redfin agent for a net sheet early in the process to estimate your take-home proceeds.

    Who pays escrow fees?

    Escrow companies act as neutral third parties holding funds and documents until the deal closes. Fees vary by state: In California, buyers and sellers usually split escrow fees, while in Washington, the buyer may pay them in full.

    Typical escrow fees range between 1-2% of the home price. In slower markets, sellers sometimes cover this cost to make their listing more attractive.

    Who pays for the home inspection?

    The buyer usually pays for the home inspection as part of their due diligence. According to Rocket Mortgage, the average inspection costs $300-$500.

    Some sellers order a pre-listing inspection to identify potential issues early — a proactive move that can prevent surprises during negotiations.

    Who pays for the appraisal?

    Lenders require an appraisal to confirm the home’s market value before finalizing the loan. The buyer pays for the appraisal, typically between $400-$700.

    However, in competitive markets, sellers sometimes agree to cover this cost as part of a negotiated offer.

    Who pays for title insurance?

    Two policies exist:

    • Owner’s title insurance: Paid by the seller for the buyer’s protection.
    • Lender’s title insurance: Paid by the buyer to protect the lender’s interest.

    Regional customs determine who pays for which policy. In some areas, sellers cover both; in others, the costs are shared.

    Who pays for a land survey?

    A buyer usually pays for the land survey to confirm boundary lines. Costs range between $300 and $1,000, depending on lot size and location. Sellers occasionally commission a survey beforehand to address boundary concerns early.

    Who pays real estate transfer taxes?

    Transfer taxes (also called conveyance taxes) are typically seller-paid. These vary widely — from 0.1% to 2% of the sale price — depending on local laws.

    Check your state’s requirements through Redfin’s home-selling cost guide.

    Who pays for a home warranty?

    Either party can pay for a home warranty, which typically costs $400-$700 per year. Sellers often include one to attract buyers and reduce post-sale disputes over appliances or systems.

    Why would a seller pay closing costs?

    Sellers sometimes pay part of the buyer’s closing costs — called seller concessions — to make the deal more appealing. This strategy works well in a buyer’s market or when a property has been listed for a while.

    Covering costs like loan origination fees or prepaid taxes can help close deals faster, though it reduces the seller’s net proceeds.

    Expanded breakdown: Who pays for what when selling a house

    Closing Cost Typical Payer Negotiable? Details
    Loan origination fee (0–1% of loan amount) Buyer ❌ Charged by the lender for processing the loan.
    Realtor commissions (5–6%) Seller ✅ Standard in most U.S. sales; rarely buyer-paid.
    Processing fee ($300–$900) Buyer ❌ Paid to the lender for document preparation.
    Underwriting fee ($300–$750) Buyer ❌ Covers the cost of evaluating loan risk.
    Application fee ($200–$500+) Buyer ❌ Charged by the lender to process your mortgage request.
    Credit report fee ($35) Buyer ❌ Covers the cost of pulling a credit report.
    Home appraisal fee ($500–$1,000+) Buyer ✅ Sometimes covered by the seller to sweeten an offer.
    Home inspection fee ($300–$500) Buyer ✅ Buyers usually pay; sellers may provide a pre-inspection.
    Title search & title report ($300–$2,500+) Split ✅ Confirms clear title; cost division depends on region.
    Lender’s title insurance ($300–$1,500+) Buyer ❌ Protects the lender’s interest.
    Owner’s title insurance (optional) Seller ✅ Protects the buyer; often seller-paid.
    Escrow fee ($350–$1,000+) Split ✅ Shared between buyer and seller in most states.
    Recording fee ($20–$250) Buyer ❌ Covers local recording of the deed and mortgage.
    Prepaid taxes and insurance ($1,000–$4,500+) Buyer ❌ Required upfront for lender escrow accounts.
    Prepaid interest (varies) Buyer ❌ Covers interest from closing to the first mortgage payment.
    Mortgage or discount points (0–1% of loan) Buyer ✅ Optional: reduces the loan interest rate.
    Private mortgage insurance (PMI) Buyer ❌ Required with less than 20% down on conventional loans.
    Real estate attorney fee ($400+) Buyer ✅ Required in some states; can be shared by agreement.
    HOA fees (varies) Buyer ✅ Often prepaid; terms depend on the HOA rules.
    HOA transfer fee (varies) Seller ✅ Paid to update association ownership records.
    Survey fee ($400+) Buyer ✅ Confirms property boundaries; may be required by the lender.
    Flood certification ($20) Buyer ❌ Determines if flood insurance is required.
    Notary fee ($100) Buyer ❌ Pays for notarizing closing documents.
    Closing protection letter (CPL) fee ($50) Buyer ❌ Provides legal protection in escrow transactions.
    Document prep fee ($50) Buyer ❌ Covers the preparation of final loan paperwork.

    FAQs: Who pays for what during a house sale?

    1. Can buyers negotiate for sellers to cover closing costs?
       Yes. In a buyer’s market, sellers often offer concessions to help with upfront expenses.
    2. Can a seller refuse to pay certain fees?
      Yes, though most standard costs like commissions and title insurance are difficult to avoid.
    3. Are seller costs tax-deductible?
       Some expenses — such as agent commissions and home improvements made before selling — may reduce taxable gains. Check with a qualified tax professional for details.

    Take the next step toward selling your home

    Understanding who pays for what when selling a house can help you plan and avoid closing-day surprises. While sellers generally cover commissions, title fees, and transfer taxes, buyers handle inspections, appraisals, and loan costs. Local customs and negotiation will ultimately shape your specific breakdown.

    Ready to take the next step? Connect with a Redfin agent near you to get a personalized estimate of your selling costs and discover how to maximize your net proceeds.

     

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    Jasica Usman

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  • How to Sell a Teardown House: Complete Seller’s Guide

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    Key Takeaways:

    • Teardown houses are often worth more for their land than their structures.
    • Pricing should reflect location, lot size, and redevelopment potential.
    • Selling as-is saves money on unnecessary repairs.
    • Zoning, demolition costs, and permits affect value and buyer demand.

    What is a teardown house?

    A teardown house is a property where the land value outweighs the structure. These homes are often outdated, damaged, or too costly to renovate. Buyers — usually investors, builders, or developers- purchase teardown homes to demolish and rebuild.

    The National Association of Home Builders reports that teardowns accounted for nearly 7% of all single-family housing starts in 2022. This shows strong demand for redevelopment opportunities in competitive markets.

    Step 1: Determine if your house qualifies as a teardown

    Before deciding how to sell, it’s important to know if your home truly qualifies as a teardown. Homes with outdated layouts, severe structural issues, or land in high-demand neighborhoods often fall into this category.

    Not every fixer-upper is a teardown. Common indicators include:

    • Renovation costs exceed the home’s potential resale value.
    • The structure has major issues (foundation, roof, plumbing, electrical).
    • The land is in a high-demand neighborhood with limited new construction.
    • Local zoning allows for larger or multi-unit builds.

    If your property matches these factors, it may be worth more as land than as a traditional home sale.

    Step 2: Estimate the true value of your property

    Understanding how much your teardown is worth is critical to attracting the right buyers. Since the land often matters more than the structure, sellers should evaluate lot size, location, and local zoning rules.

    Unlike standard homes, teardown value comes from:

    • Location: Demand in the neighborhood.
    • Lot size and shape: Buildable footprint matters.
    • Zoning laws: What type of structures can be built.
    • Demolition costs: Removing an old home can cost $5-$15 per square foot. For a deeper breakdown of expenses, check out Redfin’s guide to the cost of demolishing a house.
    • Permits and fees: Local regulations may add thousands in costs.

    Working with a real estate agent experienced in land sales ensures you price competitively and avoid underestimating your lot’s potential.

    Step 3: Understand zoning and permitting

    Zoning rules can make or break a teardown sale. Buyers need to know what can be built on the property before making an offer, so it’s essential to understand the restrictions that apply to your lot.

    Zoning and building restrictions significantly affect a teardown’s value. Consider:

    • Setbacks, height limits, and floor area ratio (FAR).
    • Multi-family zoning can attract developers.
    • Environmental or historical protections that may limit demolition.

    A knowledgeable agent or land-use consultant can help clarify local rules and market your property correctly.

    Step 4: Decide whether to sell as-is or prepare the property

    Deciding between selling as-is or making small improvements depends on your goals. Many teardown sellers choose to sell as-is to save money, though a simple cleanup may help your lot show better.

    Most sellers benefit from selling teardown homes as-is, since buyers plan to demolish. Major repairs won’t increase value. However, light cleanup can help:

    • Remove debris and unsafe hazards.
    • Mow the lawn and trim overgrown vegetation.
    • Provide basic access for walk-throughs.

    This small effort can make the lot more appealing without unnecessary investment. Learn more about what “as-is” really means in Redfin’s guide to buying a house as-is.

    Step 5: Market to the right buyers

    Marketing is about finding the right audience. With teardowns, that means focusing on professionals like builders, investors, and developers rather than everyday buyers.

    Traditional homebuyers usually avoid teardowns. Instead, target:

    • Investors: Looking for land to redevelop.
    • Builders: Seeking lots for custom or spec homes.
    • Developers: Interested in multi-unit or mixed-use potential.

    Highlight the lot size, location, zoning allowances, and redevelopment opportunities in your listing. Consider including cost estimates for demolition to make the process more transparent for buyers.

    Step 6: Consider selling directly to an investor

    For sellers who prioritize speed and simplicity, selling directly to an investor can be the most convenient path. These buyers often make cash offers and close quickly.

    If speed matters more than top dollar, selling directly to an investor may be the right choice. Benefits include:

    • Faster closing timelines.
    • Cash offers without financing delays.
    • No need for repairs or inspections.

    While you may accept a slightly lower offer, the convenience can outweigh the difference in sale price.

    Step 7: Work with a teardown-experienced real estate agent

    The right agent can make all the difference in selling a teardown home. They’ll know how to reach the right buyers and how to navigate zoning and land valuation challenges.

    An agent familiar with teardown properties can:

    • Connect you with investor and builder networks.
    • Advise on pricing and buyer negotiation.
    • Navigate zoning laws and permit considerations.
    • Craft compelling listings that emphasize land value.

    This expertise helps sellers achieve faster sales and stronger returns.

    Example scenario

    For example, imagine a homeowner with a mid-century rambler on a 7,500-square-foot lot. Renovating might require over $200,000 in updates, but selling to a builder as a teardown could bring in a competitive offer based on land value. The builder then demolishes the structure, constructs a larger modern home, and resells it for a higher price. In this scenario, the seller avoids costly renovations while maximizing the lot’s potential.

    Frequently asked questions

    1. Should I renovate before selling a teardown?
       No. Since buyers plan to demolish, renovations usually won’t boost your return.
    2. Who buys teardown homes?
       Investors, builders, and developers are looking for land to rebuild.
    3. What are the costs involved in selling a teardown?
       While sellers avoid renovation costs, buyers factor in demolition ($5–$15 per square foot) and permitting fees, which affect offers. For more details, see Redfin’s cost to demolish a house guide.
    4. How do I know if my home is better sold as a teardown or fixer-upper?
       If renovation costs exceed resale potential or if land demand is higher than structure value, a teardown sale is usually better.
    5. Can I sell a teardown house to a regular homebuyer?
       It’s possible, but rare. Most buyers are professionals seeking redevelopment potential.

    Next steps to sell your teardown house successfully

    Selling a teardown house requires a different strategy than a traditional home sale. By focusing on land value, understanding zoning laws, and targeting investors or builders, you can streamline the process and maximize your return. Partnering with an experienced real estate agent ensures you attract the right buyers and avoid costly mistakes.

    For related insights, explore Redfin’s cost to demolish a house guide and Redfin’s guide to buying a house as-is.

     

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    Jasica Usman

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  • Assessed Value vs. Market Value Explained: What is My Home Actually Worth?

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    When you own or are buying a home, you’ll encounter assessed value and market value. While they both measure what your home is worth, they’re used for very different purposes. 

    Assessed value: The value your local government assigns to your home for tax purposes.

    Market value: The price a buyer would realistically pay for your home in the current real estate market.

    This Redfin real estate article dives deeper into the differences between assessed value vs. market value, helping you understand how each is determined, why they matter, and how they impact your finances.

    What is assessed value?

    The assessed value, also known as tax-assessed value, is the official value your local government assigns to your property for tax purposes. It’s not what you could sell your home for today – it’s a value used primarily to calculate your property tax bill.

    County or municipal tax assessors calculate this value using a combination of property details and market data. Factors often include:

    • Lot size and square footage
    • Home type (single-family, condo, multi-family, etc.)
    • Age and condition of the home
    • Location and neighborhood desirability
    • Recent renovations or improvements
    • Comparable home sales in the area

    Most jurisdictions apply an assessment ratio (a percentage of the home’s market value) to determine the assessed value. For example, if your home’s market value is $250,000 and your county uses a 60% ratio, your assessed value would be $150,000.

    This number is used to calculate your property tax bill. Your tax rate, often called a mill rate or levy rate, is then applied to the assessed value. Because assessments are tied to taxes – not necessarily the real estate market – assessed value is often significantly lower than market value.

    Example: If your assessed value is $150,000 and your county’s tax rate is 1.2%, your annual property tax bill would be $1,800.

    What is market value?

    The current market value of a home is the price it would sell for in today’s real estate market. Unlike assessed value, this figure is shaped by what buyers are willing to pay rather than a tax assessment.

    Market value is shaped by several key factors:

    • Comparable sales (“comps“): Recent sales of similar homes in your neighborhood.
    • Housing demand: Competition among buyers and the number of homes available.
    • Property features: Size, layout, upgrades, curb appeal, and amenities.
    • Economic conditions: Mortgage interest rates, inflation, and employment trends.
    • Timing: Seasonal market shifts or broader economic cycles.

    Real estate agents, appraisers, and buyers use market value to guide pricing and negotiations. Because it captures what buyers are willing to pay, your home’s current market value may differ widely from its tax-assessed value.

    Key differences between assessed value vs. market value

    Assessed Value Market Value
    Used by local governments to calculate property taxes Reflects the price a property would likely sell for in the current market
    Determined by local tax assessors Determined by market conditions, agents, and appraisers
    Typically reassessed every 1-5 years Fluctuates constantly based on real estate market conditions
    Calculated using a percentage (assessment ratio) of the market value Based on comparable home sales and buyer demand
    Affects property taxes Affects home sale price, refinancing, and home equity

    Why the difference between market value and tax-assessed value matters

    Whether you’re paying property taxes, selling your home, refinancing, or appealing an assessment, each situation depends on a different value.

    For sellers: Market value determines your sale price

    • Buyers and real estate agents ignore assessed value when making offers.
    • Your home’s selling price depends on market value, based on recent sales of similar homes.

    For homeowners: Property taxes are based on assessed value

    • Your assessed value determines your property taxes, not your home’s market value.
    • Even if home prices in your area rise, your property taxes won’t increase immediately because assessed values are updated periodically and are typically lower than market value.

    For refinancing or taking out a HELOC: Market value matters

    • Lenders base refinance terms and home equity loans on market value, not assessed value.
    • A higher market value means more home equity, which can help you qualify for better loan options.

    For appealing property taxes: Focus on assessed value

    • If your property tax bill seems too high, you can challenge the assessed value.
    • Providing evidence that similar homes are assessed for less, or that your assessment is outdated, could lower your property taxes.

    FAQs

    How can I determine the current market value of my home?

    There are several ways to estimate what your home could sell for in today’s market:

    • Online home valuation tools: The Redfin Estimate provides a free and instant estimate of how much your home is worth based on various data points, such as market conditions, your home’s features, location, etc.
    • Comparable market analysis (CMA): A real estate agent can create a report comparing your home to similar recently sold properties to estimate a realistic selling price.
    • Home appraisal: A licensed appraiser conducts a detailed evaluation of your home’s condition, features, and comparable sales, providing an official value often required for mortgages or refinancing.

    Using one or more of these methods gives you a clear picture of your home’s current market value and helps guide decisions about selling, refinancing, or leveraging home equity.

    What is appraisal value, and how is it different from market value?

    An appraisal value is determined by a licensed appraiser, often during the mortgage process. While market value reflects what buyers are willing to pay in the current market, an appraisal provides a professional opinion of value based on the home’s condition, location, and comparable sales. Lenders rely on appraisal value to ensure they’re not financing more than a home is worth.

    Why is my tax assessed value lower than my home’s market value?

    Local governments often set assessed values below full market value to stabilize tax bills and avoid sharp annual increases. This benefits homeowners by keeping property taxes more predictable, even when home prices rise quickly.

    Can you appeal your assessed value?

    Yes. Homeowners can challenge their property’s assessed value if they believe it’s too high. This typically involves filing an appeal with your local assessor’s office and providing evidence, such as recent sales of comparable homes or proof of inaccuracies in the assessment. A successful appeal could lower your property tax bill.

    Do improvements to my home affect assessed value or market value?

    Major improvements like renovations or additions can increase both assessed and market value, but assessed value may take time to reflect changes, depending on your local reassessment schedule.

    Can market value change even if the assessed value doesn’t?

    Yes. Market value fluctuates constantly due to supply, demand, and economic conditions. Assessed value is updated periodically, so it may lag behind market trends.

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    Mekaila Oaks

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  • Norfolk Southern balks at compensating homeowners in East Palestine | CNN Business

    Norfolk Southern balks at compensating homeowners in East Palestine | CNN Business

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    Washington, DC
    CNN
     — 

    Jim Stewart was getting ready to sell his home in East Palestine, Ohio, and retire. Then came the derailment of a Norfolk Southern train on February 3, releasing toxic chemicals into the air and nearby water, and he fears crashing the value of his home.

    He and his wife hoped to put their three-bedroom home on the market this spring, as prices were still high and inventory was low. Alternatively, they talked about his son’s family buying a house that was on the market down the street from Stewart.

    But even though state officials are saying the water is safe to drink, convincing potential homebuyers otherwise is an uphill battle.

    “Since the derailment, I lost all those options,” he said. “Who is going to buy contaminated land? The older people are willing to stay and live it out. The younger bunch, they are smarter. They’re thinking of their families. I wouldn’t want my grandchildren here. We don’t know if the ground is going to be good enough to grow grass. There are too many unknowns.”

    Stewart, 65, recently voiced his fury and sadness about what he lost to Norfolk Southern CEO Alan Shaw on a February 22 Town Hall about the derailment on CNN.

    “You burned me,” he told Shaw. “We were going to sell our house. Our value went phoom,” pointing his hands down.

    Shaw was asked point blank by another resident if Norfolk Southern was ready to buy Stewart’s house, he replied only, “we’re going to do what’s right for this community.” That wasn’t satisfactory for Stewart or many of the other participants at the Town Hall.

    “I lost everything now,” Stewart says he told Shaw.

    Stewart works as a manager at a commercial baking company.

    “I worked hard. I’m still working,” he says he told Shaw. “I’m in the 44th year at my job. I wanted to get out. Now I’m just stuck.”

    Stewart fears he lost a tremendous amount of the value of his home, which he bought in 2016 for $85,000.

    The property was worth about $135,000 a month ago, according to an estimate from Zillow. Lack of transactions since then make a current estimate difficult.

    “I’ll never get that. I’ll be lucky to get what I paid for it, if that,” he said of the estimate. In addition, Stewart believes it would cost a lot to do the repairs and tests to ensure the home is safe.

    “At whose expense? That’s the biggest issue right now,” said Stewart. “At whose expense are we going to do things to make sure it’s okay?”

    Stewart isn’t the only one that was angry with Shaw and Norfolk Southern for the railroad’s refusal to offer to compensate the community for the property value that has been destroyed by the derailment.

    At Thursday’s Senate hearing on the crash, Sen. Ed Markey, a Massachusetts Democrat, asked Shaw four different times to commit to compensating homeowners, only to hear Shaw repeatedly reply, “Senator, I’m committed to do what’s right.”

    Markey said that wasn’t an acceptable answer.

    “Will you commit to insuring that these families, these innocent families do no lose their life savings in their homes and small businesses? The right thing to do is to say, ‘Yes we will.’” Markey told Shaw. “These families want to know long term are they just going to be left behind. Once the cameras move on, once the national attention dies down, where will these families be? I think they’re going to be in the crosshairs of the accountants of Norfolk Southern saying ‘We’re not going to pay full compensation.’”

    Paying the homeowners and businesses wouldn’t necessarily be difficult for Norfolk Southern.

    With a population of about 5,000 people, there are roughly 2,600 residential properties in East Palestine according to Attom, a property data provider. The average value of a property there in January of this year, prior to the derailment, was $146,000, according to Attom.

    Taken together, the value of all residential real estate in the town adds up to about $380 million, including single family homes and multi-family properties.

    Those values are only a fraction of the money that Norfolk Southern earns. Last year it reported a record operating income of $4.8 billion, and a net income of $3.3 billion, up about 9% from a year earlier. It had $456 million in cash on hand on its books as of December 31.

    It’s been returning much of that profit to shareholders, repurchasing $3.1 billion in shares last year and spending $1.2 billion on dividends. And it announced a 9% increase in dividends just days before the accident.

    A year ago its board approved a $10 billion share repurchase plan, and it had the authority to buy $7.5 billion of that remaining on the plan as of December 31.

    Asked by Sen. Jeff Merkley, an Oregon Democrat, at Thursday’s hearing, “Will you pledge to no more stock buybacks until a raft of safety measures have been completed to reduce the risk of derailments and crashes in the future,” Shaw again dodged the question by answering only with, “I will commit to continuing to invest in safety.”

    And the company also invests a great deal of money in lobbying, spending $1.8 billion on lobbying in 2022, according to OpenSecrets.org, which tracks lobbying and political contributions expenditures.

    Those lobbying expenses also came under attack by senators at the hearing, especially since Shaw would not commit to supporting the bipartisan bill introduced in the Senate since the derailment to improve railroad safety. Asked if he would support or oppose the legislation, Shaw wouldn’t endorse all of the provisions of the bill, but he responded “we are committed to the legislative intent to make rail safer.”

    A big payout probably isn’t what many in East Palestine are looking for, said Jim Warren, manager and co-owner of Kelly Warren and Associates Real Estate Solutions, in Boardman, which is about 15 miles away from East Palestine. They just want a home that’s safe to live in and to be made whole on its value, he said.

    “The people around here don’t want a lot,” he said. “We don’t chase the flashy items like other places in the world. We want to grow up, raise our kids, make a living, and have a nice place to live, that’s all we want.”

    This area, like the rest of the country, saw the real estate market heat up over the past few years with multiple offers on homes and properties selling over the asking price. But, Warren said, unlike other parts of the country the market stays fairly steady in this part of Ohio.

    “Our area doesn’t move up as much and it doesn’t move down as much,” he said. “We don’t have the big swings.”

    Warren’s firm currently has two listings in the town.

    “That’s no more nor less than usual,” he said. There are only ever about ten properties on the market there, he said.

    But, he added, “if your property is contaminated, that is a concern for yourself and for any buyer.”

    As with any real estate purchase, an appraisal and tests for safety would need to be done for homes in East Palestine. But like Stewart, Warren said it is not yet clear who will pay for the additional tests on water and ground contamination for that peace of mind.

    “For all we know, the county might cover it, or the EPA or Ohio state government. That remains to be seen,” he said.

    Overall, Warren said, he expects homes to continue to be bought and sold in East Palestine.

    “We don’t foresee the market tanking, we foresee steady growth,” he said. “After all the hype is gone, we are still living here. We’re going to have to figure it out because this is our home.”

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