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Cleveland Oh Luxury Homes - Market Report First Quarter 2011

Cleveland Oh Luxury Homes - Market Report First Quarter 2011

 

 

Cleveland Ohio Luxury homes marketing report

 

The following is our first quarter market report for Cleveland Ohio luxury homes, specifically the east side suburbs including: Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Hunting Valley, Moreland Hills, Orange, Pepper Pike, Shaker Heights, and Solon.  In this report, we will first list all luxury home sales during the first three months of this year, make a comparison between the first quarter this year to the first quarter of 2010, and finally give our commentary. A luxury home in the Cleveland Ohio market is considered any home that sells for $500,000 or greater.

 

ALL LUXURY HOME SALES IN CLEVELAND OH ( EAST SIDE ) FIRST QUARTER 2011

 

3140 Courtland Blvd $500,000
75 Willow Wood Ln $515,000
2513 Fairwood Court $515,000
18501 South Park Blvd $525,000
2800 Attleboro $525,000
6452 Dorset Ln $525,000
4820 Glengary $537,500
3175 Montgomery Rd $550,000
110 Hunting Trl $550,000
6754 Winston Ln $575,000
3225 Crabtree Ln $620,000
25 Grey Fox Run $640,000
2289 Stillman Rd $700,000
37282 Tidewater Dr  $700,000
6040 Deer Run Dr $705,000
38267 Flanders Dr $715,000
3400 Old Brainard Rd $900,000
29227 Shaker Blvd $920,000
24875 Woodside Ln $1,100,000
2925 Som Center Rd $1,511,000

 

All Sales                          # of homes sold         Ave. Sales Price 

First Quarter 2011              20                         $691,425

First Quarter 2010              26                         $708,673

 

Source: NEOHREX

SUMMARY

While both sales and average sales price of luxury homes here in Cleveland were lower during the first quarter of this year, we are seeing some signs of optimism. There are currently 31 pending transactions, several over $2,000,000. These should transfer within the next 60 days and really make a difference in the overall numbers.

Recently, there have been many published reports regarding the attitude of luxury consumers. Overall, there is a feeling that they are feeling more comfortable now making large purchases compared to a year ago. The reason is mostly the recent gains in the stock market, decrease in unemployment, and a general better outlook for the economy. Here is Cleveland, we saw a 50% increase in luxury car sales during the first quarter of this year, so perhaps the luxury home sector will also see gains as we move forward.

There is still a rather large inventory of luxury homes available. This means that luxury home sellers must price their homes aggressively if they want to sell. From a buyers perspective, it has never been a better time to buy.

 

Below are other articles of interest pertaining to Cleveland Ohio luxury homes:

The Importance Of Hiring A Luxury Home Agent

What Makes A Home "Luxury"

Local Agent Receives Luxury Home Designation

 

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About The Authors:

Dan and Amy Schuman specialize in Cleveland Oh Luxury Homes and both have designations pertaining to their expertise in selling luxury homes. Dan is an Accredited Luxury Home Specialist and Amy holds the  Certified Luxury Home Marketing Specialist designation.

For Ohio and Cleveland Oh real estate and luxury homes see Cleveland OH Real Estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235 or email.

 

Homes For Sale in Cleveland OH What's my Cleveland Home Value

 

 LET'S CONNECT:

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Cleveland Oh Luxury Homes - Market Report First Quarter 2011 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©April, 2011

 

Cleveland Great Big Home And Garden Expo 2011

Cleveland Great Big Home And Garden Expo 2011

 

The Great Big Home And Garden Expo takes place February 5th-13th at the Cleveland I-X Center and promises to be better than ever this year, with features and attractions suited for all ages. Here are just a few of the highlights that you can expect to see:

 

Idea Home at Great Big Home And Garden Show Cleveland

 

Idea Home - You will be able to tour an actual 3350 square foot home that will give you some great ideas for your very own home. There are some interesting design features as well as many "green" elements to this home.  Some of the features of this $1,000,000 home include: two waterfalls, an elevator, three fireplaces, a billiards room and entertainment center.

The major "green" components to this home include: a wind turbine that powers the entire home by wind, solar-powered air conditioner, and flat green roof from which barrels will collect rain water.

The outdoor of this incredible home will include: a cedar swing set, complete with a rock wall, tire swing and slide, in-ground swimming pool complete with a cabana and outdoor kitchen, half-court basketball court, and incredible landscaping.

 

New Man Cave - There will be a 1000 square foot basement that will be the envy of every man in Cleveland, but you have to promise your wife that you won't spend all day here. This specially designed basement will feature a game room, complete with poker table and fireplace, designer bar, home theater room complete with seating and TV , an office and luxury bathroom. There will also be an outdoor area complete with a fountain and fire pit.

 

Celebrities - As always, there will be appearances and presentations given by many nationally recognized stars in the home improvement world. Here is just a glimpse of what you can expect:

 

 

Muriel Hemingway to appear at Great Big Home and Garden Show Clevland

 

Mariel Hemingway - The Oscar nominated actress has been promoting health and wellness over the years and will be speaking about her partnership with Cambria, quartz counter tops that are stain resistant and easy to care for.

 

John Gidding - host of HGTV's "Curb Appeal: The Block" will be appearing Feb. 5th and 6th.

 

Matt Fox and Shari Hiller - host of "Room by Room", will be providing a presentation titled "Great Weekend  Projects" that will showcase easy and inexpensive projects that can be done by anyone.

 

 

 

 

 

Cooking Stage - Since the kitchen often brings everyone together, there will be several cooking demonstrations taking place on the Cooking Stage every day. This feature of the Great Big Home and Garden Expo is sure to be a hit as attendees will get a chance see some great local chefs in action and will learn some tips that they can use in their own kitchen. There will be specific lessons during the evening sessions on how to prepare easy meals.

 

Garden Showcase - The area's top landscape designers will be showcasing their talents in the Garden Showcase. The gardens will be inspired by famous movies such as "Edward Scissorhands", "Alice in Wonderland" , "The Matrix", and "The Wizard of Oz". Visitors will be entertained by music and attendees will be able to vote for their favorite garden.

 

Innovation Avenue - The hottest products of 2011 will be on display. Learn about innovative new products and trends in design. 

 

There will also be plenty of food and local vendors on hand. This promises to be an event not to be missed with fun for the entire family, so please plan on attending. Mention the promo code BLOG and receive $1 off, courtesy of the Great Big Home And Garden Expo.

 

Ticket Info:

$14 Box Office (Adult Admission)

$11 Online, AAA or Home Depot locations ( Adult Admission )
$10 Seniors 65+ with ID ( Monday-Thursday only, tickets must be purchased at show box office )
$9 Group Tickets (Minimum 20 )
$5 Children ages 6-12 years

FREE Children 5 and under

(Single tickets valid for one day of the show )

Photos reproduced with permission from the Great Big Home And Garden Expo.

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About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Cleveland Oh real estate and homes see  Cleveland Oh Real Estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235 or email.

 

Homes For Sale in Cleveland OH What's my Cleveland Home Value

 

 

 LET'S CONNECT:

Subscribe via RSS! Follow Me On Twitter! Follow Me On Twitter! Follow Me On Twitter! Follow Me On Twitter!

 

Cleveland Great Big Home And Garden Expo 2011 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©January, 2011

Cleveland OH Real Estate - Relocating To Cleveland: The Complete Guide Part 2

Cleveland Oh Real Estate  Cleveland OH Real Estate - Relocating To Cleveland: The Complete Guide Part 2

 

Relocating to Cleveland Ohio

 

So, you are relocating to the Cleveland OH area. By now, you have hopefully read the first part of this series. In case you missed it, you can find it below:

Relocating To Cleveland, The Complete Guide Part 1

At this point, you have learned a little bit about Cleveland and have either chosen a real estate agent or are in the process of doing so. Now comes Step 2, choosing where to live in Cleveland.

The first thing you need to decide is if you are going to live on the East Side or West side. You see,  Cleveland is a city somewhat divided into two sides of town. It is a unique phenomenon. Additionally, Clevelanders simply don't like to drive more than 15-20 minutes to get somewhere. Therefore, people typically live and work on the same side of town. Coming from a big city, it took me a while to understand this local mentality, and we are still open to driving from one side of town to the other, but most locals are not. So, you need to keep this in mind if you have friends or family on one side of town and choose to live on the other as you may not see them very often. That is why deciding where to live is a very important decision.

 

Cleveland Heights Home

 

 

The East and West sides are different yet do share some similar characteristics. For example, both have inner ring suburbs, those bordering the City of Cleveland, that have older housing, yet are fairly affordable. Cleveland Heights, for example, is on the east side and has a lot of homes built in the early 1900's that have a lot of charm and character. Conversely, Lakewood is located on the West side and has similar type of housing. Both areas are popular for those wanting more of a "city" type of lifestyle. The locations of both are ideal as well for those who plan to work downtown.

 

 

 Luxury home

There are some high-end suburbs as well for those looking for more of a luxury life-style. For those who like the water, there are more suburbs on the West side, such as Bay Village, Rocky River, and Avon Lake that are located in close proximity to Lake Erie than on the East side. However, there are more luxury homes and estates located on the East side. 

People looking for newer upscale housing often choose Solon on the East side and Westlake on the West side. Both have highly ranked school systems and contain a large number of newer homes priced over $500,000.

 

 

If you are buying, you will have a lot more options of where to live. Cleveland is not the best "rental" city, especially if you are looking to rent a high-end home in the suburbs. Renting is always a possibility though, but just understand your options will be limited.

Also, if you have children, you may want to look into the different school systems and find one that is the best fit for your family. Then, you can find housing located within that particular school district. You'll be happy to know that some of the best public schools in the state can be found right here in the Cleveland area. There are also a lot of fantastic private schools in Cleveland as well if that is your preference.

 

Cleveland Schools

Lastly, we must also mention that although Cleveland is an "East" or "West" side town, there are several suburbs that are located South of the city that may be perfect as well.

Overall, there are a lot of great options of where to live in Cleveland. The most important thing is to become educated about the different areas of town so that you can be comfortable with your final decision. As mentioned in Part 1 of this guide, your real estate agent will be a great resource to you during the entire process.

Keep an eye out for Part 3 of The Complete Guide When Relocating To Cleveland where we'll be discussing the final steps of your big move.   

The following articles may be helpful during your move to Cleveland:

Real Estate Agents Are Not Just Door Openers - What A Buyers Agent Really Does

How Much Can I Get That Home Cleveland Home For

Important Contact Information When Relocating To Cleveland

Relocating To Cleveland - Helping Children With A Move

 

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Cleveland luxury homes and have worked with professional athletes and those relocating to the area

For Ohio and Cleveland OH real estate and homes see Cleveland Real Estate.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

SEE ALL CLEVELAND OH AREA HOMES FOR SALE BY CLICKING BELOW:

view all Cleveland luxury homes

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cleveland OH Real Estate - Relocating To Cleveland: The Complete Guide Part 2 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©September2010 

Cuyahoga County Fair 2010

Cleveland Ohio Real EstateCuyahoga County Fair 2010 

 

County Fair

The 114th Cuyahoga County Fair will be held this year on August 9-15 at the Fairgrounds in Berea, located at 164 Eastland Rd.

The annual fair is always a great time for young and old alike featuring great food, animals, rides, music, fireworks and much more.

There are different events held every day, so it is best to check out the official schedule ahead of time. A few highlights of this year's fair include:

*     Clowns and Juggler

*     Doughnut Eating Contest

*     COSI Interactive Science Exhibit

*     Haunted House

*     Live Music including a Saturday night concert, Pink Floyd Tribute Band "Wish You Were Here" and a fireworks show

Thursday is Kids Day for those ages 3-16. Special pricing will apply.

The County Fair is always a lot of fun and lasts an entire week.

Here are some of the most popular articles written by the authors:

Buying A Home In Cleveland - The Complete Guide

Moving Up In A Down Market Makes Sense 

Real Estate Agents Aren't Just Door Openers 

 

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This post is provided compliments of The Schuman Team, Keller Williams Realty Greater Cleveland. The Schumans specialize in luxury homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Cleveland OH real estate and homes see Cleveland Oh real estate.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

SEE ALL CLEVELAND OH AREA HOMES FOR SALE BY CLICKING BELOW:

view all Cleveland luxury homes

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cuyahoga County Fair 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©July2010

Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths

This post was written by one of our peers, Bill Gassett. He is one of the nations top producing real estate agents and services short sales in Metrowest Massachusetts. We wanted to share this post with those looking to get more information on Cleveland OH short sales as we feel it is very well written and will provide you with a great foundation regarding a short sale transaction. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

Via Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty):

            Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths

                                                                                                                                                         Short sales in Massachusetts

A short sale unfortunately has become a common buzz word in the Real Estate industry. For those that have been hearing the term "short sale" and don't quite understand what it means, a short sale is a legal lender approved solution designed to assist a home owners who is financially strapped to get out from under their mortgage debt.

A short sale is negotiated through the mortgage holder of an owners home where by the mortgage holder agrees to take less than what home owner owes on the property.

A quick example of a short sale would be if a home owner owes $400,000 on their current mortgage and their home is only worth $350,000. The lender in this example would agree to take a short fall of $50,000 at closing.

In some cases the mortgage holder may completely wipe out the debt and the home owner does not have to repay the 50,000. Many lenders may require a seller to sign a note and repay the debt over a certain amount of time. Typically the debt will be reduced and the owner may receive favorable repayment terms of the short fall.

There is quite a bit to know about short sales from both a buyer's and seller's perspective. I have been successfully been completing Massachusetts short sales over the last three years. In fact (knock on wood) I have never had a short sale that did not get approved! Successfully completing a short sale is about understanding the process.

Many consumers make extremely poor choices by working with Real Estate agents that don’t have a lick of experience with getting short sales approved.  Picking a good short sale Realtor is critical to your success.

The following is a number of specific topics about short sale transactions that you would want to be aware of if you are planning to either buy or sell one of these types of distressed properties.

 

Massachusetts short sale RealtorsStop making mortgage payments during a short sale? ~ Whether or not a home owner should continue to make mortgage payments is a common question that many sellers want to know when considering a short sale. The most common answer to this question is YES, however it really depends on the lender! Click the link to understand all the considerations.

Picking the right short sale Realtor ~ Picking a Realtor to work with in a short sale is very different than a traditional transaction. You want to work with an agent that has experience successfully closing this type of transaction. Remember as a seller you could potentially be facing a foreclosure. There are many mistakes that are made by agents handling short sales. Don't get caught with your pants down!

Questions to ask a short sale listing agent ~ If you are thinking about buying a short sale there are some specific questions you can ask the listing agent to determine the probability that the short sale will be approved or not. These short sale questions will also help determine if the Realtor handling the short sale knows what they are doing!

Acceptable hardships for a short sale ~ On many occasions when doing a short sale the lender is going to require some kind of hardship on the part of the seller. Short sale hardships however, have become less rigid recently and some lenders are becoming more concerned strictkly on whether the short sale would benefit them more than a foreclosure sale.

Short sale tax consequences ~ Understanding the tax consequences in a short sale is one of the most important considerations for a home seller. Whether the short sale home was a primary residence or an investment property can have different tax implications.

Getting short sale debt released ~ Getting the debt released on a short sale is obviously a very big deal. Many Realtors that are working with short sales don't have any knowledge of how to get the debt released. A seller needs to pay particular attention to this detail as you can expect to be hearing from a collection agency without it!

When to do a short sale home inspection ~ This topic is important to understand from both a buyer's and seller's perspective. A home inspection should be done before short sale approval and NOT after. Read the article to understand why it benefits both the buyer and seller to do so.

Strategic default vs short sale ~ There are many home owners who are deciding just to walk away from their homes. Fannie Mae has started to crack down on this practice and is now penalizing borrowers from getting a mortgage for up to seven years! A perfect alternative to a strategic default is a short sale.

These articles were published on my Massachusetts Real Estate blog where I talk about numerous topics that are important to consumers who may be thinking about buying or selling Real Estate.

I am successfully completing short sales through out the Metrowest Massachusetts area. So far, knock on wood, I have a 100% success rate for short sale approval! If you need to complete a Massachusetts short sale please feel free to get in touch.

If you are outside of the Metrowest Massachusetts area and need to do a short sale please give me a call or email and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country.

___________________________________________________________________________________________________

About the Author: The above Real Estate information on understanding short sale transactions was provided by BillRE/MAX Executive Realty Metrowest Massachusetts Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham and Douglas MA.

Click here to view Bill Gassett's Real Estate profile.

 

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SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

Cleveland OH Real Estate - Relocating To Cleveland: The Complete Guide Part 1

Cleveland OH Real Estate - Relocating To Cleveland: The Complete Guide Part 1

 

Rock and Roll Hall of Fame

 

So, you've just found out you are relocating to Cleveland Ohio. Like most people in your situation, you are probably going through a wide range of emotions. You are also beginning to realize how much work you have to do to prepare for your big move. This guide was designed to help alleviate the stress that comes with relocating and to provide sound advice.

WHY ARE WE PROVIDING THIS GUIDE?

We personally relocated to Cleveland almost 15 years ago and know exactly what you are going through. We understand how stressful moving to a new city can be, especially if you don't know a lot of people, and we wanted to provide some help and friendly advice.  So, take a deep breath, try to relax and let us help you put together a successful game plan so you can have a smooth transition when relocating to your new home, Cleveland, Ohio.

ABOUT CLEVELAND

First things first, since you are moving to Cleveland, you should learn a little bit about one of Ohio's largest cities. Overall, Cleveland is known as offering its residents the amenities of a big city but with the feel of a small town. The people here are also very welcoming to outsiders, willing to extend you our Midwestern hospitality. We are confident that in time, once you get to know all the fantastic things Cleveland has to offer, you will become excited to be a part of our community. 

 Cleveland Museum of Art

Cleveland has a rich history and has been named an All-America City on several occasions over the past twenty years. It also boasts many historic landmarks and cultural institutions such as Terminal Tower, Cleveland Grays Armory, The West Side MarketSeverance Hall, The Cleveland Museum of Art, Cleveland Botanical Garden, and the Cleveland Metropolitan Parks System (more commonly known around town as "the Metroparks")  which includes the Cleveland Zoo. Cleveland is also home to 3 major sports teams and numerous minor league teams as well.

 

 

There are a ton of things that are great about Cleveland, such as the cost of living, culture, shopping and lack of traffic compared to big cities.  In fact, here is our complete list of our top 10 things that are great about Cleveland.

So now that you have learned a little bit about our town, on to the task at hand, your upcoming relocation to Cleveland

STEP 1 - ADDRESS YOUR HOUSING NEEDS

A major step in the relocation process is finding a place to live in Cleveland. Do you want to live on the East side or West side? Are you going to rent or buy? What can you get for your money here in Cleveland? Cleveland has some great housing options, but you'll need someone to guide you through the process.

 

 Home in Cleveland Ohio

 

We highly recommend hiring a real estate agent to help you find suitable housing.  This person, especially if you don't have a lot of contacts in Cleveland, will be relied on for more than just housing too.  They will be your tour guide, friend, and in general, a valuable resource for everything, not just real estate. You may need to find specific information on schools, doctors for your children, places to board your pet, restaurants and shopping, so a good local agent will play a critical part in a successful move. 

When we moved here in the mid 90's, we were very fortunate and grateful to find a fantastic agent to help us with our move. She was so valuable to everything we did and we are still friends with her to this day.

If you are relocating to Cleveland, you will have 2 options when it comes to finding a real estate agent:

1. your company, if assisting in the move, will find you an agent on your behalf.

2. find one on your own

If your company is handling your move, be cautious as relocation companies don't always match relocating clients with an agent who is a great match. Sometimes a company merely assigns an agent based on seniority or production without really giving thought to specific needs of the person being relocated. Even if your company is coordinating everything for you, the choice of which real estate agent to use is still up to you.

If you are on your own to find an agent, do some research and choose wisely. Getting names of agents from friends or family is helpful. You can also find some great information on line. No matter who you hire, it is important to define what you want in an agent and what you expect of their services. This way, when you can contact them, you can be sure to ask the right questions to make sure they are a good fit.

Once you have decided on an agent, it is now time for step 2, Where To Live in Cleveland. This will be made available in a few days, so please keep reading our blog.

Here are a few helpful articles pertaining to relocating to Cleveland OH:

Cleveland Ohio relocation - Important Contact Information

Buying A Home In Cleveland - The Complete Guide 

Cleveland Ohio Private Schools

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About The Authors:

Dan and Amy Schuman reside on the East side of Cleveland. They specialize in luxury homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Cleveland OH real estate and homes see Cleveland Oh real estate.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

SEE ALL CLEVELAND OH AREA HOMES FOR SALE BY CLICKING BELOW:

view all Cleveland luxury homes

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cleveland OH Real Estate - Relocating To Cleveland: The Complete Guide Part 1 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©July2010    

Disclaimer: The Schuman Team practices real estate in Ohio. Since many states have different laws and protocol regarding a real estate transaction, we recommend consulting a qualified local legal professional prior to entering into any written agreement. This blog contains observations and opinions related to our first hand experience working with buyers and sellers in Ohio, but should not be construed as legal advice.  Accuracy is not guaranteed.  

Cleveland OH Real Estate - Bi-Annual Luxury Home Report 2010

 Cleveland OH Real Estate - Bi-Annual Luxury Home Report 2010

 

 

Cleveland OH luxury home market report 2010

 

 

Below are luxury home sales statistics for the first 6 months of 2010 in Cleveland, specifically the Eastern suburbs of Cuyahoga County. We also included figures from the first 6 months of 2009 so a comparison can be made. Commentary to follow.

 

All Sales           # Of Homes Sold         Ave. Sales Price              

YTD 2010                 66                          $685,707

YTD 2009                 59                          $661,592

*source NEOHREX ( Regional MLS )

High Sale YTD 2010 = $1,600,000

 

Commentary - Cleveland OH luxury homes have seen an increase in activity compared to the same period of time last year.  Overall sales are up over 10% from last year and the average sales price has increased as well. A majority of sales are in the lower level luxury price range. Here is a break down in terms of price of all sales this year:

Price Range                      # Of Sales

$500,000-749,999                  51

$750,000-999,999                  11

$1,000,000+                           4

While our Cleveland bi-annual luxury market report does show improvement from last year, there is still general concern about the overall real estate market, especially with the large inventory of homes currently on the market.  Right now there are 296 active luxury home listings, and based on 11 sales per month, that gives us over a 2 year supply of luxury homes on Cleveland's east side. Among these listings are 14 homes listed over $2,000,000.

With all due respect to luxury home sellers, this is great news for buyers and some seem to be taking advantage. We currently have 38 luxury homes under contract, many priced over $1,000,000. Also, rates will continue to be low, making the purchase of a luxury home even more attractive.  Moving forward, we anticipate luxury home sales to be slightly higher in 2010 then they were last year.

Below are other articles of interest pertaining to the Cleveland luxury home market:

Why Hiring A Luxury Home Agent Is Important

Defining A Luxury Home In Cleveland

Local Agent Receives Luxury Home Designation

Solon OH Luxury Home Report 2009 

 

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About The Authors:

Dan and Amy Schuman reside on the East side of Cleveland. They specialize in luxury homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Cleveland OH real estate and homes see Cleveland Oh real estate.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

SEE ALL CLEVELAND OH AREA HOMES FOR SALE BY CLICKING BELOW:

view all Cleveland luxury homes

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cleveland OH Real Estate - Bi-Annual Luxury Home Report 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©July2010    

Disclaimer: The Schuman Team practices real estate in Ohio. Since many states have different laws and protocol regarding a real estate transaction, we recommend consulting a qualified local legal professional prior to entering into any written agreement. This blog contains observations and opinions related to our first hand experience working with buyers and sellers in Ohio, but should not be construed as legal advice.  Accuracy is not guaranteed.   

Cleveland Ohio - Fourth Of July Fireworks 2010

Cleveland Ohio - Fourth Of July Fireworks 2010

Cleveland OH fireworks 2010

Since we are expecting warm weather with clear skies all weekend, this promises to be a spectacular year  to gather with friends and family to watch fireworks.  Here is a list of upcoming fireworks shows in various cities throughout the area, including the East side suburbs of Solon, Shaker Heights, and Cleveland Heights. Please note, due to budget shortages, many communities across the Cleveland area will not be having their traditional fireworks show.   

Friday, July 2nd:

Hudson: Dusk, Barlow Farm Park

Saturday July 3rd:

Bratenahl: Dusk, Bratenahl Village Park

Mayfield Village: Dusk, Wilson Mills and SOM Center Road

Sunday, July 4th:

Aurora: Dusk, Sunny Lake Park. Rain date July 5.

Avon Lake: Dusk, Miller Road Park

Cleveland: 10pm, in The Flats where the Cuyahoga River meets Lake Erie

Lakewood: Dusk, Lakewood Park

Shaker Heights: 8PM , Shaker Middle School, 20600 Shaker Blvd.; at dusk

Solon - Solon Community Park,6679 SOM Center Road dusk

Westlake: Dusk, Clague Park

There will be NO FIREWORKS this year in the following areas:

Chagrin Falls

Cleveland Heights

Pepper Pike

Rocky River

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans are residents of Solon OH and have worked with numerous professional athletes, business owners, and executives who are relocating to Cleveland.

If you are looking to buy or sell Cleveland OH real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND OH AREA HOMES FOR SALE BY CLICKING BELOW:

view all Cleveland luxury homes

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cleveland Ohio - Fourth Of July Fireworks 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©July2010    

Cleveland Ohio Real Estate - What Happens After The Home Inspection

Cleveland Ohio Real Estate - What Happens After The Home Inspection

  the home inspection process

In this article, we will discuss the post-inspection process when buying a home here in Cleveland and give suggestions on how to move forward in a smooth manner in order to get what you want.

At this point in the process, we will assume that you have thoroughly gone over the inspection report and discussed issues of concern directly with the home inspector. While discussion here will be limited to post inspection issues only, you can read about the entire buying process by viewing the link below:

 A Complete Guide To Buying A Home in Cleveland

One of the most stressful parts of the home buying process can be dealing with post-inspection issues. Depending on how you proceed, this next step can lead to round 2 of negotiations. Regardless of how round 1 went, this particular step can be very unpredictable

Emotions on both sides are typically heightened at this point as both parties have time and or money vested into the transaction. The buyer has spent money on an inspection and possibly an appraisal, and the seller has taken their home off the market and possibly spurned other offers in hopes that the transaction will go through.

When buying a home in Cleveland, there are 3 official ways to respond to an inspection based on the wording of our standard purchase agreement:

 

  1. If the inspection came out clean, you can remove the inspection contingency from the contract
  2. If a major issue came up, like structural damage to the foundation, you can opt out of the agreement.
  3. You can remove the inspection contingency from the contract based on conditions that you want addressed.

 Since #1 and #2 above are pretty clear cut, let's talk about how to handle #3. 

Normal protocol dictates that a seller will most likely address major health and safety issues either by offering to fix the problem or reduce the purchase price by the amount it would take to fix it. These types of things would include mold or radon remediation, electrical code violations, or anything else deemed by the inspector to be related to health and safety.

Many buyers prefer to submit a cost estimate to the sellers and simply have this amount reduced from the purchase price rather than ask the seller to repair something. This gives them control on how it gets fixed and by whom.

Be aware that every situation is different, so don't assume a seller will address any and all of these issues.

Here are some important concepts to understand as you move forward with the post-inspection process:

1.  The home inspection should not be used solely as a way to re-negotiate a better price. A lot of buyers make the mistake of buying a home, feeling that they overpaid for it ( many buyers feel this way after the initial negotiations ), and then using the inspection report to re-negotiate the price. This is not the best way to view the process.

2.  You are purchasing the home in its as is condition and your offer should have reflected this. Your initial offer should have been made based on the current condition of the home and the information you had up front.  Asking the seller to reduce the purchase price by $800 to compensate for a hot water tank that you knew up front was 15 years old would most likely be seen as disingenuous to the negotiating process and may hurt your efforts to get additional concessions.

3.  An inspectors advice about negotiating should be taken with a grain of salt. While most inspectors stick to presenting the facts, some interject their opinions or thoughts. I once had an inspector say to my buyer " if it were me, I would make the sellers do .........."   and none of these were health or safety issues.  Remember, the inspector is not the one making the buying decision and is not aware of the dynamics of the transaction. The inspector may have great technical skills regarding a home, but that doesn't make him is a good negotiator.

4.  Presenting sellers with a lengthy list of items to fix may be a poor strategy for getting what you really want.  A major mistake buyers make is putting together a "laundry list" of things they want the seller to fix, knowing that many of the items are trivial and probably won't be addressed. The mentality here is that if you ask for 10 items, maybe they'll do 5. However, this approach may really tick off the sellers and backfire on you.

5.  Keep your list short and sweet. If there are only a few items that are really important to you, ask for these to be addressed. Is it worth the risk of alienating the sellers by presenting them with a lengthy list of demands? Your agent can communicate that you could have asked for more things, but asked for only the most important, just to be fair. Sellers will typically appreciate and respond better to this approach.

Before deciding on what items you want the seller to fix, think very carefully about your approach during this critical stage of the home buying process. Being fair, reasonable, and most important, courteous toward the seller shouldn't be overlooked.  Sometimes getting what you want is all in the approach and the way you ask. 

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Cleveland luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Cleveland OH real estate and homes see Cleveland real estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL CLEVELAND OH HOMES FOR SALE BY CLICKING BELOW

 

search all solon homes for sale

 

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cleveland Ohio Real Estate - What Happens After The Home Inspection is the property of The Schuman Team and may not be duplicated or used without their written consent. ©May,2010  

Cleveland Named One Of Best Bicycling Cities

Cleveland Named one of Best Bicycling Cities

 

Cleveland one of best biking cities

 

For the first time, Bicycling Magazine has added Cleveland to its list of best cities for bicycling.  This list is based on government and community initiatives that offer more amenities to bicyclers as well as overall efforts of the area to "go green" and provide better conditions for healthy recreation. This is the first time Cleveland has made the list.

Cleveland was officially ranked number 39 on the list and was named a "rising star" by the magazine.  Bicycle enthusiasts are delighted to see our city recognized.  Cleveland currently has eight trails and is planning to add eight more.  We also have one of the biggest Metropark systems in the country, with great trails for biking. In addition, the city is also considering creating a "Bike Station" downtown, a place where there would be lockers and showers, and repairs could also be done.   So get out there, enjoy the city and get some exercise.

Don't have a bike - visit the local bike shops in your neighborhood for expert advice on what you need to join the fun. We also encourage riders to be cautious and practice safety at all times, and that includes wearing a helmet.

For more info - pick up the May issue of Bicycling Magazine.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans are residents of Solon OH and have worked with numerous professional athletes, business owners, and executives who are relocating to Cleveland.

If you are looking to buy or sell Cleveland OH real estate, including the surrounding suburbs, please contact the Schuman Team at 216-346-3235. 

SEE ALL CLEVELAND OH AREA HOMES FOR SALE BY CLICKING BELOW:

view all Cleveland luxury homes

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 

Cleveland Named One Of Best Bicycling Cities is the property of The Schuman Team and may not be duplicated or used without their written consent. ©April2010