Cleveland Real Estate And More

Solon Real Estate - Monthly Home Statistics February 2010 

Here are all the homes that sold in Solon in February:

Summary:

The winter months are typically slower, with only serious buyers and bargain hunters venturing out in the cold and snow. February home transfers are a result of contracts written in November and December, and Januray, not necessarily an indication of current market activity.

While bank owned and distressed properties make up about 30% of the market nationwide, there was only 1 bank owned home that sold in Solon last month. While the inventory of Solon bank owned homes has decreased over the last year, some people believe that there will be another wave of foreclosures in the near future as many adjustable rate loans are due to re-set. Until then, bargain hunters looking for huge deals may want to look elsewhere.

There are currently 35 homes under contract, which shows that there are homes selling and buyers out in the marketplace. This is even more impressive considering last month was one of the snowiest on record. Homes in the mid-level price points may be deemed the most desirable right now as buyers are still looking to take advantage of the home buyer tax credit, which will be expiring on April 30th.

There is really good news for the Solon luxury home market as 3 homes priced over $500,000 went under contract last month, including one priced over $1,000,000. Perhaps consumer confidence is growing and we will see more high priced homes sell this year.

We still anticipate a lot of buyer activity over the next 60 days, as the weather is beginning to improve and the inventory of new homes coming onto the market grows.

Below Are Other Articles Of Interest Relating To the Solon real estate:

Solon Luxury Homes - Year In Review 2009

Solon real estate - year in review 2009

Is the tax credit deadline really April 30th?

Tips when selling your home in the winter 

********************************************************************************************

About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Real Estate - Monthly Home Statistics February 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©March,2010 

What's New In The Solon Restaurant Scene

To most people who live here, the only complaint you hear about our wonderful City of Solon is that "we don't have enough good restaurants".  Well, it looks like our luck has finally changed.

The hottest restaurant news is that Pacific East has come to Solon and is now open for business!  The Schuman Team loves the amazing sushi this restaurant serves up at it's Eton Place location and is thrilled to welcome this restaurant to our fair city.  You can find it at 33003 Aurora Rd. (next to Penn Station Subs).

Also new to Solon is Benny's Grill.  Benny's Grill offers great casual dining that is great for a business lunch or a family dinner and has become a favorite for many of our local friends. It is located next to Office Max at 33587 Aurora Rd., although it is a little hard to find right now because the only visible signage is a neon martini glass in the window.    

Other exciting Solon restaurant news is the grand reopening of Imperial Wok in the former Rockne's location (33825 Aurora Rd - at the corner of Aurora & Rte 91) .  After 22 successful years in their old Solon location, it was time to offer more - more space with two dining rooms, more drink choices with expanded bar services, and more choices with the addition of made to order sushi. The atmosphere is great for happy hour or family dining. They also do a great take-out business as well.

And coming soon - the popular Panini's Grill will be opening in the space formerly occupied by Tony Roma's at the corner of Solon Road & Kruse Drive.  Many of you already know the "Home of the Famous Overstuffed Sandwich", but for those of you who haven't had the pleasure, they serve up scrumptious hot sandwiches with their signature french fries in the middle.  It's a bar style atmosphere with lots of tv's for watching your favorite sports teams.

So, dining in Solon has suddenly gotten better, and the residents couldn't be happier. Check out these locally owned restaurants and experience our new and improved restaurant scene.

************************************************************************************************

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team at 216-346-3235.

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

What's New In The Solon Restaurant Scene  is the property of The Schuman Team and may be duplicated or used without their written consent. ©March,2010

Taste of Solon 2010

The annual taste of Solon is just weeks away. Specifically, it will be held Sunday, March 14th, 2010 from 4-7PM at Signature Country Club.

For those who have never attended, it is a great way to taste food from many different Solon and surrounding area restaurants and socialize with your local friends and business associates. Food will be available from popular local and national restaurants such as:

Glenwillow Grille

Hilton Garden Inn

Jekyll's Kitchen                                  

Panera Bread

Rusty Bucket

Station 43 

and many others....

The event will also feature a silent auction, live music, and prizes. Tickets are only $25. Call 440-248-5080 today to make your reservations to attend this fantastic event.

**********************************************************************************************

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team at 216-346-3235.

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Taste of Solon 2010  is the property of The Schuman Team and may be duplicated or used without their written consent. ©Feb,2010

Solon Community Park and Playground

While most local residents are familiar with all the great amenities our city has to offer, we would like to highlight one of the real gems of Solon, the Solon Community Park.

People relocating to Solon, especially those that have children, are always curious to learn if we have any  local playgrounds, so we wanted to highlight the one that is most well-known.  

The Solon playground is located in the heart of the city, across the street from the Solon Public Library. The playground area is actually part of the larger Solon Community Park. The official address is 6679 SOM Center Road, although in addition to the main entrance off SOM, there is another entrance off Portz Parkway. There is plenty of free parking available.

The playground offers 2 updated playground areas, one for toddlers and young children, and a separate area for older children. There is seating along the perimeter so adults can relax while watching their children play. There is also plenty of open grassy area available surrounding the playground. Restrooms and a water fountain are located in close proximity to the playground as well.

The Solon playground, as previously mentioned, is part of the Solon Community Park. In addition to the playground, the park consists of baseball diamonds, a volley ball court, basketball court, skateboard park, and pavilion.

The covered pavilion offers a grilling area and enough seating to host large parties. It is a very popular destination for family reunions and other large social gatherings, especially in the spring and summer, so reservations are a must. We have seen many instances where large parties just show up, and are disappointed to find out they cannot use the pavilion because it was already reserved by another party. To make reservations, we recommend calling the Solon Recreation Department at 440-248-5747 well in advance of your function. 

Below are other articles of interest pertaining to Solon:

Money Magazine Ranks Solon Top Places To Live

Newsweek Ranks Solon On Top Schools List

Solon - A Special Community

 Solon Schools

Solon Luxury Home Neighborhoods:

Chagrin Highlands of Solon

Forest Hills

Huntington Woods

North Hill

North Park

Preserve

Rollingbrook

Signature of Solon

Thornbury of Solon

********************************************************************************************

About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Community Park and Playgrounds  is the property of The Schuman Team and may be duplicated or used without their written consent. ©Feb,2010

Rotary International Forming Solon Chapter

The local Rotary district is looking to expand by opening a Solon club. This is an exciting opporunity to become a charter member and part of one of the most well respected organizations in the world.

What Is Rotary?

Rotary International is the world's first service club organization, and has over 1,000,000 members. There are clubs located not only throughout the US but actually 33,000 clubs throughout the world. Rotary club members are those who are willing to give of themselves to help better their local and international community.

Rotary is most famous for being the driving factor for helping to eradicate polio worldwide. Their immunization efforts have been an effective force in reaching out to third world countrys and making sure children are imminized against this horrible disease. Even though Rotary has had much success, help is still needed at all levels of the organization.

Who Should Join?

Rotary is looking for business, professional, and local leaders who are looking to give back to the local Solon community. If you live or work in or near Solon and would like to get involved with this prestigious world-wide  organization, becoming a charter member of the Solon club is a great opportunity.

While Rotary is not a networking organization, members do receive numerous benefits. Being able to work with your local peers to help better the local community is rewarding in and of itself. However, members do have a chance to work together both personally and professionally, and also make lifelong friendships. Becoming part of Rotary will ehhance your life.

What Is Expected Of Memebers

The time commitment to be a member of the Solon Rotary Club are minimal, but the rewards are great. The club will meet weekly, at a time and place yet to be determined. Yearly dues are minimal, at approximately $250 a year. There will be other events that occur thoughout the calander year as well. Like any other organization, members will get out what they put into it.

For those that would like more information, feel free to contact me. 

*************************************************************************************************

About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. Dan is a former Rotarian, having been a member of the Chagrin Highlands Rotary Club for 5 years.

The Schumans live in Solon and have worked with numerous professional athletes, business owners, and executives who are relocating to Cleveland. They specialize in the Cleveland Ohio luxury home market and also enjoy working with first-time buyers as well.

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

 Solon Real Estate - Monthly Home Statistics January 2010

As most people know, January is typically a slow month in real estate in terms of sales. However, we did see the same number of transfers last month as we did in January 2009.

Here is an unofficial list of homes that sold in Solon last month:

Summary:

While the winter months traditionally bring out the bargain hunters looking for distressed properties, only one of these homes would be considered in that category as it was a short sale. Otherwise, all the homes that sold last month were normal transactions, a possible good sign that the huge run of Solon bank owned homes is over.

The good news is that there are 31 homes currently under contract, most likely to transfer over the next 60 days. Even better news is that 4 of them are luxury homes, those priced over $500,000. Last year the Solon luxury home market was unusually slow, so perhaps this is in indication of a turnaround.

Moving forward, the home buyer tax credit will be expiring on April 30th. This should mean an increase in activity over the next 90 days. There are a lot of buyers out there sitting and waiting for the perfect house, and still a relatively small inventory of available homes, as is typical this time of the year.

Any Solon home owner considering selling their home should do so now, provided they have a very nice home and price it competitively. This spring will bring a flood of buyers to the market, with unusual demand created by the home buyer tax credit. While there has never been a better time to buy, now is also a great time to sell.

Below Are Other Articles Of Interest Relating To the Solon real estate:

Solon Luxury Homes - Year In Review 2009

Solon real estate - year in review 2009

Is the tax credit deadline really April 30th?

Tips when selling your home in the winter 

********************************************************************************************

About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Real Estate - Monthly Home Statistics January 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Feb,2010

SOLON BANK OWNED HOMES

While many companies sell consumers lists of bank owned homes, the lists being offered are rarely accurate. So, save your money, don't pay for a list and get the information on Solon bank owned homes right here, compliments of The Schuman Team.

Right now, despite what some reports may indicate, the inventory of Solon bank owned homes is small. There are an additional 19 homes listed as short sales, however. Here is an up to date list, as of January 24, 2010, of streets in Solon where there are currently bank owned homes.

While many bank owned homes in Solon have sold over the last several years, banks are becoming more willing to negotiate up front so they can avoid the foreclosure process. Therefore, the number of Solon short sales is on the rise, and could be a more viable option for those buyers looking at Solon bank owned homes.

In fact, short sales may end up being even better than bank owned homes as they have not been sitting vacant for 1-2 years and the pricing can be just as good.

For a complete list of Solon bank owned homes and short sales, including full addresses and photos, if available, please contact us and we will be happy to email them to you. 

Click below to find other articles of interest pertaining to Solon:

Bank Owned Homes In Thornbury of Solon

Buying A Bank Owned Home in Solon, The Good, Bad, and Reality

Shopping in Solon

Solon Short Sales

Solon- A Great Community

******************************************************************************************

About The Authors:

Dan and Amy Schuman are Solon residents. They specialize in luxury homes, working with buyers relocating to Solon, and buyers looking to buy distressed properties in Solon.

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

 *Please note that the Schuman Team, Amy and Dan Schuman, are licensed real estate agents in the State of Ohio but are NOT licensed to practice law. We want to be clear that while a real estate agent can assist with a buyer and seller during the real estate transaction, the process, especially buying a short sale or bank owned home can be more complicated than a traditional transaction. Therefore, we welcome consumers to seek the advice of a qualified real estate attorney prior to signing any legal documents.

Solon Bank Owned Homes is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan, 2010

Solon Luxury Homes - 2009 Year In Review

Here is our official 2009 year in review for Solon Luxury Homes complete with a comparison to 2008. We will provide commentary after giving Solon luxury home statistics. Please keep in mind that due to the merging of two different multiple listing services in 2009, the 2008 statistics below may differ slightly from last years' year end statistics. In the Cleveland real estate market, the definition of a luxury home is one that sells for at least $500,000.

Luxury Sales     # of Homes Sold        Ave. Sales Price              Ave. Days on Market

2009                        31                      $599,060                             128

2008                        48                      $657,456                              97 

Highest Sale = $785,000

Here is a breakdown of 2009 sales by price:

Price  Range                    Sales

$500,000-599,999              16

$600,000-699,999               8

$700,000-799,999               7

$800,000+                          0

Commentary:

There is really no way to sugar coat the numbers for 2009 in regards to Solon luxury homes: it was not a good year. In fact, 2009 saw the lowest actual number of luxury homes sell (31) since 2002.   In addition, 11 of these sales were either bank owned or distressed in some way. This was also the first year since 2000 that there was not a sale over $800,000 in the Solon luxury home market.

From 2004-2008, the Solon luxury home market was extremely active, coinciding with the real estate boon.  While we may not see 55-65 luxury homes sell per year here in Solon in the near future, the slowly recovering economy should make buyers more comfortable moving forward with buying a luxury home.

As we look ahead to 2010, our prediction is that the number of sales of luxury homes in Solon will increase slightly.  We will probably not see as many bank owned homes either, as short sales will be much more common. The $500,000-600,000 price range will continue to be the focal point of local move up buyers, and we think this segment of the luxury market will actually become more balanced in 2010 and less of a buyers market. In fact, there are signs currently indicating this shift.

Buyers relocating to Solon still have quite a few homes to choose from in the higher-end price ranges (46 current active listings ) with more due to come on the market in the spring. If you are a seller looking to sell this year, it is wise to price very competitively.

Below are past articles that relate to the content of this post.  

2008 Year End Housing Summary Solon Ohio

2008 Luxury Market Report Solon Ohio

***********************************************************************************  

About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Luxury Homes - 2009 Year In Review is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan,2010

 Solon Real Estate - 2009 Year End Home Statistics

Here is our official 2009 Solon Real Estate year in review complete with a comparison to 2008. We will provide commentary after giving statistics. Please keep in mind that due to the merging of two different multiple listing services during 2009, the 2008 statistics below may differ slightly to last years' year end statistics.

All Sales           # of homes sold         Ave. Sales Price              Ave. Days on Market 

2009                       245                           $285,607                             107  

2008                       244                           $334,040                              97

Highest Sale = $785,000

Lowest Sale = $25,499

Luxury Sales     # of homes sold        Ave. Sales Price              Ave. Days on Market

2009                        31                            $599,060                             128

2008                        48                            $657,456                              97 

COMMENTARY

Actual sales in Solon real estate in 2009 were almost exactly the same as the total number of sales in 2008. The main difference is there were more homes selling in the lower price points and much fewer luxury home sales.

Overall, the local real estate market here in Solon responded quite well to the worst economy since the Great Depression. Considering that more homes actually sold this past year compared to 2008, we feel that the bottom of the market is behind us and look forward to more home sales in 2010.

Although the average sales price decreased from 2008, that can be mainly attributed to the lack of Solon luxury home sales. 

The Solon luxury home market was very weak in 2009, specifically homes priced over $750,000. While the market for homes priced in the $500's and $600's was actually quite balanced, the upper end of the luxury market was almost non-existent in 2009.

This past year also saw quite a few bank owned and distressed property sales, especially in the luxury market. This was a main reason for the overall lower average sales price in 2009 compared to 2008.  However, bank owned homes in Solon are not as common now as they had been over the last two years. Short sales will be much more prevalent moving forward as banks are more willing to work things out with sellers in today's market in an effort to avoid foreclosure and the costs involved with the process.  

The overall resiliance of the Solon real estate market in 2009 is in great part due to Solon having one of the top rated school systems in the nation, as there is typically greater demand for real estate in an area that has highly rated schools.

Check out previous Solon Ohio market reports:

Solon 2009 First Quarter Market Report All Homes

2008 Year End Housing Summary Solon Ohio

2008 Luxury Market Report Solon Ohio

***************************************************************************** 

About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Real Estate - 2009 Year End Home Statistics is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan,2010

 SOLON MONTHLY HOME STATISTICS NOVEMBER 2009

Here is a list of all homes that officially transferred in November. We will provide a summary after the list.

As predicted in recent posts, last month was a very active month in terms of home sales here in Solon. Officially, there were 22 total homes that sold in November in Solon at an average sales price of $244,427. This is almost the same exact average sales price as September and October. Last November saw only 11 sales at an average price of $248,364. These Solon home statistics indicate a trend of lower and moderate priced homes selling and Solon luxury homes, those priced above $500,000, continuing to linger on the market.

SUMMARY

Total sales year to date are almost exactly the same as this time last year. In fact, we need only 18 sales in December to exceed last years' figures. While that doesn't sound like much, having more sales this year than 2008 may be the sign buyers are waiting for to see that the housing market may have indeed bottomed out.

Average sales price, however, has decreased from 2008. Year to date, the average sales price of a home in Solon is $292,626. Last year at this time saw the average sales price at $341,572.

Does this mean that homes in Solon have depreciated over 10%? Not necessarily. The average sales price is an indication of more lower priced homes being sold, especially many that are bank owned or distressed in some way. This, coupled with the lack of luxury home sales, has brought the average sales price down in 2009.

For those looking to buy a home in Solon, it is not accurate to assume that home prices have decreased across the board. The sale of a bank owned home cannot be compared to that of a well maintained home, so the actual Solon home statistics can be a little misleading.  Nice homes in many developments have been able to maintain their values for the most part over the last year. Sure, the market is still soft, but in many price points, updated and well-maintained homes priced fairly will still be able to sell for 94-96% of their list price. 

The one area of concern is the market of Solon luxury homes as they are simply not selling like in previous years. In fact, 2008 saw 48 luxury home sales in Solon whereas there have been only 31 so far in 2009. In addition, 11 of the sales this year, over 35%,  have involved distressed properties. Also, there were 23 luxury home sales in Solon in 2008 over $650,000. This year, we have seen only 7 homes sell for over $650,000.

Check out previous Solon Ohio market reports:

October 2009 Market Report Solon Ohio

September 2009 Market Report Solon Ohio 

July and August 2009 Market Report Solon Ohio

May 2009 Market Report Solon Ohio

April 2009 Market Report Solon Ohio

Solon 2009 First Quarter Luxury Home Market Report

Solon 2009 First Quarter Market Report All Homes

2008 Year End Housing Summary Solon Ohio

2008 Luxury Market Report Solon Ohio

***************************************************************************** 

About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Real Estate - Monthly Home Statistics November 2009 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Dec,2009