Inventory in Parma is a bit higher than Lakewood.  As of today, there are 397 single family homes for sale in Parma Ohio.  That still puts Parma into the category of about 18+ months of homes for sale.  (If anyone wishes, I can delve into homes in various price ranges to see if there is an existing need for homes in those categories.  It’s an interesting way to analyze and I can do that for communities as well.)

There are however, 94 homes under contract, meaning offers were accepted more recently and sellers and buyers are waiting for mortgages to be approved, inspections satisfactorily completed, and titles to transfer.  What did buyers like? 

First, all but a handful of these 93 homes are 3 or 4 bedroom homes.

Second, ranches are, luckily, a bit more abundant in Parma than in some other communities.  Ranches can be hot commodities because in that category, there is often a need for more listings. The range of ranches under contract start around $50k and go up to $189,900. 

Ten homes were listed at $120k or more.  And yes, there are quite a few listed under $75k and many of them are involved in the foreclosure process. For homes buyers recently liked, the average price per square foot is $60/square foot.

Since July, 331 homes have sold in Parma. The average sale price was $87,880 and $60/square foot. (Interesting to me that both Lakewood and Parma showed same ‘per sq. ft. price for pending sales and past six month sales…). 

The highest sale price in the past six months went to a home on Peachtree for $215k.  There were about 50 homes sold between $120k and $200k. 

The other similarity to Lakewood comps, is that most (with a few exceptions) had the ‘move in/turn key’ quality going for them.  Even if they needed some updating, they were ready for buyers to move in and do the work, if they chose that route.  I notice air conditioning (central air) more prominent among

There are 103 single family homes for sale by area brokerages in Lakewood Ohio as of today.  This is good news, it means inventory has stabled out over the past year.  We are not seeing 300+ single family homes for sale.  Could this change? Could more foreclosures hit the market? Well yes.  But the trend is holding in the ‘good’ range for a while now.

The average listing price of these 103 homes is $158,400 and $84 a square foot.

What have recent buyers decided to buy in Lakewood? There are 45 single family homes under contract in Lakewood.  These homes were on the market an average of 197 days before going under contract between the buyers and sellers.  The average square foot price for these 45 homes is $66 a square foot.  We don’t yet know the sale prices; have to wait for them to transfer title to have that information public.  But what can we tell about the homes buyers have liked recently?

There are about ten homes that were listed under $50k.  These were all bank owned. The majority of the homes under contract are between $70k and $160k.  Let’s look at some details about a few:

1.  A 3 BR colonial on Wyandotte is waiting to close. It has a finished basement and while it could use a bit of updating (there is wallpaper too), it looks clean and tidy.  It is listed for $79,900.

2. A 3BR bungalow with 1 1/2 bath has a cute kitchen eating nook plus a full dining room.  It is listed at $89,600 and is located on Olive Avenue.

3. A pretty large 3 BR colonial on Parkwood (about 1700 sq. ft of living space) with a great, cleanly updated white L-shaped kitchen with good workspace. It also has a formal dining room.  Listed at $98,400.

4.  At the upper end of the listing price spectrum? A 3300 sq. foot home on Parkside (Near Lakewood Park with Lake Erie views) that is listed for $795,000. 4BRs, 5BA and updated in a striking way…the way you would expect for a home at this listing price.  Thre are homes in all price ranges under contract. 

How about homes that have sold in the last six months?  There were 159 single family homes sold since August (again, all these stats are for homes listed with area brokers so I can track actual sales stats). The average number of days on the market for these homes was 106. The average price per square foot was $66.  (So for homes under contract, the  price per square foot appears to be $66!)

There were nine homes sold over $300,000 and the highest sale price was $625,000.  There were also many between $105k and $169k.  I found it interesting also, that only one of the homes listed as ‘sold’ was actually rented instead of sold.  (So I did not include that one in the totals).

Looking for info on a different community or have questions about Lakewood?  Let me know!

3C

Let me say this about my Bellaire Puritas neighborhood.  Did you know the original West family owned tons of acres of property all the way down to W. 117th street? There is a pretty, L shaped red brick colonial on W. 138th St. (South of Lorain) which was the West family home.  Back in the day, when everything else was probably farmland.  That is where the West Park name originated.  We are not as far West as Kamm’s Corner with easy access to I 71 and I 90 (five min to each).  I say this because I really feel everyone in NE Ohio should check out Cambodge Du Cambodia. 

My office is a few doors away from the 2nd incarnation of Phnom Penh.  (In Ohio City).  It’s pricier and most of the people I talk to feel the food just isn’t as good as it should be.  I know I haven’t been tempted to eat there in quite some time.  When I found out the original creator/owner had departed, I understood.  And now I can enjoy the best by eating in my own hood?  Who would have thought! 

13124 Lorain Avenue (just West of W. 130th)

phone number:  216-252-6900. 

3C

My other couple are also Ohio ‘relocators’.  This time from the Akron area.  They want to live close to Downtown Cleveland so we are checking out the town house inventory for them. 

Our office phone lines (and my cell!) are still busy.  The activity indicated to me that even though it’s cold, we have an uptick in interest in buying homes.  (I have some new listings coming on board too, but those are fairly steady all year long).  So it was interesting to me to see this article from Crain’s Cleveland  on how NE Ohio home sales have steadily outpaced the rest of the State in the last 12 months.  Here is a quote: “… Unlike the rest of the state, NEOHREX total dollar volume rose by 11.2%, to $322.2 million last month from $289.9 million in December 2010.” 

  These figures include more than Cuyahoga County (Lake, Geauga, Medina, etc).  And they come from our computer multiple listing service (MLS)  called NEOREX.  This means homes sold through brokerages but it also means the stats are relatively accurate (compared to how others had been calculating stats that were not quite as accurate.)  I’m glad Crain’s is relying on the NEOREX figures because if  NEOREX says it sold, that means there are  sales records to back that up!

3C

The other thing to note is, lots of calls and Internet contacts from people in general who want to buy homes.  I love that so many of them are beginning their search so they can move in the Spring or Summer.  Makes it a lot less stressful for them than having to do it in a hurry when leases run out. 

Also finding a LOT of people who want to rent.  I had a single family rental listing in West Park.  By the end of the first week, I had over 60 calls on it.  And yes, it’s now rented (listed 9 days total).  It’s a seriously good rental market.  If you have a single family home that’s been on the market for a while and have the flexibility to list it for rent …and list it at a fair rental value….chances are you will find a tenant.  3C

At the tax sites, you will:
• Prepare an electronic federal return
• Prepare an electronic state return
• Prepare a paper local return
• Ask survey questions so we will provide better services next year
• Provide an opportunity to build assets
• Provide outreach for legal advocacy
• Provide access to sign up for other benefits
The ideal volunteer:
• Has prepared their own or others tax returns
• Is detail oriented, and are able to think through the process of filing a tax return
• Comfortable with using a computer and filing returns electronically
• Available to volunteer several times (but not for every time slot) between
January 24 and April 14, 2012
Tuesdays 3-7 pm
Thursdays 3-7 pm
Saturdays 10 am- 2 pm
If you are interested in learning more about the volunteer needs at Neighborhood Housing Services, please contact Darren Hamm at 216.458.HOME X318, or by email at

dhamm@nshcleveland.org.

I’ve learned that two full years of continuous daily exercise helps drop the weight.  By quite a bit!  My dog is a great companion, but also a big help keeping me walking, even if it’s raining or snowing. We walk an average of 2 miles a day (unless there is more than a few inches of snow).  There are even times now, when I want to walk and he looks reluctant lol.

I’ve learned a bit about tougher real estate deals.  Issues other people have spoken about that had not been part of my experience…until this year.  I’ve learned that you can have a few homes waiting to close and find them taking as long as the end of a Wagnerian opera  (if you’ve ever heard one, you get my drift lol).  I’ve had a lot of empathy for a few clients who had to suffer through short sales.  I’ve  worked short sales for years now, but for some reason, they seemed to stall in the Bermuda Triangle more often than not this year.  A few worked.  No matter how much I discuss how long it might take for a bank to say yes they accept the offer or no they do not, it still seemed to be painful for this year’s clients.  I have one client who moved here with a relative and they really, really need to move and get her settled.  I know that.  And still we wait.  I had one client move here from another state as well….she was much more patient than one would expect, but in the end, she had the ability to search for a new home and move into one that was not a short sale.  I still say short sales are not for the faint of heart.

I’ve learned that many more of my clients are people who are moving into NE Ohio, as opposed to people moving out.  I’ve seen more activity in Old Brooklyn this past year.  I’ve seen more activity in my neighborhood as well.  For a few years there, it seemed as if people had opted out of both neighborhoods (I’m in the West Park/Bellaire Puritas area).   This year, buyers were back. 

I’ve learned that social media is going to stick around.  That every few months there is a new flavor of the month: Google+, now something called Pinterest.  I find that Facebook is still my favorite social media site.  2012 also saw me go back to Twitter.  This year, I can tell, I will be spending a bit more time in LinkedIN.

I’ve learned that there are more good eateries in NE Ohio than I have time or resources to eat in!  But I will continue to try to test them all. 

I’ve also learned that the rental market is hot, no joke.  And no surprise if you think about it.  Some people need to rent after losing their homes.  Some need to repair credit and can’t buy either.  Some just don’t want to worry about owning, they want to rent.  Consistently seeing weekly requests for single family home rentals.

There are a few people with very intriguing home development ideas.  A  fellow agent is working on a plan to develop homes out of rail road containers here.  And his first set of plans is very cool!  I talked with a guy who plans on building a few really nicely designed town homes. 

And I’ve learned the best way to sell your home, no matter what, is to make sure it’s up on repairs, not overly cluttered (just heard the phrase this week: clutter eats equity…that is SO true).  And I’ve learned some heart wrenching stories from people getting their homes ready to sell because they are forced to (death in family, unable to keep up payments)  and their stress is palatable.

So it’s been a year of mixed experiences.  I’m tipping a virtual glass (clink) to all of you and hoping 2012 is measurably less stressful for NE Ohio, and for you and your families.  Peace.  3C