Cleveland Real Estate News

I meant to look up a 2008 comparison of number of sales when I did my post yesterday and did not.  You may find it interesting (at least I hope so lol).

During the same period (January through July) of 2008, there were 317 homes sold.  In 2009 there were 221. Quite a few more last year yes? But when I go through the seven pages of listings sold, you have to get through the first half to find homes that sold for more than $20k.  Most sold for way less than $20k.  Means these areas are experiencing less foreclosures put up for resale or going into foreclosure at all? Not sure.

However, also wanted to add this.  Just because a home is in foreclosure does not mean it is not a good deal.  And foreclosure prices are all over the map. Case in point: in 2008, between January and July, one of the highest priced sales for a home was $145,000.  This was a gorgeous old victorian style home on Ardoon Avenue in Shaker Square area. It had 5 bedrooms and three and a half baths.  But it was also bank owned.  I can imagine a gorgeous home to live in with all the nooks and crannies to enjoy, and the owners did not have to purchase at the high end of market value to get this home. 

The PD reported this week on The Coral Company and their Cedar Center development.  The Coral Company is approaching the change in how commercial financing is ocurring by dividing the project into four sections.  You can read about it here.   Peace Out – 3C