Cleveland Real Estate News

Many of you are looking to take advantage of the Federal Tax Credit that allows first time home buyers to get up to $8,000 tax credit, depending on price of their home.  Could the credit be extended? Sure, but as of now, it expires on November 30th.  What does this mean? It means you have to have taken posession of your home by November 30th.  We are not down to the wire…yet.  It’s better to allow yourself time to get your ducks in a row and not wait until the last minute.

1. A mortgage lender can help you figure out a good monthly payment for you. It helps you know what price range you want to focus on for your home search as well.

2. There are lots of homes for sale, which means there are more homes in move in condition, or needing only things like a fresh coat of paint in the bedrooms.  Nice for first time buyers who don’t want to worry about having to learn everything about home maintenance in one  month!

3. Research your neighborhoods.   Start to figure out what is important to you.  Walking distance to shops or RTA?  Near parks?  Within fifteen minutes of where you work so you are not a slave to your car?  A tree lined street with big yards or a cozy low maintenance yard (meaning easy mowing lol).   These are all questions to begin sorting out, so your home search is a bit easier on you.

For example, I browsed through Greater West Park and Fairview home sales in the $100,000 price range. I did  a six month search, for single family homes that might have appealed to a first time home buyer.

People live in Fairview because of the recreation, both natural and man made (their new rec center is fabulous).  Another draw is a  suburban life style without being too far from downtown Cleveland. I picked two homes to feature here; both sold in the last six months in Fairview.

One 3 bedroom 2 bath colonial on Westwood sold for $90,000. It has a vinyl exterior (low maintenance), fully fenced, a fireplace for ambiance, and a lovely 170 foot lot.  It needed a/c and some interior room paint, but was otherwise in move in condition.

Also sold was a 2 bedroom, 2 full bath ranch on Sycamore. It is also fullyl fenced and has an even deeper lot …. 190 foot! It was sold with a home warranty (which can give a first time buyer peace of mind should a furnace or water heater need repair or replacement). It also has an aluminum exterior for low maintenance.  This home sold for $98,500.

There are six homes for sale in this price range in Fairview as of today.

The Greater Westpark area has always been a popular place to live.   You have Kamm’s Corner pubs and shops, a great library, tons of neighborhood parks, and a pretty, well kept housing stock.

There was a vinyl sided 3 bedroom colonial on Ernadale that sold for $90,000. It has a front and a back porch, separate dining room, newer windows and mechanicals and a two car garage. It also has a nice sized lot (for those who don’t want more to mow!) of 130 feet deep.

Also sold was a 3 bedroom brick home on W. 157th.  It sold for $99,500. It has been totally remodeled (plumbing, windows, furnace, a/c, kitchen, etc).  Do you usually associate deep yards with Cleveland homes? Maybe you don’t realize this, but it can happen! This home has a 242 foot deep lot!

There are currently 56 homes for sale in the Greater West Park area for around $100,000.