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

I have more clients requesting short sales this year than prior years, and the important thing is getting that lender contact so I can get a short sale package and at least know that we are working towards a common goal, not trying to push a rock up a hill without the possibility of a good result!

One agent from Virginia is quoted in the Market Watch article. She had a client who offered  over 300k on a home and the lender rejected the short sale, preferring it go into foreclosure.  They determined it would be better for them financially to foreclose.  Well, it sold a while later for much less.  Believe me, this has happened to my clients as well. 

The article also points out that the short sale process has ‘sped up’ a bit.  This is true, but not across the board. Many lenders, for example, are now doing their short sale or foreclosure work using on line transaction systems.  This helps a lot (and my company, Howard Hanna, is now using a similar on line tracking system that allows for faster responses on how things are progressing).  So yes, this has helped a lot.  But it still doesn’t apply to all lenders, and it still does not guarantee the short sale offer will be accepted.  But if you are game, and willing to wait, and also to accept that in the end you might be back out looking for another property, you might be a good short sale buyer! 

3C

Life in real estate in Cleveland since I blogged has changed.  The tax credit allowed tons of people who were waiting for the right time to buy their first homes, to do so. It also allowed a number of people to buy a new home and still get a tax credit of their own.

Some of the changes are small but significant to me.  I live in zip code 44111. Home buyers have finally resurfaced for this area. My partner Melissa and I had several buyers and listings and sales in the past four months. We even had a listing in 44111 sell after the tax credit.  Since home sales are one of the benchmarks of a vital neighborhood, this made a lot of us breathe a sigh of relief.

I’ve developed a keener sense of the neighborhood compositions. Cleveland is not like some of the other cities where people move in and out. Our neighborhoods are full of people who grew up here and want to stay here when they go out of their parent’s nests and  have a place of their own.

I spent some time going over home transfer records in all of Cleveland proper.  I started doing it because I wanted to see where people were coming from, when they purchased a home in a particular neighborhood.  As it turns out, many homes are ‘willed’ to relatives.  Many people move five or six or ten streets from their childhood homes. Some communities have developed a strong community based on their country of origin.  That is pretty cool too, and is also a traditional way for population placement, since they began keeping records. 

And I still feel lucky to be involved in real estate.

The weather has kept people in a good mood, at least that is my observation. Since I last posted in January (!), we dodged a serious winter, and have basically enjoyed warmer than normal temperatures. As I walk the dog every day, I notice how wonderful the weather has been to the flowers. Hydrangea’s are in their splendor this year.  One of my neighbors has Columbines lining a six foot flower bed.  They were bedazzling. 

Now, if only LeBron had stayed here.  I am not mad at him.  But I am sad and not sure it was the best decision for him.  But, he’s the only one who can make the decision.  The Cavs will have a tough time rebounding.  But it does get back to my long standing belief that a city can’t afford to put all their eggs and hopes in one basket…sports.  I’m happy to see the tech world growing here, the medical community thriving (including the medical neighborhood expansion around The Clinic). 

I’m impressed that we have not lost our creative spirit here in NE Ohio.  We can survive without LeBron.  Oh, and we do have some Independent candidates for the new County positions. 

Regular posts to resume before you know it lol

Peace Out – 3C

Here in Ohio, we already have laws passed to help protect buyers. Every seller should be filling out residential property disclosures. The disclosures are created by the State of Ohio. They ask questions regarding structure, mechanicals like heating and electrical systems, water intrusion, roof issues.  Sellers are asked to cover the last five years of ownershp and disclose any issues that have arisen.  Did your basement flood and you had roots cut out of your basement clean out drain in 2006? Then disclose that you resolved the issue but that it did in fact happen.  You get the picture.  I think what sellers can sometimes miss is the main point about who is protected by being truthful. The buyer gets more information about the house for sure.  But the seller is given more protection as well by being truthful so the buyer knows what they are getting when they purchase.  Meaning they are less likely to try and sue you afterwards!

Often, a for sale by owner seller doesn’t realize these forms exist.  So if you are selling your home on your own, you might want to get this form from the State Department of Commerce and give yourself extra protection. 

I was surprised reading the article today that there are still states without disclosure laws.  We can be glad we are protected here.  There are always people who try to be less than truthful, but my seven year experience has proven that most sellers disclose issues in a fair and honest way. 

Here is the Yahoo! article  in it’s entirety.   Peace Out – 3C

There are 226 single family homes on the market in 44105 as of today. There are 95 homes under contract (12 are contingent and waiting for inspections and mortgages to be finalized and 83 are pending sales or waiting to close and transfer title).

For the homes currently under contract (the above 95), the average list price for the contingent 12 was $12,033 and the 83 pending, a $15,685 listing price.

The highest price sales were four homes in Millcreek (both town home and detached single family) between $129,000 and $198,500. The highest sale price for a home in the other areas was a single family for $59,900.

The total number of homes sold in 2008 in Cleveland’s 44105 was 468.  446 of them sold for $50,000 or under.

There are 114 multi-family homes for sale in Cleveland’ s  44105 zip code today. 102 are doubles/duplexes; the rest are three and four family homes.

There are five contingent sale homes and 31 pending; that makes a total of 36 multi-family homes under contract currently.

During 2008, 200 multi-family homes sold. The highest sale price was for a double on Forman that sold for $75,000.

Kate, I hope you find this useful, and if you need any thing else, let me know!

Peace Out – 3C

All but

Are you single and looking to buy a house or condo? As I mentioned in a post, there is a nice collection of Downtown condos for sale at very reasonable prices. But I’d like to focus on one. For $79k you can get a two level condo that faces the Lake at the edge of the Warehouse District. It’s considered an efficiency but in reality there is a separate bedroom on the second floor. It has all the exposed pipe and brick and mortar textures you’d want if you were buying a more expensive loft or Downtown condo. Yes it’s small but very cool. If it was in New York City it would probably sell for a half a million dollars, no joke.  But it’s only $79,000.  $79,000 in the Warehouse District! I wouldn’t be surprised if the monthly mortgage (even with taxes and maintenance fees) isn’t less than some people pay in rent every month.

The second place is a single family home on Bridge a short walk to Gordon Square or Gypsy Bean and five minutes from the West Side Market. I held it open yesterday. It was built in the late 90s, still has a few years tax abatement left on it. The home has over 1800 square feet of finished space, a really cool antique-like staining of the hardwood floors, french doors, a huge deck to a beautifully landscaped backyard. It is also very reasonably priced at $149,900.

I sold a home to a client who became a good friend.  She bought a lovely home but I couldn’t help thinking as I held the home open yesterday that this would have been a perfect home for her.  With 1800 + square feet you don’t have to be single to buy this home, but it’s priced well for a single income purchaser.

The best part about both of these homes is they are very accessible to either the RTA bus lines or the RTA transit stops.

There are other really nice homes in move in condition that are priced very well for first time home buyers. So if you want any more information about these homes or the ones I described, let me know!  Peace Out – 3C

It could have been  the rejuvenation I felt after having almost three full days off in a row…..I don’t even want to think about how long it has been since that happened. Regardless, I felt as if I accomplished a lot today. Even though I skipped my regularly scheduled Tuesday morning office meeting (I know, my bad lol). 

First, I checked out a few homes. Previewed two not on a brokers open but vacant (these were in West Park). Then I went to see a home at an actual Brokers Open on W. 42nd Street (Orchard Park). One of the Eco friendly homes built with an added enticement of very, very low fuel bills each month.  In case you’re interested, lunch was served -stromboli from Gypsy Beans. A little chicken, some mushrooms that gave it a nutty taste…all in all very, very tasty which is not surprising since Niki at Gypsy is one hell of a chef).

Then I headed to the office to make phone calls. Left messages for a few seller clients to see if they could update me on some of the projects we are working on.  I called one client in Fries & Schuele to let them know we have two showings tomorrow. Then I went through my planner to check up with a few buyers to see when they wanted to look at homes. 

I received a call earlier this morning from a gentleman who was inquiring about three different town house complexes, two on the west side and one on the east side. I made some calls for him and then got back with the information he wanted.  Now it was about two o’clock. I got on line to do some comp work – I have a woman who is out of town (California) and has a house to sell here. I have an appointment to go see it but needed to do some background work;  how many homes have sold around her home, for what price, what  were the amenities (bedrooms, sq. footage, etc), how many other homes are listed at the moment in that area and for what price.  And of course I checked the tax records to make sure she was listed as the owner (yes, this has actually been an ‘oops’ a time or two).  Now it was 2:15 pm.  She is not going to be happy with the sale prices over the past year and since she now lives in California, it might be an even bigger shock. I’ll see what transpires after I look at the home up close and personal.

I checked my emails again, had a response from a client who has an investment property listed with me. She provided details about leases and rents so I could be ready to present the information to any buyer clients.  I typed it into more of a spreadsheet form and printed it off. I called an architect building a few homes to get more details on his project.

Now it was almost 3PM.  I called a few people who had for sale by owner  listings.  Some were in areas where I have buyer clients looking to purchase, so I asked a few questions to see if I could better determine if my clients might want to see the homes.  I also spoke to a few other for sale by owner clients to see if I could be of any help.

Now it was a bit after 3PM and I wanted to cruise a neighborhood. (No, not that way!) I headed off to the Clifton Baltic area to see if there were any homes not listed for sale that might appeal to my client anyway.  This may sound odd but in reality, sometimes people don’t list because they think it’s not a good market time to list. But my buyer has specific needs and if I can find a house, even if it’s not listed, I’ll call or knock on the door and beg LOL.  I came up with about ten homes.

I came back to the office and looked each of the ten  homes up on line to find out more details about square footage (important to my client) etc. I’m going to pursue four out of the ten.

Now it was 4:30 pm and I went back to checking emails, made a few more calls. Then checked the computer listing service to see what new listings or price changes had ocurred today. It took about an hour for all of this to happen. I made appointments for home showings.  And before I knew it, it was 5:45 pm.  I had an appointment at six. I closed up shop at the office.

My appointment was wonderful, especially since it was at The Market Avenue Wine Bar  (yes, sometimes it pays to be me   We got the skinny on the latest news. Talkies coffee shop had their last day over the weekend. The M A Wine Bar is moving to that location. They are hoping the work to prep the new space is done by the end of September so they can move in.  They will be fully operational at their current location in the interim, at least until the end of the month.

The evening was wonderful, my Wine Bar companion was delightful and informative and we pretty much covered a multitude of topics  about the neighborhood and houses etc. I think we left fairly close to 9 PM. As I was driving home I was taking in the evening; the weather was to die for, no?  Every day is different, especially if it’s a day when I’m showing homes or working on issues involving a home closing (like an inspection or title and mortgage details that need to be addressed). What’s really cool about my job is, sometimes I can hang at Edgewater Beach and make client calls with the best view in the world.  I get to go to all the neighborhoods and see what new businesses have opened, what homes are for sale. As for today, it was all good. Peace Out – 3C