Thursday, July 5, 2007

Cleveland Housing News: Renting Or Purchasing, My 2007 Clients Have Their Heads on Straight

I don't just find people homes to buy, I also help them find rental housing. I talked about my client relocating from the Great Plains and wanting the vibrancy of the City and the character of her architecture. It finally hit me today. Young or my age (ahem lol), all my relocation clients are leaning in the same direction.

Here is what they have wanted, collectively: to be close to Downtown, in a neighborhood that provides amenities that fight off boredom: shops, galleries, restaurants, public transportation, and a view of Cleveland's natural beauty.

Some have wanted specific things: loft-like living with lots of windows. Some of the newer developments, like Stonebridge for example, can be a challenge in this respect. Many of the bedrooms in their floor plans are interior with no windows. The Federal Knitting Mills Apartment Complex is like that too. The Knitting Mills has a few floor plans with bedroom windows, you just have to be lucky and have one available when you are ready to rent.

What I love about the Cleveland housing market is affordability. You can spend $1500/month and upwards, but you can also spend less than $900/month and get a loft-like 2Br apartment with great character, garage parking, in suite laundry availability and sometimes a fitness center.

My buyers have been focused on City living as well. In fact, I am in the process of sending out letters to homeowners in Ohio City because I have a client who only wants to live there, and we can't find the right home for her as of yet. It's that pesky $300k and up price point that gets in the way.

Here is what I am finding:

1. fiscally responsible buyers and would be tenants (let's call them clients it's easier lol)

2. clients who want to be near to their jobs; public transportation or walking are first choices; if that fails, then ten minutes or less to work. Is this smart thinking or what?

3. I have had six clients this year who are in their first jobs (some just starting) who eagerly embrace the City and parking their cars unless absolutely necessary.

4. Four of of the six are from out of town. I have one new client so technically that makes five out of seven, although we have not yet 'hit the streets' together, so far we are doing our work via email.

What excites me about this is the hope that it is a lasting trend. It definitely feels like a shift in thinking. Just like the Ohio Hub is starting to make so much sense in terms of our not so distant future, RTA and close-in living are defining needs now. It almost makes me giddy to think about it! Peace Out - 3C

1 comment:

Bonnie Erickson said...

I, too, moved to the center city. When we made the move my husband's job was walking distance. When he was laid off and required to drive 7 miles, it was a great disappointment. He spends his commute time running errands for the family! ;-) I love the energy of downtown St. Paul although they do close shop pretty early. I love sitting on the front porch and seeing the State Capitol buildings. The neighbors are tremendous and everything is close by. I wouldn't go back to the burbs without much protest!