Wednesday, September 26, 2007

Las Vegas Mortgage Lender Calls Other Lenders To Action: Help With Note Modification

Aaron Gordon is a mortgage lender in Las Vegas. I don't know him, but I just read one of his posts and it inspired me to link to it. He is asking all mortgage lenders to do some pro bono work and help people who might be upside down in their mortgages by calling their lenders for them and asking for a note modification. Aaron's post is here. I found out about it through a post I wrote asking if the recent efforts by Save The American Dream could actually help (they are calling for a 2 year ARM moratorium).

Lou Tisler of NHSGC pointed out that people are reluctant to do it on their own. Aaron points out that instead of calling their original lenders, they are calling him and others like him to refinance. So he helps them. For free.

Read Aaron's post! I plan on calling all the lenders I know personally tomorrow and asking them if they are doing this. Peace Out - 3C

Cuyahoga County Economic News: A Medina Valpak Entrepreneur

Back when I was living in Maryland and working three different part time jobs at a time, one was for a coupon book similar to Val Pak. I enjoyed it because I was able to focus on local businesses and meet some darn good entrepreneurs. We had stiff competition from Val Pak.

I saw this article on CrainsCleveland.com about ValPak and thought about why a local Medina gentleman has decided to buy a Val Pak franchise. He said his prior company had good client response from ValPak and they were a long standing company - two reasons why he 'bought in.' Reminds me of the Norelco commercials (I think it was Norelco!) where the guy would say I liked the product so much I bought the company. I'm wondering what our Franchise King Joel would say about this? I have to admit it's been almost two decades since I was in the coupon business -it was interesting to get an update on how it's working. According to the Crains article written by Marilyn Miller, Valpak is the sixth largest media company in the U.S. Well what she really says is they call themselves the sixth largest lol. If you are looking for a job, maybe the new Medina franchisor is looking for sales reps?

Peace Out - 3C

Tuesday, September 25, 2007

Maryland's Ambitious Plan to Improve Their Railways Should Inspire Us

Yes, Maryland starts from a position of a solid and always improving job base, but the plan outlined by Maryland's Governor should inspire us to be vigilant (imho) about our own 3C Corridor Plan. The Washington Post article about it is here. They are running a bit on faith:

"....This is a very ambitious concept, and we don't have money in the bank to pay for it. But we have a reasonable expectation that these are cost-effective ideas that would bring a lot of transportation benefit, and we'll find the money as the years go by,..." but it's a thirty year plan to better connect Baltimore and Washington and turn the Rail System into a full fledged service, not one that enhances the rush hour commute (although there are only a few hours when it's not rush hour there, but I digress).

Henry Kay is an administrator with the MD Transit Authority and this quote interested me too:

"....Kay said the state is considering private development of stations and parking lots to generate revenue for the expansion...." - Something that could definitely help us with the 3C Corridor Plan, privatizing the Stations. Please contact your Senators, we need support for SB294 to keep our own economic future moving ahead. I am not always on my soapbox but this issue seems so important to our economy. And this article on Maryland's plan is a good read. Peace Out - 3C

Monday, September 24, 2007

Cleveland Home Owners In a Bind Take Note: Neighborhood Housing Services of Greater Cleveland Can Help

Lou Tisler of Neighborhood Housing Services of Greater Cleveland (NHSGC) made an important point on my latest post on short sales. Many of us know we should 'call our lenders' before it's too late but we are still too timid or worried to do that. NHSGC can do the legwork for you.

His second important point was that you should never pay anyone to be the intermediary, to help you with your mortgage issues. Lou has sent me a press release on NHSGC and I'm going to post it here in it's entirety. Please call your lenders. Or please call Lou at NHSGC.

Ohio Housing Finance Agency Adds $3.1 Million
to Ohio NeighborWorks® Foreclosure Prevention Tool Box

New Fund is to Assist Middle Income Homeowners
Neighborhood Housing Services of Greater Cleveland Creates New Loan Product to Fight Foreclosures in Cleveland
Cleveland, Ohio – Neighborhood Housing Services of Greater Cleveland (NHSGC), part of the Ohio NeighborWorks® Foreclosure Prevention Initiative, will distribute $3.1 million in flexible grants from the Ohio Housing Finance Agency (OHFA). In combination with an investment of over $3 million from NeighborWorks® America, this is a much-needed foreclosure prevention boost in Ohio.
The OHFA grant will assist middle income homeowners and provide up to $3,000 in a zero percent deferred soft second loans to borrowers facing foreclosure, with a possibility of going up to $5,000 depending on the amount of the mortgage payment. Overall 12 organizations throughout Ohio will use the funds.
The OHFA funds, together with the previous award of $1.5 million from the Office of Housing and Community Partnerships (OHCP) and the NeighborWorks grants, are expected to enable the Ohio NeighborWorks® organizations to assist over 1,500 Ohio families avoid foreclosure.

“This is another tool in the toolbox that will help us rebuild Cleveland communities,” said Lou Tisler, executive director of NHSGC, the organization administering the OHFA funds. “We were missing a way to help people who are just getting by but are behind on their mortgage and on the verge of getting into trouble. Now NeighborWorks organizations can help more low- and middle-income borrowers, which is important because this problem is spreading into middle-income neighborhoods.”

NHSGC educates homeowners through financial literacy, homeownership education and counseling, working with the Homeowner’s™ HOPE Hotline -- 888-995-HOPE (4673) -- to connect homeowners at risk of foreclosure with HUD-certified counselors.

“OHFA generally focuses on first-time homebuyer products, so this is one of their first sustainability-focused products,” said Tisler. “Coupled with a refinance product they recently made available, OHFA is enabling NeighborWorks organizations in Ohio to develop the cutting edge products that will help all levels of homebuyers get out of this crisis.”

Sparked by 1978 legislation, NeighborWorks America created the NeighborWorks network of community development nonprofits charged with closing the homeownership gap; improving financial literacy; rebuilding and repairing properties; developing affordable multifamily units; and, using community development strategies to improve safety and build wealth. In 2007, NeighborWorks America will provide over $75 million in grants to its national network of 244 nonprofit organizations operating in nearly 4,500 communities.

The need for NeighborWorks organizations has never been greater. High quality, affordable rental housing is needed to build healthy and sustainable communities. Personal debt is rising among consumers. Mortgages are becoming increasingly complex and risky, which means homeowners are becoming progressively more susceptible to foreclosure. And, stubborn wealth gaps persist.
“As stewards of taxpayer dollars, NeighborWorks ensures our investments are working in ways that truly make a difference,” said NeighborWorks America Great Lakes District Director Paul Poston. “We thank Congress and our other private, philanthropic and public funders who make our work to empower consumers and strengthen neighborhoods possible.”
About Neighborhood Housing Services of Greater Cleveland
Neighborhood Housing Services of Greater Cleveland is not-for-profit community development corporation incorporated in 1975 to promote investment and revitalization of communities in Northeast Ohio As one of the original chartered members of NeighborWorks® America, a network of over 230 organizations working in nearly 4,400 urban, suburban and rural communities nationwide, the mission of Neighborhood Housing Services of Greater Cleveland is to provide ongoing programs and services for achieving, preserving and sustaining the American dream of homeownership. www.nhscleveland.org.

###

Lou Tisler
Lou Tisler, Executive Director
Neighborhood Housing Services
of Greater Cleveland
5700 Broadway Avenue
Cleveland, OH 44127
216.458.HOME (4663) ext. 12
216.458.4672 fax
Email: ltisler@nhscleveland.org


Sunday, September 23, 2007

Cleveland Neighborhood News: The Warehouse District Scheduled For Some Changes

My open house did not turn out as planned today.....the keys didn't work! And my client is in California so......time to read up on the news. Turns out The Planning Commission approved some upgrades for The Warehouse District. The change that should appeal the most to District residents are the parks being created including South of Lakeside -- always exciting when we start utilizing our key natural resource...The Lake. Another change is to add taxi stands to the District. Now to get taxis there. Cleveland needs to be more proactive about taxis - we all have horror stories about them not showing up, even if we try to call for one. Anyway, here is the newsnet5 blurb about it.

And here is fellow blogger Tom Breckenridge's post about it. For the first time since I lived in Maryland I've actually hear a design plan talk about a sense of place. There truly is a vibrancy to the entire Downtown area these past six months. Now we need a bookstore :=) Peace Out - 3C

Saturday, September 22, 2007

Cleveland Housing News: Lead Paint Abatement Important, Especially For Children

It's become easier, as a Realtor®, to recognize homes that might need to get rid of lead paint. Normally our homes have been painted, layer upon layer, so the original lead paint job on a 1920 Era home is sealed safely away. But what if the paint in the room is peeling? Alternatively, if you have older double hung windows that get opened and shut every day as the temperatures rise and fall, the original paint jobs could be peeling against the friction of the opening and closing of these windows. Kids love to look out the window and the youngest ones love to eat whatever is not nailed down. Including paint chips. Another problem area can be a closest or storage area under the eaves in an attic. Sometimes these areas have clearly not been painted for decades. It's a good idea to put a few coats of paint on a closet or attic storage area just to be safe.

The Cuyahoga Co. Board of Health reports that they have received a $7 million grant from HUD to take care of already identified lead paint issues in NE Ohio. About 1300 Cuyahoga County children experienced lead poisoning in 2005. This grant will allow you to apply for monies to repair your home and you can read about the criteria to get the money here.

Sellers of homes in Ohio are required to fill out a Lead Paint Disclosure form to alert prospective buyers of any lead issues that may exist before they purchase. Buyers also have the right to a lead paint inspection prior to purchasing, in addition to a general home inspection. I have to admit, I have never had a buyer opt to get that inspection.

The City of Lakewood First Time Home Buyer Program utilizes a HUD inspection as part of their mortgage lending and purchase process. Peeling paint must be scraped/patched and repainted before their inspectors will sign off on the inspection. I had a home buyer purchasing a Lakewood home with this program and the house was neat as a pin and very well cared for. But there were porch railings and garage walls that were peeling. We had to get that corrected.

If you are buying a home and you will have young children inside the home when you move in, do you have newer windows? Do you have the older double hung rope/sash windows? Please be sure to look at the condition of the window sashes so you will know what you are dealing with when you move into your new home.

You can also go here to the HUD website and read more about keeping your home safe from lead paint poisoning issues. Peace Out-3C

Friday, September 21, 2007

The chair for the argumentative side in all of us


It's been a long week. I was trying to find a Thermador oven I saw advertised in a magazine at work today for almost 7 grand; to show it to a friend of mine on AOL. Long story short, I wound up on a site called Born Rich. It fascinated me. And you have to see the entire write up about the Argument Chair pictured here - maybe we need one in our office for buyers and sellers who can't come to terms! :-) Peace out 3C

Wednesday, September 19, 2007

A Short Sale Could Save You From Foreclosure

Short Sales are a valid alternative to getting completely mired in the foreclosure process. The important thing is to not ignore notices from your bank or lender; call their collections department immediately and see what kind of alternatives you have.

I love it when someone explains the process so well that I don't have to. One of my favorite bloggers is a Realtor® in Minnesota and she explains the short sale issue perfectly here. Read what Bonnie Erickson has to say; it might help you avoid getting into a real mortgage fix. Peace Out-3C

Rail Freight Enhancement Could Alleviate Traffic Congestion

The Heartland Institute did a report on traffic, freight and otherwise. They are a group that focuses on transportation issues. In this report they outline the value of increasing rail usage for freight carriers nationwide. One of the benefits is traffic congestion. Another one is wear and tear on the highways.

How many times have you been on a highway to find that 18-wheelers are slowing traffic considerably? They need to be on the roads (I tell myself), because we all need our goods and services. But it can get aggravating. When I lived in the DC area there were almost daily gridlock situations due to heavy truck traffic. The NJ Turnpike even has separate lanes for trucks for this reason.

They point out that a National focus should be improved rail quality because......

".... there are signs the growth cannot continue with the nation's current rail infrastructure. Freight train average operating speeds dropped from 24 miles per hour in 1990 to 21 miles per hour in 2000, reflecting at least in part constrained capacity, according to Cox. The problem is especially bad in the Chicago and Los Angeles areas and along the East and West Coasts...."

They also discuss the advantage to passenger rail service...but Wendell Cox, a Senior spokesperson for the Heartland Institute, feels that without continued new rail services, a concentrated effort should be made to at least improve the rail services from a freight carrying perspective. The article is really worth a read. Peace Out - 3C

Sunday, September 16, 2007

Cleveland Real Estate Trends: More Stats on the West Side

Two more 'computer listing oriented areas' meaning they combine communities like Clifton Park and Bellaire Puritas. These stats are for tge number of homes sold between April and August for 2000 through 2007. The dollar amount is the average sale price during these months.

Bellaire Puritas, Westtown, Clifton Park

2000
209 Total homes sold during those months
$77,439 Average Sale Price

2001
177
$85,169

2002
185
$87,767

2003
218
$82,661

2004
232
$88,042

2005
215
$85,649

2006
180
$93,409

2007
$197
$70,425

Bellaire Puritas,West Park

2000
180
$105,461

2001
187
$106,713

2002
206
$107,819

2003
200
$114,527

2004
241
$112,630

2005
221
$112,921

2006
186
$112,234

2007
177
$101,995

Peace Out - 3C

Friday, September 14, 2007

Cleveland Housing Sale Trends 2000 to 2007

The last seven years have seen spikes in sale prices and declines on Cleveland's West Side. Some of the stats are interesting. In the area that includes Ohio City and Tremont, there were more sales in 2007 than any of the other years; the amount of money on average that sellers got for these homes was less than any other time. In general, bank owned/foreclosed properties play a part in these statistics because in each of these areas, there are homes selling for prices way below normal market prices. Anyway, here are the stats, and again, they include all homes sold with area brokerages. These are numbers of homes sold and the average sale prices for April through August of each of these years.

Old Brooklyn/Archwood Denison/Memphis

2000
163 Homes Sold
$85,460 Average Sale Price

2001
167
$92,295

2002
220
$94,920

2003
181
$98,929

2004
201
$102,547

2005
175
$102,921

2006
172
$92,338

2007
159
$80,109

Ohio City/Tremont/Clark Metro/Detroit Shoreway

2000
147
$66,596

2001
150
$76,509

2002
156
$74,547

2003
180
$85,592

2004
178
$79,255

2005
174
$92,579

2006
196
$79,362

2007
222
$65,719

Peace Out - 3C

Thursday, September 13, 2007

Cleveland Economic News: A Ferry to Ontario

You've probably been following this idea. The Plain Dealer's Maggi Martin reports today that an ombudsman group of NE Ohioans were in Canada this week and that Ontario has agreed to fund a rather expensive study regarding the validity of a ferry (cargo and passenger) from our Lake Erie shores to Ontario. Places like Ashtabula, Cleveland and Mentor are vying for the honor. The article says Ashtabula is ahead of the game because they already have the proper docking system. Cleveland's Port Authority is lobbying heavily. You can read about it here.

Maybe it's just me, but I say let the Ferry go to whomever can do it most cost effectively. It will help our Cleveland economy no matter where it is, imho. We can host the 3C Corridor rail plan!
Peace Out -3C

Cuyahoga County Real Estate 'Season' Sales Trends 2000-2007

We all wonder about housing sales trends since the turn of the century. As a Realtor® I can get those stats. Real estate 'season' is typically thought to begin in April and go through August. So those are the months I've picked to study during the past seven years. Here are three neighboring communities; I'm listing total number of single family homes sold and the average selling price. (Stats from homes listed with area brokerages)

Lakewood
2000 206 $168,103
2001 214 $153,146
2002 184 $148,887
2003 226 $161,878
2004 203 $164,912
2005 209 $176,748
2006 211 $178,010
2007 173 $171,071

Rocky River

2000 101 $203,169
2001 110 $227,596
2002 95 $283,983
2003 128 $260,710
2004 108 $301,587
2005 103 $303,567
2006 102 $304,165
2007 100 $266,933

Westlake

2000 135 $288,175
2001 148 $279,843
2002 139 $283,267
2003 173 $325,431
2004 147 $320,681
2005 157 $363,994
2006 136 $336,279
2007 115 $347,144

Angie Lau did a report a few months back for News Channel Five about hot and not so hot housing markets. She said Westlake homes were a great investment and did not follow the trend of lower prices for homeowners. These stats seem to back her up. While the 2005 average sales price was higher for Westlake ($363,994), it's clear that prices basically rose over the past seven years.

The total number of homes didn't vary much in Rocky River over the seven year period. And Lakewood sales seemed to be the flatest during that time frame. The lows are not drastic in any of these communities. I'll do Cleveland's West Side tomorrow (Friday). Peace Out - 3C

Monday, September 10, 2007

The Bratenahl Housing Market in 2007


Yes, this is a serene way to wait for a bus; the gorgeous tiling and textured surfaces are part of a gate surrounding one of the many gated homes in Bratenahl. I showed a few condominiums in Bratenahl Place yesterday and was impressed. First, it's not easy to purchase a home for under $150k in Bratenahl, yet these condos are just short of 1600 square feet of living space and are priced well under $150,000. The maintenance fees might give us all pause.......the three I showed were approximately $950/month. That does cover all your utilities. To find out what else is covered, you can check the Bratenahl Place website here. One cool feature at this complex is a 17 acre hiking trail. Not to mention the view of Lake Erie.

So how have homes been selling in Bratenahl? Here are stats from January 2007 until today. Once again, these stats relate to homes listed with area brokers on the Multiple Listing (computer) Service:

Five single family homes have sold between the prices of $157,500 and 1.5 million dollars. The two homes sold for less than $160k were on the market for less than a month; not surprising! The average amenities were: 3,612 square feet of living space, and $139/sq foot to purchase. They also averaged four bedrooms and four bathrooms.

The condos? Eight sold since January between $120k (one condo) and $500k. This time, the home that sold for $500,000 was on market only five days.

You can read about the Village of Bratenahl here. The Village's recreation center offers things like kick boxing and Pilates; and they apparently opened up an outdoor coffee shop on the premises. Very cool. If you have never driven through Bratenahl, take a gander. It's lush and green (at least until Winter!) and the architecture on the homes may just blow you away. Peace Out - 3C



Saturday, September 8, 2007

The Consumers are Speaking! Check out 'Bring Back Doubles' Web Site

I was tracking a link to my blog post, and something miraculous occurred. 'Loyal Giant Eagle shoppers' (their words) bought a domain name and established a grassroots website called 'Bring Back Doubles.'

They detail several points about why they are upset with G-Eagle. Here is one excerpt:

".... We are not convinced that manufacturers are "moving toward the trends of lower coupon usage."Coupons are the manufacturers bread and butter. They are incentives to get consumers to try new products and fall in love with old ones. Even if coupons from Sunday papers are not redeemed, they serve as a means of product advertisement for the Sunday paper. Also, over the past few years, internet sites such as www.coupons.com, www.coolsavings.com and others have popped up. The Internet has also brought about coupon coordinating sites such as www.TheGroceryGame.com and NorthEast Ohio Couponers which help consumers make the best use of their coupons. These types of sites are gaining momentum. The Grocery Game, a paid subscription coordinating service, had sales of over 6 million dollars in 2006 and recently branched out to offer coupon services to people living in the United Kingdom. Giant Eagle claims that consumers have lost interest in redeeming coupons. This is interesting because while the grocery chain has ended double coupons in the Akron/Canton/Cleveland areas, Giant Eagle actively allows coupon doubling in regions such as their Columbus area stores...."

This is not just a slapped up website I am truly impressed. Please give it a read.

And I would be remiss if I didn't send you to their 'what you can do to help' section.

A big hat tip to the group! Peace Out - 3C

Giant Eagle Reverses Their Decision To Eliminate Double Coupons...But Don't Get Too Excited

I wrote here about their plan to eliminate the double coupons. Sometimes it pays to stay up late -- WKYC reporter Dick Russ writes that Giant Eagle came to their senses and as of tomorrow (well, today), you can double your coupons again!

This is not a permanent reversal however.

Store executives claim to be responding to customer complaints that there wasn't enough notice. So now you can double through September 30th. Would love to know the statistics...you know, numbers of coupons actually redeemed for double discounts on a weekly basis.

In any case, you still only have a few weeks to do it, then I guess Giant Eagle will revert back to their original, non-consumer friendly plan. Peace Out - 3C

Thursday, September 6, 2007

Somewhat Housing Related But Not Really.....'Little Boxes'

Apparently the show Weeds has decided the song 'Little Boxes' is their theme song and they invite different artists to sing it. Here are eight different versions. For those of you old enough to remember the song (or maybe you heard your parents sing it lol), it's a hoot! I like all of them but maybe The Shins win. Not sure. What do you think? :-) See, I couldn't just rant and leave it at that could I?

A hat tip to Cleveland.com for this delightful entry. Oh, and on the same page you can watch the You Tube video of our own Devo's first new song in 17 years. Night!

Peace Out - 3C

Wednesday, September 5, 2007

Cleveland Economic News: Giant Eagle Does it Again

Newsnet5.com reports that Giant Eagle is ending their double coupon program in the Cleveland and Akron areas. They claim it's what consumers want. I seem to be on a constant Giant-Eagle rant, but I can't help myself. It's what the consumers want? Must be a response to the fact that we moved from first poorest city to the rich ranks of fourth poorest city.

I guess they need all that extra money they save by not paying out for double coupons to build the new Giant Eagle at W. 117th and I-90; you know, the one no one will be able to walk to?
Peace Out - 3C

Tuesday, September 4, 2007

Housing Trends: A Serious 2006 Federal Reserve Bank in Cleveland Study on Home Sales Trends

My last 12 months in real estate have been like a roller coaster: frustrating, sad, satisfying and busy year, all wrapped up in month-to-month cycles. I was aggravated at the media talk about housing bubbles and now declining prices. I got sad about the number of people contacting me, trying to get help with a home sale when their mortgage was not being met, and frustrated at how long they waited to get help...meaning, it was not possible for me to list their home and have them make enough money to save themselves. I was delighted to see so many young people and other first time home buyers saving money and coming in with an ethic of fiscal responsibility. It is what makes my chosen profession the best for me; never dull and different almost every day.

Some of my real estate colleagues, in the business for decades, told me that real estate is always cyclical. My own personal experience from home purchases in the '80s and then trying to sell a condo in the '90s, showed me first hand this was true. And my experiences now as a real estate professional back up these opinions.

Foreclosures and extremely high numbers of listings do have an effect on sale prices in our area. But here is a study pointed out to me on the University of Wisconsin-Madison site. They talk about two studies, but one is more recent. It was completed in 2006 by The Federal Reserve in Cleveland and talks about cycles. Here is an excerpt:

"....To understand changes in house prices, it is necessary to study the price of residential land. Data indicate that the real price of land has been marching steadily upward since 1950. If the 1998–2006 boom to house prices reflects demand for housing-related amenities, then the data on land prices argue that this boom is a continuation of earlier trends.
Relaxed credit constraints could explain the outpacing of house price appreciation to incomes. House prices can and should be expected to surge if credit constraints are unexpectedly relaxed for first-time home buyers who are credit or down-payment constrained. This surge can occur even when incomes remain constant; when credit constraints change over time, incomes and house prices should not be expected to increase at the same rate. ..."


This is a long dissertation, so you might want to grab a cup of java before you read. It's a very good read, however, for anyone who owns a home, is interested in how real estate works.

I'm never going to discount our foreclosure issues, or the change in (for the better) home sale prices sellers experienced for a few years running. The old saying is that 'real estate is local' and it surely is that. But this is a 'non-chicken little' approach...statistics! Let me know what you think. Peace Out - 3C

Monday, September 3, 2007

The Avenue District: Progress!

Check out the Avenue District Blog - they have photos of the construction site, via a webcam they installed. I wish all the projects had webcams! You can subscribe to their newsletter as well, by going to their website. Peace Out - 3C

Does the United States Make More Manufactured Goods Than Ever Before?

Peter Goodman writes in the Washington Post that in fact, The United States "....makes more manufactured goods today than at any time in history, as measured by the dollar value of production adjusted for inflation -- three times as much as in the mid-1950s, the supposed heyday of American industry. Between 1977 and 2005, the value of American manufacturing swelled from $1.3 trillion to an all-time record $4.5 trillion, according to the Bureau of Economic Analysis...."

He highlights a former mill in South Carolina that is now a new home to an entrepreneurial high tech company.

As we all observe the increase in high technology companies here, like the ones moving in Downtown, we have to realize we are part of that manufacturing base. It's changing but it still exists. Good stuff. Read Peter's article here.

Read more:

Skyscrapercity.com
NorTech talks about Akron's Innovation Campus

Peace Out - 3C

Sunday, September 2, 2007

Forbes Includes Cleveland Real Estate on Their Affordability List

There was a very good article in Forbes this week. Matt Woolsey reports about the affordability of housing stock in certain areas of the Country; and more specifically, certain cities. His description of affordability makes sense. The short version is, the median price matches the medium income. He points out that even if you don't have any money saved this year, ....it would take just two years of gross salary to become a homeowner...."

That means two years of saving for a home, which is reasonable and matches what my mortgage 'peeps' tell me. He was referring to Indianapolis at the time, but here are the other cities he included on the list for affordable homes:

Cleveland, Ohio
Indianapolis, Indiana
Detroit, Michigan
Pittsburgh, Pennsylvania
Atlanta, Georgia (this one surprises me, their salaries must be high enough to fit the criterion)
Greensboro, North Carolina
Cincinnati, Ohio
St. Louis, Missouri
Dallas, Texas
Austin, Texas

Our median income is somewhere around $57k -- according to the article. Does anyone have stats to back this up or corroborate? It sounds high to me. They list the median sales price of homes here as $122,900. That does sound about right. While it is not the best time to list a home for sale right now, it sure is a good time to buy one in the Cleveland area.

Forbes on line has a slide show that also includes the median home prices for each community, along with photos.

The more I think about it, I thought our median income was below $30k, otherwise how would we have been voted one of the poorest cities? Sometimes (!!!) when you read an article you just can't take it on face value, I know, you all already know that!

Peace Out - 3C

Saturday, September 1, 2007

Cleveland Neighborhood News:Food Finds! New York Style Pizza May Be Best Pizza on Cleveland's West Side

New York Style Pizza is my favorite West Side pizzeria. (I included the link even though their website is still under construction in the hopes it is up and running soon.) They used to be located at Lorain and W. 150th and it was a treat to indulge in their white pizza with eggplant topping. Now they are on Triskett at W. 150th -- how lucky am I to be on their delivery path now!


They offer a nice selection of toppings, they even advertise The Largest Pizza in Ohio (36" hand tossed). All their pizzas are baked in a stone oven. They make their own yummy dough and sauces. A few weeks ago, I ordered a Hawaiian pizza without ham. You could be saying to yourself, self, she is odd...or, you could try it, and have a wonderful juxtaposition of flavors on a meatless pizza: the sweetness of the cooked pineapple on a killer pizza with a to die for sauce. Yum!

Their menu is actually broader than pizza: killer chicken wings....salads, burgers, ribs, etc. The place is always spiffy clean; there are a few tables to dine-in if you choose. Or, just walk in and order and then sit and chat with the friendly staff or others waiting for their pizza.

I sat with rapt attention a few days ago as I listened to Peter explain to a newer employee what went into the making of a calzone; as he detailed the process I was hungrier than ever. Peter is of course one of the local heroes to me since he is the pizza maker! The crust and sauces are (as they say on the BBC), absolutely fabulous. Check them out! (In case you are wondering, Geraci's pizza is my favorite East Side pizza... you were wondering weren't you? lol) Peace Out - 3C

New York Style Pizza, 15233 Triskett Road, near the corner of Triskett and W. 150th. 216-941-2500