Cleveland Real Estate: Housing Sales West Park/West Town

These are statistics for home sale activity for the first six months of this year. This post covers Westpark/Westtown, and as always, includes all home activity for homes listed with area brokerages.

• There are 423 homes on the market as of today
• 133 of them are 3 BR, one car garage single family homes
• Two homes are 'contingent' but under contract
• 80 homes have sold since January

The Averages:

• 1,276 square feet of living space
• The 80 homes were on the market an average of 72 days
• Average Ask Price was $101,334
• Average Sale Price was $97,103

**The least expensive home that sold ($18,500) and the most expensive one ($156,000) were both bank owned/foreclosure homes.

Let me repeat: there are 423 homes listed for sale with area brokerages in this neighborhood. I would say if you do not have to sell your home right now, now would not be a good time to test the waters!

Peace Out - copyright 3C 2007

Cleveland Real Estate: The Skinny on Lakewood and Rocky River Home Sales

Six months of statistics are available for home sales in and around Cleveland so I'm going to be posting these off and on over the next week. Today it's Lakewood and Rocky River. These stats, as usual, cover homes sold by brokerages in NE Ohio. All stats cover January to the present.

Lakewood:

105 total homes sold. 66 were BR single family homes; the rest were condos. The lowest sale price was $55,000 and the highest was $223,000.

All 105 averaged 94 days on the market before selling. The average 'sold' dwelling had 3BRs, 1BA and a one car garage. Average asking price was $120,096. The average sale price was $115,574.

There are 168 Single Family Homes for sale currently in Lakewood.
There are 138 condominiums for sale.

12 homes are currently under contract and waiting for inspections and mortgages to be finalized; 36 homes are 'pending' or waiting to close.

Rocky River:

182 total homes sold since January.
137 were single family homes
45 were condominiums

They ranged in price from $127,000 to @262,000. The average ask price was @178,060 and the average sale price was $171,747. These homes were on the market an average of 88 days.

There are 4 'contingent' offers, meaning waiting for inspections and mortgage approvals.
There are 37 homes pending, or waiting to close.

Rocky River currently has 171 condos listed for sale ; 182 single family homes are listed for sale.

Still more available homes than there are buyers. Peace Out - 3C

Sales Tax Monies....Better Use?

Hmmm, thinking that our infrastructure might be better served by that increase in sales tax monies. A day like today that saw most of NE Ohio flooded due to sewers that are tied into each other in ways that encourage flooding.....couldn't they use that money to take care of this issue instead? I'd love to know if this is realistic. Peace Out-3C

I did not have three minutes to myself today so no calls to the sewer peeps etc. But, turns out today's newsnet5 website has an article. It's slightly tabloid in nature (quel surpris) but I will let you read and decide for yourself. Now, this really IS my next week's cause. 8/9/07

Cleveland Housing News: Ohio's Homestead Exemption Tax Has Expanded

Governor Strickland and The Ohio General Assembly have expanded the Homestead Exemption Tax. You may not have been eligible before but may now meet the requirements.

Are you 65 ?

Are you disabled?

If you answer yes to either question, you may now qualify. Because the income limits have been eliminated.

It could reduce your property taxes up to $400 a year.

I mention this now because the deadline for applying for a Homestead Tax Exemption is October 1, 2007. Believe it or not, October is not that far away. You will ultimately be applying through your local county auditor. There is a directory of all county auditors and forms you can download at the Ohio Department of Taxation website.

If you already qualify, no worries, the new rules will automatically keep you in the program.

You can find out more information two ways -

On line at Ohio Department of Taxation or by calling them at 800-282-1780.

In Cuyahoga County, you can contact the Auditor's Office on line or by calling 216-443-7010

Peace Out - 3C

Cleveland Retail Economic News: My Grocery Store Rant - What are They Thinking?

I'm not my usual positive self; been sitting on this issue for two days and finally have to blog about it. The PD will tell you more but....... Giant Eagle is planning on a store on W. 117th at the new Target location. On face value, everyone might say great! Here's some food for thought:

1. Lorain at Rocky River Drive: Rego's Market replete with Corbo's bakery

2. Lakewood Heights Blvd at Lewis: Rego's Market at first Rego's location ever

3. Lorain Road at W. 139th: Giant Eagle Super Market

4. Lorain Road at W. 104th: Giant Eagle Super Market

5. Montrose at Warren Road: Giant Eagle Super Market

All five stores reside in areas heavily populated with homes. All are within I bet, two miles of each other. Yes, there are some residential streets close to the new Target on W. 117th but wouldn't different types of retail be better there? If I am going to Target, I'm NOT going to the grocery store! Yes, I know, private ownership and all. But really guys! Put a retail operation there that will bring more retail jobs to the neighborhoods, NOT robots!

And my pet peeve: Giant Eagle cannot keep cash registers open at the stores they already have. This was a conversation I had last evening at the one on Lorain Road...ten people in line, one cashier. It makes no difference what time of the day you go, there are NEVER enough people cashiering at a Giant Eagle. At least not any of the ones I have mentioned. And they are moving towards the self-scanning machines anyway (which are never manned either I might add). Let's put more people out of business and just have us do our own check out - kind of like having to pump your own gas only with groceries.

Why spend money on a new store when you can't even service the ones you have?

Closing down more grocery stores in our neighborhoods while promoting driving a car to one on W. 117th seems like insanity to me.

Someone explain to me why this is getting a go ahead. The people who make these decisions must not shop at local grocery stores. Someone please explain to me why this is a good idea!

Bah humbug. Peace Out - 3C

How would you feel about an 'air rights' cap over the Innerbelt that included housing?

It's hard to weigh in on this idea fully, but there are aspects to it that sound feasible and economically forward thinking. What am I talking about? Well you will have to read an article in the Plain Dealer by Steven Litt. A non profit group called Quadrangle Inc. is suggesting we follow the path taken in places like Boston and making sense out of concrete barrier areas established during the Federal money heyday. Barriers that have cut off neighborhoods from the rest of the world (i.e. highway exit ramps) in cities all over this Country. That part sounds good so far.

I get a bit nervous about two things. Have you ever read about Boston's Big Dig? That was so expensive it made everyone's blood go cold. Secondly, there is money for the Innerbelt Plan (Federal) but no money would exist for the Capping Plan (Federal).

It would be a ten block area that would connect CSU with CCC and St. Vincent's Charity Hospital. It would be called the 'University Circle West.' I can't believe they have a name for it already. It would create 23 acres of housing, retail and parks. Above ground parks like the High Line in NYC?

As usual there is discord not discourse. The peeps and non-profit groups supporting The Innerbelt Plan are saying that this will circumvent the existing plan for the Carnegie exit ramp and that it will delay the project, make it more expensive. Make it more expensive makes sense; the delay part, well, to me a plan should move ahead only when it's absolutely determined that it is the best one.

This quote from Hunter Morrison, a former area planner, is worth repeating because this is for sure what happened all over the Country: (this is right out of the PD article)

"Morrison said city planners in the 1950s intentionally ran the highway between downtown and the Woodland and Central neighborhoods to create a barrier. Capping the freeway in the future would heal an urban scar, he said. "

But, and a big but, they don't know who would fund this project.

You can go to Quadrangle Inc. website and see a map of the District and find a bit more about them. The name quadrangle and it's association for college life is not lost on me. This has not been on my radar before has it been on yours? Let's hope we can find out more about this.

Cleveland Economic News -Summer In The City Program Shows Off Cleveland

This made my heart beat faster....and yes I realize 30 people do not a 'reverse brain drain' make. But it is in line with what I am hearing and seeing from rental and buyer clients moving into the area. Read this article by Amanda Teuscher (wonder if she is related to Fred) of the PD.

It's a good story - the first person who is interviewed is a Berkeley California gal who wound up here for grad school after her 'internship' showed her what Cleveland had to offer. It's a start. If we keep having lots of these starts, maybe it will amount to good things.

Last year I had one client move out of Ohio (to Tennessee for a job). This year I had a Philly native/resident who was part timing here for job purposes give up his condo. That is it, all the rest of my relocation clients have been moving here, not leaving.

How about this statistic from the article: 630 students applied for 75 spots/internships; the program was originally just for Yalies but employers became so enthusiastic about the program they opened it up to other schools.

This program sounds so much better than any expensive marketing campaign we've tried in the past. Peace out - 3C