What's Faster Than a Speeding Bullet? The Ohio Hub Train

It seems there are more things to do today than there are hours, which must be why I am up at 5 o'clock in the morning. So let's feature a video. One of my passions, the proposed 3C Corridor Plan/Ohio Hub Initiative. All Aboard Ohio's website is the place to find out the most recent news and details. Read my Active Rain post on The Hub and when you get to the bottom of the comment list you will find a way to support this project. You need Quick Time in order to watch this video. It features fast trains (110 mph) and as the narrator says ".....5000 HP jet engine bullet that can get you anywhere in Ohio in an hour or two....." This is definitely, they say, "Not Your Daddy's Train." Climb on board and Enjoy the video!!

Steelyard Commons: Tax Money Trouble In Paradise?

While everyone basks in the glow of the new Steelyard Commons, a glitch has been discovered. Susan Vinella reports in the Plain Dealer this morning that the tax monies Cleveland was expecting from Steelyard Commons may not be there after all, at least for the next ten years. When you participate in Brownfield Remediation of a site, the State of Ohio allows you to receive a tax break for doing so. It's not that this is a bad thing, but my immediate reaction is, how could our City Government not know this ahead of time when they are formalizing agreements to plan development projects? According to the PD article, Mitchell Schneider, the projects developer is working with the City to try to get some of the tax monies to the City. But many of the stores (Target, Walmart) are already on board with the abatement available to them. By the way, this money was earmarked for continued improvements to the Towpath and Bike Paths, among other things.

I guess this adds to the discussion about the value of tax abatement to cities like Cleveland. In this case, brownfield remediation would be a smart reason to allow them. It amazes me that Cleveland could be blindsided in this way. I'm a layperson and if I am aware of tax abatement available for remediation then why would those hired to work on City Planning not be more aware? Shouldn't this have been part of the negotiations up front? Again according to the Vinella article, Cleveland claims to have discovered the loopholes/ramifications of this issue 'late last year.' That means just a few months before Steelyard Commons is ready for business?

Peace Out - 3C

Lakewood, Rocky River, Cleveland Heights and Shaker Heights Homes Sold in Cuyahoga County Since 2007 Began

Four communities to update here detailing sold homes in Cuyahoga County in 2007. This is a list of all the homes sold through area brokerages (since January 1st of this year) for these four suburbs.

Lakewood: 17 Single Family Homes sold this year. Sale prices ranged from $62,000 to $1,100,000.00. The average number of days on the market was 79. The average ask price was $227,561 and the average sale price was $215,583. The average room count included 3BRs,2Baths and a 2-car garage.

Rocky River: 9 Single Family Homes sold this year. (Actually ten are listed but one home listed over $500k is showing as 'sold' for $2500.00, seemed unusual so I am not including that sale here). Sale prices ranged from $153,000 to $560,000. The average number of days on the market before going under contract was 76. The average ask price was $279,600 and the average sale price was $264,722. The average room count included 3 BRs, 2 Baths and a 2-car garage.

Cleveland Heights: 23 Single Family Homes sold this year. Sale prices ranged from $30,000 to $367,900. The average number of days the houses were listed was 89. Average ask price was $122,123 and the average sale price was $115,653. The average room count included 4BRs, one bath and a 2-car garage.

Shaker Heights: 10 Single Family Homes sold so far this year. Average days on the market was 71. Sale prices ranged from $45,000 to $425,000. Average ask price was $271,070. The average sale price was $250,300. The average room count included 4BRs, 2 baths, and a 2-car garage.

The one constant in home buyer tastes seems to be at least 3 bedrooms with a 2-car garage. I'll feature more communities later this week.

Remember Big Yellow Taxi by Joni Mitchell, where she sang 'they paved paradise and put up a parking lot?' Here is the Counting Crows version.

Peace Out - 3C

Art Exhibit Postponed Until March 9th

The weather is not cooperating this week is it? Well, due to the extremely cold temperatures, the Robert Stockham Exhibit at Bergen Village scheduled for this Friday night's Tremont Art Walk has been postponed until March 9th during the same event. It has to be warmer by then yes? Peace Out - 3C

Shovel or Sweep That Pesky Snow if Your Home is For Sale

If you have your home on the market, your Realtor® has probably told you that a clean house is crucial to 'looking good' to a potential buyer. I have a past blogpost on Hints to having your home ready for buyers.

Now that we have some snow on the ground, don't you want to keep that snow outside instead of on your beautiful floors or carpets? Keep your sidewalks and the walkway to your door (or your driveway for that matter) free of snow. Yes we can ask people to park their shoes at the door. But what if they don't listen?

Sweeping the porch and stairs can make a big difference. First it enhances the curb appeal of your home on dreary winter days. Imagine the look of horror on your own face when you hear that someone fell on the snowy stairs on your porch and broke an arm. It keeps all the civil law suits in Judge Judy's courtroom (is her show still on?) on television, and not on the docket of your real life!

I previewed homes today for clients and it amazed me that not one of them had swept away the snow. That's why I am making this plea to you. If you cannot sweep the snow yourself, your Realtor® can advise you of a list of people to call. And let's hope that pesky groundhog Phil was correct and winter is almost over!

OK. I'm on my way to sweep off the porch for my mailman now :-) Peace Out - 3C

Lease Options - An Alternative to Selling & Personal Savings Declines aka, All the News That's Fit To Print

Several news articles struck me today. They are only somewhat related, but I'm posting them both anyway. The first one is another sledge hammer to personal savings. Reuters and CNN is reporting that personal savings in the United States has fallen to a -1%, the lowest reported since 1933, during the Great Depression. That is a stark figure. They are also talking about Sub Prime Loan defaults increasing in numbers. Sub prime loans are loans given to people who may have credit issues, for example, and do not qualify for prime lending loans; they usually involve higher interest rates. The number of sub-prime loans defaulting has been increasing year by year. The personal savings statistic was very sobering and should be a wake up call to all of us. An article from CNN Money talks about manufacturing coming out of it's slump which would be good news.

The other article is from the National Association of Realtors (NAR) on line magazine. In the Cleveland market there are a lot of homes competing with each other for buyers. This article talks about an option for sellers, and that is to allow your home to become a Lease with an Option to Purchase. One reason this becomes attractive to me is if you are selling your home very soon after you have purchased it. Maybe you are moving out of state for job purposes; an unexpected transfer that makes you think you have to put your home on the market even though you just purchased it. We just 'closed' a lease agreement on a rental for a home in just this situation. It's very hard to recoup your expenses in a short period of time so maybe selling a home is not the best idea, why not put it up for rent or a Lease with an Option to Buy ? Single family home rentals are very marketable and this can be a win-win scenario for both the homeowner (landlord) and the tenant. This allows you to wait a bit longer before putting the home on the market for sale, allowing more time for the home to increase in value. It can also give you time to make some improvements that will increase your homes value, all the while making your mortgage payment through the monthly rental amounts. It's worth considering.
Peace Out - 3C

Cleveland City Council to Consider Banning Cell Phone Use While Driving

This article on male infertility because of cell phone use aside, I think most of us consider our cell phones a way of life. As a Realtor® I cannot imagine not having one. I know that Brooklyn, Walton Hills and North Olmsted don't allow me to use it while I'm speeding, er, driving down the road - may as well stay within the letter of the law! Of course common sense has to come into play even when I'm in a community that DOES allow it. I know the State of New York passed a ban; I wonder how that is working there?
Why am I bringing this up now? Well, Councilman Dolan (Ward 21) has introduced legislation to ban cell phone use while driving, in the City of Cleveland. You could spend a couple of months in jail (probably unlikely) or many hundreds of dollars in fines (much more likely). My opinion? There are people who pay too little attention to their driving, be they on the cell phone, applying makeup, fishing for some mysterious file under the seat (is it not amazing how frequently we see that?). Banning cell phone use still does not preclude someone from being stupidly distracted in a different way. I would have loved to link to the City Council page here but their site is still not working (I will add it if that changes anytime soon). OK good news, the City Council Website is now up and running.

My last bit about cell phones is a shout out to Michele Connors post on Active Rain today regarding the Do Not Call Registry. You can get all the details from her post, but the synopsis is this. You may like telemarketer calls, but if you don't, or don't want to pay for cell phone minutes while listening to a telemarketer, you can call the Do Not Call Registry at: 888-382-1222.

In less than two weeks, telemarketers will legally be allowed to solicit on cell phones and that is a big change in policy. So this is a heads up. When you call the number above, make sure you are calling from the phone you want to register. The registration is good for five years. The website has complaint forms you can use when telemarketers call you (once you are on the Registry List of course). If you would like information on the general Do Not Call Registry for land line phones check the FTC site here.

A little music to lighten things up, thanks to Travis Tritt.

Peace Out - 3C