Monthly Archives: October 2010

Foreclosure Update In The Cleveland OH Real Estate Market

foreclosure crisis

UPV26H3RVW99Lately, the foreclosure crisis has been a hot topic and we wanted to give our readers an update as to what is going on nationally, and specifically, what it means to them here in the Cleveland area. We would like to thank one of our local mortgage partners, Sean Hadley of Heritage Mortgage, for providing us with this great information.

To begin, close to 300,000 homes are entering the initial foreclosure process nationally every month. Unfortunately, there is no reason to believe this large volume will start decreasing any time soon.

In recent weeks, the news has been dominated with stories about how lenders are not being able to legally foreclose on these properties. The ability of the lenders to foreclose was recently put into question.  Apparently, documents were being improperly handled or not executed correctly, and some large lenders were told that they couldn’t continue legally foreclosing on homes.  This led to numerous large banks calling for a moratorium on all foreclosures so they could take some time to re-evaluate their paperwork.

Nationally,  the overall economic impact of the stoppage will probably be very minimal, provided the situation resolves itself in the near future. In areas where there are a lot of foreclosures, and where these mortgages are owned by lenders who temporarily halted foreclosures, there could be a shortage of inventory, thus temporarily increasing prices. However, this will be limited only to areas where there is a high concentration of foreclosures.

On a local level, many of the local banks cited that they were comfortable with their internal procedures and were doing business as usual. So at least here, there does not seem to be any major problems. For those looking to buy a foreclosed home in Cleveland, there may be some situations where a buyer  may be temporarily inconvenienced by the situation and simply have to wait for a particular home to come on the market. Overall, there doesn’t seem to be a huge concern that this crisis will greatly affect the local real estate market.

As always, conditions can change quickly, so we will continue to update you on this situation as we get more updates.

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About The Authors

The above information pertaining to Cleveland Real Estate News was provided by The Schuman Team, Amy and Dan, of Howard Hanna.  They can be reached at 216-346-3235 or via email, danschuman@howardhanna or amyschuman@howardhanna.

We service the following Cleveland area suburbs: Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Foreclosure Update In Cleveland OH Real Estate Market  is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Tips For Preparing Your Home For Winter In Cleveland OH

Even though it’s a balmy 67 degrees here in Cleveland today, winter will soon be approaching. Now is the perfect time to prepare your home for the cold, wind, and snow that is sure to come. Here are a few things that we recommend all Cleveland area home owners do before winter hits:    

                

1.     Have your furnace serviced – Making sure your furnace is running as efficiently as possible to handle the upcoming cold winter months is critical.

2.     Have gutters cleaned – Leaves will easily clog gutters if not cleaned. This is especially important during winter months when we get a lot of precipitation.

3.     Blow out sprinkler system – A service call should be made to make sure your system is blown out before winter.  Pipes are at risk when the weather gets cold and damages can be costly if you are not proactive here.

4.     Clear leaves from yard – Leaves are not good for your lawn and should be removed before winter hits. Otherwise, you could damage your lawn and attract unwanted insects. Applying fertilizer during late fall may not be a bad idea either. 

5.     Service garage doors – This is often overlooked, but in order to properly maintain and increase the lifespan of your doors, have it serviced at least once a year. We personally have had success with Action Door  and the service call is very reasonable in terms of price.

Hopefully you will take the steps to properly service your home and be able to avoid costly repairs that may result from not doing them.

 

If you liked this article and feel that others may enjoy it as well, please click on share or tweet above, to the right of the red arrow.

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About The Authors

The above information pertaining to Cleveland Real Estate News was provided by The Schuman Team, Amy and Dan, of Howard Hanna.  They can be reached at 216-346-3235 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.

We service the following Cleveland area suburbs: Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Tips For Preparing Your Home For Winter In Cleveland OH  is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Technology Tips – Easy Way To Increase Your Website’s Ranking

If you have a website, here’s a great tool that allows you to grade your site, and offers tips on improving it, and it’s all FREE. You can check it out at www.websitegrader.com . Regardless of how your site grades ( out of 100 ), there are a few things that you can easily do that may help you boost your score, and hopefully drive more business your way.

Here is an example of what it looks like, using our personal real estate website, www.schumanteam.com . Overall, we scored pretty well, but could still refine a few things to make it even better.

 

 

While we suggest that you actually spend a few minutes by plugging your site into this grader, here are a few quick tips that we picked up and will share with you that may make a difference in your rankings.

1. Domain info – check your expiration date! If it expires in less than a year, search engines may see it as a lack of commitment to your domain or even view your site as spam.

2. Add links to your social media accounts.

3. Evaluate your readability level – define your ideal client and make sure you are writing to attract that person.  

4. Check your inbound links – More links to your site help increase your search engine rankings.

5. Add a blog.

If you have a blog,  make sure you at least put a link to it on your site. There’s also a handy tool to grade your blog as well  http://blog.grader.com/  . If you don’t have a blog, you may want to consider starting one. They are fairly inexpensive, easy to operate, and consumers love reading them.

Another great use for this grader is to be able to check out your main competitors to see how they are doing. You can plug any website into this tool, so everyone is fair game. Maybe your competition is doing something great that you aren’t doing.

Overall, there are some easy ways to help your website, so check out this great tool and hopefully your grade will increase.

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About The Authors

The above information pertaining to Cleveland Real Estate News was provided by The Schuman Team, Amy and Dan, of Howard Hanna.  They can be reached at 216-346-3235 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.

We service the following Cleveland area suburbs: Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Technology Tips – Easy Way To Increase Your Website’s Ranking  is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Derthick’s Corn Maze – Cleveland OH

Derthick’s Corn Maze – Cleveland OH

Corn maze at Derthick's Farm

Corn Maze at Derthick's Farm

 

 

 

 

 

 

 

 

 

People are always looking for fun activities to do in the fall, and we had a great experience that we’d like to share.  A corn maze.  We have lived in Cleveland for over 15 years now and before last year, we had never heard of such a thing. Thanks to an invitation from some local friends, we experienced the fun at Derthick’s and had such a great time, that we came back again this year.

The corn maze, just like the name would indicate, is a maze through corn, and is located on the Derthick family farm. However, it is not just a few twists and turns. Every year, the shape of the maze changes, and this year the maze was shaped in a football theme, specifically dedicated to the Cleveland Browns and Pittsburgh Steelers. It is sort of hard to describe just how cool this maze is, so you can check it out for yourself. I don’t know how they actually create the maze, but it’s really unbelievable.

There are actually 3  mazes, all different lengths. Our group opted for the longest maze which was about 3.5 miles, and encompassed the entire maze. However, there were two smaller mazes for those who didn’t want to walk as much, or who had really small children.

Check point inside Derthick's corn maze

One of many checkpoints inside the corn maze

Going through the maze entails more than just walking and following a map. There is actually a scavenger hunt of sorts, inside the maze. There are check points located throughout different parts of the maze, and the goal is to find all of the spots and check them off your card. There is a punch card located at each designated location as the picture indicates. 

This year, they added a twist similar to the game “Clue”.  In the beginning, everyone was given a “scorecard” and at random checkpoints, they would have an animal, location, and item. The goal was to check off all items until you were left with only 1 from each category. The kicker was that you had to go through the entire maze to do this. A special prize was given to everyone who revealed the correct answers at the end. After about 1 1/2 hours, we hit all the checkpoints and came away with the right answers. If you want to know the answers, you’ll have to check it out for yourself.

Besides the maze, there were other things to do as well. Located just outside

Hay maze at Derthick's

Hay Maze located next to corn maze

 the corn maze, there was a hay maze that seemed to be a big hit with both kids and adults. There was also a separate “farm experience”  that gave people an opportunity to see different animals and learn about farming. And of course, there was a great concession stand, stocked with all the fall favorites like caramel apples and apple cider. 

 

 

Derthick’s Corn Maze is open the last two weekends in September, and every weekend in October ( Friday, Saturday, and Sunday ). We attended during the day, but they are open until 11PM and have a bonfire at night. Admission is $8 for those over 4. Officially, Derthick’s is located about 35 miles Southeast of Cleveland and 30 miles Northeast of Akron. It took us only about 20-25 minutes from the East side of Cleveland, and was well worth the trip.

If you are looking to spend some quality time with family and friends, there’s still one weekend left this year, so make plans to attend the Corn Maze at Derthicks.

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About The Authors

The above information pertaining to Cleveland Real Estate News was provided by The Schuman Team, Amy and Dan, of Howard Hanna.  They can be reached at 216-346-3235 or via email, danschuman@howardhanna or amyschuman@howardhanna.

We service the following Cleveland area suburbs: Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Derthick’s Corn Maze – Cleveland OH  is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Solon Ohio Luxury Home Value Report 3rd Quarter 2010

 Solon OH luxury home value report

Here is our official 3rd quarter home value report for Solon Luxury Homes complete with a comparison to 2009. 

Please keep in mind that in the Cleveland real estate market, the definition of a luxury home is one that sells for at least $500,000. Commentary to follow. 

Here are all luxury homes that sold in Solon during the Third Quarter of 2010:

39755 Lochmoor Dr $510,000
6512 Dorset Ln $582,000
29775 N Park Blvd $710,000
5185 Leighton Ct $725,000
38355 Flanders $747,500
37471 Cherrybank Dr $765,000

 

THIRD QUARTER 2010 VS. THIRD QUARTER 2009 COMPARISON

Luxury Sales     # of Homes Sold      Ave. Sales Price                Ave. Days on Market

2010                          6                      $673,250                             145

2009                          9                      $560,247                             131 

YEAR TO DATE COMPARISON

2010                         20                     $641,088                             170

2009                         27                     $600,069                             129

Commentary:

Through the first three quarters of the year, we have less luxury home sales in Solon than at this time last year, and the market for homes priced over $750,000 remains extremely soft. However, the average home price has increased from 2009. So, what does that mean for the values of Solon luxury homes?

To begin, it would not be fair to look at the above statistics and make a blanket statement that Solon luxury home values are up around 7%. The increase in the average sales price is more likely due to a lower number of distressed luxury homes being sold this year than an actual increase in home values. However, we feel that prices at all levels are no longer decreasing and have leveled off. In addition, appraisers that we have spoken with say that Solon is seen as a stable market in terms of home values although they are taking a little longer to sell.

The interesting thing to note is that many surrounding suburbs are seeing an increase in both sales AND average home price, especially in the luxury home market. So why is that?

We believe that the demand for a luxury home in Solon is just as high if not higher than in any  neighboring suburb. The fact is that if someone wants to buy a luxury home on the East side of Cleveland that has been built within the last 10 years, Solon is pretty much the only place to go. Added to that, Solon has one of the top-rated school systems in the State of Ohio. However, the sellers here are in a different situation than luxury home sellers in older areas of town, and here’s why: 

All of the people who are selling a luxury home here in Solon bought or built their home when prices were higher. The market appreciated during the first part of the decade, peaked in 2005, and then declined. In fact, many economists believe that housing prices are currently at the same levels as they were 10 years ago. In addition, many current sellers, especially those that bought new construction, spent a lot of their own money on landscaping, window treatments, and perhaps even a finished basement. Therefore, there is a big difference between what a seller has put into their home and the current market value.

Simply put, most sellers either cannot afford to sell at the current market price, or are refusing to accept the loss they will have to take. When pricing their homes for the market, many sellers look at what they paid, add how much money they put into the home, and come up with a listing price. This strategy just doesn’t work in today’s market, or in any market for that matter, as evidenced by the sales numbers listed above. There is simply a disconnect between Solon luxury home sellers and the price buyers are willing to pay for a home. We are certainly not trying to be negative here, but that is our honest assessment of why luxury home sales in Solon are down.

When trying to determine the value of a home in Solon, it is important to have an reliable method for coming up with value. Looking at national or even regional housing statistics is nice, but is not necessarily relevant as real estate is very local. The best way to value a home is by finding out what similar homes in the same neighborhood have recently sold for and account for any differences that these homes had compared to the subject property.

The bottom line is that nice homes priced well still sell in any market, but expecting to make money if you bought recently simply isn’t realistic. This may be harsh reality for some sellers out there, but it is the nature of the market.

When all is said and done ( and I’m not just saying this because I’m an agent ) there is no substitute for having a local real estate expert help with this process, specifically someone who has personally been inside many of the homes here in Solon. Below are past articles that relate to the content of this post.  

2009 Year End Luxury Market Report Solon Ohio

Solon Agent Receive Luxury Home Designation

2008 Luxury Market Report Solon Ohio

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About The Authors

The above information pertaining to Cleveland Real Estate News was provided by The Schuman Team, Amy and Dan, of Howard Hanna.  They can be reached at 216-346-3235 or via email, danschuman@howardhanna or amyschuman@howardhanna.

We service the following Cleveland area suburbs: Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Solon Ohio Luxury Home Value Report 3rd Quarter 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Pepper Pike Real Estate – Home Value Report 3rd Quarter 2010

Pepper Pike Real Estate – Home Value Report 3rd Quarter 2010

 

 

 

 

pepper pike home value report

Before we discuss the direction of home values here in Pepper Pike, we will first give a list of all homes that sold during the 3rd quarter of 2010. We will also include a comparison to the same time period in 2009.

27399 N Woodland Rd $115,000
2438 Windy Hill Dr $157,000
32399 Pinetree Rd $210,000
29099 Fairmount Blvd $265,000
3038 Forest $298,000
2840 Lander Rd $330,000
3497 Courtland Rd $330,000
30076 Gates Mills Blvd $340,000
2632 Brainard Rd $360,000
31220 Shaker Blvd $385,000
2650 Butternut Ln $425,000
3250 Willowbrook Dr $425,000
32631 Meadowlark Way $437,700
28129 Belcourt Rd $501,250
31129 S Woodland Rd $505,000
31175 Northwood Dr $523,000
3311 Oak Knoll Dr $607,000
2544 Ginger Wren Rd $650,000
2455 Botanica #34 $705,195
29875 Bolingbrook Rd $900,000
2634 Butterwing Rd $1,000,000
31200 Edgewood Rd 1,100,000
31900 Pinetree Rd $1,500,000

SUMMARY

All Sales                          # of homes sold         Ave. Sales Price

Third Quarter 2010                23                         $524,745

Third Quarter 2009                20                         $333,520

YTD 2010                             69                         $461,219

YTD 2009                             52                         $373,403

Things are starting to look favorable regarding sales and home values in Pepper Pike. Sales are up not only this past quarter, but year to date as well compared to last year. The year-to-date statistics are actually quite impressive.

One thing to remember is that national housing statistics don’t necessarily reflect what is really going on in here in Cleveland. In fact, real estate is so local, that certain suburbs, such as Pepper Pike, could actually be faring better than areas nearby.

Another impressive statistic showing Pepper Pike home values may be back on the rise is related to the luxury home market, specifically those homes valued at over $500,000. So far this year, we have had 26 homes sell for more than $500,000, compared to only 12 during the same time in 2009.

We can conclude that high-end buyers are much more confident moving forward with a major purchase this year compared to last year. While historically low interest rates certainly have helped fuel the market, we feel that home sellers are much more realistic, at least here in Pepper Pike, regarding the true value of their home. Homes are selling for about 91% of final list price, which is lower than most other suburbs.

Overall, Pepper Pike real estate is regarded by many as very desirable thanks in part to the excellent rated ( by the State of Ohio ) schools, beautiful 1 acre wooded lots, and ideal location.

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About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Pepper Pike OH real estate and homes see Pepper Pike real estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL PEPPER PIKE OH HOMES FOR SALE 

 

Pepper Pike Real Estate – Quarterly Market Report Fall 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Moreland Hills Real Estate – Home Value Report 3rd Quarter 2010

Moreland Hills OH Real Estate – Home Value Report 3rd Quarter 2010

Moreland Hills OH

 

Before we discuss home values and trends in Moreland Hills, OH, we will first provide a list of all the homes that sold here during the 3rd quarter of 2010. We will then provide a comparison to the third quarter last year and also give year to date comparisons between 2010 and 2009 as well.

Below are sales of Moreland Hills OH homes during July, August, and September of 2010. 

34102 Chagrin Blvd ##2106 $130,000
235 Meadowhill Ln $150,900
33670 Hiram Trl $227,000
75 N Strawberry Ln $245,000
125 Mill Hollow Dr $325,000
180 Sterncrest Dr $522,000
25 Cableknoll Ln $756,000
205 Murwood Dr $775,000

 

Overall, there were 8 sales during the third quarter of 2010 compared to 11 in 2009.

Here is how the third quarter this year compares with the same time period from 2009 in Moreland Hills:

Year # Of Sold Homes Ave. Sale Price    
2010 8 $391,363    
2009 11 $362,841    

SUMMARY

To begin, Moreland Hills OH is a very exclusive community with a limited number of home sales. With such a small amount of data, statistics can sometimes be misleading or inconclusive.

So far this year, we have seen 21 home sales at an average sales price of $399,662. There are currently 6 homes under contract, all will most likely transfer before the end of the year.  Last year through the first 3 quarters, we had 26 home sales averaging $350,391. We could conclude that although sales are down, Moreland Hills home values are up compared to last year.

As previously mentioned, with a limited number of sales, it can sometimes be difficult to really get a fair grasp on where home values are heading in Moreland Hills. One good sign is that Moreland Hills luxury home sales, those over $500,000, are up so far this year. So far, there have been 5 sales over $500,000 with the highest being $1,250,000. There are 3 currently under contract. Last year at this time, we only had 3 sales over $500,000. 

So, the fact that the luxury home market is experiencing signs of life is good news. We are seeing this trend in other nearby suburbs as well, and conclude that more luxury home activity is due to high-end buyers feeling more comfortable about the economy, and sellers being more realistic on the value of their homes.

Overall, Moreland Hills is viewed as one of the area’s most prestigious suburbs with average home values consistently among the highest in the area. Moreland Hills shares an excellent rated school system ( Orange Schools, rated excellent by the state of Ohio ) with neighboring communities of Pepper Pike and Orange, and offers distinctive homes on private wooded lots.

Below are articles of interest pertaining to other suburbs on the East side of Cleveland:

Beachwood Real Estate – First Quarter Market Report 2010

Orange Real Estate – First Quarter Market Report 2010

Pepper Pike Real Estate – First Quarter Market Report 2010

Solon Real Estate – First Quarter Market Report 2010

Twinsburg Real Estate – First Quarter Market Report 2010

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About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Moreland Hills Oh real estate and homes see   Moreland Hills OH real estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL MORELAND HILLS OH HOMES FOR SALE  

 

 

CHECK OUT THE SCHUMAN TEAM’S AWARD-WINNING WEBSITE

 

Moreland Hills Real Estate – Home Value Report 3rd Quarter 2010M is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Beachwood Real Estate – Home Value Report 3rd Quarter 2010

Beachwood OH Real Estate – Home Value Report 3rd Quarter 2010 

Beachwood OH Real Estate

 

Before we discuss home values and trends in Beachwood, OH, we will first provide a list of all the homes that sold in here during the month of September. We will then provide a statistical comparison between the third quarter of 2010 and the same time period in 2009.

3597 Beacon Dr $186,000
2627 Edgewood Rd $205,000
25805 Fairmount Blvd #402 $205,000
2178 Cedarview Dr $254,000
25896 Fairmount Blvd $272,500
25275 Shaker Blvd $342,256
25050 Twickenham $555,500

 

All Sales           # of homes sold         Ave. Sales Price              

Sept.   2010               7                        $313,500                

Sept.   2009               7                        $288,608

YTD 2010                  77                       $277,654

TYD 2009                  86                       $264,312  

*source NEOHREX ( Regional MLS )

COMMENTARY:

Last month’s home sales in Beachwood were equal to those from September of 2009. However, the average sales price was higher.

As has been the theme the last few months, the market is basically holding steady, with no real direction up or down. The fact that the average home price is higher than last year is certainly good news, but may be due more to fewer distressed sales this year than an actual increase in Beachwood home values.

We caution home buyers and sellers not to concentrate too much on national housing statistics and headlines, as they do not necessarily reflect what is going on here in the Cleveland area. In addition, real estate is not only local, but hyper-local in that certain suburbs, and even specific neighborhoods, could see valuations differ than those of other nearby areas. Getting the advice of a local real estate expert is critical if you are looking for accurate information concerning the value of your Beachwood home.

Moving forward, the fall market will last until Thanksgiving, then the market typically slows down until the beginning of January. 

From a demand standpoint, Beachwood has a limited housing inventory, so there is typically never an over supply of homes on the market. Beachwood is also viewed as a highly desirable area in which to live and work as it offers easy access to I271, superb amenities, excellent rated schools and some of the best shopping in all of Ohio. 

Below are other articles of interest pertaining to Beachwood OH Market Reports:

Beachwood OH Real Estate – Bi-Annual Market Report 2010

Beachwood OH Real Estate – Monthly Market Report July 2010

Beachwood OH Real Estate – Year End Market Statistics 2009 

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About The Authors:

Dan Schuman is a proud member of the Beachwood Chamber of Commerce and has served on the Board of Directors for the past 7 years.

The Schuman Team, Amy and Dan Schuman, specialize in luxury homes and work extensively with buyers and sellers who are relocating to Beachwood.

For Ohio and Beachwood OH real estate and homes see Beachwood real estate.

For a personal consultation or to speak to The Schuman Team, call 216-346-3235.

 

VIEW ALL BEACHWOOD AREA HOMES FOR SALE

 CHECK OUT THE SCHUMAN TEAM’S AWARD-WINNING WEBSITE

 Beachwood Real Estate – Home Value Report 3rd Quarter 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010 

Solon Ohio Real Estate – Home Value Report 3rd Quarter 2010

Solon Ohio Real EstateHome Value Report 3rd Quarter 2010

  

solon real estate report

 

Before we discuss home values and trends in Solon, OH, we will first provide a list of all the homes that sold in Solon during the month of September and a statistical comparison between the third quarter of 2010 and the same time period in 2009.

5080 Harper Rd $126,000
6825 Green Ridge Ave $195,000
6545 Duneden Ave $218,000
33128 S Roundhead Dr $225,000
5823 Richmond Rd $230,000
5485 Ridge Ln $267,500
32600 Seneca Dr $319,500
7028 Highview Dr $395,000
27555 Tinkers Valley Dr $395,010
7230 Castle Pine Dr $496,000
29775 N Park Blvd $710,000
37471 Cherrybank Dr $765,000

 

 All Sales           # of homes sold       Ave. Sales Price              

Sept. 2010               12                      $361,834                

Sept. 2009               17                      $231,029

YTD 2010                 153                    $297,439

YTD 2009                 187                    $293,045  

*source NEOHREX ( Regional MLS )

COMMENTARY:

We realize that most people want to know what is going on with the value of homes here in Solon, OH. Whether you are buying, selling, or just live here in Solon, you want to know. One thing we want people to understand is that real estate is very local, so it’s important that you don’t get too caught up in national housing statistics. In fact, home values in Solon may not even be faring the same as other suburbs of Cleveland.

Demand obviously plays a big part in the direction of home prices. Solon is seen as a highly desirable area to live based in large part to having one of the top school districts in the nation. Based on the information above, which reflects all sales through the first three quarters of 2010, the average sales price is higher this year than it was last year at the same time.

Overall, home values here seem to be in line with where they were last year, yet values are about where they were 10 years ago. Local appraisers that we have spoken with also have indicated that while inventories may be up and it is taking longer in general for homes to sell, the market is still deemed stable.

Foreclosures, which have caused home values to decline in many areas of the country, do not seem as pravalent here in Solon this year, compared to the last few years. That doesn’t mean they don’t exist, but there are not enough of them at this point to alter statistics dramatically downward.

WHAT TO EXPECT IF YOU ARE BUYING OR SELLING A SOLON HOME

One thing to note is that every home is unique and the thing to be most concerned with is to compare your home, or the one you want to buy, with similar homes that have recently sold. Price point, location and condition are also major factors in Solon home values.

If you are looking to buy or sell a home in Solon, you should really contact a local professional, someone who has intimate knowledge of the market and has personally seen the inventory. While there are a lot of helpful websites out there that will give estimated home values, most of them have a high margin for error. There is no substitute for someone who has specific market knowledge.

Below Are Other Articles Of Interest Relating To Solon OH:

Solon – A Special Community

Money Magazine Ranks Solon Top Places To Live

Newsweek Ranks Solon On Top Schools List

 

Solon Schools

Solon Luxury Homes – Year In Review 2009

Solon real estate – year in review 2009

 

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Solon luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Solon OH real estate and homes see Solon real estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL SOLON OH HOMES FOR SALE BY CLICKING BELOW

 CHECK OUT THE SCHUMAN TEAM’S AWARD-WINNING WEBSITE

 

Solon Ohio Real Estate – Home Value Report 3rd Quarter 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

A Night Out In Solon Ohio – Where To Go?

A Night Out In Solon Ohio – Where To Go?

We work with a lot of people relocating to Solon and are constantly asked about the local shopping, restaurants, and entertainment. Recently, a young couple came in for a weekend without their kids to look for a home and had Saturday night free to spend around town. They asked us what our ideal night on the town would be, but limited it to staying within Solon ( no surrounding areas ).  Knowing everyone has different ideas of fun, we came up with some great options for a “perfect night out” here in Solon, OH

Solon OH restaurants

 

Option for Fun #1

We’d start with dinner at Jimmy Daddona’s then walk just across the parking lot to the Solon Cinemas to take in the hottest new movie.  Don’t fill up on movie theater junk food though as you’ll want to end the night at Mitchell’s Ice Cream.  In our opinion, any night that ends at Mitchell’s is perfect as we’re addicted to their latest yogurt – peanut butter with chocolate covered pretzels – Mmm!

Option for Fun #2

Bowling at Solon Freeway Lanes. They offer family Cosmic Bowling on Fridays and a more grown up version on Saturday nights.  They offer a full menu  of “bar food”  and pizza and offer a full bar and pool as well.  A fun night all by itself.

Mitchells Ice Cream Solon 

Option for Fun #3

Grab an early bite at Station 43  and then head over to see a wonderful production at out very own Solon Center For the Arts.  Check the calendar for shows, wine tastings, art exhibits and more.  End the night with coffee and something sweet at Caribou Coffee.

Option for Fun #4

Watch your favorite sports team – your pick in Solon – Panini’s or The Rusty Bucket  – both with great food and lots of big screen TVs. After the game, we still recommend going across the street to Mitchell’s Ice Cream.

Option for Fun #5

Be entertained while you eat at Akira Hibachi.  The chefs will dazzle you and make you laugh while preparing your choice of veggies, seafood, and meats on the huge cook top.  Akira offers other dining options as well including sushi.  If you are just looking for a great sushi bar, our personal favorite is Pacific East which recently opened a location in Solon. 

A Healthy Option

healthy eating in Solon Oh

 

 

While many of the above restaurants offer healthy food items, we do understand that some folks keep a very strict diet. There are some great options for those who are vegetarians, vegans, or just like to eat really healthy. Mustard Seed Market and Cafe offers a little of everything, from prepared foods, to smoothies, and even a salad bar. Organic Energy Restaurant and Power Juice Cafe is also a good choice, and open until 8PM on Friday and Saturday evenings.

 
View A Night Out In Solon – Where To Go? in a larger map

Interested in more food and entertainment in Solon – just let us know what you are looking for and we’ll “dish” it up!

Other Articles Of Interest Pertaining To Solon Ohio:

Solon – A Special Community

Money Magazine Ranks Solon Top Places To Live

Newsweek Ranks Solon On Top Schools List

Solon Schools

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Solon luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Solon OH real estate and homes see Solon real estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL SOLON OH HOMES FOR SALE BY CLICKING BELOW

 

search all solon homes for sale

 

CHECK OUT THE SCHUMAN TEAM’S AWARD-WINNING WEBSITE


 

A Night Out In Solon Ohio – Where To Go? is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010