Monthly Archives: July 2012

Solon Ohio Real Estate – Mid Year Review 2012



 

The following is our official mid year review for real estate in Solon, Ohio.  Here, we will provide statistics for the most recent month of June, offer a comparison between the first half of 2012 and the same time period in 2011 and also give specific statistics for the Solon luxury home market. We will also include a summary at the end of the report.

 

Date                   # of homes sold      Ave. Sales Price             

June 2012                33                        $313,531

June 2011                27                        $295,706

 

YTD 2012                 100                       $294,691

YTD 2011                 103                      $277,728

 

LUXURY HOME STATISTICS

 

 

 

 

 

 

 

 

Date                   # of homes sold      Ave. Sales Price             

YTD 2012                   15                       $625,780

YTD 2011                   13                       $628,846

High Sale – $920,000

*source NEOHREX ( Regional MLS )

 

SO, IS THE MARKET FINALLY IMPROVING?

The statistics above are a decent reflection of the market, but don’t quite tell the entire story. While overall sales are similar to last year, the inventory of available homes is down close to 30%. This is resulting in a more balanced market with multiple offer situations  ( bidding wars ) occurring on a regular basis.

In terms of Solon luxury homes, those that sell for at least $500,000, the numbers are similar to last year but moving in a positive direction. Not only is there increased activity in the higher-end market, but homes are selling much quicker as well.  The average days on the market for a luxury home in Solon has drastically decreased, from 224 days in 2011 to only 168 so far this year.

WE NEED MORE INVENTORY

Moving forward, we anticipate low inventory and historically low interest rates will help in the recovery of the local Solon real estate market. If you or someone you know is thinking of selling their Solon home, please call us! There really is a shortage of nice homes on the market, especially is a few specific price points.

Overall, while things certainly aren’t where they were 5-6 years ago, we are seeing improvement, which is a good thing for all of us who call Solon home.

 

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans 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 Real Estate – Mid Year Review 2012 is the property of The Schuman Team and may not be duplicated or used without their written consent.©July 2012

Not All Real Estate Agents Are The Same

During the course of our career, we have received a lot of feedback from our clients about their past experiences with a real estate agent. It seems like everyone has a different story but the conclusion is the same: not all agent are alike.

In today’s post, we wanted to bring to your attention that every agent works a little differently, even ones that work for the same company. If you are looking for an agent, the following list can be used as a helpful guide.

WHAT TO LOOK FOR IN AN AGENT?

Regardless of if you are a first time buyer or have gone through many real estate transactions, here is a list of qualities that consumers find important in an agent.*

1.     Knowledgeable – An agent should be able to share with you a wealth of information not only about the buying or selling process but also of the specific areas in which you plan to buy or sell. Remember, knowledge is power and your agent needs to be a huge asset here.

2.     Honesty – So how can you tell if an agent is honest? You can begin by talking to people who have used a particular agent. You can also usually get a gut feeling if an agent you are speaking with is genuine.  Asking good questions will reveal a lot about how an agent conducts their business and if they will be looking out for your best interests.

3.     Communicative – This is a big one if you want to have a smooth and pleasant experience. A good agent should have specific systems in place to make sure they are efficiently communicating with you during the entire process. Ask an agent about their communication plan for their clients. If they don’t have one then you may have to question the level of customer service you plan to receive.

4.      A Good Negotiator – If you ask 10 real estate agents if they are good negotiators, I guarantee all will say “yes”. So, you may just want to ask an agent about their negotiation skills and what it means to you as their prospective client. What they say here will tell you a lot about their style and if they will be a good fit for you.

5.     Good People Skills – This one kind of helps bring all of the above mentioned characteristics together. Not everyone is blessed with good people skills but an agent who has them is worth their weight in gold.

Keep in mind that this certainly isn’t an exhaustive list. You may personally want your agent to possess certain qualities that we didn’t cover here, and that’s ok. At the end of the day, you as the consumer need to define what qualities are important to you,  and don’t be afraid to be very particular.

Remember, shopping for an agent is similar to looking for a home. There are a lot of them out there so you need to take your time to find the right one.

* Per National Association Of Realtors® Home Buyer/Seller Profile

 

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans 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.

Not All Real Estate Agents Are The Same is the property of The Schuman Team and may not be duplicated or used without their written consent.©July 2012