Category Archives: luxury homes

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

Executive Rentals In Cleveland Ohio

Finding a luxury rental home in some cities may be simple, but it is fairly difficult here in Cleveland.  If you are relocating to the area and wish to rent a high-end property, it is important that you have realistic expectations. Having personally relocated many years ago, we know what it’s like finding a great rental here and it’s not easy.

In this post, we will discuss the limited inventory,  reluctance for sellers to consider renting, and the need to hire an agent with the right connections.

 

LIMITED INVENTORY


 

 

 

 

 

 

 

Unlike many larger US cities where renters often have numerous options, the number of high-end rental properties here in Cleveland is typically very low. In cities like Miami and New York, it is not uncommon for affluent members of the local community to own several homes across the country, making it easier for them to offer one for rent.

In Cleveland, the number of folks who fit this category are much fewer.  Although there are quite a few snowbirds, these homes wouldn’t be available as year round rentals.

Many people think that today’s slower real estate market means that more sellers should be willing to rent, thus increasing the inventory in that market.  This is not the case.

In the lower-end housing market, there are a ton of affordable rental options as these sellers are typically more financially motivated to rent.  When it comes to luxury homes, some owners either don’t need the money bad enough to take on the risks of renting, or don’t want others living in their home.

LUXURY SELLERS RELUCTANT TO RENT

Unlike other sellers, luxury home sellers are not usually as excited at the thought of offering their home as a rental property.  While many would love to have monthly income coming in, they view renting as a possible risk.

Most people have never been landlords and the thought of renting their home is a little bit scary. Many have put a lot of time and money into their homes, and simply don’t want strangers living there.  There is certainly the fear that renters, people who have no vested interest in the home, will not properly maintain the property.

YOU NEED THE RIGHT AGENT

Working the luxury rental market is a specialized skill that not every agent possesses.   Not only does an agent need great relationships with all the local luxury “players” and local company real estate managers, but they also need to have the proper contacts deep inside the communities as well.  Friends and past clients living in specific areas are often a great resource in finding potential rentals.

The most challenging transactions I ever had were finding high-end housing for local professional athletes. The players themselves were great, but finding the right place was a daunting task.  It took a lot of time and I couldn’t have done it without my “golden rolodex” of contacts.

If you are moving to Cleveland and want to rent a luxury home, it’s certainly possible but will require patience and flexibility. You will also have to be prepared to act quickly as there is high demand for this type of housing.

In the end, your success will likely be determined by having a knowledgeable local luxury agent by your side.

Here are other articles of interest pertaining to finding Cleveland area homes:

Choosing An Agent: Local Is Better

How To Choose The Right Neighborhood

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About The Authors

The above information pertaining to Cleveland luxury  homes was provided by Dan and Amy Schuman of The Schuman Team Howard Hanna.

Dan is an Accredited Luxury Home Specialist and Amy is a Certified Luxury Home Marketing Specialist. They can be reached at:

216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

Executive Rentals In Cleveland Ohio is the property of The Schuman Team and may not be duplicated or used without their written consent. ©September,2011

Solon Ohio Luxury Homes – The Complete Guide

Solon Ohio Luxury homes

The following is a complete guide to luxury homes in Solon, Ohio.   We have included videos, maps, links to more detailed information on specific neighborhoods, and even a way to search for Solon luxury homes.

SOLON OHIO LUXURY HOMES

To begin, a home in the Cleveland Metropolitan area is categorized as “luxury” if it over $500,000 in value.  In addition to exceeding this specific price point, a luxury home will have specific qualities such as:  highly desirable location,  quality of construction and finishes, and amenities such as a special view, state of the art appliances, or even energy efficient systems.

Here is a list of subdivisions in Solon, in alphabetical order, that contain luxury homes:

Chagrin Highlands – Large development of luxury homes on 1 acre lots as well as cluster homes.

Forest Hills – A tucked away neighborhood of highly sought out luxury homes on private lots.

High Point – Conveniently located just off Cannon Road in the northern part of Solon. Close in proximity to the highway.

Horseshoe Farms – Small street of homes located off Cannon Road in the western part of Solon.

North Park Estates – One of Solon’s premiere luxury home communities located in the northern part of town.  Convenient highway access makes this very popular for those commuting downtown.

North Woods – Small development off Cannon Road, in the western part of town.

Rollingbrook – One of Solon’s most picturesque and exclusive areas.  All homes here sit on at least 5 acres of land.

Signature – One of Northeast Ohio’s only gated golf course communities.  This upscale development of fine luxury homes is divided into two phases. Signature I is closer in proximity to the clubhouse and golf course while Signature II is closer to the pool and has larger lot sizes.

Stillwater – Luxury home street in the north part of Solon.  Homes sit on nice wooded lots.

Thornbury -  One of Solon’s newest developments of luxury homes.  This subdivision is known for it’s neighborhood feel complete with its own playground and walking path.

The Woodlands -  Small development on one street located off Aurora Road.  Homes sit on nice wooded lots.

Below is a sample video of a Solon Ohio luxury home neighborhood:

Here is a map showing the location of all Solon Ohio luxury homes:

View Solon Luxury Home Developments in a larger map

For more information or to see specific homes in these neighborhoods, call us at 216-346-3235 or email us at danschuman@howardhanna.com
To search Solon luxury homes for sale, or to see what your home is worth, click below.

Homes For Sale in Cleveland OH What's my Cleveland Home Value

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About The Author

The above information pertaining to Solon Ohio luxury  homes was provided by Dan Schuman of The Schuman Team Howard Hanna.  Dan is an Accredited Luxury Home Specialist and has lived in Solon, Ohio for the last 10 years.  He can be reached at 216-346-3235 or via email,  danschuman@howardhanna.com.

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 Homes – The Complete Guide is the property of The Schuman Team and may not be duplicated or used without their written consent. ©April,2011

North Park Solon Ohio Luxury Homes

North Park is  one of Solon Ohio’s premiere luxury home developments. The following will describe this wonderful neighborhood and even include a video tour of homes in North Park at the bottom.

LOCATION OF NORTH PARK

North Park is located in the upscale city of Solon, Ohio, one of Cleveland area’s most popular East side suburbs.  This development is especially popular because of it’s easy highway access.

While Solon in general is a manageable drive to both downtown and the airport, North Park is especially sought out because it is closer to the highway than any other comparable Solon luxury home development.

The following map will give you an good idea of specifically where North Park is situated:


View North Park of Solon in a larger map

HOUSING IN NORTH PARK

The North Park development  consists of approximately 45 homes.  All homes were built within the last 10 years by local area builders, Dinallo and Wittrup homes, known throughout the area for their quality of construction and attention to detail.

One feature of North Park that stands out is that homes are situated on 1 acre lots.  This is a rarity for Solon as many luxury homes here don’t offer as much land.

Homes here have open floor plans and are colonial in style. Some homes have master bedrooms on the first level, while others have all bedrooms on the second floor.  All have at least a 3 car garage.

Most homes here are about 4500 square feet, have at least 4 bedrooms and typically 5 baths.  The homes have luxury amenities  throughout such as high-ceilings,  upgraded flooring and top of the line appliances.

The landscaping in North Park is spectacular, which gives the neighborhood a very elegant and impressive feeling as you drive through.

The price range for homes in North Park is $500,000-$1,000,000.

WHY PEOPLE ENJOY LIVING IN NORTH PARK

We have clients who live in North Park and really enjoy their homes and the neighborhood.  Obviously, the location is a major bonus to them.  But they have mentioned that they have met many of their neighbors and feel like they are part of a nice close-knit community here.

There are also sidewalks throughout the development, which always seems to bring people together, especially during warm weather months.

Children who live in North Park attend the following Solon Schools:

Lewis Elementary

Orchard Middle School

Solon Middle School

Solon High School

Solon is consistently rated among the most popular suburbs in Cleveland and has been featured in many national and local publications. It was recently ranked by Money Magazine as one of the best places to live.

Below is a video tour of North Park that highlights the homes and the neighborhood:

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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 are Solon residents and can be reached at 216-346-3235 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

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.

North Park Solon Ohio Luxury Homes is the property of The Schuman Team and may not be duplicated or used without their written consent. ©February,2011

The Art Of Working With Athletes

As luxury home real estate agents, we have had the opportunity to work with many professional athletes here in Cleveland and wanted to share our experiences. This may be helpful to other professionals who may one day encounter such a client, or provide insight for those of you who are just curious to know what it’s like.

Overall, it isn’t as glamorous as you would think, although we have walked away with interesting stories and some good relationships. It is also nice to know that, once you get to know them, most athletes actually aren’t alot different than you and me.  They just have a very high-profile job that requires them to delegate a lot of their non-sports related responsibilities to others.

The most important thing about working with any high-end client, regardless of what they do for a living, is discretion. Luxury home clients, especially athletes, value their privacy, therefore, confidentiality is critical. While it may seem cool to tell your friends and co-workers that you are working with “so and so”, that is bad business and simply cannot be done. In fact, we never reveal the identities of any of our clients, no matter who they are, not even to our children.

Working with athletes has some similarities to working with a typical client but does require a different approach and mindset. In most cases, at least initially, there is no direct communication with the client. In fact, there is one player that I never actually met in person. Athletes and celebrities have a “team” of people surrounding them, so you will most likely work with a business manager or agent. You have to be prepared and comfortable working in this manner.

Servicing an athlete is no different than that of any other high-end client. Just like a high powered business executive, athletes are busy people. Their time is extremely valuable and limited, so you must work efficiently, and often with little notice.  When it comes to actually finding a home for an athlete, they want their home to fit their lifestyle. That being said, the lifestyle of an athlete is different than most.

For example, in additional to wanting to live in close proximity to  sports facilities and the airport, many require very specific things in their home. Some require a gate, or gated community. They may also want specific features in a home such as a pool, theater room, exercise room or basketball court. I had one athlete walk into a home and spend most of his time in the incredible lower level  ( it had a really great theater room, trophy room, and bar ) as this was the most important thing to him. He spent all of about 5 minutes walking through the rest of the home and ended up buying it.

Overall, athletes have housing needs just like everyone else, although working with them does present a few additional challenges. From our experience, many are very nice and were appreciative of our efforts.  A few were actually quite interesting and entertaining ( think Cuba Gooding Jr. in “Jerry Maguire” ).

So, if you ever have a chance to work with a professional athlete, don’t be intimidated by the process, and just make them happy as you would any other client.

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About The Authors:

The above information pertaining to Cleveland luxury homes was provided by The Schuman Team, Amy and Dan, of Howard Hanna. Dan is one of Ohio’s only Accredited Luxury Home Specialists and Amy is a member of the Institute For Luxury Home Marketing.

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

The Schuman Team services 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.

The Art Of Working With Athletes is the property of The Schuman Team and may not be duplicated or used without their written consent. ©December,2010