2112 Acacia Park Dr. #601 Lyndhurst OH 44124

• 2 Bedrooms and 2 1/2 Baths
• Over 2000 Square Feet of Living Space
• South Euclid/Lyndhurst City Schools
• MLS # 2497831
• $140,000

Luxurious Acacia Penthouse!

The good life is your is this soaring New York-style penthouse! Open and airy with glass doors opening to 2 balconies.  Expansive living and dining room! Den with custom built-ins and wet bar. Master with dressing room and walk-in closets! Second bedroom also has large walk-in closet.  Fabulous Value!

Virtual Tour: http://vt.realbiz360.com/MLS-76746.html

More Photos and Information on 2112 Acacia Park Dr. #601 in Lyndhurst

Greater Cleveland Homes for Sale

How Much is Your Lyndhurst Home Worth

For More information on this home for sale in Lyndhurst, OH Please contact Erin Snyder Oakley at theWeiner Real Estate Group at 216-410-8221 or Erin@NoPlaceLikeCleveland.com.

Is it true, have Greater Cleveland home sales really hit bottom? 

If you read the Plain Dealer this morning then you saw the front page article that the Cleveland housing market has hit bottom.  Finally affordability is luring buyers back into the  market. 

"Tuesday the standard & Poors/Case-Shiller Home Price index showed that home values in the Cleveland area increased by 1.1% from July to August.  Of 20 metro areas, only Cleveland and Boston recorded increases.  Boston's was only .1 percent."

If this is the case then I am calling all HOME BUYERS!!  Get off the sidelines and get into the market.  This is your chance to get the best deal.  I know a lot of buyers right now have been hesitant to pull the trigger because they weren't sure if prices were going to go down even more.  Well, the only way to know the bottom is when the prices start to go up.  This is the time to buy. 

If you are interested in taking advantage of the Greater Cleveland Buyer's Market call Erin Snyder Oakley at 216-410-8221 or email: Info@NoPlaceLikeCleveland.com  

Homes for sale Cleveland

Market Snapshot 

I-77 ramps on East 14 and East 21st streets will be closed today, read below for some suggestions on alternative routes.

The Southbound ramps on I-77 at E. 21st and E. 14th streets will need slope and catch basin repairs said The Ohio Department of Transportation (ODOT) and will be closed for two weeks starting today.  The ramps will re-open on Nov. 5.  In the meantime traffic is going to be a little hectic. 

The main detour is for traffic to go to Orange Avenue southbound to I-77 southbound. But Cleveland.com has looked into a couple different routes that may work better. 

Go east on Prospect (or Superior or Chester) to the southbound Innerbelt (I-90 west). Take that to the I-77 ramp.

Go east on Carnegie (or Prospect, Superior or Chester) to East 30th, then south to Orange. Turn left to the I-77 ramp.

Go east on Chester or another through route to East 55th, then south to I-490 west. Take that to the I-77 junction.

Check out this map from Google Maps:  http://maps.google.com/maps?f=q&hl=en&q=E+14th+St,+Cleveland,+Cuyahoga,+Ohio+44114,+United+States&sll=39.99869,-82.977676&sspn=0.021139,0.045319&ie=UTF8&cd=2&geocode=FRBReQId05Mh-w&ll=41.494636,-81.679412&spn=0.005167,0.01133&z=17  For some more ideas.

Greater Cleveland Homes for Sale 

 How much is your Greater Cleveland Home Worth

If you are interested in taking advantage of the Greater Cleveland Buyer's Market call Erin Snyder Oakley at 216-410-8221 or email: Info@NoPlaceLikeCleveland.com

Cleveland Heights neighbors and investors were a buzz Sunday with the auction of 2900 Fairmount Blvd.  The old mansion was listed in the MLS for $1 (MLS # 2488204).  It has created lots of attention because of the size and history behind this old house. 

(picture Courtesy of NORMLS)

The house is a 10 bedroom 9,000 sq. feet mansion that was once glamorous.  The third floor speak easy was something to be seen.  It is equipped with booths, bar and stage.  Finding it was like stepping back in time to an era made familiar by mobster movies.   

The Auction was held by Thomas Michael Auctions, located right here at Keller Williams Realty Greater Cleveland.  And contrary to what a lot of people think, this auction was not a foreclosed property or a sheriff sale. 

Sellers sometimes use the option of an auction when they would like a quick sale with a binding contract.   In this case the the house needed a lot of work, but the auction made it possible to get someone inside to see the possibilities and buy it at a price the seller is comfortable with. 

Although the house was advertised at $1 there is a lot more to an auction.  If one wanted to participate they needed to come to the house on Sunday equipped with a cashier's check for $5,000.  Also, the auction was a reserve auction which means bidders needed to reach that a secret amount to get the house sold. In the case of Fairmont Blvd, the reserve was not met, however the highest bidder was able to negotiate with the sellers and come up with a price and the mansion did sell.  We won't know what the amount is until the house closes.    

If you think your Greater Cleveland Home might be a candidate for auction pleases contact Erin Snyder Oakley at 216-410-8221 and she can help you get in touch with Thomas Michael Auctions.  Or if you are interested in buying or selling your Greater Cleveland home contact Erin Snyder Oakley at 216-410-8221 or by email at  Erin@NoPlaceLikeCleveland.com

 Greater Cleveland Homes for Sale 

 How much is your Greater Cleveland Home Worth

Calling all brave Greater Cleveland Home buyers, now is the time to buy your dream home!

Currently Greater Cleveland is a 'Buyer's market'.  In other words, buyers are in charge.  We all know that the news on the current market is scary and we don't know what tomorrow will bring,  but I can promise you one thing... If you have good credit, don't have a house to sell and want to move this is the best time to do it! 

Below you find advantages to a buyer's market:

1) Inventory is up in neighborhoods leading to a price war:  It is the same old story of supply and demand.  Currently the supply is so great that sellers are forced to price their homes well below the competition just to get people to notice them.  Shop around and get a sense of what  fair market value is in a neighborhood. Chances are it is a lot less then it was 5 years ago.

2) Mortgage Rates are Down: Did you know that in the 80's mortgage rates were up around 18%-20%.  Compare that to the today's mortgage rates.  Right now you can lock in a 30 year fixed mortgage for a lot less, saving you lots of money.

3) There is a Huge Opportunity To Purchase 'More House':   "If prices have fallen at the same rate on all homes in your market, the discount, measured in dollars, will be bigger for a more expensive house.    Say you're in a $200,000 home and want to move up to a $500,000 home. Your cost of upgrading will be $300,000.  But if prices drop 10 percent, your current house is worth $180,000; the one you've got your eye on is worth $450,000. Cost to upgrade: $270,000."

 4) Hire a Buyer's Agent to represent you:  ABC News is a genius! They say that  you should "make sure you hire a buyer's agent who only represents you, and does not have any connection or obligation to the seller."  Ellen and I at the Weiner Real Estate Group are perfect for that job.  We represent lots of buyers to make sure they get the deals they deserve.  It just makes sense to have someone working on your behalf.  Oh, and did  we mention that the seller pays the realtor commission not the buyer. 

 Greater Cleveland Homes for Sale  How much is your Greater Cleveland Home Worth

If you are interested in taking advantage of the Greater Cleveland Buyer's Market call Erin Snyder Oakley at 216-410-8221 or email: Info@NoPlaceLikeCleveland.com

10 Ways to get Your Greater Cleveland Home Ready for Winter

Even though it feels like summer outside, this is the perfect time to get your house ready for Winter.  Here are Some Great tips to prepare your home.

1)      Get your Furnace inspected.

•          Fall is the best time of year to get your Furnace inspected.  Call a HVAC professional to do this and also have them clean the ducts.
•          Make sure you have plenty of furnace filters and change them monthly.
•          Remove all flammable material for the area surrounding your furnace.
•          If you home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them.

2)      Install Smoke and Carbon Monoxide Detectors

•          Change the batteries in all your smoke detectors. 
•          Install a carbon monoxide detector near your furnace.
•          Test all smoke detectors and carbon monoxide and make sure they work.

3)      Check Doors and Windows for Drafts

•          Add weather-stripping or caulk any holes that allow heat to escape.
•          Make sure doors seal properly
•          Switch out summer screens with storm doors and windows
•  

4)  Trim Trees and Remove Dead Branches

•          Ice, snow and wind could cause weak tree trunks or branches to break you don’t want them to land on your roof or worse hurt someone walking on your property

5)      Clean Gutters and Downspouts

•         Use a hose to spray debris away in gutters and downspouts.
•          A major cause for roof leaks and basement water is clogged gutters.

6)       Turn Off Outside Water Valves

•          Once water is off make sure to open nozzle outside and flush out any remaining water

7)       Inspect your roof

•          Fix any roof shingles or tiles
•          Check flashing to ensure water cannot enter the home

8)      Service Weather-Specific Equipment

•         Drain Gas from Lawnmowers
•          Service or tune-up snow blowers.
•          Replace worn rakes and snow shovels
•          Clean, dry and store summer gardening equipment

9)       Insulate

•         MSN reports why this is necessary 

10)   Prepare an Emergency Kit

•          Buy indoor candles and matches/lighter for use during a power shortage
•          Find the phone numbers for your utility companies and tape them near your phone or inside the phone book
•          Store extra bottled water and non-perishable food supplies, blankets and a first-aid kit in a dry and easy-to-access location

Greater Cleveland Homes for Sale  How much is your Greater Cleveland Home

For more information on the Greater Cleveland housing market or if you are looking to buy or sell a home in the Greater Cleveland area please contact Erin Snyder Oakley at 216-410-8221 or email Erin@NoPlaceLikeCleveland.com

Here is the September Market report for Chagrin Falls, OH.

Chagrin Falls' tree-lined streets, well-kept houses and charming shops are as much of the character as the actual falls on Chagrin River in the village's center, where residents enjoy a moment to reflect on life.  Chagrin Falls is the quintessential, serene community many have come to desire as a relocation option when searching for a new home.   See below for September Market report.

There are currently 77 active listings on the market in Chagrin Falls. The average list price is $412,758.

These homes have been on the market an average of 114 days.

Homes that are now under contract are the most recent successes, these sellers have reached their goals.

There are currently 7 pending listings in Chagrin Falls.

These homes have been on the market an average of 64 days.

Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.

There were 7 properties sold since July 31, 2008 in Chagrin Falls.

These homes were on the market for an average of 172 days.

The average sale price of $230,190 divided by the average list price of $241,557, tells us

that sellers are accepting, on the average, 94% of the list price.

Homes that have been on the market and never sold tell us a story.

The total number of market rejected homes (expired listings) since July 31, 2008 is 25.

These homes have been on the market an average of 190 days.

Here is the September Market report for Solon, OH.

Solon is the 14th largest Combined Statistical Area in the United States. And the city was listed by Money as 42nd in its list of "Best Places to Live."  Known for great schools and a great community center Solon's market times are among the lowest of all our market reports.  Please see below for details.

There are currently 190 active listings on the market in Solon. The average list price is $385,531.

These homes have been on the market an average of 122 days.

Homes that are now under contract are the most recent successes, these sellers have reached their goals.

There are currently 23 pending listings in Solon.

These homes have been on the market an average of 96 days.

Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.

There were 16 properties sold since July 31, 2008 in Solon.

These homes were on the market for an average of 115 days.

The average sale price of $281,528 divided by the average list price of $295,109, tells us

that sellers are accepting, on the average, 96% of the list price.

Homes that have been on the market and never sold tell us a story.

The total number of market rejected homes (expired listings) since July 31, 2008 is 42.

These homes have been on the market an average of 181 days.

Continuing our market report series, here is the Market Report for Pepper Pike from July 31 to September 30,2008.  Pepper Pike has a population of 6,000.  This report takes averages from the whole city.  

There are currently 97 active listings on the market in Pepper Pike. The averagae list price is $589,293.

These homes have been on the market an average of 127 days.

Homes that are now under contract are the most recent successes, these sellers have reached their goals.

There are currently 4 pending listings in Pepper Pike.

These homes have been on the market an average of 94 days.

Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.

There were 6 properties sold since July 31, 2008 in Pepper Pike.

These homes were on the market for an average of 194 days.

The average sale price of $368,017 divided by the average list price of $385,783, tells us

that sellers are accepting, on the average, 96% of the list price.

Homes that have been on the market and never sold tell us a story.

The total number of market rejected homes (expired listings) since July 31, 2008 is 25.

These homes have been on the market an average of 195 days.

Here is the September Market report for Cleveland Heights Home Sales.

Cleveland Heights is a large suburb with a wide variety of housing options.  This report takes the whole city and looks at averages. There are 50,750 residents in Cleveland Heights.  For more information about the Cleveland Heights Neighborhood check out the Cleveland Heights Neighborhood Report.

There are currently 524 active listings on the market in Cleveland Heights.

These homes have been on the market an average of 114 days.

Homes that are now under contract are the most recent successes, these sellers have reached their goals.

There are currently 60 pending listings in Cleveland Heights.

These homes have been on the market an average of 86 days.

Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.

There were 43 properties sold since July 31, 2008 in Cleveland Heights.

These homes were on the market for an average of 77 days.

The average sale price of $67,973, divided by the average list price of $73,189, tells us

that sellers are accepting, on the average, 92% of the list price.

Homes that have been on the market and never sold tell us a story.

The total number of market rejected homes (expired listings) since July 31, 2008 is 168.

These homes have been on the market an average of 154 days.

The Greater Cleveland Real Estate Market is not as bad as you think. Greater Cleveland homes don't sell as quickly as they used to, but there are homes that still that sell.  So What is going on?

Up until about 2 years ago the Cleveland housing market was booming.  Just like the rest of the country.  It was what we realtors fondly refer to as a "sellers market."

Because lenders were making it easier to own a home, demand went up.  And so did prices.  We saw a lot of multiple offers, two or three bids on the same house, driving the price over asking price. Houses literally came on and off the market in one day.  Or that is what I hear anyway.  I was still in college for all of this and later in Chicago working as a media buyer.  So these so called "good years" are just a myth to me. 

So how did we get here? We are in what we call a "buyers market." There is lots of inventory and lower prices.  Gary Keller, founder of Keller Williams and industry expert, has come up with some answers on the subject.  

First, he says, we need to start with the mortgage meltdown that happened in 2007. Troubled subprime loans, ARMS resetting, increased foreclosures, mortgage delinquency leading to bankruptcy all were factors of this meltdown.  Up until this point the mortgage industry went largely unregulated and there were way too many predatory lenders.  Bottom line both the mortgage industry and Wall Street tried to expand the pie that should not have been expanded.

Gary Keller says these practices have a domino effect on the housing market.  Lenders pull back, buyers find it difficult to obtain financing, housing inventory grows, sellers resist dropping prices, homeowners default, and then finally prices begin to drop. Inventory continues to build and prices continue to drop. Confidence continues to slip and buyers become reluctant and wary. Housing sales decline.

Also at issue says Keller is Affordability. Affordability is and always will be the primary real estate issue.  When affordability drops to low or two fast a market correction has to occur. The more dramatic the run-up in home appreciation, the steeper the decline in sales and prices will be at some point.   In the past when the housing market was booming, prices were going up very fast. Here in Cleveland we hit a peak where houses were no longer affordable.  In 2007 households needed to use 22% of their median income to afford the median priced home. 

The bigger the gap between median home price and affordability the bigger the fall when the market shifts.  As affordability drops the number of qualified buyers drops.  This decline of buyers is a reduction of demand.  And in anything as demand drops, supply goes up prices drop and buyers become more reluctant.  This is very evident in our Cleveland market. It is now time to correct it.

In a "buyer's market" which, real estate becomes a commodity. These days buying a house could be seen the same as buying a box of paper clips.  

Buyers are now the ones that set the prices. So the answer to the question is the market really bad, is no.  There is not a shortage of buyers,  but we do have a shortage of realistic sellers willing to price their house to sell.

Greater Cleveland Homes for Sale

How much is your Greater Cleveland Home worth

For more information on the Greater Cleveland housing market, or for information on selling your home, please contace Erin Snyder Oakley at 216-410-8221 or Erin@NoPlaceLikeCleveland.com

Here is the September market report for Shaker Heights Home Sales.  

October brings Fall and Halloween. This year It also brings us an economic bail out bill, and the election is right around the corner. If you are like most Shaker Heights residents you might be wondering what all this means to the housing market.  here has been what is happening in the Shaker Heights Housing market since July 31, 2008.  

(Check back here this week for updates in Cleveland Heights, Pepper Pike, Chagrin Falls, and Solon. )

Shaker Heights State of the Market Report for Oct 1, 2008:

There are curently 366 active listings on the market in Shaker Heights.

These homes have been on the market an average of 110 days.

Homes that are now under contract are the most recent successes, these sellers have reached their goals.

There are currently 38 pending listings in Shaker Heights.

These homes have been on the market an average of 117 days.

Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.

There were 20 properties sold since July 31, 2008 in Shaker Heights.

These homes were on the market for an average of 108 days.

The average sale price of $145,290, divided by the average list price of $159,689, tells us

that sellers are accepting, on the average, 92% of the list price.

Homes that have been on the market and never sold tell us a story.

The total number of market rejected homes (expired listings) since July 31, 2008 is 77.

These homes have been on the market an average of 185 days.