Posts Tagged ‘ Cleveland ’

The State of the NE Ohio Real Estate Market. Is it Boom, Bust, or Something Else?

You can probably guess this, but I vote for ‘something else.’ Before I get to that, let’s do some statistics. Thanks to Mike Wright of our MLS NORMLS system for putting together market stats.

January 2008 saw 5,462 listings on the market in our six county area of NE Ohio. (This includes Medina, Cuyahoga, Lorain, Lake, Geauga and Ashtabula.) This was an 84.1% increase from the same time frame in January 2007.

There were 1,112 homes sold (single family) in January of 2008 in the six county region. That was a 25.5% decline over last year’s figures.

The lowest sale price was $1.000.00 (yes, you are looking at that correctly, that is one thousand). The highest sale price in January 2008 was $1,825,000.00. Overall, sales prices are down about 50%.

The biggest factor, in my opinion, is the rate of foreclosures we are experiencing.

Tie that in with anyone who gets a job transfer and tries to sell a home when they have not owned it for a long period of time and well, they might be in a short sale or foreclosure situation, too.

Some of this is sobering, yes. There are some up sides, however.

The interest rates may be hovering closer to 6% now, but is that still not better than the 14% rates I had as a homeowner in the 80s? And home buyers are finding they have a larger choice of homes available than they would have a few years ago. Continue reading this post


Posted by: Carole Cohen on March 18th, 2008 under Guest Bloggers, Regional


Invasion of the Guest Bloggers: The Third Wave

We have been very fortunate to have attracted some of the top guest bloggers in the country to the HomeGain real estate blog.

Quality attracts quality and we have received numerous requests by bloggers all over the country to contribute. Next up we have two established bloggers: Carole Cohen and Mike Farmer.

Presenting: Carole Cohen

Carole, a former school teacher, blogs about real estate in Cleveland and the Northeast Area of Ohio in her blog, Cleveland Real Estate News.

Carole is passionate about the Cleveland area and returned to her native city 10 years ago after an extended period away. She is committed to working with first time home buyers and those relocating to the Cleveland. Carole considers herself an expert in the Cleveland area and we expect her to be contributing posts that share her real estate knowledge as well as expertise regarding her beloved hometown.

Presenting: Mike Farmer

Mike Farmer is the owner broker of Mike Farmer Realty in Savannah, Georgia. Mike is also an accomplished blogger contributing to the BloodHound Blog and the Bigger Pockets Blog. Mike loves philosophy, poetry, writing and real estate. He covers all of the preceding topics at his own blog the Bonzai Real Estate Blog. We look forward to Mike’s first blog post on how to manage online leads later this week. Continue reading this post


Posted by: Louis Cammarosano on March 17th, 2008 under Guest Bloggers


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