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Wednesday 15 January 2020

Solid Single Family-Home pricing sales in November in NE Ohio


This article comes from https://www.crainscleveland.com/ and the article has really solid numbers for the 2019 in the Cleveland Metro area!

"The service, which covers 18 counties from Ashtabula to Coshocton, reported there were 3,462 sales of single-family homes in November, up 0.4% from sales of 3,450 in November 2018. For the year to date, sales are up 2.6%, to 41,784 in the January-to-November period in 2019, compared with 40,741 in the like period a year ago."

That is great news for home sellers, and really effects the prices on their equity and puts money in their pockets.  The inventory is very low and that is a good and bad thing. The good part is if you can get a good deal on a home you have a huge advantage over other potential home buyers.

The Bad thing would be not being able to get good solid homes for you or your portfolio. I was with a client yesterday that had a home in escrow that was not all that great of a deal. There where many repairs and the home would take a long time to rehab. Time is money and the more rehab the more extra cost that could happen during the rehab. That is where I can help my clients understand the cost and timelines.

We got 50+ properties for our clients last year and they where all great deals and more importantly our clients are very happy!

"There were fewer new listings in November than in the like month a year ago: 3,809 vs. 3,872, a drop of 1.6%. For all of 2019, new listings are up slightly, by 0.8%, to $59,870 from 59,414 in the January-to-November period of 2018."

The key to good real estate, is that home prices are going up in Ohio. In Cuyahoga county the homes prices where up 6.9% and that is a nice healthy growth, That is why it is so important to buy real estate in the right areas to live and to create income in. Equity is a real wealth builder and can mean more profit for your portfolio.

I am trying to sell a few of my clients properties that are in not so good areas (I did not purchase them) and they are really hard to sell. The properties are seeing loses and there is no consistent income from these properties. So they just sit there until the investor realizes that they need to just take the lose and buy quality real estate. 

"In Cuyahoga County, year-to-date sales were up 3% (14,580 vs. 14,157 in 2018) and the average sale price was up 6.9%, to $185,310."

Lastly having one in the in the local area that is a Realtor and has an investment real estate background is very important to your success. Even if your just buying a home to live in a Realtor that has Investment background usually gets better deals, which gives you more equity.

Me personally I have done 100's of investment real estate deals and many retail real estate deals. I would love to be your Realtor for all your real estate needs...Call me I'm Brett 216-703-5740 ICON Agent for 2 years at EXP Realty

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