New Concepts In Housing: Buy Once, Take It With You Wherever You Move?

And no, not an RV, nor a tiny house on wheels. Tenfold Engineering and G3 Industries have developed a house that unfolds in ten minutes. Well, that’s what they say! So even three hours would be remarkable yes?

I first read about this a bit over a year ago. They were going to unveil pricing in July of 2017 – I don’t see the pricing on the website yet but they seem to be touting one particular model now-though technically, they’ll be models for apartment buildings along with various style homes and other structures. Check out the video below ☺

What’s The Skinny on Housing Sales This 2017 Season In Kamm’s Corners?

Cleveland is divided into development corporation neighborhoods. There are over 30 neighborhoods, in a broad sense, within the City of Cleveland. The home stats I’m going to be discussing are under the auspices of Kamm’s Corner Development Corporation. Kamms is located at the northwestern end of the Cleveland. For those of you reading this who are not in Ohio currently, Kamm’s western border is Fairview Park and Fairview Hospital (which is part of The Cleveland Clinic) employees, among many others, enjoy living in Kamm’s.  Kamm’s Plaza for shopping, very close to the entrance of the Cleveland Metroparks, easy access to Big Met for golfing and just a general nice place to live.  Added good weather bonus: Kamm’s Farmers Market and every year,  The Hooley ! It’s so popular now, thousands of people come to enjoy the festivities.

How much would it cost you to live here and take advantage of all of the above and more? Prices, like most other neighborhood housing markets, are all over the map. Let’s examine the most popular purchases of late.

One thing has been true since I started in this business almost 15 years ago: Every time I do one of these analyses, I notice that 95% of the homes have shiny wood floors and have been nicely cleaned up for showings. Definitely worth remembering if you are thinking of selling your home!

What’s happening with housing in Kamms 2017? It’s barely the beginning of August so we are still in the traditional home buying season. Let’s start with stats which are most current:

The Past Ten Days  Yes, let’s start there because it’s the most current information.  8 homes had activity during the past ten days. Four homes went under contract and are listed as ‘contingent.’ This means the buyers and sellers agreed on a price, went under official contract and are now waiting for either a mortgage loan commitment or an inspection result and agreement, or both. Initial stages of the contract. These four homes averaged 2 bedrooms, 1 bathroom, were built between 1940 and 1951. They averaged about 1200 sq. ft. of living space. Their listing prices (we don’t know final sale prices till they change ownership) were: $55k, $94,900, $129,900 and $137,500. Each of the four was on the market less than 45 days prior to going under contract.

There is one house listed as ‘pending sale’ which means it’s not waiting for a loan commitment or an inspection. It’s either been through the ‘contingency’ phase already or it was a cash purchase without an inspection. This home is listed for $63,000 and has 1,120 sq ft and 3 bedrooms/one bath. It was only on the market for 9 days before it went under contract.

Three homes closed, sold or transferred ownership at the courthouse, whichever way you want to look at it! I sold a home on Ferndale. The sale price was $117,500. It has 4 bedrooms, 2 full baths, a fenced yard, is a brick bungalow and sold a bit less than it could have due to it needing a more updated kitchen.  It was on the market for 86 days before we had an agreed upon contract between buyer and seller. One home sold on W. 142nd St for $143,000. This home has 3 bedrooms, 2 1/2 baths 1617 sq. ft. of living space. It was on the market for 46 days before being under contract.  The third one sold is on Edgecliff Ave. It sold for $169,833. It has 4 bedrooms, 3 1/2 baths, 2,468 sq. ft. of living space and was on the market just over two months.

How about the past three months? Pretty active time! 141 homes sold with the maximum sale price of $281,000 for a home on Scullin Drive. One of the most important stats, since it covers 90 days, is how many days on the market (DOM) were these homes listed before they had an offer accepted by both buyer and seller?  Average days on the market was 51 days.

Kamm’s is close to the City of Lakewood border, 10 minutes to Edgewater Park,  walking distance from most places to bus or rapid transit service,

15 minutes to Downtown Cleveland by car and 10-15 minutes from Cleveland Hopkins Airport. Last but not least, Kamm’s Plaza  It has a grocer, hardware store, Red Lantern (my favorite neighborhood place to eat, yes I live close by!) one of the last shoe repair places you can find in the Cleveland area and is only five minutes east of Weber’s Ice Cream shop… Important detail I think ☺

 

 

Western Lakewood Colonial Open House Tomorrow July 30th 1-3pm

I’m holding an open house tomorrow at 1326 Bonnieview Ave 44107
This is Western Lakewood, South of Clifton, North of Detroit.

This is a three Story colonial with 4 brs, 3 baths, central air, all the beautiful woodwork you’d expect in a home built in 1908. The owners added a crisp, white & stainless steel kitchen remodel.

  

Lots of other updates like refinished floors, HVAC, electrical and a beautifully finished 3 floor.
The private yard is deep (142′) and walking distance to things like  the Lakewood Family YMCA, El Carnicero, Lakewood’s Antique District and Game on Lakewood, a super cool bar/eatery. Residents and real estate peeps all joke there is a bar, a restaurant, a funeral home and a church on almost every corner. A slight exaggeration but we say it with love and admiration!  If you like living somewhere with a lot of brick and mortar entertainment value close by, Lakewood could be for you.

 

Offered at $189,000.

It’s going to be a day, so if you are in the market for a home, stop by from 1 to 3!

First Time Home Buyer Overview

This is an overview, a way to get you started and understanding  the process of buying a home.  A few things to consider:

At the beginning, the most important thing is talking with a lender.  Unless you are paying cash for a home, a lender is needed for two reasons: to provide you with a pre approval letter, which you will need to present at the same time as you plunk down a purchase offer on a home. It’s most critical to discuss finances right away. What you can afford is not just a phrase, it’s a comfort level for you – it’s crucial to know prior to going to see a home. You don’t want to have your hopes dashed and spend your precious free time looking at homes you really like but find out later you are not able to buy.

Second, a mortgage person you can rely on and feel comfortable with is a big help to you as you go along looking at homes. You can call a lender and they can take a home you saw on tour with sale price, taxes, insurance, any home owner fees or condo fees and give you a monthly estimate. This helps you weigh each property in terms of what you might want to buy…or not!

Third, you might get approved at a certain amount but when you see what the monthly payments are, you might say it would be better to take the price range down a notch because you know what your mandatory monthly expenses are over and above rent. You might not be able, or want to, give up some of these expenses.

Those are three reasons why a mortgage lender is your friend and a necessary part of your team from the beginning.

A Realtor® like me ☺ is the second part of your team. Think about the neighborhoods, towns, places that fit your needs or lifestyle. Do you want a walkable community? Do you want transit close by? Do you want entertainment and eateries? How long do you want your commute to be? Do you want a large back yard for dogs to play? Begin a list of about 5 items that will start out on your ‘need to have’ list. (By the way, this list can and probably will change as we go along. For now, a beginning list is helpful.) Some items might be wants and not needs. The word compromise will become important as well. You might wind up with things that are ‘need to haves’ that you weren’t aware of when you started, and some of your list of  initial needs might go by the wayside. You might change styles of homes you want after seeing some houses.  All of this is fun, just pointing out that being open to a flexibility of thought about what you want is very helpful!

We will begin our relationship and I’ll search out the homes that meet your initial criteria. I can email you a few homes right off the bat.  We can brainstorm a bit together about what you like and don’t like.  Example of what I mean: I send you five homes via email. You tell me you don’t like the floor plan on one and the yard is way too large to take care of on another. That helps me (and you!) understand how to search. When we do the brainstorming it helps start to formulate a game plan so that once you’ve gotten a price range settled with a lender, we can begin to look in real life not Internet life!

If you do the above, the entire home buying journey can be started with enough knowledge to keep stress out of the process and more enjoyable!