Jefferson West Park Recent Real Estate Stats

I’m going with the most recent information for the most part, and for a reason. For about 5 years Jefferson’s ‘selling’ season seemed to end around June 30th. But 2017 activity and sales in the Jefferson area of West Park are showing me that the ‘selling season’ has not stopped. In fact it’s still going pretty strong this 2nd week of August.

For those not familiar with it: Jefferson is an area with parks. Jefferson Park, which is on Lorain avenue between W. 132nd and W. 133rd. It’s about the size (and shape) of Lincoln Park in Tremont. A little over 3 acres. There are also tennis courts, a play ground and basketball courts.

Mohican Park is north of Lorain Avenue.  It borders Triskett between W. 140th and Berea Road. It’s larger, suitable for running, biking or walking on the outer trail which is just around 3/4 of a mile. The whole park has a bit over 7 acres of land.  Playground, ball fields and soccer games, both scheduled and extemporaneous. It’s fun to see kids walking to the park to enjoy it.  Life for a kid was meant to be that way!

So when you find yourself at either of these parks you will be in Jefferson!

Housing info for Jefferson…

There are 12 homes waiting for inspections to be done or loans to be approved, so they are ‘contingent’ and under contract.  There are 17 homes ‘pending sale’ so farther along in the process but still not filed at the court house. For both of the above stats, we don’t know sale prices until they file/transfer ownership. So 29 homes, within the last two weeks mind you, have gone under contract or changed contract status. That is how we can determine the most recent activity.

The best news? In the last three months, 56 homes have already sold. Examples: 3451 W. 136th sold for $99,500 (it was listed at $109,000). 3788 W. 139th sold for $95,000 and that was it’s list price.

The average minimum square feet for a sold home among these 56 houses was 888 sq. feet; the maximum square footage for a sold home was 2,485 sq. ft.  The average square footage (not all that surprising for the area unless you’ve added on or finished an attic or basement) was 1,312 sq. ft of living space.

The highest sale price was for a home on Warren Road. It sold  for $192,000. There was also a home sold on W. 140th for $162,500.

And yes, we still have foreclosures so the lowest sale price was $20,000.  What’s nice though: appraisers have adjusted over the years (!) so market value homes, not foreclosures, are more normally used to determine the appraised value for a loan.

The average sale price for the 56 homes sold in the last three months was $81,960.

One other interesting fact: The number of days on the market, on average, for all these homes prior to their going under contract and waiting to transfer ownership? 62 days.

 

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 ☺

 

 

General Contractors and Investors, What The Heck Are You Doing!?!

I wander the landscape of NE Ohio, showing any variety of homes to buyers or listing homes for sellers. Some of those homes (more than you may think) were rehabbed by investors. Investors who, by the way, helped our area out during the recession when they were still willing to purchase homes in bad shape and fix them up so they didn’t wind up on the demolition list. I love seeing the creative floor plans designed for the rehabs in many cases (and yes, sometimes those are odd but not usually!) None of this is what I’m going to rant about but I wanted to start out on a positive note! Our vast, older housing stock is much better off because there are people willing to invest in them, give them love and make them livable again. Now to drop the other shoe….

Investors  plunk down a large amount of money to rehab a house. Usually included is a big expense towards a remodeled kitchen. Once you’ve done all that, with beautiful new counter tops and shiny new sinks, why oh WHY would you or your contractors use those sinks as your slop sinks for the completion of the work on the rest of the house? I would say one out of five homes I go to that were rehabbed by people not living in the home do not treat it with much thought to what they are doing to the new materials. If you have spent a ton of money on a marble counter top and your contractor is setting his brush and slop can ON THE NEW COUNTERTOP  while applying polyurethane? You just might now have a permanent stain on that white marble (single slab custom cut mind you!) counter top. By the way, I’ve now seen this several times in the past year. One time it was not polyurethane but some black tar like substance.

1) Investors: do you tell this contractor who costs you extra money due to laziness that their services are no longer required? I sure hope so. I know for a fact, as inconvenient as it might be, I would never let them back in my house again.

2) If you are a contractor: get a clue. Someone (not you!) is spending a fortune on materials to rehab a house but you feel too lazy to go to the basement or better yet outside and instead use the new kitchen sink to do your clean ups? Do you cut wood and pipes (yes, I said pipes! I saw this in action in person last winter) on the new counter tops? Do you even put a work top over the counter tops before doing this? Nope, you do not.   What on earth is wrong with you?

Last year I listed a home that was 95% finished over 5 yrs, lovingly, by the owners. The guy was an amazing craftsman and the work was beautiful with great attention to detail. The kitchen featured a deep farm style black Corian sink. They wound up having to move two weeks before we listed and one small job needed to be painted. So for the first time in all of this rehabbing, the owner (now out of state) turned a small job over to a local contractor. Who used white paint which got onto the kitchen sink when cleaning brushes with oil based paint on them. Paint did not want to come out so he bought something abrasive to try to clean it. Two weeks later, not only was the paint still in the sink but now the entire sink finish was ruined.

I know, Mr/Ms contractor, you do not live in that home. But part of your job as a professional should be to make sure a place looks as good or better than it did when you got there.  Why is this so hard?

The home owners with the black ruined sink put a new one in (flew in from across the country to do so). But investors don’t always seem to want to make it right because understandably, now they have to spend more money again. It’s really simple. Don’t use living space sinks or counters as a work area!

And if you think buyers won’t notice, you are sadly mistaken.

☺Rant over. I really needed to get that off my chest.

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!

Historic Tremont Community and One of Her Painted Ladies

I toured a home on W. 14th Street and she was pretty spectacular! Maybe you remember the TV show Route 66? Apparently Robert Redford was here, at this house, filming an episode of the show. This was in 1961. This particular Painted Lady was here long before that, built by an attorney  around 1892.  Tremont is home to many grand old homes.  Industrialists & other professionals  were drawn to it’s location and decided to call it home. Probably true in other cities as well but in the Tremont neighborhood of Cleveland during that time, W. 14th housed all the company owners and many of the side streets housed the workers. It’s one of those neighborhoods where you can steep yourself in history, enjoy Lincoln Park (the heart of Tremont with a pool, farmers markets and many other festivals and art shows) or enjoy one of the eateries in the area.

This home has a boatload of historic amenities which I won’t go into on this post. Enough beautiful woodwork to line the walls of 3 small homes, pocket doors, leaded and stained glass, a modern but what I call an appropriately eclectic remodeled kitchen for a house of this age and style.  You can read all the listing details here. Be sure to check out that link because listing agent John has amazing photos, wait till you see the interior.  What stood out for me: the iron work. One example in (a first for me) a curved radiator (bottom left photo).  A bronze baluster light (unique to say the least!) plus intricate  iron work inside one of the many fireplaces (upper left photo).  Sometimes newly built homes can seem a bit cookie cutter, right? In older homes all over Cleveland it’s rare to see the same iron work or beveled glass or stained glass patterns twice.

The iron industry, as you can imagine, was a big deal in NE Ohio. Cleveland Iron Mining Company was around during the time this house, and many others like it, were built. Decorative iron works are one of the joys of these Victorian homes.

Maybe you are planning a move to start a job?  Tremont is about 3 minutes from Downtown Cleveland, 10 minutes to University Circle/Case Western Reserve/Cleveland Clinic. It’s about a 15 minute trip on the Rapid Transit or car to Hopkins Airport. Here is a link with more cool history about the area.  Civil War buff? Read about the Tremont Camp. And for a more up to date look at Tremont on the Web,  Tremont West Development Corporation’s site is a good way to get a feel for it. It’s a beautiful place in the City!

One last amazing fact about this W. 14th Painted Lady. Built over 120 years ago and only four owners !