One aspect of being in real estate that I love is seeing new types of homes being built.
So, I thought I would share some cool concepts that caught my eye online. I realize I went heavy on videos in this post, but all these are pretty interesting. What do you think?
REPURPOSED SILOS
I’ve seen a fair number of silos while driving through rural areas in Northeast Ohio. I never thought about them being repurposed into a home. But that’s what some clever folks in Idaho are doing! Check out this video. You’ll never look at silos the same.
Other cool buildings are made out of repurposed items. For instance, shipping containers are another way to build homes. This is not a new idea anymore.
However, the progress being made in the styles of homes is remarkable! Here are a few examples…
Here’s a little video with more examples of shipping container homes and a little more about them.
By the way, if you’re not ready to buy a shipping container to live in, how about one to swim in? Our friends purchased a shipping container and converted it into an amazing pool!
Here’s a little video of some shipping container pools…
And one last cool repurposed home for wine enthusiasts is a wine barrel home. Check out these videos.
In case you would like to build a smaller home…
I love these types of repurposed homes. Would you live in one? If so, which do you like more, the silo style, the shipping container, or the barrel style? Feel free to share your thoughts below. If I were to appraise one of these, which I have not yet had the pleasure of doing, I think that using a renovated silo dwelling could be used as a potential comparable sale when appraising a container building, and visa versa. If you’re an appraiser out there, what say you?
By the way, a company in Cleveland, Ohio, makes container-converted homes. If you’re in the market for one, see the link below.
I hope you enjoyed this little journey into repurposed homes! Speaking of new construction, here’s a little heat map that shows new construction activity by state for the first quarter of 2024. According to this data, only 8.7% of the sales in Ohio consist of new construction. We need more new construction! The median price of new construction homes in Ohio is $429,000.
In other news, real estate contracts used to be harder to write…
Here’s a cool visual of how housing inventory fluctuates throughout each year.
Now, to some housing data!
GETTING TRENDY (Cuyahoga County Housing Tends)
Here are some fresh stats for single-family homes in Cuyahoga County. Here are the key points from the data below:
- Median Sales Prices in May Up 14% year over year.
- May had 1.59 months of inventory, slightly more than a year ago, a 17% increase year over year.
- Median List Prices in May Up 12% year over year.
- On average, selling a home in May took 13 days, the same as a year ago.
- On average, homes sell at 100% of their listing price, which was the case a year ago.
- In May, there were 1,799 total active listings, which is approx. 4% more than last year.
HERE ARE SOME TRENDS IN MORE LOCALIZED AREAS IN CUYAHOGA COUNTY
Single-family homes in Parma, north of Pleasant Valley Road, south of W. Ridgewood Drive, east of State Road, and west of Broadview Road. 6% annual sales price appreciation as of May 2024.
Single-family homes in Maple Heights, southwest of Broadway Avenue, in May 2024. -3% annual sales price depreciation.
Single-family homes in Shaker Heights, north of the Shaker Heights City Line, south of Chagrin Blvd., east of Lee Road, and west of Warrensville Center Road, as of May 2024. 15% annual sales price appreciation.
HOME HACKS
Here’s a cool hack for reusing candy bags. Pretty slick!
This week, I will leave you with what I thought was a great video with some great advice on what to fix when considering selling your home. Enjoy!
Have a great week!
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For my readers in the CLE area… here are some articles related to news in our local area that you may enjoy…
Cleveland Seeks $268M in Grant for Entire Lakefront Plan – Cleveland Magazine
10 Ohio Waterfalls and Where to Find Them – Ohio Magazine
If you enjoyed this blog, please check out some awesome blogs by my fellow appraisers…
Cash buyers are the X factor in 2024 – Sacramento Appraisal Blog
How to Appeal Your High Property Tax Assessment: A Homeowner’s Guide – Birmingham Appraisal Blog
Low Appraisal Fees in 2024 – Appraisal Today
Row Row POV? Part 3 – George Dell’s Analogue Blog
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That is one funky silo house. I always wonder what it would be like to live in something unique like that.
It really is! I love seeing things repurposed like this. I would give it a try! It might be cool to live in, at least for a while.