Home sales in Cuyahoga County are at their lowest level in years. The continued shortage of housing supply continues to create upward pressure on prices despite the high mortgage interest rates. In this article, I provide some recent housing data to reflect what's happening in the greater Cleveland area.
Category: Market Activity
The Cleveland Area Housing Market Was Skating Along… And Then This Happened
Cleveland's hot housing market has cooled significantly. What does the housing market look like currently? I talk about it in this article.
What’s The Leaven Causing Home Prices to Rise Today?
What caused home prices to increase rapidly in the years leading up to the Great Recession vs. today? I discuss the differences in this article.
Are Home Buyers Regretting Their Purchase?
What are some potential reasons why a home buyer may later regret their purchase? In this article I discuss some things to think about that may help avoid home buyer remorse.
How Depreciation Works
What is the primary reason a newly built home has a higher market value than the same home that is older? In a word, depreciation. What is depreciation? Simply stated, it is loss in value. There are three basic causes of depreciation for homes. Physical, functional, and external obsolescence. What do they indicate and how… Continue reading How Depreciation Works
Who Needs Appraiser’s When One Has Cash?
Who needs an appraiser when one has cash? That's a question a good friend asked me after telling me that a home on the same street from them sold, in hours, for a much higher price than many other generally similar homes are selling for in the neighborhood. The buyers paid cash. I must admit,… Continue reading Who Needs Appraiser’s When One Has Cash?
The Complete Guide to Virtual House Hunting During COVID-19
Hello everyone! I am honored to welcome back Author Jessica Brody, with a new and timely article that I think you will find helpful if you're looking to buy a home. Enjoy! The Complete Guide to Virtual House Hunting During COVID-19 Whether you were already diving into the home buying process when COVID-19 hit the… Continue reading The Complete Guide to Virtual House Hunting During COVID-19