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Strongsville, OH

Strongsville Ohio Real Estate Market Conditions Report

Chris Olsen Broker/Owner - Olsen Ziegler Realty: Real Estate Agent in Cleveland, OH

These two terms are one piece of the puzzle to help real estate agents, appraisers, home sellers and buyers alike make sense out of the real estate market.

This is a little-known, but effective tool, if used in proper context, to help a home seller or buyer understand the market conditions for the home they wish to sell or buy.

The easiest way to define these two terms is with an example:

Absorption Rates (AR)- The rate at which homes are selling (ie. absorbed), over a specific time period, typically 12 months. This is beneficial in determining supply and demand trends for the local market.

Months Housing Supply (MHS) - How long it will take, in number of months, for all the current homes for sale to be sold.

Formulas:

Monthly Absorption Rate = # of homes sold in the past twelve months / 12 Months.

Months Housing Supply = # of currently active homes for sale / Monthly Absorption Rate

Reference Guideline:

# Months to Sell Type of Market

1-4 Sellers

5-6 Balanced

7+ Buyers

Note: Six (6) months of inventory is considered a balanced market.

As is true with everything statistical, one has to really know when to apply this tool, under what circumstances is it relevant, and what are the constraints, as with everything in real estate, no individual property fits neatly into a box (no pun intended) or equation.

Here are a few examples of a few constraints:

  • Seasonal fluctuations - If more homes sell in the spring and summer months, what should the sampling period be?
  • Expired Listings - How should listings that have expired and been re-listed be treated?
  • Selecting Active and Sold Homes - What homes should be selected? What criteria should be used?
  • Selecting the AR Time Period - Is 3 months enough? 6? 12?
  • Is there a negative or positive trend underway? How do you compensate for the trend?
  • Since these are median #s, how does my home relate?
  • What can I do to make my home defy the median?
  • Do watershed events (say...the October 2008 Economic/Credit/Housing meltdown) affect: time periods? the statistics themselves, the subset of homes selected, etc.?
  • Is new construction affecting the supply or demand of nearby properties?

A question that sellers typically raise after reviewing this information:

Does this mean my home will take 9-18 months (Median MHS) to sell? While there is no easy answer here, the answer is: It depends. Many factors go into how quickly or long a home will sell. See my post titled "Your home is worth whatever a buyer is willing to pay for it" which talks about the many factors to consider when selling a home. We sell homes that defy the median, and are at the low end of the statistics when sellers listen to our advice and adopt our home preparation, staging and pricing considerations. While nothing is guaranteed, it's all about maximizing your opportunities relative to your competition and constraints.

Using a concrete example below, taken from the Northeast Ohio MLS, this report was run for the City of Strongsville, all single-family homes, so to see what is happening in the community as a whole:

Strongsville Ohio Real Estate Market Conditions Report

Source: NEOHREX. Information deemed reliable but is not guaranteed.

A couple of observations from looking at the above table:

  • The MHS is higher than a balanced market, so the current market (and true as well over the past year) favors buyers and is progressively favoring buyers as time goes on..
  • Sales are flat in the 1st quarter of 2009 over the 4th quarter of 2008, but down significantly compared to the 4/30/08 - 10/26/08. Some of this reduction may be due to season fluctuations, but time will tell.

Note: This is an example at a community level. The selection criteria would be customized to be relevant for a given property so as to make the data more meaningful.

Note: As of 4/1/09, Fannie Mae is requiring appraisers to compile the information you see above to be used as a part of a Market Conditions Addendum for appraisals.

Olsen Ziegler Realty -- A Smarter Way to buy and sell your Greater Cleveland, Ohio Home

Strongsville, Ohio - 4th Annual "Smile with Me!" 5k Run and One Mile Family Walk

Chris Olsen Broker/Owner - Olsen Ziegler Realty: Real Estate Agent in Cleveland, OH

A good friend and fellow colleague of mine, John Kalinowski, sent an e-mail to me regarding an upcoming fundraising event for a very worthwhile cause. Please pass the information along and help make a difference:

The 4th Annual "Smile with Me!" 5k Run and One Mile Family Walk is almost here!

When? Saturday, May 9th, 2009

Where? Walter F. Ehrnfelt Recreation Center, Strongsville, OH

What Time? 1 Mile Family Walk: 8:45, 5K Race: 9:15

What's it all about? The Hannah Wernke Memorial Foundation was created in memory of Hannah who fell victim to CPVT and died suddenly on May 15, 2005.

Hannah was eight years old, a resident of Strongsville, Ohio, and a second grader at Kinsner Elementary. She was my daughter Olivia's best friend, loved life to it's fullest, and dreamed of being a teacher.

The foundation raises funds for CPVT heart arrhythmia research through the Mayo Clinic, builds awareness of heart arrhythmia disorders such as CPVT, and funds college scholarships for graduating High School Seniors from Strongsville, Ohio who plan to major in education.

You don't have to be a runner to attend, and there will be other fun activities including face painting, so bring your whole family!

Find out more by visiting www.SmileWithHannah.com and clicking on "5K Race".

You can register online, but if you can't attend, please consider making a donation. Every little bit helps, and you'll find information on how to make a donation right on the website.

Thank you for your support, and I hope to see you at the race!

Warm up in front of your fireplace in nice Strongsville home - buy or rent now, then buy

Svetlana Stolyarova,Local-n-Global Realty, Broker: Real Estate Agent in Mayfield Heights, OH
Holly Days


Happy Holidays to everyone! What a pleasure to help people find the homes! I am so glad that I can offer the housing in Greater Cleveland for those who can buy now and for those who are not ready to buy but still need place to live. We have a very nice inventory of houses for rent with option to buy. Please call Svetlana Stolyarova 216-548-4663 if you need to move in soon. We are here to help you! We have a very solid, nice, open, neat house in Strongsville. Spacious family room with wood burning fireplace is ready to greet you and warm you up. Please preview, call, see and move in!
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Description
Home in Strongsville for sale or for rent. You can buy it for $175,000 or rent for $1,200/month.

Nice inviting 3 bedroom split level home located in the middle of desirable Walnut Creek community. Nice fenced in back yard is ideal for outdoor entertainment. On the back of the property there is a community green territory.

House has open floor plan. Spacious (17.5' x 17.5') living room flows to the dining and adjacent kitchen. All appliances stay. Sellers just bought the new refrigerator for the convenience of new owners. Back door leads to the patio and very private back yard.

Family room is comfortable and ideal for gatherings. Wood burning fireplace with built-in surroundings perfectly feeds the feeling of warm and cosy home. Adjacent half bathroom may be extended to a huge full bath if you need it.

Second floor bedrooms will please you with good size, nice closet space, fresh carpet. Full bathroom has been very well kept and updated. Ceramic tile has been recently installed.

The sellers made few serious improvements within last three years: roof has been replaced in 2005; Carrier heat pump installed in 2006; siding painted in 2007; windows in all bedrooms replaced in 2007. Ceramic tile in the kitchen and all bathrooms installed in 2006, carpet replaced in 2006. What a nice home to move in!

That's a very good affordable home for a new caring owners. You are welcome to call Svetlana Stolyarova directly at 216-548-4663 to set up a private tour to see this property! You may also listen to recorded information about this property at our 24/7 Real Estate Information Hotline 877-770-5551 ext.126 and leave a message about day and time when you can take a look at this house. We will be happy to show it to you and answer any questions regarding this home, community, and Real Estate market condition in Strongsville.

Strongsville is a very pleasant and convenient city! Strongsville Mall, Strongsville shopping plazas, restaurants, parks, hospitals, good schools system, easy access to major highways and Cleveland Hopkins Airport - what a location! The house at 20295 White Bark Dr. offers all the advantages of vibrant Strongsville lifestyle, quietness of nice friendly Walnut Creek development, and privacy of own enclosed and green back yard. What a winning combination.

Why wait? Please call right now 877-770-5551 ext. 126 or call Svetlana during a day 216-548-4663 to see this house.

Svetlana Stolyarova and Real Estate experts from Local-n-Global Realty will help you with your Real Estate needs. Just call 216-548-4663, send us e-mail to: Realty@Local-n-Global.com or visit our company's web site www.Local-n-Global.com
Features
Bedrooms: 3
Bathrooms: 1.1
Parking Spaces: 2 car garage
Year Built: 1977
Subdivision: Echo Lake
Lot Size: .23 acre
Garage Size: 2 car
School District: Strongsville
Square Footage: 1995
Agent Name: Svetlana Stolyarova
Broker: Local-n-Global Realty
MLS #: 2486553
Location
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Strongsville Split Level

Brenda & David Wakeman: Real Estate Agent in Strongsville, OH
David Wakeman | RE/MAX Classic | 440-212-5007
20432 Homestead Park Dr., Strongsville, OH
Great Location! Minutes to Shopping, Freeways and the Metroparks!
3BR/1.5BA Single Family House
offered at $164,800
Year Built 1973
Sq Footage 1,960
Bedrooms 3
Bathrooms 1 full, 1 partial
Floors 3
Parking 2 Car garage
Lot Size 12,750 sqft
HOA/Maint $0 per month

DESCRIPTION

Private, Fully Fenced Yard with an Amish Built Storage Shed provided.

A Spacious Living Room is Open to the Formal Dining Room and Kitchen, making this a Great Floor Plan for Entertaining!

The Family Room has a Beautiful, Wood Burning, Full Wall Stone Fireplace with a Heatilator, a Wood Mantel with an Outlet provided and Recessed Lighting above.

Attached Garage with Direct Access to the Kitchen.

Most Recent Updates include a Newer Roof, Windows Throughout, the Sliding Glass Door to the 3 Season Room, Exterior Doors and some Carpeting. Freshly Painted.

This is a Solid Home that has been Meticulously Cared For by these owners for many years and they are Providing a 13 Month Home Warranty for Your Peace of Mind!

If this is not the perfect home for you and your family visit: http://www.ohbestbuys.net for a FREE list with pictures of all available properties that match your specific criteria.

FREE computerized list of properties with pictures available with NO down payment. http://www.ohzerodown.info.

see additional photos below
PROPERTY FEATURES

Central A/C Central heat Fireplace
Tile floor Family room Living room
Dining room Breakfast nook Dishwasher
Yard

ADDITIONAL PHOTOS

Seller contact info:
David Wakeman
RE/MAX Classic
440-212-5007
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Dec 20, 2008, 9:38am PST

Open Sunday, November 9, 2008 2-4pm 17978 Lyon Lane in The Woods of Strongsville

Char and Jim Koch-Realtors-Strongsville,Ohio: Real Estate Agent in Strongsville, OH
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Description
Awesome private wooded lot on a cul-de-sac street in The Woods of Strongsville. Two story foyer with hardwood floors, formal dining room with bay window. Spacious kitchen with island. Gas log fireplace in your family room. Master suite with newer carpet, walk in closet and master bath with garden tub. Second floor laundry room.finished rec room, sprinkler system and stamped patio complete the amenities of this great home. HOME WARRANTY provided.
Features
Bedrooms: 4
Bathrooms: 2.5
Year Built: 1995
Subdivision: The Woods
Lot Size: .29 acre
Garage Size: 2 Attached
School District: Strongsville City Schools
Square Footage: 2836
Agent Name: CJ Harrington
Broker: Keller Williams
MLS #: 2467173
Location
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