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Dan and Amy Schuman,e-Pro,ASP

Cleveland Real Estate - Fall Is A Great Time To Buy

Cleveland Real Estate - Fall Is A Great Time To Buy

cleveland ohio in the fall

Just like many industries, there are times of the year that are typically busy and times when things are a little slow. While the fall is not perceived by outsiders as a busy time, the Cleveland real estate market can actually be the busiest time of the year with plenty of opportunities for buyers.

While it is true that many buyers, especially those with children, are active in the market during the spring and summer, there are a lot of buyers that prefer to shop in the fall. Many buyers simply don't want to spend the nicest months of the year looking for a home and wait until fall to begin their search. Some buyers also feel that better deals can be made in the fall. Their thinking is that many homes have been on the market since spring and that sellers may be motivated to sell now rather than keep their home on the market during another tough Cleveland winter.

There are indeed great deals to be had for a buyer. In addition, there is significant new inventory to choose from. Many sellers actually wait until the fall to put their home on the market. Some sellers feel that their home will actually show better in the fall as the changing of the seasons can really make a property stand out.

This fall may even see more activity than past years for several reasons. The first time buyer tax credit will expire on November 30th, 2009 and should motivate buyers to take advantage of the $8000 credit before it's too late. Also, there are signs that the economy is finally turning around. The recession is deemed all but over by experts, and interest rates remain near historic lows. Many of the buyers that have been waiting on the sidelines for the market to stabilize may now feel much more comfortable moving forward with buying a home.

If you are looking to buy a home, fall is historically a very busy time in the Cleveland real estate market. Considering that so many factors are in your favor right now, this fall may prove to be the right time to make your dreams come true.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans have worked with numerous professional athletes, business owners, and those relocating to Cleveland from out of the area.

If you would like more information on Cleveland real estate or are considering buying a home in Cleveland or surrounding suburbs,please contact the Schuman Team at 216-346-3235.

SEE ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW:

view all cleveland homes for sale

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Cleveland Real Estate- Fall Is A Great Time To Buy is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Sept 2009

Solon Home Statistics

SOLON HOME STATISTICS

Here is a list of all homes that officially transferred in July and August 2009. We will provide market insight and commentary after the list.

7201 Som Center $61,000
35675 Pettibone $90,000
31845 Bainbridge Rd $102,000
35990 Timberlane Drive $135,000
6959 Som Center $135,000
6569 Arbordale $145,000
6421 Huntington Dr $155,000
7061 Som Center $155,000
34595 Bainbridge Rd $171,000
7437 Cromwell Dr $178,500
6765 Edgemoor Ave $181,000
6575 Duneden $185,000
6583 Edgemoor $194,000
33260 Wagon Wheel Dr $211,500
7248 Selworthy $214,000
32547 S Roundhead $218,000
37141 Deer Run Rd $220,000
32182 Springside $235,000
36085 Pepper Drive $241,500
7238 Selworthy $258,000
37171 Deer Run $260,000
6020 Briardale $265,000
34261 Southside Park Dr $275,000
5114 Cheswick $277,000
34355 Country View $280,200
6123 Concord $285,000
6985 Liberty Rd $308,000
32487 Seneca $312,000
7646 Lindsay $323,300
34272 Summerset Dr $337,000
33555 Tallyho Ct $340,000
6257 N Huntington $342,000
36650 PEPPER Dr $345,000
34512 Summerset Dr $362,500
7231 Longview Dr $370,000
6224 Arbor Glen Ct $395,000
6516 Woodbury Dr $400,000
7020 Navajo Trl $400,000
7168 Longview Dr $413,000
34540 Seminole Way $420,000
38195 Flanders Dr $420,000
7615 Royal Portrush Dr $450,000
35825 Michael Dr $462,500
7083 Navajo Trl $470,000
7582 Capilano Dr $485,000
38480 Flanders $500,000
7239 Castle Pines Dr $507,500
38990 Glenlivet Ct $512,725
38360 Flanders Dr $525,000
37920 Flanders Dr $535,000
6601 Limberlost Ct $595,000
7332 Capilano Dr $606,000
38195 McDowell Dr $625,000
7468 Stockwood Dr $636,000

Overall, July and August sales were a result of the active spring market. As previously predicted in past articles, these Solon home statistics indicate that a large number of families wanted to close on their Solon home prior to the beginning of the school year.

The list above indicates that 54 homes officially transferred during July and August at an average sales price of $320,550. Last July and August saw 61 sales at an average price of $369,771.

SUMMARY

Overall, sales and average sales price are still down in 2009 compared to last year. Through 8 months, we have 166 sales in 2009 compared to 175 sales through the same period in 2008. While the number of sales is pretty close, the average sales price in Solon this year is $300,482 compared to $351,307 in 2008.

As has been discussed in previous Solon home statistics reports, the large number of foreclosures and short-sales that has occurred during this year, especially during the beginning of the year, has affected the average sales price. In addition, the Solon luxury home market, specifically homes priced over $750,000, has been almost non-existent. While there are homes selling in the $500,000-$700,000 range, the upper end of the Solon luxury home market is not seeing sales.

With the exception of homes in the upper level of the solon luxury home market, homes priced fairly in any price bracket here in Solon should still expect to sell quiker than average, but prices still remain much below the highs seen in 2003.

While the summer market is over, the fall market can actually be busier in terms of sales than at any other time of the year. There are many buyers who choose to wait until after the summer rush. They believe that they can find good deals, especially on homes that have been on the market since spring. Sellers now need to get more realistic on price or risk having to keep their home on the market through another tough Cleveland winter.

Check out previous Solon Ohio market reports:

May 2009 Market Report Solon Ohio

April 2009 Market Report Solon Ohio

Solon 2009 First Quarter Luxury Home Market Report

Solon 2009 First Quarter Market Report All Homes

February 2009 Market Report Solon Ohio

January 2009 Market Report Solon Ohio

2008 Year End Housing Summary Solon Ohio

2008 Luxury Market Report Solon Ohio

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About The Authors:

Dan and Amy Schuman are Solon residents. They specialize in luxury homes, working with buyers relocating to Solon, and home staging.

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

search all solon homes for sale

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Market Statistics is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Sept,2009

Solon Ohio Schools

Solon Ohio Schools -A Parents Perspective

The Solon Ohio Schools are known throughout the area and the entire U.S. because of their high local and national rankings. Our goal is this article is to give a parents perspective of the Solon Schools so that families relocating to Solon or considering a move can see beyond the high test scores and ratings. We will focus on the people behind the scenes who deserve a tremendous amount of credit for our award-winning school district; the teachers, volunteers, and administrators.

Solon Ohio Schools

This is our 5th year having children attend Solon Ohio Schools and our experience has been extremely positive. Like many people who move to Solon, one of the reasons we chose to live here was because of the top ranked school system. The rankings alone, however, don't tell the whole story.

To begin, we are extremely impressed with the quality of teachers in the Solon Ohio Schools. Every day they work tirelessly to ensure that our children realize their full potential. When it comes to teachers, expectations are elevated in our household because Amy holds a masters degree in early childhood education and used to teach. She puts our children's teachers under a microscope every year and they always seem to impress her.

Solon Ohio Schools

In addition, we both have a chance to volunteer in the Solon schools on a regular basis. The classrooms are run efficiently and in an environment that is conducive to learning. We cherish our time in the classrooms and marvel at just how hard the teachers work every single day. It is certainly not an easy job. The kids do work hard though and get a lot more homework than when we were their age. Despite the heavy work load, the children who manage their time wisely still have plenty of time for extra-curricular activities.

The local Solon PTA ( Parent Teacher Association ) is also highly instrumental in the success of the Solon Ohio Schools. While most PTA's are pretty active, the Solon PTA is more than just involved, they are truly committed. There are PTA's on all levels, High School, Middle School, Elementary, and even an early childhood PTA for those with young children. The local PTA does a terrific job of being a liaison between the children, teachers, and administration. They are the engine that makes things happen within the schools helping with events throughout the year. Joining the PTA is a very easy way for parents to get involved in the schools.

We certainly cannot speak about the success of the Solon Schools without mentioning the administrators and school board who also work tirelessly throughout the year. They don't always get a lot of credit, but their work is extremely important.

We are certainly proud of the Solon School system and greatly appreciatiate the teachers, volunteers and administrators who work hard year after year to help make it one of the best schools in the nation.

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About The Authors:

Dan and Amy Schuman are Solon residents. They specialize in luxury homes, working with buyers relocating to Solon, and home staging.

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

search all solon homes for sale

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon Ohio Schools - is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Aug,2009

Buying A Home In Cleveland - The Complete Guide Part 7 of 7

Buying A Home In Cleveland - The Complete Guide Part 7 of 7 - Closing and Possession

buying a home in cleveland a complete guide

In an effort to help educate those buying a home in Cleveland, we have put together a 7 part series that will explain the entire home buying process in detail. Although our focus will be on the Cleveland market, many of the ideas discussed can be applied to other areas of the country as well. We recommend that you read the first 6 articles in the series at some point, preferably prior to reading step 7, our final step, as all of the information relates to each other.

Step 1 "The Initial Consultation - Formulating A Game plan" .

Step 2 "The Pre-approval Process".

Step 3 "Selecting and Previewing Homes."

Step 4 "Writing An Offer".

Step 5 "Negotiating".

Step 6 "What Happens After Acceptance".

We are now at the home stretch of what has probably been a very exhausting process. At this point, your loan has been approved, the movers have been scheduled, boxes are packed, and you are now waiting to sign loan documents, get keys, and finally own your new home. There are a few things that should be done to ensure a successful completion of the home buying process.

Guide to buying a home in Cleveland signing documents

It is always a good idea to keep in constant communication with the company who is going to do the closing. They will set up a day, time, and location for you to sign documents, and tell you how much money, in certified funds, you need to bring with you. They often get very busy and are typically not very proactive, so you need to stay on top of them as you will need time to go to the bank and get your funds. Although they are instructed to follow the dates that are set in the purchase agreement, they often do things at the last minute, so just be prepared. It is also a good idea to get a copy of the closing documents in advance so you can familiarize yourself or have them reviewed by an attorney prior to the actual closing.

Here in the Cleveland area, we use title companies to handle this part of the transaction. This is a big distinction from other areas of the country that strictly use attorneys to handle title, escrow and signing of documents. Also, if you are relocating to Cleveland from another area, it is important to note that the buyer and seller sign their documents separately, not together. In fact, when buying a home in Cleveland, buyers and sellers usually do not even meet each other during the home buying process.

Complete guide to buying a home in Cleveland closingAfter you sign documents, you must still wait until the deed is filed before you get the keys to your new home. The filing of the deed is the official transfer of property from one party to another and signifies the official end of the home buying process. Once again, the title company and agents will do their best to make sure to strictly follow dates that were agreed upon during the negotiation process to make sure you get the keys on time.

Now, you are officially the owner of your home. Congratulations and smiles are in order as you can now move in and enjoy. As you begin the journey of being the owner of your new home, it is wise to keep a copy of all documents relating to the buying process, such as the purchase agreement, disclosures, and inspection reports. You never know if or when you may need them, so please keep a copy in a safe place.

The home buying process can be stressful and complicated, but when the boxes are unpacked and you are settled in, your home will bring you more joy and happiness than you can ever imagine.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans have worked with numerous professional athletes, business owners, and those relocating to Cleveland from out of the area.

If you are considering buying a home in Cleveland or surrounding suburbs,please contact the Schuman Team at 216-346-3235.

VIEW ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW

search all cleveland area homes

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Buying A Home In Cleveland Part 7, Closing and Possession is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Aug 2009

Buying A Home In Cleveland - The Complete Guide Part 6

Buying A Home In Cleveland - The Complete Guide Part 6 of 7 - What Happens After Acceptance

buying a home in cleveland a complete guide

In an effort to help educate those buying a home in Cleveland, we have put together a 7 part series that will explain the entire home buying process in detail. Although our focus will be on the Cleveland market, many of the ideas discussed can be applied to other areas of the country as well. We recommend that you read the first 5 articles in the series at some point, preferably prior to reading step 6 as all of the information relates to each other.

Step 1 "The Initial Consultation - Formulating A Game plan" .

Step 2 "The Pre-approval Process".

Step 3 "Selecting and Previewing Homes."

Step 4 "Writing An Offer".

Step 5 "Negotiating".

This next step will focus on what happens after the purchase agreement is accepted.

While the negotiating process is one of the most stressful steps of the home buying process, the events that follow acceptance are just as important and shouldn't be overlooked. It is easy to relax once a seller has accepted an offer but there is still a lot of work to be done.

Once a seller has accepted an offer, the inspection period than begins. You will have a certain number of days in which to complete your inspections, based on what you indicated in the purchase agreement. It is always best to get a few names of home inspectors up front when you begin the home buying process so that you will be ready to schedule the inspections immediately upon acceptance.

the home inspection process

Now is the time that a buyer gets to perform their due diligence and thoroughly check out the home before moving forward with the purchase. The general home inspection can take between 2-3 hours and we recommend all buyers being there in person. During the inspection, the inspector will tell you about the home, including giving you instructions on caring for it, and point out any current or potential problems.

You will receive a written report from the inspector upon completion. You must then indicate how you want to proceed by signing off on a contingency removal form, a standard form used here when buying a home in Cleveland. If the inspection is clean, you can simply remove the inspection contingency from the agreement by signing and dating the form. If there are problems, specifically health or safety related issues, that you want addressed, you can do one of two things. You can ask the seller to correct them, or you can ask for the price to be lowered to compensate for the amount it will cost you to fix the problem. If there are major issues with the home, you may be able to get out of the agreement, depending on how it is worded.

Your buyer's agent will be able to walk you through the important steps of this process as it can be stressful and sometimes complicated. There is a possibility that this step will result in another round of negotiations with the seller, depending on how you proceed once receiving the inspection report.

guide to buying a home financing contingency

Besides for inspections, there are a few other things that must be addressed between the time a purchase agreement is accepted and the actual closing date. We recommend constant communication with your lender throughout the process to make sure everything is moving forward as expected. If your lender ever needs anything from you, please respond to them as soon as possible so you don't delay the closing.

In addition to working on financing, we also recommend making a checklist of any other things that need to be done prior to moving in so you are prepared. If you plan on having improvements done to the home prior to moving in, you may want to contact contractors and plan dates for them to begin the work. You may also want to schedule a locksmith to come to the home so you can have the locks changed. Most important, you need to handle the transfer of utilities so that you have service upon moving in. When buying a home in Cleveland, there are several different utility companies that service the area. Here is a list of important companies with their phone numbers.

At this point, the home buying process is almost complete. Click below to view Part 7, the last step of the home buying process:

Closing and Possession

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* Please note that the Schuman Team, Amy and Dan Schuman, are licensed real estate agents in the State of Ohio but are NOT licensed to practice law. We we want to be clear that information contained here should not be interpreted as legal advice. All buyers are welcome to seek the advice of a qualified real estate attorney prior to signing any legal documents.

*******************************************************************************************

About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans have worked with numerous professional athletes, business owners, and those relocating to Cleveland from out of the area.

If you are considering buying a home in Cleveland or surrounding suburbs,please contact the Schuman Team at 216-346-3235.

VIEW ALL CLEVELAND AREA HOMES FOR SALE BY CLICKING BELOW

Search all cleveland homes for sale

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Buying A Home In Cleveland Part 6, What Happens After Acceptance is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Aug 2009