Sagamore Hills, OH

Sagamore Hills Ohio Open House Eaton Estates June 5th 2011 at 8519 Shorthorn Drive

SOLD in 48 Days! Asking Price: $230,000. Sold Price: $226,000.

When: June 5th, 2011 from 3:00 - 5:00pm

Where: 8519 Shorthorn Drive, Sagamore Hills, Ohio 44067

Why: New Listing! Impeccably maintained. Cul-de-sac location. One of the largest lots in the development, and the list goes on...A true must see.

Need more info?

• Contact the listing agent (that's me -- Chris Olsen) at 216.702.0537 or chris@olsenziegler.com.
• Visit my blog post with a writeup on 8519 Shorthorn Drive and the Eaton Estates neighborhood in Sagamore Hills Ohio.
• View my virtual tour of 8519 Shorthorn Drive.
• View the original listing on my OlsenZiegler.com brokerage website for 8519 Shorthorn Drive.
• Or if you are reading this post on your smart phone, scan this QR Code for more info as well.

I hope to see you there!

Sagamore Hills Homes for Sale

Sagamore Hills Ohio Home for Sale at 8519 Shorthorn Drive in the Eaton Estates neighborhood

SOLD in 48 Days! Asking Price: $230,000. Sold Price: $226,000.

Here are a few of the highlights of this home:

• Location...Location...Location: Cul-de-sac location.
  
• Asking price: $235,000.
  
• Single-family, colonial style home.
• Attached two car garage.
• Four bedrooms and two full baths on upper level.
• Open kitchen and family room concept.
  
• One of the largest lots in the Eaton Estate neighborhood at .41 acres. Level and open.
• Extensive backyard upgrades with an over sized deck, motorized, retractable awning, brick paver patio and mature landscaping.
• 9 foot ceilings on the main level.
• 2nd floor laundry means no more lugging laundry up and down the stairs!
• Random street parties -- :)
• Updated light fixtures throughout the home.
• Updated kitchen appliances, sink, faucet, flooring and custom, mosaic, tile back splash.
• 12 course basement ceiling height (currently unfinished).
• Combination carbon monoxide/smoke detector on all levels.
  
• Nordonia Hills School District (which serves Eaton Estates) is Rated "Excellent with Distinction" the highest designation awarded by the State of Ohio Department of Education.
  

Original Listing Source Post: 8519 Shorthorn Drive, Sagamore Hills, OH 44067 to see more photos.

Have you heard of the Eaton Estates neighborhood in Sagamore Hills Ohio? Eaton Estates has:

• Community Swimming Pool. Rainshower fountain in the shallow end and large swimming area with ample seating and a grassy area for additional sunbathing.
  
• Community lake with a gazebo and walking trails near the water’s edge.
  
• Covered gazebo and even an island in the lake make it a fun place to relax, walk, and even watch the swans swim.
  
• Community playground – modern, fun, and is in the same area as the community swimming pool.
  
• Community Party Room. Available for rent for parties.
  
• Two tennis courts with windbreak screening, located at the community pool/playground area.
  
• Over two miles of walking trails throughout the neighborhood.
  
• Annual Garage Sale – well advertised and heavily attended.
  
• The State of Ohio Department of Education has ranked the Nordonia Hills School District (which serves Eaton Estates) as “Excellent with Distinction”, the highest designation awarded.
  
• The Cuyahoga Valley National Park Towpath Trail is 3.5 miles away.
  
• The paved, Summit County Hike & Bike Trail is 2.5 miles away.
  
• Convenient to major shopping in Macedonia Commons and Golden Link (Home Depot, Lowes, Target, Wal-mart, Cinemark, Outback, etc.).
  
• Convenient access to both downtown Cleveland and Akron.

Take a view of the photos, and you can see why there are many homeowners who love to call Eaton Estates in Sagamore Hills home:

Sagamore Hills Homes for Sale

Sagamore Hills is a little township in Summit Ohio, with easy commuting distance to both downtown Cleveland as well as Akron.  Nestled next to the Cuyahoga Valley National Park, Sagamore Hills has close access to the Ohio and Erie Canal Towpath Trail as well as the Summit County Hike and Bike Trail, as well as convenient access to major shopping and major commuter routes.

Sagamore Hills has just about every type of property imaginable, from newer homes in many price ranges, to starter homes, to properties with acreage.

Happy searching!

 

Sagamore Hills Ohio Real Estate Market Conditions Report - September 2010

Here are the September 2010 real estate market statistics for the Sagamore Hills, Ohio community in Summit County in Northeast Ohio

Absorption Rates and Months Housing Supply

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 6-10 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 Sagamore Hills, Ohio, all single-family homes, so to see what is happening in the community as a whole:

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

A couple of observations from looking at the above table:

• The MHS has improved greatly since the last February 2010 Sagamore Hills Ohio real estate market. The MLS is starting to near a balanced market and is down significantly from 15-22 months reported in the last report.
  
• While the MLS is very encouraging, it remains to be seen what will happen to the inventory now that the federal tax incentives have expired. We will be watching closely to see if the inventory begins to increase.

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 $marter Way to buy and sell your Sagamore Hills, Ohio Home

Here are the February 2010 real estate market statistics for the Sagamore Hills, Ohio community in Summit County in Northeast Ohio

Absorption Rates and Months Housing Supply

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 15-22 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 Sagamore Hills, Ohio, all single-family homes, so to see what is happening in the community as a whole:

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

A couple of observations from looking at the above table:

• The MHS is much higher than a balanced market, so the current market (and true as well over the past year) favors buyers.
• Sales are up slightly in the current quarter, which is a pleasant surprise as the winter season is typically the slowest time of the year to sell a home. That said, with the first time home buyer tax credit that expired on 11/30/09, the anticipation for greater sales was expected, especially since the first-time home buyer tax credit was extended through 4/30/10 (home under contract) as well as an additional $6,500 tax credit for move-up buyers, also in place through 4/30/10. The median sales price is down from the prior year, also expected given the current economic and real estate climate.

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 $marter Way to buy and sell your Sagamore Hills, Ohio Home