YOUR SOURCE FOR SMART BUYING, SELLING & LIVING IN CLEVELAND OHIO | | |
Eileen's pick: Hawken School, University Circle | GET SMART? Live in a manse, turned school, turned home again! Live in the heart of University Circle, among world class art, science and academic institutes, along 'Millionaires Row' of gothic and historic homes. Previously, the home of the Junior League of Cleveland and more recently, Hawken School, it has been meticulously maintained and restored. (Courtesy ReMax) $1,300,000 with 7 beds, 2 full baths, 3 half baths. See listing | |  |
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The McKeon Group at Howard Hanna is one of Cleveland's favorite Realtor Groups, led by Eileen McKeon. Since 2001, the Group has advised and advocated for hundreds of Clients to "make a move" with confidence, strategic expertise, and exceptional attention to detail and service.
It's a smart move with The McKeon Group.
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AROUND TOWN with Britt: Fall Fun | | |
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Arguably the prettiest time of year for Northeastern Ohio, Fall brings with it vibrant foliage, crisp sunny days, pumpkin patches and apple farms. Here are a few curated opportunities to make the most of this autumn season
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Patterson’s Fall Fest is always a hit--enjoy pick-your-own apples!
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Mapleside Farm - Varying themes each weekend from Pirates to Super Heroes and Johnny Appleseed- with events for all ages.
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LINGO: Housing Inventory/ Defined | | |
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Housing inventory is the total number of residential properties that are actively available for sale within a specific geographic area and during a particular time frame. It serves as a crucial metric within the real estate industry, indicating the supply of housing units within the market.
High housing inventory typically suggests that there is an ample supply of homes relative to the demand. In such circumstances, buyers and renters have more options to choose from, which can potentially result in stabilizing or even lowering property prices. Conversely, low housing inventory indicates a shortage of available properties, leading to increased competition among buyers, which, in turn, can drive up property prices.
This measurement is essential for real estate professionals, investors, and policymakers as it influences market dynamics, pricing trends, and housing policy decisions. Additionally, housing inventory data can help individuals make informed decisions when buying or renting a property, as it provides insights into the level of competitiveness they can expect in the housing market.
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HOME MAINTENANCE: Order Firewood | | |
For our planners! Now is a great time to think about stocking up on your firewood before the cold weather hits. Source and and move it now so you are ready for the cold weather without overpaying for it! | |
One of our favorite LOCALLY owned resources is Lowe's Greenhouse in Chagrin Falls... and they deliver! Lowe's Greenhouse | |
FINANCING/Cost vs Price vs Value | | |
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For the last few years interest rates have been historically low, but competition for a house was tough. Right now we are seeing some markets become more balanced. What does that mean? It means while houses are still selling quickly and for a great price, the days of buyers waiving inspections and paying 15%-25% over the listing price might be behind us. Buyers are asking us "is now a good time to buy, even with higher interest rates?". Let’s look at the math:
- A house is listed at $400,000.
- You plan to put a down payment of 20%,
- Taxes and Insurance are average for the area.
- At 7.5% interest, the monthly mortgage payment is $3320.
- If you bought the house when rates were lower, but competition was higher- it may have cost you $475,000 to win the offer, at 5.5% interest rate, the monthly payment is $3240.
So yes, it costs more to borrow the money to buy that house now however, you may owe less on that loan over time. There are always ups and downs, pros and cons when buying a home. Buy when it’s right for you and your family. (PS We will keep an eye on interest rates and remind you when it is a good time to refinance to a lower rate!) Contact our Howard Hanna Mortgage Officer for more info.
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LOCAL FOOD FAVES: Fall Football Food | | |
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Hearty, flavorful and warm - BBQ is the perfect pairing for the big game. We recently tried Woodstock at 13362 Madison Ave in Lakewood. Mac n' Cheese! Cornbread! Brisket! Pulled Pork! Barb -b-"CUE" the nap in an easy chair and bring on RedZone (for football lovers!).
See menu and order online
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CLEVELAND HISTORY-HERSTORY: The Cultural Gardens | |
On any tour with relocating Buyers, we drive them through Rockefeller Park, along MLK Jr Drive through the Cultural Gardens. Truly, one of Cleveland's must-see destinations. An embodiment of our city's vibe-- a midwestern melting pot of immigrants from all over the world, contributing to the fabric of our city. With pride, local groups honor their family and cultural heritage with stunning gardens, sculptures and events along the parkway. There are 33 garden sites (and growing!). Read More | |
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THANK YOU FOR READING...WE HOPE YOU LEARNED SOMETHING.
WE ARE HERE WHEN YOU'RE READY TO MAKE YOUR MOVE!
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