Cleveland, Great place for investment !!

“Investors looking at the current Ohio real estate market have all the reasons to place their confidence in the growing value of their potential assets.” Housing Predictor  and the housing market is indicating that more and more places are becoming highly desirable in Cleveland. Cleveland Magazine rated several suburbs to nest in, citing low crime, increasing home values and great schools. Close proximity to Lake Erie is a huge attractant for home buyers. Several places in Cleveland is characterized by quiet neighborhoods and well-maintained single-family homes with walking access to just about everything, including a Beach.

We may be heading into the end of the year and like a lot of cities, Cleveland is doing well and seeing a lot of new influx of development money which is bringing real light and warmth for 2018.

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Who’s Powering the Housing Market? Surprise! It’s Millennials

Source NBC News, 

Millennials are growing up, settling down and looking to buy a house — for the extra room and the investment opportunity.

Millennials were the largest group of home buyers (34 percent) for the fourth consecutive year, according to NAR’s 2017 Home Buyer and Seller Generational Trends study. By comparison, baby boomers were 30 percent of buyers.

“That myth that millennials don’t want to own things is not true,” said Jeremy Wacksman, chief marketing officer at the Zillow Group. “Millennials are not just starting to buy homes; they’re powering the housing market.”

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Cleveland Housing Stats

The Cleveland housing market is rebounding. From 2006 to 2013 home values dropped 30%. Four years later, all indicators point to growing income, a solid job market, and increasing home values in Ohio. The Ohio Department of Job and Family Services states unemployment is down to 5.7%, half of what it was in 2010. Average prices for Cleveland real estate is $47 per square foot, an increase of more than 3% over the last few years. According to the Ohio Association of Realtors, the volume of home sales was 4.2% higher. Currently the median family income is $30,286 with the median home price at $55,200. The good news is home values are almost three times higher than the price overall, with a median of $115,600. While the Cleveland market has struggled a bit, downtown is picking up and there is definitely something positive happening in the suburbs. As we near the end of 2017, the average home sale price in three of the hottest areas of Cleveland includes:

  • Downtown
  • Average listing $496,500
  • University Circle
  • Average listing around $378,000
  • Bay Village/Westlake
  • Average listing around $312,959

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Cleveland is growing from inside out

Source: By Steven Litt, The Plain Dealer

CLEVELAND, Ohio  is slowly repopulating from the inside out, with growth occurring within a 2-mile radius of downtown.

Between 2 and 6 miles out from the center, where it has thinned out the most in recent decades, the city also has plenty of room to add newcomers, according to a new study released by Cleveland State University’s Center for Population Dynamics.

In fact, the report says, it could add more than 130,000 people during the next 20 years, reaching 520,600.

The city’s housing strategy, therefore, should “leverage this ‘inside out’ pattern with a focus on the hardest hit areas that are adjacent to the urban core, particularly those neighborhoods that are 2 to 4 miles and 4 to 6 miles outside of Downtown.”

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Amazon’s second fulfillment center in Cleveland

This is the excerpt for your very first post.


Amazon plans to bring a second fulfillment center – and 1,000 additional jobs – to Northeast Ohio, replacing another dead shopping mall with an e-commerce hub.

The Seattle-based company finalized a lease Wednesday on a planned 650,000-square-foot building in Euclid, on the site of the empty Euclid Square Mall. The deal coalesced barely a month after Amazon committed to its first such local project, an even larger facility set to open next year in North Randall, where Randall Park Mall once stood.

In both North Randall and Euclid, workers will gather small items such as books, electronics, games and toys, pack them into boxes and ship them off. Schematics for the buildings show raised storage platforms where robots will ferry items to and from shelves. The jobs will be full-time positions, with immediate access to health care and retirement benefits and, later on, educational opportunities largely paid for by the company.

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