Welcome to my June 2008 report on the state of the real estate market for Geauga County. I’ve been doing these reports on another blog site for months now and figured it was time to post them here as well! If you would be interested in seeing market reports for additional counties in NE Ohio, please let me know and I’ll be happy to start posting them as well!
As a service to all potential buyers and sellers, I would be happy to provide you with statistics on your county, your town, your price range, etc. so you can get a clear picture of how many homes are selling and how long they take to sell. To give you an overall picture of Geauga County as a whole, I’ve included a few statistics for your review!
The current trend (as of June, 2008) is a healthy decrease in the number of homes for sale. In June of 2007 there were 995 homes on the market, of which 96 sold. In June of 2008, there were 892 homes on the market, of which 60 sold. In June of 2007, for those homes that did sell, they were on the market an average of only 94 days. For those homes that sold in June of 2008, the average days on market were 100, representing a slight increase of only 6 days from one year to the next. So, the number of homes on the market has reduced and the number of homes sold has reduced as well. Refer to the chart below for a visual representation:
What does this mean if you’re thinking of selling and you want to be amongst the SOLDs? It’s simple!
Price your home at or below market value
Make sure your home shows beautifully
Choose a realtor (like me!) that knows how to market your home to the widest audience possible!
If you have all three of these, there is no reason you shouldn’t end up with a nice big “SOLD” sign in your yard, but miss any one of them and you’ll be sitting around waiting…
Finally some good news from the media! You may have already seen my blog about the article in the News Herald. Forbes Magazine rated Geauga County #4 in the nation for raising a family! That’s great news and hopefully it will help spur some additional interest in the homes for sale here!
If you would like to receive a free copy of a market report, please contact me. I’d be happy to help! If you’d like to learn more about what it takes to sell in a correcting or down market, let me know! My team specializes in home staging and aggressive marketing. We would love to sit down and talk about your situation any time!
Please feel free to visit any of our 5 websites to learn more!
www.theneoteam.com
www.clevelandareaproperties.com
www.horsepropertyohio.com
Dan’s Realty One Website
Barb’s Realty One Website
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I’d just like to say, Yeah Geauga!
The News Herald just published an article that says Forbes Magazine ranked Geauga County as “the nation’s fourth-best county in which to raise a family.” That’s great news, but perhaps not surprising to those of us that currently call Geauga County home.
Why did we rank so high on the list?
“A whopping 86 percent of homes are owner-occupied” - that’s phenomenal! Isn’t the national average running around 70% (and perhaps declining in the wake of so many foreclosures nationwide)?
The article also talks about the rankings being high for Geauga because of “clean air, low crime and a high level of community investment”. I can tell you personally, I like Geauga county because the home prices were good, I had room to stretch out and didn’t feel like I was always on top of my next door neighbor, the people are friendly and it’s easy to get to anything I need, but I’m still in a place that feels like the country. What more could anyone ask for?
If you’re thinking about making a move out to Geauga county and would like to learn more, please let me know. I’ll be happy to help in any way I can! Yeah Geauga!
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With so much negative media attention on the real estate market around the country this year, it’s nice to see some positive attention for a change. The Plain Dealer published an article on June 25th titled “Cleveland housing prices up”. The article talked about the release of Standard & Poor’s/Case-Shiller home-price index and how the Cleveland market stacked up amongst 20 major markets listed (we ranked #7 out of the 20 markets, by the way!). I was also reading an economic report from the National Association of Realtors (NAR) put out by our Chief Economist, Lawrence Yun, that also put a smile on my face. His report shows that (in general) “home sales have stabilized over the last seven months and are expected to increase measurably in the rest of 2008″. According to Yun, we should expect to see the clearing up of the subprime lending problems through the rest of this year, but we should also be seeing improvements in both sales and prices in the coming year. As many people are already aware, real estate markets are very local. The Cleveland area did not have the huge bubbles that areas such as California or Florida had, so we haven’t faced the same kinds of problems they are facing. That’s a big part of why we are one of the first markets set to rise up! Now is the time to buy!
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