beachwood oh homes for sale: BEACHWOOD OHIO HOME SALE UPDATE - 05/13/10 03:59 AM

So how did January 1st through April 30, 2010 sales in Beachwood, Ohio stack-up against sales during the same period in 2009?
Home sales actually decresed slightly in number but prices increased substantially among the homes that sold this year in Beachwood, Ohio.
Beachwood OH homes also sold quicker this year than last year!
 Find a Home:

beachwood oh homes for sale: BEACHWOOD OHIO ROAD CONSTRUCTION PROJECT - 02/24/10 02:50 AM
It will be hurry-up and wait for drivers at the popular Richmond and South Woodland Road intersection this summer. The Beachwood OH Mayor's Office recently announced a major road reconstruction project in which the entire road will be ripped-up and replaced.
The roadwork is expected to begin in Mid-June and to end in Mid-August and will significantly effect Richmond, South Woodland, Letchworth, Brucefield Road access. Those heading to and from the J.C.C. will have to use Science Park Drive.

For more on the details of this project:

beachwood oh homes for sale: WHEN IT COMES TO HIRING A REAL ESTATE AGENT IS BIGGER BETTER? - 02/23/10 12:16 PM
Bigger is better sometimes, but not always when it comes to hiring a real estate agent to sell your house. Many so-called "Mega Listing Agents" can and do provide excellent service; but service doesn't improve nor do the odds of your house selling merely because an agent or their company has a bigger than life name.

The factors that determine whether your house will sell are price, location, condition, marketing and market conditions. If these are in line then most competent agents can sell your house; whether that agent lists a dozen houses a year or five hundred!
A Mega Listing Agent may dazzle you … (3 comments)

beachwood oh homes for sale: PROPOSED PLAN TO HELP HOMEOWNERS IN TROUBLE - 02/23/10 09:02 AM
The U.S. Treasury wants to make it tougher for lenders to foreclose on underwater borrowers. Under the proposal lenders would be required to contact borrowers who are 60-days behind in their mortgage payments and then assess whether the borrower is eligible for HAMP (Home Affordabie Modification Program). Lenders would be forced to account for their activities and to state in writing why a borrower is not eligible for a loan modification under HAMP.

Also, borrowers would be given 30-days to respond upon denial of a loan modification and lenders would be prohibited from auctioning the property or from putting it … (0 comments)

beachwood oh homes for sale: MORE FORECLOSURES COMING DOWN THE PIKE? - 02/17/10 03:20 AM
Just when some were saying that the mortgage finance crisis was showing signs of slowing down, mortgage loan delinquencies have apparently climbed for the 12th straight quarter in a row. This according to the credit reporting agency TransUnion.

The fourth quarter of 2009 has reportedly increased 10.24-percent from 6.25; the previous quarter's average. Mortgage delinquencies are of course considered to be a sign of prospective foreclosures. Mortgage delinquencies were highest in Nevada and Florida.
For more on this story:

beachwood oh homes for sale: FSBO'S ARE THE BEST DEALS, RIGHT? - 02/13/10 02:11 AM
"I'm looking for a for-sale-by-owner property because that's where you find the real deals."
Who wouldn't like to cut out the middleman and save money on a commission? In the best of all possible worlds a seller wouldn't have to pay a real estate fee and that savings would be passed on to the buyer. But we don't live in an ideal world. What happens instead is FSBO properties are often over-priced! The seller of course believes that their unrealistic price is correct and the buyer may believe this as well because they have no professional guidance. By the way, a buyer's ability … (3 comments)

beachwood oh homes for sale: BEACHWOOD HIGH SCHOOL RENOVATION ISSUE TO BE ON MAY BALLOT - 02/11/10 06:27 AM
Education is a huge priority in Beachwood and the High School could use a facelift. On this basis the Beachwood Board of Education passed a resolution for voters this May to approve a $2.5-Million bond issue. If approved the High School would receive a sort of combination renovation/new construction improvement.

There would be two prospective funding sources:
1) A bond that would generate $30-Million for 30-years which would cost property owners a relatively small increase in their property taxes, I.E., $16.00 more per/month on a $250K property.
2) Also, last summer the Beachwood School District was awarded $5.6-Million from the … (0 comments)

beachwood oh homes for sale: “I’m listing with the agent who suggests the highest asking price! - 02/10/10 09:17 AM
"I'm listing my house with the agent who comes in with the highest asking price on my property."
"Tis an old maxim in the schools
That flattery's the food of fools
Yet now and then your men of wit
Will condescend to take a bit."
The great writer Jonathan Swift understood that flattery is powerful enough to trick otherwise very bright individuals ... and that was some three hundred years ago. Yes, some agents know that a good way to get the listing is to flatter you by inflating the value of your house. Or they may sort of lie … (64 comments)

beachwood oh homes for sale: DOES AN OPEN HOUSE SELL YOUR HOME? - 02/02/10 01:31 PM
"I expect my agent to hold an open house every weekend until my house sells."
When your property is first listed on the M.L.S. your real estate agent should hold a broker's open house because this is a terrific opportunity for your property to be exposed to the local real estate community. Here every agent who participates in the M.L.S. is invited to preview your home. Whether they'll actually show-up is another story, especially in a market where supply far outweighs demand. Agents sometimes offer lunch or a raffle for a gift certificate as an inducement to get other agents to attend.

beachwood oh homes for sale: DUELING WITH DUAL AGENCY - 01/31/10 04:24 AM
"I expect my agent to find a buyer for my house. I'm comfortable having my agent on both sides of the deal."
Does it make sense that your agent can negotiate the best price for you ... and also negotiate the best deal for the buyer of your home? If you were in a lawsuit would you feel comfortable sharing the same lawyer with your opponent? What we're trying to say is that A real estate transaction is inherently adversarial. Yet many sellers can't forsee the complications that may arise when their agent brings in their own buyer.

When you … (6 comments)

beachwood oh homes for sale: CITIES HIT HARDEST BY FORECLOSURE - 01/28/10 08:46 AM
RealtyTrac's 2009 foreclosure stats are in and cities in California, Nevada, Arizona and Florida account for the top 20 foreclosure rates in the U.S.

The worst hit city is Las Vegas with one in every twelve households being foreclosed upon last year. Cape Coral, Florida is in a very close second place position. The catalyst for most of the foreclosures was lender products such as toxic ARMS. RealtyTrac adds, however, that foreclosure filings actually decreased in these top 20-cities in the last three months of 2009.
The bad news is that the foreclosure epidemic is now spreading to places other … (1 comments)

beachwood oh homes for sale: IS YOUR HOUSE PRICED TO SELL? - 01/25/10 07:04 AM
"I'm going to price my property higher than what I expect to get because it's smart to leave room for negotiation."
On a good day savvy sellers relied on their real estate agent's Comparative Market Analysis to price their house. With the expectation that prospective buyers will negotiate on price, many sellers often created a sort of buffer zone by padding the price a liitle, and sometimes by a lot.
This is a bad idea in today's buyer's market where thoughtfully priced houses in good condition sell and overpriced ones do not.

Every venue has its own customs. There may be less harm … (2 comments)

beachwood oh homes for sale: EXISTING HOME SALES DOWN NEARLY 17-PERCENT! - 01/25/10 03:56 AM
The National Association of Realtors reports that existing home sales plunged 16.7-percent in December, 2009. This adjustment comes as little surprise since, prior to the extension of the Tax Credit, it was expected that November would be the last month in which buyers could qualify for a federal tax credit in an amount up to $8-Thousand.

Under the new deadline buyers have until the end of April to take advantage of the Tax Credit, plus there is the addition of the $6,500 credit for move-up buyers.
For more on this breaking story follow this link:

beachwood oh homes for sale: THE GREAT "REAL ESTATE AGENT UNDER-PRICED MY HOUSE" MYTH ... - 01/20/10 07:20 AM
"My house sold too quickly because my agent convinced me to under-price it so they could make a quick sale."
How long do you think an agent would stay in business if they made it a practice of under-pricing homes? Alienating clients is not a good business model when you consider that successful agents depend on referrals for future business.
The CEO of our former company used to say that "People hire you because they know you, they like you, and they trust you." Two out of three doesn't cut it.

You may not "literally" know your agent personally but … (0 comments)

beachwood oh homes for sale: THE DOWNSIDE OF A HOME LOAN MODIFICATION - 01/19/10 04:45 AM
With hundreds of thousands of upside-down homeowners suffering from the housing market meltdown,  more and more of us are looking to loan modifications as the answer.
If you're lucky enough to even get a decent loan modification your credit score will amost certainly take a hit. In fact you may find yourself unable to subsequently qualify for a car loan or a credit card!
One positive of a loan modification versus a short sale or a foreclosure is that it will appear as a blemish on your credit report for only a few … (2 comments)

beachwood oh homes for sale: JUST WHEN YOU THOUGHT THE FORECLOSURE CRISIS WAS WINDING DOWN ... - 01/17/10 11:01 AM
Mortgage foreclosures rose 20-percent over 2009 and according to RealtyTrac the crisis is far from over.
The culprits thus far of course have been over-valued housing and poor lending practices and now unemployment is taking its toll. The next wave of foreclosures will likely be the result of Option ARM mortgages that are expected to reset for many home owners who are upside down.
Fo more on this check-out this Wall Street Journal video interview of RealtyTrac's Rick Sharga:

beachwood oh homes for sale: ARE YOUR PROPERTY TAXES TOO HIGH? - 01/16/10 05:20 AM
If you believe that your Cuyahoga County property taxes are too high and you think that you can make a good case for a property tax tax reduction based on some real solid evidence, you have until March 31, 2010 to file a complaint with the Cuyahoga County Board of Revision.

You can complete the Complaint form on line or you can mail it in to:

Room 232
1219 Ontario St. Cleveland, OH. 44113

To access the Complaint form and for a better understanding of the tax abatement process and/or to complete a form on line, … (2 comments)

beachwood oh homes for sale: MY HOUSE SHOULD SELL FOR MORE THAN MY NEIGHBOR'S HOUSE! - 01/16/10 04:05 AM
Few absurdities compare with getting locked into an imaginary competition with a neighbor who made a bundle on their house and has since moved on! We understand your frustration. But even if your house is superior in every single respect to your nemesis neighbor's property, he or she already one-upped you by having better timing.
You're right ... It's not fair! But it happens every day. Price exists in space and time and can change at any time for any reason, regardless of how subjective or arbitrary that reason may seem to you. The … (10 comments)

beachwood oh homes for sale: HUD SUSPENDS HOME FLIPPING RULE - 01/15/10 02:50 PM
HUD today announced a "temporary" one-year measure which overturns its previous prohibition of allowing buyers who receive an FHA loan from selling or "flipping" the purchased property for 90 days or more.
HUD says its motivation for the temporary policy reversal is to "give FHA borrowers access to a broader array of recently foreclosed properties." In short HUD is hopeful that this will speed-up resales of foreclosed properties.
For more on this breaking news you can check-out the press release on HUD's website:

beachwood oh homes for sale: CLEVELAND EASTERN SUBURBS 2010 MARKET UPDATE - 01/14/10 02:15 PM


Mark L. Ostrovsky, Howard Hanna Real Estate Services (Howard Hanna Real Estate Services)

Mark L. Ostrovsky

Howard Hanna Real Estate Services

Beachwood, OH

More about me…

Howard Hanna Real Estate Services

Address: 3550 Lander Center, Pepper Pike, OH, 44124

Office: (216) 577-1156

Mobile: (216) 577-1156

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