mark ostrovsky: DOES YOUR 911 SERVICE WORK? - 07/14/10 03:01 AM
The City of Beachwood, Ohio warns residents to make certain that their 9-1-1 emergency telephone service works.
This applies "only" to those residents who have changed their telephone service from traditional lines to cable. In some cases this may have affected the 9-1-1 emergency telpephone line as it may not have been properly configured.
If you have switched your service to Internet and want to test your 9-1-1 calling ability you can call the Beachwood Police Department at 216-464-1234. DO NOT HOWEVER CALL 9-1-1!

mark ostrovsky: SHAKER HEIGHTS OHIO HOME SALES UPDATE - 05/13/10 04:18 AM
So how did January 1st through April 30, 2010 sales in Shaker Heights, Ohio stack-up against sales during the same period in 2009? Home sales increased and so did prices! So something's working, right?
Days on the market remained about the same.
Find a Home:

mark ostrovsky: SHOULD I BUY OR SHOULD I RENT? - 04/21/10 08:50 AM
That is the question, and the answer may differ greatly depending on where you live. Hindsight being 20/20, renting obviously would have made a lot of sense over the past decade in markets that would virtually plummet in value when the housing bubble burst. On the other hand some markets, such as Portland, Oregon, San Francisco and Seattle seem virtually unscathed and many of us perhaps wish that we had invested in property in these areas.
So with the looming deadline to take advantage of the tax credit, the New York Times took data from Moody'sEconomy.Com, … (0 comments)

As hard as it is to believe Spring is just around the corner in Beachwood, Ohio and Spring means SPRING CLEANING!

From May 3rd through May 8th you can get rid of all that potentially toxic and hazardous stuff in your garage and/or basement by dropping it off at Door #5 at the City of Beachwood's Service Department. Hours are from 7:30 A.M. to 4:00 P.M.

Among the items that will be accepted are oil or solvent-based paint, sealers, primers, varishes, polyurethanes, shellacs, paint thinner, mineral spirits, turpentine, pesticides, herbicides, fungicides, caustic household cleaners, automotive fluids, motor oil, car … (1 comments)

mark ostrovsky: 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:

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)

mark ostrovsky: 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)

mark ostrovsky: WE NEED TO DO A BETTER JOB WITH LOAN MODIFICATIONS ... - 02/19/10 02:24 AM
If "An ounce of prevention is worth a pound of cure," the nation's lenders have thus far not done a very good job becoming part of the solution. Turns out that Federal foreclosure prevention programs have helped a mere 12-percent of those homeowners who have applied to have their loans modified. This is not good news.

HAMP, a/k/a the Home Affordable Modification Program, aims to reduce mortgage payments for underwater homeowners to as little as 31-percent of their pre-tax monthly income. This figure includes principal, interest, taxes and insurance and other debts if possible. Amazingly only one 1-million or so homeowners … (5 comments)

mark ostrovsky: 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:

mark ostrovsky: 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)

mark ostrovsky: BEACHWOOD OHIO HOME SALES - 02/11/10 09:10 AM
Home sales actually increased in number as well as dollar amount in Beachwood, Ohio in 2009. This despite all of the negative news about real estate in the media! Here's a snapshot of sales in Beachwood, Ohio in 2009 versus 2008.


It should be noted that it did take homes longer to sell last year than it did in 2008 but as the figures above indicate it was worth the wait for home sellers. The average days on market in 2008 ranged from 92 to 137. The average last year was between 111 and 155!
FIND … (0 comments)

mark ostrovsky: HOME SALES SURGE ALMOST 14-PERCENT! - 02/11/10 08:41 AM
This just in from the National Association of Realtors (NAR) ... existing U.S. home & condominium sales increased 13.9-percent in the fourth quarter of 2009. More than 30-states actually saw sales increases in the double-digits!

Even though distressed property sales accounted for more than 30-percent of the sales, this number was down from the prior year's 37-percent.
Experts claim that Low mortgage rates and the first-time buyer tax credit get responsiblity for the surge in residential sales.
To Find-out How Your State Fared:

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)

mark ostrovsky: “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)

mark ostrovsky: Cleveland Ohio Weather History Lesson - 02/10/10 08:24 AM
Today's History Lesson. Upon arriving on the banks of the Cuyahoga in 1796, Moses Cleaveland told members of his expedition, "We'll stop here and wait for the weather to break."

O.K., that was a joke. And, yes, our winters can be pretty tough but there's lots to do here and you can get an amazing house that would cost a virtual fortune in many other places.
By the way according to local legend Moses and his expedition are still waiting.

mark ostrovsky: ABSOLUTE BEST DEAL IN SHAKER HEIGHTS OHIO - 02/10/10 05:56 AM

Silent Auction - $99,000.00 is the starting price, at or above which the seller will consider accepting offers. Please submit offers now. All offers will be considered and responded to within 48 hours. This is a short sale & is subject to lender approval. This event ends with the seller's acceptance of an offer, but no later than February 19th. Fabulous Fernway opportunity! Unusually spacious 4 bedroom 3.5 bath, clean & stately Fernway Tudor-Style Colonial with gleaming hardwood floors, 2 fireplaces; sunroom; larger master bedroom with bath, walk-in closets & decorative vintage fireplace; fabulous lower-level rec room; 3rd floor … (1 comments)

Yes, the market is stabilizing to a certain degree but experts like former HUD Secretary Henry Cisneros claim that recovery is tenuous AT BEST and that stimulus programs like the first-time homebuyer tax credit absolutely "must" continue if we are to avoid a so-called "double-dip" recession.

Follow this link for Cisneros' interview:

If you're looking for some family-friendly activities and would like a great $5.00 breakfast on Valentine's Day then look no further. The City of Beachwood will host its annual Winterfest & Pancake Breakfast on February 14th at the Beachwood High School at 25100 Fairmount Blvd.

Admission includes as many pancakes as you can stand to eat, sausage, coffee, fruit, tea & cocoa. If you want to create your own omelet it's only $3.00 extra.
Activities include face-painting, karaoke, crafts exhibit, remore racecar driving & more. Children under five are admitted free of charge!

mark ostrovsky: THE REAL ESTATE MARKET'S NEW NORMAL? - 02/03/10 10:50 AM
Don't hold your breath if you're waiting for the real estate market to return to what it was like before the downturn. The author of a new study called "Housing in America" claims that we can look forward instead to what he calls a "new normal."

John McIlwain, the Urban Land Institute's resident fellow says that 2010 will bring an additional ten-percent decrease in residential property prices as well as increasingly more borrowers walking away from underwater mortgages. McIlwain says he expects the subsequent market recovery to be a one to two-percent per/year appreciation in home prices, and that the number of Americans … (1 comments)

mark ostrovsky: 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.

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

Email Me



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