Why Cleveland home sell so cheap? (Minerva, Congress: transplants, house, layoffs)

[Minervah]

Originally Posted by Sreysrey

I'm from CA and looking at realtor.com for fun and see that homes in Cleveland so cheap! I can't believe the price from $2,000. Why?

So is everyone there a homeowner?
Got me thinking to invest in homes there as a starter since CA too expensive.

Actually everyone here is not a home owner. You have to remember that salaries and COL fall in line with housing prices. You aren’t going to see California housing price tags on Cleveland houses. But having said that I used to live in the PNW and l know you can buy a palace here for the same money that would buy a shack either there or on the West Coast.

[Arya Stark]

Originally Posted by Kamms

Regardless, point of thread not about snow, the Great Lakes, Lansing, MI, Erie, PA, or your personal experience with any of these topics.

What are you the thread relevancy police? Welp better get to work because there are a few threads that have that issue.

[Kamms]

Originally Posted by EmilyFoxSeaton

What are you the thread relevancy police? Welp better get to work because there are a few threads that have that issue.

Well, at least you admit to making non-relevant posts; just not sure what the reason for doing so is.

Any actual thoughts on Cleveland real estate investing?

I'm sure you tried to derail those other threads like you did here.

[D231]

$2000 in Cleveland will get you a maybe decent condition house in the ghetto.

Still, houses all throughout Cleveland are relatively cheap compared to the rest of the country. A newer 3,000 Sqft. house on a half acre in the suburbs will cost you around $300-350,000.

Property taxes are also cheap in most of Cleveland. More historic neighborhoods that don't have a lot of industrial zoning like Shaker Heights or Cleveland Heights will have higher property taxes.

[gouldnm]

Originally Posted by Minervah

Actually everyone here is not a home owner. You have to remember that salaries and COL fall in line with housing prices. You aren’t going to see California housing price tags on Cleveland houses. But having said that I used to live in the PNW and l know you can buy a palace here for the same money that would buy a shack either there or on the West Coast.

From what I've seen, you get a lot more bang for your buck when it comes to housing in the Midwest vs. the coasts. The catch is that the economy is a lot less stable. It is rare to see people on the coasts move away from where they grew up because they can always find a job close to home. In the Midwest, you are taking a much greater risk.

[teacherdad]

I've been visiting CLE about 5x per year for the last three and did not find a lack of "hiring" while there. The best gig for a west coast guy like me...retire, collect retirement, live in CLE, work the stands for games and see them all free. Health facilities some of the best in the world, parks, theatre, etc. There is no shortage of things to do. Don't like people? Buy out of town on 2 acres for a fraction of a west coast price and just relax and find a hobby.

[Sreysrey]

Originally Posted by D231

$2000 in Cleveland will get you a maybe decent condition house in the ghetto.

Still, houses all throughout Cleveland are relatively cheap compared to the rest of the country. A newer 3,000 Sqft. house on a half acre in the suburbs will cost you around $300-350,000.

Property taxes are also cheap in most of Cleveland. More historic neighborhoods that don't have a lot of industrial zoning like Shaker Heights or Cleveland Heights will have higher property taxes.

How ghetto is a ghetto over there? Over here ghetto is everywhere lolz. On the map I clicked on the crime rate and it is a dark color meaning crime is high. So I played around with my area and it is high also and I was surprised!

Is it scary to live in those cheap area or just mind your own business and you will be ok? Growing up I always hear that Compton is very bad and one day I accidentally drove through it and I didn't even realized I was in Compton. It is nothing like what I have heard. The city didn't scared me.

So for me to find out there is a place selling so cheap I just can't wrap it around my head yet. How much would these houses cost to remodel them and rent it out? Is it possible to find renter fast?

I always want a home near a lake I like suburban life more than city life but I cannot move away from the city...to many responsibility and obligation here.

[Sreysrey]

Originally Posted by teacherdad

I've been visiting CLE about 5x per year for the last three and did not find a lack of "hiring" while there. The best gig for a west coast guy like me...retire, collect retirement, live in CLE, work the stands for games and see them all free. Health facilities some of the best in the world, parks, theatre, etc. There is no shortage of things to do. Don't like people? Buy out of town on 2 acres for a fraction of a west coast price and just relax and find a hobby.

That sound like my dream life

[Minervah]

Originally Posted by gouldnm

From what I've seen, you get a lot more bang for your buck when it comes to housing in the Midwest vs. the coasts. The catch is that the economy is a lot less stable. It is rare to see people on the coasts move away from where they grew up because they can always find a job close to home. In the Midwest, you are taking a much greater risk.

My experience living in the PNW anyway was just the opposite. Constant layoffs and business shut downs. Only some professions flourished. But just as in the Midwest, much of that depended upon what type of work you did.

[Sreysrey]

Everyone respond is very helpful. Thank you. I'm interested in Cleveland now and will study more about it. Will visit one day.