Cleveland's Real Estate Market is driving us crazy.

[216facts]

Originally Posted by Transplant99

It's legal to decide who you want to sell your home to. For example, I can imagine that some sellers would, for sentimental reasons, reject the offer of a buyer who plans to tear the house down and rebuild, even if that buyer offered a higher purchase price than another buyer.

I don't think it's legal if your decision is based on race, color, or creed. Granted, this may be difficult to prove for single sales.

[216facts]

Interesting report from the Bank of America on domestic migration flows.

https://business.bofa.com/content/da...-continues.pdf

"A key theme that shaped the housing market during the pandemic was domestic migration (i.e., people moving within the US).
While data from the Census Bureau is broken down by metropolitan statistical areas (MSAs), it is only updated annually and can
be outdated for real time analysis"

Also reviewed by NEOtrans: https://neo-trans.blog/2023/06/08/bo...-to-cleveland/

From the NEOtrans article:
* Cleveland, Tampa and Dallas each saw a 6 percent increase in Millennial population over the past three years, all ranking second to Austin’s 16 percent growth rate, BofA said.
* apartment rents are rising faster in Greater Cleveland than in any other urbanized region in Ohio
* Data for Greater Cleveland showed that, since about 2017, more people with college degrees were moving into the region than moving out

[OhioNative]

Originally Posted by WRnative

I've repeatedly suggested Mentor or Willoughby, but you apparently consider them too far from Cleveland, or not sufficiently "progressive," but they offer a lot of housing value and offer much better parks and natural areas and retail access than the cities you are listing.



I know of no city in Greater Cleveland with better recreational amenities than Mentor, and it has very reasonable property taxes and excellent emergency services. The new Cleveland Clinic hospital in Mentor will open soon.



Personally, I find driving from central and western Lake County to Beachwood Mall/Legacy Village, University Circle and downtown very, very easy (I could give you driving/parking tips for all of these places).


Painesville would offer even better housing values than Mentor. Like Euclid, some of its neighborhoods are much better than others -- Cummings/Charlotte for older homes and newer houses off Cedarbrook.



I'm surprised that the housing market in places such as Richmond Heights, Lyndhurst and South Euclid are so competitive, especially given higher mortgage rates.



I agree with bjimmy that if you're looking at those three cities, you should consider the nicer neighborhoods of Euclid -- north of Lakeshore Blvd. and off Lloyd Road. The area of Willowick off Lloyd Road also is nice, and offers access to Laketran's Dial-a-Ride, point-to-point shuttle service, superb for seniors.


Have you contacted realtors familiar with Lake County and/or Euclid?


Apparently there is a housing supply crisis nationally. I heard CNBC's housing expert today speculate that Cleveland will see an influx of buyers given its relatively low prices.... If Cleveland is so difficult, I wonder what other areas you might consider are like. The following video was truncated and didn't include the comment about Cleveland.


https://www.cnbc.com/video/2023/04/0...dy-walden.html

IMO, you're much too obsessed with "progressive" areas and underestimate the qualities of persons living in Lake County. It will be interesting, but I have a hunch you'll see many fewer Trump signs in Lake County in this election cycle, but perhaps I'm just an optimist. Politics are only an issue if you make it one, and I know many persons of polar opposite political views (based on their political signs) in my neighborhood who are friendly with each other.


I understand the appeal of North Collinwood, but I'm very discouraged by the emergency services crisis in Cleveland.


Good luck!!!

We just returned from a week long visit to Mentor, on the south side near I-90. We had forgotten how ridiculously convenient it really is to everything. We timed it as 23 minutes to Beachwood Place, 27 minutes to the Art Museum, 29 minutes to Progressive Field, and 33 minutes to the car rental return at the airport. We would love to have that level of convenience where we are in the north Atlanta suburbs. And the traffic is non-existent compared to ATL. It’s almost enough for us to consider moving back up there.

[airics]

Originally Posted by Transplant99

It's legal to decide who you want to sell your home to. For example, I can imagine that some sellers would, for sentimental reasons, reject the offer of a buyer who plans to tear the house down and rebuild, even if that buyer offered a higher purchase price than another buyer.

Actually I don’t think that’s what is happening

Let’s say I list a house for 300
I have 325 fha 300 conventional or 280 cash with waiving everything

I’m taking the 280

[Transplant99]

Originally Posted by airics

Actually I don’t think that’s what is happening

Let’s say I list a house for 300
I have 325 fha 300 conventional or 280 cash with waiving everything

I’m taking the 280

You're likely right in many cases, but my post was not intended to be an analysis of Cleveland's real estate market. I was only providing an example of one situation in which a seller might accept an offer with a lower purchase price and, more importantly, to make the point that a seller is not prohibited by law from an accepting an offer that does not contain the highest purchase price.