Back when I was living in Maryland and working three different part time jobs at a time, one was for a coupon book similar to Val Pak. I enjoyed it because I was able to focus on local businesses and meet some darn good entrepreneurs. We had stiff competition from Val Pak. I saw this article on CrainsCleveland.com about ValPak and thought about why a local Medina gentleman has decided to buy a Val Pak franchise. He said his prior company had good client response from ValPak and they were a long standing company - two reasons why he 'bought in.' Reminds me of the Norelco commercials (I think it was Norelco!) where the guy would say I liked the product so much I bought the company. I'm wondering what our Franchise King Joel would say about this? I have to admit it's been almost two decades since I was in the coupon business -it was interesting to get an update on how it's working. According to the Crains article written by Marilyn Miller, Valpak is the sixth largest media compa
We all wonder about housing sales trends since the turn of the century. As a Realtor® I can get those stats. Real estate 'season' is typically thought to begin in April and go through August. So those are the months I've picked to study during the past seven years. Here are three neighboring communities; I'm listing total number of single family homes sold and the average selling price. (Stats from homes listed with area brokerages)Lakewood2000 206 $168,1032001 214 $153,1462002 184 $148,8872003 226 $161,8782004 203 $164,9122005 209 $176,7482006 211 $178,0102007 173 $171,071Rocky River2000 101 $203,1692001 110 $227,5962002 95 $283,9832003 128 $260,7102004 108 $301,5872005 103 $303,5672006 102 $304,1652007 100 $266,933Westlake2000 135 $288,1752001 148 $279,8432002 139 $283,2672003 173 $325,4312004 147 $320,6812005 157 $363,9942006 136 $336,2792007 115 $347,144Angie Lau did a report a few months back for News Channel Five about hot and not so hot housing markets. She said Westlake ho
Independence and Brecksville are adjacent communities so it seemed appropriate to do a comparison of home sales since January of this year; six months of stats for homes sold by area brokerages:Brecksville:81 single family homes sold23 condos soldThe homes sold ranged in sale prices from $78,000 for a bank owned home to $1,375,000.00 for a new construction luxury home. The averages look like this:2,906 square feet4 BRs, 2 Baths and 2 car garageAverage sale price was $310,649The average amount of days on the market for these homes was 71Average cost per square feet was $110***There are 77 single family homes on the market as of today, in Brecksville, and 34 condominiums. Independence: 20 single family homes soldThey ranged in price from an estate sale at $142,507 to $650,000. The averages:2,399 square feet of living space3 BRs, 2 Baths and a two car garageThe average sale price was $285,047The average number of days these homes were on the market was 94The average cost per square foot w
We have almost six months of statistics available so we can begin to examine housing trends for 2007 in Lakewood. Here are the stats from January 1st to the present:Sold Since January:186 Single Family Homes 48 Condos 44 Multi Family HomesOn The Market Now:391 Single Family Homes144 Condos216 Multi Family HomesWhat about prices and amenities on these homes for sale? Example: You can buy a 4 BR colonial on Parkwood with one full bath and two half baths, central a/c, a garage, an updated kitchen and a finished basement rec/play room for $148,900. How about a 4 BR 1 1/2 bath colonial with almost 1500 square feet of finished space, an updated kitchen, landscaped yard, formal dining room, a finished basement and third floor for $124,000 on Lauderdale. Yes you can now find homes in move in condition in Lakewood for less than $130k.Lakewood has always been a destination of choice because of the vibrant business district, parks, City services, First Time Home Buyers Program and quick acces
I have no idea how we have managed to already find ourselves at the end of June, but so be it. Sales in zip code 44113 are still intriguing; condos and town homes are continuing to be the top picks in this zip code. Here is what happened in June:16 Properties had 'activity.' 3 of them are contingent, meaning they went under contract and have not closed yet. Of these three, all are attached dwellings (condos or town homes). The asking price for these three homes was $16,104, $184,900 & $204,750. (We won't know the sale prices until they close).13 Properties Sold. 3 of them were single family homes. 10 of them were Condos/Town Homes. The Average Ask Price was $184,115 and the Average Sale Price was $179,408. The average price per square foot was $99. Again, since only three of these properties were single family homes, the average sale was for a 2 BR, 2BA unit with 2,272 square feet. And a two car garage.There are a total of 174 homes on the market in zip code 44113. The break
Richmond Heights is 90 years old this year (it was Incorporated in 1917) . Just over 10,000 people live there, according to the 2000 U.S. Census. Current stats show the High School has a 95% graduation rate and one of the major industries in town is the General Electric Lamp Glass Company. According to the latest edition of the City newsletter, Miss Ohio 2007 is a Richmond Heights gal (Anna Melomud). The newsletter also mentions some recommended home safety maintenance tips you might want to check out on page six. Most homes in this community are 30 years old or younger; 30 years ago is when most of the City's development began to occur. So what's happened in the housing market here since January 2007? Let's take a look:34 Homes have sold since the beginning of the year. Here are the averages on these homes:1,880 square feet of living space; 3 BRs, 2 BA, and a two car garage. The average Ask Price was $181,602. The average Sale Price was $173, 429. That came out to an average of $87
The National news is abuzz with the 2006 figures for foreclosures which are out now. This is not news to us in NE Ohio since our figures have been public and discussed for some time. I wrote about it several times, for example, here.The end result is that I wind up showing many more bank owned homes to buyers than ever before. With so many homes in almost every market in Northeast Ohio for sale, there is a lot to pick from. Yes, it's a buyer's market. As it turns out, banks are realizing they have to be competitive in the same way private owners who put their homes for sale are being competitive. This means it's now possible to find bank owned homes that have been upgraded.An example: I have a client with a contract on a home in Cleveland. We had looked at about six homes, and one of them was owned by Fannie Mae (which means the foreclosure occurred on a government loan. After Fannie Mae took it over, they made significant improvements to the home: upgraded the kitchen with new ever
In the following press release Cuyahoga County Prosecutor Bill Mason announced that in 2006, Sammy Quick, 29, of Brookpark, and Brian Cicerchi, 29, of Middleburg Heights, partners at First Primary Mortgage Inc., deceived a woman out of her Brooklyn home at 8987 Boxwood Circle through a “foreclosure rescue scheme.” The victim got behind in mortgage payments and sought help from mortgage broker, First Primary Mortgage, Inc, located at 6902 Pearl Road, in hopes of keeping her home.The victim was raised in her parent’s house at 8987 Boxwood Circle in Brooklyn and was deeded this house by her parents when her father died. Her mother became ill and needed to be placed in a nursing home, so she took out a mortgage on her house to help pay for her mother’s nursing home. Her mother passed away while in the nursing home, and thereafter fell behind in her monthly mortgage payments.She was notified that her house was in foreclosure. She contacted First Primary Mortgage, Inc
In a press release it was announced that Cuyahoga County Prosecutor Bill Mason (pictured left) continues his battle against predatory lending and mortgage fraud by prosecuting two more cases. One case involves 13 defendants connected o one house that sold for $625,000 in Shaker Heights. The other case involves 8 defendants and a house that sold for $165,000 in Oakwood Village. Five cases have now been indicted since January 1, 2007, totaling 93 defendants and over $5 million in loans for 45 houses located in 9 communities: Shaker Heights, Oakwood Village, Cleveland, East Cleveland, Cleveland Heights, Solon, Pepper Pike, Garfield Heights, and Brook Park.“These criminals are devaluing our communities with foreclosures, blight, and vacant properties,” said Prosecutor Bill Mason. “My goal is to stop this economic mugging of our neighborhoods. These continuing indictments should send the message that Cuyahoga County is not a safe place for predatory scam artists. We a
In a press release Cuyahoga County Prosecutor Bill Mason announced indictments in the following matter which involved a property in Shaker Heights, Ohio. Ayanna Israel, 29, of Middleburg Heights, owned a house at 21999 Shelburne Road. In the fall of 2003, Israel rented the house to William Daniel, 39, of Cleveland.Daniel, with the assistance of Artist White, 47, of University Heights, who was acting as his broker, wanted to buy the house, but Daniel did not have good credit. Israel’s live-in boyfriend and business partner, Jeffrey St. Martin, 33, of Middleburg Heights, knew that Renita Burke, 44, of Euclid, had a better credit rating and assisted her in buying this house from Israel for $625,000 on December 31, 2004. Burke then signed a deal with Daniel that granted him the option to buy the house while he continued to live there.Israel also acted as Burke’s mortgage broker to find a lender to finance a loan of $550,000 needed to close the purchase. Israel and Burke knowing
In a press release Cuyahoga County Prosecutor Bill Mason announced indictments in the following case which is alleged to have taken place in Oakwood Village, Ohio. Lavon Ivy, 36, and her parents, John Ivy, 70, and Caroline Ivy, 64, all of Orange Village, deceived Kenneth O’Neal, 51, of Warrensville Heights, when he purchased a house for $90,000 at 25349 Tyron Road in Oakwood Village, near Bedford, Ohio. Although a victim of this deception, O’Neal falsified his application that inflated his income and bank accounts and signed a document falsely indicating that he made a $42,000 down payment. The mortgage broker, M & S Investment, of Akron, and its loan officer, Phillip Stevens, 52, of Akron, fraudulently processed the loan. The Ivy family, O’Neal, Stevens, and his company have been indicted.After O’Neal signed the purchase agreement, he contacted Lavon, an unlicensed mortgage broker, to close the deal. Lavon fraudulently substituted O’Neal’s purch
