Home values are still seeing great appreciation in a lot of areas according to https://www.cleveland.com/. I wanted to look at some cities we do business in and others we do not.
1. Lyndhurst is up 18% in home value this year. A great city to buy,sell and lease real estate in. They are easier to work with and the city has all the amenities any other city has. I live here and there is all the shopping, eating and care services minutes from my home. This city is demanding higher rents and a better way of life.
2. Parma is up 22% and a nice city that also has all the amenities you need to live by. The area screams quality and demands higher rents. Parma is one of the safest cities in the country. The city is ok to work with and they are not too demanding.
3. Bedford is up 17% and will continue to climb. Since getting rid of the Point of Sale they are attracting more homeowners and that drives up values. Bedford is a great city to be in and close to all the higher end cities in the area. I personally lived there for 10 years and liked it. Lease prices are going up also and the demand is very high.
4. One city I do not buy in Shaker Heights only saw a 5% increase. Nice city with all the amenities except the city is very hard to deal with, They have many inspections and the cost is never known until you get the POINT of SALE inspection report. I have done some deals in Shaker Heights and the building department can skyrocket your rehab cost.
There are a few other cities I like and we stay in those areas. to name a few more Cleveland (West) up 23%, Oakhill up 18% and South Euclid up 18%.
We are always looking at the pricing trends in areas where we purchase real estate for us and our clients. Also cities that have all the amenities and have good cities to work with.
Need real estate to live in or invest in? Call me (Brett) 216-703-5740 Fathom Realty or sign in below
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Thank you