It's been a busy few weeks since Howard Hanna Smythe Cramer and Realty One merged into Howard Hanna Realty. This merger brings the strongest aspects of each company under one roof with a combined total of 2400 agents and the lion's share of the Cleveland market. I'm very happy to be a Howard Hanna agent and I'm looking forward to an improving real estate market in the next few months! The old Realty One office on Warrensville is now the Shaker Heights-Gold office of Howard Hanna. It will probably take a year or so to decide which offices will merge, close, or move. For now I'm still at 20515 Shaker Blvd. in Shaker Heights.
I hope your Thanksgiving was a joyous one with family and friends!
To see my listings go to www.scotthaigh.howardhanna.com or www.scotthaigh.com
Saturday, November 29, 2008
Thursday, October 16, 2008
GOOD NEWS FOR FIRST-TIME HOME BUYERS!!
On July 30, 2008, President Bush signed H.R. 3221, the Housing and Economic Recovery Act of 2008, a major housing bill providing a tax credit up to $7500 for first-time home buyers. This is for purchases between April 9, 2008 and July 1, 2009. Note that this is a tax CREDIT, not a deduction. Anyone who has who has not had an ownership interest in a principal residence in the previous three years is eligible, up to certain income limits. Those limits are $75,000 for single tax filers and $150,000 for joint filers. The credit is 10% of the purchase price of the home with a maximum credit of $7500. For example, if you purchased a home for $65,000 your tax credit would be $6500. This amount would apply both to single and married taxpayers. If your income exceeds the limits then your credit would be reduced by a formula set by statute. Call me for details. If income exceeds $95,000 (for singles) or $170,000 (for joint returns) then no credit will be allowed. Also, people who obtain financing through mortgage revenue bond (i.e. through a tax-exempt bond-related program offered by a state housing agency) are not eligible. Here’s the rub… this tax incentive must be paid back over 15 years. I.E. 6.67% of the credit must be paid back each year. For a taxpayer receiving the full $7500 credit the yearly payback amount would be $502.50.
If you receive the full $7500 credit and your tax bill is less than $7500, would receive a refund. For example, if your tax bill was $6000 and you purchased a home for $75,000 or more you would receive a refund of $1500.
The only down side of this legislation is that this credit will not be useable as part of a downpayment, since you cannot claim the credit until you file your 2008 taxes in 2009, and the credit is only available for purchases up to July 1, 2009 (That means title transfers before July 1, 2009. So as a practical matter unless you get a tax refund in time to apply it to a downpayment and close on a purchase before July 1st, you won’t be able to use the credit for a downpayment.)
On balance I think this is a wonderful help to first-time buyers and it should be taken advantage of. Ask your realtor about it!
If you receive the full $7500 credit and your tax bill is less than $7500, would receive a refund. For example, if your tax bill was $6000 and you purchased a home for $75,000 or more you would receive a refund of $1500.
The only down side of this legislation is that this credit will not be useable as part of a downpayment, since you cannot claim the credit until you file your 2008 taxes in 2009, and the credit is only available for purchases up to July 1, 2009 (That means title transfers before July 1, 2009. So as a practical matter unless you get a tax refund in time to apply it to a downpayment and close on a purchase before July 1st, you won’t be able to use the credit for a downpayment.)
On balance I think this is a wonderful help to first-time buyers and it should be taken advantage of. Ask your realtor about it!
Saturday, September 13, 2008
Tips on finding lender..
Here is some good advice when searching for a mortgage....
http://www.realliving.com/Data/1/extra/5_steps_lender.pdf
http://www.realliving.com/Data/1/extra/5_steps_lender.pdf
Wednesday, August 27, 2008
Cleveland Heights Sales Trends
Here is a summary of the absorption rates of homes for sale in Cleveland Heights for June, July, and August (up to August 24) These figures are based on data from the local MLS
JUNE
Less than $100,000- 53%
$100,000-200,000- 20%
$200,000-$300,000- 14%
$300,000+ 23%
JULY
Less than $100,000- 55%
$100,000-200,000- 14%
$200,000-$300,000- 11%
$300,000+ 18%
AUGUST
Less than $100,000- 52%
$100,000-200,000- 8%
$200,000-$300,000- 13%
$300,000+ 8%
Conclusion: the fastest selling homes are those under $100,000. June was the strongest month for sales, as expected, and then July and August saw a significant drop in the absorbtion rate for homes over $100,000, while homes under $100,000 continued to experience good sales into August. Sold price per sq. ft. declined significantly over the three summer months except in the $300,000+ category, meaning the more expensives home seem to be holding their value.
Days on Market
This changed very little over the three months and averaged as follows:
Under $100,000 - 89 days
$100,000-$200,000- 102 days
$200,000-$300,000- 116 days
$300,000+ 149 days
Scott Haigh, Realty One
Tuesday, August 26, 2008
Cleveland a smash at the Salzburg Festival!
The past 17 days here have been really special! Not only is this a beautiful city surrounding by picturesque mountains, the Cleveland Orchestra's performance here have been truly great. The critics have been united in their highest praise for the orchestra and it's Music Director, Franz-Welser Most. Simply put, we are the "hit" of the festival. The opera, Dvorak's "Rusalka", was exquisite with unbelievable singing. Last night a post-concert dinner reception was held in St. Peter's Keller, which is a restaurant founded in the 800's. It was quite lavish and the food delicious. You can imagine the sense of history here since Mozart and Herbert von Karajan were born here and you can tour their childhood homes. Johann Doppler of the famous Doppler Effect was also born here.
A few days ago I went on a very physical 5-hour hike on top of Untersberg Mountain, outside of town here. The next day my legs were SO SORE, but it was worth the views from 6000 feet up! Tomorrow we move on to Linz for a few days and then on to Lucerne. Make a special effort to visit Salzburg-- it's a really neat place.
More later....
A few days ago I went on a very physical 5-hour hike on top of Untersberg Mountain, outside of town here. The next day my legs were SO SORE, but it was worth the views from 6000 feet up! Tomorrow we move on to Linz for a few days and then on to Lucerne. Make a special effort to visit Salzburg-- it's a really neat place.
More later....
Real Estate Time-Out in Salzburg
Back in Salzburg with the Cleveland Orchestra for a Real Estate Time-Out (Members Only) (edit/delete)
I am back in Salzburg with the Cleveland Orchestra for two weeks, then a week at the Lucerne Festival, and then concerts in Turin and Milan, Italy. It's great to be back in this beautiful city of music and today we had a six-hour rehearsal on Dvorak's opera "Rusalka". The singers are are world-class and acoustics of the renovated and redesigned Mozart Haus are fabulous. This is normally the summer home of the Vienna Philharmonic and rumor has it that they (or at least their fans) ARE NOT happy that we have such a long stay here, but I suppose the controversy about it will generate publicity, which is ALWAYS a good thing. It's been a long time since we played in Salzburg and this residency is A BIG DEAL for the Cleveland Orchestra. Of course this is good for the Cleveland real estate community because it proves what a good quality of life can be had in our area.
Although I have email over here, my real estate activities are mostly on hold for three and a half weeks, but a fellow agent is covering for me. These next few weeks are likely to be very slow anyway. It gives me a good chance to recharge my real estate "batteries"!
While on tour I've been reading the many responses to an AR blog about the value of broker's opens. It was good to read so many opinions and I've learned a lot. More opinions from the Cleveland area would be appreciated. I think they are great to get to know the inventory, but I'm not sure about the value to sellers, other than making them feel good. (They would feel REALLY good if I sold their homes for them!)
More posts from Europe to come......
Scott Haigh, Realty One, Shaker Office
I am back in Salzburg with the Cleveland Orchestra for two weeks, then a week at the Lucerne Festival, and then concerts in Turin and Milan, Italy. It's great to be back in this beautiful city of music and today we had a six-hour rehearsal on Dvorak's opera "Rusalka". The singers are are world-class and acoustics of the renovated and redesigned Mozart Haus are fabulous. This is normally the summer home of the Vienna Philharmonic and rumor has it that they (or at least their fans) ARE NOT happy that we have such a long stay here, but I suppose the controversy about it will generate publicity, which is ALWAYS a good thing. It's been a long time since we played in Salzburg and this residency is A BIG DEAL for the Cleveland Orchestra. Of course this is good for the Cleveland real estate community because it proves what a good quality of life can be had in our area.
Although I have email over here, my real estate activities are mostly on hold for three and a half weeks, but a fellow agent is covering for me. These next few weeks are likely to be very slow anyway. It gives me a good chance to recharge my real estate "batteries"!
While on tour I've been reading the many responses to an AR blog about the value of broker's opens. It was good to read so many opinions and I've learned a lot. More opinions from the Cleveland area would be appreciated. I think they are great to get to know the inventory, but I'm not sure about the value to sellers, other than making them feel good. (They would feel REALLY good if I sold their homes for them!)
More posts from Europe to come......
Scott Haigh, Realty One, Shaker Office
Thursday, August 21, 2008
Back in Salzburg with the Cleveland Orchestra for a Real Estate Time-Out
I am back in Salzburg with the Cleveland Orchestra for two weeks, then a week at the Lucerne Festival, and then concerts in Turin and Milan, Italy. It's great to be back in this beautiful city of music and today we had a six-hour rehearsal on Dvorak's opera "Rusalka". The singers are are world-class and acoustics of the renovated and redesigned Mozart Haus are fabulous. This is normally the summer home of the Vienna Philharmonic and rumor has it that they (or at least their fans) ARE NOT happy that we have such a long stay here, but I suppose the controversy about it will generate publicity, which is ALWAYS a good thing. It's been a long time since we played in Salzburg and this residency is A BIG DEAL for the Cleveland Orchestra. Of course this is good for the Cleveland real estate community because it proves what a good quality of life can be had in our area.
Although I have email over here, my real estate activities are mostly on hold for three and a half weeks, but a fellow agent is covering for me. These next few weeks are likely to be very slow anyway. It gives me a good chance to recharge my real estate "batteries"!
While on tour I've been reading the many responses to an AR blog about the value of broker's opens. It was good to read so many opinions and I've learned a lot. More opinions from the Cleveland area would be appreciated. I think they are great to get to know the inventory, but I'm not sure about the value to sellers, other than making them feel good. (They would feel REALLY good if I sold their homes for them!)
More posts from Europe to come......
Scott Haigh, Realty One, Shaker Office
Although I have email over here, my real estate activities are mostly on hold for three and a half weeks, but a fellow agent is covering for me. These next few weeks are likely to be very slow anyway. It gives me a good chance to recharge my real estate "batteries"!
While on tour I've been reading the many responses to an AR blog about the value of broker's opens. It was good to read so many opinions and I've learned a lot. More opinions from the Cleveland area would be appreciated. I think they are great to get to know the inventory, but I'm not sure about the value to sellers, other than making them feel good. (They would feel REALLY good if I sold their homes for them!)
More posts from Europe to come......
Scott Haigh, Realty One, Shaker Office
Tuesday, June 17, 2008
Cleveland Real Estate News
There is interesting news about the real estate market in Cleveland. According to data from NORMLS (Northern Ohio Regional Listing Service), sales in Cuyahoga county from April '07 to April '08 are actually up 5.1% and the number of new listings declined 8.8% for the same period, indicating that progress had been made in working through the housing inventory The down side is that the average price has declined 14.8%. If you are looking for a home for the long term, this is an excellent time, with great prices and low interest rates.
Although the Cleveland has been one of the centers of the real estate meltdown, local government is beginning to tackle the problem. Recently the City of Cleveland went after some of the abusive lenders in court- one of the first cities to do so. In addition, Cuyahoga County prosecutor Bill Mason obtained convictions against three people involved with mortgage fraud. Read about it here: http://blog.cleveland.com/plaindealer/2008/06/trio_convicted_in_mortgage_fra.html
The recent bad news about Continental Airlines cutting back direct flights from Cleveland and therefore putting their plans to add 700 jobs in Cleveland on hold has been balanced by the news that the Defense Finance and Accounting Service is adding 600 jobs to the Cleveland area. The DFAS does accounting work for the U.S. Navy and Marine Corps. That could potentially pump 4.8 million dollars into the downtown economy. Read about it here:
http://blog.cleveland.com/business/2008/06/dfas_adds_600_jobs_to_clevelan.html
Cleveland has had bad spells through it's history but it has a fighting spirit and it is taking good steps towards making progress against the real estate problem.
It is still one of the most livable cities in America and I love it here! Take advantage of this week's great weather and look at some homes!
Although the Cleveland has been one of the centers of the real estate meltdown, local government is beginning to tackle the problem. Recently the City of Cleveland went after some of the abusive lenders in court- one of the first cities to do so. In addition, Cuyahoga County prosecutor Bill Mason obtained convictions against three people involved with mortgage fraud. Read about it here: http://blog.cleveland.com/plaindealer/2008/06/trio_convicted_in_mortgage_fra.html
The recent bad news about Continental Airlines cutting back direct flights from Cleveland and therefore putting their plans to add 700 jobs in Cleveland on hold has been balanced by the news that the Defense Finance and Accounting Service is adding 600 jobs to the Cleveland area. The DFAS does accounting work for the U.S. Navy and Marine Corps. That could potentially pump 4.8 million dollars into the downtown economy. Read about it here:
http://blog.cleveland.com/business/2008/06/dfas_adds_600_jobs_to_clevelan.html
Cleveland has had bad spells through it's history but it has a fighting spirit and it is taking good steps towards making progress against the real estate problem.
It is still one of the most livable cities in America and I love it here! Take advantage of this week's great weather and look at some homes!
Monday, May 26, 2008
Teaming up with business partner
As the weather has improved and the real estate market has begun to inch forward things have gotten pretty interesting for me in the last month. The most important thing is that I teamed up with fellow agent Tom Gron to handle listings together. It will be interesting to see how our strengths and weaknesses complement each other. It's sure nice having two people working on projects instead of one and it seems there is a synergy there. We wrote two new listings in the last few weeks so things are picking up. I had the chance to write "on the spot" offers on two bank-owned properties and that was a learning experience! Actually in retrospect they seem fairly easy since they are "as is" and there are almost no contingencies.
Things with the Cleveland Orchestra are still quite busy as we wind down the season with a performance of Dvorak's opera "Rusalka". We're taking it to the Salzburg Festival in August for 10 days, then on to the Lucerne Festival for a few days and then on to Milan and Turin. I look forward to this long tour but I don't look forward to being away from my family for so long.
My teaching at Oberlin College is done for the year so I'm finally getting a chance to unwind and get caught up on things.
Today is barbecue day and honor our soldiers and vets day. I hope you have a good holiday!
Check our sites: http://www.tomgron.com/ http://www.scotthaigh.com/ www.realtyone.com/scott.haigh
www.realtyone.com/tom.gron
Things with the Cleveland Orchestra are still quite busy as we wind down the season with a performance of Dvorak's opera "Rusalka". We're taking it to the Salzburg Festival in August for 10 days, then on to the Lucerne Festival for a few days and then on to Milan and Turin. I look forward to this long tour but I don't look forward to being away from my family for so long.
My teaching at Oberlin College is done for the year so I'm finally getting a chance to unwind and get caught up on things.
Today is barbecue day and honor our soldiers and vets day. I hope you have a good holiday!
Check our sites: http://www.tomgron.com/ http://www.scotthaigh.com/ www.realtyone.com/scott.haigh
www.realtyone.com/tom.gron
Monday, April 14, 2008
Water wealth and Cleveland's economy
With the economy in recession it's time a take time to reassess what's going on and where
Cleveland needs to go in the future. One of our greatest assets, Lake Erie, hasn't had much press lately but here is an article that provides food for though and possibly $$$ for our collective pocketbooks. I hope you enjoy it!
http://blog.cleveland.com/metro/2008/04/water_may_freshen_northeast_oh.html
Cleveland needs to go in the future. One of our greatest assets, Lake Erie, hasn't had much press lately but here is an article that provides food for though and possibly $$$ for our collective pocketbooks. I hope you enjoy it!
http://blog.cleveland.com/metro/2008/04/water_may_freshen_northeast_oh.html
Thursday, March 27, 2008
Greetings from Miami
Well I'm back in Miami with the Cleveland Orchestra for a one week concert tour and it's very nice to get out of Cleveland's weather for a few days! I'm happy to say that one of my listings went under contract just before coming down here and I just put a beautifully staged University Heights home on the market a week before leaving, so things are slowly improving. I even managed to get my taxes done before the tour!
We're playing this week with Costa Rican conductor Giancarlo Guerrero, who is a very affable and happy person so it's a pleasure to make music with him. He substituted for Lorin Maazel last year, conducting Maazel's Ring Without Words (an arrangement of Wagner's greatest hits from the Ring operas) and did a fine job. For this tour we are offering Fandangos, by Puerto Rican composer Roberto Sierra (which audiences are loving), the Tchaikovsky violin concerto with Midori as soloist, and Moussourgsky's Pictures at an Exhibition.
We started the tour in St. Petersburg (Florida, not Russia!!) and the rest of the concerts are in Miami at the new Knight concert hall. On Saturday the orchestra will have a joint rehearsal with members of the New World Symphony on Strauss' Ein Heldenleben. The New World Symphony is a professional training orchestra that is top-notch, so the rehearsal should be good and that means I have to practice my part or the students may give me a hard time! It should be a lot of fun. Before coming home this weekend we will make a stop in Columbus, Georgia where we will perform in the River Center for the Performing Arts.
I'm planning to see some properties in South Beach later today, so I'll keep you posted on what I find out. I hope the weather has improved in Cleveland and I promise to file an end-of-tour report.
We're playing this week with Costa Rican conductor Giancarlo Guerrero, who is a very affable and happy person so it's a pleasure to make music with him. He substituted for Lorin Maazel last year, conducting Maazel's Ring Without Words (an arrangement of Wagner's greatest hits from the Ring operas) and did a fine job. For this tour we are offering Fandangos, by Puerto Rican composer Roberto Sierra (which audiences are loving), the Tchaikovsky violin concerto with Midori as soloist, and Moussourgsky's Pictures at an Exhibition.
We started the tour in St. Petersburg (Florida, not Russia!!) and the rest of the concerts are in Miami at the new Knight concert hall. On Saturday the orchestra will have a joint rehearsal with members of the New World Symphony on Strauss' Ein Heldenleben. The New World Symphony is a professional training orchestra that is top-notch, so the rehearsal should be good and that means I have to practice my part or the students may give me a hard time! It should be a lot of fun. Before coming home this weekend we will make a stop in Columbus, Georgia where we will perform in the River Center for the Performing Arts.
I'm planning to see some properties in South Beach later today, so I'll keep you posted on what I find out. I hope the weather has improved in Cleveland and I promise to file an end-of-tour report.
Saturday, March 8, 2008
Cleveland Dreary Winter goes on and on....
Today's huge snow storm only added insult to injury to our dreary winter. Between the storm, the bad economy, and geopolitical events, I wonder if I should have stayed in bed today. After all, I couldn't really go anywhere today and the Cleveland Orchestra cancelled it's concert tonight (the first time I can remember that happening after playing in the orchestra for almost 30 years!), and on top of everything else, I had water damage to the walls in my house due to ice dams! In case you are wondering how they form and what you can do to prevent them, click here: http://www.extension.umn.edu/distribution/housingandclothing/DK1068.html
Other than that I'm excited about a property in University Heights that I'll be putting on the market sometime towards the end of next week. I am fixing up and staging the home and it's going to turn out beautifully. It's a typical 3 bedroom, one and a half bath home with new counter tops in the kitchen and a huge family room that can serve as an office, media room, music room, family room, or anything else the buyer wants. It connected to the kitchen so the layout is excellent. Be on the lookout for this one.
Despite the weather, the market seems to be slowly picking up and the raise in FHA limits should be a major boost to the real estate market. Since my last post I spent two weeks in Miami with the Cleveland Orchestra and had a great time. It was so nice to enjoy some warmer weather and sunshine and I even had a chance to go snorkling in Key Largo with some rather mean looking barracudas! The orchestra returns to Miami for a week of concerts at the end of this month. Hopefully by then Cleveland's winter will have abated.
If you are thinking about buying a home, this is probably one of the best times in recent history to buy. Rates are low, there are plenty of nice homes to buy, and seller are eager to sell. Make sure to get pre-approved for a loan first, since many realtors are reluctant to drive people around to look at homes who haven't showed they are really serious about buying by getting a pre-approval. With the cost of gasoline it's hard for agents to take people around who are just "sight-seeing". Pre-approval also puts the buyer in a much stronger negotiating position, since the seller knows that the sale won't be contingent on financing.
If you are thinking of selling, it's a great time to start fixing up your home for sale. March, April, and May are the best months to put your home up for sale.
I hope you weathered the storm well.....
Other than that I'm excited about a property in University Heights that I'll be putting on the market sometime towards the end of next week. I am fixing up and staging the home and it's going to turn out beautifully. It's a typical 3 bedroom, one and a half bath home with new counter tops in the kitchen and a huge family room that can serve as an office, media room, music room, family room, or anything else the buyer wants. It connected to the kitchen so the layout is excellent. Be on the lookout for this one.
Despite the weather, the market seems to be slowly picking up and the raise in FHA limits should be a major boost to the real estate market. Since my last post I spent two weeks in Miami with the Cleveland Orchestra and had a great time. It was so nice to enjoy some warmer weather and sunshine and I even had a chance to go snorkling in Key Largo with some rather mean looking barracudas! The orchestra returns to Miami for a week of concerts at the end of this month. Hopefully by then Cleveland's winter will have abated.
If you are thinking about buying a home, this is probably one of the best times in recent history to buy. Rates are low, there are plenty of nice homes to buy, and seller are eager to sell. Make sure to get pre-approved for a loan first, since many realtors are reluctant to drive people around to look at homes who haven't showed they are really serious about buying by getting a pre-approval. With the cost of gasoline it's hard for agents to take people around who are just "sight-seeing". Pre-approval also puts the buyer in a much stronger negotiating position, since the seller knows that the sale won't be contingent on financing.
If you are thinking of selling, it's a great time to start fixing up your home for sale. March, April, and May are the best months to put your home up for sale.
I hope you weathered the storm well.....
Friday, January 4, 2008
Predatory Lending
With all the news about the sub-prime mortgage problems and predatory lending I thought this might be of interest. Go to: http://www.realtor.org/rmomag.NSF/pages/Excerpt200801?OpenDocument
It details some of the things to look out for in predatory lending. Don't fall for it!
It details some of the things to look out for in predatory lending. Don't fall for it!
Cleveland Library
If you have occasion to be in Cleveland Heights I highly recommend a visit to Cleveland Heights new library on Lee Road. It's a wonderful community resource with state-of-the-art check-out facilities linked to your email, great DVD's and CD's, teen rooms, conference rooms, special community exhibits, and more. Go to http://www.heightslibrary.org/index.php for more information!
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