Greetings from Vienna! In one week the orchestra has visited Toronto, Paris, Luxembourg, and now we are in the beautiful city of Vienna. Last night we performed the first of three concerts here in the famous Musikvereinsaal, the home of the Vienna Philharmonic. With it's gold leaf on the statues lining the hall and it's fabulous acoustics, the orchestra sounded beautiful and the audience loved it. We must have had about 6 curtain calls and we played an encore- the overture to the 3rd act of Wagner's "Lohengrin". This morning I visited the Leopold Museum and saw a very interest exhibit of Edvard Munch (famous for "The Scream") paintings as well as paintings by Viennese secessionists such at Gustav Klimt, Egon Schiele, etc. We were lucky to have excellent weather in Paris and I had the opportunity to take a boat ride along the Seine River, taking in all the important sites, the Louvre Museum, Notre Dame cathedral, the Eiffel Tower, etc. Don't miss visiting this gorgeous city!
Luxembourg, though quieter, is also a beautiful city with a lot of wealth. (It's a banking center) It has beautiful shops and pedestrian malls and I toured the walls that once protected this city a thousand years ago. There is a an excellent new concert hall there and I heard rumors that we will be returning on a regular basis. We have two more concerts in Vienna to play and then one in Linz, and then home.. I will update this blog in a few days..
Friday, October 30, 2009
Sunday, October 18, 2009
Off to Europe!!
In a few days I will leave real estate behind for a few weeks as I travel to Europe with the Cleveland Orchestra. We start in Toronto and then go on to Paris, Luxembourg, Amsterdam, Linz, and Vienna. I am looking forward to the trip and I rest easy knowing my listings are covered by one of my fellow agents. Last week one of short sale listings transferred, so that was another sale under my belt. I will blog more from Europe. Happy Halloween!
Tuesday, October 6, 2009
Cleveland Hts. Residential Property Report
Here's a summary of what happened to residential real estate in Cleveland Heights for the 60 days prior to September 25th, 2009:
Sales
162 homes were listed for sale for an average list price of $166,072.
79 homes were sold and transfered with an average sale price of $125,161.
The average list price for homes that sold was $133,134.
Average market time was 98 days.
Homes that commanded top price were in impeccable condition, had interesting architecural features like crown mouldings and fireplaces. They also had remodeled kitchens and baths.
Supply
There is a lack of supply of home priced $160,000-$200,000 and $350,000 and up.
There is a surplus of home priced $70,000-$160,000
List Prices
The highest percentage of average list prices were in the $160,000-$180,000 range.
What to expect
In my opinion the historically low mortgage rates will help support sales but will be countered by the seasonal slowdown and the lingering recession. The inventory may be reduced as sellers take their home off the market, supporting higher prices, but again we have to see the affect of the unemployment rate as the recession plays out.
New Construction
Rysar Properties is offering condominium lofts and arts & crafts townhouse at the Bluestone on Mayfield Rd. east of Taylor. The condominium lofts range from $239,000-$398,000 and the townhouses range from $398,000-$424,000.
Across the street and a little further east the Coral Company is offering townhouses at the Courtyards of Severance. Each model has the name of a famous composer. The "Beethoven" is priced at $199,000 (1532 sq.ft.), the "Mozart" at $289,000 (2067 sq. ft.), and the "Chopin" at $299,000 (2159 sq. ft.)
Summary
If a buyer can obtain a quality mortgage, they should BUY NOW! Even if a buyer misses the deadline for the $8,000 tax credit the interest rate environment is incredibly favorable for a buyer. According to our Howard Hanna mortgage officer, interest rates may go up to 6-7% almost overnight once the federal government stop buying mortgages, which they probably will do at some point.
I hope this has been helpful... Give me a call if you have any questions.
Sales
162 homes were listed for sale for an average list price of $166,072.
79 homes were sold and transfered with an average sale price of $125,161.
The average list price for homes that sold was $133,134.
Average market time was 98 days.
Homes that commanded top price were in impeccable condition, had interesting architecural features like crown mouldings and fireplaces. They also had remodeled kitchens and baths.
Supply
There is a lack of supply of home priced $160,000-$200,000 and $350,000 and up.
There is a surplus of home priced $70,000-$160,000
List Prices
The highest percentage of average list prices were in the $160,000-$180,000 range.
What to expect
In my opinion the historically low mortgage rates will help support sales but will be countered by the seasonal slowdown and the lingering recession. The inventory may be reduced as sellers take their home off the market, supporting higher prices, but again we have to see the affect of the unemployment rate as the recession plays out.
New Construction
Rysar Properties is offering condominium lofts and arts & crafts townhouse at the Bluestone on Mayfield Rd. east of Taylor. The condominium lofts range from $239,000-$398,000 and the townhouses range from $398,000-$424,000.
Across the street and a little further east the Coral Company is offering townhouses at the Courtyards of Severance. Each model has the name of a famous composer. The "Beethoven" is priced at $199,000 (1532 sq.ft.), the "Mozart" at $289,000 (2067 sq. ft.), and the "Chopin" at $299,000 (2159 sq. ft.)
Summary
If a buyer can obtain a quality mortgage, they should BUY NOW! Even if a buyer misses the deadline for the $8,000 tax credit the interest rate environment is incredibly favorable for a buyer. According to our Howard Hanna mortgage officer, interest rates may go up to 6-7% almost overnight once the federal government stop buying mortgages, which they probably will do at some point.
I hope this has been helpful... Give me a call if you have any questions.
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