Greater Cleveland Real Estate Blog

Ever imagined living in a charming, light, beautiful house on a private, no-outlet street, yet close to all city amenities, Downtown Cleveland and University Circle?

Ever thought of moving to a beautiful home with no need of any repairs, remodeling or updates?

Ever dreamed of walking to a neighborhood park right next to your house, spending hot summer hours at nearby swimming pool, playing tennis at nearby tennis courts?

If answer to any of these questions is Yes, then we have a house for you!

Dream home in South Euclid. Simply irresistable!

Overview Maps Photos Features Description Neighborhood

$120,000 Single Family Home For Sale Main Features 3 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 1087 sqft Lot: 0.16 acre(s) Location 1590 Westdale Rd. South Euclid, OH 44121 To get updates on open home dates and other property events, please click the "Like" button below:

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Svetlana Stolyarova Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com Listed by: Local-n-Global Realty

Our recent listings Best Price in The Best Neighborhood of Shaker Heights Great Home in Pepper Pike OH For Under $300K Updated ranch in Brandywine Preserve - better than new! Exciting House in Gates Mills Mayfield Heights Condo for sale Subscribe to our listing feed

See more South Euclid, OH real estate for sale

Home in South Euclid - Beautiful And a Great Deal: Priced Lower Than in 2001.

Cleveland Home buyers, inspired by a Homebuyers tax credit, are looking for both good homes and deals on the market.  If you need to move to a good, solid, affordable home in a short commute distance from major Cleveland hospitals, Universities, downtown Cleveland, STOP looking! Local-n-Global Realty has a very good deal for you.

This three bedroom all brick ranch style home in South Euclid was purchased by current owners in 2001 for $140,000. After all improvements and very good care of this house, it's offered for sale for just $134,900!

Stunning ranch in South Euclid

Overview Maps Photos Features Description Neighborhood

$134,900 Single Family Home For Sale Main Features 3 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 1589 sqft Lot: 0.34 acre(s) Location 662 Trebisky Rd. South Euclid, OH 44143

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Svetlana Stolyarova Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com Listed by: Local-n-Global Realty

Our recent listings Stunning ranch in South Euclid Updated ranch in Brandywine Preserve - better than new! Affordable Cleveland Condo Opportunity to build in Walden Farms Willoughby OH Condo at its best Subscribe to our listing feed

See more South Euclid, OH real estate for sale

1,589 square feet home with full, recently finished beasement is conveniently located, lovingly maintained by a very responsible owners, who are moving to a bigger home , as family is growing. Nice reason to move after years of enjoyment and care!

Please don't hesitate to call 877-770-5551 ext.122 or directly Svetlana Stolyarova 216-548-4663 during business hours, set up a private tour of this property and see how good it is!

Welcome home!

Affordable Cleveland Condo - One bedroom Condo in Mayflower For sale.

I am very glad to offer such a good opportunity to Clevelanders who need a nice, convenient, ready to move in place not too far from University Circle, Downtown Cleveland, Cleveland Clinic, Cleveland State University, Case Western Reserve University, and yet close to great shopping at Beachwood mall or Legacy Village!

Offered for a very affordable price of $25,500, this Cleveland condominium at Mayflower Condos is a very good solution for those who is looking for convenience of cozy and well designed first floor living. It's excellent for those who need to stay within 10-15 minutes driving from Cleveland Clinic or University Hospitals. Many doctors residents like Mayflower condos because of a great location and possibility to keep it as a rental property upon completion of a residency.

Students who attend Cleveland State, Case Western Reserve, John Carroll University or other great Cleveland schools, enjoy living in this condominium complex, too.

Please don't forget that condominiums buyers are eligible for home buyers tax credit, too! It's your chance to claim back 10 % of the purchase price as a tax credit.

Think about this opportunity and don't miss a chance to live in a great convenience of financially easy ownership of this Mayflower condominium!

Affordable Cleveland Condo

Overview Maps Photos Features Description

$25,500 Condominium For Sale Main Features 1 Bedroom 1 Bathroom Interior: 799 sqft Location 13789 Cedar Rd. 104C South Euclid, OH 44118

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Svetlana Stolyarova Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com Listed by: Local-n-Global Realty

Our recent listings Affordable Cleveland Condo Opportunity to build in Walden Farms Willoughby OH Condo at its best Affordable home in Mayfield Heights Beautiful Starter Home in Richmond Heights Subscribe to our listing feed

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This post started as an extended comment on the comments to one of my previous posts about Issue 106 - vote on Point of Sale Inspection in South Euclid. As a REALTOR who supports the position of Cleveland Area Board of REALTORS on Issue 106 (Vote NO!) I received the harsh comments from the anonymous poster. The main point of the comments is that REALTORS care only about easy commission and only the City wants the South Euclid housing to prosper.

I hope that the main concern of the City of South Euclid is to improve the housing stock. However, the offered solutions are so poor, that they may have an adverse impact.

Let's review the statistics and do some math. South Euclid belongs to two different Zip codes and to two different schools systems. Kids residing in 44121 attend South Euclid-Lyndhurst Schools, 44118 - Cleveland Heights Schools. Two areas of South Euclid have two different housing prices. That's why we do separate analysis for 44121 and 44118 Zip codes. 

There are currently 301 active listings in 44121 Zip code of South Euclid and 27 active homes in 44118 Zip code. Average asking price for 44121 is $123,267, and for 44118 - $78,337. There are 13 contingent listings as for today, all in 44121 area. Average asking price for the houses on the contracts is $75,715, which is much lower than average sold price for the houses sold in 2008. It was already incredibly low $83,776 for 44121 Zip code, and $37,575 for 44118 Zip code.

Let's say, the buyer is buying the house in South Euclid today. He more likely brings no more than 5-10 % down payment. FHA allows 3 % down payment today - and this program is very popular! Remember, average asking price for the houses  on the contract is $75,715. Even $1,000 of minimal escrow requirement is more than 1 % of the price! And it's accessible mostly after correction of the violations, which means that people actually need available funds to spend on correction of violations, which brings unnecessary burden on the new home owners! Plus there is a time frame for correction and penalty for non-compliance.

The buyer may think, Isn't it easier to buy in Lyndhurst - the same schools system, nice neighborhood, comparable houses, and NO POS. That's how City may lose new residents.

Homeowners in South Euclid have already lost a lot of equity even BEFORE the mortgage crunch started, especially at Zip code 44118. That was due to partially tax increase, partially to additional school levy at 44118. Mortgage crisis and high foreclosure rate contributed to loss of value, too. Let's review the data from our local MLS.

As you can see, the prices dropped dramatically. There is a real serious problem, especially for decent, honest homeowners who care about their homes, do improvements, maintain them inside and out, and - pay property taxes timely and regularly.  Many of honest homeowners may be caught in situation of necessity to short sale, as their mortgage balance is higher than current property value.

Here is real problem: Who will fix the violations or escrow required funds in the situations of short sales?

Short sale is the worst scenario for implementing POS, as there is actually NO responsible owner. One who is on title, has no ability to make even monthly mortgage payments. Bank approves the short sale but is not responsible for anything in the house! Who will be responsible for correction of POS violations? Right, THE BUYER - the one whose interests are declared as the principle for the City of South Euclid.

Most of the buyers who agree to go through all the obstacles of short sales are the investors. Investors are people who buy with the intention to fix, remodel and rent out or resell the houses. Investors are ones who have a freedom to chose where to move in and where to invest their money and efforts. Again, there is a high risk that investors will ignore South Euclid if they will need to hold extra money for correction of POS.

Many of the houses sold in 2008 were bank owned or REO properties. It's very unusual for the banks to correct anything prior to closing. How can City of South Euclid force the bank which may be located in India, or Germany, or even Dallas, TX to cut the grass or replace the old garage? I don't think they have enough power to do it.

Sounds like POS is not the most exciting idea of how to fix the situation in South Euclid. Vote NO on issue 106!

How we, the REALTORS, help our sellers or buyers in South Euclid is the topic of separate post.

Need to sell or buy the house in Greater Cleveland?

Do not hesitate to call Svetlana Stolyarova, Local-n-Global Realty

216-548-4663

You may call any time 877-770-5551. Local-n-Global Real Estate hotline is available 24/7

South Euclid is one of the most desirable destinations for investors in our East suburbs of Greater Cleveland. Why? Because of many reasons:

1. South Euclid-Lyndhurst Schools system is good.

2. Location is so convenient and accessible to University Circle, Downtown, Clveland Clinic, major highways and parks.

3. Very well developed infrustructure - shopping malls, restaurants, entertainment.

4. Nice affordable housing, desirable for both owner-occupants and for renters. 

5. No Point of Sale (POS) inspections! Only regular exterior check-ups of all houses in the neighborhoods by the building department.

POS already did a bad job in adjacent Cleveland Heights and Shaker Heights, less harmful but still unfair in Mayfield Heights. What is wrong with POS inspections, you wonder? 

First of all, it puts the home sellers and home buyers in a disadvantageous position in comparison with the seasoned residents. Let's say, you need to sell the condo in Mayfield Heights. You need to apply for a POS inspection. If the city inspector finds that you have some code violations, you are forced either to fix them or to ask the buyer to assume them by signing the special paper and putting specific amount of money into escrow account.  

Few problems occur with POS escrow accounts:

1) Many buyers just don't have extra money to put in escrow

2) Even if the sellers agree to put necessary funds in escrow, lenders may disapprove the mortgage because of  existing problems with the property (problems, in fact, may be just minor, not too hard to fix)

3) Many sellers do not have available funds to fix the violations prior to closing.

Opinion of Cleveland Area Board of REALTORS and my opinion is to avoid additional Point of Sale inspections. We want our neighborhoods to be maintained well and our local government to check them out regularly, on street-to-street basis, not on the fact that someone needs to sell or buy.

Dear Residents of South Euclid! Please VOTE NO to ISSUE 106! Don't let your houses lose even more equity by letting pass this dangerous issue!

Need to buy house or condo in South Euclid?

Please call Svetlana Stolyarova 216-548-4663

24/7 Real Estate hotline 877-770-5551

E-mail us: Realty@Local-n-Global.com

I know that many people will agree with me: condominium life style is great and convenient, but it's not good for everyone. The idea of owning a condo in South Euclid, Lyndhurst or other areas of Greater Cleveland looks great at first sight: you pass some serious responsibilities like grass cutting and snow removal (do not forget, we live in Cleveland!) on the association in exchange of some reasonable fee. You share some common space with your friendly neighbors who are responsible homeowners, too. You get a nice, maintenance and care free - like many of us REALTORS like to advertise - condominium style living.

Why then the popularity of condominiums in Greater Cleveland, even the very nice ones like The Lofts of South Euclid, dropped dramatically within last few years? Why do my condo sellers expect the magics from me to attract  the buyers to their nice well cared units?                 

Why then statistics is so bad for condo sales? According to Realist.com, number of condo sales in Cuyahoga County  in 2008 is significantly lower than in the same period of 2007. And you know that 2007 was not the greatest year in real estate sales in Greater Cleveland.

Few specific reasons contributed to the loss of demand for condominiums in Greater Cleveland during last two or three years. One of them was the mark up of maintenance fees in 2006-2007. Sometimes it was due to poor management, sometimes - due to aging and need of major improvements, sometimes - due to meeting of the state requirements of all condos being fully funded. No matter what the reasons were, maintenance fees skyrocketed and, as a result, the prices (and equity of condominium owners!) dropped down. New mortgage rules - especially those about the higher down payment requirements and lower debt-to income ratio added to this sad picture. We lost a big pool of young buyers who preferred to buy the houses instead of condos as it became much easier to finance the house purchase than condo.

Another reason is the rules and regulations of many condo associations, which have and add a lot of limitations like no rent, no pets, no antennas, etc. When associations adopted these rules, they sounded pretty reasonable. But times change and now many of these rules just ruin the possible sales.

Anyway, condo lifestyle still attracts a lot of people. If you are not affected by new financing rules, if you feel comfortable with some reasonable limitations and love to live in a convenient, accessible, friendly and beautiful neighborhood - The Lofts at Mayfield Rd. in South Euclid is the great choice!

Please call Local-n-Global Realty 216-548-4663 and ask about private tour to see a very nice first floor unit, which is offered for sale for just $119,900! Please visit http://www.4685Mayfield.com to find more info about this unit and beautiful neighborhood.

Sincerely,

Svetlana Stolyarova, Local-n-Global Realty

Broker, Marketing specialist

Realty@Local-n-Global.com

216-548-4663     440-247-5388

We had a wonderful warm, bright spring weather the last few days. Real estate market is very alive and active these days. We all expected a nice weekend for our Open House Local-n-Global Gala event Isn't it unfair that weekend's forecast is so sad: rain, snow, temperature close to 32F. It does not stop our enthusiasm though. We've just listed nice affordable house in Aurora, very cute ranch style condominiumin at The Lofts at Mayfield Road in South Euclid. I want to thank those agents who have already shown these properties. Everyone complains that it's a tough market, that many agents suffer, that we can not really serve our sellers because there are no real buyers, and at the same time many say that we can not serve our buyers because sellers overprice their houses and condos.

Some agents never complain! They are too busy  working for buyers and sellers and cooperating with another agents in selling houses. I am really proud to belong to this hard working professional community of REALTORS.

1054 Bryce Ave Aurora, OH 44202

For Sale $138,500

Bedrooms: 3 Bathrooms: 1 Area: Aurora Style: Ranch Square Footage: 1,104 Lot Size: 50x160 Year Built: 1985 Aurora House For Sale. Nice updated maintenance free house in Aurora built in 1985 is ready for new ownerrs. House is conveniently located in an established neighborghood, close to major shopping centers, yet very private and friendly. You will love a low maintenance life style. House is young and very well kept. The roof is 2 1/2 years old, furnace is new. Newer carpet, vinyl floor in the kitchen and laundry will let you enjoy your living without worries. House is freshly painted and ready to move in. The handyman owner will fall in love with newer oversized garage which has a very well organized workshop space. You may park your guests' cars at a newer wide concrete driveway. Right at the end of quiet Bryce Avenue you will find a community playground. There is an easy access to famous Aurora Lakes. Enjoy this spacious, affordable 3 bedrooms ranch style home in desirable Aurora.    Home    Full Details    Photo Tour    Print Brochure    Property Documents    Property Map    Area Schools    Schedule a Showing    Email Property Info    Mortgage Calculator    More listings    About Me    Contact Me    Census Information    Ask Svetlana. Let's blog!    Local-n-Global Weather    Wildwater Kingdom    Aurora    Greater Cleveland Blog Svetlana Stolyarova Broker Local-n-Global Realty Office: 440-247-5388 Mobile: 216-548-HOME(4663) Fax: 440-247-8365 Email: Realty@Local-n-Global.com Website: Local-n-Global.com www.Local-n-Global.com

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Please do not be scared of the tough weather condition this weekend. Please stop by at our Open Houses at 12054 Bryce Ave. in Aurora this Sunday between 2:30 and 4:30 pm.

4685-C Mayfield Rd. South Euclid, OH 44121

For Sale $125,000

Bedrooms: 2 Bathrooms: 2 Area: Mayfield Road Style: Condo, one floor Square Footage: 1,265 Year Built: 1983 South Euclid Condo For Sale. Great location - Mayfield Road 'The Lofts" are conveniently situated in the vicinity of everything; minutes to Legacy Village, short commute to the University Circle, convenient access to Downtown Cleveland. Very nice condo is a find for those who are looking for one floor living in a great neighborhood. Open floor plan, spacious two bedrooms, each with private bathroom, ample closet space makes life better organized and easier to enjoy. Huge living/dining room combination has a French door to the patio which opens to a peaceful back yard. Back yard is so big and nice that it's better than many single family back yards. The seller prepared this nice condo for the new owners: new carpet installed, walls are neutrally painted. Kitchen and laundry have a newer laminated Pergo flooring. Hot water tank was replaced in 2007. Furnace was upgraded in 2007. It's nice and ready for new owners. Please do not hesitate to consider this one as your choice of convenient, maintenance free life in the great neighborhood.    Home    Full Details    Photo Tour    Print Brochure    Property Map    Area Schools    Schedule a Showing    Email Property Info    Mortgage Calculator    About Me    Contact Me    Census Information    Local-n-Global Weather    South Euclid    University Circle    Cleveland Clinic    8 facts about owning cond    Let's Talk Real Estate    Svetlana's blog Svetlana Stolyarova Broker Local-n-Global Realty Office: 440-247-5388 Mobile: 216-548-HOME(4663) Fax: 440-247-8365 Email: Realty@Local-n-Global.com Website: Local-n-Global.com www.Local-n-Global.com

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You are welcome to see out new lisiting - a nice one floor condo at Mayfield Rd. in South Euclid - between 1 and 3 pm on Sunday.

You are welcome to these wonderful Greater Cleveland properties!

Sincerely,

Svetlana Stolyarova, Local-n-Global Realty

Realty@Local-n-Global.com

216-548-4663