Sell My Lakewood Home Now?

Sell My Lakewood Home Now?

“Why should I sell my house now?” That is a question we Realtors have been facing the past few years with frequency, and until recently, other than having to relocate or if the family is bursting the seams of our current home, there have been few honest and reliable answers. This year that situation is starting to change. Now you can command a decent market price, sell quickly, and under the correct circumstances, expect multiple offers. Market conditions in Lakewood have changed considerably in the past 12 months and now might be the time to consider selling your home.

As of this writing there are 94 active single-family homes listed in Lakewood. This is a considerable drop from the usual three hundred or so we have normally had. The cost of a mortgage is still in the crazy low range so buyers can buy more house than previously, and more importantly, in Lakewood at least, buyers are buying. Since January 1st 43 homes have sold, giving us an inventory of about four months. This means if no more homes come on the market it will take just four months to sell all the homes in Lakewood that are currently listed.  This is a tremendous drop from the one year-plus of inventory we have experienced in the recent past.

Of course, not all of the homes sold are the top of the line cream puff I am sure you live in.  Of the 43 total sales, 11 were priced at or under $50,000, while only 2 were over $300,000.  There was a tremendous dump of bank-owned properties at the beginning of the year but they sold to people who are investing in these properties. They see this as a worthwhile investment in the community and the housing market. If a professional investor sees opportunity in the current market what are you seeing?

What is driving this market? If one were to look at the numbers, and as a Realtor that is what I do, you see Lakewood as THE PREFERRED DESTINATION for those between the ages of 25 to 35. By almost 2 to 1 Lakewood is ahead of the next highest neighborhood, which is Downtown. There are many factors, and that will be another article, but people are choosing to move here in large numbers. By far the largest inventory of homes in Lakewood is starter homes in the $100,000 to $200,000 range. These are the homes today’s buyers are looking for.

What to do if you are interested in being in front of this growth curve? There will be a home seller’s seminar Thursday March 21 from  7:00 to 8:00 at Jammy Buggers Restaurant and Pub,15625 Detroit Rd, Lakewood. Eric Lowrey, Kathy Lewis, and Chris Bergin of Prudential Lucien will host and have information that can show you what your home can be worth and what to do to sell your home in a timely and profitable manner. Please email Info@NorthEastOhioRealtor.com to register or for more information.

Eric Lowrey

I am a Realtor working with Prudential Lucien. My wife Cindy and I have lived in Lakewood since 2004. A former high end Pastry Chef and College Teacher, I have lived many lives. Both Cindy and I are involved with Lakewood Alive, Live Well Lakewood and The Lakewood Historical Society. We live on Waterbury road with two cats and you can usually find us sitting on our front porch come evening.

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Volume 9, Issue 5, Posted 9:45 PM, 03.05.2013