Real Estate

Dec. 27, 2007 – First Federal of Lakewood and the City of Lakewood officially unveiled the newly completed, converted home at 2227 Bunts Rd., at a ribbon-cutting ceremony on Tuesday, Dec. 11...

One of the largest properties on Lakewood’s Gold Coast is getting a major makeover. The Carlyle is currently undergoing a $5 million restoration and redevelopment program to revitalize the building and grounds. Funded entirely by suite owners through a special assessment, the program includes the full restoration and waterproofing of the building’s parking deck, replacement of the electrical distribution system, restoration of the outdoor pool and re-landscaping of the outdoor pool area, and a complete overhaul/replacement of the heating system, which will lower utility costs.

A few Sundays ago on "60 Minutes" a sensationalized program presented a one-sided report that stated the Internet is taking over real estate and implied that Realtors are obsolete. The Internet is an undeniable force in most fields. But integrating the convenience of technology with the personal touch of a skilled Realtor is the best of both worlds, especially in northeast Ohio’s buyer’s market. The significant role of a Buyer’s Agent and the benefits they provide were overlooked. Buying real estate is like learning anything new; novices benefit from people with experience. Contemplating possibilities even helps seasoned Buyers understand what services and options exist.

Many people, including LF of Lakewood, wonder, especially in today’s Buyer’s market, …"Why buy a house instead of renting?"

At the turn of the century at West High School (where McKinley Elementary now stands), Edward Gilbert courted the lovely Viola Corrigan. They married, built a home at 1427 Arthur Avenue, and both became active in civic life. Edward partnered with his friend Herbert Mathews in a real estate venture during the time of Lakewood’s most spectacular growth, whereby he helped name many of Lakewood’s streets, including "Edanola" Avenue: Edward + Viola.

People frequently ask what home improvement has the largest return.

There have been a number of questions about Title services. Our guest expert in this issue is Val Tocci from Premier Title Agency of Lakewood who will answer them for our readers.

The front porch is the means by which your home says ‘Hello…and Welcome!’. Without question, a porch sets the stage and feeling of any home. Imagine comfy wicker with colorful cushions, rocking chairs, Boston ferns, and a handsome wooden swing with a familiar squeak. First impressions are generally lasting ones, of people as well as homes. If your home is on the market today, make sure that first impression is one that beckons the buyers to sit a spell and put their feet up, grab a favorite book or tune in to the Indians game after the lawn chores are complete. A home and its porch can conjure up memories of neighbors taking their evening stroll and stopping by for a friendly visit or even remembering that a first kiss was shared on that swing while parents watched the news inside.

Questions from our Readers

The growth of Cleveland during the 19th and early 20th century was largely due to annexation of neighboring land. Ohio City was absorbed in 1854; Brooklyn joined Cleveland in 1890, West Cleveland in 1894, and West Park in 1922. Lakewood voters rejected annexation efforts to join the nation’s sixth largest city in 1910 and 1922, and also opposed a 1918 county consolidation measure that would have brought a number of communities under one government.

While recently perusing Lakewood Historical Society’s web site at www.lakewoodhistory.org, I noticed a link titled “Volksmarch.” It was described as an organized hike or walk that covers a distance of 5, 10 or 20 kilometers.

Q: What are the best steps to buying a home?

Lakewood’s early developers and government officials did not, of course, have the principles of Smart Growth (focusing on long-term sustainability and avoiding sprawl) or New Urbanism (focusing on diversity and walkability) in mind when decisions were made regarding our city’s physical landscape, as these concepts did not exist during Lakewood's early days.

Lakewoodites love the character of older homes—charm, spaciousness, and the quality workmanship of these beautiful properties. Along with these wonderful traits, early 1900-construction issues can be concerns in home inspections.Most home buyers today choose to make a purchase contingent upon a general home inspection. The inspector evaluates the property’s condition inside and out.

Observer Online question from DM of Lakewood: "Does a home that has good wiring, but is still on a fusebox diminish the sale value?

Although we traditionally think of spring as the season for home maintenance, there are steps you should take in the fall to make sure that your home is ready for the winter months. By performing these maintenance tasks each autumn, you can help protect your home's value and prevent major repairs.

From the Plain Dealer to the New York Times, the headlines tell us the market is down, inventory is up and foreclosures are everywhere. From San Diego to Buffalo to Miami Beach, all markets are experiencing an adjustment. National headlines, state calculations, local speculation…just what does this mean to the Lakewood resident? How has this adjustment affected this local market? THAT seems to be the most-asked question lately.

Now is the time to buy a house in Lakewood! As of March 24, 2007, the local Multiple Listing Service advertises 274 single-family homes, 159 multi-family properties, and 116 condominiums listed with real estate brokers. Choices are excellent!

In the preceding issue of the Lakewood Observer, Part 1 of this early Lakewood history recalled the early 1800’s and the start of a small but beautiful township. By the 1850’s, mansions and stately homes began to replace farmhouses, and buildings of all kinds--modest homes, schools and churches--increased throughout the area...

Your Questions answered…“What is a dormer?”

The language used in 1920’s real estate marketing was more colorful than it is today.

In 1894, lacking a streetcar line to bring their workers from Cleveland to the factory in a timely and reliable way, the National Carbon Company at the corner of W. 117th and Madison (now GrafTech International Ltd.) created the Pleasant Hill Land Company subsidiary which built homes for workers on 424 small lots in the southeast corner of ‘Rockport’.

Is Your Home a Sears Modern Home?

Some of our older homes in Lakewood have materials found in them that at one time were commonly used and were considered safe, but are now thought to be potentially harmful. For example, homeowners and potential buyers often wonder:

Q: If the ducts in the basement are wrapped with asbestos, should I have the asbestos removed?

REALTY REALITY - “Questions from the Readers”

A commonly asked question is "Why have an inspection?"

Several members of the Lakewood Historical Society have viewed the inside of the Hilliard Square Theater in recent weeks. Built in 1927, it was a magnificent structure in the days of silent films, and was still attracting crowds in the 1970’s with films such as "The Rocky Horror Picture Show". In addition to the arcade that connects Hilliard and Madison (between the theater and Italian Creations), it also had a 98-key pipe organ, and the catwalks and dressing rooms that allowed it to offer live performances to a seated audience of about 1200 people...

The architectural team of Benjamin S. Hubbell (1867-1953) and W. Dominick Benes (1857-1935) became one of Cleveland’s leading architectural firms of the early 1900s.

Block parties have been held in Lakewood for many years. Some parties are larger, with many activities scheduled throughout the day, and some are smaller and unstructured, with perhaps only a potluck dinner. Regardless, the purpose of a block party is always the same: getting to know the neighbors and keeping the street safe and happy. And from a Real Estate perspective, a block party can be an advantage when marketing a home.

As one walks or drives through Lakewood on weekends in August and September, he/she will likely see signs of Lakewood neighborliness. One of these signs prohibits non-resident access on a street due to a block party. Block parties are evidence of the friendly relationships on Lakewood’s streets that develop into a neighborhood gathering for food, fun, games, and friendly chatter.

Your questions answered…

Are you selling your home now or thinking ahead to spring? In this difficult selling period, some homes have languished on the market for months, while others have sold quickly at top prices. The most effective and least expensive "remodeling" is a $25 gallon of paint and a good brush and roller. A good Realtor or Home Stager will be helpful in choosing colors that will appeal to the broad, varied and valuable buyers that come knocking at your freshly painted front door.

 

It’s not surprising that two of the most popular rooms for home makeovers are the kitchen and bathroom. When potential homebuyers are searching for homes, they generally are more attracted to homes with updated kitchens and baths. These same rooms rank high in return on remodeling investment at resale, according toRemodeling Magazine’s Cost-vs-Value 2008-09 Study.

However, both can be pricey ventures. According to the same study, the national average for minor kitchen remodel was $21,246. A sample remodel at this cost includes replacing cabinet fronts, flooring, laminate countertops and oven and cook-top; installing mid-priced sink and faucet, adding wall cover and repainting trim.

 

I am frequently asked questions about the many foreclosures in Northeast Ohio. In this issue I’ve asked Khash Saghafi, president of Cardinal Banc & Mortgage Corporation, and regular instructor of free seminars on Real Estate loan topics to answer two common questions...

As suburbs emerged to the west of Lakewood in the 1950s-1960s, traffic congestion increased on Lakewood’s two bridges over Rocky River.

Lakewood is a visually interesting and attractive place to live because of the architectural diversity of its residences. A short walk around town will likely take the careful observer past examples of the Arts & Crafts (Craftsman) Bungalow, Queen Anne, Spanish Colonial Revival, French Provincial, Greek Revival, Victorian, Tudor Revival, and Dutch Colonial styles. One might also see the occasional Cape Cod and Ranch home, and will certainly notice the ubiquitous American Foursquare. A less common yet highly recognizable architectural style found in Lakewood is the Italian Renaissance style...

2007 brought with it a year filled with articles and updates about the prevalence of foreclosures in the Greater Cleveland area. In this very negative atmosphere, it’s worth taking a look at the positive side of this situation...

On May 31, 2011, Jody Conner opened an Assist-2-Sell® franchise office in the Cleveland area.  The new office provides full-service real estate to homeowners while saving them thousands of dollars in commission.  The office can be reached by calling (440) 773-4880 or by e-mailing jconner@assist2sell.com.

Recently I’ve had a number of clients, friends, and acquaintances ask for clarification about the foreclosure market. Realtor Randy Newell from Prudential Lucien Realty adds his experienced insight to this article as I’ve tried to summarize a complex subject...

In Robert Semenow’s book titled Questions and Answers on Real Estate (2nd edition, 1955), many interesting references are made with regard to women and their abilities to enter into contracts, execute leases, and enter into agreements of sale...

Andrews, French, and Virginia Avenues are connected - not only by Andrews Lane - but by the relationships between the French and Andrews families. Collins French, the son of one of Lakewood’s earliest settlers, married Rosetta Saxton in 1832...

Most people think of Urban Sprawl, the spreading of a city to outlying areas, as a post-World War II phenomenon. A Clevelander’s desire to live “in the country” (in the 1950’s, that would have been Parma) was made easy by the availability and affordability of the automobile. Sprawl has continued ever since, facilitated by highway systems that provide fast and easy commutes to the city...

Lakewood is a beautiful 5.6 square miles named for its natural wooded setting along the Lake Erie shore. The first permanent settler, James Nicholson, came from Connecticut on foot when he was only 20 years old. By 1818 he acquired over 300 acres from Madison Avenue to the Lake. Our first real estate developer! Lakewood was originally known as Township 7, Range 14, of Rockport Township (created in 1819).

As a realtor, I just had the good fortune to receive the news that a first time buyer had a home inspection with no problems found! The homeowner was incredibly diligent about regular maintenance and when the time came to sell, she received an offer in 6 weeks, with regular comments from showing appointments about how clean and well maintained her home was. This is an ideal that not too many homeowners achieve, but planning ahead certainly benefited this seller...

"How many Realtors are there in the US?"

Benjamin Coutant came to Rockport from Pennsylvania in 1819. A marble finisher and pattern maker by trade, he was locally recognized for his mechanical skills. Mr. Coutant created a cover for his well (unheard of!) and built an original mechanism for raising, lowering, and filling the buckets...

"Are Retirees and Baby Boomers exempt from capital gain taxes?"

If you are prospective home buyer searching for homes on the internet, good for you! Logging onto www.realtor.com or www.yahoo.com/realestate will take you to the area of your choice and let you select any price range you want. You can even pick how many bedrooms & bathrooms you would like. While it can be fun to look at homes online it makes sense to find your own price category first. With that in mind, back away from the computer and go speak with a lender...

Like cities across the country, Lakewood was not spared the impact of the Great Depression. Workers were laid off, wages and hours were cut, and homeowners faced the possibility of foreclosure. City government reported a 24% decline in tax collections in 1930. Real estate values plummeted, city workers accepted pay cuts, and churches took up collections to feed Lakewood’s increasingly numerous hungry...

Life changes, families change, and housing requirements change -- and so, folks move on. But what if you have a house to sell while trying to purchase your next home? Consider the following options, as you think through a plan...

Hi! This is Fido here and my pal Tabby! Wow, since the “folks” decided to sell our home, things sure have been crazy around here. They’re running around like chickens with their heads cut off…and lots of LOUD discussions. There’s furniture moving (my favorite snoozing chair is in the basement) and big boxes stacked high (full of stuff I used to play with.) Our food and water dishes are in a new places (that we can hardly reach….when we can FIND them!) Sheesh, I even saw her stuff my bed into a kitchen cupboard yesterday. (Fortunately, she pulled it back out when we got home...)

I was recently given a book titled Questions and Answers on Real Estate, by Robert Semenow. The highly-credentialed author offered the second edition of his book in 1955 so that real estate brokers "might avoid the pitfalls of incompetency and unethical practices" and to "provide a source of study material for the applicant qualifying for admission to the real estate fraternity."

Henry Beach arrived in East Rockport in 1864. Fruit farming was well underway in the township, so Henry began to grow fruit trees on his 28 acres near Beach and Detroit Avenues. Toward the end of the 19th century, residents of Cleveland began looking west for places to build new homes...

“What is crown molding?”

Do you own a double or multi-family property in Lakewood? Are you considering buying investment property? Are you an owner-occupier of a double or multi-family property? Are you considering turning your single-family home into a rental? Do you work as a real estate professional in Lakewood? If so, you may want to attend a free program on rental property laws and issues.

"What's an energy audit?"

With so much attention focused on “being green”, energy audits are becoming more common. They're a good way to know how to reduce our carbon footprint and simultaneously save money in monthly utility bills. The audits take 2-3 hours and are conducted by independent, professional, and certified third-party companies for the purposes of identifying and remedying major energy leaks in houses. Contact your utility company or realtor for more details...

Spring IS in the air! Although we haven’t put in the screens yet, the front door stands ajar for a little fresh air that doesn’t feel frigid. I’ll even admit to washing interior windows while the last big snow kept me indoors. I’ve walked the exterior perimeter, picked up twigs, welcomed the leafy green shoots of the season's first crocuses and daffodils and noted the robin’s nestbuilding activities well under way...

"What is a Home Warranty?"

A home warranty is a service contract paid for by either the Buyer or the Seller, usually at closing. The cost in this area is a bargain at approximately $500 or less. In today’s buyer’s market, many Sellers are choosing to offer a home warranty with the purchase of their home to potential buyers...

The process of buying a home may seem like a daunting task, especially if you’ve never done it before. The route to getting into your new home seems much more manageable by looking at the basic stages...

John West owned 700 acres just south of Rockport. His land ultimately became known as “West’s Park” because of his installation of many beautiful plantings, a man-made lake and manicured lawns...

The chill is in the air. Vacations are over and the kids are back in school. Most everyone is back to work. So how is the Real Estate market doing in Lakewood?

At the end of the first 8 months, there were 211 single family homes sold in Lakewood at a median price of $112,200. Comparitively, in the first 8 months of 2010, there were 239 homes sold with a median price of $115,000. Prices have fallen roughly 2.5% and the number of sales down roughly 12%. In 2010, the year ended with 322 homes sold at a median price of $113,750.