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Solon Real Estate - Market Report First Quarter 2014

by The Schuman Team

 

 

Here is our first quarter market report for Solon OH.

First, we will provide market statistics for the past month of March. Then we will offer a look at the first quarter statistics and compare them to how we fared at the same time last year. Finally, we will provide commentary.

Also contained within this report will be information pertaining to the Solon luxury home market  ( those priced over $500,000 ).

 

SOLD HOME STATISTICS SOLON OHIO

 

Date                                         # of homes sold         Ave. Sales Price             

March 2014                                14                            $267,304

March 2013                                17                            $310,746

 

First Quarter 2014                        43                           $283,251

First Quarter 2013                        40                           $305,230

 

 

SOLON LUXURY MARKET

First Quarter  2014                       4                             $736,861

First Quarter  2013                       8                             $657,938

 

 

*source NEOHREX ( Regional MLS )

 

THE STATE OF THE MARKET

The numbers above show an increase in terms of home sales from last year, which is always good news. However, the numbers don't tell the whole story.

We predicted in our Year In Review 2013, a decrease in total number of sales this year. Based on the numbers above, are we wrong?

Hopefully, we are way off base and sales will increase in 2014. That will be good for everyone, us included.  The problem remains that without inventory, we cannot possibly sustain the numbers we saw in 2013.  Let's look at the numbers closely:

Last year we saw 303 sales of single-family homes. So far this year, we have had 43 sales and an additional 61 homes are currently under contract.

Assuming these all close, that would put us at 104 sales,  leaving us needing to sell 199 more homes by the end of the year to match last year's numbers.  Is this possible?

INVENTORY

This is where inventory is so crucial. We currently have 77 active listings. If, best case scenario, each and every one of these homes sells, we would still need 122 homes to come on the market and sell before the end of the year.

In order to sell in this calendar year,  we would basically need these 122 homes all to come onto the market over the next 6 months. That's a lot of homes in a short period of time.

So, as you can see, we have a tall task in front of us to meet last years numbers.

THE GOOD NEWS

Now that I have presented the facts, here is the good news. There are a ton of buyers out there.

How do I know this? Agents communicate to each other and get a good feel for what is going on in the market. It is not unusual to get 15-20+ showings on a listing. Some price points are even more competitive.

Since only one of those showings will lead to a sale, the rest of the buyers are out there, waiting. That's a lot of buyers.

FINAL THOUGHTS

In general, we have a very strong real estate market here in Solon. Nice homes, and I emphasize NICE ( updated, properly Staged, well-maintained...) will sell quickly.

However, buyers are still fairly picky. They will pay a very fair price for a nice home. They will not overpay for an average home. They may be motivated but they aren't foolish.

So, if you are looking to buy or sell a home in Solon, here's our parting advice:

For sellers: I would highly recommend making sure your home is positioned to sell. If not, you will simply be helping your competition. There is no excuse not to sell in this market.

For buyers: If you find a home you like, odds are that other buyers will feel the same way, so make an offer immediately.

If you have been sitting on the sidelines for what seems like forever, waiting for that one perfect home to come up, please read this: the perfect house doesn't exist.  You either aren't motivated to buy or have unrealistic expectations.  You may want to re-think your game plan moving forward.

Moving With Pets

by The Schuman Team

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Post written by Dr. Michael Boyarin, guest blogger.

By itself, moving can be both exciting and stressful.  Moving with pets, however, presents unique and specific challenges that can be met with a little knowledge and advance planning. 

Most of what will ensure a smooth experience for both you and your pets can be done well in advance of the actual move. 

Following are some of the most important areas for consideration:

BEFORE THE MOVE:

  1. Microchip (& ID tags):  Microchipping your pet is one of the most important things you can do to ensure your pets safe return should he ever become lost. 

         If you have not already done this, now is an opportune time to do so.If already micro chipped,         update your contact information, including your new address.

*If you are moving internationally, make sure your veterinarian implants a chip that meets The International Standards Organization (ISO) global standards.

  1. Health certificate:  For interstate travel, the USDA requires a valid health certificate, issued by a licensed veterinarian within 30 days of travel.   A physical exam & assuring appropriate rabies immunization will likely be required.

For international travel, the rules vary by the country of your destination.This can be a tedious & confusing process that often requires months of planning.Contacting the consulate of the country in question can be very helpful.

  1. Pet records:  In most instances, medical records can be faxed or emailed to your new veterinarian.  However, if your pet has complex or specific medical needs that might require immediate treatment, consider obtaining copies prior to travel.
  2.  Pet medications:  Obtain an adequate supply of any products your pet uses regularly.  This will allow you to establish your new veterinary relationship in a more thoughtful & effective manner.

 

*While they are not routinely necessary, if you anticipate needing sedatives or motion sickness medications, don’t wait to discuss this with your veterinarian.There is no “one size fits all” when using these medications.Allow time for trials and/or dosage modifications.*

  1. Contact the Airline:  If flying, there are often specific requirements regarding cold/heat tolerances as well as cage specifications.  To have your pet to travel in the passenger compartment with you, early arrangements are often necessary.
  2. Car restraint:  If traveling by car, determine if a crate is appropriate.  In most cases having your pet constrained will greatly increase his safety and reduce the risk of escape.  If not, consider using a safety device designed to prevent injury in case of accident.
  1. Plan your stops:  If traveling by car & an overnight stop or stops will be necessary, find “pet friendly” hotels/motels along the way & make reservations.

DURING THE MOVE:

 Moving day:

     1. Especially if strangers are packing your belongings, place your pet in a safe, quiet & secure place so that he cannot escape.

  1. Water:  Pack plenty of fresh water from home or bottled water.  Finicky pets or those at risk of dehydration may be less apt to drink water with an unusual taste or smell.

AFTER THE MOVE:

  1. Check the surroundings:  Insure both the inside and outside environments are safe and free from hazards.
  2. Acclimate your pet:  The transition may lead to problems such as loss of potty training/litter box use, territorial behaviors & stress/anxiety behaviors.  Of particular concern is how to reintroduce free roaming cats to the outside.  There are many resources with acclimation tips:
  1. Choosing a new vet:  Ask friends, neighbors and relatives for a recommendation.  Visit the facility & meet the doctor(s).

ADDITIONAL RESOURCES:

AVMA:  https://www.avma.org/public/PetCare/Pages/Traveling-with-Your-Pet-FAQs.aspx

USDA:  http://www.aphis.usda.gov/animal_welfare/pet_travel/pet_travel.shtml

Delta Air Lines:  http://www.delta.com/content/www/en_US/traveling-with-us/special-travel-needs/pets/pet-requirements-restrictions.html

BringFido.com:  http://www.bringfido.com/travel/us_regulations/

For international moves, or other moves that are significantly complex, there are companies that can greatly facilitate your move.  Some examples are:

Air Animal Pet Movers:  http://www.airanimal.com/

Animal Land, Inc.:  http://www.petmovers.com/

AirVets Pet Relocation:  http://www.airvets.com/

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Contact Information

The Schuman Team
HOWARD HANNA REAL ESTATE SERVICES
3550 Lander Road
Pepper Pike OH 44122
Dan: 216-346-3235
Amy: 216-403-9189
Fax: 216-456-2333