A Year To Remember in Cleveland Real Estate

In 2007, it was either a great year or horrible year for real estate depending on which end of the rope you held. With so much press on the real estate and mortgage industry here in Cleveland Ohio, taking a look back can be frustrating for some and a relief for others.

It was a bad 2007 if you were pre-approved for a mortgage and found your dream home only to face the loan requirements increased unexpectedly and see your dream come to an end. It was also a bad year if your house payment increased due to taking out an ARM previously and not being able to refinance your current mortgage. An even worse scenario, if you lost your home due to foreclosure in 2007.

On the other side of the coin, many home buyers enjoyed the abundance of homes on the market in Ohio to choose from and the deals were often mind boggling. Home buyers walked into feasible mortgage payments on great homes due to the purchase price being lower than expected, and being able to buy more than they would have in earlier years. Low interest rates and FHA helped many achieve the opposite side of the newsworthy pitfalls. 30-year fixed rates with instant equity going in.

Many home buyers found the home of their dreams in 2007 and will continue to in 2008. Yes, the market is still slow for appreciation but while talking with many, they understand the reality of the market and will be residing in their new homes for years to come. To them, they have a great home at a great price and no worries about a higher payment in the future when interest rates may climb and home prices will gradually increase.

The real estate market in Cleveland Ohio for 2008 is expected to stay pretty much the same. While steps are being taken to repair or at least attempt to slow foreclosures in Ohio, my best advice is to keep your credit rating high, [or work on it] your debt low, and save money for a down payment or repairs. Here’s a must read to help, [Saving On Fuel Costs] There will be fabulous home buying deals to come this year.

I personally have had a wonderful 2007. I’ve worked with many great people and have added new agents and members to my team. It’s been a better than average year for us even with the market reports being what they are. Thanks to everyone involved with YouShouldOwn.com and all the team members for a fabulous year! I couldn’t work with a smarter, funnier, or a more determined group of agents.

I’ve helped many in 2007 achieve their real estate goals and dreams. I’m thankful for my clients for making it a great year and for all the referrals you’ve sent of friends and family. I’m glad to be of help and it’s nice to know I’m recommended. Here are some of the stand out moments of 2007…

Steve and Rose – I’m so happy to have assisted you and so glad you found the perfect home in Brook Park. Thanks for the laughs and I still think of you when I see a cocker spaniel or hear about ice truckers!

Vernon – You were a pleasure to work with and you definitely found a great buy in Parma Hts!

Matt – Patience like no other. I’m glad everything worked out for you. Great lot in West Park!

David and Vicki – You have a beautiful place on the water in Lakewood and I hope you’re both happy with the (swimming pool views.) =)

John – Hawaii will miss you for sure. I’m glad you found the perfect home in Barrington. A golfer’s dream and a fabulous home!

Mike and Donna – Your new home in Hinckley is gorgeous and I’m happy we found exactly what you were looking for.

Pam – It was an absolute blast working with you and your happiness with the process and your new home make what I do even more enjoyable.

Mark and Lisa – We spent so much time together and had so many laughs. Your home in Medina is truly magnificent.

Chris and Michelle – Coming from Florida, what a great property you now have in Avon. It was my pleasure working with you.

Justin – Great house and great location in Lakewood. A fabulous purchase you made. You were fun to work with and tell your mom and dad I said hello!

John and Michelle – Congratulations on your new baby, new home and move from Chicago to Westlake. You have a great family and a perfect first home. You two are hilarious and I can’t wait to work with you again.