Is it still a buyer’s market today in Cleveland and Surrounding Areas? As experts in the Cleveland and Surrounding Areas real estate market, we get asked this question a lot.
The answer isn’t as simple as yes or no.
THE STATE OF THE MARKET FOR BUYERS IN CLEVELAND, OHIO AND SURROUNDING AREAS
The State of the Market for Buyers in Cleveland and Surrounding Areas Ohio
First off, it really depends on the property type and location.
Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns.
Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.
But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Cleveland and Surrounding Areas, but seem to be rebounding as the rental market increases.
Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Cleveland market in unique ways.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.
Sounds confusing? It is. But We Can Help.
There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once.
We’re investing in Cleveland and Surrounding Areas because we believe in the community and the people here. We are local and know our Cleveland and Surrounding Areas well. We have been helping owners in different situations to sell their properties in Cleveland and Surrounding Areas. We offer a creative option plan that is unique and guaranteed to work in the best interest of our clients. Our approach is different and it’s not affected by the state of the market for buyers.
Our service is different! We believe in Golden Rule and strive to serve our community according to our beliefs. In addition, we don’t believe in pressuring. We understand how stressful it may be to make a decision of selling your house and will work with you at your own pace. In fact, we suggest reaching out to us before you consider investing in remodeling. Some owners feel that at least partial cosmetics or new kitchen cabinets may attract a buyer, but it’s not always so, if you decide to sell your house to an investor such as Mrs. K Buys Houses. More often than not, it is not worth your stress, time and money, especially if you are planning to hire a contractor. As the investors who are not affected by the state of the market for the buyers, we prefer to buy properties that are in need of remodeling.
If you need to sell a property near Cleveland and Surrounding Areas, we can help you.
We buy properties like yours from people who need to sell fast.
Give us a call anytime
or fill out the formover here today if you’re looking to sell a Cleveland and Surrounding Areas house fast!