NewsNet5.comMoney
House & HomeFoodTechHomeTown ExpertsLiving GreenReal EstateWEDDINGSDatingAutosTravel
Democracy 2008EntertainmentEducationLegal SearchEmploymentDealsHealth ExpertsHoliday GuideCleveland247Family


E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters
Related To Story

Find Out Best Areas For Home Sales

POSTED: 1:53 pm EDT May 23, 2007
UPDATED: 8:54 am EDT May 24, 2007

Despite a cooling real-estate market across the country, NewsChannel5 consumer specialist Angie Lau uncovered the hottest zip codes in northeast Ohio.

Here's a look at the most units sold in each of the following counties for the first quarter this year:
  • CUYAHOGA COUNTY – Lakewood
  • GEAUGA COUNTY - Chardon
  • ASHTABULA COUNTY - Ashtabula
  • MEDINA COUNTY - Medina
  • LORAIN COUNTY - Elyria
  • LAKE COUNTY - Mentor
  • SUMMIT COUNTY - Akron
  • STARK COUNTY – Canton

Lau broke down the numbers in Cuyahoga County.

For homes up to $250,000, the best sellers were based solely on the number of homes sold from January to March this year:
  • 44107 Lakewood
  • 44121 Cleveland Heights
  • 44130 Parma/Parma Heights

When comparing last year's first quarter to this year's first quarter, the only city that had a positive percentage change was Lakewood, with an additional four homes sold.

$250,000 To $500,000 Range:
  • 44139 Solon
  • 44149 Strongsville
  • 44145 Westlake
When comparing last year to this year's first quarter, Rocky River topped the list with 60 percent more homes sold. And the city had an even bigger jump for homes priced at more than $500,000.

Aileen Fitzgerald, a real estate agent with Howard Hanna-Smythe Cramer, has been selling homes for years in Rocky River.

She said location is key and that’s why many buyers choose Rocky River.

"It's a wonderful family community, kind of a throw back to the old days. It has reasonable tax base, 15 minutes to the airport, 15 minutes to downtown Cleveland, and so there's just a lot of great reasons to be here," said Fitzgerald.

She also credits the great restaurants, shops, coffee houses, grocery store and parks. Of course, the view of Lake Erie is a huge plus for people. It turns out that many of the people buying live within a five-mile radius.

The out-of-towners often come from similar lakefront communities.

Fitzgerald said it's not uncommon for homebuyers to spend a $500,000 on a home and then spend close to the same amount building an addition or remodeling.

"People are making a real investment in their homes with the thought they're going to stay here for quite a while," said Fitzgerald.

Another hot zip code in the $250,000 - $500,000 range is Avon in Lorain County.

Avon is almost moving toward becoming a Rocky River with several new homes and developments being built. It also has new commercial real estate like plazas off of Route 83, Best Buy, Wal-Mart and Petitti's Garden Center, which just opened this year.

Avon Commons has a little bit of everything and is a huge draw for people from neighboring cities as well. The location is still pretty close to downtown and there's easy access to Interstate 90.

And there are other advantages to Avon as well. Mary Ripich owns prime property in Avon. Her backyard is next to a nature preserve.

"People say they want to move out to Avon all the time. They want homes very spread apart," said Ripich.

Some other strong sellers when looking at last year's numbers compared to this year:

Homes Up To $250,000
  • 44212 Brunswick in Medina County -- 20 percent increase
  • 44146 Bedford in Cuyahoga County -- 19 percent increase
Homes $250,000 To $500,000
  • 44236 Hudson in Summit County -- 7 percent increase
  • 44149 Strongsville in Cuyahoga County -- 6 percent increase

Realtor Irene Iammarino with Howard Hanna-Smythe Cramer said Strongsville has a growing inventory of newer homes, built in 2004 and later. These are pricing at $500,000 and more.

"Our highest priced community is Chase More with homes in the $1 million-plus range," said Iammarino. "Coming in close second is our newest community Avery Walden currently under construction offering homes between $500,000 - $1 million, and we may see higher. Waterford Crossing, Westwood Farms and Stony Point each offer homes priced as high as $600,000-plus, based on new construction pricing and 're-sale' that is coming into the market."

Carl DeMusz, of Northern Ohio Regional Multiple Listing (NORMLS) Service, keeps track of every home sale in the region.

He said one big reason why some zip codes are hot is what neighborhoods can offer.

"Oftentimes, an area is well-kept, an area where jobs are important. But what's leisure like? What's it like living there? What's traffic like? The community means a lot to people," said DeMusz.

He also said that now is a great time to buy because the rates are good, and there's less chance of buyers over-extending their finances.

Rates Stuck | Considerations | Types Of ARMs

"There's no reason to shop around for an adjustable rate or any type of a risky-type mortgage. Just a standard 30-year fixed is a beautiful mortgage rate, which to me means it’s a great time to buy," said Demusz.




Links We Like
Sponsored Content
Teens and sleep, benefits of naps, older people and sleep, snoring. See nine sleep myths debunked right here. More Details

In many homes the kitchen is the focal point of the entire house. Keep your kitchen up to date and meet the needs of your family’s lifestyle. More Details

It’s so easy for us to go with the quick and often times unhealthy option when it’s time to grab lunch during a busy work day. Here are some tips on how to eat healthier at work. More Details

Looking for a new car? Find your ride with the Model Showcase featuring all the new cars from top manufacturers. More Details

Don’t be left out. Make the switch to Digital TV.

Sponsored Links

Stock Quotes

GET A QUOTE
Enter Symbol

Credit Center

The Average US Credit Score is 693. What's Yours? See it Instantly Online for $0. By Experian®
Experian

Credit Made Easy

Your customers love to make purchases with their credit cards, so isn't it about time your business started using one as well? More Details!

CreditCards.com

Sponsor

Best Local Rates On...



LocalNational

30 Yr Fixed Mortgage6.09%6.05%

48 Mo New Car Loan6.72%6.85%

$30k Home Eq Loan7.52%8.17%

6 Month CD2.88%2.94%
Help! I don't understand!
All Rates


Housing Crunch

With banks and lenders facing major troubles, gain some insight on how to sell, refinance or keep your home. You'll find everything mortgage in our special section. More Details


E-Mail News

Get E-Mail News Headlines When YOU Want Them
 Breaking News Alerts
Noon Headlines
Daily Forecast

Find Local Businesses