Cleveland, OH
Cleveland homes selling at a loss
CLEVELAND — A recent article published by Axios using data from Redfin shows a growing proportion of homeowners are selling their houses for less than they paid for them.
Lofaso Real Estate Agent Jessica Chodaczek said this is not something most homeowners should be worried about.
“The average homeowner should not see this article and be worried that suddenly their property values are tanking. The data does not support that, but anytime you have a volatile market, like, this year has been kind of wild. There’s some people that are trying to ride that wave and didn’t do it well, and they’re seeing a little bit of a loss. But the average homeowner we’re expecting the property values to hold if not increase over the next year,” Chodaczek said.
Chodaczek said the reasons that some homes are selling at a loss are varied.
“Since 2021, we’ve seen such continual large jumps in property values that many people that thought they rode that wave a little longer missed the boat on the timing. We were seeing these huge gains, but that really slowed down this past summer and really slowed down in Q3, for instance, flippers who bought, maybe last winter thinking, hey, I’m going to dump a ton of money into this, but the value’s going to keep going up if they didn’t sell until Q3 They might have actually taken a loss on it,” Chodaczek said.
There are also motivators for why a homeowner might want to sell at a loss.
“Life circumstances have dictated that they need to sell. Getting married, getting divorced, … things like that. The other common one is a job relocation where they need to go and, third, sometimes people have invested in properties and as much as they hate to sell it as a loss that they need to get it off their books and to move on to the next project,” Chodaczek said.
Homes that are having the most success right now are the ones that are priced correctly for the market and in good condition.
Chodaczek said this comes with proper maintenance and being aware of lead safety, especially if it is an older home, like many of the houses in Cleveland.
“So the more that you can put, in a lot of it’s elbow grease, it’s deep cleaning, it’s decluttering, it’s doing those minor repair issues that have been lingering for a while. Those are all things that are going to impress buyers and help you get the sale quickly,” Chodaczek said.
In a season where just three Cleveland Cavaliers played 70+ games, Jarrett Allen stepped up in a big way, especially with his presence on the defensive end of the floor.
The NBA All-Defensive Team is reserved for the most consistently effective defenders in the league. And with the recent switch to positionless voting, it makes being voted as a member of this group that much more exclusive.
On Monday, NBA Communications announced that Allen received 20 total points in the 2023-24 All-Defensive Team voting process. The 2022 NBA All-Star garnered one first-place vote (worth two points) and another 18 votes for second place (worth one point apiece).
However, these 20 points were not enough for Allen to make any of the 2023-24 NBA All-Defensive Teams. Four centers made the First Team in Rudy Gobert (Minnesota Timberwolves), Victor Wembanyama (San Antonio Spurs), Bam Adebayo (Miami Heat), and Anthony Davis (Los Angeles Lakers).
Overall, the Cleveland big man finished 14th in voting, behind Luguentz Dort (34 points) and Chet Holmgren (21 points) of the Oklahoma City Thunder, as well as Kawhi Leonard (29 points) of the Los Angeles Clippers on the NBA’s de facto Honorable Mention list.
Just some of Allen’s defensive presence could be felt in the Cavaliers’ first two playoff games against the Orlando Magic before he eventually suffered a rib injury that made him miss the remainder of the team’s playoff run. The big man played a significant role in this span, recording a combined 26 defensive rebounds, four steals, and three blocks.
Allen averaged 1.1 blocks and 0.7 steals per game during the regular season, reaching these marks for the third consecutive campaign.
The Cleveland Cavaliers are entering the offseason with a lot of questions to be answered. Despite going 48-34 and notching the fourth seed in the Eastern Conference, they were sent packing by the Boston Celtics in five games in the semifinals.
There have been questions surrounding the future of J.B. Bickerstaff, Donovan Mitchell, and Darius Garland in Cleveland.
With all these things looming over the organization, the Cavs decided to make a shocking change ahead of this offseason.
Cavaliers owner Dan Gilbert is expected to be “significantly” more involved in basketball operations moves beginning this offseason, per @WindhorstESPN on @ESPNCleveland.
A huge summer ahead for Cleveland with long-term roster choices to be made on Darius Garland and Jarrett… pic.twitter.com/ujShu5BF8M — Evan Sidery (@esidery) May 20, 2024
According to ESPN’s Brian Windhorst, Cavaliers owner Dan Gilbert is going to be ‘significantly’ more included in the basketball operations starting this offseason.
The Cavs have Koby Altman as the President of Basketball Operations and Mike Gansey as the general manager. Nonetheless, it looks like those two men will have to include Gilbert in conversations regarding the future of the club.
Jarret Allen’s name has already been involved in trade discussions with Mitchell’s potential massive extension hanging in the balance.
Windhorst appeared on ‘The Hoop Collective’ and said, “I would think the Cavs are going to be spending more time in this next month looking at possible Jarrett Allen trades and what that can bring.”
Allen has two years and $40 million left on his current deal and the Cavs could be looking to move that.
As for Garland, it has been reported that his management Klutch Sports will meet with Cleveland this offseason to orchestrate a trade if Mitchell decides to stay in Cleveland long-term.
With all these big changes on the horizon, the 62-year-old owner will have a say in what transpires.
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