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Local realtors assure now is the time to negotiate, buy dream home as housing market starts to correct itself

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Local realtors assure now is the time to negotiate, buy dream home as housing market starts to correct itself


CLEVELAND — Residence rates of interest proceed to sit down at about 7% and it’s costing homebuyers greater than we have seen within the final 20 years.

However native realtors say that should not deter you from discovering your dream dwelling.

Regardless of the panic throughout the housing market we have seen over the previous few years, Deborah Bonner, actual property agent and president of the Larger Cleveland Realtors Affiliation says, it is at all times a great time to purchase, particularly now because the market begins to right itself.

“There are extra homes now. We aren’t again to the place we have been again in 2020, like early 2020 or 2019. We’re not again there but,” she stated. “[There is] like a 2-6% of a rise so far as stock.”

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Even with rates of interest doubling this 12 months, Candice Eberhardt, broker-owner of Eberhardt Realty and Administration and president of Akron’s realtor affiliation, says there is not any want to fret.

“When the pandemic hit, the rates of interest dropped to 2 or three %, and so they’d by no means been that low traditionally. So, for those who purchase a house, you may nonetheless have the identical advantages that come together with homeownership,” she stated. “I’ve had lots of people which have determined to take a step again as a result of elevated rates of interest. However as soon as we’ve got the dialog, numerous them are extra comfy than they have been previous to.”

Nonetheless, inexpensive housing should be tougher to seek out. Forbes stories homebuilders are actually slowing new building because of low demand. It is why again in October, Goldman Sachs predicted a 5-10% drop in dwelling values between now and March 2024.

Right here in Ohio, dwelling gross sales dropped 22 % in October in comparison with numbers recorded that very same month final 12 months. But, sale costs elevated.

“We have been low for thus lengthy that individuals turned comfy and with the latest will increase, I believe we’re simply on track, you understand, to the place numerous different locations are in. It is simply time for the worth to be raised,” Eberhardt stated.

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Nonetheless, there is a technique to get your dream dwelling or into a brand new one. Officers say whereas a housing market crash is probably going, they don’t count on it to occur in 2023.

“I do not know the place the market’s going to be in six months. I do not know the place it’ll be subsequent 12 months, however I can let you know what is going on on now and there are alternatives for those who purchase now to get a decrease rate of interest,” Eberhardt stated. “You simply must be artistic together with your strategies so far as negotiating the offers are involved.”





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Cleveland, OH

Cleveland to Close McCafferty Health Center in Ohio City, Redevelop Site for Affordable Housing

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Cleveland to Close McCafferty Health Center in Ohio City, Redevelop Site for Affordable Housing


click to enlarge

Mark Oprea

The city of Cleveland will be lining the McCafferty Center, a health clinic on Lorain Avenue, up for conversion into affordable housing in the next two years.

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Lorain Avenue has had its share of promise in the past year or so.

In April, RTA announced funding for a bus rapid transit line study for the Ohio City/North Olmsted corridor.

And last week a second update to the Lorain Midway, a two-mile cycle track that would extend from West 65th to the Hope Memorial Bridge, was unveiled to the public, plans lush with comfy tree lines and protected pathways. It would provide the street with a much-needed makeover, one that pairs nicely with zoning updates to emphasize transit-oriented development across the city.

Plans that have now made their way to the McCafferty Center Building off West 42nd and Lorain, a clinic controlled by the Cleveland Department of Public Health. Instead of offering Covid shots and STI tests and other low-cost care, the almost two-acre site, the building on which is underutilized, will be soon lined up for the development of affordable housing.

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Which is okay with Department of Public Health chief Dave Margolius.

While McCafferty has for years been a rock in the neighborhood for reproductive health services and vaccines, Margolius said he “also recognizes that housing has a tremendous impact on health.”

“[We] are pleased be part of a process to create more opportunities for affordable housing,” he added in a press release, “in a neighborhood that needs it.”

Ohio City’s Strategic Plan in 2019 suggested the neighborhood could use at least 600 more units of housing, “including the approval of” some 60 units of affordable housing. Most of the recent additions to that stock have covered more of the need for the former rather than the latter.

Redoing, as the city says, a “largely-underutilized” block corner with a 53-year-old building that’s only a quarter occupied is a no-brainer route towards achieving those elusive affordable housing goals. For seniors. For those who can’t afford four-figure rents. For those who need to stay in the neighborhood. Ground floor uses could include spaces for non-profits and social service agencies.

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Adding affordable housing stock has Councilman Kerry McCormack’s intention for years: the chance to give older Clevelanders and lower-income folks a chance to stay in Ohio City as the neighborhood changes and property values climb.

“As we move forward, I am excited about the future of this site continuing to serve a public purpose by providing affordable housing and social services to the neighborhood,” McCormack said via a press release. “I appreciate the hard work of city staff and look forward to future community engagement to ensure this is the best project possible.” (He did respond to a call Wednesday.)

click to enlarge McCafferty's new future pairs nicely with the street's probable conversion into the Lorain Midway. - Mark Oprea

Mark Oprea

McCafferty’s new future pairs nicely with the street’s probable conversion into the Lorain Midway.

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A mentality that denizens  of Ohio City might agree with.

Though there’s some neighborhood hesitation with the Lorain Midway—namely due to its threat to on-street parking spaces—and concerns about development in general, McCormack’s call for public input, even just for one building, should help avoid neighbors at loggerheads. And it may help align the councilman’s own push for suitable housing for seniors.

And just simply allow for a new building in general, one that will better match the future of the street.

“It’s pretty dingy and dated inside. I mean, they’ll have to tear it down ’cause the condition of the building is not great,” Whitney Anderson, 37, who owns a home across the street from McCafferty, told Scene. “And so, I mean, I imagine it would be more expensive to try and rehab into housing.”

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Not, Anderson clarified, another Welleon. “With so much market rate housing being built in the area, I think having the balance is really essential.”

As for McCafferty’s asset to the less fortunate, the future is a little more nebulous. Margolius told Scene that CDPH has “some leads” as for a new West Side location, but hasn’t signed anything. Because a developer wouldn’t be lined up for another year or so, Margolius said “we have a little time to find the perfect fit.”

Just as it would for patients themselves.

“I’m not sure what I’d do, not sure what I’d do,” Don, a cancer patient in his sixties in a multicolor leg cast, told Scene sitting in a wheelchair on the corner of 42nd and Lorain.

Though Don said he’s only been to McCafferty for healthcare “a few times” in the past three years, he said the move further west, even just a few blocks, prove a hurdle. Especially when, as a homeless man, he relies on hygiene materials from the shelter across the street.

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“Is it close by?” he asked. “If not, we’ll see.”

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Cleveland, OH

Northern Ohio Weather Warning: Severe Storms thru 10PM, Unhealthy Air

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Northern Ohio Weather Warning: Severe Storms thru 10PM, Unhealthy Air


Cleveland, OH – Scattered thunderstorms are expected to develop ahead of a cold front this afternoon and evening in northern Ohio. A couple of these storms may become severe, with damaging winds approaching 60 mph and locally heavy rainfall. The most likely timing for these storms is between 2 PM and 10 PM, moving from west to east.

According to the US National Weather Service in Cleveland, while some areas might not experience any rain, the possibility of isolated severe storms remains significant. Residents are advised to stay indoors when thunder roars and avoid flooded roadways.

Adding to the concerns, the air quality index in Cleveland is currently at 121, indicating conditions that are unhealthy for sensitive groups. Residents, especially those with respiratory issues, are advised to limit outdoor activities and use air purifiers if available.

Today’s forecast for Cleveland includes a high of 82°F and a low of 71°F, with cloudy conditions and a 50% chance of precipitation. The UV index is low, and visibility is clear at 10 miles. Looking ahead, the weekend forecast predicts partly cloudy skies with highs in the upper 60s to low 70s.

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Cleveland, OH

Five-star wide receiver chooses Oregon over Ohio State

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Five-star wide receiver chooses Oregon over Ohio State


COLUMBUS, Ohio — Five-star wide receiver Dakorien Moore committed to Oregon on Thursday night, as the hotly contested recruitment ended with Moore choosing the Longhorns.

Moore chose Oregon over Ohio State, Texas and LSU. He was originally committed to LSU, but backed off his pledge in May.

“After today, I am done with my recruitment,” Moore said on Instagram Live.

Ohio State had been interested in the Duncanville, Texas native for quite a while and hosted him on one of his four official visits back on the weekend of May 31. At 5-foot-11 and 182 pounds, Moore is the No. 3 overall player in the country and the No. 1 receiver. But the Buckeyes’ hope of landing the top receiver in a recruiting cycle for the second-straight season now appears to be over.

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The Buckeyes have three commits in their wide receiver room for the 2025 class: Four-star Quincy Porter, four-star De’zie Jones and three-star Bodpegn Miller. The hope was that Moore would be the fourth in the class, but now, they’ll have to look elsewhere.

And, for whatever it’s worth, Ohio State’s chances of being the No. 1 recruiting class in the country has taken a slight hit. Alabama and LSU both have higher average player ratings (94.11, 93.73) compared to Ohio State (93.70). The Buckeyes still have the No. 1 class, but Alabama and Oregon are surging, and Georgia still only has 17 commits in the class compared to 22 for Ohio State.

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