"That doesn't mean every house in Northeast Ohio has regained the value lost during the housing bust, of course. Local data show that median, or middle, sale prices in some suburbs and many Cleveland neighborhoods still remain depressed. But aggregate local prices reached a notable benchmark in July, according to the S&P CoreLogic Case-Shiller Indices, which were updated Tuesday."
"The Cleveland-area index now is 0.06 percent above its pre-crisis high. Nationwide prices are 11.2 percent above their mid-2006 peak, but 40 percent of the 20 major metropolitan areas highlighted by Case-Shiller still haven't recovered."
Of course not every house is regained it's former value. That is where I come in to your home buying process. There are a lot of areas that are increasing in value.....we watch those areas. There are also laws and city codes that create increases and decreases in real estate we know them.
A great example is some of the Cleveland areas look great on returns, as a buyer you need to know how long does a typical tenant stay? That is very important to know so that you can calculate tenant turnover. Many homes look good on paper but the area is not good.
Our homes that we purchase have excellent tenant retention and low turnover in tenants. That creates a better income stream for our clients. These homes are in areas that have the best chance to capture equity and usually have it when we purchase. Had a call today and the investor ask how did he get such a good deal.
When your buying a home to live in that information is also crucial if your wanting equity growth in the future. You need data that shows you today's pricing trends. There are cities that are really showing a nice equity growth and others that do not show that.
Knowing the cities and their differences can help you make a better real estate decisions. Call the Pros I'm Brett 216-703-5740 EXP Realty Ohio and 602-363-6551 EXP Realty Ariz
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Thank you