Residential Sales v.s. Listings in Vermilion, Ohio 44089 for 2011

Here is a general picture of the Vermilion, Ohio situation based on stats to date. Not something to applaud - but real estate is still moving. Contact me at leehisey@howardhanna.com for more detailed analysis or for info on selling your home.

Happy Holidays!

Some Holiday Spirit! Check it out for a little "feel good" break:

http://www.youtube.com/watch?v=uH8FvERQHtM&fea

Aren't there some amazing things happening in downtown Cleveland, Ohio! From the medical mart to the flats and the lakefront plan to the casino - there is positive energy flowing again. Treamont and Ohio City are developing and growing with their unique style and flavor. Downtown is feeling invigorated again, and conversations I've overheard in the surrounding communities (and I hear a great deal driving 30,000 miles a year almost all in the northern half of four counties) is once again becoming hopeful and optimistic.

We still have some recovery time in front of us - but things are looking up. Spring is a time of new energy and growth and Northern Ohio is ripe for a burst of new life next spring.

How We Market - And Our New Facebook Page!

New Designs for Multigenerational Households?

Some old/new again homes are coming into the marketplace. Remember when it was assumed the older generation would move in with the younger generation at some point? No – I don’t either. But that was the case in most families.

Builders are once again building homes to accommodate multiple generations. Increasingly a parent or parents may move in with their kids. Young college graduates are staying home longer while they look for work – or just because they have student loans to pay-off. According to the U.S. Census Bureau the category “multigenerational households” increased by 30% from 2000 to 2010 and the major home builders are taking notice.

Some features:

• Second Master Bedroom Suites
• Kitchenettes
• Larger Ranch Models
• Separate Entrances
• Additional “Living/Sitting Rooms w/ Second Master Bedroom
• Perhaps a Move Away From Senior Communities? (restrictions)
• Stand-Alone Guest Houses/Flex Space

Additional changes – pets are becoming more and more “Part of the Family”. This is certainly true in our home where are children are older and moving on. We have several times in the last year listed and sold homes with multiple “cat doors” allowing the cat(s) to move freely throughout the home. They also included litter box closets with cat doors.

Home buyers needs change and the home building market changes to meet their needs. Are your needs changing? Contact me at the Hisey Group w/ Howard Hanna: Lee Hisey 440-315-6000 or leehisey@howardhanna.com.

Some Interesting Changes in Real Estate

There has been a great deal of “Not Negative” news regarding real estate in the last several weeks. It has been a refreshing change.

I’ve read numerous stories in real estate trade magazines, Bloomberg Businessweek Magazine, Barons, local newspapers and various business e-newsletters covering the changing demographics of buyers and renters. Some cover the actual event and you needed to ask “Why?” to realize the difference in the incentives behind the deal. Others covered studies or surveys.

Observations:

• The size of homes being built is continuing to shrink. (less seldom used space for space)
• More and more emphasis on energy efficiency – people are realizing energy in not going to get less expensive over the long haul .
• More renters – particularly among younger consumers.
• More in-law suites being included in new homes.
• Often small homes – but increased quality. (good – I’m so tired of poor quality McMansions built for square foot and not long term durability and quality of features)
• More outdoor features/usable living areas.
• More “walking” neighborhood alternatives. More younger buyers asking “How far to the nearest public transportation”.

I personally find these changes refreshing. It seems common sense is once again working it’s way into the home market.