Downtown Lorain, Ohio - Working Towards a Revival?

Charleston Village Cafe

This week I had the opportunity to have conversations with two people involved with downtown Lorain.  One was a member of the Port Authority board and the other a business organizer and owner on Broadway Ave.  Both gave me hope that this city will eventually have a long overdue renaissance.
Are business owners going to organize, work with the city and port authority and create a unified plan?  Can the city create avenues to the river and lake through the "great wall" of buildings currently running along Broadway Ave blocking one of the best locations for festivals and concerts in the county?
The city has consistently fallen behind other lakefront communities despite being on Lake Erie and a river, having ample labor and inexpensive real estate.
If a combined force can ever be created and work together then Lorain, Ohio could once again have a booming downtown business environment with artists, musicians, restaurants, theater and new living opportunities.
Lets hope the small steps forward can turn into leaps and that politics and infighting will no longer be an impediment to future progress.  Lorain has unlimited potential and can become an asset for Lorain County and Cleveland's West Side.

If you are an investor interested in real estate opportunities in downtown Lorain, Ohio please contact me today at 440-315-6000 or RealEstate@HiseyGroup.com.

How will the government closure impact purchasing a home?

As of this morning Congress failed to reach a compromise.  How could this impact your purchase of a home?

• ·         For the time being the mortgage market will continue to operate as it has, although things may be slower than usual.
• ·         The FHA and VA will remain open however there will be a pared down work force.
• ·         FNMA and Freddie Mac will continue to purchase loans. 
• ·         The USDA will shut down.  There will be no new loan approvals until a budget compromise is reached.
• ·         The IRS will shut down. Verification of tax returns will not be available. This has the potential of delaying closings.

Howard Hanna will continue to be here to help.