Overall: This year is going to be a more balanced market. It will be more of a sellers market vs here's the deal – take it! Nothing happens overnight but the market will start to balance out. The pricing of housing is going to go up! I have seen it first hand. Interest rates are going to stay low but are going up. Depending on what your rate and instrument are it is a great time to refinance! (unless you are about to move out or less than a half of a point above the current rate)
If you are buying: If you are going to move, now is really the time, the deals are now. This morning on the news the report was that the second wave of foreclosures everyone predicted is here. Ohio is still in the top 10 states for the big F! So get out there and buy something before 1. The tax credit ends and 2. You miss real opportunity. The deals are the higher end houses. The medium and lower end housing prices are going up. BUT – Find the right place and make sure you love your house!! If you are going to get stuck with the place, make sure you like it and then worry about getting a good deal!
If you are selling : Get real about the price. You are better to come out reasonably priced (by reasonable – to you as well as prospective buyers) vs drop your price incrementally and then it looks desperate. Be proactive about the sale of your home. Make sure that your house is the best in class! Spend some time seeing your competition, go to open houses and see what is out there. You might be surprised. Lastly, get your home inspected. Fix what comes up wrong on the inspection (within reason) because once a buyer has discovered a "flaw" they will lower ask you to fix at three times the price. (ie: If you have a flashing problem, fix it. The repair will cost you $200 vs $600 if a seller requests the fix)
The oracle has spoken!! Get out there and "git r done!"!!!!
Wow. I have to admit to be being depressed lately. Just when the economy didn't seem like it could get worse – it did. Unemployment is still at an all time high, the threat of layoffs is still looming around, and the economy doesn't seem to be moving. During these times and under these conditions, people are making tough decisions – pay the credit card or pay the mortgage. Amazingly – people are choosing their credito carditos over their mortgage payment. 
The obvious reason is that a couple months without paying your credit card bill – they will shut your account down. You go two months without paying your mortgage – they might start the foreclosure process. It can take YEARS to actually be removed from your home.
I don't have the answer to this dilemma. I can't imagine facing it but a growing number of people are making this decision daily. What would you do?
For the full article, click here.
Would you eat a fish that came from a former Ford Plant? I'm not sure that I would but I'm hopeful that the concept happens for the former Ford Motor Co Lorain Assembly Plant.
An environmental consultant for the owners of the former Ford Plant will explore the possibility of a new aquaponic farm at the site, which sits at the intersection of Baumhart Road and US 6.
The deal is far from done but it is a very green and interesting way to recycle this property! For the complete story click here!
The picture is from Tree Hugger – the company that wants to farm the fish. This is what one of their fishy farms looks like – interesting!
It is NO secret that I am a HUGE Golden Girls fan. I am also sure that this blog entry is stepping on someone toes but I don't care. Betty White is petitioning, through her Facebook Fan Page, to host Saturday Night Live. She has never hosted and would be the shows oldest host! RIDIC How is this possible. She needs to host the show.
Click here to support Betty's cause. She currently has 9,400 votes and counting. What that – I am off to grab a cheesecake!
UPDATE (Thank you Chad): Betty's fans have setup the FB page. But I hope that Betty and Lorne Michaels see it and go for it!
March's issue of Architectural Digest will feature Jennifer Aniston's LA home. She has described the home as a "big hug" and it sounds like one!!! It sounds fabulous – she converted spaces into a spa and has a dining room table for 24!
For the complete story click here.
I was reading in the plain dealer today that the owner, Terry Tarantino, of La Dolce Vita bought his building. This building has retail on the first floor (the restaurant) and 10 apartments. It is 3 stories high and has a prime location in Little Italy. BUT – this building has a "totured past".
Tarantino owned it in 1980 and lost it, the next owner lost it, so on. Property records show that Tarantino paid $725,000 for the building. The sale closed today — barely three months after the property changed hands at a court-ordered auction. It leaves your wondering?!. How good of an investment is this building or are people suckered in by the sexy location?
Tarantino plans to invest money into the building and eventually turn it into a hotel. Good for him! My personal opinion is that his plan is insane. Little Italy needs a hotel like a hole in the head. I realize this is a long term plan vs. something that is going to happen tomorrow BUT with that being said I wish him the best of luck and hope I am completely wrong.
For the full story click here!
It came to my attention that Lenny Kravitz was selling two of his homes. He is selling his NY SoHo Duplex as well as his Biscayne Point Circle (amazing neighborhood) home in Miami. I would love to be a fly on Lenny's wall. The parties, art, and general atmosphere would give you great stories for life!
Here is the real estate skinny;
30 Crosby Street, NY, NY: The 6,000 SF (with 3,000 SF of outdoor space) Duplex was originally bought for $7 Mil and underwent a million dollar renovation. The current sale price is $14,900,000. [click to continue…]
Last night The Mr and I were out on the town with Lord Beck and some friends. After a lovely meal at Crave, we headed over to a new place on the South side of the CBD (Central Business District), Jimmy's. It is located between Diamond Deli and DaVinci's Pizza, formerly Bandito's (and former to that Brew's Brews). The music was great, the crowd was mixed (in age – college to the established professional), the location was great, and in summer there will be an outside patio. It was nice to go to a local non-creepy lounge and enjoy a cocktail. The only thing that was kind of funny is that there was a Jersey Shore group. The majority were diverse but there was one group that had Snooki and The Situation look a likes as part of their gang. It cracked me up.
Jimmy's overview:
Owners Scott Brewer and Jimmy Salaheddine.
Upscale martini and wine bar. Serving cold appetizers, cheese plates. No kitchen on the premises. Customers are welcome to bring in food.
Hours: Mon. – Sat., 3pm – 2:30am. Happy hour: 3-7pm daily.
Summary – if you want to feel like you are in a more upscale lounge and don't feel like driving to Cleveland, Jimmy's is your place. You will def find me there again soon!
As I sit here and watch the snow fall and enjoy the quiet of the morning hours, I wish I was somewhere WARM! HA I love the snow and everything but I def miss my heat. As I am up trying to solve the world's problems in my head and wishing I was somewhere warm, I turned to the International Herald Tribune to see what is new and exciting in the world. I found a story about real estate in Grenada. (Grenada Article) The story was about a castle for sale, $4 Mil, and the basic costs to make such a transaction happen. It made me think about my Hot Mess Property of the Week, I have let is slack. SO – there is no time like to present!
The Hot Mess Property of the Week: RA 8 Grenville, St Andrews, Grenada
This gorg mess is two stories, 4 bedrooms and 2 bathrooms, and it has just under a half acre of land. The amenities are listed as:
- Air Conditioning in the bedrooms
- Close to local shops
- Lock Up Garage (my personal fav)
What I like BEST about this house is the blue against the stone exterior (note the blue trim matches the blue "lock up" garage. AND it has a lovely fountain in the driveway that looks like it came from the fire station in East Akron. LOVE IT! (I actually do like the fountain in front of the East Market gas station by Goodyear)
The sale price for this lovely property: USD $375,000.00
If you would like to add this property to your portfolio, click here for more details.
If you had as much money as Brad and Angelina – what would you do? From what I understand and I have direct knowledge about this sort of thing (NOT AT ALL – ASSUMPTIONS AS ALWAYS!), the power couple has been prudent with their cashola and has invested in wisely. They own tons of prime real estate all over the world, homes in great areas, and give generously to charities. This week was no exception, Brad Pitt added to his compound in LA.
It is reported from various sources that: Brad Pitt has splashed out $1.1 million buying his fifth house on one estate. The huge Loz Feliz property as his base in Los Angeles when he's in town with partner Angelina Jolie and their six children – has bought the 3,232-square-foot home next door to his main home. [click to continue…]
