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Cleveland is No. 2 on Zillow’s list of hot housing markets in 2023

Cleveland has a prime spot on Zillow’s annual predictions for the hottest housing markets of the year. The tech-driven real estate marketplace just released its top 10 for 2023, and Cleveland is at No. 2, behind only top-ranked Charlotte, North Carolina. The rest of the top 10, in order: Pittsburgh; Dallas; Nashville; Jacksonville, Florida; Kansas City, Missouri; Miami; Atlanta; and Philadelphia. Zillow said its list is “based on an analysis of forecast home value growth, recent housing market velocity and projected changes in the labor market, home construction activity and number of homeowner households.” Pushing Charlotte to the top of the list, Zillow said, is its “forecasted annual home price growth,” while Cleveland’s second-place rank “can be attributed to its high market velocity and job growth.” Anushna Prakash, economic data analyst at Zillow, said in a statement, “This year’s hottest markets will feel much chillier than they did a year ago. The desire to move hasn’t changed, but both buyers and sellers are frozen in place by higher mortgage rates, slowing the housing market to a crawl. Markets that offer relative affordability and room to grow are poised to stand out, especially given the prevalence of remote work.” There are only four holdovers — Charlotte, Nashville, Jacksonville and Atlanta — from last year’s Zillow top 10, which the firm said is “an indicator of how much the housing market has changed in just one year.” Some previous high-flyers — San Jose and Sacramento, California; Minneapolis–St. Paul; Denver; and San Francisco — make up the five coolest large markets in Zillow’s 2023 projections. Home Values In Cleveland Have Increased 18.8% Yoy The Cleveland, real estate market has seen steady appreciation in recent years. According to the latest Akron Cleveland Association of Realtors report, the average home value is $236,873. The current inventory of available homes is 1.3 months, down 7.9% from the same period a year ago. As a result, rental property is in high demand. Over half of the housing units in Cleveland are occupied by renters. This trend has created a huge demand for single-family rental properties. Rental property can offer both cash flow and appreciation over the long term. Downtown Cleveland has seen rapid growth over the past several years. $19 billion in development has been completed or planned downtown since 2010. The city recently redeveloped a ten-acre green space. Additionally, there are many jobs in the Cleveland metropolitan area. Many of them pay well, but there are not enough qualified candidates to fill them. It seems the investment potential for Cleveland is still going strong and shows no signs of letting up. If you would like more information and may be interesting in Cleveland property investments please email the team at : [email protected]

The USA Housing Market – What can we expect this year ?

Last year we wrote a few articles on the US housing market about how high interest rates were starting to slow down the market while inventory also remained constrained. Now that we have entered a new year how are things shaping up now ? the answer really depends on who you ask. A lot of people in the housing industry will predict lower Buyer demand amid fears of higher borrowing rates, plus Buyers are still facing a shortage of inventory so the feeling is lets put 2023 on the back burner and see what happens. Others think the housing market will continue to outperform and grow as compared to the pre-pandemic. Nick Bailey, president and CEO of RE/MAX, LLC recently quoted “ One thing I can say for certain about the housing market in 2023 is that no matter the macro-economic conditions, Americans will continue to buy and sell millions of homes” Last year the US housing market started to face a downturn and so far this year things do not look set to change, the volume of transactions are lower than this time last year and we are staring to early signs of declining prices across age country. But predictions are a bit of an unknown and nobody can see 12 months in advance but what happens this year will depend on what happens in the broader economy. Will inflation continue to rise or will it fall ? are we going to see a recession or with the Federal Bank step in and soften the landing. Many experts are in agreement that likelihood is mortgage rates will start to fall this year and in this event we could actually start seeing price increases again, some are saying we can expect a 4% fall in prices at the start of the year but come the end of Spring we could be looking at price increases of over 5% or more. One thing bear in mind is that these general predictions are nationwide and not are not specific to a certain State or City, each State and City has its own unique combination of factors that is driving house prices and demand. Taking Cleveland as an example we seen the housing market decline in November last year due to rising mortgage rates both sales and new listings were down as compared to last year. But actual house prices are still rising by single digits. According to Realtor.com, Cleveland-Elyria, Ohio has been ranked 32nd among the 100 largest U.S. metros in their 2023 housing forecast. In 2023, Cleveland home prices are projected to increase by 4.3%, while home sales are projected to increase by 2.7%. In Cleveland–Elyria house prices rose 10.8% over the past year and rose 0.4% over the last quarter. The Cumulative change in the Cleveland house price index since 2007 has been +57.7%. Cleveland has a record of being one of the best long-term real estate investments in the U.S. The cumulative appreciation rate over the ten years has been 67.95%, which ranks in the top 50% nationwide. This equates to an annual average Cleveland house appreciation rate of 5.32%. There is general consensus that we have now entered a Buyers market but not in Cleveland, in Cleveland we are still seeing a Sellers market as there still is a limited supply of houses for sale and Buyers are still offered to compete with each other which is resulting in higher prices and quicker sales. When you have a high demand and limited supply this benefits the Seller when it comes to setting their price. The only way the the scales will tip in Cleveland is if we see an increase in inventory to more than six months inventory which is not very likely to happen in 2023 or maybe even in 2024. Even if mortgage rates do not stop increasing the likelihood is that Cleveland house prices will not decline given the volume of demand and low level of supply. If you would like to see some of our Cleveland inventory please email [email protected]

Slavic Village’s Broadway News

The five-way intersection of Broadway Avenue, East 55th Street and Hamlet Avenue is the traditional centre of Slavic Village, once called Little Bohemia for its large Czech population. It retains all of its pre-World War I buildings. Reviving this area as part of the Broadway transit corridor is the goal of new planning and development by the Greater Cleveland Regional Transit Authority and Slavic Village Development Inc. The Broadway Avenue corridor in Cleveland’s Slavic Village could soon see new signs of life thanks to a federal grant that was awarded last week to the Greater Cleveland Regional Transit Authority (GCRTA). The $432,000 grant will allow the transit agency to develop plans to redesign the Broadway corridor from the Turney-Ella bus loop near Calvary Cemetery to downtown as a bus rapid transit (BRT) route with enhanced pedestrian and bicycle infrastructure. Once those plans are complete, it can then apply for federal funds to build that infrastructure. The planning work will also help guide land use decisions involving zoning, parking policies and public incentives to support local transit-oriented development ( TOD ). The city of Cleveland and Slavic Village Development Inc is a nonprofit community development corporation. On Nov. 17, the Federal Transit Administration announced the award of approximately $13.1 million from its Pilot Program for TOD to 19 projects in 14 states for 2022. The TOD planning grants support community efforts to improve access to public transportation. The grants help organisations plan for transportation projects that connect communities and improve access to transit and affordable housing. “The Greater Cleveland Regional Transit Authority will receive funding to plan for TOD along the proposed Broadway Avenue Corridor project, a multi-modal planning project that will incorporate bus rapid transit with bike and pedestrian infrastructure,” said the FTA in awarding the grant. “The TOD plan will increase bicycle and pedestrian access to transit hubs, recommend ways to incorporate green infrastructure, and analyse ways to revitalise commercial and housing opportunities near transit stations.” This is the second time GCRTA has been awarded funding from the FTA’s Pilot Program for TOD which has been in existence since 2015. In 2018, GCRTA won $336,000 to plan for TOD along the MetroHealth Line, a planned BRT line connecting downtown Cleveland with the city’s Old Brooklyn neighbourhood via West 25th Street to serve MetroHealth’s expanded health facilities plus growing residential and employment areas. The NOACA report also stressed the importance of TOD investment in what it called “the village centre” — the core of Slavic Village, which is an historic district surrounding the intersection of Broadway East 55th. This five-leg intersection including Hamlet Avenue is a traditional mixed-use neighbourhood centre, with commercial buildings, many featuring apartments above storefronts, fronting the main streets. Global Investments currently have 2 amazing properties currently for sale matching this criteria. Please see the following links : https://globalinvestsinc.com/property/cleveland-174900/ https://globalinvestsinc.com/property/cleveland-474900/ NOACA’s report noted this is one of only two intersections in Cleveland with pre-World War I buildings on all of its corners. This crossroads has 50 businesses and institutions, a post office, the offices of Slavic Village Development, Inc., and several churches, including the landmark Our Lady of Lourdes. The construction of multiple distribution centres nearby that will offer more than 1,000 jobs. One is already under construction — the $30 million, 156,775-square-foot Cleveland Cold Storage food warehouse at East 75th Street and Opportunity Corridor Boulevard. Another — the 182,000-square-foot Reserve Premier warehouse at 3000 E. 55th — is getting its site cleared in preparation for construction. Another big project is the possibility that the Cleveland Browns may seek to move the football stadium off the lakefront so it can be developed with year-round uses. Team owner the Haslam Sports Group reportedly has shown interest in building a new stadium on the current site of the Main Post Office along Broadway or possibly another site just south of the Municipal Parking Lot. The stadium would apparently be part of a “ballpark village” development district. If you would like more information or wish for a call regarding the latest properties Global Investments can offer in this location then please email us today at : invest@globalinvestmentsincorporated.

Is Christmas a good time to buy a property investment?

Is Christmas a good time to buy a property investment ? this is a question we are asked every year. The simple answer is yes, the Christmas season is one of the best times of the year to purchase an investment property, you are probably wondering why ? When we think of Christina we think of down time, spending time with loved ones and enjoying good company and food, looking at investment property is probably the last thing on your mind but it shouldn’t be. The Christmas season is one of the best times of the year to look at investment properties because you have a number of different factors that come into play at the this time of the year. First of all you to tend to see the prices of some properties being lowered at the end of December as Sellers try to warp up outstanding business before the commencement of a new year. If the property has been sitting for a few months Sellers are more open to bids in a time considered slow in real estate. From the Buyers point of view this means prices in general are below market value at this time of year so you could snap up a bargain if you are on the look out. Also at this time of year you find less competition in the market, with agents taking a break and the market slowing down until well into the New Year you have more breathing space. Many people feel it is the wrong time of the year to be considering a property purchase, so there are less offers on the table, that means your investment property will not be taken away from you because of a higher offer. You have more time to ponder and consider the different options available to you and can even try making a lower offer. Sellers are likely looking for a quick settlement if their house is on the market over the holidays, there is also a good chance you could secure a quick settlement on the property and get things wrapped up quickly. Another plus is you get the see how the house is performing during the peak of winter, if you are buying a house in the summertime it might take several months to see if there are any insulation issues, heating or roof leaks as normally it will be much hotter and dryer in the summertime .Getting an inspection done with heavy rain or snow is ideal to really test out the property. As we reach the end of the year many Sellers are getting ready to put their properties on the market in early spring as this time of the year tends to be busy as people have made plans for the new year. What you also find is that some Seller want to get a head start and will list their property during the holiday season, by the time the market opens back up again you could have missed your perfect investment property. The great thing about the holiday season is that most people have more time on their hands, you have the chance to do your research at a slower pace, study the market in more detail and make an offer at a more relaxed place, consider your offer and plan out your management and other things needed for a successful investment property. Another plus buying a property at the peak of the winter is getting tenants placed quickly in the new year, in January you tend to see a lot of movement in the tenant market as people take on new jobs , start back at college or simply want to move to another City or State to fulfil their new year plans. Of course, this can be a lot of work at a time of year when you just want to kick back and relax but then again it is a time of year where you could bag the perfect investment property at the perfect price. If you are ready to invest in the USA housing market, or wish for a call and more information on the latest properties Global Investments can offer then please email us today at invest@globalinvestmentsincorporated.

Detroit business news 2022

Although things have begun to cool off a bit, the metro Detroit real estate market is still hot for sellers and frustrating for homebuyers trying to compete with investors. Inventory is still at record lows and the number of people looking to buy remains high. In comparison to other States prices are still attractively low. The 11-county Detroit region is home to more than 300 municipalities and 300,000 businesses, including 11 Fortune 500 companies and numerous educational institutions. Here is some of the latest business news from this week which is influencing the continued demand for Real Estate investment in The Motor City. General Motors GM has proudly been a part of Michigan for over 100 years – since 1908 A few important facts : Over 53,000 employees in Michigan Over $5.8 Billion in taxable wages. 1,985 Suppliers in Michigan in which General Motors spend on average $15.6 Billion with each year. News : General Motors Co. on Tuesday said it made $3.3 billion in net income in the third quarter, up from 2021’s third quarter profits of $2.4 billion despite a tight supply inventory still hindering sales and lessening demand amid economic uncertainty. GM’s revenue was $42 billion in the quarter, up from the $27 billion the company made in the same three months last year. The results beat investor expectations. “This week GM delivered solid 3Q results despite a very difficult supply chain environment and should be digested well by investors,” Wedbush Securities analyst Dan Ives said in a Tuesday note. “Total revenue of $41.9 billion was roughly in-line with the Street while impressively Adjusted EBIT was $4.3 billion vs the Street at $3.7 billion.” Wall Street reacted favourably to the automaker’s earnings report, with GM stock up nearly 2.5% in midmorning trading in New York. The Detroit automaker is still aiming to meet its projected guidance of net income between $9.6 billion and $11.2 billion, and adjusted pre-tax earnings of between $13 billion and $15 billion for the year. For the year so far, GM has made $7.9 billion, down from the $8.3 billion it had this time last year. “We’re delivering on our commitments and affirming our full-year guidance despite a challenging environment because demand continues to be strong for GM products and we are actively managing the headwinds we face,” GM CEO Mary Barra wrote in a letter to shareholders on Tuesday. On a call with media Tuesday, GM Chief Financial Officer Paul Jacobson said the company hasn’t seen “any direct impact on our products” from economic headwinds. GM’s average transaction price was $51,911 in the third quarter, according to Cox Automotive. By comparison, the automaker’s ATP was $40,053 in the third quarter of 2017. Earlier this month, GM reported its U.S. dealers sold 555,580 vehicles in the third quarter, up 24% from last year as inventory levels improved and demand remained strong despite rising interest rates. 2. Magna International, Inc. Magna International Inc. is a Canadian parts manufacturer for automakers. It is one of the largest companies in Canada. Magna has over 158,000 employees in 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries News : The Michigan Strategic Fund board approved Tuesday a total $10.2 million in state program grants for Magna International Inc. as the automotive supplier seeks to expand its footprint in Michigan and create more than 1,500 jobs. Companies under Magna International, Inc. applied for two new Michigan Business Development Program grants for projects in Highland Park and Shelby Township as well as additional grant funding for its facility in St. Clair, according to the Michigan Economic Development Corporation. “The board’s support of these investments will build on our efforts to position Michigan as a home for Magna and a continued leader in the future of mobility and vehicle electrification,” Quentin Messer Jr., CEO of the MEDC, said Tuesday. Michigan is Magna’s U.S. corporate home. Magna operates 35 facilities in Michigan, making it the state with its largest footprint. The company employs more than 10,000 Michigan residents, officials said. The MSF board approved Tuesday a $2.9 million grant for Magna Seating of America Inc.’s plan to lease a 114,000-square-foot seating facility at 12240 Oakland Blvd. in Highland Park. The project would create 490 jobs and result in a capital investment of up to $3.77 million, according to an MEDC briefing memo. The MSF board also approved a $1.3 million grant for Magna Powertrain of America Inc.’s plan to lease a 200,000-square-foot facility in the Shelby Commerce Centre in Shelby Township. The project would create 159 jobs and a capital investment of up to $96.17 million, according to the MEDC. The board approved for the project a 50% alternative state essential services assessment exemption valued at up to $369,837 for five years for its $81.7 million eligible investment. In St. Clair, the MSF board approved an increase in previously awarded Michigan Business Development Program grant funding from $1.5 million to $7.5 million. Magna Electric Vehicle Structures expects to employ 1,224, up from a previously announced 304 jobs for its facility at 1811 S. Range Road in St. Clair. The project will result in $196.4 million in investment, up from an originally proposed $70.1 million. Also approved Tuesday was a 100% state essential services assessment for Magna Electric Vehicle Structures for up to fifteen years valued at up to $6.3 million for its $287.6 million eligible investment. 3. Detroit sees record cruise ship activity in 2022 Cruise ships docked in Detroit more than 50 times during the 2022 season, a record and more than double the amount of dockings in Detroit in 2019, the Detroit/Wayne County Port Authority and a coalition of Midwest states, cruise lines and others said Friday. The announcement coincided with the final weekend of cruise ships docking in Detroit. Le Bellot, a cruise ship operated by the French cruise operator Ponant, was docked in Detroit on Friday. Ponant cruises in the Great Lakes go to locations such as Toronto, Mackinac Island and Milwaukee

Cleveland Metroparks announcing major progress on two East Side Cuyahoga County trail and park projects

EUCLID, Ohio — Cleveland Metroparks has been busy in recent years planning and building marquee trails and park amenities along Cleveland’s lakefront, on the city’s West Side, and in southern portions of Cuyahoga County. Now, the regional park agency serving Greater Cleveland has progress to announce on trails and parks on the East Side of the county. Metroparks held a groundbreaking for the first section of a four-phase project to extend the Euclid Creek Greenway north from the southern portion of the Euclid Creek Reservation to the reservation’s northern section, which includes the Euclid Beach, Villa Angela, and Wildwood parks on the Cleveland lakefront. The first phase of construction, along with a planned second phase, will bring the all-purpose trail north to Chardon Road about a quarter mile north of Euclid Avenue by the summer of 2023. The project will include reforestation and enhancements to the 17-acre former site of the Euclid School District’s Central Middle School on the north side of Euclid Avenue, which has reverted to Metroparks’ ownership after decades in which it was owned by the school district. In a second event, October 27 at 10:30 a.m., Metroparks will hold a ribbon cutting marking the completion of the mile-long Eastern Ledge Trail within the Euclid Creek Reservation. The event will take place at the Welsh Woods Picnic Area. The new Eastern Ledge trail provides new access to the southern portion of the Euclid Creek Reservation, where Metroparks added 63 acres in 2019. The $300,000 project includes a new pedestrian bridge over Euclid Creek, connecting the Welsh Woods Picnic Area to the eastern side of the gorge, where an overlook offers panoramic views to the west. The announcements also follow a raft of recently completed or ongoing projects either led by Metroparks or involving the agency as a partner. They include: – The 2021 completion of the $6 million, 2-mile Red Line Greenway on Cleveland’s West Side. The 2021 completion of the $6 million Wendy Park Bridge, joining Wendy Park on Whiskey Island to Cleveland’s Ohio City neighbourhood, plus the associated, $3 million Whiskey Island Trail. – The 2021 completion of the $1.5 million, 25-acre Brighton Park in Old Brooklyn. – The 2021 completion of the five-mile, $54 million section of the Towpath Trail in Cleveland. The project was undertaken in collaboration with Cuyahoga County, the City of Cleveland, the nonprofit Canalway Partners, and NOACA, the Northeast Ohio Areawide Coordinating Agency. – The recent launch of a $5.75 million project to create a shovel-ready design for the CHEERS project, which will add 70 to 80 acres of new parkland on Cleveland’s East Side lakefront. CHEERS stands for Cleveland Harbor Eastern Embayment Resiliency Strategy. Metroparks is undertaking the project with the Port of Cleveland, the City of Cleveland, and other partners. “Building better connections between community amenities including the lake, our parks, and our neighbourhoods has been a priority for the City of Euclid,’’ she said in a statement provided by Metroparks. “We truly appreciate the longstanding partnership and investment by the Cleveland Metroparks.” While building the first two sections of the Euclid Creek Greenway extension, Metroparks will develop a plan to complete the next 1.5 miles in phases III and IV of the project, which will bring the greenway north to the lakefront. In late 2021, Cleveland Metroparks was awarded $950,000 by the U.S. Department of Transportation to advance the planning and design of four trail and bicycle projects on Cleveland’s East Side including phases III and IV of the Euclid Creek Greenway. The continued Metropark’s investment on the East Side of Cleveland is great news for property owners in the surrounding areas. Popular suburbs Global Investments sell in such as such as North Collinwood, South Collinwood, Euclid, Richmond Heights, South Euclid & Cleveland Heights. If you would like more information and may be interesting in Cleveland property investments please email the team at : [email protected]

10 Suburbs in Cleveland to find great investment properties

Cleveland is ranked as one of the best places to buy a rental property this year for investors seeking a balanced blend of cash flow and appreciation. Home values have increased nearly 23% year over year as of December 2021, according to Zillow, and many of the best neighbourhoods in Cleveland have more residents who rent rather than own. Although Cleveland used to be known as a manufacturing town, the economy has evolved into a well-balanced blend of high-tech, service, and blue- and white-collar employment. Home prices in Cleveland have increased by nearly 23% over the past year, which may be one reason more people rent than own in many neighbourhoods. In popular neighbourhoods, such as Downtown Cleveland, over 90% of homes are occupied by renters. Although housing prices have increased, popular neighbourhoods like North Collinwood and South Broadway still have median home sale prices of less than $100,000. A recent study by the Cleveland Foundation revealed that Cleveland has a fast growing population, including recent graduates. According to Zumper (as of February 2022), 55% of the housing units in Cleveland are renter-occupied, with rents for 3-bedroom homes up 12% year over year. Cleveland is home to over 2 million residents living in 40 neighbourhoods, so it can be difficult to know where to look first. To ease your search, Global Investments have listed 10 of the most popular suburbs of Cleveland that investors should seriously consider when properties become available. Specific data on each neighbourhood comes from Realtor.com, Niche.com, and Redfin as of December 2021 : Old Brooklyn Located south of Downtown Cleveland, Old Brooklyn is a highly ranked good neighbourhood for investors. The neighbourhood a very desirable area in Cleveland where new construction single family homes fetch over $400,000 Old Brooklyn’s most notable landmark, the Cleveland Metroparks Zoo is a 145-acre park and is one of the 16 nature preserve reservations of the Cleveland Metroparks system. Population : 32,813 Median sale price : $133,500 Change in sales price (year over year) : up 11.3% Renter-occupied households : 44% Median household income : $41,233 ZIP codes : 44109, 44144, 44134 North Collinwood North Collinwood is a unique Cleveland neighbourhood situated on the shores of Lake Erie. Residents enjoy miles of parks along the lake bluffs, which are adjacent to streets lined with beautiful old homes and charming cottages. North Collinwood’s commercial district has become a burgeoning artists’ colony, with the transformation of Waterloo Road and the growing Waterloo Arts and Entertainment District, a highly demanded area for investors : Population : 16,602 Median sale price : $128,000 Change in sales price (year over year) : up 6.0% Renter-occupied households : 59% Median household income : $31,646 ZIP code : 44110 South Collinwood The South Collinwood neighbourhood is a historical area on the East Side of Cleveland, Ohio. Originally a village in Euclid Township along the lakefront, prices have increased considerably due to the popularity and proximity of North Collinwood : Population : 10,076 Median sale price : $60,000 Change in sales price (year over year) : up 21.4% Renter-occupied households : 62% Median household income : $26,569 ZIP codes : 44110, 44119 Glenville Glenville is a popular neighbourhood on the East Side of Cleveland. To the north, it borders the streetcar suburb of Bratenahl and the Cleveland Memorial Shoreway. Glenville is very popular for renters due to the proximity of The University Circle. With its neighbouring town “ Hough “ Glenville has some of the nicest large detached single family homes available in Cleveland. Population : 14,456 Median sale price : $67,500 Change in sales price (year over year) : up 9.9% Renter-occupied households : 57% Median household income : $31,391 ZIP code : 44108 South Broadway / Slavic Village Located south of the city along I-77, the South Broadway neighbourhoods home prices are relatively affordable, and more residents rent than own. This area has been a hotspot for new build projects. Many houses were abandoned back in 2007 and since then been removed one by one. Capital appreciation in this area has been significant and investors willing to look long term will not be disappointed. Population : 16,415 Median sale price : $71,000 Change in sales price (year over year) : up 34.0% Renter-occupied households : 55% Median household income : $26,986 ZIP codes : 44105, 44109, 44125, 44127 Edgewater Edgewater is located along the lakefront, adjacent to the Detroit-Shoreway neighbourhood and just west of Downtown. Home to Edgewater park which features 9000 feet of shoreline, dog and swim beaches, boat ramps, fishing pier, picnic areas and grills. The neighbourhood is highly rated and has a very high percentage of renters: Population : 8,873 Median home value : $214,400 Change in sales price (year over year) : up 5.4% Renter-occupied households : 73% Median household income : $42,703 ZIP code : 44102 Detroit-Shoreway Located between Edgewater and Ohio City, the Detroit-Shoreway neighbourhood is ranked as one of best neighbourhood in Cleveland and It also has a high percentage of renter-occupied households. The Gordon Square Arts District is the hub of growth in this west Cleveland neighbourhood. life is centred around its anchor building—the Gordon Square Arcade, the cultural and artistic centre of western Cleveland. Population : 16,303 Median sale price : $246,000 Change in sales price (year over year) : up 20.6% Renter-occupied households : 64% Median household income : $32,167 ZIP codes : 44102, 44109, 44113 West Boulevard The West Boulevard neighbourhood is located just south of the I-90/Northwest Freeway, adjacent to the popular Jefferson neighbourhood. Bordering on popular neighbourhoods such as Edgewater, Detroit Shoreway, Clark-Fulton & Brooklyn. The area has a dense urban feel, and is another neighbourhood where more people rent than own. Population : 17,070 Median sale price : $108,000 Change in sales price (year over year) : up 22.0% Renter-occupied households : 54% Median household income : $35,441 ZIP codes : 44102, 44111 Mount Pleasant Mount Pleasant is a neighbourhood on the East Side of Cleveland, Ohio. It borders the neighbourhoods of Buckeye–Shaker

The time to Invest is NOW – take advantage while its a buyers market

Over recent years we have wrote several articles on the US housing market and how the market was viewed as a Sellers market. This impacted the availability of inventory and we seen price increases across several States in the US, especially on the West Coast. Now we see something is changing with the market and it looks like we could be entering into a Buyers market, we have seen serval indicators of this in the last few months. Over recent years we have seen mortgage rates hitting decade’s highs as the Federal Reserve has been hiking up its policy rates. The National Association of Realtors have said it is no surprise that the slow down of the market would be inevitable. Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting quoted “If we’re right, nationally we’ve already entered the early stages of a buyer’s market. Should supply levels cross above five months we’ll be watching for flat, possibly declining resale prices in some markets, especially where affordability is already very stretched.So the beginnings of the buyer’s market arrived gingerly at around April or May this year based on national numbers. Goldman Sachs have quoted that the US bank expect prices to decelerate for the remainder of this year and then level off sometime next year, not because demand is falling but because mortgage rates are so high, demand is still very high. This situation causes a bit of dilemma for US house Buyers as they may predict that prices will fall in the coming months but then again will mortgage rates go up again ? And how sure are we that prices will fall if demand is so high and inventory is still restricted ? The higher mortgage rates have no doubt put added pressure and frustration on Buyers. On top of increased mortgage rates and uncertainty about the prices, US Buyers are also facing competition from Overseas, buyers from other countries purchased $59 billion worth of US homes in the last 12 months and 44% of them paid in cash and did not need a mortgage. But if the market is cooling down the plus side for Buyers is that overall it gives them some leverage when it comes to negotiating, multiple bids on the same property is not as common as it was 12 months ago. According to a Redfin report published this week, which showed nearly 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June. That’s the first time the bidding war rate has been below 50% in almost two years. The only time we really see prices going above the list price is when there are bidding war. Daryl Fairweather, Redfin’s chief economist stated “And we’re back to a place where bidding wars are unusual, not the norm.” But this does not mean we are going to see a crash, Fitch Ratings Rating Agency have stated “some regional home price corrections” in overheated areas. “Despite the prospects of a home price correction, Fitch deems a housing market crash akin to the Great Financial Crisis highly unlikely,” the company said. “The main reasons are because housing inventory is still constrained, and existing homeowners who have benefited from low mortgage rates are unlikely to sell their properties.” Matthew Pointon, senior property economist at Capital Economics, stated in June that he now projects home prices to fall about 5 percent by mid-2023. So if there is a 5% fall in prices does this mean its a Buyers market, not necessarily but it does mean Buyers are in a stronger position now than they were 12 months ago, there is the possibility of some price negotiating but buyers will need to act when sellers agree to these price reductions as no one knows when this situation can change again. The other factor is the rental market, if sales slow down that means the rental pool starts to dry up, therefore we could see increased rents in several cities. The prospect of increased rents is attractive to Overseas investors and therefore they start pushing the demand again and also the overall return on investment etc. The overall consensus you could take is that house prices have pushed the boundaries of affordability but a boom should not end with a bust. This is a great time to enter US housing market with more properties available than 12 months ago and more realistic pricing. As you can seed from our pricing Global Investments Inc have already started negotiating and getting sellers down on their prices. Get in touch now if you would like us to send you our current discounted inventory… Email [email protected]

Si pago la tarifa de honorarios y el depósito, ¿estoy 100% comprometido a realizar la compra?

Una gran pregunta que ha surgido recientemente por parte de muchos de nuestros inversores es: “Cuando pago mi depósito a la Compañía de títulos y la tarifa de honorarios a Global Investments, ¿estoy 100% comprometido a cerrar la propiedad específica que he reservado?”. Le pedimos a Mike Moodie, Director ejecutivo de Global Investments INC, que ampliara esta pregunta y aclare exactamente cómo funciona el sistema. ” Absolutamente no. A pesar de que el cliente se haya comprometido a comprar y abonado su depósito en garantía y la tarifa a Global Investments Inc., estos dos pagos son solo para sacar la propiedad del mercado. Luego, pasamos al contrato y a la fase de inspección. El Inversionista debe ser consciente de que cualquier contrato siempre está sujeto a nuestro propio proceso de debida diligencia e inspección”. “Una vez se firma la reserva y el contrato, hay 10 días para realizar una inspección independiente completa. En este momento, se verifican los principales elementos de la propiedad: techo, cimentación, electricidad, plomería y también revisamos cualquier movimiento estructural. Si por alguna razón no el cliente no está satisfecho con el reporte de inspección, simplemente podemos cancelar la venta y los fondos pagados son totalmente transferibles a una propiedad alternativa de su elección. Esta situación es poco habitual dado que nuestros proveedores nos brindan excelentes propiedades. Es decir que normalmente, como sucede con cualquier casa alquilada, la inspección puede revelar elementos menores de mantenimiento. Una vez que estemos satisfechos con el estado de la casa y sus elementos principales, le pediremos al vendedor que se ocupe de reparar cualquier elemento que surja de la inspección antes del cierre. Entonces, la respuesta fácil a esta pregunta es que si el inversionista ha decidido comprometerse a reservar una propiedad específica, no está comprometido a cerrar esa propiedad hasta que la revisemos y estemos satisfechos con la inspección de la propiedad. Sí están comprometidos a comprar una propiedad en los EE. UU. si por cualquier motivo decidimos cancelar la primera reserva. En este punto, el equipo de Global Investments Inc comenzará a trabajar con el equipo de Adquisiciones y encontrará una propiedad de reemplazo que sea más adecuada para el inversionista”. Entonces, si un cliente está 100 % comprometido y ha tomado la decisión de invertir en los EE. UU., mi consejo es que elija una propiedad y comience el proceso sabiendo que Global Investments Inc hará todas las verificaciones necesarias antes del cierre. Sin embargo, si hay alguna duda o no están 100% comprometidos a invertir en los EE. UU., mi consejo sería esperar hasta que hayan respondido todas sus inquietudes y cuando lleguen al punto en que estén 100% comprometidos, entonces podemos comenzar el proceso”. Mike Moodie CEO de Global Investments Inc.

The BIG Question ???

“ If I pay my fee and Deposit am I 100% committed to the purchase “ A Big question that has come up recently from many of our investors is “ When I pay my deposit to the Title Company and my fee to Global Investments am I 100% committed to close on the specific property I have reserved ? “ We asked Mike Moodie the CEO of Global Investments INC to expand on this question and clarify exactly how this works etc.? “ Absolutely not…. Even though the client client has committed to purchasing and has paid their Ernest Money Deposit and fee to Global Investments Inc. These two payments are only to take the property off the market and then we go to contract and then the inspection phase. The Investor must be aware that any contract is always subject to our own due diligence and inspection process. “ “ Once we sign the reservation and contract we have 10 days to carry out a full independent inspection. This is where we would check the main fundamental items in the property. Roof, foundation, electric, plumbing and also we check for any structural movement. If for whatever reason we don’t like something in the inspection we can simply cancel the sale and any funds paid are fully transferable to an alternative property of their choice. ( This its very rare as our suppliers give us excellent properties. ) Saying that normally like with any tenanted house the inspection can bring up minor maintenance items. Once we are happy that the house is in good standing and all the main items are fine we would ask the seller to take care of any maintenance items that are brought up by the inspection before we close. “ So the easy answer to this question is that if the investor has decided to commit to reserving a specific property they are not committed to close on that that property until we review and are happy with the property inspection etc. Yes they are committed to buy a property in the US if for whatever reason we decide to cancel the first reservation. At this point the team at Global Investments Inc will start working with the Acquisitions team and find a replacement property that is more suitable for the investor “ So if a client is 100% committed and has made the decision that they want to invest in the US then my advice is to choose a property and start the process with the knowledge that Global Investments Inc will do all the necessary checks before we close. However if there are any doubts or they are not 100% committed to investing in the US then my advice would be wait until they have all their questions answered and at the point they are 100% committed then we can start the process. “ Mike Moodie CEO at Global Investments Inc.