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The Virtual Investor – Is this future of US Real Estate ?

We are all facing a time of economic uncertainty, builders have ceased working on sites across the US and US cities have gone into lockdown. All forms of work have virtually stopped and new stringent measures makes us adopt a more cautious approach when it comes to investment. There is no denying that the current global situation is having an impact on the US housing market but the scale and size of this impact has yet to be ascertained. If we take the last week of March as an indicator we can see that the number of newly-listed properties fell by 13.1% and 34% respectively when compared with the same period a year ago. This is an indication that some Sellers may be holding off on listing their properties right now afraid they may take a hit due to the current market conditions. During this period we have also seen that house prices did not rise but more or less stayed level as compared to this time last year according to realtor.com there is no doubt that the current situation is disrupting the normal momentum we see in the US housing market. Claims of mass unemployment and a foreclosure crisis may keep some investors on the side line but one key difference now as compared to the 2000s is the housing market stock levels, the US housing market is now not over-built. Mark Fleming, Chief Economist for Title Insurance Company First American Financial Corporation has worded it very well “While housing led the recession in 2008-2009, this time it may be poised to bring us out of it,” Rising home values and stricter lending standards have also meant that homeowners are sitting on historically high amounts of home equity as compared to 2000s, that is because before this current global situation the US housing market was on a very strong footing, we do not have to make mass gains to get us back to where we were. Due to the lockdown we all have more time to surf the web and dig a little deeper into areas of interest, we can now spend more time building our knowledge studying how certain markets work and listen to what other people are saying. In recent weeks we have seen a surge in online courses and activities as people try out new things. In the US we have seen many people trying their hand at buying and selling properties to make a profit in anticipation of an economic downturn, which is impacting the inventory levels. There is no doubt that the housing market will not come out of this unscathed but some investors are seeing this current market condition as an opportunity, they label themselves the iBuyers. iBuyers are individuals that purchase homes outright from doing their own research on the web, they are looking at the properties age, condition, and zip code some of them even use mathematical algorithms, the iBuyer predicts the home’s future value, with the hope to eventually list them on the open market or sell them for a profit. While this does seem appealing especially since we all have more times on our hands we do need to take into consideration the cons of going it alone. iBuyers have to make a profit, and to do that, they can’t offer sellers full market price for their homes. This typically means sellers get significantly less for their home than they would if they used traditional methods. iBuyers also need to cover repairs and maintenance in order to make the home marketable. These expenses can severely impact the potential to make any profit. The other risk for iBuyers is being unable to resell the property quickly enough, having costs can add up, they might have ended up buying a property that is different to what they originally thought. The convenience of iBuyers is definitely intriguing. However, it seems like the overall cost of this convenience will need to come down before it becomes consumer-friendly and more mainstream to investors. Our advice is to trust the experts, years of experience and a solid network of trusted suppliers lessens the likelihoods of entering stormy uncharted waters. As a company we always do extensive due diligence on every property we list, we are currently pushing our suppliers to provide us with properties just below market value, to give us all a little bit of room should the market drop slightly. Our purchasing power enables us to get the best deals for our clients given the current environment, going it alone as an iBuyer is not always the right decision. We are also working hard to expand our inventory of Section 8 and other assisted income properties as these are seen as a very appealing investment in this current market. Like other US Real estate companies we are adjusting to the current changes, safety of our staff is paramount so we also have adapted to working at home, carrying out virtual tours, using teleconferencing platforms and working with authorities in relation to their guidelines and advice. It is the same with the Partners we work with, from the management companies to the title companies, they too have adapted to this new environment while maintaining the same level of service they have always provided. We think our new inventory is better than ever, very reasonably priced properties from the top suppliers in the US. This current situation will end one day and the market will come back strong, there is no doubt prices will rise in the future far beyond what they are today. If you would like to see our latest inventory please email [email protected]

The Cleveland Clinic, things you didn’t know and how the brand is putting Cleveland on the Global map.

Located in Cleveland, Ohio, Cleveland Clinic is a nonprofit, multi-specialty academic medical centre that integrates clinical and hospital care with research and education. Today, with nearly 1,300 beds on Cleveland Clinic main campus and 6,026 beds system-wide, Cleveland Clinic provides safer care for more people in more places than ever before. Owned and operated by the Cleveland Clinic Foundation, an Ohio nonprofit corporation established in 1921, it runs a 170 acre campus in Cleveland, as well as 11 regional hospitals and 19 family health centres in northeast Ohio, and hospitals in Florida and Nevada. Outside the United States, Cleveland Clinic also operates the Cleveland Clinic Abu Dhabi hospital and a sports medicine clinic in Toronto. Cleveland Clinic is consistently ranked as one of the best hospitals in the United States. In 2018-2019, the U.S. News & World Report ranked Cleveland Clinic as the number 2 hospital in the Best Hospitals Honor Roll, as it was nationally ranked in 14 adult and 10 paediatric specialties. Cleveland Clinic’s cardiology program has ranked No. 1 in the nation since 1995. Cleveland Clinic patents & innovation : Cleveland Clinic, the renowned hospital and medical research centre is also entering the venture capital business, in a manner of speaking. To be sure, Cleveland Clinic is a nonprofit organisation. But it’s a well-heeled one, with more than $12 billion in assets, according to its most recent financials. What’s more, the organisation has always been savvy about the intellectual property and innovation potential residing under its roof. Since 2000, when it launched its Cleveland Clinic Innovations division, CCI has secured more than 660 patents and spun off 76 companies. CCI investing $500,000 of its own cash into Tatara Vascular, a startup which makes a coronary guide wire. Combined with $1 million in investment from partners operating under CCI’s umbrella in the project, the total investment has reached $1.5 million. The Cleveland Clinic Global Brand : Currently, more than half of Cleveland Clinic’s patients come to its main campus from outside Ohio. To grow these numbers, and to increase the organisation’s name recognition and national presence, Cleveland Clinic has undertaken a national marketing campaign. This has involved strengthening the Cleveland Clinic brand across all of its facilities, turning the organisation from a local medical centre to a nationally-recognised brand of healthcare. Along with robust branding efforts, Cleveland Clinic has led the way in measuring and publicising its outcomes. This has helped it land bundled payment arrangements with some of the country’s largest employers, such as home improvement giant Lowe’s, based in Mooresville, N.C., and Chicago-based Boeing, which sought top quality for employees’ more expensive and invasive procedures, such as heart surgery. Globally, the Clinic is building a seven-story, 185,000-square-foot cancer centre at Cleveland Clinic Abu Dhabi, which is scheduled to open in 2022. They are also building Cleveland Clinic London, a 200-bed facility near Buckingham Palace, set to open in spring 2021. Cleveland Clinic is also working with Luye Medical Group on the Shanghai Luye Lilan Hospital in Shanghai, China. The new hospital, set to open to patients in 2024, is the first project by Cleveland Clinic Connected, an international affiliation program the Cleveland-based system launched. Cleveland Clinic, A Vital Local Economic Force : Economic and Fiscal Impact reports shows that by fulfilling its mission, Cleveland Clinic also serves as a powerful economic engine in the communities it serves. As the largest employer in Northeast Ohio and the second largest in Ohio, Cleveland Clinic has made significant contributions to the state and local economies, totalling $17.8 billion in 2016. The activities of Cleveland Clinic also supported more than 119,000 Ohio jobs, representing more than $7.5 billion in total earnings. Cleveland Clinic Florida, one of the largest employers in Broward County, had a total economic output of up to $1.2 billion, including 7,450 jobs and $426 million in wages and benefits. Cleveland Clinic Student Housing program : Obviously hundreds of Students attend The Cleveland Clinic every year and the Clinic provides On-campus housing. This housing is available only for medical students enrolled in their elective program. The bed rate is $500 per student and the accommodation includes a double-occupancy room, refrigerator, microwave and shared bathroom. So for 2 students $1,000 for one room. For this reason many students and also employees elect to find alternative private rental accommodation in the local areas such as Hough, Fairfax, Glenville, St Clair Superior, and Mt Pleasant. This enables students and Clinic employees to find much larger accommodation and also at cheaper expense. Cleveland Clinic actually works with reputable local Real Estate companies and has an alternative student housing program to help students arrange their housing needs. Whether it’s for the short term (up to one year) or long term (one to five years), Cleveland Clinic helps find housing accommodation in the surrounding area. The property has to be reviewed and meet certain standards, very much like the Section 8 standards. The rental contract is between the student and the rental agent. So if you are a future student on The Cleveland Clinic, Ohio or will be shortly moving to Cleveland to work at the Cleveland Clinic and you need quality rental accommodation then contact Global Investments today. A special thank You : On a last note we must give thanks for the great work Cleveland Clinic are doing in the fight with the current Global Covid 19 crisis, leading the way in providing urgently needed testing, please see the following link from the Daily Mail online as of today April 2nd : https://www.dailymail.co.uk/health/article-8104803/Top-hospital-Cleveland-Clinic-develops-coronavirus-test-deliver-results-EIGHT-HOURS.html

2020 Guide to St. Louis Real Estate

Nestled on the banks of the Mighty Mississippi River sits the vibrant gateway to the West, St. Louis. Known for beer, barbecue, and the Blues, this town boasts the kind of appeal that makes it an ideal real estate investment market. With a growing population working in the tech and creative sectors, and anchored by established brands like Anheuser-Busch, Boeing, and Emerson Electric, St. Louis seamlessly blends the new economy with powerhouse Fortune 500 entities. All of those companies translate into a highly skilled and educated workforce with money to spend. We’ve put together your guide to the St. Louis real estate market, including both the current investment scene and future potential over the next year. You may just find that St. Louis is exactly the growth opportunity you’ve been looking for. Global Investments have noticed many similarities in St. Louis that has made the Cleveland market in the last few years extremely strong for Real Estate investment. An influx of creative and tech workers fleeing the more expensive coastal cities will translate into steady growth for the Saint Louis metro area over the next several years. This increase, along with new corporate campuses in the city centre, is expected to result in a significant rental market and increasing property appreciation. With high home prices keeping investors out of markets all over the US, the St. Louis housing market remains one of the more affordable cities in the country. Like Cleveland Ohio, here you can get a single family or multi family home for well under the national average, translating into solid ROI Obviously price is important however one of the main reasons Global Investments are recommending St Louis as the next “ Cleveland” is the strong rental market. Again we have noticed many similarities in these two cities that result in a good rental stability. There is a changing nature of Millennials when it comes to renting rather than owning which is increasing the rental demand in the city, we covered this in a previous Cleveland blog last year : Rental market in Cleveland and Baltimore gets even stronger Cleveland has the University Circle but St Louis also has a reputation as one of the country’s best markets for recent college graduates. St. Louis promises to be a winner with young, educated professionals with high income potential. The growth of the tech and biotech industries here, alongside the already-established corporate infrastructure, offers an appealing place for these Millennial and Gen-Z graduates to put down roots. As development continues to expand throughout the city’s central corridor, many of these young professionals will delay home buying in order to decide which part of the city they want to settle in. Along with their natural tendency to delay marriage, home purchases, and other major life changes, this means a growing group of potential tenants and the rental market in general. The large university population here is another large market predominantly made up of renters. With almost 20 colleges and universities located in and around the city, there is a perpetual need for quality rental housing. Future projects and investment in the City There are also many projects in the pipeline for the city of St Louis that will certainly increase its popularity and increase the house prices which is great for investors looking for capital appreciation. Here is just a few to mention : St. Louis Aquarium The much-anticipated aquarium, slated to open inside Union Station next month, will be home to more than 13,000 aquatic animals, including 60 sharks and rays. The $187 million project also includes the new 200-foot St. Louis Wheel, a carousel, an 18-hole mini-golf course, a mirror maze, a ropes course, a train park, and several restaurants. The project created 500 construction jobs and is expected to bring more than 100 permanent positions. NGA West The $1.7 billion project is the largest federal investment project in St. Louis history. Managed by the National Geospatial-Intelligence Agency, the U.S. Army Corps of Engineers, and the U.S. Air Force, the 97-acre campus in North St. Louis is being called a game-changer for the intelligence community. Slated to be operational in 2025, it will feature a 712,000-square-foot office building with a garage, visitor centre, and inspection facility. Square The company, founded by St. Louis natives Jack Dorsey and Jim McKelvey, will relocate its St. Louis offices from Cortex to the former 235,000-square-foot St. Louis Post-Dispatch headquarters downtown. The move will allow the tech company to expand its workforce from 500 people to as many as 1,400. City Foundry Set to open next summer across from IKEA in Midtown, the $220 million project is transforming the former Century Electric Company site into an entertainment destination, including a food hall featuring 20 kitchens, a bar, and 500 seats. Fresh Thyme grocery plans to open its seventh local store on site, and Alamo Drafthouse Cinema will offer a unique theatre experience. Major League Soccer Stadium Located just west of Union Station, the proposed modern stadium will house St. Louis’ forthcoming MLS team. The partially covered sports facility will seat 22,500–25,500 visitors, with entrances on all four sides and an angular canopy—constructed of translucent material that’ll allow light to pass through—to protect fans from the elements. Armory District The historic Armory building was once home to the 138th Infantry of the Missouri National Guard, years before hosting tennis championships and legendary concerts. Soon, the space will find new life, thanks to a $47.1 million overhaul yielding 250,000 square feet of creative office space, a restaurant, and a greenway path connection. Ballpark Village Phase 2 The slogan for the downtown development’s $260 million second phase: “We’re bringing the village to Ballpark Village.” The project includes the Live! by Loews hotel, a Class A office building, retail, restaurant, and entertainment space, and a 29-story high-rise luxury residential tower, One Cardinal Way, scheduled for completion in 2020. The project is expected to create 1,500 construction jobs and 1,000 permanent jobs. So if you are interested in learning

The many ways to enjoy Christmas in Cleveland

The jewel in Ohio’s crown has a huge amount of festive fun to offer this December. From lights and shows to music and skating, there’s something for everyone to enjoy this holiday season in Cleveland. Here are our top picks for the 6 best things to do this Christmas in Cleveland. GLOW at Cleveland Botanical Gardens The Cleveland Botanical Gardens are one of Cleveland’s highlights no matter the time of year, but at Christmas the gardens really shine – literally. GLOW is a stunning holiday lights festival which features gingerbread houses, decorated trees, crafts and more. Wild Winter Lights at Cleveland Metroparks Zoo After a several-year absence, the winter lights display is back at Cleveland Metroparks Zoo this year. This exciting wonderland includes several interactive zones like Snow Safari, A-Roar-A Borealis and a light show Waterfowl Lake. A Christmas Carol at Great Lakes Theater Christmas wouldn’t be complete without taking in a festive show, and there are plenty of fantastic options in Cleveland. Dickens’s classic Christmas ghost story is being shown at the Great Lakes Theater, but you can also catch A Christmas Story at Cleveland Play House, The Nutcracker at Hanna Theater and White Christmas at KeyBank State Theater. The Festival of Trees The Allen Theatre at Playhouse Square hosts its Festival of Trees annually, and this year is no exception. Once again, the impressive lobby will be filled with more than 25 Christmas trees sponsored by various local organisations and elaborately decorated by local artists. Christmas Concert by the Cleveland Orchestra What’s Christmas without a little music? The incredibly talented Cleveland Orchestra are performing their iconic Christmas Concert at Severance Hall this month. Running right through to 22nd December, the Orchestra will be led by conductor, Richard Kaufman, and joined by a number of guest choruses – including the Blossom Festival Chorus and Cleveland State University Chorale. Cleveland Foundation Skating Rink At this time of year, there are plenty of great outdoor ice rinks in and around the city, but the largest rink each year is the Cleveland Foundation Skating Rink located in Public Square. This is a great place for families to gather and indulge in a day of fun over the Christmas period. With so much to see and do in Cleveland over the festive season, it’s no surprise that the city is becoming an increasingly popular place to live and work. With a rental market going from strength to strength, now could be the perfect time for you to invest. Get in touch today to find out about the incredible investment opportunities currently available in and around the city.

A BIG 2020 IN STORE FOR DETROIT

Detroit as a city has seen huge developments over the last 6 years. Downtown has been transformed, international hotels and stores have opened, a new rail system, a new stadium, a new shopping mall, the list goes on and on. So is the development now finished and is Detroit back to its former glory? There’s no denying that Detroit is on the up and still pushing ahead. In fact, we can expect many more developments over the coming years as it stakes its claim as the beacon city of the Mid West America. At least $3.4 billion in construction projects are currently underway in downtown alone, while another $877 million is being spent in Midtown; $389 million in the New Center; and $353 million in the central business district. That’s $5.1 billion altogether. According to the latest reports, this capital investment will generate 6,000 new apartment units, 1,200 hotel units, and 2.1 million square feet of new office space. Many young professionals are opting to live downtown over the suburbs, as the population in Greater Downtown (including Midtown, Corktown) continues to grow. CNN recently ran an article that aptly summarises the city’s recovery: “Six years after Detroit filed for the largest municipal bankruptcy in US history, the Motor City is roaring back to life, Detroit’s rebound is one of the most underrated stories in the nation.” The revitalisation of Detroit was spearheaded by Quicken Loans’ billionaire founder Dan Gilbert. He has transformed the downtown core, Gilbert’s network of companies employs 17,000 people in Detroit. Since 2009, Gilbert has pumped $5.6 billion into downtown Detroit – his own and borrowed money –and now owns more than 100 buildings in the 7.2-square-mile center. There are so many new developments taking place in Detroit it is hard to choose just a few to mention! But here are some examples of what we can expect in the coming years: Fitzgerald Revitalization Project – This is the most ambitious neighborhood project the City has undertaken. Fitzgerald is near the University of Detroit Mercy and is surrounded by some of the best school and universities in the whole of Detroit. This neighborhood has hundreds of beautiful brick properties and a boatload of character but is in need of rejuvenation. There are big plans for new parks, landscaped pathways, new street lighting, new roads and other developments to get this area back to its former glory. 2. Gordie Howe International Bridge – This is a new bridge that will connect the USA with Canada. It is named after Canadian-born, Detroit Red Wings legend Gordie Howe and will be 1.6 miles long, costing an estimated $5.7 billion. 3. Michigan Central Station – In the next three-to-four years, Ford Motor Company will build a campus for mobility in Corktown at an estimated cost of $740 million. The campus will include the old DPS Book Depository, renovated into offices, retail, and residential, and the renovation of the long-vacant Michigan Central Station. 4. The Mid – The Mid will be the biggest development in Detroit north of Mack Avenue since the 1920s. Initial plans call for a 25-story, 228-room hotel with luxury condos making up the top nine floors; a 30-story mixed-use, multi-family development with 250 apartments and first-floor retail; and a 12-story building with “co-living” spaces. 5. Hudson’s site – The new Hudson’s will total approximately 1,000,000 square feet (not including underground parking for 700 cars), with 330 residential units and 240,000 square feet of office space at a cost of over $900 million. 6 . The Monroe Blocks – Covering the area between Campus Martius and Randolph along Monroe, the project as initially announced would add a 35-story office tower plus residential at a cost of $830 million. 7. Fiat Chrysler Plants – At the Connor Creek Industrial Center, the automobile company will spend $1.6 billion converting its Mack Avenue Engine Complex to produce next generation Jeeps, and $900 million to retool the Jefferson North Assembly Plant. It estimates that these upgrades will bring 5,000 new jobs to Detroit. 8. East Riverfront – The Riverfront is already a popular destination in Detroit, but numerous projects will make it more accessible and attractive to visitors. Expect redevelopment of vacant warehouses and land, increased residential and retail, streetscaping along Jefferson Avenue, a new greenway, an urban beach, and the Riverwalk extending to Belle Isle. These are just a snippet of some of the new developments taking place in the every changing city of Detroit, so much progress has been made. All of these changes have had a positive impact on the housing market, as we have seen that property prices have risen in the last six years.The Detroit metro area has experienced year-on-year increases in employment every month since June 2010 so this has pushed up the rental market. When Realtor.com released their list of the US hottest property markets, Detroit came among the top 20 and, according to Zillow, whilst house prices have continued to grow since 2011 they are still a huge way of their historic norms. This suggests that there is still significant space for growth and the possibility for property appreciation to continue for some time. If you would like to see our latest Detroit inventory please email [email protected]

Ford to invest $1 billion in Avon Lake, Cleveland Plants

CLEVELAND, Ohio — Ford Motor Co. has committed to investing $1 billion in two Greater Cleveland manufacturing plants. It is to invest $900 million in a new product line and other improvements at the Ohio Assembly Plant in Avon Lake. A further $125 million will also be spent on continuing upgrades at Ford’s Cleveland Engine Plant in Brook Park as part of a contract tentative agreement with the United Auto Workers. The auto giant’s plans are set to add 1,500 jobs at the Ford Ohio Assembly Plant, according to Avon Lake Mayor Greg Zilka. “We are pleased that Ford, the State of Ohio, Team NEO, the UAW and the City of Avon Lake have built such a positive working relationship,” Zilka said in a prepared statement. Under the new UAW agreement, the plant will add another vehicle to its manufacturing roster by 2023, which the new workers will help build. Right now, the assembly plant makes F-650/750 Medium Duty Trucks, F-350/450/550 Super Duty Chassis Cabs, E-Series Cutaways and stripped chassis. About 1,740 employees work at the plant, and roughly 1,600 are hourly employees. Ford also plans to add $150 million in upgrades to its Cleveland Engine Plant in Brook Park. “One thing people don’t realize is that we are going to benefit from the trades union people building the facility well before it is open,” Zilka said. “That is a shot in the arm for our City of Avon Lake, as well. Our understanding is that they will either add on to the very large facility they have now or possibly it could be a stand-alone building on the campus. We don’t have that information yet.” But one thing is known: the city will economically benefit from the expansion. He said that while the plant includes parts of Sheffield Lake and Sheffield Village, “the vast majority” of it is in Avon Lake. The mayor said the school district, which receives 80% of local real estate taxes, would benefit from the investment. Zilka said the earliest these taxes would be collected is 2024, but that it is too early to tell the amount. The 1,500 jobs also will generate income tax for Avon Lake. Economic Development Director Ted Esborn said it’s not currently known what that amount will be. However, he said the current 1,700 jobs at the plant contribute much to the city’s coffers. Esborn said the city annually collects $7.5 to $8.5 million in income tax from businesses. “Ford accounts for about 25% of all income tax that Avon Lake receives from businesses, and that’s a roster of over 300 businesses including other large manufacturing employers like PolyOne, Lubrizol, and Thogus,” Esborn wrote in an email. Impact on real estate Unlike other areas of public and private investment, the economic benefits to infrastructure are clear. But not only does investment infrastructure lead to job creation and GDP growth; it also acts as a catalyst, having significant knock-on impact to the surrounding real-estate. City transportation projects, in particular, tend to signal where the next property hot-spot will be. Historically this has been road or rail projects. “The Opportunity Corridor”, which began in 2015, is a boulevard in Cleveland, Ohio, partially open to traffic and partially under construction. The $306 million city investment will connect Interstate 77 and Interstate 490 to the University Circle neighbourhood (the fastest-growing job centre in the region). With these combined investments from Ford and the city of Cleveland (just two recent examples) the short and long term results are sure to be an increase in Economic growth within the city. Economic growth is one of the major factors in Real Estate capital appreciation. Demand for housing is dependent upon income. With higher economic growth and rising incomes, people will be able to spend more on houses, this will increase demand and push up prices. What factors help Ford in this large financial investment decision? The Cleveland area may see its low cost of living finally become a magnet for college graduating techies from its University Circle, alongside other members of what some people call the “creative class.” A new report revealed regions that have or can attract young workers in fields such as engineering, software development and the arts will have the best opportunities to grow their economies. The Cleveland metropolitan area is among a group of large metros with the fastest growth in creative-class workers between 2005 and 2018. Analysis shows Cleveland in fifth place with a 17.3% growth in creative-class workers. Ford understands Cleveland has the correct ingredients in place to attract the workers needed for their expansion. With affordable quality homes and an improving road network and public transport infrastructure, Cleveland’s advantages are now less of a “secret” to young professionals seeking an affordable place to start a career. The announcement of Ford’s $1 Billion dollar investment will be very positive news for people that have already invested in Cleveland Real Estate. For those looking to get involved while the prices and ROI are still one of the best in the whole of the USA, call or email Global Investments today.

Construction and development in downtown Cleveland drives the rental market up.

If you drive through downtown Cleveland today you will see cranes dotted across the skyline . Warehouses, derelict buildings and even car lots are being turned into urban chic apartments which are attracting a hefty price tag. ABC News ran an article in August this year covering this topic, they called the article “Vibrant downtown Cleveland neighbourhoods draw new development and rising rents, pricing many people out” The article highlighted the fact the worst-kept secret in Cleveland is that downtown Cleveland is back with a bang. New restaurants , boutique hotels and designer shops have made downtown Cleveland a very attractive place to live but now a very expensive one. Even with new apartment projects popping up all over downtown Cleveland, many of them are being advertised as “luxury living,” but they come with luxury prices. The article also looked at rent comparables for the last seven years, if we look at a one bed/one bath in Downtown Cleveland in 2011 the rent was $820 a month, if we look at the rental market today we can see that this has risen on average to $1,252 per month (this is more than a fifty per cent increase in a number of years) The situation is no better for two bedroom apartments, in 2011 a two bedroom apartment would have rented $1,252 per month but now they are renting for $1,890 per month. The rent levels in Cleveland are starting to come on par like other large US cities like Washington and Seattle. Apart from the all of the new developments taking place another distinguishing factor is the occupancy levels in downtown Cleveland, it is currently running at over 95%. Even with all of these new apartments even when an apartment does become vacant it is snapped up within a number of days. Another interesting point in the article is how Cleveland has marketed itself in the last few years, it has become a beacon of the Mid West for developers and investment by continually pushing its location, people and local enterprises. Large scale developers have used promotional material to sell a lifestyle not just a property, one they believe Cleveland can deliver. But all of this development is great for a nice night out or a busy shopping day but it is not so nice for some people who can not afford the high rent levels anymore. The Downtown Cleveland Residents Association have stated this very fact, they said all of the development is great for the city but no so great if some people can not afford to live there anymore, we don’t want it to be an enclave just for the wealthy. The rising rents in downtown are having a rippling effect in other areas in close proximity to the city, many people who would have lived in the city are now looking further a field to find more reasonable rent levels. Areas like Hough, St Clair Superior, Fairfax, Ashbury Towers, North Broadway are now on the investors radar as these are all a short distance to downtown Cleveland, these areas are seeing increased rental demands and increased rents. Global Investments have exclusive agreements with many US Brokers and Agents with properties in these areas, if you would like to find out more please contact: [email protected]

Global Investments in The Cleveland Cultural Gardens

Global Investments in Downtown Cleveland

This week Shemika gives you a tour of Downtown Cleveland including the Stadium and the Marina, we also get to see some other great attractions Cleveland has to offer.

What should I be paying for my USA Investment Property and how can I be sure I am paying the right price ?

Investing in a buy-to-let property can be hugely rewarding and a sound financial decision. But only if you’re getting the right price and know all the facts. Nobody likes to be overcharged. This is especially true when it comes to big purchases, like a property investment. No matter the current state of the property market, you want to make sure you are paying the right price for your investment property. But the questions is: how do you know what is a good price and whether the likely return on investment is what it is advertised to be ? To help you navigate the tricky world of buy-to-let investments, read this quick guide. What is fair market value? To put it simply, fair market value is the price that a property is expected to sell for on the open market. The term is used frequently in real estate, and has come to reflect the price of a home under the following conditions: Buyers and Sellers are knowledgeable about the property. Buyers and Sellers are free of undue pressure to trade. Buyers and Sellers are given reasonable time to complete the transaction. And, most importantly: The price of the property reflects the standard and condition of the home. At Global Investments we always take the time to establish the true value of a property and the likely returns based on its location, state of repair and current market conditions – all of which is supported by the local agents we work with who have a detailed knowledge of the neighbourhoods. Also we negotiate strong with our Suppliers to try and ensure that our Buyers are actually paying below market value for the majority of our houses. You can always check these prices offered by any agent by performing your own research so that you can evaluate the price of a property and ensure that the investment you are making is a sound one. Look at recently sold properties Seek out properties that have been recently sold and which you can easily compare to your prospective investment. Ideally, this is a property that is similar in size, neighbourhood, condition and amenities. Two 1400-sqaure-foot homes in the same neighbourhood should be listed at similar prices. You can also look at homes that have distinct differences from the buy-to-let you are interested in. Is the property that has caught your attention cheaper than larger properties? Is it more expensive than smaller or less attractive houses? How does it fit with the recent market? Explore comparable properties on the market Don’t just look at properties that have already sold, however. Take the time to visit other homes for sale and get a real sense of how their condition measures up to those of your chosen property. This will help to provide a clearer idea of whether the price you’ve been told is fair. Look at unsold properties Some homes are taken off the market because they didn’t sell. If the price of your chosen home is similar to those of these unsold homes, the property in question may be priced too high. Also, if there are many similar properties on the market, prices should be lower, especially if those properties are currently vacant. Consider market conditions and market appreciation Look at the state of the wider property market. Have prices been going up or down recently? The fairness of a property’s price depends largely on where the market currently sits on the real estate curve. Some research is often required to get an accurate picture of the current market, as it can be difficult to see the overall patterns until they’ve been and gone. Where your home is situated and the future prospects for the local area can have an impact on property pricing. If a town or neighbourhood is set to receive substantial investment with new construction work, new employers and new amenities in the pipeline, there’s a good chance that property prices could be on the increase. Similarly, improving transport links, reputable schools and low crime rates can all give you confidence that your investment will see its value go up rather than down. On the other hand, if local businesses are closing down and the area is slowing, values are more likely to stagnate. Get an expert opinion Thanks to experience, trusted estate agents and investment experts can guide you as to the future prospects of a property. They’ll also be able to get a firmer grip on recent data and prices, so don’t be afraid to ask for help and advice when you need it. The Bottom Line The right investment experts will offer you a fair price for your property investment. Researching around both the company itself and the wider market can help you gain a clearer idea of whether the price you’re paying is in line with the property’s actual value. At Global Investments we always work hard to ensure that the investment opportunities we present to clients represent the best value for money and the highest net returns possible. Get in touch with our friendly, knowledgeable team today and we’ll be happy to offer our advice on the best opportunities in the market today [email protected]