Real Estate in Northern Ohio
Brett Young
216-532-3470216-532-3470

Increasing prices in Real Estate is getting Cleveland Prices back to Pre-Recessin levels

This story comes from http://blog.cleveland.com/ by Northeast Ohio Media Group Marketing Staff

They talk about the 180 degree turnaround in the Cleveland Market.

” The commercial real estate market in Cleveland has experienced a
complete turnaround since 2011, signaling a new surge in opportunity for
businesses looking for property in the area. This remarkable recovery
has led to increased property values, rents and out-of-state
investments.”

 The part I like in that statement is property values.  I am seeing a increase in the wholesale price of homes especially. The inventory is defiantly lower than it was also.  The pressure on this market is starting to happen.  I really have to work hard to find the great deals, but they are still here.

 ”   According to an industry report issued by the National Association for
Industrial and Office Parks (NAIOP), the strong economy is expected to
increase demand for industrial property through 2015, and the industry
will return to pre-Great Recession levels of growth by 2016. In this
healthy market environment, Cleveland, in particular, has experienced
impressive growth. Northeast Ohio Real Estate Source estimates that
property values will increase between four and five percent and rents
will outpace home values by the end of the year.”

 This paragraph talks about the upward values of the commercial market and they fell it will exceed growing home prices by the end of this year. That is a great news as an investor you want to see steady growth in your market.  Residential Real estate in the Cleveland Metro area has had a steady growth! That is what I like 4%-5% is a great rate.  The story goes on to say:

”  According to an industry report issued by the National Association for
Industrial and Office Parks (NAIOP), the strong economy is expected to
increase demand for industrial property through 2015, and the industry
will return to pre-Great Recession levels of growth by 2016. In this
healthy market environment, Cleveland, in particular, has experienced
impressive growth. Northeast Ohio Real Estate Source estimates that
property values will increase between four and five percent and rents
will outpace home values by the end of the year.”

That is exactly what I predicted 6 years ago that Cleveland would become a mecca for the public to see,  With the impressive growth that Cleveland is seeing don’t you think it might be time to get into this market?  Got to go look at some more real estate today! Brett Young Coldwell Banker and Rooftopinvestment.com 

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