PARMA HEIGHTS OHIO MARKET REPORT 2007 VS. 2008 FINAL NUMBERS
Greetings,
There is no question that it has been a challenging year in real estate, and 2009 will be plagued with many of the same problems i.e. short sales, foreclosures, financing difficulties , and appraisals that fall short of the purchase price, BUT HOMES DID SELL IN 2008 AND THEY WILL SELL IN 2009.
Sellers must make pricing their home CORRECTLY a top priority. In 2008, we saw asking prices vary widely as it was difficult for many sellers to accept the downturn in the market. THE HOMES THAT SOLD WERE THE ONES WITH REALISTIC PRICES. THE FACTS THAT MATTER WHEN PRICING YOUR HOME ARE THE SELLING PRICES OF OTHER HOMES IN YOUR AREA, followed by condition and location.
Below is a chart that shows CLOSED homes in Parma Heights, Ohio through the multiple listing service in 2007 vs. 2008.
Throughout most of 2008, the number of sales were less than in 2007 and I think this can be attributed to the large number of short sales and foreclosed homes.The downturn we have experienced can also be attributed to the tightening of the mortage belts, sellers staying put instead of downsizing or upsizing, buyers not buying over fear of losing their jobs, just to name a few. EVEN SO IT'S NOT ENTIRELY DOOM AND GLOOM OUT THERE!
PRICING IS EVERYTHING. IN FACT IT IS CRITICAL IF YOU WANT TO SELL YOUR HOME. FIND AN AGENT WHO WILL GIVE YOU AN ACCURATE LISTING PRICE EVEN IF IT IS NOT THE PRICE YOU WERE HOPING FOR.
YOU'LL WANT TO VISIT PARMA HEIGHTS TO LEARN MORE ABOUT THE SENIOR CENTER, INCOME TAX, AND THE HUMAN SERVICES DEPARTMENT.
If you would like to buy or sell a home in Parma Heights Ohio please contact Barb Szabo. I would be delighted to speak with you.
Regards,
Barb