U.S. Home Prices Are High On Government Hormones

Credit: Peter Schiff

 

 

 

 

 

 

Solon Ohio Rental Real Estate Properties Occupancy Permit Discussed

Example of a Rental Property Occupancy Permit

A Rental Property Occupancy Permit

A Rental Property Occupancy Permit

Brice Banctel, Kyle Mooney, Leila Sanii, Shuyi Wang of Case Western Reserve University, documented the pros and cons of a Rental Occupancy Permit Program in their study titled, Chagrin Falls, Ohio-A Study on the Impact of High Percentage of Rental Units on the Community.

Pros of Rental Property Occupancy Permit

Having a database of rental units within the community would give the city a snapshot at any point in time of the renters who have to this date not been tracked.  The city will know how many renters exist, where they are living, and how they can be contacted.  If the city wants to contact the renters for any reason, they have the ability to do so.

Cons of Rental Property Occupancy Permit

There will likely be some resistant property owners who reject the idea of an additional fee per unit → continue reading Solon Ohio Rental Real Estate Properties Occupancy Permit Discussed

The double dip recession is certainly here

A few weeks back, United States Federal Reserve Chairman Ben Bernanke stated that the economy is “unusually uncertain”.  This unusually explicit statement from the Chairman is alarming.  And reminiscent of the fascinating Secretary Donald Rumsfeld’s statement:

There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we now know we don’t know. But there are also unknown unknowns. These are things we do not know we don’t know.

A few days ago, John Chambers, CEO of Cisco Systems, a bellwether for technology companies, echoed Bernanke and stated → continue reading The double dip recession is certainly here

Cleveland Foreclosure Auction

cleveland_foreclosure

Cleveland Area Foreclosed Property Auction

Curiosity took me to a real estate auction for properties in foreclosure in Cleveland and Northeast Ohio.  It was held on November 8, 2008 at the Holiday Inn in Strongsville.  I had received an email from Joseph Kutina about this auction.  Joseph Kutina is with Reo Property Consultants in Strongsville, Ohio.

Each property that came up for bid was put up on the screen and bids were solicted.  The folks in the blue shirt noted the bids.

A lady who sat in front of me lost a bid for a condo in Sagamore Hills, her last bid was $18,000.  The highest bid for the condo was $20,000.  She look at the bid winner and then walked out of the hall after this condo auction with a look of disappointment.  A couple of young women had the winning bid at $1700 for a property.  A property in the Elyria area received a maximum bid of $100, yes, one hundred bucks. → continue reading Cleveland Foreclosure Auction