YOUR SOURCE FOR HOME BUYING, SELLING & LIVING IN CLEVELAND OH | |
Smart Move. February 2023 | | |
NEW!
12012 Wade Park
University Circle
| A one-owner, single-family home built in 2018, in the heart of University Circle. Ten years of tax abatement remaining making it affordable and easy to own home within walking distance to all the amenities of The Circle. | |  |
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The McKeon Group at Howard Hanna is one of Cleveland's favorite Realtor Groups, led by Mike and Eileen McKeon.
Since 2001, the Group has advised and advocated for hundreds of Clients to "make a move" with confidence, strategic expertise, and exceptional attention to detail and service.
It's a smart move with The McKeon Group.
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The Akron Art Museum has a wonderful exhibition, State of the Art: Constructs, currently on display through February 26th. On display are works of sixty-one contemporary artists, including one of our favorite local painters, Amy Casey, whose work happens to be real estate related! Influenced by the evolution of cities, buildings, and the people that create these spaces, Amy’s paintings often feature homes from her Tremont neighborhood or buildings from around town. | |
Image info: Amy Casey, “Highground” 30x30 Acrylic on Panel, 2019 | |
REAL ESTATE LINGO: DEFINE IT! | | |
appraisal / ap·prais·al
ə-ˈprā-zəl
noun
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Definition: a valuation of property by the estimate of an authorized person.
In Real Estate: In a financed real estate transaction, the lending institution requires a third-party assessment of the property's value by a local, licensed appraiser. The valuation report is supported by sales of "comparable" properties, closed within the last six months, within the same school district and of similar size and condition. Some loan types (FHA, VA) require the appraiser to cite code violations which the seller is usually obligated to repair prior to closing.
Related buzzwords: Appraisal waiver, appraisal renegotiation, appraisal gap coverage.
If you have any questions regarding this or other lingo, email us themckeongroup@gmail.com
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HOME MAINTENANCE TIP/ FROZEN PIPES OH NO! | | |
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Cleveland was hit with below zero temperatures a few weeks ago which lasted for several days. Every year, we hear of homeowners impacted by frozen pipes. While we are hoping spring is around the corner, frigid temperatures will hit again. Here are some recommendations and action items to consider:
Before cold weather hits:
- Learn the location of your home’s water shut-off valve. If a pipe breaks, you’ll need to shut off the water to your house to minimize damage. In most single-family homes, the valve is in the basement or crawl space, on a wall facing the street.
- Insulate water pipes that may be vulnerable to the cold, such as those along exterior walls and in unheated basements.
During a deep freeze:
- Keep open cabinet doors leading to exposed pipes (such as access doors for sinks), so that household air can warm them.
- If you have an attached garage, keep its doors shut. Occasionally, plumbing is routed through this unheated space, leaving it vulnerable to winter's worst.
- Crack a faucet farthest from the place where your water enters the house. A very slow drip will keep water molecules moving, reducing the chance that pipes will freeze. Place a bucket underneath the faucet so the water can be saved for other household uses.
- Keep your thermostat set above 65 degrees when leaving your house or business for several days.
If you think a pipe is frozen, don’t wait for nature to take its course:
- Thaw the pipe as soon as possible or call a plumber for help.
- If you thaw it yourself, shut off the water or test the shut-off valve. You don’t want water suddenly gushing from the pipe when it thaws.
- When thawing, slower is better. Pipes warmed too fast may break. A hair dryer pointed at the frozen area of the pipe is appropriate (towels with hot water or space heater).
If you are in need of a plumber recommendation – emergency or routine- visit our website or give us a call for recommendations!
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FINANCING/ FACT OR FICTION? | | |
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"I need to put 20% down": FICTION. You can buy a home with as little as a 3% down payment, for a conventional loan, regardless if you are a first-time homebuyer or not. While an FHA loan might be the best option for some borrowers, it’s not for all. Conventional loans offer a variety of down payment options to meet your financial goals.
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"I will have to pay Private Mortgage Insurance if I put less than 20% down". FICTION. Many borrowers will qualify for a conventional loan, no PMI with 15% down payment. It depends on the borrower and what a lending institution can offer. Credit score, debt, and other factors may position you for this option.
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The home lending industry has evolved, loan offerings change constantly, and borrowers have a lot more options today than in the past. We work with the best mortgage officers in the business, who offer exceptional products, rates, and service. Let us introduce you! FACT!
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One of our favorite things to do in and around Cleveland in the Winter? Socializing with friends over a craft cocktail and delicious food! A gem we are loving right now has to be @jajacleveland. This newer restaurant, located in the Truss Building in Ohio City, is swanky, and intimate as they only seat seventy-five diners at a time. The drink menu is fabulous and the small plates make it easy for sharing. A fan favorite is their “It’s Pronounced [How-Stun]” cocktail, which is a fabulous twist on a classic Old Fashioned. They offer alcohol-free mocktails--we enjoyed the refreshing "She Only Wears Green".
Given the small, intimate space, plan ahead and make a reservation, as they book up quickly! There is a beautiful bar, which seats six, so get there early to snag one of those coveted seats for casual bites at the bar. Have fun!
More about Jaja Cleveland
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