Cleveland Home Sales up 22.6% from last year

Great news for real estate investors in this area.  Rooftopinvestment.com has been investing in the Cleveland area for the last 5 years.  Rooftopinvestment and our clients have seen the growth personally and have purchased over 250 properties.  They stay rented with our property management company and get double digit returns.  Check out some of the stories I found this week to prove my point.

Here is a story from Cleveland.com by Michelle Jarboe McFee, The Plain Dealer

Northeast Ohio home sales jumped in July, eclipsing last year’s levels

 CLEVELAND, Ohio — Northeast Ohio’s housing market sustained its upswing last month, as buyers snapped up 22.6 percent more single-family homes and 30.2 percent more condominiums than a year before.  Click here to continue reading

This is good news because it decreases inventory.  Less inventory puts pressure on the prices and they start going up.  It’s like anything else you buy the more demand the higher the price.

In another story Tech companies are buying up a lot of office space in Cleveland downtown.  This will be great for both high paying jobs and buyers for real estate in the Cleveand Metro area.  This story comes from Crainscleveland.com 

By: STAN BULLARD

 Tech companies are now big players in real estate

Businesses in sector have become major tenants in the region’s office space market.

 Go by Brandmuscle’s office any Monday morning and you’ll see 160 employees of the marketing software firm gathered for updates in a huge cafĂ©. The backdrop: a bank of windows just shy of half the length of a football field with views of the downtown Cleveland skyline from the fifth floor of Oswald Centre. Read More 

As a real estate investors there is so much more to watch then prices of real estate and rents or sale prices. This is why Rooftopinvestment.com was born I have personally done over 700 investment properties in a lot of markets.  I always look at the economy and the amount of people moving into that area. 

When you have both of those ingredients it’s like having a master chef preparing your meals every day! Brett Young CEO Rooftopinvestment.com 

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