Category — Foreclosures

Located in Westlake’s most desirable neighborhoods, The Estates offer beautiful Kopf built homes that feature exquisite architecture and luxurious amenities.  Residents of these fine Westlake homes can take advantage of the common facility with pool and tennis courts.  Also, great shopping, dining and entertainment are only a short walk away at nearby Crocker Park in Westlake OH.  You could live in this beautiful 4,312 square foot Colonial that features 4 bedrooms including a master bedroom suite with sitting room surrounded by windows.  The second bedroom has its own bath while the third and fourth have a “Jack and Jill” bathroom.  You will love the cherry kitchen with granite countertops, stainless steel appliances and breakfast room.  Gorgeous hardwood floors and crown molding highlight the formal living and dining rooms.  The family room opens up into the kitchen and offers a fireplace and access to a large patio with interlocking brick pavers, firepit and fantastic views!  This is one of the classiest Westlake homes that you will find in The Estates!

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I have been a licensed Realtor for the last 6 years.  Needless to say, I have seen a dramatic turn in the Cleveland real estate market.  Lately, I have been working with several real estate investors that have asked me to search for Cleveland foreclosures.  After doing my homework and providing my clients with a list of Cleveland foreclosures, I found some interesting information about these foreclosures and thought I would post my findings here so you might benefit from the latest surge in the Cleveland real estate market.  So, here it goes!

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One of the fastest growing markets over the last year or so in the Cleveland OH area is the luxury foreclosures.  Luxury homes throughout the Cleveland OH area that were once valued at the high end of people’s buying power, are now available through the Cleveland mls for far less- in some cases…30%-50% less!

Due to the rise and fall of these luxury foreclosures, it has opened up the opportunity for not only investors…but 1st time home buyers alike!  Once thought to be too pricey and out of a buyer’s price range, these Cleveland area foreclosures allow all buyers to afford luxurious amenities without paying an inflated price.  Some of the more popular areas to search for these listings are Strongsville, Westlake, Bay Village and Rocky River.  These communities have held their value relatively well throughout the downturn in the real estate market and therefore, provide some pretty significant upside in buying luxury foreclosures.

Many buyers are still happy with the low interest rates and 1st time home buyers are taking advantage of the $8000 tax credit.  Combine these two factors with the possibility of buying a luxury foreclosure for $10,000, $20,000, or even $30,000 under market value…and you have yourself a very smart investment!  Many buyers are gaining significant equity in their homes before they even get the keys!  These types of real estate transactions allow buyer’s to save thousands of dollars.

If you would like to search the Cleveland area real estate market for luxury foreclosures, contact your Cleveland Area Real Estate team or search now for these great deals using our Foreclosure Finder!

There are some wonderful buying opportunities in Strongsville OH- especially Strongsville foreclosures and bank owned homes!  Even though Strongsville real estate has kept its value relatively well in such a tough market…the foreclosure process has affected some areas of the sought after suburb on the west side of Cleveland. When buying a bank owned home in Strongsville OH, there are a couple of things that you may want to know before you purchase.  Although most homes may be listed on the Strongsville mls, the bank owned transaction may be a little different.

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