Mortgage Rates Expected to Increase, Fed To Reduce Bond Purchases

Ben Bernake announced yesterday that the Federal Reserve will begin reducing the amount of bonds it will purchase, from $85 billion per month to $75 billion.  This is the first step taken to "take off the training wheels" on the federal stimulus it created to get the United States out of it's recession.  The Fed’s purchases will be divided between $40 billion in Treasuries and $35 billion in mortgage bonds starting in January, Bernanke said.

“Reflecting cumulative progress and an improved outlook for the job market, the committee decided today to modestly reduce the monthly pace at which it is adding to the longer-term securities on its balance sheet,” Bernanke said at a press conference in Washington today after a meeting of the Federal Open Market Committee.

Stocks rallied on the good news reported regarding the improved economy and reduced unemployment figures.  The Fed said its benchmark interest rate is likely to stay low “well past the time that the unemployment rate declines below 6.5 percent, especially if projected inflation continues to run below” the Fed’s 2 percent goal.

Since the Fed began signaling in May that it may soon begin to dial down the purchases, interest rates have drifted higher, with the average 30-year fixed mortgage rate rising to 4.42% from 3.35% in May. The rising rates helped convince the Fed to delay tapering in September.  Rates are expected to continue to increase, but not at an immediate, drastic amount.  However, it will have an affect on the purchasing power for home buyers.

Further complicating the picture is that Fed Chairman Ben Bernanke plans to step down when his term ends in January. Vice Chair Janet Yellen, who has been nominated to succeed him, has expressed an even more pro-growth approach but must deal with a policymaking committee with diverse views of the stimulus.

*Information source from Bloomberg News and USA Today

Cleveland, Northeast OH Area Real Estate Market October 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region increased from September to October. Lower home inventory, higher rental prices and higher buyer demand due to low (but climbing) interest rates, have been driving this increase in activity and increase in sales prices over the past year or so.
Sales comparing October 2012 to October 2013 still show increasing sales figures.  Among the 15 counties in Northeast Ohio, single family home sales are up 14.9% and 10.4% for condominium sales. 

By comparison, Northeast Ohio is showing a 3.8% price increase from last year, with the state of Ohio's at 2.3%. Ohio's sales volume increase was also up by over 8% from October 2012.  The US market saw a 12.8% increase in sales price from the year before, and is showing a sales volume decrease of 3.2%.  Ohio and Northeast Ohio's price increases have stabilized recently, while the US sales prices continue to rise at a higher rate, which has been historically the case in our area compared with the nation.  There is still a concern that home prices are rising faster than income growth.

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have decreased slightly, hovering around 4.3%. 

This is a great time for buyers who also have a home to sell, because rates are still relatively low on the buying side, but home values have risen in many areas to improve the financial return on the selling side.  If the economy continues to improve, buyers in the current market will be able to realize value gains for the homes they purchase as well.

11 Reasons To List Your Home During The Holidays

You’ve heard it from real estate agents before. “The Winter season is slow.” Or, “No one is really buying or selling.” And even, “I’ll get started in the New Year, it’s a new start right?”  Wrong. The truth is, it’s better to be ahead than behind.

Here are 11 reasons to have your home listed during the holidays:

11. By selling now, you may have an opportunity to be a non-contingent buyer during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low.

10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year.

9. Even though your house will be on the market, you still have the option to restrict showings during the six or seven days around the Holidays.

8. January is traditionally the month for employees to begin new jobs. Since transfers cannot wait until Spring to buy, you need to be on the market during the Holidays to capture the market.

7. Some people must buy before the end of the year for tax reasons.

6. Buyers have more time to look for a home during the Holidays than they do during a work week.

5. Buyers are more emotional during the Holidays, so they are more likely to pay your price.

4. Houses may show better when decorated for the Holidays.

3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home. Less supply and more demand means more money for you.

2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you.

And the number one reason why your seller should list during the Holidays…

1. People who look for homes during the Holidays are more serious buyers!


*Information courtesy of the Keller Williams Greater Cleveland SW blog

Cleveland, Northeast OH Area Real Estate Market September 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region dropped from August to September, but continue to surpass last year's sales figures. Lower home inventory, higher rental prices and higher buyer demand due to low (but climbing) interest rates, has driving this increase in activity and increase in sales prices over the past year.  Economist say that the recent government shutdown and consumer uncertainty attributed to the reduced sales volume in September.
Sales comparing September 2012 to September 2013 still show increasing sales figures.  Among the 15 counties in Northeast Ohio, single family home sales are up 15.2% and 3.1% for condominium sales. 



By comparison, Northeast Ohio is showing a 3% price increase from last year, with the state of Ohio's at 2%. Ohio's sales volume increase was also up by over 18.9% from September 2012.  The US market saw a 11.7% increase in sales price from the year before, and is showing a sales volume increase of 10.7%.  Ohio and Northeast Ohio's price increases have stabilized recently, while the US sales prices continue to rise at a higher rate, which has been historically the case in the area compared with the nation.  There is concern that home prices are rising faster than income growth.



The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have decreased slightly, hovering around 4.3%. 

This is a great time for buyers who also have a home to sell, because rates are still relatively low on the buying side, but home values have risen in many areas to improve the financial return on the selling side.  If the economy continues to improve, buyers in the current market will be able to realize value gains for the homes they purchase as well.

New Home Construction - Reasons To Have Realtor Representation

Buying a new home is exciting, and home construction is on the rise. You get to build your home the way you want it to be. But like any home purchase, new construction is an expensive transaction with many financial implications.

Here's why it’s a good idea to obtain representation from a Realtor when considering new construction:

Sales Reps Work For The Builder. Builders usually have their own agents or representatives on site to discuss the home construction process, and help with a potential purchase. They can explain how the builder compares to competitors, differences between models and floor plans, go over your financing options, upgrades and specials, etc. But it’s important to know that builder reps represent the builder.

Fiduciary Duties. When you use Realtor representation, their responsibility is to you. You have a local expert who is looking out for your best interests, who’s contractually obligated to protect you. A buyer's agent can help you navigate the contract and help you understand the specific clauses, riders and upgrade, making sure you know what you need to before you sign on the dotted line.

Negotiating. Finding the right model and choosing your upgrades is fun, and you should truly try to enjoy the experience. The contracts and negotiating terms and options is the not-so-fun part, and can be quite daunting.  Most buyers don't know they can even negotiate with a builder. Your agent can also present other financing options or possibly work with the builder’s lender directly to get you a better rate for your mortgage.

Navigating You to Closing. Signing a contract with a builder is step one in the process. You must also line up financing, work with title companies, attend numerous inspections and make sure completion of the home meets the deadline. Your Realtor can manage that process to ensure you’re not missing anything at each stage of your new home's construction.

Home Value Accuracy - Agent Versus Software Estimates

If you're considering buying or selling a home, I'm sure you've probably looked at various real estate sites to see how much homes are valued for.  As a real estate professional, I get clients that ask me about these home value estimates all the time.  Some of them have almost decided not to buy or sell a home, because they trusted these estimated to be accurate, and they got the impression they could not meet their selling or purchasing goals.

So, I decided to due my homework and see just how accurate these estimates are.  I went to the most well known site for home value estimates...Zillow.  Their "Zestimates," as they're called, provide home value estimates of any home, whether they're for sale or not.  Zillow states that this is not to be construed as an appraisal, but an opinion of value.

The issue is, these values are derived from county tax values, last sales price, surrounding homes in different communities and school districts.  It may also use homes that while close in proximity, are of varying quality, size, condition, age, and/or distressed (foreclosure or short sale).  The homes could be in a better or worse location as well (train tracks, near highway, on a main road, etc).

I attached a screen shot from Zillow's website that discloses the accuracy of their "Zestimates," which can be viewed at the following link as well.  ZESTIMATE ACCURACY



Being a Realtor in the Cleveland and Northeast Ohio area, I'll ask you to draw your attention to the Cleveland OH statistics. As you can see, the "Zestimates" are only 35.9% accurate within 5% of the true value, 63.7% within 10% of true value and 83.7% accurate within 20% of true value.  If an agent had accuracy numbers like these, he/she wouldn't be a very successful Realtor.

To put this in perspective, if a seller owned a $250,000 home, the differences at these 5-20% levels of accuracy could range from $12,500-$50,000!  If the seller's home is one of the 16.3% that weren't even accurate within 20%, this number could be even higher.

The point is, as I explain to all of my clients, using the internet to obtain real estate knowledge can be a great thing, but can also be misleading or incorrect.  Knowing the source of your information is very important, and it's the reason I wrote this article.  Specific to this topic, nothing replaces the valuation of a local real estate agent.  And when choosing a Realtor, be sure to interview more than one to make sure you're choosing a knowledgeable agent that will successfully guide you through your transaction.

Ohio Career Expo at the Cleveland Public Auditorium

Screencap taken from https://www.facebook.com/ohiocareerexpo

For those who are looking for a new job or considering switching careers, the Ohio Career Expo will take place on Tuesday, October 8 at 10am at the Cleveland Public Auditorium, located at 500 Lakeside Avenue E in Cleveland.

The Expo is an excellent opportunity for job seekers to apply at several different companies. For those looking to hire, it’s a good way to meet with hundreds of qualified candidates and possibly make several hires in just a few hours.

Registration is free of charge, but required, as tickets are going fast. Over 100 top Northern Ohio companies looking to hire will be in attendance, with full-time and part-time jobs available in industries including (but not limited to) advertising, aeronautics, agriculture and fishing, automotive, construction, education, engineering, food services, healthcare, hospitality, insurance, manufacturing, marketing, real estate, retail, sales, security, technology, telecommunications, and transportation.

According to the event’s official Facebook page, there are over 1,200 job openings in the Cleveland area healthcare sector alone. So don’t miss out on this fantastic opportunity, register now. For more information, please visit https://www.facebook.com/ohiocareerexpo.

Cleveland, Northeast OH Area Real Estate Market August 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures. Lower home inventory, higher rental prices and higher buyer demand due to low (but climbing) interest rates, is driving this increase in activity and increase in sales prices.  The low inventory continues to increase new construction demand, as well.
Sales comparing August 2012 to August 2013 show increasing sales figures by double digits, like they did in the past 3 months.  Among the 15 counties in Northeast Ohio, single family home sales are up 11.3% and 19.8% for condominium sales.  From July to August 2013, sales rose by 1.2%. 

By comparison, Northeast Ohio is showing a 8% price increase from last year, with the state of Ohio's at 3.4%. Ohio's sales volume increase was also up by over 16.9% from August 2012.  The US market saw a 14.7% increase in sales price from the year before, and is showing a sales volume increase of only 13.2%.  Northeast Ohio's price increases have stabilized recently, while Ohio and the US have dipped a bit.

Ohio just marked 26 straight months of annual sales gains, and nationwide sales of existing homes hit their highest level in 6.5 years.  Lawrence Yun, the chief economist for the National Association of Realtors, described the August jump as a "temporary peak," driven by higher interest rates on home loans.  He said he expects sales to be uneven over the coming months and that rising sales prices and restrictive lending may hold back sales growth.

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have begun to increase over the past several months, hovering around 4.5%. 

This is a great time for buyers who also have a home to sell, because rates are still relatively low on the buying side, but home values have risen in many areas to improve the financial return on the selling side.  If the economy continues to improve, buyers in the current market will be able to realize value gains for the homes they purchase as well.

For Home Sellers: Understanding The Home Buyer

As the seller, you can control three factors that will affect the sale of your home:

* The home's condition
* Asking price
* Marketing strategy

However, it's important to note that there are numerous other factors that influence a buyer, and you need to understand these consumer trends when you enter the sellers' market. The more your home matches these qualifications, the more competitive it will be in the marketplace. Your real estate agent can advise you on how to best position and market your home to overcome any perceived downsides.

Location
Unfortunately, the most influential factor in determining your home's appeal to buyers is something you can't control: its location. According to the National Association of REALTORS(r), neighborhood quality is the No. 1 reason buyers choose certain homes. The second most influential factor is commute times to work and school.

Size
While some buyers want to simplify their lives and downsize to a smaller home, home sizes in general have continued to increase over the decades, nearly doubling in size since the 1950s. Smaller homes typically appeal to first-time home buyers and "empty nesters," or couples whose children have grown up and moved out.

Amenities
Preferences in floor plans and amenities go in and out of fashion, and your real estate agent can inform you of the "hot ticket" items that are selling homes in your market. If your home lacks certain features, you can renovate to increase its appeal, but be forewarned: That's not always the right move. Using market conditions and activity in your neighborhood as a gauge, your agent can help you determine whether the investment is likely to help or hinder your profit margin and time on the market.

2013 Cleveland Labor Day Oktoberfest This Weekend

Screencap taken from http://clevelandoktoberfest.com/

The 2013 Cleveland Labor Day Oktoberfest, tagged as Northeast Ohio’s largest annual outdoor festival, will take place at the Cuyahoga County Fairgrounds from Friday, August 30 to Monday, September 2. For four exciting days, visitors can expect authentic German food, live entertainment from local and regional musicians, German dance groups and of course, gallons and gallons of ice-cold beer.

A diverse and unique experience, the Cleveland Labor Day Oktoberfest will have something to offer everyone. For art lovers, there will be a dedicated Art Market, sidewalk chalk art and a demonstration by sand sculptor Carl Jara. A 5k race, corn hole boards and other sporty activities will cater to more athletic visitors. Shopaholics can visit the Bavarian Bazaar while car enthusiasts can check out the VW Show & Campout as well as the juried Car Show. Of course, the festival also has fun activities lined up for the kids, including the Frisch Marionette Show, inflatables, toy trains, a gingerbread house building competition, sandboxes, a stunning fireworks display and more.

Admission costs $10 with a $2 discount if you purchase tickets online. Children under 12 get in free. Hours are from 5pm to midnight on Friday, noon to midnight on Saturday and Sunday and from noon to 9pm on Monday. The Cuyahoga County Fairgrounds are located at 164 Eastland Road in Berea. For more information, please visit clevelandoktoberfest.com.

Cleveland, Northeast OH Area Real Estate Market July 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures. Lower home inventory, higher rental prices and higher buyer demand due to low (but climbing) interest rates, is driving this increase in activity and increase in sales prices.  The low inventory continues to increase new construction demand, as well.
Sales comparing July 2012 to July 2013 show increasing sales figures by double digits, like they did in May and June.  Among the 15 counties in Northeast Ohio, single family home sales are up 22.6% and 30.2% for condominium sales.  From June to July 2013, sales rose by 9%. 

By comparison, Northeast Ohio is showing a 6.3% price increase from last year, with the state of Ohio's at 7.2%. Ohio's sales volume increase was also up by over 25.8% from July 2012.  The US market saw a 13.7% increase in sales price from the year before, and is showing a sales volume increase of only 17.2%.  Northeast Ohio's price increases have improved to a lesser degree the past couple months, while Ohio and the US have been fairly stable.

"Although housing affordability conditions will become less attractive, jobs are being added to the economy," Lawrence Yun, chief economist for the National Association of Realtors, said in a written statement. "And mortgage underwriting standards should normalize over time from current stringent conditions as default rates fall."

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have begun to increase over the past several months, hovering around 4.5%. 

This is a great time for buyers who also have a home to sell, because rates are still relatively low on the buying side, but home values have risen in many areas to improve the financial return on the selling side.  If the economy continues to improve, buyers in the current market will be able to realize value gains for the homes they purchase as well.

Consider Home Staging to Sell Your Home

So, you're selling your home, or at least considering it.  But how do you compete with the rest of the market around you?  Pricing? Condition? Listing with an agent that knows how to market your home properly?  YES!

For the purposes of this post, we're going to concentrate on the condition of the home...

Why to Consider Staging

As a seller, you want to put yourself in the best position to get buyers' attention and have them perceive a value for your home, in comparison to other homes on the market in the area.  A buyer needs to see themselves living in your home.  Whether you're currently living in your home or have left it vacant, home staging may be what you need to set your home apart from the rest.

The purpose to home staging is to give your home an updated look, and to give a buyer the ability to see what the home would look like in it's best possible condition.  It helps highlight the home's best features, with the goal of appealing to a broad range of buyers, selling faster and for a higher dollar amount.  According to statistics from the Accredited Staging Professional website, the success rate (see below) can be quite substantial.


Return on Investment

Costs can vary, depending on the size of the home and how much staging work is done.  It can be a few hundred dollars to several thousand, but if it results in a quick sale for top dollar, it may prove to be well worth the investment. According to staging professionals, it can provide a 3-7% higher sales price.

The following is a summary of the results of HomeGain's national survey, based on the ten areas of home improvement identified by real estate agents in HomeGain's survey. They are listed from the highest to lowest returns on investment:


Bottom Line

As I always advise my sellers, if there is something that can place your home above all the rest, it should always be considered.  In regards to home staging, if the results and the return on investment can be achieved, it may be a way for a seller to "beat the market" in a time when the market heavily favors the buyer.

Cleveland, Northeast OH Area Real Estate Market June 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures, as we have now hit the mid-point of the year. Lower home inventory, higher rental prices and higher buyer demand due to low (but climbing) interest rates, is driving this increase in activity and increase in sales prices.  The low inventory continues to increase new construction demand, as well.
Sales comparing June 2012 to June 2013 show increasing sales figures by double digits, like they did in May.  Among the 15 counties in Northeast Ohio, single family home sales are up 13.3% and 11.2% for condominium sales.  From May to June 2013, sales rose by 4%. 

By comparison, Northeast Ohio is showing a 8.4% price increase from last year, with the state of Ohio's at 9.3%. Ohio's sales volume increase was also up by over 15% from June 2012.  The US market saw a 13.5% increase in sales price from the year before, and is showing a sales volume increase of only 15.2%.  Last month, Northeast Ohio outpaced Ohio and the US in both volume and price increases.

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have begun to increase over the past several months, hovering around 4% or so.  Rates were nearly a full percent lower in November of last year.

This is a great time for buyers who also have a home to sell, because rates are still relatively low on the buying side, but home values have risen in many areas to improve the financial return on the selling side.

Luau on the Lake on July 20, Wendy Park in Cleveland OH

Photo taken from http://sc4k.org/

SC4K or Shoes and Clothes for Kids are holding its 8th annual Luau on the Lake on Saturday, July 20 at Wendy Park at Whiskey Island in Cleveland. This is a Hawaiian themed fundraising event to benefit the children that Shoes and Clothes for Kids supports. Guests can expect to enjoy a fun filled day with good food, drinks, wine and beer, outdoor activities such as sand volleyball, live music and entertainment, and a fantastic view of Lake Erie. The event will also feature exciting giveaways and a fabulous raffle.

SC4K is a non-profit organization that provides new clothes and shoes to thousands of children in Greater Cleveland at no charge throughout the year. With a network of 35 distribution partners, they aim to positively impact the lives of less fortunate area children by giving them the boosts in confidence and self-esteem that having new clothes and shoes naturally brings.

Tickets for Luau on the Lake range from $40 to $50. The event starts at 3:30pm for VIP ticket holders and 4pm for General Admission. Food will be served from 5:30 to 7:30pm. For more information on this event, please visit sc4k.org.

Cleveland, Northeast OH Area Real Estate Market May 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures. Lower home inventory, higher rental prices and higher buyer demand due to low (but climbing) interest rates, is driving this increase in activity and increase in sales prices.  The low inventory is increasing new construction demand, as well.
Sales comparing May 2012 to May 2013 show increasing sales figures by double digits.  Among the 15 counties in Northeast Ohio, single family home sales are up 12.6% and condo sales are up a 25.8%.  From April to May 2013, sales rose by double digits also. 

By comparison, Northeast Ohio is showing a 13.4% price increase from last year, outpacing the state of Ohio's 9.3%. The US market saw a 15.4% increase in sales price from the year before, and is showing a sales increase of only 4.2%. 

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have reached nearly as low as they can go, when deciding the best time to make a purchase.  In fact, rates have already shown increases over the past several months, and have been hovering around 4%. 

This is a great time for buyers who also have a home to sell, because rates are still relatively low on the buying side, but home values have risen in many areas to improve the financial return on the selling side.

Cleveland, Northeast OH Area Real Estate Market April 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures. Lower home inventory, higher rental prices and higher buyer demand due to low interest rates, is driving this increase in activity and increase in sales prices.  Lower inventory (down 13.6% from last year) is actually thought to be keeping home sales gains from improving even further. 
Sales comparing April 2012 to April 2013 show increasing sales figures.  Among the 15 counties in Northeast Ohio, single family home sales are up 15.9% and condo sales are up a 13%.  From March to April 2013, single family home sales increased 0.6%.  In addition to the increase in sales activity, Northeast Ohio is showing a 3.3% increase in single family home prices and 3.6% increase for condos, compared to last April. 

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have reached nearly as low as they can go, when deciding the best time to make a purchase.  In fact, rates have already shown increases over the past several months, and have nearly reached 4%. 


By comparison, Northeast Ohio is showing a similar sales price increase to Ohio's 3.5%. The US market saw a 11% increase in sales price from the year before, and is showing a sales increase of 9.7%.  Nationally, 4.97 million homes have sold, which is just shy of meeting the lower part of the 5-6 million of annual home sales considered to be a normal or healthy range.

Mortgage Delinquencies Fall to 2007 Lows

According to a recent article from the National Association of Realtors, delinquencies on home loans dropped in March to 0.84 percent of the nation's 50.2 million mortgages -- the first month since 2007 that delinquencies were below the 1 percent mark.

First-time defaults -- loans that are at least 60 days delinquent -- peaked in January 2009 at 2.89 percent.

Home loans at least 30 days delinquent or in foreclosure dropped to 5 million in March. In January 2010, delinquent loans for at least 30 days peaked at 7.7 million.

More home owners are seeing equity once again in their homes, as prices rise. The number of mortgages with negative equity dropped to 18 percent of homes with a mortgage in January, down from 41 percent one year earlier.

Cleveland, Northeast OH Area Real Estate Market March 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures. Lower home inventory (which is beginning to increase), higher rental prices and higher buyer demand due to low interest rates, is driving this increase in activity and increase in sales prices.  Competition over available homes has been more common over the past several months.
Sales comparing March 2012 to March 2013 show increasing sales figures.  Among the 15 counties in Northeast Ohio, single family home sales are up 15.8% and condo sales are up a 15.6%.  From February to March 2013, single family home sales increased 48.9% and condos increase by 33.3%.  In addition to the increase in sales activity, Northeast Ohio is showing a 6.9% increase in single family home prices and 1.0% increase for condos, compared to last March. 

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have reached nearly as low as they can go, when deciding the best time to make a purchase.  In fact, rates have already shown increases over the past several months.  The data also indicates we have seen the bottom of the local real estate market.



By comparison, Northeast Ohio is showing a higher price increase of 6.9% versus Ohio's 5.2%. The US market actually saw a 0.6% decrease in sales price from the year before, but is showing a home price increase of 6.9%.  Nationally, 4.92 million homes have sold, which is just shy of meeting the lower part of the 5-6 million of annual home sales considered to be a normal or healthy range.

Hop aboard the Cuyahoga Valley Scenic Railroad

If you are looking for things to do as the weather gets warmer, and if you would like to experience the beauty of Northeast Ohio in a whole new way, why not hop aboard the Cuyahoga Valley Scenic Railroad? The CVSR is one of the longest, oldest and most scenic tourist excursion railways in the whole United States. This non-profit organization operates in partnership with the Cuyahoga Valley National Park and is dedicated to the preservation of passenger rail transportation in Cuyahoga Valley and the historic Ohio & Erie Canalway.

The CVSR has several special events, tours and educational programs throughout the year, but if you simply want to enjoy a relaxing train ride through a breathtakingly scenic route, you may purchase tickets for just $12 for both adults and kids. There is even food aboard the train, so all you have to do is sit back, relax and enjoy the sights.

For more information on the Cuyahoga Valley Scenic Railroad, please visit www.cvsr.com.

NAR Chief Economist Discusses U.S. Real Estate Market

The National Association of Realtors Chief Economist Lawrence Yun joined C-SPAN yesterday morning to discuss the U.S. housing market, and he responded to telephone calls and electronic communications. Topics included the March 2013 jobs numbers, Obama administration efforts to boost the housing market, and the real estate markets in individual states.

Cleveland, Northeast OH Area Real Estate Market February 2013

According to the Northeast Ohio Regional Multiple Listing Service (NORMLS) and an article from the Cleveland Plain Dealer newspaper, homes sales in the region were lower in February than it was in February 2012.  However, the article was quick to point out that some real estate agents aren't advertising their listings, so the figures aren't accounting for those sales.  Carl DeMusz from the NORMLS advised "...that at least 89 sales -- many of them involving higher-end properties -- were held out of the listing service last month. Overall, sales are "at least slightly better than what we're showing," he added. "What we're seeing in the market is not the optimistic numbers. They're the conservative numbers."
Using the "listed" home sales (not accounting for these missing sales) comparing February 2012 to February 2013 show a small decline.  Among the 15 counties in Northeast Ohio, single family home sales are down 1.6% and condo sales remained flat.  January's data reported a 20.8% increase in sales contracts early in the year, indicating strong sales were probable in February and March.  Northeast Ohio is showing a 15% increase in single family home prices and 11.7% increase for condos, compared to last February. 

What I'm finding is that buyers are very active right now, but some are waiting for more homes to come onto the market.  I see sellers wanting to list as we approach April and warmer weather, which would indicate February as more of a "hiccup" in the improving local real estate market. 

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have reached as low as they can go, when deciding the best time to make a purchase.  In fact, rates have already shown increases over the past couple months.  The data over the past several months indicates we have seen the bottom of the local real estate market.

By comparison, Northeast Ohio is currently being outpaced by Ohio's sales increase of 10.2% in February, however, Northeast Ohio is showing a higher price increase of 15% versus Ohio's 7.9%. The US market has also seen a 10.2% increase in sales from the year before, and Northeast Ohio is showing a higher price increase than the national average increase of 11.6%.  Nationally, 4.98 million homes have sold, which is just shy of meeting the lower part of the 5-6 million of annual home sales considered to be a normal or healthy range.  

I-X Indoor Amusement Park in Cleveland opens March 22

The I-X Indoor Amusement Park will be open once again, starting Friday, March 22 and running through Sunday, April 14. With over 20 acres of rides, fun activities, live entertainment, food and more, the amusement park is something families in Cleveland look forward to every spring.

This year’s highlights include the new Soaring Eagle Zipline, which takes a pair of riders up almost 70 feet above the I-X Center floor; the new White Water Ride, which features 58,000 gallons of water; and all new family friendly shows such as Mutts Gone Nuts, featuring loveable canines performing hilarious stunts and tricks.

The amusement park has also announced some great news: the price of admission has been lowered this year.

Amy Girton, show manager and marketing director, said, “I am pleased to announce that we have lowered our individual ticket pricing this year to the I-X Indoor Amusement Park, while also adding new entertainment and two new rides. If you haven’t been to the park recently, or maybe you come every year, this is the year to visit and save money, while also enjoying two new rides and our new Mutts Gone Nuts dog show that is both cute and funny for the who family to enjoy!”

The I-X Indoor Amusement Park is located at 6200 Riverside Drive in Cleveland. For more information, please visit www.ixamusementpark.com.

Mortgage Interest Rates Are On The Rise

Interest rates have reached a 6 month high for 30 year loans, with an average rate of 3.63%, up from last week's average of 3.52%.  For comparison, in November-December 2012 the rates were at a 3.35% national average. The average 15 year rate also saw a small increase from 2.76% to 2.79%.

The main contributors to the increase are the improved economy and the drop in unemployment rates.  In fact, unemployment rates dropped below expectations to 7.7%.  The short version of why these indicators affect interest rates, is due to consumer confidence and the obvious fact that if more people are working, there will be more people with the ability to make a home purchase.

So, what this means for a home buyer is that interest rates are on the rise.  They fluctuate daily and we will see peaks and valleys, but the rates will be trending upward as the economy improves.  That is why this year would be a great time to consider making a home purchase.  Economists are projecting that rates will reach 4% by year's end.  It's still a fantastic rate, but as the rates increase, it will affect a buyer's purchasing limit.

For sellers, we are seeing in most communities, that there is high buyer demand due to the rising rates and not enough homes for sale yet to meet the demand.  When there is high demand and lower supply, that indicates a trend leaning toward a seller's market.  That is why we are also seeing a slight increase in home sales prices, shorter days on the market and multiple offer situations on homes. 

This is a very exciting point-in-time where a homeowner can experience a better seller's market, and still take advantage of the low interest rates and great sales prices, before we see further increases in those rates and prices.  I would enjoy speaking to anyone considering a move, to discuss the local market and how it affects your specific situation and needs.

14th annual St. Patrick’s Day parade in Cleveland

It’s that time of year again when the streets of Cleveland turn green. The 14th annual St. Patrick’s Day parade will kick off at 2pm on Sunday, March 17 at Superior Avenue and East 18th Street. The sea of green will then march to Public Square and circle back to East 6th Street, spanning an approximately two mile route that will take about two hours and 15 minutes.

Parade organizer Shannon Corcoran said, “We try to keep a steady pace, but if it’s cold, they tend to move faster.”

Last year’s parade was fortunately held in sunny weather, which resulted in a crowd of about 400,000 joining in along the parade route.

The Cleveland parade holds the distinction of being the oldest and largest in the state, and has stayed within the top ten largest in the whole United States. This year’s instalment will have about 13,000 marchers participating, as well as a couple of Irish wolfhounds and 208 units.

Visitors can expect to see police officers dressed in sharp uniforms, high school marching bands in their glittering costumes and bagpipers in their Highland kilts. Kevin McGinty of Euclid will be the parade’s grand marshal, and Una Ellis of North Ridgeville will be the Irish Mother of the Year. Since this year will mark the 150th anniversary of the Cleveland Fire Department, the parade will see a lot of fire fighting gear as well.
This year’s parade theme is Irish immigrants coming to America.

Sesame Street Live: Elmo Makes Music in Cleveland

For parents of young children about 5 to 7 years old, a fun and educational show is coming to the PlayhouseSquare in Cleveland. Watch the famous furry red monster Elmo and all his Sesame Street friends including loveable yellow Big Bird and newer character Abby Cadabby in a special production of Sesame Street Live: Elmo Makes Music. The story is about Jenny, an enthusiastic new music teacher who comes to Sesame Street only to discover to her dismay that her musical instruments are missing. Jenny quickly makes friends with the Muppets, who come to her rescue and help her discover “instruments” they never knew existed, including rubber duckies, trash can lids and cookie jars. Together, Elmo and friends teach children that anyone can enjoy and make music, even using commonplace household objects to make a joyful sound.

Children of all ages will surely enjoy this special treat as they recognize the beloved Muppet characters. Accompanying adults will also enjoy hearing familiar songs such as “The Hustle,” “You Should be Dancing” and “Rockin’ Robin.” The show features almost two dozen songs, including instantly recognizable sing along classics such as “C is for Cookie” and “The Alphabet Song.”

Catch Sesame Street Live: Elmo Makes Music from Thursday, February 28 to Sunday, March 3 at the PlayhouseSquare’s State Theatre located at 1501 Euclid Avenue in Cleveland. Tickets range from $10 to $70 and are available online at www.playhousesquare.org.

January Pending Home Sales Up in All Regions

From the National Association of Realtors:

WASHINGTON (February 27, 2013) - Pending home sales rose in January, and have been above year-ago levels for the past 21 months, according to the National Association of Realtors®. There were healthy monthly gains in all regions but the West, which is constrained by limited inventory but was slightly improved.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased 4.5 percent to 105.9 in January from a downwardly revised 101.3 in December and is 9.5 percent above January 2012 when it was 96.7. The data reflect contracts but not closings.

The January index is the highest reading since April 2010 when it hit 110.9, just before the deadline for the home buyer tax credit. Aside from spikes induced by the tax credits, the last time there was a higher reading was in February 2007 when it reached 107.9.

Lawrence Yun, NAR chief economist, said inventory is the key to this year's housing market. "Favorable affordability conditions and job growth have unleashed a pent-up demand. Most areas are drawing down housing inventory, which has shifted the supply/demand balance to sellers in much of the country. It's also why we're experiencing the strongest price growth in more than seven years," he said.

"Over the near term, rising contract activity means higher home sales, but total sales for the year are expected to rise less than in 2012, while home prices are projected to rise more strongly because of inventory shortages," Yun said.

The PHSI in the Northeast rose 8.2 percent to 84.8 in January and is 10.5 percent higher than January 2012. In the Midwest the index increased 4.5 percent to 105.0 in January and is 17.7 percent above a year ago. Pending home sales in the South rose 5.9 percent to an index of 119.3 in January and are 11.3 percent higher January 2012. In the West the index edged up 0.1 percent in January to 102.1 but is 1.5 percent below a year ago.

Yun expects approximately 5.0 million existing-home sales this year. However, price growth could exceed a 7 percent gain projected for 2013 if inventory supplies remain low. Previously, NAR had expected 5.1 million existing-home sales in 2013, while prices were forecast to rise 5.5 to 6.0 percent.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries. For additional commentary and consumer information, visit www.houselogic.com and http://retradio.com.

# # #

* The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

Also released today are annual data revisions. Each February, NAR Research incorporates a review of seasonal activity factors and fine-tunes historic data for the past three years based on the most recent findings. There are no changes to unadjusted or annual data.

NOTE: Existing-home sales for February will be reported March 21 and the next Pending Home Sales Index will be on March 27. The Investment and Vacation Home Buyers Survey, covering transactions in 2012, is scheduled for April 2; all release times are 10:00 a.m. EDT.

Cleveland, Northeast OH Area Real Estate Market January 2013

According to the Northeast Ohio Regional Multiple Listing Service and an article from the Cleveland Plain Dealer newspaper, homes sales in the region continue to surpass last year's sales figures. Lower home inventory, higher rental prices and higher buyer demand due to low interest rates, is driving this increase in activity and increase in sales prices.  Competition over available homes has been more common over the past several months.

Sales comparing January 2012 to January 2013 show improvement after a small decline in December.  Among the 15 counties in Northeast Ohio, single family home sales are up 6.2% and condo sales are up a 29.7%.  An increase in sales contracts early in the year, indicate strong sales probable in February and March.  In addition to the increase in sales activity, Northeast Ohio is showing a 6.4% increase in single family home prices and 6.0% increase for condos, compared to last January. 

The key point here is that the market is starting to stabilize and shifting to a seller's market.  Sellers are getting more for their homes than last year, with buyers paying a bit more to purchase a home to take advantage of the low interest rates.  Buyers should note that interest rates have reached nearly as low as they can go, when deciding the best time to make a purchase.  In fact, rates have already shown increases over the past couple weeks.  The data over the past several months indicates we have seen the bottom of the local real estate market.



By comparison, Northeast Ohio is currently being outpaced by the national sales increase of 9.1% in January.  Prior to that, Northeast Ohio was ahead of the national numbers.  The US market has also seen a 12.3% increase in sales price from the year before.  Nationally, 4.92 million homes have sold, which is just shy of meeting the lower part of the 5-6 million of annual home sales considered to be a normal or healthy range.  

4th Annual Brite Winter Festival in Cleveland

The 4th annual Brite Winter Festival will take place on Saturday, February 16 from 5 to 10pm at the Market District in Ohio City.

This event draws thousands of visitors every year, who brave the cold weather to enjoy the live entertainment, musical performances, interesting art exhibitions and outdoor games. Activities include a 24-foot long skee-ball ramp, ski bike racing, snow miniature golf, an incredible electronic arcade crane and hysterical snowball fights. The area’s best known bars and restaurants typically offer great discounts to festival goers when they come inside to warm up.

Highlights of the events include up to 20 art installations which were created through a partnership between The Cleveland Institute of Art and the Department of Community Affairs of The Cleveland Museum of Art. GE lighting will provide high energy efficiency lights for the installations for the second year in a row. 48 bands from across Ohio and the Midwest are also scheduled to play on 7 different stages. A fantastic selection of rock, punk, folk, indie, soul, acoustic and electronic acts has been curated by the Cleveland-based Bad Racket Recording Studio.

The event is free of charge, but if you would like to help out, you may participate as a volunteer or donate to the Brite Winter Festival Kickstarter campaign, which will earn you a pint glass from Glass Bubble Project, amongst other perks. For more information, please visit the event’s official Facebook page, www.facebook.com/britewinter.

 

The Great Big Home and Garden Show at I-X Center, Cleveland OH

The Great Big Home and Garden Show will take place from Saturday, February 2 to Sunday, February 10 at the I-X Center in Cleveland. With more than 650 exhibitors, the show is a must-see for home improvement and gardening enthusiasts.

New highlights and attractions to look out for this year include a fully-constructed, 4,000 square foot Idea Home sponsored by Sherwin-Williams and Cleveland Magazine. Built by Perrino Builders, the Idea Home aims to inspire visitors by presenting them with creative ways to plan and build their dream houses. Other features include a fully-constructed, 2,000 square foot Dream Basement built by Custom Remodeling and Design based in Chagrin Falls, fine dining at full-service restaurant Cambria Bistro, and daily cooking sessions presented by local chefs and instructors from the Loretta Paganini School of Cooking.

Returning favorites from last year’s show include the Garden Showcase, Celebrity Designer Rooms, Playground World’s KidsZone and last year’s Main Stage emcee, Matt Fox, who will also be presenting home improvement ideas and special educational topics on February 2, 3 and 5.

Tickets to the show cost from $5 to $14 and are available at the box office, online and at Home Depot and AAA locations. The I-X Center is located at 6200 Riverside Drive in Cleveland. For more information on the Great Big Home and Garden Show, please visit www.greatbighomeandgarden.com.

Downtown Cleveland Restaurant Week kicks off Feb. 22nd

The sixth annual Downtown Cleveland Restaurant Week will kick off on Friday, February 22, but although this will be the sixth year running for the popular event, 2013′s installment will feature several firsts.

First off, the event will stretch over two weekends for the first time ever, running through Sunday, March 3. This year’s celebration of downtown dining will also have a theme, namely “Pierogi Power,” as an ode to Cleveland’s unofficial signature food. Local chefs have been invited to create their own unique take on the tasty stuffed treat.

Also for the first time, there will be a kick-off party. Sponsored by Downtown Cleveland Alliance, the party will be in keeping with this year’s Polish theme, and is called “Go Fourth and Polka.” The highlight of the event will be DJ Kishka’s live polka entertainment set during happy hour on Friday, February 22 in the middle of East Fourth Street.

Aside from these few exciting new changes, the premise of Downtown Cleveland Restaurant Week will remain the same: more than 40 participating restaurants will offer three-course prix-fixe dinner menus prices at $30. Each restaurant will serve their own choice of specials, with some of them offering mix-and-match options as well as prix-fixe lunches, most of which are priced at $15.

For those who love food and all things Cleveland, Downtown Cleveland Restaurant Week is a great way to celebrate eating in the city. For more information, please visit downtowncleveland.com.

Realtor Confidence Levels Up Nationally, January 2013 Report

Realtor confidence levels are up significantly across the nation. The market is still being held back by a few obstacles, but the national market showing great improvement and going in the right direction.

Here is a recent article from the National Association of Realtors on the subject:

On January 24, 2013, in Economist Commentaries, by Jed Smith, Managing Director, Quantitative Research

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The year 2012 ended on a high note. Based on information gathered from the  December 2012 REALTORS® Confidence Index Survey, the Current Conditions Confidence Index increased for all property types. The index for single family homes rose to 56 from from 32 a year ago, indicating a shift in expectations from “below moderate” to “above moderate”.  An index of 50 means moderate conditions or expectations.   The index for townhouses ended at 39 compared to 19 last year, while the index for condominiums was at 31 compared to 14 last year.


REALTORS® generally reported brisker sales, rising home prices, and shorter days on the market.   However,  the market recovery continued to be held back by low inventory and  a tight  and drawn out underwriting process, especially for shortsales. Appraisal issues, the modest pace of economic recovery and job growth, and the potential adverse impact of ‘fiscal cliff” measures and  regulations on mortgage lending (e.g, Qualified Mortgage rules) were major concerns. REALTORS® also reported reduced activity in the areas affected by Hurricane Sandy and  concerns over the potential dampening effect of higher flood insurance rates.

4th Quarter 2012 Real Estate Statistics, Cleveland and Northeast Ohio

Recent sales data in Northeast Ohio shows that out of every 100 homes listed for sale, 46 fail to sell.  This is actually an improvement over the first few quarters, where it was closer to a 50% fail rate.  This is mainly due to higher buyer demand relative to fewer homes for sale.

Even with this improvement, of the 54 that did sell in the third quarter, 33 of the homes (60% of the homes that sold) required at least one price reduction.  That tells us that 79 out of every 100 homes are priced incorrectly at the time it is listed.

To further dispel the the notion that pricing high at the beginning of the listing won't effect the sale or the price of the home, the graphic below shows the difference in homes that didn't require reductions versus homes that did.  Homes priced correctly sold in 34 days for over 96% of asking price, while the homes that required reductions sold in 191 days for 80% of asking price.



____________________________________________________________________________


The key to selling real estate is proper pricing from the start...it's a huge part of marketing your home effectively.  Related to that, is hiring an agent that has a solid marketing plan and can provide you with the proper research you need to make an informed decision on pricing.  That way, you're not wasting valuable time and money and wondering why your home is still on the market.

I invite you to contact me anytime to discuss further.

Mid-America Boat and Fishing Show in Cleveland 2013

The 56th annual Mid-America Boat and Fishing Show, also known as the Cleveland Boat Show, will take place from Thursday, January 17 to Monday, January 21 at the I-X Center located at 6200 Riverside Drive in Cleveland.

One of the largest boat shows in the United States, the Mid-America Boat and Fishing Show will feature over a thousand new and classic boats, ranging from the latest motor boat models to classic or used sailboats. Expect to see hundreds of interesting exhibits, including full-scale models and boating and fishing accessories, as well as live entertainment, food and drinks, and fun activities for children.

Highlights of the show include a one of a kind pavilion that will be set up on the show floor in celebration of the Battle of Lake Erie bicentennial. Visitors can marvel at a replica of Oliver Hazard Perry’s longboat and mingle with historical re-enactors wearing period costumes.

Sean Fisher, grandson of famous treasure hunter Mel Fisher, will be showcasing valuable treasure finds, including an 8-foot long gold chain, gold bar and disc, silver coins, and a beautiful Atocha emerald which was valued at half a million dollars.

Meanwhile, children of all ages can enjoy educational fun with the Swampmaster’s Gator Show, where expert handler Jeff Quattrocchi will catch an 8-foot, 200-pound alligator with his bare hands!

For more information on the show, please visit midamericaboatshow.com. Tickets are available on the website and at the I-X Center box office.

Federal Reserve: US Economy On The Mend 2013

According to a report from Bloomberg News, the local and national economies have picked up over the last month, and are being primarily fueled by home and auto sales.  Nationally, over the 12 districts, the pace of economic growth has been termed "modest" to "moderate."

Cleveland, the fourth district, has seen the following:

• Staffing across all industries has been slow. Job openings have been stagnant, with most vacancies were found primarily in manufacturing and healthcare.
• Manufacturing reports indicated that new orders and production were flat or down slightly during the past six weeks. Increased manufacturing production was seen for companies that supply the auto industry.
• New home construction has seen improved sales, with optimistic confidence levels heading into 2013. Listing and sales prices are increasing with higher demand (due to low interest rates) and fewer homes available for purchase.  Building material costs have gone up, also driving sales price for new construction.
• Consumer spending reports indicate the holiday shopping season was solid, with improved sales expected in the first quarter of 2013. Auto sales and leasing have shown steady improvement over the past six weeks.

For additional economic reporting for Cleveland, please view the full article HERE.

Tax Credits and Mortgage Forgiveness Act Reinstated by Fiscal Cliff Bill

Two main tax benefits that had expired were reinstated by the "Fiscal Cliff" policy recently passed by the federal government, along with an extension of the Mortgage Forgiveness Debt Relief Act.  Homeowners will be able to claim these tax credits on their 2012 taxes, according to a recent article In the Washington Post.

The American Taxpayer Relief Act allows you to write off the insurance premiums you paid during 2012 along with your mortgage interest, provided your household income does not exceed $110,000. The new bill retroactively permits write-offs for all of 2012 and 2013 for qualified borrowers.

If you had any energy-efficient renovations done in 2012 or plan to do them in 2013, you may be able to claim up to a $500 tax credit.  This incentive lapsed in 2011 but could now give you up to $500 off the bottom line of your federal tax return.  More information on the credits can be found at website for the Alliance to Save Energy.

In addition to the reinstated credits, the "Fiscal Cliff" legislation kept the Mortgage Forgiveness Debt Relief Act in force for 2013. This act protects homeowners who found themselves "underwater" with their home loans from incurring punitive federal taxes, which would have forced them to pay tax on the full amount of the short sale deficiency, as regular income. 

If this Act would have expired, it would have forced homeowners into a potential bankruptcy or a foreclosure situation, which could have proved devastating to homeowners.  On a larger scale, it would have had a vast impact on banks, as well as the local, state and national economy.

Bridal shows in Akron and Cleveland Ohio Area

If you are one of the happy couples who recently got engaged during the holidays, there are a few upcoming events that may help you get your wedding plans started.

More than 200 local and national vendors will take part in upcoming bridal fairs and fashion shows in Akron and Cleveland, giving brides and grooms to be a wide array of choices for their special day.

Today’s Bride will be having shows on Sunday, January 6 from 10am to 5pm at the John S. Knight Center located at 77 E. Mill St. in Akron; Saturday, January 12 from 2 to 8pm at the International Exposition Center at 6200 Riverside Drive in Cleveland; and Sunday, January 13 from 10am to 5pm, also at the I-X Center.

Jennifer Fyffe, Vice President of the shows, says that Today’s Bride shows are amongst the largest in the state. Last year’s event in Akron was attended by more than 1,000 bride-to-bes, while over 2,500 attended the show in Cleveland.

Visitors to this year’s events can expect to see fashion shows that will highlight current trends in wedding gowns, tuxedos, bridesmaid gowns, flower girl dresses and different hairstyles and bouquets.
“We cover the whole entourage,” Fyffe says. “You’ll get to see 90 gowns in 40 minutes. It’s a really fun atmosphere to see the trends.”

Tickets to see the shows are $10 each, and each bride will receive a free pink tote bag, as well as a recent issue of Today’s Bride Magazine and an exciting chance to win an all-inclusive vacation to Real Resorts in Mexico from UnlimitedTrips.com.