Neighborhood Spotlight: Macintosh Farms, Broadview Heights, OH

The Macintosh Farms development in Broadview Heights, Ohio is a planned community situated off of Broadview Rd (Rt 176), which consists of condominiums, cluster homes and single family homes. Most of the condos were built from 1986 to early 1990's, while the single family and cluster homes were constructed from 1995 to the early 2000's.  There are multiple entry points into the development, one on Fireside Trail and the other two entries are on Macintosh Lane, which is the horseshoe-shaped road that is at the heart of the development. 

The community is situated between Cleveland and Akron, and within minutes of four major highways. Residents enjoy the benefits of three swimming pools, a recreation barn, an outdoor amphitheatre, walking trails, tennis and basketball courts, stocked fish ponds and proximity to many nearby golf courses, the Cuyahoga Valley National Recreation Area, the Cleveland Metroparks, and Brandywine/Boston Mills ski resorts.  Macintosh Farms is located in the North Royalton City school district.

Recent single family home sales prices in Macintosh range from the low $200's to the mid $300's, with a square footage range from 2,000 to 4,000 square feet.  The condominiums and cluster sales range from approximately $120,000 to the upper $200's and are from 1,400 to 2,800 square feet.

The homeowner association for all home types is $35/mo.  For single family homes, there are no additional association fees.  The cluster homes and condos have additional maintenance fees, in an approximate range from $95/mo to $250/mo, for landscaping, lawn maintenance and snow removal.

Feel free to Contact Me anytime for more information.


Macintosh Farms Association Website

Google Map of Macintosh Farms



Search for Broadview Heights Homes Currently For Sale

City of Broadview Heights Website

North Royalton School Ratings

Broadview Heights School Ratings

Broadview Heights Demographics

How to Calculate Property Taxes: Cuyahoga County, Ohio

If you're looking to buy or sell residential real estate, it is recommended that you know what the property taxes for the home will be, at a given price. This post is being written to demystify the calculation of property taxes, to help you determine this important piece of information.

The first step is to find out what the effective tax rate is for the city/school district in which the home is located. The most up-to-date tax rates for Cuyahoga County can be found at:

http://treasurer.cuyahogacounty.us/en-US/community-tax-rates.aspx

Be sure to choose the rate sheet for residential tax rates. Once you have this figure, you can follow the steps below to estimate property taxes.

How to Estimate Property Taxes:

1. Multiply the market value of the home by 35%
2. Select the effective millage (aka effective tax rate) for the community
3. Place $0.0 in front of the millage amount in Step 2
4. Multiply the result of Step 1 and Step 3
5. Divide by two (2) to get the half-year effective taxes
6. Multiply to result of Step 5 by 87.50% to determine the adjusted current general half-year tax (after 10% rollback and 2.5% credit)
7. Add special assessment, if any apply, to get the total tax bill


Here's an Example:

Tax on a $200,000 home in North Royalton, Ohio

1. $200,000 x 0.35 = $70,000
2. Millage for North Royalton 70.03
3. Millage figure to use in calculation is $0.07003
4. $70,000 x $0.07003 = $4,902.10
5. $4,902.10 divided by 2 = $2,451.05
6. $2,451.05 x 0.875 = $2,144.67 adjusted currect half-year taxes
7. Be sure to add and Special Assessment, if applicable

Neighborhood Spotlight: New Hampton, Broadview Heights, Ohio

The New Hampton development in Broadview Heights, Ohio is a 290-acre community developed by Pulte homes. Most of the 500+ homes were built between 2002-2004, which consists of a mix of single family homes and estate homes, along with some town homes and cluster homes, as well. New Hampton is situated at the corner of Broadview Rd and E. Boston Rd. From Broadview Rd., you would enter the development from Hamilton Dr. From E. Boston Rd., there are entrances at Oxford Dr and Wilmington Dr.

The community offers a swimming pool, play ground, community center and walking/nature trails. The develpoment is close to the highway, golf, shopping, Cleveland International Airport and within 30 minutes of downtown Cleveland. New Hampton is in the North Royalton school district.

Single family home prices in New Hampton range from the low $200's to the mid $300's, with a square footage range from approximately 1,800 to 3,500 sq ft. There is an annual home owner's association fee of $350.

The townhome prices range from the low $150's to $170's, ranging from 1500 to 1600 sq ft. In addition to the annual association fee, the townhomes have a $127/month maintenance fee for landscaping, lawn cutting and snow removal.


New Hampton Association Website

Google Map of New Hampton

Search for Broadview Heights Homes Currently For Sale

City of Broadview Heights Website

North Royalton School Ratings

Broadview Heights School Ratings

Broadview Heights Demographics

FHA Mortgage Changes and Current Interest Rates

FHA is raising it's monthly mortgage insurance, effective April 18, 2011. The current mortgage insurance premium is 0.90%. For any loan applications that are assigned an FHA case number on or after April 18th, will be charge and annual premium of 1.15%. What does that mean to you as a buyer?

On a $100,000 loan, this equates to approximately $20.83 more in your monthly payment or about $250 per year. This may or may not seem significant to you, but it will reduce your potential buying power and approval amount. It is also being projected that interest rates may reach 5.5% for a 30 year mortgage by years end.

Fortunately, there is still some time to get you FHA mortgage application before the change takes place. In addition, average mortgage rates dropped significantly from 4.88% to 4.78% on a 30 year mortgage and the average 15 year mortgage dropped from 4.15% to 3.97%. These rates change every day, so locking in your rate when rates drop like this will help you get more home for your money.

So, talk to your mortgage lender soon or feel free to contact me. I can give you a list of lenders that I refer to my real estate clients. I am always available to advise you and help you find and buy the right home.