Perrysburg Blog

Which I rarely do.

Because you can look at the left side of my blog any day to see what new homes are on the market in Perrysburg.

But this one is mine.

This one is special.

This one is very, very hot.

1942 Tecumseh Court is in Crandenbrook.

And Crandenbrook is a FANTASTIC neighborhood.

You can walk to the park.  Your kids can walk to Ft. Meigs Elementary.

Excellent resale.

Excellent lot sizes.

I LOVE Crandenbrook (I have owned 2 houses there in the past . . . and raised my kids there).

But this house – on a quiet cul de sac, with a first floor master suite, and a three car garage is a SUPERLATIVE example of the best of Crandenbrook.  The lot, the layout, the condition – it’s all top shelf.   Priced right – what would you expect from me anyway! – at $280′s.  You can call me if you want a private showing.

I just returned from a week away from Perrysburg. In Orlando.

And if you spend enough time there – at conferences, conventions, and meetings (and at Disney and Universal when the kids are growing up) you ALMOST feel as if you are a part time resident.

Well my wife and I now feel that way.

But we have always resisted the urge to buy real estate there. Always.

And we are now very, very glad that we did.

40,000+ homes went under the gavel in the month of June alone in Florida. That is 1 out of every 200 houses in just one month in Florida.

And my “Realtor trained eyeballs” told me that there are a lot of problems in Orange County. Talking to some Orlando based Realtors at the 2 conferences I was at confirmed it. (you can check out the Case Shiller raw numbers yourself here at the S&P site: http://www2.standardandpoors.com

What did I learn?

That we should not in any way complain about the terrible real estate market we are experiencing in Northwest Ohio. Are problems are nothing compared to the problems that Orlando is just beginning to face.

House after house is for sale.

And worse than that . . . are the “zombie properties” that the banks will not even foreclose on or take back. These properties are so unsellable and so overvalued that the banks let the upside down sellers stay in them waiting for 12 to 24 months for a future day of financial reckoning.

There is no good news in Orlando if you own real estate. If you don’t?  Well call me and I will refer you to a great buyer’s agent who will – in about 12 months – help you to invest in property at about 50% off of what it is “worth” today. That’s when I will be buying.

But Perrysburg?  We will see nothing and have seen nothing like this.

Our banks are stronger. Our homes are worth more – and they never were bid into the stratosphere. Our economy is much more diversified.

It was good to come home.

The new Case Shiller Index numbers are out. Just released.

What are they? What does that have to do with Perrysburg real estate?

Well, right or wrong, they are a compendium of numbers put together by a think tank/number crunchers who look at average prices in major metropolitan areas. These numbers are heavily relied upon by real estate, relocation, government, and lending industry people when THEY need “average” numbers.

So they are important.

Case Shiller does not have a “Perrysburg” number. Or a Toledo number. Case Shiller numbers do not include new homes and are only supposed to include “arms length” transactions of repeat sales, making them very valuable data points – they are, therefore examples of the same house selling again to different people at different points in time.

Get enough data that way – and you know what the market is like.

Except that . . . all markets are local. And different. And this town is different than Rossford. And that town? Different than Perrysburg. And Crandenbrook? Very different than Lakemont.

Anyway, the Case Shiller numbers are out.

And they are bad – if you are selling.

Good if you are buying.

Housing values have dropped in the Detroit MSA, which is the closest “Case Shiller” city to Toledo and the most similar MSA in my opinion, by -18% in just 12 months.

Hard to believe.

Hard to imagine.

Have values gone done that much in Perrysburg in 12 months?

Ask an appraiser.

Ask an owner who is trying to sell

Ask an expert.

You won’t like the answer . . .

It is not every day you get to put a home for sale that you either owned or ALMOST owned.

Today is one of those days – at least for me.

In my old favorite part of Crandenbrook there is a great home that I almost bought about 10 years ago.

Now the people that I sold it to have to move. Down to Texas. And they called and we just put it on the market.

It’s loaded – 1st floor master suite. Hardwood floors. Great room. 5 beds. 1st floor den. Finished basement. Open kitchen that invites the family into the action all the time.

And my favorite feature . . . the Bilco door in the basement.

Too new for pictures. You can see it by . . . well, you can contact me to see it. I should have bought it ten years ago.

Would have. Should have. Could have.

Hind sight is always perfect. Sigh.

Homes for Sale

• Listed Homes Active:  3
• Vacant Listings: 0
• Average Asking Price: $278,145
• Offering Bonus Commission:  0
• Offering Reduced Selling Agent Commission: 3
• Price Reductions: 2
• Short Sale: 0
• Months Supply: 7 (MLS Area 53 MSI

Pending Sales

• Listings Pending Closing:  0

Sold Past 6 Months

• Closed Sales:  7
• Average Sales Price: $257,303
• Lowest Sales Price: $148,600 (Plat 1)
• Highest Sales Price: $317,525