Investing In Cleveland, Is It Worth It?

Investing In Cleveland, Is It Worth It?


choosing Cleveland for real estate investment

People think about money when they invest in real estate. There are numerous compelling reasons for this.  Real estate is a scarce resource. After all, it is impossible to manufacture additional land. As a result, real estate is widely regarded as a sound investment. However, it must be recognised that conventional wisdom regarding real estate is evolving. This almost certainly has to do with the economy.  And choosing  the best place to put  your money requires these  factors.  We listed the following reasons why choosing Cleveland for real estate investment is your best bet!

  1. MAJOR REDEVELOPMENT PROJECTS ARE REVITALIZING THE CITY.

New life is being breathed into former desolate neighborhoods and, as they begin to flourish, property values there are likely to rise too. For instance, the Opportunity Corridor is being created in the southeastern part of the city in an area formerly referred to as the “Forgotten Triangle.” The new boulevard, being completed in phases through 2021, is intended to spur growth in the Slavic Village, Kinsman, Buckeye, and Fairfax neighborhoods, which have experienced long economic stagnation. City planners envision the creation of high-tech medical research centers, skilled jobs in advanced manufacturing, including jobs in retail along the corridor.

The new jobs this redevelopment brings will draw people and families who will look to buy homes that are conveniently located for getting to work, shopping, and entertainment.  Besides creating new jobs, the Innovation Zone is creating a new atmosphere in the neighborhood and adding to its attractiveness for homebuyers. If you can find a distressed house for sale in this area, your investment is very likely to do well by your bank account.

  1. NEW COMPANIES ARE SPROUTING UP CLEVELAND.

New companies bring new people to the city and new money to the local economy, creating more prosperity that will enable and encourage people to buy houses. The city’s Health-Tech Corridor is attracting businesses like never before. Link59, the 62,000 square foot addition to the complex that opened earlier this year, was built on speculation, with no tenants lined up. Now it is nearly full, and development of the corridor is continuing.

  1. EMPLOYMENT IS UP.

The job market in Cleveland is already becoming tighter, which is good news for the real estate market because more people with jobs means more people who can afford better housing, or even become first-time home buyers.      Manufacturing, trade, transportation and utilities, professional and business services, as well as leisure and hospitality were among the sectors with big gains. In the long term, healthcare is expected to become a major source of job growth, with 85,000 new jobs expected to be created between 2015 and 2025. Hot spots will be in the redevelopment areas around Cleveland in corridors that concentrate new businesses. Investment properties near these and other centers of activity are likely to find a bull market after renovation.

  1. HOUSING PRICES ARE UP.

Cleveland’s economic progress is beginning to be felt in the reviving housing market. As of April, house prices were up 6.5% year-on-year. There have even been some months since mid-summer when sellers were getting more than their asking prices. Opportunities are not spread evenly, though. There are sections of the city where the price gain on houses considerably exceeds the average. This rising market only means things will get even better for returns as the year progresses.

  1. CIVIC LIFE IS THRIVING.

Cleveland is becoming a nicer place to live, and this will also draw people to the city to buy houses. The Cleveland City Council voted in late 2017 to create the Superior Arts Improvement District to enhance the arts community with increased services. Redevelopment has converted historic factory buildings into studio, housing, and retail space, and property prices in the neighborhood are rising fast. These developments have improved the quality of life in the city, intangibly and significantly, which has encouraged people to move their businesses to Cleveland, and move here to work. That, in turn, has bolstered the real estate prices.

If you need to know more information about choosing Cleveland for real estate investment, CPD Homes, LLC is here to help you. CPD Homes is a Cleveland, Ohio based company here to help homeowners out of any kind of distressed situation. Whether you are a struggling landlord, or just want a sound investment yielding significant ROI, we are here to help. Our mission is to enable our clients and partners to preserve wealth through offering impeccable customer service and advisory services.   As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what!  There are no fees, up front costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation. Our slogan is Community.  Pride.  Development. so we are looking to help the areas we love by focusing our attention on creating the best outcome for both our business, investments, partners and clients.

Give us a call at  216-619-4387, or visit www.cpdhomes.com. We’ll be more than happy to assist you.

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