CLEVELAND, OH REAL ESTATE NEWS

Northeast Ohio community & neighborhood news and home information

Two young males were involved in a Friday afternoon argument at a home on Cleveland's East Side which led to a shooting, leaving one dead and the other in critical condition. Full story »

Motorists are paying the highest prices for gas since October 2008. Retail gasoline prices rose today on an expected increase in demand and as more expensive spring and summer blends of gasoline make their way to the pumps. Full story »

The average rate on a 30-year fixed rate mortgage edged up to 4.96 percent this week from 4.95 percent a week earlier, the mortgage finance company Freddie Mac said today. Full story »

The manufacturer presented site plans during a meeting Monday night. Eaton will ask Beachwood's planning and zoning commission later this month to consider a variance allowing fewer parking spaces on the 53-acre campus in Chagrin Highlands. Full story »

The shopping center owner plans to use proceeds from the offering to repay debt. Full story »

The Finch Group, a developer based in Florida, acquired 11 apartment buildings near Shaker Square today, through a deal with the city of Cleveland and the U.S. Department of Housing and Urban Development. The developer plans a $12-million project at the property, an affordable-housing complex called Livingston Park Apartments.  Full story »

The Obama administration's mortgage relief plan has helped only about 16 percent of borrowers who signed up since its launch last year, and hundreds of thousands of homeowners are in limbo without an answer. Full story »

FHA commissioner David Stevens said during a House hearing that his agency would back 300,000 fewer loans per year if the mandatory down payment was hiked from the current level of 3.5 percent to 5 percent. That's a 40 percent drop. Full story »

Mortgage rates have held below the 5 percent threshold for the second straight week, only weeks before a government program that has been keeping rates low is scheduled to expire. Full story »

The foreclosure crisis isn't over, but the pace of growth may finally be slowing down. RealtyTrac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from the year-ago level, the smallest annual increase in four years.  Full story »

NAI Daus, a Beachwood commercial real estate firm, said today its brokerage division has acquired the property management operations of ASW Properties Ltd. of Akron.  Full story »

Overall, 7.3 percent of the debt held by banks and thrifts was past due 30 days or longer at the end of 2009, the association reported. That rate was .44 percentage points higher than at the end of the third quarter and 1.3 percentage points for single-family mortgages. Full story »

At least one rival bidder has made an offer on Chrysler's Twinsburg Stamping Plant. Cleveland's Park Corp. made its $27.5 million bid last month.  Full story »

To see the turmoil in commercial real estate, you don't have to look much further than East Ninth Street and Superior Avenue in downtown Cleveland. This corridor is the local face of a national problem -- one that is troubling in Cleveland but more severe in overbuilt markets like Las Vegas and Miami and battered cities such as Detroit. Across the country, a wave of office buildings, shopping centers, hotels, apartment properties and industrial facilities could be returned to lenders or foreclosed upon during the next few years. Full story »

The Treasury Department was forced Friday to reiterate its financial support for Fannie Mae and Freddie Mac after a key lawmaker rattled investors by pointing out that their debt does not enjoy the explicit guarantee of the federal government. Full story »