🧠 “Be Careful What You Sign” — New Buyer Rules Unpacked

⚠️ Mortgage Rates, Commissions & Crunches—Explained

July 16, 2025

Good morning, Cleveland Real Estate Investors! 

Why don’t real estate agents trust stairs?

👉 Because they’re always up to something! 🏡

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📬 In today’s edition:

  • 🛥️ All Aboard: New Water Taxi Hits the Cleveland Waterfront

  • 💰 Sold for $415K in University Circle—Here’s Why It Mattered

  • 🧠 “Be Careful What You Sign” — New Buyer Rules Unpacked

By Tyler Finkler - Local Realtor & Appraiser

📰 Cleveland Market Minute

Now arriving: Cleveland’s newest water taxi

First there was the Holy Moses Water Taxi. Then there’s The eLCee2 Water Taxi, which still operates on Fridays, Saturdays and Sundays.

The Cleveland Water Taxi’s Harbor Hopper boat is painted yellow like an old Yellow Cab. But from a distance, it looks more like a waterborne school bus. It seats roughly as many people, too — about 50 passengers on benches or in table seating.

GCRTA breaks ground on new E. 79th rail station

Local, state and federal dignitaries braved the hot sun to flip some dirt at the start of the replacement of the East 79th Street Blue/Green Line station.

Sometimes a piece of underutilized infrastructure can be revived to be a part of not only its own rebirth, but that of its surrounding area.

Port OKs financing for Berea, Cleveland, Lakewood, Richmond Hts developments

Redevelopment of the Lakewood Hospital site by CASTO of Columbus will be called Lakewood Common.

The five developments include a large mixed-use project in Berea called District 46, adjacent to the Cleveland Browns training facility; transformation of the former Lakewood Hospital site into a new residential and retail hub called Lakewood Common, and two new mixed-use housing developments on Cleveland’s West side.

1569 E 118th St Apt B, Cleveland, OH 44106

  • 💰 Sale Price: $415,000 (Sold July 14, 2025)

  • 📏 Size: 2 beds | 🛁 3 baths | 1,830 sqft

  • 🌳 Lot Size: 1,376 sq ft (0.0316 acres)

  • 🛠️ Year Built: 2014

  • 🚗 Garage: 2-car attached garage

  • 📝 Investor Takeaway

This modern 3-story townhouse in University Circle just sold for $415K—$227 per square foot—highlighting the rising value of well-located urban condos in Cleveland. Built in 2014, this 2-bed, 3-bath home combines functionality and sophistication with an open floor plan, tall ceilings, and built-ins.

The kitchen is well-equipped with stainless appliances, a pantry, and a built-in oven, while the upper-level laundry and generous room layout make for seamless everyday living. Enjoy downtown views from the private balcony, a spacious 2-car attached garage, and low-maintenance living thanks to the HOA—which covers snow removal, trash, and structure upkeep.

A strong choice for professionals, medical staff, or investors seeking long-term value near Case Western and Cleveland Clinic.

🏡 Neighborhood Insight

  • 📍 Subdivision: University Place Townhomes

  • 🏫 School District: Cleveland Municipal - 1809

  • 💸 HOA Fee: $270/month (includes common area, structure & grounds maintenance, snow removal, trash)

📈 Recent Sales Nearby:

  • 1575 E 118th St Unit A: $400,000 | 2 bed | 3 bath | 1,825 sqft

  • 1563 E 118th St Unit C: $395,000 | 2 bed | 3 bath | 1,820 sqft

  • 11415 Ashbury Ave: $420,000 | 3 bed | 2.5 bath | 2,000 sqft

📌 Notable Features

  • Three-level townhouse with 6 total rooms

  • Tall ceilings, built-in shelving, and open concept layout

  • Washer/dryer on upper level

  • Private balcony with city views

  • HOA covers exterior maintenance, snow, trash

  • Located near CWRU, University Hospitals & Little Italy

  • Central air and forced air gas heating

  • Security system and smoke detectors

  • Assessed Taxes: ~$1,801 annually

💡 Insider’s Insight

🏠 Buying a Home in 2025: Navigating the Crunch

🎧 Insights from The Wall Street Journal | Episode 1

🔍 Is Now the Right Time to Buy?

High mortgage rates, limited inventory, and rising home insurance costs are just some of the factors making homeownership feel out of reach in 2025. In the first episode of WSJ’s special podcast series, “Buying a Home in 2025: Navigating the Crunch,” host Ariana Aspuru interviews real estate and economic experts to help you understand where the market is heading and how to prepare.

💡 Key Takeaways from the Episode:

❗ The New Buyer Reality

  • Mortgage rates are hovering around 6.6%

  • Typical homebuyers now need around $92,000 in income and a 20% down payment

  • Home insurance premiums are rising faster than inflation

🏡 Inventory is (Slightly) Improving

  • National housing inventory is still 16% below 2019 levels

  • Select cities like Miami, Tampa, and Denver are seeing inventory recover

  • More sellers are listing due to life changes — not just market timing

🔄 The Pandemic Effect Still Lingers

  • Some homeowners locked into low 3% mortgage rates are reluctant to sell

  • Markets like New York, Boston, and Northern California remain tight due to limited new housing supply

⚖️ The Power Shift in Agent Commissions

  • A landmark NAR settlement has changed how buyers work with real estate agents:

  • Buyers must now negotiate and sign agreements with agents before touring homes

  • Commission rates must be clearly defined upfront

This shift may cause confusion — and even legal issues — if agreements aren’t properly understood

💬 “Be really careful with what you sign.” – Veronica Dagher, WSJ Personal Finance Reporter

🧠 Final Thought

"Unaffordable… but improving."

— Orphe Divounguy, Zillow Senior Economist

While buying conditions remain tough, buyers may finally be gaining some leverage. With the right prep and the right people in your corner, 2025 could still be your year.

🎧 Listen to Part 2 next Sunday, where you’ll learn practical steps for preparing to buy — or sell — in today’s evolving market.

🏗️🔍 About to Flip a Property or Start a Renovation? Talk to Tyler Before You Swing the First Hammer!

Why Smart Investors Start with Tyler:

📋 Need a sample contract? Want a second opinion on a bid?

Tyler’s just a call away.

Let Tyler help you navigate Ohio’s new real estate regulations and secure your investment with peace of mind!

🏡 House of the Week – Sleek Luxury Living Near Little Italy

26 Meade Lane, Cleveland Heights, OH 44106

  • 💰 Price: $1,300,000

  • 📏 Size: 2,156 sq. ft.

  • 🏡 Built: 2020

  • 🛏 3 Beds | 🛁 3.5 Baths

  • 🚗 Garage: 2-Car Attached Garage

  • 🌳 Lot: Corner Unit in College Club Development

  • 🏫 School District: Cleveland Heights-University Heights City School District

🧘 Vibes: Ultra-modern sophistication with artisanal details. Walkable to Little Italy, University Circle, and Severance Hall—this townhome blends high-end luxury with unmatched urban access. Italian tile, antique lighting, Amish-built stairs, and a rooftop terrace with skyline views make this one a rare gem.

👉 Listed by: David Reimer | Berkshire Hathaway HomeServices Professional Realty

📞 216-798-0750 | ✉️ [email protected]

🛠 Tools & Resources We Recommend

  • PropStream → Lead generation + property comps

  • AirDNA → Short-term rental profitability data

  • BiggerPockets Cap Rate Guide → Know how to calculate investment ROI

  • Cleveland Housing Court Tracker → Spot eviction risks and distressed deals

  • Cleveland Real Estate Investor Facebook Group → Share deals and insights with local investors

📣 Weekly Wrap-Up

This week in Cleveland real estate, it’s all about navigating the new normal—and seizing smart opportunities in a tight but shifting market.

🏡 A sleek University Circle townhouse just sold for $415K, highlighting how high-end, low-maintenance homes near the city core are holding strong value for both professionals and investors. With proximity to CWRU and Cleveland Clinic, it’s a solid play for rental or resale.

🚧 Thinking of flipping or renovating? Talk to Tyler before you demo. From scope of work to payment terms, he helps investors avoid rookie mistakes—and recent changes in Ohio real estate contracts make his guidance even more essential.

🎧 The Wall Street Journal’s new “Buying a Home in 2025” series dropped its first episode, and it’s a must-listen for buyers adjusting to today’s challenges—like 6.6% mortgage rates, higher income requirements, and confusing new commission rules. Spoiler: the market’s still tough, but inventory is improving in pockets.

🏗️ Meanwhile, development buzz continues:

– The Harbor Hopper Water Taxi brings back lakefront connectivity

– GCRTA breaks ground on a revitalized E. 79th station

– And the Lakewood Common project is reshaping the former hospital site into a new mixed-use hub.

🛠️ And if you’re an investor eyeing a move in 2025, now’s the time to line up financing, partners, and your property checklist. Because even in a “crunch,” the right approach = opportunity.

Until next week,

Cleveland Real Estate Investors


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