Tag Archives: Real Estate

Cleveland’s East Side: A Pictoral Tour

 

Downtown Cleveland as viewed from the St. Clair Superior Neighborhood

Downtown Cleveland as viewed from the St. Clair Superior Neighborhood

A friend of mine took me on a tour of the St. Clair-Superior Neighborhood on the near east side of Cleveland yesterday. This neighborhood is one of the hardest-hit by the housing crisis. Only about 10 percent of the housing is occupied. A local real estate investor has taken an interest in the neighborhood because of its low real estate prices and proximity to downtown and Lake Erie.

We began our tour at an east side park with a nice view of Lake Erie. A lot of people dock their boats here.

 

Beautiful Lake Erie

Beautiful Lake Erie

Then, we traveled into a residential neighborhoods. Signs of the housing crisis were everywhere.

The Housing Crisis in St. Clair-Superior

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Our investor friend was nice enough to take us inside one of the empty buildings he’s renovating into a storefront and apartments.

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A little of what he's dealing with.

A little of what he's dealing with.

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As we continued looking around, signs of violence were apparent.

Saw a lot of this

I believe this is a memorial to a dead child
I believe this is a memorial to a dead child

Also there was lots of gang graffiti.

 img_10822The real estate investor we ran into assured us it’s relatively safe. There’s not a whole lot of people still living in the area and the police pay close attention, he said.

We actually visited an old school where artists were living. The school was purchased by the nation’s youngest black C.E.O., Ephren Taylor, as an investment and experiment.

See shots of the school-turned artists colony at http://realneo.us/Preview-of-Hodge-School-Arts-Open-House.

Before we left, we stopped at Angela’s Diner, a local hangout. Pretty good breakfast. Nice crowd. This woman’s making my corn beef hash.

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Introducing … the $1,000 House

About 200 homes are on the market for absolutely nothing right now in metro Detroit, the Detroit News reports. Three Detroit-area homes are listed for $1. At $1,000, you can have your pick of another 200.

Real estate news doesn’t get much worse than this.

According to The News, more than half the homes sold in southeast Michigan last year, with the exception of St. Clair County, were in foreclosure. In St. Clair County, traditional sales beat foreclosures by one transaction.

In Detroit, the average sale price of a house is $7,000. Last week, Century 21 Town & Country, the region’s second-largest real estate brokerage, filed for Chapter 11 bankruptcy protection.

Yikes.

http://detnews.com/apps/pbcs.dll/article?AID=/20090223/METRO/902230326/1409

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