Cleveland Housing Market Woes

I don't intend for this to be a typical type of post to this blog, but it is something that is on my mind and an important warning to those out there who are house hunting...

This is a warning to those thinking about taking advantage of this "buyer's market." While it is a great time to buy—rates are still fairly low (but rising) and prices are low and sellers are willing to do just about anything to sell—be prepared to jump through hoops to actually get those keys.

At the end of January my partner and I entered into a contract on a new, under construction condo. Months later we have had to get out of the contract because the builder NEVER STARTED construction and was unresponsive. Now, we have found another place that we absolutely love, but it may be unavailable because another local builder is having problems. We're still trying to find out the details and hope everything works out. We may even buy the unit incomplete, as is, and higher our own contractor to finish it out.

Advice—buy something completed if you want to get in right away. If you are looking at something new that isn't ready to move in, be prepared to wait and be on the phone every day pestering the developer to complete your home.