Reiterating what our referring attorneys advise many clients; Tax Attorney Robert W. Wood addresses importance of Contemporaneous appraisals in estate planning in his September 30 contribution to Forbes at Forbes.com
Forbes Underscores Appraisals for Tax Planning
March Case Schiller Posts Mixed February Numbers for Cleveland OH Housing MarketThe Case Schiller Index published this morning posts a 1.2% seasonally adjusted February 2011 gain over January 2011. Non Seasonally adjusted price index slipped 0.8%. Both price indices are still lower than the February 2010 numbers. The market still trails far behind pre bubble levels and the levels remain below those over one decade ago.
Summit County Single Family Bouncing Back in FebruarySummit County single family residential sales prices released March 8, 2011 by the Regional MLS show sizeable increases in both Average and Median sales prices for February closings after large declines in January. The average price of properties closed at $114,694, or 14% higher than the prior month. Median prices increased 32% with the median sales price closing at $87,250 during February. Average and Median prices are still slightly trailing behind the December 2010 numbers.
Summit County Residential Sales Prices Decline Sharply in JanuarySummit County single family residential sales prices released February 4, 2011 by the Regional MLS show large declines in January as sales prices plummet from December. The average price of properties closed at $100,295, or 17% lower. Median prices plummeted nearly 31% with the median sales price closing at $66,000 during January.
Summit County Residential Sales Showing Mixed MarchSummit County single family residential and condo sales prices released April 7, 2011 by the Regional MLS show mixed signs as Average and Median sales prices for February closings canter after gains made in February. The average price of properties closed at $116,282, or 1.3% higher than the prior month. Median prices decreased 36% with the median sales price closing at $75,000 down from $87,250 during February. Average prices are still slightly trailing behind the December 2010 numbers while median prices are far behind those in December 2011.
Cleveland Home Prices Still lagging 2010 per Case ShillerThe S&P/Case-Shiller released June 28, 2011 (indices through April 2011), are still showing declining conditions from April 2010 in the Cleveland Market. Non-Seasonally adjusted index climbed a little over one point, however seasonally adjusted slipped less than one half point from March 2011. Both indices are down over 6.7% from April 2010. Link: Case Shiller
Cleveland Seaonally Adjusted Prcies Decline, Again, Per Case SchillerWhile some local Northeast Ohio residential markets are experiencing strong demand and price increases, the overall market still has signs of weakness. The S&P/Case-Shiller released August 30, 2011 (indices through June 2011), seasonally adjusted price index slipped for the fifth straight month. The
seasonally adjusted index is at the lowest level since November 1999
slipping 0.3% from May 2011. Non-Seasonally adjusted index climbed a little over 1.5% in June, signalling the summer selling season. |
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