Medina County Values Heading Back Up

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) April 1, 2010 -- Medina County Auditor Mike Kovack looked at his numbers. Then he checked them. Then he checked them again. It was a sight he hadn't seen since late 2007. Every transfer that occurred that day sold for more than the auditor's value. It was only one day, and it wasn't by much, but Auditor Kovack was hoping it was a sign of better times.

"Medina County was late to come to the recession", Kovack said. "And I have always thought that our strengths would help us lead the region out of the recession. I hope this is the first sign of that."

Medina County, like all of northeast Ohio, has seen home values drop over the past several years. Auditor Kovack expects most Medina County residential values to be reassessed downward between 3% and 10% for the three-year reappraisal this summer. Because of Medina County's location and its excellent school systems, it has been the hub of new home construction for the entire region for a number of years.

"That has been a large part of our economic success these past two decades. However, when the recession came, new home construction ground to a halt, but now we are starting to see that pick up again." Kovack said about the new construction.

The upward trend in home values coincides with spring weather. Spring is traditionally a time when home sales begin to pick up. And as people begin to look at homes again it appears Medina County will once more be a destination of choice.