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- 📰 All Eyes on Mentor City Council Meeting, Real Estate Market Outlook
📰 All Eyes on Mentor City Council Meeting, Real Estate Market Outlook
Issue #412
In this Mentor Local Buzz Issue…
🌨️ Weather: Possible Snow Showers in AM, Windy, Cold - Temps 18-20
🎉 Events: 50+ Live Events. Direct Link to Mentor Live Events
📰 Local News: 📰 All Eyes on Mentor City Council Meeting Scheduled on Tuesday
📰 Joann Files for Bankruptcy Again, Plans Massive Store Closures
🧑💻 Mentor Public Library Offering Free Computer Classes in February
👨👩👧👦 Special Section: Real Estate: 🏡 Real Estate Market Outlook for 2025: Should You Buy, Sell, or Hold?
🏘️ Featured New Home Listings for Sale in Mentor, Ohio (44060)
🏀 Sports: 🏀 Lake Catholic Wins Sectional Title with 68-47 Victory
🤔 Trivia Question
🤣 Something Funny
Possible Snow Showers in AM, Windy, Cold - Temps 18-20
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👉 Mentor Live Events 👈
Feb 17
Complete list of events and all the details in the link above “Mentor Live Events”. New Events Added Daily.
See All the Upcoming Events Here at:
Mentor Live Events!
50+ Event Dates
📰 All Eyes on Mentor City Council Meeting Scheduled on Tuesday
City of Mentor City Council
Tuesday’s Mentor City Council meeting is drawing significant attention, but not for typical city business. Councilman Scott Marn is at the center of controversy following a 2024 altercation outside Buffalo Wild Wings and a federal lawsuit filed against accusing him of serious allegations.
City Council is expected to formally call for Marn’s resignation, citing "gross misconduct and a violation of his oath of office." As the meeting approaches, all eyes will be on how council members handle the situation and whether Marn will step down.
Mentor City Council will meet at the Mentor Municipal Center on Tuesday from 7:00 pm to 8:00 pm. Meetings are open to the public, and the agenda can be viewed online.
📰 Joann Files for Bankruptcy Again, Plans Massive Store Closures
Joann, the long-standing fabric and craft retailer based in northeast Ohio (Hudson), is set to close approximately 500 stores—over 60% of its locations—after filing for bankruptcy for the second time in less than a year. The company cited declining sales and financial struggles as key factors in its decision, stating that reducing its store footprint is necessary for its survival.
The closures will affect stores across nearly every state, with California, Florida, Pennsylvania, and Ohio seeing some of the highest numbers of shuttered locations. Joann had previously filed for bankruptcy in March 2024, reporting around $1 billion in long-term debt. Despite restructuring its finances, the company continued to struggle, ultimately leading to another bankruptcy filing in January 2025 as it prepares for a potential sale.
Industry experts suggest that Joann has faced mounting challenges, including difficulty maintaining inventory and increased competition from both online retailers and brick-and-mortar rivals like Hobby Lobby and Michaels. Additionally, financial uncertainty made it harder for suppliers to do business with the company, further weakening its position in the market.
Interim CEO Michael Prendergast acknowledged the difficulties, stating that economic pressures and constrained inventory levels left Joann with no choice but to pursue a court-supervised sale. While the company hopes to remain in operation, analysts warn that without a successful buyout, Joann’s future remains uncertain.
Read More at npr.org
🧑💻 Mentor Public Library Offering Free Computer Classes in February
Mentor Public Library is hosting six free computer classes this February at its Main Branch, covering essential tech skills such as Microsoft Excel and smartphone basics for both Android and iPhone users.
The scheduled classes include:
Learn to Use Your Android Phone – Feb. 25 at 2 p.m. Attendees will receive guidance on navigating their Android smartphones. Participants should bring their devices.
Excel I – Feb. 25 at 6:30 p.m. This class introduces Excel basics, including worksheet functions, simple formulas, formatting, and printing options. Microsoft Word experience is recommended.
Basic Email – Feb. 26 at 2 p.m. Learn how to send, reply, label, archive emails, and send attachments.
Excel II – Feb. 26 at 6:30 p.m. This session covers formulas, functions, troubleshooting errors, resizing rows and columns, and advanced printing features.
Learn to Use Your iPhone – Feb. 27 at 2 p.m. Designed for iPhone users unfamiliar with their device. Attendees should bring their iPhones.
Excel III – Feb. 27 at 6:30 p.m. This class focuses on advanced Excel features, including hiding and freezing rows and columns, print settings, conditional formatting, and chart creation.
All classes are free, but registration is required. Sign-ups open two weeks before each class and can be completed online at www.mentorpl.org or by calling 440-255-8811, ext. 1.
Additionally, the library provides free online courses through LinkedIn Learning, offering tutorials on Microsoft software and other digital skills. More details can be found at www.mentorpl.org/linkedinlearning.
🏡 Real Estate Market Outlook for 2025: Should You Buy, Sell, or Hold?
In 2025 homeowners and potential buyers face a shifting real estate landscape filled with both opportunities and uncertainties. While some analysts predict growth, others warn of potential challenges. However, rather than relying solely on expert forecasts, the best approach is to evaluate personal goals and financial circumstances when deciding whether to buy, sell, or hold onto a property.
Market Trends and Predictions
During President Donald Trump’s last term, interest rates averaged around 4%, but experts agree that rates are unlikely to return to that level. Instead, most projections place mortgage rates at around 6% for the foreseeable future. The National Association of Realtors (NAR) expects home sales to rise by 9% in 2025 and 13% in 2026, assuming mortgage rates stabilize.
However, other economists suggest that political and economic shifts could influence rates. If Trump introduces tax cuts and new trade policies, the Federal Reserve may only make minimal adjustments, possibly keeping borrowing costs elevated.
Tax Considerations for Sellers
For those considering selling in 2025, understanding tax implications is essential:
Capital Gains Tax: If you sell at a profit, you may owe taxes unless you qualify for an exemption ($250,000 for individuals, $500,000 for married couples who meet ownership and use criteria).
Ownership and Use Tests: To qualify for capital gains tax exclusions, you must have used the home as your primary residence for at least two of the last five years.
Reporting Requirements: If you receive a Form 1099-S, the sale must be reported on your tax return, even if the gains are excluded.
Mortgage Debt Considerations: Any forgiven or canceled mortgage debt could be taxable unless discharged before 2026.
Multiple Properties: Tax benefits typically apply only to a primary residence; second homes and investment properties may be subject to higher taxes.
Making the Right Decision for You
Instead of waiting for perfect market conditions, it’s best to align real estate decisions with personal circumstances. Whether upsizing, downsizing, relocating, or switching from homeownership to renting, the choice should be guided by lifestyle needs and long-term goals rather than market speculation.
Options for Buyers and Sellers
Buyers: Various loan programs and financing options are available, and working with professionals like lenders, accountants, and real estate agents can help identify the best approach.
Sellers: Homeowners can choose between traditional sales, For Sale By Owner (FSBO), flat-fee MLS services, or full-service real estate agents based on their priorities—maximizing profits or minimizing effort.
Read More at Ohiobrokerdirect.com
🏘️ Featured New Home Listings for Sale in Mentor, Ohio (44060)
7504 Demshar Dr., Mentor, OH. 44060
4 Beds, 4.5 Baths, 4,752 Sqft. 0.71 Acre Lot
Sale Price $525,000
Listed by: Denise A. Quiggle Brokered by McDowell Real Estate
Link to Property Listing
7182 Fillmore Ct., Mentor, OH 44060
4 Beds, 2.5 Baths, 2,630 Sqft. 0.4 Acre Lot
Sale Price $420,000
Listed by: Cassandra Karkan Brokered by Berkshire Hathaway HomeServices Stouffer Realty-Fairlawn
Link to Property Listing
7820 Skylineview Dr., Mentor, OH 44060
4 Beds, 2.5 Baths, 3,336 Sqft., 0.51 Acre Lot
Sale Price $389,900
Listed by: Judie Crockett Brokered by Howard Hanna - Mentor
Link to Property Listing
6600 Reynolds Rd., Mentor, OH 44060
4 Beds, 2 Baths, 1,824 Sqft. 0.67 Acre Lot
Sale Price $280,000
Listed by: Clorice L. Dlugos Brokered by McDowell Real Estate
Link to Property Listing
7251 Olde Farm Ln., Mentor, OH 44060
3 Beds, 2 Baths, 1,460 Sqft. 0.34 Acre Lot
Sale Price $269,900
Listed by: Gary Kohl Brokered by Homesmart Real Estate Momentum Llc
Link to Property Listing
Link to Other Listings in Zip Code 44060
🏀 Lake Catholic Wins Sectional Title with 68-47 Victory Over Brookside
The Lake Catholic Lady Cougars secured a decisive victory over the Brookside Cardinals on Saturday, winning 68-47 to claim the sectional championship. Playing on their home court, the Cougars were led by an outstanding performance from Carmella Sowers, who posted a game-high 24 points. Ella Zampedro also made a strong contribution, adding 16 points to the scoreboard.
With this win, Lake Catholic advances to the district semifinals, where they will face Chippewa on Tuesday night at home. The Lady Cougars conclude the regular season with a 13-10 overall record, including a 5-7 mark in conference play.
Highlights from the game - see fan.hudle.com
Photo by Pagie Page on Unsplash
Which animal can hold its breath longer than a dolphin? |
Source: Google