OPEN HOUSE 6440 Sherman Ave Anderson Township
Posted on | July 29, 2010 | No Comments
OPEN HOUSE
6440 Sherman Ave., Anderson Township, Ohio
Sunday August 1st, 2010 3-5pm
6440 Sherman Avenue
Anderson Township, Ohio 45230
$94,999
Come take a look at this great 3 bedroom 2 full bath home in Anderson Township. We’ll be having an open house on Sunday August 1st, 2010 from 3-5pm. If you can’t make it during that time, please call Matt at 513.259.8333 to schedule another time to view it.
This home is a little deceiving from the outside. Once you get inside, you see all 1248 square feet and it is much bigger than you expected. It has 3 bedrooms (one on the first floor, and two upstairs), and 2 full baths. All the appliances are staying, even the washer and dryer! This house is truly move in ready.
Stop by and take a peek. OPEN HOUSE Sunday August 1st, 3-5pm.
This electrical job probably doesn’t meet code…
Posted on | June 30, 2010 | No Comments
Yes, this is an actual photo taken from a Cincinnati home inspection.
Can you guess what is wrong with this picture?
A) The vent pipe is blocked by wires
B) The wires are too short
C) The wires are the wrong color
This is an easy one..
Correct Answer is A) The wires are blocking exhaust air from escaping the vent pipe outside, which creates a fire hazard.
Thanks to Greg Eckert of National Property Inspection for the great photo.
Norwood Ohio Real Estate Market Update June 2010
Posted on | June 22, 2010 | No Comments
It is now almost the end of June 2010, and although the first half of the year hasn’t been a walk in the park, there are some good signs trying to break through a challenging real estate market. All of the data below is pulled from January 1st, 2010 through June 17th, 2010.
ACTIVE: Currently there are 130 homes for sale in Norwood ranging from $17,900 to $299,890. The average days on market for these listings is 106 days. Want to see all the Norwood homes for sale currently?
PENDING SALE: 26 homes in Norwood, Ohio are currently under contract and moving towards closing.
SOLD: So far this year, 90 homes have sold in Norwood with an average of 50 days on market! The cheapest sale so far in 2010, $12,000. The most expensive sale of $283,750. 50 days on market is a great time period and this is down from 67 days in the previous year.
This graph shows what percentage of homes have sold in how many days.
How is 2010 shaping up in comparison to last year? Over this same time period in 2009 there were 89 sales (roughly the same as this year). The days on market was a little bit longer at 67 days average (compared to our 50 days average in the first half of 2010). Days on market, which is an important metric that shows how long it might take to sell your Norwood Ohio home, has decreased since last year which is a good sign that the market is clearing through some inventory and homes are being priced more correctly for the market price. Last year, the average listing price for the sales in the first half of the year was around $97,000 with an average sale price of around $90,000. In 2010 this has IMPROVED to an average listing price of about $117,000 and a sale price of about $112,000.
Below we see how the sale price compares with the listed price. In a perfect market, the sale price would be 100% of the listed price, meaning you achieve the total price you want.
Norwood home sales have surely benefited from the First Time Home Buyers Federal Tax Credit which has now expired. Lots of first time home buyers snatched up homes in the first four months of this year to qualify for the $8,000 credit. The true test of how the market is doing will be in the next few months when we see sales data from after the tax credit.
Want more information? Want to search the MLS for Norwood homes for sale? Want to know what that house next door sold for? Please feel free to call me anytime to chat!
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Cincinnati CiTiRAMA 2010 in Northside!
Posted on | May 18, 2010 | 2 Comments
Despite Homearama 2010 being delayed/canceled, the Home Builders Association of Greater Cincinnati is going full steam ahead with CiTiRAMA 2010 being built in the Northside neighborhood! Cincinnati CiTiRAMA is in it’s 9th year and runs from June 3rd – June 13th 2010.
For a limited time, I am offering CiTiRAMA pre-sale tickets at half price, just contact me for details!
CiTiRAMA 2010 is being built in the Rockford Woods neighborhood of Northside. Seven new homes are being built for the CiTiRAMA show but Rockford Woods is a 36 lot development so there is definitely room for your new home to be built in this CiTiRAMA neighborhood if you act fast!
Cincinnati CiTiRAMA is a little bit different from the Homearama show. CiTiRAMA features homes priced from $205,000 and topping out around $290,000. The really cool thing about this year’s CiTiRAMA is that some of the homes have a conscious! Green building is not just a niche trend anymore…GREEN is MAINSTREAM!!
This year’s builders include:
- Perry Bush Custom Homes
- Potterhill Homes
- Maple Street Homes
- M/I Homes
- Greystone Homes
- John Hueber Homes
- Maronda Homes
Here are some construction photos taken while I was over there last week..
This year’s CiTiRAMA show runs from June 3rd – June 13th 2010. Hours are 4pm-9pm Monday thru Friday and noon to 9pm on Saturday & Sunday. Click here for directions to Cincinnati CitiRAMA 2010 at Rockford Woods in Northside. Tickets are $7 for adults, children under 12 are free.
For a limited time, I am offering CiTiRAMA pre-sale tickets at half price, just contact me for details!
Cincinnati housing market after the tax credits expire
Posted on | May 10, 2010 | No Comments
Some people seem worried about what will happen after the Federal Tax Credit expires. Will people still be buying homes in Cincinnati or will the market come to a screeching halt? Want to hear my two cents? The tax credit definitely made people push their purchase decisions into high gear during the first quarter of 2010, but buyers, even first time home buyers are still out there in the market even after the expiration of the tax credit. I even had a few first time home buyers that didn’t rush to buy because the $8,000 wasn’t even important in their decision.
A recent survey done by Prudential Real Estate and Relocation Services shows that the end of the federal tax credit will not deter buyers from continuing to buy homes.
Want the stats?
- More than 90% of those surveyed believe the home buyer tax credits have helped both first-time buyers and the overall housing market, but 65% say that the end of tax credits won’t reduce their personal interest in buying a home.
- Over the next five years, 79% expect real estate prices to increase and 20% expect prices to rise substantially. Only 12% believe prices will decrease.
- Among renters, 75% believe owning a home is a better long-term choice for them than renting.
- The majority of consumers also believe that homeownership is a good investment, with 75% saying it is better than stocks or bonds, 72% preferring it to mutual funds and 74% saying it surpasses savings accounts.
We have seen an increase in activity during the first quarter of 2010 with many people wanting to take advantage of the federal tax credits, but the Cincinnati housing market will continue to move in the right direction even after the expiration of the tax credits. Interest rates are at historical lows, homes have become more affordable, and let’s face it; everyone needs a place to sleep.
(Survey Source: Prudential Real Estate and Relocation Services, Inc.)
The federal home buyer tax credit has now expired…now what?
Posted on | May 8, 2010 | No Comments
The federal home buyer tax credit has now expired…now what?
You may or may not have realized, but the $8,000 tax credit for first time home buyers and the $6,500 tax credit for repeat home buyers expired after April 30, 2010. If you got into an accepted contract before that date, you still have until the end of June 2010 to close the sale to claim the credit.
Has it been extended? NO. The tax credit is over and there isn’t any substantial talk about bringing it back for another go around. Economic data pointing to an improving economy and decent home sales data can be blamed for that. If it is extended again, or if any new incentive programs are introduced, I will let you know right away! Want to be sure not to miss a beat? Subscribe to my RSS feed, or sign up for email blog alerts.
Now what? No more free money?
Well..yes, and no.
The federal tax credit is over, but there are plenty of great incentives being offered by other sources. These can vary state by state or city by city, so we’ll just focus on incentives being offered by the Ohio Housing Finance Agency (or OHFA for short).
Grants for Grads
- Are you a recent college grad? (within 18 months)
- Went to highschool & college in Ohio?
- Are you a first time home buyer?
- You may qualify for the OHFA Grants for Grads Program which will give you a grant good for 2.5% of the home’s purchase price to be used for downpayment, closing costs, and other prepaid expenses.
- Get more details on the Ohio housing Finance Agency Grants for Grads Program
Ohio Heros
- Are you an Active Military, Active Reserve, Veteran, Firefighter, Emergency Medical Technician, Paramedic, Health Care Worker, Teacher, or Police Officer? Well if you are, you should already know that you’re a HERO, but there is also a home ownership program just for you!
- Are you first time home buyer?
- You could qualify for an interest rate that is 1/4% lower than the going rate
- Get more details on the Ohio housing Finance Agency Ohio Heros program
First time homebuyer
- Are you a first time home buyer?
- That’s it! OHFA might have a program that you’ll qualify for! There is a first time home buyer program that will get you competitive interest rate, currently 5% (on May 5,2010). This may be lower than banks are currently quoting you!
- Get more details on the Ohio housing Finance Agency First time homebuyer program
Still haven’t seen enough free money out there for you? Here is a really relevant one..
Down Payment Assistance Grant
- Are you eligible for one of the above programs?
- You may be eligible for down payment assistance for 2.5% of the purchase price of the home!
- You can use this money to pay for your down payment, closing costs, and other prepaid expenses
- The interest rate on your loan will be 1/2% higher than the current rate but rates are still at historical lows!
- Get more details on the Ohio housing Finance Agency Down Payment Assistance Grant
As always, if you have any questions about any of these programs, I’d be happy to speak with you! Just give me a call, or send me an email!
Visit the Ohio Housing Finance Agency website for more details on these great programs:
Grants for Grads
Ohio Heros
First time homebuyer
Down Payment Assistance Grant
2009 Cincinnati home buyers and sellers
Posted on | February 19, 2010 | 1 Comment
I was recently reading through the 2009 Profile of Home Buyers and Sellers for Cincinnati, Ohio and noticed a few interesting statistics…
Cincinnati Home Buyers
- 47% of home buyers were first time home buyers
- 20% of recent home buyers were single females (compared to 10% single males)
- 76% of home buyers considered commuting costs very or somewhat important
- 77% of home buyers used the internet
- 80% of home buyers viewed their Realtor as a very useful information source
- The typical buyer searched for 12 weeks and viewed 12 homes (this is also the national average)
Cincinnati Home Sellers
- Sellers received 94% of their asking price but 62% of sellers said they had to reduce their price at least once (both of these numbers are in line with the national average)
- 46% of home sellers gave incentives like home warranty’s or help with closing costs to attract buyers
- Of the 9% of home owners that sold “for sale by owner,” half of them already knew their buyer, but only 10% of these “for sale by owners” sold in the length of time they planned
Feel free to look through the entire summary report here:
2009 Profile of Cincinnati Home Buyers and Sellers
December home sales RISE in Cincinnati
Posted on | February 11, 2010 | 1 Comment
December sales rose again over the previous year making the seventh straight month of increased home sales in Cincinnati. Although the Cincinnati real estate market is still challenging, there are a few great things contributing to the increased sales:
- Very low interest rates on mortgages
- Tax credits
- Plenty of choice for home buyers
As the market stabilizes, these incentives will start to disappear. Mortgage rates are expected to rise in 2010. Although they will probably still stay at a historically acceptable level, the more they rise, the less home you’ll be able to afford.
The federal tax credit for first time home buyers and existing home owners is set to expire after April 30,2010. You must be “in contract” by the end of April and close on the sale by the end of June.
As the market stabilizes more, there will also be a little less choice for buyers (which will shore up prices for sellers). We’ve already seen the months of inventory decrease from 10.38 months a year ago to currently 8.87 months. A balanced market is around 6 months of inventory. Decreased inventory of homes on the market is great for sellers, but it will leave less choice and less room to negotiate for buyers.
| — Homes | Sold — | Improvement | |
| 2009 | 2008 | 2009 | |
| December | 1,311 | 1,279 | +2.5% |
| November | 1,585 | 1,179 | +34.44% |
| October | 1,742 | 1,499 | +16.21% |
| September | 1,832 | 1,649 | +11.10% |
| August | 1,830 | 1,776 | +3.04% |
| July | 2,007 | 1,866 | +7.56% |
| June | 1,977 | 1,940 | +1.91% |
Check out the press release from the Cincinnati Area Board of Realtors for more information.
2009 HOME SALES SURPASS 2008
Ohio Housing Market Compared
Posted on | January 28, 2010 | No Comments
Let’s compare our Cincinnati housing market to other cities in Ohio.
Units Sold
| 2008 | 2009 | Change | |
| Cincinnati | 17,493 | 17,457 | -0.2% |
| Columbus | 19,295 | 18,771 | -2.7% |
| Dayton | 10,556 | 10,178 | -3.7% |
| STATEWIDE | 105,015 | 96,022 | -8.6% |
Sale Price
| 2008 | 2009 | Change | |
| Cincinnati | $163,825 | $150,563 | -8.1% |
| Columbus | $165,377 | $157,352 | -4.9% |
| Dayton | $126,139 | $122,123 | -3.2% |
| STATEWIDE | $138,276 | $129,437 | -6.4% |
Although our sale prices of Cincinnati homes are being weighed down a little more than other Ohio cities, sales are still happening at a much better rate than the Ohio housing market as a whole. This is helping to get rid of the excess inventory that is currently on the market. The sooner our supply gets back in check, the sooner sale prices of Cincinnati homes will start to appreciate again.
How long will it take my home to sell?
Posted on | January 21, 2010 | No Comments
“How long will it take for my home to sell?” This is a question I hear from Cincinnati home sellers a lot these days. For a little more clarity on the subject, I want to explain two concepts that you’ve probably heard your Realtor talk about.
- Days on Market and
- Absorption Rate
Days on Market (DOM= our abbreviated version) is simply the amount of time a home was on the market before the seller accepted a contract and the home went “pending sale.” Although you won’t be able to see this figure when you’re looking at Cincinnati real estate listings online, your Realtor can provide this to you. Days on Market does start over at zero when an expired home re-lists after it has expired. Because of this, you should look at the CUMULATIVE Days on Market for the home to get a true picture.
Absorption Rate is the rate at which homes sell. If there are 10 homes on the market in your neighborhood, and only 5 homes sold all of last year, this means it could take the market two years to absorb (or sell) that current inventory of 10 homes. This figure assumes that no new inventory comes on the market.
Both of these figures are very important as you plan how fast you need to sell your home. If there is two years of inventory in your neighborhood and you need to sell by next month, you will need to come up with a marketing approach that will make sure you are the first to sell out of the group.
For the days on market or absorption rate for your specific Cincinnati neighborhood feel free to get in touch with me and I’ll be happy to provide this to you.
Recently Written
- OPEN HOUSE 6440 Sherman Ave Anderson Township
- This electrical job probably doesn’t meet code…
- Norwood Ohio Real Estate Market Update June 2010
- Cincinnati CiTiRAMA 2010 in Northside!
- Cincinnati housing market after the tax credits expire
- The federal home buyer tax credit has now expired…now what?
- 2009 Cincinnati home buyers and sellers
First Time Home Buyer Guide:
Are you a first time home buyer or just in need of some creative ideas for your home? This Creative Ideas Guide from Lowes features great tips on painting, how to be more green, and easy updates to make your home standout.
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