Cincinnati Open House Weekend 2011 “Show and Sell” Open House Event
Posted on | April 8, 2011 | No Comments
SEARCH ALL CINCINNATI OPEN HOUSES
This weekend, Saturday April 9th and Sunday April 10th, the Cincinnati Area Board of Realtors and the Northern Kentucky Board of Realtors are holding their annual Springtime Open House Event for 2011: Show and Sell!
Local Realtors are holding open over 3,000 homes in Cincinnati alone! This is a great opportunity to go out and look around if you are in the market or thinking about purchasing a home this year.
We couldn’t have bought better weather if we tried; Saturday and Sunday both look like BEAUTIFUL DAYS!
SEARCH ALL CINCINNATI OPEN HOUSES
Come and visit me on Sunday at these great homes!
12-1pm – 200 Logsby Place, Unit E in Milford
1:15-2:30 – 219 W. Stoneridge Drive, in Milford
3-4pm – 2330 Sherwood Lane, in Norwood
Stop by any of these open houses to talk about how you can get pre-approved for a mortgage, how much money you’ll need as a downpayment (as low as 3.5%), and also more information on a great home buyer grant out there right now for $5,000 towards your down payment and closing costs.
Interest rates are at historical lows still!
Housing affordability is great!
And there is a lot of choice out there for buyers!
SEARCH ALL CINCINNATI OPEN HOUSES
Check out these great links for more infomation!
http://www.wlwt.com/money/27469166/detail.html
http://www.wcpo.com/dpp/news/spring-time-%27show-and-sell%27-hopes-to-drive-home-sales
Norwood Real Estate Year in Review For 2010
Posted on | February 22, 2011 | No Comments
Norwood Real Estate Year in Review For 2010
Click here to search ALL Norwood Homes for Sale
Norwood continues to attract new residents not only for it’s great proximity to everything, but also because Norwood offers very affordable homes compared to some other areas around Cincinnati. The number of home sales across the entire Cincinnati area was down about 10% from 2009 and Norwood sales were down as well. In the City of Norwood, there were 146 residential sales in 2010. Sales ranged from as low as $8,500 all the way to over $283,000. Lots of these sales, 66%, closed between January and the end of June which was the closing deadline for the federal home buyer tax credit. Although the real estate market is still fragile, there are some great things contributing to the improving environment:
• Very low interest rates on mortgages
• Plenty of choice for home buyers
• Rents have increased making home ownership a better solution than renting for many people
Mortgage rates are expected to rise slightly in 2011, and we’ve already seen them creeping up slowly throughout the last year. Rates will still stay at historically acceptable levels, but the more they rise, the less home you’ll be able to afford.
This graph shows the breakdown of Days on Market. This shows how many days a house will sit on the market before an accepted contract is reached.
In a January 2011 article, CNN Money.com has rated Cincinnati one of the “undervalued” cities across the nation when looking at housing prices. At an average sale price of $175,347 in Cincinnati, CNN Money.com says that is undervalued by 15%. A few other Ohio cities also made the list, showing that the Buckeye state continues to be a very affordable place to live.
Click here to search ALL Norwood Homes for Sale
This graph shows the sale to list price ratio. If your house is for sale at $100,000 and it sells for $97,000, you’ll have a 97% sale to list price.
The only thing to watch here is that this calculates relative to the final list price before the accepted contract was reached. So if your home started out priced $125,000 and then you reduced the price to $100,000 and got a contract on it at that point, and it sold for $97,000, your sale to list price ratio would still be 97% because it doesn’t take into account your starting list price.
So as the chart shows, once you get your home priced correctly, you can expect the final sales price to be in the mid to high 90% range when it sells within the first four months on market. After four months you see a slight decline. Proper pricing is the most important thing that will dictate how much time your home will be on the market.
To see past year market updates or more information about Norwood, visit www.MattClarkCincinnati.com/Norwood .
Click here to search ALL Norwood Homes for Sale
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Cincinnati Open House Weekend 2010
Posted on | October 14, 2010 | No Comments
Cincinnati Open House Weekend 2010
This weekend, Saturday & Sunday October 16 & 17 is OPEN HOUSE WEEKEND for the Cincinnati area. There are currently over 2,300 open houses scheduled throughout the weekend.
While the weather is still nice, this is a great weekend to get out and look through some homes if you are in the market or are currently thinking about buying or selling.
Here are a couple great open houses I’ll be at!
Saturday October 16th
1-2 pm — 204 Ireland Ave. Green Hills 3 bedroom. Large family room on first floor. Great back deck! $120,000
3-4 pm — 1801 Catalina Ave. Large 4 bedroom on charming street in Bond Hill. $95,000
4-5 pm — 2330 Sherwood Lane. NEW LISTING! Charming Norwood Tudor!! Deck off master, very unique! $185,000
Sunday October 17th
1-2 pm — 200 Logsby Place. Great 2 bedroom Milford Condo…vaulted ceilings, move in ready!! $125,000
3-4 pm — 6440 Sherman Ave. 3 bed/2FULL bath in Anderson. Forest Hills schools. Move in ready! $94,999!
July 2010 Home Sales Report
Posted on | September 9, 2010 | No Comments
July 2010 Home Sales Report for Cincinnati, Ohio
I’m sure you all may have heard news stories the past few days on the July home sales reports that just came out. I wanted to pass along some data to give you an idea of the facts behind the numbers.
July home sales were 35% lower than last years sales. This was expected because of the tax credit accelerating sales to the first quarter of this year that would have normally happened throughout the year.
March closings were UP 15%, April 34%, May 26%, and June 8% over last year. After the expiration of the tax credit, obviously we expected sales to slow down to a more normal rate.
Looking at the year to date picture, home sales are up 3% over last year.
This is all based off data from the Cincinnati MLS.
July Monthly Home Sales
Closings
July 2010 1,302
July 2009 2,008
Variance -35.16%
Year-to-Date Home Sales
Closings Average Price
Jan-July 2010 10,816 $158,259
Jan-July 2009 10,495 $148,840
Variance +3.06% +6.33%
Please click on the link here to see the “July 2010” home sales press release from CABR.
The real estate market is hyper-local, so the headlines in the news don’t always apply to us. You might feel like all you hear is bad housing news…well that’s because good news is harder to sell. This is a challenging market, but it is not the end of the world…
“May you live in interesting times…” Life right now is interesting to say the very least.
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 | No 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
Recently Written
- Cincinnati Open House Weekend 2011 “Show and Sell” Open House Event
- Norwood Real Estate Year in Review For 2010
- Cincinnati Open House Weekend 2010
- July 2010 Home Sales Report
- OPEN HOUSE 6440 Sherman Ave Anderson Township
- This electrical job probably doesn’t meet code…
- Norwood Ohio Real Estate Market Update June 2010
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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Want to follow the trends going on with Cincinnati Real Estate? Head straight over the Cincinnati Real Estate Blog or scroll down some more to learn more about Cincinnati's great neighborhoods. Here you'll also find out more about the marketing services I offer if you are Selling your Cincinnati home or how to become a VIP Buyer if you're Buying a home in Cincinnati.
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