Stable Economy + Affordable Housing = Greater Cincinnati Ohio.

The other night I had the opportunity to spend the evening with a number of graduate students from a variety of universities.  Their number one question- “what is Cincinnati really like?”.  I was ready to launch into a verbal tour of the area - but that was not what they were  really asking. The real question is…. if they uprooted themselves from their university cocoon and moved here- would they be happy?

As we stood out on the steps of the Cincinnati Museum Center and looked at downtown, I pointed to headquarters of  just some of the 7 companies in the top of the Fortune 500.  (P & G, Kroger, Macy, Fifth Third Bancorp, A K Steel Holding, Western Southern Financial and Chiquita Brands International) Plus there are another 5 companies in the Fortune 1000 (American Financial Group, Cincinnati Financial, Cintas, Convergys and E. W. Scripps). 

 These companies and a myriad of other businesses provide economic stability for our region. They were all amazed that many Fortune 500 companies call Cincinnati home.

Unlike other areas, like southeast Michigan, our economy is not tied to a single  industry. 

Most of these students will be entering the workforce with decent salaries and the affordability of housing throughout the area is a huge draw.  Go online and compare housing for Chicago, Atlanta and then look at Cincy.  Apartments, condominiums and single family homes are reasonably priced throughout the region.  And even the most remotely located community is ever far from the freeways and access to work.

Beyond the basics, we have 2 major league sports teams (don’t get picky- we have professional teams), great biking trails winding from north of Dayton to Lunken airport, with more trails in Fairfield and Miami Whitewater.  Nightlife on both sides of the river.  In short, the activities they are currently participating in are available here.

We get so busy with everyday things that I sometimes think we miss the things around us…the zoo, Music Hall (Opera, Ballet and Cincinnati Symphony Orchestra), Aronoff, all the Art and Historical Museums, Freedom Center,  Kings Island, Eden Park, Findlay Market, …..you get the idea.

Finally, the discussion about living here always comes down to… how long have we lived here and why?  The answer is simple….while we miss some things from our home state -Cincinnati has been a wonderful place to call home and we never regretted moving here.

Still need convincing or more information about the area-send an email and I will be glad to pass along more detailed information.  The easiest way to keep up with all the information is to subscribe…now.

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Data from Greater Cincinnati Multiple Listing Service

Real Estate activity is remains steady in Fairfield and Fairfield Township…which is good news…but not great news.

Like neighboring school districts (Lakota and Mason) Active Listings are picking up, but Fairfield’s pending sales had a very slight dip in April.  The decrease is small, but sellers need to keep an eye on marketplace and ensure their properties are easily accessible to potential buyers.

Also as the economy struggles a bit, communities served by Fairfield Schools has 42 single family homes and 3 condos listed as new construction.  Contrast this to nearby Lakota which has 169 new construction homes listed in the Multiple Listing Service (MLS).

Real estate activity, whether it is new construction or resales, is good for the community- both products lure potential residents to the area.

Keeping yourself in the real estate loop is the easiest way to know what is going on in the area.  Need more detailed information, call 513-300-4090, email or subscribe today.

Related Topics: Fairfield Stats for March; April Lakota Stats; April Mason Stats

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Data from Greater Cincinnati Multiple Listing Service

Good news comes in 3’s for Mason Ohio property owners:

1. More sellers in the Mason School District are braving the real estate market- with an uptick in both single family and condominium listings
2. Pending sales have increased
3. The actual sale price on “closed properties” has increased

While none of the numbers are quantum leaps- they do reflect a more positive real estate market.

Add to the mix unusually low mortgage interest rates, a higher than average number of schedule showings by real estate agents and you have the recipe for a recovering housing market.

Trying to decide about jumping into the real estate market?  Call (513-300-4090) or email for assistance or more information on market trends.

Related articles:  Mason March Stats;  April Lakota School District Stats; April Fairfield School District Stats

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Data from Greater Cincinnati Multiple Listing Service

Tired of hunting for local real estate news?  Subsribe now and have it delivered directly to your email.

In the world of baby steps…you have to crawl before you walk and the lastest numbers for real estate sales in the Lakota School District reflect baby steps toward recovery.

To see last month’s numbers click here.

Let’s look at April’s baby steps:

• Higher Average List Price for both single family homes and condominiums
•  An increase in pending sales for both categories
• A very slight drop in the average sold prices

Instead of focusing on the little stumble in closed prices let’s look at the big picture:

• Reduced number of Days on Market
• Realtor scheduled showings at an all time high
• Interest rates at a record low

Many properties are sold pending within a week of going on the market!

If you would like to be one of the “sold pending” properties in the Lakota School District and need help- give me a call (513-300-4090) or send an email.

Related Topics:  April Stats for Fairield; April Stats for Mason

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On May 6, 2008 the Cincinnati Enquirer’s lead article about a home buyer in trouble “Homeowner in Over Her Head” detailed the story about a buyer with mortgages on 3 homes worth 5 million dollars.  She claims she was duped by her tax preparer and is now looking for assistance to correct the problem.   This morning’s Letter to the Editor in the Cincinnati Enquirer readers were voicing their views and they were not too sympathetic about her plight.   

Is buying real estate in greater Cincinnati, Ohio really that difficult?

No- not really.

Buyers need to educate themselves and beware of deals that sound to good to be true.

Three things to remember when purchasing a home and signing the mortgage note:

1. If you applied and were turned down for a loan by 3 reputable lenders…and the 4th lender says they can put the deal together.  Think twice!  What is this lender doing to enhance your qualifications?
2. Lenders who promise buyers that they do not have to put anything down and will walk away from the closing table with money in their pocket deserve intense scrutiny on your part.  There are legitimate programs to assist buyers with good credit but very little money for a down payment- a few of them are listed below: 
   1. FHA
   2. Good Neighbor Programs (check with local bank, savings and loan or credit union)
   3. Nehemiah
3. Remember buying a home is like investing in the stock market- there are no guarantees.  If you take an adjustable rate and assume your home will appreciate before the mortgage rate increases- you are kidding yourself.

Cincinnatians- be smart and protect yourself and your money- consult with reputable professionals and don’t get caught up in the concept of owning a home and worrying about the payment details after the closing.

Call me if you need advice or direction (513-300-4090) or send an email.

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