Hurricane Ike and Cincinnati Real Estate
September 15th, 2008 categories: West Chester Ohio
Yesterday’s gusting winds pushed a lot of buyers around Sunday Open Houses.
Number one question on everybody’s mind- how is hurricane Ike affecting the real estate market in Cincinnati, West Chester and Fairfield?
Well between Ike, turmoil in the financial markets…and everything else going on – buyers and sellers are looking for signals. Is the signal red, a cautioning yellow or green?
Green light for most buyers- interest rates are low, though it may be a bit more difficult to obtain a mortgage if you have a marginal credit rating or a minimal down payment. Housing prices are down, so if you are in the market to buy (or thinking about buying) the time is now. Best advice-work with a reputable lender.
Green light for sellers - however you need to make sure your properties are in good condition, priced right and easy to show. Yesterday’s weather caused a lot of damage and getting everything “fixed” quickly may be difficult. If you have contacted a vendor to remove trees or repair siding or roof- I would suggest leaving a note for potential buyers describing the clean up schedule and offer to answer any questions. Vacant homes need to be checked by your realtor or, if you are a FSBO, by a neighbor or friend.
Yellow blinking light- with Ike pushing up gas prices nobody will be doing a lot of cruising around in their cars just for fun. If your home/condo is on the market and somebody wants to see it “now”- waiting for you (seller) to confirm the appointment- may drive the buyer to skip your property and move on to the next one.
Keep in mind there are 14204 homes/condos for sale in Butler, Clermont, Hamilton and Warren Counties.
447 Homes/condos for sale in Fairfield or Fairfield Township. 887 homes/condos for sale in West Chester, Beckett Ridge and Liberty Township and 3027 in areas served by Cincinnati Public Schools.
The signals in our local real estate market are staying consistent- just make sure you are ready to see them!
Related Articles: Buyer Beware; FICO Scores; Selling;
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