This week has been consumed by travel time and while in Florida to attend real estate meetings, we took a few days to visit Key West Florida. 

While riding the Conch Tour Train I was introduced to the “Eyebrow Houses”.  The concept of dropping the roof line low enough to block direct sun into the second floor rooms seems to be an easy way to reduce heat in the summertime.

The locals in greater Cincinnati may not want to drop their roof lines quite that low-however we may want to consider some additional overhang which allows light and reduces energy consumption.

What are the real numbers for real estate for the greater Cincinnati market?

According to the Multiple Listing Service of Greater Cincinnati, the numbers released each month encompasses all the counties surrounding Cincinnati.   And while they are in our market area- I think you need to look at the data for Butler, Clermont, Hamilton and Warren Counties.

As you can see on the chart (data pulled from MLS 01/01/08-05/15/08 vs 01/01/09-05/15/09) the dollar volume has taken a bigger hit than the units- which mean properties are selling for less.

Certain areas are faring better than others- so if you need more detailed information- call or email.

Hats off and heartfelt thanks to all who have given their lives for our freedom.

Find out more about the history of Memorial Day .

Memorial Day Events.

  Pack those strollers, rev the engines and head downtown for 3 days of feasting.

  The “Taste of Cincinnati” starts tomorrow and runs through Memorial Day. 

  Lots of food and fun for everybody.

Webster’s defines conundrum as an intricate and difficult problem.

The condo market in Hyde Park and Oakley presents a delicate balancing act between supply and demand.  According the Multiple Listing of Greater Cincinnati:

•  23 Active Listings, – 21 are new construction
• 7 Pending – all new construction
• 11 Solds- 5 new construction

As the market slowly comes back to life, condominiums in Hyde Park and Oakley present an interesting conundrum- meeting high demand for new construction versus reselling previously owned real estate.  What compounds the problem is that many of the resales are relatively new (less than 5 years old).  The absorption rate (number sold vs the number available) indicates a 24 month supply of condos priced at $500,000 up.

So what’s a condo seller to do?

Look at the facts and market accordingly.  Pricing has to be competitive against new construction.  Get creative by offering the right incentives and be patient.  As the new construction is sold, the demand for the market will heat up. 

Solving the condo conundrum requires timing, flexibility and buyers getting of the fence and into the marketplace.