According to the Multiple Listing Service of Greater Cincinnati the following HUD properties have sold/closed.  If you are tracking or bidding on HUD properties this report may provide insight into selling prices.

I took a quick look at real estate closings for single family homes and condos during the first half of September.  Since many geographic areas fall within school districts, the data is broken down by school district.  Remember, most of the closings happen during the last week of the month – so you should expect a large increase in these numbers. 

As many buyers are timing their purchases to close at the end of November in order to qualify for the the First Time Home Buyer Tax Credit- the closing numbers in October and November should increase significantly.

A word of caution for FHA and VA buyers- as noted previously- new condo approval regulations may delay your closing.  If you are using FHA or VA mortgages make sure to get a list of approved condo complexes or plan on adding several weeks to your anticipated closing date.

According to an article in Business Week by Prashant Gopal the following cities are listed as the most affordable:

1. Kokomo, Ind.
2. Lansing-East Lansing, Mich.
3. Mansfield, Ohio
4. Elkhart-Goshen, Ind.
5. Lima, Ohio
6. Bay City, Mich.
7. Indianapolis-Carmel, Ind.
8. Saginaw-Saginaw Township North, Mich.
9. Youngstown-Warren-Boardman, Ohio-Pa.
10. Canton-Massillon, Ohio

And the least affordable cities are:

1. New York-White Plains, N.Y.-Wayne, N.J.
2. San Francisco-San Mateo-Redwood City, Calif.
3. San Luis Obispo-Paso Robles, Calif.
4. Ocean City, N.J.
5. Honolulu
6. Los Angeles-Long Beach-Glendale, Calif.
7. Santa Ana-Anaheim-Irvine, Calif.
8. Santa Cruz-Watsonville, Calif.
9. Nassau-Suffolk (Long Island), N.Y.
10. Flagstaff, Ariz.
 

It’s no surprise that many mid-western cities rank highly in the most affordable category-and hopefully one day athe greater Cincinnati area will catch somebody’s eye as a great place to live.

Related Articles:  Cincinnati Rocks;  Is Cincinnati Rated a Great Place to Live?;  2008 Business Week Most Affordable Cities

According to the Multiple Listing Service of Greater Cincinnati the closing sales volume for single family homes (2008 vs 2009) is still down.

Good news- the First Time Home Buyer Tax Credit is pushing a lot of buyers into the market and I expect to see the greater Cincinnati area real estate market to gain ground in the next quarter.  The real estate market is waiting to see if  Washington decides to extend the tax credit or add other incentives to fuel home buying.  Remember even though sales volume is increasing actual sale prices are still depressed.

Questions or comments welcomed. 

Related Article:  Condo Sales

Sales (closings) are starting to gain momentum in the condo market!

According to the Multiple Listing Service of Greater Cincinnati, comparing 2008 to 2009 condo sales in greater Cincinnati indicates buyers are definitely in the buying mood.  Though the 2009 numbers are slightly less than 2008, the difference is much lower than previous months.  I would expect the First Time Home Buyer Credit to spur sales through September.  If the government decides to extend or expand the home buyer credits-then the market should continue to move along.

Questions or comments- call or email…or feel free to comment on blog.