Call me real estate twitterfied (horrified).

I was roaming through open houses in another state and noticed potential buyers “tweeting”their way through the property.  My curiosity overcame my manners and when questioned- the tweeter graciously shared the information that several buyers had connected and decided to tweet through properties-…..”so others didn’t waste their time going to “useless” open houses.”

For the record the “twitterati” are willing to let other make home buying decisions in lieu of actually walking through the front door and really looking at the property for sale!  In greater Cincinnati we’re used to buyers taking quick pictures and sending texts to parental units and friends.  Tweets provide an easy way for buyers to communicate quickly with family and friends- but heaven help us if other people are following the tweets and decide to add their 2 cents worth to the discussion. 

Imaginary Tweet: 

Buyer:  In family room at 123 Main Street

Parental Unit: Will couch fit?

Friend:   Room 4 me?

Unknown:   House is close to sex offender…

I can’t make up mind if this is stroke of genius or the next step to blogo real estate.
What do you think?

This week versus last week for metro Cincinnati real estate.

Below is the Market Action Reports for 6 zip-codes in the greater Cincinnati area:
45011

 45014

45040

 45069

45208

45233

 
This is the abbreviated version of the detailed information available for the zip-codes.

Click here to order your report….or call or email for details.

Some professional advice for home buyers:

• 

  Keep Your Home Purchase on Track

  You’ve found your dream home. Make sure missteps don’t prevent a successful closing. Read

• 

  Understanding Real Estate Representation

  Whether you’re buying or selling, it’s important to choose representation that meets your needs in the transaction. Read

• 

  4 Tips to Determine How Much Mortgage You Can Afford

  By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. Read

• 

  7 Tips for Improving Your Credit

  Here’s how to clean up your credit so you get the least-expensive home loan possible. Read

• 

  7 Steps to Take Before You Buy a Home

  By doing your homework before you buy, you’ll feel more content about your new home. Read

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

The real estate market in the Lakota School District continues to be very active.

According to the Multiple Listing Service of Greater Cincinnati real estate activity is shown below:

Data from Greater Cincinnati Multiple Listing Service

Data from Greater Cincinnati Multiple Listing Service

Data from Greater Cincinnati Multiple Listing Service

The tax credit frenzy is over (just trying to get everything closed by end of June-unless Congress gets it’s act together and passes closing extension).  Everybody is analyzing the post tax credit housing market- and we’ll let you know the details.  Be first to read the updates by clicking here.

More detailed information about your property’s market value is available-just email or call.

Confused with the contradicting information about the real estate market?

You’re not alone!

Think of real estate as 2 types of markets…local and everywhere else.

Locally on the plus side a Cincinnati Enquirer article highlights the increase in closings as well a slight increase in prices-due primarily to the tax credit and low mortgage rates.  The amount of inventory available is shrinking-slightly- and that is good news for sellers.  Less inventory means a more balanced market -but our area is still a “buyers” market.

Another plus is Trulia which also show an increase in sales and median price range for our metropolitan area.

Plus +  plus = low mortgage rates.

Nationally on the minus side  a Wall Street Journal article “Outlook for Home Prices Grows Darker” highlights the continuing problem with unemployment worries a lot of economists and forecasters. Also home sales dropped in the month of May-no big surprise as buyers rushed to meet the April 30th tax credit deadline. 

Minus, minus is that Congress has failed to pass an extension for Flood Insurance.  So buyers cannot purchase homes in 100 year flood zones (which also affects lots of homes in our market) and homeowners are not able to renew their current policies.

Sometimes it’s hard to figure out what things really impact real estate in metro Cincinnati.  Tighter credit requirements to obtain a mortgage, problems with appraisals, flood insurance (or lack of) foreclosures and unemployment is affecting every state.  The perception of problems causes lenders to add more and more requirements to obtain a loan…so buyers, sellers and agents are frustrated.

This “vicious circle” should eventually break and real estate will slowly chug back to the new normal.  If you need help navigating the local market- call or email.