Below is the Market Action Reports for 6 zip-codes in the greater Cincinnati area – click here to order your report….or call or email for details.

45208

45014

45011

45069

45233

45040

Does cash really make you a king in real estate?  For one buyer in greater Cincinnati $3,200,000 in cash purchased an Indian Hill palace.

The greater Cincinnati area is experiencing the same phenomenon that many other cities are experiencing – an increase in real estate buyers paying jaw dropping amounts of cash to buy a home.

According to the Multiple Listing Service of Greater Cincinnati from January 1st through August 10th of this year- 75 single family homes and 16 condos with sale prices of $300,000 and above have sold for cash in Hamilton, Butler, Warren and Clermont counties.  The highest price home sold for $3,200,00 and highest priced condo for $842,026.  Don’t take this the wrong way, metro Cincinnati is by no means moving toward a “cash driven real estate market”- but cash deals do happen in our area.

Last year during the same timeframe 62 single family homes and 14 condos were cash deals.  The highest priced home was sold $4,500,000 however the tax records indicate a holding company was the purchaser- so I’m guessing somebody is going will eventually sub-divide the lots and build more  homes on the property.  The winner in the condo category sold for $1,500,000.

While it may seem “to good to be true”  there’s always a “slim chance” in our area that the buyer will offer cash and yes we’ll probably take a 2nd and 3rd look at the contract to ensure somebody didn’t check the wrong box.

Don’t forget that cash buyers need to provide similar information as a buyer with conventional financing- proof the funds required to close are readily available.  The information needs to be provided by a reputable source such as a bank, trustee, lawyer or investment firm. 

Cash is only king-if you actually have the money to close on time.

Good news for sellers in all 4 counties in metropolitan Cincinnati.  According to the Multiple Listing Service of Greater Cincinnati, sales volume is up for 2010 as compared to 2009.

However, as the chart below indicates,  increased sales volume doesn’t convert into huge price gains for sellers.

Single Family Sales by County

In Warren County, the average sale price has actually decreased and the # of  houses sold is down  for Hamilton County. 

Real Estate is selling, but sellers need to stay on top of the market and price accordingly.

If you need help figuring out today’s real estate realities- call or email me now.

If you’re one of the many people in the metro Cincinnati facing foreclosure or the potential of foreclosure -and it seems as if doors are slamming in your face- the State of Ohio has a program “Save The Dream” focused on providing solutions to homeowners careening through  a foreclosure.

In addition to this program, Ohio is launching a program to assist the “Hardest Hit” by foreclosure.  Partsof Hamilton, Warren, Butler and Clermont counties are targeted by program.

Make no mistake banks are ramping up the number of foreclosures so if you think you may end up in trouble-don’t wait -contact the State or HUD.  There are also other reputable agencies providing counseling and/or assistance. 

Need more detailed information-email or call me.

Related Articles:

• “Ohio awarded additional $148M in Hardest-Hit foreclosure funding” and related posts (building-cincinnati.com)

• Ohio is awarded $148 million to fight foreclosure (dispatch.com)

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

45208

45233
 

45014
 
45011

45069

45040

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