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Scooping Cincinnati’s Real Estate Market

filed under: Real Estate posted on March 25th, 2013

When it comes to homes for sale in Cincinnati great real agents know how to “prepare” for the local market trends!

Scooping Cincinnati's Real Estate Market

“Be Prepared” is a good motto for Realtors as well the Scouts.  So my boots are ready to go..as well as hat, gloves, warm jacket and shovel.  Of course I didn’t really believe the weather forecasters story about the snow and the end of the world…but no use tempting the fates.

As we close out the month of March in greater Cincinnati -Mother Nature is throwing us one last curve ball- more snow.  Hopefully the after effects will melt quickly and everybody quick talking the weather predictions and resume their normal daily activities.  In the meantime Sunday and Monday might be devoted to shoveling out and dealing with the brave buyers who ignored the flurries and hit the road on Sunday visiting some of the 596 scheduled open houses.  And like any forecast just how fast local home sales recover from the cold and snow is harder to predict.  The hardest thing to figure out about real estate sales is the impact of shortage of new listings hitting the market.  It seems many sellers are waiting for sale prices to go up before they sell and buy their next property.  The logic of waiting is hard to understand with today’s low interest rates and home prices still below market highs of 2005-2006.  The interest rates cannot remain at historic lows forever and when they start inching up – the payments on the home you want to buy will also increase.

The difference between a 4% versus 4.5% loan for $250,000 may only be $73 a month but on a 30 year mortgage the additional interest paid adds up to over $26,000.

Real estate forecasting is a lot like weather forecasting where slight shifts in the “winds” can cause dramatic changes-don’t be the type of buyer or seller waiting for perfect conditions that already exist in the current real estate market.  Need more detailed information before you make any decisions?   -Click here to to Call: 513-300-4090, by email or Subscribe

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