Is the Local Cincinnati Real Estate Market Chugging Along?
October 3rd, 2008 categories: Beckett Ridge, Cincinnati, Ohio, Liberty Township, Ohio, Real Estate Buying, Real Estate News, Real Estate Selling, West Chester, Ohio
In spite of the daily deluge of nasty economic news, the greater Cincinnati real estate market is chugging along.
Think of our real estate market as an old train grinding its way slowly up the side of a mountain eventually reaching it’s destination….despite all the lurching, groaning and creaking.
Everybody on the train will arrive at their destinations- but the “ride” will not be comfortable or hassle free.
Mortgage money is available- for qualified buyers. New real estate listings appear everyday and buyers are house hunting!
In the last 30 days, homes and condominiums in greater Cincinnati, Ohio continue to sell.
Pending sales for the last month:
Good news is that Washington may get its act together and begin to reassure investors. The bad news is that it will take some time for the “fix” to trickle down to main street. However, remember- real estate in West Chester, Hyde Park, Mason and the rest of the area continues to sell. So if you are thinking about buying or selling real estate - now is the time.
If you need help or questions answered- feel free to call or email.
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Is Cincinnati Real Estate Affordable?
October 1st, 2008 categories: Cincinnati, Ohio, Real Estate Buying, Real Estate News, Real Estate Selling
Surprise - Cincinnati made the cutoff in Forbes Top 10 Least Expensive Places to Own a Home. (Slideshow)
In order:
Cleveland: $978. a month
Columbus: $1,060. a month
Pittsburgh: $1,187. a month
San Antonio: $1,216. a month
Indianapolis: $1,232. a month
Nashville: $1,256 a month
New Orleans: $1,296. a month
St. Louis: $1,299. a month
Charlotte: $1,336. a month
Cincinnati: $1,353. a month
Personally, I was surprised to see Charlotte was less expensive than Cincinnati. Affordability has made the greater Cincinnati area home for many Fortune 500 Companies and this recognition is good for our area.
If you are having trouble finding affordable housing- call or email.
Information Source: Forbes article by Lauren Sherman
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Lien on Whom in Cincinnati Real Estate?
September 24th, 2008 categories: Cincinnati, Ohio, Real Estate Buying, Real Estate News
Thinking about bidding on a foreclosed property in Cincinnati, West Chester or Fairfield?
If you are thinking about getting a deal at a Sheriff’s Auction or by some other means- have you thoroughly researched the property prior to making a bid?
In today’s real estate market most buyers have no clue about property liens.
What is a lien?
In simple terms- a lien is ”a charge on the property to satisfy a debt or other obligation.” (Article) The mortgage is the most common form of real estate lien. In 95% of the real estate transactions in our area, buyers and sellers sign documents at the closing-then the title company files the mortgage note (lien) at the courthouse. If you purchased an Owner’s Policy of Title Insurance at the closing, the policy helps to protect you from any prior liens that may have been missed during the title search.
Other examples of common liens are: equity loans, 2nd mortgages, home owner association dues and, of course, federal and state taxes. (there are several other types of liens too)
Foreclosed properties often have a variety of liens and many buyers unwittingly assume once the first mortgage holder is paid- the job is done.
So if you are thinking about bidding on a foreclosed property and don’t how to conduct a thorough title search at the courthouse -contact a title company (or call your realtor to get the name of contact) to ensure you aren’t bidding on a “lien machine”.
There are deals to be made in this real estate market- remember to take the time to investigate before making a bid.
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House-Hunting with Kids
September 22nd, 2008 categories: Cincinnati, Ohio, Real Estate Buying, Real Estate News, West Chester, Ohio
Sleeping Beauties exhausted from house hunting?
Shopping for real estate in West Chester, Cincinnati or Fairfield Ohio can be exhausting for adults too! Add younger children into the mix and you may have sabotaged your house hunting for the entire day.
Best advice- get a babysitter until you have narrowed down your choices to 1 or 2 properties.
If babysitting is not an option - don’t schedule appointments around nap time. Sleeping children (see above) cannot just be left in a car sitting on the driveway. Obviously an adult needs to stay with them- which often looks like a fire-drill as the agent and/or each of the parents takes a turn going through the house.
Children, of every age, need to stay with their parents while walking through the property.
You would be amazed at the number of adults who allow their children to forage through toys, closets or cupboards.
Bring something to keep them amused- (hint- play-doh is not a good idea).
Sounds pretty basic, however a lot of buyers forget to plan ahead when it comes to kids and house-hunting.
If everybody is on the same page- shopping for real estate with kids can go smoothly.
Related Articles: How to Make House Hunting with Children Easier
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Doublewide Real Estate
September 19th, 2008 categories: Cincinnati, Ohio, Real Estate Buying, Real Estate News
While looking at a very nice home a few weeks ago, a very wise buyer requested that I drive my “sissy size” SUV into the garage- just to see how it fit.
As I barely squeaked in and just missed knocking off the passenger side mirror- reality hit- their full size SUV was never going to fit through the garage door. The problem - a 3 car garage with 3 single sized doors.
Buyers with unique or over-sized vehicles are always on the lookout for garage height and width issues when looking at real estate- but most buyers don’t even think about “pulling into the garage” prior to making an offer.
It seems the trend lately is to build homes with multiple single size garage doors in lieu of a double door. And for the majority of buyers, garage door size is a non issue…but take a moment to make sure your carriage fits into you new palace before you write an offer.
So if you are house hunting in Cincinnati, Fairfield or West Chester, make sure that all your “stuff ” will fit into your next home.
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