Real Estate News
June Homes Sales in Metro Cincinnati
July 23rd, 2010 categories: Cincinnati Ohio, Real Estate News, Real Estate Sales, West Chester Ohio
Press Release from:
Cincinnati Area Board of Realtors®
June Home Sales Up 7.6%;
Mortgage Rates Under 5%
Local homes sales (closings) last month — at 2,129 units — showed a 7.63% gain over the same
period one year ago, reports the Cincinnati Area Board of Realtors. The increase was due largely to closings that needed to be completed by June 30, from contracts written by April 30, in order for qualified buyers to receive a federal tax credit up to $8,000.
In addition, June sales were up slightly over last month (+0.57%).
Nationwide, June home sales were up 9.8% from a year ago, but down 5.1% last month on a seasonally adjusted basis.
Year-to-date closings on a local basis show positive numbers on three major points:
Sales units were up 11.94%, gross dollar volume sales grew 21.35%, and average selling price climbed 8.41%.
Contributing to the average increase in selling price was due partly to fewer foreclosure sales in early 2010 compared to last year, which helped this year in the 2010-to-2009 selling price comparison.
For more detailed information-call or email me.
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Are You a Real Estate Nitpicker or Seducer? Part 2
July 17th, 2010 categories: Cincinnati Ohio, Real Estate Buying, Real Estate News, Real Estate Selling, West Chester Ohio
A few days ago I asked a simple question of home buyers and sellers in Cincinnati, West Chester and Mason-are you a real estate “nitpicker” or a real estate ”seducer”? In part 1 I covered the “nitpickers”. Today it’s time to identify the “seducers”.
Everybody loves the thought of being around a “seducer”…they’re smooth, polite and full of compliments.
If I asked 100 people who they would prefer to work with- “seducer” would win. But not all seducers are as smooth as they appear and sometimes their need to make everybody comfortable can cause as many problems as the “nitpickers”.
You can identify the real estate seducers if:
- The buyer who compliments every property or the seller who meets greets every buyer and their agent before leaving the property.
- The seller who leaves freshly baked goodies on the counter with a note to the buyers.
- The buyer who is more worried hurting the seller’s feeling than writing a good clean contract.
- OMG scenario-the buyer who goes back to the property on their own and chats with the sellers before ever writing a contract.
As with the “nitpickers” the middle of the road type ”seducer” is fun to work with and really can make the transaction go smoothly. What’s not to like about polite people? On the flip side hard core “seducers” are hard to read and if they compliment and gush about every property- it’s hard to get a read on what they like or dislike about a particular property. As an agent if I understand that you really dislike a particular floor plan-I will do my best to eliminate those houses from showings. The same goes for sellers who gush all over everything you do-let’s face it we’re not perfect and sometimes just saying thank you is enough.
The bottom line both buyers and sellers need to act normally and provide their agents, lenders and inspectors with honest questions and feedback. Nobody likes dealing with the extreme version of the “nitpicker” or the “seducer” so if you think you are one or the other- ask yourself if you are getting the service you need or the service your behavior is dictating.
Honesty, common decency and good bargaining techniques (not getting emotionally attached) are always win/win strategies in real estate.
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A Week in Metro Cincy Real Estate
July 13th, 2010 categories: Cincinnati Ohio, Real Estate News, Real Estate Stats, West Chester Ohio
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:
45208
45233
45069
45040
45014
45011
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.
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Are You a Real Estate Nitpicker or Seducer?
July 12th, 2010 categories: Cincinnati Ohio, Real Estate Buying, Real Estate News, Real Estate Selling, West Chester Ohio
When buying real estate in Cincinnati, Mason or West Chester lots of buyers (and to be honest-some sellers) fall somewhere into 1 of the 2 categories.
So are you real estate seducer or real estate nitpicker?
To answer the question it’s important to understand that belonging to the middle of either category doesn’t automatically make you wonderful or horrible. However the “extremes” may oftent run into problems during the transaction.
Today I’m covering the nitpicker and you’re one if:
- Find a great house, negotiate a good price and then sink the deal over inspection items such as bathtub caulking, one light switch that doesn’ t work…
- Conversely - you’re the seller and you decide not to disclose or fix major items (ie: cracked heat exchanger, the leak that you’ve painted over numerous times…)
- Buyers who request total replacement of items not even mentioned on the inspection report-ie: all new window, new furnace, new roof….
- Buyers and/or sellers who try to renegotiate everything right up to the closing date. These nitpickers are likely to suggest that they will “walk away” if the other party doesn’t give-in.
- You are immediately suspicious if the other party doesn’t reply to questions or counter offers immediately.
Granted the examples are extreme but the message is always the same..control. Some buyers and sellers have convinced themselves (or somebody else is coaching them) that unless all they demands are met- it isn’t a good deal.
Unfortunately what’s good for one side of a real estate transaction may not be good or acceptable to the other side….and the hard core nitpickers sometimes lose good properties or end up paying more because the other party has decided to play hard ball or to just not play at all.
So if you’re a really bad real estate “nitpicker” beware of the consequences.
In a few days find out if you’re a real estate seducer.
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What Does Real Estate Inventory and Days on Market Have in Common?
July 10th, 2010 categories: Cincinnati Ohio, Real Estate News
In the single family home market for greater Cincinnati real estate inventory and days on market look like 2 different roller coaster rides at Kings Island.
Good news for sellers actual days on market (DOM) have declined-but the number of single family homes for sales is growing. As inventory grows and buyers decide to sit on the fence again- look for DOM to increase.
Think of the current market as a balancing act between number of buyers, available inventory, interest rates and seller motivation.
The buyers are definitely out there and there is plenty of inventory. Interest rates remain at historic lows-leaving seller motivation as a key element. Unfortunately press coverage of the real estate market is highlighting appreciation in the local market. It’s true values are holding or rising very slightly-but prices are still way below the height of the market. Many sellers are having a rough time adjusting to current prices.
Need help deciphering the data? Call or email.
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