Good morning New Zealand!
February 2nd, 2010 categories: Real Estate News
We arrived in New Zealand last night (Cincinnati time) after a very, very long flight. We were excited to wake up this morning and find a sheep farm just outside our window.
After breakfast, we are heading to visit the geo-thermal pools and other volcanic sites here in Rotorua.
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Pending Sales Heating Up Cincinnati Real Estate
January 30th, 2010 categories: Real Estate News, Real Estate Sales, Real Estate Stats
Pending real estate sales for a few of greater Cincinnati’s school districts.
The housing market for single family homes and condos is chugging along- and some areas have experienced very slight price increases. The good news is that sales are happening and while prices are may increase they are still much lower than the top of the market in 2005.
If you are thinking about selling or buying ask your Realtor to run the average sale price for your area for the last 7-10 years. Sellers are surprised to see the price declines that began as the financial crunch began to unravel.
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HUD Closings for Greater Cincinnati Ohio
January 28th, 2010 categories: Cincinnati, Ohio, Foreclosures, Real Estate News
According to the Multiple Listing Service of Greater Cincinnati the following HUD properties have sold/closed.
If you are tracking and/or bidding on HUD properties the report provide. Or stay ahead of the real estate market by subscribing to thecincyblog now!
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What is the White House Worth?
January 22nd, 2010 categories: Real Estate News
According to Real Trends- Zillow first gave the White House a Zestimate in January 2009. At that time, Zillow estimated it was worth $308 million, based on the home’s physical attributes (132 rooms, 55,000 square feet), historical value and housing performance in the local Washington, DC market. Today, as the President prepares to mark his first anniversary in office, Zillow estimates put the White House at a bit less: $292.5 million, a drop of $15.6 million, or 5.1 percent from last January. But it’s not all bad news for the country’s most famous home. Just like most homes across the U.S., the White House’s decline in value over the past year was not as dramatic as it was the previous year. In 12 months from January 2008 to January 2009, the White House lost almost $24 million in value, or 7.2 percent.
Zestimate of the White House:
Thankfully, the President will not have to deal with lenders sluggish handling of Short Sales or Foreclosure.
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FHA Changes Impact Buyers
January 22nd, 2010 categories: Liberty Township, Ohio, Mason, Ohio, Real Estate Buying, Real Estate News
Recently FHA announced updated guidelinesfor financing which become effective spring. In an effort to beef up their dwindling reserves- FHA added new costs in order to obtain an FHA loan. Home-buyers with a credit score less than 580, the minimum down-payment will be 10% and for credit scores above 580, the down-payment is still 3.5%.
Up front mortgage insurance premiums will be increased from 1.75% to 2.25% for all FHA borrowers.
Seller concessions will be capped at 3%, instead of 6%.This will impact a lot of buyers who have relied on the seller to cover all the closing costs. Since the premium is increasing and seller concessions are reduced, buyers will need to bring some money to the closing table.
The changes will effect the initial cost of all FHA financed homes and will be costlier for those with a lower credit score.
Stay tuned for more details about changes.
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