Any Impact on Cincinnati Real Estate from Light Rail?
April 17th, 2009 categories: Cincinnati, Ohio, Real Estate News, Relocation
As we chugged down I-75 from Michigan I found myself wondering why we were driving and not “railing” home.
The greater Cincinnati metropolitan area needs a comprehensive light system-not only for travel within the 4 county area (as well as northern Kentucky) but also to simplify travel around cities located in the mid west states.
How cool would it be for the “kids” to hop on a light rail system running from Chicago and spend a day or two visiting home?
Perhaps it is time for our area to take the lead with light rail and quit waiting for direction from Columbus or Washington. Businesses with offices in Cincinnati and Dayton would not have to worry about shuttling employees between locations or to and from work. The key is to have central station locations with ample parking available.
As the light rail system expands in the area- so does the real estate around it.
Not only do commercial areas pop up to support the traffic…residential areas now considered “too far out” could become the new “in” locations.
If you let your mind wander, instead of so many college graduates leaving the area for work, maybe greater Cincinnati could entice some new multi state Midwest based companies to relocate here -bringing new job opportunities.
Anyone who has traveled to Washington D, Atlanta, or Chicago know how easy it is to jump on their “light rails” and travel to and from the city and airports. Even Cleveland has a city light rail system.
As long as we are dreaming-lets not forget to make the light rail user friendly- with places for luggage and bikes.
Let me know what you think!
Related Articles:Light Rail Now Cincinnati Pro-Transit
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What are the Top Ten Relocation Markets?
April 8th, 2009 categories: Real Estate News, Relocation
Whether your are listing home in West Chester, Fairfield or Cincinnati, the 1st or 2nd question every seller asks is how the listing agent will find a relocation buyer for their property. And while transferees are moving in and out of our area all the time- their buying habits are the same as every other buyer.
However if you really want to market your home to transferees, Forbes recently published an article about the 10 best cities to sell real estate.
The top 10 Markets for relocation business are:
1. Raleigh, N.C.
2. Austin, Texas
3. Charlotte, N.C.
4. Phoenix, Ariz.
5. Dallas, Texas
6. San Antonio, Texas
7. Houston, Texas
8. New Orleans, La.
9. Atlanta, Ga.
10. Denver, Colo.
Need more information about the relocation activity for the greater Cincinnati area-call or email.
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Real Estate Outside of West Chester, Fairfield and Cincinnati Ohio
June 10th, 2008 categories: Area Employers, Real Estate News, Relocation
No big surprise- most of the housing markets east of the Mississippi River are experiencing slight price declines.
I just returned from a great meeting with real estate/relocation people representing major cities from Florida to New York. The information was fairly uniform, slightly declining housing prices, problems with constant media attention on the worst markets, foreclosures and how employers are dealing with transferees who are upside down with mortgages.
The good news, sellers are beginning to adjust their prices, subsequently there is a slight uptick in pending sales in most markets.
No mad rush on real estate, but a picture of the market finally adjusting pricing to meet demand. (sort of like the stock market)
Consensus of the group is that foreclosures will continue to impact all markets. There is no easy fix and for many borrowers-”a bail out” will only delay their problems. The markets with big home owner associations (HOA), such as Florida are feeling the pain of foreclosure. Foreclosed property owners do not pay the association fees-leaving the remaining home owners (or condo owners) scrambling to cover expenses.
Relocating employees -many without a “buyout package” (buyout is when the employer will guarantee the purchase of the property after so many days on the market) leaves many transferees struggling with selling a property in one market while having to rent housing in their new location.
States with the most diverse economies are doing better than the states relying on one or two major industries. With new progressive governors, Alabama and Louisiana have done a lot to attract “very large” employers into their states. The State of Ohio’s focus appears to be on small employers and this does impact the real estate markets around the state.
New trends are always of interest……
In the greater Cincinnati, West Chester, Mason and Fairfield real estate markets the term “turnkey” describes a property in “move in condition”. The buyer won’t have to paint, carpet or do anything to the property. On the west coast of Florida, turnkey has a taken a whole new meaning. Turnkey means the seller is supplying new bathroom towels, kitchen utensils, linens, china, glassware and silverware for the buyers.
Wow- I think I like the idea.
It’s important to stay up with what is going on inside and outside our local real estate market. If you have questions or comments- call 513-300-4090, send an email or use the comment section below.
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Part 2 -Are You Prepared for a Green Fried Computer?
June 6th, 2008 categories: Fairfield, Ohio, Liberty Township, Ohio, Real Estate News, Relocation, West Chester, Ohio
Judging by the emails I received, I guess there is a lot of interest in “online storage”. The previous article “Are You Prepared for a Green Fried Computer?” raised questions and I took the liberty copying one of the emails into the comments because it covered several very good points.
It seems as if the “senior sector” has spawned all sorts of new relocation types of services, usually free to seniors, but often requiring hefty referral fees from vendors.
Today many assisted care facilities are partnering with relocation companies to provide end-to-end services. Occasionally problems arise when the facility’s management team does not disclose to the incoming seniors - that they will be ”pushed” to utilize the services. Many of these seniors do not require or want the services-yet they must deal with repeated calls and micromanagement from a relocation service provider - usually located in another city.
If a family member, living in a distant location, requires help with a move I would suggest you check with their community senior services groups to find help. Or check with the real estate agent to determine if they have a “services department”. (Or call me 513-300-4090 and I will find the right agent for you) Several brokerages offer access to preferred vendors and these contractors are usually bonded and insured.
Also The National Association of Realtors (NAR) has a professional designation Senior Real Estate Specialists (SRES). The training enhances a realtor’s ability to work with the 50+ age group. Several real estate web sites allow you to search by designations. A quick search of the just the SRES site rendered 17 names of agents serving the 45069 zip code.
However the online data storage component is another story and I did not have any luck finding companies offering a service to handle inputting the information as well as providing storage.
Sometimes the solution is as simple as using the online tools we access on a daily basis.
Both Google and Yahoo offer free online “storage” for documents. Google Docs and Yahoo Briefcase allow you to upload documents for storage. I have used Google Docs extensively and am able to create new documents and spreadsheets to share or store. My son told me about Yahoo Briefcase and it was very easy to upload a current document to the site. Both of the services require a sign-in/ password to activate.
A friend of mine has taken a much easier approach- he emails “stuff” to a free email account (in this case Hotmail). Many of the documents are sent as attachments and the attachments are password protected. By the time I study all the alternatives, this may be the easiest way for us to “store” information too.
The article that peeked my initial interest (but no actual activity on my part) was written by Walter Mossberg of the Wall Street Journal at the end of 2006. The article titled “These Services Make Backing Up Your Files Safe and Inexpensive” provides detailed explanation on a few services. Another of Mr. Mossberg’s columns in the Wall Street Journal and a recent issue of PC World review SugarSync- a software product which allows users to keep multiple devices up to date. For owners with a variety of computers in many locations- this may be the best bet for keeping information.
Finally a quick search of ConsumerSearch.com provides a good comparison of several sites/services available for back-up.
Stick with what works for you- if you make it too complicated you’ll never follow through with compiling and retaining the documentation.
If you would like to share information on real estate for ”seniors” or online data storage -post a comment below or send an email.
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2007 vs. 2008 Condominium Sales for Greater Cincinnati,Ohio.
May 28th, 2008 categories: Real Estate News, Real Estate Selling, Relocation
2nd look at….”they say a picture is worth a thousand words!”
So in lieu of a long drawn out description on the current market- the charts below compare 2007 to 2008 closed sales for condominiums for Butler, Clermont, Hamilton and Warren Counties.
The dates covered for both years is 01/01- 05/15- an apples to apples comparison.
Sales for both single family homes and condominiums have declined but the greater Cincinnati market is in much better shape than many other places.
If you need more data or more details call (513-300-4090) or send an email.
Related Article: USA Today Discovers Cincinnati
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