What’s Your Opinion on the Bailout and Cincinnati Real Estate?
October 6th, 2008 categories: Cincinnati, Ohio, Real Estate News, West Chester, Ohio
Many of you have called or emailed asking for my view of the bailout and the impact on real estate in the greater Cincinnati area.
I’m flattered…but have to admit I have mixed emotions about the “whole mess”. Obviously, any time government intervention is required the problem is never crystal clear. In order to clarify my ideas- I had a mock interview with myself.
Interviewer: Do you think the bailout will have a positive or negative impact on real estate in West Chester, Cincinnati, Fairfield and the 4 county area?
Me: Yes!
Interviewer: Do you think the bailout is the way to go or is there a better way to handle this financial mess?
Me: Yes!
Interviewer: Well you seem to be evading most of my questions- do you have an opinion or are you unsure about the results of the current legislation?
Me: Yes!
As you can see I’m as conflicted about the current (and I think long term problem) as everybody else.
How this all will all shake out -nobody really knows.
I do know, for qualified buyers, there are some great bargains in real estate. For sellers, who think they are losing money, the house you’re buying will probably cost less too!
If you have questions or need real estate advice call 513-300-4090 or send an email.
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Related Article: How the Financial Crisis Impacts Cincinnati Real Estate
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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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Housetrology- What’s Your House Sign?
October 2nd, 2008 categories: Cincinnati, Ohio, Real Estate News, West Chester, Ohio
Are you a believer in horoscopes, crystal balls and fortune tellers?
Well with all the doom and gloom in the markets…including the real estate in the greater Cincinnati area- I thought it would be fun to share Coldwell Banker’s “Housetrology“ with you. 
With a few simple clicks, your “house sign” will be revealed!
Hope you enjoy as much as we did. (Husband and I are looking for 2 different type homes)
Make sure you let me know your “sign”.
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How the Financial Crisis Impacts Cincinnati Real Estate
September 30th, 2008 categories: Cincinnati, Ohio, Real Estate News, West Chester, Ohio
The golden rule in business is to never talk about politics or religion.
I agree with the rule and though the “bailout” has become highly political-the problem is really financial and the outcome affects everybody.
Last night on ABC News, Robert Kruwich had a short animated segment “An Animated Look at the Credit Crunch”
This animated look at money flow provides a good insight into why financial problems impact the real markets in West Chester, Fairfield, Mason and greater Cincinnati. If there isn’t any money- then buyers cannot secure mortgages to purchase real estate.
Less money means less demand for all products- including real estate and Stacy Johnson, Our Money Editor, explains “Housing Turn Around Supply and Demand”
I don’t know if the answer to the problem is the rescue of financial institutions and/or for qualified* home owners heading into or already in foreclosure -new mortgages on property at current market value**. *Qualified= owners with a good credit rating who cannot afford the higher interest rates of their current mortgages. ** What the property is actually worth in today’s market.
Until Washington comes to a decision, real estate in greater Cincinnati is business as usual. Buyers should obtain loan approval -pending contract and appraisal- before they start house hunting. Sellers need to watch supply and demand and be realistic about pricing.
Stay tuned for future reports on the impact on our local real estate market.
Your comments and questions are always welcomed. Comment below, call or email.
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Is There a Silver Lining in Real Estate for Greater Cincinnati?
September 25th, 2008 categories: Cincinnati, Ohio, Real Estate News, Real Estate Selling, West Chester, Ohio
Housing sales and prices are plummeting….just a little.
This morning’s Cincinnati Enquirer Article covering the local housing market is full of doom and gloom. And yes, we are in a housing slowdown, but if you look at the numbers-properties continue to sell.
Let’s take a look at 14 days of real estate activity for single family homes in a few areas:
Without going into great detail, in most areas sellers continue to put their properties on the market and buyers are buying. During the last 14 days it appears that real estate is really moving in Beckett Ridge, Hyde Park, Liberty Township and Mason. Next week the numbers could just as easily show spurts in other neighborhoods.
The latest Real Trends commentary on the real estate market touched key points:
- “….the key point here. The longer that sellers and real estate professionals put off pricing homes at today’s market the longer the period of time it will take for the market to recover.”
- “Real Trends believes that the market bottom is still in the future as closings of home sales weakend in August from July.”
Mortgage rates remain low and money is available for qualified buyers.
As Wall Street and Washington DC contiue to grapple with bailout issues, the buying public is standing around waiting for some sign to jump back into the stock and real estate market. Meanwhile, in greater Cincinnati there are buyers househunting today-who will buy a home/condo in the next 30 days.
The “silver lining” is for the sellers who priced their property for the “next buyer”…and have sold and/or will sell their properties…and move on.
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