Are You Part of the Big or Little Greater Cincinnati Real Estate Picture?
May 15th, 2012 categories: For Sellers
Picture a buyer flying over greater Cincinnati looking for a home or condo to buy and what do they see?
Lots of options with 10360 single family homes and 1835 condos for sale can potential buyers find your property at all? The big picture in greater Cincinnati real estate is lots of inventory for sale and buyers don’t bother looking at overpriced merchandise. How can you tell if you’re listing is overpriced? Lots of showings, tons of internet traffic and no purchase offers.
In order to capture buyer attention and get them to focus on your listing- you need to be competitively priced and move in ready. Compare your pricing strategy with other properties in your area. According to the Multiple Listing Service of Greater Cincinnati- current information for the following zip codes-
Sellers wanting to capture the next buyer need to stay in tune with the ever changing real estate market. If you didn’t see numbers for your area of have questions about stats for last week call or email me for help.
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Are Condos Selling in Greater Cincinnati?
May 14th, 2012 categories: Sales
If you live in Hamilton or Clermont Counties the dollar sales volume for condos is ahead of 2011…. the other 2 counties are lower. Like all of the local Cincinnati real estate market, condos sales have some bright spots and lots areas with slower/lower sales. Complexes which experienced fewer problems with short sales and foreclosures and have maintained FHA financing certification are surviving the slowdown. If your complex has lots of foreclosure/short sale activity- you will most likely experience problems until the “distressed inventory” is sold.
One bright spot in the condo market (unlike single family home sales) is sale prices in Butler and Hamilton Counties are higher than they were in 2012. This is especially good news because both counties have a lot of complexes feeling the effects of lender requirements for occupancy.
| 2011 | 2012 | |||
|---|---|---|---|---|
| # Units | Avg Sales Price | # Units | Avg Sales Price | |
| Butler | 128 | $77,642 | 80 | $81,012 + |
| Clermont | 50 | $102,270 | 59 | $93,600 |
| Hamilton | 234 | $131,530 | 261 | $143,476 + |
| Warren | 69 | $129,873 | 59 | $93,600 |
The prospect of tons of foreclosed homes and condos hitting the market in the next few years (Shadow Inventory) and uncertain economic times are impacting condo sales in the greater Cincinnati area. If you’re buying or selling and want up to date information – just call.
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Happy Mother’s Day
May 12th, 2012 categories: Entertainment
Happy Mother’s Day to all the moms, grandmothers and everybody else who cheer us on and provides loving support throughout our lives!
Thanks MOM.
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West Chester Farmers and Art Market
May 11th, 2012 categories: Entertainment
Spring and summer activities are kicking off this month starting Saturday as the West Chester Farmers & Art Market opens for business at 9am right in front of our office -on West Chester Towne Centre Drive. Local artists will join the market every other Saturday- adding some extra fun things do while shopping for various food groups.
In addition to Findlay Market (open all year) Farmers Markets are popular throughout the area -so if you can’t visit this one click here to find one near you.
Enjoy the weekend!
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Add This To Your Home Buying Checklist
May 10th, 2012 categories: For Buyers
Home buyers around greater Cincinnati are fairly predictable. Buyer requirements are focused on price, # bedrooms and bathrooms, school district (maybe), neighborhoods, age and of course- amenities.
HGTV has emphasized the importance of granite counter tops and stainless steel appliances-but maybe they should remind potential buyers to look at some other details as well.
Recently I’ve had some fun showing “already rehabbed” homes located mid-city around I-71. The workmanship has been surprising and, for the most part, prices have been competitive. For my buyers, it’s important that whatever they buy is “move-in” condition. But they’ve done their homework and had lots of questions about zoning, fence heights, crime stats and demographics. It’s my job to help them locate the best sources to answer their questions (not me) and let them do the research. In this case information on zoning and fencing was available online- the rest of it will require phone calls.
What is surprising is how few of today’s buyers look beyond the boundaries of the backyard to ensure the surrounding neighborhood will support your dream lifestyle. Think about adding a few things to your real estate checklist:
- Zoning- what can and what can’t you do once you move in (or can your neighbor build a 20 foot storage barn for you to stare at every day)? Are above ground or in-ground pools allowed, backyard gyms, broken cars and trailers parked on grass or parked outside at all, basketball hoops, type and height of fences and more. Just because the neighbor has an above ground pool- doesn’t guarantee you permission to do the same. Also many areas have covenants which may be slightly more restrictive than zoning codes….and many area have little or no way to enforce covenants….until somebody decides they don’t like your new fence and files a lawsuit. Some neighborhoods allow only wood/brick on the exteriors which may mean continued upkeep and expense for you. Finally don’t assume zoning is for single family homes only-over the years many of us have discovered unique zoning codes in our neighborhoods.
- Crime Statistics- call the local police/sheriff department to verify the facts for yourself.
- Neighborhood Planning- what’s on the books or in the plans for the future? Are there plans for commercial, residential or light industrial on the books and is it close enough to have a direct impact. Find out if the field at the end of the block could become home to condos, apartments or a UDF store.
It’s best for buyers to do their own research and get direct answers to all their questions without information being interpreted or misinterpreted by anybody else.
Today’s home and condo buyers have a lot to handle when it comes to inspections, radon, mortgages, title insurance and home owner’s insurance-but don’t forget to take a few extra moments to verify neighborhood information too!
Related Article: US News Money
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