Habitat(ing)
September 29th, 2008 categories: Real Estate News
Habitating- verb; give back to community, learn how to build and have fun.
It’s Habitat (Habitat for Humanity) time again and I drove to Kentucky and learned (once again) that I’m “hammer challenged”. But I did learn how to cut and hang “styro” insulation. I also had the opportunity to work with fellow agents and our loan officer.
Randy (orange shirt) and the “professional volunteers map out the work list.
Shelly Mangus showed off her “circular saw” skills.
Angela Rose worked on prepping the framing for drywall.
Kevin Herthel -simultaneously framing a wall and handling loan issues. It’s unusual to find a loan officer swinging a hammer.
Randy- Habitat’s Building Foreman- a man with endless patience and a sense of humor.
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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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It’s a Bird!
September 25th, 2008 categories: Real Estate News
It’s a bird! It’s a plane….it’s…..nope it’s the Goodyear blimp.
As I pulled into the garage late yesterday I heard engine noises overhead. Looking up and expecting to see a small plane- I was surprised to see the Goodyear blimp floating in the sky. Alas the Butler County Auditor found another way to raise everybody’s assessments again.
Actually, I think they were enjoying the wonderful weather and the beginning of the fall season.
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Lien on Whom in Cincinnati Real Estate?
September 24th, 2008 categories: Cincinnati, Ohio, Real Estate Buying, Real Estate News
Thinking about bidding on a foreclosed property in Cincinnati, West Chester or Fairfield?
If you are thinking about getting a deal at a Sheriff’s Auction or by some other means- have you thoroughly researched the property prior to making a bid?
In today’s real estate market most buyers have no clue about property liens.
What is a lien?
In simple terms- a lien is ”a charge on the property to satisfy a debt or other obligation.” (Article) The mortgage is the most common form of real estate lien. In 95% of the real estate transactions in our area, buyers and sellers sign documents at the closing-then the title company files the mortgage note (lien) at the courthouse. If you purchased an Owner’s Policy of Title Insurance at the closing, the policy helps to protect you from any prior liens that may have been missed during the title search.
Other examples of common liens are: equity loans, 2nd mortgages, home owner association dues and, of course, federal and state taxes. (there are several other types of liens too)
Foreclosed properties often have a variety of liens and many buyers unwittingly assume once the first mortgage holder is paid- the job is done.
So if you are thinking about bidding on a foreclosed property and don’t how to conduct a thorough title search at the courthouse -contact a title company (or call your realtor to get the name of contact) to ensure you aren’t bidding on a “lien machine”.
There are deals to be made in this real estate market- remember to take the time to investigate before making a bid.
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Have You Watered Your Foundation Lately?
September 23rd, 2008 categories: Fairfield, Ohio, Liberty Township, Ohio, Real Estate News
Homeowners beware!
This summer, while not as dry as last summer, is starting to cause foundation problems for some homeowners.
To keep your house from shifting/settling- take some time to “water the foundation” during the next few weeks.
Nothing complicated. If you are watering the your lawn aim the sprinkler to “water the foundation” at the same time.
Currently in the Cincinnati area we are experiencing lower than normal rainfall for this time of the year. As the ground dries out it pulls away from the poured foundation. Once the foundation has some space- it may shift- causing anything from minor foundation cracks and sticking doors….to major foundation issues and cracked basement floors.
Homeowners usually don’t notice the problem until water comes through the basement walls or floor and/or windows and doors cannot be opened or closed.
So the next time you water your grass- aim the water at your house and help stabilize your foundation.
If you still have questions or comments-call or email.
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