Cinco de Mayo in Cincinnati
May 4th, 2012 categories: Entertainment
Celebrating Cinco de Mayo with “Cincy-Cinco” Latino Festival in Cincinnati gets better every year and this year the party is in full swing in the heart of downtown at Fountain Square on Saturday and Sunday. So for the runners (and other healthy people) who complete the Flying Pig on Sunday…you can join the party at Fountain Square.
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It’s Almost Time for “Girls on the Run”
May 3rd, 2012 categories: Informational
The best way to enjoy the busy downtown Cincinnati skyline is to walk/run along the stadiums, across the river and back again and a great way to do it is with friends on May 12th.
A wonderful program “Girls on the Run” is celebrating on Saturday May 12th, 10am at with the Spring 5k Run/Walk at Sawyer Point. Girls on the Run is an unique program which focuses on instilling healthy lifestyles and self- esteem initiatives for girls during their preteens.
The program which started in 2005 with just 12 girls now serves over 1900 girls annually and the local chapter is part of an international organization which encourages positive image through spring and fall programs that incorporates lesson plans and physical engagement. Locations for the program are available throughout the greater Cincinnati area.
Hope you can either attend and/or donate to make this event and the entire program a continued success. It’s programs like this one that enhance all the communities in greater Cincinnati making our city a great place to live.
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Is There Affordable Housing Available in Greater Cincinnati?
May 2nd, 2012 categories: For Buyers
Lot’s of today’s potential home buyers aren’t shopping for real estate because they don’t realize how much affordable housing is available for sale.
Looking to buy a home or condo priced from $75,000- $100,000 within the four county area and you have 967 homes and 355 condos available for sale. The majority of the homes for sale have 3 bedrooms and 2 bedroom condos are the most popular. Two great examples are: the home in the picture (#1300821) is located in Springfield Township listed for $78,000 and the condo (#1297444) located in Green Township listed for $98,500. Remember if haven’t spoken to a lender yet and you’re looking shopping for condos be sure to factor in the monthly association fees as part of your payment. For lots of people buying a condo makes great sense because they don’t want to deal with cutting the lawn or exterior painting- so the monthly fees are worth it to them.
There’s also a lot of confusion about down payment requirements which is also adding buyer wariness. Unlike the “golden days” when virtually no investment was required- the majority of today’s mortgages are obtained through FHA. The great news about FHA is that unlike many other lenders with high down payment requirements- FHA buyers only need 3.5%. And FHA Mortgages can lend (in our area) up to $337,500- which is attracting many buyers attention. Also many area banks are offering special financing programs to qualified buyers-be sure to check if one is available for your professional group or Ohio Housing Finance Agency to name a few.
Down payments, closing costs, inspections, homeowners insurance and title insurance costs all come into the picture when buying a property- but the down payment seems to be the big ticket item deterring many real estate buyers. Lot’s of affordable housing is up for sale (start search) but if you are having a problem and need help- just call me.
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Greater Cincinnati Real Estate Pricing
May 1st, 2012 categories: For Sellers
If your property is for sale withing the four county area of greater Cincinnati you’re competing with 8599 homes and 1751 condo currently on the market. The median listing price is $157,500 for homes and $119,900 for condos.
Is your piece of Cincinnati real estate priced above or below the median for today’s market?
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Cincinnati Real Estate in the News!
April 30th, 2012 categories: For Sellers
Yesterday the Cincinnati Enquirer ran an article by Lisa Bernard-Kuhn titled “Housing Market Might Buck Trend”….which proceeded to detail the overall decline in the home prices throughout the area.
It’s true that while sales volume is up in many areas, sales don’t always equate to a higher prices. With about 10,300 single family homes and 1850 condos currently for sale through the Cincy MLS buyers have plenty of options. The concept of waiting for prices to rise before selling your property only makes sense if you aren’t buying another property. But if you plan on upsizing, downsizing or just making a lateral move- waiting for prices to rise also means paying more for the next property too. The rise and fall of real estate prices in greater Cincinnati affects all of us- but comparing today’s prices to 2005 or 2003 is walk down memory lane.
Sellers really need to be concerned about the current sale prices of properties in their neighborhoods- because that’s what appraisers use to “comp” when evaluating properties for lenders.
In short, the fact that the house next door sold for $250,000 in 2005 has no impact on current appraisals. Documentation provided by the Multiple Listing Service of Greater Cincinnati comparing of 2010 versus the 2011 provides the latest overview of prices for the local real estate market. However if you’re thinking about selling it’s critical for you to know about recent (not older than 6 months) sales prices because in most cases, the buyer of your property will be obtaining a mortgage which requires an appraisal. If you’re lucky enough to find a buyer willing to pay more and the appraisal comes in lower than the sales price- well be ready to begin a new round of negotiations.
As far as the Enquirer’s headline that “Housing Market Might Buck Trend” it’s really too soon to make a judgement call. Showings and buyer activity are soaring. The stock of housing inventory is declining slowly. However until the actual sales prices stabilize and begin to increase the local housing market is following the trend.
Your thoughts and comments are welcome.
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