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 single family homes. The dates covered for both years is 01/01- 05/15- an apples to apples comparison.

If you need more data or more details call (513-300-4090) or send an email.

Want to be the first to see the numbers for condominiums- subscribe now.

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Last night’s email headline from the Cincinnati Business Courier alerted us to the story.  This morning’s Cincinnati Enquire headlined “Town Center Proposed for Liberty Township“.  And if you have driven east on Hamilton Mason Road recently- the construction arrows and detours are a sure sign of impending growth.

Home owners always want to know how much (if any) the development will boost their property values.  It is a great question!

Unfortunately there isn’t any easy way to estimate the impact. Commercial development is usually good for the surrounding areas:  increased tax revenues; variety of businesses attracting a diverse population for shopping and entertainment; increased exposure for the area.

Along with all the benefits comes the inevitable traffic problems which may divert frustrated shoppers to drive through normally quiet subdivisions - in order to cut some time off their trip.

If you currently live on a residential street with the potential of becoming a “cut through” for mall traffic- the value of your real estate may be impacted.  Otherwise only time will tell if there is any positive or negative impact to residential real estate.

Remember for every buyer who wants a quiet dead end street, there is also a buyer who wants all the amenities within 2 minutes of their home.

The impact on your particular property will depend on how traffic is routed. The Township’s planners have a lot of examples to review for do’s (Easton) and don’ts (Fields Ertel, Union Center Blvd) in order to minimize congested traffic in surrounding residential neighborhoods.

There is no formula for homeowners, in the path of large commercial development, to estimate long term impact. 

As a property owner, I strongly encourage you to become “engaged” with the process and stay informed.  Click onto the Liberty Township site and plan ahead so you can attend zoning meetings.

Still have questions or want to share your thoughts- call me (513-300-4090), send an email or comment below.  Stay up with all the latest real estate news and subscribe today.

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As a home owner I have come to view my home’s eccentric features as charming.  Buyers may not be as enchanted with these “problems”.

As a Realtor if I a potential listing had mini maple trees growing out of the deck, because the owner didn’t bother to sweep up the seeds -  well that would cleaned up prior to listing the property.  Cupboard doors that stick, a bedroom door that won’t stay open, an electric outlet that doesn’t work…all these items and more would be on a giant “honey do” list to be fixed before the property is offered for sale.

It is so easy to “miss” little problems, I strongly suggest that sellers have a home inspection performed and fix the problems.  This is a win/win for both the sellers and buyers.  Having completed an inspection, the sellers knows what needs fixing.  Buyers still have the option to have the home inspected, but may feel more comfortable with their offer after reviewing your inspection report and seeing the receipts for repairs.

Now on to staging and decluttering.

As a real estate agent I am acutely aware of how critical home staging has become in this buyer driven market.  However as a homeowner I struggle with stripping every personal item off the walls and shelves.  Our family spent many years (way too many) in this home and a few pictures of happy kids shouldn’t really deter buyers from purchasing a home. Or does it?

We need to get rid of all the “stuff” accumulated over the years- things we haven’t looked at or used in decades. As I see it there are 2 ways to declutter. 1. Rent a Rumpke Garbage Truck, park it on the driveway and just toss everything. 2.  Hire a neutral third party to help with the sorting.   Because I know as soon as I open a box of memorabilia…I rationalize reasons to hang onto the contents. 

From an economic and sanity perspective, it will be worth my time and money to hire a professional staging company….and follow their directions.

Finally, as a Realtor I know how much my home is really worth!

After all we just installed a new roof, new landscaping for the backyard is on the way, the deck was redone last year and…..blah…blah….blah….blah.

If and when we put the house on the market, the value is in the eyes of  the buyers.  End of discussion.  If there are 3 homes in our subdivision up for sale- pricing competitively to capture the next buyer is the only way to sell quickly. 

Remember- a Competitive Market Analysis (CMA) presented 3 weeks ago during a meeting with an agent may not be accurate today.  The market changes daily and as a seller I need to adjust my pricing accordingly…trying out a higher price for even a week is a good way to lose buyers in today’s market.  They don’t look and make a low ball offer….they don’t even look at the property.

Years ago I decided that when it comes to selling my property, hiring professionals and allowing them to work in my best interest is the only way to go.  I am very pragmatic with my clients (some would say “blunt”) but I know when it comes time to sell our wonderful, spacious, well loved, family home……- I will be teaming with (unemotional) professionals for assistance.  (After all who wants to buy a home from an emotionally involved seller?)

If you think you need unemotional, clear headed real estate advice- give me a call (513-300-4090) or send an email.

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Stable Economy + Affordable Housing = Greater Cincinnati Ohio.

The other night I had the opportunity to spend the evening with a number of graduate students from a variety of universities.  Their number one question- “what is Cincinnati really like?”.  I was ready to launch into a verbal tour of the area - but that was not what they were  really asking. The real question is…. if they uprooted themselves from their university cocoon and moved here- would they be happy?

As we stood out on the steps of the Cincinnati Museum Center and looked at downtown, I pointed to headquarters of  just some of the 7 companies in the top of the Fortune 500.  (P & G, Kroger, Macy, Fifth Third Bancorp, A K Steel Holding, Western Southern Financial and Chiquita Brands International) Plus there are another 5 companies in the Fortune 1000 (American Financial Group, Cincinnati Financial, Cintas, Convergys and E. W. Scripps). 

 These companies and a myriad of other businesses provide economic stability for our region. They were all amazed that many Fortune 500 companies call Cincinnati home.

Unlike other areas, like southeast Michigan, our economy is not tied to a single  industry. 

Most of these students will be entering the workforce with decent salaries and the affordability of housing throughout the area is a huge draw.  Go online and compare housing for Chicago, Atlanta and then look at Cincy.  Apartments, condominiums and single family homes are reasonably priced throughout the region.  And even the most remotely located community is ever far from the freeways and access to work.

Beyond the basics, we have 2 major league sports teams (don’t get picky- we have professional teams), great biking trails winding from north of Dayton to Lunken airport, with more trails in Fairfield and Miami Whitewater.  Nightlife on both sides of the river.  In short, the activities they are currently participating in are available here.

We get so busy with everyday things that I sometimes think we miss the things around us…the zoo, Music Hall (Opera, Ballet and Cincinnati Symphony Orchestra), Aronoff, all the Art and Historical Museums, Freedom Center,  Kings Island, Eden Park, Findlay Market, …..you get the idea.

Finally, the discussion about living here always comes down to… how long have we lived here and why?  The answer is simple….while we miss some things from our home state -Cincinnati has been a wonderful place to call home and we never regretted moving here.

Still need convincing or more information about the area-send an email and I will be glad to pass along more detailed information.  The easiest way to keep up with all the information is to subscribe…now.

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Data from Greater Cincinnati Multiple Listing Service

Real Estate activity is remains steady in Fairfield and Fairfield Township…which is good news…but not great news.

Like neighboring school districts (Lakota and Mason) Active Listings are picking up, but Fairfield’s pending sales had a very slight dip in April.  The decrease is small, but sellers need to keep an eye on marketplace and ensure their properties are easily accessible to potential buyers.

Also as the economy struggles a bit, communities served by Fairfield Schools has 42 single family homes and 3 condos listed as new construction.  Contrast this to nearby Lakota which has 169 new construction homes listed in the Multiple Listing Service (MLS).

Real estate activity, whether it is new construction or resales, is good for the community- both products lure potential residents to the area.

Keeping yourself in the real estate loop is the easiest way to know what is going on in the area.  Need more detailed information, call 513-300-4090, email or subscribe today.

Related Topics: Fairfield Stats for March; April Lakota Stats; April Mason Stats

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Data from Greater Cincinnati Multiple Listing Service

Good news comes in 3’s for Mason Ohio property owners:

1. More sellers in the Mason School District are braving the real estate market- with an uptick in both single family and condominium listings
2. Pending sales have increased
3. The actual sale price on “closed properties” has increased

While none of the numbers are quantum leaps- they do reflect a more positive real estate market.

Add to the mix unusually low mortgage interest rates, a higher than average number of schedule showings by real estate agents and you have the recipe for a recovering housing market.

Trying to decide about jumping into the real estate market?  Call (513-300-4090) or email for assistance or more information on market trends.

Related articles:  Mason March Stats;  April Lakota School District Stats; April Fairfield School District Stats

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Data from Greater Cincinnati Multiple Listing Service

Tired of hunting for local real estate news?  Subsribe now and have it delivered directly to your email.

In the world of baby steps…you have to crawl before you walk and the lastest numbers for real estate sales in the Lakota School District reflect baby steps toward recovery.

To see last month’s numbers click here.

Let’s look at April’s baby steps:

• Higher Average List Price for both single family homes and condominiums
•  An increase in pending sales for both categories
• A very slight drop in the average sold prices

Instead of focusing on the little stumble in closed prices let’s look at the big picture:

• Reduced number of Days on Market
• Realtor scheduled showings at an all time high
• Interest rates at a record low

Many properties are sold pending within a week of going on the market!

If you would like to be one of the “sold pending” properties in the Lakota School District and need help- give me a call (513-300-4090) or send an email.

Related Topics:  April Stats for Fairield; April Stats for Mason

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Search engines are where most people start their web search and being ranked highly in search engines is a big deal. For any website, it is important to be highly ranked in search engines as this helps to drive more users. Recently, there has been some confusion or misunderstanding about Trulia in the blogosphere in regards to high search engine ranking. I think it’s important to address the concerns head on, so that you can understand Trulia’s strategy clearly, without distraction. It’s going to be a long one…and I hope this clears up what we do and where we stand.

Before I start – it’s worth clarifying a few things:

(more…)

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On May 6, 2008 the Cincinnati Enquirer’s lead article about a home buyer in trouble “Homeowner in Over Her Head” detailed the story about a buyer with mortgages on 3 homes worth 5 million dollars.  She claims she was duped by her tax preparer and is now looking for assistance to correct the problem.   This morning’s Letter to the Editor in the Cincinnati Enquirer readers were voicing their views and they were not too sympathetic about her plight.   

Is buying real estate in greater Cincinnati, Ohio really that difficult?

No- not really.

Buyers need to educate themselves and beware of deals that sound to good to be true.

Three things to remember when purchasing a home and signing the mortgage note:

1. If you applied and were turned down for a loan by 3 reputable lenders…and the 4th lender says they can put the deal together.  Think twice!  What is this lender doing to enhance your qualifications?
2. Lenders who promise buyers that they do not have to put anything down and will walk away from the closing table with money in their pocket deserve intense scrutiny on your part.  There are legitimate programs to assist buyers with good credit but very little money for a down payment- a few of them are listed below: 
   1. FHA
   2. Good Neighbor Programs (check with local bank, savings and loan or credit union)
   3. Nehemiah
3. Remember buying a home is like investing in the stock market- there are no guarantees.  If you take an adjustable rate and assume your home will appreciate before the mortgage rate increases- you are kidding yourself.

Cincinnatians- be smart and protect yourself and your money- consult with reputable professionals and don’t get caught up in the concept of owning a home and worrying about the payment details after the closing.

Call me if you need advice or direction (513-300-4090) or send an email.

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