FHA Loans Will Have Higher Mortgage Insurance Premiums in April 2011

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The Federal Housing Authority, or FHA for short, is increasing the Mortgage Insurance Premiums on April 18, 2011. The changes to MIP will impact standard FHA loan programs. To understand how the premium increases will impact various loans you need to know a few acronyms. Understanding Mortgage Language LTV = Loan To Value ratio. This […]

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How Important is it to Work With A Real Estate Agent?

Chart about working with a Cincinnati real estate agent

The Importance of Working with A Cincinnati Real Estate Agent A recent report by MRIS details survey results from hundreds of buyers and sellers in today’s current market compared to recent years. Between the market price volatility, changes in lending practices, and the foreclosure influx having a professional to guide you through the process is […]

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Radon Rules May Change for Cincinnati Real Estate

A photo of a radon mitigation system installed in the basement installed in the basement of Cincinnati real estate

Radon Rule May Change in Ohio The Ohio Dept of Health (ODH) is pushing for additional regulations making radon testing almost twice as expensive and radon mitigation could be impacted similarly. All disputed regulations are from Ohio new rules 3701-69-07 Appendix A and 08. A copy of the draft rules are located at http://www.odh.ohio.gov/rules/drafts/d3701-69.aspx New Radon Testing Rules Will […]

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State of Cincinnati Real Estate February 2011

The State of The Cincinnati Real Estate market continues to change and buyers and sellers must be prepared to adapt to the market realities. According to RIS Media nationwide hosing prices were at their lowest point at the end of last year based on the Case-Shiller home price index. As is typical in Cincinnati prices […]

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Cincinnati Real Estate Mortgage Rate Trends

Mortgage trends through 2010

The Cincinnati real estate mortgage rate trends have been fluctuating throughout the economic slowdown and for the most part the trend has been downward. Average yearly mortgage rates have dropped year over year since 2006 (6.41%) through November 2010 (4.30%). The real question is what will 2011 bring? To date 2010 is averaging 4.69% for […]

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Cincinnati has Affordable Real Estate and Low Cost of Living

Cincinnati has affordable real estate and a low cost of living according to a report from the Cincinnati Area Board of Realtors. The report in question focuses on the Overall Home Affordability Index which calculates the median cost of a mortgage on a median priced house and considers the ability of the median wage earner […]

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Fire Fighters, Teachers, Police and EMTs can buy a home for 50%

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Fire Fighters, Teachers, EMT’s, and Police are eligible to purchase HUD homes at a 50% through a  program called Good Neighbor Next Door (GNND). The program allows buyers to use FHA, VA, Cash, or Conventional financing to buy HUD homes in Designated Revitalization areas. Buyers take out 2 mortgages each for 50% of the purchase […]

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Home Buyer Tax Credit – Closing Date Extended to September 30th.

Congress — both the U.S. House and Senate — passed the Homebuyer Assistance and Improvement Act of 2010 (HR 5623), which extends the Closing Deadline for Homebuyer-Tax-Credit eligible transactions to September 30, 2010 (instead of June 30). This extension of the Closing Deadline applies only to transactions with ratified contracts in place as of April […]

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Cincinnati Spring Real Estate Market Shows Improvement

The numbers released form the Cincinnati Area Board of Realtors show that the local real estate market has improved since last year and is trending towards stability and balance.  Year over year 2010 spring season has been much more active than 2009. Below you can see the increase in number of homes SOLD, not under […]

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Tips for buying a Condo in Cincinnati

If you are in the market for a condo, there are some critical pieces of information you should research with your real estate agent before making an offer. 1. Read Between the Lines Take a look at the minutes of the condo association board meetings to see what the building-wide challenges are. Even if there […]

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