A while back we wrote about the Humphrey Road Sidewalk project and are pleased to have an update to post here. Symmes Township has decided to move forward on the project and they began initial surveying Friday. We met with township Treasurer Phil Beck along Humphrey Road and talked with him about the direction of the project and the impact on the residents.

The direct impact on the local residents is undeniable. The sidewalk will provide easy and safe park access to upwards of 75 homes connecting families to each other in a pedestrian friendly way.

If you watch the news to often you hear the consistent drone that home prices are down! The real estate market is in the tank! Well that may be true in some areas but not all. The fact is that in select Cincinnati neighborhoods the average SOLD price is up 20% or more including parts of Amberley, Indian Hill, and Mariemont. The area around Symmes Township and Dry Run / Mt. Carmel have seen better than 9% increase in sold price.

On the other hand some zip codes drop in sold prices up to 25% in the same time period. There could be dozens of reasons for this including tax abatements, inflation, inventory, and normal cyclical changes in neighborhoods. Paramount is that when looking for a home or an investment property your agent has a sense of the overall market trends in that particular area. Nothing is ever a guarantee for valuation but this is the kind of information you should ask for and expect from a real estate professional.

The accuracy of information in this post is dependent on the MLS system for time periods. The analysis included 31 zip codes comparing the previous 6 months with the same six month period one year prior. The analysis is a useful tool for estimating value trends and is not guaranteed to be applicable to all properties in the areas aforementioned.

For years we have been moving to the suburban areas for lower prices, and in return we get longer commutes. With gas prices what they are what is the real cost of our suburban home? WorldChanging.org has a very interesting application on their site that shows you the real cost of your home, with the commute included. It is no doubt an interesting tool to use whenever moving to a new area, and especially a new city. The Center for Neighborhood Technology’s interactive map helps you see the real cost of an area. The CNT defines affordable as housing + transportation costs are less than (<) 45% of the median income of the area.

Those of us familiar with the Cincinnati real estate know that there are some areas covered here that tend to attract higher home prices, and people who can afford them. Using median income for the region may not be the best metric. If the number were based on zip code I would feel more comfortable with the map. However this certainly brings up a good point, that with gas at $3.35 a gallon location, location, location takes on a whole new meaning.

Whether you prefer to live in a single family home, townhouse, or condominium you can find them all in Mt. Lookout conveniently located just east of downtown Cincinnati. This neighborhood is primarily residential with the convenience of commercial business in one central area. Many of the residences in this area are currently part of the tax abatement zone where property taxes are waived for 10 years.

One thing that most people probably do not know that Mt. Lookout also has the privilege of being home to the nation’s oldest fully operational observatory founded in 1842. Mt. Lookout’s website reports that it has one of the highest owner occupancy rates in Cincinnati nearly 80% of the 1,400 units available in the neighborhood and is the home to approximately 3,400 residents.

Mt. Lookout is conveniently located near the 94 acre Frederick H. Alms Memorial Park and the 224 acre Ault Park which is the fourth largest park in Cincinnati. Mt. Lookout has sidewalks running through most of the major streets and neighborhoods and even has a running club where the routes are mapped out, is part of the Cincinnati Public School District, and is nearby the Oakley Community Center.

Mt. Lookout Square is the home of unique shops, coffee shops, a theater, restaurants, and bars. In the warm spring and summer months to come this is the perfect place to walk around and grab a bite to eat at one of the restaurants with open air seating. Mt. Lookout is the host of Junefest so look out for a posting as that events nears.

Under Ohio Revised Code 2950.034, registered sex offenders are not allowed to live within 1,000 feet of a school, preschool or daycare center (as defined in that section). However WCPO news reported on February 20, 2008,  that the Ohio Supreme Court has ruled that a sex offender may not be booted from a home within 1,000 feet of a school if he owned it and committed his crime before the distance restriction became law. Gerry Porter was convicted of sexual battery in 1999. Part of the property where he lived fell within the 1,000-foot limit established by the Legislature in 2003. The court stopped short of deciding whether the rule was intended to be retroactive, which would raise questions of its constitutionality.

What does this mean for you and your family in your current residence or if you plan to move? First and foremost, take note that not all sex offenders are violent or have multiple offenses. It is best to err on the side of caution and to be informed of sex offenders in your community because this ruling will now be upheld in the state of Ohio. You may obtain additional information on the sex offender registry here.

3CDC continues to work on improving the greater areas of Over The Rhine and Downtown Cincinnati. Projects are being initiated at a rapid pace, even as recent as Friday the 8th. Phase III of the Gateway Quarters project began with the demolition of an nondescript building to make way for store front retail and mixed housing that will serve the existing and future residents.

More important than building structures, the project is making the downtown area more attractive to new residents, and new businesses. Part of the economic redevelopment certainly depends on the having space for new potential employees to live. Part of the philosophical foundation for inner city redevelopment is based in the ideas of Richard Florida;s book Rise of the Creative Class. In short it says that if you have interesting, diverse living spaces, in an area surrounded with cultural activities you will attract the kind of talent that is important for luring in new businesses. People first, then industry … not the other way around.

In his 2008 State of Cincinnati speech Mayor Mallory discussed several factors that will play a part in the growth of the city in 2008 and the years to come. Two key points we took from the speech were the government’s commitment to keeping the crime rate in a steady decline, maintaining current jobs, and attracting new ones. Both are central to the vitality of the in-town real estate market.

The city has made extensive progress in reducing violent and drug related crime through partnerships with CPD, Hamilton County Sheriff and the Ohio Highway Patrol. The Cincinnati Chamber of Commerce in cooperation with the Mayor’s office continues to press forward with the GO Cincinnati initiative to build and maintain the job and economic base. These efforts will bring in new companies to support the growing economy.

All of this effort and energy is transforming Cincinnati back into the economic center of the tri-state.With this job growth comes a increased need for housing. The tax abatements now being offered make up and coming areas such as Over the Rhine, attractive places to buy a home. The new condominium and loft market in the downtown business district continues to add units and tenants at a rapid pace. In addition this growth will bring new employees looking for suburban residences on both the east and west sides.

The Cincinnati Public Schools System is in the midst of building its first LEED Certified school to services Amberly Village, Gold manor and Pleasant Ridge. The new Pleasant Ridge Elementary, designed by Steed Hammond Paul was engineered to meet the standards of the Leadership in Energy and Environmental Design (LEED) Green Building Rating System™ created by the United States Green Building Council. The LEED building exercise has been a true learning experience that CPS is carrying forward into the 10 year, $1 Billion dollar Facility Renovation Master Plan project in which over two dozen school will be refurbished.

Just to the North of the heart of the University of Cincinnati sits Ludlow avenue. And exceptionally eclectic and vibrant street filled with a menagerie of shops, restaurants and mosaic store fronts. Ludlow Avenue is going through a major urban planning and redevelopment that is sure to improve the physical function and aesthetic appearers of the area.

This section of Clifton is mainly populated by old architecture and the unique food and shops there shows the diversity of a area. In addition on the south side of the UC campus on Calhoun Street there is significant construction going on as the university adds additional student housing, new shops, and restaurants. Moreover the Painter group is planning a green development in Clifton with shops and graduate housing just off campus.

Fall in Cincinnati is like no other place. There are so many amazing things to do here before we get into the full throws of chilly winter. Outdoor activities abound including Ice Skating and broom ball at Fountain Square Park, fall sports leagues, and unique cultural events like Ethiopian Hip Hop concerts, A Lion In Winter, and Seusical Jr.. Coming up in the next few weeks there are even a few organized runs being put together by Fleet Feet in Blue Ash including an evening run at 6:30 pm December 8th followed by a happy hour, and an early Christmas Eve run at 8:00 AM December 24th.

Although we moved a bit out of Downtown, we did look at a few of the new buildings that are being converted into residences. It is a great trend to see large building space turned into living space. Aside from helping commute traffic volumes it is reducing the amount of gasoline we use. The new residences such as the One River Plaza complex and the redevelopment of the old McAlpin Department store are great examples of new and renovated buildings.We are all very excited to see what things materialize as The Banks multi use project gets underway. Any way we look at it it is an exceptional time to be in Cincinnati and enjoying the crisp weather and great sights and events.