Offered at $239,900
Own one of the largest & most updated homes in Claiborne! 2ft bumpout adds additional square footage to the entire home. Enjoy the space of 9ft ceilings, built-in book cases, and rich hardwood floors. The entire kitchen is updated, and the large master bedroom had vaulted ceilings. The is a spacious family room a1st floor laundry, finished basement! Newer A/C, roof, furnace, water heater and an expansive back yard and deck!
Local Cincinnati mortgage rates are rising while the rest of the nation’s rates are falling, according to Cincinnati.com. At the end of July the average rate for 30-year fixed loans was 4.54 percent nationally while in Cincinnati the average 30-year rate was 4.76 percent.
The article give no clear reason for the difference in rates, aside from the fact that rates change on a daily basis – even a hourly basis because of a number of market pressures and activities. The most important thing in getting a loan is making sure that you have found a mortgage lender who you trust. I have listed a few lenders in my Cincinnati Mortgage Resources page if you are looking for brokers to contact.
The Cincinnati Real Estate market is regaining some of it value according to an article in the Cincinnati Business Journal. The local market ranked #14 out of 50 national metropolitan areas based on value increases over the second quarter. Nationally home values are up almost 8% in the second quarter vs the first quarter. However Cincinnati gained 10%. As a region the Midwest has seen the strongest price increases in real estate compared to last year.
The challenge continues to be that all real estate is local. Some desirable areas of Cincinnati actually appreciated as the housing bubble burst and continue to hold their value. This situation speak volumes about the strength of our community and our local market
Effective June 1, 2010 Fannie Mae is mandating a number of additional qualifications for each mortgage application. These additional mandates are intended to ensure that the information collected from buyers when they apply for a mortgage are the same as when they go to close. Fannie Mae is requiring lenders to re-verify a number of pieces of buyer data including their credit scores, employment, and making sure the borrowers are not on the ‘un-approved’ list maintained by the General Services Administration.
As a Cincinnati real estate agent I have a responsibility to guide buyers through the application process, ensuring that they provide accurate information on all of the documents. Because the lenders are re-checking the information if any of it changes it could cause the loan to go through another round of underwriting. To protect my buyers I am advising them to work very closely with their lenders to keep their information current.
249 Hastings offered at $189,900
249 Hastings is a 2 bed 3 bath townhome situated on a quiet cul-de-sac. Walk to the University of Cincinnati, and live just minutes to downtown., Both bedroom have private baths and walk-in closets. Enjoy 180 degree panoramic city & river views from the two tier deck. The kitchen is complete with new granite counters, a breakfast nook, and a large pantry. There is a large lower level study with a separate laundry area and a 2-car garage.
Enjoy the luxuries of a high end home at a low price on quiet gaslit street min from 71 & shopping in Kenwood! Take in the summer breezes on the quaint covered porch. There are 2 oversized bedrooms, walk-in closets and an immaculate master bathroom. The dining room and living room feature a wood burning fireplace. The home has fresh neutral paint and carpet with hardwood floors underneath. There is a walk-in Butlers pantry, a one car attached garage and a back patio.
The outdoor kitchen is becoming a gathering spot for family and friends especially in a city like Cincinnati that tends to have good weather 8 months a year. The trend picks up where the back yard grill leaves off. The stand alone grill is getting replaced by a fully functioning kitchen complete with all of the comforts and appliances found inside.
The centerpiece of any outdoor kitchen is the grill. RSI media says that the one place to stretch your budget is on making sure you have a durable, and great performing grill. Gas, wood, or charcoal – doesn’t matter. Other appliances that are common are sinks, refrigerators, and in some cases keg taps, wine chillers, and even ice makers. In some instances homeowners are replacing the grill with a pizza oven!
When designing your outdoor kitchen consider the utilities, including water, gas, and electricity. Placing the kitchen near the home will give you better access. In addition consider the materials carefully. Color is important but also consider how hot your counters get in the sun, and how slick the flooring is if you spill BBQ sauce on it.
Outdoor kitchens help increase a home’s overall appeal to buyers. When you install you remember not to over-personalize it. Aim for a balance between function and pure aesthetics. remember to
Recently there has been speculation that there is now a Medicare tax on home sales as part of the new federal health care bill. That is not true!
According to the language in the law, as explained in this FactCheck.org article, the Medicare tax would be assessed only on proceeds from the sale of a home that are ALREADY SUBJECT TO TAXATION.
Every American who sells a home can earn up to $250,000 of proceeds tax free from the sale of the property. Couples that are married can earn $500,000 of proceeds before having to sell taxes. Proceeds are your profit – so if you purchased a home for $100,000 and sold it for $300,000 your proceeds are are only $200,000.
Moreover the medicare tax would only apply to high earning individuals with annual incomes of – $200,000 individuals and $250,000 couples. So in order to pay this tax a married couple would have to earn $250,000 in income and net over $500,000 in proceeds from the sale of their home. And the tax is only 3.8% on every dollar over $500,000.
Make sure that when you sell a property you always consult your tax professional for assistance in planning and recording for the IRS. The Government affairs office at the Cincinnati Area Board of Realtors provided additional information for this post.
Due in large part to the Federal Housing tax credit the pending home sales in April surged to a 110.9 index rating up from 104 in March. How do we know that the tax credit was the cause of the increase? Well we can look at the historical data and see that the last surge of pending home sales occurred in October 2009 just as the prior tax credit was expiring according to RSI media.
Locally in the Midwest the index rose 4.1% to 104.2 and is 17.9% above April 2009 index. The Cincinnati market was certainly impacted by the credit. Scores of buyers looked to take advantage of the program, and in turn helped to stimulate the regional economy as well. Each new home purchase helps to provide work for contractors, inspectors, title companies, and movers just to name a few impacted industries. While the tax credit was positioned to help the real estate market the halo effect is that the increased volume of home transactions really has stimulated commerce in a number of sectors.
A number of my discussions with other real estate agents and clients have focused on the state of the Cincinnati Real Estate market after the $8,000 tax credit. The situation is very postive because there are a number of other factors that are supporting a very active residential real estate market in Cincinnati and elsewhere in the nation.
A recent survey by Better Homes and Gardens found a number of factors weighing on the minds of potential buyers concentrated on the current level of affordability in the market. The research shows that nearly two-thirds (63%) believe it is a “buyer’s market,” more than half (54%) feel that mortgage rates are affordable, and 70 percent indicate that there are affordable homes on the market. The reason that buyers are still buying is that they can afford to buy good properties at lower prices with affordable loans.
I believe that it is this overall affordability that will support the residential market through the next year until the overall economy stabilizes and. As the economy heats up and interest rates rise look for the overall housing prices to rise also. Hopefully they will be in tandem with lower unemployment and increases in wages.
Enjoy one of the largest homes in Claiborne, Stunning hardwoods, contemporary fixtures, 4 full bedrooms and a gorgeous yard. Offered at $239,900
A move-in ready townhome in Mason. Two master suites with attached bathrooms, an upgraded kitchen and an open floor plan. Offered at $140,000
249 Hastings is a 2 bed 3 bath townhome minutes from from downtown and UC. Enjoy the newer construction, quiet cul-de-sac, and stunning 180 panoramic city and river views. Offered at $189,900
Offered at $99,900