This Sunday we will be holding an open house at 3121 Dot Dr. It will be open from 12:00 noon through 1:00 PM. If you or anyone you know is looking for an amazing 4 bed 2 1/2 bath home in Amberley then we encourage you to stop by. The complete renovation is stunning and this is an opportunity not to be missed.

5 Tips to Selling a House in the Winter

1. Price Your Home to Sell – Realtors in Cincinnati and elsewhere will tell you to be reasonable on your asking price, but this is especially true in the winter months. If you are a new listing you have to realize you are competing with stale holdover listings from the Summer and Fall. Proper pricing gets attention and can lead to a faster sale.
2. Use the Right Real Estate Pictures – Make sure that your home has exterior images on days where there is no snow, and there is tons of light. That image is the first thing a potential buyer will see online. If you think you may sell in the Winter get a picture in the Fall before the leaves and snow fall.
3. Clean Up Your Front Yard – Snow only covers so much, so make sure you clean up all of the Fall leaves, branches, and rake out the flower beds. Make sure that your exterior lights are all in good working order, and shovel / salt your driveway and walkway every day. You never know when you will have a showing!
4. Winterize Your Home’s Decor – Yes it is winter, but that is not license to cover every square inch of your house with Christmas decorations in early November and leave them up until February.  Seasonal decorations are certainly appropriate, but aim to make the decorations highlight the home not overshadow it. Remember that you want the home to appeal to as many people as possible.
5. Warm Your Home Up – In Winter you want a home to feel as warm and welcoming as possible. That means two things in particular: Lighting and Heat. If you do not have a lot of overhead light in the home go out and purchase additional floor lamps to make rooms look bright and inviting. Also set your thermostat higher, if possible, when you know you have showings. Nothing is more comforting that walking into a toasty house from a snowy driveway.

Interested in listing your home this Winter? Contact us to talk about how we can help you sell your home.

What is Driving the Increase in Cincinnati Real Estate Sales?

What are the driving forces behind the increase in sales this month? “Home affordability and low interest rates,” said Pete Kopf, president of the Cincinnati Area Board of Realtors. “Economic uncertainty continues to hamper the housing market, but this is a great time for first-time home buyers, move-up buyers and even investors to take advantage of our extremely affordable market.”

What is Driving the Decrease in Prices of Cincinnati Real Estate?

There is common belief that the increase in the number of Foreclosures sales is pulling down the average price and increasing the sales volume. Overall this is a good thing since it is moving inventory off of the hands of the banks, and moving this inventory out of the system is the painful part of this recovery process. As the economy begins to add jobs look for price points to increase and sales to pick us as well. A second factor is that the number of high end properties being sold has slowed, and each multi-million dollar house sold can drastically impact the average price per sale in a market that moved just over 1,300 homes in October.

6665 West Beechlands Drive

Move right into this gorgeous traditional 4 bedroom complete with a separate study nestled on a 1.4 acre retreat. Enjoy the family room with a wood burning fireplace and walkout to the tiered deck which is ideal for entertaining friends and family. The kitchen features new granite countertops, cooktop, and newly refinished hardwood floors. All of the bedrooms are large, especially the spacious master bedroom and all of the upstairs hall bathroom has new granite countertops. The large living and dining rooms have spectacular hardwood floors and lots of natural light.  There is neutral paint throughout awaiting the new owner.

13 Coventry Court

This stunning home has almost 3,200 square feet of living space per auditor.  With 4 bedrooms and 3 1/2 bathrooms, this property is nestled in park-like setting with mature trees and a tranquil creek in the backyard!  The home features an open floor plan in the living space with vaulted ceilings, a wood burning fireplace and an abundance of natural light. Walk out from the great room onto a gorgeous tiered private deck and screened porch overlooking the woods. All of the bedrooms are oversized, including the 1st floor master with walkout to a private courtyard. The master has a walk-in closet, skylight, and jetted tub.  In the lower level there is a large living room with a bar, fire place, a 4th bedroom and full bathroom.

Rising home values in Cincinnati

The rising home values are just one of a few positive measurements. The average months of inventory has declined by 18% from 11 months of inventory in 2010 to 9 months of inventory in 2011. Inventory of 6 months is considered a balanced marketplace. This and low interest rates continue to tip the market in buyer’s favor.

September Home Sales in Cincinnati

Closings               Gross Volume          Average Price
September 2011       1,419                 $214,289,828          $151,015
September 2010      1,303                 $202,091,490         $155,097
Variance                  + 8.90%               + 6.04%                  - 2.63%

So the question is HOW MUCH DOWNWARD PRESSURE are these foreclosures putting on the rest of the market? According to The National Association of REALTORS® distressed homes sell for 20 percent off. So in theory a foreclosure impact adjacent home prices by as much as 20%, but in most cases not that much. Why not that much? Because when Real Estate agents and appraisers evaluate home values during listings and appraisals foreclosures and short sales are not typically treated with the same weight as consumer owned property.  Some buyers may opt for the discounted distressed home taking them out of the pool to buy up consumer listed homes.

If you are considering buying a distressed property contact me for research, advice, and assistance in negotiating with Banks and Servicers.

Open House Sunday 9/11/2011

Move right into this gorgeous traditional 4 bedroom complete with a separate study nestled on a 1.4 acre retreat. Enjoy the family room with a wood burning fireplace and walkout to the tiered deck which is ideal for entertaining friends and family. The kitchen features new granite countertops, cooktop, and newly refinished hardwood floors. All of the bedrooms are large, especially the spacious master bedroom and all of the upstairs hall bathroom has new granite countertops. The large living and dining rooms have spectacular hardwood floors and lots of natural light.  There is neutral paint throughout awaiting the new owner.

6 months of Ohio mortgage rate information from Bankrate.com

Rates on 30 year fixed mortgages are now at record lows according to the Washington Post and that is great news for those of you who are looking for a mortgage!

The average rate on a thirty year fixed rate mortgage has fallen to the lowest rate ever on records dating back to 1971. This month the rate on a thirty year fixed rate mortgage dropped to an astonishingly low 4.15%. Five years ago, the average rate for this same kind of loan was 6.5%. In 2000, the rate hovered at 8%. In fact, the last time rates this low were available was the 1950s – talk about a throwback!

With mortgage rates as low as they are, now is a great time to buy. Recent clients have been able to lock in low mortgage rates, helping them to afford houses that would have been out of their budgets just a year or two ago. The current low rates can make a real difference in the size of your monthly payment. As a Realtor in Cincinnati, I am always thrilled to help clients to find the home of their dreams at a mortgage rate they can afford. Send me an email today so that I can help you find an an affordable home of your own!