Weep holes allow air to circulate into the walls of your home and that allows moisture to evaporate, or condense and run out. Since moisture has a place to escape it does not build up and cause water damage on the studs behind your brick exterior walls.  Wind driven rain can penetrate brick, which is why homes are built with a small space between the brick exterior and the wood frame. The water runs down the back of the brick and out of the weep holes.

I have taken extra care to work with my home inspectors to make sure that weep holes are present and not painted over in all of the masonry home I am listing and selling to buyers.

If you are in the market to buy or sell a home in Cincinnati with masonry walls look for your weep holes and give me a phone call for a showing or a listing presentation.

5 of the the last 6 months of 2010 have seen an increasing trend in sales volumes.  The growth is tied to the slow economic recovery.  The sales composition is what is a bit concerning. The national median existing-home price for all housing types was $168,800 in December, which is 1.0 percent below December 2009, and now more than 33% of all homes sold are foreclosures, or short sales.

The long term real estate outlook is closely tied to the economy. Look for slow and steady job growth which will be a leading indicator of the housing market. Unlike in prior decades the economy will save the housing market and not the other way around.

They looked at:

1. The current median asking price of homes on the market in each city

2. The median salaries of workers with bachelor’s degrees or higher

3. A cost-of-living index that considers factors in transportation, insurance, food, utilities…

4. The latest unemployment rates from the Bureau of Labor Statistics

Yahoo! then took those number in a grid a created an overall ranking to determine the city with the best overall affordability.  As you look at the numbers below our housing affordability is a strong driver as is our overall cost of living. Cincinnati is competitive in Salary for our industries and size of the city and hopefully our unemployment rank will improve with the economy. The below numbers show only a small piece of why Cincinnati is an amazing place to live.

Cincinnati, Ohio
Asking Price Rank: 4
Salary Rank: 25
Cost-of-Living Rank: 6
Unemployment Rank: 32

If you are relocating to Cincinnati and want more information call me at 513.518.1140.

249 Hastings offered at $179,900

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.

The real question is what will 2011 bring? To date 2010 is averaging 4.69% for the first 11 months of the year but will it stay this low? The main factor is how quickly the economy heats up and how the Federal Reserve reacts to contain inflation. If they raise their interest rate you can bet that mortgage rates will quickly follow. At this point the economy is still volatile and some of our best mortgage information sources are still only making rate predictions in terms of weeks not years.  The bottom line is if you are considering a purchase and are waiting for interest rates to be more favorable than now you may loose out!

Call me today to schedule a showing 513-518-1140

Can the average household with average income buy an average home?

Compared to the rest of the nation Cincinnati has a few things in its favor. The report lists the national median home price at $177,900, and Cincinnati’s median home price at $137, 250.  Our home prices are 22% less expensive than the national average. On to of that our median household income is $8,000 higher than the national average. These two things combined give Cincinnati an affordability index of 257 vs the national average index of 172. In this case a bigger number is better!

In fact, RIS Media recently reported that younger homeowners have higher average mortgage interest deduction in the 35 to under-45 age group, followed by the 18-to 34-aged taxpayers, and declines as the taxpayer gets older. According to the research, this occurs because the mortgage interest deduction peaks soon after the taxpayer moves from renting to homeownership, and declines over time as homeowners pay down existing mortgage debt and increase homeowner equity.

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

1549 Northview Ave.

Offered at $150,000

This charming cape cod is in a prime Northside neighborhood. This home is nestled on a quiet street but is walking distance to local restaurants and The Comet. This house has been well maintained and has newer windows! There are three bedrooms and two full bathrooms. The upper level master suite has a walk in closet and expansive sitting room. The back yard is very large and beautifully landscaped.