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.

Regionally the story is not so bright. The official Pending Home Sales Index report includes a region-by-region breakdown. Between May and June 2011, results varied by region:

• Northeast Region: -0.4%
• Midwest Region : -3.7%
• South Region : +4.4%
• West Region : +6.4%

Pending Home Sales in Cincinnati

Locally it is important to research the pending sale activity varies by town and even by neighborhood.  Within Cincinnati certain neighborhoods are seeing decreased days on market and slowly rising prices. We have seen a ebb and flow in our local markets and that activity may be tied to larger economic activity. Traditionally there is a second selling season in Cincinnati in late summer. We are excited to help all of our active buyers find homes as we head into fall!

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.

The two key metrics shown in the below graph are the volume of homes that are for sale and the number of sold homes. The numbers show that there are 14% fewer homes for sale June 2009 compared to June 2008. In addition there are 5.5% fewer home sales this year compared to last. What is even more important is the ratio of for sale to sold. In 2008 there was an 8.1:1 ratio and that ratio fell in 2009 to 7.4:1!

That ratio is a key indicator in the strength of the housing market. As that ratio drops lower and lower the demand for houses will begin to equalize with the supply. The ratio will continue to drop due in a large part to the increased number of pending transactions. When this happens, like in all markets, prices begin to rise, and the time it takes to move merchandise drops. In real estate this is the transition period from a buyers market to a sellers market.