Cincinnati, OH Real Estate News

By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
 Newsweek magazine recently published its annual list of "America's Best High Schools."  Selected to the list were approximately six percent of all the nation's high schools.  It included four Cincinnati Area schools.  Walnut Hills High School is a selective, college preparatory school, part of the Cincinnati Public Schools. It has 2097 students in 9-12th grades, though grades 7 and 8 are also in the same buildings. Indian Hill High School is the only high school in the Indian Hill School District.  Mariemont High School is also the only high school in the Mariemont School District.  Both are relatively small high schools, 685 students in grades 9-12 at Indian Hill and 499 in grades 9-12 at Mariemont. Turpin High School is one of two high schools in the Forest Hills School District, ser...
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By Matt Clark, Cincinnati Real Estate
(RE/MAX Results)
Some people seem worried about what will happen after the Federal Tax Credit expires. Will people still be buying homes in Cincinnati or will the market come to a screeching halt? Want to hear my two cents? The tax credit definitely made people push their purchase decisions into high gear during the first quarter of 2010, but buyers, even first time home buyers are still out there in the market even after the expiration of the tax credit. I even had a few first time home buyers that didn't rush to buy because the $8,000 wasn't even important in their decision. A recent survey done by Prudential Real Estate and Relocation Services shows that the end of the federal tax credit will not deter buyers from continuing to buy homes. Want the stats? More than 90% of those surveyed believe the ho...
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By DotLoop Company
(The DotLoop Company)
Here at DotLoop, we talk a lot about designing walkable, people-focused communities that offer amenities and connectedness with neighbors and businesses alike.We think it's important that people feel connected to their communities and that, as home-owners, they have a sense of home that reaches beyond the end of their lawn.That's why I'm so excited for today's announcement from Transportation Secretary Ray LaHood of $293 million for new transit solutions for dozens of communities nationwide.The investments include six new streetcar and rapid bus transit projects along with 47 additional projects to upgrade current bus services. This will be part of the Federal Transit Administration's Bus Livability Program. DotLoop is especially excited that our very own city of Cincinnati received inv...
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By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
Hyde Park or Oakley?  Hyde Park or Oakley?  Residents of Hyde Park East are miffed with the decision made by the Cincinnati Area Board of Realtors to use CAGIS as the decision making body on street locations.  Streets off of Erie Avenue, including Ashworth, Hampton, Broadview and Forest Hills are affected.  After being called part of Hyde Park in MLS for the past 40+ years, they are now being put in MLS as Oakley.  All because of CAGIS. So, what is Cagis?  They describe themselves in part as: "The mission of the Cincinnati Area Geographic Information System (CAGIS) is to create a revolutionary computerized information sharing system that enables the fundamental transformation of government and utility service management and delivery. CAGIS is to offer government, utility companies, grou...
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By Kris Cooper
(RE/MAX Go Beyond)
Phase 2, the $7.2 million removal and reconstruction of the Monmouth Street overpass. Property acquisition has begun for four of the project's eight phasesCamp Washington land to be sold for I-75 project Cincinnati City Council has approved unanimously the sale of surplus City-owned property to the State of Ohio as part of the $664 million I-75 Mill Creek Expressway project. The five parcels, totaling approximately 4.3 acres and roughly bounded by Central Parkway, Colerain Avenue, Bates Avenue and Sassafras Street, will be sold for $2.42 million. The property is needed for the project's $99.6 million fourth phase, which will rebuild 1.32 miles of interstate from the Western Hills Viaduct to the Monmouth Street overpass – including the complete reconstruction of the Hopple Street interch...
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By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
Turn your Fourth of July weekend into three days of celebration.  All over town, villages and cities are providing us an opportunity to celebrate our nation's beginnings.  Just so you don't miss them, here is information about some of the excitement.  Since my birthday is July 4, be sure you celebrate my birthday, too! Go stand on the top of one of our many hill tops...the fireworks will be all around you!  JULY 2 Madeira - Downtown Madeira all the way to Sellman Park. This is part of Madeira's celebration of its Centennial. There will be floats in the parade starting at 6:30 pm with fun and food in the Park until fireworks at 10 pm. Free. JULY 3 Coney Island Park - LaRosa's Balloon Glow -Starting at 1 pm until fireworks at 10 pm. Coney Island comes alive at the 11th Annual LaRosa's Bal...
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By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
Homes and condo sales continued at a brisk pace for May, 2010 in Anderson and Newtown.  48 homes closed in the month of May.  There are currently 73 homes pending closing and 464 homes and condos that are actively listed for sale.                        Troubling issues raised by the above graph show that we are still not back to the average prices of homes and condos sold in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances. According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) have been slower in May.  This is caused by the end of the home...
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By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
Homes and condo sales continued at a brisk pace for May, 2010 in Montgomery, Blue Ash, Symmes Township and Sycamore Township (Sycamore School district).  59 homes closed in the month of May.  There are currently 80 homes pending closing and 396 homes and condos that are actively listed for sale.                        Troubling issues raised by the above graph show that we are approximately at average prices of homes and condos sold in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances. According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) ha...
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By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
Homes and condo sales continued at a brisk pace in May, 2010 in Mt. Adams.  6 homes closed in the month of May.  There are currently 4 homes pending closing and 40 homes and condos that are actively listed for sale.                       Mt. Adams is one of the few areas of Cincinnati showing signs of rebounding. Prices so far in 2010 are significantly above last year and 2005.  Most homes in Cincinnati are currently averaging below prices sold for in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances. According to Credit Suisse's monthly survey, traffic levels (number of visitors to ho...
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By Saralou Durham, Cincinnati Perspective Hyde Park,Anderson,Mt. Adam
(RE/MAX Preferred Group - Cincinnati Real Estate Team)
May, 2010 home sales vs. May, 2009 home sales are up 24.4%.  That makes three months in a row where the number of closings exceeded the 2009 numbers.  The major reason for this increase is related to the federal tax credit.  But, you say it ended in April!  Yes, the ability to write a qualifying contract ended on April 30, but buyers have until June 30 to close the loan. At this point the House and Senate have a bill in front of them extending the time to close until August 30.  Why would it be extended?  Many builders accepted more contracts on new homes than they have been able to build in the time allotted.  Bank short sales and foreclosures often take months longer to close than predicted, delaying the closing dates again and again.  This legislation may or may not be pass in time. ...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
Living Rent Free After a Foreclosure In a sign of the times, more and more Americans are living in their homes post-foreclosure. An article in RSI media detials the growing phenomenon and attibutes the situation to the volume of foreclosures that have washed over the banks and the fact that they were not prepared to process them. But the reality is that this situation has its advantages. The families that stay in the home post-foreclosure tend to keep the utilities on and maintain the property. They keep the A/C running which dehumidifies the house inhibiting mold growth and they winterize the pipes preventing costly leaks. In addition an occupied home is less likely to be vandalized (broken windows, copper theft) than a vacant home. The backlog is one factor contributing the situation...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
Pending Home Sales Surge in Cincinnati and US 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 ...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
Which is a better investment Stocks or Real Estate If you had invested $100,000 in the stock market in the 1st quarter of 2000 (10 years ago), what would your investment be valued at today?  Of course the answer would depend on what the specific stock or stocks you bought, but consider this: The Dow went from 10,921 on January 3, 2000 to 10,583 as of Jan 3, 2010  — and at this writing it’s hovering around 10,186.  So, $100,000 invested in a DJIA-like stock portfolio ten years ago would now be worth less than $100,000. See the DJIA information for reference. By comparison, the average house purchased for $100,000 in the Cincinnati-Middletown-OH-KY-IN MSA during the 1st Quarter 2000 would have been worth $122,438 in the 1st Quarter of this year. Click here for FHA data.  Of course, all r...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
Hamilton County Computer and TV Recycling The Hamilton County Solid Waste Management District proudly announces the opening of the Cincinnati 2010 computer/TV recycling program. In an effort to properly and safely dispose of TVs and and computers Hamilton County is setting up drop-off days for its residents. The program will begin Tuesday, June 1 and run through Wednesday, June 30th. Hours are Monday – Friday, 9 am – 4 pm, and on Saturday, June 19th from 9 am – 2 pm. Drop-Off Location: 11085 Kenwood Road Blue Ash, Ohio 45242 As a reminder, this program is for Hamilton County, Ohio residents only. If you have any questions contact  Susan Schumacher the Assistant Solid Waste Specialist at the  Hamilton County Solid Waste Management District at 513-946-7734. Community Building, Green Livi...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
Shepard Fairey Mural and Cincinnati Property Values Recently the artist Shepard Fairey launched an extensive art show in Cincinnati and as part of the exhibition he created murals on the sides of some buildings in and around Cincinnati. One of the murals was recently painted over because the property owner was upset by the images contained in the “Duality of Humanity 4 Pike Street”. I wanted to offer some insight and opinion on murals and property values. Frankly – it depends. It depends on the neighborhood, it depends on the mural content. There are some instances where murals ad tremendous beauty and value to neighborhoods and showcase the diversity and vibrance of the culture. In some cases murals can be a distraction. If you or your community are planning a mural hire a professiona...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
New Mortgage Applications are Down to a 13 Year Low Applications for primary home mortgages are down to level not seen since May 1997. The Mortgage Bankers Association, the trade group for mortgage bankers, is attributing this to the expiration of the federal tax credit and overall slow economic revival. The data points to the week ending May 14. To be completely fair, what the tax credit did was encourage people who would have purchased a home in the summer make an earlier decision. The tax credit was an incentive and it front-end-loaded the sales activity in the housing market. As I predicted and explained in our January post the first time home buyer tax credit impacted the real estate market cycle, accelerating sales activity by nearly 2 months! What I am seeing is that the market ...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
The Cincinnati Real Estate Market after the Tax Credit 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.   T...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
New Home Affordable Foreclosure Alternatives Program Rules Impact Cincinnati Real Estate Market The Federal Government has recently implemented another program designed to assist home owners in financial trouble. The government has already rolled out the Making Homes Affordable Modification Program (HAMP) designed to help homeowners modify their mortgages. The new Home Affordable Foreclosure Alternatives Program (HAFA) goes one step further. In the case where someone has already had a loan modification and is still not able to pay their modified mortgage. The HAFA program essentially pre-approves participants for ’short sales’, fast-tracking them to sell their home and settle their debt with their creditors.. The program is efficient because it already uses financial hardship informati...
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By Alison Moss, Cincinnati Real Estate
(Keller Williams Seven Hills)
  EPA Issues New Lead Based Paint Regulations At the end of April the EPA issued new regulations for contractors who work in homes built before 1978. Before 1978 paint was made with lead as a base ingredient, and therefore the EPA has issued a mandate that all contractors receive proper training on how to safely work in homes that may have Lead based paint in them. If you have been thinking about doing a bathroom renovation, or possibly have dreams of a new kitchen it is important for you to now make sure that your contractor is certified by the EPA to work in an environment with Lead based paint. The contractor must take a course and pass an exam to be certified, or be supervised by someone who is certified in order to do the work. In real estate transactions bank underwriters are requ...
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By Guy Adams, I'm Your Guy!
(Berkshire Hathaway HomeServices Professional Realty)
Pair threatened with fines, jail for house they no longer owned   Mark Bullock and Laura Hamilton thought the fight to keep their West Price Hill house ended the day the bank sent someone over to change the locks in 2007. The married couple faced bankruptcy and had fallen behind on mortgage payments and other bills, so they weren't surprised when the house finally went into foreclosure. They were sad, but they figured the struggle was over and they could begin to rebuild their lives. At least that was the plan. But the couple would spend the next three years trying to navigate the maze of one of the most complicated and frustrating foreclosure cases in Hamilton County since the housing boom went bust. They became the target of building inspectors, faced tens of thousands of dollars in ...
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