Seven U.S. cities, mostly in older, industrial areas, are facing economic problems similar to those of Greece and Spain.Moody’s Investor Services and Standard & Poor’s have identified debt pressures in the following cities as particularly heavy: Harrisburg, Pa. Woonsocket, R.I. Detroit Pontiac, Mich. Harvey, Ill. Littlefield, Texas Central Falls, R.I. When cities default, vendors, such as road construction and garbage collection firms usually take a harder hit than bondholders because cities want to be able to borrow again. Residents often feel the most pain, losing city jobs and services while being faced with higher taxes.Source: CNNMoney.com, Hibah Yousuf (06/01/2010) 06/02/2010

The majority of real estate agents are missing out on a key strategy that will yield them much higher rankings on Web search engines. Most practitioners are competing with each other over short-tailed keywords, which are just a few words strung together that Internet users type in for searching purposes. This is a misguided step on the part of real estate professionals, since as much as 80 percent of all search engine activity actually uses long-tailed keywords — phrases typically consisting of five to seven words. For property searches, many prospective buyers have very specific details in mind and therefore will not search under a broad term such as "San Diego real estate," for example. Rather, they are more likely to enter a phrase like "San Diego three bedroom home in gated communi... 06/01/2010

Companies are changing and expanding relocation policies to accommodate employees who otherwise are refusing transfers because they don’t believe they will be able to sell their homes for enough money. Worldwide ERC, a trade organization for human resource associations that oversee, manage, or support employee transfers, surveyed 129 companies in 2009. The survey found: 28 percent of employers are requiring transferred employees to list their homes within a reasonable range based on an appraisal in order to qualify for assistance. 26 percent have added incentives for employees to find their own buyers for their homes. 26 percent have extended the time they will pay for temporary living assistance. 20 percent have added a requirement that employees use selected real estate professionals... 06/01/2010

Price: $237,300 FIZBER.com ID 15975143 Single Family with 3 bed, 2.5 bath, in 5589 Wayside Ave Cincinnati, OH, 45248 http://www.fizber.com/15975143/ 5589 Wayside Ave - For Sale By Owner Property Details: Type: Single Family Address: 5589 Wayside Ave, Cincinnati, OH, 45248 Sq footage: 0.0 Floors: n/a Bathrooms: 2.5 Bedrooms: 3 Year built: 0 View full property details and seller's contacts. View more Ohio homes for sale. Homes for Sale by Owner. Description: see additional photos below RENTAL FEATURES - Air conditioning - Central heat - Fireplace - Walk-in closet - Hardwood floor - Tile floor - Family room - Living room - Bonus/Rec room - Office/Den - Dining room - Breakfast nook - Dishwasher - Refrigerator - Stove/Oven - Microwave - Stainless steel appliances - Attic - Basement - Washer... 05/31/2010

Price: $140,000 FIZBER.com ID 16692431 Single Family with 2 bed, 1.5 bath, in 536 Mount Hope Ave, Cincinnati, OH, 45201 http://www.fizber.com/16692431/ 536 Mount Hope Ave, - For Sale By Owner Property Details: Type: Single Family Address: 536 Mount Hope Ave,, Cincinnati, OH, 45201 Sq footage: 1945.0 Floors: n/a Bathrooms: 1.5 Bedrooms: 2 Year built: 0 View full property details and seller's contacts. View more Ohio homes for sale. Homes for Sale by Owner. Description: Michael Holm | Holm's Sweet Homes | 513-638-5417 536 Mount Hope Ave, Cincinnati, OH Gorgeous 2BD/1.5BA in Price Hill - Completely Remodeled!! 2BR/1+1BA Single Family House $800/month Bedrooms 2 Bathrooms 1 full, 1 partial Sq Footage 1,945 Parking 2 dedicated Pet Policy Cats, Dogs (any) Deposit $6,000 DESCRIPTION This comp... 05/29/2010

Price: $347,000 FIZBER.com ID 16692430 Single Family with 4 bed, 2.5 bath, in 10702 Escondido Dr., Cincinnati, OH, 45201 http://www.fizber.com/16692430/ 10702 Escondido Dr., - For Sale By Owner Property Details: Type: Single Family Address: 10702 Escondido Dr.,, Cincinnati, OH, 45201 Sq footage: 1790.0 Floors: n/a Bathrooms: 2.5 Bedrooms: 4 Year built: 0 View full property details and seller's contacts. View more Ohio homes for sale. Homes for Sale by Owner. Description: Michael Holm | Holm's Sweet Homes | 513-638-5417 10702 Escondido Dr., Cincinnati, OH Beautiful 4BD/2.5BA in Up-Scale Montgomery-Sycamore Neighborhood!! 4BR/2+1BA Single Family House $2,150/month Bedrooms 4 Bathrooms 2 full, 1 partial Sq Footage 1,790 Parking 2 dedicated Pet Policy Cats, Dogs (any) Deposit $8,000 DESCRI... 05/28/2010

Miss Out On the Federal Tax Credit? No Problem...State and Local Incentives Now Available If you're like many people, coming up with a down payment and getting a mortgage loan are keeping you from realizing the American Dream. Good news! Now, there are state and local homebuyer assistance programs to help you with a mortgage loan and down payment. If you are an Ohio resident, here are three sources you'll definitely want to check out: 1. Ohio Housing Finance Agency (OHFA), an independent state agency, is offering home buying assistance programs plus help with down payments. 2. City of Cincinnati has the American Dream Down Payment Initiative (ADDI) that provides down payment assistance on home purchases located within the city limits. 3. Community Development Banking Forum, a group of ... 05/28/2010

Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do. Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting until May. At April’s average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,561.82. The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625 percent in May and paid $1,439.59 per month. That’s a $1,467 annual savings. Over 30 years, it’s a $44,003 savings, dwarfing the tax credit. Source: Informa Research Services (05/26/2010) 05/27/2010

Fewer Buyers Consider Foreclosures Fewer U.S. homebuyers are interested in foreclosed properties than they were a year ago, according to a survey conducted for Trulia.com and RealtyTrac. About 45 percent of U.S. adults age 18 say they are at least somewhat likely to consider purchasing a foreclosed home, down from 55 percent of people surveyed in May 2009. Most home owners – 98 percent – expect to pay less for a foreclosure, but 36 percent expect a discount of 50 percent or more. Only 18 percent say they would be satisfied with a discount of less than 25 percent. Some 92 percent of potential buyers were realistic about the likelihood that a foreclosed property will need improvements, but 65 percent wanted to spend less than 20 percent of the purchase price on fixing the place up. Among ... 05/23/2010

Homes sales for the month of March, 2010 jumped noticeably from numbers for 2009.  April is expected to be even better. Playing a key role in this upturn is the Home Buyers Federal Tax Credit of $8000 for first time buyers and $6500 for Sellers who have lived in their homes for at least five years. Other factors that influence the upswing is the current low interest rates, hovering around 5%.  Also, Spring always signals increased interest in home buying. Inventory of homes remains relatively high, at 8.59 months, based on the past month's sales activity.  A year ago, it stood at 9.91 months, so a gradual improvement is taking place.  The National Association of Realtors (NAR) says that 6 months of inventory is a balanced market. The Housing Affordability Index indicates that more peopl... 05/23/2010

The Federal Tax Stimulus drove sales in April, 2010, pushing Buyers to purchase by April 30 and demanding that Sellers price their homes to sell.  Traffic exceeded the usual expectations of Realtors for the April time frame.  Additionally, prices improved in the lower price ranges.                     In fact, traffic was skewed to the lower end of the market.  First time buyers represented the majority of demand.  Homes listed for over $300,000 continue to be more difficult to sell than in the recent past. Currently, in the Mt. Adams market, Mt Adams has 35 active listings and 7 pending sales.  There were no closings in April. 05/23/2010

The Federal Tax Stimulus drove sales in April, 2010, pushing Buyers to purchase by April 30 and demanding that Sellers price their homes to sell.  Traffic exceeded the usual expectations of Realtors for the April time frame.  Additionally, prices improved in the lower price ranges.                         In fact, traffic was skewed to the lower end of the market.  First time buyers represented the majority of demand.  Homes listed for over $300,000 continue to be more difficult to sell than in the recent past. There are currently 452 active listings in Anderson Township and Newtown.  There are 113 pending sales and 44 homes closed in April.  05/23/2010

The Federal Tax Stimulus drove sales in April, 2010, pushing Buyers to purchase by April 30 and demanding that Sellers price their homes to sell.  Traffic exceeded the usual expectations of Realtors for the April time frame.  Additionally, prices improved in the lower price ranges.                       In fact, traffic was skewed to the lower end of the market.  First time buyers represented the majority of demand.  Homes listed for over $300,000 continue to be more difficult to sell than in the recent past. There are currently 291 active listings in these neighborhoods in the Sycamore School distirct.  There are 83 pending sales and 59 homes closed in April.  05/23/2010

The Federal Tax Stimulus drove sales in April, 2010, pushing Buyers to purchase by April 30 and demanding that Sellers price their homes to sell.  Traffic exceeded the usual expectations of Realtors for the April time frame.  Additionally, prices improved in the lower price ranges.                       In fact, traffic was skewed to the lower end of the market.  First time buyers represented the majority of demand.  Homes listed for over $300,000 continue to be more difficult to sell than in the recent past. There are currently 406 active listings in Hyde Park, Mt. Lookout, Oakley, and Columbia Tusculum.  There are 114 pending sales and 73 homes closed in April.  05/23/2010

We get that call... the one to come and list a home. We get there and obviously the homeowner has only been "thinking" about selling and not putting a plan into action based on the clutter and Christmas lights that are still up on the bushes. If it weren't so frustrating it could be a skit for Saturday Night Live. Sometimes you feel like you need to keep a straight face while asking how soon those lights will be off the bushes. Is someone playing a joke on their Realtor friend? No, no joke. So while thankfully most don't still have their Christmas lights up in May, there are a lot of sellers who think that buyers will just overlook their lack of packing, cleaning and preparing for the market. However when most showings are on line first, what sellers are missing are real showings becaus... 05/22/2010

Despite generally rising home prices, home equity continues to fall in many cites hardest hit by the unraveling of the real estate market. Equity continues to drop because of resetting mortgage rates, job losses, and high rates of foreclosure depressing home prices further. Using information from credit reporting service Equifax, Forbes magazine measured the percentage of home equity relative to a home's current value in the country's 200 largest metropolitan statistical areas. It determined that these are the 10 areas with the lowest average percentage of home equity: 1. Modesto, Calif. 2. Cape Coral-Fort Myers, Fla. 3. Phoenix-Mesa-Glendale, Ariz. 4. Las Vegas-Paradise, Nev. 5. Oxnard-Thousand Oaks-Ventura, Calif. 6. Stockton, Calif. 7. Merced, Calif. 8. Reno-Sparks, Nev. 9. Riversid... 05/13/2010

Real estate data sharing on multiple-listing services is about to get easier, with the Real Estate Standards Organization’s approval of real estate property standard names. The standard names were introduced by the MLS Cooperative Venture (referred to as COVE, for short) in March during RESO’s General Assembly conference. RESO oversees the NATIONAL ASSOCIATION OF REALTORS®-supported Real Estate Transaction Standard, which defined an approach for exchanging listings with multiple listing services. “NAR applauds COVE for its contributions that make data standards stronger,” says Mark Lesswing, NAR senior vice president and chief technology officer. “This new standardization will also help REALTORS® better serve their clients. Accurate, efficient data sharing is crucial to the real estate... 05/11/2010

Insurance is usually the last thing people worry about when they are buying a new home. According to the Insurance Information Institute, that's a mistake, because it will be an expense a buyer will have as long as they own the property. Here are some key issues that the institute urges every buyer to consider: • How far is the home from the fire department? A location close to the station usually means lower insurance costs. • What is the condition of the plumbing and electrical systems? Older and poorly maintained systems cost more to insure. • Does the property meet current building codes? Up-to-date properties are safer and also cheaper to insure. • What about wind damage? If insurance against windstorms is required, is private insurance available or will the buyer have to rely on ... 05/10/2010

  I Missed the $8,000 Housing Tax Credit so Should I Still Buy a Home? In recent days I have had a few phone calls from first time home buyers asking me if they should still buy a house even though they missed the $8,000 tax credit. In some cases they could not find the right house, or they did not hear that the credit was extended. Regardless of the reason they missed credit I tell the same thing; YES! There are a number of reasons that this is a good time to purchase a home. First is that over the long term Real Estate has been a solid long term investment. Over the years Cincinnati has seen relatively stable property value appreciation. Our property values did rise and fall with the rest of the country over the last 6 years, but we did not have the dramatic soar and crash like Miami,... 05/06/2010

  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... 05/06/2010