Monday, November 24, 2008

Window of Opportunity

There are those rare times when a number of factors come together and combine to make a unique opportunity. If you have ever thought about owning your home, the next few months are one of those times.

Here's Why:

  • Historically low interest rates
  • The most significant roll back in home prices in memory
  • Special local, state and federal programs to help first time buyers including grants, federal tax credits and more.
  • An actual discount on closing costs from 5/3 Bank. (Current offer may be extended beyond 12/31/2008)

If you have a regular job and good credit, you may be able to realize the dream of owning your own home!

If you are paying $750 to $1200 in rent, you can keep your net payment (after tax deduction) about the same and get a home in the $125K to $180K range!

To take advantage of this once in a lifetime opportunity - Call me today!

Friday, November 14, 2008

Market Statistics for North Easter Cincinnati

Looking at Hamilton County, Warren County and Clermont County sales for the 3rd quarter of 2008 comparatively to the 3rd quarter of 2007:

For the 3rd quarter:
there were 4750 units of residential sales, generating $838,100,176.00 in total revenue with a median sales price of $135,000.

Comparing this to the 3rd quarter of 2007:
with 5310 units of residential sales, generating $994,888,363.00 in revenue with a median sales price of $143,000.

This represents a comparative decline of approximately 6% in value to homes sold in the 3rd quarter of 2007. In looking at current sold units and comparing them to the same time frame in 2007, we see a 40% decline in sold properties. This indicates that November 2008, will not be as strong in units sold as October 2008, which came in with stronger than anticipated sales. Below is a brief excerpt for the National Association of Realtors report. You can find the report in entirety at:

- From the National Association of Realtors-

Pending home sales fell on the heels of a strong gain a month earlier as credit tightened and economic conditions deteriorated, according to the latest survey. The Pending Home Sales Index declined 4.6 percent to 89.2 from an upwardly revised reading of 93.5 in August, but is 1.6 percent higher than September 2007 when it stood at 87.8. Lawrence Yun, NAR chief economist, said pending sales have been above year-ago levels for two months in a row. “The month-to-month weakening in pending home sales is understandable, but because the index remains above year-ago levels it means we’re still in a broad period of stabilization,” he said. “Conditions remain mixed around the country, but markets that are showing annual sales gains include Long Island, N.Y.; Boston; Minneapolis; Denver and Washington, D.C., in addition to consistent solid gains in California and Florida.”