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LowryTeam.com Real Estate Trends Report – December 2011 Home Sales West Chester & Liberty Twp. OH

December 7, 2011 by Eric Lowry Leave a Comment

LowryTeam.com Real Estate Trends Report – December 2011 Home Sales West Chester & Liberty Twp. OH

Here is the newest edition of our LowryTeam.com Monthly Real Estate Trends Report. This report, published monthly, provides a look back at the last six months worth of real estate data for West Chester, Beckett Ridgeand Liberty Township, Ohio. It is a local trends report and makes no attempt to draw overall conclusions or make predictions for the larger real estate market. In fact we believe that anyone that makes an attempt to predict future, national real estate market conditions or draws conclusions on recent historical data nationally is just out of touch with reality. There is no such thing as a national weather forecast and there is no such thing as a real estate one either. ALL real estate is local!

The source of our data is the Greater Cincinnati Multiple Listing Service. By seeking out and understanding the trends in our market place we are better able to forecast the upcoming market conditions and counsel our clients on pricing strategies to get their home sold for the highest possible price. Any thoughts and insight into what may occur in the future are solely our opinions and forecasts.

This month we are breaking the data down into several different blog posts. This first article will cover home sales for the last six months (June – November):

A close look at the home sales for West Chester & Liberty Township Ohio:

As we move into December and look back at this most recent six months of data, the trend that we are watching right now is to see if the increase in home sales can be sustained as we move into the new year. The 4th quarter sales last year (2010) were extremely weak, so our comparisons of the home sales figures continue to show improvement when compared to 2010. Sales in June thru November of 2011 have shown a significant, 26.43% increase over the home sales numbers for June thru November of 2010. While sales have shown a pretty nice uptick in this time frame. It must be kept in perspective however. This period in 2010 showed some of the very worst of the monthly home sales figures for our area. This was the period of time immediately after the home buyer tax credit ended and sales really dropped off as you can see in the graph.

November home sales for West Chester and Liberty Twp Ohio were up 53.33% when compared to the month of November 2010. While this is a pace of increase that is not likely to be sustained, the next three months will really be telling in what direction home sales are headed in our area. The graph below shows the November home sales levels for West Chester & Liberty Twp for the last number of years to get some historical perspective to the figures.

Summary:

As we have stated previously in the LowryTeam.com: West Chester, Beckett Ridge and Liberty Township real estate market update, our market remains challenging, yet full of opportunity. Clearly the value of homes in West Chester, Beckett Ridge & Liberty Twp has fallen over the past couple of years and frankly, the values may still fall farther. The primary threats or obstacles to the recovery of real estate market are continued high unemployment, a continued oversupply of homes for sale and the potential loss of the mortgage interest tax deduction. Interest rates have settled back down and are at historical low levels around 4.25% which provide a great environment for buying a new home.

Wondering what the value of your home currently is? We would be happy to provide you with a detailed market value analysis of the value of your home. You can request your Market Value Analysis here

Other related posts you may be interested in:

This Month In Real Estate For West Chester, Liberty Township & Mason Ohio

Top 10 Tips When Selling a Home In West Chester, Liberty Twp Or Mason Ohio

Your comments and questions are always welcome!

What’s The Best Mortgage When Buying A Home?

December 6, 2011 by Eric Lowry Leave a Comment

What’s The Best Mortgage When Buying A Home?

Are you planning to buy a home in West Chester, Liberty Township, Beckett Ridge or Mason Ohio in the near future? If so, then you will likely need to get a mortgage. There are a number of options available in the home mortgage market today and some of these options may be better for you than others. The following is a brief summary of many of the options for home loans in the West Chester, Liberty Twp,. Mason and Cincinnati Ohio areas:

30 Year Fixed Rate Mortgage: This one is the “old stand by”. The rate is currently very low (approx. 4.25%) right now, although it is higher than some of the other options. The best part of this mortgage loan is that the interest rate doesn’t change for the life of the loan.

15 Year Fixed Rate Mortgage: Same basic premise as the 30 year fixed rate mortgage loan except the payback is calculated on 15 years so the interest rate is lower (around 3.50% today). This mortgage loan is great for building equity quickly, but does come with a higher monthly payment.

Adjustable Rate Mortages: These mortgage loans are mostly based on a 30 year re-payment schedule, but the interest rate may be fixed for just the first 3 or 5 years of the loan and then adjust from there based on market conditions. These mortgage loans will get you the lowest possible rates (2.45% – 2.65% today) and will work especially well if you only plan to be in your home for 3-5 years.

FHA Loans: An FHA mortgage loan is a loan that is made by a bank or mortgage lender that is insured by the Federal Housing Authority (FHA) . This insurance of the loan provides for lower down payments, lower closing costs as well as less restrictive qualification criteria. FHA home loans are very commonly used by first time homebuyers. In the last couple of years many other homebuyers have also turned to the FHA home mortgage loan as a very good option.

Special note: The FHA Loan Limits were recently increased back up to the previous levels prior to the FHA changes made on October 1st, 2011. Congress raised the FHA loan limits in a bill passed on November 17, 2011. The current FHA Loan Limit in Butler County Ohio is $337,500.

VA Loans: A VA Loan is a loan that is made by a bank or mortgage lender that is insured by the U.S. Department of Veterans Affairs (VA). This insurance of the loan by the VA provides for loans with no down payments, provided the homebuyer is eligible for the VA Loan program.

Moving To West Chester Or Mason Ohio – School And Community Info

November 18, 2011 by Eric Lowry Leave a Comment

Moving To West Chester Or Mason Ohio – School And Community Info

Are you moving to West Chester, Mason, Liberty Township or frankly anywhere in the Cincinnati area? Become a Market Insider to get information on the real estate market in the area your interested in. Find great information on the many different communities and school systems. You can even compare different areas to find the best fit for you!!

Request one of our relocation packets of information to learn more about our area! We will send it out to you right away.

Begin your search for homes for sale on our site here. You can search thousands of homes for sale in West Chester, Liberty Township, Mason and Greater Cincinnati!

This Month In Real Estate For West Chester, Liberty Township & Mason Ohio

November 17, 2011 by Eric Lowry Leave a Comment

This Month In Real Estate For West Chester, Liberty Township & Mason Ohio – November 2011

This month in real estate for November 2011 covers home sales and mortgage interest rates, which are holding steady in the 4.00 – 4.25% range.

Also discussed this month are 1st time homebuyers and what the Keller Williams Realty research says about the type of home that 1st time homebuyers are buying. Over half of all first time home buyers stay in the same area where they were renting. More than 75% of them purchased a single family home that was at least a 3 bedroom, 2 bath home.

>>Search homes for sale in West Chester Ohio right here<<

>>Search homes for sale in Liberty Township Ohio right here<<

>>Search homes for sale in Mason Ohio right here<<

For more information on buying a home, local real estate market conditions and interest rates, please use the contact form below and we will get back to you as quickly as we can.

Other articles that you may be interested in:

What Are Home Mortgage Interest Rates In West Chester & Mason Ohio?

LowryTeam.com Real Estate Trends Report – October 2011

Location For 2012 Cincinnati Homearama Announced

November 15, 2011 by Eric Lowry Leave a Comment

Location For 2012 Cincinnati Homearama Announced

The location for the 2012 Homearama home show in Cincinnati has been announced by the Home Builders Association of Greater Cincinnati . The home show will once again be held in one of Cincinnati’s Northern suburbs, albeit a Northeastern one. Willows Bend, developed by Hal Homes, and located in Miami Township in Clermont Co., has been selected as the site of Homearama 2012, the Home Builders Association of Greater Cincinnati said.

The home show will be held June 9 thru June 24, 2012, with the list price of these luxury homes expected to be between $550,000 and $1 million. A total of 15 lots will be available in the Willows Bend neighborhood. You can see homes in the $500,000 to $1 million price range for sale here

The Willows Bend community is located in Clermont County’s Loveland School District. Get information on the Loveland area and the Loveland School District here

The Homearama luxury home show was held in Foxborough subdivision in West Chester Ohio in 2011. You can view all of the homes listed for sale in Foxborough subdivision here

Other articles that you may be interest in:

Planning To Buy A Home Next Year

Luxury Homes For Sale In Mason Ohio

Have questions about this years homearama luxury home show? Use the contact form below and we will get back to you as quickly as we can.

Selling A Home In West Chester & Mason Ohio In The Winter

November 10, 2011 by Eric Lowry Leave a Comment

Selling A Home In West Chester & Mason Ohio In The Winter

Selling a home in the wintertime can provide some challenges. Follow these steps in getting your West Chester, Liberty Township or Mason Ohio home sold and success will follow.

Price Your Home Competively – Get a detailed, thorough home value analysis (cma) from a Realtor that specializes in your neighborhood or area to help you determine the correct list price.

Professionally Stage Your Home – Having your home professionally staged will give you the advantage you need in selling your home in the West Chester, Liberty Township or Mason Ohio real estate market.

Allow Your Home To Be Shown – Seems obvious right?? Well it isn’t always obvious to all homeowners who want to sell their home. You cannot handpick the times your home is shown. When buyers call to see your home the answer needs to be yes. Your home can’t sell if buyers can’t see it.

Clean – (verb – to make clean: to rid of dirt, impurities, or extraneous matter) Your home needs to be spotless. I don’t need to say much more here do I??

Leave The Lights On – It’s dark and dreary alot this time of year. Leave every light in your home turned on for showings. Don’t forget the front porch light so the Realtor can see to get the lockbox open.

Plan Ahead – It’s going to snow soon (or freezing rain or sleet, you get the idea). Make arrangements to have the snow and ice cleared off of your driveway and sidewalks. Also put a mat or rug inside your front door for Realtors and homebuyers to wipe off their shoes.

Thinking of selling your West Chester, Liberty Township or Mason Ohio home? Request a Market Value Analysis of your home here

Other articles that you may find interesting:

Preparing your home for sale – Part 1

7 Steps To Get Your Expired Listing Sold

For more information on selling a home in West Chester, Liberty Township, Mason Ohio fill in the form below and we will get back to you as quickly as we can!