West Chester Ohio News: Mortgages Are On Sale!

by Leave a Comment

An eye catching headline to be sure, but also very much the truth.

Interest rates for home mortgages are at historic levels right now which is providing a terrific home buying opportunity!  How about this: In 1981 you would have paid 16.90% for a 30 year fixed rate loan.  Today, it’s 5.15%, now that is a sale! 😀

Check out the graph below depicting mortgage rates since 1981:

To give this a little meaning, let’s look at a $200,000 mortgage loan:

In 1981, at 16.90% the principle and and interest payment would have been $2835.12.  (Wow)

In 2009, at 5.10% the principle and interest payment would be $1085.90 (Now that is a sale)

So you say, “Well that’s great, but that was 1981”.  So let’s compare to just 6 months ago then:

August 2008 rates were 6.49% which is a principle and interest payment of $1262.82.

That is a savings of $176.92 per month or $2123.04 annual savings with today’s low rates.

It really is a great time to buy when you consider the low rates and the great inventory of homes.

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

West Chester & Liberty Township, OH Real Estate News

by Leave a Comment

♦Everyone it seems is interested in foreclosure and short sale properties.  Well how about this real estate deal:

The sale is planned for March 5th according to the Cincinnati Enquirer.  It should be noted that the shopping complex is continuing to operate business as usual.

♦Homearama 2009 has been delayed until September this year.  The show featuring the finest luxury homes in the area has normally been held in June each year.  Several weeks ago the Cincinnati Home Builders Association annouNced that the show had been delayed by the economy.  Read the full story regarding the Homearama 2009 here.

The price point of the homes built will be between $550,000 and $950,000.  Home builders that have committed to the show so far are: The Drees Company, Fischer Homes, John Henry Homes, Pendragon Homes and Summit Custom Homes.  More details on the luxury home show can be found in this article.

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

West Chester, OH Real Estate Update: January 2009

by

The last three months have been very turbulent for most everyone whether you are talking about the stock  market, the auto industry or real estate (or for that matter any number of areas).  Let’s take a look at how things have gone the last three months in West Chester, Ohio in real estate.

With regard to sales, in 2007 160 units were sold vs. 142 units in 2008.  This represents a decrease of 11.25%.  Looking forward to the first three months of 2009 a reasonable projection may be that we will continue to see declines in units sold when compared to last year, possibly resulting in levels of 55-75 units in each of the first three months of the year.

2007 Units 2008 Units + or –
160 142 -11.25%

The average sale price for the last three months of 2008 was down 3.40% compared to the same period in 2007.  As you can see in the table below, the average sale price in the last three months of 2008 was $204,783 compared to $211,999 in 2007.  For there to be a stabilization of home prices and then at some point a return of appreciation, we will need to see a smaller supply of homes available for sale.  In many of the price ranges there remains a significant oversupply.  We will take a look at the supply of homes for sale next.  Be sure to check back!

2007 Avg Sale Price 2008 Avg Sale Price + or –
 $211,999 $204,783 -3.40%

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

West Chester Ohio Real Estate: Christmas Walk Returns

by

The Olde West Chester Christmas Walk returns this year after a two year absence.  The event begins at 1:00pm on Saturday, November 15th and concludes with a parade starting at 7:00pm at the Union Elementary School lite up by 1500 luminaria and ends with the lighting of the community Christmas tree at the township hall.  The businesses along Cincinnati-Dayton Road will be hosting open houses.  There will be live entertainment, food, children’s activities and yes, Sant Claus.  For more information visit the West Chester Township website

Also this weekend the new Miami University learning center is hosting an open house.  This is their new facility at the Voice Of America Center on Cox Road here in West Chester.  Guests will be able to tour the 23,000 square foot facility, learn more about Miami courses and programs offered at the VOALC, and learn more about the area surrounding the Center including the former VOA Bethany Relay Station.

Your comments are always welcome!

New Businesses And Developments in West Chester And Liberty Township

by

There are so many new businesses and developments happening in our area at any one time that it is difficult to keep track of all of them. 

Here are links to a couple of them that caught my eye as being interesting and/or good additions to our area.  (It should be noted that there are many more than the couple noted here).

The first is a very interesting article in the Sunday Cincinnati Enquirer on the development of the Union Centre Blvd area.

Of course the article is very timely due to the opening of the Ikea store this week.

Also opening a new store this week in Liberty Township, Ohio is Play It Again Sports, again in the Enquirer:

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20080309/BIZ01/803090335/1076/BIZ

Your comments and questions are always welcome!

Election Day In West Chester & Liberty Township, Ohio

by

Tuesday, March 4th is of course election day in Ohio.   There is no way that you could not know this, from the yard signs to the phone calls to the television and radio ads and everything else. 

Just a reminder though, that you do need your photo id to be able to vote.  This is a relatively new requirement and unless you voted in November you may not be aware of it.

If you need further election information click here for the Butler County Board of Elections website.