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The Lowry Team Asks, “Can You Really Afford To Keep Renting?”

October 8, 2014 by Eric Lowry Leave a Comment

Can You Really Afford to Keep Renting?

Increasing Cost of Renting

With the rising cost of renting, many people are considering buying a home. However, some are worried about affordability. If you are paying rent, you can afford to buy a home.

Consider this example:

Buying A Home:

Mary’s $900 mortgage payment includes $700 of interest. Her total annual house payments are $10,800. At the end of the year, $8,400 of that is tax deductible ($700 x 12months). She is in the 28% tax bracket, so her savings are $2,352. Her actual housing cost for the year is $8,448.

Renting An Apartment:

Joe believes he can’t afford to buy. He pays $800 in rent each month which makes Joe’s housing costs for the year $9,600. He thinks he is saving money by renting, but he is actually spending $1,150 more than Mary, and he is not building any equity.

Mortgage ProjectionsInterest rates remain very low and have largely been very stable.  The current rate for a 30 year fixed rate loan is approximately 4.25% for a conventional loan and approximately 4.125% for an FHA loan. However, interest rates are expected to increase. The National Association of Realtors is projecting interest rates to rise to 5.4% by June 2015.

So the question you should ask yourself is:

Can You Really Afford to Keep Renting?

The Lowry Team has first time home buyer specialists that can help you through the entire home buying process. From pre-approval to closing, the experts on The Lowry Team can answer all of your questions and concerns and guide you to the benefits of home ownership.

The Lowry Team is an award winning, full service real estate firm specializing in  West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing, personal, professional real estate service.

The Lowry Team is “Different by Design”…taking a team approach to home buying  and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team, Keller Williams at 513-874-1830.

Ready to start searching for your first home?  Start your home search here: www.LowryTeam.com

Here are some quick searches to get you started:

West Chester Ohio Homes For Sale Under $200,000

Liberty Township Ohio Homes For Sale Under $200,000

Mason Ohio Homes For Sale Under $200,000

Monroe Ohio Homes For Sale Under $200,000

Fairfield Township Ohio Homes For Sale Under $200,000

Fairfield Ohio Homes For Sale Under $200,000

Other articles that may interest you:

West Chester and Liberty Township Ohio Real Estate Market Report

The Value Of Being Pre-Approved

No Regrets For 1st Time Home Buyers

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Filed Under: Buyers, Eric Lowry's Articles, First-time Homebuyer, Rent vs Buy Tagged With: "Can You Really Afford To Keep Renting?", 1st time home buyer specialists, 1st Time Home Buyers, Beckett Ridge Homes For Sale, Housing Market, Interest Rates, Keller Williams Realty, LowryTeam.com, rising costs of renting, the cost of renting, The Lowry Team, The Lowry Team Asks

West Chester and Liberty Township Ohio Real Estate Market Report

October 3, 2014 by Eric Lowry Leave a Comment

West Chester and Liberty Township Ohio Real Estate Market Report

West Chester and Liberty Township Home SalesWest Chester and Liberty Township Ohio Home Sales were flat when compared to the sales in West Chester and Liberty Township in August 2013.  The 167 closed home sales in West Chester and Liberty Township in August remains at the highest levels that we have seen since 2005. The ability for the sales levels to continue to increase is limited right now by a shortage of available homes for sale.

West Chester and Liberty Township Ohio Average Sale Prices were up 19.64% in August 2014 when compared to August of 2013. Average sale prices for West Chester and Liberty Township for year to date 2014 are now up 10.51% compared to 2013.  The trend with home prices continues to be positive.

FIND YOUR WEST CHESTER AND LIBERTY TOWNSHIP HOME VALUE HERE

Days On Market for West Chester and Liberty Township Homes that closed in August 2014 was 66 which is the same as both August 2013 and July 2014.  66 days on market is historically a very low number and continues to reflect the fact that nice homes priced correctly are selling very quickly.

List to Sale Price Ratio for homes sold in West Chester and Liberty Township Ohio in August 2014 was 97.15% which is just slightly lower than July 2014’s 97.43% These 97% plus ratios are very high and are also an indicator of both market strength overall and the continued shortage of homes for sale. Homes on the market less than 30 days sold for 98.32% of list price in August.  West Chester and Liberty Township List to Sale Price

The Inventory of Homes for Sale in West Chester and Liberty Township has been low for quite some time now and has even dropped slightly lower. The current level of supply is at 3.5 months worth of homes for sale compared to last month when the month’s supply was 3.8.  

Interest Rates in the West Chester and Liberty Township area remain very low and have largely been very stable.  The current rate for a 30 year fixed rate loan is approximately 4.25% for a conventional loan and approximately 4.125% for an FHA loan.

Other articles you may be interested in:

Tips to Add Curb Appeal To Your Home

5 Easy Home Improvements To Increase Home Value

West Chester Ohio Homes for Sale

West Chester Ohio Condos for Sale

Find Your West Chester Home Value

Liberty Township Ohio Homes For Sale

Liberty Township Ohio Condos For Sale

Find Your Liberty Township Home Value

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Filed Under: Buyers, Eric Lowry's Articles, LowryTeam.com Real Estate Market Trends Report, Market Update, Real Estate Market Reports, Real Estate Market Statistics, Sellers, This Month In Real Estate, West Chester OH Real Estate Market Reports Tagged With: Home Values, Housing Market, Interest Rates, Keller Williams Realty, Liberty township average sales prices, Liberty Township home sales, Liberty Township Ohio Homes For Sale, Liberty Township Real Estate, LowryTeam.com, Market Value Of My Home, Real Estate Market Reports, The Lowry Team, This Month In Real Estate, West Chester and Liberty Township home values, West Chester and Liberty Township Ohio Real Estate Market Report, West Chester home sales, West Chester Ohio average sale prices, West Chester Ohio Homes For Sale, West Chester Real Estate

West Chester and Liberty Township Ohio Real Estate Market Report

August 29, 2014 by Eric Lowry Leave a Comment

West Chester and Liberty Township Ohio Real Estate Market Report

West Chester Liberty Township July Home SalesWest Chester and Liberty Township Ohio Home Sales were up 2.96% in July when compared to the sales in West Chester and Liberty Township in July 2013.  Home sales in West Chester and Liberty Township in July 2014 were the highest for July since 2005.  A lack of available homes for sale in West Chester and Liberty Township have been and may still be holding back significant sales growth right now.  

West Chester and Liberty Township Ohio Average Sale Prices were up 6.43% in July 2014 when compared to July of 2013. Average sale prices for West Chester and Liberty Township for year to date 2014 are up 8.53% compared to 2013.  Now through 7 months of 2014 the trend with home prices continues to be positive, with slow and steady improvement.

FIND YOUR WEST CHESTER AND LIBERTY TOWNSHIP HOME VALUE HERE

 Days On Market for West Chester and Liberty Township Homes that closed in July 2014 was 64 which is dramatically lower than July 2013. 64 days on market is very low when compared to almost any time period in recent history.  As we have been saying for awhile, brand  new listings that are staged for sale and priced correctly continue to sell very quickly.

List to Sale Price Ratio for homes sold in West Chester and Liberty Township Ohio in July 2014 was 97.43% which was basically the same as July 2013’s 97.31%  The list to sale price ratio is simply the percent of the current (last) list price of a home that it actually sells and closes for.  We do believe that the list to sale price ratio can be a pretty good indicator of a real estate markets overall strength.  West Chester Liberty Township July List to Sale

The Inventory of Homes for Sale in West Chester and Liberty Township has been low for quite some time now and has even dropped lower. The current level of supply is at just over 3.8 months worth compared to last month when the months supply was just about 4.5 months.  

Interest Rates in the West Chester and Liberty Township area remain very low and have largely been very stable.  The current rate for a 30 year fixed rate loan is approximately 4.25% for a conventional loan and approximately 4.125% for an FHA loan.

Other articles you may be interested in:

Tips to Add Curb Appeal To Your Home

5 Easy Home Improvements To Increase Home Value

West Chester Ohio Homes for Sale

West Chester Ohio Condos for Sale

Find Your West Chester Home Value

Find Your Liberty Township Home Value

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

Filed Under: Buyers, Eric Lowry's Articles, Real Estate Market Reports, Sellers, West Chester OH Real Estate Market Reports Tagged With: Home Values, Homes For Sale, Housing Market, Interest Rates, Keller Williams Realty, Liberty Township, Liberty Township Ohio Homes For Sale, Liberty Township Real Estate, LowryTeam.com, Market Value Of My Home, Moving To West Chester, The Lowry Team, This Month In Real Estate, VIPHomeFinder.com, West Chester and Liberty Township Ohio Real Estate Market Report, West Chester Ohio Homes For Sale, West Chester Real Estate, West Chester Realtor

The Lowry Team Keller Williams :: This Month In Real Estate

August 28, 2014 by Eric Lowry Leave a Comment

The Lowry Team Keller Williams :: This Month In Real Estate

Welcome to This Month In Real Estate for August 2014.

Here are just a few of the national real estate numbers we’re tracking for you right now.

According to the National Association of Realtors, the number of projected home sales rose to 5.04 million. The national median home price for existing home mortgages increased to $223,300.  That’s up 5.3% from last month and up 4.3% from this same time last year.  If you are looking to sell, now might be a good time to enter the market.

Finally, according to Freddie Mac, the national average for a 30 year fixed rate home mortgage is down from last month to just over 4%

To find out how these numbers affect your home prices,

Contact The Lowry Team Today at 513-874-1830.

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team – Keller Williams at 513-874-1830.

Other articles you may be interested in:

The Value Of Being Pre-Approved

Buying A Home In The Current Housing Market

Homes for Sale in West Chester Ohio

Condos for Sale in West Chester Ohio

Foxborough Homes for Sale In West Chester Ohio

West Chester Ohio Home Values

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Filed Under: Buyers, Eric Lowry's Articles, Real Estate Market Reports, Real Estate Market Statistics, Sellers, This Month In Real Estate Tagged With: Home Prices, Home Sales, Home Values, Housing Market, Interest Rates, Keller Williams Realty, Market Value Of My Home, national association of realtors, The Lowry Team, The Lowry Team Keller Williams :: This Month In Real Estate, This Month In Real Estate

The Lowry Team Keller Williams :: Buying A Home In The Current Housing Market

August 14, 2014 by Eric Lowry Leave a Comment

The Lowry Team Keller Williams :: Buying A Home In The Current Housing Market

The Lowry TeamThe Lowry Team is seeing the local housing market in the West Chester and Liberty Township areas rising steadily. For homes that are in great condition, staged to sell and priced right, this is leading to multiple offers on the home.

Back before the decline in the housing market, buyers had the advantage when buying a home. There was a surplus of homes for sale so buyers had plenty of houses to choose from.  They could take their time house hunting, make a low ball offer and if it was not accepted move on to the next house that met their criteria.  

In the current housing market, inventory is low.  Sellers have the upper hand in negotiations.  

The Lowry Team has 5 tips that will help you win the house of your dreams.

1.  Get pre-approved for a loan.  The Lowry Team likes to work with Rapid Mortgage.  Justin Phillips, Branch Manager for Rapid Mortgage Company can begin the loan process for you. It is important to have a pre approval letter when making an offer.

2.  Have a consultation with your buyer’s agent before you start looking at houses.  Be clear on what you want and need in a home.  This will allow you to move fast.

3.  When writing an offer, make it strong and solid.  The Lowry Team has seen many houses sell at and above listing price in recent months.

4.  Do not ask for a lot of seller concessions.  Keep the offer as clean as possible.

5.  Work with one of the buyer’s agents on The Lowry Team.  Jessica Lowry, Lisa Tesmer and Darryl Smith will look out for your best interests.

Contact The Lowry Team of Keller Williams Realty Associate Partners today to get in touch with a buyer specialist.

The Lowry Team is an award winning, full service real estate firm specializing in  West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing, personal, professional real estate service.

The Lowry Team is “Different by Design”…taking a team approach to home buying  and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Buyers and sellers can reach The Lowry Team –

Keller Williams Realty at

513-874-1830.

Other Articles  You May Be Interested In:

Buying A Home In Today’s Market

Villages Of Providence Subdivision And Homes For Sale In West Chester

The 6 Most Essential Home Buyer Tips

Beckett Ridge Subdivision and Homes For Sale

First Time Home Buyer Neighborhoods

Search Homes and Condos For Sale

Find The Current Value of My Home

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Filed Under: Buyers, Eric Lowry's Articles, Financing Options, Liberty Township Ohio Homes For Sale, Market Update, Real Estate Market Reports, West Chester Ohio Homes For Sale Tagged With: Buying A Home, Cincinnati, First Time homebuyers, Home Buyer Specialist, home buyer tips, Homes For Sale, Housing Market, How to get pre-qualified, Keller Williams Realty, Liberty Township Ohio Homes For Sale, Liberty Township Real Estate, Moving To West Chester, Search Homes For Sale, The Lowry Team, The Lowry Team Keller Williams :: Buying A Home In The Current Housing Market, Top Real Estate Agent, VIPHomeFinder.com, West Chester, West Chester Real Estate, Why You Need Loan Pre-Approval

The Lowry Team Keller Williams Realty :: Ready To Move?

July 29, 2014 by Eric Lowry Leave a Comment

The Lowry Team Keller Williams Realty :: Ready To Move?

 

Life can lead us on many different paths and journeys.  If a move is in your future, rest assured, The Lowry Team will be there to guide you to your next home.  We will make sure that your current one sells for the best value possible.

FIND THE CURRENT MARKET VALUE OF YOUR HOME HERE

Contact The Lowry Team of Keller Williams Realty Associate Partners

TODAY for a free consultation!

The Lowry Team is an award winning, full service real estate firm specializing in  West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing, personal, professional real estate service.

The Lowry Team is “Different by Design”…taking a team approach to home buying  and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team. 

Buyers and Sellers can reach The Lowry Team – Keller Williams at 513-874-1830.

Other articles you may be interested in:

6 Steps To Selling Your Home – Part 1 of the series

Hire A Professional Real Estate Agent – Part 2 of the series

Pricing It Right – Part 3 of the series

Home Improvements That Are Worth The Investment

The Lowry Team – Helps Homeowners Sell Their Home After Just 3 Days On The Market

Tips To Make Your Porch Pop

Buying a Home

Find Your Home’s Current Market Value

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

Filed Under: Buyers, Eric Lowry's Articles, Preparing Your Home For Sale, Sellers Tagged With: Buying A Home, Eric Lowry, Eric's Hassle Free Listing, Homes For Sale, Housing Market, Keller Williams Realty, LowryTeam.com, market value of your home, Real Estate, Selling A Home, The Lowry Team, Top Real Estate Agent, VIPHomeFinder.com

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