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West Chester Ohio Homes For Sale Under $200,000

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?

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.

Interest 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.

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:

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

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 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.

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.

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

Tips to Add Curb Appeal To Your Home

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 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.

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.

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.

Other articles you may be interested in:

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

The Value Of Being Pre-Approved

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:

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

Tips to Add Curb Appeal To Your Home

West Chester and Liberty Township Ohio Real Estate Market Report

July 23, 2014 by Eric Lowry Leave a Comment

West Chester and Liberty Township Ohio Real Estate Market Report

West Chester and Liberty Township Ohio Home Sales were down 4.14% in June when compared to the sales in West Chester and Liberty Township in June 2013. Home sales in West Chester and Liberty Township in June 2014 were the 2nd highest for June since 2006. A lack of available homes for sale in West Chester and Liberty Township may be holding back significant sales growth right now.

West Chester and Liberty Township Ohio Average Sale Prices were up 9.73% in June 2014 when compared to June of 2013. Average sale prices for West Chester and Liberty Township for year to date 2014 are up 8.94% compared to 2013. The trend with home prices continues to be positive, with slow and steady improvement.

Days On Market for West Chester and Liberty Township Homes that closed in June 2014 was 62 which is dramatically lower than June 2013. 62 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 June 2014 was 97.57% which was a large increase over June 2013’s 96.68% 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. The list to sale price ratio can be a pretty good indicator of a real estate markets overall strength.

The Inventory of Homes for Sale in West Chester and Liberty Township remains low with a current level of supply at just over 4.5 months worth compared to 2 months ago when the months supply was just about 5 months.

Other articles you may be interested in:

5 Easy Home Improvements To Increase Home Value

West Chester Ohio Homes for Sale

Find Your West Chester Home Value

Find Your Liberty Township Home Value