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West Chester, Ohio Real Estate News: Going Green May Help Sell Your Home

July 11, 2009 by Eric Lowry Leave a Comment

 

Going Green May Help Sell Your Home

It’s becoming the buzz word in housing — “green” homes are what many buyers are interested in these days. According to the National Association of Home Builders (NAHB), as much as 90 percent of home buyers think that energy efficiency is a very important factor when shopping for a home. These same buyers are also very interested in environment-friendly features including having housing close to parks, public transportation, and well-designed neighborhoods with sidewalks.

The National Association of Home Builders Remodelers (NAHBR) — a council of NAHB — says that most homeowners choose green remodeling projects to help conserve energy. NAHBR recommends the following top ways to increase energy efficiency.

  • Install appropriate insulation in area to be remodeled.
  • Install high-efficiency windows instead of those that minimally meet the energy code.
  • Seal all exterior penetrations in areas being remodeled.
  • Purchase only Energy Star®-rated appliances.
  • Install only low-flow water fixtures.
  • Upgrade to at least an Energy Star®-rated water heater, or better yet, a tankless water heater.
  • Purchase the highest efficiency HVAC system you can afford and make sure it is correctly sized for the area you want to condition. But going green can seem like a huge challenge…

Wondering about the value of your home in today’s market?  Request a Free Market Analysis.

 Moving to West Chester or Liberty Township, Ohio?  

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

   

Filed Under: Liberty Twp Community Info, Real Estate Information, West Chester Community Info Tagged With: Beckett Ridge Homes For Sale, Cincinnati, Eric Lowry, Green Homes, Homes For Sale, Liberty Township Real Estate, LowryTeam.com, Ohio, Real Estate News, Sibcy Cline Realtors, West Chester Ohio Real Estate

West Chester, Ohio Real Estate News: Tax Credit Extensions?

July 10, 2009 by Eric Lowry Leave a Comment

 

Campaign To Extend and Expand Housing Tax Credit

A campaign to extend and expand the housing tax credit officially got underway on Capitol Hill last month.

Bills have now been introduced in both the Senate and the House to open up the credit, to all buyers, keep it on the books through next year, and get rid of the current income limitations.

On the House side, two Texas congressional representatives – one a Democrat, the other a Republican – have filed bills calling for a broadening of the first-time buyer credit to cover all home purchasers in the coming year, whether they already own houses or not.

Democratic Congresswoman Eddie Bernice Johnson of Dallas wants to extend the November 30 expiration date for the credit through the end of 2010. Her bill would also remove the income limits of the current program, which start phasing down the amount of the credit at $75,000 for singles and $150,000 for married couples.

Johnson’s Republican colleague from the Dallas-Ft. Worth area, Kenny Marchant, also introduced a bill that would open up the credit to all buyers, without income limits, but only through June of next year.

But Congressman Marchant’s bill adds a whole new element to the mix – a $3,000 tax credit for people who refinance their home loans. Why? Marchant says the idea is to encourage more people to “take advantage of (today’s) low mortgage rates,” or to use the money to build equity in their homes “if they’re a little underwater.”

In the Senate, Georgia Republican Johnny Isakson introduced a bill last week that would nearly double the maximum credit to $15,000, open to anyone who buys a house, regardless of income.

Wondering about the value of your home in today’s market?  Request a Free Market Analysis.

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

Filed Under: Financing, Real Estate Information Tagged With: Beckett Ridge Realtor, Cincinnati, Eric Lowry, Homes For Sale, Housing Market, Liberty Township Real Estate, Ohio, Real Estate News, Sibcy Cline Realtors, Tax credits, West Chester Real Estate

Fairfield Township, Ohio Real Estate: New Listing In Meadows Of Indian Springs

June 4, 2009 by Eric Lowry Leave a Comment

Fairfield Township, Ohio Real Estate: New Listing In Meadows Of Indian Springs

 

8722 Blackfoot Court, Fairfield Township, Ohio 45011

Fairfield Township, Ohio 45069

Fairfield Schools

$237,500  – Four Bedrooms – Two Full Baths, One Half Bath

This is a terrific two story home in Fairfield Township, Ohio:

  • First Floor Master!
  • Large Wooded Cul-de-Sac Lot
  • Cathedral Family Room w/ Gas Fireplace 
  • Island Kitchen w/ Pantry, Planning Desk & Breakfast Nook 
  • Open Two Story Foyer
  • Formal Dining Room
  • First Floor Laundry
  • Three Car Garage
  • Large Deck – Great For Entertaining

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

Filed Under: Fairfield Township Homes For Sale, New Listings Tagged With: Cincinnati, Eric Lowry, Fairfield Township, Homes For Sale, Liberty Township Ohio Homes For Sale, New Listing, Ohio, Realtor, Sibcy Cline Realtors, Top Selling Realtor, West Chester Ohio Real Estate

West Chester Ohio Real Estate: Why Some Homes Are Selling

June 2, 2009 by Eric Lowry Leave a Comment

West Chester Ohio Real Estate: Why are some West Chester, Liberty Township & Beckett Ridge, Ohio homes selling and others are not?

Some quick observations regarding why some homes are selling and others are not.  I have been out showing a large number of homes in the past two weeks to a number of different clients and here are a few quick thoughts on this matter:

1.) Get It Priced Right! – No surprise here, but it really stands out when a home is priced too high compared to the competition.  The buyers see it quickly and they don’t spend much time looking at the house, they just move on.

2.) Clean your home inside and out! – yes, this seems pretty obvious, but after all of my recent showings it is clear to me that it is not obvious to everyone.

3.) Leave your home for showings! – Do not stay in your home for showings – we’ll figure out that you have freshly painted walls or double ovens, etc.  The buyers want to look at your home privately, don’t stay around and make them uncomfortable!

There is more, but I said “quick observations”.

Wondering about the value of your home in today’s market?  Request a Free Market Analysis.

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

 

Filed Under: Beckett Ridge Homes For Sale, Liberty Township Ohio Homes For Sale, Real Estate Information, West Chester Ohio Homes For Sale Tagged With: Beckett Ridge, Cincinnati, Eric Lowry, Homes For Sale, Liberty Township Real Estate, LowryTeam.com, Ohio, Preparing Your Home For The Market, Sibcy Cline Realtors, West Chester Real Estate

West Chester & Liberty Township, OH Real Estate Market Update

May 14, 2009 by Eric Lowry Leave a Comment

West Chester & Liberty Township, OH Real Estate Market Update

1st Quarter 2009 home sales compared to 1st Quarter 2008 for West Chester and Liberty Township, Ohio

In the 1st quarter of 2008 244 units were sold vs. 195 units in February 2009.  This represents a decrease of 20.08%.  This continues the trend of a large drop in closed sales when compared to the year ago period.  Unit sales continue to be soft, with the overall economy and job security issues having a big impact on potential buyers.  The 1st time homebuyers tax credit is influencing the activity in the under $225,000 market in a positive way.

2008 Units 2009 Units + or –
244 195 -20.08%

(Just as a point of reference for how far home sales have fallen: In March of 2006 alone we closed 170 units vs. 195 units for the first three months of this year.)

The average sale price for the first quarter of 2009 was down 8.32% compared to the same period in 2008.  As you can see in the table below, the average sale price in the first quarter of 2008 was $226,635 compared to $207,772in 2009.  As I have said before, 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 and also a lessening of the pricing presuure that is currently being applied by distressed property sales, such as bank owned homes and short sales.  In many of the price ranges there remains a significant oversupply of homes for sale.

However, there are dramatic differences in what is going on in the different price ranges.  If you are thinking of selling your home you must understand the market within the market that your home is in.  Some of the price ranges have such an oversupply of homes for sale and others are much more in line with what might be normally expected.

2008 Avg Sale Price 2009 Avg Sale Price + or –
 $226,635 $207,772 -8.32%

Here is the article from the Cincinnati Enquirer detailing the Greater Cincinnati housing numbers:

Q1 home prices down 17 percent

By Lisa Bernard-Kuhn • lbernard@enquirer.com • May 12, 2009

Sale prices of single family homes in the region slid more than 17 percent in the first quarter – fueled by the sale of foreclosed properties and other discounted real estate, according to a national report released today.

In Greater Cincinnati and Northern Kentucky, the median sale price fell to $106,500, a 17.1 percent decline from the first quarter in 2008, according to data from the National Association of Realtors.

The median sale price is the point at which half the homes sell for more and half sell for less.

Nationally, the median sale price for a single family home slid to $169,000, down 13.8 percent from the first quarter of 2008.

Overall, sales dipped 3.2 percent from the year-ago period.

“I think we’re near a bottom, but we’re not there yet,” said David Resler, chief economist at Nomura Securities.

While prices could hit bottom as soon as this summer, he said, they are likely to remain stable and start edging higher slowly. But the nascent signs of recovery in the housing market could be short-lived if employers continue to lay off workers in bulk.

First-time buyers accounted for half of all purchases during the first quarter, and 134 out of 152 metropolitan statistical areas reported lower median existing single-family home prices compared to the first quarter of 2008.

The biggest drop, of more than 50 percent, was in Fort Myers, Fla. Prices fell 40 percent or more in Saginaw, Mich.; Akron, Ohio; San Francisco; San Jose, Calif.; Phoenix; Sarasota, Fla. and Riverside, Calif.

The biggest price gain, of more than 21 percent, was in Cumberland, Md. The only other metro area that saw a double-digit increase was in Davenport, Iowa, which saw the median price climb nearly 14 percent.

“We are very much in a bifurcated market with sharp differences between foreclosures and short sales on one hand, and traditional homes on the other,” said Lawrence Yun, chief economist for the national Realtors, in a release. “In many cases, homes are selling below replacement construction costs, which speaks to the great values in the current market.”

In the first quarter, short sales and foreclosures accounted for nearly half of transactions, weighing down median home prices in most markets.

Short sales occur when a bank or lender agrees to accept less that what is owed on a home mortgage. The discounted properties along with foreclosures sell for about 15 to 20 percent less than market rate homes, Realtors say.

Yun said the $8,000 tax credit for first-time buyers included in the economic stimulus package signed by President Barack Obama earlier this year should boost sales.

“We expect a measurable increase in home sales during the second half of the year, which would help stabilize prices in most areas,” he said.

The Associated Press contributed.

Wondering about the value of your home in today’s market?  Request a Free Market Analysis.

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

Filed Under: Real Estate Information, Real Estate Market Statistics Tagged With: Beckett Ridge, Cincinnati Enquirer, Eric Lowry, Home Prices, Homes For Sale, Housing Market, Housing Statistics, Liberty Township Real Estate, LowryTeam.com, Ohio, Sibcy Cline Realtors, West Chester Ohio Real Estate

West Chester & Liberty Township Ohio Real Estate: New Listing In Welbourne Manor

May 9, 2009 by Eric Lowry Leave a Comment

My Newest Listing…

 

5654 Somerset Drive, Liberty Township, Ohio 45011

Liberty Township, Ohio 45011

Lakota Schools

$309,900  – Four Bedrooms – Three Full Baths, One Half Bath

This is a terrific two story home in Liberty Township, Ohio:

  • Custom Built Home!
  • Warm, Inviting Cathedral Family Room
  • Beautiful Gourmet Kitchen w/ Cherry Cabinets & Granite Counters
  • 1st Floor Study w/ French Doors
  • Formal Living & Dining Rooms 
  • Master Bedroom w/ Luxury Bath & Two W/I Closets
  • Terrific Finished Lower Level w/ Wet Bar & Full Bath
  • Professional Landscaping 
  • Very Nice Fenced Rear Yard
  • Three Car Garage
  • Welbourne Manor Subdivision 
  • Pool & Tennis Community
  • Close To Schools, Shopping, Dining & Expressways!

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

Filed Under: Liberty Township Ohio Homes For Sale, New Listings, Real Estate Information Tagged With: Cincinnati, Eric Lowry, Homes For Sale, Liberty Township Homes For Sale, Liberty Township Real Estate, LowryTeam.com, New Listing, Ohio, Pool Community, Tennis Courts, Top Real Estate Agent, Welbourne Manor, West Chester Real Estate

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