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West Chester OH Real Estate Outlook 2009

February 5, 2009 by Eric Lowry Leave a Comment

 

Real Estate Outlook: What’s in Store for 2009?

What will the new year bring for housing and real estate? It’s easy to look at all the negative economic news in the headlines and say – there’s no sign that 2009 is going to be any better than 2008.

But here’s a different perspective to consider from one of the country’s veteran financial analysts — Richard Bove of Ladenburg Thalmann, an investment banking company.

In a research report issued late in December, Bove said he sees a positive dynamic taking shape in the current cycle. The government has intervened aggressively in the markets to push interest rates down — most notably in the home mortgage sector.

Though it takes awhile for low-cost money to begin having its effect, Bove said he expects “housing prices to stabilize and/or rise (in 2009) after a likely boom in mortgage refinancings as rates fall and loan applications increase.”

Add in the expected massive economic stimulus package being put together on Capitol Hill with the incoming Obama administration — and there’s a good chance we’re going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

Already there are positive signs of the turnaround Bove predicts…

Read the entire article in my monthly real estate newsletter for residents of West Chester, Liberty Township and Beckett Ridge.

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

If you think now is the time to begin your search for a new home, start by checking out my Feature homes for sale and then search the MLS, all on my website:  www.LowryTeam.com

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

Filed Under: Financing, Liberty Twp Community Info, Real Estate Information, Real Estate Market Statistics, West Chester Community Info Tagged With: Beckett Ridge, Cincinnati, Eric Lowry, Financing, Housing Market, Mortgages, Ohio, Real Estate Market Statistics, Search Homes For Sale, West Chester Housing Statistics, West Chester Real Estate, West Chester Realtor

West Chester Ohio News: Mortgages Are On Sale!

February 2, 2009 by Eric Lowry 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

Filed Under: Financing, Liberty Twp Community Info, Real Estate Information, West Chester Community Info Tagged With: Cincinnati, FHA Financing, Homes For Sale, Liberty Township, Liberty Twp Community Info, Mortgages, Ohio, West Chester Community Info, West Chester Realtor

West Chester, OH Real Estate Update: January 2009

January 7, 2009 by Eric Lowry

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

Filed Under: Real Estate Information, Real Estate Market Statistics, West Chester Community Info Tagged With: Cincinnati, Home Values, Homes For Sale, Housing Market, Housing Statistics, Ohio, Real Estate Market Statistics, West Chester Real Estate, West Chester Realtor

West Chester & Liberty Township, Oh Real Estate: Housing Stimulus Possibilities

January 4, 2009 by Eric Lowry

 

Fix Housing First Coalition Seeks To Revive Economy

The National Association of Home Builders (NAHB) is spearheading Fix Housing First, one of the largest coalitions of housing advocates ever assembled in the United States, to push for a housing recovery plan that will revive the economy.

  “If we are going to successfully pull our nation out of recession, we must address housing first,” said NAHB President and CEO Jerry Howard.  

Fix Housing First, which consists of more than 600 organizations, home building companies and manufacturers continues to add new members on a daily basis, is pressing for a major stimulus package to stem the decline in home values, stabilize financial markets and reignite consumer demand. To get the economy moving again, the coalition is urging Congress to support enhancements to the home buyer tax credit and provide below-market 30-year fixed-rate mortgages for home purchases… 

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

Filed Under: Financing, Real Estate Information Tagged With: Cincinnati, Homes For Sale, Housing Market, Liberty Township Real Estate, Mortgages, Ohio, Search Homes For Sale, Sibcy Cline Realtors, Top Realtor, West Chester Real Estate

West Chester, Oh Real Estate: Now Is The Time To Buy!

December 29, 2008 by Eric Lowry

Now Is The Time To Buy…

 

 

This home is a perfect home for the first time homebuyer with it’s many updates and terrific location in West Chester, Ohio.  With the historically low interest rates available today combined with the $7500. tax credit available to first time homebuyers right now IS THE TIME TO BUY!  Read my previous post on the first time homebuyer tax credit here.

8708 Willet Lane, West Chester, Ohio 45069

West Chester, Ohio 45069

Lakota Schools

$174,900  – Three Bedrooms – Two Full Baths, One Half Bath

This is a terrific, move in ready home in West Chester:

  • Full Of Upgrades
  • Warm, Inviting Family Room w/ Fireplace
  • Kitchen Features Corian Counters & Newer Appliances
  • Formal Living & Dining Rooms
  • Master Bedroom Features An Adjoining Full Bath
  • Finished Lower Level Rec Room
  • Patio Overlooks Large Rear Yard
  • New Furnace / AC In 2007
  • New Hot Water Heater In 2005
  • Newer Gilkey Windows
  • Close To Schools, Shopping, Dining & Expressways!

 

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

Filed Under: Financing, New Listings, Real Estate Information Tagged With: 1st time homebuyers, Cincinnati, FHA Financing, Mortgages, New Listing, Ohio, Realtor, West Chester Ohio Realtor, West Chester Real Estate

Liberty Township, Ohio Real Estate: New Listing 6636 Eagle Creek Drive

December 14, 2008 by Eric Lowry

My Newest Listing…

6636 Eagle Creek Drive, Liberty Township, Ohio 45011

Liberty Township, Ohio 45011

Lakota Schools

$289,900  – Four Bedrooms – Two Full Baths, One Half Bath

This is a beautiful, move in ready home in Liberty Township:

  • 2900+ Square Foot Custom Built Home
  • Two Story Foyer w/ Hardwood Floors
  • Two Story Great Room w/ Beautiful Stone Fireplace
  • Large Kitchen Features Island, Hardwood Floors, Breakfast Nook & Planning Desk
  • Formal Dining Room w/ Recessed Ceiling, Crown Molding & Chair Rail
  • First Floor Study w/ Oak Paneling & French Doors
  • Cathedral Master Suite Features A Sitting Room w/ Fireplace, Luxury Bath & Huge Walk-In Closet
  • Terrific Three Season Room Overlooks Rear Yard
  • Walkout Lower Level
  • Three Car Garage
  • One Year Home Warranty
  • Close To Schools, Shopping, Dining & Expressways!

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

Filed Under: New Listings, Real Estate Information Tagged With: Cincinnati, Custom Built Home, Homes For Sale, Liberty Township Real Estate, Mortgages, New Listing, Ohio, Relocation, Sibcy Cline Realtors, West Chester Ohio Real Estate, West Chester Ohio Realtor, West Chester Realtor

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