What's my Cincinnati home worth? Archives

Buying a House in the Spring

March 27, 2017 by Eric Lowry

What you need to know about buying a house this Spring

Spring is house hunting season. The months of April, May, and June are generally the busiest in real estate, and account for around 40% of all home sales for the year. If your family is considering buying a house this spring, buying sooner rather than later could lead to significant savings. Here are four things you need to know about buying a house this spring.

Inventory is Low

Currently, housing inventory is extremely low. There is a 1.6 – 2.4 months inventory of homes for sale. A 6 month inventory level is considered a balanced market. Anything under 6 months worth of inventory is considered to be an undersupply, favoring home sellers as opposed to favoring home buyers. Basically, we are experiencing an extreme sellers’ market.

Home Prices Are Rising

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

Since home prices are on a steady rise and are expected to continue to increase, it no longer makes sense to wait to purchase a home.

In addition, the homes in our area are selling at 98.6% of list price on average. This means that homes are selling very close to list price. Many homes in popular price ranges are actually selling at or above list price. So if you really love the house and don’t want to lose out to other buyers, you must make a very strong offer. Trying to make a low ball offer in this market is not going to work out in your favor.

Homes Are Selling Fast

Not only is there a exceptionally low supply of houses for sale, but buyer demand is very high. You will have a lot of competition for just a few houses, which means the houses are selling very fast. Homes that are in good condition and are priced right, are selling in just days. Many are selling even within just hours! So be prepared to act fast and get an offer submitted if you love the house.

When a new listing comes on the market that interests you, it’s important that you contact your Realtor immediately so that you can go see the home as soon as possible. If you wait a few days to go see it, it likely will have already sold.

Mortgage Rates Are Projected to Rise

This month the average 30-year fixed rate conventional mortgage is at 4.25%. The average on a 15-year fixed rate is at 3.63%. The interest rate on an FHA loan currently sits at 4.34%. A VA loan interest rate right now is 4.0%.

While these are fantastic interest rates, it’s important to realize that they won’t last. In fact, experts at The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors project that interest rates will rise over the next four quarters by at least a half a percentage point. That increase may not seem like much, but it will significantly impact your monthly mortgage payment.

What You Need To Do

Get Competitive – You need to prepare yourself to be competitive in the housing market. That means you must be prepared to make a strong offer when you find the right house, and get it submitted quickly.

In addition to making a strong offer price, you must also be prepared to provide a pre-approval letter with your offer. A pre-approval letter strengthens your offer because it shows the seller that you have the financial capability to purchase the home. So it’s imperative you choose the right lender and get pre-approved before looking at homes.

Educate Yourself –

Get your copy of this Complete Home Buying Guide. No registration, no solicitation, you just call us when you’re ready.

Schedule a Personal Home Buying Consultation. If you’re ready to discuss your real estate goals, learn about the market, and meet with a local expert to help guide you through the process, call or text us at 513-368-3751

Start Your Search – View full details and photos of all available homes for sale. Our Homes For Sale information is a direct feed from the Multiple Listing Service (MLS) and is updated several times a day so you will never miss a new listing!

Questions about buying a house in the Spring market?
Contact The Lowry Team today!
Call or text 513-368-3751

Curb Appeal Can Get You More Money When Selling Your Home

March 2, 2017 by Eric Lowry

Quick and Easy Ways to Increase Your Home’s Curb Appeal

If you’ve decided to sell your home and would like to do so quickly, you will have to come up with ways to set your home apart from the competition. Curb appeal is a great way to do so. Your home’s curb appeal provides the first impression to potential buyers, so you definitely want to make it a good one! Here are some quick and easy ways that you can make your home look attractive to new buyers and hopefully lead to a quick sale.

Freshen Up the Paint – Touch up the trim, shutters, garage door, and front door paint.

Power Wash – If your siding is looking dirty, consider giving it a good power washing to brighten it up. Don’t forget to power wash the driveway, and front porch steps.

Wash the Windows – Homes that are brighter inside sell faster, and clean windows definitely look better from the street.

Clean Up the Landscaping – Make sure you are keeping your yard trimmed and edged, and trim the bushes and trees. If it’s fall, make sure the leaves are being raked frequently.

Add a Pop of Color – Plant some brightly colored flowers in the flowerbeds.

Upgrade Your Mailbox – If your mailbox is looking shabby, consider buying a new one. You can even plant some flowers around your mailbox to add a pop of color.

Replace Exterior Light Fixtures – Get rid of any outdated or shabby light fixtures. Replace them with new lights that compliment the style of your home.

Update Door Hardware – If your home still has the original brass door knob and lock, consider upgrading.

Add New House Numbers – If your house numbers aren’t easy to see or if they’re dirty and dingy, replacing them can make a tremendous impact.

Questions about selling your home? Call or text Eric Lowry at 513-368-3751

Selling a House in Cincinnati – 6 Steps to Selling Your Home

February 2, 2016 by Eric Lowry

513-368-3751 to Connect with a Top Real Estate Agent in Cincinnati

Home Values	Hassle Free Listing	Contact Us
West Chester	Liberty Township	Mason
Monroe	Fairfield Township	Fairfield

Whether you are thinking of selling your home next month or next year, if you want to get the best price for your home with the least amount of stress, it’s going to take some time and planning. Here are the six steps to keep in mind when selling a house in Cincinnati…

Step 1: Hire a real estate professional from The Lowry Team. Eric Lowry, CEO and Listing Specialist for The Lowry Team, will discuss your ideal time frame for selling your home, pricing strategies, tips to prepare for the market, as well as the net profit needed from the sale. Hiring an experienced real estate agent will help protect you and your best interests, and your potential equity in the sale of your home.

Step 2: Price it right. Eric Lowry will share your home’s cur rent market value with you. A Comparable Sales Analysis Comparable (CMA) will be run on your home, which takes into account recent sales of similar homes in the same market area. This detailed CMA, in addition to the current trends in the real estate market and years of experience, will help Eric determine the right listing price for your home.

Step 3: Stage the home to sell. Homes that are staged sell faster and for money than homes that are not. Keep in mind there is only one chance to make a good first impression on potential buyers. The Lowry Team can advise you on what improvements should or should not be made prior to listing your home. We can also refer you to a professional home staging company.

Step 4: Negotiate an offer. Your Realtor will help you negotiate the best sale price and terms for your home. This includes items such as price, occupancy, inspections, etc. Eric Lowry has over 16 years experience negotiating home sales in the Cincinnati area, and his listings sell for around 1% more than the market average – that could mean thousands of dollars more in your pocket. Make sure you hire an expert negotiator to represent you.

Step 5: Plan your move. The Lowry Team has an preferred vendor list to help you plan your move, and can refer you to an excellent moving company.

Step 6: Meet at the closing table. The sellers, buyers and their agents will meet with the title company representative to sign all of the papers and close on the house. Here you will receive the proceeds from the sale of your house, and can celebrate!

Questions about selling your house? Call or text Eric Lowry at 513-368-3751.
Don’t forget to ask about The Lowry Team’s Sale Guarantee…
We’ll sell your home in 88 days, or we’ll sell it for FREE!

Read Selling a House in Cincinnati Part 2 here

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 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 by calling or texting 513-368-3751.

Other articles you may be interested in:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

Where are interest rates headed?

Why Use a Real Estate Team Instead of a Single Agent

Sell Your House Faster – Stage It With Color!

Selling a Home in the Winter

Preparing Your Home for Sale: 10 Tips for Staging a Home

Can my real estate agent represent me on new construction?

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