Living on Cincinnati's Eastside

Cincinnati Mortgage Rates Drop

11/25/2008 7:09:00 PM

Anyone looking to purchase or refinance real estate in the Cincinnati MLS area should contact their loan officer. Rates for mortgage loans dropped to the mid-5% area for 30-year fixed mortgages. Media outlets were touting this as the largest single day rate decline in history earlier this afternoon. The only thing that seems to be certain about this mortgage market is that it seems to bounce up and down day to day. Right now would be a great time to take advantage of rates under six percent.

Is Your Home Energy Efficient?

11/20/2008 7:23:00 AM

Cincinnati's Cooler temperatures and higher fuel costs have forced many people to look for better heating solutions. Heating and cooling systems are some of the most important investments you'll ever make in your home. These systems can account for 44% of your home's energy use. The more energy efficient an appliance is, the less it costs to run and the lower your utility bills. Home sellers with modern heating and cooling systems can command top dollar for these features, as buyers will factor the heat source into any offer.

Get Biggest Bang For Your Home Buying Buck!

11/20/2008 7:22:00 AM

Greater Cincinnati first-time buyers and bargain hunters everywhere are looking for ways to stretch their dollar. Here are three helpful tips for maximizing your purchasing power:

Save money with a fixer-upper! Although these homes take a little elbow grease, the money you save can be significant. Put that extra money in your savings account, re-invest it in your home, or upgrade your location!
Higher fuel costs have made remote properties less attractive for certain buyers. Don't be afraid to search a little farther out from your work if good public transportation is available.
Size matters. Bigger homes are typically more expensive, so why not buck the trend and look for something a little smaller? There is generally less demand for smaller homes, and you can spot some great deals if you are willing to act fast!

HomeSearchCincinnati.com is a FREE no hassle service to help Cincinnati area home buyers find their dream home. Your first email will list all homes currently for sale that meet your search criteria. Then each morning you will be emailed a list of all of the new homes for sale and price changes since your previous search. No more having to rely on manual searches. Visit http://www.HomeSearchCincinnati.com/ to fill out your search criteria and start your auto-email home search today! It's just that easy!

What Is The FHA EEM (Energy Efficient Mortgage)?

11/20/2008 7:16:00 AM

Q: What is an FHA Energy Efficient Mortgage (EEM)?

A: The EEM is an FHA Mortgage feature that allows for a borrower to acquire or refinance their home and add on the cost of Energy Improvefments with no additional qualification restrictions.

Q: Are there benefits for both borrowers and sellers?

A: Yes, to both. Buyer's can qualify for a larger loan on an improved home. Borrower's can recognize the monthly financial benefits as soon as the work is done. Seller's can marken an Energy Efficient Home, the buyer can qualify at a higher debt to income ratio. Borrower's or seller's can increase the potential resale value of their home.

Q: What are some of the improvements that can be incorporated into an EEM?

A: The borrower can add windows, doors, insulation and the list goes on. A HERS (Home Energy Rating System) analysis must be performed by a qualified home energy rater and they will make recommendations.

Q: Can the cost of Improvements be Escrowed?

A: Yes, the cost of the energy improvements can be escrowed for a period of no longer than 90 days. All energy improvements must be performed and completed within the 90 day window. Funds not used within the 90 day period must be applied against principal.

Call Jason Bowman at 513-766-0647 or email him at Jason@JJBowman.com to find out more information about this program.

Call 513-766-0647 for details on $100.00 down payment Cincinnati HUD Homes

11/2/2008 5:50:00 PM

Take Advantage of BIG Incentives NOW when you

purchase HUD Homes in Ohio

$100 Down Payments!

Purchase a HUD Home with FHA-insured financing for low down payments.

YES

You can own your

own home!

This special sales offer may not be combined with any other HUD discount sale,

including sales under the Good Neighbor Next Door program or sales to

non-profit organizations.

$2500 Sales Allowances!

The sales allowance is available to Owner-Occupants purchasing HUD homes with a sales price

equal to or greater than $25,000. Purchase can be FHA, conventional, or cash financed.

$2500 can be used for repairs, closing costs and mortgage principal reduction.

Elections are on November 4

10/28/2008 11:51:00 AM

Our forefathers fought for our rights and built a country that provides you with the right to elect those who serve us in government. Honor them and exercise your right to vote on November 4th. Use the following link to find your Polling Location in Ohio.

Good News for Veterans.

10/28/2008 11:50:00 AM

On September 11, the House of Representatives passed the Veterans Construction and Extension Act of 2008, which helps Veterans achieve their dreams of home ownership. The legislation provides assistance for veterans who need to refinance their Sub prime or adjustable rate loans into a safer, more affordable loan backed by the US Department of Veterans Affairs. The bill has been passed on to the Senate for finalization. If you're in the market for a home in the Cincinnati Area, contact me for information on FHA, VA, and other mortgage programs and mortgage lenders that might be right for you. I have a database of Lender's that offer many programs available to Cincinnati homebuyer's.

Greater Cincinnati Halloween-Trick Or Treat Times!

10/28/2008 11:49:00 AM

With only 3 days until Halloween, I found myself today wondering what time on Friday Trick Or Treating started. I came across the following website that not only lists the Trick Or Treat Times for Greater Cincinnati, but also Haunted Houses and activities available in our area. So whether you are staying in to greet the Ghost's and Goblin's or going out to enjoy the evening, you may find this website helpful.

Local Greater Cincinnati Trick Or Treat Times and Activities

Hope you all have a Safe and Happy Halloween.

Cincinnati Real Estate Buyers: Foreclosure Q&A

10/27/2008 6:21:00 PM

Get Educated on Lender-Owned Properties.

The general process of buying a Lender-Owned property is very different from a consumer-owner sale. Patience is necessary on the part of the selling agent, as well as the buyer. The following is a collection of frequently asked questions by buyer agents and their clients.

FAQ on purchasing a bank owned property.

How long after presenting an offer can we expect an answer?

A REO-seller’s working hours are typically 9-5 Mon-Fri. They don't work weekends or holidays. The normal turn around time for a response is 2 to 3 business days. There is generally an assumption that an offer is still valid despite expiration of response time unless the buyer agent informs the listing agent otherwise. If it takes longer to get a response, it is because the lender-seller is taking longer to respond; the listing agent will typically give an answer as soon as it is received. Continuing to call and ask if the listing agent has heard anything does not cause the lender to respond any faster or make the listing agent respond sooner. Many listing agents have specific instructions included in the MLS listing to advise cooperating agents of how the process will flow with the specific lender. Extra patience is needed for this process!

What can I do to put my client in the best position to purchase the foreclosed property?

Write a strong, clean purchase contract. Avoid unnecessary contingencies. Most important is to provide (at time of initial offer) a very strong pre-approval letter stating that credit has been verified and income has also been verified and all buyer funds have been verified. Earnest money will be required by all REO sellers. $1,000.00 is a good amount to use. To a seller, the strong pre-approval letter is very important. Many times foreclosed properties receive multiple offers. The offer with fewer, or no contingencies, as well as the financial strength of the buyer, often sways the seller’s decision as to whom to sell the property. Some REO sellers require that the buyer apply for financing with a particular lender prior to considering an offer.

How and where do we deliver an offer and do we write it on a standard contract?

Offers should be written as you would write any other offer, unless other instructions are provided in the MLS listing. Offers should be delivered as instructed in the MLS listing.

Will I receive a response to my offer?

You may not always receive a response to your offer. Some listing agents will include in their instructions that the lender will not respond to offers they have not selected to work with and that they will only contact the agent submitting the prevailing contract. If a lender does provide a response, it may be just an e mail stating that the offer was rejected. The listing agent should forward any response received to the buyer’s agent. In some cases it can take up to 10 days to receive a counter offer or rejection of the said offer. It is not the seller’s duty or the listing agent’s to discuss why the offer was rejected. Keep in mind that all seller’s behave differently as to how they will respond.

When will we receive the sellers addendum and all other signed documents.

Generally once the seller & buyer have agreed on contract terms, the sellers addendum will by generated by the seller. Once this is received, it will need to be signed by the buyer. The seller will sign the contract, sellers addendum, Agency Disclosure and any other documents necessary to complete the transaction. The seller will only sign the documents after the buyer has signed all documents.

How will negotiations be conducted?

After receiving the initial written offer, most negotiations will be done by email or verbal. It is understood that this is not the normal real estate process, but due to the volume of contracts generally negotiated by the listing agent and the time constraints of the lender-seller, it is the most efficient way to conduct business. No contract is considered accepted until you receive a written copy signed by all parties. It would not be advised to order inspections or appraisals until the buyer has written acceptance of the full purchase contract including all addendums. In some cases, the seller is not required to provide an Ohio Residential Property Disclosure Form for the property. The seller will sign a lead based disclosure form.

The seller will provide an Addendum that the buyer is required to sign. It is important for the buyer and the buyer’s agent to read every word in the seller’s addendum. Most seller addendums provide little protection for the buyer. The seller's addendum should disclose that they are a corporate seller and have not lived in the property and many other important terms for the purchase of the property. All seller addendums are worded differently. Ask questions and make sure you and your client fully understand what he is signing. Some conditions often found in seller addendums are: buyer is purchasing the property in “as is condition”, financial penalties imposed upon the buyer daily for delayed closing, deed restrictions for future sales or refinancing, etc. Some addendums also state that the seller has the right to sell to another party up until the closing occurs. Most REO lenders will not allow changes to the addendum. Some REO sellers may make it the buyers responsibility to pay for the re-keying of the locks for the property. Most will have language stating that if the seller can not provide a deed, the seller may declare the contract null & void and return the earnest money to the buyer. The buyer could be out certain expenses, such as appraisal fees, inspection fees, etc. and would not be reimbursed for these items.

Will I be notified In the case of multiple offers?

That is totally up to the seller. Some lenders have a policy of immediately stopping negotiations with the current buyer and disclosing multiple offers in writing or verbally and asking for best and final within 24 hours. Some handle that situation on a case by case basis and might accept any offer at any time regardless of order received. It is common for these types of properties to enter into multiple offers at some point.

Would it help to provide a list of repairs needed and photos?

This is absolutely a waste of time, The lender should already have photos and be aware of the condition of the property. However, taking photos may be a good practice for the buyer, so they have an accurate account of the property’s condition at the time they wrote the offer. This may also be helpful for comparison purposes, during the walk through prior to closing, to verify that the property is in the same condition as it was at the time of the offer.

Can the buyer have inspections?

The seller will not stop buyers from doing inspections, as long as it was included as part of the purchase agreement. Many times a seller will pick the purchase contract without inspections contingencies as the contract to negotiate with. Buyer must understand these properties are sold AS IS and should be prepared that these properties will have considerable deferred maintenance.

Will the utilities be on?

This varies with the different lenders we represent. If the property is winterized there may be a charge to the buyer to re-winterize the property. If the buyer expects utilities on, they should address that in their offer and the seller will respond accordingly. Utilities will be scheduled for FINAL READS and turned off for the date of closing. If the buyer wishes to have utilities switched to their name, they will need to contact the appropriate utility company to arrange prior to closing date. This is very important in the winter months to ensure the property is protected from pipes freezing.

Since the property is vacant, can the buyer have access to the property before closing?

The buyer can NEVER have access without their agent present before closing. If the buyers agent wants to gain access to the property, it should be scheduled through the listing agent.

Can a buyer do repairs themselves or pay to have them done before closing?

Buyers can rarely do the repairs themselves. In isolated cases, and with the written approval of the seller, they might be able to hire a contractor to do some work. If this would occur, prior to gaining permission, the contractor would need to provide proof of financial responsibility (insurance coverage) in an amount acceptable to the seller.

When does the buyer get possession of the property?

A high percentage of REO-owned closings will close in escrow due to the fact that there maybe an out of town corporate seller. Possession takes place at funding and disbursement. To be clear, that is when the title company determines that it has the funds and needed paper work from buyer and seller and the transaction is deemed closed. In most cases that takes place within 24-72 hours after closing. That is also the time that the commission checks will be sent to agents.

When does the buyer get the keys to the property?

Keys will not be given to the buyer until a fully executed and fully funded closing has occurred. If the seller does not attend the closing, keys will not be distributed at the buyers closing. Keys will be distributed upon written permission (e-mail) by the seller. Many REO sellers will not release keys until they receive proof that all documents are signed and the check to the seller has been sent by the closing agent via overnight courier.

Does the seller offer financing?

Some REO-sellers offer financing, however, most properties need to be financed by a third party.

Will they pay buyer's closing cost?

Some REO-sellers will consider paying closing costs and participate in down payment assistant programs, if the net to the seller makes sense. As a guide 3% is the maximum allowed by the seller, this may vary by seller.

Will they consider FHA offers and participate In down payment assistance programs? As is true of any seller they will consider FHA or VA offers only if the property qualifies and does not require the seller to repair the property. Some REO-sellers will not consider FHA or VA offers under any circumstances.

How motivated is the seller and what is the lowest price they will accept?

Make an offer. The listing agent cannot discuss the seller's level of motivation. As is true of all sellers, the list price is an asking price.

What is the mortgage on the property?

This amount has nothing to do with what the seller will accept for the property. By the time the property becomes bank owned the mortgage is wiped out and bears little affect on the outcome of the final sale.

Does it matter how much they paid at the sheriff sale?

The amount paid at the sheriff is only the amount that was paid for the lender to secure their interest in the property. Most of the time the lenders are owed a great deal more than the property sale amount of record. What the bank pays at the sheriff sale has little to do with what the property is worth. Just like any seller the bank will evaluate their property by ordering appraisals and or broker price opinion and they try to sell their property for what they believe it's worth on the open market.

Can we write a back up offer?

Most lender-sellers will not sign a back up offer. It stays in the file until the primary offer defaults. All offers must be presented to the seller.

Would the seller consider a contingency on the buyer's home selling?

Generally speaking, no. REO-sellers do not want to consider a contingency on the sale and closing offer. Most will not even consider a contingency on the closing of the buyer's home even if ifs already under contract. Please keep in mind that a seller wants a closing date and a firm deal without contingencies.

Is the Title clear at closing?

About one out of three transactions will experience a delay due to a title issue, and most lender-sellers open title with their designated title companies and those companies work on making sure that any issues are getting resolved. A lot of the delays have to do with Sheriff deeds being recorded etc.

How fast can we close?

If title is clear and buyers are ready to close, it should only take 2-4 days to turn around closing paperwork. However, title issues, inspections, and other factors can prolong the closing time.

Does the title search protect me?

Seek a legal opinion on this topic. In most cases, a title search will uncover most issues if they exist or they are of record. However, you should always discuss this issue with your attorney.

Do I need to get title insurance?

Title insurance is highly recommended.

How about city and county liens?

It is recommend that the buyer to contact the city, township and county to see if there are violations, liens or any other problems that the seller is not aware of. The seller can only disclose what is known. Water & sewer bill status should be verified by checking with the provider of the service. Delinquent water & sewer bills can stay with the property, and could later be added to the property taxes, if they are not paid in full. This is also true for HOA fees and communities with a pool. Some H.O.A.’s may charge for a lost pool key before giving out another one to the new owner.

What if vandalism or theft occurs before a negotiated contract is closed? Since these properties are vacant the possibility exists for vandalism or theft to take place. Due to this concern, it is STRONGLY suggested that the buyer's agent schedule a walk thru prior to closing. The seller has detailed photos of the property at many different times during the foreclosure process. If vandalism or theft has occurred prior to closing, it will be the buyer agents responsibility to advise the listing agent of this change in condition ASAP and prior to the closing. If the change in condition is reported to the listing agent, he/she must contact the seller and submit all documentation and photos that you have supplied. It will be the sellers decision as to how to proceed with the closing.

Will the seller consider a land contract, lease purchase or rent the property?

Most likely they are not, they are not interested in being a landlord.

What should I watch out for in the Seller Addendum?

Seller Addendum may include disclosure of deed restrictions, fees for re-keying locks, buyer requirement to pay transfer tax, use of seller’s title agency, etc. Be sure to read the entire addendum as it will supersede the language in the purchase agreement.

Buying a bank owned property is different experience. Hopefully, these questions and answers shed some light on the process. A buyer can always have their own legal representation, title agency (Seller’s and Buyer’s title companies must coordinate the closing). Be sure to read the entire addendum as it will supersede the language in the purchase agreement. Hopefully this will help you and your client understand REO property sales.

Note: The information in this article is not applicable to all lender-owned properties or all situations. It is general information that is meant to serve as guidance for handling lender-owned transactions. You will need to discuss specific situations with the listing agent to determine how the transaction is to be handled.

Time is running out for seller assisted down payments:

9/12/2008 7:24:00 AM

Cincinnati home buyers have been able to purchase their homes with little or no money out of pocket by having the seller gift the required FHA Down Payment. With the recent signing of the Housing Stimulus Bill last month, this program will come to an end on October 1^st . On top of that, the down payment requirement has been increased to 3.5%. Potential home buyer’s that do not have a 3.5% down payment must act now.

Financing a Deal of a Lifetime!

9/12/2008 7:23:00 AM

Financing the Deal of a Lifetime! It is true that there are more and more great foreclosure deals hitting the market in the Greater Cincinnati Real Estate Market. The problem that potential buyers of these homes face is getting the financing. With our nation’s lenders in the midst of a major credit crunch, lenders are less willing to loan even the most qualified borrowers, money to purchase a property in need of a little TLC.

By keeping a close eye on the programs offered by many of Cincinnati’s top lenders, we have found a few great programs that are helping our buyer clients to realize the purchase of great properties below market value. These programs even allow you to borrow additional money for the cost of improving the property! The key to taking advantage of the many distressed properties available on the market is to present an application package to a lender before you even start the search for a home. The various renovation loans that are still available have specific guidelines regarding the scope of the over-all project and must be reviewed on a case-by-case basis.

If you have some money to put down and at least a 680 credit score, then you may qualify for renovation financing. Our team specializes in assisting buyers in the purchase of distressed properties. Call our office today at 513-766-0647 and we will pair you up with a lender that will best serve your needs.

Top 10 features desired by home buyers

8/27/2008 10:00:00 AM

According to NAR's Profile of Buyer's Home Feature Preferences the top 10 features that buyers' look for in a home are:

Central Air Conditioning
Garage (2 or more spaces)
Walk-in closet in master bedroom
Backyard/play area
Cable/Satellite TV-ready
High-speed Internet Access
Separate shower enclosure in master/main bath
Patio
Fencing
Home less than 10 years old

It Pays To Stage Featured on CHANNEL 12 WKRC!!

8/21/2008 7:22:00 AM

Northern Kentucky/Greater Cincinnati Area Professional Real Estate staging At Affordable Prices!

staging Sells Homes!
Prices Start at ONLY $199
itpaystostage.com

staging IS A WIN-WIN!

DO you want to increase your business?

GOT a listing where "Martha Stewart doesn't live here?"

HAVE a Seller who is confused about what to do to get their home ready?

DID YOU KNOW?

* It Pays To Stage is Greater Cincinnati/Northern Kentucky's FIRST Professional staging Company

* We have Staged nearly 300 homes just since the beginning of the year

* We work as a Team with you & your Seller to get the job done

* We are Surprisingly affordable

* We will maximize your listing's appeal

* We can help you Sell Your Listings Faster for More Money

Written staging Consultation

$199.00 (Occupied Homes)

Hands-On staging

Starting at $350+up

Vacant Home staging
Starting at $550+up

Click Here For More Info itpaystostage.com

Paula Toti, Channel 12 Anchorwoman, interviews It Pays To Stage Owner, Nancy Buck.
Newport's HOTTEST address! The Ascent BEFORE . . . And After $$$

staging Sells Homes! Let us put the Power of staging To Work For You Today! .

Call (859) 525-2888 or Visit Our Website at itpaystostage.com

Sincerely,

Cincinnati First-time Home Buyer's May Be Eligible for a $7,500 tax credit

8/7/2008 8:22:00 AM

Cincinnati First-time Home Buyer's May Be Eligible for a $7,500 tax credit

As you may have already heard, President George W. Bush signed into law a bipartisan housing stimulus bill last Wednesday that is expected to bring greater stability to housing markets nationwide.

How does that bill effect you? As part of that bill, it will help some 400,000 home owners refinance into affordable, government backed loans and offer a temporary first-time home buyer tax credit. This temporary first-time home buyer tax credit would offer $7,500 for the purchase of any home and can be used for purchases between April 9, 2008, and July 1, 2009.

If you purchased a home on your home after April 9, 2008, you may be eligible for this tax credit. To find out more about the bill together with pros and cons of accepting the tax credit when you file your taxes in 2009, click the following links:

1-page summary of the First-time Homebuyer Tax Credit: http://www2.cabr.org/files/chart_homebuyer_tax_credit_.pdf

29 Questions/Answers on the tax credit. This is very important to read and understand:

http://www2.cabr.org/files/homebuyer-tax-credit-Q&A7-29-08.pdf

Please feel free to call Jason Bowman your Cincinnati Real Estate Resource should you have any questions at all.

Cincinnati Real Estate Investors With Cash Are Kings in Today's Market

7/18/2008 10:22:00 AM

Some are calling this the best market for investors since real estate tanked in the early 1980s.

Investors, alone and in groups, are negotiating volume deals as they purchase whole subdivisions and bundles of 10 to 50 defaulted loans for pennies on the dollar.

"What we're seeing today dwarfs [the 1980s] by five or 10 times," says Bob Leonetti, president of SMI Funding, an Austin, Texas, company that originates and acquires private and conventional mortgages. "There are huge opportunities for investors."

"People who have cash positions now are going to do very well," says Central Florida real estate practitioner Mike Norvell of Developers Capital Realty in Leesburg, Fla. "It's just crazy the prices you can buy for right now for cash."

Source: Investor’s Business Daily, Kathleen Doler (07/07/08)

Local Cincinnati Real Estate Agent now uses professional photography on every listing.

7/17/2008 12:57:00 PM

In January 2008, Jason Bowman, CRS, RE/MAX Elite, was one of the first real estate agents in the market to offer, at his expense, Professional Staging Consultations on every listing. Now he is adding Professional Photography, at his expense, to his already stellar listing package to assist home seller’s in getting the most for their home in the shortest amount of time. Not only does the photographer take professional pictures, he enhances the pictures to improve your positioning on the market, and creates a professional Virtual Tour that is linked to hundreds of real estate portals. “This market is tough and it does not matter if you are selling a million dollar home or a $100,000 property; every listing deserves professional photographic illustration,” says Jason Bowman. The results have phenomenal with homes averaging 53 days on the market in 2008.

It Pays to Stage "Christmas in July".

7/8/2008 11:47:00 AM

It Pays To Stage

Christmas in July!

Dear Jason,

Do you have a Vacant Home for sale? Does it feel cold and uninviting? WE CAN HELP! We specialize in Vacant Home staging. Right now, our Warehouse is brimming with fabulous furniture, accessories & artwork that will transform a DULL, EMPTY HOUSE into a BUYER- FRIENDLY HOME!

Before staging - On Market For 14 Months!!

Don't miss out on our "Christmas in July" Vacant Home staging Specials. Through the end of July, we are offering a 10% Discount on any Vacant Home staging.

Call (859) 525-2888 to schedule a FREE VACANT HOME staging ESTIMATE . SEE MORE BEFORE & AFTER PHOTOS

SOLD IN LESS THAN 30 DAYS AFTER staging!!

Remember...Staging Costs Less Than Your First Price Reduction!

Learn More

Don't miss out on our 10% Off Christmas in July Special. Call Today!

Sincerely,

Nancy Buck, ASP, SDP, OWNER

It Pays To Stage

email: nbuck@itpaystostage.com

voice: 859-525-2888

web: http://www.itpaystostage.com

The Point - June Edition - Is Your Deck Dangerous?

6/26/2008 10:53:00 AM

“THE POINT”

June edition

Is your deck dangerous?

A well built deck will last for decades. But a deck that’s rotting or missing fasteners, or that moves when you walk on it, may be dangerous. Decks built by inexperienced do it yourselfers, not inspected when they were built, or more than 15 years old (building codes were different back then) are susceptible to serious problems. Every year, people are seriously injured, even killed, when decks like these fall down. This has usually happened during parties when the deck was filled with guest.

The good news is, that most of the fixes are quick, inexpensive and easy.

Pinpoint Inspection Service LLC

Celebrating 15 years of a standard of excellence in

Residential & Commercial building inspections

Certified in Ohio & Licensed in Ky.

www.pinpointinspection.com

analystr01@fuse.net

(513) 575-5064

Missing ledger flashing

Over the last 16 years I have inspected a lot of decks. Some were very creatively designed and very well built, while others were apparently built by a novice. Most of the decks had one common problem. The ledger board had not been flashed to the house. This area should be water tight. Even the smallest of leaks can lead to mold inside the walls and even worse, the house rim joist (which supports the ledger board) will rot and fall off. Stand or crawl under the deck and look at the ledger board. If you don’t see a metal or plastic lip over the top of the ledger board, add the flashing.

For information and a detail on the proper method of flashing or for a deck inspection contact my office @ 513 575-5064

FOOD for thought

Guacamole

Makes 3 cups

3 ripe avocados, ¼ cup fresh lime juice, 1/3 cup minced red onion, / 1/3 cup chopped, seeded tomato, 1 Serrano or jalapeno Chile, seeded and minced. Kosher salt and black pepper. Peel and seed the avocado. Mash the avocado and the lime juice with a large fork or potato masher to a lumpy/smooth texture. Stir in the remaining ingredients and taste for seasoning.

“Don't worry about people stealing your ideas. If your ideas are any good, you'll have to ram them down people's throats.” Howard Aiken

1,913 Homes Sold in May;Up 4 Consecutive Months

6/26/2008 9:20:00 AM

Riddle: What is 57 and 398 and 1,724 with regard to real estate?

Answer: It’s the number of homes sold through the Multiple Listing Service of Greater Cincinnati every day, week and month for the past one year. “Who says that homes aren’t selling?”, commented Karen Schlosser, president of the Cincinnati Area Board of Realtors.

Local Realtors sold 1,913 homes last month, marking the fourth consecutive month of increased sales this year. The inventory of unsold homes also improved, shrinking to 8.38 months compared to 9.49 months in April, 9.75 months in March, 11.32 months in February and 13.31 months in January.

Months of

2008 Home Sales Inventory

January 1,130 13.31

February 1,334 11.32

March 1,557 9.75

April 1,636 9.49

May 1,913 8.38

Nationwide, May home sales seasonally adjusted were up 2% from April. They were off 15.9% from a year ago.

“The reduction in inventory of homes for sale is paving the way for a balanced market of five to six months of unsold homes,” said Schlosser. “It won’t happen over the next 30 days, but clearly we’re headed in the right direction.”

The average price of a home sold in May was $168,833. That compares to $152,419 the previous month and $176,726 a year earlier.

The local housing affordability index is 216%. An index of 100% means a family with a median income can afford to buy a median-priced home with a 20% down payment and a 6.35% mortgage. Anything over 100% is favorable. In Ohio, the affordability index is 188%. Nationally, it is 132%. The higher the number, the better. “Thus, greater Cincinnati is looking good,” says Schlosser.

The average local mortgage interest rate last month for a fixed-rate loan was 6.24%. That compares to 6.28% one year earlier. It’s now 6.66%. “Mortgage rates are still a bargain,” commented Schlosser.

Summary of Single Family and Condominium Sales

Multiple Listing Service of Greater Cincinnati

Cincinnati Area Board of REALTORS®

May Monthly Home Sales

Closings Gross Volume Average Price

May 2008 1,913 $322,976,587 $168,833

May 2007 2,334 $412,479,377 $176,726

Variance -18.04% -21.70% -4.47%

Year-to-Date Home Sales

Closings Gross Volume Average Price

Jan-May 2008 7,570 $1,206,920,694 $159,435

Jan-May 2007 9,139 $1,547,733,039 $169,355

Variance -17.17% -22.02% -5.86%

Jason Klotz of Norwood writes........

6/22/2008 8:09:00 AM

5 star rating

06/22/2008

I highly recommend Jason Bowman if you need an real estate agent to help you buy or sell your home. He is dedicated to his work and he provides high-quality services to his customers. He is honest and direct about the information you need to make good decisions for your specific situation. He is quick to return your call and really listens to what you have to say.

Here is the link to Jason's website if you're looking for a real estate agent that provides quality services: www.jjbowman.com/

Bookmark Send to a Friend Link to This Review

http://www.yelp.com/biz/re-max-elite-milford