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Market Conditions in Ohio : Real Estate Advice

  • All354
  • Local Info13
  • Home Buying206
  • Home Selling39
  • Market Conditions1

Activity 257
Tue Dec 7, 2010
Sheri Mapes answered:
It will suspend the recovery in the real estate market much longer. There is over a 2 year supply of lender owned properties nationwide currently...freezing foreclosures is just a will have to happen eventually. ... more
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Mon Dec 6, 2010
Suzanne MacDowell answered:
I think it will depend on your local market, however, I can tell you that here in New Jersey the market IS coming back. It's still something we have to look at on a town by town basis, but in many communities, especially the more 'up scale' communities, prices have stabilized and both the number of sales and the average sale price have gone up. Number of sales has increased fairly significantly and average sale price slightly. Historically, where the more affluent communities lead, the others follow.

We are not expecting a surge, but a slow and steady return to a more normal market is anticipated.
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Tue Dec 7, 2010
Jim Basquette CRS, CNE answered:
The city of Cincinnati has several revitalization projects going on in various neighborhoods. In 2002 the Over the Rhine - Gateway Quarter project was started and has made a lot of progress. The city is helping developers in areas like the East Price Hill - Incline Square project.

The city also offers individual home buyers assistance so they can buy homes. The ADDI, American Dream Downpayment Initiative program is an example. In addition, many neighborhoods have their own groups the EPHIA, the East Price Hill Improvement Association or the Westwood Civic Association.
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Mon Dec 6, 2010
Phil Rotondo answered:
Increase the demand and reduce the supply of available properties.
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Sun Mar 27, 2011
Martin Botnick answered:
Did you mean GROSS return or NET return? Marty Botnick Realtor, Howard Hanna
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Sat Nov 27, 2010
Jim Basquette CRS, CNE answered:
My buyer's agents insure they have a clear understanding what the buyer is looking for in a home and neighborhood and will help them think through the selection process. They guide them through loan pre-approval and what they can do to insure the offer they eventually make, has it's best chance of being accepted.

Through searches, they make sure that all homes that match their buyer's needs and wants are brought to their attention.

They also help the buyer understand the importance of what to expect from each step of the buying process.

As a sellers agent, I make sure that the sellers know what to expect in the selling process and the importance of staging, professional photos, maximum exposure, correct pricing, target marketing, compelling ad copy and the best timing of each step in the process for selling their home.

I further explain the importance of handling offers when they are received. As a CNE - Certified Negotiation Expert I will guide them through the negotiation process to insure we the home for the best possible price without being hard-nosed and losing a potential buyer. At the time of the offer, we discuss the possible issues that could prevent the interested buyer from closing the sale including inspections, loan approval and other issues.

I prepare them for the closing so everything goes as well as it can.
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Thu Nov 25, 2010
Ryan Smith answered:
Hi Sarah,

Your best bet would be consult a local appraiser or land broker in that area that specializes in that type of property. You can enter your city and state above then click find a Pro.

Good Luck!
Chris Blasic
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Sat Nov 20, 2010
Edith Karoline Jasser answered:
Do you intend to buy or to sell? If you are a potential seller, or a potential buyer, connect with an area Realtor who has access to all the information you are seeking in your town, whether for the purpose of listing your home or buying... Once you sit down with a Realtor for a market evaluation, you can ask all your questions
and then make an educated decision.... Remember to give you a good and valid information, the Realtor will have to see your home, and compare it to similar homes in a similar size, price range, lot size, upgrades etc.
And then once you put your home on the market, you will still depend on competing properties, price changes of competing properties, some short sales and foreclosures may sell first.... All this means that even if you get an average time on market for your particular property, of let's say 10 months, you will not know if yours will sell the first month or the last, and if the market changes in the meantime!

So, you need the advice of a good Realtor you trust and then prepare your home well, and put it on the market and in today's markets well priced homes sell faster....

Good Luck to you and I hope this helps you a little...
Sincerely Yours,
Edith Your Chicago Connection, & YourRealtor4Life!
Working always in the very BEST interest of her clients
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Mon Jun 3, 2013
Dallas Texas answered:
Any agent can do this however what is your purpose COMP your home? Home value is based on homes sold not active.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Sat Oct 23, 2010
mrhs asked:
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Wed Oct 27, 2010
Doug Turlo answered:
The foreclosure freeze has effected the Columbus market with some of the larger bank owned real estate companies pulling listings and putting pending sales on hold. Whether it will effect your particular neighborhood is unknown. Your agent can check the current inventory for your neighborhood to see if there has been a reduction. ... more
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Fri Nov 5, 2010
John Kiefaber answered:
Probably about $400/side. If you can get approved for Section 8, should be able to get $650.00/side. This duplex is in a high risk area.
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Fri Oct 8, 2010
Jim Basquette CRS, CNE answered:
Since there is a lag that varies between pending and sold, an exact number isn't easy to come by. We can get close though.

In the past 12 months ending in August, 18,507 properties were sold. If we assume a 30 day lag we would use the past 12 months ending July, 20,928 were pending. This means that 2421 (about 11.5%) didn't close. There is very little difference between the pending sales waiting to close in July and August.

There are many reasons why the percentage is 88.5% instead of 100%. Buyers not getting financing and buyers who did not close because of inspection contingencies were the major reasons. Some buyers and sellers changed their minds and mutually agreed to get out of their contracts.
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Thu Oct 7, 2010
Danny Vinson answered:
Which section of Cincy? I would say about 90+ but it depends on the section.
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Sat Oct 9, 2010
Cheri Hewald and Dan Riley answered:
Thu Sep 9, 2010
Thomas McCombs answered:
Generally speaking the future looks about like the present. There are a lot of houses on the market now, and many more waiting for any signs of increased buyer activity.
We just have to remember that, while sellers are not getting what they would like to get for their existing homes, they can make it up on the house they are going to buy to replace it.
Prices go up and down together, so there is no advantage to waiting to sell or to buy.
In the meantime we do not want to let the opportunity presented by these extraordinarily low interest rates pass us by.
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Thu Sep 9, 2010
Art Hotes answered:
IMHO, now is the best time to get in to real estate! I'm happy to offer my 2 cents... give me a call at 440-973-6299!

Art Hotes ~ RE/MAX Crossroads
0 votes 4 answers Share Flag
Sun Sep 5, 2010
Brittany Simonelli answered:
There are 9 homes that have sold since Jan 2009 in Franklin Park. I believe the the Lincoln District improvements will help to improve the values in Franklin Park area also. Of the 9 homes that sold, the prices ranged from $70,000 for a fixer upper to $157,000 for a nicely remodeled home. ... more
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Fri Aug 6, 2010
Ken And Kim Erickson answered:
Yes, its a great time to purchase but you still have to do your homework on pricing and values. Run comparables based on the neighborhood. Bank owned are usually great deals but they are not the only deal out there.. ... more
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Tue Oct 25, 2016
James Gordon ABR SFR SRS answered:
Lynndee it all depends on what you put in the home and where you are going to build. You can build from under 100.00 a foot to the sky is the limit depending on your ammenities. I just closed monday on a new construction that came in at 115.00 a foot that was great. The home even had granite tops in all the bathrooms and a extra large 2 head shower in the master. Master walk in closet is about 14x16! They had a whole home sound system that added about 1.50 a foot, a deeper basement that added about 1.00 a foot, upgraded carpet that added about 1.50 a foot, brick design that added a 1.00 a foot, mud room/laundry room with coat closet that added about 3.00 a foot, the list goes on. So it all depends on what you want in the home and your future plans.
By the way use a Realtor® to help you that is familiar with new construction as they may be able to save you a lot of money and head aches.
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