About Warren County, OH

Some Hazards Of New Construction Home Buying

You're ready to purchase your Warren County area home, and if you're like most people, you'd LOVE to have a new home providing the right builder is building in the right location at the right price. However there are some things you need to consider before making that new construction decision. None of this is intended as a bash the builder, scare the buyer post, but things you do need to consider to protect YOUR best interests.

Step 1: GET YOURSELF A REALTOR®!!! We've talked about this before, so we won't beat the deceased equine, but the builder's rep works for the builder, we work for YOU! And for the major builders, they're NOT going to discount the price for showing up without us.

Now back to that list of things to consider:

• That development may NEVER get finished. Builders were going great guns in 2005, '06, '07 and then WHAM!!! The rug got pulled out and they came to a screeching halt across much of our service area. Some builders went under. You can drive by some developments and only see one or two homes on a street, and lots of vacant lots with no grass. Islands in a subdivision desert. What's the builder's rep? Have they closed up other developments in the area? That's a red flag. A custom builder? Might want to check the foreclosure lists and make sure their name isn't there.

• Those amenities you were promised? They're negotiable. The clubhouse and pool may not get built until a certain number of homes have been sold and built, and that may take quite awhile. Hopefully your HOA fee doesn't reflect the cost of something you're not getting. And if things get really bad, well that pool and walking trail just may get scratched off the To Do list.

• The rest of the homes in the community might not be as nice as yours. The builder starts off with the best of intentions. Every home will be $300k +/- 50k. Then cash flow isn't so good and hey, those $200k homes seem to be moving well in community B, let's build those over here in community A. Sorry about your luck. There's an area community started with the builder's premium brand and being finished with their entry level brand. Not cool if you were one of the early buyers.

• You may be overpaying, BADLY. It might be true that all the homes in a community are selling for $300k, and somehow they all appraise, but similar homes in the area are selling for $250k.

• You may be the builder's competitor later. What's you're expecting moving timeline? If you're getting in early to a development and you have to move within the first few years, unless there's massive appreciation (okay, NOT happening in our market), you're in a tough spot. There's no polite way to put this, you're probably up the creek without a paddle....or even a canoe. The builder is putting up brand new, never before lived in homes JUST LIKE YOURS, so unless you can undercut the builder, the buyers aren't motivated to pick your home.

• Those upgrades might not be worth it. If you've got the cash to make it happen after closing, you might want to pass on some of the builder upgrades. E.g. those kitchen counters. Maybe not enough selection to really fit you? Check the price and shop around for post closing installation. There are MANY granite/marble stores in the Cincinnati and Dayton area that would be happy for your business, and you can be a little more individual than your neighbors who had choices A-E to pick from.

• Can you visit the homesite frequently? The builder is only as good as their subcontractors and supervisors. DO NOT COUNT ON THE COUNTY INSPECTOR CATCHING THINGS! Hire your own home inspector to check things out at key intervals (like BEFORE the drywall is installed). Builders are human, mistakes get made, catch them before they cause you trouble after moving in.

Obviously these are just some of the major factors, and there are plenty more to consider. A new home may truly be the BEST decision for you, and we regularly work with new construction builders. However, take into account the risks before setting your heart on a new home that just may cause you heartache later. We're here to help guide you in making that decision that protects YOUR best interests.

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

Lebanon Theater Company Presents The Dining Room March 2012

It's time for a new play by the Lebanon Theater Company! Starting tonight, they're presenting The Dining Room, by A.R Gurney and directed by Steven Haines.

The Dining Room is a two act play with 18 vignettes staged in an elegant dining room. The vignettes cover many different families, from different backgrounds, from the Depression to the '80s all in the same home's dining room. Twelve actors portray more than 50 characters! You're going to enjoy this community theater production!

The Lebanon Theater Company is located at 10 S. Mechanic (the old Goodwill building) one block behind city hall. You've got the municipal parking lot immediately across the street and also on street parking.

The Dining Room will be performed:
March 10th 8 p.m.
March 11th 2 p.m.
March 16th 8 p.m.
March 17th 8 p.m.
March 18th 2 p.m.

Tickets are $18 and can be reserved by calling 513-228-0932. For more information about Lebanon Theater Company, visit www.LTCPlays.com.

We hope you enjoy the show!

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

P.S. Thinking about buying or selling a Warren County home? We'd like to win your Tony for Best Performing REALTORS®! Just give The Liz Spear Team of RE/MAX Elite a call!

Lebanon Ohio 45036 Single Family Home Residential Market Report February 2012

So how did the Lebanon Ohio real estate market perform in February? Stay with us and you'll have the full story for single family homes. .

All data is derived from the Cincinnati MLS system. If any Lebanon homes traded hands without a REALTOR® involved, then it won't be reflected in this report. For instance, for sale by owner homes and new construction may not be listed. Some new construction is included, but homes custom built to buyer requests are NOT included. All data is for the Lebanon School District area, so is not limited solely to Lebanon city limits.

With Lebanon being named one of Ohio magazine's Top 5 Hometowns for 2012, Lebanon has a lot going for it. Home of the world's largest YMCA, ready access to Cincinnati and Dayton, and a cool historic downtown area that is host to an abundance of festivals throughout the year, it's easy to understand the popularity! And the schools are rated excellent and the cost of living is more affordable than some other Warren County communities.

Lebanon offers a full range of price points, from below 100k to some estate homes under a million dollars. There is still some new construction available also, so you can pick any age from historic to brand new.

So, on to the data!

First up is the number of Lebanon single family homes sold on a month by month basis for 2010, 2011 and now starting 2012:

Next is the Lebanon median price summary chart.
Lebanon Single Family Home Category Data Summary:

Homes Sold: 16 (1 Bank/Government Owned, 2 Short Sales)

Average Price: $141,541

Median Price: $145,000

Days on Market Average: 124

Homes Active 3/8/12: 186

Homes Pending 3/8/12: 61

Sales/List %: 94.3%

Most Expensive Home Sold: $269,500

Least Expensive Home Sold: $20,000

So what is the data telling us? Overall, Lebanon single family home sales are down for this time of year. Both quantity of homes sold and median prices are below 2010 & 2011 comparison. It is positive to see the number of homes sold this year go from 10 in January to 16 in February.

The most positive sign is the high number of homes Pending sale: 61. Basically a quarter of the homes with a sign in the yard are under contract. Closings are taking longer but they are happening. With 186 homes still waiting on a contract, it's still a very competitive market. The other glaring point is that with low numbers of sales, a $20,000 transaction can negatively impact the median and average sales, especially considering no homes sold last month in the higher price points.

The proportion of distressed properties (bank/government owned and short sales) at 3 of 16 was not significant enough to drive the Lebanon market. There's not a high concentration of them in any specific Lebanon community to force everyone in that development down.

So what does this mean to you as a Lebanon single family home owner? If you've been waiting to sell, you may want to continue to wait. Prices moved up slightly from last month, but are down compared to almost all of 2011. If you don't have to sell, waiting may be in your best interest. If you do need to sell, expect to need to price aggressively to capture the buyer's attention. Proper marketing and pricing are essential to success. If either element is missing, the home will take much longer to sell, or will not sell at all.

For an evaluation of your home's marketability, please contact us.

So what does this mean to you as a potential Lebanon home buyer?

Our advice is: Lebanon home values are such that you can negotiate. There may be the occasional property in hot demand, but most homes can expect to be on the market for months and won't have high competition levels. However, if we're telling you that THIS particular home is priced to move and is desirable, you DO need to act quickly or risk someone else buying ahead of you. If you're interested in buying a Lebanon home, please contact us with your needs and we'll help you find the right Lebanon community for you!

Serving Lebanon's home buyers and sellers,
Liz and Bill aka BLiz

Mason Ohio 45040 Condominium Market Report February 2012

So how did the Mason Ohio real estate market perform in February? Stay with us and you'll have the full story for Mason condos. We covered Mason single family homes in another post. Click Mason Single Family Home Market Report for more information.

All data is derived from the Cincinnati MLS system. If any Mason condos traded hands without a REALTOR® involved, then it won't be reflected in this report. For instance, for sale by owner homes and new construction may not be listed. Some new construction is included, but homes custom built to buyer requests are NOT included. All data is for the Mason School District area, so is not limited solely to Mason city limits.

With Mason being named #24 on the Money Magazine Top 100 Best Places To Live list for 2011, Mason received recognition that area residents already knew was well deserved! With top notch public schools, extensive entertainment and dining options, and a premier community center combined with superb accessibility to downtown Cincinnati, Mason has become one of the most desired living areas in the region!

Mason offers a full range of price points, with some entry level condos below 100k and luxury/golf course community condos into the $300k price point. In general, you can expect to pay a premium for Mason condos when compared to communities further away from Cincinnati, although there is diminished opportunity for condos as you head away from Cincinnati.

So, on to the data!

First up is the number of Mason condos sold on a month by month basis for 2010, 2011 and now starting 2012:

Next is the Mason condo median price summary chart.

Mason Single Family Home Category Data Summary:

Condos Sold: 11 (4 Bank/Government Owned, 0 Short Sales)

Average Price: $144,445

Median Price: $164,000

Days on Market Average: 86

Homes Active 3/7/12: 88

Homes Pending 3/7/12: 20

Sales/List %: 94.6%

Most Expensive Home Sold: $242,500

Least Expensive Home Sold: $72,900

So what is the data telling us? Overall, Mason condo sales are performing VERY well for this time of year. The quantity of homes Sold in February (while down slightly from January) almost matched the combined 2010 & 2011 February sales. The 20 Pending condos is also a strong sign for the coming months. With 88 condos on the market, there's inventory for buyers to choose from, but perhaps not something for every buyer.

The proportion of distressed properties (bank/government owned and short sales) in the market is influencing but not dominating the Mason condo market.

So what does this mean to you as a Mason condo owner? If you've been waiting to sell, it might be time to get a For Sale sign posted! Prices are up, with the median price beating every month in 2011 and the fourth highest overall for 2010 & 2011. Mason is still in high demand. Our condo listings in Mason get plenty of activity, although it may take more than one offer to get an acceptable price. Buyers are still looking for the steal of a deal. Depending on whether dollars or speed is most important to you, we can set a pricing and marketing strategy to bring you success.

For an evaluation of your home's marketability, please contact us.

So what does this mean to you as a potential Mason home buyer? Our advice is the same as for Mason single family residences: THE DATA TELLS US THE BOTTOM HAS BEEN HIT AND PASSED. The longer you wait to purchase a Mason condo the more it's going to cost you. If you're interested in buying a Mason condo, please contact us with your needs and we'll help you find the right Mason community for you! Continuing to wait may force you to either buy less for your dollar, or shift your purchase to another area that gives you more home for your dollar.

Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz

Mason Ohio 45040 Single Family Home Residential Market Report February 2012

So how did the Mason Ohio real estate market perform in February? Stay with us and you'll have the full story for single family homes. We'll cover Mason condos in another post.

All data is derived from the Cincinnati MLS system. If any Mason homes traded hands without a REALTOR® involved, then it won't be reflected in this report. For instance, for sale by owner homes and new construction may not be listed. Some new construction is included, but homes custom built to buyer requests are NOT included. All data is for the Mason School District area, so is not limited solely to Mason city limits.

With Mason being named #24 on the Money Magazine Top 100 Best Places To Live list for 2011, Mason received recognition that area residents already knew was well deserved! With top notch public schools, extensive entertainment and dining options, and a premier community center combined with superb accessibility to downtown Cincinnati, Mason has become one of the most desired living areas in the region!

Mason offers a full range of price points. There are a number of older developments featuring 1950s and 1960s vintage brick ranch homes to the other end of the spectrum with golf course community homes in excess of $1 million dollars! And of course, all the price points in between are covered too. In general, you can expect to pay a premium for Mason homes when compared to communities further away from Cincinnati.

So, on to the data!

First up is the number of Mason single family homes sold on a month by month basis for 2010, 2011 and now starting 2012:

Next is the Mason median price summary chart.

Mason Single Family Home Category Data Summary:

Homes Sold: 25 (3 Bank/Government Owned, 3 Short Sales)

Average Price: $319,294

Median Price: $328,000

Days on Market Average: 75

Homes Active 3/7/12: 213

Homes Pending 3/7/12: 78

Sales/List %: 92.9%

Most Expensive Home Sold: $775,000

Least Expensive Home Sold: $107,900

So what is the data telling us? Overall, Mason single family home sales are performing well for this time of year. While the quantity of homes Sold in February didn't beat 2010 & 2011, it's up from January 2012. The large portion of Pending homes is also a fantastic sign, making up approximately a quarter of all Mason homes with a sign in the yard. There's inventory for buyers to pick from, but not an overabundance either.

The proportion of distressed properties (bank/government owned and short sales) in the market is not significant enough to drive the Mason market. There's not a concentration of them in any specific Mason community to force everyone in that development down.

So what does this mean to you as a Mason single family home owner? If you've been waiting to sell, your wait might be over. Prices are trending up and February 2012 was the highest Median Sale price since June 2010. Mason is still in high demand. We love listing homes in Mason because with proper marketing and pricing, that home will get plenty of activity and should sell in a reasonable amount of time. Again, stressing PROPER MARKETING AND PRICING! If either element is missing, the home will sit. Despite the stats showing the Mason recovery, don't expect all buyers to be in that mindset. Most media outlets are still telling them how horrible the market is, which may be true in some places, but not in Mason.

For an evaluation of your home's marketability, please contact us.

So what does this mean to you as a potential Mason home buyer? Our advice is the same as prior: THE DATA TELLS US THE BOTTOM HAS BEEN HIT AND PASSED. The longer you wait to purchase a Mason home the more it's going to cost you. It really is that simple. If you're interested in buying a Mason home, please contact us with your needs and we'll help you find the right Mason community for you! Continuing to wait may force you to either buy less home for your dollar, or adjust to another area that gives you more home for your dollar.

Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz