Derek Tye

Greater Cincinnati Housing Stats- March 2007 to March 2009 Month to date

These numbers include the school districts of:

Batavia, Bethel-Tate, Cincinnati Public, Clermont Northeastern, Deer Park, Fairfield, Felecity-Franklin Local, Finneytown, Forest Hills, Goshen Local, Great Oaks, Hamilton City Schools, Indian Hill, Kings Local Schools, Lakota Local Schools, Lebanon City Schools, Little Miami Local, Lockland City Schools, Loveland City Schools, Madeira City Schools, Mariemont City Schools, Mason City Schools, Milford, Middletown City, Monroe Local, Mt. Healthy Schools, New Miami Local, New Richmond Schools, North College Hill, Northwest Local Schools, Norwood, Oak Hills, Princeton City, Reading City Schools, Ross Local Schools, St. Bernard-Elmwood Place, Southwest Local Schools, Sycamore, Three Rivers Schools, West Clermont Schools, Williamsburg Local, Winton Woods, Wyoming City

PRICES:

For Sale: $158,660 vs $155,000 down 2.3%

Under contract: $144,900 vs $125,053 down 13.7%

Sold: $135,000 vs $123,000 down 8.9%

The encouraging news is that the "bottom" in our chart looks as though it occurred in January 2009. Since then we have reported two consecutive increases over the previous months (February and March). March may be to quick to call but hopefully by the end of the month the numbers will hold. Although not as good as March of 2007 or 2008 the numbers are higher than both January and February of this year. I am hoping that January was the "Bottom."

If you have any direct needs or questions, please don't hesitate to call me directly at 513-478-3794. I can also refer you to a lender to get a great interest rate on your home.

Have a great day!
Derek Tye

Derek Tye has been an influential Realtor in the Greater Cincinnati Ohio Market for over 4 years. For more information about our Greater Cincinnati Ohio Real Estate services we offer please call us at 513-732-2720 or visit our website at www.CincyOhioHomes.com . Don't miss our Testimonials!

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Many of my customers in this market (Cincinnati, Ohio) are getting letters and postcards from both lenders and investors offering to keep them from going into foreclosure. There are two basic strategies that I am seeing:

1. The lender refinances the loan either through a loan modification or using some of the equity in the home.

2. The investor offers to purchase the home by entering into an option contract first and negotiating directly with the bank who holds the note.

Process two is what this blog is about. Has anyone seen any success from any of these investment companies? One of them, debtcurepros.com just put an option contract in on one of my listings and we are supposed to hear back within ten days if the deal is going to happen or not.

I guess the main strategy for the investor is to negotiate a super low price from the bank and then quickly close on that short sale amount. The seller gets out of the deal without a deficiency judgment against them so they don't care how low the house is purchased for. The buyer's agent then turns around and lists the property under market value for a quick profitable sale. Again, I am looking for any individuals, agents, mortgage company professionals, attorneys, investors, etc that have seen this happen. Positive or negative feedback both welcomed.

Thanks!

Derek

Derek Tye has been an influential Realtor in the Greater Cincinnati Ohio Market for over 4 years. For more information about our Greater Cincinnati Ohio Real Estate services we offer please call us at 513-732-2720 or visit our website at www.CincyOhioHomes.com . Don't miss our Testimonials!

CincyOhioHomes.com | Cincinnati Real Estate | Dayton Real Estate | Northern Kentucky Real Estate | National Real Estate | Featured Homes | For Sale By Owner | Cincy Foreclosure Tours | New Construction | Relocation to Cincinnati | Calculate Mortgage | County Auditors | Cincinnati School Information | Home Services | Open Houses | Buyers | Sellers | Testimonials | About Us

Ohio's housing market is seeing a major decline statewide. From January of 2008 to January 2009 the market as a whole in the State of Ohio declined 21.3% from last year. In Cincinnati Ohio, the number of units sold went from 1130 to 909, a change of -19.6% from January to January.

Sale prices weren't much better. The sale price in January of 2009 vs 2008 went down 18.4% in Greater Cincinnati. The state average was -11.9%.

On a positive note, the "experts" are now saying that the bottom is near for Ohio. In the March edition of the Ohio Market Newsletter for Ohio Realtors there was an article titled "Real Estate Outlook: Expert says the bottom is in sight".

In the article they quote Moody Economy.com's chief economist Dr. Mark Zandi and said that the "bottom of the housing downturn is in sight for the nation". Even the Wall Street Journal had a headline reading "for some, its finally time to dive into the housing market". Mortgage rates are also hovering near historic lows. I have talked to several title agents and lenders and they are seeing rates for homes between 4.5% and 6%. If we can tackle the issue of rising unemployment we may just see our way out of this mess soon.

If I can help with any real estate related issues, please let me know!

Derek Tye

Derek Tye has been an influential Realtor in the Greater Cincinnati Ohio Market for over 4 years. For more information about our Greater Cincinnati Ohio Real Estate services we offer please call us at 513-732-2720 or visit our website at www.CincyOhioHomes.com . Don't miss our Testimonials!

CincyOhioHomes.com | Cincinnati Real Estate | Dayton Real Estate | Northern Kentucky Real Estate | National Real Estate | Featured Homes | For Sale By Owner | Cincy Foreclosure Tours | New Construction | Relocation to Cincinnati | Calculate Mortgage | County Auditors | Cincinnati School Information | Home Services | Open Houses | Buyers | Sellers | Testimonials | About Us

I had the pleasure the last two years of serving on the Business Technology Committee for the Cincinnati Area Board of Realtors. This year I was asked to be on the committee as the Vice Chair. We just completed our second meeting and got a lot accomplished. We have decided to do a forum for the rest of the board members on the advantages of Social Media in Real Estate and the newest mapping features on our MLS site. Both will be very interesting topics on our April 15th class.

What I enjoy most about our group are all the great ideas I get from the rest of the members. Today we discussed some free 411 options for anyone and other great money saving tips. I will report back after our forum as well. I would encourage anyone to join a networking group or other business group and take advantage of others ideas and contribute some suggestions of your own!

Have a great day!

Derek

Derek Tye has been an influential Realtor in the Greater Cincinnati Ohio Market for over 4 years. For more information about our Greater Cincinnati Ohio Real Estate services we offer please call us at 513-732-2720 or visit our website at www.CincyOhioHomes.com . Don't miss our Testimonials!

CincyOhioHomes.com | Cincinnati Real Estate | Dayton Real Estate | Northern Kentucky Real Estate | National Real Estate | Featured Homes | For Sale By Owner | Cincy Foreclosure Tours | New Construction | Relocation to Cincinnati | Calculate Mortgage | County Auditors | Cincinnati School Information | Home Services | Open Houses | Buyers | Sellers | Testimonials | About Us

I was driving down Glen Este Withamsville Road in Clermont County this morning and had the urge for a Carmel Latte. After considering my options (Starbucks or Panera Bread) I stumbled across a new coffee shop right in front of the Kennedy's Landing Apartments and across the street from Chipolte. The shop looked cute from the outside so I stopped in.

As I entered, I heard some pleasant inspirational music that I recognized as "Third Day". There was also some antiques and other merchandise sharing the space with comfortable looking tables and chairs. It smelled of freshly steamed milk, hot espresso and peculating coffee. I was immediately greeted by a friendly man who quickly finished serving the customer in front of me and proceeded to ask me what I would like to have. I ordered the Carmello drink and a blueberry scone. I was afraid that the Latte was going to be not as good as the national chain competition but I was pleasantly surprised with the flavor and the caffeine jolt I received. While he was preparing my Latte I mentioned to him that I like to support small businesses and we got on the subject of blogging and websites.

He introduced me to Sherry, the owner. After spending a few minutes with the owner and her husband I left feeling warm both from the latte and the conversation. I hope that many of you will feel the same way when you stop in. The name of the business the Eclectic Curio Coffee House.

Have a great day and let me know if you try it!
Derek

Derek Tye has been an influential Realtor in the Greater Cincinnati Ohio Market for over 4 years. For more information about our Greater Cincinnati Ohio Real Estate services we offer please call us at 513-732-2720 or visit our website at www.CincyOhioHomes.com . Don't miss our Testimonials!

CincyOhioHomes.com | Cincinnati Real Estate | Dayton Real Estate | Northern Kentucky Real Estate | National Real Estate | Featured Homes | For Sale By Owner | Cincy Foreclosure Tours | New Construction | Relocation to Cincinnati | Calculate Mortgage | County Auditors | Cincinnati School Information | Home Services | Open Houses | Buyers | Sellers | Testimonials | About Us