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July 7, 2010
June 19, 2010
Greater Cincy’s Mortgage Rates Hit a 25-Year Low
Greater Cincinnati’s average mortgage rate has hit a 25-year low for the second time in two weeks. Meanwhile, the national average rate on a 30-year fixed mortgage backed off from yearly lows this week, but remains historically cheap.
The average rate for a 30-year mortgage in Greater Cincinnati fell 0.01 points this week to 4.81 percent, according to data from the Cincinnati Area Board of Realtors.
Mortgage finance company Freddie Mac said Thursday the average rate rose to 4.75 percent, up from 4.72 percent last week. The rate hit 4.71 percent in December, the lowest since Freddie Mac began keeping records in 1971.
The national average rate on a 15-year fixed-rate mortgage edged up to 4.2 percent, up from its all-time low of 4.17 percent set last week. The local 15-year rate also rose 0.03 point to 4.30 percent; the local rate hit a 25-year low on the week of May 24.
May 19, 2010
No More Stimulus, But Analysts Forecast A Continual Increase In Sales
As many of you are aware, the government housing stimulus package expired 4/30/2010. The good news is analyst are forecasting the market to continue to perform positively. We are looking forward to the publishing of May’s market results and anticipate an incline in sales!
March 24, 2010
Real Estate is Recovering
Some of the nation’s top economists believe the housing market has turned and better days are on the way for the housing industry.
Increases in jobs, credit and affordable homes will overcome impediments such as rising interest rates and the expiration of the Federal stimulus program to push the housing market toward recovery, says Dean Maki, chief U.S. economist for Barclays Capital.
“I would bet even odds that we’re at a bottom and that we’re going to see improvement in the coming months,” says Karl Case, co-creator of the S&P/Case-Shiller Home Price Index and a professor of economics at Wellesley College.
“The underlying trend is turning positive,” says Bruce Kasman, chief economist at JPMorgan Chase & Co.
March 10, 2010
Buyers Who Wait May Lose A Lot
Potential home buyers who delay have a lot to lose.
First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes, or a cash payment, if they don’t pay enough taxes to cover the credit.
Other factors that should spur buyers:
Low mortgage rates. If the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates will almost certainly rise to more than 6%. Freddie Mac documented a decline in mortgage rates during the week ended March 4, with 30-year fixed home loans slipping to 4.97% from 5.05% and 15-year interest averaging 4.33%.
Rising prices. About 30% of markets are already experiencing price increases. Prices are falling in 12% of markets, says Fiserv (but that only helps if you want to live there).
March 6, 2010
30 Year Mortgage Rates Dip Back Below 5%!
According to REALTOR MAGAZINE the consumer has again found themselves in a perfect storm to buy. 30 year mortgage rates are again below 5%, it is not too late to qualify for either stimulus package and the weather in Cincinnati is on path to Spring (which means more people looking to buy a home)!
February 17, 2010
The Fact is People are Buying
4 Reasons to Sell Now
Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
- Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
- Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
- Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
- Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.
Spruce Up Your Curb Appeal
Despite the snow fall, Spring is around the corner! Here are five tips you can use to better the curb appeal of your home…
1. Sidewalks and Driveways:
This may be the first part of your property that your guests or prospective buyers step foot on. Literally.
An affordable, virtually maintenance free option for sprucing up your paths is concrete stain. It can cost around $30 a gallon and requires very little prep work. This is a do-it-yourself project.
Consider picking a color that is in the same color family as that of your home. A blue home could be happily complemented by a gray drive.
Another tip: Fix cracks and uneven sections. This project may require a bit more professional attention, but will give buyers the impression that your entire home, not just the entrace, has been maintained.
2. Accent Door:
It has been called the lipstick on the lady. It’s inviting and it draws visitors – or buyers – in to your home. A plain door tends to recede into the background.
Consider a contrasting color to the siding of your home. On the color wheel, green is opposite red and yellow is opposite blue. Don’t be afraid to be daring (think a fushcia door on a cream colored home). Just a pint of paint can cover most doors, and if you don’t like the result – you can try another color!
3. Trimming Trees:
Stand in front of your home and take a close – and fresh – look at your trees and bushes. Are there branches that have become overgrown and now obstruct the view of the home?
You want your landscaping to complement your home, not hide it. Trees should frame paths and entries. To trim tree branches yourself you can buy a pole pruner or chain saw. Or you can hire a professional, who has experience in shaping trees.
Keep in mind, however, that spring is NOT the time to prune flowering trees or maples. These should be done in late Summer and early Fall.
4. Early Spring Planting:
The last frost date varies by area. It also varies from year to year in that area, but if you feel that your home will not see another frost, then you may be safe to plant a few hardy annuals to add some pops of color to your yard. Even if a frost catches you by surprise – you can cover the plants for the evening to save them from succumbing to the cold.
The plant must also have time to take good root before severe rains come.
Some plants that you can give you an early burst of color:
Pansies: these bolts of color can even survive winter in some areas
Calendula: these “pot marigolds” are a versatile plant
Violets: heart shapes petals
Other options: cornflower, foxglove, larkspur, sweet alyssum, dianthus, baby’s breath, bells of Ireland, blue sage, candytuft, celome, forget-me-nots, love-in-a-mist, snow-on-the-mountain, strawflower, and torenia
5. Outdoor Lighting:
Low voltage (12 volt) and solar lighting are great options for improving curb appeal.
There are hundreds of designs of solar lights. These small fixtures are generally set on stakes in the ground and can be used to accent paths or gardens. And they are a great do-it-yourself option.
Also, consider using uplighting on trees to create night-time focal points – great for buyers doing after work drive by inspections!
February 6, 2010
Announcing Suzie Wong’s Lease at DeSales Plaza
Kenko is proud to announce the lease completion and grand opening of Suzie Wong’s on Madison at DeSales Plaza. Kenko represented the tenant in the transaction.
Suzie Wong’s Pan-Asian Bistro is scoring rave reviews from citizens and food critics alike. Polly Campbell, the popular Cincinnati Enquirer food critic, recently awarded the restaurant 4 stars in her Januray 22, 2010 review.
Kenko Closes Home Sale in Goshen twp.
Kenko represented the buyer in the sale of 1304 Sandwood in Goshen twp. Sale price for the home was $183,962.