West Chester, Oh Real Estate: Now Is The Time To Buy!

December 29, 2008 By

Now Is The Time To Buy…

 

 

 

This home is a perfect home for the first time homebuyer with it’s many updates and terrific location in West Chester, Ohio.  With the historically low interest rates available today combined with the $7500. tax credit available to first time homebuyers right now and it truly IS THE TIME TO BUY!  Read my previous post on the first time homebuyer tax credit here.

8708 Willet Lane, West Chester, Ohio 45069

West Chester, Ohio 45069

Lakota Schools

$174,900  - Three Bedrooms – Two Full Baths, One Half Bath

This is a terrific, move in ready home in West Chester:

  • Full Of Upgrades
  • Warm, Inviting Family Room w/ Fireplace
  • Kitchen Features Corian Counters & Newer Appliances
  • Formal Living & Dining Rooms
  • Master Bedroom Features An Adjoining Full Bath
  • Finished Lower Level Rec Room
  • Patio Overlooks Large Rear Yard
  • New Furnace / AC In 2007
  • New Hot Water Heater In 2005
  • Newer Gilkey Windows
  • Close To Schools, Shopping, Dining & Expressways!

Click here to see more information on this terrific West Chester, Ohio home for sale including many more photos

Moving to West Chester or Liberty Township, Ohio?  Request our Relocation Packet  It’s full of information about our area

 

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

Filed Under: Financing, New Listings, Real Estate Information Tagged With: , , , , , , , ,

Liberty Township, Ohio Real Estate: New Listing 6636 Eagle Creek Drive

December 14, 2008 By

My Newest Listing…

 

6636 Eagle Creek Drive, Liberty Township, Ohio 45011

6636 Eagle Creek Drive, Liberty Township, Ohio 45011

6636 Eagle Creek Drive, Liberty Township, Ohio 45011

Liberty Township, Ohio 45011

Lakota Schools

$289,900  - Four Bedrooms – Two Full Baths, One Half Bath

This is a beautiful, move in ready home in Liberty Township:

  • 2900+ Square Foot Custom Built Home
  • Two Story Foyer w/ Hardwood Floors
  • Two Story Great Room w/ Beautiful Stone Fireplace
  • Large Kitchen Features Island, Hardwood Floors, Breakfast Nook & Planning Desk
  • Formal Dining Room w/ Recessed Ceiling, Crown Molding & Chair Rail
  • First Floor Study w/ Oak Paneling & French Doors
  • Cathedral Master Suite Features A Sitting Room w/ Fireplace, Luxury Bath & Huge Walk-In Closet
  • Terrific Three Season Room Overlooks Rear Yard
  • Walkout Lower Level
  • Three Car Garage
  • One Year Home Warranty
  • Close To Schools, Shopping, Dining & Expressways!

Click here to see more information on this terrific Liberty Township, Ohio home for sale including many more photos

Moving to West Chester or Liberty Township, Ohio?  Request our Relocation Packet  It’s full of information about our area

 

Check Out My Feature Homes For Sale In West Chester and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

Filed Under: New Listings, Real Estate Information Tagged With: , , , , , , , , , , ,

West Chester Oh Real Estate: October 2008 Home Sales

December 6, 2008 By

October 2008 Home Sales For West Chester & Liberty Township, Ohio

 

 

October 2007

October 2008

+ / -

Closed Units

102

97

-4.90%

Average Sale Price

$229,333

$225,545

-1.65%

Average Days On Market

92

72

-21.74%

Average List / Sale Price %

96.09%

94.98%

-1.11%

 Sales were once again down in October 2008 when compared to October of last year.  Unit sales (closings)  were down 4.90% in West Chester and Liberty Township.  The percentage decrease is smaller than it has been previously, continuing a pattern of inconsistency in sales.  We have a little burst of activity and then it slows again.  Average sale prices were down 1.65% over October of 2007.  This is a smaller decrease than we have been seeing in recent months.  To determine if this is a change in the overall trend of the average sale price for West Chester and Liberty Township homes we will need to be closely examining the sales figures for the coming few months. 

Thinking of selling?  Click here to learn the current market value of your home.

Interest rates continued their dramatic drop this week.  This week we saw a drop to at weeks end 5.30% for a 30 year fixed rate mortgage.  An FHA 30 year fixed rate mortgage is currently 5.50%.  These are great rates that are changing daily.  If you need a referral to a good lender with competitive rates and closing costs please let me know.

Moving to West Chester, Liberty Township, Mason Or Cincinnati, Ohio?  Click here to receive our Relocation Packet, full of information and completely free, with no obligation!

posted by Eric LowryEmail Me | Search For Homes

www.LowryTeam.com | P: (513) 874-1830    
 
 
 

 

 

Filed Under: Financing, Real Estate Market Statistics Tagged With: , , , , , , ,

It’s A Great Time To Buy A Home In West Chester And Liberty Township, Ohio

October 23, 2008 By

It really is a great time to buy a home.  Why??

Here are 6 reasons why now is the time to buy a new home in our area:

1.)  There is a great inventory of homes for sale right now – the selection is fantastic.  There are many great opportunities.  You can search homes for sale on my website:  Search homes for sale in West Chester and Liberty Township.

2.)  Interest rates are terrific right now.  As of today (10/23/08) a thirty year fixed rate mortgage is 5.80% with no points.   How low is this?  Consider that 18 months ago the rate was 6.49% with no points.  Keep in mind though, rates will not stay this low forever.

3.)  Owning a home is one of the best ways to build wealth.  When you are buying a home you are building equity and adding to your assets.

4.)  Tax breaks.  Owning a home provides great tax benefits including deductible items such as mortgage interest (both on your first and second), PMI or private mortgage insurance, and real estate property taxes.  Be sure to check with your tax professional.

5.)  If you are a first time home buyer you can take advantage of the first time homebuyer tax credit.  You can read more regarding this terrific opportunity in this recent post on my blog.  First time home buyer credit for West Chester and Liberty Township homebuyers

6.)  You can’t time the market.  You will never know when home prices have hit bottom until sales and prices have begun to increase. Buying a home now ensures a good price and good rate AND a piece of the market before our next major upturn. It is a buyer’s market now.

Are you a first time homebuyer looking for more information on buying a home?  I am happy to help!

Are you a current homeowner thinking of moving up to a larger or newer home?  Email me for more information on our Guaranteed Sale Program.

Check Out My Feature Homes For Sale!

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

Filed Under: Financing, Real Estate Information Tagged With: , , , , , , , ,

1st Half 2008 Home Sales For West Chester & Liberty Township, Ohio

August 24, 2008 By

1st Half 2008 Home Sales For West Chester & Liberty Township, Ohio

 

 

Jan-June 2007

Jan-June 2008

+ / -

Closed Units

692

607

-12.28%

Average Sale Price

$244,219

$229,711

-5.94%

Average Days On Market

82

84

+2.44%

Average List to Sale Price %

96.54%

95.79%

-.75%

 Sales were down for the 1st half of 2008 when compared to the 1st half of last year.  This should come as no surprise to anyone.  Everywhere you look and/or read the message is the same for the most part. (Some of the reports make things out to be worse than others). Unit sales (closings)  were down 12.28% in West Chester and Liberty Township. 

Does this mean that you won’t be able to sell your home if you need to?  It most certainly does not.  I am successfully selling homes each and every month of this year and some of them pretty quickly.  What all of this does mean is: (1.) you must prepare your home for the market (2.) you must price it properly and (3.) you need a strong marketing effort.

Average sale prices were down 5.94% for the 1st half of 2008 when compared to the same period in 2007. There is no way to paint this statistic in a good light.  This is a large decrease in the average sale price for West Chester and Liberty Township homes. Again, this emphasizes the need to price your home correctly in today’s market.  Thinking of selling?  Click here to learn the current market value of your West Chester and Liberty Township. Ohio home.

Interest rates continue to be very volitale.  In the last week I have seen rates move lower to 6.20% for a 30 year fixed rate mortgage from a recent high of 6.55%.  The rates are changing daily.  If you need a referral to a good lender with competitive rates and closing costs please let me know.  Mortgage rate locks can become crucial right now. Read this article in my August online newsletter.

Moving to West Chester, Liberty Township, Mason Or Cincinnati, Ohio?  Click here to receive our Relocation Packet, full of information and completely free, with no obligation!

Your questions and comments are always welcome!

 

 

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

Filed Under: Real Estate Information, Real Estate Market Statistics Tagged With: , , , , , , , ,

1st Time Home Buyer Tax Credit For West Chester & Liberty Township, Ohio

August 20, 2008 By

The recently enacted housing bill that was passed by congress has created a lot of questions.  In particular regarding the 1st time homebuyer credit.

Here are some resources to get the answers you may need:

Here is a 1-page summary of the First-time Homebuyer Tax Credit

Also, this can be very important to read and understand:

29 Questions/Answers on the tax credit.

And finally here is a great article from the Washington Post which is very informative.  There is a lot to understand about this tax credit.  Be sure that you have all the facts!

Before You Take That New Housing Credit . . .

Are you a 1st time homebuyer with questions about getting pre-approved or just where to start?  Let me know how I can help.  Calls and emails are always welcome.

 

 

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

Filed Under: Financing, Real Estate Information Tagged With: , , , , , , ,

Real Estate Market Update For West Chester & Liberty Township, Ohio – February 2008

March 11, 2008 By

February 2008 Home Sales For West Chester & Liberty Township, Ohio

 

 

February 2007

February 2008

+ / -

Closed Units

82

79

-3.66%

Average Sale Price

$235,031

$228,849

-2.63%

Average Days On Market

82

84

+2.44%

Average List to Sale Price %

96.88%

95.19%

-1.69%

 

When is a decrease in home sales good news??

When the decrease in the number of closed units is the lowest percentage decrease in quite some time.

Home sales in West Chester and Liberty Township fell by 3.66% in February 2008 when compared to February 2007.  This is remarkable when you consider that the last couple of months decreases were 29.27% In January and 21.00% in December.  We are seeing sporadic increases of showing activity by buyers, however these showings are not resulting in an increase in sales as of yet, however this is clearly an improvement over the steep declines that we were seeing. 

The average sale price in West Chester and Liberty Township was $228,849 in February.   This is a lower average sale price than what was seen in February of 2007.  It is 2.63% lower than 2007.  This is certainly not surprising and continues to re-inforce the need to price your home aggressively to get it sold. 

Wondering what your home is worth??

Click here to find the current market value of your home

The average days on market rose to an average of 84 days on the market,  which is a 14 day increase over homes that closed in January and it is just a 2 day increase over February 2007.  Keep in mind, the "days on market" statistic is based on homes that have sold and closed, and is not impacted by homes that are still for sale.  So that home that you drive by everyday, that you know has been for sale for months and months, is not factored into this statistic.

The list price to sale price ratio was considerably lower again in February 2008 as compared to February 2007.  It fell 1.69 basis points from the prior year and was .09 basis points higher than January 2008.  This list to sale price ratio of 95.19% is one of the strongest indicators of jus how much of a buyer’s market this really is.

Mortgage rates have climbed considerably.   Mortgage rates which were hovering around 5.49% for a thirty year fixed rate mortgage just weeks ago, are now  at 6.05% for the same thirty year fixed rate mortgage.  I had many people tell me that they were waiting for rates to go even lower when they were at 5.49%.  These people waited to buy or refinance and missed out on a great rate.  Will the rates return to these lower levels??  Only time will tell.  My guess is they may not get below 5.50%  again for quite some time.  If they do, I sure wouldn’t wait again!

As always I will continue to monitor these market numbers  for West Chester and Liberty Township Ohio and will share them as they become available.  Should you have particular questions about these numbers please let me know!

If you would like to learn the current market value of your home I would be happy to provide you with it.

Moving to West Chester, Liberty Township, Mason Or Cincinnati, Ohio?  Click here to receive our Relocation Packet, full of information and completely free, with no obligation!

I would love to hear your thoughts and comments!

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

Filed Under: Financing, Real Estate Information, Real Estate Market Statistics Tagged With: , , , , , , , , , ,

FHA Financing – Perfect For 1st Time Homebuyers

January 14, 2008 By

FHA Financing is back! 

Actually, it really never went away, but was certainly overtaken by the many loan programs that became such hot commodities the last few years.  Many of these loan programs were the subprime mortgages that we now hear so much about in the media.  And while most of these programs are now long gone, as are the lenders that made them, the FHA loan is now back in fashion.

Why is it such a good loan program for the first time homebuyer.  Among the many reasons are it’s low down payment requirement, it’s more lenient qualification guidelines and… the rates are so low right now that it is an incredible deal.

Here is a senario that I created today as an example:

Buyer buys a home for a purchase price of $150,000. 

Using the FHA loan, the rate as of today is 5.75% with just a 3.00% down payment. 

By the way, that 5.75% interest rate today was for 30 years, fixed rate.  (No adjustable rates with skyrocketing payments in a year or two). 

In this senario, the buyer’s monthly payment for principal and interest would be only $849.10!

This payment does not include property taxes and homeowners insurance, but what an opportunity to buy a home and stop paying rent with a truly low monthly payment.

And by the way, FHA loans are not just for 1st time homebuyers! 

If you would like more information on FHA loans or for that matter any other mortgage financing let me know and I will get you in touch with a top mortgage consultant.

More detailed information on FHA loans by clicking here

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