The Cincinnati Area Board of Realtors reported the following information today which is great news for homeowners in the Cincinnati area. Cincinnati saw double-digit increases in home sales last month, up nearly 19%. Local home sales in October totaled 1,646 units compared to 1,388 a year ago. … [Read more...]
Home Prices Rise Nationwide and Late Mortgage Paymnents Decline
There were two pieces of very encouraging news this week; home prices nation wide are on the rise, and there were fewer late mortgage payments being made. Prices rose by 2.5% in June from a year ago, and by 6% from the previous quarter according to the Wall Street Journal article. The quarterly jump … [Read more...]
New Mortgage Applications are Down to a 13 Year Low
Applications for primary home mortgages are down to level not seen since May 1997. The Mortgage Bankers Association, the trade group for mortgage bankers, is attributing this to the expiration of the federal tax credit and overall slow economic revival. The data points to the week ending May … [Read more...]
Its ok for Wall Street to Walk Away From a Mortgage so Why Not You?
When an investment corporation defaults, or walks away, from a property it is called a strategic default. When a home owner can no longer afford their mortgage they foreclose. Somehow there has been tremendous stigma placed on the homeowner that has to go into foreclosure, while large corporations … [Read more...]
Corporate Foreclosures and Individual Foreclosures
In recent weeks major real estate developers have been walking away from properties because like many home owners, they are underwater on their mortgages. Tishman Speyer Properties gave up the 56-building, 11,232-unit Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan, turning … [Read more...]
Cincinnati Realtors report Local Homes Sales up 33%
The Cincinnati Area Board of Realtors reports that local home sales are up by 33%compared to the same time period one year ago. This marks the sixth straight month of year over year increases and is a strong indicator that the housing market is in recovery. The above chard shows the monthly … [Read more...]
Case-Shiller Market report and our Cincinnati Real Estate Market
Yesterday the Case-Shiller home price index came out, and it had some positive numbers. The C-S index looks at 20 major metropolitan real estate markets and watches the change in home sale prices on a monthly basis. The index provides numbers that are normalized for the home prices in the first … [Read more...]
Numbers Do Not Lie Cincinnati Real Estate Market Is Recovering
The numbers tell the distinct tale that the Cincinnati real estate market is beginning a recovery. The latest information released about the geographic region that includes Hamilton, Butler, Warren, and Clermont counties shows a distinct improvement in the 2009 home sales activity over 2008. The … [Read more...]
