Greater Cincinnati Luxury Market Update – Multiple Listing Service Stats

Stalled Luxury Home Sales

A few months ago I gave you information about the upscale housing market in the Greater Cincinnati area.  Those areas included Butler, Warren, Hamilton and Clermont counties.  We discussed the Jumbo Mortgage Market, and how tight control on the interest rates for the luxury home market may be slowing the housing market, at the “grass roots” level.

I just put together an update with closed sales stats through November 15, 2009.  I thought you might like an update. Read more

Adventures in Home Selling

Often when I’m out showing homes, there’s a “theme” to the tour. There was the “orange paint” tour, where about every other home in the $250,000 – $350,000 price point in the Bridgetown and Delhi Township areas had an orange colored area. Kitchens, finished basement, offices. There was the “didn’t they know we were coming?” tour in the Maineville and Hamilton Township area, just under $200,000, where every third house was a mess. Dishes in the sink, toys, clutter, unmade beds.  Yikes. Then there was the sticky lock tour where yours truly struggled with every old tumbler that made me look like I had never opened a front door before to my new buyers in the Hyde Park, Mt Lookout area. My “whiz bang” knowledge of the real estate market secured their business, in spite of the fact it appeared that I could barely manage opening a door. Read more

Absorption Rate: What is it? How do I use it?

In the past, we would talk about “Days on Market” when counseling sellers, and discussing how long they might expect to have their home on the market, before receiving an offer to purchase. “Days on Market” was an easy number for your agent to find.  A couple of clicks in the Multiple Listing Service, and we could have DOM pretty quickly.  About 2005 we noticed a “shift in the wind”. Read more