August 2014 Your Home Newsletter

Top 5 Reasons To Buy a House Now


Buying a house is a highly individual decision—and a local one—but current trends are creating a favorable situation for many would-be homeowners.

Interest rates are low, employment is rising, home prices—in most markets—are still well below their peaks, and rents are through the roof.

Every family and each individual has various factors affecting the ability and the decision to buy a home. If you live in a market where studio apartments are $2,400 per month—while nearby condos sell for $300,000—it might make sense to buy a house instead. Read More


Area Home Sales Statistics for Northern Kentucky and Greater Cincinnati

If you would like more information about sales in your specific community, send me an email at mikebeckerhomes@fuse.net and let me know how I can help you.

Northern Kentucky 

The Northern Kentucky Association of REALTORS® and the Northern Kentucky Multiple Listing Service report that home sales in the area are on an even pace with 2013 sales, when the number of homes sold was the highest in six years. Home sales in July (582) were slightly off from July 2013 (607) but, for the year to date, we are at an even pace to meet or exceed those 2013 sale numbers. 

Homes are selling faster than they were a year ago. In July, NKY homes closed on average in 67 days, the lowest number of days from listing to closing since July 2006-8 years ago. In July, 47.8% of homes were sold in their first 30 days on market. And, the Average Sale Price to List Price percentage for those properties was 97.78%, a clear indication that market ready homes, priced right, will move fast.
  
                                    July 2013         July 2014         % change
Residences sold             607                 582                    -4.12%
Average price                     $160,231         $160,485             0.16%
Median Price                     $137,000         $139,900               2.12%
Average days on market      76                 67
                                            YTD 2013         YTD 2014         % change
Residences sold             3,373                 3,396          0.68%
Average price                     $155,429         $153,845         -1.02%
Median Price                     $135,000         $133,975         0.76%
Average days on market     87                         81

Cincinnati
                                July 2013                 July 2014         % change
Residences sold 2361                     2321                   -0.02%    
Average price $178,721                   $186,343             4.0%
Median Price $143,000                   $149,000             4.3%
Average days on market 58                            58
                                        YTD 2013             YTD 2014         % change
Residences sold 13,192                   13,099                 -1.4%
Average price $166,826                $173,776              -4.1%
Median Price $133,000                $135,000              -0.07%
Average days on market 70                          65

Full disclosure: What you need to tell buyers about your home

Whether you have owned your home for a few years or a few decades, you know its quirks, best features and flaws. When you morph from homeowner to home seller you need to be aware that your experience with your home is something you may have to share with potential buyers.

Most buyers opt to have a home inspection before they finalize their purchase, but you as the seller must also follow state and federal regulations regarding disclosure of known facts about your property’s condition.

As a seller you may feel uncomfortable revealing problems in your home that could discourage potential buyers, but it’s best to be open about issues before your home goes under contract. Read More