Your Home Newsletter - November 2012

November 2012

 A Note From Mike

I hope everyone had a wonderful Thanksgiving.

 

The news on the housing front is certainly something to be thankful for. All indications show the housing market slowly, but steadily recovering. In Northern Kentucky and Cincinnati home prices are up over last year almost three percent, and units sold are almost 15% ahead of 2011.

 

Northern Kentucky is currently riding a 16 month streak of increased monthly unit sales over the corresponding month the previous year, and very close to passing the total for all of 2011.

Even with the upswing in home prices, it remains a great time to buy, with historically low interest rates. If you have questions about the market, or your neighborhood or home in particular, please feel free to contact me.

 

Till next time “MERRY CHRISTMAS!”

 

Office Depot Discount Card

As a member of the Northern Kentucky Association of Realtors® , I am pleased to be able to offer you a discount card to Office Depot.  Click on the link below, and print out the card and terms of service.  If you take the card into the store before December 31, they will laminate it for you for free.  This card entitles you to significant discounts on some products in the store as well as copying, binding, folding, and cutting.  Enjoy!

 

Discount Card Link

 

Season Pass

 

The weather may not be as chilly in California or Florida as it is here in Greater Cincinnati, but getting your home ready for a new season is still a  good idea no matter where you live.  Put  these “winterizing” tips from MSN Real Estate on your to-do list.


Clean your gutters. Autumn leaves are pretty, but once they fall, they can reveal their ugly side — by contributing to clogged gutters. Neglecting your gutters can eventually cause water to seep into your home. Rid gutters of leaves and other debris by hand (be sure to wear thick gloves) or with a scraper and rinse with a powerful hose to ensure proper drainage.

Plug leaks. Avoid leaks from rain or snowstorms with a simple maneuver. On a windy day, walk around the inside of your home with a lit incense stick or candle and hold it near commonly drafty areas — windows, door frames, electrical outlets — and apply caulk or other sealants to gaps. For more protection against the elements, install storm windows or buy a window insulator kit  about $5 per window) for a cheaper fix.

 

Bundle up. Insulation, no matter where you live, is a necessity. Experts say that regardless of where you call home, attics should contain a minimum of 12 inches of insulation. Ensure that your insulation is adequate to help you avoid wasted money in heating or energy bills.

 

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

October 2011

October 2012

% change

Residences sold

359

390

8.64%

Average price

$141,211

$146,909

4.04%

Median Price

$131,000

$125,250

-4.39%

Average days on market

104

98

 

Year to Date 2011

Year to Date 2012

% change

Residences sold

3,592

4,140

15.26%

Average price

$146,979

$151,142

2.83%

Median Price

$127,074

$127,500

0.34%

Average days on market

100

95

 

Cincinnati

October 2011

October 2012

% change

Residences sold

1393

1654

18.7%

Average price

$143,395

$152,126

  6.1%

Median Price

$112,000

$124,450

11.0%

Average days on market

85

80

 

Year to Date 2011

Year To Date 2012

% change

Residences sold

14,337

16,081

12.1%

Average price

$152,713

$156,776

  2.1%

Median Price

$119,000

$124,600

  4.7%

Average days on market

86

80

 

 

Bathing Beauty

The bathroom. Big or small, it’s one of the rooms in your house that gets a lot of attention — from you, your family and friends, and potential buyers. And as one of the most popular rooms in the house, it deserves an update every now and again. Even if renovations aren’t in your plans, there are some easy ways to update it on a budget. The key is to revamp focal points, such as mirrors or rugs, and then focus on unique additions. Consider these tips from Apartment Therapy.

 

Start by replacing the mirror — a bathroom staple — with a more contemporary shape and style. For big impact with minimal effort, reduce clutter on the bathroom counters by repurposing mason jars from the kitchen to hold makeup brushes and pencils, small combs or extra toothbrushes, and store makeup or other odds and ends in stylish mini baskets or ceramic pots. To refresh the counter without replacing it, change out the fixtures and accessories like the soap dispenser and towel rack.

 

Pull together the entire bathroom with complementary or matching hues for bathroom essentials such as towels, washcloths and a shower curtain, or stencil an easy, colorful border around the mirror or ceiling for an added pop of color. Treat your bathroom like any other room in the house. Use framed postcards, vacation photos or pressed flowers to create inexpensive artwork to deck the walls. Consider repurposing other household items to give the bathroom a welcoming vibe, such as wine racks for rolled up towels.

 

Did You Know?

The U.S. delivers more than 15 billion cards and packages between Thanksgiving and Christmas Eve.

 

National Association of Home Builders Reports That Housing Affordability Inches Higher in 3rd Quarter

While home prices are creeping higher across the country, low mortgage rates are helping to keep affordability conditions favorable in housing, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

About 74 percent of all homes sold during the third quarter were affordable to median income families in the U.S. making $65,000, according to the HOI. In the second quarter, the percentage stood at 73.8 percent.

"The latest housing affordability data is good news on two fronts, because it shows that the share of homes affordable to median-income earners has risen even as home prices have continued to gradually recover from their recession lows," says NAHB Chairman Barry Rutenberg. "This is primarily due to the fact that mortgage rates are now lower than we've seen them since the HOI was initiated more than a decade ago.”

The median price of all new and existing homes sold in the third quarter was $189,000, according to the HOI. A year ago, the median price was $176,000.

The 5 Most Affordable Housing Markets

According to the HOI for the third quarter, the following housing markets are the most affordable:

  1. Ogden-Clearfield, Utah (93.2 percent of all new and existing homes there are affordable to families earning the area’s median income of $71,500)
  2. Youngstown-Warren-Boardman, Ohio-Pa.
  3. Indianapolis-Carmel, Ind.
  4. Lakeland-Winter Haven, Fla.
  5. Toledo, Ohio

As for the least affordable housing markets?

New York-White Plains-Wayne, N.Y.-N.J. continues to retain its title as priciest housing market in the country for the 18th consecutive quarter. About 28 percent of the homes sold there are affordable to families earning the area’s median income of $68,300.

Source: National Association of Home Builders

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