Article originally posted January 5^th, 2010.

Happy New Year everyone!

There continues to be good news for potential buyers out there in the New Year.  Many Cincinnati neighborhoods are continuing to trending towards a “buyers market.” This means supply and demand often favors buyers getting better deals.  From reviewing past history and seeing market conditions first hand, I predict many of these neighborhoods will slowly shift towards a more neutral ground between buyers and sellers. With the continuation of low interest rates (they won’t last forever) and the federal tax credits for first time home buyers or those moving up (see previous blog post for details), now is the time to buy.

Attached via the link below are Market Statistical Reports detailing last week’s activity for several east side neighborhoods including Hyde Park, Norwood, Oakley, Mt. Lookout, Anderson Twp and Downtown.  Take a look and see for yourself why now is a great time to buy!

Neighborhood Reports

Attached below are weekly Market Activity Reports for several Cincinnati neighborhoods from the week ending December 13th 2009. I would be happy to email you more detailed information/full reports if you are interested. They are Adobe .pdf files and I also have them for Mt. Lookout, Mt. Washington/Anderson twp, and Pleasant Ridge.  If you would like to request the full reports please email me at Rusty@RustyTodd.com

Hyde Park Oakley Norwood Downtown/Mt. Adams (45202) Reports

Did you know that you no longer have to tune into cable channel 64 to view the Comey & Shepherd Home Show?  Our newly redesigned web page at http://www.comey.com features the home show at the bottom right portion of your screen.  Now you can preview videos of homes at your convenience.

Downtown, Mt. Adams & the Rest of Zip Code 45202

Hyde Park & Zip Code 45208

Oakley & Zip Code 45209

Mt. Lookout & Zip Code 45226

Pleasant Ridge & Zip Code 45213

Norwood & Zip Code 45212

Part of Anderson Twp and Mt. Washington –  Zip Code 45230

Comey & Shepherd Realtors released our freshly updated website today.  Please check out http://www.Comey.com and let me know your thoughts.  The new page is much more streamlined than our previous page, which makes searching for homes a breeze.  Stop by and be sure to check out our video home tours.

Have you been sitting on the fence during the last few years of real estate woes?  It may just be time for you to change your attitude towards Cincinnati real estate.  While the bottom may not have hit in all Cincinnati neighborhoods, I personally believe it has bottomed out or is close to bottoming out in quite a few communities.  Neighborhoods such as Hyde Park, Oakley, and the Mt. Washington/Anderson areas are showing decreasing inventory levels and are at price points we have not seen since the late 1990’s/early 2000’s.  Here are some great reasons why now is the time to take advantage of the current market:

1. Prices of nearly a decade ago.
2. Interest rates hovering near the 5% mark.
3. Potential tax credits of $8000 for first time home buyers
4. Potential tax credits of $6500 for move up buyers. (must have spent 5 yrs living in your home).
5. Time of year. Fall is usually one of the slower times of year in Real Estate.  This typically presents opportunities for buyers as sellers may be more willing to negotiate.

If you are planning on spending a few years in your new home, now may be the perfect time to buy.  We may never see interest rates at current levels coupled with significant tax credits again.

Contact me to discuss further details or activity in specific neighborhoods.  Remember… tax credits are only available thru April 30^th, 2010.

For more information on government tax credits please visit: http://tinyurl.com/ykkray5

*Information provided from data gathered from the Cincinnati MLS

The Median list price in Hyde Park this week is $329,900

Inventory has been lightening lately and the Market Action Index has been trending up.  Though days-on-market is increasing, these are mildly positive indications for the market.

The Median list price in Norwood this week is $114,000.

Inventory is tightening and days-on-market is falling.  The Market Action Index shows demand heating up.  These are relatively bullish signs for prices.

The Median list price in Norwood this week is $114,900.

Inventory is tightening and days-on-market is falling.  The Market Action Index shows demand heating up.  These are relatively bullish signs for prices.

This week the median list price for Oakley is $189,900.

Inventory is tightening and days-on-market is falling.  The Market Action Index shows demand heating up.  These are relatively bullish signs for prices.