Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 106

Homeowner’s Net Worth is 45x Greater Than a Renter’s

by The Cincinnati Team

Homeowner’s Net Worth is 45x Greater Than a Renter’s

Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes article the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater.

The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

Comparison of net worth for renters and home owners

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Put Your Housing Cost to Work For You

Simply put, homeownership is a form of ‘forced savings’. Every time you pay your mortgage you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

Homearama returns to Cincinnati

by The Cincinnati Team

Homearama 2013 at Carriage Hill in Liberty Township  - July 13-28      

The natural beauty and privacy of Carriage Hill with its lakes, streams and woodlands is the reason this neighborhood was selected by the Home Builders Association as their site for Homearama.  It is the perfect location for luxury, estate living  The neighborhood features a variety of amenities for every aspect of your life.

Prices for this year's Homearama start at $700,000 and go up to $1.2 million. The location in the Lakota School District makes it a highly desirable.

Four builders, including Daniels Hicks Homes, Justin Doyle Homes, Jack H. Wieland Builders and W. V. DeStefana Homes are building a total of  eight homes.  Each home will provide you ideas for exciting upgrades for your own home and the chance to see the work of some of Cincinnati's most recognized builders.  Carriage Hill will be the perfect way for you to visit beautiful homes in beautiful surroundings.

 

April Housing Statistics

by The Cincinnati Team

CINCINNATI'S HOUSING MARKET IMPROVES

Kevin Kelly, Cincinnati Area Board of Realtors President, said "We continue to see home sales increasing and home prices continue to see positive momentum.  Fewer homes on the market and low interest rates continue to attract more buyers."

 

Closings for April were up 24% and the sale price is up 5.5%.  For the past 22 months, Cincinnati has seen increased sales.  The inventory of homes for sale has declined 15% over April a year ago.  This means that if priced correctly and in good condition, homes are likely to sell faster.

 

EXISTING-HOME SALES UP 9.7%

Existing-home sale activity is up 9.7 percent over the 4.53 million-unit level in April 2012, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops are currently on pace to reach 4.97 million annual units, up from 4.94 million in March.

Existing Home Sales By Region

NAR chief economist Lawrence Yun said the market is in full recovery. "The robust housing market recovery is occurring in spite of tight access to credit and limited inventory. Without these frictions, existing-home sales easily would be well above the 5-million unit pace," he said. "Buyer traffic is 31 percent stronger than a year ago, but sales are running only about 10 percent higher. It’s become quite clear that the only way to tame price growth to a manageable, healthy pace is higher levels of new home construction."

Current existing-home sales are at their highest pace since November 2009, when the home buyer tax credit was available. Total monthly sales have improved over their year-ago levels for 22 consecutive months, while prices have risen 14 consecutive months over their year-ago levels.

Cincinnati Named to Top of "15 U.S. Cities' Emerging Downtowns"

by The Cincinnati Team

Cincinnati's Emerging Downtown Drives Population Growth            

Forbes has placed Cincinnati on its list of "15 U.S. Cities' Emerging Downtowns."  According to their research, America's major metropolitan downtowns have welcomed double-digit population growth in the past decade.  Particularly attracted to these areas are college-educated young adults, ages 25-34, who desire urban lifestyles.  

Cincinnati officials point to an estimated $1.3 billion invested in projects currently under construction or in the planning stages, including the streetcar line, Washington Park, the Banks, and Horseshoe Casino. Downtown Cincinnati, Inc. reports that the population grew 12% in 2011.  Increasing numbers of apartments and condos continue to come available.

Ohio Home Sales for February, 2013

by The Cincinnati Team

Ohio Sales Activity Continues to Show Improvement       

The number of homes sold in Ohio jumped more than 10 percent in February, as the market posted gains in activity for the 20th consecutive month, according to the Ohio Association of Realtors. According to OAR President Thomas Williams, "Buyers are taking advantage of the ideal conditions prevalent in today's marketplace, with historic low interest rates and attractive pricing."

Additionally, inventory of homes for sale remains at all-time lows and the number of days on the market continues to shrink.  Locally, the number of listings is down -6.25% and the median list price is down -3.57%.

Citirama 2012 - September 8-16th

by The Cincinnati Team

 

Citirama 2012 - September 8-16                                                   

 
Citirama at Virginia Place - Northside, OHThe 11th annual Cintirama 2012 will be held in Northside this year.  This week-long display of homes is built in the city each year by members of the Home Builders Association of Greater Cincinnati.  The development, named Virginia Place, is at the corner of Virginia and Chase.
 
Buyers will be able to walk to the Northside Business District.  Total, there will be 35 single family homes and 6 neotraditional homes built.  The development is in the city of Cincinnati and children would go to Cincinnati Public Schools.
 
There will be 5 single-family homes on display, ranging in price from $200,000 - $300,000. Builders include: Brookstone Homes, Drees Homes, Maronda Homes,and Potterhill Homes.
 
The show is open daily, Mon-Thurs, 4-9pm and Fri-Sun, 12-9pmAdmission is $8 for adults, but tickets can be obtained for $6 at Krogers.

Drought Can Cause Foundation Cracks in Cincinnati Homes

by The Cincinnati Team

 

WATCH FOR FOUNDATION CRACKS WITH DROUGHT                                

No doubt, it has been a dry summer! In dry weather, all homes experience some seasonal movement.  Foundation and brick cracks will widen during dry weather.  Additionally, you will start to see interior wall and ceiling cracks.

When settlement cracks develop, different portions of the foundation can settle at different rates.  This can cause the collapse of underground plumbing and downspout piping.  These pipes can then leak along the foundation.

Foundation cracks in clay soil - Cincinnati

​According to Michael Montgomery with the Buyer's Protection Group, watering along the foundation may prevent settlement and control movement during dry weather.  Owners with sump pumps may unplug the pump to allow some moisture to remain under the foundation.  Just remember to immediately plug it back in when you get some rain.

 

​If you have significant cracks that emerge, check with a licensed structural engineer for drawings on how the repair should be done. 

Walker Homes Brings the Dennison to Cincinnati's Homearama 2012

by The Cincinnati Team

Walker Homes Brings the Dennison to Cincinnati's Homearama 2012

Walker Homes - cincinnati's Homearama 2012​Walker Homes' entry into Homearama uses a cutting edge design for today's modern living.  Built in honor of his late father, Dennis Walker, Brent Walker has entered the housing industry like a whirlwind and received wide acceptance.

​The home has a large, open great room that connects to the kitchen with double island and family dining area.  You'll love the fist floor master suite complete with his and her master baths and closets.  There are two more bedrooms on the second floor and a fourth in the lower level.  Each bedroom has its own private bath and walk-in closet.

​If you are a golf lover, the lower level of the Dennison is made just for you.  The golf simulator is only part of the fun which includes a bar, and media area as well.

​At 6459 sq ft., the Dennison's floorplan satisfies every customer's needs and desires.  It is being offered to the market at $899,900.

​Walker Homes won many awards in Homearama.  They include: 2nd place for Favorite Home, 2nd place for Favorite E​xterior, 1st place for Favorite Family Room/Great Room, 1st place for Favorite Kitchen, 1st Place for Favorite Hearth Room/Breakfast Nook, 2nd place for Favorite Dining Room, 1st place for Favorite Master Bedroom, 1st place for Favorite Master Bedroom, 2nd place for Favorite Lower Level, and 2nd Place for Favorite Floor Plan.  Wow, need we say more?  Obviously, it was a standout!

​Brent Walker, owner of Walker Homes, 513-480-4247,  grew up in homebuilding.  He launched his business in 2010 to help meet the demand for quality, custom homes that meet his customer's needs, wants and budget.

​Kenneth R. Bowerman Architect, Inc, 513-677-1415 also designed the Walker Home.  Kenneth Bowerman and Darren Myers bring extensive skills to the residential design project.  They have participated in Homearama 28 times.  They are the recipients of numerous design awards.

Rick Faust Landscape, 937-456-3933, has been in the business for 35 years.  Rick also grew up in the business, both his father and grandfather were landscapers. He constantly seeks fresh new ideas, quality nursery stock for his customers.

Homearama is open through June 24th , Monday-Thursday 4-10pm and Friday-Sunday, noon-10pm.

Walker Homes - Cincinnati's Homearama 2012Walker Homes - Cincinnati's Homearama 2012

 

 

 

 

 

 

 

Walker Homes - Cincinnati's Homearama 2012Walker Homes - Cincinnati's Homearama 2012

 

 

 

 

 

 

Walker Homes - Cincinnati's Homearama 2012Walker Homes - Cincinnati's Homearama 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For more information, see: Have You Been to Cincinnati's Homearama 2012?

Artisan Estate Homes, LLC Builds in Cincinnati's Homearama 2012

Justin Doyle Homes Builds the Medinah for Cincinnati's Homearama 2012

Grand Estate Custom by Fischer Enters the Wheatland in Cincinnati's Homearama 2012

Hal Homes Presents the Chelsea at Cincinnati's Homearama 2012

Potterhill Homes' Zero Energy Home at Cincinnati's Homearama 2012


 

 

 

 

Potterhill Homes' Zero Energy Home at Cincinnati's Homearama 2012

by The Cincinnati Team

Potterhill Homes' Zero Energy Home at Cincinnati's Homearama 2012Cincinnati Homearama - Potterhill Homes

​Wow! A Zero Energy Home is featured by Potterhill Homes in this year's Homearama.  Can you imagine being able to sell energy back to the system rather than paying for it each year?  The owners will put thousands of dollars back in their pocket in savings from energy bills they DO Not have to pay.

​How do they do this?  Many features add up to the ability to call a house a zero energy home. Extras such as smart framing with 2 X 6 walls, structural inulated sheathing, blown insulation, high efficiency heating and cooling systems, a 5-kilowatt solar panel system and a GE Neucleus energy management system.  

​Potterhill Homes was awarded 1st place for Favorite Landscaping, 2nd place for Favorite Study/Office/Library, and 2nd place for Favorite Decorating

All this and a charming craftsman-like exterior.  The home is 5,000 Sq ft. and is available for purchase for $768,800.

​Carolyn and Dan Rolfes, a father-daughter team, are known for their devotion to sustainability.  They focus their building process on keeping energy costs down, reducing waste during construction and inproving indoor air quality.  Few builders have sold construction combined with ecological responsibility.

​Architectural design was done by Mike Shrader of Palladian Home Designs, 317-852-6483. Founded in 1997, Palladian is a full service company specializing in custom residential designs .  They work daily with customers looking for innovative homes.

​Karen Sacksteder of Sacksteder's Interiors, 513-791-5022, returns for her tenth consecutive Homearama.  Her entrepreneurial spirit has maintained her business for 27 years.  She is hoping that her entry with Portterhill will again win a People's Choice Award.

Ron Richter Landscaping - Cincinnati Homearama​Rob Richter, 513-539-0300, has done two landscapes for Homearama 2012.  Ron Richter Landscaping, Inc has worked on 20 Homearamas.  His family-owned business was started in 1970.  As you can imagine, his horticulture degree comes in handy, daily, in his work.

Homearama is open through June 24th , Monday-Thursday 4-10pm and Friday-Sunday, noon-10pm.

Potterhill Homes - Ciincinnati Homearama

 

 

 

 

 

 

 

 

 

 

Potterhill Homes - Cincinnati HomearamaPotterhill Homes - Cincinnati Homearama

 

 

 

 

 

 

 

 

Potterhill Homespotterhill Homes - Cincinnati Homearama

 

 

 

 

 

Potterhill Homes - Cincinnati HomearamaPotterhill Homes - Cincinnati Homearama

 

 

 

 

 

​For more information, see: Have You Been to Cincinnati's Homearama 2012?  

​Artisan Estate Homes, LLC Builds in Cincinnati's Homearama 2012

Justin Doyle Homes Builds the Medinah for Cincinnati's Homearama 2012

Grand Estate Custom by Fischer Enters the Wheatland in Cincinnati's Homearama 2012

Hal Homes Presents the Chelsea at Cincinnati's Homearama 2012

Walker Homes Brings the Dennison to Cincinnati's Homearama 2012

 

Hal Homes Presents the Chelsea at Cincinnati's Homearama 2012

by The Cincinnati Team

Hal Homes Presents the Chelsea at Cincinnati's Homearama 2012

​The Chelsea's floorplan is described as an elegant, transitional home by Hal Homes. Hal Homes - Cincinnati's Homearama 2012 When looking at it from the exterior, you will notice stunning roof lines, a slate-style roof, and the combination of brick and stone enhancing the curb appeal.  It has a first floor master suite featuring a double tray ceiling and a sitting room.

​The gourmet kitchen and breakfast area flow into the hearth room with its stone fireplace and custom built-ins.  The study has a wood beam ceiling and additional built-ins.  These highlight the custom craftsmanship typical of Hal Homes.

​The lower level has a wet bar, wine cellar, media area, recreation area, exercise room and a bedroom and full bath.  Outdoors, the family will enjoy the screened porch, oversized deck and firepit.

​The Chelsea is 6396 sq ft.  Its base price was $1 million.  It is sold.

Hal Silverman of Hal Homes, Inc, has been building in  high quality communities since 1977.  Over the years, they have build over 1000 homes. Their philosophy is summed up by their tag line, "Quality Homes with a Personal Touch."  They pride themselves in their attention to detail and quality service.  Hal has been honored as the 2001 Blue Ash / Montgomery Rotary Club Entrepreneur of the Year.  He is also the developer of Homearama 2012's Willow Bend subdivision.

​This year, Hal Homes received 2nd place for Favorite Kitchen, 2nd place for Favorite Hearth Room/Breakfast Room, 1st place for Favorite Lower Level, 1st place for Favorite Study/Office/Library, 1st place for Favorite Decorating and 2nd place for Favorite Outdoor Living.

​Kenneth R. Bowerman Architect, Inc provided the architectural services for the Chelsea.  Kenneth Bowerman and Darren Myers both have received many awards for design competitions.  They have been in the architectural business since 1983.

Interiors by Nancy Paul and Julie Bell, 513-794-0300, designed the interiors for the home.  After participating in Homearama for 30 years, they know how to put the design together for a homeowner and deliver it on time.  They are known for their outstanding home presentation each year!

Hal Homes - Cincinnati Homearama 2012David Hafner of Hafner Landscape worked on the exterior for the home.  He has worked in the industry for 27 years.  The company is known for outstanding workmanship with hardscape and natural stone.

​Homearama is open through June 24th , Monday-Thursday 4-10pm and Friday-Sunday, noon-10pm.

 

Hal Homes - Cincinnati's Homearama 2012Hal Homes - cincinnati's Homearama 2012

 

 

 

 

 

 

Hal Homes - Cincinnati's Homearama 2012Hal Homes - Cincinnati's Homearama 2012

 

 

 

 

 

 

Hal Homes - Cincinnati's Homearama 2012Hal Homes - Cincinnati's Homearama 2012

 

 

 

 

 

 

Hal Homes - Cincinnati's Homearama 2012Hal Homes - Cincinnati's Homearama 2012

 

 

 

 

 

 

 

 

​For more information, see: Have You Been to Cincinnati's Homearama 2012? 

​Artisan Estate Homes, LLC Builds in Cincinnati's Homearama 2012

Justin Doyle Homes Builds the Medinah for Cincinnati's Homearama 2012

Grand Estate Custom by Fischer Enters the Wheatland in Cincinnati's Homearama 2012

Potterhill Homes' Zero Energy Home at Cincinnati's Homearama 2012

Walker Homes Brings the Dennison to Cincinnati's Homearama 2012 ​ 

Displaying blog entries 1-10 of 106

Syndication

Categories

Archives

                Preferred Group                                                Last modified: 8/28/17