Once again Cincinnati has been rated by Central Connecticut State University as a highly literate city.  The ninth place ranking is attributable to the combination of local library resources, number of bookstores, Internet resources and educational attainment.  The study speculates that the combination of Fortune 500 companies, the thriving arts community and density of colleges and universities and hospitals all create a core population that values books and the written word.

Did you know that Cincinnati is tied for third nationally for the number of booksellers per 10,000 residents?  Plus, the Hamilton county voters showed their belief in the value of books when they supported the tax levy to maintain services at the Public Library of Cincinnati and Hamilton county. Both of these statistics add to Cincinnati's clout.

Seattle, Washington, D.C., Minneapolis and Boston all ranked ahead of Cincinnati.

Billing itself as the place to spend time with your family, the home-style atmosphere at the Cincinnati Family Enrichment Center helps everyone relax from their busy lifestyles.  In their old, Northside mansion, there are multiple classes for all ages and even informal Friday night get togethers.  The Cincinnati Family Enrichment Center has classes for infants (Tummy Time, Baby Yoga, Time Out Together, Jammin' in our Jammies), for families (interactive story time, Wiggle Worms, Spanish for the family), and for parents (Mom encouragement, pregnancy celebration).   Wellness classes include pediatric massage, CranioSacral therapy, baby reflexology and pampering of Mom.  Winter is a great time to experience these indoor activities.

The Best of Cincinnati named them the Best Place for Families!

The Cincinnati Multiple Listing Service recently decided to enforce locations noted in listings of homes in various neighborhoods.

The MLS uses the CAGIS system (http://cagis.hamilton-co.org) as a source for the neighborhoods of the City of Cincinnati.  From now on, MLS will review all listings and verify that the area location placed in the Multiple Listing Service information corresponds with the CAGIS System.

You can expect that properties affected most by this change in policy will be those close to the border of various neighboerhoods.  Prior to CAGIS, there was no source of accurate neighborhood lines.  Authorization follows census tract data and community councils and city planning guidelines.

MLS verifies that the suburb code entered for a Cincinnati neighborhood is correct.  Recently, I have seen changes in the locations for several Hyde Park neighborhoods, changing them to Oakley.  For instance, Broadview and Country Club have long been considered Hyde Park streets as has the condo developments off Ashworth.  Aparently the CAGIS maps shows them in Oakley, so they are being changed.

This will affect average and median prices in both Hyde Park and Oakley.  So, is MLS going back and changing all these listings back in history as well?  No one knows for sure.

Do you live on a street affected by these changes?  Maybe you know the exact line between Hyde Park and Oakley, or between Hyde Park and Mt. Lookout, or between Mt. Lookout or Hyde Park.  Do you even know if your street could be considered part of another neighborhood? 

Special Community Meeting

Thursday, Feb. 18

Review and Discuss Traffic Lane Changes

 in Hyde Park

Hazardous or Helpful?

WHAT: Special community meeting about the traffic lane changes on:

• Erie Avenue, between Zumstein and Madison

• Observatory, near Madison 

• Dana, from Madison to I-71

• The intersection of Erie and Delta

Meet with representatives from the City of Cincinnati Traffic Engineering Department. Ask questions, raise concerns, share suggestions and express your opinions about the recent changes. This is your chance to be heard!

WHEN: Thursday, Feb. 18 at 7 p.m.

WHERE: Knox Church (corner of Observatory and Michigan Aves.)

Common Room  (enter from parking lot on Observatory Ave.)

Let your voice be heard! We hope you will attend.

So, everyone says you should be careful to maintain high credit scores.  So, the loan officer says you can only get the best mortgage interest rates if your credit score is over 720.  So you wonder just how much you will get dinged if you do any of the "no, no's" of credit management.

MSN Money says that the following negative information will affect you credit score by...

Effect on a 680 score      Effect on a 780 score

Maxed out credit card            -10 to -30                     -25 to -45

30 day late payment              -60 to -80                     -90 to -100

Debt settlement                    -45 to -65                      -105 to -125

Foreclosure                          -85 to -105                     -140 to -160

Bankruptcy                          -130 to -150                    -220 to -240

 Banish the Winter Blues - Get Outside                    

 Hamilton County Park District is offering a series of winter hikes and activities designed to banish the winter blues and get you out in the brisk air. 

February 12 - Glenwood Gardens - 5:30 PM

Enjoy the Sunset.  Bring your favorite cup and they will fill it with hot chocolate.

February 13 - Winton Woods Center - 10 AM

Hike three miles for a cardio workout

February 13 - Withrow Nature Preserve - 2 PM

Hike the area and search for early Spring wildflowers

February 13 - Winton Woods - 7 PM

Glow-In-The-Dark Hike...a wallk in the woos in the dark of night to encounter "glowing trees."

February 14 - Sharon Woods - 2 PM

Hike For Your Heart...Celebrate Valentine’s Day with a short or long hike. Afterwards, we will enjoy warm refreshments as we learn some tips on how to keep our hearts healthy.

February 20 - Woodland Mound Seasongood Trailhead - 2 PM

See how plants and animals are gearing up for Spring

February 21 - Mitchell Memorial Forest Wood Duck Trail - 1 PM

Walk through the woods and learn about maple sugaring at the same time.

February 28 - Miami Whitewater Forest - 10 AM

Maple Sugar Hike with brunch following. $5 with reservations

February 28 - Winton Woods Great Oaks Trail - 9 AM

Cabin Fever Hike - get out and enjoy the winter weather

February 28 - Mitchell Memorial Forest - 2 PM

3.9 mile hike on one of the Parks newest trails.

As part of the budget proposal of President Obama, changes were suggested to the Mortgage Interest Tax Deduction.  While this change only effects families earning over $250,000, it could be the first step towards the total elimination of one of the primary benefits of home ownership. 

While the Mortgage Interest Tax Deduction was not targeted directly, the suggestion was that the rate of all itemized deductions for couples or families over the $250,000 ($200,000 for individuals) earning limit.

The National Association of Realtors claims enactment of this proposal will set off a new round of price depreciation, creating a new housing crisis.  I'm not qualified to argue the merits of that claim, but I do know that it is considered one of the primary benefits of home ownership by our first time buyers.

Buyers cite the Mortgage Interest Tax Deduction as one of the reasons that it makes sense to buy instead of rent.  Since first time buyers make up 43% of the homes sold in 2009, maybe we should be paying attention.

All homeowners have become reliant upon the tax deduction.  Perhaps the government can figure out other ways to raise the taxes they need instead of concentrating on homeowners.  They are already the ones targeted by local property and school taxes and even pay a sales tax when a property closes.

Home Buyer Tax Credit is Powerful Stimulus to Home Sales…Should you take advantage of the Government Offer?

The Stimulus Program extended as of December 1, 2009 into this Spring is a powerful incentive to purchasing a home…good whether you are purchasing your first home or actually for any home under $800,000!  If you have never owned a home, need more space than your current home provides, want to downsize or reduce your payments or even want to help your children get a leg up in the home market…NOW IS THE TIME TO ACT.

Why?  It isn’t just a tax credit…it means that even if you don’t owe any taxes, you will receive the full credit.  Other reasons include:
• the availability of historically low interest rates,
• loans that require as little as 3.5% down payment,
• ability to use the tax credit for part of your money down and
• reduced home prices.

Details for First Time Purchasers

First Time Buyers will receive up to $8,000 ($4,000 if married and filing separately).  The credit cannot exceed 10% or the purchase price of the home.  When Congress approved the extension of the incentive, they increased the income limits to $125,000 if single and $225,000 if married.  If you earn as much as $20,000 more than that, there is a phase out of the benefit.

You are considered a first time homebuyer if you haven’t owned a principal residence in the United States in the last three years.

The contract must be negotiated and in effect on April 30, 2010 and closed by June 30, 2010.  Some additional details include: purchases by dependents are ineligible.  Surprisingly, if you co-sign a mortgage to help your non-dependent child buy his of her first home, your eligibility status does not affect your child’s ability to qualify for the credit.  The tax credit money never has to be repaid as long as you live in your home for at least three years.  There are programs that will advance the credit to help with your down payment.  The home price cannot exceed $800,000.

You can claim the credit when you file your 2009 or 2010 tax returns, so it makes sense to consult your tax preparer to determine which alternative may benefit you most. Purchasers must attach documentation of the purchase to their tax return in order to prevent fraud.

Details for the Repeat Homeowners Credit

Are you a current or former homeowner who is considering a home that better meets your needs?

The amount of the credit is $6,500.  Current homeowners must have used the home sold, or being sold, as a principal residence consecutively for 5 of the previous 8 years.  Only a home purchased after December 1, 2009 qualifies for the credit.  The credit amounts to 10% of the purchase price, up to the $6,500 allowed.

If you currently own your principal residence, you don’t have to sell it – but you do have to move into the home you buy.  Your home can cost more or less than your previous home; it doesn’t matter.

The income limits of $125,000 if single and $225,000 if married are the same as for the first time buyer credit.  You can also get some credit payout, even if you earn as much as $20,000 more.

Again the contract must be negotiated by April 20, 2010 and closed by June 20, 2010 and need not be repaid, if you live in the new home for at least three years.

Little known facts include: even if you don’t owe taxes, you can receive the full credit.  The tax credit can be claimed on either your 2009 or 2010 filing of your tax return.

How can the Cincinnati Team Help?

Saralou Durham and Mary Elsener have over 30 years of experience in the real estate business. It is important to us to find a home that meets your needs and goals, if the time is right for your purchase.  You can count on us to be honest about the process, to educate you on conditions affecting your sale and to make sure you understand the buying and selling process.  Call Saralou (513-646-4819) or Mary (513-646-4819) for help getting your tax credit.

The time to act is now, before this tax credit stimulus program is G-O-N-E in 2010.  It is unlikely to be extended again as proof mounts that the economy is improving.

The New Year is upon us and demand for homes is already showing up, especially in the lower, first-time buyer market.  Expectations are that the resell market will also see a benefit from the Federal Government Tax Stimulus.

Numbers for Anderson Township and Newtown in the Forest Hills School District are in for January.  The average of the 23 homes closed this month was $288,980, median was $267,000.  The average price for January greatly exceeds the years from 2005-2009, so you can expect that as additional sales occur, prices for the year will moderate considerably.  The average home was on the market for 113 days.  There are currently 320 homes on the market and 61 pending homes.  

There is approximately 8 months of inventory available. A balanced market is considered to be 6 months of inventory.

February appears to be starting strong.  The Cincinnati Team's phones have started ringing with buyers asking questions about homes on the market in the Cincinnati area.  They are already out driving neighborhoods.  You can expect that it will be several more months before the tire-kickers move on to serious looking and accepted contracts. 

We expect the actual home sales of homes to kick into high gear as the April 30 drop dead date approaches for having a contract in place (to receive the $8000 or $6500 tax credit).

The New Year is upon us and demand for homes is already showing up, especially in the lower, first-time buyer market.  Expectations are that the resell market will also see a benefit from the Federal Government Tax Stimulus.

Numbers for the Mt. Adams neighborhood in Cincinnati, Ohio are in for January.  The average of the 3 homes closed this month was $325,000, median was also $325,000.  The average price for January greatly exceeds the years from 2005-2009, so you can expect that as additional sales occur, prices for the year will moderate considerably.  The average home was on the market for 158 days.  There are currently 40 homes on the market and 1 pending home.  

There is approximately 35 months of inventory available. A balanced market is considered to be 6 months of inventory.  Based upon that, price decreases are likely to occur.

February appears to be starting strong.  The Cincinnati Team's phones have started ringing with buyers asking questions about homes on the market in the Cincinnati area.  They are already out driving neighborhoods.  You can expect that it will be several more months before the tire-kickers move on to serious looking and accepted contracts. 

We expect the actual home sales of homes to kick into high gear as the April 30 drop dead date approaches for having a contract in place (to receive the $8000 or $6500 tax credit).