If you want to educate yourself about the issue and see the presentation that will be used at the Oakley Community Council meeting, it has been upladed to You Tube in two parts because it is over the 10 minute length limit.  The maps and information are very interesting.

Plan to attend the meeting at Oakley Community Center (in Hyde Park Plaza) on August 3rd at 6PM.  Sounds like at least Channel 19 will be there in case there are fireworks.

So what's the beef?  In the Fall of 2009, the Multiple Listing Service of Cincinnati began classifying most streets in Hyde Park East as being located in Oakley.  Hyde Park Neighborhood Council had always considered the area as part of Hyde Park and for 40 years, the MLS had classified the area as Hyde Park.  Residents have 400 signatures on a petition to bring their area back under Hyde Park in MLS and with the Neighborhood Council.

How did this happen?  MLS started to enforce the areas using CAGIS(Cincinnati Area Geographic Information Service) maps.  CAGIS says that they did not change the boundaries, but followed the Cincinnati Community Council Boundary Map.  In the research done by the Hyde Park East Committee, the area is always shown as Hyde Park.  If you want to see the video they put together for the Oakley meeting, go to www.hydeparkeast.com. 

The committee under the leadership of Jeff Orschell, Ward Smith, Terry Eschmeyer and Mike Mathias, have carefully researched the history of the area.  They have been given time to make a presentation at the Oakley Community Council meeting.  Show your support by going to the meeting...a strong turn out will let them know how important this issue is to the residents of the area.

Cincinnati's June sales were up slightly compared to May sales (.57%)Nationwide, the number of sales for June were up 9,8% from a year ago but down in number by 5.1% in a seasonally adjusted basis.

Year-to date, closings show positive numbers:

• Sales units  +11.94%
• Gross dollar volume sales  +21.35%
• Average Sale price  +8.41%

Sale prices are up for 2010 to date because fewer foreclosure sales are in early 2010 compared to 2009.

Low interest rates have also influenced sales.  A 30-year fixed rate mortgage home loan is now approximately 4.66%, a 39-year low.  Last year the rate was 5.61% at the same time.  If you are comparing payments on a $100,000 home, that would be a payment that was $52 less.  This has spawned a huge increase in refinancings.

The pace of sales has slowed since April 30.  Nationally, the number of people filling out loan applications is 40% lower than at the beginning of 2009.  It will probably take until November to see the affect of the tax credit shake out and things to return to a more normal market.

Economist, Lawrence Yun, with the National Association of Realtors, says that "Only when jobs are created at a sufficient pace will home sales return in sustainable healthy levels."

If you missed the refinance boom of November, 2009, you can now take advantage of the lowest rates in the past 40 years.  How do you decide if you should make this move?

Typically experts say that you need to look at what the percentage interest rate will adjust to, preferably at least one percent below your current interest rate.  Secondly, you need to consider how long you expect to stay in your current home.  Usually, if you stay at least 2 years, you will come out ahead in the process (because you need to look at the amount saved compared to the closing costs.

What should you expect in refinancing today?  Yes, loans are harder to get today.  Banks are investigating your finances to the finest detail. Rates will be dependent upon your credit score.  The type of rate you would have gotten in 2007 with a 640 credit score, now requires a 740 credit score.  As a result, plan on the process taking 5-8 weeks.

Appraisals are sometimes a surprise.  You need to look carefully at how much equity you have in your home.  If you did a 100% loan in 2007, you probably do not have enough equity built up to get a loan today.  For most of us, even though we know that the news is that prices have gone down, we tend to not think that our personal house's price has gone down.

Consider you debt.  No matter what, it is important to look at our total debt in making credit decisions.  Most lenders do not want you to have a home loan that is higher than 25% of your income.

Compare lender's closing costs as well as interest rate offered.  There are wide variations in closing costs from one lender to another.  Check it out before you actually decide on your lender.

Good luck...I hope you can save 100's of dollars!

Charming brick home on 1+ acres of land in premier location! Located in Columbia Township bordering Madiera, Kenwood and Silverton. Four bedrooms and 2.5 baths.  New A/C.  Wonderful built-ins throughout. Open kitchen with wood cabinets and plenty of counter space. Also features eat in area that overlooks the back yard. Formal dining room has features built in china hutches, chair rails, and chandelier. Warm living room is centralized by wood burning fireplace. Walks out to three season room which leads to back patio. Basement is waterproofed and Everdry contract still maintained and can be transferred. Wired for an alarm system.  Close to Kenwood shopping and I-71. 

June numbers are in for Montgomery, Blue Ash, Symmes Township and Sycamore Township, all part of the Sycamore School district. For the month, 65 homes or condos were sold.  There are currently 406 homes actively on the market and 76 pending sales.

Credit Suisse provides a monthly analysis of real estate traffic (showings) across the country.  The traffic index level dropped to levels not seen since the credit crisis began in late '08.  The sharp fall off in traffic was expected in May, but June only added to the slowdown.  The most worrisome aspect of their index is that the numbers continued to fall throughout the month.

Along with that, the number of pending home sales across the country dropped 30% from May, 15% below May, 2009.  The number of closings will continue to decline in July and August based upon this.

So, what does that mean?  Overall, it demonstrates that the consumer pushed their buying plans ahead in order to qualify for the $8000 or $6500 federal tax credit.  Now, homeowners can expect to be on the market longer and may be forced to further lower home prices, through reductions or concessions in negotiating a sale.

Lawrence Yun, chief economist for the National Association of Realtors notes that, "The tax credit has broadly stabilized home prices.  Now the key test on whether the housing market can stand on its own without the stimulus medicine will depend on private job creation in the second half of the year and conditions on the Gulf Coast.  If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions."

Montgomery, Blue Ash, Symmes Township and Sycamore Township have had 561 sales from June 30, 2009 to July 1, 2010.  That turns out to be approximately 47 per month.  At that rate, there are approximately 8.6 months of inventory.  five to six months of inventory is considered a balanced market.

June numbers are in for Hyde Park, Mt. Lookout, Oakley and Columbia Tusculum. For the month, 66 homes or condos were sold.  There are currently 309 homes actively on the market and 47 pending sales.

Credit Suisse provides a monthly analysis of real estate traffic (showings) across the country.  The traffic index level dropped to levels not seen since the credit crisis began in late '08.  The sharp fall off in traffic was expected in May, but June only added to the slowdown.  The most worrisome aspect of their index is that the numbers continued to fall throughout the month.

Along with that, the number of pending home sales across the country dropped 30% from May, 15% below May, 2009.  The number of closings will continue to decline in July and August based upon this.

So, what does that mean?  Overall, it demonstrates that the consumer pushed their buying plans ahead in order to qualify for the $8000 or $6500 federal tax credit.  Now, homeowners can expect to be on the market longer and may be forced to further lower home prices, through reductions or concessions in negotiating a sale.

Lawrence Yun, chief economist for the National Association of Realtors notes that, "The tax credit has broadly stabilized home prices.  Now the key test on whether the housing market can stand on its own without the stimulus medicine will depend on private job creation in the second half of the year and conditions on the Gulf Coast.  If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions."

Hyde Park, Mt. Lookout, Oakley and Columbia Tusculum have had 661 sales from June 30, 2009 to July 1, 2010.  That turns out to be approximately 55 per month.  At that rate, there are approximately 5.6 months of inventory.  Five to six months of inventory is considered a balanced market.

Credit Suisse provides a monthly analysis of real estate traffic (showings) across the country.  The traffic index level dropped to levels not seen since the credit crisis began in late '08.  The sharp fall off in traffic was expected in May, but June only added to the slowdown.  The most worrisome aspect of their index is that the numbers continued to fall throughout the month.

Along with that, the number of pending home sales across the country dropped 30% from May, 15% below May, 2009.  The number of closings will continue to decline in July and August based upon this.

So, what does that mean?  Overall, it demonstrates that the consumer pushed their buying plans ahead in order to qualify for the $8000 or $6500 federal tax credit.  Now, homeowners can expect to be on the market longer and may be forced to further lower home prices, through reductions or concessions in negotiating a sale.

Lawrence Yun, chief economist for the National Association of Realtors notes that, "The tax credit has broadly stabilized home prices.  Now the key test on whether the housing market can stand on its own without the stimulus medicine will depend on private job creation in the second half of the year and conditions on the Gulf Coast.  If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions."

Mt. Adams has had 23 sales from June 30, 2009 to July 1, 2010.  That turns out to be approximately 1.9 per month.  At that rate, there are approximately 21.5 months of inventory.  Five to six months of inventory is considered a balanced market.

Meyer Aquascapes is sponsoring a two day tour of 31 water gardens around the city. You're promised "marvelous gardens and great photo opportunities." All of the water gardens have been created by the company. They divided the tour up into West side, North side, East Side and Kentucky.

If you are interested in gardening or considering a water garden for yourself, this would be an opportunity to see what is involved. You can download their tours here.

This new park will add to the crown jewels of the Cincinnati Park system. TWIG is sponsored by the Women's Committee. Groups all over town with similar passions and interests are encouraged to participate. Every little contribution will add up and enhance the interest and involvement in building this park.  Ideas for groups that might come together are Scout organizations, garden clubs, walking groups, book clubs, and friends.  Dater Montessori and Town and Country Garden Club have already initiated projects that will benefit the Park attractions and activities.

Pictured here is Marjorie McCullough Motch recipient of the Phyllis W. Smale Award from the Women's Committee with Willie Carden, Jr., Director of the Cincinnati Park Board.  Among Marjorie's many volunteer endeavors is serving as the first president of the Cincinnati Parks Foundation Board of Trustees.

To see how the park is progressing and learn more about what is planned, visit www.MyCincinnatiRiverfrontPark.com.

Credit Suisse provides a monthly analysis of real estate traffic (showings) across the country.  The traffic index level dropped to levels not seen since the credit crisis began in late '08.  The sharp fall off in traffic was expected in May, but June only added to the slowdown.  The most worrisome aspect of their index is that the numbers continued to fall throughout the month.

Along with that, the number of pending home sales across the country dropped 30% from May, 15% below May, 2009.  The number of closings will continue to decline in July and August based upon this.

So, what does that mean?  Overall, it demonstrates that the consumer pushed their buying plans ahead in order to qualify for the $8000 or $6500 federal tax credit.  Now, homeowners can expect to be on the market longer and may be forced to further lower home prices, through reductions or concessions in negotiating a sale.

Lawrence Yun, chief economist for the National Association of Realtors notes that, "The tax credit has broadly stabilized home prices.  Now the key test on whether the housing market can stand on its own without the stimulus medicine will depend on private job creation in the second half of the year and conditions on the Gulf Coast.  If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions."

Anderson Township and Newtown have had 564 sales from June 30, 2009 to July 1, 2010.  That turns out to be approximately 47 per month.  At that rate, there are approximately 8.72 months of inventory.  Five to six months of inventory is considered a balanced market.

Architects and designers were recently asked to judge the World's Most Beautiful Campuses by Forbes Magazine.  Powerful natural landscapes played a part in establishing the character of some schools.  The University to Oxford was described as an architectural wonderland.  For large Universities, a clear diagram of organization helped them achieve recognition.

The University of Cincinnati's distinction is due to a strategic plan implemented over the past 10 years that used "signature architects" to design new buildings.  Architects of note included are Michael Graves, Frank Gehry, Peter Eisenman, Thom Mayne, Bernard Tschumi, Eric Sueberkrop, and others.

Other schools on the list were Kenyon College, Oxford University, Princeton University, Scripps College, Stanford University, Trinity College, Tsinghua University, University of Bologna, Yale University, Wellesley College, University of Virginia and University of California, Santa Cruz.

It is expected that the homes will be in the $550-850,000 price range.  Homes will be built in the Foxboro subdivision in West Chester.  Cobblestone Development and Drees Co. are the developers.

According to Dan Dressman, Executive Director, "The community sits on one of the highest points in the township providing sweeping vistas of the countryside and the alluring, evening lights of downtown West Chester.”

Artisan Estate Homes has pre-sold its show home.  Other builders signed up at this point are Daniels Homes, Greystone Homes, Hensley Custom Building Group, Jack H. Wieland Builders and Zaring Premier Homes.

For more information, check out their website at www.cincybuilders.com.

Streets off of Erie Avenue, including Ashworth, Hampton, Broadview and Forest Hills are affected.  After being called part of Hyde Park in MLS for the past 40+ years, they are now being put in MLS as Oakley.  All because of CAGIS.

So, what is CAGIS?  They describe themselves in part as:

"The mission of the Cincinnati Area Geographic Information System (CAGIS) is to create a revolutionary computerized information sharing system that enables the fundamental transformation of government and utility service management and delivery. CAGIS is to offer government, utility companies, groups, or citizens a new, intelligent, and cost effective tool to make informed decisions based on shared data within a standard framework.

In 1995 CAGIS established the foundation for automating the functions of government and utilities whose activities create the inventories of sewers, land records, water, drainage, electrical systems, streets, right of way, etc. supporting the community.  CAGIS is a consortium of the land and infrastructure agencies in the City of Cincinnati, Hamilton County, Cincinnati Bell Telephone and Cincinnati Gas & Electric, plus specific departments served within the City of Cincinnati and Hamilton County."

Multiple Listing Service Point of View

The MLS decided to use 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 neighborhoods. So, is it Westwood or Covedale, Silverton or Columbia Township, Kennedy Heights or Pleasant Ridge, etc.? Prior to CAGIS, there was no source of accurate neighborhood lines.  Authorization follows census tract data and community councils and city planning guidelines.

Why should you care?

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.  Also, the Hamilton County Auditor taxes these areas based upon a Hyde Park location...would taxes then go down?

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 Columbia Tusculum.  Do you even know if your street could be considered part of another neighborhood? I have lived in the area since 1970 and specific streets have been disputed for all that time.

The Hyde Park East Group has been formed to try to get the affected streets back in Hyde Park by CAGIS and then changed by MLS.  If you are interested, you can watch a video they have prepared that shows the history of the area at:

http://home.fuse.net/ward7/HPE.html

They have already requested that the Oakley Neighborhood Council declare that these are streets they do not serve.  The organization will be having a neighborhood meeting at the Oakley Community Center (near Biggs in Hyde Park Square)...is this confusing or what!...on August 3 at 5:30 PM.

If you cannot attend the meeting, but want to comment, you can contact:

Jeff.orschell@hydeparkeast.com

ward.Smith@hydeparkest.com

terry@hydeparkeast.com

JULY 2

Madeira - Downtown Madeira all the way to Sellman Park. This is part of Madeira's celebration of its Centennial. There will be floats in the parade starting at 6:30 pm with fun and food in the Park until fireworks at 10 pm. Free.

JULY 3

Coney Island Park - LaRosa's Balloon Glow -Starting at 1 pm until fireworks at 10 pm. Coney Island comes alive at the 11th Annual LaRosa’s Balloon Glow! Live music, family entertainment and Coney's Classic Rides make for a fun-filled evening. New this year, see the Wallenda Family Thrill Show at Sunlite Pool! Later, the evening sky illuminates when as many as 20 hot air balloons of every color “glow” for all to see. The grand finale for the event is a spectacular Rozzi’s Famous Fireworks display over the banks of Lake Como beginning at 10pm. Entrance is free.  Fees for pool, rides and parking.

Mason -  Red, Rhythm and Boom - At the Corwin Nixon Park, the fun starts at 2:30 pm and continues until fireworks art 10:30 pm. Features parachute jumpers, clowns, carnival rides, balloon artists, face painting and food.  Music all day. Free 

Anderson Township - "Hometown Pride" Independence Day Parade - Over 100 entrants will cover the route along Beechmont Avenue to the Anderson Towne Center, starting at 11 am.  Afterwards there is a vintage car show, games for children, and  food.  Entertainment from Robin Lacy and DeZydeco.  There are prizes for the best floats or displays. Categories include: most spirited, most patriotic, best business, best neighborhood, and best float.  Additionally, there is a photo contest, where judges will choose one photo taken during the parade that best exemplifies this year's theme.

Mount Washington - Parade -The American Legion Post 484 and the Mt. Washington Community Council are sponsoring the parade that starts at 10 am from Stanberry Park to the Legion Hall. Decorate your bike or trike and be at the Park by 9:15 am to participate in a "best decorated" contest.  Then join in the fun as part of the Independence Day Parade.

JULY 4

William Howard Taft National Historic Site - Ice Cream Social - Tour the former home of William Howard Taft and enjoy the ice cream social on the lawn.  Wonder if they will make us turn a crank style ice cream maker to make our own.  I remember doing that with some mighty fine ice cream my mom made.  Makes you wonder if the 27th President and 10th Chief Justice of the United States ever made ice cream on the lawn of his boyhood home!

Fountain Square -Music, Movies and Fireworks! -Oh, My!  11 am is the starting time for the 2010 Pride Parade, starting at Sentinel St. traveling on Fifth and ending on Race Street.  Immediately following is the 2010 Pride Festival on Fountain Square.  There will be an entertainment stage with a great lineup of live music, a dance floor and full service bars. From 6-9 pm, an evening of gospel, soul and R&B will be a fun way to lay back and relax.  Musicians featured include Adam Joseph, Alfred Beasley & Purple Rose and DJ Easz.  P & G is sponsoring the Rozzi's Famous Fireworks show at 9:15.

Hyde Park - Ault Park Fourth of July Celebration- The Cincinnati East Tea Party could not let this 50 year tradition go  by the wayside.  They have taken over the event.  A Bike/scooter Parade for ages 12 and under will start at noon with registration by 11:30 am.  Helmets are required.  Games and prizes start at 6 pm.  Patriotic Independence Day recognition at 7:45 pm followed by music from Blue Stone Ivory.  Rozzi's Famous Fireworks at 10 pm.  Any profits will benefit the Nashville Flood Relief program with the American Red Cross. 

Homes and condo sales continued at a brisk pace in May, 2010 in Mt. Adams.  6 homes closed in the month of May.  There are currently 4 homes pending closing and 40 homes and condos that are actively listed for sale.

Mt. Adams is one of the few areas of Cincinnati showing signs of rebounding. Prices so far in 2010 are significantly above last year and 2005.  Most homes in Cincinnati are currently averaging below prices sold for in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances.

According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) have been slower in May.  This is caused by the end of the homebuyer tax credit.  It forced many buyers to buy ahead of what might have been their regular time schedule. Low traffic levels may result in a longer time to sell a house and price reductions.

The Cincinnati Multiple Listing Service reported an overall uptick of 25% from May of 2009 to May of 2010 on the number of homes sold in the region.  That is more than the 19% reported for nationwide home sales.  June sales are expected to also remain strong as the last of the tax credit homebuyers close on their homes.

Homes and condo sales continued at a brisk pace for May, 2010 in Montgomery, Blue Ash, Symmes Township and Sycamore Township (Sycamore School district).  59 homes closed in the month of May.  There are currently 80 homes pending closing and 396 homes and condos that are actively listed for sale. 

Troubling issues raised by the above graph show that we are back to the average and median prices of homes and condos sold in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances.

According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) have been slower in May.  This is caused by the end of the homebuyer tax credit.  It forced many buyers to buy ahead of what might have been their regular time schedule. Low traffic levels may result in a longer time to sell a house and price reductions.

The Cincinnati Multiple Listing Service reported an overall uptick of 25% from May of 2009 to May of 2010 on the number of homes sold in the region.  That is more than the 19% reported for nationwide home sales.  June sales are expected to also remain strong as the last of the tax credit homebuyers close on their homes.

Troubling issues raised by the above graph show that we are still not back to the average prices of homes and condos sold in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances.

According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) have been slower in May.  This is caused by the end of the homebuyer tax credit.  It forced many buyers to buy ahead of what might have been their regular time schedule. Low traffic levels may result in a longer time to sell a house and price reductions.

The Cincinnati Multiple Listing Service reported an overall uptick of 25% from May of 2009 to May of 2010 on the number of homes sold in the region.  That is more than the 19% reported for nationwide home sales.  June sales are expected to also remain strong as the last of the tax credit homebuyers close on their homes.

Troubling issues raised by the above graph show that we are still not back to the average or median prices of homes and condos sold in 2005.  This is causing difficulties for people wanting to refinance in this time of extremely low mortgage rates.  It is also a problem for those with little equity in their home, who need to sell because of a relocation or change in family circumstances.

According to Credit Suisse's monthly survey, traffic levels (number of visitors to homes for sale) have been slower in May.  This is credited to the end of the homebuyer tax credit.  It forced many buyers to buy ahead of what might have been their regular time schedule. Low traffic levels may result in a longer time to sell a house and price reductions.

The Cincinnati Multiple Listing Service reported an overall uptick of 25% from May of 2009 to May of 2010 on the number of homes sold.  That is more than the 19% reported for nationwide home sales.  June sales are expected to also remain strong as the last of the tax credit homebuyers close on their homes.

The major reason for this increase is related to the federal tax credit.  But, you say it ended in April!  Yes, the ability to write a qualifying contract ended on April 30, but buyers have until June 30 to close the loan.

At this point the House and Senate have a bill in front of them extending the time to close until August 30.  Why would it be extended?  Many builders accepted more contracts on new homes than they have been able to build in the time allotted.  Bank short sales and foreclosures often take months longer to close than predicted, delaying the closing dates again and again.  This legislation may or may not be pass in time.

Another major reason for the increase in sales is low mortgage interest rates.  The mortgage interest rate is down almost a full point since January.  Recent advertisements for loan rates for the best customers have touted rates as low as 4.75% for a 30 year fixed rate loan.

Another light at the end of this real estate tunnel seems to be reduced inventory.  In May of 2009, there was 8.37 months of inventory available in the Cincinnati market.  Today is stands at about 6.7 months of inventory.  A balanced market is in the 5-6 months of inventory range.  Anything above that favors buyers: below that favors sellers.

For the year, closings are up 13%, gross volume of sales is up 24% and the average price is up 9.9%.  All GOOD NEWS!