I keep hearing how bad the real estate market is from the local and national media. There is no question, the local real estate market is slower this year than previous yesrs. We currently have about twice the number of houses on the market than we normally do. The sales volume is behind previous years and the average sale price is also lower.
It is definitely a buyer's market right now. For those thinking about buying a home here in the Cincinnati Market, all the pieces are in place to get a great buy.
The interest rates are still very good and there are still good loans available.
There are many homes to choose from and many motivated sellers.
Some of my clients have gotten some great deals on homes lately. We have helped them find nice homes in nice communities that are priced below market value. Some of the homes are new homes and homes that need some TLC. If you have your pre approval ready and are patient with your search, there are some great buys right now.
There are many bank foreclosures also available. If you are an investor looking for a fixer upper to hang onto and rent. Its a great time for a buy and hold strategy. If you are able to keep these homes until the market turns around, you should do very well. Also, if you you want to buy a home and are willing to do some work, opportunities are available.
Call us and ask about our VIP buyers program and let us find a great deal for you. It's a great time to buy.