Big Time Buyers Market in Cincinnati and Northern Kentucky

As we enter the 2nd half of 2007, the real estate market in the Greater Cincinnati Ohio and Northern Kentucky areas has remained quite stagnant. This is a true buyers market, meaning there are way too many homes for sale and not enough buyers. This is a great time for buyers, as many people who bought homes in the last few years, can't afford their mortgages and need to sell or get foreclosed on. Except for a few exceptions, buyers can negotiate thousands, sometime tens of thousands off most sellers asking price. It is unfortunate for most sellers, but for buyers, this is a great opportunity to take advantage of this market.





There is also a glut of condominiums in Cincinnati and Northern Kentucky, that also helps new buyers. I recently represented a buyer for a new condo in Bellevue Kentucky that is brand new, never been lived in. The developer was asking $434,500 and after some negotiating, my client was able to buy that condo for $ 367,500. Quite a difference from the asking price. This market is fantastic for buyers. If you are thinking about buying a home in the Cincinnati Ohio or Northern Kentucky area, please give me a call anytime @ 513-315-9295.

Home Buying in 2007

Well, It's a new year and the media keeps telling us that housing has been flat and will continue to be flat, depending where in the US you live. Here in the Cincinnati and Northern Kentucky area, business has slowed, but there is hope in sight. Cincinnati has a great industrial base that will keep people moving here, as well as the appeal of the river town's rich history. There is currently a condominium boom on both sides of the river. In Covington, there is already several great condo projects done and in the process of being built. The Ascent is currently being built and will be quite a landmark in Covington. In Newport, there is a new condo project just getting umderway called South Shore. This development will have 200 condos ranging from $ 400,000 to over $3,500,000.

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