tag:blogger.com,1999:blog-21031694272273861902011-12-03T11:37:42.887-08:00Articles from the Ecofficient Living Monthly newsletterTim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.comBlogger1001100tag:blogger.com,1999:blog-2103169427227386190.post-51378023231884072011-04-01T07:32:00.000-07:002011-04-01T07:36:04.188-07:00

Just passing along an interesting article from today's Cincinnati Enquirer that many of you might find interesting. It discusses how area zoning commissions are tackling growing use of solar panels and wind turbines in residential areas.... Cincinnati Enquirer article

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-1705196362068872182011-02-05T08:51:00.000-08:002011-02-06T04:17:58.685-08:00

Many in the real estate industry have for some time been trying to make the argument to consumers about "total home ownership costs". That is, considering not only your initial costs, but ongoing maintenance and utility costs in the equation. While banks seem to be a little behind the curve on this, proposed regulation known as the Sensible Accounting to Value Energy act (the "SAVE" act)

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-37067869280661180622011-02-02T14:38:00.000-08:002011-02-02T14:50:23.262-08:00

Last month, I discussed the challenge for 2010 sales and how the tax credit pushed sales forward from later months. Thanks to our broker's sales manager, I now have a chart that shows how sales after July 2010 almost literally fell off a cliff.View chartAlways nice to have a visual! Anyhow, the remaining Cincinnati MLS statistics from December continued to show challenges for sellers with an

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-13410360055981995492011-01-06T10:28:00.001-08:002011-01-09T08:27:54.470-08:00

The 2nd half of 2010 was, to put it mildly, something of a challenge in the real estate industry. Once the tax credit expired, sales took a pretty hard dip for the remainder of the year. Although there seems to have been a bit more activity towards the end of the year, 2011 is projected to be more of a "transitional" year as opposed to any kind of full-fledged recovery. Here's a brief look back

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-27866608395481182352011-01-05T05:21:00.000-08:002011-01-09T09:46:07.417-08:00

New and revised energy standards for 2011 could make this an interesting year for both existing home owners and those looking to buy a new home. Here's a quick look at some of the changes on tap:Revised Energy Star guidelines: Products and homes looking to label themselves as Energy Star certified will have to meet more robust criteria. New specifications for many products and appliances

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-66421921958459326132011-01-01T06:40:00.000-08:002011-01-09T09:50:34.799-08:00

Call it a result of the Great Recession, but a look back at the last year left me pondering the current buyer - seller disconnect in housing. What I am referring to is how there is a huge gulf in the mindset of home buyers vs. sellers when it comes to negotiating what constitutes a fair deal.First, let's take a look at sellers in the current market. Many purchased their current home when the

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-12108131974273048612010-11-05T13:06:00.000-07:002010-11-06T07:02:39.523-07:00

The latest pending sales for October came out today. Unfortunately, not in the direction one would hope for: falling 1.8% on a monthly basis and 24.9% down from October 2009.Looking past the foreclosure mess that came roaring into view last month, most housing activity showed slight growth from the summer's dismal readings. While sales have shown a modest uptick from August, inventory continues

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-55336341455754789362010-11-01T15:16:00.000-07:002010-11-06T07:11:55.161-07:00

Winter gray is starting to make its presence known and thoughts of a cozy fire may be something you look forward to. The question is, will that fire actually provide some heat, or simply be something nice to look at.You've probably heard that older style, open masonry wood fireplaces can lose more heat than they provide, but there are ways to address those problems. Here's a few options you might

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-89604929412337500602010-10-29T09:33:00.000-07:002010-10-29T09:48:02.192-07:00

Those of us working in real estate just kind of shake our heads with the latest batch of news regarding foreclosures, bank problems, upset MBS investors, on and on.... Yes, it will eventually sort itself out, but many days it feels like that light at the end of the tunnel is just a bit dimmer and further away.Much of the information about foreclosure moratoriums is filled with hyperbole from all

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-17007720435400884372010-09-24T11:09:00.000-07:002010-09-28T09:29:23.309-07:00

After July sales seemed almost non-existent, August showed signs of only marginal improvement. Many were expecting that we'd see a little better activity given that mortgage rates continued to see new lows. What's surprising perhaps is that home affordability is even better than when the tax credit was in effect, but that doesn't seem to be spurring any new sales.The headline numbers both locally

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-51204946086849959522010-09-07T10:25:00.001-07:002010-09-20T07:31:35.153-07:00

Earlier this year when Congress was discussing an energy bill, the idea of mandating energy audits during a home purchase became a point of contention. While misinformation on the issue did occur, the notion of requiring energy audits during a home sale never saw the light of day.The idea of requiring energy audits is not new, however. Some localities in the U.S. have already implemented a

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-51353179932711125412010-08-28T07:00:00.000-07:002010-08-28T07:00:02.994-07:00

I think we can officially call July sales a little bit ugly. To sellers, it must have seemed like everyone left town for the month.Based on the Cincinnati MLS numbers, the total number of sales (closings) in July fell 31% from last July. On top of that, the inventory went through the roof - sorry, bad pun - rising to 11.6 months based on the sales rate.See Cincinnati MLS-based charts here.The

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-90321973311226800502010-08-22T07:58:00.000-07:002010-08-28T07:17:36.094-07:00

It's a question real estate agents hear all the time - so, what have the utility bills been like on this house? So common, in fact, that both buyer's agents and listing agents will often have that information in hand before a prospective buyer even asks - especially if it shows the house in a good light.But what does this data really tell us? Most likely, all it tells us is how much energy the

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-68670653138439572502010-08-15T13:51:00.000-07:002010-08-16T09:58:10.630-07:00

So, mortgage rates dropped to an average of 4.4% last week. The lowest in 40 years, with no expectation that they will increase significantly in the near future.It was just a few months ago that the published conventional wisdom thought rates could increase from their already low rate of around 5% to 5.5 or even 6% by the end of the year because the Federal Reserve was ending their purchases of

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-42567430110062895952010-07-27T05:51:00.000-07:002010-07-27T13:43:35.622-07:00

What are we to make of June's market reports? Closings of existing homes were up from last year, the Case-Shiller price index increased 1.3% from April to May, and new home sales jumped 24% over May's lows. Yet pending sales dipped, purchase mortgage applications continued to decline, and inventory is back on the rise.See Cincinnati MLS based charts for JuneThe "conventional wisdom" suggests that

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-56077920444564617362010-07-20T07:06:00.000-07:002010-07-21T07:15:27.434-07:00

A somewhat flip question that agents sometimes ask their clients these days is: do you want to price your house to show it or sell it? While it may be harsh, the question is often valid. Even as we enter a 4th year of a buyer's market, many sellers still have an inflated sense of what their home is worth.Last month I discussed how many buyers are looking to make lowball offers when that may not

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-81626976376636858392010-07-13T06:12:00.000-07:002010-07-14T11:22:29.707-07:00

If you live in one of the several townships or cities in the area that have established an electric "aggregate" program, you may start seeing lower utility bills soon. In West Chester, where I personally reside, my electric rate is set to drop to 6.2 cents / kWh on my next bill as compared my Duke Energy "rate to compare" of 9.2 cents / kWh.Aggregate programs vs. Consumer Choice optionsYou may

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-66941981019930564282010-06-28T16:21:00.000-07:002010-07-01T07:49:18.982-07:00

Are we doomed to see a second dip in housing? Although the number of closings continued to increase in May, some of the future indicators for sales dropped on a month to month basis which had many financial pundits forecasting that lagging home sales could weigh on the broader economy.That said, we continued to see some positive trends in Cincinnati that bodes well for the rest of the year. Some

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-7026234097032350412010-06-20T16:43:00.000-07:002010-06-22T07:26:04.720-07:00

Duke Energy has started to roll out implementation of smart meters throughout the Cincinnati metro area. Terrace Park was a "pre-deployment" site in December 2009, but installation began in earnest this year and will move out to the suburbs over the next few years.See the Duke deployment map hereMuch has been made over the past couple of years about smart meters and the smart grid (the meters

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-29473298061159466192010-06-10T06:29:00.000-07:002010-06-10T09:12:39.065-07:00

Have you heard the so-called "financial gurus" that suggest making offers on homes that are 60% or 75% or whatever figure they choose relative to the asking price? And then tell you to just keep shopping for a home until someone accepts your lowball offer? Sounds like a good way to get a bargain, right?Well - maybe. One of the biggest reality checks I received after working real estate full time

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-32481864640192151052010-05-31T16:52:00.000-07:002010-06-01T07:54:10.295-07:00

The expected rush towards the end of the tax credit period was reflected in a whopping 32% year over year increase in Cincinnati area sales, 22% on a national basis. And the hits just kept on coming:Sales from January to April are up 8.34% over last yearTotal dollar volume of Cincinnati MLS sales through April is up 21.98%The local inventory to sales rate fell to 7.52 months, the lowest April

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-62044391009523107252010-05-30T06:00:00.000-07:002010-05-30T09:07:01.331-07:00

The drop in mortgage rates in May just goes to show you how unpredictable markets can be. Nearly all the "experts" were expecting for mortgage rates to start heading higher this month given the fact that the US Treasury ended its program to buy mortgage-backed securities in April.For a few days, rates did rise. Then, rather suddenly, some events occurred - including the "flash crash" and concerns

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-15966634171499364772010-05-11T09:34:00.000-07:002010-05-13T13:22:10.339-07:00

Lennox is expected to make available a second generation of its solar-powered heat pump or "SunSource Comfort System" sometime later this year, currently introducing it at trade shows and reseller venues.Essentially a high-efficiency heat pump adapted to operate with assistance from solar panels, the product offers a way for homeowners to take a modest step towards offsetting some of their energy

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-24313509770832684872010-04-25T07:20:00.000-07:002010-04-25T15:34:38.450-07:00

Great fanfare was being made over the March housing industry statistics as positive numbers came in across the board. Yet the celebration remains contained as everyone waits to see what happens once the tax credit finally expires.Nevertheless, there was reason to cheer the feeling that a modest level of confidence has been restored. Some of the positive stats included:New home sales jumped nearly

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-36840830756484541212010-04-20T10:12:00.000-07:002010-04-30T12:40:07.548-07:00

The subprime loan 60-day delinquency rate saw its first decline since 2006 in March. The rate fell from 46.9% to 46.3%. Not exactly an earth shattering decline, but nevertheless noteworthy. (Before starting a steady rise in 2006, the delinquency rate was 6.2%.) This follows a "seasonally adjusted" quarterly decline for all types of mortgages in February according to the Mortgage Bankers

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-55141198510523748422010-04-14T12:22:00.000-07:002010-05-01T09:24:09.024-07:00

A recent experience during a sale reminded me once again how homeowners unknowingly cost themselves money (and create potential health issues) by overlooking proper ventilation in attics.I've previously noted how the Cincinnati area is full of homes where the upper level gets significantly warmer than the main level, prompting homeowners to jack up the AC more than necessary. The main culprits is

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-77739330239431950962010-04-01T12:34:00.000-07:002010-04-03T11:23:51.207-07:00

February sales were full of ups and downs as the market tried to find some balance. Some of the local highlights include:Sales down by 17%Average price up by 13%Lender-controlled sales down by 15%Housing supply up by 1.5 monthsAverage days on market down 11%Pending sales up by 8%(Click to see local charts.)If you were looking for the market to gain a more solid footing locally, there wasn't much

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-89699966009163442472010-03-21T07:55:00.000-07:002010-03-25T12:11:02.909-07:00

The Treasury's program to buy Mortgage-backed securities comes to an end in March with an uncertain forecast of the resulting impact. Most predictions suggest mortgage rates are likely to rise somewhere between 1/2% to 1% by the end of the year, putting some pressure on the nascent housing recovery. Additionally, the homebuyer tax credit ends in April with virtually no chance (or expectation) of

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-78128760244639544382010-03-13T15:23:00.000-08:002010-03-18T16:25:01.330-07:00

If you're a homeowner that uses a natural gas furnace to heat your home, you may have noticed your bills being a little lower this year (or at least offsetting the cost of this year's colder winter). Because of new technology to extract natural gas, there's now an overabundance of supply. So much so that all the surplus is difficult to store.Surplus expected to continueThe expanded use of "

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-81136430366930680032010-02-27T08:34:00.000-08:002010-02-28T15:13:10.804-08:00

Local sales activity seemed to take a vacation in January. While there were a few good things that suggested the market continues to stabilize such as increasing prices and a lower percentage of distressed sales, the activity level dropped off significantly from last January.Here's a look at some of the key local statistics: (Click to see January charts)Local sales fell 7.8% from last January,

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-56744695792560566452010-02-11T15:55:00.000-08:002010-02-28T17:07:45.308-08:00

Remodeling Magazine released its latest evaluation of home improvements and the biggest returns suggest buyers are focused on the exterior curb appeal.The current online report includes results nationally, by region, and you can also narrow down to the Cincinnati area specifically (see Cincinnati stats here).One question someone might have is why they would make an improvement before they sell

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-41385194948351798532010-02-09T05:59:00.000-08:002010-03-01T06:06:24.184-08:00

I recently received an e-mail touting the all-new "Hybrid Water Heater" from GE. You may have seen these advertised during the Olympics too.Well - I had to do a little research on this. First off - what the heck is a "hybrid water heater"? Beyond that, my question is always - does it save money? If so, how does it compare to other types of water heaters?The "hybrid" water heater is essentially

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-47970684688822053852010-01-29T13:22:00.000-08:002010-02-01T07:03:00.192-08:00

Anyone looking at December's market statistics would be hard pressed to decipher whether it's good news or bad. Home builders are still having a tough slog, but existing homeowners can take some solace that pricing has appeared to stabilize.Nationally, the numbers raised fears that the housing market will begin falling again when the tax credit expires. Several stats highlighted the concerns:

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-29669351994471804562010-01-27T12:43:00.001-08:002010-01-27T13:26:44.171-08:00

Effective February 1st, the FHA will waive its "90 day rule" for 1 year. In its current form, this rule prevents a potential buyer from buying a property that has been owned for less than 90 days by the current owner. The initial basis of this rule was to eliminate "flipping" properties (that is, buying the property only for the purpose of reselling it quickly in a hot market).This temporary

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-79045774074699230132010-01-22T11:15:00.001-08:002010-02-01T06:24:14.393-08:00

FHA loans have been a significant part of home sales over the past couple of years after 100% loans went away. While these low down payment loans have no doubt help stabilize the housing market, the burden on the FHA has grown relative to their presence in the market.This week, the clamps began to tighten down. While some are concerned that this will cause home sales to drop off again, it

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-10124249469027251882010-01-20T05:37:00.001-08:002010-01-22T09:23:01.428-08:00

This chart came across my desk today which some may find interesting. Not surprisingly, many homebuyers focus on the energy saving features available in a home if they are considering "green" features. Midwest and Northeast buyers probably focused on this the most due to high winter heating bills.Other items that are "environmentally friendly" or even those that may improve indoor air quality are

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-66593861470709239792010-01-18T12:57:00.000-08:002010-01-27T10:47:22.196-08:00

A recent search for LEED (Leadership in Energy and Environmental Design) certified homes in the Cincinnati MLS showed awareness among builders and buyers has grown considerably within the past year. Prior to 1/1/09, only 3 homes were marketed and sold as LEED certified in the MLS database. In the year since, 15 homes have sold with 24 actively being marketed.While these numbers aren't

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-45800409543649388452009-12-28T11:48:00.000-08:002010-01-01T07:55:00.859-08:00

Cincinnati's market activity spiked upward in November reflecting a push by many buyers to close on homes before the original tax credit deadline of Nov. 31. The same trend was seen nationally as existing home sales managed to post considerable gains and even managed to eke out a small tick up in prices.Click for November's ChartsSome of the key stats from November:Local inventory rose modestly

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-42787260468327421242009-12-19T12:19:00.000-08:002009-12-30T09:08:48.128-08:00

Time once again to remind homeowners of some important tax issues as we prepare for the new year.Ohio Homestead exemption: This special allowance enables homeowners that are disabled or above 65 to exempt $25,000 of home value from property taxes. There are no income limits on this exemption. Additionally, ALL homeowners are eligible for a 2.5% tax deduction for their primary home (no second

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-48555790270718221922009-11-20T11:20:00.000-08:002009-11-27T14:39:07.229-08:00

Both consumers and real estate agents alike often struggle to understand Ohio's pro-ration of taxes at closing. The latter part of the year is especially troublesome as sellers are often surprised by the amount that shows up on their HUD statement as it can be nearly a full year's tax that they get charged.So what happens?First, it's important to understand that Ohio property taxes are paid 6

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-79538490858736032812009-11-20T05:48:00.000-08:002009-12-01T06:15:20.934-08:00

Tired of waiting several minutes for hot water to reach your faucets in the morning, watching water wasted running down the drain? One technology that has gained some attention recently are "hot water recirculators" that promise to make hot water almost instantly available wherever you need it.The notion of a hot water "recirculator" sounds pretty good on paper: less water used waiting for hot

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-70211809435204863862009-11-18T18:06:00.000-08:002009-11-20T11:12:30.546-08:00

Portions of October's home sales numbers quickly illustrated the effect that the first-time homebuyer tax credit had on the market. As uncertainty lingered on whether the credit would be extended (and, for better or worse, now expanded), the impact was seen most significantly in new home construction. According to the National Association of Home Builders:Housing production fell 10.6% in

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-61259509522610249782009-11-01T09:14:00.000-08:002009-11-01T10:19:23.934-08:00

Scarier than Halloween, it's nearing time again for those winter heating bills. Gas and energy prices might give us a little bit of a break this year, but don't overlook some basic ways to keep dollars in your pocket. Here's 10 reminders for winter energy savings:Have routine maintenance performed on your heating system. This includes changing filters. If you have a media filter that gets changed

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-50401963600216297772009-10-23T09:08:00.001-07:002009-11-04T15:45:39.065-08:00

Right on cue, buyers appeared to rush the door before the December 1 tax credit deadline. In the Cincinnati market, home sales increased over 10% on a year over year basis. Some of the local and national figures that grabbed headlines include:A 9.2% increase nationally (10.55% locally) from September '08 in existing home salesA 6.4% increase in the pending home sales index, with 7 monthly

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-79451314360811711042009-10-23T05:55:00.001-07:002009-10-23T08:49:06.666-07:00

Effective January, 2010, consumers should see some new information from their lender when applying for a mortgage and when they go to closing.RESPA (Real Estate Settlement Procedures Act) guidelines were revised as a result of the subprime debacle to try and put more (and presumably clearer) information in the hands of consumers when shopping for a mortgage and at the time of closing to ensure

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-55433908716431448242009-09-29T08:37:00.000-07:002009-09-29T10:28:59.548-07:00

As expected with a stabilizing market, August's stats were something of a mixed bag. However, the trends for Cincinnati continued to be mostly positive. Some of the notable highlights from the Cincinnati MLS statistics include:The total number of sales transactions continued to match rates from 1996 - 1997. A trend we've seen for the entire year and possibly representative of a "normal" rate of

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-58149720857234108522009-09-28T14:07:00.000-07:002009-09-29T07:13:50.908-07:00

As the housing market has begun to show signs of a pulse, banks and federal agencies are looking at taking the patient out of ICU. What's uncertain at this stage is how the market will react without the supports that were used to stabilize it.First up is the first-time buyer's tax credit slated to end as of Nov. 30th. All evidence suggests this program has been significant in prompting sales at

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-26153158331440667612009-09-19T13:36:00.000-07:002009-09-24T15:00:19.692-07:00

If you've been in the market for new plumbing fixtures recently, you may have noticed a lot more fixtures being identified with the WaterSense label. This EPA program seeks to do for water conservation what Energy Star has for energy efficiency. While there are specific criteria that apply, generally those products defined as meeting WaterSense guidelines are 20% more efficient than the average

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-78933460046408543842009-08-29T14:13:00.000-07:002009-08-30T11:51:14.671-07:00

With economists and news media reporting housing as the good news for a change, it would be easy to think the worst is now behind us. This month's statistics definitely continue the trends in a positive direction, but underlying the movement are temporary factors that will likely keep the pressure on sellers and prices flat for a long time to come.The good news in July's statistics include:The

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-68944789221440999382009-08-27T05:39:00.000-07:002009-08-27T11:34:33.291-07:00

Many prospective homebuyers initially think of foreclosures and short sales as the way to get a bargain home. Unfortunately, most experience a shock when they see the condition of most of those "bargain" properties. The vast majority need at least some level of rehab conditioning - paint and carpet being a minimum level to start, but there's usually a number of both minor and major fixes needed

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-38339543271347131262009-08-18T17:10:00.000-07:002009-08-27T05:30:15.664-07:00

The Energy Star rating for homes has long been a basic standard for consumers looking for energy efficiency, but as building codes have improved, the current guideline is starting to show its age.One of the primary measures to get the Energy Star rating is the Home Energy Rating Standard (HERS). The HERS rating system by itself can be a strong indicator of how energy efficient a home is by

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-90073784177928179232009-07-30T08:03:00.001-07:002009-07-31T17:37:09.399-07:00

Although no one's claiming an end to the housing slump, it's hard not to consider the positives in June's housing statistics as signs of life beginning to emerge.Some of the good news at both the local and national levels include:The inventory vs. sales rate in Cincinnati dropped to 7.2 months. This is the first time the monthly rate has been below the previous year since 2006. In fact, the rate

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-13306751748853043162009-07-24T07:48:00.000-07:002009-07-27T09:17:08.376-07:00

Cincinnati isn't necessarily known as a hotbed of activity for solar power products, but with available tax credits and other incentives, the available options are more attractive than one would think.After speaking with a number of vendors in the area, I've identified several solar powered products than can be quite cost effective. The list below shows some of the options and incentives

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-8210223385814774322009-07-16T06:33:00.000-07:002009-07-16T09:11:11.040-07:00

As if sellers weren't having a hard enough time in this market... over the past few months, more sales contracts are falling apart - and more are happening due to low appraisals.In "normal" housing markets, it's less common that problems arise once a contract is signed, but here's a quick look at issues that are happening with some frequency now:Home Inspections - always good practice, but when

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-80406385855068562712009-06-30T09:00:00.000-07:002009-06-30T12:39:38.764-07:00

Those looking to sell in the current market are hopeful for any signs of a turnaround, but May's numbers are showing it could be a slow slog before inventory and pricing change in their favor. Continuing the trend from April, the market does show signs of at least beginning to flatten out with a mixed bag of positives and negatives. Nobody's expecting a sellers market anytime soon, but we could

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-64882155808786266732009-06-26T16:27:00.000-07:002009-06-30T12:46:50.719-07:00

If your thinking of taking advantage of the current energy tax credits to replace your windows, you might want to consider just how much bang for the buck you will get.Getting an energy efficient window may be one of the most complex and least understood improvements that can be made to a home. For example, what does it mean to have a low-E window? What about gas-filled, double-pane windows? How

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-88018591375273098392009-06-07T12:10:00.000-07:002009-06-13T14:22:10.087-07:00

When banks were handing out money with 100% financing and going light on credit checks, owner financing (aka "rent to own") fell out of fashion. As credit and the need for down payments has tightened, demand for owner financed lease arrangements has increased sharply.There is a risk element involved with leasing of a home, so good tenant screening and some form of landlord insurance is

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-68318579370951197502009-05-26T08:11:00.000-07:002009-05-29T10:10:46.466-07:00

The stock market rallied in April on news that things were "less worse" than imagined and economic declines were slowing. Those same sentiments were partly reflected in April housing statistics as inventory continued a narrowly downward trend and month to month prices decreased at a slower pace nationally.Meanwhile, in the local Cincinnati area, showings seem to be up, but the rate of sales and

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-3860294873315172782009-05-18T11:38:00.000-07:002009-05-18T12:50:34.606-07:00

It's hard to avoid all the commercials touting the benefits of new high efficiency windows for your home - especially now that you could be eligible for a tax credit when you replace old windows. But before you lay out big cash for new windows, you may want to consider an option you may not be familiar with: solar screens.Solar screens fit over your existing windows to help block UV rays and

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-28468529870775593792009-05-08T11:11:00.000-07:002009-05-08T11:50:26.763-07:00

A recent Wall Street Journal article identified that insurers are beginning to discount premiums for homes built to green standards such as LEED in addition to discounts for drivers of hybrid and fuel-efficient vehicles.After a bit of digging around, I did find that Fireman's Fund insurance - one of the companies highlighted in the story - does offer discounts in Ohio of 5% on premiums for homes

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-30756258034596338882009-04-30T09:17:00.001-07:002009-05-01T06:37:07.645-07:00

Trends in the housing market through the end of March suggest we might be seeing a bit of stabilization in the market, if not necessarily improving conditions for sellers.On the plus side this month, total inventory continued to decrease dropping below the peak levels in 2006 - 2008. Likewise, the increasing gaps in inventory to sales (or absorption rate) seen over the past couple of years

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-69112038574521531752009-04-24T13:21:00.001-07:002009-05-01T06:27:34.499-07:00

The temperature today in Cincinnati rose above 80 degrees for the first time in a good while. While our springtime has been on the cooler side so far, folks will be trying out their air conditioners very soon.A recent Wall Street Journal article highlighted how some companies are poised to benefit from devices that manage peak energy demand such as those made by "Comverge". The devices reduce or

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com1tag:blogger.com,1999:blog-2103169427227386190.post-89256578339915012872009-04-19T14:11:00.000-07:002009-04-30T13:02:37.865-07:00

Looking to refinance your current mortgage? Expect delays ahead. Local lenders I've been talking to in the Cincinnati area are all singing the same tune: they are swamped with people trying to refinance their homes, and those that can refinance will have lots of additional scrutiny to get approved.Several events have mortgage lenders log-jammed:Rates have reached historic low levelsFirst-time

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-90310835420035312722009-03-26T13:08:00.000-07:002009-03-28T14:50:28.188-07:00

Have you thought about getting an energy audit, but not sure whether it's worth the time and expense? And what about the different types of audits? Should you do one on your own, get a "free" audit from the utility company, or pay a certified auditor for an evaluation that includes a "blower door test" and possibly thermal imaging?Self-evaluations and Free testsWhether doing your own audit or

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-43792000844735983552009-03-24T08:08:00.000-07:002009-03-25T10:49:33.631-07:00

Buyers waiting for a bottom in the housing market may be starting to dip their toes in the water. Some of the hardest hit markets (i.e., California, Arizona, and Florida) are seeing a big upswing of investors buying foreclosures and existing home sales took their biggest month to month increase in 6 years.In the Cincinnati market, home sales - while still lower on a year to year basis - rose 22%

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-47229069274188721802009-03-14T13:58:00.000-07:002009-03-29T06:38:35.787-07:00

Hoping to save some money this year by starting a garden? I keep hearing this notion bandied about, and I admit I'm jumping on the bandwagon too.The victory gardens popular during World War II have seemingly made a comeback with the downturn in the economy and the focus on locally grown food. While the motivation is a little different this time around, it nonetheless could make productive use of

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-70666209486412161212009-02-27T13:43:00.000-08:002009-03-01T11:04:34.438-08:00

Although we saw an increase in showing activity during January, it seemed many potential buyers were in a wait and see mode as the inventory absorption rate spiked upwards to 14.4 months and sales took a hard dip to their lowest January rate since 1996 with 912 total sales.January absorption rate chartJanuary sales chartWhile some of the January figures are at least seasonable in nature, other

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-12219155367436777102009-02-26T08:36:00.000-08:002009-03-01T11:17:24.027-08:00

With the weather still on the cold side, you're probably not thinking much about how to keep your house cooler during the summer. Although most of us don't think about ventilation until those hot and humid days, good home ventilation is important year round.Attic ventilation is important for several reasons. In the summer it's important to move heated, stale air out of an attic space that would

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-88592370621656274652009-02-06T06:36:00.000-08:002009-02-06T06:42:59.262-08:00

With an abundance of foreclosures on the market and the current stock market a somewhat iffy proposition, many investors are taking a look at available foreclosures and short sales to see if housing is a better place to put their money. There are definitely deals to be had, but before you leap into this market consider these issues:Are you looking for short-term or long-term opportunities? This

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-79292967754860902862009-01-27T11:19:00.000-08:002009-01-29T13:11:58.002-08:00

If you are concerned about your home being more energy and eco-friendly, then you may have already heard of the LEED (Leadership in Energy and Environmental Design) certification some builders are pursuing for their new homes. While only a handful of homes in the Cincinnati metro have been certified, its time to ask whether the certification is worth it, if it will be the standard to follow, and

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-52268112508319877202009-01-23T09:49:00.000-08:002009-01-26T08:04:00.021-08:00

December and 2008 numbers are in, and, as you’d expect, the Cincinnati housing market shows a considerable slowing of transactions for the year. On the plus side, the “absorption rate” – or how much inventory is available at the current sales rate – fell to 10.4 months in December. This is better than December 2007’s rate of 10.8 months and a good drop after November spiked to 12.6 months. Some

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-7956415830595220622009-01-14T13:14:00.000-08:002009-01-29T13:09:50.531-08:00

The new year dawns and our minds inevitably turn to….taxes. Perhaps one of the lesser highlights of the year, but an important one nonetheless. If you are a homeowner, then you should be aware of the following tax-related issues.Ohio Homestead exemption: This special allowance enables homeowners that are disabled or senior citizens to shield $25,000 of home value from property taxes. The

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-42700682106882597842008-12-28T07:57:00.000-08:002008-12-28T08:15:40.190-08:00

Anyway you cut it, November was a tough month all around. Along with the stock market, housing numbers took some sharp turns. Finding the bright spots was challenging at best if you are or were trying to sell into this market. Buyers, on the other hand, had their pick of the litter.In the Cincinnati area, the level of inventory vs. sales was up steeply to 12.2 months in November, while the number

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-30870090252746485952008-12-20T09:10:00.000-08:002008-12-29T12:59:05.172-08:00

Since Treasury announced a $600 Billion effort to buy Fannie and Freddie mortgage-backed securities and the Federal Reserve dropped the federal funds target rate, mortgage rates have dropped like a stone to levels not seen since the 1960’s. This past week saw occasions where conventional mortgage rates were below 5% and FHA rates were in the low 5’s. Refinancing spiked on the news as many

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-19686520881130526102008-12-13T07:41:00.000-08:002008-12-13T07:46:19.528-08:00

Many folks have discovered the energy and safety benefits of LED (light-emitting diode) Christmas lights this season, but what about their use for other home lighting purposes? With more LED lighting products entering the market, maybe it’s time to evaluate whether they make sense for your use around the house.First, consider that compact fluorescent lightbulbs (CFLs) have made significant

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com1tag:blogger.com,1999:blog-2103169427227386190.post-78152247562836090072008-11-29T11:03:00.001-08:002008-11-29T14:03:03.851-08:00

After a few months of inventory making headway towards a more balanced market, October showed a bit of backsliding on that trend. Along with troubles in the financial market, we were also hit with a windstorm that effectively sidelined activity for a week. Inventory for October increased to 10.4 months. That is, at current sales rates, it would take 10.4 months to clear out all inventory on the

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-83464271512176245742008-11-18T08:12:00.000-08:002008-11-29T16:24:10.643-08:00

Energy Improvement Mortgages can reduce the cost of ownership when you purchase a home, but what if you don’t plan on moving anytime soon? This month I take a look at some options for making home improvements that can increase the value of your current home while also increasing your monthly cash flow. (To learn more about energy efficiency mortgages, visit the EEM Homeowner Guide website)Below

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-46279461819085407192008-10-29T10:04:00.000-07:002008-10-29T10:13:04.627-07:00

The Emergency Economic Stabilization Act of 2008 (perhaps better known as the “bailout” bill) included several provisions for energy efficiency and conservation tax credits. Among these is a tax credit of up to 30% for use of renewable energy systems in homes including wind turbines and geothermal heat pumps. (See a summary of the enacted bill.)While geothermal heat pumps have been around since

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-88570803548554142452008-10-18T08:00:00.000-07:002008-10-30T08:30:43.580-07:00

Can anyone buy a house anymore? You’d think not with the indication that credit markets are frozen and the media suggesting that “main street” can’t get loans. Just in the past few days, the Ohio Housing Finance Agency (OHFA), an agency that focuses on helping first time homebuyers around the state, temporarily suspended its down payment assistance program. The reason given was that the agency

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-75501833507503995292008-10-09T12:06:00.000-07:002008-10-31T13:10:26.991-07:00

Duke Energy has a request for a 6% increase in utility rates and the Energy Information Administration is predicting 15% average increases in “space heating fuels” this winter (UPDATE: as of Oct. 27th, agreements were reached setting a 2% increase in Duke electricity generation rates from 2009 - 20011.)Unless you heat with wood or solar energy, you are likely to be impacted to some extent by cost

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-91702630619337517482008-09-29T09:12:00.000-07:002008-09-29T14:27:03.827-07:00

August real estate activity for the Cincinnati area looked very tough if you were on the sell side of things. Market activity was down across the board relative to August of '07 and the previous month. Notably, August usually sees a bit of an uptick from July. The fact that we didn't see that suggests consumers overall are very nervous about the economy. However, when you compare the number of

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-21705709287157279762008-09-25T10:59:00.000-07:002008-09-25T11:03:41.637-07:00

Know the difference - Efficiency vs. Conservation. Two sides of the same coin, but definitely different approaches to saving on energy costs. Efficiency is based on improving the way we use our resources such as replacing incandescent lights with compact fluorescents. Conservation, on the other hand, requires behavioral changes in the way we use our resources such as ensuring that you turn off

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-67500298250272699872008-09-18T08:05:00.000-07:002008-09-25T12:05:08.693-07:00

With the stock market seemingly schizophrenic, it’s fair to ask – where are you investing these days?If you knew you could make at least 10% return on your investment, would you do it? What about 20%? Higher? Most of us are overlooking the easiest return on investment we can make – in our homes. And no, I’m not talking about updating your kitchen – but in the most basic place imaginable – our

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-54769978439368373982008-08-30T13:15:00.000-07:002008-09-01T12:37:07.676-07:00

While homes sales remain at a slower pace than the past few years, the media seems to finally be finding some silver linings in the storm clouds. The most positive factor that was identified in the past couple of weeks was that July homes sales were up 3.1% from June nationally. Yes - this was down 13.2% from last year, but sometimes you find your good news where you can. Cincinnati remains quite

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-76129973895176232612008-08-29T06:44:00.000-07:002008-08-30T13:34:23.759-07:00

While the first-time buyers tax credit was a significant part of the recently passed housing recovery act, the bill included several other elements that shouldn't be overlooked.One that I believe is key is that it gives a boost to Energy Efficient Mortgages. While no changes are imminent, the act requires the Secretary of Housing and Urban Development (HUD) to develop recommendations to eliminate

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-51338559088818974792008-08-26T12:49:00.000-07:002008-08-26T12:53:29.299-07:00

Most of you have probably heard about "tankless" or on-demand water heaters by now. So are they worth the extra money? (If you aren't familiar with them - check out the Department of Energy guide)Our water heater began the death spiral a few months ago and we decided to spend the extra cost to install a tankless heater. I can confidently say that I have no qualms about the decision. We considered

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-7180855877291743602008-08-20T09:52:00.001-07:002008-08-20T11:11:37.990-07:00

Biggest buyers market in a generationMortgage rates still at historic lowsHousing stimulus bill provides up to $7500 tax creditFHA loans readily available with 3% down (3.5% after Jan. 1, 2009) and increased ceilingsThese are just some of the incentives that first-time buyers have to buy a home now. Not to mention the fact that with the number of foreclosures on the market, that many homes can

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-50982237237493686052008-08-05T10:04:00.001-07:002008-08-05T11:36:41.174-07:00

Builder survival in a buyers marketThe buyers market has many builders taking it on the chin as new home sales (annualized) dropped to 530,000 in June from a high of 1.2 million in 2007. Surprising, perhaps, is that few builders have gone into bankruptcy during this time. So, how have they managed to do it?Many have gone through significant cutbacks in operations and staff. Some of the larger

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-31005885894888393352008-08-05T10:03:00.000-07:002008-08-05T10:04:18.793-07:00

Understanding "Total Cost of Ownership"Did you buy a home without realizing how much utilities, Homeowners Association fees, maintenance, insurance, and other costs added to your monthly housing budget? Many homebuyers look only at the price and later realize that "charming" older home will cost them $400 a month in the winter to heat.It's easy to get caught up in the excitement of a new home

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-54639248752081040752008-08-05T10:02:00.000-07:002008-08-05T11:35:35.968-07:00

Creating an "Energy Budget"Do you know what you are spending on utilities each month? While gas prices are in the headlines everyday, you might not know that natural gas prices are expected to increase approximately 60% on an average basis between 2007 and 2008 (see the EIA Short Term Outlook). Even if you have a budget to manage your bills, your budget could easily be blown by energy cost

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-88061670401592021732008-07-01T10:01:00.000-07:002008-08-05T10:02:27.566-07:00

Positive trends continue into MayThe Cincinnati market continues to show resilience in the face of larger economic pressures.Following is an excerpt From the Cincinnnati Area Board of Realtors June 26th Press Release:"Local Realtors sold 1,913 homes last month, marking the fourth consecutive month of increased sales this year. The inventory of unsold homes also improved, shrinking to 8.38 months

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-71192483626741361812008-07-01T10:00:00.000-07:002008-08-05T11:32:18.874-07:00

HUD offers homes with $100 down paymentThe department of Housing and Urban Development has an incentive program through 9-30-08 for owner-occupied homes with FHA financing through approved lenders. The incentive allows you to purchase the home with as little as $100 down AND another $2500 to use on repairs, closing costs, or to lower the mortgage amount.What is a HUD home? These are homes

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-8437294522514271232008-07-01T09:59:00.000-07:002008-08-05T11:31:41.256-07:00

Stay cool and conserve energy at the same time!Well, the hot weather did finally arrive. To help stay cool and improve your home's efficiency check out this great interactive guide: Energy Star 'At Home Guide' Those of you in older, 2-story homes where the upper floor gets very warm in the summer may find that correcting the ventilation in your attic can be an inexpensive way to cool your home

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-17037766423162412042008-06-01T09:57:00.001-07:002008-08-05T09:58:25.718-07:00

Local market gaining steamAs highlighted in last month's newsletter, we are seeing positive trends develop in inventory and number of sales that run somewhat counter to the larger national trends. Local Realtors sold 1,635 homes last month, marking the third consecutive month of increased sales this year. The inventory of unsold homes also improved, shrinking to 9.49 months compared to 9.75

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-16607884467390177592008-06-01T09:57:00.000-07:002008-08-05T11:30:32.446-07:00

Programs available to help first-time buyers and owners hit by adjustable ratesMany government and finance organizations are trying to help clean up some of the housing mess. Really!In Ohio, the Ohio Housing Finance Agency (OHFA) has both loan and grant programs to assist first-time buyers as well as those individuals that are getting in trouble from an adjustable rate mortgage. These assistance

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-30851704617473053962008-06-01T09:55:00.000-07:002008-08-05T11:28:50.626-07:00

Get paid for Energy EfficiencyAs ironic as it may seem, energy companies are working hard to have consumers use less energy or at least use it more efficiently. Existing grid systems are straining at capacity during the summer cooling seasons. Coupled with the high cost of building new generating plants and the occasional need to use rolling blackouts to manage loads, promoting conservation is

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-61741924537011112722008-05-01T11:20:00.000-07:002008-08-05T11:21:45.408-07:00

Prepare your home for cooling seasonWarm weather inevitably means we'll be hearing the hum of those AC compressors soon.To get the most from your air conditioning, make sure your air filter is kept clean. Keeping the filter clean can lower your air conditioner's energy consumption by 5%-15%. Cleaning the evaporator and condensor coils is also a must to ensure that the unit can absorb heat

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-73024154295679593022008-05-01T08:12:00.000-07:002008-08-05T08:13:42.246-07:00

Have we peaked?March saw a year over year drop of 27% in the number of new homes coming on the market in the Cincinnati MLS. The January to March quarter had a 10% drop from 2007 to 2008 and it's the first drop in March inventory since the year 2000.The high inventory of homes has been a significant factor in creating the "buyers market" we've experienced since 2006. Getting a reduction in

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0tag:blogger.com,1999:blog-2103169427227386190.post-85975192608154288742008-05-01T08:09:00.000-07:002008-08-05T11:16:06.070-07:00

FHA Mortgages Storm BackAs the credit crunch continues to play out, our old friend, the FHA (Federal Housing Administration) mortgage, has re-emerged and is playing a significant role in the current housing market. And, as the saying goes, this ain't your father's FHA.To begin with, the limits for the Cincinnati area (including Hamilton, Butler, Clermont, and Warren counties) have been raised to

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.comtag:blogger.com,1999:blog-2103169427227386190.post-34847229453361937432008-04-01T07:57:00.000-07:002008-08-05T08:09:40.833-07:00

Spring means getting back out in the yard and fixing up the landscape. One way of adding value to your home and saving energy at the same time is planting deciduous trees at strategic locations around your home.Deciduous trees properly located can block much of the harsh sunlight from your home in the summer while allowing sunlight to warm your home in the winter. Mature trees also add great curb

Tim McDonaldhttp://www.blogger.com/profile/07396369065278085805noreply@blogger.com0