Market Update-Greater Cincinnati MLS (Weekend Review)

New Listings 183  
Back on Market 32  
Price Increases 11  
Price Reductions 90  
Pendings 79  
Solds 62  
Expireds 25  
Inactives 55  

There was a noticable update on the new inventory today- We noticed a large output of distressed/bank owned inventory.

The avg LP on the active residential was $158,573, however several pockets of distressed properties did enter the marketplace today. The investment group we advise experienced a full inbox in their portfolio prospecting system today.

Another note to make on the active there were 30 land/lot only listings made active today. Mainly over 12 lots in Perry Township of Brown County. For more information pertaining to these buildable lots contact us direct.

79 Pendings

Avg LP-$122,920

62 Solds

Avg SP-$152,415

Market Update-Financials (Interest Rates)

From the desk of Bob Klorer:

 

Mortgage rates continue to trade in a narrow range with 30 year fixed rates averaging 4.875 to 5.00%
 
New RESPA guidelines are the focal point of most lenders and investors as the required changes are to take effect beginning of the year…however we are implementing the new disclosures tomorrow in advance of the mandated change date.
 
Our $300 closing cost discount continues thru year end…if you should need any assistance or have any questions regarding any of the upcoming RESPA changes please feel free to contact me at anytime.

Published in: on December 15, 2009 at 03:22  Leave a Comment  
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