A very good article on what buyers should know about a distressed home, also known as a bank owned or foreclosed home.
i694g.th8.us: http://realestateinvestordaily.com/foreclosures/think-that-a-foreclosed-home-…
See a detailed sales report for all of the Cincinnati MLS by suburb including sales units and avg sale prices.
Notes on high avg sale price and volume.
The headline for the week was the FED increased the Discount Rate by .25 of a point. This has no immediate correlation to mortgage rates, however does indicate that the FED is starting to put a strategy in place where we will start to see a gradual increase in over-all interest rates. The over-all out look for interest rates is bearish while equity markets continue a more bullish view. The FED will be very cautious not to let interest rates rise in a dramatic way seeing that the housing market though improving is still weak as short sales and foreclosures still are a higher percentage of sales especially in certain areas throughout the country. Rates over-all for the week ended at 5.125% on average (again depending upon credit score and loan to value). For first time buyers the FHA 5 year ARM program is becoming more popular with start rates in the range of 3.625 to 3.750%. Have a great weekend!
| New Listings | 147 |
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| Back on Market | 25 |
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| Price Increases | 16 |
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| Price Reductions | 112 |
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| Pendings | 108 |
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| Solds | 58 |
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| Expireds | 54 |
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| Inactives | 26 |
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New Listings: 147
Avg LP: $185,022
Pendings: 108
Avg LP: $145,112
Solds: 58
Avg SP: $170,533
These numbers are more like it for weekend stats. 108 Pendings is strong considering the weather we have experienced in our local market over the past few days.
| Reference Month | Ohio Press Release Date | Substate Release Date |
|---|---|---|
| January 2010 | Friday, March 5, 2010 | Tuesday, March 9, 2010 |
| February 2010 | Friday, March 19, 2010 | Friday, March 26, 2010 |
| March 2010 | Friday, April 16, 2010 | Tuesday, April 20, 2010 |
| April 2010 | Friday, May 21, 2010 | Tuesday, May 25, 2010 |
| May 2010 | Friday, June 18, 2010 | Tuesday, June 22, 2010 |
| June 2010 | Friday, July 16, 2010 | Tuesday, July 20, 2010 |
| July 2010 | Friday, August 20, 2010 | Tuesday, August 24, 2010 |
| August 2010 | Friday, September 17, 2010 | Tuesday, September 21, 2010 |
| September 2010 | Friday, October 22, 2010 | Tuesday, October 26, 2010 |
| October 2010 | Friday, November 19, 2010 | Tuesday, November 23, 2010 |
| November 2009 | Friday, December 17, 2010 | Tuesday, December 21, 2010 |
| December 2010 | Friday, January 21, 2011 | Tuesday, January 25, 2011 |
| New Listings | 61 |
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| Back on Market | 11 |
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| Price Increases | 3 |
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| Price Reductions | 60 |
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| Pendings | 32 |
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| Solds | 15 |
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| Expireds | 23 |
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| Inactives | 10 |
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We will build a more detailed report tomorrow as in normal entries. Todays numbers may not reflect actual weekend activity because many office support staff market wide did not report in recognition of Presidents Day. We will review MLS data as normal with tomorrows blog.
