Cincinnati Homes for Sale (Daily activity report-Weekend Review)

New Listings 228  
Back on Market 43  
Price Increases 6  
Price Reductions 211  
Pendings 200  
Solds 120  
Expireds 30  
Inactives 40  

The last weekend of the tax credit produced a high water mark for pending activity since we started reporting these numbers last summer. 200 pendings over the weekend shattered the previous high mark by over 20 homes, 181 in October 09.

The Home Finder Network was successful in helping dozens of buyers and sellers come together during the tax credit period. We have expanding our database and are in the process of working several other project. We want to extend our gratitude to all that have been apart of our business during the past 12 months and we look forward to helping families for years to come.

REO banks requiring to use their title company…

 
 
Banks selling their REO property often require that the buyer use the bank’s title company for the closing.Is this intelligent?The Bank’s foreclosure title agencies seem overwhelmed and have been missing liens in the foreclosure actions. Unfortunately, if they handle the closing afterward they often don’t double-check their work. They simply update the title, looking for new items which may have shown up. This means they can’t tell if they missed something or not.Here are just a few bank-owned issues we have encountered in the last couple months;
1. A second mortgage for $62,000 was missed.
2. A second mortgage for $110,000 was missed.
3. A Federal Tax lien for $10,000 was missed.
4. The bank took a deed from the owner, then tried to sell it with a $1,200,000 lien still on the property,
5. The bank had their title agency close a deal in which the bank didn’t own the property yet, and the buyer could have lost it.   The bank bid on the property in the sheriff sale, but sold the property immediately after, months before the confirmation was filed and the deed recorded. Even as a successful bidder the bank doesn’t own the property until the confirmation is filed and the deed is recorded.   Until that time, the prior owner can get it back, usually with the help of a relative. The confirmation was not filed for months after the bank sold it. The closing should never have occurred until the Bank took title.The buyer was contemplating suing everyone, including their Realtor.Take Control! If you have the opportunity, the agent can push back and control the situation by choosing the Title Agency

Published in: on April 27, 2010 at 07:31  Leave a Comment  

Cincinnati Homes for Sale (Daily Activity Report)

New Listings 196  
Back on Market 30  
Price Increases 10  
Price Reductions 181  
Pendings 147  
Solds 59  
Expireds 38  
Inactives 40  

Cincinnati Homes for Sale (Daily Activity Report)

New Listings 206  
Back on Market 34  
Price Increases 8  
Price Reductions 256  
Pendings 159  
Solds 74  
Expireds 37  
Inactives 55  

Ohio Data Unemployment Map by County (March 2010)

 

Click Link to review Map pdf.

Ohio unemployment Rate Map by County

Hamilton and Warren have caught up with Butler Counties locally, however Clermont County has reached a high by surpassing the other 3 by over 1%.

Published in: on April 21, 2010 at 14:54  Leave a Comment  

Ohio Data Report (March Unemployment Rate)

 

Ohio and U.S. Employment Situation (Seasonally Adjusted)

Ohio’s unemployment rate rose to 11.0 percent in March, up from 10.9 percent in February, according to data released this morning by the Ohio Department of Job and Family Services. Ohio’s nonfarm wage and salary employment increased 4,900 over the month, from 4,996,600 in February to 5,001,500 in March.

"There was little change in Ohio’s job market during March.," ODJFS Director Douglas Lumpkin said. "The number of Ohioans with jobs increased slightly as the unemployment rate edged up to 11.0 percent."

The number of workers unemployed in Ohio in March was 655,000, up from 648,000 in February. The number of unemployed has increased by 77,000 in the past 12 months from 578,000. The March unemployment rate for Ohio was up from 9.6 percent in March 2009.

The U.S. unemployment rate for March was 9.7 percent, unchanged from February.

Total Nonagricultural Wage and Salary Employment (Seasonally Adjusted)

Ohio’s nonagricultural wage and salary employment, at 5,001,500 in March, was up 4,900 from February according to the latest business establishment survey conducted by ODJFS.

Goods-producing industries increased 3,400 to 786,000. Manufacturing advanced 2,900 as a gain in durable goods (+3,400) exceeded a decrease in nondurable goods (-500). Construction added 500 jobs, while mining and logging was little changed. Service-providing industries rose 1,500 to 4,215,500. Improvements were posted in trade, transportation, and utilities (+2,800), other services (+1,600), and government (+1,400). Employment declined in financial activities (-2,600), leisure and hospitality (-1,500), information (-100), and professional and business services (-100). Total employment in educational and health services was unchanged.

Over the past 12 months, nonagricultural wage and salary employment fell 147,000. The goods-producing sector was down 74,500. Manufacturing employment dropped 44,500 due to losses in durable goods (-36,200) and nondurable goods (-8,300). The construction workforce declined 29,400. Mining and logging decreased 600. Employment in service-providing industries was 72,500 lower. The most significant declines occurred in trade, transportation, and utilities (-34,100) and financial activities (-18,600). Also down were professional and business services (-8,400), government (-6,000), information (-5,200), leisure and hospitality (-3,800), and other services ( 2,600). Educational and health services advanced 6,200.

EDITOR’S NOTE: All data cited are produced in cooperation with the U. S. Department of Labor. Data sources include Current Population Survey (U.S. data); Current Employment Statistics Program (nonagricultural wage and salary employment data); and Local Area Unemployment Statistics Program (Ohio unemployment rates). More complete listings of the data appear in the monthly Ohio Labor Market Review. Unemployment rates for all Ohio counties as well as cities with populations of 50,000 or more are presented in the monthly ODJFS Civilian Labor Force Estimates publication. Updated statewide historical data may be obtained by contacting the Bureau of Labor Market Information at (614) 752-9494 begin_of_the_skype_highlighting   (614) 752-9494 end_of_the_skype_highlighting. Ohioans can access tens of thousands of job openings, for positions ranging from file clerks to CEOs, at www.ohiomeansjobs.com.

News release dates

A calendar of 2010 release dates is available online at http://lmi.state.oh.us/laus/releases.htm County, city and metropolitan area unemployment rates for March 2010 will be posted online at http://lmi.state.oh.us/laus/current.htm on Tuesday, April 20, 2010. April 2010 unemployment rates and nonagricultural wage and salary data for Ohio will be released by ODJFS on Friday, May 21, 2010. This information and the monthly statistical summaries it is based on are also available at http://jfs.ohio.gov/releases.

- 30 -

Choose this link to view the table on the Ohio and U.S. Employment Situation.

For more Data Visit here: ODJFS – News & Events – Press Releases

Published in: on April 17, 2010 at 03:23  Leave a Comment  

ODOT Report: I-75 Mill Creek Expressway

 

Overall Project Update

The project environmental document was approved by the Federal Highway Administration in May 2009. Work on various phases is progressing. The first phase of work is scheduled to begin construction in the spring of 2010. This phase will construct the new Monmouth Street connection between Central Parkway and Colerain Avenue. ODOT has begun the Right-of-Way acquisition process on the first four phases in the corridor. Design of the Mitchell Ave. phase and Colerain/Beekman phases will be completed in August 2010. Hopple Street interchange phase design is approximately 50% complete. Phase 6 design is approximately 40% complete. Final design of phases 5 and 7 is scheduled to begin in spring 2010. At this time, construction and design funding for phase 8 has not been identified.
Phase 2, the Monmouth overpass phase, is being funded through the American Recovery and Reinvestment Act.   

Corridor Project Phasing and Schedule

Due to cost, constructability, and time constraints, the Mill Creek Expressway project has been split into eight phases of construction. The following table provides a brief description of each phase and tentative major milestone dates:

Phase

Project Description

Construction Cost (million)

Right-of-Way Acquisition Start

Construction Start

Construction End

1

Mitchell Ave. Interchange

$57.7

Started

March 2011

August 2014

2

Monmouth St. Overpass

$7.1

Started

April 2010

October 2011

3

Colerain/Beekman/I-74 Interchange

$8.8

Started

May 2011

September 2012

4

I-75 from Western Hills Viaduct to Monmouth Overpass (includes Hopple Interchange)

$99.6

Started

March 2013

August 2016

5

I-75 from Monmouth Overpass to Mitchell Ave. (includes I-74 Interchange and I-74 improvements)

$150.2

October 2011

March 2015

August 2018

6

RR Overpass South of Norwood Lateral

$21.4

August 2010

March 2014

September 2015

7

I-75 Mainline from Mitchell Ave. to the Norwood Lateral

$39.1

July 2011

March 2016

May 2018

8

I-75 Mainline from the Norwood Lateral to Cross County Highway

$148.1

August 2014

March 2018

May 2020

Revive Cincinnati Effort:

ODOT is participating and assisting this City-led effort by providing information on our projects in the Hamilton I-75 corridor. As results and recommendations are adopted by the City, ODOT will work with the various partners to incorporate them when feasible.

For More on the Project visit here: I-75 Mill Creek Expressway

Published in: on April 16, 2010 at 17:53  Leave a Comment  

ODOT report (District 8 Southwest Ohio)

We are adding some more topics to discuss in our weekly blog:

  • Road construction and major passage projects.
  • Future local government plans and projects that could be an impact to your community. 

4/15/2010 

Lane Closures Scheduled for I-75/Monmouth Street Overpass Work

HAMILTON COUNTY (Thursday, April 15, 2010) – Lane closures for next week to accommodate work to reconstruct

the Monmouth Street overpass at Interstate 75 are as follows:

Monday, April 19: Right two lanes northbound I-75, closed from 10 p.m. to 5 a.m.

Ramp from Bates Avenue to westbound I-74, closed from 10 p.m. to 5 a.m.

Tuesday, April 20:  Left two lanes of north and southbound I-75 from 10 p.m. to 5 a.m.

Wednesday, April 21: Right two lanes of southbound I-75 from 10 p.m. to 5 a.m.

This work at the I-75/Monmouth Street overpass is the start of the $664 million Interstate 75 Mill Creek Expressway Project, which will improve traffic flow and enhance safety of the I-75 corridor from the Western Hills Viaduct to north of the Paddock Road interchange in Hamilton County. Over the course of 10 years, construction will rehabilitate eight miles of existing lanes and construct an additional lane in each direction.

The Monmouth Street work will remove and reconstruct the overpass, and reconstruct and convert Monmouth to a local through street between Central Parkway and Colerain Avenue. In addition, the Bates Avenue Bridge and the pedestrian bridge between Colerain Avenue and Central Parkway will be removed to clear overhead obstruction to future construction on I-75. Work on the new overpass is to be completed by Sept. 30, 2010, with completion of the entire phase scheduled for Aug. 31, 2011. The Great Lakes Construction Company was awarded the $7.192 million contract.

I-75 Lane Closures Scheduled for Monmouth Work

Published in: on April 16, 2010 at 17:47  Leave a Comment  

Employment Situation Summary (US)

 

Ohio State Report is scheduled to be released later today 4-16 and the county map breakdown released 4-20. We will update both reports upon release.

THE EMPLOYMENT SITUATION — MARCH 2010

Nonfarm payroll employment increased by 162,000 in March, and the unemployment
rate held at 9.7 percent, the U.S. Bureau of Labor Statistics reported today.
Temporary help services and health care continued to add jobs over the month.
Employment in federal government also rose, reflecting the hiring of temporary
workers for Census 2010. Employment continued to decline in financial activi-
ties and in information.

Household Survey Data

In March, the number of unemployed persons was little changed at 15.0 million,
and the unemployment rate remained at 9.7 percent. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (10.0 per-
cent), adult women (8.0 percent), teenagers (26.1 percent), whites (8.8 per-
cent), blacks (16.5 percent), and Hispanics (12.6 percent) showed little or no
change in March. The jobless rate for Asians was 7.5 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) in-
creased by 414,000 over the month to 6.5 million. In March, 44.1 percent of
unemployed persons were jobless for 27 weeks or more. (See table A-12.)

The civilian labor force participation rate (64.9 percent) and the employment-
population ratio (58.6 percent) continued to edge up in March. (See table A-1.)

The number of persons working part time for economic reasons (sometimes re-
ferred to as involuntary part-time workers) increased to 9.1 million in March.
These individuals were working part time because their hours had been cut back
or because they were unable to find a full-time job. (See table A-8.)

About 2.3 million persons were marginally attached to the labor force in March,
compared with 2.1 million a year earlier. (The data are not seasonally adjusted.)
These individuals were not in the labor force, wanted and were available for
work, and had looked for a job sometime in the prior 12 months. They were not
counted as unemployed because they had not searched for work in the 4 weeks pre-
ceding the survey. (See table A-16.)

Among the marginally attached, there were 1.0 million discouraged workers in
March, up by 309,000 from a year earlier. (The data are not seasonally adjusted.)
Discouraged workers are persons not currently looking for work because they be-
lieve no jobs are available for them. The remaining 1.3 million persons margin-
ally attached to the labor force had not searched for work in the 4 weeks pre-
ceding the survey for reasons such as school attendance or family responsibili-
ties. (See table A-16.)

Establishment Survey Data

In March, nonfarm payroll employment rose by 162,000. Job growth continued in tem-
porary help services and in health care. Federal government employment increased
due to the hiring of temporary workers for Census 2010. Job losses continued in
financial activities and in information. (See table B-1.)

Temporary help services added 40,000 jobs in March. Since September 2009, tempor-
ary help services employment has risen by 313,000.

Employment in health care continued to increase in March (27,000), with the larg-
est gains occurring in ambulatory health care services (16,000) and in nursing and
residential care facilities (9,000).

In March, employment in mining increased by 8,000. Monthly job gains in mining
have averaged 6,000 over the past 5 months.

Employment in federal government was up over the month, reflecting the hiring of
48,000 temporary workers for the decennial census.

Manufacturing employment continued to trend up in March (17,000); the industry has
added 45,000 jobs in the first 3 months of 2010. Over the month, job gains were
concentrated in fabricated metal products (9,000) and in machinery (6,000).

Employment in construction held steady (15,000) in March. The industry had lost an
average of 72,000 jobs per month in the prior 12 months.

Over the month, employment changed little in transportation and warehousing,
leisure and hospitality, retail trade, and wholesale trade.

In March, financial activities shed 21,000 jobs, with the largest losses occur-
ring in insurance carriers and related activities (-9,000). Employment in the
information industry decreased by 12,000.

The average workweek for all employees on private nonfarm payrolls was up by
0.1 hour to 34.0 hours in March. The manufacturing workweek for all employees
increased by 0.2 hour to 39.9 hours, and factory overtime was up by 0.1 hour
over the month. In March, the average workweek for production and nonsuper-
visory employees on private nonfarm payrolls increased by 0.2 hour to 33.3
hours. (See tables B-2 and B-7.)

In March, average hourly earnings of all employees on private nonfarm payrolls
fell by 2 cents, or 0.1 percent, to $22.47, following a 4-cent gain in February.
Over the past 12 months, average hourly earnings have risen by 1.8 percent. In
March, average hourly earnings of private production and nonsupervisory employ-
ees fell by 2 cents, or 0.1 percent, to $18.90. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised from
-26,000 to +14,000, and the change for February was revised from -36,000 to
-14,000.

____________
The Employment Situation for April is scheduled to be released on Friday,
May 7, 2010, at 8:30 a.m. (EDT).

 

For more data visit here: Employment Situation Summary

Cincinnati Homes for Sale (Daily Activity Report)

New Listings 237  
Back on Market 12  
Price Increases 6  
Price Reductions 230  
Pendings 126  
Solds 66  
Expireds 4  
Inactives 46  
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