First Time Home Buyers in the Greater Cincinnati and Northern Kentucky Real Estate Market

Almost everybody has a dream home. A place they like to wander through in their thoughts, choosing imaginary wallpaper and putting in imaginary skylights. But for too many people, dream Cincinnati / Northern Kentucky homes remain just that--dreams. The reality of owning their own home never seems to become theirs.

Once you have figured out what kind of home are looking for, the next thing to do is to search for the best possible deal. Although this is the toughest part of the whole home buying process, doing your homework certainly does help. There are two ways of doing this. Searching on your own or by hiring a Cincinnati / Northern Kentucky real estate agent and letting them do the hard work for you! Leverage their experience!

In case you are looking to do it yourself, here are a few tips that would certainly help.

Know Your Rights as a Homebuyer.

Before you start, there are many laws that protect you from scams, unnecessary expenses, and discrimination in the process of homebuying.

Know your rights!

Find out How Much Mortgage Can You Afford .

You can save yourself a lot of wheel-spinning if you take a minute to figure out how much mortgage you can afford. Generally, a lender will want your monthly mortgage payment to total no more than 29% of your monthly gross income (that's your monthly income before taxes and other paycheck deductions are taken out.) You also need to consider current loan interest rates. The lower the interest rate, the more expensive the home you'll be able to afford. Follow our tips and use these simple calculators to see how much you can afford in a mortgage payment.

Create Your "Wishlist"

Make your Wish Lst. Focus on the features you want in a home: 2 bedrooms or 3? 1 bath or 2? Garage or no garage? Knowing what you're looking for will help you focus your search. And it will help your Cincinnati / Northern Kentucky real estate broker, too.

Research, Research and Research!

The easiest way to do this is the Internet! The best way to find what you should expect for your hard earned money is to surf all the Cincinnati and Northern Kentucky real estate sites and see what is available in your price range! Make a Short list of all the houses that meet most of your (written down) requirements.

Searching Tip

Searching for Cincinnati and Northern Kentucky real estate over the net is so much easier than browsing a newspaper because you can key in your personal search criteria and don't have to be bothered with the vast number of listings that aren't for you. Internet Cincinnati and Northern Kentucky real estate sites offer customized search options that allow you to zero in on your key requirements.

Local newspapers would be a better bet in case you are looking to buy a house in the same locality. Sunday newspapers generally have a number of good listings.

Make appointments to look at all the short listed houses.

Make sure that you visit each and every house short listed. Call the landlord well in advance and set up an appointment. Don't shy away from taking as many inspections as you want.

You can find out by asking yourself some questions:

Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable?

Do I have a good record of paying my bills?

Do I have few outstanding long-term debts, like car payments?

Do I have money saved for a down payment?

Do I have the ability to pay a mortgage every month, plus additional costs?

If you can answer "yes" to these questions, you are probably ready to buy your own home.
If I can be of help to anyone looking to buy their first home in either Greater Cincinnati or Northern Kentucky, please don't hesitate to call me anytime @ 513-315-9295. Please visit my websites http://www.sandybakst.com/ and http://www.cincihomesforsale.com/
Sandy Bakst - Licensed in both Ohio and Kentucky with Re/max Preferred Group.

Cincinnati and Northern Kentucky Real Estate

Well, it's the end of summer here in the tri-state area and real estate is starting, ever so slowly to come back. I think there is a lot of pain yet to be felt, but hopefully there will be some relief from the down turn in the Cincinnati and Northern Kentucky real estate market.

The condominium market has continued to stay slow, on both sides of the river. On the Northern Kentucky side, starting with the Ascent in Covington, Ky. The Ascent has sold many of their 70+ condos, yet there are over 25 on the market today starting at a price point of $419,000 going to $5,500,000. In Newport, Kentucky, the Southshore condo development is running full speed and expects to open in the fall of 2008. They have sold many, but have many more to sell. Next store in Bellevue, Kentucky there are 2 big condo developments going on. First there is Harbor Greene Condominiums, which has sold several, but for whatever reason, not only is the developer trying to sell units, but many residents are also trying to resell their condos. Not good for Harbor Greene. Next door in Bellevue, Ky is Waters Edge Condominiums. They have been selling rather well, as they have continued selling and is currently building their third building.

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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