Springboro, OH Real Estate News

By Jon Higgins, ABR
(Century 21 Elite Performance)
410 homes on the market in Springboro. and 28 pending.  Out of the 410 homes for sale 231 of them are in the price ranges of $200,000.00 to $400,000.00!  That's over half the market!  That's where you'll also find the highest concentration of days on market! These numbers are from June 1, 2008 to June 19, 2008.  At those numbers that is an 11 month absorption rate. Be sure to scroll down for additional Springboro market information under market updates.
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Active: 0  Pending: 0  Sold: 19  Other: 0  Total: 19    Bedrooms  Bathrooms  Square Feet  List Price  Selling Price  Days on Market  Minimum  3   1.00   1,008   $99,900   $100,000   20   Average  4   3.26   3,094   $326,928   $313,611   122   Median  4   3.00   2,515   $264,900   $260,500    95   Maximum  5   5.00   5,157   $715,531   $685,000   420   Total Dollar Value           $5,958,600      Average DOM Breakdown and Average % of List Price received on Solds by Market time:    0-30 Days   31-60 Days   61-90 Days   91-120 Days   120+ Days   No. of Listings   1    3    5    3    7   Breakdown %   5.26    15.79    26.32    15.79    36.84   Avg % SP/LP   95.73    98.18    95.56    96.35    95.36  These numbers are from June 1st to June 19th and are for all of Springboro.  Note how long...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
I remember all to well what it was like.  One thing to remember is start with one thing and stay on it.  Don't be like me and start one thing and your A.D.D. kicks in and you're like, "oh yeah, I need to fix that," "oops... after I fix that other thing," and oh look over there I need to address that.  Keep your focus.  Begin with the outside of the house.  Why?  Because once it's finished it will be easier pulling up to your house when you get home from work knowing that you have the inside to do.  Trust me... it will be something you see right away to give you a feeling of accomplishment.  Still others will argue to work on the outside of the house first, and unless there is a major project involved, they believe it is best to do it last. There are two main reasons for this. First, the...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
According the the National Association of Realtors many of you are planning just that this summer, and with all the negative talk about the market you're probably concerned.  Here are some ideas to help set your mind at ease. When conversing with real estate agents, you will often find that when they talk to you about buying real estate, they will refer to your purchase as a "home." Yet if you are selling property, they will often refer to it as a "house." There is a reason for this. Buying real estate is often an emotional decision, but when selling real estate you need to remove emotion from the equation. You need to think of your house as a marketable commodity. Property. Real estate. Your goal is to get others to see it as their potential home, not yours. If you do not consciously m...
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Are you ready to roll with another home buying lesson? Good, let's get started. Like it or not, there are 2 guidelines bankers and mortgage lenders use to determine how much loan you can afford. The first guideline is the Payment To Income Ratio.  This guideline compares your income - or your total household income - to the amount of mortgage payment you're considering. To calculate the "payment" part of the formula, the lender will take the mortgage payment (principal + interest) and add to it Property Taxes and Insurance.  Hence the term "PITI" (principal, interest, taxes, and insurance). Usually lenders will loan up to 28% of your total household income.      But before you think you're home free, there's something else you need to know... It's called the Debt To Income Ratio.  Debt ...
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I hope that you're enjoying these home buyer tips I'm sending. I really want to insure that I'm bringing value and that the information I'm sharing with you will help you save money and avoid a home buying mistake. OK, let's get on with this week's tip. Did you know that when you make an offer on a house the seller will ask you for a letter of pre-approval? If you don't have one and you're competing with other buyers for the same house, you could end up losing out on your dream home. The first step to understanding this is knowing the difference between pre-qualification and pre-approval. Many borrowers confuse being "pre-qualified" with being "pre-approved." Pre-qualification is a pretty casual process, where a lender tells you how much money you probably can borrow based on how much m...
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By Julie Beall, CRS
(Irongate Realtors)
One quality that distinguishes real estate agents who are committed to providing the very best service is the strength of their network.   Over the years I've built working relationships with a wide range of professionals who deal with every aspect of buying, selling, maintaining and improving a home. So whether we're talking about mortgages, legal issues, insurance, inspections, renovations, landscaping - you name it - I can refer you to an expert who I know provides high-quality service at a competitive price.   It has taken me some years to develop this network and I must say that I've always been very choosy about who I recommend to my clients. After all, I've worked hard to build my business and I put my professional credibility on the line every day.   So when you decide to sell, ...
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By Julie Beall, CRS
(Irongate Realtors)
It's been a crazy couple of years in the real estate market. We've seen just about every type of market just in the last 10 years alone. Understanding the type of market you're shopping for your new home in is vital for a couple of different reasons. First, and most importantly, the market type helps determine your offer price once you find a home you love. See, in a sellers market you'll likely be making a full or close to full price offer. The reason is very simple. In a sellers market there are more buyers than there are homes for sale. In fact, you may actually end up in a bidding war if the home has just come on the market. If you write an unattractive offer it will likely be rejected because the seller has the luxury of a surplus of buyers. The seller's decision is pretty simple. ...
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By Julie Beall, CRS
(Irongate Realtors)
Taken from your Springboro Expert at www.juliebeall.com. Please call Julie for more information Settled as early as 1796, Springboro was founded in 1815 by Jonathan Wright, a relative of the Wright Brothers, as "Springborough." Jonathan Wright's father, Joel Wright, was a surveyor who platted Columbus, Ohio. Springboro was predominantly Quaker during its earlier years. Springboro is known largely for its historical significance during the hiding of slaves through the system of the Underground Railroad due to a large portion of its residents holding an Anti-Slavery opinion. Achilles Pugh, in fact, published a local paper during this time called "the Philanthropist" to enrich the belief of abolishing slavery. In 1917 the town was set on fire by one old man jakens oil lamps. Luckily Ian Br...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
Dominate. I like that word, especially when it comes to out selling your competitors. We dominate Springboro.  We - being Coldwell Banker Heritage Realtors.  According to the Dayton Area Board of Realtors so far, this year, Coldwell Banker Heritage Realtorshas sold a total volume of over $20,000,000.00 in Real Estate in Springboro with a whopping 81 listings SOLD!  Irongate Realtors sold $12,739,400.00 with 50 listings sold. Sibcy Cline is coming in third at this time with $5,430,050.00. Now you do the math.  If you ad up the second and third place Real Estate companies in Springbororight now do they even add up to the numbers Coldwell Banker Heritage Realtors is cranking out? Bottom line is we're out selling Irongate in this market by around $8,000,000.00 and Sibcy Cline by around $14,...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
Well it's time for another update.  The market is down from this time last year. Yes - here in Springboro the market is down overall from this time last year.  Here's the how and why of it by the numbers.  So far in 2008, $37,545,327.00 in Real Estate has changed hands in Springboro with a whopping number of 141 sold.  The average list price (keeping in mind what I've discussed in past blogs about average LP to SP ratios) was $277,579.00 with an average sale price of  $266,279.00.   The average home size of what's been selling is 2500 square feet and it has taken on average 145 days to sell your home under the current market conditions. All of these numbers are up from this time last year. The break down of numbers this time last year is as follows.  $48,630,034.00 has sold with 182 hom...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
I've noticed something lately.  Have you noticed some of the extremely unfounded lowball offers lately? Now, I'm not talking to you if your seller hasn't competitively priced their home in relation to current inventory and past sales, I'm talking to the agent whose seller is fully informed and has done just that... inform their sellers and thus help them determine a competitive price that will bring in the offers.  It's as if the buyers agents have gotten their clients so geeked up on "getting a deal" and "getting a deal" means getting tons of money off of the last list price - and without looking at the market around them? If we were the sensitive type we might even get our feeling hurt thinking that the buyers agent must think we're dummies and we didn't do our homework for our seller...
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By Mark Ryan, Broker, CRS, ABR, CDPE
(Mark Ryan Group / Re/Max Victory)
Springboro / Dayton Ohio Real Estate Update April 2008 Good to see you back again for our Springboro Ohio Real Estate update, part of our Dayton Ohio Real Estate total market overview. As always this info is pulled from the Dayton Ohio MLSand will update the active homes for sale in Springboro Ohio real estate, Springboro Ohio homes that have sold, Springboro Ohio homes that failed to sell and Springboro homes that are pending sale. We also offer this info. in a very exciting automatic system that will update you on all Springboro Ohio real estate activity periodically in the time frame you choose! You can get all the instant information you need on any Dayton Ohio real estatemarket you wish in addition to Springboro at the click of a mouse. Get your Springboro Ohio real estate Market ...
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By Julie Beall, CRS
(Irongate Realtors)
May 5th, 2008 In April there were 81 new houses listed in the Springboro Clearcreek Township area and 36 homes closed and sold. Inventory is increasing again, but this is what you would expect this time of year.  The Avg. sale price was 281,710 for April.The % of sale to list price was 94.32%Prices ranged for $70,000 to $1,275,000.00 Buyers are still slow to move to the market. Again we are at record setting low prices and interest rates. With inflationary pressures pushing the economy I suspect interest rates will go up. Buyers must consider purchasing soon if they wish to benefit from the lower rates. If you have questions about the Springboro Market give me a call Julie Beall937-546-0222
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By Julie Beall, CRS
(Irongate Realtors)
Sometimes you see a development project and say here we go again! But sometimes you see a project and say Wow ,this will be great for my clients! I recently visited a new project in Lebanon Ohio that impressed me immensely. This is surely the biggest project to ever occur in Warren County. I do not have any business ties to this project but I hope to offer this as an option to many buyers in the future. The project is called The San Mar Gale. Their website although not full of information yet is awesome.  http://sanmargale.com/. I believe if done right we will finally have a place for all ages to settle in a wonderful relaxing lifestyle, something Ohio residents have needed for a long time. From what  I understand there will be 2100 lots, some will be 1 acreand some will be up to five a...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
In Springboro and under the current market conditions it will take 11 months to sell all of the current inventory on the market.  That according to statistics compiled in March.  That's 362 homes for sale and 28 pending and 35 solds in the month of March. Other than the obvious this means we're not completely out of the woods, but in contrast with the rest of the greater Dayton area market and it's absorbtion rate the story seems to be the same everywhere.  There's a lot of inventory on the market still. 
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By Jon Higgins, ABR
(Century 21 Elite Performance)
Remember when the foreclosures first started hitting the market and investors clamored on the court house steps?  Where did everybody go?  You know what that means?  I think it means hey... now is the REAL time to buy!  The only folks you see today on the court house steps are the banks buying back the loans.  Of-coarse that raises another issue, or sad tale for those insurance companies they're looking to have pay off the loan.  That's why you'll see the banks buy back at $114,000.00 and put it on the market for $100,000.00 a month later.  They're getting their money from the PMI Insurance and then looking for a quick buck by selling low.  Meanwhile yet another institution is down the drain.  The insurance companies.  You know... the ones whose stock was at one time $68.00 a share and ...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
Got a home listed in the 150's in Dayton?  Great.  That's the magic price range for the month of February.  Over 30 homes sold in that price range and there are fewer actually in that close proximity.  So far this year in fact the over 85% of homes sold in Dayton are under the $200,000.00 mark.  It's a hot price range. 
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By Jon Higgins, ABR
(Century 21 Elite Performance)
For months now the Springboro market has been either the top Dayton market or runner up.  It's been single handedly boosting revenue outselling other Dayton communities in volume 10's of millions per month.  But if you look at the list price to sales price ratios they lie.  Yes... that's right.  THEY LIE! Take for example; in the past six months there were 32 homes which sold that were listed between $400K and $600K.  Out of those 32 homes 14 of them sold for more than $50,000.00 less than the original list price and my of them were $70K, $80K, $90K and in one case the individual purchase their home one year ago for $429,000.00 listed it this year for $452,000.00 and SOLD IT FOR $350,000.00!  But if you look at the SP/LP numbers they're only from the last price reduction to the final sa...
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