Springboro, OH Real Estate News

By Julie Beall, CRS
(Irongate Realtors)
The Springboro area is experiencing a SLIGHT downward pressure on prices. The inventory has been at an all time high however we are seeing some leveling out of the supply of homes on the market. This means the number of listing on the market is decreasing slightly compared to what it was several months ago. We are looking for 2008 to be comparable to 2007. Incidentally 2007 was our fourth BEST year in real estate history. The GOOD NEWS is our local market is not crashing as you hear on the news media only correcting slightly.Personally, I am still selling a lot of homes in our area. They are taking longer to sell and are selling slightly lower than 2005 prices (peak of our market). For those wishing to sell, the best priced homes in the best condition are selling very fast. The others a...
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By Julie Beall, CRS
(Irongate Realtors)
The Springboro area is experiencing a SLIGHT downward pressure on prices. The inventory has been at an all time high however we are seeing some leveling out of the supply of homes on the market. This means the number of listing on the market is decreasing slightly compared to what it was several months ago. We are looking for 2008 to be comparable to 2007. Incidentally 2007 was our fourth BEST year in real estate history. The GOOD NEWS is our local market is not crashing as you hear on the news media only correcting slightly.Personally, I am still selling a lot of homes in our area. They are taking longer to sell and are selling slightly lower than 2005 prices (peak of our market). For those wishing to sell, the best priced homes in the best condition are selling very fast. The others a...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
What is a tax free or 1031 Exchange?A 1031 exchange, also known as a Starker Exchange, enables you to sell property and invest the proceeds into another without having to pay tax on the gain--you defer it.  And you can keep legally doing this over and over again.Reasons why people exchange investment real estate: Defer taxes that would otherwise be paid in a sale. Acquire property using the equity of a previously owned property as the down payment. Increase basis and possibly qualify for more depreciation. Create a more favorable financing situation. Diversify a portfolio. Consolidate a portfolio. Move investments to another geographic area. Relief from property management. The steps in the process are:1.  "Sell" your property.2.  Demonstrate your intent to do an exchange into like-kind...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
When you sell a stock, you owe taxes on your gain (the difference between what you paid for the stock and what you sold it for). The same is true with selling a home (or a second home), but there are some special considerations.How to Calculate GainIn real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate this:1. Take the purchase price of the home: This is the sale price, not the amount of    money you actually contributed at closing.2. Add Adjustments: Cost of the purchase-including transfer fees, attorney fees, inspections, but not points you paid on your mortgage. Cost of sale-including inspections, attorney's fee, real estate commission, and money you spent to fix up your home just prior to sale. Cost of improvements-in...
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 Real estate investment trustFrom Wikipedia, the free encyclopediaContentsA Real Estate Investment Trust or REIT (pronounced /ˈriːt/) is a tax designation for a corporation investing in real estate that reduces or eliminates corporate income taxes. In return, REITs are required to distribute 90% of their income, which may be taxable in the hands of the investors. The REIT structure was designed to provide a similar structure for investment in real estate as mutual funds provide for investment in stocks.Like other corporations, REITs can be publicly or privately held. Public REITs may be listed on public stock exchanges like shares of common stock in other firms.REITs can be classified as equity, mortgage or hybrid.The key statistics to look at in REIT are its NAV (Net Asset Value), AFFO...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
In a nutshell everything I ever wanted to know about marketing I learned from what was once the local TelCo here in Dayton, The Berry Company.  In fact their training program has been duplicated by other fortune 500 companies right here in the Dayton area. The Berry Company sold Yellow Page advertising for local telephone companies throughout the United States, I worked for them in the mid '80s as an Account Executive. Now they are owned by Bell South.  What I learned from the Berry Company is this:  there is a cycle in advertising based upon two different kinds of advertising which either make or break your marketing success.  If one break in the chain is evident or one side stronger than the other ( or the ying doesn't yang ) it simply will not be effective.  The first type of adverti...
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By THE buyernulls Agent Buyer Broker Real Est, Dayton, Ohio
(THE BUYER'S AGENT, Buyer Broker Real Estate - Dayton, Ohio)
Compared to September 2006, when 1150 single-family sales were reported in the Dayton, Ohio Area MLS, there were 945 homes sold during September 2007, or a year-to-year decline of 17.83%.The dollar amount of sales volume for September 2007 declined by 16.12% with a total sale volume of $126,852,680.  September 2006 total sales volume was $151,222,339.Surprisingly, the percent of sale price/list price only dropped by 1.22% when compared to September 2006.However, the median sale price for September 2007 ($118,000) compared to the previous September ($115,000) increased by 2.61%.Average sale price for September 2007 ($134,236) compared to the previous September ($131,498) also increased by 2.08%.Listing volume declined by 12.92% with 2245 new listings reported for September 2007, compared...
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By THE buyernulls Agent Buyer Broker Real Est, Dayton, Ohio
(THE BUYER'S AGENT, Buyer Broker Real Estate - Dayton, Ohio)
Compared to September 2006, when 1150 single-family sales were reported in the Dayton, Ohio Area MLS, there were 945 homes sold during September 2007, or a year-to-year decline of 17.83%.The dollar amount of sales volume for September 2007 declined by 16.12% with a total sale volume of $126,852,680.  September 2006 total sales volume was $151,222,339.Surprisingly, the percent of sale price/list price only dropped by 1.22% when compared to September 2006.However, the median sale price for September 2007 ($118,000) compared to the previous September ($115,000) increased by 2.61%.Average sale price for September 2007 ($134,236) compared to the previous September ($131,498) also increased by 2.08%.Listing volume declined by 12.92% with 2245 new listings reported for September 2007, compared...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
When you rent a place to live, you can almost certainly expect your rent to increase each year - or even more often. If you get a fixed rate mortgage when you buy a home, you have the same monthly payment amount for thirty years. Even if you get an adjustable rate mortgage, your payment will stay within a certain range for the entire life of the mortgage - and interest rates aren't as volatile now as they were in the late seventies and early eighties. Imagine how much rent might be ten, fifteen, or even thirty years from now? Which makes more sense? Not only that but many people are lousy at saving money.  Owning a home is a great forced savings plan!  Think about it - it's like paying your rent and at the end of your 30 year lease you own the place you're "renting" and you have $145,00...
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By Jon Higgins, ABR
(Century 21 Elite Performance)
Later, when you drop your price, your house is "old news." You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your house could take longer to sell.Even if you do successfully sell at an above market price, your buyer will need a mortgage. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won't appraise. Your deal falls apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen. Your house could go "back on the market."Once your home has fallen out of escrow or sits on the market awhile, it is harder to get a good offer. Potential buyers will think you might be getting d...
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By Mary Starkey
(Coldwell Banker Heritage)
Wow, sales are really happening here.  Homes that have been sitting for sale all winter long are now finally selling. There have been several banked owned propeties in our area and they do not last long on the market.  Homes have not been increasing in value as they did before 2006 but have not dropped in value,  In 2005, value of homes increased to about 10% per year and now we are just seeing a correction in that value this year.  New construction home sales are down and builders are not building as many.  In fact, this is the first year in a long time that Hoearama has been cancelled.   OUCH!
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By Julie Beall, CRS
(Irongate Realtors)
This is my first attempt at Blogging.  That was all I heard about in Las Vegas.....hey, I refuse to be left behind!!! So here it goes........I was born and raised in the the Dayton and Cincinnati area.  My husband and I currently live in Springboro,  Ohio where we have owned and operated either a Veterinary Hospital or a Real Estate company.  I can tell you almost anything about Springboro or Warren County as well as Clinton and Montgomery County. Anybody need information on these areas drop me an email julie@juliebeall.com
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