Is this a good time to purchase Real Estate?

I thought I would start off this new blog with the frequently asked question: Is this a good time to purchase Real Estate? The simple answer to this is YES, and not because I am a Real Estate Agent. Let me share with you a few reasons why this is a great time to buy real estate.

1) The current market is known as a buyer's market. This is because there is a lot of inventory for buyers to choose from and sellers, in order to stay competitive, cut prices and/or offer big incentives.

2) There are several 'distressed' sellers that need to sell due to adjusting rates on their mortgages, loss of salary, loss of job, etc. This opens the door of opportunity to those buyers that qualify for financing and have decent credit scores (or a lot of $$$$).

3) Interest rates are still historically low. As of this morning, you can get a 30 year fixed rate mortgage for around 6%*, 15 year fixed rate mortgage for around 5.25%*.

There are currently 2359 single family residential properties actively on the market in the Cincinnati Multiple Listing Service (MLS) in the counties of Adams (102), Brown (318), Clermont (1325), Clinton (265) and Highland (349).

The inventory of homes is plentiful, don't miss out on your opportunity of buying your next home at a great bargain!



* Rates quoted in this blog assume 30 day rate lock, $175,000.00 loan amount, 80% LTV, a minimum 680 credit score and a loan for purchase of primary residence. Rates can change significantly, without notice, throughout the day.