
Storage Unit Rental Guide
Storage units are a great way to store household goods between moves, when you don’t have enough space in your home or businesses that need storage for items that their place of business cannot handle. Storage units come in different sizes and as well some storage companies offer climate-controlled storage units that may be better depending on what needs to be stored. Knowing what storage unit options are available and understanding the requirements of the storage unit itself is important. This guide will help one to get a proper understanding of the different types of storage units available, the costs of such storage units and more.
Why Might You Want a Storage Unit?
Whether you live in a place that does not have enough room for storage of you moved for a job and now have to temporarily downsize your house renting a storage unit to store household goods until settled in a place that can hold everything may be the way to go. If you happen to be buying a new home and had to sell your home prior to being able to close on the new home then renting a storage space might be needed in order to store a majority of your belongings until you close on the new house.
Businesses who have seasonal tools or goods that need to be stored off site can also make use of storage units. By keeping items out of the current location space can be utilized for existing business needs. Businesses may be able to deduct any monthly fees too paid for their storage...
The data you see below is from the Cincinnati Multiple Listing Service (MLS). Average days on market refers to hold long on average a property stays on the market before accepting an offer. The properties sold represents the number of multifamily properties that have been sold during the month being reported on. If there is other data you would like to see please feel free to share in the comments below.

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While average days on the market ticked up for luxury homes in the Greater Cincinnati luxury home market the median selling price also moved up. Inventory increase a bit and the amount of homes sold also increased. Mortgages for luxury homes are priced differently compared to conventional mortgage so the rate will vary compared to the conventional rate.

Mortgage Applications Plunge - Applications by home buyers for mortgages dropped to a 28 year low indicating that many buyers have put their home buying goals on hold in light of high rates and high prices.
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How Do Contingent and Pending Statuses Differ in Real Estate?
While looking for your next home online is easier than ever, some things can be confusing. Though a listing marked as “active” is fairly self-explanatory, other terms can be less precise.
The difference between pending and contingent in listings might not be that apparent. If you find a home in the listings, but it is either contingent or pending, what does that mean, and do you still have a chance to buy it?
Contingent vs. Pending
The main difference between pending and contingent is that with a pending listing, the terms and the contract have been completed. But with a contingent listing, some of the stages in the buying process still have to be met. Not all Multiple Listing Systems (MLS) use both pending and contingent. The Northern Kentucky MLS and Greater Cincinnati MLS do not use the Contingent status but do use Pending.
Let's look at these in more detail:
Pending Listings
Property under contract with a buyer will be listed as pending. Showing another buyer got there ahead of you to sign a contract with the seller.
Usually, the pending status means the contract terms have been completed, and the sale is pending. So, real estate agents will make ...

Should You Put Your Home In An LLC?
Homeowners are always looking for a way to protect themselves and their assets. Homeowners insurance is a great way to protect a home from natural disasters and also can provide protection from someone getting hurt on the property. There are additional insurance policies homeowners can consider as well to expand that coverage. Some homeowners may think that by moving their home into a Limited Liability Company (LLC) they can get much better protection from lawsuits. While that could be true there are risks involved as this article explores.
What Kinds of Protections Does an LLC Provide?
The types of protections provided by an LLC may vary state by state but for the most part the LLC is treated as a separate entity from the owner of the LLC. If the owner is sued for their actions as a person the assets of the LLC should be shielded from a lawsuit if the owner was not acting on behalf of the LLC. For instance an LLC owner is driving their vehicle to do a personal errand and run a red light causing an accident. The person injured by the accident can sue the owner and the courts can look to all assets owned by the owner to help pay for the injuries. If the owner owns assets in an LLC those assets would be considered separate from the owner and not subject to the liability of the owner.
By moving title to a home into an LLC the homeowner then is attempting to protect their home from any judgment claims. For instance if the homeowner did not have enough insurance coverage or other assets and were found liable in the accident described above their...

Walking Away From A Home Purchase Contract
After an offer has been accepted on a home a buyer has some options for walking away from the contract and possibly getting their earnest money back. Usually those times to walk away and get the earnest money back apply during the contingency periods written into the contract. A buyer can walk away though at any time from the contract up until the actual signing of all documents at closing. Walking away from a purchase contract though could result in the buyers losing their earnest money or worse being sued if there were no contract contingency clauses upon which they based their decision to cancel the contract. This article explores some of the different ways buyers can walk away from a contract to purchase a home and the consequences for doing so.
Inspection Contingency
Most contracts to purchase a home should contain a contingency section which allows a buyer to have the home inspected for condition. A home with a bad condition may mean that the current offer price does not make sense. The buyer may also decide that based on the condition they no longer want to purchase the home. Whether the buyer can walk away from the home purchase contract based on a condition issue depends on the terms of the contract and the local laws that govern the real estate contract.
In the Greater Cincinnati Ohio area in the past the standard MLS (Multiple Listing Service) contracts that are provided for real estate agent use had flexible language that would allow a buyer to back out for almost any condition issue. The...

Different Land Loans Explained
If you’ve always dreamt of building your own home, the cost could be holding you back. But you can get loans for land to buy the plot to build your new construction.
Before looking for land loans, you should know a few things. We will look at the different types of land loans available to purchase land when you want to build your own home.
How Does a Land Loan Work?
A land loan is simply a loan for land, and the type of loan you choose will depend on the plot and how you intend to use it. Primarily, these loans are used when the buyer does not intend to start building a home immediately.
The loan allows them to hold onto the land until everything is ready to begin construction. If you are ready to begin constructing your home immediately, it is better to choose a construction loan.
A construction loan will let you finance the purchase of the lot and the cost of building the home. So if you have everything ready to go, including your blueprints and specifications, a loan for construction will be best.
Many folks have planning to do, so in that situation, a land loan will work best. A land loan can also be used for buying commercial real estate for a business too.
Let's look at the different land loans that are available:
Raw Land Loans
If the plot of land is entirely undeveloped without utilities...
The data you see below is from the Cincinnati Multiple Listing Service (MLS). Average days on market refers to hold long on average a property stays on the market before accepting an offer. The properties sold represents the number of multifamily properties that have been sold during the month being reported on. If there is other data you would like to see please feel free to share in the comments below.
There was a slight increase in sale of multi-family properties in Cincinnati. Interest rates still continue to be a drag on sales, but with good cash flow buyers are ready to make offers.

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January was a slower month for home sales. The total luxury homes sold in January was 33 as compared to 61 selling in December 2022. Listings remained flat but as the weather warms up in the Greater Cincinnati area and as mortgage rates stay off of recent highs both buyers and sellers should be back to transact.

Housing Bubble 2.0 Update - Homes in many of the large markets are experiencing a decline compared to the recent highs. This may start to impact real estate in other markets down the line.
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Important Things To Maintain In A House
Homeownership involves much more than living in the house and slapping on some paint here and there periodically. Homeowners need to be actively maintaining and updating the house in order to have the home retain value. Certain areas are overlooked when it comes to maintenance and this article provides tips on where homeowners should be focusing on routine maintenance. Skipping this maintenance can mean much larger bills down the line when something does fail in the home.
Garage Doors
The garage door themselves and the garage door opener need to be properly maintained in order to get the best possible life span out of it. Over time the metal parts can wear down if not properly lubricated. Metal moving parts of the garage doors will need replacement when they do wear down. The garage door opener itself has moving parts and electronics to help it safely operate. If the sensors that tell the garage to reverse when something crosses its path fail to work it can cause harm to people, animals and even damage a car that is in the path of the garage door. By having the garage door and opener regularly tuned up/maintained on a regular basis the homeowner can ensure it operates safely and effectively for a long time. 
HVAC System
The Heating, Ventilation and Air Conditioning system (HVAC) are basically the lungs of the home and keep the home’s air cool in the summer,...

How Does A Recession Impact Real Estate?
In today's economy, it is essential to understand the impact of a recession on the real estate market. A recession can have a substantial effect on housing prices, rental rates and the availability of loans. It can also cause a decrease in construction and development. This article will explore how a recession can affect the real estate industry and what strategies investors and home buyers and sellers need to consider in order to stay ahead of these economic changes.
Are We in a Recession?
There seems to be some debate as to whether the US is in a recession as of the date of this article. Depending on where one looks there are claims that there is currently a recession whereas other sources say there is no recession. The official declaration of a recession usually comes after the economy has entered a recession and is made by the National Bureau of Economic Research (NBER). Per NBER “The NBER's traditional definition of a recession is that it is a significant decline in economic activity that is spread across the economy and that lasts more than a few months.” NBER looks at monthly data that includes personal spending, the employment rate, Gross Domestic Product (GDP) and more. With employment rates and GDP being positive currently the consensus right now is that there is not an active recession today.
How Does a Recession...

How Does an Appraisal Gap Clause Work in Real Estate?
When you make an offer to the seller, and they accept, you still need the home to appraise when buying the home with a mortgage. Even when buying a home with cash the buyer may want to make sure the value meets or exceeds the offer amount. When buying a home with a mortgage most of the times an appraisal will be required as part of the process. If there is a difference between the amount offered and the appraised value, the purchase could fall through. An appraisal gap clause can prevent the transaction from falling through as this article explores. (Be sure to check out the video down below for more on the appraisal gap clause.)
What are Appraisal Gaps?
When the agreed purchase price of the home is higher than the appraised value, those in the real estate industry refer to it as an appraisal gap. The appraised value is determined by a licensed appraiser hired on behalf of the lender to ensure they aren’t lending more than the home is worth. For example where a contract to purchase a home is priced at $400,000 and the home actually appraises at $350,000 the lender will not allow the mortgage to be approved unless the purchase price is lowered to $350,000 or the buyer brings additional money to the closing table.
How much additional money the buyer must bring depends on the loan to value amount the buyer is borrowing based on. At an 80% loan to value (LTV) ratio the buyer must bring 20% of the total home value as cash to the closing table. Depending...
The data you see below is from the Cincinnati Multiple Listing Service (MLS). Average days on market refers to hold long on average a property stays on the market before accepting an offer. The properties sold represents the number of multifamily properties that have been sold during the month being reported on. If there is other data you would like to see please feel free to share in the comments below.
Fewer sales in the multi-family cateogry for December 2022. Some of the slow down can be attributed to December being a typically slower selling month due to holidays. Interest rates are likley having an impact as well.

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Days on market ticked up along with total luxury homes sold in the month of December as compared to November 2022. Total homes llisted for sale too did come down, but that is to be expected as home sellers prefer less to sell during the month of December when the holiday season is in full swing. We should start to see an increase in luxury listings available for sale in the upcoming months.

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Commercial Real Estate Due Diligence
Investing in commercial real estate can be a great way to generate income, however it is important to do proper due diligence before investing. Due diligence is the process of researching and verifying information about a potential investment. This article will provide an overview of the key considerations for commercial real estate due diligence investing, such as the types of information you need to research and tips for carrying out due diligence efficiently.
What Is Due Diligence?
Due diligence involves researching and analyzing all aspects of the property, from its physical condition to legal compliance issues. Due diligence is essential in order to ensure that you get the best return on your investment dollars. Due diligence starts before an offer is made and continues once an offer has been accepted and the contract to purchase has been signed by both the buyer and seller.
The process of due diligence can be time-consuming and costly; however, it can also reap substantial rewards if done properly. When conducting pre-offer due diligence, it's important to evaluate market conditions such as vacancy rates or forecasted population growth in the area surrounding the property. Other important factors include examining potential problems with zoning laws or building codes that could affect future profitability. If there are vacancies in the building then figuring out why there are
vacancies can save a buyer from investing in something that is in a location no one wants to rent from.
After an offer has been accepted and prior to closing...

Buying A Home Without A Mortgage
The use of a mortgage to buy a home is what is used by a majority of homebuyers. Around 70% of homebuyers are using a mortgage when buying a home. There are other means with which to buy a home and this article looks at some of the alternatives and what to look out for when buying a home without a mortgage.
Buy a Home With Cash
One of the most commonly used means for buying a home and that does not involve taking out a mortgage is buying a home with cash. Many investors purchase homes with cash with the goal of fixing up the home and selling it for a profit or fixing it up, getting the home rented out and then getting a mortgage to cash out their equity.
There are also home buyers buying a home to live in with cash. These buyers may be getting their cash from savings, borrowing from retirement accounts, borrowing based on equity in stocks or other real estate, gifts from family members and other sources. Especially in a market where the mortgage rates are high, buying a home with cash to get a discount on the purchase price may be a good option for those who have access to cash. Once purchased with cash there are plenty of mortgage lenders who are willing to give a mortgage to that homeowner so they can get some of their cash out of the equity they have.
While cash purchases of homes allow a home buyer to close quicker than a mortgage purchase would allow that does not mean a cash buyer should rush things. Instead the cash buyer should seek to use all available contingencies to make sure that not only is the home in good condition but also...
Fewer home sold in the month of November 2022 as compared the previous month, but some of that can be traced to the holiday season as well as colder weather. Fewer homes sell during the colder months of the year. Homes are sitting on the market for longer as well as buyers step back due to higher interest rates.

Housing Bubble Starting to Deflate - Various markets around the US are starting to soften as homebuyers decide it is to expensive to buy based on current mortgage rates.
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The data you see below is from the Cincinnati Multiple Listing Service (MLS). Average days on market refers to hold long on average a property stays on the market before accepting an offer. The properties sold represents the number of multifamily properties that have been sold during the month being reported on. If there is other data you would like to see please feel free to share in the comments below.

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Local Greater Cincinnati Charities To Know About For #GivingTuesday
After Thanksgiving comes Black Friday, Small Business Saturday and then Cyber Monday. Black Friday, Small Business Saturday and Cyber Monday are all about buying something at a discount or buying local in anticipation of the upcoming holidays of Christmas, Hanukah, Kwanza, Festivus and more. Another day for consideration is #GivingTuesday. With #GivingTuesday the idea is to contribute some money to a charity of your choosing so those who are in need can benefit as well from the holiday season. Being a personal fan of local charities I have compiled a number of local charities in this article. These charities operate in both the Greater Cincinnati, Ohio area and Northern Kentucky areas. Take a look at the great things these local charities are doing and consider donating to them or becoming a volunteer.
La Soupe
La Soupe located at 4150 Round Bottom Road Cincinnati, OH 45244 and helps people get nutritious meals. Founded in 2014 by Chef Suzy DeYoung the goal of La Soupe is to repurpose excess food (that would otherwise be thrown out) to create tasty and nutritious soups and meals for those in need. Currently La Soupe rescues approximately 5000 pounds of food per week and with that is able to feed 2000 children in and around the Cincinnati area. La Soupe recently sent 23,000 pounds of food to assist with hurricane recovery efforts in Houston, Texas.
Not only does La Soupe give soup to those in need they also sell their soups to anyone wanting to buy their delicious soups. So in case you want to make a donation...

Tips For Selling A Home In A Buyer’s Market
The real estate market in many locales around the US shifted rather quickly to a buyer’s market with the increase in mortgage interest rates. As a result home sellers need to put in a lot more effort in order to make sure their home is sold. Many buyers have stopped looking for a home due to lack of affordability as a result of higher mortgage rates. With fewer buyers, home sellers need to provide exactly what those buyers who are still in the market want. Learn what home sellers need to do to get sold in this buyer’s market.
Get Pricing Right and Be Flexible
Pricing is one of the most important things to get right and work on getting right if it is not where it should be. Buyers look for homes that will fit their monthly budget. An overpriced house will mean buyers will walk away and look to homes that are priced within their range. An overpriced home will get little love from buyers. How a home was priced last year in a seller’s market should not control how a home is priced today. Home sales comparisons (comps) need to be very recent.
Home sellers need to be flexible with their price. Once listed the home price should not be set in stone. As buyer feedback comes in the home seller needs to keep in mind what buyers are saying. If buyers are mentioning home condition, need of updates, or some other reason that is usually a sign that the price may be high. If the home seller does not want to make updates, change appliances, or something else then price is...