Northern Kentucky Real Estate Market Report

Want to know what happened during the June 2016 Northern Kentucky Real Estate Market sales period? You have come to the right place. Read on to get the latest statistics and information in the June 2016 Northern Kentucky Real Estate Report. Home inventory is still low around the Greater Cincinnati area compared to a year ago.

Northern Kentucky - Boone, Campbell & Kenton Counties

In June there were 236 homes that sold during the month for Boone County, 126 for Campbell County and 265 homes that sold for Kenton County.  Homes that went pending in June were 140 for Boone, 72 for Campbell County and 151 for Kenton.

• The average listing price for homes in the Boone County area was $265,629.00 with an average selling price of $212,586.00.
  • Boone County homes during the June time frame were on the market (Days on Market) for an average of 74 days.
  • There are currently 584 homes available for sale in Boone County.

• The average listing price for homes in the Campbell County area was $244,292.00 with an average selling price of $168,121.00.
  • Campbell County homes during the June time frame were on the market (Days on Market) for an average of 106 days.
  • There are currently 372 homes available for sale in Campbell County.

• The average listing price for homes in the Kenton County area was $215,191.00 with an average selling price of $170,540.00.
  • Kenton County homes during the June time frame were on the market (Days on Market) for an average of 77 days.
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6 Common Ways Buyers Fail When Trying To Purchase A Home

While home buying can be an exciting time, for some it can quickly turn into a nightmare filled with frustration, regret and remorse if not done correctly. The process of buying a home has many complexities and buying a home is definitely not as easy as buying a car where you can walk in, test drive a car and drive off with it that same day. Due to the amounts of money, emotions, and the long term commitment involved the home buying process needs to be approached with a full understanding of what can cause the process to go wrong.

Shopping For A Home Above Their Price Range

Shopping for a home above your price range is a definite path towards failure. A home purchase is a long term commitment. Even though you may have been pre-approved for a certain amount, attempting to buy at the top of your limit without considering how your budget and long term finances will be impacted by the monthly mortgage, interest, tax and insurance payments could set you up towards getting into a house poor situation.

On the other hand if you are looking for homes without even having applied for a pre-approval then you have no idea what your price range is. You may fall in love with that $300,000.00 home in the perfect neighborhood but when it comes time to financing you find your pre-approval will not cover purchasing that home results in a big waste of time. Know your price range ahead of time so that your home purchase is successful from the start.

Not Getting A Mortgage...

Greater Cincinnati Real Estate Market Report

Want to know what happened during the June 2016 Cincinnati Real Estate Market and Northern Kentucky Real Estate Market sales period? You have come to the right place. Read on to get the latest statistics and information in the June 2016 Greater Cincinnati Real Estate Report. Home inventory is still low around the Greater Cincinnati area compared to a year ago and sales are also up.

Cincinnati, Ohio - Hamilton and Clermont Counties

In June there were 1186 homes that sold during the month for Hamilton County and 343 homes that sold in Clermont County.  Homes that went pending in June were 737 for Hamilton and 156 for Clermont County. Pending status means they had an offer accepted and were awaiting closing pending inspections, appraisals, financing etc.

• The average listing price for homes in the Hamilton County area was $283,984.00 with an average selling price of $223,342.00.
  • Hamilton County homes during the June time frame were on the market (Days on Market) for an average of 70 days.
  • There are currently 3,022 homes available for sale in Hamilton County.
• The average listing price for homes in the Clermont County area was $243,677.00 with an average selling price of $203,418.00.
  • Clermont County homes during the June time frame were on the market (Days on Market) for an average of 62 days.
  • There are currently 691 homes available for sale in Clermont County.

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How To Appeal Your Property Tax Valuation

Property taxes are one of those things that often homeowners forget about since they are being paid out of escrow and but for an occasional notice of adjustment to the escrow payment amount most don’t know what their actual property tax bill is. The property tax bill is sent directly to the escrow company and nor do homeowners bother to check their local tax authority to see what they are being charged for property taxes. By being aware of your property tax valuation and how much you are paying each year in taxes you can be better prepared to dispute the property tax valuation if it is higher than what it should be.

Ways Your Property Tax Valuation May Be Wrong

Incorrect Information About Your Home

The first thing you should check with regards to your property tax valuation is the facts listed about your house at your local county tax board’s website. For instance how many square feet is your home listed as having, how many bathrooms and bedrooms does your home have according to the county information. If there is a mismatch in the information where your home on the county website is listed as a 4 bedroom 3 bathroom home and you only have 3 bedrooms and 2 bathrooms that is a definite error that will raise the value of your home and as a result also increase the amount of taxes you have to pay.

If the county’s information regarding square footage is higher than what...

Real Estate Zoning Laws

Zoning laws are the rules and regulations set by local government to control what types of buildings (residential, commercial, industrial, retail) can be built and where. In order to keep some uniformity and consistency many governments restrict areas so that they are only residential, commercial or industrial in order to avoid conflicts between the different land uses and in order to better provide for allocation of services like utilities, roads, police and fire functions. For instance an industrial plastics factory being built right next to a residential area can cause problems with the people living in those homes since the smell of plastic could affect their property value and quality of living. Additionally a high density residential area will require more services in terms of utilities and roads than an industrial area where there are a few large buildings but with fewer people present.

By controlling land use through zoning governments can ensure property values remain consistent, making a city or town more appealing for existing and new residents. By having uniform sections where only one type of zoning use can be put into place the government ensures a new farm or industrial factory won’t setup next door to nice homes and chase away the residents. Stable property values also leads to a stable tax base which the government can use for more consistent planning of city services and functions. Not only does uniform zoning benefit residential areas it also benefits commercial retail establishments located in one area by helping to shape traffic flows through road construction. Retail centers can be put into places where the streets and roads can handle heavier vehicle...