Keepin’ it REAL Estate

Moving to Norwood is a great thing.  Like most areas around Cincinnati and around the country, Norwood is experiencing a buyers market. 

What is a buyers market? Typically when an areas home supply goes above 6 months, it is said to be a buyers market.  When it goes below 6mo then it is typically a sellers market.   So how many months of inventory does Norwood have?  About 10.  So what

does this mean?  It means that if NO other homes went for sale in Norwood it would take roughly 10 months to sell all of the homes listed. This is what realtors traditionally call “absorption rate”  and how did I calculate this?  Check out the side pic!

Knowing your areas absorption rate is essential in this market.  The key is to price your home according to market conditions, and knowing your absorption rate will help you do this.  If you’d like to know about your area’s specific absorption rate, contact me!

As a realtor in the Cincinnati area, I’m familiar with many of our great communities and great reasons why people should live in each of them.  Each community has something special to offer its residents.  I talked yesterday about the abundance of parks throughout the city that Norwood has, today I’m going to list 5 reasons why Norwood is a great place to buy a home.

1. Proximity:  This is HUGE!  Norwood is centrally located between both of the major highways via the Norwood Lateral.  I can get to either highway in less than 5 minutes.  You can be down town in about 1o.  Whats not to love about this?  Especially with the escalating gas prices.

2. Affordable Housing: Norwood has some great homes with the same charm and character that Hyde Park/Oakley have but without the price tag.  There are a ton of Young Professionals moving to the area because of this reason.  Watchout Norwood is happening! :)  Contact me if you’d like to know more about moving to Norwood.

3. City is dedicated to growing : There are a ton of great new office buildings being built, great new businesses moving in, a brand new super Krogers is being built and more.  Xavier University has even purchased land and is going to be building up the south west side of the City.   

4.  Great Local Restaurants and Cafe’s:  There are great little restaurants and cafe’s spotted throughout the city.  Two of my favorites are Quatman’s Cafe - the place where you can get a great burger and a cheap beer and The Speckled Bird Cafe - Serving the best latte’s in town!

5. Great Community Pride:  Those who live in Norwood, love it and wouldn’t live anywhere else.

Finding a community to live in can be a difficult challenge, especially if you don’t know the area.  If you are looking to buy a home or even sell your present home, I’d love to help you accomplish just that. 

If you have a place in Norwood you love, share it with me!

I recently received an email from the Norwood Service League stating they were in need youth mentors/volunteers for the upcoming year.  Whether you live in Norwood or not, this is the perfect opportunity to get involved with today’s youth and make a difference. 

Over the years I’ve been involved in many community activities serving our youth.  Nothing is more rewarding then influencing the lives of others.

Here are the volunteer opportunities with the Norwood Service League:

The Lindner Youth Mentoring Program works with Norwood elementary students (Williams Elementary and Norwood View Elementary). This program requires that the mentor meets with his or her student one day a week (the same day each week) during the student’s lunchtime at his or her school and brings a lunch for him- or herself and their student. The lunches are used as a time for the mentor and student to listen and get to know one another, for the mentor to provide encouragement and support to the student, and for the student to discuss any issues that they may need some assistance with, such as academic or social issues. This program begins in early January and will last until late May.

The Young Navigators Youth Mentoring Program works with Norwood High School students who are considered “at-risk” for dropping out. This program requires that the mentor and student make contact with each other once a week through an email or a phone call in order to get more information about each other and to build the foundation for the mentoring relationship. Once or twice a month, the mentor and student are required to go on an educational/vocational event or activity. The main goal of this program is for the mentor to encourage the student to graduate from high school and to provide him or her with opportunities to see what educational or career options they can pursue after graduating. This program begins in early January and will last until late May.In order to offset any costs that the mentor may spend on the student, the Youth Services Specialist at the Norwood Service League is able to write a letter of donation, in which the costs can be written off on the mentor’s taxes.

To get involved contact Michelle Pfaltzgraff at mailto:pfaltzgraff.m@norwoodschools.org or

513-924-2578

I do hope to see you out this year with our youth!

When buyers come to me looking for a great family community, they usually want a lot of places where their kids can go to play via foot or bike.  If its parks and recreation they’re looking for I tell them to take a look at Norwood. 

Who knew that this little city of 3mi x 3mi would have so many parks? There are 11 to be exact.  No matter where you live in Norwood there is probably a park within walking distance!  Before I moved here I had no clue.   Check out all of the great parks we have:

Burwood Park - Burwood, has a parking lot, and a covered picnic area.  It is located by Burwood pool.  There is playground equipment and a basketball goal.  However, there is no restroom available, unless it is within the pool hours.  There is a swimming pool that operates during the summer hours.

Victory Park - This park is located the corner of Montgomery Rd. and Mills Ave.  This park is dedicated to our war veterans and has memorial bricks, a tank and other memorial items.  There is playground equipment, and picnic tables.  Parking is on the street parking. However, there is no restroom available, unless it is within the pool hours.  There is a swimming pool that operates during the summer hours.

Marsh Park - Has a picnic area, but it is not covered.  The park has some playground equipment.  The park doesn’t have any restrooms available as well.  Parking is on the street. 

Northwoods Park - This park is located off of Indian Mound.  There is playground equipment, a baseball field and some picnic tables.  There are restroom available only during baseball games. 

Dorl Park-This park has baseball fields, and soccer fields.  There are restrooms available.  Parking is on the streets around the park.  It’s located on Robertson Ave. across from U.S. playing card.

Tower Park-This park is located on Indian Md.  It has tennis courts and no restroom. This park even has a real Indian Mound - its registered in the National Historical Registry!

Hunter Park -This park is located on Dale Rd.  It has playground equipment and a soccer field.  There are no restrooms available.  There is a small parking lot.

Waterworks Park- Located below waterworks pool, it has three baseball fields, tennis courts, basketball courts, and also has a soccer field.  There is a small picnic area and also restrooms are available.  There are also field lights for the numerous activities that take place after daylight hours.  There is some playground equipment next to the football stadium.  There is a swimming pool that operates during the summer hours.

Fenwick Park - This park has playground equipment, a covered picnic area, basketball court, baseball field, and soccer field.  There is also a parking lot.  The park is located off of Montgomery Rd, on Fenwick Ave.  Go through 3 stop signs and there is the entrance at the dead end of Fenwick Ave.   This park can be rented for picnics from April 1^st through October 31^st.  Picnic permits can be obtained at the recreation office.  Permits are issued the first working day of the New Year.

Millcrest Park - This park has 3 levels of parks.  There is upper Millcrest, Millcrest, and also lower Millcrest.  Upper Millcrest has baseball field, playground equipment, some picnic tables, and restrooms.  Millcrest has a big, covered shelter, playground equipment, sand volleyball, horseshoe pit, baseball field, and restrooms.  Lower millcrest, has a soccer field, playground equipment, and covered picnic area.  The same restrooms are available to all levels of the park.    This park can be rented for picnics from April 1^st through October 31^st.  Picnic permits can be obtained at the recreation office.  Permits are issued the first working day of the New Year.

Lindner Park- Nature Preserve -This park is located on Cypress Way.  It has many trails, a historical house, beautiful gardens and other historical structures to view.  There is a picnic area. Restrooms are available and there is a parking lot.

I’ve decided to dedicate a week to each one of my specialized areas for the next few weeks.  Norwood is first because, well hey I live here!

Some of you may not know where Norwood is or have any clue all that it has to offer!  If you shop at Rookwood - you’re not in Hyde Park, you’re in NORWOOD baby!  Nestled within the city of Cincinnati, Norwood is its own city with a ton of history and heritage.  IT is growing by leaps and bounds.  Many young professionals are moving to the area because it has all that Oakley and Hyde Park have to offer except the price tag!  You get more house for your money on the other side of I-71!  Hopefully by the end of the week you’ll want to live here too!

Here is a brief History of Norwood - (taken from the book “Images of America, Norwood by Christine Mersch)

One of the first buildings in Norwood was Samuel D Bowman’s tavern for travelers, built in 1809 between Montgomery and Smith Roads.  John Sharp, who may have owned a store nearby, joined Bowman to form a settlement, which was originally called Sharpsburg.  In 1869, Sharpsburg officially became Norwood by a vote of popular consent.  Some say the name was inspired by Henry Ward Beecher’s novel titled Norwood: Or, Village Life in New England.  Others think it is a combination of “North Woods,” the name given to the view from the property of early settlers L. Bolles and his wife, Sarah.

The area became an incorporated village on May 14, 1888 and on May 4, 1903, the village officially became a city when Mayor George E. Willis issued the proclamation.  The city continued to grow throughout the early 20th century, from 33,000 residents in the 1930’s to its peak population of 35,000 residents in the 1950’s.  The city suffered a financial downfall in 1986 when General Motors announced it was closing.  This caused a loss of approx 4,000 jobs and was an economic strain on the city. 

Today Norwood is growing and thriving.  There is so much that this city has to offer and there is more growth on the horizon.  This week I’ll be highlighting a few great things this city of mine has to offer… 

1. Less competition from other sellers

2. Winter prospects are more serious buyers

3. A high percentage of existing listings are sold during this time of year

4. January is traditionally the biggest transfer month and you must be on the market to capture these buyers

5. When you sell during the winter, you have an opportunity to buy during the spring when many homes are on the market!

Many sellers traditionally want to take their homes off the market for the holidays.  Their reasoning is that no one is buying so they might as well take it off.  I do not recommend this to my sellers.  People still need to move in the winter and if you’re home is not on the market then the buyers out there will not know!  The people who stay on the market during the winter months have less competition.  If you wait till spring, you’re going to be one of many other new listings that are up for sale.

If you’d like to know more about me and my personalized marketing plan to get your home sold for the best price in the least amount of time, call me! 

Have a happy Thanks Giving!! I’ll be back to report next week.

Yesterday’s paper finally had a good article regarding our fair housing market.  I wish I would have read it BEFORE I had brunch with my family b/c I was barraded with gloom and doom theories regarding todays houseing market.  But I was able to answer their questions with my own personal statistics.  I’m busier than ever and my average DOM is hovering around 40 days.   I’ve had more showings and buyers call me in the past month.  I even sold 2 houses this weekend.  Life in the Real Estate world is good contrary to popular belief.

Well, back to this weekends article.  It was written by Daniel M. Hendricks, executive director of the Home Builders Association of Greater Cincinnati, so of course he is going to give us a positive spin.  However, its the people in the business who really know the business. 

Daniel Keeps his article mainly about whats happening nationally.  With regards to foreclosures and lending practices.  He does mention a bit about our local region and how we are doing quite well here.  I ran a sales report this morning in the areas I predominantly work in (Norwood, Oakly, Hyde Park, Mt. Lookout) to see how they compare with last year.   We are only down by about 6% (comparing # of sales YTD and LY). Our  Avg % SP/LP right now is about 95%. 

Being in the Real Estate business is a hot topic where-ever I go these days.  My friends and family often wonder if I’m “surviving the market” and strangers/acquaintances often ask “so how is the market REALLY?” Everyone wants to know, because everyone has a vested interest in real estate.  I don’t mind the questions, I love shedding light on what people think is this gloom and doom market these days.

Just want to tell you Living in Cincinnati is great these days!  Here are a few fun filled facts:

- Year to date 2007 is Cincinnati’s 2nd best year ever
- Cincinnati just ranked by Forbes Magazine as #6 best city to buy a home in
- Ranked number #9 in the nation for safest market to buy a new home in.

See! Contrary to popular media, homes are selling!  AND its a great time to be living in Cincinnati.  The key right now is to find a Realtor who will give you an honest assessment of your home and not just take the listing based on the price YOU the seller thinks your home is worth.  Believe me, if you don’t price a home right at the beginning, then it will sit there in this market.   It becomes “dead inventory” and the longer the home sits the lower the price becomes.   The homes that are selling in this market are selling quickly. I recently listed a home in Norwood and it sold in 11 days and another one in Pleasant Ridge that has gone pending after 19 days.  Both of these sellers were VERY realistic about pricing their homes and were willing to do what it takes to get their homes sold fast!

Remember, it IS a buyers market - however, if you need to sell your home don’t be discouraged.  All you need to do is find a good agent, make sure he/she prices is correctly and markets the heck out of it, it WILL sell.   Call me today if you want to know how I will get your home sold for the best price in the shortest amount of time!

If you’re worried about owning two homes in this market or you think you have to sell before you buy, ask me about Sibcy Clines Guaranteed Sale Program!  This is a great way to avoid making two mortgage payments and allows you to move into the home of your dreams…

Until next time

This is going to be a great ride!  Get ready and join-in on the fun.