April 2015 - Star One Realtors

Greater Cincinnati Homes Sales Rose In March

March Home Sales came in like a Lion …
And Stayed, Climbing Double Digits
March home sales in Greater Cincinnati rose + 12.40% compared to a year ago. Homes sold (closed) last month were 1,849 compared to 1,645 in March 2014.

“If the first quarter of 2015 is any indication of the rest of the year, hang on,” said Joe Mock, President of the Cincinnati Area Board of REALTORS®. “March home sales climbed double digits from last year. The low interest rates and our current local economy make this a perfect time to buy,” said Mock. Call a Realtor and be a part of the excitement!”

The March average home selling price climbed to $173,304 vs. $158,479 a year earlier, a + 9.4% increase. The average price has increased year-over-year for 37 consecutive months. At the same time, the inventory of homes for sale, as of March 31, continued its year-over-year declining trend to 7,953 from 8,789 a year ago, down -9.5%.
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Local home mortgage rates in March averaged 3.82% for a 30-year fixed rate loan. The rates were higher at 4.45 a year ago. At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $470.

“The numbers prove that this is a great time to buy or sell a home,” said Mock. We are witnessing a very strong spring! And, what a great time to sell your home! The inventory of homes for sale continues to be at an all-time record low, and the interest rates remain low. This continues to be the best time to put your home on the market,”

“Call a Realtor to get a free, professional estimate of your home’s value in today’s market.”
Nationwide, March home sales were up +6.1% from February on a seasonally adjusted basis and were up + 10.4% from March 2014.

Finances – Don’t Be Fooled by Bad Credit

Finances – Don’t Be Fooled by Bad Credit

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When was the last time you checked your credit score? If it has been more than one year ago, you might want to take a look to make sure that the correct information is being reflected. Though credit can be difficult to maintain, it is your responsibility to make sure that it is kept up to date. A bad credit score can prevent you from big purchases like buying/renting a home, car and in some cases, even from getting a job.

Make sure to check your credit at least once a year. In most cases, an annual credit report can be provided to you once a year for free. If you find any discrepancies, make sure to reach out the resolve the matter as quickly as possible to prevent any lingering negative impacts on your credit. To obtain your free credit report, visithttps://www.annualcreditreport.com.

Brought to you by:  Summit Funding, Inc.
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