August 2015 - Star One Realtors

July Market ROCKS!

July Home Sales Rock!! … 
Home sales in Greater Cincinnati climbed to a record number for any July, up + 9.0%, compared to a year ago. Homes sold (closed) last month were 2,582 compared to 2,370 in July 2014.   “2015 is on course to being a banner year for home sales,” said Joe Mock, President of the Cincinnati Area Board of REALTORS®.  “Low interest rates and pent up buyer demand due to low inventory are important factors driving the market,” said Mock.  “Beginning October 3rd, we could see a slowdown in the reporting of sales and an increase in the time it takes to close on a property due to new lending restrictions.  And many industry experts are expecting the historically low mortgage interest rates to rise very soon! So, don’t delay!  Contact a REALTOR to help you sell and/or purchase your home now. A professional REALTOR will assist you through the entire process,” said Mock. 
The July average home price climbing to $189,900 vs. $185,869 a year earlier, a + 2.2% increase.  The average price has increased year-over-year for 41 consecutive months.  At the same time, the inventory of homes for sale, as of July 31, continued its year-over-year declining trend to 8,800 from 10,220 a year ago, down – 13.9%.       
Local home mortgage rates in July averaged 4.09% for a 30-year fixed rate loan.  The rates were higher at 4.30 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 $483.   

“The average price of homes sold continues to be at or near record setting levels,” said Mock.  Demand for good, quality homes is still high, especially with our current supply of homes for sale at only 3.4 months. This means that at our current rate of sales, our current inventory of homes would be completely sold in a little over 3 months.  An average, normal market carries an inventory between 5-6 months.  Thus, this higher demand results in higher prices,” Mock stated.   “This type of market will not last.  If you are thinking about selling your property, do not wait.  Contact a REALTOR today,” said Mock. 
“A REALTOR is your source for accurate information, helping to guide you through your real estate transaction. Call one today!”      
Nationwide, July home sales were up + 2.0% from June on a seasonally adjusted basis, and were up + 10.3% from July 2014.  

Is Your Garage a Storage Space?

Maximizing Your Storage Space

A recent study found that 50 percent of homeowners claim their garage is the most disorganized place in the home. In addition, The Department of Energy cites 25 percent of people with two-car garages have too much clutter to leave room for cars, while 32 percent only have room for one vehicle. Isn’t it time to do something about the mess? This year, focus your efforts on maximizing storage space in the garage. 
“It’s ironic that many of us would rather store our boxes of unwanted stuff in our garage, leaving our valuable cars outside to deal with the elements,” says Lorie Marrero, professional organizer and author of “The Clutter Diet.” “Let’s rethink our storage priorities and turn our garage into a space that’s more organized and functional.”
Clear the floor. Since floor space is at a premium, get things off the floor and onto the wall. One option is affordable heavy duty wire shelving from ClosetMaid®. This durable shelving can withstand the weight of some of your heaviest things, plus it’s easy to install and adapts to your changing storage needs. Perfect for the garage, this product allows air to ventilate, and is not affected by the humidity or sudden fluctuations in temperature.
“Wire shelving is the perfect choice for ‘DIYers’ in need of a garage makeover,” said Marrero. “It is flexible and can be customized to fit in all types of spaces, suits any climate and is easy to keep clean.”
Tuck away hazardous materials. Things like poisonous pesticides and anti-freeze, or dangerous tools like hedge trimmers and power tools should be hidden safely out of reach from children and pets. These heavy duty cabinets are scratch and stain resistant and are a good place for objects not in use.
Keep smaller items tidy, accessible and out of the way. Can’t find your wrench or screw driver? Why not use a peg board to keep your favorite hand tools neatly stored, and ready to grab in a moment’s notice. Hooks are another great way to keep track of your belongings. Use them freely for stowing hoses, extension cords, bicycles and step ladders.

Invest in an area rug. Limit the dirt tracked inside the house with an area rug or repurposed carpet. For many, the garage serves as the main entry point into the home, so be prudent and keep the entryway as clean as possible.

Transforming your garage into an organized, functional space rather than a catchall is one of the best and most satisfying ways to begin an organized routine. Not only will you delight in all the space you create, but your car will simply love its new indoor home.

one goal. one passion.