Homes for the "Average Cincinnatian"

Keller Williams Advisors Realty

Did you know that the average home sale price over the past six months in Cincinnati's city school district is about $178,000? The average home size was 3 bedrooms with 2 - 2.5 bathrooms and 1677 square feet. Let's take a look at what $178,000 buys you! All homes below have at least a one car garage, 3 bedrooms, and 2 full bathrooms.

• 3979 Dickson Avenue: This 93 year old brick home in Avondale features several recent upgrades including a large back deck, and also a two car detached garage. The full basement is finished, giving this 3 bedroom 2.5 bathroom home over 2200 square feet of living space. $175,900
• 5722 Bramble Avenue: Originally built in 1900, this Madisonville home will be open to the public this Sunday (October 11th) from 2 to 3pm. Check out the tall ceilings and historical details of this 3 bedroom 2 bathroom home! $181,000
• 2879 Cyclorama Drive: This spacious ranch in Westwood has 3 bedrooms and 2.5 bathrooms in over 3000 square feet of living space! A two car rear entry garage and great curb appeal suggest that this home will not be on the market long. $175,000
• 1530 Northview Avenue: This cute Cape Cod in Northside is larger than it looks, with 4 bedrooms and 2.5 bathrooms. Check out the modern updating and a finished walkout basement this Sunday during the open house from noon to 1:30pm. $179,900

Today's Most Expensive Listings

HomeVisit

Yesterday I shared some very affordable listings from my hometown, Anderson Township. But just for fun, let's take a look at the most expensive (and presumably luxurious) Cincinnati area homes for sale! Just so you know, I'm not including new construction -- saving that for another post -- and all of the clickthrough links go to Realtor.com which will provide you with the listing broker information. These are not my listings, so I am available to represent any potential buyers!

• 2555 Handasyde Avenue: This gorgeous 7872 square foot Tudor home on a prestigious Hyde Park street boasts six bedrooms and six and a half bathrooms, three fireplaces, and a four car garage. Listed at $2,200,000.
• 9 Beech Crest Lane: Just down Madison Road from one of my favorite streets, Keys Crescent, is this stunning five bedroom home in Walnut Hills. With six and a half bathrooms, 7277 square feet of living space, and an indoor sauna, this 1917 gem has been recently updated with all the luxury finishes. Asking $2,195,000.
• 1206 Edwards Road: Only 3 blocks from Hyde Park Square, this 7200 square foot home has a heated lap pool and separate swimming pool and a private guest house. The main house has six bedrooms, six full bathrooms and two half bathrooms. Listed for $2,295,000.
• 3815 Erie Avenue: Another Hyde Park stunner, but with its own name: Stone Cliff. This 5+ acre estate has recently been LEED certified and updated, which for a 9500 square foot home is probably a good long-term strategy. Five bedrooms and five and a half bathrooms, encased in gorgeous Tudor styling, can be yours for $3,900,000.
• 1901 William Howard Taft Road: Heard of Zaring Builders? This was the home of Alan Zaring, a custom built 8500+ square foot overlooking the Ohio River and surrounding areas. With five bedrooms and five and a half bathrooms, and a spacious rear terrace with a fountain and rose garden, this Walnut Hills mansion can be yours for $3,250,000.

Something Will Always Go Wrong

It may be an upside-down electrical outlet, last second title issues, or an incorrect item on your HUD-1 settlement statement, but at some point when you're buying or selling a home there will be a problem. When it happens, even if you're tempted to think that the sky is falling, take a deep breath and remember: if buying and selling a home was easy, no one would ever complain about it.

Preparing your response to the issue that may or may not resemble a wrecking ball to your plans takes some guidance, hopefully from your awesome Realtor. First, determine how important the issue is -- not in principle, but in fact. Is it important enough to walk away from the sale? To delay closing until it's rectified? To aggravate the other party further? If you are considering anything else, such as what your mother will say (if you tell her) or your pride, just stop. That's not helping anyone. You have signed a legal contract. If you're considering doing anything to change the terms of that contract or delay its execution, there can be expensive consequences.

Next, brainstorm possible solutions to the problem that would make you more comfortable with the situation, and consider how the other party might respond to each one. Focus on reasonable and quick solutions that won't 1) send a loan back to underwriting, or 2) alienate the other party to such an extent that they refuse to work with you. Did the seller not fix something that was agreed upon in the contract? Offer to send your own contractor, or have the repair funds held in escrow by the closing agent until the work is done.

Remember, nothing is final until all parties have signed the paperwork. If you have a serious issue in your real estate transaction, talk to your Realtor and a real estate attorney if necessary to understand all the options. There is nearly always a solution, and it's our job to help you find it.

The Waiting Game

At the beginning of a real estate transaction, both buyer and seller have a lot to do and plenty of paperwork to sign. After the contract, there's the inspection period and possibly even more paperwork! Next is the appraisal, scheduled through the lender, which takes a bit more time and the buyer and seller don't end up signing anything more unless it comes in too low. But once that's settled, most buyers and sellers feel that the excitement has suddenly dropped off...it could be weeks before closing. What should the buyer and seller be doing after the appraisal?

Essentially, during this period you're waiting for the title company to research the title on the property. They're also communicating with lenders from both sides of the transaction to prepare the necessary closing paperwork. The buyer's lender is also working to pass the file to underwriting, the magical department that gives final approval for your mortgage. Your Realtor is the conduit, communicating regularly with the lender, the title company, and you. However, just because you're waiting on all those people to do their jobs doesn't mean the buyer and seller are done.

Now is the time to really focus on your upcoming move. Pack those boxes, pick a mover, notify the utility companies, file your change of address with the USPS, and make all or your plans for pet care, child care, and time off work to make sure you are ready for moving day. If you already know that you plan to make repairs or renovations at your new home, you can start talking to contractors to determine who will be available and within your price range.  You can also inform your credit card companies and your employer that you will have a new address as of the occupancy date in your contract. Most importantly, you don't want to be that person who is still cleaning the house at 5:30am the day of closing, so find a cleaning company to give the house a thorough once-over if you're the seller (or if you're the buyer of a distressed property)!