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selling or buying real estate in northern kentucky: Market Report Northern Kentucky - Bank Owned (REO's) - 12/10/08 02:31 PM
I've had a couple of people comment to me recently that there seemed like a lot of foreclosures (Bank owned) property on the market. I was thinking the bank owned inventory was down a little so I did some checking on market conditions for foreclosed properties.
Bank owed properties accounted for almost 27% of sales for the last 30 days. The bank owned inventory is dropping fast. Although we are still receiving new listings for bank owned property on a daily basis, the indications are that the banks are succesfully negoiatiing many buyers out of foreclosure. That fact, coupled with … (5 comments)
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selling or buying real estate in northern kentucky: Real Estate Auction 12-20-08 10:30AM Independence, Kentucky - 12/06/08 01:44 PM
3570 Richardson Road Independence, Kentucky 41051
Approx 3.25 Acres Parcel 4 of Richardson Business Center
Saturday December 20, 2008 - 10:30 AM
The developer of the Richardson Business Center has authorized us to offer at auction the above described parcel on Saturday, December 20, 2008 at 10:30AM. Don't be late, it may only take a few minutes to sell this parcel. This property is zoned RC2 (rural commercial) and has many approved uses. All utilities available including storm water detention. It is ready for your building.
PROPERTY DESCRIPTION: Parcel #204-0018-0002-00 is located in the West Price Hill section of … (0 comments)
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selling or buying real estate in northern kentucky: My hometown, Independence Ky - the 99th fastest growing city in America - 11/12/08 07:21 PM
Forbes magazine has listed the Northern Kentucky city of Independence as the 99th fastest-growing suburb in America.
The city's population grew to 33.5 percent to 20,254 last year, from 15,169 in 2000, according to Forbes.
The Independence real estate market remains strong in comparison to other parts of the country. The currently absorption rate for single family residential housing is 7.7 months which would indicate a slight lean towards a buyers market.
While slightly still in a buyers market, real estate remains strong with a 7.7 absorption rate for single famly residential house
Independence, located about 15 miles south of Cincinnati in … (0 comments)
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selling or buying real estate in northern kentucky: Market Absorption Rates - Independence, KY 41051 - 09/26/08 03:17 PM
I was working on some market data today and thought it would be a good time for a market update on Active Rain and Localism. Although not quite a buyers market, Independence has maintained a decent balanced market throughout 2008.
Like most market this year, Independence has seen it's fair share of ups and downs but it has maintained a fairly well balanced absorption rate. For the absorption rates in your neighborhood give us a call.
CENTURY 21 Garner Properties
Independence Office 859-363-9900
Florence Office 859-525-6777
… (1 comments)
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selling or buying real estate in northern kentucky: Interest free money for first time homebuyers after 4-9-2008 - 08/19/08 09:04 PM
As part of the "Housing and Economic Recovery Act of 2008" that was recently signed into law, Congress has created a new, temporary federal income tax credit to provide an incentive for first-time buyers.
The highlights of this federal tax credit are as follows: ( see the details here )
The amount of the federal tax credit is 10% of the cost of the home, up to a maximum credit of $7,500. In essence, this is an interest free loan that enables hoem buyers to receive a tax credit on a dollar-for-dollar basis on their personal income tax return in the calendar year … (0 comments)
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selling or buying real estate in northern kentucky: So you want to buy a foreclosed property? Tips and Advice - 07/15/08 12:23 PM
You've heard that your cousin's husband's brother's son just bought a $200,000 two story for $120,000 and you want to get in on the action, right? ME TOO. I get calls all the time from buyers who say "I'll buy anything that's priced at 75% of market value and I usually respond with; "Get in line behind me".
Unfortunately, the bank owned property resale business in Northern Kentucky is booming. But there are some great bargains available for some people. Here's a list of dos and don't for buying a bank owned property.
1. Cash speaks very loud but not as loud … (8 comments)
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selling or buying real estate in northern kentucky: Are you pre-approved for a home loan? Are you sure? - 03/16/08 09:39 PM
Definition - Pre-Approved, subject only to appraisal and clear title. Pre-Approval letters are requested by listing agents and sellers on almost every purchase offer, when in reality, the pre-approved buyer has become a rarity. Do lenders still offer "pre-approval" letters? Yes. Are the prospective buyers really "pre-approved"? No.
History - Pre-Approvals were a great practice that became very popular back in the 90's where a prospective buyer would make a full application for a mortgage loan. The lender would complete the verifications of deposits, employment, credit reports, etc. and submit the package to an underwriter for a definite loan commitment. The only things … (1 comments)
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Doug Garner, Broker-Manager, Auctioneer Northern Kentucky
Independence,
KY
More about me…
CENTURY 21 Garner Properties
Address: 5285 Madison Pike, Independence, KY, 41051
Office Phone: (859) 363-9900
Cell Phone: (859) 391-2100
Email Me
Views and opinions on real estate and other musings from a 25 year Northern Kentucky Real Estate Broker.
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