Is now the absolute-most-perfect time to buy a home in greater Cincinnati? Well, only history will tell when the absolute-most-perfect time to buy a home in greater Cincinnati was, but by then it will be too late to buy at the absolute-most-perfect-time. What "now" is however is a great time to purchase a home in Cincinnati and if you are considering a home in greater Cincinnati keep these three things in mind:
1) Interest rates are low. You can buy almost 35% more home today than you could just 10 years ago and have nearly the same mortgage payment. If you bought a home for $185,000 in 2000 and got a mortgage at a 7% interest rate your payment would have been about $1230.00 per month. Right now if you bought a $250,000 home and got a rate in the low 4% range your mortgage payment would practically be the same.
2) The selection to choose from is unbelievable. There are many motivated sellers with immaculate properties, many homes sitting vacant in great condition, and even some bank owned (REO) properties that are incredible buys and are in move-in condition.
3) Little competition. There is currently quite a bit of home buyer activity though supply is very much still outpacing demand in many parts of town leaving the astute home buyer very much in control and able to scoop a decent deal.
If you are considering buying a home in greater Cincinnati allow my team to lend our considerable expertise to facilitate a smooth transaction. Give us a call and ask us about any current incentives for buyers as there is always something out there we're aware of.
Hopefully this was helpful. As always, if you need help with any real estate needs feel free to check me out online at www.ISellCincinnati.com or email me at mike@ISellCincinnati.com or call me at 513-325-1959.
Until next time, keep living the dream!
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