Mason Condo Market

There is an overabundance of condos on the market in Mason right now. There are 146 units for sale. The price range is $54,000 to $435,000. It is definitely a buyers market for condos.

One benefit to owning a condo is lower maintenance and no yard work!

But one drawback is the HOA or Homeowners Association monthly fees. These fees can be as little as $100 a month to $300 a month. That's in addition to your mortgage. These monthly fees usually cover outside maintenance of the unit and sometimes utilities are included. Each community is different.

A higher down payment may also be required from a lender if you plan to purchase a condo. New guidelines require a minimum of 10% down for a conventional loan. Talk to a qualified mortgage officer for details.

Monday Mason Stats

There are 460 active listings in the Mason 45040 zip today.
The bigger story is the 38 listings that are now listed as "pending" in the Cincinnati area MLS since Feb. 1st. The market is starting to heat up!

Great deals.. Great rates.. Is it time for you to make a move?

More Details - $8,000 Tax Credit

Many buyers are getting excited about the new 2009 Tax Credit. Check out this link for more details on how you can cash in!

https://email.sibcycline.com/exchweb/bin/redir.asp?URL=http://www2.cabr.org/files/HomebuyerTaxCredit.pdf

Now call Michelle Sloan, Sibcy Cline Realtor for a FREE Cincinnati Area Home Search. After a brief interview, Michelle will set you up to receive a personalized list of homes in your price range and area of interest.

Planning to Buy? - Things to Do

Many wanna-be buyers are being turned down for loans because of low credit scores or lack of down payment money. There are a few things you can do to gear up to get qualified for a mortgage.

1. Check out your credit history at www.annualcreditreport.com. What you don't know may hurt you.

2. Pay down debt and clean up any questionable accounts.

3. Start saving. A minimum of 3.5% will be required for a down payment on a loan.

Also, it is important to talk to a mortgage loan officer for some great advice. Often, a qualified mortgage officer can offer free advice about what accounts are dragging down your credit and explain how to raise your score.

If you need a referral for loan advice, contact Realtor Michelle Sloan.

Check This Out!

Home Sellers in $150K Price Range Get Ready

Some home sellers are seeing increased activity on their active listings as a result of the new taxpayers credit for first time homebuyers.

Most first time homebuyers are looking at homes priced below $150K.

This home in Deerfield twp is listed at $159,900. This charming 3BR - 2BA home w/private cul-de-sac setting is move in ready! Fresh paint & carpet; finished lower level; oversized garage; all in desirable Landen!

When homes in this price range start selling, that will soon provide some relief for the sellers in the $150-$200K price range. And so it goes...

Contact Sibcy Cline Realtor, Michelle Sloan if you are looking for a first time home in the $150's or a move up property in the $500's. Her years of experience will guide you to a great purchase.

ATTENTION FIRST TIME HOMEBUYERS!

Part of the American Recovery and Reinvestment Act of 2009 includes a Homebuyer Tax Credit.

The $8,000 tax credit is only available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. The tax credit will reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

An individual purchaser cannot make more than $75,000 in 2009 and a couple cannot make more than $125,000 to be eligible for the credit.

Contact a certified tax accountant for more details.

Contact Michelle Sloan, Sibcy Cline Realtor to find the perfect first home!

Monday Mason Stats

Here are the numbers for today in the 45040.

Active Listings - 465
Pending Properties since 2/1 - 24
Closed Properties since 2/1 - 9

Stimulus news on the way.. a tax credit will be available for new home buyers.. but not everyone will be able to cash in. Watch for details in the coming days.

How Much Can You Afford?

That's a great question and one a buyer should not take lightly. I recommend each buyer talk to a lender/loan officer before actually looking at homes. This way you won't find a home you love but you can't afford.

I can give you a list of reliable lenders who will meet with you personally and show you the latest programs available. Buyers should determine the amount you can afford each month and the amount of cash you will need at closing.

2009 is the year of change, especially in mortgage lending. The biggest change for buyers is the amount of money needed to put down on a loan. The minimum is 3.5% of the purchase price for FHA loans. Most conventional loans will require a minimum of 5% down payment. That does not include closing costs.

Talk to a lender/mortgage officer for details and get pre-qualified or pre-approved before looking at properties. This is very important.

Pre-qualified - A short conversation over the phone with a mortgage officer about your qualifications, income and debts. This is not a guarantee that you are truly qualified.

Pre-approved - The mortgage officer will actually check your credit and verify your income and debts. This is the best way to start the home buying process. The lender will also be able to give you a pre-approval letter, which will be important to have when you are ready to make an offer.

Gearing up for Open House Sunday

If you love going to Open Houses, just to browse. That's great. As a Realtor, I love visitors, even if they are "just looking".

A great resource to search for open houses across the Cincinnati area is http://www.sibcycline.com/. Just click on the open house tab and you can search for open houses by location. Even other brokers open houses are listed. That's one stop shopping!

If you want to visit me, tomorrow I'll be at an open house at my listing 3873 Thorngate in Mason. Cute 2 BR 2 BA condo. Sellers are motivated. There are 32 other open houses in Mason on Sunday. Please let me know if you came because you saw it on this blog!