Ohio Real Estate; Returning Health to the Housing Market

Posted by Professional Realty on Tuesday, November 5th, 2013 at 7:19pm.    1128 Views

Ohio Homes and Real Estate; We Have a Pulse.

Ohio Real EstateLegalized gambling, new casinos and "racinos" adding jobs, General Electric realizing a tax break of as much as $88 million from the state in exchange for keeping 5,000 full-time jobs in southwest Ohio. City improvements from Cleveland to Cincinnati, communities receiving funds to demolish decrepit and abandoned homes, a surge of newly constructed homes and new subdivisions being plotted while others expand. The Ohio Bureau of Workers' Compensation (BWC) Board of Directors approved a premium rebate for all public and private employers. The $1 billion in rebates for the approximately 210,000 employers.

The Ohio real estate market has been one of the worst in recent years in comparison to other states, and probably why it ranks in the top five states for recovery now. Ohio Association of Realtors President Thomas J. Williams posted a very encouraging article on ohiorealtors.org last July; "The number of homes sold across Ohio rose 15.5 percent in June, as the market posted year‐over‐year gains in activity for the 24th consecutive month, according to the Ohio Association of Realtors. Over the past two years the Ohio housing market – month‐by‐month has made slow, steady and consistent progress in its effort to recover from the economic challenges wrought by the recession. Attaining 24 consecutive months of gains in sales activity – our longest stretch in uninterrupted growth in 16 years of tracking Ohio home sales – is a clear indicator of growing consumer confidence and a renewed appreciation that housing is a solid, long‐term investment."

Ohio Real Estate Market Gaining Strength

As you can see, there are many positive forces at work, and it's working. Sale and prices are up as we return to a more balanced market inviting buyers to coup a good deal on a residence while sellers feel encouraged about their house values. We can expect great things in 2014 for Ohio's housing market.

As professional Ohio Realtors, my business partner Marty Snyder and I sell dozens of homes every year, and together we see all the ins-and-outs. If you're buying or selling between Dayton and Cincinnati, perhaps Beavercreek, Indian Hill or Batavia Township, we'd love to put our expertise to work for you.

3 Responses to "Ohio Real Estate; Returning Health to the Housing Market"

Donna wrote: I'm glad to see this info,

I've been debating about buying for a long time and renewed my lease last year, and have been nervous about buying and this makes me feel a lot better about pursuing it. I assume you sell real estate around the greater Cincinnati area? I would like to start looking at some homes soon.

Posted on Saturday, November 16th, 2013 at 4:07pm.

HorseRacingFan wrote: Greg, very interested article. thanks for sharing. I'm a huge fan of horse racing and casinos and am so glad that Ohio is finally in the 21st century with legalized casinos and racinos. speaking of racinos, I've heard the one between Lebanon and Monroe has created about 800 permanent jobs. Do you think this will have a big impact on the supply of available homes in the nearby cities? Is this gonna cause the prices to go up too? I'm considering investing in the some properties to cash in on a projected increase for rentals as well. Your thoughts?

Posted on Wednesday, November 20th, 2013 at 8:20am.

Greg Hancock wrote: HorseRacingFan,

Sorry for the slow reply, was on a bit of a vacation. Yes, I personally believe the areas around these establishments will actually enjoy an increase in rent rolls across the board, If you need assistance with finding such properties give me or my business partner Marty Snyder a shout. We work with a lot of investors seeking flips, fixer uppers and "hold and rent" endeavors.

Posted on Wednesday, December 4th, 2013 at 4:27pm.

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