Interest rates are good! This is an opportunity! In the Cincinnati area  interest rates have dropped almost 1/2 % since Christmas for a 30 year loan. If you purchased within the last year and you plan to stay in your home for more than 5 years refinancing is not out of the question.

You can read this story on Bankrate.com at http://www.bankrate.com/brm/graphs/graph_trend.asp

The media missed this change!

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Unfortunatly Cincinnati is not on this list of top markets to be in in the year 2008.

http://www.housingpredictor.com/top2008.html

As I see it , the Cincinnati real estate market will rise until June as normal. Since this is an election year most buyers will have their homes purchased before June 15. I do not expect the normal level of sales after June 15.

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Here is the data that showes all the home sales  in 2007 up to December 17 by the Cincinnati Area board of Realtors. This list does not cover all the homes that the Fisher Homes and Zaring Homes did not enter into the Cincinnati MLS.

Click here to see Polo Fields home sales Clermont County Ohio 2007

Here is what is happening in the Cincinnati residential real estate market. As you can see by this graph the # of home sales are declining and the # of homes for sale are still increasing. This is a formula for lower average sale prices. Just like oil, Bengal's tickets, or Reds opening day tickets, the more demand = a higher price. Less demand = a lower price. Not to hard to understand!

If you are thinking of investing in Cincinnati OH real estate, please visit KevinDuffy.com or call me at 513-602-6000.  You can also begin searching the MLS here. I would be happy to help you invest in your future in Cincinnati OH.

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