Knox County Ohio Blog

Many of you have been asking how the real estate housing market is doing and are wondering if housing prices are rounding the corner and heading up.  Throughout the country housing prices in May showed their first gain in three years.  Is this a sign that the market may finally be turning around?

Yes!  According to an article in USA TODAY, titled Housing Prices Rounding A Corner?, "home prices rose 0.5% in May from April, according to the Standard & Poor's/Case-Shiller home price index, which measures changes in the value of residential real estate in 20 cities."   The article also states that a smaller inventory of homes for sale and a continuing rise in homes sales is a promising sign that the market is indeed stabilizing.  According to Wall Street economists, home prices in 15 of the 20 cities surveyed, rose or remained stable.

There are cities still struggling.  Phoenix, AZ, Las Vegas, NV, and San Francisco, CA to name a few!  The cities of Dallas, TX and Denver, CO, have reported three months of prices that were higher than the previous year.   Cleveland, OH and Boston, MA  were up 4.1% and 1.6% (Wall Street Journal, "Home Prices Rise Across U.S.")  respectively.  Although year on year growth rates are still not good, critics believe the housing market has hit rock bottom and is now on an upswing. 

Since January 2009, the home price index is now showing four consecutive months of smaller annual declines.  This positive data is good news for lenders, who will start to see the values of their assets move higher thus resulting in fewer losses. 

But according to USA TODAY and the Wall Street Journal, "economists say the big question now is whether the promising signs in the housing market will encourage homeowners enough to result in more consumer spending." (USA TODAY)  As reported in the Wall Street Journal, "the improvement in housing likely gave a small boost to U.S. gross domestic produce in the second quarter, economists said.  After data showed construction of new homes was stronger than expected in June and was revised higher in April and May, Macroeconomic Advisers, a St. Louis based forecasting group, ratcheted up its estimate of second quarter economic growth.  It now sees output shrinking as just a .5% annual rate in the second quarter, compared with declines of 6.3% and 5.5% in the previous two quarters."

According to the NAR (National Association of Realtors), more hints of an improving housing marketing include a rise in existing home sales for a third consecutive month in June.  And "sales of new homes in June jumped 11% from May, according to government figures, and the supply of homes for sale fell to 8.8 months, the lowest since October 2007." (USA TODAY)

Although it is still difficult to get a loan, the market is slowing getting better.  If you are in the market for a new home, now is a WONDERFUL time to buy.  There are various government programs out there now as well as rock bottom rates.   Contact us to find your Knox County, Ohio home!!!

Recently I attended the 20^th Anniversary Star Power Annual Conference in Denver, Colorado.    I enjoyed three full days of career- changing sessions with the best realtors in the country.  Some speakers included Howard Brinton, Founder and CEO of Star Power Systems, Dave Liniger, Co-Founder and Chairman of the Board, RE/MAX International, Jim Gillespie, President and CEO Coldwell Banker Real Estate, Alex Charfen, Founder and CEO, Certified Distressed Property Institue, Allan Domb, and more than 125 top active industry producers and experts in the business.

Together with Rob Levy and James Nellis, we taught a real estate technology class that had overwhelming response.

Star Power is an organization that is comprised of nearly 300 top working real estate agents from across the country, each of whom averages over 200 transactions per year.  These agents or "stars" extend their knowledge and strategies of their success out to other agents, from which they can then choose which strategies best suit their market and personality.  This is a phenomenal group loaded down with tons of knowledge.  The best in the business!!

Not only did I come away with career changing material, but I was able to network with thousands of other agents across the country.  Some of which specialize in bank owned real estate and corporate relocation.  I believe these wonderful connections and relationships will be extremely beneficial to my Knox County, Ohio clients.

By George White, RE/MAX Times Managing Editor 

CHICAGO - Demand built on demographics and population - rather than questionable lending policies - will spark the next wave of strong home sales in the U.S., Dave Liniger told nearly 700 Affiliates at the 2009 RE/MAX Summer Conference for Broker/Owners and Managers on Monday.

The confluence of two massive population groups - 80 million Baby Boomers born from 1946-1964 and 74 million Millennials born from 1980-1995 - will fuel a huge increase in transactions from 2012 onward, the RE/MAX International Chairman and Co-Founder said at the conference's Opening General Session. Immigration and minority household trends will add to the upturn, he noted.

As the Millennials, who are 15-29 now, reach their prime homebuying years - the average first-time buyer is 33, though that number appears to be trending downward - the Baby Boomers will be selling and downsizing. The rise in demand will drive the market upward, Liniger said.

"Very good years are coming," he said, adding that RE/MAX International - through technology, training, social media and other initiatives - will help Broker/Owners and Associates connect with these consumers.

Being successful today
For the time being, though, local markets will stay as they are, Liniger said. In fact, unemployment and a second wave of foreclosures in 2010 and 2011 are likely to make things worse before they get better. He urged Broker/Owners to help their Sales Associates close transactions through distressed properties, REOs, first-time homebuyers and investors. His constant theme: Affiliates cannot sit back and wait for a quick turnaround - because it's not coming.

"I'm not negative; I'm realistic," he said. "If you're not realistic, you can't make the adjustments you need to make in order to survive and prosper."

Liniger said RE/MAX leaders have met many times with key lenders and government officials to push for foreclosure solutions and a standardized and streamlined short-sale process.

He also called the Certified Distressed Property Expert (CDPE) course the best training he's ever encountered. More than 6,000 RE/MAX Associates have earned the designation, he said, and others should consider it.

"Short sales are the key for the next 18-24 months. Our people must be trained to handle them," he said, noting that true recovery simply isn't possible until the foreclosure problem is solved.

The smartest place to be
RE/MAX continues to be the best network for top agents, Liniger said. Its unmatched technology, brand name awareness, training, market share and advertising provide significant competitive advantages for Broker/Owners and Sales Associates.

Liniger also thanked Affiliates for their enduring support of Susan G. Komen for the Cure and children's hospitals, noting that RE/MAX will soon reach the $100 million mark in Children's Miracle Network contributions.

Rousing life lessons
Following Liniger's address, former Notre Dame and NFL star Joe Theismann explained how he has approached life since his football career ended suddenly - his leg was broken on national TV - in 1985. He drew parallels between his adversity and the real estate industry's current struggles.

"We all face obstacles and hurdles; the test is what you do about them," Theismann said. "Real champions don't stay down. They figure out what to do, and then they do it. Why is RE/MAX where it is? Because they reject the idea of failing."

July 2009 Knox County Homes Sales numbers are in!!!  According to the Knox County, Ohio MLS, 35 homes were sold in the month of July!!  Re/Max Stars Realty had a 34% company marketshare of these sold homes!! 

Home sales totaled $3,853,645 and the average sales price for a Knox County, Ohio home was $110,104.

In the month of July 2009, 72 homes were listed in Knox County, Ohio and the average list price of these homes was $146,603.

Currently, there are 406 homes for sale in Knox County, Ohio and the Knox County MLS is reporting that there are just over 66 million dollars in total homes available for sale in this area.

The average list price for a home for sale in Knox County, Ohio is $163,156. 

*all home sales data was reported from the Knox County Ohio MLS System.

Homes for sale $100,000 or less

Homes for sale $100,000 - $150,000

Homes for sale $150,000 - $200,000

Homes for sale $200,000 - $300,000

Homes for sale $300,000 and up

In the market for a new home or ready to sell one?  Contact The Sam Miller Team for all your real estate needs. 

Sally Nelson of Nelson and Nelson CPA sent me an e-mail this morning that explains new tax incentives for energy efficient homes.  After reading Sally's e-mail I immediately saw the value in sharing this information with my clients and customers.  I hope you enjoy the information and feel free to forward this page to your friends.

ENERGY CREDITS
 
Summer may be when we think about home improvement issues, and so it is a good time to review the rules for the tax credit for energy efficient property.
 
The tax credit took a year off in 2008, but a new and improved version is back for 2009 and 2010.  The new credit is based on 30% of costs for qualified property, up to a maximum of $1,500.  Prior year credits taken do not affect this new maximum. Qualified property is property that is certified by the manufacturer to meet the required standards.  The standards are so specific that without the manufacturer's certificate, it would be hard to tell if a given item qualifies for the credit or not.  So it is best to ask about this up front, before you make any decision, and keep the certificate in your permanent records.
 
Energy Efficient Equipment includes
        Electric heat pump water heaters
        Natural gas, propane, or oil water heaters 
        Stoves using biomass fuel to heat a residence or water heater
        Advanced main air circulating fans
        Central air conditioners/furnaces
 
Building Envelope Components ("installed in a manner consistent with the manufacturer's certification") include
        Insulation 
        Exterior windows, skylights, doors  
        Caution:  After 5/31/09, an Energy Star label alone will not suffice to prove that these  items qualify.
        Metal roofs with pigmented coatings
        Asphalt roofs that have cooling granules (2009 only)
 
As before, the property must be used on the taxpayer's principal residence located in the United States.  The property must be new, and in the case of a building envelope component, must be expected to last at least five years.  (A manufacturer's two-year warranty at no extra charge can be taken as evidence of durability.)  The date that the expenditure qualifies is when the property is completely installed. Equipment costs can include the price of installation, however not in the case of building envelope components.  Further, the envelope component must be specifically and primarily designed to reduce heat loss or gain in order to qualify:  the fact that a component (siding, for example) might have an incidental beneficial effect does not count, since its main purpose is an unrelated function. (To confuse things, siding purchased with a manufacturer's certificate before 6/26/06, did count under the prior credit rules.) 

Circular 230 Disclosure:  Pursuant to regulations of the US Department of Treasury, it is required that we advise you that this newsletter is not intended to be used for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code on the taxpayer. 

Free Knox County MLS Search!!!  old-emailknoxcountyhomes.com is a FREE service made available for serious home buyers who are willing to work with real estate professional Sam Miller to help them find their dream home.  Your first e-mail will list all homes currently for sale your within your search criteria.   You will then be emailed an updated list of all of the new homes for sale as well as any price changes as soon as they hit the market.  Our old-emailknoxcountyhomes.com system eliminates the need to contact real estate offices and reduces time researching real estate websites.   Our FREE service will send you listings before they are typically published on an agent's website. Just fill out the form and start your automatic email home search today!  It's that easy!

Sam Miller offers this fantastic service to buyers who are willing to work exclusively with him and his real estate team.  This service gives our clients a huge advantage over other competing buyers in the market.  The listing delivery system sends the listing to our client the very instant the listing is entered into the Knox County Multiple Listing Service.  If you want an advantage over other home buyers today, you want Sam Miller and his EmailKnoxCountyHomes automated listing search working for you.

If you are currently working with a real estate agent who is not a member of The Sam Miller Team (Sam Miller, Carol Miller, Joan Clipse, Judi Zolman, Joe Conkle and Sibley Poland) please do not sign up for this service.   Our team members work extremely hard and they dedicate 100% of their productive time working for our clients and in return expect that same commitment. 

Knox County Ohio log home located on the south side of Mount Vernon and within a 45 minute to Columbus.  It's a Cypress log home with a wonderful rustic feeling yet it features a very light airy feeling.  Situated on over 5 acres of land with a fish stocked pond, woods and established walking trails.  This home is positioned back off the road in a very nice private place on the acreage.  For more details on this home please visit 10181 Pleasant Valley Road in Mount Vernon, Ohio and be sure to view the 3 minute video below for a true feeling of this home and its gorgeous setting.  We priced this home for a quick and smooth sale.  $275,000.

There is a lot of positive buzz spreading around the 2009 First Time Home Buyer Tax Credit.  I am offering this consumer video as a way to help our customers and clients understand the details of the $8,000 tax credit in simple and straight forward terms.  It is very important that consumers are made aware that they do NOT need to be a first time buyer to qualify (can't have owned a principal residence in past 3 years) and that you do NOT have to wait until next year to get your tax credit check from the IRS.  It is possible that you can buy and close a home today, amend your 2008 income tax return and get a check in the mail in as little as 6 to 8 weeks...a check that could be as high as $8,000.  

If you are interested in learning about how you can take advantage of this special opportunity please watch this short video for details.  I am confident that this video will directly benefit you or someone you know.  

Feel free to forward this page to your friends, family and your fellow co-workers.  

If you would like to view an extensive list of Knox County Ohio homes that are organized in price order click here

Knox County Ohio homes that are priced at $100,000 and less 

Knox County Ohio homes priced from $100,000 to $150,000

Knox County Ohio homes priced from $150,000 to $200,000

Knox County Ohio homes priced from $200,000 to $300,000

Knox County Ohio homes priced from $300,000 and higher

Apple Valley Ohio Homes organized in price order click here

2009 Hiawatha Water Park and Swimming Pool Season Pass Pricing For Residents

The following are special pricing for annual passes if purchased prior to May 1st, 2009. 

• Household membership prior to May 1st:  $170.00
• Individuals ages 6 through 59 resident prior to May 1st:  $75.00
• Children ages 1 through 5 years old prior to May 1st:  $40:00
• Senior citizens Ages 60 and over prior to May 1st:  $45.00

The Knox County Ohio Board of Realtors and the Knox County MLS reported $3,427,750 in residential home sales within Knox County in March 2009.  There were 25 residential homes sale reported in March with an average sales price of $137,100.  The least expensive frame constructed home sold was $21,000 and the highest priced home sold in March sold for $429,000.  For comparison purposes in 2008 there were 36% more homes sold than this past March yet this March the average sales price was nearly $5,000 higher than in 2008.  The end result is fewer homes sold in March of 2009 yet the average sales price was higher.

During March there were 93 new listings added to the existing Knox County MLS.  The average listing price for March was $153,805 which is actually above average.  The total dollar volume in new home listings in Knox County that were added to the MLS in March was $14,303,909.  For comparison purposes there were only 59 residential new listings added in February and only 43 residential new listings added in January 2009.  As of today there are 360 residential homes on the market for sale in Knox County.  Based on the 25 homes that sold in Knox County in March 2009...there is over 14 months of active home listings or inventory currently on the market for sale.