Knox County Ohio Blog by Sam Miller

Knox County Ohio Residential Home Sales and Listing Activity for August 2008

Despite all the negative media surrounding the housing industry these days our Knox County Ohio real estate market activity is stastically beating many other Ohio markets. During the month of August the Knox County real estate market had 25 successful home sales close through the local Board of Realtors. The average home sales price for August was $135,112 with the lowest home selling for just $39,900 and the highest Apple Valley Lakefront home selling for $372,000. The total dollar volume for residential home sales for the month of August was $3,377,800. Currently there are 387 homes that are actively for sale and listed in the Knox County Board of Realtors. Based on the 25 sales in August there is roughly 15 months of active inventory on the market. What this means is that based on the current absorbtion rate of 25 per month it would take 15 months to deplete our current inventory. Fifteen ..(read more)

Mount Vernon Ohio Home Sales Activity Report

Currently there are 163 homes actively for sale in the Mount Vernon School District with an average listing price of $169,317. This average listing price is slightly higher than in years past because we have a higher number of more expensive homes currently on the market. When you calculate averages and include a home that is listed for $825,475 it tends to elevate the numbers a little more than normal. The lowest active home that is currently for sale in Mount Vernon is listed for $48,900 so there are certainly affordable homes available today that offer monthly payments that are cheaper than renting. So far this year there has been 145 homes in the Mount Vernon School District that have already SOLD. The average selling price for a home in Mount Vernon that since January 1st 2008 SOLD for $108,400. Based on the current sales activity so far this year there should be more than 240 home sales in the ..(read more)

Mount Vernon Ohio Home Sales Activity Report

5% Interest Rate On Knox County OH Homes For Sale

5% Fixed Interest Rate Loans Available on ANY of These 6 Knox County OH Homes When You Finance Your Purchase Through The Bank That Owns Them Here's The Deal...these homes are bank owned and they want them SOLD immediately. They are offering amazing incentives to Knox County home buyers in exchange for a quick sale. Here's what you get with this incentive financing package: 5% Fixed Rate Interest Loan 30 Year Loan Payment Term No PMI Required (bank waived all PMI) Only 10% Down (which can be a gift) Here are some sample payments for example purposes factoring in the details from above:
677 Floral Valley would have a payment as low as $482.66 P&I
14819 Old Mansfield Road would have a payment as low as $577.36 P&I ..(read more)

Google Search Using Your Cell Phone and Text Messaging

Have you ever needed a quick phone number and didn't want to take the time to boot up your computer and search Google and you wanted to avoid the high charge for directory assistance or 411 connect? Have you ever wanted the phone numbers for the local movie theatres or pizza places near you and you don't have anything to write the numbers down on? There is a quick and easy way to get the information you want within 60 seconds and most of you can get the information quick and cheap with your cell phone and your text message feature. Send a text message to this number: 466453 (I know this is a partial number but trust me it will work). Now type in what you are searching for and for your example use the following as a test: Plumber 43050 (of you can type in Plumber XXXX (enter your zip code where my x's are) Now simply press send and sit tight and within 60 seconds you will get a text ..(read more)

Winter Snow Storm Hits Knox County Ohio

Knox County Ohio residents got a big surprise this past weekend when 16 inches of snow fell within a 24 hour period. This was the largest single day snow storm for Ohio that was recorded in more than 50 years. On Friday March 7th the county was declared a level 2 snow emergency which means motorists were advised to say home. On March 8th they raised the snow emergency to a level 3 which means only emergency vehilces are allowed to be on the roads. When I woke up Sunday morning the roads were amazingly clean and it was very obvious that the city, the townships and the county had all worked around the clock and their efforts paid off in a big way. Mount Vernon Schools were open Monday morning and the drive to work was smooth with no issues. Traveling the roads in Mount Vernon, Fredericktown, Howard, Gambier, Centerburg and Apple Valley should be back to business as usual and in record time.

Sam Speaks at CRS in Hawaii!

Aloha! I am back from Hawaii, where I was honored to co-present the opening session of the Council of Residential Specialists’ Sell-A-Bration with Howard Brinton. I also was a featured panelist for a session on technology specialization; we discussed and explained today's latest and greatest real estate technologies such as hardware, software, websites, digital social networking, and advanced digital technologies including video and virtual tours. I believe that all in attendance learned a great deal at this event and, of course, a good time was had by all! I would love to put my put my expertise in residential real estate to work for you; if you are looking for the perfect Knox County OH property to call home, please call me at 740-397-7800 or visit SamMiller.net.

30-Year Mortgages Hit Lowest Rates Since 2005

As you have probably seen in the news this week, the Fed has recently cut interest rates again, bringing rates to the lowest they have been since 2005. Here is my advice about why this is a great time to take advantage of these low rates if you are considering buying a home:
Freddie Mac currently lists the average interest on 30-year fixed loans at 5.69 percent—the lowest level since July 2005. Other rate declines include: 15-year fixed mortgages dropped to 5.21 percent from 5.43 percent a week ago. 5-year adjustable-rate average decreased to 5.4 percent from 5.63 percent. 1-year ARMs fell to 5.26 percent from 5.37 percent.. Observers generally agree that borrowing costs will remain at or near 6 percent for 2008 unless a U.S. recession surfaces—in which case they expect rates to decline further. To learn more about Knox County OH real estate, please call me at 740-397-7800 or visit SamMiller.net.

Should You Fix It – Or Forget It?

If you made a new year’s resolution to finally get around to those fix-up projects around the house, you may quickly find yourself overwhelmed – and under-funded – if you try to tackle everything at once. RealEstateJournal.com has put together a list of pitfalls to avoid when remodeling your home in 2008. Read the full article here, or check out the highlights below: Ask for advice. Talk with a local, experienced Realtor who can help you gauge your home’s current value. Before you go pouring money into a remodeling project, it is valuable to know where your home currently stands and what you stand to gain by making improvements. To request a complimentary market analysis of your Knox County OH home, please click here. Dig deeper. Considering getting a home inspection before you remodel or put your home on the market. This will give you a very clear idea of where you need to focus your ..(read more)

2008 Knox County OH Real Estate Predictions

The National Association of Realtors has published its predictions for the 2008 housing market, and the data looks positive so far. Most noteworthy is the trend toward improving existing home sales. Lawrence Yun, senior NAR economist, said “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.” Existing home sales are expected to rise to $5.7 million in 2008 – making it the fifth highest year on record. Existing home prices, which declined 1.9% to a median of $217,600 in 2007, are expected to go back up about .3% in 2008. As Yun noted late in 2007 “even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the US are showing price increases … the apparent disparity ..(read more)

Real Estate Resolutions for 2008

Happy new year, Knox County! I hope that everybody enjoyed a very happy holiday season, and that 2008 is off to a great start for you. If you have been putting off making a resolution for this new year, why not make a few real estate resolutions now? Here are some ideas to get you started: Know your credit! Make a resolution to stay on top of your credit in 2008. Begin by getting a detailed credit report so that you know where you stand as the year begins. Check again at the end of the year to see how much your credit has improved! Keep a budget. This can be a difficult one to stick to. Many people start the year with an idealistic budget, but soon let it go out the window – oftentimes, along with any hopes of saving for real estate investment! Begin with a goal of either setting aside a certain amount for a down payment on a real estate investment or putting away enough to make one extra mortgage payment ..(read more)

Knox County OH Real Estate Update

Attention, home sellers! Even in an uncertain real estate market, there may be good news for you – depending on where you live. The National Association of REALTORS® has published the results of its quarterly sales survey and found that the median home price continues to rise in most metropolitan areas. The median is a typical market price – meaning half of all homes sold for more, and half of all homes sold for less. Lawrence Yun, NAR chief economist, said the data underscores the fact that all real estate is local. “Some metro areas are hot, while others are experiencing localized problems,” he said. As we move into a new year, we will keep a close eye on the Knox County area market trends to see how prices affect sales volume. Since the market changes month to month and neighborhood to area, please contact me at 740-397-7800 or visit SamMiller.net to get the latest information on Knox County OH real ..(read more)

The Basics of 1031 Exchange

Many homeowners have heard of a “1031 Exchange,” but few understand the basics of what an exchange actually entails. Today I want to cover just a few of the basics of the process, as it can be an invaluable method of homeownership for investment homeowners. What is a 1031 Exchange? Put simply, it is the sale of one property in exchange for the purchase another property of similar value without the required payment of capital gains tax, all performed within a specific time frame. An example of when you might use a 1031 Exchange, as opposed to selling a home and purchasing a new one outright: you want to sell your current vacation home and purchase a new, similar one that has a few better features. You have not yet owned your current vacation home for two years, so you are subject to substantial capital gains taxes when you sell it. If you were to use a 1031 Exchange, you could “exchange” your current home for a new one and ..(read more)

Go Green With Your Holiday Decorations

“Going green” has been one of the biggest trends of 2007, with homeowners seeking to make more environmentally-friendly choices on everything from cleaning products to flooring. So it only makes sense that this concern for the environment should carry over into our holiday decorating this year. Even if you have already “decked your halls,” it’s not too late to add some green décor to your display: · Use LED lights – using LED lights to decorate the inside and outside of your home will bring you many benefits. The lights last a whopping 50,000 hours – that means you could actually pass these lights down to your grandchildren some day! Adding to their cost effectiveness is the fact that you will be using 90% less energy with LED bulbs – Clark Griswald would be jealous. LED lights are also safer – they don’t produce as much heat and ..(read more)

Strategies for Coping with a Slow Real Estate Market

Although the real estate market is still down in many areas, you may find yourself in a situation such as a job relocation that will force you to sell your home or purchase a new one. This article from CNNMoney.com offers helpful information on how you can still make a smart move in this unpredictable real estate market. Here is a summary of the tips: Sell smart – if you are trying to sell your home, you must set a realistic price based on the current market. You should also discuss with your Realtor the current average “days on market” that most properties are taking to sell. This will help you better plan for your move. If you are not willing to list for the current market value, and you do not want your house to be on the market for long, consider waiting out this down market as it is likely to turn around soon. Spend wisely – try to follow the rule of thumb of spending no more than 20% of your ..(read more)