Skip to content

Morelein Lager House – Opens February 27

February 22, 2012

It’s not a house you can live in, but the Morelein Lager House at The Banks is definitely going to be a fun “house” to visit!

The establishment is set to open its doors to the public on February 27, 2012. With a nod to Cincinnati’s brewing history, the lager house commissioned murals of Cincinnati’s beer barons (painted by Cincinnati artist Jim Effler) to serve as visual reminders of how robust the beer industry once was in Cincinnati.

Different areas throughout the establishment have been named for many  of the former Cincinnati breweries: Schoenling booth, John Hauck Brewing Co. room, Windisch-Muhlhauser dining room, Hudepohl bar, and Burger hallway.

The lager house will hold up to 1,400 people indoors and out. (The event lawn can hold up to 3,000 people.) There will be 90 beer taps to serve thirsty customers and a 50-foot long bar.

Roll out the barrel and plan on visiting this new establishment soon!

Learn more about the Morelein Lager House:

Tour Downtown Cincinnati…on a Bike Built for 15!

February 8, 2012

This is so cool! Coming soon to downtown Cincinnati is Pedal Wagon , a 15-person bicycle.

This unique vehicle is 17-feet long and weighs 2,100 pounds. There are six seats on either side and a three-seat bench in the back and a driver in the middle.

No worries for those non-athletic people — the bike can actually be powered by one person.

The Pedal Wagon will make its inaugural visit at the Cincy Beerfest in February.

The bicycle will be used by the American Legacy Tours during the day and it can be rented in the evenings for groups who want to have a fun, unique experience for their pub crawls or other downtown activities.

Read more about this bicycle here.

December Home Sales Up; 2011 Sales At 99.36% of 2010

January 23, 2012

From the Cincinnati Area Board of Realtors:

How are 2011 Cincinnati home sales similar to P&G’s Ivory soap TV commercials several years ago?  Both reported favorably over 99%.

 The commercials touted Ivory soap at 99.44% pure.  Local home sales in 2011, likewise, hit 99.36% in total volume vs. 2010 sales. 

 Home sales in December, for the sixth month in a row, continued a positive trend with 1,294 units — up 7.65% over December 2010.  Annually, there were 16,829 sales in 2011 compared to 16,937 in 2010.  Second half sales of 2011 were positive, making up for a difficult first half.

 Last month’s average price was $146,259, compared to a year ago of $160,295.  The average price for 2011 was $151,384 compared to $158,560 in 2010.

 “We had an unbelievable run the second half of this year amidst unfavorable economic news,” said Tom Hasselbeck, president of the Cincinnati Area Board of Realtors.  “The sales performance in the greater Cincinnati market proves that buyers are finding great values and not waiting to make their purchase.  As long as interest rates remain low and the job market stabilizes, now is a superb time to buy as the economy continues to improve.” 

 Today, the average interest rate in Cincinnati is 3.91% for a 30-year fixed rate mortgage.  Nationally, the average interest rate is 4.18%.  Many experts claim that the low interest rates will not last. 

 The Cincinnati area housing market has 8 months of available inventory compared to nearly 10.5 months a year ago.  A continued decrease in inventory would result in a greater demand, possibly leading to an increase in the average sale prices of homes.  The National Association of Realtors claims that an inventory level of less than 6 months leans toward a “seller’s market,” where the price of homes could rise. 

 “So if you are in the market to buy a home, don’t wait,” says Hasselbeck.  “Take advantage of the affordable homes in the Cincinnati market.”

  Summary of Single Family and Condominium SalesMultiple Listing Service of Greater CincinnatiCincinnati Area Board of Realtors®

 December Home Sales

Closings          Gross Volume         Average Price          

December 2011                      1,294          $189,258,762              $146,259

December 2010                     1,202          $192,674,303              $160,295        

Variance                                  + 7.65%                    – 1.77%                – 8.76%

 Yearly Home Sales

                                                   Closings          Gross Volume          Average Price         

Jan-Dec 2011                        16,829          $2,547,641,495             $151,384                

Jan-Dec 2010                       16,937          $2,685,525,814            $158,560        

Variance                                  – 0.64%                      - 5.13%                 – 4.53%

 Nationwide, December home sales were up 5.0% from November on a seasonally

adjusted basis and up 3.6% from December 2010. 

Interested in previous month’s press releases you can see many of them here, here, and here.

Survey Shows Baby Boomers’ Potential Impact on the Next Generation of Home Buyers

December 19, 2011

A national survey commissioned by Better Homes and Gardens® Real Estate has found that baby boomers are part of a growing trend in which they are helping their children or grandchildren become home owners. According to the survey, one in five baby boomers has already gifted, loaned or co-signed a loan to support their children or grandchildren in purchasing a home, and more than two-thirds of boomers want to provide this type of support in the future.

I have seen this first hand in my transactions.  I can think of at least half a dozen sales with this type of support/help over the past year or so.  In fact, I recently had an adorable young couple who had just moved back to the area and were still in the process of finding and starting new jobs. With a young child and another on the way, living in their parents’ basement wasn’t ideal but navigating though the lending process with new jobs was difficult.  So the in-laws were able and willing to loan them the money to purchase the perfect house.  The plan, of course, is for them to get their own loan as soon as they can but in the meantime this solution worked great for everyone involved. 

Aside from the good investment rationale, baby boomer respondents in the survey cited that the willingness to provide financial support to their children and/or grandchildren was out of love. By providing financial support to assist in the home buying process, respondents stated that they could ensure their children and/or grandchildren would benefit from their estate and fulfill a large part of achieving the American dream.

Key findings from the Better Homes and Gardens Real Estate baby boomer survey include:

  • One in five baby boomers have already gifted, loaned or co-signed a loan to their children or grandchildren for a down payment on a home.
  • Looking ahead, one in 10 baby boomers say they will “definitely” provide their children or grandchildren with financial support for a down payment on a home, and at least half hope to do so.
  • In total, more than two-thirds (68%) of all baby boomers said they want to provide future financial support for their children or grandchildren to purchase a home.
  • Those who have already provided past support are also most confident that they will do so again.
  • Highest interest in providing support is reported among younger (age 45-54), more affluent (household income of $75,000+) baby boomers who have at least one adult child (age 18-34).
  • Baby boomers are driven to provide financial support primarily by their belief in the overall investment value for them and/or their children or grandchildren, and the role homeownership plays in fulfilling the American dream.
  • Older (age 55+) and more affluent ($100,000+ household income) baby boomers are more likely than their younger or less affluent counterparts to have previously provided financial support.
  • Across prior support and future interest, baby boomers show more interest in gifting or loaning money; they are least interested in co-signing loans.

What about you?  Would you consider helping your children or grandchildren buy a home?  Or have you been helped by a parent or grandparent?

To read the full article go here

When Snow Removal from Your Roof is Necessary, Plus Safety Tips

December 10, 2011

Snow removal from roofs is rarely necessary, but when it is, it’s a dangerous job. Tips and advice about what to do when your roof is loaded with snow.

If you’ve had a big snowfall in your area and you’re wondering if your roof  can stand the extra weight, don’t reach for a ladder and a shovel — reach for  the telephone. Calling in a professional to remove ice and snow from your roof  is the smartest — and safest — option.

When (if ever) is it necessary?
The critical factor  in determining excessive snow loads on your roof isn’t the depth of the snow,  it’s the weight, says home improvement expert Jon Eakes.
That’s because wet snow is considerably heavier than dry, fluffy snow.  In fact, 6 inches of wet snow is equal to the weight of about 38 inches of dry  snow.
The good news is that residential roofs are required by building  codes to withstand the heaviest snows for that particular part of the  country.
“Theoretically, if your roof is built to code, it’s built to  support more than the normal load of snow and ice,” says Eakes.
You can  determine the type of snow you’re getting simply by hefting a few shovelfuls — you should be able to quickly tell if the current snowfall is wet or dry. Local winter  storm weather forecasts should alert you to the possibility that snow loads  are becoming excessive and a threat to your roof.

How do I know  there’s a problem?
An indication that the accumulated snow load  is becoming excessive is when doors on interior walls begin to stick. That  signals there’s enough weight on the center structure of the house to distort  the door frame.
Ignore doors on exterior walls but check interior doors  leading to second-floor bedrooms, closets, and attics  in the center of your home. Also, examine the drywall or plaster around the  frames of these doors for visible cracks.
Homes that are most  susceptible to roof cave-ins are those that underwent un-permitted renovations.  The improper removal of interior load-bearing walls is often responsible for  catastrophic roof collapses.

The snow load seems excessive, now  what?
Most home roofs aren’t readily accessible, making the job  dangerous for do-it-yourselfers.
“People die every year just climbing  ladders,” Eakes points out. “Add ice and snow and you’re really asking for  trouble.”
Instead, call a professional snow removal contractor to safely  do the job. Check to make sure they are licensed and insured — that immediately  sets them apart from inexperienced competitors.
Pro crews attack snow  removal with special gear, including sturdy extension ladders, properly anchored  safety harnesses, and special snow and ice-removal tools. Expect to pay $250 to  $500 for most jobs.
Don’t expect (or demand) a bone-dry roof at job’s  end. The goal is to remove “excessive” weight as opposed to all weight. Plus,  any attempt to completely remove the bottom layer of ice will almost always  result in irreparable damage to your roofing.

The  do-it-yourself option
If you have a small, one-story bungalow  where the roof is just off the ground, taking matters into one’s own hands may  be safe — if you can work entirely from the ground and have the right  tools.
Long-handled snow rakes work great on freshly fallen snow,  and at $45 they are relatively affordable. Look for models with sturdy  telescoping handles and built-in rollers, which keep the blade safely above the  shingles.
Other versions work by releasing the snow from underneath.  These models slide between the roof and snow, allowing gravity and the snow’s  own weight to do most of the work. Models range from $50 to $125 or more for  unique systems utilizing nylon sheeting. Again, search out models with sturdy  adjustable handles.
Eakes offers a common sense word of caution about all  these snow removal tools. “They tend to work their best on light, fluffy snow — the kind that probably doesn’t need to be removed in the first  place.”
You’ll need to anticipate where the snow and ice will fall as you  pull it off your roof — you won’t want to pull a load of heavy, wet snow down on  top of yourself or any helpers.
Remember, the goal isn’t to remove all  visible snow and ice, but rather just enough to relieve the excessive load on  the roof.

Follow

Get every new post delivered to your Inbox.

Join 424 other followers