CINCINNATI - The housing market bust is over according to a report from the Wall Street Journal . But does that mean you can expect your home's value to increase?
President of The Cincinnati Area Board of Realtors Tom Hasselbeck says the short answer is yes, but expect a slow and steady increase. Hasselbeck says home sales have been up over the past 12 months and June's numbers are expected to be up also.
But Hasselbeck is reluctant to say the market has passed a milestone. "We're making headway. I'd say it that way," he said.
Fran Hendrick recently sold her home in Landen to move into another home in Landen. Once she put her old home on the market, she says she had an offer in 24 hours.
"It was an amazingly fast process but it took truly the expertise of somebody helping me," Hendrick said.
Hasselbeck says it's definitely cheaper to own a home than to rent because of record-low mortgage rates.
"We're also seeing an increase in average sale price, which is excellent," he said.
Hendrick sold her home for 97 percent of her asking price. "It was a matter of pricing it right and staging it really well and strategically putting it on the market."
Hasselbeck said the toughest challenge to the market locally is a lack of good inventory.
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