Cincinnati, OH - Cincinnati REALTOR® Sandy Bakst of Keller Williams Advisors Realty says that record low real estate prices and interest rates are spurring home buyers to make offers in the Cincinnati and Northern Kentucky areas.
He says low prices are due largely to the mortgage crisis of the past several years, which has trickled down into many other parts of the economy. Historically low interest rates and a still-high inventory of foreclosures and bank owned properties have contributed to creating attractive home values for buyers, according to Bakst.
“With the Federal Reserve's end of QE2 coming up, there is a fear in the market that interest rates will start rising again. When they do, some of these buying opportunities for Northern Kentucky and Cincinnati homes for sale could go away.”
"First time home buyers and families wanting to trade up are in a very good position right now. In some cases, Cincinnati real estate is selling at 50% off its peak values."
He says there's no certainty in the market about how long this price and interest rate combination will last, but for now, it's creating a buying opportunity for smart buyers and investors.
For more information, please contact:
Sandy Bakst
Keller Williams Advisors Realty
3505 Columbia Parkway
Cincinnati, OH 45226
513-315-9295
http://www.sandybakst.com/
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