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A big April was backed up by a huge May. The Northeast Cincinnati Analysis for May 2010 shows a 36% increase in the number of homes sold over May 2009. Homes Sold in May 2010 was 121 and in May2009 the number was 89. The increase over April 2010, just thirty days ago was exactly 10%, as 110 homes were sold in Northeast Cincinnati during a big April 2010. The total dollar volume also increased substantially. May 2010 total dollar volume as $38.37 million. May 2009 was $25.75 million. This shows an increase of 49% in total dollar volume. Once again, the May performance is tightly tied to the Federal Tax Credit that expired on April 30th. It will be interesting to track the home sales during our summer and early fall months. |
Monthly Homes Sold Report – May 2010
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What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
