Everything you need to know about Walworth Junction
Site of HOMEARAMA® 2020
First LEED ND Certified Neighborhood – Greenest Neighborhood in the area!
39 Luxury, Single Family Homes
Site of HOMEARAMA® – July 2020
For the first time in, well, ever, HOMEARAMA® 2020 is coming to the City of Cincinnati. We’re especially excited with this site as it’ll be one of the most impressive and ground breaking (literally) that we’ve ever had the pleasure of being a part of. Why? Well because this happens to be an old railroad maintenance site that has been completely remediated by the developer and EPA to be the future site of 39 contiguous, luxury single family homes. It’ll be a one of a kind community in the City of Cincinnati for so many reasons…
Here’s what you need to know:
As a former railroad maintenance station, this site is rich in railroad history, formally known Pendleton Yards. Not to be confused with Pendleton outside of OTR, this yard and station saw it’s fair share of traffic and cars up to the mid 20th century. Over the summer of 2019, the developer in conjunction with EPA and Terracon, have been removing dirt to turn a former “brownfield” into a gorgeous new community!
East End Develepment LLC is comprised of two veteran developers, TJ Ackermann and Ralph Meierjohan. The two partners have developed countless communities over the years, including recent Citirama sites, Woodlawn Meadows and Springrose Meadows. Having decades of experience in development and building, they’re gaining national attention for Walworth Junction because of it’s site remediation, design and it’s location!
Located just down the street from the Precinct Restaurant on Delta, it’s ideally located on the edge of Columbia Tusculum in the East End and around the corner from Hyde Park and Mt. Lookout. All 39 homes are walkable to Eli’s BBQ, Hi Mark, Allyns and Pearls, not to mention countless other little shops and watering holes. This is the draw of Walworth Junction. And better yet, it’s a hop, skip and a jump from Downtown Cincinnati.
One of our favorite features of Walworth Junction is it’s own park. As you enter into the community, the park stretches hundreds of feet along Walworth and ends with a tunnel connecting homeowners and neighbors to Riverside Drive. Additionally, each home will have views of the River and the City of Cincinnati. It’s raised topography allows for these views from the 2nd and 3rd floors along with the rooftop decks, should owners go that route. AND…each owner will utilize the private drive, alley way for a rear entry garage, which means the front elevations and the streetscape isn’t dominated by garages on the front of homes!
With all of the homes being LEED Gold by Green Building Council, the tax rate is locked in for ALL 39 homes. This is part of the LEED ND (Neighborhood Development) certification, making Walworth Junction the first community in Cincinnati with that designation! In addition, there is an additional TIF Assessment on all of the lots for the EPA site mitigation, which is still being finalized. Details will be released in the coming months on this..
With HOMEARAMA® set for July 2020, the preferred builders have been set and homes will start coming out of the ground in Dec of 2019. Currently, the featured builders for Walworth Junction are:
Walworth Junction will be “the greenest” Homearama show ever! And did we mention, the first in Cincinnati to be LEED ND (Neighborhood Development) certified. Without getting too technical, this means ALL of the new homes will be LEED certified, there are points for the smart location and linkages being so close to the City, and due to it’s overall design. It will be the first subdivision that has mandated LEED Gold for every home…so you’re in good company as a resident of Walworth Junction.
So what are you waiting for? Now is the time to take a drive over to the community and meet with the builders so you can get your hands on one of the best lots!
On July 31st of this year, the Federal Reserve lowered the Federal Funds Rate 25 basis points in a much- anticipated move. As a mortgage broker, I’ve fielded many questions from our firm’s clients about this development. Specifically, people want to understand how this shift in policy impacts their mortgage and buying power in the future.
How does a Federal Reserve rate cut impact mortgage rates?
The short answer I give to my clients is to pay attention to the 10-year treasury bond rate. There is a common misconception that the Federal Funds Rate directly correlates to mortgage rates. Instead, the 10-year treasury bond is the main index lenders use to price mortgage rates. The reason? While most mortgages are 30-year products, those mortgages typically get paid off within 10 years, making it a great benchmark to determine where rates are going.
To provide an illustration, if you look at the 10-year treasury rate between January 2019 (around 2.75%) and August 2019 (around 1.66%), that 100 basis point drop is a direct correlation to how the conforming 30-year fixed mortgage rate has performed. In January 2019, that rate was around 4.5% and in August 2019 that rate is in the 3.5% range.
What are things to consider as a potential homebuyer?
1. Low interest rates represent higher home buying purchasing power
Let’s say you’re applying for a 30 year fixed mortgage loan for a new primary residence and have been prequalified to borrow up to $400,000. Last year, assuming a 740+ credit score, a 30 year fixed rate would have been in the ballpark of 4.75%. The principal & interest payment would be $2,075.43 per month. In today’s environment, that rate could be as low as 3.5%. on conforming loan amounts (<$484,350). The principal & interest payment would be $1,790.54 per month. That’s a difference of $285 per month. That also means, in today’s low rate environment, you could get approved up to $463,500. The principal & interest payment would be $2,075.43 per month at 3.5%. The drop in rates represents an ability to borrow up to $63,500 more.
If you don’t envision owning your home for longer than 7-10 years, you might consider refinancing into a 10-year fixed Adjustable Rate Mortgage (ARM). A 10-year ARM is amortized over 30 years but offers a lower interest rate than a traditional 30-year mortgage for the first 10 years. This can be a great way to save on interest payments. For example, if you compare a $1MM loan with a 30-year fixed rate at 4.25% to a 10-year ARM at 3.125%, there is an interest savings of nearly $107,000 over 10 years. Typically, you can refinance as much as a $3MM loan balance into this type of loan.
2. Look at a 15 or 20 year mortgage
Ideally, we all would like to pay off our debt in as short and inexpensive way as possible. In comparison to a 30 fixed mortgage, 15 & 20 year fixed options offer lower interest rates. The amount of interest you pay over the term of a 15 or 20 year fixed loan compared to a 30 year fixed mortgage is drastically lower. In fact, many financial advisors and personal finance experts recommend homebuyer’s utilize15 year fixed mortgages. So why do most buyers not finance their mortgage into a 15 year fixed loan? They can’t budget the higher monthly mortgage payment of a 15 or 20 year fixed loan into their budget. There’s too many other expenses, whether it be putting money away for retirement, school tuition, or lifestyle expenses. Assuming you can comfortably budget a 15 or 20 year mortgage payment, it’s a great financial tool to build up equity in your home quickly and eliminate interest expense.
3. Adjustable Rate Mortgage option
Consider this example. Say you don’t envision owning your home for longer than 7-10 years. You might
consider a 10-year fixed Adjustable Rate Mortgage (ARM). A 10-year ARM is amortized over 30 years but
can offer a lower interest rate than a traditional 30-year mortgage for the first 10 years. This can be a
great way to save on interest payments. For example, if you compare a jumbo $1MM 30-year fixed rate at
4.0% to a 10-year ARM at 3.125%, there is an interest savings of nearly $82,000 over 10 years when you
compare them side-by-side. That’s a massive amount of savings. If you select the 30 year fixed option and
moved in year 10, that’s $82,000 in interest you didn’t need to pay.
As you can see, the reasons to pay attention to rate changes are many and varied. However, as a
homebuyer, low interest rates represent a great way to increase your borrowing capacity and save
thousands of dollars in interest over the life of your loan.
Making the decision to buy a home can be an overwhelming. Tim O’Brien, at Zipfel Capital, can help you understand opportunities that will provide clarity in a complex situation like purchasing a home.
About the Author
Tim O’Brien is an equity partner in Zipfel Capital, a mortgage brokerage company based in Hyde Park, specializing in residential and commercial lending. Tim has been acknowledged by the Greater Cincinnati Mortgage Bankers Association (GCMBA) as a Diamond Level Producer, given to less than 1% of industry professionals. He has also been featured in the Cincinnati Business Courier’s “Ask the Expert” series. Tim holds a bachelor’s degree in Xavier University and is a graduate of The Summit Country Day School. He lives in Mt. Lookout with his wife and three children.
Every once in a while a new development comes around and REALLY excites us. The Meadows at Peterloon is one of those! With a proposed 42 lots in The Village of Indian Hill, right off Montgomery Rd, on storied ground, this new community will be sure to make a statement and has already garnered much attention.
Located on 142 acres of ground still owned by a few of the descendants of the Emery family, the tradition and history runs deep. The development team is working to preserve this heritage and pay homage to it’s history by designing a community that their family would be proud of.
As you may know, Indian Hill has very distinct zoning districts, typically in 1, 3 and 5 acre zones. This acreage happens to fall into each of those. That means, there are lots as “small” as 1 acre and up to 5 acres. Over the 142 acres, there are sections of woods as well as open farm fields, many of which have sweeping views. In total, there are 42 lots in the entire community, 27 of which will be developed in the 1st phase off two cul-de-sac streets.
Situated on the northern portion of Indian Hill, this property has a few very unique selling features. Walkability it the one we’re most excited about. There aren’t too many areas in Indian Hill that you’re connected to sidewalks. Nestled up against the City of Montgomery, the entrance of Meadows of Peterloon is right across the street from the Montgomery City Building. This allows access for residents to capitalize on all of the sidewalks in the community as well as dozens of restaurants and watering holes! Pretty rare for an Indian Hill Community!
One less glamorous feature is the access to sewer and water! Indian Hill is often synonymous with on-site sewer systems because of it’s rural nature. But, there are NO on-site systems needed in Meadows of Peterloon! That saves buyers anywhere from $50-$75,000+ depending on the size of the home.
These are just a few of the reasons buyers are clamoring to get into Meadows of Peterloon. Many lots are already under hold as they begin to start the development. Although much is still subject to change, the layouts and designs are being finalized by the developer and Village of Indian Hill. The developer and their team tell us that they plan to have lots ready for building towards the end of the Summer 2020. That means you could be in by that time 2021…trust us, that’s not too far away.
If you’re considering building in Indian Hill, you owe it to yourself to consider this new community. And we’re happy to share information! Classic Living Homes and Sterling Homes are already working on plans for homes in the community and would be happy to sit down with you to discuss the options!!
Don’t wait as lots are being locked up as you read this!
The Mason area continues to be a hot spot for new construction, and for good reason! With a top rated school district, an abundance of recreational outlets nearby, a wide variety of shopping and dining, and close proximity to I-71 and I-75, new home buyers consistently add Mason to their top choice for a new home. As the 2109 selling season goes into full swing, we wanted to give you a brief outline of three of the most popular New Home Communities in Mason.
For more information, contact Mike Hines at 513.260.0424 or Jan Gerding at 513.608.3770 at Build Collective at Coldwell Banker West Shell. They can get you started on building your perfect home in 2019!
If you’ve built a custom home or are just thinking about building, you’ve probably heard the word ‘allowances’ thrown around. Typically, the term is used to describe one of the most confusing and overwhelming parts of the building process, but that shouldn’t be the case. I’m here to explain how allowances work and how to best capitalize on them with your builder.
So, what is an allowance? Well, just think of it as CASH!! What’s better than cash? When a custom builder prices out a home, there are several items that can’t be defined or selected up front. An example could be the cabinets or countertops. Since you can select virtual any item under the sun, a builder gives you a cash value that you can utilize to pick out items for your home.
Here’s an example: A builder offers you a $7,000 allowance for countertops. This could go towards whatever you pick: granite, quartz, cultured marble, soapstone…you name it! You’d head to a granite or countertop supplier, typically one the builder recommends (they tend to have preferred vendors), and make a few selections for them to price out.
A few items in the home that are often allowance based are:
Flooring (Carpet, Hardwood, etc)
IMPORTANT NOTE: When reviewing if an allowance is adequate, try to do some research! You can hop online, but more importantly, go to the vendors and suppliers. They can provide accurate estimates that include labor, materials, design, etc. You can also compare builders to one another keeping in mind that it’s VERY difficult to compare apples to apples unless you’re looking at the exact same plan, spec and allowances!
The good news is allowances are often traded amongst each other. Think of all of your allowances as separate buckets of cash. You can take money from one to help pay for another. If you’d rather spend your money on a high end appliance package because you’re a gourmet chef, then take a little bit off a few other less important items like landscaping or lighting.
Tips for managing your allowances:
If you know an allowance isn’t adequate, increase it! This can be through negotiating or adding cost to the contract. If you go over your allowances, you often have to pay cash at the end of the build. Why not increase it slightly and finance that amount. You always have the option of putting more cash down at the end, but at least you’re not backed into a corner!
Ask your builder for a list of suppliers and vendors. Go and meet with them briefly to discuss what things cost. A few meetings can give you peace of mind in knowing where you stand.
Tour Homes! Chances are your builder has a few recent homes that you can tour. Ask them what they spent on the kitchen cabinets, bath fixtures, etc. If it was built within the past year, those numbers should be relatively close.
Watch out for the internet! Chances are most items are cheaper online. You can buy everything on Amazon, but do you really want to outfit your house on there? Local Suppliers and Vendors might be a bit more expensive, but your builder uses them because they more reliable, they include installation (most often), and you know you can call them if there’s an issue. Builders always dread the statement, “I found this cheaper online!” so beware!
ALTERNATIVES: If you’re not comfortable with Allowances, there are alternatives that builders can occasionally offer. They’re not as common in custom building and often a little more restricting, but some builders might offer packages of selection items. This is common in production or semi-production builders. They offer lighting packages, countertop packages, or potentially option A,B,C packages that you can choose from. This is easier to manage and keeps you for over-spending, but are limiting because you can’t select anything under the sun! There is a time and place for this type of selection process so try to know yourself before jumping into this type of situation.
If you’re still with me now, that means you’re an allowance expert and you have nothing to worry about! Chances are you’ve selected (or will select) a great builder and will do the necessary research to feel comfortable. If you’re still a little weary, reach out to a new construction specialist/agent in your area! They can save you TONS of money!
It was a bittersweet moment when we moved out of office suite at the Millennium Business Systems Building in Symmes Twp on a cold, winter day in January. It wasn’t exactly the smoothest move with losing our original mover five minutes before starting (shout out to All My Sons Moving Company for saving the day!) and then Drew Mannix, our skilled videographer, slipped and fell off the delivery truck! But, we figured it out, wiped Drew off and settled ourselves into our new home at 9361 Montgomery Rd Suite D in the heart of Montgomery!
Moving into a new office is a lot like moving into a new home…it takes a while to get settled. Especially, since Millennium had become home for so many years. It was the place where Build Cincinnati grew from just being my Dad, Bill, and I to a team of many! We had fantastic neighbors, our friends at First Title, and incredible landlords, the copier and printer Mavens at Millennium Business Systems.
Now, with over a month under our belt in our brand new digs here at Montgomery Commons, we are now excited to call ourselves Montgomery residents. Being located smack dab in the heart of downtown Montgomery, we’ve already been enjoying the new neighborhood by eating at European Cafe and Napa Kitchen and grabbing a drink or three at Z Wine Gallery. Hopefully you’ll see our sign next time you drive by on Montgomery Rd.
We’d love to see you! Take a look at us working hard in the office below! Or feel free to come see us or give us a call at 513.260.0424 !
With land prices going up across the board along with building costs, townhome living has become increasingly attractive to all sorts of buyers. Townhome living is nothing new as they’ve been around for decades, but recently, options are becoming more and more prevalent.
Now, it might be obvious, but what is a townhome? If you Wikipedia it, the history of a townhome is quite interesting considering why people often decide to live in a town home:
In the past, “a townhouse was the city residence of a noble or wealthy family, who would own one or more country houses in which they lived for much of the year. From the 18th century, landowners and their servants would move to a townhouse during the social season.”
It’s funny to see that even in the past, people we’re attracted to townhomes because of the social component. That couldn’t more true today. Since townhomes are typically vertical in nature with multiple floors of living, they tend to be clusters with many units in one complex. This can be very desirable when located around vibrant and bustling areas where buyers are looking to capitalize on their surroundings rather than focus on maintenance of their homes.
And, with pricing going up across the board and demand for living options near these walkable districts at an all time high, townhomes are becoming a great option when zoning allows. In the near future, we see townhomes and more dense units hitting the market in an effort to create more “affordable” or workforce housing options.
So, lets take a look at some of the top townhome projects in the works near in Cincinnati.
BROADWAY BROWNSTONES in Loveland
Priced from $399,000 • 1,900 Sq. Ft. • Only 1 Unit Left!
The Broadway Brownstones are located directly on the Little Miami Bike Trail in Downtown Loveland. With an bustling downtown district with Breweries, restaurants, candy shots, and an awesome new jewelry shop (shout out to Welling and Co!), Loveland is a force to be reckoned with! Dont miss the chance to live at Broadway Brownstones. Only One Unit Left… Builder Model! Check out the full website here
THE ALLORA ON MADISON in Oakley
Priced from $495,000 • 2,000 Sq. Ft. • Only 4 Units Left!
The Allora has been one of the top selling townhome project in the Cincinnati area. It’s no surprise through given that it’s in the core of downtown Oakley next to St. Cecelia and steps from the Madtree, Crossroads, and pretty much every possible convenience you could ask for. Check out the available units here
PARK MANOR in Blue Ash
Priced from $600,000
Luxury living in the heart of Blue Ash! Luxury, Convenience and Carefree living in a beautiful master planned community that offers something for everyone. Learn more about the Park Manor Townhomes here!
If you find that townhome living sounds like the perfect solution for you, reach out to us! We can give you more information on the featured townhomes above, or help you find another community that is perfect for you!
Over the past 10 years, we’ve been building the framework of what is now evolving into the Build Collective. It’s been an exciting ride to say the least! A ride that’s been built on the trust and camaraderie of our clients and friends and on the hard work of each member of our firm. And we’re just getting started!
To kick off the new year, we’re proud to announce that Build Cincinnati is now Build Collective!
As you can see, our new name and brand isn’t a huge departure from what we’ve been as you can see. In fact, it’s still all about you. Our logo will NEVER be the prominent thing you see. Our business has always and will always be about your property not us as the Realtors.
So, why are we changing our name, you might ask?
Well, it’s less of a change and more of an evolution of our company. Given that each of us have specialized expertises in different areas, we wanted a name that would encompass that. Also, it’s not just about us. We work with incredible builders, developers, buyers, sellers, home owners, engineers, architects, and municipalities everyday that each play a role in our success.
Essentially, we are now, more than ever, a collective of individuals and companies that are as much partners as they are clients. We work together as a team to provide the best suite of services possible. We all know that each sale and transaction takes a village!
At Build Collective, we are different things to different clients: We are Realtors. We are a Marketing Agency. We are Developers. We are Communicators. And, most important, we are advocates for you! Collective was a word that described that best and didn’t limit us base on geography…Sorry Kentucky!
And, another announcement… Did we mention this new name needs a new office! At the end of January, we’ll be moving to the heart of Montgomery (not far from where we are now) to 9361 Montgomery Rd Suite D.
Over the next several weeks, we’ll slowly be rolling out our new name on our website, signage, brochures, and other marketing materials. But, just as it’s been since out start, it won’t be all about us. It’s about you. So, as we set out to tackle the 2019 real estate market, we set out with a new name, new office and tremendous excitement, but the same mission: to provide unparalleled, specialized service for each of our clients!
Thanks as always for your support and cheers to 2019! Mike Hines & the Build Collective Team 9361 Montgomery Rd Suite D, Cincinnati, Ohio 45242
So you’ve put a contract in on a homes and now It is time for inspections. You may think that the most important thing when negotiating the contract is the purchase price, but in our opinion it is the inspection process!
Hiring a certified home inspector is one of the best decisions you can make when buying a home. They are over 1,200 items that home inspectors look at during the inspection on your new home. Some of the biggest items are: structure, foundation, roof, plumbing, mechanicals and appliances. There are also other inspections that you can have done usually for an extra cost that include radon, termite, sewer and mold testing.
Buying a home is normally the largest investment that you make in your life so it is very important to have all of these items checked so you make a wise financial decision.
Can you imagine buying a house and not having an inspection done? Imagine a year later finding out you have major structural issues or that you need a new roof. Having an inspection done before purchasing a home can protect you for years to come on your new purchase! If issues are found during the inspection, you as a buyer can negotiate items to be repaired or replaced by the seller. The Seller is not obligated to fix any item, but it allows the buyer the option to reconsider the purchase or fix things before they move in.
This is why we feel the home inspection process is one of the most important steps when going through the home buying process. Don’t make the mistake of buying a new home without having an inspection performed!
If you’ve driven through Madeira over the past few months or even few years, I’m sure you’ve noticed all of the new construction popping up. It comes as no surprise to residents in the community since they know that Madeira is such an attractive place to live with it’s walkability, downtown district and proximity to Downtown as a suburb. And, of course, we can’t forget to mention the highly rated school district – one of the top in the State!
But, how do you sift through and compare all of the new construction opportunities? This is a request of our clients all the time and it’s simple to breakdown. You just have to break Madeira up into sections and understand the key players….
So, let’s take a closer look:
In Madeira, there are quite a few great builders: Ashford Homes, Legendary Homes, Buckhead Homes, & John Henry Homes to name a few. These builders each have their own strengths that draw clients in their own way. We’ve had the opportunity to work with virtually every builder in the area and know how great they are.
Let’s dive into one builder in particular so we can explain Madeira and it’s opportunities. John Henry Homes is one of Madeira’s most active builders with almost a dozen lots and half a dozen homes under construction. Before you ask, yes, we represent John Henry in Madeira, so of course we’re biased.
If you don’t know, John Henry is not a person. It’s two people. Josh (Henry) Blatt and John Blatt are brothers that have been building for 25 years. They have built all around the Cincinnati area for hundreds of happy customers and pride themselves on offering a quality home with as little frustration as possible.
As you review John Henry’s lot inventory, you’ll see that they have homes ranging in the low end (for Madeira) at $550,000 to up over $700,000. These price point differences come from size of home to lot type and location. Jumping into a few examples we can break Madeira up into two sections:
East of Miami and West of Miami:
On the WEST SIDE of Miami, you’ll find larger lots in Madeira. Larger is relative, but this means they’re anywhere from 70′-80′ wide and homes start around $700,000 because the lots and teardown homes are more expensive.
Example: 7431 North Mingo by John Henry Homes. Although this home as not been set, it would most likely feature a 3 car front entry garage with 2800 ft. plus above grade for around $729,000.
List of lots available on the WEST side of Miami:
7431 North Mingo – 80′ lot
7210 Fowler – 80′ lot
7128 Mayfield – Smaller 60′ lot, exception to the larger lot
On the EAST SIDE of Miami, lots tend to be a bit cheaper and smaller. They range from 50-60′ wide and around 140′ deep. This allows for 2 car front entry homes at anywhere from 2400-2600 ft (sometimes more) and homes priced from $550,000. Historically, the further east you go the lesser expensive the lots, but this is NOT always true.
List of lots and homes available on the EAST side of Miami:
Keep in mind there are exceptions, like Southside, Summit, Fowler, Mayfield as I mentioned above. This section is south of Euclid on the west side of Miami.
That said, the above breakdown is a good basis to follow so you can know where to focus your search based on your price point. Of course, there plenty of great builders and we encourage you to meet with a few, but select your favorite lot! You can always change things in the house, but you CAN’T change the location or lot.