Russ Connors, Broker/Owner

10950 Taylor Mill Rd.
Independence, KY  41051

Commercial and Residential Real Estate Services in Northern KY

Licensed in OHIO  under Community Realty, Milford, OH

Commercial: Retail & Office sales and leasing
Residential: listing and buyer representation; short sales; REO specialist and BPOs

Northern Kentucky and Cincinnati area's most dedicated Real Estate professional that focuses on you....the buyer or seller; landlord, tenant or REO company....helping you throughout a hassle free real estate property transaction.

KENTUCKY:

I operate as a Real Estate Broker/Owner :  Russ Connors Realty, LLC
                                                                    10950 Taylor Mill Rd.
                                                                    Independence, KY  41051
                                                                    Cell:  (859) 468-0130

Housing "Rescue" package--- will it help?

Market improving a little? Check this article out.

Question: Is it better to sell in a slumping market and subsequently buy your next home at a discount or sell in a rising market and buy at rising prices?  This is a great time to sell and get to pick your next home out of a good size inventory of real good homes.

"Loans are hard to get." Right or wrong?
        WRONG!    Don't listen to the media....bad news sells! If your credit history is not banged up you should be able to qualify for a very low interest loan.

Reasons to list your home NOW!!:  Click here

My website traffic increased 35% in just one month. List with me and get results.

What's going on in Independence?....Residential or Commercial. In Independence it's Russ Connors Realty, LLC. Get in on the ground floor of one of the fastest growing markets in the Northern KY/ Cincinnati Metro area. # of households, in Independence, grew 65% between 2000 & 2006. Independence is being described as the upcoming "epicenter of retail" in Kenton County.

Interest Rates Going Up Next Year--

Angel Gurria, Secretary General of the Organisation for Economic Co-operation and Development, said on 15 November 2007, that he projects interest rates for the regular consumer going up in the April-June timeframe of 2008.

An article in MoneyNews.com points to Freddie Mac raising rates to stem inflation concerns.

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New Construction:

• Russ Connors can help you find the "right builder" and secure the homesite that meets your needs and wants. Russ has experience representing buyers of "new construction". One mistake buyers of new construction make is assuming that by cutting the Realtor out of the "deal" they can get a deeper discount from the builder. Most reputable builders will tell you that they build in a commission to the buyer's Realtor into their marketing budget and so whether or not you use a Realtor to represent your interests, or not, most often it doesn't affect the sale price....just your probability of being adequately represented in the largest purchase of your life.

 

 Strategies in a Slumping Market

• Buyers/Investors:

  • Investors have a great opportunity to pick up multi-family properties, rehab them and rent them out. CAP rates above 8.5% are not unrealistic. There are many properties to select from because too many "investors" loaned up their properties too much and now are "under water". Maintenance is being neglected.....tenants moving out or at least complaining a lot.....causing the owners to say...."I've had enough....SELL!!!! Independence has a good deal of land that could be developed for multi-family homes.

  • Record inventory means more homes to pick from at competitive prices. Sometimes you buy a home because you NEED one, not because it's a great investment. If you NEED a home, you will have many to pick from because of the large inventory. One suggestion....don't ruin your chances of getting the home of your dreams by "low-balling" the offer. The Northern KY statistics show that most homes sell at ~ 96-98% of last list price....not 80% like some media news hounds would lead you to believe.

  • Interest rates are near record lows and many many people with decent credit. can qualify for a mortgage .....don't believe the gloom and doom news you're hearing on the mainstream media. No.....you don't need 20% down, as the main stream media is saying. FHA is underwriting loans right now that require a lot less than 20% down....just a decent credit score. If your score is above 575 and you can put 5% down, you should be able to work out a loan.

  • Many "foreclosure homes" or REO properties are coming onto the market. They are at all price levels. These could be a very good opportunity for you to buy an affordable home or pick up another rental property. Many of these REO homes will be sold "As Is", so be careful and make sure you have a competent home inspector inspect the home for defects. Title exams are a must. Know what you're getting into. Here's an article I found on the web dated 11 October 2007:    http://biz.yahoo.com/ap/071011/foreclosure_rates.html    I'm seeing REO companies wanting FICO scores if there is less than 20% down payment.

  • Master Commissioner sales are time consuming and risky. More often than not, the "Plaintiff" gets the property back. If you "win" the auction, you probably have not been inside the property and therefore its condition is a question mark. I would suggest being real careful and expect title "issues". If you're looking for a bargain, I have better/less risky ideas. Call Russ-  859-468-0130.

  • Renting is not the safest approach it used to be. Landlords could be getting behind on their mortgage payments and get foreclosed on....forcing you out on short notice. I see rents rising due to demand and shrinking availability. Investors/Developers looking for land to erect a 5+ unit MultiFamily building should contact Russ Connors. Get in on the ground floor before everyone else has the same idea. I'm predicting a shortage of rental units.

  • Waiting for prices to go lower? There is a limit how far sellers can go down on their price without bringing lots of money to the closing table. If you see a home that meets your needs, call Russ Connors (859-468-0130) and let's discuss the next step. By the way....the next step is becoming pre-approved. Get pre-approved and be ready to share your FICO score with the seller.

• Sellers:

  • There are 4 keys to selling homes: LOCATION, PRICE, TERMS and CONDITION. PRICE is 90% of the marketing. If the price is wrong, practically nothing else matters. Unfortunately for sellers, too many buyers want a good investment as well as a good home. As sellers, you need to attract folks looking for a nice home....because they NEED one. People still NEED homes. Develop a marketing plan with your Realtor (hopefully, Russ Connors). In this market, looking at comparables more than 5 months old could result in a false market indicator. This is a rapidly changing market and therefore comparables no older than 5 months should be the best indicators of market value. Russ Connors will study your neighborhood and determine how many months supply of homes are on the market. One competitor sellers will encounter are sellers of foreclosed homes. They will keep dropping the price until it sells. Then....that sales price may get used as a comparable (even though were told appraisers won't do that). In Independence, KY, for all price ranges, the inventory has increased from 7.0 to 8.4 months to 9.8 months supply (as of 30 July 08). There are 305 homes for sale in Independence right now (30 July '08). 31 sales occurred in the last 30 days up to 30 July '08 with the average DOM (Days On Market) increasing from 99 to 112 days. If a home is priced above "market value" it will take much longer to sell; if priced below "market value" it should take less time to sell. I just had one of my listings go "Pending" in less than 30 days......it was priced to sell quickly....and IT DID!! A balance market is one that has about a 6 month supply of homes. The absorption rate has slowed following the national trend.

  • Many homes are not priced to "market". Why????, you ask......Because the seller will be upside-down if they lower the price to "market value". Too many pending deals are falling apart because the seller incorrectly calculated how much money they needed to BRING to the closing.

  • Develop a contingency plan if the original plan doesn't work out. Consider what happens when the buyer's lender informs the buyer that their source of funding dried up and now can't do the loan. Have contingencies thought out BEFOREHAND.

  • Work out a "Net Sheet" based on various sales price scenarios. Don't get surprised the day before the closing with how much you may need to BRING to the closing if you are "upside down".

  • Behind in mortgage payments?-----  Don't wait until the lender sends you a pre-foreclosure letter. Contact a "competent" Realtor who knows how to do a "Short Sale". He/She may be able to save your credit standing, instead of having a foreclosure on your credit record. Don't just let a foreclosure happen. It will be a long time before you will be able to buy another home if you just let events end up with you being foreclosed upon. A "Short Sale" is a win-win for everyone involved. Ask your Realtor how many short sales they have done.....it's not for beginners.

  • Russ Connors Realty, LLC uses every arrow in the quiver to motivate a buyer to consider a listing we have. Russ uses targeted post cards to potential sellers. Russ has techniques for zeroing in on potential buyers. Russ has many ideas on how to sell a saleable listing. Contact Russ Connors to find out how he can help you. Houses are selling.....just the ones priced right.

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Russ Connors Realty, LLC focuses on residential and commercial real estate in Northern KY, specifically Boone, Kenton, Campbell, Owen, Pendleton and Grant Counties. Most of my activity is in Kenton and Boone counties. Cities that I most often work in are: Independence, Taylor Mill, Ludlow, Fort Mitchell, Fort Wright, Lakeside Park, Crestview Hills, Edgewood, Crescent Park, Crescent Springs, Kenton Hills, Park Hills, Villa Hills, Morningview, Ryland Heights, Covington, Florence, Burlington, Hebron, Walton, Union and Verona. Commercial opportunities abound in Northern KY.....just look at the demographics.

Russ Connors Realty, LLC is a HUD Registered Broker which means that buyers can call Russ Connors and have him show any HUD house they may be interested in. Russ can provide you a list of HUD houses for sale. There are great HUD programs like the Good Neighbor Next Door Sales program that offers great savings ( up to 50% off listed sales price).

Russ Connors Realty, LLC can assist any Commercial brokerages not licensed in KY with finding suitable sites for retail businesses.

Russ Connors Realty, LLC can provide commercial as well as residential BPO (Broker Price Opinion) services. Accuracy and timely work is our specialty.

Buyers and investors looking for bank owned foreclosed properties can work with Russ Connors who will set up a specific search so that newly listed properties are emailed directly to your email address allowing quick action to be taken. Jump on those bargains fast before they attract a crowd.

First time home buyers will enjoy working with Russ Connors Realty, LLC. After an initial meeting to learn how Russ Connors can help first time home buyers, targeted searches will be set up taking into account communities of specific interest in the pre-determined price range.

OHIO:    I operate as a Sales Agent under:    Community Realty
                                                                            5655 Mellie Lane
                                                                            Milford, OH  45150
                                                                            Office Phone:  513-575-3707
                                                                            License #:  SAL2003001927

•  OHIO Counties I specialize in:
  Hamilton, Butler, Warren, and Clermont Counties

• Specific communities I work in:
  Cincinnati, Milford, Madeira, Blue Ash, Anderson Township, Fairfield and Liberty Township
             

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