Cincinnatti Condo Connection - Part 5

Historic School House Lofts Condo in East Walnut Hills #33

Walk to cafes, restaurants, breweries and shops on  Woodburn Avenue  East Walnut Hills Business District. School House Lofts was formerly Walnut Hills High School, it was converted to condos in the early 2000’s.  Soaring 12 foot ceilings, huge windows and the turet make this condo an architectural delight.  It’s 2 bedrooms and 2 baths with high end finishes.  It even has a garage! This Condo Sold for $204,000 on 9/2017!                                     See Video      

See MLS Link for more detail

Woodburn Avenue at DeSales Corner

See video of School House Lofts #33.

Regency Square Condos in Hyde Park

 

https://vimeo.com/user17597713/review/267297093/3b3ab2f342

https://vimeo.com/user17597713/review/267298213/7879babb6e

Regency Square is one of the best values in Cincinnati.  If you are looking for a condo in Hyde Park that is not in a high rise but has amenities, you should definately consider Regency Square.  It’s behind the Regency Towers.  Each unit has a private entrance and private outdoor space.  Some of the units are single story 2 bedroom/2 bathrooms and others are two and three bedroom townhouses.

 

 

 

 

10 “Must Do” Items Before Listing Your Condo For Sale

1) Have HVAC serviced and save the report for buyers. The most common item I see come up on post inspection requests is an allowance for an HVAC at the end of it’s life.  Be proactive, show that you service it and that it’s in working order and you may save yourself thousands of dollars.

2) Make sure all doors close properly and repair doors that don’t. Same with cabinet doors.  Doors and cabinets that don’t shut properly are annoying and are easily and cheaply fixed.

3) Repaint if necessary, especially if the colors are no longer fashionable.  Red and gold, remember the jewel tones of the 90’s.  They look terribly dated now.  Try Sherwin Williams Agreeable Gray.  If there is prior water damage that has been resolved, please repaint the ceiling. Yes, you need to disclose if there was water damage but if you leave the spot on the ceiling, it makes buyers nervous.

4) Make sure all faucets are working properly.  No one likes to see a drippy water faucet. If they are old and unfashionable, change them out with newer inexepensive faucets.

5) Make sure the toilets are not running.

6) Make sure all lightbulbs have been changed to attractive bulbs (no CFLs) and that all are working and free of dirt and debris.  Otherwise buyer’s inspector will tell buyers to bring an electrician to make all lights operable. They don’t carry spare bulbs for testing.  Also, good lighting can make a home look cozier and prettier.  Bad lighting just makes everything look uglier.

7) Make sure washer and dryer are working or remove them if they don’t.

8) Make sure you have all of your current HOA docs including any amendments, master insurance policy, rules and regulations, minutes from board meetings and current year operating budget and balance sheet.  You will be asked for these things and you don’t want to wait until that moment to try to get these items.

9) Check smoke detectors.  Make sure they have new batteries if they are not hardwired and get rid of the ugly yellow ones and replace them with new white ones.

10) Deep clean and declutter (refrigerator, closets, storage area)  Condo buyers are usually downsizing and worried about containing all of their possessions.  You don’t want them to open up your storage area and see things stacked on top of each other.  Nothing says this place is to darn small that a storage unit piled high, ditto for your linen closet. Pack up anything seasonal or that you won’t need right away and store offsite.. Also clean out the cabinets under sinks and in laundry room. Chances are you have many duplicates of cleaning supplies that you don’t use.

I always recommend staging a condo.  I believe sellers usually sell it faster and get top prices when they stage.  I realize not all sellers have the funds to invest in staging up front.  Often, clients ask if they should repaint.  If the colors aren’t hideous, I usually tell them to save the time and money on painting and stage it instead.

Large Double Condo at The Edgecliff in Eden Park

This condo was previously 2 one bedroom condos combined into one stylish 2 bedroom condo with an open floor plan and gorgeous master suite.  It also has a double balcony (44 feet long) that overlooks Eden Park in East Walnut Hills.

This luxury condominium is perfect for entertaining.  It has an open kitchen with an island and a separate bar area. It comes with two garage spaces and a storage unit.  The Edgecliff Private Residences has abundant amenities including a French restaurant by Jean Robert de Cavel, Le Bar a Boeuf. 24 hour concierge, fitness center, guest suite, party room and onsite management.  There is also a hair salon and doctor’s office for the resident’s convenience.

 

School House Lofts #57 in E. Walnut Hills

 

 

School House Lofts is a well kept secret.  High ceilings and large windows define the spaces in this building.  It was the original Walnut Hills High School and was renovated in the early 2000’s into.  Carefree walking to DeSales Corner and Woodburn Ave where one has a choice of many restaurants, shops and cafes as well as a brewery.

This is one of the rare 5th floor penthouse condos in the building.  It’s 2 stories and features a balcony and a garage.  Soaring ceilings and large windows.  It’s 2 full bedrooms plus a study.  Email Maria Walley mwalley@comey.com  for a private showing today.

 

 

 

Gorgeous Renovated East Walnut Hills Condo at the Edgecliff

Don’t miss this one.  It’s 2 one bedroom units combined to make one large 2 bed 2 bath condo with a 44 ft balcony overlooking Eden Park.  Designed for entertaining!

 

River View Condo Renovation Opportunity

 

Rare opportunity to combine two condos with Southeastern exposure (best river view from building) at the Edgecliff Private Residences.  See listing information.

The building is located in Eden Park in Walnut Hills, a desirable neighborhood four minutes from downtown Cincinnati.  It’s a corner unit 2 bedroom and an adjacent studio just waiting for your personal touch.  Buy it in time for Labor Day Fireworks.

Edgecliff Private Residences #1108- 1 Bedroom, River & City Views $170,000

River view condo at the Meridian #701

6 Hidden Factors that Influence Condo Values

Assessment History

The elephant in the room, people are afraid of special assessments.  They have heard horror stories from friends and family and don’t like the unpredictability of assessments.  Limit your exposure to  assessments if you can.  The best way to run a community is to adjust the HOA every year with inflation so that needs can be met without the “A” word.  There is a place for them but a well run community doesn’t have a new assessment every year or two. Ask if the building has had a reserve study.  The best buildings have and have budgeted for future capital improvements.

Condition

It doesn’t matter how fabulous the view is if it has ugly carpet and wall paper and outdated kitchen cabinets and appliances.  Yes, some would like a blank slate so they can renovate to their taste but this is a much smaller market than those who want to buy something that is move in ready. Sellers, consider painting your condo to a neutral grey or beige especially if you have strong colors such as red walls which were so hot in the 90’s. Consider replacing old appliances especially if they are  white and have electric coil burners.  Get rid of heavy drapes that impede the view .  It’s better to have no window treatments than ugly curtains. Parquet floors? Some people love them but a lot buyers will change them.  The easiest thing to get rid of is the dated light fixtures.

 

Demographics

Are most of the people original to the building when it was built 25 or 30 years ago? If so it may feel dated or like a retirement home.  Many people are looking for a vibrant community and like to see people of different ages and backgrounds. Is it all recent college grads that fill the pool with their friends every weekend?  Is it full of pensioners that won’t fund minor improvements like a lobby renovation?

Walkability

People will pay a premium for walkability.  Some condos have great views but are set back so far that they feel like they are not part of the neighborhood.   2770 Observatory is the most expensive condo building in Cincinnati at this time and it’s two blocks off Hyde Park Square.  Cincinnati has great neighborhoods with vibrant business districts.  The condos in Eden Park, Hyde Park, OTR and downtown are more expensive than a condo in Anderson Township or Loveland.  By the way, this applies to single family homes as well.

Hyde Park Square

Outdoor Features

A lack of private outdoor features such as balconies and deck will hold back the value of a building. Yes, size  matters when it comes to balconies.  So does the ability to have a grill on the balcony.  I know one building in town that will not allow grills of any kind.  They have great balconies and great views but the fact that people can’t grill on the balcony is a major drawback.  Think about it.  Most people are coming from large homes with back yards.  They are open to “downsizing” and looking forward to giving up yard maintenance but they don’t want to give up the good old fashioned American BBQ.
View?

Deferred Maintenance 

Some home owner associations  think it’s more important to keep reserves high at the expense of maintenance.  This strategy is wrong.  Like it or not, buyers are judging your condo building by the appearance of your common areas.  They want to see pretty professionally designed lobbies, hallways and yes even the management office should be pretty.  What do the elevators look like? Is the parking lot full of potholes?  Is the landscaping attractive or does it look like it’s been neglected.