Maria Walley, Realtor
Cincinnatti Condo Connection - Part 5

5 Open Houses Weekend of December 2 & 3 2017

Looking for a beautiful condo with a Riverview? Then come check out the Meridian with its stunning 10th floor Riverview and Ingleside with its beautiful first floor walk-out Riverview.

The Meridian 3435 Golden Ave 1002

The Meridian is located on 5 acres of wooded grounds and is convenient to shopping and restaurants in the Mt Lookout/Columbia Tusculum area as well as Downtown Cincinnati. The building is a luxury high rise condominium building located in Mt. Lookout offering spacious two and three bedroom condos with private balconies. The residents enjoy scenic views of the river, city skyline and surrounding hillside. The condo was built in 1991.

Unit 1002 is a spacious 10th floor condo with stunning river and city views. Some features include large living room and master suite, neutral colors, built-ins and only 10 minutes from downtown. Amenities include a pool, fitness center, and 24 hour concierge. From the Meridian you can walk to Mt Lookout Square or downtown Columbia Tusculum.

Come check this beautiful unit out on Sunday 12/3 from 11:00-12:30.

Ingleside 2421 Ingleside Ave 1C

Beautiful and exclusive condo building with only 27 units. Floor to ceiling windows in all units with oversize balconies overlooking the river and city skyline. The building sits at the end of the street on a bluff and is considered by many to be one of the best built luxury condo buildings in the city.

Unit 1C at Ingleside is arguably the best unit is the building with its stunning views of both up and down river as well as the patio and green space included with this beautiful condo. Ingleside is a nice quiet building in the heart of East Walnut Hills. Want more green space and some shopping? Well you can walk to Eden Park and Woodburn Ave from this beautiful condo.

Come see what Ingleside and its gorgeous riverviews have to offer this Sunday 12/3 from 1:00-3:00.

1128 Race St 201D

Settled by Germans in the late nineteenth century, OTR has the largest collection of brick Italianate buildings. Trendy restaurants, bars and boutiques are scattered throughout the neighborhood. Residents can also enjoy the refreshed Washington Park and Ziegler Park and walk to Findlay Market and the Central Business District, with ease. The new streetcar connects the neighborhood to the CBD and the riverfront. Plenty of loft style condos and single-family homes are available. Most residences have been built new or renovated within the last 10 years. Young professionals and empty nesters are drawn to this lively walkable neighborhood in the heart of the city

Want to live in an urban area but still have a home with character? Well come see this beautiful 2 bedroom 1.5 bathroom townhome in OTR. This home offers exposed brick, custom woodworking, hardwood floors and a spacious private deck with city views. Enjoy the security of having gated parking while being just minutes from Washington Park and the new street car.

Come check out this urban townhome on Sunday 12/3 from 1:00-2:00.

3413 Traskwood Cir Unit C

Hyde Park is a tony neighborhood centrally located on the East side of Cincinnati, with easy access to Downtown or to anywhere else in the city. Hyde Park Square is full of restaurants, cafes and upscale boutiques. The square is a lively meeting spot for all and boasts many community events throughout the year, such as the annual Art Show. With its stately homes, luxury condos and apartments, the neighborhood appeals to people of all ages. It’s a paradise for walkers and runners.

Chestnut Station is a charming community built of 1-3 bedroom units as well as town homes. Offering a lovely neighborly feel with homes set back from the curb, beautiful landscaping and a community pool. Conveniently located in East Hyde Park, it’s an easy walk to restaurants and Hyde Park Country Club and easy access to I-71.

Come see this beautifully updated spacious 2nd floor condo in Chestnut Station. Enjoy this bright and open unit with its cozy fireplace, fresh paint, stainless steel appliances, master suite and 1 car garage. The HOA includes the pool, club house and the tennis courts.

Come see what Hyde Park and this beautiful condo have to offer this Sunday 12/3 from 11:00-1:00.

1221 Grays Peak Dr

Northern Kentucky is comprised of many different neighborhoods and cities. Covington, Newport, Bellevue, Dayton and Ludlow border Cincinnati and have many condominium choices. All three are very walkable neighborhoods. Many have amazing views of the Ohio River and Cincinnati skyline. All are experiencing a transformation as people are moving closer in to experience authentic urban living.

Want to have a beautiful city view? Come check out this gorgeous 2 level condo with approximately 3000 SF, 3 bedrooms with a den and 3 full bathrooms. This unit offers high end finishes, an oversized garage and large terrace.

Come see what Northern Kentucky and this beautiful condo have to offer on Sunday 12/3 from 1:00-3:00.

Is it Better to Buy a Condo Pre-construction or as a Resale?

This is often a topic of concern.  I’ve heard many people state that condo values do not go up because condominiums are commodities.  It’s not that simple.  The same rules apply to single family homes.  LOCATION. LOCATION. LOCATION.  Got that?

New Construction

The Value of New and Choice

I’ve found that a lot of people really value the newness of new construction.  They love choosing their finishes and living in a unit that no one else has lived in. You have the opportunity to pick the best view, floor plan and all of your finishes.

The Developer Needs You

Those first few buyers can often negotiate a bit more than later buyers.  The developers typically need to presell a certain percentage of units (70%) to get financing for the project.  While they are not inclined to reduce prices in a good market, they are often happy to give you some upgrades just to book the sales.  They know that the first few are the hardest to sell, once they have sold a good percentage of them other buyers will hop on the train and buy too.

Lock in Pricing

In an upward moving market, you are purchasing tomorrow at the market price today.  I’ll gladly pay you for a condo tomorrow.

Discounted HOA Assesments

If you aren’t there that long, this may be a good thing.  The developer wants to sell unit and is not worried about putting the funds away today for problems that may develop 20 years from now.  HOA payments will increase with time. They always do.  Expect them to increase at the rate of inflation.  It’s just good planning.

Tax Abatements

Many cities including Cincinnati offer generous tax abatements for new construction.  10 to 15 years at reduced prices.  Leed Certified is the best but any tax abatement can save you a lot of money over the years.

Construction Noise & Mess

New construction can go on for years.  Are you ready to live with the noise, dust and construction workers? Think about this if you are retired and home all day or if you work from home.

Who Controls the Building?

New construction is more complexity.  How long will it take and when will the homeowners get control from the developer. The goal is for the homeowners association to run the building, but all new buildings are run by the developer until certain milestones have been met by the developer.

New Construction has More Complexity

How long will it take and when will the homeowners get control from the developer. Will it sell out or will it maintain it’s pricing?  Will the developer have the financial wherewithal to complete the project?  Low inventory today means less to worry about but that wasn’t always the case.

Reasons to Buy a Resale Condo

Location and View

Often the best locations and views are the older buildings.  Most cities were developed a long time ago and people still want to be near downtown or to have views of water and minutes.  River view and ocean view condos were usually built long ago.  Park views are also sought after and the more established a park is the more expensive homes near it. There are always exceptions to this especially in newly revitalized cities.

Discount

Resales may have dated interiors or are being sold under a bit of distress.  People get old and move to assisted living and sometimes their families are left to sell the units and aren’t as emotional as the owner.  If you are willing to renovate, you can often get a very good deal and a good view.

The Community is Already Established

Once the building has been inhabited for a while, the community is established.  They have institutional knowledge, a  board and management with knowledge of the building.  It can take a while to establish boards and processes. In a resale you can tell if the building is a quiet building made up of retirees and professionals or a rowdy building with young professionals and students.  Some buildings are more social than others.  It’s helpful to know which type of community you are seeking.

Size matters

New construction for the most part tend to be smaller units with higher SF costs. The exception is the luxury market.  In Cincinnati, many of the new construction seem to be either 3,000 plus SF and over $1 million dollars or 1,000 SF and $300,000-400,000. Developers need to make money and are making smaller and smaller condos.  Micro condos and one bedroom condos are becoming more prevelant.

Better Quality Building

Older buildings are often built better.  Older condos were often made of better materials by better craftsman.  Some new buildings can be pretty but not so well made.  Take the time to learn about the developer. I’ve known more than one buyer who bought new construction only to find out that they can hear the neighbors walking above them.  Consider a newly developed older building for the best of both worlds.

 

 

 

5 Open Houses Weekend of November 18 & 19, 2017

Madison House2324 Madison Rd 1905

Great 1bd 1ba unit with view from the 19th floor. The unit features new granite counters and tile, along with wood floors. Some of the building features include, fitness area, conference/party room, heated pool and a 24 hour doorman. The ALL utilities included in the HOA; gas, water, electric and the association dues.

Madison House is located on 5 acres of wooded grounds and is convenient to shopping and restaurants in the Hyde Park area as well as Downtown Cincinnati. The building is a luxury high rise condominium building located in Historic Hyde Park offering studio condos and 1-3 bedroom condos with large balconies. The residents enjoy scenic views of the surrounding wooded grounds and the local neighborhood.

Check this stunning view and the condo that comes with it out on Sunday from 12:00-2:00.

The Lofts at 4120, 4120 Allendale Dr Unit 2C

Ever wanted to live on a Golf Course? Well now is your chance. This beautiful 4th floor condo offers stunning views of the Hyde Park Country Club Golf Course! Some of the features include 2 garage spaces, storage, custom blinds, and professional grade stainless appliances with a custom backsplash and a custom closet system for the Master closet.

The Lofts at 4120 are luxury condos overlooking the Hyde Park Country Club. Residents enjoy beautiful finishes in their home. Being on the edge of Oakley, the Lofts enjoy everything that both Hyde Park and Oakley have to offer.

Come see what Hyde Park, Oakley and this gorgeous condo have to offer on Sunday from 12:00-2:00.

The Edgecliff, 2200 Victory Pkwy 1607

Beautiful corner unit on the 16th floor. This 2bd 2ba condo has had a full renovation. Some great features include the High-End Kitchen Cabinets and Appliances, stunning master suite with walk-in closet and gorgeous views.

Prime location at the Edge of Eden Park. This building is full of amenities and has some of the best views in the city. It’s also has a restaurant Le Bar A Boeuf owned by Jean Robert de Cavel, one of Cincinnati’s finest chefs. Walkable to Mt. Adams, Peeble’s Corner, DeSales Corner. 4 minutes to downtown and 12 minutes to the CVG. A luxury condo with unsurpassed amenities.

Come check this beautiful condo out on Sunday from 1:00-3:00.

Settled by Germans in the late nineteenth century, OTR has the largest collection of brick Italianate buildings. Trendy restaurants, bars and boutiques are scattered throughout the neighborhood. Residents can also enjoy the refreshed Washington Park and Ziegler Park and walk to Findlay Market and the Central Business District, with ease. The new streetcar connects the neighborhood to the CBD and the riverfront. Plenty of loft style condos and single-family homes are available. Most residences have been built new or renovated within the last 10 years. Young professionals and empty nesters are drawn to this lively walkable neighborhood in the heart of the city.

Looking for a 2bd 1ba condo in OTR? Check out these two gorgeous units that are in the heart of OTR.

1422 Race St Unit 7

This beautiful 2bd condo has a private outdoor living space and entertaining terrace, as well as being a secure building. Amenities include hardwood floors, custom closets, laundry in the master, 2 large bedrooms and extra storage in the basement. Along with being on the street car line, which will take you to Finley Market, Downtown and the Banks, this condo is only half a block from Washington Park.

Come check this unit out on Sunday from 1:00-2:30.

The Allison, 1509 Race St Unit 305

Want a beautiful brand new construction condo in the heart of OTR? This beautiful 2bd 1ba condo is in the heart of OTR, close to everything that OTR has to offer, shops, restaurants, night life. Being on the Street Car line is great as well, you can take it to Downtown, the Banks or Findley Market. The unit offers covered parking, a high end kitchen, hardwood floors and laundry included.

Newly built condos on the street car lined in the heart of OTR. These condos are on a tree lined street and have garage parking. Walking to restaurants, Washington Park and Findlay Market.

Come see what OTR and this beautiful condo have to offer on Sunday from 12:00-1:00.

2017 Luxury Condo Statistics YTD Nov 11, 2017

Luxury condo sales are picking up in Cincinnati. We define a luxury condo as over $500,000.

Listings: 75

AVG List Price: $891,340

AVG Sale Price: $843,074

AVG Days on Market: 220

AVG SF: 2772

Most Expensive condo sold was $1,759,760 at 2770 Observatory Ave #406 in Hyde Park.

Where were the luxury condos?

Most of the condos were in Hyde Park, followed by downtown.

Mt. Adams: 1

Downtown:23

East End: 7

Oakley: 7

Walnut Hills: 12

5 Open Houses Weekend of November 11 & 12, 2017.

2932 Markbreit Ave Unit 4

Check out this 3bd 4ba New Construction town home with a beautiful rooftop deck, open floor plan, luxurious chef’s kitchen, 2 garage spaces, fireplace, and in a prime location across from Oakley Square.

Oakley is a neighborhood north of Downtown on Cincinnati’s East Side and favored by young professionals and young families, this neighborhood has experienced a resurgence of activity in recent years. Its home to many trendy small businesses, shops, restaurants as well as three grocery stores and big box stores. Convenience to I-71 makes this a popular destination. Single-family homes are mixed with apartments and condos.

Come see what this gorgeous town home and Oakley have to offer this Sunday from 12-2p.

Regency Square 2360 Dana Ave

Want a town home that is move in ready in a prime location in Cincinnati? Check out this 3bd 3ba unit at Regency Square. Some amenities include, fitness area, salon, laundry service, ample parking and much more. A few features are that the home has large rooms, hardwood floors, hug closets, as well as a private master suite with a walk in closet and double vanity. The HOA includes all major mechanics, the windows, roof, pool and basic cable.

Hyde Park is a tony neighborhood centrally located on the East side of Cincinnati, with easy access to Downtown or to anywhere else in the city. Hyde Park Square is full of restaurants, cafes and upscale boutiques. The square is a lively meeting spot for all and boasts many community events throughout the year, such as the annual Art Show. With its stately homes, luxury condos and apartments, the neighborhood appeals to people of all ages. It’s a paradise for walkers and runners.

Come see what Hyde Park and this beautiful move-in ready town home have to offer this Sunday from 12-2p.

One Mercer 1 Mercer St Unit 204

Want to live in one of Cincinnati’s up and coming neighborhoods? Check out this 2bd 2ba corner unit condo at One Mercer. Featuring a gourmet kitchen, wood floors, with loads of natural light and located in the heart of OTR. You can get to the Riverfront, Fountain Square and Findley Market from a short ride on the Streetcar.

Settled by Germans in the late nineteenth century, OTR has the largest collection of brick Italianate buildings. Trendy restaurants, bars and boutiques are scattered throughout the neighborhood. Residents can also enjoy the refreshed Washington Park and Ziegler Park and walk to Findlay Market and the Central Business District, with ease. The new streetcar connects the neighborhood to the CBD and the riverfront. Plenty of loft style condos and single-family homes are available. Most residences have been built new or renovated within the last 10 years. Young professionals and empty nesters are drawn to this lively walkable neighborhood in the heart of the city.

Come see what this beautiful 2bd 2ba condo and OTR have to offer this Saturday from 11:30a-1:00p.

Williamson Lofts 335 W. Fifth St Units 205 & 503

Want to live in Downtown Cincinnati? Check out Williamson Lofts. These 2 units, a 1bd 1ba and 2bd 2ba offer a newly renovated space with quartz counters, SS appliances, beamed ceilings, and beautiful finishes.

Cincinnati’s downtown is on the riverfront. Walk to Red’s and Bengals games, restaurants, museums, stores and many corporate headquarters. Big city amenities in a small friendly easy to navigate area. Many young professionals, corporate executives and empty nesters call Downtown home. Plenty of condos and apartments are available.

Come see what these 2 beautiful units and Downtown have to offer on Sunday from 12-2p.

Schoolhouse Lofts #41

2 Bed, 2 Bath in East Walnut Hills.  Walk to Woodburn Brewery, Cafe DeSales and OPieO.  Priced at $205,000, this one won’t last long.

Open Sunday 1:00-2:30

 

The Ascent 1 Roebling Way Units 706, 801, 1106, 1002, & 2001

Come check out the Ascent in Covington KY. Just a hop skip and a jump away from Cincinnati, Covington offers many great things, such as some mom and pop restaurants and Mainstrausse has shops, restaurants and some night life too! The Ascent has 5 units available, two 2bd 3ba, one 3bd 3ba and two 3bd 4ba units, with different floor plans and building levels, you are sure to find a home that is right for you!

More than just a luxury condominium, the Ascent is an original work of art. This exclusive community lives within an aesthetic statement and a towering architectural achievement.

Northern Kentucky is comprised of many different neighborhoods and cities. Covington, Newport, Bellevue, Dayton and Ludlow border Cincinnati and have many condominium choices. All three are very walkable neighborhoods. Many have amazing views of the Ohio River and Cincinnati skyline. All are experiencing a transformation as people are moving closer in to experience authentic urban living.

Come see what The Ascent and NKY have to offer from 2-4p this Sunday.

 

 

Condo Envy: Ingleside Condos 1C

Virtual tour of condo

BEST VIEW IN THE CITY! It’s up and down the river and not too high that you only see sky when you sit down.  The Ingleside is one of my favorite buildings in the city.  I love it because it’s only 27 units and they all have nice views.  It has full amenities including 24 hour concierge, fitness room and a lovely pool surrounded by a garden.

Virtual tour of condo

   

This is the BEST VIEW IN THE CITY!  Photos don’t do it justice.

 

It has floor to ceiling windows overlooking the river, that span the length of the condo.  It’s large but not too large at 2600 SF.  2 bedrooms and two offices.  2 and a half baths.  The best part of this building is that it is a ground floor condo with lots of grass and greenery.  Walk out on to patio from living room, dining room, or either bedroom.  It’s perfect for dog owners or gardeners.  See more about listing.

A View from both bedrooms.

His and her offices both feature river views.

 

The kitchen is open and spacious.

And the pool!

The condo is offered at $599,000. 2412 Ingleside Ave. 1C located in East Walnut Hills just a couple of blocks from Woodburn Ave and a 13 minute walk to Eden Park.

Nearby walkable businesses are Cafe de Sales, Woodburn Brewery, O Pie O, Suzy Wongs, The Brew House, Just Q’uin BBQ, Video Archive, Parlour Hair Salon, Clear Conscious Yoga,  Parkside Cafe.

Walk to St. Francis de Sales Church, classes at OLLI and New Thought Unity Center

5 Open Houses this weekend Nov. 4 & 5, 2017

Looking for a great condo in Greater Cincinnati? Come see what the following condos have to offer and you might just find your next home!

Park Manor in Blue Ash

 

New construction in luxury midrise 12 unit  building located in community of town homes, carriage houses and condos. This is a spacious 2200 SF condo featuring top of the line amenities such as a great room, outdoor space, hardwood floors, granite counters, crown molding and high ceilings.  Only 7 condos left. Condos in the new building at Park Manor are priced starting at $750,000 and are tax abated.

It’s open 12-4 on Sunday. 9506 Park Manor

Madison House Unit 1905 in Hyde Park

This 1bd 1ba condo has gorgeous views from the 19th floor, new granite counter tops, and hardwood flooring. The HOA dues includes heat, water and air, as well as the association fees. Some amenities the building offers are a heated pool, exercise area, conference/party room, valet parking and a 24hr doorman

The condo is the Madison house which is located in Hyde Park, and is close to all of the wonderful restaurants and shops that Hyde Park and Downtown Cincinnati have to offer.

Come check it out on Saturday 11/4 from 12-2pm. 2324 Madison Rd.

 

Want to find a condo in Downtown Cincinnati, while still having outdoor space? Check out these open houses this Sunday afternoon.

School House Lofts #41 in East Walnut Hills

Urban living at it’s best.  This old school house has been converted to lofts and has 13 foot ceilings and Gothic windows.  Secure building.  Walk to fabulous Woodburn Avenue cafes, brewery and restaurants.

 

#41 open Sunday 3:00 to 4:30.  Hurry it won’t last long!

1422 Race St Unit 7 in OTR

This 2bd 1ba condo is close to Washington Park and is on the street car line. So you can visit the park at your leisure and take a ride to Downtown and the Banks. The unit offers custom closets, hardwood floors, outdoor terrace and modern amenities with 2 large bedrooms and laundry in the master. Extra storage in the basement.

Come see this beautiful condo on Sunday from 12-2pm.

         

1213 Vine St Unit C in OTR

This 1bd 1ba condo is an urban loft featuring exposed brick, historic decorative fireplace, modern finishes and tons of natural light. The unit has 1 parking spot in a gated lot directly behind the building. It also just happens to be within blocks of Washington Park and the Street car, offering you so many options in Downtown Cincinnati.

Check out this unit on Sunday from 12-1pm.

The McAlpin Unit 508 Downtown Cincinnati

This 2010 SF condo is a beautiful contemporary penthouse at the McAlpin. Located Downtown just blocks away from Fountain Square, the Banks, the Sports Stadiums and the Riverfront Park. Some Features include high ceilings, bamboo floors, gourmet kitchen with high end appliances, and spa like master bath, with tons of natural light as well as plenty of storage. The unit also comes with 2 garage spaces.

Come see this condo on Sunday from 12-1:30pm. 15 W 4th St. Unit 508

5 Condo Open Houses to see this weekend!

Looking for an urban condo in Cincinnati? Check out these 5 buildings and all they have to offer this weekend!

The Edgecliff

The Edgecliff Private Residences is a great place to have a condo. Being in the heart of Walnut Hills means that you are close to Mt. Adams, Hyde Park, Oakley, Downtown and more. Being near all of those areas means that you can enjoy all that they have to offer, including restaurants and shop, parks, as well as the sports stadiums in Downtown.

Come see the two 2bd 2ba units available and all that they have to offer on Sunday from 1:00-2:30.  2200 Victory Parkway

See units 1607  and 2104

The Dominion

Want to live in a beautiful urban condo? Well check out The Dominion. Just blocks away from OTR, within walking distance to all the best things Cincinnati has to offer including sports stadiums, fountain square, restaurants, shopping and more! Residents will enjoy high end luxury living in these beautiful urban condos.

There are open houses this weekend for 3 different units. They offer exposed brick, quartz counter tops, stainless steel appliances, hardwood floors, concrete floors, an open living area, a private patio and more!

Come see these gorgeous condos on Sunday from 12:00-1:00.

The Regency

The Regency is a stately Condominium building located just 7-10 minutes from Downtown Cincinnati on 14 acres. Residents can enjoy convenient shopping and restaurants being close to Downtown and Hyde Park. The Regency offers a private park like setting while being within the city. It’s walk-able to Hyde Park Square and close to I-71. Many units are quite large and have beautiful views of the golf course at Cincinnati Country Club and surrounding Hyde Park area. Some even have city skyline views.

Come see what The Regency has to offer on Sunday from 3:00-5:00!

Unit 609 will be open. 2444 Madison Rd.

One Mercer

Located in the Over The Rhine Historic district, One Mercer is in an up and coming neighborhood featuring a rich heritage and diverse population. One Mercer is in the heart of OTR and close to everything that Cincinnati has to offer. Get to Findley Market and the Riverfront via the street car, or just enjoy life from your beautiful corner balcony!

Come see #204 condo Saturday from 11:30-1:00!

Trinity Flats

Trinity Flats are condos located in the Gateway Quarter. They are within walking distance to everything in Downtown Cincinnati including the restaurants and bars in OTR as well as Findley Market. The condos include hardwood floors, stainless appliances, and a great location!

Come check out this 2 bedroom 2 bathroom unit on Saturday from 2:30-3:30!

Schoolhouse Lofts in East Walnut Hills

Come see this 1525 SF one bedroom condo two blocks from DeSales Corner.  It’s in a renovated schoolhouse and boasts two turets and 12 foot ceilings.  This condo has low HOA $290 and comes with a garage.  The building has an elevator.   Unit 42 which is being offered at $225,000 will be open Sunday from 11:00-12:30.

Buying a Condo? Get the Facts

 

Buying a condo is a little different from buying a house.  You are buying into a community and delegating management and maintenance to others (the board and the manager).  I often think that you are becoming business partners with your neighbors.  I consider this a good thing.  There are more resources to draw from and you can keep things together even when you have big life changes that may take you way from day to day maintenance and management of your property, however; you want to make sure that the other homeowners have similar values to yours.  If it’s a luxury building, most of the owners will want things to be in top top shape and you will pay to keep it that way or you may be in a building with mainly first time home buyers or retirees living on very small budgets who may be more interested in doing the bare minimum and deferred maintenance could be an issue.

Get the Documents

Declaration, By-laws and Rules and Regulations: It is your responsibility to get these.  If you are working with a real estate agent they will likely request these as part of the purchase contract (offer), however; there is no reason that you can’t review these before placing an offer.  These are legal documents that describe the property and how it will be run.  You and your real estate agent should be able to read understand them but don’t hesitate to have an attorney look at them if you are not comfortable with them.

 

Financial Statements:  You’ll want to review the annual budget so you can see where the money goes and understand the financial priorities of the community.  You will also want to see the income statement for year to date or previous year.  This is sometimes called a profit and loss statement.  This will help determine how good they are at sticking to the budget.  The balance sheet will give you a picture of the assets and liabilities of the HOA.  How much cash reserves are in place for large capital improvements or maintenance issues that my come up.

Meeting Minutes:  Whether the HOA board meets monthly, quarterly or annually, you will want to see what the topics of concern are for them.  Generally the larger the community the more often they meet.  Request minutes for the last year.  Your real estate agent or the management of the community should be able to get these for you.  The community is required to keep minutes of their meetings.

Talk to the Stakeholders and Professionals

 Residents:  Find out if you already know someone that lives there or a friend of a friend.  They will be able to tell you what the culture of the building is like and if they like living there.  If you don’t know anyone, ask your realtor to help you find someone.  Every community has their doers, complainers and regular people who just enjoy living in the space.  Make sure you know which type of person you are speaking with.  In other words a complainer might be a good resource to help you understand where potential problems may be but they may also be someone who always finds faults with the community,  The doers are a good resource who may be a bit more positive and have better facts.

Management: The manager may be onsite or offsite.  The manager may also be another resident or a professional property manager.  They will often give you good insight into how the building is run and the culture of the building. They can provide you with more in depth information. Ask them if they’ve done a condo reserve study to determine what will need to be repaired or replaced and when.

Board members: They will be the most knowledgable resource about the issues.  If you have concerns about anything that you found in the financial statements, meeting minutes or conversations with residents.

Lenders:  Financing a condo with a mortgage is different than a regular house.  Your lender will consider your ability to pay the HOA payments in addition to your principal, interest and taxes. Also not all condos are eligible for FHA financing.  It’s best to find a local lender that understands condos.  Your realtor should be able to help you with this.

 Insurance Company: Condos are usually much less expensive to insure than a home since you are usually just financing the interior of your condo.

Home Inspector:  Get a professional home inspector to conduct a full inspection of the condominium.  You will want to learn the condition of the appliances, electric, plumbing, HVAC and more. Even if you don’t plan on asking for anything from the seller, it’s a good idea to get an inspection so you have a n understanding of how things work and what might need to be done to make your home functional for the future.

Maria Walley

 

Condo Envy: Park Place at Lytle Park #701

 

Entrance

This is my current favorite condo on the market in Cincinnati right now!   This must be seen in person as the photos really don’t capture the feel of this spacious loft.  #701 is a  corner unit on the 7th floor. It’s not so high that you see  the roofs and mechanicals of neighboring buildings but high enough to get the light and the views.  You can see Mt. Adams, the Stadium, Lytle Park and the tiara of the Great American Building.

View from Living Room

It’s a designed  in a contemporary loft style but still very inviting.  It’s a very large 3,100 SF condo with an open floor plan but there are still enough rooms to have privacy.  This was originally two units.  The current owner was the listing agent that was working with the developer to sell the condos and chose these two units to be her home and is now selling it after 12 years of enjoying the space.

Park Place at Lytle

 

I love that there is a nice office that is tucked out of the way and a nice master suite. It features his and hers bathrooms and walk in closets.  It also has a man cave outside of the unit and two storage spaces. The man cave could be a workshop, art studio, large wine cellar, craft room or whatever you want it to be.

Park Place at Lytle is one of my favorite condo buildings in downtown Cincinnati. I think people overlook this building and that is a shame.  I like that it’s in a quiet part of downtown that feels residential.  You can easily walk to the riverfront or the central business district as well as OTR.  It’s close to entrance to Columbia Parkway and I-71 so it’s very easy to get where you need to go.  And your local pub is The Top of the Park at the Phelps/Residence Inn.  It gets better, if your local is too crowded, Park Place has it’s own rooftop garden, a great place to socialize with your friends or neighbors.  The Polk Room is a nice place to host a party, although with this condo, I don’t know why someone wouldn’t host an event in the spacious condo itself.

Roof top of Park Place

The building has plenty of amenities.  It features two guest suites, a nice gym, garage parking, 24 hour concierge and onsite management.  With 126 units it’s large enough to support all of these amenities but not so large that it feels like a hotel. One of the other benefits is that there are plenty of households to cover the maintenance of the building so the HOA is quite reasonable for a 3,100 SF condo. It’s $1,190 per month.  It’s one block from the University Club and Queen City Club and next door to the Taft Museum.  Lytle Park is across the street for those who have dogs to walk.

Lytle Park

This unit was designed by Maris Bernard and features beautiful cherry floors, neutral walls and lots of granite.  3 fireplaces, one in the bedroom, living room and the sitting room.

It comes with three garage spaces and is currently listed at $995,000.    See the listing detail for more information and hurry up and book a showing with me before this wonderful condo is snapped up. 513-235-3996

Maria Walley