Robin Sibcy Sheakley is Named Chairman of the Board of The Realty Alliance

Robin_Movie_CroppedRobin Sibcy Sheakley, Vice President of Sibcy Cline Realtors, has been named Chairman of the Board for The Realty Alliance. She will serve a two-year term that ends in October 2019. Robin has previously served as a board member of this organization.

Says, Rob and Pam Sibcy (Sibcy Cline’s President and Vice President of Marketing as well as parents to Robin), “We are very proud of Robin’s success and her leadership skills. We think it is wonderful she is continuing the real estate tradition within our family and are sure she will do a great job with The Realty Alliance.”

A licensed real estate professional since 1994 (and a fourth-generation Sibcy in the business), Robin wears many hats at Sibcy Cline Realtors. As Vice President, she oversees Relocation, Mortgage, Title, Insurance, Recruiting and Professional Development. She is also a member of the Sibcy Cline Executive team.

Locally, she currently serves as a board member for The Children’s Theatre of Cincinnati; Ursuline Mother’s Club; Cincinnati Regional Business Committee; and as an advisory member of The Fifth Third Bank.

About The Realty Alliance
The Realty Alliance is a network of the largest, most-successful full-service real estate companies in North America, comprising more than 117,000 sales people and thousands of employees in its real estate firms and affiliated businesses such as mortgage, title and insurance. The Realty Alliance leads the real estate industry in innovative practices and in the setting of policy for real estate.

Local Home Sales Report for October 2017

HomeSales_Oct2017.jpgMany homes are still selling quickly due to low inventories of homes for sale. Mortgage interest rates remain low. Here are the sales statistics for October 2017 for Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana:

Cincinnati

October 2017 vs October 2016

  • -6.73% Decrease in homes sold (2,052 homes vs 2,200)
  • 2.85% Increase in average sale price ($199,616 vs $194,086)
  • 1.29% Increase in median sale price ($157,000 vs $155,000)
  • -4.07% Decrease in gross sales volume ($409,612,540 vs $426,990,135)

January – October 2017 vs January – October 2016

  • -.92 % Decrease in homes sold (22,116 homes vs 20,321)
  • 5.93% Increase in average sale price ($202,211 vs $190,895)
  • 6.58% Increase in median sale price ($162,000 vs $152,000)
  • 4.95% Increase in sales volume ($4,472,799 vs $4,260,972,216)

Statistics courtesy of Cincinnati Area Board of Realtors October 2017 Home Sales Report

Dayton

October 2017 vs October 2016

  • 3.17% Increase in homes sold (1,367 homes vs 1,325)
  • 3.12% Increase in average sale price ($154,695 vs $150,013)
  • 4.08% Increase in median sale price ($130,000 vs $124,900)
  • 6.39% Increase in sales volume ($211,468,609 vs $198,767,519)

January – October 2017 vs January – October 2016

  • 1.14% Increase in homes sold (13,775 homes vs 13,620)
  • 6.05% Increase in average sale price ($156,088 vs $147,190)
  • 6.35% Increase in median sale price ($134,000 vs $126,000)
  • 7.25% Increase in sales volume ($2,150,112,912 vs $2,004,733,228)

Statistics courtesy of Dayton Area Board of Realtors October 2017 Home Sales Report

Northern Kentucky

October 2017 vs October 2016

  • -7.68% Decrease in homes sold (589 homes vs 638)
  • 6.23% Increase in average sale price ($180,727 vs $170,126)
  • 3.33% Increase in median sale price ($155,000 vs $150,000)
  • -1.93% Decrease in sales volume ($106,448,636 vs $108,540,622)

January – October 2017 vs January –October 2016

  • 1.93% Increase in homes sold (6,085 homes vs  5,970)
  • 2.77% Increase in average sale price ($179,995 vs $175,151)
  • 3.97% Increase in median sale price ($157,000 vs $151,000)
  • 4.75% Increase in sales volume ($1,095,271,303 vs $1,045,652,419)

Statistics courtesy of Northern Kentucky Association of Realtors October 2017 Home Sales Report

Southeastern Indiana

October 2017 vs October 2016

  • 20% Increase in homes sold (114 homes vs 95 homes)
  • -7.2% Decrease in average sale price ($160,578 vs $173,002)
  • 7.1% Increase in median sale price ($152,500 vs $142,400)
  • 11.4% Increase in sales volume ($18,305,870 vs $16,435,177)

January – October 2017 vs January – October 2016

  • 6.3% Increase in homes sold (1,039 homes vs 977 home)
  • 7.9% Increase in average sale price ($164,683 vs $152,495)
  • 3.6% Increase in median sale price ($144,000 vs $139,000)
  • 10.5% Increase in sales volume ($164,583,438 vs $148,987,900)

Statistics courtesy of Rick McMillin – Southeast Indiana Association of Realtors Home Sales Report, October, 2017

Look at homes for sale.

Real Estate Forecast for 2018

crystal ballWhat’s in store for real estate in 2018? Here are some predictions for the market:

Home Sales Increasing
Total U.S. home sales are expected to increase by 2% for 2018.

Economists are also predicting 1.33 million new housing starts in 2018 – up from 1.22 million in 2017. Low inventory has been a frustrating part of the home-buying process and new home construction will help to relieve some of those inventory issues.

Mortgage Rates and Home Prices To Rise
U.S. economic growth is positive with the stock market going strong with a rise of 10% in 2017. Mortgage rates are expected to increase moderately and home prices are expected to increase by 4.9%. Homeowners will continue to build equity in their current homes. These are all good signs of a healthy economy.

Rising home prices and rents will outpace increases in income in 2018. The rental market is expected to have low vacancies and thus a rise in rates of 3-6%. The inventory of single-family homes will continue to be tight and result in higher prices for home purchases as well. Newly constructed homes will be generally be more expensive due to higher material costs and wages. Much of this is due to 2017 natural disasters (including multiple hurricanes).

Baby Boomers and Millennials
Baby Boomers are slowing down with home purchases (due to their age) and Millennials are in line as the largest home-buying sector. The great recession and tremendous college debt have affected Millennials, putting them behind a few years in making a home purchase. These former renters are now getting into position to blossom into homeowners. Looser mortgage restrictions will play a large role in helping them succeed with the American Dream.

Boomerang Home Buyers Are Back
Home buyers who lost homes during the recession will be rebounding back. (The normal foreclosure waiting period is seven years.) The average age of a homeowner who lost a home to foreclosure during the recession was 45 – as a boomerang buyer they will now be in the their early 50s.

Lending Guidelines to Lessen
There is an expectation that lending guidelines will be rolled back therefore allowing potential home buyers easier access to mortgages.

No Housing Bubble
Economists are not foreseeing a housing bubble and state there is little risk for home-price declines. This is great news for those planning on buying a home in 2018!

Our Local Market
The local economy has been strong and Cincinnati is now the largest in Ohio at $132 billion as well as the fast-growing city in the Midwest. Read more here.

Look at homes for sale.

Read more predictions here.
Sources: Realtor.Org,  FreddieMac and Market Leader.

$85,353 Donated to United Way by Sibcy Cline’s Agents and Employees for 2017

UnitedWay_2017B.jpgSibcy Cline’s agents and employees pulled out their wallets and very generously donated $85,353 to United Way 2017 campaigns in greater Cincinnati and Dayton, Ohio! In the past five years, $424,600 has been raised for United Way.

Many Sibcy Cline offices held raffles, lunches, breakfasts and other fun events to raise money in addition to personal donations.

JudyVickie_UWpeople2.jpgThe company’s campaign was lead by Judy Koehne and Vickie Capurro of the corporate office. Well done, Judy and Vickie!

Photo: Two United Way employees along with Judy Koehne and Vickie Capurro

Update on the Cincinnati Region’s Economic Development – a Sibcy Cline Hosted CE Class

GreaterCincinnatiRegion.jpgOne hundred Sibcy Cline agents attended a special continuing education class on November 10, 2017 – Economic Development and Why It Matters. Sibcy Cline’s Professional Development Center organized speakers from REDI, Cincinnati USA Regional Chamber of Commerce and the Greater Cincinnati Redevelopment Authority to share initiatives happening now throughout the region and how they are impacting the real estate market. The class was held at the Cincinnati Children’s Theatre in Madisonville.

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Three hours (and ten minutes) sped by quickly with a line up top-notch professionals who shared their passion for making the Cincinnati region the best place to live and work.

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REDI (Regional Economic Development Initiative)

Tammy Riddle is one of 19 employees at REDI and holds the position of Director of Investor Relations. She shared how this organization is quite diligent in attracting businesses to invest in one of the 15 counties in the greater Cincinnati region (throughout Ohio, Northern Kentucky and Southeastern Indiana.) Newly created in 2014, REDI helps businesses navigate a move to our area, targeting businesses that offer employees high-paying jobs including advanced manufacturing, bio health, food and flavoring, info tech as well as shared service positions (marketing, finance and legal).

Redi_JobsOhioNetwork.jpgREDI works closely with the JobsOhio Network as a partner. JobsOhio presents incentives to draw businesses into the state. REDI has had the most success of any partner with JobsOhio in job creation (even though geographically is the smallest region in Ohio.)

REDI also handles research and data collection to help businesses make their relocation decisions. The organization seeks out businesses throughout the U.S. and worldwide. There are currently 450 foreign-owner companies in greater Cincinnati with most from Japan and Germany. REDI is currently looking to bring in foreign technology businesses from Israel and India, and is assisting 20 Brazilian companies with their move to the Cincinnati region.

The results for REDI? Since 2014…

  • 17,000 new jobs have been created
  • $1.89 billion in capital investments
  • $947.52 million in new payroll

Why Businesses Move to New City? Site and Acreage is Important
Site location is top on the list of businesses looking to move. REDI is focused on having 20-30 acre development sites that are “dig” ready with utilities and other infrastructure in place.

Why Businesses Move to New City? S Resources, Clients and Labor Talent
Another factor is making a decision to move to a city is the ease of the supply chain to needed resources and clients. Businesses also take into account the availability of talent labor and labor costs.

How does REDI figure into real estate?
New companies coming to our region means new people coming to the area who will need places to live! These people contribute with taxes and spending their money locally, resulting in a strong local economy.

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Greater Cincinnati Development Authority (Formerly the Port Authority)

Darin Hall, Executive Vice President, over sees all of the real estate development and neighborhood revitalization for the Greater Cincinnati Redevelopment Authority. This organization to charged to provide financing for redevelopment projects for neighborhoods and businesses:

  • Re-establish housing opportunities
  • Provided public finance and development finance for infrastructure

Since 2012, the Greater Cincinnati Development Authority has issued $700 million in bonds and $1.2 billion in capital investment.  The organization has some high goals to reach by 2022:

  • 8,000 new jobs
  • $580 million business payroll
  • $14 million in real estate taxes

To date, 90 acres of land development has been in the works with $10.8 million in capital investment raised.

Former Gibson Greeting Card Plant  – Amberley Village
This 60-acre site was purchased by the Greater Cincinnati Development Authority and has been remediated for a to-be-determined advanced manufacturing business.

Neighborhood Revitalization
The organization is involved is several Cincinnati area neighborhoods and is looking to helping those neighborhoods that are actively seeking assistance in making positive changes with housing and business districts. There is a goal to be involved in 10 Cincinnati neighborhoods by 2022.

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REACH Home Rehab
REACH (Rehab Across Cincinnati and Hamilton County) is a partnership between the Redevelopment Authority and the Hamilton County Landbank. Their focus is on rehabilitating homes in targeted areas. Their projects have positively affected housing in Evanston, Walnut Hills and the business districts of Bond Hill and Roselawn.

LandBank

Hamilton County Land Reutilization Corporation (Landbank)

Jessica Powell of the Redevelopment Authority focuses on “Landbank” work to acquire blighted, unsellable properties and either have them rehabbed or torn down. The organization is tasked to remove property tax liens and expedite foreclosures. This intervention makes surrounding properties of higher value and bringing a quality of life back to older neighborhoods.

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Communities First Grant Program
Rick Hudson, Director of Accounting and Financial Management for the Greater Cincinnati Development Authority, presented the Communities First Ohio Grant Program to Sibcy Cline agents.

Grants are bestowed upon Ohio home buyers with no repayment, no second mortgage and no restrictions on re-selling the home. The program creates instant home equity for the home buyer. The grants are offered up to 5% for those with at least a 641 FICO score and a limit on personal income. The grant can be used for refinancing purposes.

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Cincinnati USA Region Chamber of Commerce

Jordan Vogel, Vice President of Talent Initiatives,  presented what the chamber is doing to make ensure the job talent market is attracted to the Cincinnati region. He mentioned the chamber partnering with several organizations including Source Cincinnati to spread the word about Cincinnati and was also a major sponsor of Blink (which brought in national attention) as well as a million people into downtown Cincinnati.

To attract (and keep young professional talent), the chamber is active with Start Up Cincinnati – which appeals to those who are entrepreneurial; Cincy Code It (a bootcamp for techies); Cincinnati Tour Ambassadors and other young professional groups. There are four summer events for the Cincinnati Intern Network Connection and a new Cincy Fair  was held in October 2017 that targeted first- and second-year college students. The goal was to “wow” those students with all that Cincinnati has to offer. (Sibcy Cline had a booth at this event!)

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About the Children’s Theatre of Cincinnati
The Children’s Theatre of Cincinnati is the oldest of its kind in the U.S. Four major productions are viewed live on stage in downtown Cincinnati at the Taft Theatre. The Madisonville site houses a 152-seat theater, studios and costume shop. Children can enjoy classes there as well as enjoy smaller productions.

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Sibcy Cline Realtors is Honored as a 2017 Deloitte Cincinnati USA 100 Recipient

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Sibcy Cline Realtors has been ranked on the Deloitte Cincinnati USA 100  list among the largest privately owned companies in the Cincinnati area. This is the 21st time Sibcy Cline has made the list and was the only local real estate broker among the top 100 for this year.

Says Frank Leggio, Partner and leader of Cincinnati’s Growth Enterprise Services practice, Deloitte & Touche LLP, “The companies ranked on the 2017 Deloitte Cincinnati USA 100 continue to serve as a strong foundation for our local economy. Thanks to their strong business practices and ability to drive and sustain performance, these innovative, entrepreneurial businesses continue to grow, strengthening an already thriving local business climate.”

Overall, 2017 Deloitte Cincinnati USA 100 companies generate more than $36 billion in sales and employ nearly 107,000 people.

About 2017 Deloitte Cincinnati USA 100
The Deloitte Cincinnati USA is an annual ranking and recognition of the largest, privately held companies in the greater Cincinnati area. The list rank the top 100 companies by sales, as determined by  voluntarily submitted questionnaire form. In order to be eligible for the Deloitte Cincinnati USA 100, companies must be privately held and headquartered in the 18-county tristate area.

Two Sibcy Cline Agents are Top Sales Agents in Ohio – Julie Back is ranked Number One and Sue Lewis is ranked Number Three!

Julie_Sue_SibcysRobin5_CroppedBest.jpgSibcy Cline Realtors now has two top-selling sales agents for the state of Ohio! Julie K. Back was ranked number one and Sue Lewis was ranked number three. The Ohio Association of Realtors honored both of these agents during their state convention held in Cincinnati, Ohio.

To be at the top in Ohio is no easy task – the Ohio Association of Realtors boasts over 27,000 members. But Julie and Sue are truly amazing at real estate sales and both of them have been at the top in sales for Ohio in previous years:

Julie – #1 agent in 2017; #2 agent in 2015 and 2016; #3 agent in 2013 and 2014; #4 agent in 2012; #5 agent in 2011
Sue – #3 in 2017; #5 agent in 2011; and among the top 10 agents in 2010 and 2012-2016

Everyone at Sibcy Cline is very proud of Julie and Sue. Applause! Applause!

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