Increased demand for housing starting March 19th
Next week is when medical professionals across the country will learn where they will spend the next few years for their residency. This time of year we, as Realtors, have an influx of Buyers and renters contacting us that will be in a program at one of the many local hospitals in Greater Cincinnati. Their start date is usually June, and they will soon be online searching for a place to live amidst this housing shortage we have right now in the Cincinnati area.
Proximity to work is key when searching for housing, as well as simplicity of the loan process. There are doctor loan programs that residents, fellows, or doctors can qualify for that enable them to do a zero down option and avoid Private Mortgage Insurance (PMI).
ADVANTAGES FOR DOCTORS
- No PMI despite a down payment of only 0-10%.
- Special treatment for the student loans.
- Will close before you actually start working.
If you know anyone relocating to Cincinnati, please have them contact the Finn Team, Coldwell Banker Realty. We have a few homes coming on the market over the next month that would be near the city and under $300,000.
OPPORTUNITIES FOR ANYONE SELLING
Another area of opportunity is for homeowners that have a house that may appeal to one of these doctors being relocated to the area. They typically come to Cincinnati briefly and have a short window of time that they need to find housing. This can be an excellent time to sell your home for a great price to a very qualified Buyer. If you are thinking of selling or know anyone, reach out to the Finn Team to learn more.
- Home to sell in the price range of $200,000-$400,000.
- Home that will be available for rent in the range of $1,500-$3,000/month.
- Located with a commute time around 15 minutes from Clifton or other hospitals.