Some residents of Ohio can either walk away from their homes they’ve considered abandoning because the value is much less than the amount owed. Others can walk into new homes through the Welcome Home Funds program.
That Ohio has bragging rights in being home to the theme park with the most roller-coasters in the world is appropriate. One roller coaster specifically is almost the exact opposite by its enormous success as a small community in southern Ohio is in its gradual demise.
On the flip side, people considering home ownership may be eligible for up to $5,000 in funding if they meet income and other eligibility requirements. The Welcome Home Funds can be combined with federal tax incentive money for a combined amount of up to $13,000 to buy.
While Ohio is one of the states hard hit by the slumped over whimpering real estate market, there are signs of recovery. For example, one housing predictor showed that Ohio cities claimed the four of the top give spots in real estate growth for 2010, including Cleveland, Columbus, Cincinnati, and Toledo. Not surprisingly, each of these cities has wonderful perks for residents and visitors alike: the Rock and Roll Hall of Fame in Cleveland, Schmidt’s Sausage Haus und Restaurant in the heart of German Village in Columbus, the gorgeous park on the Ohio Riverfront in Cincinnati, and bragging rights as hometown of the actor who played Corporal Klinger in M*A*S*H*, Jamie Farr, in Toledo.
Searching for real estate listings, there were no houses for sale in Shawnee, neither by owner or listed by real estate agents. However, one house was listed as being in foreclosure thereby making the foreclosure rate 100 percent.
Back to the north in Sandusky, the roller coasters are enjoying better success than home sales. Fifty-seven homes are listed for sale in the town that used to be a safe haven for the Underground Railroad. However the foreclosure rate is severe as one in every 615 homes received a foreclosure filing in early 2010.
Residents should not lose heart because now that the bottom of the real estate roller coaster has been reached, the outlook is good for 2010. When there is only one way to go – UP – attractions like Cedar Point Amusement Park will possibly help rebuild so the economy is once again vital and thriving.