Fort Thomas and Covington Today VS The Market in 2006

Somewhere in 2006 it is widely accepted the real estate market hit its peak. The peak and crash vary from neighborhood to neighborhood, but everyone has felt the affect. Financing was readily available to it seems everyone. Good times, good times until.....Think of a bug flying along as happy as can be, then splat! The windshield of a car going 70 MPH comes along. I have some clients with interest specifically in Fort Thomas and Covington markets.

I took sale numbers for single family residential homes from January 1, 2006 through May 15, 2006, then the same for this year, January 1, 2011 through May 15, 2011.

Fort Thomas had 72 sales and a median sale price of $162,000 in 2006 vs 40 sales and a median sale price of $150,000 in 2011. That is a 44% drop in sales and a 7.5% drop in median sale price.

Covington had 123 sales and a median sale price of $53,000 in 2006 vs 67 sales and a median sale price of $21,000 in 2011. That is a 46% drop in sales and a 60.4% drop in median sale price.

Reasons for the housing crash: The Federal Reserve Interest Rate Manipulation, Home Flippers and Real Estate Speculators, Panic Buying, Sub-prime mortgages, Exotic loans and Loose Lending, Media Propaganda, Mortgage and Appraisal Fraud, High home Prices = Bad Investment, Foreclosures and The Economy Overall Stinks


Eric J. Barth 859-912-2104

Eric J. Barth's Website