Warren County Ohio Real Estate News and Observations

Why Don't They Build Affordable Housing In Mason Ohio?

"Why don't they build affordable housing in Mason Ohio?"

That's a question we see often, particularly after a developer has announced a new development of any type.

If it's news about apartments there tends to be following backlash:

"We don't need the extra traffic!".

"Too many people being added to our schools!".

"Why do we need apartments anyway?  Those people could own something instead!!".

My perception? There's a bit of "got mine, don't want anyone else changing my status quo" in those complaints.

Frankly, we're a bit spoiled because we've got it so good.  Mason Ohio has reliably made "Best of" lists for places to live.  Highly regarded public schools anchor the community.  Lots of entertainment, dining, parks and shopping nearby.  Well paying jobs?  Plenty of those thanks to being smack in the center of the Cincinnati-Dayton corridor. 

The net result of that is the community becomes high demand as a place to live.

And you can bet the developers are well aware of that demand.  Watch the history of the building in Mason and you've seen the trend.  Homes 20 years ago were being sold in the $200,000's.  Then prices edged up as homes tended to be a bit bigger.  More $300,000's and some into the $400,000's.

Now?  In 2017 per Cincinnati MLS 40 new construction homes have been completed and the AVERAGE price was $534,627.  The absolute cheapest?  $377,151 for a small ranch home.  And of course that 40 homes isn't all that sold since many new construction homes are built to order and never appear in Cincinnati MLS.  But if you're in Mason schools, Ambleside Meadows and a small section of Roberts Park are about the only place you expect to build new and have the price start with a 3 or a 4.  For the most part, Carmelle, Crooked Tree, Roberts Park, Hudson Hills, Long Cove, Vantage Oaks and other Mason communities offering new construction are going to ring the cash register in excess of $500,000, and sometimes WELL in excess of $500,000.

So back to why don't the builders build "affordable" housing?

And by "affordable" we're going to assume people mean homes priced in the $200,000's and $300,000's.  Well they are, just NOT in Mason.

It's like going to a concert.  You can pay some major bucks and sit close to the stage (Mason), or you can sit further away and pay less (Lebanon, Maineville, Morrow, etc.).  Both tickets will get you into the concert, but they come with a different set of expectations.

So the builders know they've got a center stage area in Mason.  Land costs are at a premium, so the baseline cost is higher.  Then it's just a straight business proposition.  If I can build and sell a $500,000 home in the same amount of time it takes me to sell a $250,000 home, and I KNOW I can sell that $500,000 home, why would I as a builder pass up that larger profit?

And obviously, they CAN sell those $500,000 homes without much difficulty.  Alverta filled quickly.  Roberts Park is going fast (thus the addition of Hudson Hills).  Take a drive by Ambleside Meadows and the houses are going up quickly. 

Bottom line, "affordable" housing exists in Mason, if your definition of "affordable" matches that of the builders.  Otherwise, affordable is limited to resale homes and not new homes.

Need help buying or selling a home in Mason?  That's what we're here to do.  We regularly work with people on both new construction and resale homes, so just give us a call at 513-520-5305 or email Liz@LizSpear.com

Serving Mason area home buyers and sellers,

Liz and Bill aka BLiz


Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest








View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

Comment balloon 2 commentsLiz and Bill Spear • October 28 2017 03:42PM
Why Don't They Build Affordable Housing In Mason Ohio?
"Why don't they build affordable housing in Mason Ohio? " That's a question we see often, particularly after a developer has announced a new development of any type. If it's news about apartments there tends to be following backlash: "… more
Faking It In Real Estate Isn't Always A Bad Thing
Years ago it was obvious what you were looking at in a home. Vinyl flooring looked like vinyl flooring. Tile Formica counters looked like Formica. Hardwood floors were hardwood floors. Siding was made out of wood or vinyl or aluminum and you didn… more
Pros & Cons Of Homes With Trees
If you're searching Cincinnati area homes for sale, one of your key criteria might be finding a home in the woods, or at least having a lot of trees on the property. If that's your desire, most often you're going to have to scratch MOST newer… more
Million Dollar Homes For Sale In Warren County Ohio
Million dollar homes for sale in Warren County Ohio are rare. As of this evening there are 30 homes in Warren County listed in Cincinnati MLS for sale for $1, 000, 000 or more, with the max at just under $2. 5 million. Even rarer? Million dollar… more
Price Per Square Foot Isn't All There Is To Home Pricing
It's not uncommon for home buyers to focus on price per square foot when home shopping. It's an easy thing to figure out. Seller wants X dollars, home has Y square feet of living space… and a simple calculation and you've got $$/ft2. Pretty… more
Putting Yourself in Jeopardy
Alex, "Real Estate for $2000, please". "Knows the most about the local real estate market. " Bzzz. Yes Sam? "What is Zillow? ". I'm sorry, Sam, that is NOT the correct answer. Bzzz. Yes Pat? "Who is my friend… more
Shouldn't The Home Inspector Have Found More Wrong?
Let's face it, some homes are a bit of a trainwreck. Sometimes it's apparent from the moment we walk in the door, other times things LOOK great on the surface, but when you start to look closer you find the problems. Wiring not done properly, some… more
Questions About Which Cincinnati Condo Is Right For You?
Thinking about buying a Cincinnati Ohio condo? There are quite a few factors to consider when deciding which Cincinnati condo is the best fit for you needs. Of course there's budget, different price points have different availability. Location and… more
Change The Criteria, Change The Results
In our mail today was Money magazine's annual Best Places To Live list and for the first time in awhile Warren County didn't have a Top 50 city. Mason Ohio has typically been in the top 25 when the criteria aligned with what Mason offers. But… more
Do I Have To Use The Builder's Lender?
Most major builders in the Cincinnati area are tied closely with a particular lender. Given their choice they'd prefer you use THAT lender before any other you personally chose. It's not unusual for the builders to even offer some type of… more