It is important at this time of year to think about winter home preparation and maintenance. As the temperatures drop, your home has needs to keep it in great shape through the winter.
You should seal off your house during the colder months. Use weather stripping around doors to prevent cold air from entering and caulk around windows. Replace any cracked glass in windows or doors. If your home has a basement, invest in plastic covers for protection of the window wells. All these steps will seal off your home from the cold and help keep the cost of heating your home low. Next check the furnace. Call your heating, ventilating and air conditioning (HVAC) professional to inspect and clean your furnace. You should change your furnace filter monthly. Because the furnace will be running during the winter months, make sure all flammable materials are away from the area around the furnace. Check the fireplace to make sure that the "cap" or "screen" on the top of the chimney is closed to keep out rodents and birds. If your chimney has not been cleaned since last winter, make sure you call a chimney sweep to remove soot and creosote. Then you are ready to strike up a fire. Checking roofs, gutters and downspouts will protect your home from winter damage. Make sure to check for worn roof shingles or tiles and replace them to prevent leaks. Clean the gutters of leaves and debris, and install leaf guards onto the gutter so that water is directed away from the house. You should also trim tree branches away from the house or any electrical wires. It is also a good ideat to have working fire and carbon monoxide detectors. Test each of them to ensure they are working properly. You want to make sure that you have both detectors next to the furnace and water heater. You might consider buying a fire extinguisher or replace one that is older than 10 years, in case of emergencies. With the cold weather, freezing pipes is a homeowner's worst nightmare. To prevent pipes from freezing this winter, make sure you drain the water out of all garden hoses and air conditioner pipes. If your AC has a water shut-off valve make sure to turn it off, and remember to leave the heat on when if you are going away for the holidays. You should leave it set at 55 degrees to prevent freezing pipes. By maintaining your home you can enjoy the winter months and the holidays without the added stress of home repairs.
December 18, 2007
December 4, 2007
Short Sales
In these times, when people are faced with forclosure caused by job/income losses, a weak economy, divorce, rising adjustable mortgage rates, and illness it is helpful to know the steps the homeowner should follow to pursue a Short Sale instead of going into forclosure. A short sale occurs when the owners/sellers do not net enough money and equity from the sale of the property to pay off all mortgages, fees, liens, and closing costs. They are "short" when they go to the closing table. A short sales does not impact the owners credit rating as dramatically as a foreclosure. There are factors to consider, such as the potential that the owner could still owe the difference shorted in the sale or the amount, if forgiven, could be considered taxable income. An owner/seller should follow these steps to engage in a short sale.
-Obtain name, address, telephone number, and e-mail address of their lender's loss mitigation contact person, and the best time to reach him/her.
-Get specific directions as to what requirements need to be met from the lender's loss mitigation contact.
-Ask the lender to send a short sale packet, so the paperwork can be started.
-Complete paperwork and/or write a letter giving your consent for the lender to release short sale information to specified people who will need it. Also, the owner may be asked to write a letter describing what caused the current hardship situation.
-Owners will be required to complete a current financial statement.
-Owners may be asked to submit pay stubs, a copy of their listing agreement (if the property is listed) and bank statements.
-If there are other known lien holders against the owners, besides the mortgage company, the owners must make contact with these lien holders. All parties must be contacted and made aware of the short sale.
-If the lenders refuse to release for "no consideration," see what other options are available
-Secondary lien holders have few options and need to cooperate. The homeowner will be responsible for maintaining the property until it is sold and the property closes. The short sale process usually takes a minimum of 6 to 8 weeks. Once the short sale is approved by the lender, the homeowner will execute all documents that are necessary for selling the property, including listing agreements, purchase agreements, and closing documents, even though all sales proceeds will be going to the lender/lien holders.
November 26, 2007
Green Lifestyle
Here are some things you can do to live a green lifestyle
Invest in a water filter. It’s a much greener (and cheaper!) choice than buying and discarding plastic water bottles. Just think about this next time you’re in the bottled water aisle: it takes approximately 1,000 years for water bottles to biodegrade. Bring your own bag to the store instead of using their provided plastic bags. If you must use a plastic bag, think of a way to reuse it as a trash bag for your bathroom waste can or for collecting pet droppings from the yard.
Wash and reuse plastic plates and cups instead of buying and throwing away paper or Styrofoam every time you have a barbeque, picnic or party. Bring your own mug every time you go get coffee. Being green is even trendier than toting around that branded cardboard cup.
Pay bills and bank online. Just think how much paper you’ll save, not to mention the money you’ll save on stamps. Start a compost pile in your backyard. Alternate layers of garden waste and food scraps with thin layers of soil and stir every one to three weeks. One the pile turns dark and crumbly, work into your garden or lawn as a conditioner. Carpool or use public transportation whether you’re traveling to work, school or shopping. Utilize the sun when you want to light your home during the day. Open blinds and let the sun shine in instead of flipping on the light switch in every room of the house.. Get involved in a local club that promotes green awareness, sets up community recycling programs and interacts with government officials when it comes to environmental legislation. Not only will you do your part for the environment, but you’ll also meet new and interesting people!
Invest in a water filter. It’s a much greener (and cheaper!) choice than buying and discarding plastic water bottles. Just think about this next time you’re in the bottled water aisle: it takes approximately 1,000 years for water bottles to biodegrade. Bring your own bag to the store instead of using their provided plastic bags. If you must use a plastic bag, think of a way to reuse it as a trash bag for your bathroom waste can or for collecting pet droppings from the yard.
Wash and reuse plastic plates and cups instead of buying and throwing away paper or Styrofoam every time you have a barbeque, picnic or party. Bring your own mug every time you go get coffee. Being green is even trendier than toting around that branded cardboard cup.
Pay bills and bank online. Just think how much paper you’ll save, not to mention the money you’ll save on stamps. Start a compost pile in your backyard. Alternate layers of garden waste and food scraps with thin layers of soil and stir every one to three weeks. One the pile turns dark and crumbly, work into your garden or lawn as a conditioner. Carpool or use public transportation whether you’re traveling to work, school or shopping. Utilize the sun when you want to light your home during the day. Open blinds and let the sun shine in instead of flipping on the light switch in every room of the house.. Get involved in a local club that promotes green awareness, sets up community recycling programs and interacts with government officials when it comes to environmental legislation. Not only will you do your part for the environment, but you’ll also meet new and interesting people!
November 15, 2007
Housing near the NEW Dublin Methodist Hospital
A new hospital will open in January 2008 in Dublin and will add many new jobs in the City of Dublin. If you or someone you know is looking for a new home to buy or lease in the area, I can help. I have listings in varying price ranges conveniently located to the new hospital. Examples are: 5718 Ennishannon, a luxury patio home, price at $498,000; 5804 Haddingtonshire, a 1 story home, priced at $198,000; 6982 Parnell Ct, a 2 story, priced at $274,500; or a 9+ wood acre retreat, with 5 or 6 bedrooms, located at 9362 Brock Rd and priced at $859,750 - this home can be leased for $4900/month. I also have a large 1 bedroom condo for rent for $800/month very close to the hospital, located at 6011 Craughwell Lane. There are many other properties that could suit your needs - call me and I will help you find the perfect one for you.
Why OhioHealth is expanding in Dublin is that Dublin and the surrounding northwest communities are growing fast, with a continued increase in the need for quality, close-to-home healthcare services. With its healing environment, world-class service, emphasis on patient safety, and links to other OhioHealth facilities, it is our goal to make Dublin Methodist Hospital the community healthcare resource of first choice in the suburban northwest.
Why OhioHealth is expanding in Dublin is that Dublin and the surrounding northwest communities are growing fast, with a continued increase in the need for quality, close-to-home healthcare services. With its healing environment, world-class service, emphasis on patient safety, and links to other OhioHealth facilities, it is our goal to make Dublin Methodist Hospital the community healthcare resource of first choice in the suburban northwest.
October 22, 2007
Representation
Understanding Agents
You may already know that you want an agent-but what's left is understanding how the relationship works. By definition, your agent is someone who will represent your interests. And a handful of laws governing agency relationships have been designed to help you feel safe with your decision. Just understand that these laws differ from state to state, and agency policies differ among real estate companies. Here are a few basics you should know:
When a real estate agent/broker represents a buyer or seller, the agent/broker owes the buyer or seller certain fiduciary duties, which means they're charged with requirements of confidentiality, obedience, fidelity, loyalty, accounting, and reasonable skill and care.
When a real estate agent/broker does not represent a buyer or seller, no fiduciary duties exist. However, even when there are no official duties, real estate professionals still have an obligation of honesty to all parties with whom they interact.
In many states, real estate agents may choose whether they practice single agency or dual agency. Here are the differences:
Single agency - representing either the buyer or the seller. Single agency agents must:
Be loyal and act in your best interests;
Obey your lawful instructions;
Protect your confidences;
Exercise reasonable skill and diligence when answering your questions;
Be accountable for handling funds and paperwork;
Present all offers in a timely fashion; and,
Execute other duties as outlined in your listing agreement or buyer's agency contract.
Dual agency - representing both the buyer and seller, with disclosure to both parties.Among other tasks, dual agents must:
Treat all parties to the transaction fairly;
Disclose any material defects in the property;
Facilitate the sale of the property following contract acceptance; and,
Disclose the party, whether seller or buyer, in whose interest she/he is working. This disclosure is usually made in writing via an "Agency Disclosure Form" and/or broker document.
You may already know that you want an agent-but what's left is understanding how the relationship works. By definition, your agent is someone who will represent your interests. And a handful of laws governing agency relationships have been designed to help you feel safe with your decision. Just understand that these laws differ from state to state, and agency policies differ among real estate companies. Here are a few basics you should know:
When a real estate agent/broker represents a buyer or seller, the agent/broker owes the buyer or seller certain fiduciary duties, which means they're charged with requirements of confidentiality, obedience, fidelity, loyalty, accounting, and reasonable skill and care.
When a real estate agent/broker does not represent a buyer or seller, no fiduciary duties exist. However, even when there are no official duties, real estate professionals still have an obligation of honesty to all parties with whom they interact.
In many states, real estate agents may choose whether they practice single agency or dual agency. Here are the differences:
Single agency - representing either the buyer or the seller. Single agency agents must:
Be loyal and act in your best interests;
Obey your lawful instructions;
Protect your confidences;
Exercise reasonable skill and diligence when answering your questions;
Be accountable for handling funds and paperwork;
Present all offers in a timely fashion; and,
Execute other duties as outlined in your listing agreement or buyer's agency contract.
Dual agency - representing both the buyer and seller, with disclosure to both parties.Among other tasks, dual agents must:
Treat all parties to the transaction fairly;
Disclose any material defects in the property;
Facilitate the sale of the property following contract acceptance; and,
Disclose the party, whether seller or buyer, in whose interest she/he is working. This disclosure is usually made in writing via an "Agency Disclosure Form" and/or broker document.
October 15, 2007
Columbus Ranks 3rd !
Columbus is ranked 3rd behind Seattle and Pittsburgh by Forbes to have the most stable real estate market into 2008.
From the Forbes Magazine article:
Forbes ranked the country's 10 most stable markets. All are projected to have median home sale price increases next year, thanks to a combination of factors including lower-than-average inventory levels, little price volatility and high job growth. To arrive at our list, we teamed with Moody's Economy.com to develop three prediction models based on a range of factors that affect how prices move. These include, among other things, the state of local economies, new construction contracts, foreclosure rates, local credit markets, sales rates, affordability and inventory. Each of America's 40 biggest cities was ranked on all three models, with price appreciation counting one half and sales rates and credit models accounting for the other
half. Data were drawn from the U.S. Census Bureau, National Association of Realtors, Equifax, a
credit-market tracking firm and Moody's Economy.com.
Behind The Numbers
The first model looks at projected median existing home price growth from fourth-quarter 2007 to fourthquarter 2008. Factors influencing this data include the market's inventory of unsold homes and the amount of new construction underway, both of which have obvious effects on supply. Housing affordability and local construction costs also play a role, acting as indicators of the market's ability to accommodate first-time buyers and new construction. Next is job growth, which attracts people to the area and increases their ability to buy a home. Expensive markets like Seattle and San Francisco, which have low housing inventories and low construction
costs, do well by this measure. Most of the top performers, however, are affordable, high-job growth markets like Dallas and San Antonio. "It largely reflects that these markets never went through the boom and aren't going through the severe bust," says Mark Zandi, chief economist at Moody's Economy.com. "Price growth is not great, but [these markets] are not having house price declines. [All markets] are experiencing pricing problems, but in these markets it's less of a problem." Moody's second predictive model examined market activity by calculating sales rate, which measures how quickly unsold inventory is expected to sell, and turnover, which measures how much of the overall housing stock those sales represent. For example, the projected volume of home sales in San Francisco for the coming year represents a low 1.1% of the market's overall housing stock. In a market like Los Angeles, hamstrung by foreclosures and inventory glut, a 1% to 2% sales rate is potentially devastating--but given San Francisco's supply-side fundamentals and low foreclosure rates, prices are expected to modestly climb.
From the Forbes Magazine article:
Forbes ranked the country's 10 most stable markets. All are projected to have median home sale price increases next year, thanks to a combination of factors including lower-than-average inventory levels, little price volatility and high job growth. To arrive at our list, we teamed with Moody's Economy.com to develop three prediction models based on a range of factors that affect how prices move. These include, among other things, the state of local economies, new construction contracts, foreclosure rates, local credit markets, sales rates, affordability and inventory. Each of America's 40 biggest cities was ranked on all three models, with price appreciation counting one half and sales rates and credit models accounting for the other
half. Data were drawn from the U.S. Census Bureau, National Association of Realtors, Equifax, a
credit-market tracking firm and Moody's Economy.com.
Behind The Numbers
The first model looks at projected median existing home price growth from fourth-quarter 2007 to fourthquarter 2008. Factors influencing this data include the market's inventory of unsold homes and the amount of new construction underway, both of which have obvious effects on supply. Housing affordability and local construction costs also play a role, acting as indicators of the market's ability to accommodate first-time buyers and new construction. Next is job growth, which attracts people to the area and increases their ability to buy a home. Expensive markets like Seattle and San Francisco, which have low housing inventories and low construction
costs, do well by this measure. Most of the top performers, however, are affordable, high-job growth markets like Dallas and San Antonio. "It largely reflects that these markets never went through the boom and aren't going through the severe bust," says Mark Zandi, chief economist at Moody's Economy.com. "Price growth is not great, but [these markets] are not having house price declines. [All markets] are experiencing pricing problems, but in these markets it's less of a problem." Moody's second predictive model examined market activity by calculating sales rate, which measures how quickly unsold inventory is expected to sell, and turnover, which measures how much of the overall housing stock those sales represent. For example, the projected volume of home sales in San Francisco for the coming year represents a low 1.1% of the market's overall housing stock. In a market like Los Angeles, hamstrung by foreclosures and inventory glut, a 1% to 2% sales rate is potentially devastating--but given San Francisco's supply-side fundamentals and low foreclosure rates, prices are expected to modestly climb.
October 4, 2007
Dublin home on Parnell Ct
I have a new listing on Parnell Ct in Dublin near Dublin Coffman High School and it is one of those houses that is a real surprise when you go inside. The house looks nice on the outside and has been very well maintained but you would expect a typical floor plan with living room, dining room and family room and this one is pleasantly different. It has a nice 2 story foyer that opens into a formal dining room on the front of the house. The back of the house is comprised of the kitchen, a large eating area with french doors to the deck and a large family room with vaulted ceiling, woodburning fireplace, wetbar, and another set of french doors to the deck. It is a very nice layout and is all neutral decor and shows extremely well. Upstairs has a nice master suite and master bath with a garden tub and shower, plus two other nice bedrooms and a shared bathroom. The lower level has a nice sized finished room used as a den/office. There is ample storage in the unfinished part of the basement in addition to the crawl space. All in all, it is a great house and should sell quickly.
October 2, 2007
Curb Appeal
It is important for your house to have the absolute best curb appeal possible. That will be the determining factor many times on whether a prospective buyer will ever see the inside of your house. Stand back with a critical eye and look at your landscaping. Are your trees and bushes overgrown? Are they making it difficult to see the house well. Are there weeds present? Is the grass mowed and trimmed neatly? Are the sidewalks edged? Are there flowers or would the addition of some add color and improve the appearance? Is your front door clean or have a nice appearance or does it need to be repainted? Would the addition of a tasteful wreath on the door help? Are the drapes or other window coverings uniform in appearance and open during the day? What about the condition of the driveway? Are you keeping your garage door closed whenever possible? These are some of the questions you should ask yourself when trying to market your home. I would always be willing to help you and be your critical eye....just give me a call!
September 25, 2007
Committed to Results
This is my committment, to get results for my clients. I do not take this lightly. I consider the goals of each client as my personal assignment to achieve. I am constantly looking for ways to make it happen for them. I have a strong work ethic and expect to be held accountable to succeed for my customer. 100% customer satisfaction is always my goal and you can't get that without results.
September 18, 2007
Columbus Area Real Estate Market update
This article was published in the In Contract magazine:
Home sales heat up in July
(August 23, 2007) Those central Ohioans interested in purchasing a home kept many sellers busy this summer as is evidenced by the rise in home sales last month. The 2,398 homes sold in July represent a five percent increase over the 2,283 sales last year according to the Columbus Board of REALTORS®.
“The increase in home sales last month is good news for both buyers and sellers, says Brad Bennett, President of the Columbus Board of REALTORS®. “Obviously those sellers whose homes are on the market sigh with relief when sales are increasing. But how does this benefit the buyer?”
“When you continue to have more homes for sale than buyers, as we’ve had for over a year now, home sales prices will flatten. Although this works in the buyer’s favor in the short term – i.e. the purchase of a home at a very competitive price, the buyer turned homeowner then wants to see the value of their home increase. In order for that to happen, the demand and supply need to move more towards a balanced market which requires either a decrease in housing inventory or an increase in sales. Thus the increase in sales is good news for buyers.”
In addition to the increase in home sales, the number of homes which went into contract last month increased almost two percent over the previous year which suggests that sales will be on the increase again in August.
The average sale price of a home sold in July was $184,521 which is 0.8 percent behind the average sale price for the same time last year. Year to date, the average sale price is $176,495 which is a mere 1.1 percent behind last year.
“There is still money available at good rates,” adds Bennett. “And we have many reputable lenders here in central Ohio. Ask your REALTOR® for a recommendation.”
Home sales heat up in July
(August 23, 2007) Those central Ohioans interested in purchasing a home kept many sellers busy this summer as is evidenced by the rise in home sales last month. The 2,398 homes sold in July represent a five percent increase over the 2,283 sales last year according to the Columbus Board of REALTORS®.
“The increase in home sales last month is good news for both buyers and sellers, says Brad Bennett, President of the Columbus Board of REALTORS®. “Obviously those sellers whose homes are on the market sigh with relief when sales are increasing. But how does this benefit the buyer?”
“When you continue to have more homes for sale than buyers, as we’ve had for over a year now, home sales prices will flatten. Although this works in the buyer’s favor in the short term – i.e. the purchase of a home at a very competitive price, the buyer turned homeowner then wants to see the value of their home increase. In order for that to happen, the demand and supply need to move more towards a balanced market which requires either a decrease in housing inventory or an increase in sales. Thus the increase in sales is good news for buyers.”
In addition to the increase in home sales, the number of homes which went into contract last month increased almost two percent over the previous year which suggests that sales will be on the increase again in August.
The average sale price of a home sold in July was $184,521 which is 0.8 percent behind the average sale price for the same time last year. Year to date, the average sale price is $176,495 which is a mere 1.1 percent behind last year.
“There is still money available at good rates,” adds Bennett. “And we have many reputable lenders here in central Ohio. Ask your REALTOR® for a recommendation.”
September 17, 2007
Now is really a great time to buy
The Central Ohio market has reached an all time high with homes for sale. As a buyer, that means you have the greatest selection of homes to choose from. This does vary from one neighborhood to another. Currently, sellers need to price their homes to compete so year over year prices have remained stable or declined slightly. As the market corrects itself, prices will being to rise again. Mortgage rates have gone down again and are close to 40 year lows. If you are thinking of buying, work with your agent to find the best homes and they will help you negotiate the best price.
September 13, 2007
Virtual Tours
There are various web tools available to display houses and create virtual tours. Some are much more effective than others. In fact, some of them are very difficult to watch and make you dizzy. However, because some give you such a great sense for the home, you should click on the virtual tours on listings to see what you think. It can save a lot of time looking for houses if the "walk thru" does its job. This can help you narrow down the houses to visit in person. Having a floor plan to look at is also helpful and not common on used houses like it is for new construction. There is a product that combines the floor plan, with photo perpectives from different locations on the plan, with a walk thru and this tool is very effective. If you are curious take a look at this one which is for a great 9 acre country retreat in the Dublin, OH area. I think you will agree this is an effective way to view this property and make the decision to schedule a showing. Here is the link: http://www.seetheproperty.com/23130
I would love your feedback on this! Thanks!
I would love your feedback on this! Thanks!
September 11, 2007
Looking at empty houses
Sometimes you can be fooled by a vacant house. They can seem larger or smaller than actual because being empty removes perspective. They also lack personality! I have a house for sale that has been empty for the last 8 weeks and although it is a great house in a fantastic price range for Dublin, OH there have been no offers. The last few days were spent staging the house with some furniture, window coverings, wall hangings, etc. We are now anxious to see what happens. It really looks like an entirely different house. If you are looking in Dublin and want 250's price range, don't miss this one. The address is 337 Monterey Drive in Waterford Village.
September 3, 2007
Choosing a neighborhood
Get to know the neighborhood. You can learn a lot about the character of a neighborhood just by driving around. Also consider talking to some of the neighbors about concerns such as:
How do the children routinely reach their schools, play areas and friends' homes–by walking, bicycle, bus or do parents drive them? Is public transportation available for commuting or shopping? How far away is your place of worship? Do any local ordinances affect pets, parking, lawn care or other activities? What are the disadvantages of the neighborhood? Freeway, railroad or airplane noise? Factory pollution, heavy traffic, exposure to heavy storms, possible flooding? Are there homeowners' association restrictions? Beyond talking to the neighbors, here are some additional avenues for information: Drop in on local school board, government or other open community meetings. Visit the schools. Dine and shop in local establishments. (Tip: Be sure you overhear what the locals have to say about issues of neighborhood concern.) Subscribe and read the community newspaper(s). Ask your agent, who has excellent resources to share.
Buying a home requires a lot of introspection. Use these questions as you consider what type of community you'd like to live in and be sure to share your answers with your agent:
Which type of living do you prefer? Urban Suburban, Semi-rural, Rural
Which type of population density would you prefer? Low, Medium, High
Would you prefer a community whose population is: Decreasing, Stable, Increasing
Which natural features are the most important to you? Woods, Hills, Flat land, Rivers, Lakefront, Stream Pond
How do you commute to work? Walk, Drive, Car pool, Taxi, Bus, Train
What's the distance of your commute? 0-5 miles, 6-10 miles, 11-20 miles, 20+ miles
What's the maximum amount of time you'd be willing to have for your morning commute? Less than 20 minutes, Under 30 minutes, 1 hour
Would you use available public transportation for local trips or to visit nearby communities? Yes or No
Would you like to live near public transportation? Yes or No
Where do you prefer to shop? Central commercial districts, Shopping malls, Community shops, None, I prefer home delivery
Which type of school do you need now or in the next few years? Elementary, Middle/Junior High, Senior High, Community College, College/University
Which amenities would you desire to have nearby? Recreation, Entertainment, Music, Movies, Live Theater, Sports Arenas, Museums, Nightlife, Public Parks, Private Country Clubs, Fraternal Groups
Choosing a home you can afford in a desirable location is a wise choice, both from a personal and financial perspective. Keep in mind that the neighborhood is part of what you buy when you purchase a home. Find out where the neighborhood is going – and where it's been. The property value of houses in the neighborhood can tell you a lot, as well. Ask your agent for a comparative market analysis.
How do the children routinely reach their schools, play areas and friends' homes–by walking, bicycle, bus or do parents drive them? Is public transportation available for commuting or shopping? How far away is your place of worship? Do any local ordinances affect pets, parking, lawn care or other activities? What are the disadvantages of the neighborhood? Freeway, railroad or airplane noise? Factory pollution, heavy traffic, exposure to heavy storms, possible flooding? Are there homeowners' association restrictions? Beyond talking to the neighbors, here are some additional avenues for information: Drop in on local school board, government or other open community meetings. Visit the schools. Dine and shop in local establishments. (Tip: Be sure you overhear what the locals have to say about issues of neighborhood concern.) Subscribe and read the community newspaper(s). Ask your agent, who has excellent resources to share.
Buying a home requires a lot of introspection. Use these questions as you consider what type of community you'd like to live in and be sure to share your answers with your agent:
Which type of living do you prefer? Urban Suburban, Semi-rural, Rural
Which type of population density would you prefer? Low, Medium, High
Would you prefer a community whose population is: Decreasing, Stable, Increasing
Which natural features are the most important to you? Woods, Hills, Flat land, Rivers, Lakefront, Stream Pond
How do you commute to work? Walk, Drive, Car pool, Taxi, Bus, Train
What's the distance of your commute? 0-5 miles, 6-10 miles, 11-20 miles, 20+ miles
What's the maximum amount of time you'd be willing to have for your morning commute? Less than 20 minutes, Under 30 minutes, 1 hour
Would you use available public transportation for local trips or to visit nearby communities? Yes or No
Would you like to live near public transportation? Yes or No
Where do you prefer to shop? Central commercial districts, Shopping malls, Community shops, None, I prefer home delivery
Which type of school do you need now or in the next few years? Elementary, Middle/Junior High, Senior High, Community College, College/University
Which amenities would you desire to have nearby? Recreation, Entertainment, Music, Movies, Live Theater, Sports Arenas, Museums, Nightlife, Public Parks, Private Country Clubs, Fraternal Groups
Choosing a home you can afford in a desirable location is a wise choice, both from a personal and financial perspective. Keep in mind that the neighborhood is part of what you buy when you purchase a home. Find out where the neighborhood is going – and where it's been. The property value of houses in the neighborhood can tell you a lot, as well. Ask your agent for a comparative market analysis.
August 30, 2007
First steps to buying
With all the news every day about the mortgage industry you may wonder if you can get a loan or if you should buy at all. There are only a few things more frustrating when searching for a new home than falling in love with a house that simply doesn’t fit your budget. So before you begin looking for a new home, work with a mortgage company to determine how much you qualify for and get pre-qualified and/or pre-approved. And be sure you understand the differences between those seemingly similar terms.
Pre-qualification. Starting with this step is easy, and it provides you with an estimate of how much financing you may be eligible for. Then you can talk with your agent so he or she can select homes that fit both your preferences and your price range. A pre-qualification is simply just running numbers for you, so you should really get a full fledged pre-approval that includes a credit check. Most loan programs these days are so credit-score sensitive that a lender can’t really tell what programs you qualify for with out having your credit score. This is especially true if you are trying for 100% financing.
If you've never been pre-approved before, you might be pleasantly surprised at your loan estimate. While pre-qualification is a good guideline, it's just that – a guideline. You'll also need to look closely at your monthly income and expenses. Consider whether your future mortgage payment will fit comfortably into your budget; and don't feel it's necessary to spend the full amount for which you've been pre-qualified. A good rule of thumb is that your mortgage payment should be no more than 25 to 33 percent of your monthly gross income, and your total debt-to-income ratio should be less than 38 to 40 percent of your gross income.
Learn how to figure your housing budget. If you didn’t complete a full pre-approval during your first talk with your loan officer, it would be smart to complete the pre-approval process now that you have established a budget. The lender can inform you of any special language you need to include in your offer to purchase based on the loan program you have selected. Often a seamless step, being pre-approved can be the advantage you need if you're bidding against another buyer who is not. Pre-approval also speeds up the actual loan process once you're in contract with a particular property.
Here's some additional information to explain the differences between pre-qualification and pre-approval of your loan:
Pre-Qualification
Based on preliminary information regarding your income, debts and assets.
Information is usually provided verbally to the lender by you.
Once a purchase agreement is executed, you must complete a loan application.
There's no fee.
Pre-Approval
The same as the pre-qualification except you take it a step further and pull a credit report.
The loan officer underwrites the file with desk top underwriting software when applicable.
You are informed of the documentation required to process your loan should you choose to go further.
And then there’s the loan commitment:
You provide documentation of income, assets and debts.
The information you provided is reviewed and an underwriter approves the loan.
Your mortgage is fully approved pending a sales contract and property appraisal.
Learning what you can afford is easy and effective. A mortgage loan officer will help you understand your credit, debt and income and determine the loan amount available to you.
Contact a helpful mortgage loan officer to get pre-qualified. And if you're serious about buying a home, call a loan office to learn how to get pre-approved .
Pre-qualification. Starting with this step is easy, and it provides you with an estimate of how much financing you may be eligible for. Then you can talk with your agent so he or she can select homes that fit both your preferences and your price range. A pre-qualification is simply just running numbers for you, so you should really get a full fledged pre-approval that includes a credit check. Most loan programs these days are so credit-score sensitive that a lender can’t really tell what programs you qualify for with out having your credit score. This is especially true if you are trying for 100% financing.
If you've never been pre-approved before, you might be pleasantly surprised at your loan estimate. While pre-qualification is a good guideline, it's just that – a guideline. You'll also need to look closely at your monthly income and expenses. Consider whether your future mortgage payment will fit comfortably into your budget; and don't feel it's necessary to spend the full amount for which you've been pre-qualified. A good rule of thumb is that your mortgage payment should be no more than 25 to 33 percent of your monthly gross income, and your total debt-to-income ratio should be less than 38 to 40 percent of your gross income.
Learn how to figure your housing budget. If you didn’t complete a full pre-approval during your first talk with your loan officer, it would be smart to complete the pre-approval process now that you have established a budget. The lender can inform you of any special language you need to include in your offer to purchase based on the loan program you have selected. Often a seamless step, being pre-approved can be the advantage you need if you're bidding against another buyer who is not. Pre-approval also speeds up the actual loan process once you're in contract with a particular property.
Here's some additional information to explain the differences between pre-qualification and pre-approval of your loan:
Pre-Qualification
Based on preliminary information regarding your income, debts and assets.
Information is usually provided verbally to the lender by you.
Once a purchase agreement is executed, you must complete a loan application.
There's no fee.
Pre-Approval
The same as the pre-qualification except you take it a step further and pull a credit report.
The loan officer underwrites the file with desk top underwriting software when applicable.
You are informed of the documentation required to process your loan should you choose to go further.
And then there’s the loan commitment:
You provide documentation of income, assets and debts.
The information you provided is reviewed and an underwriter approves the loan.
Your mortgage is fully approved pending a sales contract and property appraisal.
Learning what you can afford is easy and effective. A mortgage loan officer will help you understand your credit, debt and income and determine the loan amount available to you.
Contact a helpful mortgage loan officer to get pre-qualified. And if you're serious about buying a home, call a loan office to learn how to get pre-approved .
August 28, 2007
Country Retreat in Dublin area
I just listed a great property in the Dublin area. Over 9 acres and a large 5 or 6 bedroom house. This would be a great place to raise a family in the Dublin School District and is close to Glacier Ridge Metro Park, Corazon/Tartan Fields and the future developments of Tartan Ridge and Jerome Village. You can find out more information about it on my website. This property is also available for a lease-purchase agreement.
August 23, 2007
Home Search
Recent statistics show that as many as 80% of people search for their new home online. There are many search engines available to do this. Real estate is really a local market. Using a site that lets you get to the area you want to search with ease will make it easier. Sites like HER Real Living allow you to set up your own site to save favorites, set up searches and get automatic alerts when properties that meet your criteria come on the market or have price changes. I had one client tell me they hook their laptop up to their home theater and do their searching on the big screen.
August 22, 2007
Waterford Village development - Dublin, OH
This is a great neighborhood in Dublin. It is close to Historic Dublin, shopping, transportation, bike path system, the new Dublin Methodist Hospital and is in the Dublin School district. There is a great ranch for sale on Monterey Dr for $249,500 you should check out and also a nice 2-story on Odessa Ln for lease if you aren't in the market to buy. You can go to my website and see both properties. It is still a great time to be a buyer in the Central Ohio market.
August 20, 2007
Home Inspections are important
When buying a condo or house you should always have a home inspection conducted. A professional assessment by a reputable home inspector may uncover any problems (large or small), alerting you to any needed repairs and updates. With your agent's help, you may even be able to negotiate for repair or replacement of items before the purchase is complete. You'll be able to bring in a home inspector of your choosing once you go into contract. The inspector will perform a comprehensive evaluation of the home and property, doing everything from testing outlets and faucets; to identifying signs of dampness, termites or carbon monoxide; to making sure walls are strong and windows are secure. Don't overlook this important step in the buying process as it can help insure you have made a good investment.
August 16, 2007
Condos
New condominium developments are being built in the Dublin, Hilliard, and Powell areas in all price ranges with various amenities. Downtown Columbus is a fast developing condo/loft market. In addition to these newer units, existing condos are available and some offer great value and sometimes more space for the money. There are hidden gems you might not know exist without help.
August 15, 2007
Condominiums
If you want to own a home of your own but without the amount of work that comes with a house – like yard work, you may want to consider purchasing a condominium. Condos are popular for a number of reasons including size, location, amenities and, things like limited lawn care and maintenance responsibilities. You should decide based on your lifestyle, your budget and your personal preferences if a condo is right for you. You can ask yourself questions like the following: Do you want or need to minimize the time you spend on yard work and household maintenance chores? Do you want availability of a swimming pool, fitness center, party house or storage facility? Do you need to reduce your monthly mortgage expenses? Are you comfortable paying a condo fee from $100-$400 monthly in exchange for upkeep of common areas, including snow plowing, leaf removal, parking lot maintenance and lawn mowing? Are you willing to submit to the rules and regulations for your community set forth by a condo association? If you answered yes to some of these questions then condo ownership might be for you.
August 14, 2007
The beginning
Welcome to my blogspot. I hope you will enjoy this journey with me as we explore real estate in general and particularly in Central Ohio. My goal is to provide interesting and informative posts on the subject of real estate, all geared toward helping you. I encourage you to send me your feedback and ideas.
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