Frist-Time Homebuyers: Are you Ready?

Choosing to purchase your first home is a big decision, and it should be well-infomed. Before you decide to commit, ask yourself the following questions, as posed by an article in The Columbus Dispatch:

1) Are you aware of home ownership expenses? Qualifying for a mortgage and having enough money for a downpayment are huge considerations--but they aren't the only ones. Homeowners also pay property taxes, mortgage insurance, utilities costs, and routine maintenance expenses. And what if you have to buy a new roof or A.C. unit? Certified financial planner Paul Dolce urges buyers to wait until they can put 20% down on a home to avoid mortgage insurance and to "establish a a pattern of financial discipline."

2) Are you willing to sacrifice your weekends? Maintaining a home requires several factors--such as lawn care, garden care, DIY projects such as painting, and home repair. On average, adults spend 3-4.3 hours on lawn/garden work each week, according to a 2009 Bureau of Labor Statistics survey. In other words, owning a home does not only require money--it also requires time.

3) Are you sure you'll want to live in this house for at least five years? You build equity while you live in your home. Thus, the longer you live there, the more financially practical it becomes to buy the home rather than rent it. Roughly, if you plan to live in your home for less than five years, home expenses and buying/selling costs may put you at a  loss. It would be more economical for you to rent.

4) Are you confident your relationships will remain the same? Is there a possibility of divorce in your future? What about marriage? Children? If these scenarios are a part if your relatively near future, you may want to delay buying a home. What home and neighborhood is right for a single person may not be so great for a family with two kids. Often, married couples like to buy homes together, so if you're in a serious long-term relationship, it may be smart to wait a bit longer before you take the plunge into homeownership.

5) What is your backup plan? If something happens to your job, or if you need to finance a new hot water heater or car, it's good to have at least six months of housing expenses saved up. This will act as a cushion and ensure that unforeseen expenses won't threaten your new home and lifestyle.

6) Have you researched the neighborhood? Neighborhoods come with different lifestyles. Is the neighborhood you're considering consistent with your way of life? For example, if you're a family with small children, you'll want to ensure that the neighborhood is family friendly. If you live near many retirees or empty nesters, they may be less forgiving when your kids run through their yards. If you like to entertain, you'll want to know that you can play louder music without bothering other people. Ideally, your neighbors will join in, and the area you live in will have lots of kids who can befriend your own.

If you feel confident with way you answered these questions, then congratulations! You're most likely ready to buy your first home. I specialize in first-time home buyers. Please contact me to discuss your home-buying wants and needs, and to see what I can do for you.

Attention Home Buyers: Have you Considered...

It's easy to get sidetracked when searching for your next home, since emotions play a very large part in this process. Below are some tips to help ensure you're making the right decision in buying a particular home.

Do some research. Research recent local news, talk to neighbors about the pros and cons of the area, and get a home inspection and detailed records on home improvements that previous owners have conducted. This will expose potential problems such as an unsafe or unfriendly neighborhood, the exposure of radon gas or lead paint, and what home projects will need to be addressed when.

Don't underestimate location. Visit the home at various times of the day to get a feel for natural light exposure and noise. Close to a school? That's not a big deal in the summer, but could be unfavorable during the rest of the year. Also consider your view: do your neighbors have respectable homes? Does the neighborhood have restrictions about what neighbors can build there? Houses that look like tear-downs may be replaced with larger homes that block your view and limit natural light. Finally, explore the surrounding area. Are you close to railroads or airports that may be too loud? Does your neighborhood back up to a less desirable part of town, or commercial area? Are you close to grocery stores, restaurants, schools, or other highly trafficked places? They say that real estate coms down to location, location, location!

Be conscious of expenses. Remodeling can be more complicated than it seems. While painting a wall is quick and inexpressive, adding bathrooms and other more complicated projects could get messy and pricy. Ask for utility bills so that you can consider these expenses when debating whether or not to buy a certain home. Also ask the seller for taxes, focusing on the amounts for several recent tax bills.

These are just a few things a buyer can do in order to make the best informed decision. Having a knowledgeable Realtor is an invaluable resource. Contact me to see what I can do for you.

4 Stats Homebuyers Should Know

To have the most positive and successful homebuying experience, homebuyers should be as educated as possible about the market they are navigating. Knowing what you're getting into in advance will keep you from feeling too frustrated or overwhelmed. Trulia discusses four points that are good to know when searching for your new home:

1) The number of homes you'll lose before you win.
It's completely normal for buyers to lose out on a few homes before they are the prevailing bidder. When you lose a bid, move forward quickly in search of your next opportunity to make an offer. 

2) Average number of offers per listing.
Ask your agent about what is standard, in terms of competition levels, in the neighborhoods, price ranges, and property types you're looking for. In today's hot market, some people experience multiple offers, same-day sales, and above asking price offers. If this is the case where you are looking--you should know about it. 

3) Neighborhood "run rate."
A run rate mathematically tells you what home prices in an area would be in the future if the continued rate of rise continued for a year. While home price increases can be seasonal (with greater increases occuring in the spring and summer months), our market is still recovering from the recession, so it's quite possible that home price increases will continue to rise throughout the year.

4) Inventory rate and direction
How many houses are listed for sale, and is this number increasing or decreasing? If you're a more selective buyer with a long wish list, it may be hard to find your new home in a lower-than-average-inventory market such as the one we're experiencing today. Knowing this, you may have to sacrifice some of your "must haves" or up your budget. It's best to be realistic about what you can and cannot get in a certain area for a specified price. This will help you make well-timed, well-informed, competitive offers.

If you're not currently working with an agent, and would like to know more about these statistics pertaining to where you'd like to live, contact me. It would be my pleasure to help make your home buying experience easier and more enjoyable. 

Truberry Homes--the 2013 Parade of Home's Foundation House Builder

For the fifth year, Truberry Custom Homes has built the annual BIA Parade of Homes foundation house, which benefits Children's Hospital and the BIA Foundation. The 4,000+ square foot house features an art gallery in the foyer, a generously sized office, impressive built-ins and craftsmanship, a covered porch off the kitchen, and a finished walk-out lower level with a full bar. You still have time to catch the Parade: it runs until June 30th. Get your tickets online for just $11.

Truberry has been building homes in Central Ohio for over 25 years, and ensures that each home is tailored to its owner(s). This personalized approach, plus open communication regarding desired features, finishes, and so forth, guarantees clients will be satisfied with their new home.

Some of my clients are building a condo by Truberry. As an agent, I represent not only buyers and sellers, but also people who work with home builders. I help them through the process, explore different ideas, help negotiate contracts, and write offers. Interested in building a home? Contact me.

Click on the video below for a sneak peak into Truberry's BIA Foundation House.
 

A Great Escape: Lakefront Vacation Condos for Sale!

It’s hardly a secret that summer is Ohio’s most anticipated season. What makes it even better? Being able to spend day or weekend at a lake! Indian Lake is a great community on the water. People can buy waterfront condos that each come with a boat dock. Indian Lake also hosts a variety of events. Some upcoming events include Kid’s Fishing Derby, Turkeyfoot Hospice Parade and Auction, Movie on the Beach, Lakeview Car and Craft Show, Indian Lake’s Got Talent, and Beach Spectacular and Fireworks. Click here for a complete list of activities, including the place and time of each event. Indian Lake's website also details information about restaurants, boating, camping, and the community.

Still not convinced? Come to one of my open houses this Sunday from 12 to 2. I will be showing three different units, which vary in size and price. They are all in Russells Point, Ohio (in Logan County, situated on Indian Lake). Come see for yourself how sweet it would be to own a vacation condo!

To view my Indian Lake listings, click on the following links:

  241 Chase Ave, first floor Listed at $219,900. Bed/Bath: 3/2.5 

241 Chase Ave, second floor Listed at $130,000. Bed/Bath: 2/2

129 Chase Ave Listed at $109,500. Bed/Bath: 2/2

If you're interested in or have questions about the properties, contact me!

Keller Williams Voted Top Workplace of 2013

Columbus CEO declared Keller Williams Realty of Central Ohio the top workplace for large employers in 2013. Furthermore, Keller Williams ranked first in  J.D. Power and Associates 2012 customer satisfaction survey taken by home buyers and sellers. It’s dedication to employee success, community involvement and empowerment through continued education are just some of the many qualities that distinguish this company. What sets Keller Williams (KW) apart from other Realty companies, in particular, is its value on individual contribution. This illustrates the company’s belief that real estate is a local business, driven by individual agents and their brands. Keller Williams provides agents with the tools and resources they need to thrive: frequent educational classes and a sense of community in which agents are eager to help one another. 

One unique feature of Keller Williams is its Agent Leadership Council. Members are selected from the top 20 percent of agents in each office. The Council meets monthly and makes decisions regarding marketing funds, classes offered, and philanthropic contributions. According to Mic Gordon, operating principal of the agency’s KW Greater Columbus Realty arm, this makes Keller Williams an “organic company,’ and not a top-down organization. The classes not only make agents better agents: they also foster leadership and life skills that employees feel help them grow in all aspects of their lives. The company’s focus on corporate responsibility also helps employee growth. KW sponsors KW Cares, which is a non-profit organization that gives back to the communities where the agents live and work. Furthermore, Keller Williams agents gather annually to participate in “red day,” a day filled with community service such as picking up trash, planting gardens, and renovating community centers. For more information about Keller Williams, click on the video below. It shares the company’s rich history.

Interested in working with a KW agent? Contact me to see what I can do for you.

Fast Facts about KW:

Founded in 2002

Privately Owned

Headquartered in Austin, Texas

664 Columbus Employees (5 Columbus offices)

80,000 U.S. Employees