It's been a while.....

It was a very busy summer and I admit I was negligent in not posting any messages on my blog. Business has been good this year despite what you hear in the media. Hard work and great referrals have provided me with plenty to do. I appreciate meeting some wonderful people this year and look forward to maintaining great relationships going forward.

These are difficult times in the financial world and the news breeds uncertainty. Certainly the number of real estate transactions are fewer than recent years, but there are still buyers and sellers who need or want to make a move. As long as buyers have good credit, they can still get a loan and rates are around 6% currently. Sellers have challenges due to pricing and inventory so they must be sure to make their property look great and price it for the market. Recent CMA's are a must to determine the price - they must be as current as possible.

Be optimistic about the future. Congress is passing a huge financial bailout package. Let's all hope and pray it provides the intended benefits.

In Central Ohio the housing market is active

There is a lot of activity in the Central Ohio housing market. For Buyers, it is a great time to buy. Low interest rates, competitive prices, and plenty of inventory to choose from make it a good time to act if you are thinking of buying your first home. Soon there will be a website with plenty of statistics to review on our local real estate market. The web address will be: www.columbushousingfacts.com. In the meantime, you can contact me and I will provide you all of the pertinent information and facts on the area your area of interest.

Worthington,OH Condo is ready and waiting

Some properties are real gems but don't get noticed. I have a current listing in a great condominium community in Worthington, OH that is updated, neutral, move-in ready but just isn't being noticed. It is a two bedroom condo, however, the master bedroom is a large L shaped room perfect for a bedroom/sitting room combination. The condo boasts beautiful wood floors on the main level, all new carpeting, finished lower level, updates to kitchen and baths, and new slate tiled bay window and fireplace hearth. The complex has a clubhouse, pool, and two tennis courts and is close to everything including the Olentangy bike path. If anyone is looking for a condo in Worthington, they should really take a look at this one. 237 St. Pierre in Villa Charmante Condominiums

Make it look its best when selling

When you are selling your home, it is vitally important to have your home looking its best. One thing that turns buyers off fast is dirty or spotted carpet and rugs. If you are thinking that people will overlook or not notice dirt or spots, beware, you may be losing potential buyers who might otherwise like your home. In a buyer's market, your house has to compete with a high amount of inventory and the ones that look the best get sold. In Central Ohio, I recommend Green Elements Carpet and Rug Care, a "green" process that is dry and does a great job of lifting out spots and dirt. When Green Elements is finished, your carpet and rugs are dry and ready for showings, they smell clean, and spots won't reaapear in a couple of weeks like they do with steam cleaning methods. Give them a try. Their website is www.greenelements.net

What a great time to BUY!

If you have been thinking about buying a house or condo, now just might be the right time to act. Prices have declined over the last year and now interest rates are hovering around 5.5%. What a great combination. Everyday, more properties are coming on the market so there is plenty to choose from. To make sure you get the one you want, work with your agent so he understands your wants and needs and can identify them as they come on the market. I make a point of understanding exactly what my clients want and love to make the phone call....we need to see this property right away, this just might be THE ONE. If you are waiting for the market to hit the bottom before you make a move, you might miss out on the great interest rates and lose money in the long run. Great rates will save you more over time than you might save from one or two more price reductions on the property. If you would like help, please contact me.

Winter Home Maintenance

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.

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.