Archives
March 2008
Attention Buyers….It’s Time to Take Action!
If you are a potential homebuyer wondering whether now is a good time to invest, here are some points to consider.
There are more choices available to you in the housing market than at any time in recent history. Mortgage interest rates are at historic lows. So why pay another year’s rent on a house you really don’t want? Why sacrifice another year’s interest tax deduction?
If you are waiting for prices to fall further, please know that interest rates could rise at any time. Home prices and interest rates do not necessarily rise and fall in sync. What I like to call “timing the market” is virtually impossible to do with any rate of success.
There was an excellent article in the February 25, 2008 issue of Time Magazine talking about the cost of waiting. An example in the article begins with the purchase of a home today at $218,900 at an interest rate of 5.5%. They compare it to purchasing the same home a year from now at $197,010, a drop of 10% in price, but with an interest rate of 6.0%.
The principal and interest monthly payments end up less than a dollar apart. So, the price savings evaporates with the increase in interest rates.
Just how long are you willing to wait for prices to fall? It is entirely possible that you are costing yourself money, not saving it!
11:19 AM - Mar. 29, 2008 - {0} -
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There are many ways to improve your chances of a quick, full-price sale, but understanding a few of the most basic foundations makes the whole experience more enjoyable and profitable.
First realize that price is everything. Your home is being compared to similar homes in your area. Cosmetic improvements don’t necessarily mean that you can demand a higher price. What if you just spent $3,500 installing premium carpeting and the potential buyers are dreaming of wood floors?
Related to pricing is handling repairs. Ideally, your real estate agent has “walked through” your home and made suggestions for both cosmetic and possibly more serious repairs. A rule of thumb states that buyers will offer $2 less for every $1 of needed repairs. Take care of what’s necessary and move on.
Finally, one of the most misunderstood concepts of successfully showing your home is that you should not be there when an agent shows it! Of course you’d love to witness the reactions of prospective buyers, but your presence will make them feel more like guests and less like would-be owners. Give the agent a chance to field their questions about pros and cons, and provide answers that will put them at ease.
These three considerations are just the beginning to a speedy and successful sale. Discuss the entire marketing plan with a professional and list with confidence!
1:57 PM - Mar. 21, 2008 - {0} -
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There is a very special, limited time loan program from the Ohio Housing Finance Administration (OHFA) now available - The Ohio Heroes Program.
First time home buyers that qualify can receive a LOW, LOW fixed rate of 5.25%. This is one of the lowest fixed rate programs in the State of Ohio. I don't think I've ever seen a fixed rate loan program this low with no points. The program was initiated Monday, March 3rd, 2008.
The program is ONLY available to the following professions:
*Teachers
*Paramedics
*Healthcare Workers
*Police Officers
*Emergency Medical Technicians
*Firefighters
*Active and Retired Military Veterans
This is a limited availability funds program, so don't let this opportunity pass! If you have family, friends or co-workers that are thinking about buying a home, have them contact me right away! I'll provide them with additional information and put them in touch with qualified lenders that can help them. This is an outstanding program that can save a home buyer alot of money.
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