Todays Real Estate Market

We all are concerned with the current real estate market and will our home values ever recover?

The answer to this question is complex, but first and foremost job creation will stimulate a long lasting recovery. That is not temp or part-time positions, but a full time employment.

Current interest rates are very good and in fact as good as they were over 40 years ago. Yet homes are declining in value and market time is high. How do we remedy this?

Our total economy needs to be turned around first with job stability, job creation and a feeling from each and everyone of us that our job is secure. One does not venture out to get a bigger more expensive home, or purchase there first home unless they feel secure about our economy and their personal growth potential and value to their current employer.

Short sale vs Foreclosure

Which is better and why. The bank short sale generally is in better condition at least cosmetically as the owner still lives there. Also, please be sure to have the buyer pre approved as most banks will not even consider an offer without a pre-approval. Always have the buyer perform a Home Inspection. The buyer also should be aware that this process can take up to 60 days or longer to complete. If the bank has approved the short sale and communicates with all involved the process can be very rewarding for the buyer.

I just completed a 4 course training in the short sale-foreclosure process.

Mortgage Rates

Buyers should be out and buying. Mortgage rates are lowest in decades and home prices are down 5-15% or more depending on area of our country.. When the rates are low this also makes the ability to move up in home more affordable. So if you need a bigger home, downsizing or just need to refinance this is the perfect time.

The government is working on correcting the housing market and who knows how long the good pricing and rates will last. There is no better time to buy than now.

Give me a call at 614-296-1839 and lets make your house purchase dream a reality.

1st time Home Buyers

For the ist time homebuyer here is a list of things to do:

1. Get pre approved

2. Get a realtor (buyer Broker)

3. Find an area you want to live

4. Have real estate agent go over contract when making an offer so you understand

5. Get a Home Inspection and understand all the time frames in the contract

6. Get homeowners insurance for closing

7. Get an attorney to review the title company documents for correctness

8. Change mailing address

9. Change the locks

Homes are Selling

Hey all you buyers!! Homes are selling and it appears that by the end of the year this thing will start to right itself. Rates are absolutely awesome and on I just sold an 1800 square for condo for 68k and the home inspection was very good on the property. It originally was listed at 129k. So deals are there and the mo pmt on this including condo fees is around 576  per month and that includes condo fee. This condo had 2 bedrooms, 2 full baths  2 half baths and  car garage.

Do you think my buyer is happy!!!!!!!!!!!!!!!!!!!!!!!

Have a Great Weekend

All you buyers out there hope you find the perfect home and all sellers I hope you find a qualified buyer. A Wall street journal ad mentioned that with the low home prices now is the time to buy.

Anyone needing a very good realtor I am ready to sell your home or help you find your next home.

Real estate is still a good investment.

The main thing to remember in real estate that newer homes will increase in equity much faster that an older home unless w are talking about a revitalized area like German Village or the Short North in Columbus. So when you buy be careful that the neighborhood is on the up swing in value. A realtor can check trends over a several year period.