November 30, 2008
Even if you are on the fence for now, that's OK. There will be plenty of opportunities to buy a home when you're ready. Homeownership is a vital engine in the American economy - and in our culture. It creates strong communities and builds wealth for families who buy homes. Homeownership won't go out of style.
November 29, 2008
Last night after the Courthouse lighting we attended the annual Christmas Vacation viewing at Andy's. Always a classic and always a great way to start the Christmas season.
Clark Griswold is a hero to anyone who has to spend the Christmas holiday with family... Yes, watching Christmas Vacation certainly can make you feel better about your own holiday trials and troubles. Of course, if you had to deal with Cousin Eddie and his backwoods branch of the family tree, you’d probably go ballistic too.
Visit ColumbusHousingFacts.com to learn more about our real estate market, but don't forget to talk to the experts themselves: REALTORS®, home builders, and mortgage lenders who know the market well. Those of you who need financial counseling, downpayment assistance, or homebuyer education also will find links to those resources on ColumbusHousingFacts.com.
November 28, 2008
NOW prices are right, rates are low, and there are plenty of homes on the market, but no one knows when that will change. So if you're playing the waiting game, consider that you might be disappointed when the market heats up again (as it always does) if you don't take advantage of today's opportunities.
November 27, 2008
1. Stay put. Commit yourself to your new home for at least 4 - 7 years before making your next move.
2. Money matters. If you're considering a mortgage, shore up your credit and get a copy of your credit report.
3. Get pre-approved. Save yourself the time and grief of looking at houses you can't afford.
4. Determine how large your mortgage can be. Explore different loan options to determine the best scenario for you.
5. Decide what and where you want to buy. Prioritize your needs (location, schools, local amenities, home features).
6. Consider your resale value even if you don’t think you'll be moving.
7. Do your homework. Write a contract based on current sales trends of similar homes in the neighborhood.
8. Calculate the hidden costs. Property taxes, insurance, maintenance, and homeowner association fees can impact your wallet over time.
9. Don’t be house poor. Double and triple check to be sure you haven't maxed yourself out on the cost of your home and have nothing left for repairs.
10. Get help. Use a REALTOR® to get the most for your money. It pays to have someone looking out for your interests.
November 26, 2008
Why you should buy
The main advantage to purchasing real estate during the holiday season is that there are fewer buyers competing with you. So, if you're serious about purchasing a home, you may have more time to make an offer or consider your options. Home inspectors, appraisers, title companies, and anyone else involved in the homebuying process will likely have less business and, therefore, may have more time to work on your transaction. And, as a bonus, many movers charge less in the winter than during the peak seasons of spring and summer.
Most sellers avoid listing their properties at this time of year, so it's possible that the property you find will have a motivated seller. The house may be on the market during the holidays because it's been for sale longer than the owner expected. Or the seller may not be able to wait until the spring, which could result in a better deal for you.
Why you should sell
And with so many consumers using the Internet for part of their home search, it's no longer a big deal if it's sleeting outside when you home is on the market. Buyers can locate your listing from the warmth of their living room and schedule a showing on a warmer day.
Built-in staging ideas
Sellers sometimes struggle with how to decorate their homes to appeal to consumers. Well, during the holiday season, you don't have to think too long to come up with a theme. A tasteful display of holiday decorations can show off your home at its best—10,000 blinking lights on the roof and blow-up Santas and motorized reindeer in the yard may not be a wise choice.
Talk to an expert
If you're planning to buy or sell your home this holiday season, sit down with a Realtor. Sellers can learn about holiday marketing, pricing, and decorating ideas, while buyers can find out how to approach sellers during this special time of year.
With the right guidance and a desire to buy or sell property, you and your family could end up with a great gift this holiday season—a successful real estate transaction. For more information on buying or selling property in Licking County, I invite you to visit allaboutlickingcounty.com.
There are many reasons to be optimistic.
Look around. The central Ohio real estate market is active. Builders are opening new models, homeowners are getting their homes ready for the market, "For Sale" signs are popping up in every neighborhood. Ask a builder or REALTOR® you know and they will tell you that rates are staying down - and 2008 is looking up.
November 24, 2008
Attached is a video from the Big Brothers Big Sisters 2008 Beat Michigan Bash held at OSU Newark. Sold out crowd every year raising $26,468.00 for the children of Licking and Perry County. The "Party on the Patio" dinner sold at auction for $1000. Huge thank you to Roger and Vicky for supporting us two years in a row! (Also thanks to Kenny and Phil for bidding it up) We would like to thank our P.O.P. party donors Andy & Andrea as well as PJ & Kelly. Sorry we (I mean Brandon) forgot to mention you... Also thank you to Shane & Dawn who are easing their way into Buckeye Nation!
Mortgage rates are the biggest factor in determining how much one can afford, so when rates are as low as they are today, you and I have incredible buying power. How low are they? People who bought a home in 1963 were paying the same rate that’s available to us in 2008.
November 21, 2008
If you are a first-time buyer who doesn't need to sell a home, you have an upper hand in today's market and should attend a buyer education program. Also, if you are "moving up," it's a good time to do so. Although you may have to settle for a lower sale price on your current home, the price of the higher-end home you want to buy has also dropped. In addition, investors interested in the long-term couldn't ask for a better market!
November 20, 2008
When I first started Real Estate 7 years ago there were two types of Realtors. The full-time Realtor and the guy or girl that worked at ABC company and came into our office after 5pm and was usually around on weekends. In a "great" market this "part time" Realtor could still sell 20 homes a year without putting much effort into selling. In the trying market that we as Realtors face now it doesn't matter if your are "full-time" or not. It is just like athletics...it comes down to fundamentals.
What do owners of expired listings really want to know about you and your real estate services? The answer may surprise you.
Barb Van Stensel, an agent for Keller Williams in Chicago, shared an interesting piece of data about what she is hearing from the owners of expired listings these days. The first question is not, "Why didn't my house sell?" or "What are you going to do that will get my house sold?" Instead, the question that Barb is hearing repeatedly is, "Do you have a second job?" These sellers, whose properties have been on the market and have not sold, are justifiably concerned about their agent's ability to help them close their sale.
When a seller asks whether an agent is part time or full time, the real issue is whether the agent has the necessary skill set to close the sale. Just being "full time" doesn't address this issue. Across the country, managers are struggling with how to inspire their full-time agents to "get out of bed and come to the office in the morning." In contrast, there are plenty of agents who are having their best year ever. What makes successful agents in this market different?
1. They have a positive mindset. Most sellers realize how tough it is to sell a property in today's environment. They want an agent who is optimistic and upbeat while also being realistic about market conditions. The agents who are succeeding have a "bring it on" attitude towards the market.