Winter Can Be A Great Time To Sell Your Home

Thinking of waiting until spring to sell your home? You may not want to wait.

Winter can be a great time to sell your home.



Testing 3 Home Buying Myths

Buying a home today is totally different from buying a home 10 years ago. What was true isn't true anymore. This has caused many myths about the process. Just like the TV show, I’m going to Bust a few Myths about buying a home in today’s market.

Myth #1: You need at least a 20% down payment to get a mortgage today.

Busted! FHA requires 3.5% for a down payment and some conventional mortgages are just 10% down. Plus, if you qualify for a VA loan, no down payment is required -- you can finance 100% of the purchase price.

Myth #2: Only those with perfect credit can get approved for home mortgages.

Busted! After tightening their requirements, lenders have now loosened them slightly to be more realistic. They are a little more understanding of issues that many people have had to deal with over the last few years. Blips on your credit report can be overlooked with some documentation and explanation.

Myth #3: If it’s at all possible to buy a home right now, you should.

Plausible! This one is true – sometimes. Mortgage interest rates are still low, and although house prices are slowly creeping up, in most areas they are still very reasonable. We’re also seeing a decrease in distressed homes for sale and more “regular” sales happening. This gives buyers a much better choice when looking for a home. That being said, not everyone should own a home. Flexibility, short-term commitment and low maintenance are all advantages of renting. To see if owning or renting is the best option for you, consult a Realtor who can go over your personal situation with you.

It's A Seller's Market! Well, Not So Fast....

If you listen to our local news, you’d think we were in the middle of a hot seller’s market. They have reported about houses selling in mere hours!

That’s great for those seller’s.Unfortunately, that is still not the norm for Central Ohio. The market doesn’t change that quickly.

The reports of houses selling quickly are true—for certain areas. These niche markets are markets that weren't affected as much by the down market, so it was easier for them to recover. The fact is that most of central Ohio is still in what would be considered a buyer’s market. Prices have not rebounded to what they were before the crash and demand is up, but not to the point where houses go in contract in a few days.

However, there are positive signs that show the market is changing. Supply is down slightly and demand is coming up. We’re on our way to a market rebound.

America's Best Cities

Bloomberg Businessweek posted an article on the 50 Best Cities in America. I posted a link on my Facebook page but thought it was so good I wanted to put it on my blog too. One of the great things about the article is that not only is Columbus placed at #20, but Cleveland (#46) and Cincinnati (#21) also made the list. What a state!

The rankings were based several criteria including leisure and economic factors. They highlighted the fact that our unemployment rate is 6.5% which is below the national average. It mentions we excel in education with 8 colleges, including the great Ohio State University. And finally, they also mention the Columbus Zoo and director emeritus, Jack Hanna.

I think those are all pretty good reason to be proud of our city and I'm glad others are getting to see what we're all about too. For more great things in Ohio, check out my Pinterest board "About Ohio".

Bloomberg Businessweek "America's 50 Best Cities" http://ow.ly/er0re

Don't Wait Too Long....

Don't wait too long to buy a home... if you like a good deal! Prices are right - NOW, rates are low, and there are plenty of homes on the market, but no one knows when this will change. If you're playing the waiting game, consider the possibility that you might be disappointed when the market heats up again. (And it will!) Take advantage of today's opportunities.

Sellers are pricing their homes to compete, since there are more homes for sale than there are buyers. When the economy improves and more people begin to look for homes, prices will rise again. Take advantage of today's market. You'll be glad you did!

When there was an economic and housing downturn in the 1990s, those who purchased homes during that time came out on top because the economy recovered and housing prices picked up.

Waiting for prices in the housing market to "hit bottom" may not be the smartest strategy. Most people only know when a market has reached the bottom by "seeing the trend in the rear-view mirror." Waiting for the absolute lowest prices before buying a home puts you at risk of missing the signals, then finding yourself paying higher prices because the market's in an upswing

Curb Appeal - It's Your First Impression

Everyone has heard the saying "You only get one chance to make a first impression". Typically we think of this for people but it applies to houses too. Most advertisements, including MLS listings, show the front of a home. So how can you get the most out of your first impression? Here are some tips.

1.) Take a Look with New Eyes- Put yourself in the buyer's shoes. Go outside, stand back from your house & take a look.  Sometimes it helps to take a picture so you can see things objectively.

2.) Roof - The roof is a concern for most buyer's because it's a big ticket item. Even if your roof is newer, winter weather can do some damage. Take a look for loose or missing shingles. You might also want to check out the gutters and downspouts.

3.) Driveway & Walkways  -  Driveways can be a dominant feature in a photo of a home. Check for oil stains or cracks. Also check for settling of concrete which may cause a trip hazard.

4.) Landscaping - When most sellers think of curb appeal, they think of their landscaping. That's a good idea. Clear out leaves, pine needles and branches that may have fallen during the winter & early spring. Mulch landscape beds & add some colorful flowers for accent.

5.) Clean - It's time for spring cleaning! Wash down siding & decks, clean out cobwebs from the porch & around the front door, sweep walkways and wash windows.

Putting these simple tips into action will help you make your best first impression.

**For more information on the two homes pictured, click on the following links:  Top photo: 12067 Auburn Ct., Pickerington, Bottom photo: 564 Berkeley Rd., Columbus

Investment Properties

I've had a lot of questions lately about investment properties. Here are the answers to the most commonly asked questions about the investment market right now.