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.