Nov 19, 2008

Is a “short sale” a bargain? | Rain City Guide

Here is a great blog about Short Sale properties. I often get requests to send a potential home buyer some "foreclosure" and "short sale" listings because they want to get a steal of a bargain. Unfortunately, on a short sale, often the bank will not settle for less than a certain amount to cover as much as possible of the current mortgage balance. The mortgage balance could be much higher than the current property value. Every situation is different. The bank has no emotional attachment to the property, therefore, will not be as flexible with a potential buyer.

I would say that the best "deals" are those where the seller is very motivated to sell for various reasons (job change, family, etc) other than being strapped with monthly payments that they can no longer make.

Although this bog is regarding the Seattle area, it still applies to real estate in Columbus, Ohio.

Is a “short sale” a bargain? Rain City Guide

Check back for more information about buying short sale and foreclosure properties in Columbus, Ohio.

Here is a link to the current active, in contract and SOLD short sale properties in Central Ohio.

Nov 6, 2008

EPA Seeks Help Nabbing Dumper - Crime - -

Here is a news story from NBC4i regarding dumping of paint in Clintonville.

I think that if this Illegal Dumper is caught, they will wish that they would have followed some simple procedures that are far less expense than paying fines!

EPA Seeks Help Nabbing Dumper - Crime - -

Here is a website that explains the procedure for dumping in and around Columbus, Ohio.

Scroll down to the bottom of the page to see specifics for Latex Paint!

Oct 30, 2008

Solution to the housing crisis is simple.

If you take the stock market crisis out of the housing picture, remove the predatory loan defaults, what is left over is an opportunity for new home buyers to help correct the market.

History shows that real estate values go up and down. There has to be an adjustment period at some point. This adjustment period has alot more outside factors contributing to this particular market condition, but you can "FIX IT."

If you want to buy a house, you have good credit, you have down payment money (either enough for an FHA loan or you have 10-20%) it's OK to buy a home!

New listing total numbers are down. More homes are going in to contract. The market seems to be in the beginning stages of leveling off. If more people start to buy homes, the prices will eventually start to inch upward. Interest rates will remain low for a while. You will own a home.

It really is that simple. Supply and Demand.
For more information on the process of buying or selling a home in Columbus, Ohio please contact me today!

Oct 23, 2008

How is the housing market in Columbus, Ohio?

That is the most frequently asked question asked by potential home buyers and sellers in Columbus, Ohio.

The truth is, there is no "one answer" for everyone in this market. If you owe close to what the market will bring for your home, but you are managing your payments, then maybe you should hold out on that move.

If you have to move for a job, family situation, etc., then you may lose out on some of what I like to call "ghost equity" that everyone was accumulating until recently.

The good news is that you have an opportunity to get a reasonable price on the new home, not to mention a low interest rate on the new mortgage.

Columbus Realtors Statistics.

A lot of people (Real Estate Agents and non-agents) feel pretty good about the Columbus, Ohio market, for now. The numbers seem to show that we are back to the average sales prices of around 2003 and 2004.

Oct 16, 2008

We all need to ponder this for a bit...

“No man knows what the future holds in any particular set of events, but every thoughtful person recognizes the probability that we shall live the remainder of our lives in turmoil…
Instead of pining for easier days, the way of wisdom lies in learning to live realistically in times of strain.
“All experience the storm, but not all experience it in the same way. Though the storm may be beyond our powers, the response is not.”
- Elton Trueblood
"The Life We Prize"
As recited by Keynote speaker, Dr. Stephen Douglas for
 Corporate Passport to Success Event, Oct 2008