Foreclosure Process for Central Ohio Real Estate

With everyone talking about foreclosures and with how much they have been in the news lately, it’s easy to get worried about the future of your Central Ohio home. The silver lining here is that you often have plenty of warning from your lender before they foreclose your property.

Ohio has judicial foreclosure which basically means that your lender will have to go through the courts system to implement the foreclosure. Currently the system is so bogged down that it is taking 8-10 months to complete the entire process.

The Foreclosure Act is when the lender takes legal action to repossess your home if you default on the loan.

The process begins when you miss the first payment. Your lender will call make efforts to reach you to arrange to get the loan current. It’s very important to talk to your lender at this point. If you're having trouble making the payment due to a temporary problem, your lender may be able to offer options like Forbearance on your loan for a month or two.

With a second missed payment or a failure to meet the arrangements made from the first missed payment, the lender will begin to call you more often demanding that you catch up on the loan. Typically by this point, your mailbox will be overflowing with letters from the lender telling you to become current or they will take appropriate legal action.

If you continue to fall behind on your mortgage, and remain unable to catch up on you payments, you'll receive a different kind of letter from your lender. You will receive a Notice of Acceleration from the lender telling you to become current on your payments by a certain date, or the entire amount of the loan will become due and payable. If you are unable to pay up, the lender will begin the judicial foreclosure process on your Central Ohio home.

Remember, lenders do not want to be in the real estate business and would prefer working with you to avoid the whole foreclosure process and keep you in your home. The key is to stay in contact with the lender and diligently work with them to avoid foreclosure.

With it taking so long to process the foreclosure you have quite a bit of time to try to come up with a way to become current to stay in your home or pursue sale options to help you avoid a foreclosure on your credit.

This is an area I specialize in so if you have more questions please feel free to contact me at 614-273-6406 or email me at Vanessa.simmons@realliving.com. Subscribe to my blog to automatically receive free real estate advice and tips.

LINKS:
Foreclosure: http://credit.about.com/od/df/g/foreclosure.htm
Forbearance: http://www.allbusiness.com/glossaries/forbearance/4951290-1.html
Notice of Acceleration: http://dtbfinancial.com/glossary.html
Judicial Foreclosure: http://www.investorwords.com/2677/judicial_foreclosure.html

Girls Basketball… Like Watching Paint Dry…..

OUCH!!

Was all I could muster after that shocking statement from a fellow agent in my office. My daughter plays basketball for Pickerington North High School’s freshman team. They had an undefeated season this year, doing far better than their male counterparts, I might add.

Pickerington, Ohio is known for girls’ basketball, being the home to a few state championships. Several graduates have gone on to play for The Ohio State University and other great institutions.

I would be the first to admit that back in the late 70’s when I played high school sports our fan base consisted of a few faithful followers and often not even our own parents. But today these girls have elevated their game and are pulling in a crowd. Not yet to the level of the boys but a definite improvement and getting better…

So before you succumb to old assumptions do yourself a favor and check out the Lady Panthers and The Lady Tigers ……..they have some real Ballers!

Looking for a Central Ohio Home in please feel free to call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Blog Syndication Pros and Cons…

Yesterday I was contacted to join a blog syndication beta with World Blog Archive. To be honest I had never heard of such a thing before receiving the email. The offer prompted me to do a little research to discover the pros and cons of this new concept.

Turns out this idea has been around awhile with one major players that seems to dominate the field Blog Burst .

Blog syndication is the act of aggravating many blogs to a single site covering a variety of topics. A virtual one stop shop for consumers looking for a centralized place to find information.

With a variety of topics this could be an opportunity for any business or individual to have their blog involved.

Pros:
1. Most sites are free for bloggers and offer links back to their original blog site
2. More internet exposure for your blog
3. Some sites actually pay cash for top bloggers

Cons:
1. Some sites do not over full feeds which seem to be more favored by consumers
2. By joining some sites you grant them and their affiliates royalty free, perpetual license to reproduce and distribute and even modify your content. (Read the agreement carefully).

I made the decision to accept the invitation from World Blog Achieve.

I will keep you posted….

$8,000 Home Buyer Tax Credit at a Glance

As many of you now know President Obama has signed the stimulus bill into law and it allows for a $8,000 dollar first time home buyer tax Credit. Below are some quick highlights of the program.

· The tax credit is for first-time home buyers only.
· The tax credit does not have to be repaid.
· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
· The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
· Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.


CLICK HERE for a link that will give you more details on this exciting opportunity.

Central Ohio Real Estate Selling Tips For The Winter

If you are like me, I start thinking spring in mid February, but here in Central Ohio we are still have plenty of winter days left. Any Central Ohio real estate agent will tell you that it’s harder to sell your home in the winter. The days are colder and shorter, leaving less time to show your home to potential buyers.

The good news is that most of the buyers who are looking at houses in the winter aren’t just killing time. They’re serious enough about finding their new home to go house hunting at a time that most people would rather stay inside.

There are a few things you can do to make a good impression on home buyers this winter:

· Make sure all walkways are safe. Spread out ice melt or sand to provide traction during snowy weather. Shoveling the snow on the driveway and sidewalks will make your Central Ohio real estate appear more inviting and well maintained. Be sure to place a mat for visitors to wipe their feet on.
· Warm up the house. Buyers will remember the house that was pleasantly warm on a frigid day. In addition, you will be able to demonstrate to the buyer that your furnace is in good working order.
· For a welcoming scent, bake cookies the day of the showing. Some people are sensitive to the fragrances in air freshener’s and perfumes, so skip spraying those when expecting someone to look at your house.
· Serve snacks in the kitchen. Give the buyer a reason to linger in your home by leaving a light snack in the kitchen. If the weather is cold, consider providing chili or soup in a Crockpot to keep it warm with festive disposable bowls. Or, to keep it simple, you can provide coffee or hot chocolate and cookies. Be sure to talk with your Central Ohio real estate agent before leaving these snacks so he or she knows they're for the buyers.
· Make your house appear warm and inviting. Turn all the lights in the house on; place warm-toned throws and decorator pillows around the living room. Put on some soothing classical or jazz music; keep the volume low enough that buyers can talk quietly to each other.

You can make your home seem more inviting this winter by using these proven techniques.

Ready to sell your home? Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Pickerington, Central Ohio, Columbus, Gahanna, Canal Winchester, Worthington, Renyldsburg,OHIO real estate

LINKS:
Ice melt: http://www.ecos.com/pages/icemelt.html
Furnace: http://www.buyfurnace.org/
Jazz music: http://www.allaboutjazz.com/

Abandoned Property Owners Beware

Neglected abandoned properties are not only an eye sore they can be havens for rodents and vagrants. Properties allowed to go uncared for has a tremendously negative impact on surrounding property values in neighborhoods.

Today on CNN I heard about a new website, called Lender Offender, which allows anyone to post pictures along with addresses of the neglected and abandoned, lender owned homes. Several lenders who own these properties have taken care of the problems just to avoid the embarrassment. Please use this site and pass it along.

If we get lucky this could have a side benefit of forcing the lender-offenders to move more quickly to move these properties versus locking the banks into long term maintenance programs.

If you are looking for Central Ohio Real Estate help please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Remember: Cell Phone Numbers Go Public Next Month

REMINDER.... all cell phone numbers are being released to telemarketing companies and you will start to receive sale calls..... YOU WILL BE CHARGED FOR THESE CALLS To prevent this, call the following number from your cell phone:

888-382-1222.

It is theNational DO NOT CALL list. It will only take a minute of your time. It blocks your number for five (5) years. You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

If I can assist you with any of your Central Ohio real estate needs please call me at 614-273-6406 or vanessa.simmons @ realliving.com

Quick-N-Easy Fix for Damaged Woodwork

Recently I went to on a pre-listing appointment and found a lovely home that looked beat up because of the scratched and damaged wood work around the doorways and the baseboards. The client has two dogs that have really done a job on the natural woodwork. Since everyone is looking to save a buck I have become the queen of low cost fixes. I shared with him a tip I received a few months ago from a handy man.

First, buy wood putty for the deep gashes, my handy man suggested Minwax. Then you will need a wood stain with a drying agent. Water based stains provide a wide range of colors and they blend will with existing treatment. Water base stains are less toxic and clean up easily.
Start by applying the putty to the deep gashes and you can follow the instructions for applying and drying time. After the area is toughly dried use a clean, dry, lint free cloth to apply the stain. Again follow the application instructions by it is as simple as wiping one and wiping off. Allow 8 hours drying time and you should have a new look to that beat down woodwork.

I have lots of low cost tips for preparing your home to get the maximum return. When you are ready to buy or sell call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

Your House Smells!!!

No matter how we may want to dance around the subject, the truth is, one of the first things people notice when they enter your Central Ohio home is the way it smells good or bad. Everyone will agree that each home has its own unique smell. As residents we often become immune to the smells in our own homes, however, when a seller is looking to impress perspective buyers it is critical to be aware of potentially offensive smells. Below are a few tips on how common household occurrences like pet stains and musty odors can be eliminated.

Identify Were the Smell is coming from:

1. If the smell is coming from an identifiable source clean the area with warm water and baking soda.
2. Sprinkle a little baking soda on the area and allow sitting and vacuuming or cleaning up after an hour or two.
3. Spray a little vinegar and water mixture on the source and dab away excess

Unidentifiable Source:

1. Open a box or two of baking soda and place in areas where they will not be disturbed (behind furniture, up high in a room)
2. Place charcoal briquettes in a container with holes in the top (good for absorbing pet smells, cigarettes smoke smells, and musty smells also helpful in absorbing moisture)
3. Utilize kitty litter to help eliminate unidentifiable sources of odor. Place in containers under furniture of in out of the way areas.

Other Items that can be used to neutralize odors are:

1. A mixture of lemon juice and water use to spritz base boards.
2. Coffee beans to absorb kitchen smells.
3. Citrus fruits to deodorize garbage disposals.

If you are looking for more cost effective tips to help your home sell call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Baking soda: http://www.greenlivingtips.com/articles/154/1/30-baking-soda-tips.html
Vinegar: http://greenliving.lifetips.com/cat/63666/alternative-green-lifestyles/index.html#tip-118349Charcoal: http://www.goodhousekeeping.com/home/heloise/odors/basement-deodorizer-oct01

Are You Ready To Own Central Ohio Real Estate?

So you made the decision that you are finally ready to buy real estate here in Central Ohio. Now What? Here are a few tips for getting the ball rolling and the most for your money:

Take a Look At Your Credit
The first thing you’ll want to do is order a copy of your credit report from the three major credit bureaus: Experian, TransUnion, and Equifax. Look for inaccuracies in:

· Name
· Address
· Creditors
· Late payments
· Delinquencies

Your Lender will be able to assist you with obtaining and reviewing the credit report.
After you’ve reviewed your credit report and know your credit score, you’re ready to make improvements to your report. You can send a written “Notice of Correction” to the credit bureaus. It can be up to 200 words. If needed, you can explain why you fell behind on a particular debt, and every time a lender accesses the report, they’ll see your explanation.

It can take several months to for your credit score to go up. However, it's well worth the effort to get a better interest rate. In the long run it could save you thousands on you Central Ohio Real Estate.

Next Stop?
Before you start looking at properties, it’s a good idea to get a pre-approval letter from a lender. The lender will take into consideration your income and credit history. Then they’ll determine what loan amount you can be approved for.

Most pre-approval letters list the maximum amount that you are approved for, not necessarily the amount you can afford. Look carefully at your budget so that you don’t get too excited about the number and get into more house than you can afford.

A pre-approval letter will give you and I an idea of what houses to look at, and no time is wasted seeing properties that you can’t afford. Prospective sellers may also give your bid more weight if you have a pre-approval letter.

Are you a first-time buyer? You have just made a fabulous decision for your future. There are tons of great buys in the Central Ohio real estate market. I'm a specialist in this area and would love to help you buy the home of your dreams. Call me now at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Pickerington, Columbus, Gahanna, Worthington, Blacklick, Canal Winchester, Reynoldsburg, Ohio real estate
LINKS:
Credit report: https://www.annualcreditreport.com/cra/index.jsp
Pre-approval: http://loanlane.com/preapprove.php
Budget: http://financialplan.about.com/

Showcase The Bathroom In Your Home For Sale

A bathroom renovation is one of the best things you can do to help sell your Central Ohio home. But, remodeling a bathroom is an expensive project, and in today's market it is not likely that the return will be worth the investment. As a realtor I am always open to looking for budget friendly ways that I can help my seller boost the bottom line. So, here are a few inexpensive changes that can be made to spruce up the bathroom in your Central Ohio Home:

Paint
A fresh coat of paint is a good way to improve the overall look of the bathroom. Choose paints in a light, neutral color to make the room seem more spacious.

Fixtures
Most buyers will notice if the fixtures in the bathroom are old, and it can have a negative effect on their view of the home. Buy a set of bathroom fixtures at a home improvement store. Most stores have matching towel racks and bathroom tissue holders, too. There is a good selection of stainless steel, wood or ceramic fixtures available at most stores.


Floors
If your bathroom floor has tiles, it’s a good idea to add fresh grout to brighten it up or at least clean the grout so it looks new. Scratched and or damaged linoleum will need to be replaced. You can buy rather inexpensive flooring that is easy to install in a variety of patterns and colors. Look for remnants.

De-Clutter
You want the prospective buyers to be able to imagine themselves living in your home. It’s easier for them to do that if your home is free of clutter. This is even true in the bathroom.
Clear out your medicine cabinet. (Yes, many buyers will look in there.) Leave only essentials like toothpaste and hairbrushes. Don’t forget to de-clutter and organize under the sink.

Clean
Nothing is a bigger turn off to prospective buyers than a dirty bathroom. A little time and elbow grease will yield big returns.

Making a good impression on buyers can be easier when you’ve redone your bathroom. You really don’t have to spend a lot of money to increase the value of your Central Ohio home for sale.

I have many more tips like this to inexpensively prepare your home so that it sells faster and for the most money. I'd love to share them with you. Give me a call today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Pickerington, Canal Winchester, Gahanna, Worthington, Blacklick, Reynoldsburg, Ohio homes for sale

LINKS:
1. Fixtures: http://www.lowes.com/lowes/lkn?action=howTo&p=Improve/UpdateBathroomFittings.html
2. Paint: http://www.swatchbox.com/paint-interior.asp
3. Clean the grout: http://video.about.com/housekeeping/How-to-Clean-Grout.htm

A Romantic Valentine's Day In Your Central Ohio Home

Valentine's Day is the perfect time to stir up love in your Central Ohio home. With the current economy, however, you may find yourself wondering how you can afford anything special. In the spirit of happy, healthy relationships everywhere, here's an inexpensive Valentine evening to keep the romance:

Romantic Dinner
Although "The way to a man's heart is through his stomach," isn't necessarily true, a romantic meal is a great way to start off the evening. Here's what you'll need:

Chicken Parmesan ($20) – Two large chicken breasts, rolled in herbs and breadcrumbs; bake for 20 minutes at 400 degrees. Melt sliced mozzarella over the top. Your favorite pasta, cooked al dente. Place the cooked chicken on a serving of pasta, with Marinara or spaghetti sauce spooned over the top. Serve with toasted garlic bread (or toast, buttered and flavored with garlic) and a side salad.

Two Candles ($5) – Candles add just the right touch to any romantic dinner, adding a soft glow to the face of the one you love.

Music (Free) – Light, romantic music dancing in the air of your Central Ohio home can wrap you and your partner in a private circle of romance. However, if rock and roll is more your style, by all means, play rock and roll! Just turn the radio to your favorite station and enjoy.

After Dinner
Valentine's Day is about spending time with the one you love. Instead of going out to a club, rent a movie and stay in. Wine (or sparkling juice), a movie and snuggling on the couch can do wonders for your love life!

Wine (Cost depends on the wine)
Sparkling grape juice ($4)
Movie ($3)

The Bedroom
Go on vacation to a fabulous hotel – in your own bedroom! By rearranging your room and matching your sheets and pillowcases, you can get that "new room" feeling (if only for the night!). Add scented candles, or potpourri and regular candles for that romantic touch.

Scented candles ($3 - $5 each)
Potpourri ($3 - $5 per package)

Buying your first Central Ohio home as a couple on Valentine's Day would be a great memory to have. If you're looking for a home, I can help. Call me at 614-273-6406, or email me at Vanessa.simmons@realliving.com

Keyword: Columbus, Pickerington, Reynoldsburg, Canal Winchester, Gahanna, Worthington, Ohio home

Links:
Candles – http://www.100candles.com/
Rent a Movie - http://www.netflix.com/
Potpourri - http://www.yankeescents.com/

Should Your Central Ohio Investment Property be a Fixer Upper?

Are you considering buying a fixer-upper in order to get a great deal on Central Ohio real estate? With the vast number of Short Sales, HUDs and REO’s in the area there is quite a selection to choose from. If you are able to make a few home improvements yourself, you may be able to save thousands on the purchase price of investment property.

Several things are important to think about before you buy that fixer-upper. The first is the condition of the house. Some repairs are so expensive and difficult to make that you might not be able to recoup your initial investment. Basic repairs that you can reasonably expect to complete are:

· Removing old wallpaper, patching the walls and painting the interior and exterior.
· Replacing worn-out flooring and carpet.
· Repairing any broken windows or light fixtures, including ceiling fans.

If you venture too much farther into home improvement territory, you may find that you bit off more than you can chew. As a rule, heating and central air conditioning repairs are expensive. Similarly, foundation repair and re-roofing are usually too much for the average handyman to tackle.

Other projects that are often not cost-effective are complete kitchen and bathroom remodeling and replacing the main plumbing of Central Ohio real estate. With the harsh winter we are having here many vacant properties without heat, may have busted pipes. Any improvement that involves building an addition or tearing out walls probably won’t have a good return on your money.


After you find that fixer-upper in just the right state of disrepair, too derelict to catch anyone’s attention, but without any repairs beyond your abilities, you’ll want to make sure that the location is good. If the Central Ohio real estate you're considering is near a busy highway or close to a rail yard, you may have trouble finding a buyer after you’ve fixed it up.


o get the best return on your investment, you need to find a fixer-upper with the right combination of location and condition. If you're interested in finding a great buy on investment property, call me today at 614-273-6406, or email at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Pickerington, Gahanna, Worthington, New Albany, Canal Winchester, Reynoldsburg, Ohio real estate

LINKS:
Investment: http://en.wikipedia.org/wiki/Investment
Ceiling fans: http://www.ceilingfan.com/
Bathroom remodeling: http://www.bathroom-remodeling-hints.com/Bathroom_Remodeling_Ideas.html

Easy Tips to Reduce Heat Loss in Your Central Ohio Home

You need only to step outside or peak out your window to see that cold weather is here and your Central Ohio home utility bill may be bearing the brunt of the impact from the weather. Below I will list a few simple things to reduce the amount of money you have to pay out this winter.

Your windows are the most common place that your home is vulnerable to the elements. You will be amazed at how these simple fixes will minimize energy loss around your windows:

1st Find The Source Of The Leak
In order to know where repairs need to be made, you have to find the source of the leak. One way is to feel for drafts along all the seams of the windows. If the leak is too small to be felt by your hands, you can hold a candle near each window. When the flame changes, you've found the leak.

2nd Seal the Windows
You can use silicone caulking to seal the seams of the window. Silicone caulk can be found in most Central Ohio home improvement stores. You’ll need to buy a caulking gun to apply the silicone.

To use a caulking gun, you simply insert the caulk into the gun. Slice off the tip of the caulking tube, and gently squeeze the handle to push the caulk out. Maintain an even pressure as you apply the silicone caulking. This way, you’ll get a thin even line of caulking.

If you have old, wood or aluminum windows you may need to seal the window off completely with plastic. Fortunately, you can buy plastic sheeting with double-sided tape already attached from any hardware store. To apply the plastic to your windows:

· Clean the windows with warm soapy water.
· Measure the window and precut the plastic.
· Remove the non-stick backing off the tape. Attach it along one corner of the window. Continue applying it to the rest of the window.
· Use a blow-dryer to shrink any wrinkles in the plastic.

By insulating the windows in your Central Ohio home you can help guard against cold weather and high utility costs this winter.

Thinking of buying a new home? Let me help you find a well-insulated home that will keep you warm without breaking the bank. Call me today at [phone] or email me at [email].

KEYWORD: Pickerington, Reynoldsburg, Gahanna, New Albany, Worthington, Columbus, Canal Winchester, Ohio home

LINKS:
Energy loss: http://www.energy.gov/
Caulking gun: http://en.wikipedia.org/wiki/Caulking
Wood windows: http://www.lowes.com/lowes/lkn?action=categorySelect&Ne=4294967294&category=Windows&N=4294949049

The Do's and Don'ts of Putting Your Central Ohio Home for Sale

If you're putting up your Central Ohio home for sale, you're probably thinking about what you need to do to get it sold. Here is a list of do's and don'ts to help you along your way:

Do's

DO be prepared to have pictures taken of every room of your house. Research has shown that buyers searching online want more not less photos of homes.
DO clean, clean, clean. What may look like "family clutter" to you may also turn the buyer off.
DO replace hinges that are broken or worn, tighten doorknobs, etc. Buyers going through the house will open doors and cabinets. Having a doorknob come off in your hand is a definite deterrent to buying.
DO fix cracks and watermarks. You don't want to give potential buyers the idea that you still have plumbing problems.
DO take the time to stage your Central Ohio home for sale. This can significantly shorten the time it takes to sell, as well as raise the asking price.

Don'ts

DON'T spend a lot of money on major upgrades unless you have to. While you may have to replace a water heater that's trying to quit, you don't have to replace a carpet - just get it cleaned.
DON'T be stuck on one price. The real estate market changes constantly. Having a set price may get your home stuck on the market.
DON'T use your tax appraisal as an estimate for your home's value. Compare your home to those in the neighborhood that have sold for a better estimate.
DON'T pack until the sale is complete. If you absolutely have to, pack smaller things and hide the boxes.
DON'T follow the potential buyers through the house. This can cause them to feel they need to move through quickly, which lessens the chance of them buying. If at all possible, DON’T be home for showings.

Putting up your Central Ohio home for sale can be hard, especially if you've lived there for a long time. However, following these tips can help make the process a little easier.

When you're ready to sell your home, I can help you prepare it so it sells faster and for more money. Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com


KEYWORD: home for sale Reynoldsburg, Gahanna, Pickerington, Canal Winchester, Columbus, Worthington, New Albany, Ohio

LINKS:
Replace hinges - http://www.acehardware.com/sm-installing-hinges--bg-1299656.html
Staging - http://en.wikipedia.org/wiki/Home_staging
Water heater - http://www.lowes.com/lowes/lkn?action=howTo&p=Improve/InstallWatHeater.html

How Will Loan Modification Affect Your Central Ohio Home Mortgage?

Perhaps you are upside down in your Central Ohio home mortgage, if so, you may qualify for a loan modification that will reduce your monthly payments. Even if you have an adjustable rate mortgage, you may still get approval to modify your loan.

Most lenders would rather work out a loan modification instead of starting the foreclosure process. This is because there is considerable expense involved in foreclosing on a Central Ohio home.

What types of loan modifications are available to you? Most lenders have many programs that will help you avoid foreclosure, such as:

· Forbearance. Your current loan payment is suspended for a pre-determined amount of time to allow you to catch up on past due amounts.
· Forgiveness. Sometimes a lender will forgive or cancel part or all of the past due amount. You can then start making your regularly scheduled payments as agreed. When the lender writes off part of your mortgage debt, it may have a negative impact on your credit score.
· Refinancing. You may have the option to refinance your mortgage loan, including the past due and late fees, into the new principal of the loan. This will help you avoid more damage to your credit score. Depending on the equity in your home, you may receive money back when the loan closes.
Loan modification programs may help save your home from foreclosure and protect your credit rating. One program, HOPE for Homeowner’s, doesn’t have credit score requirement. It does mandate that:
· The home is the primary place of residence and the homeowner can’t own any other property.
· There was no fraud in the loan documentation and the homeowner can’t have been convicted of fraud in the past ten years.
· The mortgage payments must exceed 31 percent of homeowner's gross income. There must be documentation that the homeowner can’t afford to pay the mortgage any longer.

If the lender is willing to reduce the payoff amount on your Central Ohio home, this program may be ideal for your situation.

Foreclosures and short sales are areas of specialization for me so if you have additional questions please feel free to call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com

If you'd like more tips like this one, please subscribe to this blog. You'll automatically receive free real estate and home maintenance tips in your inbox about twice a week.

KEYWORD: Pickerington, Canal Winchester, Worthington, Gahanna, Reynoldsburg, Columbus, Ohio home

LINKS:
Adjustable rate mortgage: http://www.federalreserve.gov/pubs/arms/arms_english.htm
Foreclosure: http://www.investordictionary.com/definition/foreclosure.aspx
Credit score: http://www.equifax.com/home/

Is Your 2009 New Year’s Resolution to Sell Your Central Ohio Home?

If your New Year's Resolution is to sell your Central Ohio home, I would like to share a few simple changes to improve the value of your home and get it ready to sell.

With the buyer in mind, take a tour of your home, making a list of the good, the bad, and the not so bad. The Central Ohio real estate market will not permit you to invest in major renovations before selling your home. You simply won't get your money back out of large projects. Instead, your goal is to spend a little money to make the good areas eye-catching and fix the rough areas.

Here are a few of my suggestions for getting your home “buyer ready:”

Landscaping:

The first thing a buyer notices is the outside of your Central Ohio home. First impressions are very important. You’ll want to trim the bushes and rake the leaves to make the house seem more inviting. This time of year you want to make sure the snow is removed from the walks and drive way as much as possible.

As spring approaches, you want to evaluate your wood porch or deck to make sure it is not looking a little run down If needed, buy a couple of cans of outdoor stain’n’seal and give it a few coats. It will instantly brighten up the front of your house.

Note: I cannot tell you how often realtors will share stories about driving up to a house and having a buyer refuse to go into a home. First Impressions Matter!

Your Home’s Interior:

Most real estate experts will agree that sprucing up the bedrooms, the bathrooms, and especially the kitchen can really improve the value of your home. Let’s start at the beginning of the list:

· Bedrooms: Paint the walls of the room a light, neutral color to really open up the space. Replace any old light fixtures with new modern ones and consider adding a ceiling fan to each bedroom to increase the room's appeal.

· Bathroom: If your tub has seen better days, have it resurfaced. Or, if you're handy, you can resurface your bathtub yourself.

· Kitchen: The kitchen might also benefit from sprucing up. Do not gut renovate your kitchen. Today's real estate market won't give you back the money you'll spend to do this. Instead, refinish the cabinets and install new handles. You could also put in a new backsplash, if needed.

If your New Year's Resolution is to sell your home as quickly as possible and for the most money, call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Pickerington, Gahanna, Worthington, Reynoldsburg, Canal Winchester, Ohio home

LINKS:
1. Resurface your bathtub: http://ezinearticles.com/?Bathtub-Resurfacing---Doing-It-Yourself&id=545158 2. Stain’n’Seal: http://www.lowes.com/lowes/lkn?action=howTo&p=LawnGarden/ClnSealDk.html

3. Paint: http://www.behr.com/behrx/workbook/index.jsp

Central Ohio Real Estate Agent or REALTOR®?

Looking for your Central Ohio dream home can be a daunting process. That’s why most folks will choose to get a real estate professional to guide them on their journey. Picking the right person is important when you’re looking to get a great deal on a home, so you need to know what to look for.

There is some confusion about the difference between a real estate agent and a REALTOR®. A REALTOR® can be any real estate professional who is a member of the National Association of REALTORS® (NAR). Each member has to follow a strictly enforced code of ethics.
The seventeen part code of ethics details the Standards of Practice that each REALTOR® must follow. These include:
· Promising to put the interests of all parties before their own, by honestly representing all material facts.
· Promising to work with other agents or brokers, if it’s in the best interests of their client.
· Promising to tell if they or any family member have a vested interest in any transaction.
· Promising to follow the Standards of Practice, including never combining their money with a client’s money.

Hiring a professional Central Ohio real estate agent can take the hassle and guesswork out of buying and selling a home, and finding one who is also a REALTOR® can be an added bonus. They can help you find financing and handle the intricate paperwork involved in any real estate transaction.

Before hiring any real estate professional, ask for their references. Interview several before deciding which one to chose. An experienced real estate agent can make the difference between getting a good price and getting a great price.
As a professional Central Ohio real estate agent and REALTOR®, I can guide you safely and profitably through your real estate journey. Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Pickerington, Canal Winchester, Gahanna, Reynoldsburg, Worthington, New Albany, OH real estate

LINKS:
National Association of Realtors® (NAR): http://www.realtor.org/realtororg.nsf/pages/AboutREALTORS?OpenDocument
Code of ethics: http://www.realtor.org/mempolweb.nsf/pages/code
Financing: (link to section on your website about mortgage or preferred lenders or use this link) http://www.hud.gov/ll/code/llslcrit.cfm

Can You Stop Foreclosure On Your Central Ohio Home?

If you're looking at hard times, and have fallen behind on your mortgage payments, you may already think it’s too late to save your home from foreclosure. But rest assured, you can take steps to keep your home and stop the process.
· One of the most important things to do is keep the lines of communication open with your lender. Most lenders would much rather avoid foreclosing on your home. If you call your lender as soon as you miss a payment, you may be able to qualify for a forbearance, which could cancel the payment that you are unable to make. You are unlikely to receive forbearance more than once, so make sure that you will be able to start making payments at the time the forbearance runs out.
· Of course, the simplest way to avoid foreclosure is to pay the total amount owed, including all the attorney’s fees. But, you probably wouldn't be worried about foreclosure if you were able to do that.
· If you are not able to make payments to get caught up, you still have one final option to keep your home. In some cases, filing bankruptcy can stop the foreclosure process. If your home doesn’t have a lot of equity built up that could be used to pay off your debts, the courts may allow you to keep your home. The past due and current mortgage payments are included in a payment plan designed to get you out of debt in three to five years. The decision to file for bankruptcy protection should not be made without consulting with a lawyer

If the foreclosure process can’t be stopped, you still have the opportunity to keep your home. You have until the actual day of the Sherriff’s Sale of your Central Ohio home to pay up what you’re behind, or make arrangements to be caught up on your loan.
After the sale, you enter a redemption period, during which you can get your home back if you’re able to satisfy the terms of your lender. Here in Ohio the redemption period is 8 months.
Do you have other real estate related questions? I'm happy to answer them for you. I am an expert in this area. Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com
KEYWORD: Reynoldsburg, Columbus, Gahanna, Worthington, Pickerington, Canal Winchester, New Albany, Ohio homes
LINKS:
Foreclosure: http://en.wikipedia.org/wiki/Foreclosure
Forbearance: http://www.fiscsolutions.com/forbearance.php
Bankruptcy: http://www.uscourts.gov/bankruptcycourts.html

What Kind Of Down Payment Will You Need For Your Central Ohio Real Estate?

Chances are, if you’re going to buy Central Ohio real estate, you’re going to need a loan. Traditional lenders prefer a down payment of twenty percent. When you’re looking at a $200,500 house, which is the national median sales price according to the National Association of REALTORS®, that can be a lot of money to come up with at once. The good news is that there are some options for you, if you can’t afford such a large down payment. (Check out my website for even more information on Down payment assistance).

FHA
When purchasing using FHA the required down payment is 3.5%. In years past some folks stayed away from FHA due to the many restrictions and the PMI (Private Mortgage Insurance), however, recently, FHA has made headway in becoming more users friendly and much more competitive. FHA has also retooled their lending thresholds.

Private mortgage insurance is paid as part of your monthly mortgage payment. You’re required to pay for it until you’ve reached twenty percent equity in your house. In some cases, it will be canceled automatically, but check with your lender to be certain it's canceled.

The 80/20 Option
Some lenders will offer an 80/20 mortgage option. It means that you take out two loans, one for eighty percent of the [city] real estate price, and a higher interest loan for the other twenty percent. Taking out this kind of mortgage means that you won’t have to come up with a down payment.

The 100 Percent Option
There are lenders that offer 100 percent mortgages. They’re a little harder to get these days because of the recent credit crunch. There’s no down payment needed, but the interest rate is far higher. Because the lender is at a greater risk of loss from default on this type of loan, you will be required to carry private mortgage insurance (PMI).


Why Wouldn’t I Want A No-Money Down Loan?
A no-money down loan means higher interest rates and higher payments. It’s harder to find a lender that offers this type of loan. Generally, the more money you put for a down payment, the higher loan amount the lender will offer. If you don’t put any money down on the house, you’re likely to get approved for a smaller loan amount. You may have to settle for a house that is less than you wanted.

Why Buy Now?
In recent history, there's never been a time as perfect as this to buy real estate here in Central Ohio. With interest rates at the lowest they've been in decades, and the price of houses the lowest they've been in years, you'll be able to get much more for your money.

Let me help you find a great house and negotiate the best price and terms for you. Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Reynoldsburg, Canal Winchester, Pickerington, Gahanna, New Albany, Worthington, Ohio real estate
LINKS:
1. Down payment: http://www.nolo.com/definition.cfm/term/FF59FEA0-C558-4703-8F70C42FE3CA7A7E
2. Credit crunch: http://www.teachmefinance.com/Financial_Terms/Credit_Crunch.html
3. Private mortgage insurance: http://www.frbsf.org/publications/consumer/pmi.html
4. FHA Q&A: http://www.fhaoutreach.gov/FHAFAQ/
5. Vanessa’s Site: http://www.herrealtors.com/vanessa.simmons/