Central Ohio Real Estate Info.

Why is My Home Not Selling?

2009-04-09T05:51:00.000-07:00

Other than the fact we are in a difficult market here in the Columbus area as with much of the country there often are other factors that can prevent homes from selling. Believe it or not there are a couple of quick and easy fixes that can be done to enhance your homes sellability.
Often times when folks think of selling they may do a little research online and determine that it is cheaper to go it alone and make the decision to stick a sign in the yard and post their home on a few sites. They fail to fully understand that in this market it is often imperative to partner with a professional who can help you with the right help to help sell your home. A couple of easy fixes include:

Spruce Up

Spruce up and keep it neat and clean are the first tips most agents will share with you. Noting will derail a real estate transaction quicker than a messy unkempt home. It can be difficult and inconvenient to live in a property and sell at the same time, especially when there are children involved. However, dollar for dollar nothing you can do will compare to the return that a little elbow grease and extra effort do for your bottom line. There are tips that you can use that will help you to learn ways to clean your home quickly for those unexpected times that you will get the call to show your home in 30 minutes or less.

Good Images are Key

Newspapers and print materials used to be the primary place folks went when they wanted to began their home search. Cost and space limitation generally limit newspaper and magazines listings to one photo. The photo is usually small and may not highlight some of the best features of the home.
Today most folks began that search online. A full 80% of today’s buyers start their online. Research shows that the average buyers expect to see an abundance of online images. The more the better and virtual tours are a plus. There are lots of tips to help you if you aren't experienced at getting good room images that can highlight your home’s assets but if necessary work with your agent to bring in a professional that can capture your home in a way that will enhance its marketability. Basically, it is imperative that for your home to get maximum exposure, to the greatest number of buyers, your home needs to be online in as many places as possible.

In this market there are lots of potholes in the sales process. You need to partner with a Realtor® who can help you maneuver around the potholes and assist you through a smooth transaction from start to finish. Call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

LINKS:
Help to help sell your home: http://www.statefarm.com/learning/life_stages/learning_lifestages_sellinghome.asp
Ways to clean your home fast: http://www.ehow.com/how_2312344_clean-house-faster.html
Room Images: http://www.ehow.com/how_4516889_take-photos-house-sale.html

Affordable Housing Super Sunday

2009-04-06T14:02:00.000-07:00

Mark Your Calendar-Affordable Housing Super Sunday Open House

Affordable Housing Super Sunday Open House will occur Sunday April 19th, 2009.
This event is sponsored by the Columbus Board of Realtors and will feature over 200 affordibalby priced ($125,000) homes all over the central Ohio area. If you spot by to visit any participation home on 4/19/2009 you can register to win one of the following exciting prizes:

Whirlpool Stainless Steel Smooth Top Electric Range & 25 cu ft Side-by-Side Refrigerator with water & ice Dispenser courtesy Dominion Homes & Whirlpool

Wii Gaming Systems courtesy Perma View(ANDERSON Replacement Windows) & Tim Moffitt & Nancy Garrabrant, National City Bank now a part of PNC

Wii Fit System courtesy First AmericanTitle Insurance Company

This has become an annual event for the Columbus Board and gives the community an opportunity to see some great affordable homes. Mark your calendars for Affordable Housing Super Sunday Open House Sunday April 19th, 2009. A full listing of the homes that will be featured will be available in the Sunday April 19th, Columbus Dispatch and Columbusdispatch.com

If you need additional information or have any Columbus area real estate needs please call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

Other upcoming events: April is Fair Housing Month

Declutter While Having the Best Garage/Tag Sale Ever

2009-04-02T06:51:00.000-07:00

One of the surest signs of spring right up there with the time change and warmer weather is the return of Garage/Tag Sales. Here are a few tips to help insure that you declutter while having the best sale ever just remember: HOM AD.

· Have everything clearly priced and affordable. Garage/Tag sale shoppers are looking for a bargain keep that in mind as you determine prices. Label items individually or decide on an easy pricing system. Some chose to color code with stickers i.e..Blue items .25, Red .50 or Yellow items $1.00.

· Organize early. Its best begin organizing weeks prior to your sell. Start boxing up items for the sale. Use the 1 year rule and ask yourself: Have I used it, worn it or looked for it in the past 12 months. It the answer is no it goes. Provide original packing and instructions if possible. Pricing items early as you identify and pack them away will only help save time later.

· Make plenty of signs leading traffic to your Columbus area sale. If they cannot find you they will not come. Be mindful of rules but where possible post signs and attach balloons, streamers or what every will make your sign eye catching to passing motorist.

· Advertise your sale in local newspapers and online. Advertising is the key element to whether or not you have a successful sale. Ideally you want to have your ad run in local papers in the morning of your sale to catch those who start their day with a look through the paper. There are numerous sites that where you can advertise your sale for free, one such site is Garage Sale Tracker and Craig’s List. Contact me if you would like to advertise your sale on my blog or website.

· Donate leftovers. Make yourself a promise that no unsold items will be returned to your house. After your sale, box up all items and take them to a drop off box for charity. You will be doing a good deed for others and keeping your commitment to declutter.
With these tips, you're well on your way to having your best garage sale ever.

Want more money saving ideas like this one? See:
Drab Kitchen Make-Over…On a Budget
Your House Smells!!!
Quick-N -Easy Fix for Beat Up Woodwork....

Ready to buy or sell your Columbus area home call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com

New Construction Still Needs Attention

2009-03-30T05:34:00.000-07:00

With the recent rise in new constructions it is a great time to review some new construction basics regarding warranty. Contractor Problems are one of the largest numbers of complaints received by the Better Business Bureau. These types of stats makes it important that you are knowledgeable and informed about how to insure that your Columbus area home remains the dream that you fell in love with, and does not become your worst nightmare. Listed below are a few things to pay attention to in order to make sure your contractor doesn't end up as your complaint:

Understand what your Warranty Covers

Basically there are two types of warranties. The first is called an express warranty, and is given to the buyer by the contractor. The usual time frame for this warranty lasts between one to ten years, with one year being standard and the most common. Everything from minor cosmetic flows to major defects is generally covered.

An implied warranty that lasts seven to ten years and basically states that the residence has to be habitable. This is the second type of warranty and the specifics can varies depending on the state you live in. To have your defect covered by this warranty, you have to be able to prove that it's a health or safety hazard. If you have concerns in this area it is advised that you seek an attorney that can interpret the legal process and remedy...

Not All Defects are ‘Defects'

Not all defects are reasons to sound the alarm. There are specific rules that determine whether or not a defect qualifies as something that must be addressed. An example would be a small crack in the interior of your new Columbus area would be considered to be a normal defect. Cracks that would need to be repaired are those longer than 3/16 of an inch, according to the National Association of Home Builders'® guidelines for performance. Although pesky, hammer marks or nail pops only count if you can see them from more than six feet away.

Document Document Document

After a real defect has been identified, document everything. Keep a log and take photos. Ideally this will be smoothly worked out by your builder but if it is not you will need your documentation should you decide to pursue other actions. For added peace of mind, you may want to hire an independent inspector or structural engineer, to give your house a full examination prior to closing and moving in.

Buying Brand New Columbus Area Home can be enjoyable when you work with a REALTOR® like me who has the knowledge and experience to guide you through the process. Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

LINKS:
Implied warranty - http://www.legalmatch.com/law-library/article/implied-warranty-real-estate-contract-lawyers.html
National Association of Home Builders - http://www.nahb.org/
Contractor - http://en.wikipedia.org/wiki/General_contractor

For More Home Buying Tips See:
First Time Buyer... Please Read...

Why the Stimulus Makes this a Fantastic Time to buy Real Estate

2009-03-27T04:48:00.000-07:00

There are great incentives for first-time Columbus area real estate buyers. Big tax incentives and money put into the banking and financing industries to give buyers more availability to loans makes now the best time to move when looking for a home. This environment won't last—exactly. Some of the elements put in place are geared toward a strong future for the housing market, but many of the advantages are only good for now.

Tax Relief

First-time Columbus Area real estate buyers, meaning those who have not owned a home in the past three years, are eligible for a big tax break on income taxes. Next year at tax time all buyers have to do is report the new home purchase to get $8,000 dollars back. That's a big incentive. The drawback is it’s only good for this year. It is retroactive to the beginning of 2009 so even if you have already bought that home you can still claim it, but if you drag your feet hoping for better mortgage financing, or just a better time for your family to get a new home, you will miss out after December 31, 2009.

OHFA

The Ohio Finance Authority has decided that as of March 30th, 2009 buyers who qualify can use their $8000 stimulus tax incentive to help with down payment and closing costs. This will allow more Columbus area buyers the opportunity to take advantage of the outstanding inventory of homes available. This program is scheduled to run through November 2009, however, funds are limited so don’t miss out.

Affordable Housing

Right now is the time to buy because of prices, too. Thanks to the failings of the housing market, there are tons of homes for sale at prices they would not normally be listed at. If the stimulus plan improves the economy the way it is hoped it will, that won't last. This week there has already been signs that home sales are on the rise. That's great news for homeowners, but not great for those who wait to take advantage of the greatly reduced home prices.

Columbus area real estate buyers need to take advantages of all that 2009 and the current real estate market have to offer. There are great deals that may never happen again—Do not miss this golden opportunity to grow your personal net value.

If you’re interested in taking advantage of the 2009 stimulus plan or have any other real estate concerns, I can help. Call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com for more information.

LINKS:

Big tax break on income taxes: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit
Mortgage financing: http://mortgage.freedomblogging.com/2009/02/18/obama-mortgage-rescue-promises-75-billion-in-aid/6767/

Ohio Finance Authority: http://www.centralohiorealestatecafe.com/post/1002788/-8000-dollar-tax-credit-down-payment-assistance-hurry-limited-funds

Stimulus plan: http://centralohiorealestateinformation.blogspot.com/2009/03/how-stimulus-bill-can-help-you-get-your.html

$8000 Dollar Tax Credit = Down Payment Assistance Hurry Limited Funds!!!

2009-03-26T03:21:00.000-07:00

The following information was obtained from a Countrywide Loan Officer. I have confirmed this with several lenders. This is One of Two New OHFA Programs that offers Columbus, Central Ohio and the rest of Ohio options for down payment assistance and incentives to help folks get excited about home ownership in 2009....

Homebuyer Tax Credit Advantage Program Effective Date: March 30, 2009The Homebuyer Tax Credit Advantage Program offers a second mortgage to borrowers who obtain a first mortgage through the OHFA First-Time Homebuyer Program.

In order to encourage first-time homebuyers to enter the market in 2009, the program will allow OHFA first-time homebuyers to leverage the benefit of the federal first-time homebuyer tax credit for down payment and/or closing costs. The American Recovery and Reinvestment Act of 2009 amended and extended the first-time homebuyer credit to include purchases closing between January 1 through November 30, 2009. For qualified first-time homebuyers who purchase a home in 2009, the maximum credit is $8,000 and can be claimed on a buyer's 2008 or 2009 federal tax return.

The loan may be up to three percent of the purchase price.

No cash back may be issued to the borrower.

Principal and interest payments are deferred until July 1, 2010 after which, loans will amortize over 15 years at an interest rate 1% above the first mortgage rate.

The OHFA application fee will be $300 and can be paid by the buyer, seller or financed in the loan.There is an incentive for early repayment of the loan.

If the loan is paid in full prior to July 1, 2010, OHFA will forgive $300 of principal.

Lenders may charge a special processing fee of $75.All loans must be recorded as second mortgages using OHFA note and mortgage documents.Borrowers must have a minimum 600 credit score.

Borrowers must complete homebuyer education through a HUD approved counseling agency or through OHFA's streamlined program.

Program will run until 11/2009 or until funds are exhausted.

OHFA website: http://www.ohiohome.org/

Call me for more details or if you are ready to take advantage of this exciting NEW program for Columbus and Central Ohio Buyers. (614)273-6406 or email vanessa.simmons@realliving.com

Sweet 16...The Ohio State Universtity Lady Buckeyes

2009-03-24T05:26:00.000-07:00

If you missed the Lady Bucks Last night you missed quite a game. It was a small crowd of only 4824 in Downtown Columbus's Nationwide Arena (Home of the Columbus Blue Jackets), the arena's capacity for basketball is 19,500.

Never the less it was a game to remember. In this round two of the NCAA Tournament the Bucks played awesome defense and was able to break away from Mississippi State, in the closing minutes to pull out a 64-58 victory. Now the Lady Buckeyes are in the Sweet 16 for the second time in the the 7 years Coach` Jim Foster has been with OSU.

California Bound..... Game day will be Saturday at either 9 or 11:30 p.m.

Go BUCKS!!!!

Girls Basketball... Like Watching Paint Dry.....

First Time Buyer… Please Read…

2009-03-23T04:30:00.000-07:00

What an exciting time to be a 1st Time home buyer. Everything is on sale and your rich Uncle Sam is going to give you a tax credit of $8000 dollars as an incentive to stop renting and go out and buy your dream home.. However, before you rush off to take advantage of that credit take a second to review the tips and advice here.

Do Your Homework
When you are looking through homes they all look great just ask anyone who has done a home search, Often after you close and move in things still look pretty good and then you start to notice the “little” things. You start to question how you could have totally over looked this and that. There may be things that you knew to be on the lookout for but somehow were missed each time you walked through. This is why it is so important to have your Central Ohio home thoroughly inspected by a professional home inspector.

Avoid Last Minute Surprises
Issues with Title can not only cause you heartburn on closing day they can totally derail the transaction and cause you to be without a home. I was recently made aware of a situation where a couple sold their home and had to move out so that the new owners could move in. The couple had title issues with their new home and was forced to find somewhere else to live until the title issues were resolved. Title is not the sexiest part of the home buying and selling process to think or talk about but it is a vital part and by working with your agent you can find a reputable title company that can help you avoid any last minute surprise during the home closing process.

Don’t be a Victim of Rookie Mistakes
Outside of the typical problems that will likely be uncovered by a good home inspection there are a few typical first time buyer mistakes that you will want to avoid, a few of which include:

· Underestimating the cost of fixing up an older home.
· Failing to negotiate better terms and conditions.
· The full impact of a long commute and how to decide how far is too far.

You want your home buying experience to be exhilarating, fun and exciting and it will be providing you work with professionals that can help you avoid costly mistakes.

Whether you need a recommendation for a professional lender, home inspector or contractor for your Central Ohio property, I can help. Call me at (614)273-6406 or email me at Vanessa.simmons@realliving.com

LINKS:
$8000 Stimulus Plan: http://centralohiorealestateinformation.blogspot.com/2009/03/how-stimulus-bill-can-help-you-get-your.html
Professional home inspector: http://www.ashi.org/
Home closing process: http://homebuying.about.com/od/buyingahome/qt/101107_homclose.htm
First time buyer mistakes: http://www.realtor.org/rmosales_and_marketing/handoutsforcustomers/handouts/buyer12

Is Flipping Dead In 2009?

2009-03-19T05:08:00.000-07:00

Absolutly Not—providing you have realistic goals and know what you are doing flipping homes can still be a profitable endeavor in 2009. This does not mean you need to be a financial genuis. The truth is that the majority of folks flipping homes are every day Joes and Janes like you and me. Being a rocket scientist, is not a requirement but you do need to be much smarter than you used to be to be able to make money flipping a Central Ohio property in 2009.

Think Conservitive

Not in the political sence but as a general practice from start to finish. With Market conditions being what they are there is little room for error. Purchasing as low as you can, holding down costs of home repairs and improvements, selling at a reasonable price and keeping your focus on getting rid of the property quickly is essential in having a successful flip in 2009.

Keep Realistic Expectations

Unlike times past, in today’s market it may be unrealist to think that you will be able to move a property a few weeks after completion. Of course working with your realtor you should be able to get comps and information that can help you gage probable selling timeframe. Being able to obtain manageable financing rates will be key should you need to float payments until the property sells.

Greed is Not Good

No matter how tempting it is to price a property flip at the highest amount that the community will afford, it must be resisted. In today’s slow market that would most likely be a recipe for disaster. The only thing you will succeed in is prolonging the sell of the property. In and Out as cost effectively and quickly as possible is the key. Granted this may not be as quickly as in days past but it still needs to be the motto by which you operated. Making a profit is the ultimate goal for your Central Ohio Flip, however, margins are likely to be a little tighter in today’s market.

Reflections from the Past

Flipping properties 2,4, 5 even 10 years ago was not a whole lot different than it is today. Then as now property flipping was a high stakes game of reward and risk profitable only to those who understood and respected the rules and limits. A few years ago one could error and bounce back today the consequences of mistakes can be much harder to recover from.
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Ready to make a profit flipping a Central Ohio Property or have other real estate needs, give me a call at 614-273-6406 or email me at vanessa.simmons@realliving.com.

For More Home Buying/Selling Tips See:

Should Your Central Ohio Investment Property be a Fixer Upper?

Drab Kitchen Make-Over…On a Budget

Quick-N -Easy Fix for Beat Up Woodwork....

Showcase The Bathroom In Your Home For Sale

Fake HUD Site

2009-03-16T05:00:00.000-07:00

Beware that fake websites are popping up with the intent of gathering your contact information. An example of such a web site is bailout.hud-gov.us/ .

Please note that this is not an official government site, even though it has official looking photos and a government looking seal. Paging through this site even shows that they included a consumer alert tab that warns of fraudulent websites.

There is absolutely no connection to HUD. Their disclosure page reveals that they are, "....a for profit business....." Consumers beware.

If you are looking for assistance with Central Ohio Real Estate including HUD properties, please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

For More Information on HUD Properties Please See:

How To Purchase A HUD Home...

How Does HUD's $100 Down Program Work?

Hey Good Neighbor...

I Won the HUD Bid But....(I don't want the house)

I Won the HUD Bid But….(I don’t want the house)

2009-03-12T04:42:00.000-07:00

A few months ago my I had a client that was 3 days away from closing his HUD property when we realized that all the copper was stripped from the property. HUD made the decision to issue a credit to my client versus replacing the plumbing. My client decided to walk from the deal. After filling out the appropriate form and waiting 3 weeks, I was notified by HUD that I could return my clients earnest money.

This was an example of successfully getting Earnest money back from HUD. .

HUD does offer some great deals and opportunities but like any other government entity it can be slow and cumbersome. It is important to work with an experienced Agent who knows the process and can assist you in getting your bid and paperwork correctly submitted to better insure a smooth closing. Changes can be made…….At a cost!

If you change your mind on the purchase without an acceptable reason you could forfeit all or a portion of your earnest money.

HUD Cancelations/Extensions

HUD automatically cancels contracts that do not close on the date indicated on the original contract. Extensions are granted on a case by case basis but must be requested I writing, on the correct form, at least 5 days prior to closing. The fees for the extensions are as follows:

$150 .00 for properties $25,000 or less
$225.00 for properties $25,001 -$50,000
$375.00 for properties $50,001+

For more information on HUD homes see: How To Purchase A HUD Home... OR How Does HUD's $100 Down Program Work? OR Hey Good Neighbor...

If you are looking to purchase a HUD property or have other real estate questions please call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Hey Good Neighboor

2009-03-11T04:57:00.000-07:00

Are you a teacher, firefighter, law enforcement officer or emergency medical technician if so than HUD may have the deal of a lifetime for you?

Research shows that professionals who work in the above mentioned areas tend to have a stabilizing effect on neighborhoods. HUD rewards these tireless individuals with the opportunity to acquire specific properties for up to 50% of the appraised value.

Program Highlights:

· Homes can be purchased with FHA, VA, Conventional and Cash.
· Down Payment is only $100.00
· Closing costs can be financed
· Owner/Occupant
· Owner must reside in property for a min of 36 months
· Regular HUD earnest money requirements still apply

More good news is that this program is available in several states. If you know a teacher, firefighter, law enforcement officer or emergency medical technicians outside of Ohio, let them know about this program. For more details on this exciting opportunity CLICK HERE

Need More Information on HUD Properties… check out:

How To Purchase A HUD Home... AND How Does HUD's $100 Down Program Work?

If you are ready to purchase a Central Ohio HUD property or have other real estate concerns please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

How Does HUD's $100.00 Down Payment Work?

2009-03-10T04:41:00.000-07:00

Ohio is one of the states where HUD is still offering consumers their $100 dollar down program but many folks are confused as to exactly how it works.

First it is important to know that the program is for owner/occupants only.

Next it is important to note that the program only applies to FHA Loans.

The components are as follows:

•1. $100.00 dollars down applies to the down payment only. ***Key point to keep in mind...-even with this program the $1000.00 earnest money deposit is still due within 48 hours of winning a HUD bid. The $100 down payment replaces FHA's required 3.5% down payment.

•2. As of Cot. 1st 2008 until further notice the buyer will receive a $2500.00 Sales Incentive which can be used for:

•a. Closing Costs
•b. Tax-Probations
•c. Repairs to the home
•d. Replace items in the home
•e. Additional Down payment

•3. $500.00 Real Estate Broker Bonus. This is in addition to the commission the selling agent receives for the transaction.

For more information about purchasing HUD homes see: How To Purchase A HUD Home...

Looking to buy a HUD home or need other assistance with Central Ohio Real Estate call me at 614-273-6406 or email Vanessa.simmons@realliving.com

How To Purchase A HUD Home…

2009-03-09T05:12:00.000-07:00

I have had quite a few calls asking how to buy a HUD home, so in an effort to address those questions I have do decided to do a series on HUD homes. …

The best place to start the series is at the beginning with: How To Purchase A HUD Home.

Step 1. Work with your lender to find out how much house you can afford.

Step 2. Find an agent approved to place bids on HUD properties.

Step 3. Shop for your Home: Ohio, FL, NJ and NY CLICK HERE….All Others States Click HERE

Step 4. Work with your agent to submit your offer

Step 5. Get An Inspection

Step 6. Shop For Home Owner Insurance

Step 7. Close on Your New Home

With so many homes going into foreclosure HUD offers tremendous variety for first time buyers and move up buyers alike.

Please check back for the next installment offering a detailed explanation of how the $100 dollar down program works.

I am experienced in successfully selling HUD properties so if you need assistance to purchase or have additional questions about HUD or other real estate concerns, please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Major Changes At Countrywide....

2009-03-06T04:52:00.000-08:00

The information below was obtained by a loan officer with Countrywide Bank FSB. It is a list of the major changes that they are making on Conventional Loans both conforming and non-conforming in the Central Ohio Area. The source was unable to say whether or not Countrywide will be implementing these new guidelines throughout all their service areas but since our market has been tagged as “restricted” and or “soft” these changes will go into effect for all loans locked after March 19th, 2009

1) Minimum credit scores now with loans over 80% loan to value will be 700 and no longer 620

2) 2nd homes will now require 20% down on conforming loans

3) Debt Ratio's - MAXIMUM is 41% for loans over 80%, regardless of Automated Underwriting system and MI companies will NOT insure them so they have to be at 41% even or below

4) Reserves - minimum 2 months of reserves are now required and can be more based on the Automated Underwriting System

5) Cash out refinances - MAXIMUM is 80% cash out and loans that were done originally as 80-15-5 or 80-10-10 where the borrower wants to refinance both loans into 1, that is considered 'CASH OUT' and maximum is 80% loan to value

6) CONDO'S - MINIMUM 15% DOWN WITH SCORES OVER 700 & CONDO HAS TO BE FNMA ELIGIBLE

7) Interest Only Loans- Maximum financing is 80% For awhile treated like the ugly duckling this is going to make FHA EVEN MORE ATTRACTIVE AND ELIGIBLE FOR BORROWERS OVER 80% LTV WITH SCORES UNDER 700..

It will be interesting to keep watch to see if others follow suit with Countrywide..

If you are looking to purchase or sell a home in the Central Ohio Area please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Should I Stay or Should I Go?

2009-03-05T04:45:00.000-08:00

One of the biggest questions potential sellers seem to be asking lately is, “Should I Stay or Should I go?”

With the Central Ohio Real Estate Market, like most other markets, still recovering from foreclosures, short sales and bank owned properties, which continue to drag down property values, many sellers are wondering if now is the right time to sell their home to purchase a new one.

There are a few things to keep in mind. Here in Central Ohio, year end 2008 saw a 13.5% drop in inventory levels over year end 2007. Time on market showed a decrease from 108 days to 100 days.

The absorption inventory rate is another indicator of market conditions. At the end of 2008 we had 7.67 months of inventory where as at the end of 2007 we were at 8 months. Market watchers consider Central Ohio to be in balance when the inventory absorption rate is at a 6 months’ supply, over 6 months is a buyer’s market and under is a seller’s market. As it stands, we are still in a buyer’s market but it is showing improvement.

Central Ohio is teetering at an interesting point with great inventory levels, low interest rates and incredibly low home prices. Houses here offer enough variety to satisfy first time buyers and seasoned move up purchasers. We are still seeing that even if sellers lose a bit on the sell side they are more than making it up on the buy side.

So when I am asked the question….Should I stay or should I go?

I say….. Definitely GO!!!

To view the complete 2008 Columbus Ohio Residential Metro Area Analysis CLICK HERE
Thinking of buying or selling your Central Ohio Home please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Drab Kitchen Make-Over…On a Budget

2009-03-04T05:38:00.000-08:00

Ready to sell but the kitchen needs an update on a budget? There are tons of things that can be done to bring your dead kitchen back to life.

Clean:
Removing wallpaper and borders are quick ways to update the look of your kitchen.
Wipe down walls that do not need painting. Don’t forget doors baseboards and switch plates.
Clean oven, refrigerator and degrease.

Paint:
Paint is always an inexpensive way to liven up a tired kitchen. As always you want to stay with neutral colors and perhaps try out some of the new “Green “paint products.

Cabinets and Counter tops:
Change hardware on drawers and cabinets. Replace hardware or consider removing and painting for a truly inexpensive update.
To update stained or damaged countertop try laminate sheets. These sheets come in a variety of colors and styles and are inexpensive and easy to install.

Floors:
A quick easy fix for tired kitchen floors in your Central Ohio home are self adhesive vinyl tiles. These tiles can be installed over existing linoleum flooring.

Appliances:
Can’t afford the popular stainless steel or have miss-matched appliance consider painting them. Painting appliances can be an expensive fix for problem appliances.

Faucets:
If you cannot replace the entire sink replace faucets for a quick fix. Faucets come in a variety of colors and styles.

Backsplashes:
Backsplashes are a forgotten area that, if taken advantage of, can allow creativity and flare. Backsplashes can be installed quickly and easily and makes a dull kitchen look finished and polished.

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

Youngest Victims of Foreclosure

2009-03-03T03:15:00.000-08:00

We all know the toll that the foreclosure crisis has played on the economy and the housing market. There has even been much reported on foreclosures impact on pets, but what about the children?

In a recent report conducted and published by First Focus , it is estimated that 1.95 million children will be affected by foreclosure over the next two years. The report reveals some startling revelations about the impact foreclosure has on the success of school aged children:

1. Each time a child moves to a new school it takes an average of 6 weeks for them to adjust.
2. Children who move 2 times in a year are half as likely as their peers to read proficiently.
3. Children of foreclosure have a higher chance of being held back a grade.
4. Excessive Mobility reduces the chances of graduation by 50%.

Also affecting the class room, this study finds that children, who are forced from their homes, are more likely to display behavior problems and aggressive behavior. Children are just one more compelling reason to get a handle on the escalating problem of foreclosure. The long term societal implications are staggering.
To see the full report of how foreclosures impact children in Ohio and other states CLICK HERE

For foreclosure options please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

How the Stimulus Bill Can Help You Get Your Central Ohio Home

2009-03-02T05:38:00.000-08:00

There are several indications that the new stimulus bill passed by Congress will have a positive influence on the struggling housing market. If you are considering buying a Central Ohio home for the first time the stimulus plan may help make that happen.

How the Stimulus Bill Stimulates the Bottom Line

The biggest effect the stimulus plan will have on new home buyers is a tax incentive. We all want to get more money back on our tax returns and the stimulus bill has an $8,000 tax credit for first-time home buyers purchasing a Central Ohio home.

How You Qualify

In order to qualify for the stimulus tax incentive you must:
· Not have owned a home in the past three years.
· Use the new home as your primary residence.
· Have an income of less than $75,000 per person or $150,000 per couple.

No action is necessary other than reporting the purchase on your income tax filings. You must keep your home for at least 36 months in order to not have to pay back the incentive in the following tax year. If, however, you keep your new home for 36 months or longer you never have to repay the incentive.

There is no cap on return for this incentive either. Even if you would not normally be entitled to the full amount according to your taxable income level you will still receive the entire $8,000 amount in return.

Stimulating Interest on Central Ohio Home Purchases

The stimulus bill also gives first-time home buyers a chance to get into those big ticket houses. Houses with market values over $417,000 will be eligible for lower interest rates to make them more affordable. The luxury home industry has stagnated in the failing real estate market and this should give it a vital boost.

President Obama's stimulus plan is serious about improving the housing market. The bill gives people looking to buy a Central Ohio home reason to hope.

Interested in more information on how the stimulus plan can you help buy a home? Call me at 614-273-6406 or, if you prefer, email me at Vanessa.simmons@realliving.com

LINKS:
Stimulus tax incentive: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit
Primary residence: http://en.wikipedia.org/wiki/Primary_residence
Housing market: http://www.abc2news.com/content/financialsurvival/maryland_business/story/Some-Say-Stimulus-May-Get-Housing-Market-Moving/fJykJbcYAEKuO15DFO7SIg.cspx

Foreclosure Process for Central Ohio Real Estate

2009-02-27T07:02:00.000-08:00

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…..

2009-02-25T05:28:00.000-08:00

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…

2009-02-24T06:20:00.001-08:00

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

2009-02-22T18:48:00.000-08:00

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

2009-02-20T06:11:00.000-08:00

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

2009-02-19T05:39:00.000-08:00

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

2009-02-18T12:12:00.000-08:00

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

2009-02-17T07:11:00.001-08:00

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!!!

2009-02-16T06:36:00.000-08:00

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?

2009-02-13T07:32:00.000-08:00

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

2009-02-12T05:12:00.000-08:00

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

2009-02-11T08:41:00.000-08:00

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?

2009-02-10T06:49:00.000-08:00

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

2009-02-09T13:20:00.001-08:00

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

2009-02-07T10:36:00.000-08:00

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?

2009-02-06T10:59:00.000-08:00

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

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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?

2009-02-05T06:20:00.000-08:00

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®?

2009-02-04T08:31:00.000-08:00

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?

2009-02-03T06:15:00.000-08:00

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?

2009-02-02T06:50:00.000-08:00

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/

Are You Ready To Own Real Estate?

2009-01-31T10:09:00.000-08:00

You’ve finally decided you want to buy a piece of real estate. What do you do now? Below are a few tips for getting the best deal for your money:

Check Out 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

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. It can save you thousands when you are ready to purchase your Central Ohio home.

What’s Next?
Before you start looking at properties, it’s a good idea to get a pre-approval letter from a lender. I suggest you check with 2-3 lenders, no more. If you need names and numbers of lenders please feel free to give me a call. 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 your agent 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? Do you need Down Payment Assistance? 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 community 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: Columbus, Reynoldsburg, Gahanna, Canal Winchester, Pickerington, Worthington, New Albany, 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/

Getting Approval For A Short Sale

2009-01-30T06:07:00.000-08:00

If you are having trouble making the payments on your Central Ohio real estate mortgage, you may be worried about foreclosure. You don’t have to have foreclosure on your credit record for the next ten years. Your lender may accept a deed-in-lieu but usually before that agree to that they will request that you attempt to do a short sale of your property.

What Is A Short Sale?
A short sale refers to the lender accepting a discounted payoff amount, or accepting less money than due to satisfy the loan. Not all lenders will agree to a short sale. Here are some tips on how to get approved for a short sale.

Call Your Lender
Explain to your lender why you are unable to make the payments and why you should be allowed to have a short sale for your Central Ohio real estate. You may be asked to submit documentation of your financial difficulties, including bank statements and tax papers.

Send In Documentation
The lender will request that you send in proof of your income and assets. They’ll want to know if you have any money in a savings account or a money market account. You’ll have to tell them if you have any stocks, bonds or any other real estate that could be liquidated to pay off your debt.

Once you have approval to hold a short sale, you’ll still need to submit more paperwork to the lender. Your real estate agent will provide the preliminary net sheet that the lender requires. This form will show what you expect to sell the house for and what the net profit will be after all loans are paid off.

After a buyer is found you may still need to provide more documents showing the offer and a copy of the listing agreement. The lender maintains the option to refuse to approve the sale if the terms don’t meet their requirements or if your paperwork is not in order. That is why working with an agent experienced in the process can be a benefit.

A short sale may be your ticket to avoid foreclosure on your Central Ohio real estate.

Ready to work with a professional real estate agent who can guide you through the complicated process of a short sale? Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Reynoldsburg, Gahanna, New Albany, Pickerington, Canal Winchester, Ohio real estate
LINKS:
1. Deed-in-lieu: http://www.nolo.com/definition.cfm/Term/3DEC1C75-225E-4AF0-8CB7B778DB615B27/alpha/D/
2. Assets: http://www.investopedia.com/rotate.aspx?sp=0&backurl=http%3A//www.investopedia.com/terms/a/asset.asp
3. Avoid foreclosure: http://www.hud.gov/foreclosure/

Home Inspection of Foreclosure and Short Sale Homes?

2009-01-29T06:07:00.000-08:00

Home Inspection of Foreclosure and Short Sale Homes?

Since many short sales and Foreclosure homes are sold “As Is,” some people opt to forego formal home inspections, in an effort to hold down cost. If you've been thinking about investing in one of the many Central Ohio foreclosures, make sure the home you buy doesn't have major problems. However, before you spend the money for a home inspector, look at these common problem areas:

Ceilings
Usually, ceilings are made of plaster and plasterboard. While looking at the ceilings, keep an eye out for these issues:
Cracks, holes or uneven areas
Dampness or mold growth
Crumbling areas
Cracked or bulging areas

Walls
In general, walls are made of bonding plaster or plasterboard. You can look for the same problems as you would on ceilings, with the addition of a few more:
Loose skirting board
Soft, damp or rotten
Discolored decorations, blisters or other faults such as peeling wallpaper
Dangerous materials such as asbestos or gloss-painted polystyrene tiles. Asbestos can be hard to identify; if you think you have asbestos, get professional help.

Floors
No matter what material the floor is made of in the short sale or foreclosure, the structural supports are generally made of the same types of materials as other homes. Here are a few things to look for:
Uneven flooring
Movement, cracking, lifting or dampness
Loose floor covering, such as raised boards or lifted tiles
Large gaps between floorboards
Cracked or missing tiles

Plumbing
The kitchen and the bathroom may hold most of the plumbing, but some will go through the rest of the house as well. Look at the plumbing for:
Rust or leaks
Hammering or knocking pipes
Lead pipes
Improperly supported water tanks

Wiring
Faulty or old wiring can be a major hazard in any potential home. Although some wiring issues aren't easy to spot, there are signs:
Rubber cables or single-flex wiring twisted together with exposed insulation
Blackened or failing power sockets
Brittle or bare wiring
Plugs that get hot when used

No inspection should be considered finished until a licensed home inspector has come to the Central Ohio home that you're interested in. However, by using this guide, you'll only have to call an inspector once – to get a clean bill of health on your new real estate.

Want to get a great buy on foreclosed property? I specialize in this area and would be happy to guide you through the complicated process. Give me a call today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Reynoldsburg, Gahanna, Pickerington, Canal Winchester, New Albany, Ohio Foreclosures
LINKS:
Home inspector - www.ashi.org/
Asbestos - http://www.epa.gov/iaq/asbestos.html
Wiring issues - http://www.thecircuitdetective.com/faq.htm

My website to check out current short sales and HUD homes: http://www.realliving.com/vanessa.simmons/.

Keep Your Pipes from Freezing In Your Home This Winter

2009-01-28T07:54:00.000-08:00

You need to protect your Central Ohio home during cold weather. Frozen pipes can burst and cause water damage that is very expensive to repair. Here are a few things to think about before the cold weather harms your property.

Locate Your Pipes
If your pipes are located next to an outside wall, you’ll need to inspect that wall for cracks and other damage. To keep the cold air away from your pipes, thoroughly caulk all the damaged areas.

Protect Your Pipes
The best way to protect your pipes from freezing and bursting is to insulate the walls where the pipes are located. If that's too expensive, you can buy pipe jackets to cover the pipes. Pipe jackets can be made of plastic foam, wool felt, or fiberglass. They have a lengthwise split down the middle to make them easy to install.

If the area is too small for a pipe jacket, heat tape is a good alternative. Heat tape is applied to the pipe and then plugged into an electrical outlet. It can keep the entire length of the pipe warm, and can be used on faucets and valves as well.

If your Central Ohio home has pipes that are inside cabinets, it’s a good idea to open the cabinet doors to keep warm air circulating around the pipes.

When the weather is really cold, you can turn the water faucets on just slightly so water drips out. The open tap decreases the amount of air pressure that can build up when water freezes, and reduces the risk of your pipes bursting.

Drain Your Pipes
If you’re planning on taking an extended trip during the cold weather season, or if you have a vacant home, you should drain the water system. Just shut off the main valve, and turn on all the water faucets until the water stops running. When that’s done, leave one hot water faucet and one cold-water faucet open. Pour a little RV antifreeze into each drain and the toilet, and your Central Ohio home is ready for the cold weather.

If you're ready to buy a new home that is so well insulated you won't have to worry about bursting pipes, give me a call. I can help you find the perfect home to keep you warm this winter. Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Columbus, Reynoldsburg, Gahanna, Canal Winchester, Pickerington, New Albany,
LINKS:
1. 3. Protect our pipes from freezing and bursting: http://www.statefarm.com/learning/loss_prevent/learning_lossprevention_frozpipes.asp
2. Pipe jackets: http://www.plumbingrepairtips.com/insulating_pipes.html 3. Heat tape: http://www.mygreathome.com/fix-it_guide/heat_tape.htm

When Can You Buy Central Ohio Real Estate After Foreclosure?

2009-01-27T11:03:00.000-08:00

If you lost your Central Ohio real estate because of foreclosure, you probably haven't given up on your dream of owning a home. You may be scared to try for financing - afraid you’ll be turned down and embarrassed in the process.

There are few guidelines that lenders follow to determine when you’ll qualify for financing after foreclosure. Arming yourself with this information will help you overcome your fears and qualify again for a mortgage.

Foreclosure With Extenuating Circumstances
Generally, lenders will take into consideration any extenuating circumstances surrounding the foreclosure on your Central Ohio real estate. Was there a death or illness that prevented you from earning money to pay your mortgage? Did you have a job transfer that came with a steep pay cut? Were you severely injured and temporarily disabled as a result?

You can add a memo to your credit report that explains any lapses in credit worthiness to potential lenders. This report can be up to two hundred words and will be shown to all who look at your credit report.

Many lenders will shorten the waiting period for documented extenuating circumstances. The customary waiting period after a foreclosure is at least seven years. But with documentation, the waiting period can be shortened to as little as three years.

Deed-in-Lieu Of Foreclosure and Short Sale
You may be wondering what the waiting period for financing is for deed-in-lieu of foreclosure or in the case of a short sale. Fortunately lenders aren’t quite as strict if you were able to avoid an actual foreclosure sale.

The waiting period for a deed-in-lieu of foreclosure is four to seven years. If there were special circumstances surrounding the deal, you may be able to qualify in as little as two years. The lender may require a certain down payment or credit score as a condition of approval.

Getting financing after a short sale is the easiest. Generally the lender will only require a two year waiting period before they’ll approve financing.

The good news about financing after foreclosure is that it is possible. Your dreams of owning [Central Ohio] real estate don’t have to end because you’ve had a foreclosure in your past. You may just have to be a little more patient.

Whether you're ready to buy your next home or simply have a question about Central Ohio real estate, I'd love to help. Give me a call today at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

KEYWORD: Central Ohio, Columbus Ohio, Pickerington Ohio, Reynoldsburg Ohio real estate

LINKS:
1. Foreclosure: http://www.hud.gov/foreclosure/index.cfm
2. Deed-in-lieu: http://www.nolo.com/definition.cfm/Term/3DEC1C75-225E-4AF0-8CB7B778DB615B27/alpha/D/
3. Short Sale: http://www.nolo.com/definition.cfm/Term/51715E63-5BC5-4DCE-B5E96F71DFF3D5AB/alpha/S/

Welcome to My Blog

2007-08-15T04:04:00.001-07:00

Welcome to my blog. I will be focusing on Real Estate issues that are relevant to the Central Ohio Area. I do a lot of work with short sales and pre-foreclosures, there for much of the information here will be about that but I also do regular sales as well.