West Chester & Liberty Twp OH Real Estate: Tuesday Open House – March 29, 2011

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It’s Tuesday, so this must be the Tuesday Open House.

What is Tuesday Open House?? Well, it’s clearly not an “open house”. Open Houses don’t sell homes… good internet marketing does… but it seemed like a good title for this weekly blog post.

It is my way of throwing the doors open on the RealEstate-Ink.com blog and offering up a few quick articles and facts on real estate for the West Chester, Liberty Township, Beckett Ridge, Mason and Fairfield Township, Ohio areas. It is not intended to be all about homes for sale, but it will be about that some of the time…

Mortgage Interest Rates - Get PreapprovedMortgage Interest Rates:  The tax credits are gone and if you are looking for a reason to buy a home, look no further.  Thirty year fixed rate mortgages are 4.85% today.  The difference that this rate can make in your monthly payment is amazing.  Just look at this example of what these low rates really mean:

$200,000 mortgage amount @ 5.50%  =  $1135.58 monthly principal & interest payment

$200,000 mortgage amount @ 4.85%  =  $1055.38 monthly principal & interest payment

This example shows a monthly savings of $80 on your mortgage payment and this is compared to a mortgage interest rate of 5.50% which is a historically low rate itself!

 

Need Mulch? If you are preparing your home to get it on the market for salesoon,  don’t forget the curb appeal. As the old saying goes… you only get one chance to make a good first impression. So clean up the landscaping and get yourself some fresh mulch. I’m not sure that there is a better way to go than to get it from the boy scouts. They even deliver! You can just go directly to the boy scouts site right here. My mulch is being delivered in just a couple of weeks…anyone like to help??

 

 

Has the real estate market stabilized? Get your personal real estate market update and monitor home values in your neighborhood.  You’ll see homes for sale in your neighborhood right now, you’ll see detailed information on homes that have sold and best of all this personal market update will be delivered completely free and directly into your inbox with no obligation.  Get your real estate market update right now at www.HomeValuesInCincy.com

 

 

Our facebook fan page of the week is: The Cincinnati Reds  It is opening day in Cincinnati this week after all!  You can find information on the Reds, information on events and giveaways and great player information.  As of this writing their page has 314,242 fans, so I ask that you check out their fan page, become a fan and invite your facebook friends to do the same.

While you are on facebook checking out the Cincinnati Reds fan page, please visit and become a fan of our facebook page: www.Facebook.com/LowryTeamRealEstate

What is my home worth? Want to get a good idea of what your home is worth… Get your own Personal Real Estate Market Update

Searching for homes for sale?  Search all of the homes for sale in West Chester, Beckett Ridge, Liberty Township, Mason or Monroe Ohio… Search The MLS

 

West Chester & Liberty Township OH Real Estate: Big Changes Coming to FHA Loans

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Today marks the return of guest blogger Dave Scully with Evolve Bank & Trust. Dave has over 20 years as a mortgage professional in the West Chester, Liberty Township, Mason and Greater Cincinnati marketplace.

Big Changes Coming to FHA Loans Effective April 4th! by Dave Scully, Guest Blogger on RealEstate-Ink.com

All FHA 30 year loans that are assigned case numbers on or after April 11, 2011 will have an increase in the Monthly Mortgage Insurance Premium (MIP) from .90bps to 1.15bps for loans with less than 5% down.  For FHA 30 Year loans with greater than 5% down the Monthly Mortgage Insurance Premium will increase from .95 to 1.10BPS.  (BPS=Basis Points) What is a basis point?

On a loan sales price of $163,000 this will increase the Monthly Mortgage Insurance Premium by $33.  The net effect will be as if the rate is .375%-to a .50% higher in payment.

As if this wasn’t enough, effective on all FHA loans assigned case numbers after April 18th, 2001 the Up Front Mortgage Insurance Premium (MIP) on ALL FHA loans will increase from 1% to 1.25%.  This amount is always financed.

The best way to avoid the higher Mortgage Insurance Premium rates is to get out there and buy your home now!  Rates are still at near historical all time lows!  There are many great deals on homes out there! 

SEARCH WEST CHESTER & LIBERTY TOWNSHIP OHIO HOMES FOR SALE HERE!

Go out and take advantage of all 3:  (1) LOW RATES, (2) LOW HOUSING PRICES, (3) LOWER MORTGAGE INSURANCE PREMIUMS!

West Chester & Liberty Twp OH Real Estate: Home Buyers Have The Edge!

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Home Buyers Have The Edge!

According to Lawrence Yun, chief economist from the National Association of Realtors, “Home buyers over the past year got a great deal and buyers for the balance of this year have an edge over sellers.  Affordability could reach a generational high in the second half of this year because of rock bottom interest rates, helped partly by the Fed’s very accommodative monetary policy.”

Donald Trump says:  “I can’t guarantee it, but I’m pretty sure this is right now a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to that interview with Donald Trump’.”

And John Paulson says:  “If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.” – John Paulson 9/27/2010

For more reasons why now is a prime time to buy a home, contact me and I’ll send you a free eBook titled  “7 Reasons Why Now Is A Great Time To Buy A Home”

Start Your Search For Your New West Chester or Liberty Township Ohio Home Right Here!

Buying A Short Sale Property: A Mortgage Lender’s Perspective

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Today, we introduce guest blogger Dave Scully with Evolve Bank & Trust. Dave has over 20 years as a mortgage professional in the West Chester, Liberty Township, Mason and Greater Cincinnati marketplace.

Buying A Short Sale Property by Dave Scully, Guest Blogger on RealEstate-Ink.com

Buying A Short Sale ListingEvery buyer in the market wants to get the best deal. You may want to begin your search for a new home with properties that are on a “short sale”. First, let’s define what a short sale is. A short sale is when the sales price of the home is less than the amount the previous owners currently owe on their mortgage. In a short sale the borrowers are likely in the foreclosure process. Therefore the Bank must approve and sale and that is who your Realtor will be negotiating with.

Search For Bank Owned And Short Sale Properties For Sale Here

When buying a short sale you must be prepared for a longer negotiating process and closing process. As I said earlier you are dealing with the bank who must approve the sale of the property. The banks have so many short sales and foreclosures on their books that they do not react as quickly to an offer on the property. Also, the bank will allow you to do a whole house inspection, however they will require the sale of the home to be on an as is basis. I encourage every buyer to get a whole house inspection. However, on a short sale most banks will not make ANY repairs to the property.

Once your loan is approved and you are cleared to close we can typically close you within a day. However, on a short sale the bank will want to see the closing statement and review it for up to 72 hours prior to close.

They key to a successful and timely closing on a short sale is knowing what to expect and when to expect it. Personally I refer to short sales as “Long Sales” as they take a little bit longer to close due to the owner being the bank. I recommend you expect to close a short sale in 45 days instead of the 30 days that we can close a loan.

 Have a home that you need to sell in short sale?  Visit www.LowryTeam.com

West Chester & Liberty Township OH Real Estate:: Time To Buy A Home

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West Chester & Liberty Township OH Real Estate

It’s Prime Time To Buy A Home!

I just read a great eBook called “7 Reasons Why Now Is A Great Time To Buy A Home!”  It’s filled with positive, exciting information to help buyers seize the incredible real estate market opportunities available to them right now.  These opportunities are available in neighborhoods all over West Chester and Liberty Township. 

Over the next few weeks I’ll be sharing a few of the key concepts from this eBook with you here in the RealEstate-Ink.com blog.  For a free copy of this eBook, contact me and I will send it your way!

Start your search for your new home with our real estate search engine:  LowryTeam.com

West Chester Ohio Real Estate: This Month In Real Estate – January 2011

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Click Here To Search The Entire Cincinnati MLS Database Of Homes For Sale! Wondering what your home is worth in today’s real estate market? Request a market analysis here!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio