First-time Homebuyer Archives

Where Interest Rates Are Headed

December 28, 2015 by Eric Lowry

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the interest rate, the higher the monthly payment will be. That’s why it’s important to know where interest rates are headed when deciding whether to buy a home now or wait.

According to Freddie Mac, mortgage interest rates have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for interest rates to continue to rise over the next four quarters. While rates are expected to rise, it’s still important to keep in mind that interest rates are still at historic lows.

The graph above illustrates the projections of where interest rates are headed, based on Freddie Mac’s 2015 U.S. Economic & Housing Marketing Outlook. As you can see, they are expected to increase steadily over the next 12 months.

What does this mean for you? A half percent (.5%) increase in your interest rate can significantly increase your monthly mortgage payment. Based on the projections of where interest rates are headed, the sooner you buy a home the better. Waiting could cause you to wind up paying considerably more for your next home. Contact us today to evaluate your ability to buy your dream home.

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

A Complete Guide to Buying a Home

What does it take to buy a home in today’s market?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

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Connect with us on Twitter

A Complete Guide to Buying a Home

December 3, 2015 by Eric Lowry

Finding the perfect home for you and your family can be an overwhelming task whether it’s your first purchase or your fifth purchase. Buying a home involves a lot of different aspects ranging from getting pre approved and touring homes, to making an offer and getting through inspections. The best way to navigate the process of buying a home is to hire a Buyer Specialist who will be your consultant and adviser.

If you’re not quite ready to speak with a Realtor just yet, you can start with reading our complete guide to buying a home, then start searching homes in the Multiple Listing Service (MLS) where you will find all homes that are currently listed for sale. The information is updated every 5 minutes so you will never miss a new listing!

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

The Lowry Team Hires Michael Kendrick as Buyer Specialist

October 26, 2015 by Eric Lowry

The Lowry Team at Keller Williams Realty is excited to announce that Michael Kendrick has joined the team as a Buyer Specialist. Michael Kendrick is a full-time real estate professional, specializing in working with home buyers to find single family homes and condos in the Cincinnati area. The Lowry Team specializes in the Northern Cincinnati suburbs such as West Chester, Liberty Township, Mason, Fairfield, Monroe, and the surrounding areas.

Michael has a degree in Communications from Northern Kentucky University and has lived in the northern suburbs of Cincinnati since graduating in 2002. Michael is married, has three young boys and spends his free time with his family, bouncing around to kids birthday parties, sports activities and enjoying all the great things the city of Cincinnati has to offer – whether it be taking in a Bengals game, a local festival or spending time at the pool with the kids.

Michael’s focus on The Lowry Team is based on targeting new clients currently or soon to be in the market for a new home. His strong background in sales and extensive knowledge of the area make him a valuable asset to anyone looking to purchase a home.

If you are interested in learning more about the communities and the housing in the Cincinnati area, contact us at 513-874-1830.

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Buying a Home Step 1: Get Pre Approved

August 10, 2015 by Eric Lowry

Buying a Home Step 1: Get Pre Approved

Thinking of buying your first home? Your first step should be to get pre approved. Not quite sure what a pre approval really is? Read on and find out why it’s SO important…

A pre approval is a dry run of the loan process. A mortgage lender gathers information from you regarding your income, debts, assets, etc. to determine how much home you can afford. The lender will be able to give you a hard number that you are pre approved up to, and will be able to give you a run down of what your monthly payment would look like at each price point. There may also be several different loan types available to you depending on your situation. You may qualify for FHA, VA, USDA or Conventional. A lender will be able to talk you through your options and help you determine which would be the best fit for you.

Getting pre approved not only builds a great foundation of knowledge for starting your home search, but it also provides a great amount of comfort. How are you ever going to feel comfortable making the biggest purchase of your life if you’re not familiar with and comfortable with the numbers first?

Another very important aspect of getting pre approved before going out to look at homes is that it saves you from heartbreak. Imagine you’re out looking at some homes on the weekend with your Realtor and you walk inside one that is just perfect for you. It’s got an awesome kitchen, a finished basement, a great backyard, and whatever else might be on your wish list. You will likely be so excited and thrilled at the possibility of getting this home that you want to get an offer in right away. Sorry, I have some bad news for you. You can’t submit an offer without sending a copy of your pre approval letter with it. You can try to get in touch with a lender to get pre approved, but most likely you won’t be able to until Monday rolls around. And if you have to wait, in today’s market, you won’t get the home. Trust me, that can be absolutely heart breaking and you don’t want that. So when I say it’s in your best interest to get pre approved first, I really mean it.

Stay tuned to find out about step 2!

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other articles that may interest you:

The Value of Being Pre Approved

1st Time Home Buyer Specialists

No Regrets for First Time Home Buyers

What does it take to buy a home in today’s market?

March 29, 2015 by Eric Lowry

What does it take to buy a home in today’s market?

Buying A Home In Today's Real Estate Market — Buying A Home In Today’s Real Estate Market

Finances – The first thing you must do to buy a home in today’s real estate market is get pre-approved by a mortgage lender. This one is crucial. You need to know the numbers before you start to shop for a home. You need to know what the monthly payment will be, what your interest rate will be and how much the closing costs will be. You will also need to be pre-approved for financing a home before you make an offer. In today’s real estate market there won’t be time for that after you have found your dream home.

Purposefulness – In today’s real estate market home buyers must be very purposeful about their home search. It is really important to have a list of features that are must haves for you. We highly recommend having a Home Buying Consultation with your agent before you ever start looking at homes. Home buyers must approach their home search with a focus on finding a home and being willing to act quickly on it. Suffice it to say, having a need to think about making an offer for a few days is a recipe for failure in most cases in today’s real estate market.

Market Knowledge – Having a clear understanding of real estate market conditions is really important. Home buyers that start their home search with a mindset of finding a great deal and paying 20% less than list price on a home are living in the past. That market has been gone for a while now. In today’s real estate market, homes are selling for 97% – 98% of list price on average, with many new listings selling at or above list price. And the new listings are in many cases selling in just a matter of days. You will need to be decisive and pre-approved.

Real Estate Expertise – Working with an agent that understands today’s market and knows the area and neighborhoods you are looking in is really important. Today’s real estate market is no place to be working with an agent that does real estate part-time or isn’t serious about it. You need to be represented by a real estate agent that is active showing homes and getting offers accepted for their clients.

Ready to buy a home? Schedule a home buying consultation to find out more about today’s real estate market in the areas and price range that you are interested in.

Search Homes For Sale In West Chester Ohio Right Here!

Search Homes For Sale In Liberty Township Ohio Right Here!

Search Homes For Sale In Beckett Ridge Right Here!

Search Homes For Sale In Mason Ohio Right Here!

Search Homes For Sale In Deerfield Township Ohio Right Here!

Search Homes For Sale In Fairfield Township Ohio Right Here!

Search Homes For Sale In Fairfield Ohio Right Here!

Condo For Sale In The Historic Verona Building

January 22, 2015 by Eric Lowry Leave a Comment

Condo For Sale In The Historic Verona Building

Eric Lowry, CEO and Listing Specialist for The Lowry Team listed the two bedroom one and a half bath condo for sale in Cincinnati, Ohio. The condo is located in The Verona at Eden Park and it is listed for $169,900.

The Verona at Eden Park offers upgraded luxury condominiums with an old world charm. Built in 1908 as one of the first large, upscale communities, The Verona served as summer and weekend apartments for Cincinnati’s wealthy merchants and businessmen. In 2008 the building was added to the National Register of Historic Places.

Features of the condo include a granite kitchen with back splash and stainless steel appliances. The condo also has hardwood floors, nine foot high ceilings and six panel doors.

2356 Park Avenue 44 is conveniently located near I-71 in Walnut Hills. It is close to The University of Cincinnati, Xavier University and downtown Cincinnati. It is within walking distance of Eden Park. The garden style condominium comes with a one year home warranty.

Contact The Lowry Team to schedule a showing. 513-874-1830.

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.
Other articles you may be interested in:

The Lowry Team Keller Williams Realty: Testimonial Tuesday

This Month In Real Estate December 2014

Fannie Mae and Freddie Mac Are Offering 3% Down Programs

Do I Need A Bigger Down Payment Before I Purchase A Home?

Hire A Real Estate Agent To Get The Home That You Want

Search The Entire Cincinnati MLS For Homes For Sale

Find The Current Market Value of Your Home

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Connect with us on Twitter