It’s time for the Tuesday Open House. What is Tuesday Open House?? Well, it’s clearly not an “open house”. Open Houses don’t sell homes, 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…
New Listing: 325 Bridle Pass Way, Monroe, Ohio. Located in Bridle Creek subdivision this terrific ranch home really is a must see. It features three bedrooms and two full baths on the first floor, along with a cathedral great room, eat-in kitchen, cathedral master w/ adjoining bath and first floor laundry. The lower level is really special, featuring a large rec room w/ wet bar, recessed ceiling and recessed lighting, a fourth bedroom and third full bath, plus a professional class media room.
Need Mulch? As I mentioned last week, if you are preparing your home to get it on the market for sale soon? 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 see the article in the Cincinnati Enquirer here or you can just go directly to the boy scouts site right here. I am placing my order this week.
Good Reasons To Buy Now: Here is a really good article on why now is the time to buy real estate if you have been thinking of it and are just undecided or unsure. 5 Good Reasons To Buy That Home NOW!
This article makes the point that waiting to buy a home until later may in fact cost you money. The below example spells this out pretty clearly I think:
Let’s say that you buy a home for $200,000 and make a 10% down payment using a 30 year fixed rate mortgage. If your interest rate today is 5.00%, the monthly payment will be $967.
But let’s say you want to wait to see if home values fall farther in the West Chester/Liberty Township area. If home values do fall a little more and that same home can now be purchased for $195,000 with the same 10% down payment, but while you waited interest rates went up slightly to 5.25%, your payment would now be $969. Even though you paid $5000 less, you payment is now $2 higher.
If rates have moved up to 5.50% during this time, your payment would now be $996. And these payments are based on the lower purchase price, if the value of the home you were buying didn’t drop and the rates went up the monthly payments would be even higher.
So waiting to buy may very well cost you money. Rates have started to rise, not dramatically yet, but don’t wait too long!
Our Facebook Fan Page of the week is: Reach Out Lakota. This community organization does a lot of good in our community. They need more than just for us to become fans of them on facebook, they need our support and donations! As of this writing their page has 53 fans, so I ask that you check out their fan page, become a fan and invite your facebook friends to do the same. More importantly though, consider donating nonperishable food items and clothing to Reach Out Lakota today. Check it out.
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