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
1. FHA loans are not only for first time homebuyers.
Many people believe FHA loans are available only to first-time home buyers, but this is not true. While it’s true many home buyers are buying their first home using an FHA loan, but a large number of move up/repeat home buyers are also utilizing the opportunity of the FHA loans as a home financing option.
2. FHA loans are not only for lower-income homebuyers.
FHA loans are available to everyone. There are many homebuyers in West Chester and Liberty Township Ohio using FHA financing. There are no income restrictions tied to FHA loans. Just as with conventional mortgage financing, home buyers do need to qualify for a mortgage based on their income, monthly debt obligations and credit scores.
3. FHA loans are not just for small mortgages.
Currently in Butler County, Warren County and Hamilton County, Ohio the FHA loan limits are $337,500. Keep in mind that this is the loan limit. So, as an example, someone buying a home with a 3.5% down payment could buy a home for as much as a $350,000 purchase price. Which leads to my last point on FHA mortgage lending.
4. FHA loans are often more affordable than conventional financing. FHA loans offer very competitive interest rates when compared to other loans. Home buyers also benefit from a much lower down payment, as I mentioned above. The down payment required to buy a home can be as low as 3.50%. And also the mortgage insurance premium may be lower on the FHA financing when compared to the conventional mortgage insurance for loans with less that 20% down.
For more information on FHA financing or for a referral to a terrific mortgage loan consultant please call Eric Lowry at (513) 874-1830 or visit our website, LowryTeam.com.
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
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
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…
Keller Williams Red Day: Keller Williams Realty Red Day is this Thursday, May 13th. Our Keller Williams Realty Associate Partners office here in West Chester will b conducting a day long food and clothing drive to benefit Reach Out Lakota. You can get more information by visiting our facebook fan page at www.Facebook.com/LowryTeamRealEstate and find more information on Reach Out Lakota by visiting their website http://www.reachoutlakota.org
Interest Rate Update: Interest rates on a 30 year fixed rate mortgage continue to fluctuate a little day to day, but remain very low. The rate on a 30 year fixed rate mortgage today was 4.85% with no points according to Third Federal Savings. With rates continuing to be this low, the opportunities to move up to a new or larger home and not greatly increase your monthly payment are terrific. By the way, the selection of homes to pick from is very good right now. Thinking of buying a home in West Chester, Liberty Township, Beckett Ridge, Mason or Fairfield Township? You can search homes for sale on our website at anytime, including features like map searches, saved search, new listing notifications and more! Just visit www.LowryTeam.com.
Home and Property Values: This section of the Tuesday Open House seems a little like a comedy show. Just today I saw both of these headlines and reports:
Headline: “Cincinnati metro home prices up 14.5% in 1Q” – The National Association of Realtors reported Tuesday that median home prices rose in Greater Cincinnati year over year during the first quarter, although they dropped from fourth-quarter 2009. Read more: Cincinnati metro home prices up 14.5% in 1Q – Business Courier of Cincinnati:
And then this:
Headline: “Zillow: Home prices still falling” – Housing values in Cincinnati and most U.S. metropolitan areas continued their decline into the first quarter, but a new report from researcher Zillow.com points to encouraging signs in some of the most battered markets, according to a report in Columbus Business First. Read more: Business Courier of Cincinnati: Zillow: Home prices still falling
Moral of the story?? If you really want to know the value of your home…Ask a local Realtor that is an expert in your local area / neighborhood. If you would like to monitor home and property values in your West Chester, Liberty Township, Beckett Ridge, Mason or Fairfield Township, Ohio neighborhood get your own Personal Market Update that shows both homes for sale in your neighborhood and recent sales. You can get your own Personal Market Update delivered right to your inbox with no cost or obligation by visiting www.HomeValuesInCincy.com
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 90 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.
While you are on facebook checking out the Reach Out Lakota fan page, please visit and become a fan of our facebook page.
Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?
Search the entire MLS here! Wondering what your home is worth in today’s real estate market? Request a market analysis here!
Visit My YouTube channel at: www.youtube.com/LowryTeam
Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio
Top Home Buying Mistakes
Buying a home can be a daunting task. It is likely the most expensive purchase that you will ever make. Just one mistake could mean disaster — resulting in a stressful experience and one that may not end with you in the home of your dreams. In order to avoid such an experience, buyers should get to know the most common home buying mistakes.
The top home buying mistakes to avoid:
Going solo: Buying a home is a complex transaction. It should be a team effort. You need to find an experienced REALTOR® that knows the area that you are looking in, a lender with good interest rates and low closing costs, a competent, experienced home inspector, a good insurance agent to provide your homeowner’s insurance policy, insurer, and a title company to conduct the title search and the actual closing. Assemble your team before you start the search for your new dream home.
Love at first sight: Be sure that your home fits your real needs. Buying a home is an emotional process and it may be that the first home for sale that you see is the perfect fit. Just be sure that you are looking past the “perfect” paint colors and the granite counters, to be sure that the home fits your budget and your lifestyle. Be sure the home is in a community and neighborhood you feel comfortable in. Drive around in neighborhoods several times before you buy to check out schools, noise and traffic patterns.
‘Loanless’ shopping: Get pre-approved for a mortgage before you begin looking at homes for sale. This will give you an idea of not only how much you can afford to borrow, but also how much you are comfortable borrowing. It’s also critical to be pre-approved for a mortgage before making an offer, sellers will take you more seriously.
Buying too much home: Home buyers buying more than they could truly afford, in part, led to the collapse of the housing market. Buy more than you can afford and your dream home will become the same nightmare. Analyze all your monthly costs including debts, food, transportation, entertainment, and savings. Your total monthly debts, including your mortgage, should not exceed 36 percent of your income before taxes. Don’t forget to budget closing costs, plus moving, redecorating and maintenance. Look ahead and allow for increases in ongoing expenses such as utilities and taxes.
Misplaced trust: You are engaged in what’s likely your most valuable purchase ever. It’s a business transaction. Ask family, friends & co-workers for referrals, but don’t take their word for it. Be sure that the professionals you are working with have experience and your best interests in mind.
Accepting oral agreements: Get it in writing. The rate lock, the home inspection, disclosures, the contract. Always. Should a dispute arise, you’ve got the details documented.
Skipping the fine print: Understand what’s really in any document before signing it. Get documents in advance, take time to read them and ask questions. Get copies of your mortgage and closing papers a few days ahead of closing.
Forgetting or betting on resale: Avoid buying a home that costs 50 percent more than neighboring homes. Reconsider buying the most expensive home on the block. Neighbors’ lower home values will weaken yours. Buy intending to flip your investment only to have the market fail means when it’s time to sell your price may not cover your costs.
Making an unconditional offer: Protect yourself with these contingencies:
1. Mortgage financing: You may be pre-approved but is the house? A formal appraisal confirms — or not — that there is sufficient value in the home to warrant the loan. If the house appraises lower than the sales price, the loan may be declined.
2. Inspection: Never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.
3. Insurance: Confirm you can get adequate insurance coverage. In some areas, or following certain disasters, it can be difficult to get types of hazard insurance.
Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?
Search the entire MLS database of homes for sale here!
Wondering what your home is worth in today’s real estate market? Request a market analysis here!
Visit My YouTube channel at: www.youtube.com/LowryTeam
Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio
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…
Buying A Home: One of my favorite writers and the author of Seth’s Blog, Seth Godin had a great blog post last week on how to buy a house. Actually he termed it how to think about buying a house. It is an really good article that is definitely worth taking the time to read. You can read How to buy A house here
Mortgage Interest Rates: The interest rate on a 30 year fixed rate mortgage was just 4.90% this morning. If you are thinking about a 15 year fixed rate, you can get that today for just 4.25%. Both of these rates were with no points. These mortgage rates come courtesy of Third Federal Savings. With rates this low, moving up to a larger or newer home seems like a very good decision. For instance… if you are currently in a home with a $200,000 mortgage at 6.00% your principal and interest payment is $1199. Moving up to a home with a $300,000 mortgage at 4.90% carries with it a monthly principal and interest payment of $1592, just under $400 more. Clearly there are many factors to consider including your job security, other monthly bills, etc., but if the time is right for you personally, this is a great opportunity to move up!
Keller Williams RED Day: Keller Williams Realty Red Day plans are underway! On May 13th, the Keller Williams Associate Partners office will be conducting a huge food and clothing collection drive for Reach Out Lakota!!!! Praying the day will be a huge success…Please RSVP to let us know if you would like to donate…we’ll come to your home on May 13th and pick up your donations. All you have to do is leave it out on your front porch for us. To RSVP, please visit our Lowry Team Real Estate Facebook Fan Page!
Thinking Of Selling?: It is spring in West Chester and Liberty Township and this is a time of year when many homeowners think about putting their home on the market for sale and now is a good time to do so. But first, consider finding an experienced real estate professional to consult with you. It is very important that your home is ready for the market, there clearly are improvements that are critical to your home selling for the most money possible. You can get our 20 Steps To Help You Sell Your Home In Today’s Market here for free. This will get you started. Also, be sure that you get a detailed market value analyis of the value of your home so that you start out day one on the market at the right list price. You can request a Free Market Value Analysis here. In today’s market, experience counts. Your choice of a real estate agent could determine if your home sells at all! Let us know if we can help.
Our Facebook Fan Page of the week is: Taste of Cincinnati. The Taste of Cincinnati is just a month away now. Taste of Cincinnati USA is held every Memorial Day weekend in downtown Cincinnati. Started in 1979, it is now the nation’s longest running culinary arts festival.. Check out their Facebook page for all of the details. As of today they have 2394 fans.
While you are on facebook checking out the Taste Of Cincinnati fan page, please visit and become a fan of our facebook page.
Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?
Search the entire MLS database of homes for sale here! Wondering what your home is worth in today’s real estate market? Request a market analysis here!
Visit My YouTube channel at: www.youtube.com/LowryTeam
Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio