West Chester OH Real Estate News: Low Mortgage Rates, Catch Them While You Can

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West Chester Ohio Homes For Sale
Now might be the best time to lock in a low mortgage rate

Low interest rates have been gracing the real estate market with their presence for the past year but the word on the street is that they won’t be here much longer.  While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin to rise.  Many so called experts expect that the 30 year rates may be at 6.00% or higher by years end. 

For those wishing to lock in at below 5%, the time just might be now or never (or at least for a very long time).  Today in fact I saw a 30 year fixed mortgage rate quoted at 4.85%.  The general sentiment among economists is that rates are not going anywhere but up from here and in my opinion this is definitely the case.  The federal government’s intervention in the mortgage market has caused rates to be artificially low for some time now.  This intervention is coming to an end by March 30th.

The strengthening of the economy equals less chance for discounted rates.  If you are looking to buy a home, now is the best time to do so.  We have low interest rates, tax credits and a great supply of homes for sale.  These three factors will not line up like this again at one time, for a very long time.

Looking for a referral to a good lender with good interest rates and reasonable closing costs?  Call me or email me and I will get you in touch with a lender that will take great care in getting your financing lined up for you.

Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?

 
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

 

West Chester OH Real Estate: Get a Mortgage Before Searching For A Home

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West Chester Ohio Homes For Sale
Finding a mortgage before looking for real estate is a smart idea

The first step in buying a home should be getting a mortgage.  Getting a mortgage, or rather getting approved for a mortgage, lets you know what you can expect in the way of a monthly payment before you begin to look at homes.

Interest rates can have a big impact on what your monthly payment ultimately ends up being and rates have been inching upward in the last few weeks.  Now is the time to take advantage of both these historically low interest rates as well as the tax credits now being made available to both first time homebuyers and move up buyers.

There are any places to look for a mortgage these days.  There are banks, mortgage brokers, finance companies, credit unions and private lenders.  Often experienced Realtors have mortgage brokers or banks that they work with often and using a lender that has a good reputation is often a safe bet.

When looking for a mortgage you should have a good idea how much you can afford to pay each month.  Look into the past, present and future to determine this.  It is of the utmost importance not to bite off more than you can chew when it comes to your finances and the affordability of a home that you might buy.

When applying for a loan you will need to provide documentation of income, monthly expenses, and assets.  Have your financial statements and tax returns ready and the process will be much easier.

Having a mortgage ready to go before finding a property will make the entire process smoother.  Financing is harder to get these days and being prepared is a wise step in the home buying process.

Looking for a referral to a good lender with good interest rates and reasonable closing costs?  Call me or email me and I will get you in touch with a lender that will take great care in getting your financing lined up for you.

Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?

 
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

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West Chester OH Real Estate: Waiting For the Bottom

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There are many people out there waiting for the bottom to hit in many facets of the economy, including real estate.  Perhaps there will be a big announcement one morning across newspaper headlines and across the internet “THE BOTTOM IS HERE: NOW IS THE EXACT MOMENT TO BUY”.  Of course by the time the announcement comes the bottom will have hit and the exact time to buy real estate will have come and gone.

A great analogy to the bottom of the real estate market is a yo-yo.  Take a yo-yo in your hand and use it.  Can a person grab the yo-yo at the exact moment it hits bottom every time?  Chances are a person will grab it just before it hits bottom or just after, rarely at the exact bottom.   Real estate is the same game, if it is indeed a game.  If people knew, absolutely knew, the exact time to buy stocks, real estate, or any other investment then no one would ever have a financial worry.

For people who believe in investing in real estate, now is a great time to buy.  Interest rates won’t be low forever, in fact interest rates have been inching up the past 10 days now.  Most mortgage experts expect interest rates to return to the 6.00% range over the next few months to a year.

In addition, the tax credits available for purchasing a home make now an incredible time to buy.  

Real estate has either already hit the bottom, is about to or is already on its way up, we’ll know for certain sometime in the future.  If you want to buy at the bottom, buy now. Or wait until it’s too late, when you can look back and say, “If only I had bought then.”

Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Ohio?

Search the entire MLS here!

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

West Chester OH Real Estate: Business Week Article On Home Buying

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Business Week magazine has a pretty interesting article on the opportunities that are out there for home buyers right now.  I don’t agree with the title, but the information is very valid.

Click here to read the article from Business Week magazine

Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Ohio?

Search the entire MLS here!

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

West Chester OH Real Estate: To Rent or To Buy, That is the Question

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A question that surfaces on most people’s mind at some point is, whether to rent or to buy a home or condo.  The first thing that pops to mind is affordability but there are other factors, such as job stability, relocation possibilities and lifestyle.  If you intend on being in an area like West Chester, Liberty Township, Fairfield Township, Mason or Monroe, Ohio for at least two more years, your income is steady and purchasing a home fits your lifestyle then it is time to break out a pen, paper and a calculator and see if buying makes more sense financially than renting.

At first glance buying a home makes more sense than renting because of the ability to gain equity in a home, especially in today’s market with the lowest home prices in years and historically low interest rates.  For First Time Homebuyer’s there is also the $8000 tax credit for purchasing a home to factor in.

There is no sense making a two column list when it comes out to equating the cost of renting and buying.  Renting is a fixed equation, the monthly number typically doesn’t change.  To compute your costs for buying a home you look at the following:

  • Purchase price
  • Down payment amount
  • Loan Amount
  • Loan Term
  • Interest rate
  • Property taxes
  • HOA fees
  • Monthly mortgage payment
  • Home owner’s insurance
  • Mortgage insurance

Your monthly costs will include your mortgage payment, property taxes, insurance, and any HOA dues that may exist.  If these numbers add up to an amount you can afford it could make sense for you to purchase a home instead of rent.  The important thing to remember is that once you buy a home you are not going to have a landlord to rely on to make repairs so factor in putting aside some extra money for a home repair and maintenance account.

Buying a home is an important decision and one which can add to future security and financial stability if done with great thought and evaluation.

Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Ohio?

Search the entire MLS here!

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

West Chester, Ohio Real Estate: New Listing In Beckett Ridge!

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West Chester, Ohio Real Estate: New Listing In Beckett Ridge!

New Listing On LowryTeam.com…

 

5254 Woodcliff Court, West Chester, Ohio 45069

West Chester, Ohio 45069

Lakota Schools

$269,900  – Two Bedrooms – Two Full Baths, One Half Bath

This Is A Terrific Ranch Style Home In West Chester, Ohio:

  • The Woods Of Beckett!
  • Terrific Updated, Island Kitchen
  • Cathedral Family Room w/ Gas Fireplace
  • Large Master Suite w/ Deck Overlooking Wooded Setting
  • Finished, Walkout Lower Level 
  • Lower Level Features Fireplace, Bar, Bedroom & Full Bath
  • Formal Dining Room w/ Laminate Floors
  • First Floor Laundry
  • Beautiful Outdoor Setting – Perfect For Entertaining
  • Beckett Ridge Golf Course View
  • Close To Shopping, Dining & Expressways

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