Homes For Sale Archives - Page 26 of 31 -

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

November 27, 2009 by Eric Lowry Leave a Comment

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!

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West Chester OH Real Estate: Anatomy of a Short Sale

November 4, 2009 by Eric Lowry Leave a Comment

keys — A short sale can be time consuming and complex

A short sale is the selling of property to avoid foreclosure, the catch being that the property is being sold for less than the amount owed on it. What makes a short sale tricky is that the sale price is not up to the seller, the lender has to agree to the purchase price. The home owner isn’t walking away with any money at closing in the case of a short sale so he doesn’t care if the home sells for a dollar, the bank’s involvement is to reduce their loss as much as possible and the buyer just wants a bargain.

The basic process of a short sale is:

Although many believe that a borrower must be in arrears on loan payments this is not necessarily true
Borrower or broker contacts lender to discuss the possibility of a short sale
Potential buyer makes offer, knowing what is owed by borrower/owner of property
Lender reviews loan and offer
Borrower has to show/prove financial hardship
Lender and broker discuss value and condition of property and examine any offers
Lender makes final call

The short sale process looks easy on paper, follow the steps and the deal is done, short sale completed. However, in reality the communication between the borrower, lender, Realtor and potential buyer is complex and time consuming. Simply wanting a short sale won’t make it happen. Using a CDPE (Certified Distressed Property Expert) eases the pain and insures you better success when trying to complete a short sale. “Being in financial stress is not easy on anyone and and having received the CDPE designation will help me get the job accomplished in a more timely manner and help create a successful real estate transaction for my clients” said Eric Lowry.

West Chester, OH Real Estate News: Home-A-Rama Starts Off This Weekend!

September 10, 2009 by Eric Lowry Leave a Comment

Home-A-Rama, the luxury home show, starts this weekend and runs through September 27th at Carmelle in Mason. The show is smaller in number of homes this year due to the current market conditions, but five homes listed between $600, 000 to $1 million should still be a pretty interesting show and the homes are certain to be full of fantastic amenities like granite kitchens, terrific finished lower levels and the finest in outdoor living spaces.

You can read the Cincinnati Enquirer article about Home-A-Rama that ran in today’s paper here.

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

West Chester, OH Real Estate: Why Use A Realtor?

August 22, 2009 by Eric Lowry Leave a Comment

A Realtor can be an invaluable tool when buying or selling real estate

An often asked question is: Should I use a Realtor or not? People often underestimate Realtors and their importance in a real estate transaction. On both sides of a sale the right real estate professional can be an invaluable asset, helping to keep deals together and run more smoothly.

For sellers Realtors are valuable in a number of ways. Realtors know the local market and how to evaluate the price your home should be listed for sale at and also can provide an estimate of what it will sell for. A real estate professional will advertise, market and expose your home to other real estate professionals as well as the community at large, not to mention the large customer base that they may already have. A Realtor can help you prepare your home for sale in today’s real estate market. Realtors are indispensable when it comes to negotiating contracts and inspection issues as well as making sure each step is carried out to the seller’s best interest.

For buyers a real estate broker can be an incredibly helpful tool when looking for real estate. The right Realtor knows his local West Chester, Beckett Ridge and Liberty Township, Ohio real estate market. He knows what is available and knows the community, its amenities and all that it has to offer. The right Realtor will prepare a Comparative Market Analysis (CMA) of the home an offer is being prepared on and will write a contract for the benefit of the buyer when the buyer has found this ideal property. The right Realtor can make recommendations on financing and will help the buyer follow through with each step until closing.

In a nutshell, the right Realtor is incredibly helpful in diminishing the stresses involved with buying and/or selling real estate. Contact an experienced Realtor in the area you are thinking of buying or selling property in today. Please let me know if I can assist you.

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