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Fannie Mae and Freddie Mac Are Offering 3% Down Programs

December 19, 2014 by Eric Lowry Leave a Comment

Fannie Mae and Freddie Mac Are Offering 3% Down Mortgage Programs

Fannie Mae and Freddie Mac have both announced that they will begin offering 3% down options for home buyers. Fannie Mae’s 3% mortgage program went into effect on December 13, 2014. Fannie Mac will roll out their 3% down mortgage program beginning March 23, 2015.

The 3% down programs will be helpful to potential home buyers that qualify for a loan but lack the funds for a more substantial down payment.

The Lowry Team can refer you to their preferred lender. First Option Lending can explain these new programs in further detail. They can also start the pre-approval process so that you can begin looking for your new home.

Contact Eric Lowry, CEO of The Lowry Team, for more information about the housing market, interest rates, and buying or selling a home. He can arrange for a FREE Buyer’s Consultation to help you determine what the best course of action is for you.

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.

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Oxford Ohio Is Named Best College Town In The Nation

December 19, 2014 by Eric Lowry Leave a Comment

Oxford Ohio Is Named Best College Town In The Nation

WalletHub.com has named Oxford, Ohio the best college town in the nation. Oxford, Ohio is home to Miami University. Oxford placed first out of 280 college cities and towns in the study. Rankings were based on 23 factors. Some of those factors include the quality of higher education, crime rates and the cost of living.

The 23 factors taken into consideration were then broken down into 3 major categories. Those categories were wallet wellness, a youth oriented environment and opportunities. Oxford ranked 23rd for wallet wellness, 16th for youth oriented environment and 1st for opportunities. Read the whole report here.

Oxford, Ohio encompasses 7.24 square miles in the northwest corner of Butler County. Oxford has approximately 22,000 residents, 44% of which are between the ages of 20 and 24. Residents of Oxford Ohio attend the Talawanda School District. Oxford is home to many parks, a municipal pool and a community center.

For more information about Oxford, Ohio contact a member of The Lowry Team at 513-874-1830.

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.
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The Worst Home Projects For The Money

December 17, 2014 by Eric Lowry Leave a Comment

The Worst Home Projects For The Money

Home renovations and projects are never a sure guarantee that you will recoup your money invested. If you sell your home down the road, you may or may not get your money back. When you invest a large sum of money into home renovations, be sure that it is for something that will bring you a lot of enjoyment. In the end, it may make you more comfortable while you live in your home but will not be a financial boost to your home’s resale value.

According to a 2014 study done by Remodeling Magazine, the following renovations brought the worst returns on money invested. Please note that all of the projects were moderate to high end renovations done by professionals. These were not do it yourself home projects. All figures are national averages.

Office remodels – An upscale professional grade office remodel will cost $28,000 (national average) and return less than 50% of the cost at resale. One reason for this is that buyers are not as interested in a home office as they are in an updated kitchen.

Sunroom addition – This addition will average $73,000 nationally and yield just a little over 50% of it’s investment. This is, however, a national average. It really depends a lot on the region the home is located in.

Moderate master suite addition – Here is that word addition again! Anytime you add on to the home and it’s foundation, it is going to be a costly project. Remodeling Magazine’s study found that the addition would average $100,000 and you get about a 60% return at the time of resale. Buyers are interested in an updated master just as they would be a kitchen or bathroom. Consider updating or renovating the existing space rather than an addition. The project will cost considerably less that way.

Moderate garage addition – This project will cost around $48,000 and net you a 64% return at resale. If you live in an area where homes do not have garages or lack other storage areas such as attics and basements, this project could really help with resale.

Bathroom addition – Regardless of whether upscale or not, return on investment is around 60% Usually, a homeowner does not just add on a bathroom. It is usually a part of a much larger project. Consider adding a bathroom along with a new master suite addition. First floor masters are increasing in popularity and can be appealing to the home buyer.

In the end, it is your home and you want to enjoy it and be comfortable living in it. Reduce the cost of some of these projects by scaling back on the extras and by doing them yourself. Just be aware that you will most probably not recoup all of the money spent when and if you choose to sell your home.

Thinking of buying or selling a home? Contact The Lowry Team!

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.

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The Lowry Team Helps Their Clients Buy And Sell A Home

December 17, 2014 by Eric Lowry Leave a Comment

The Lowry Team Helps Their Clients Buy And Sell A Home

Eric Lowry, CEO and Listing Agent for The Lowry Team, listed the West Chester Ohio home for sale. The 3 bedroom 2.5 bath ranch home is located at 7081 Butterwood Drive West Chester Ohio 45069.The house was listed for $209,900 and sold for 99% of the list price at $207,900. The home was on the market just 45 days. Features of the home include a large kitchen, bedrooms and an inviting family room with a wood burning fireplace. The home has newer windows, air conditioning and roof.

The Lowry Team also helped their clients purchase a new home. The home located at 4822 Mallard Creek Drive Mason Ohio 45040 was listed for $182,500 and sold for $177,000. The ranch home was a formal model home. The home features 2 bedrooms and 2 full baths. The large master suite has a luxury bath. Other features include a study with a built in desk and shelves. and a screened porch.

The clients said, “We are very pleased with the way Lisa and Eric Lowry handled everything. The service was excellent.” Eric was happy with how smoothly both the transactions went.

If you are thinking of buying or selling a home, let The Lowry Team put their 5 star service to work for you!

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.

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