1st Time Home Buyer Tax Credit For West Chester & Liberty Township, Ohio

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The recently enacted housing bill that was passed by congress has created a lot of questions.  In particular regarding the 1st time home buyer credit.

Here are some resources to get the answers you may need:

Here is a 1-page summary of the First-time Home buyer Tax Credit

Also, this can be very important to read and understand:

29 Questions/Answers on the tax credit.

And finally here is a great article from the Washington Post which is very informative.  There is a lot to understand about this tax credit.  Be sure that you have all the facts!

Before You Take That New Housing Credit . . .

Are you a 1st time homebuyer with questions about getting pre-approved or just where to start?  Let me know how I can help.  Calls and emails are always welcome.

6184 Hillsdale Lane – Beckett Station – New Listing In West Chester, Oh 45069

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New Listing In West Chester, Ohio 45069

 

My Newest Listing…

6184 Hillsdale Lane West Chester, Ohio

Lakota Schools

$259,900  – Five Bedrooms – Three Full Baths, Two Half Baths

$249,900  Reduced $10,000!

Immediate Occupancy, Move In Ready Home In Beckett Station Subdivision in West Chester:

  • Bright, Open Floor Plan
  • Warm,Inviting Family Room w/ Fireplace
  • Formal Living and Dining Rooms
  • Large Kitchen Features Stainless Steel Appliances, Breakfast Bay & Planning Desk
  • Cathedral Master Suite w/ Adjoining Whirlpool Bath & Walk-In Closet
  • 1st Floor Bedroom w/ Adjoining Full Bath & Walk-In Closet
  • Finished Lower Level w/ Half Bath
  • Cul-de-Sac Street
  • One Year Home Warranty
  • Close To Schools, Shopping, Dining & Expressways!

Looking for more information about this or any other home listed for sale, just call me or email me!

1st Time Home Buyers Do’s and Don’ts For West Chester & Liberty Township, Ohio

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First Time Buyers’ Dos And Don’ts

If you are a first time home buyer, you have a lot to learn.

Working from a blank slate you must build an understanding of the housing market, determine what you can afford, land a loan and hone in on a home that’s a good fit for your lifestyle.

The transaction will likely become your largest asset ever so there’s little room for error.

It is a daunting task, but you can ease your concerns if you take the process step-by-step, watching your footing as you move along the path toward the American Dream.

Below is a list of “Dos and Don’ts” to help 1st time home buyers turn that stress into the self-confidence you’ll need to move closer to your first home.

The list focuses on areas 1st time home buyers typically stumble over in their initial home buying attempt. Knowing what you could face will help you avoid some of those trip ups.

The Dos:

DO examine your credit standing. You need to know your credit standing…

 Also, FHA financing has really started to become the financing choice for a very large part of the homebuying market.  While it’s not just for 1st time homebuyers, it is perfect for them.  Read more about FHA financing here

As always your comments and questions are welcome!

New Listing In West Chester, Ohio 45069

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My New Listing In West Chester …

8116 Lesourdsville West Chester Road

West Chester, Ohio 45069

Lakota Schools

$199,900  – Four Bedrooms – Two Full Baths, One Half Bath

This is a beautifully decorated, move in ready home in West Chester:

  • Bright, Open Floor Plan
  • Warm,Inviting Family Room w/ Fireplace
  • Formal Living and Dining Rooms
  • Island Kitchen Features Maple Cabinets, Breakfast Bay & Large Pantry 
  • Luxury Master Suite w/ Adjoining Garden Bath & Walk-In Closet
  • Terrific Covered Rear Porch Overlooks Large, Fenced Rear Yard 
  • Walkout Basement
  • Close To Schools, Shopping, Dining & Expressways!

An Interest Rate Drop, A Can Of Paint And A Must See Video

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First the interest rate drop.  Interest rates have dropped considerably in the last week and a half with the 30 year fixed rate mortgage falling from 6.20% to just 5.60%.  A more than welcome decrease.  Interest rates do continue to be very volitale.  This article on the CNBC website provides more details on the volitility.  FHA financing is the new trend in home mortages.  I will provide an update and more information on this in the next few days.

And what a little bit of paint can do for the appearance of a home listed for sale.  Especially in today’s real estate market, anything that can be done to make your home show better and be more appealing should be done. The freshness of a new coat of paint both visually and in the fresh smell when you walk in the door are hard to deny.  This is a great home in West Chester, Ohio, listed for $165,000 and is now freshly painted throughout most of the interior.  

Your comments and questions are always welcome!

Real Estate Market Update For West Chester & Liberty Township, Ohio – February 2008

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February 2008 Home Sales For West Chester & Liberty Township, Ohio

 
 

February 2007

February 2008

+ / –

Closed Units

82

79

-3.66%

Average Sale Price

$235,031

$228,849

-2.63%

Average Days On Market

82

84

+2.44%

Average List to Sale Price %

96.88%

95.19%

-1.69%

When is a decrease in home sales good news??

When the decrease in the number of closed units is the lowest percentage decrease in quite some time.

Home sales in West Chester and Liberty Township fell by 3.66% in February 2008 when compared to February 2007.  This is remarkable when you consider that the last couple of months decreases were 29.27% In January and 21.00% in December.  We are seeing sporadic increases of showing activity by buyers, however these showings are not resulting in an increase in sales as of yet, however this is clearly an improvement over the steep declines that we were seeing.

The average sale price in West Chester and Liberty Township was $228,849 in February.   This is a lower average sale price than what was seen in February of 2007.  It is 2.63% lower than 2007.  This is certainly not surprising and continues to re-inforce the need to price your home aggressively to get it sold.

Wondering what your home is worth??

Click here to find the current market value of your home

The average days on market rose to an average of 84 days on the market,  which is a 14 day increase over homes that closed in January and it is just a 2 day increase over February 2007.  Keep in mind, the “days on market” statistic is based on homes that have sold and closed, and is not impacted by homes that are still for sale.  So that home that you drive by everyday, that you know has been for sale for months and months, is not factored into this statistic.

The list price to sale price ratio was considerably lower again in February 2008 as compared to February 2007.  It fell 1.69 basis points from the prior year and was .09 basis points higher than January 2008.  This list to sale price ratio of 95.19% is one of the strongest indicators of jus how much of a buyer’s market this really is.

Mortgage rates have climbed considerably.   Mortgage rates which were hovering around 5.49% for a thirty year fixed rate mortgage just weeks ago, are now  at 6.05% for the same thirty year fixed rate mortgage.  I had many people tell me that they were waiting for rates to go even lower when they were at 5.49%.  These people waited to buy or refinance and missed out on a great rate.  Will the rates return to these lower levels??  Only time will tell.  My guess is they may not get below 5.50%  again for quite some time.  If they do, I sure wouldn’t wait again!

As always I will continue to monitor these real estate market numbers  for West Chester and Liberty Township Ohio and will share them as they become available.  Should you have particular questions about these numbers please let me know!

If you would like to learn the current market value of your home I would be happy to provide you with it.

I would love to hear your thoughts and comments!