West Chester & Liberty Twp OH Real Estate: Home Buyers Have The Edge!

by Leave a Comment

Home Buyers Have The Edge!

According to Lawrence Yun, chief economist from the National Association of Realtors, “Home buyers over the past year got a great deal and buyers for the balance of this year have an edge over sellers.  Affordability could reach a generational high in the second half of this year because of rock bottom interest rates, helped partly by the Fed’s very accommodative monetary policy.”

Donald Trump says:  “I can’t guarantee it, but I’m pretty sure this is right now a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to that interview with Donald Trump’.”

And John Paulson says:  “If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.” – John Paulson 9/27/2010

For more reasons why now is a prime time to buy a home, contact me and I’ll send you a free eBook titled  “7 Reasons Why Now Is A Great Time To Buy A Home”

Start Your Search For Your New West Chester or Liberty Township Ohio Home Right Here!

West Chester & Liberty Township OH Real Estate: Don’t Worry If You Missed Out On The Home Buyer Tax Credit

by

The home buyer tax credit may be gone, but don’t worry. You may have missed out on the first time homebuyer tax credit of $8000, but the opportunities presented by today’s historically low interest rates are even better than they were this spring.  For instance… If you buy a home right now at today’s low interest rates, you can save ten’s of thousand’s of dollars!

Interest Rates Are Low!  A $200,000 30 year mortgage at the current rate of 4.60%* can save you ten’s of thousand’s of dollars over the life of the loan versus the same loan with the 5.50% rate from earlier this year!With some research you can hold the key to your new home

Buy a home now and gain so much more than what was possible with the $8000 tax credit. You really don’t want to miss out on this savings and opportunity.  On top of the great savings the low interest rates present, there is another opportunity.

The inventory of homes for sale right now is really great and the prices on many of these homes are really good. To start your home search contact us today at (513) 874-1830 or visit our website, www.LowryTeam.com.  Buying a foreclosed / bank owned home or a short sale can be a great investment opportunity under the right circumstances.  If you would like to receive a FREE list of foreclosures & short sale homes for sale you can request a list using our Foreclosure Finder Service

You can also start your Search Homes For Sale right here!

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

West Chester & Liberty Township OH Real Estate: FHA Loans

by Leave a Comment

 

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

 

West Chester & Liberty Township OH Real Estate: Tuesday Open House

by Leave a Comment

It’s time for the Tuesday Open House. What is Tuesday Open House?? Well, it’s clearly not an “open house”. Open Houses don’t sell homes, 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…

 

New Listing: 325 Bridle Pass Way, Monroe, Ohio.  Located in Bridle Creek subdivision this terrific ranch home really is a must see.  It features three bedrooms and two full baths on the first floor, along with a cathedral great room, eat-in kitchen, cathedral master w/ adjoining bath and first floor laundry.  The lower level is really special, featuring a large rec room w/ wet bar, recessed ceiling and recessed lighting, a fourth bedroom and third full bath, plus a professional class media room.  

 

Need Mulch? As I mentioned last week, if you are preparing your home to get it on the market for sale soon? Don’t forget the curb appeal. As the old saying goes… you only get one chance to make a good first impression. So clean up the landscaping and get yourself some fresh mulch. I’m not sure that there is a better way to go than to get it from the boy scouts. They even deliver! You can see the article in the Cincinnati Enquirer here or you can just go directly to the boy scouts site right here. I am placing my order this week.

Good Reasons To Buy Now: Here is a really good article on why now is the time to buy real estate if you have been thinking of it and are just undecided or unsure.  5 Good Reasons To Buy That Home NOW!

This article makes the point that waiting to buy a home until later may in fact cost you money.  The below example spells this out pretty clearly I think:

Let’s say that you buy a home for $200,000 and make a  10% down payment using a 30 year fixed rate mortgage.  If your interest rate today is 5.00%, the monthly payment will be $967. 

But let’s say you want to wait to see if home values fall farther in the West Chester/Liberty Township area.  If home values do fall a little more and that same home can now be purchased for $195,000 with the same 10% down payment, but while you waited interest rates went up slightly to 5.25%, your payment would now be $969.  Even though you paid $5000 less, you payment is now $2 higher. 

If rates have moved up to 5.50% during this time, your payment would now be $996.  And these payments are based on the lower purchase price, if the value of the home you were buying didn’t drop and the rates went up the monthly payments would be even higher. 

So waiting to buy may very well cost you money.  Rates have started to rise, not dramatically yet, but don’t wait too long! 

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 53 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

West Chester OH Real Estate: Now Is The Time For First Time Home Buyers

by Leave a Comment

For first time home buyers now is the time to act.  With the government offering an $8000 tax credit on homes purchased by April 30th, 2010 and with the historically low interest rates available today, this is an opportunity not to be missed! 

First of all there is the tax credit.  It goes like this, buy a home by April 30th, file your tax return and get cash back from the government.  This is a true credit and not just a nice deduction.  Of course there are some limitations based on your income level, etc.  You should definitely consult a tax professional regarding your own personal situation.

Second, we have the low interest rates.  As of today they are hovering around 5.00% for a 30 year fixed rate mortgage.  These are terrific rates that will not last!  Why won’t they last?  Because the government’s intervention in the mortgage markets which forced rates to drop dramatically is slated to end on March 30th, 2010.  When this stops, rates go up.  Some experts predict that rates will be over 6.00% by year’s end.  Don’t miss out!

In addition to both of these great factors, home prices and selection are also terrific.  With housing prices having fallen and the available supply of homes for sale still very, very good, this would be a great time to buy even without the tax credit and low interest rates.

So we have:

$8000.  tax credit + low interest rates + low home prices + great selection of homes = FANTASTIC OPPORTUNITY!

Get more information on buying your first home by visiting my website .  Available there, are three e-Books packed with information on buying your first home and they are completely free and there is no obligation.

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

Search the entire MLS 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 News: Low Mortgage Rates, Catch Them While You Can

by Leave a Comment

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?

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