West Chester OH Real Estate: The Tax Credit is Also For Those Who Wish to Downsize

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West Chester Ohio Homes For Sale
The tax credit is not just for those buying a bigger home, it also works for those wanting to downsize

When the First Time Home Buyer Tax credit was extended and expanded most people thought the expansion was only for home owners who wanted to move up, those who wished to buy a bigger, more expensive home. In fact, the expansion simply includes those who have owned a primary residence and lived in it for at least five consecutive years out of the last eight years. If current home owners want to downsize they can use the tax credit toward their new home, regardless of whether it costs less or is smaller than the home that they are selling.

It is an anomaly that everyone assumes the tax credit is only for purchasing bigger and better. Many people, especially those whose children have grown and left the nest, want to downsize. After-all, who doesn’t want to make life simpler these days?

If you have been considering selling your home and moving into a smaller space, consider doing so before the tax credit expires. Place your new home under contract by April 30th and close by June 30th and you could have a few extra dollars in your pocket.

Learn more about both of the homebuyer tax credits 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, OH Real Estate: Selling Your Home? Choose the Right Realtor

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Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs.  A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a Realtor that is experienced and knowledgeable, someone that will do the best job for you.  When selecting your real estate agent here are a few things to keep in mind:

Choose someone with experience.  In today’s market, experience  and the knowledge of what it takes to get the job done are more important than ever.

Get references from your potential Realtor and get in touch with them.  Find out what other people’s experience with a particular Realtor has been.

Have your Realtor do a detailed market analysis of your home.  A top selling real estate agent will be able to detail for you what has been selling and for what price.  They will be able to evaluate your home, it’s condition and your location, giving you a value for your home that will help sell it not deter people from looking at it.

What does your Realtor plan to do for you in terms of marketing?  Do they take a large number of interior and exterior photos of your home, do they post a virtual tour of it, do they distribute the listing to all of the major real estate websites on the internet?  Do they even have a website of their own or just a bio page on their company’s website?  And do they have a strategy for capturing incoming calls of the listing from potential buyers?

Do you need to sell your home as a short sale?  If you do, make sure to select someone with extensive training in this process, such as a Realtor with the CDPE designation.  This is a complicated process and you need someone that has the training and experience to help you navigate this process.

Your home may be your most valuable asset.  Do your legwork and choose the best Realtor for your home.  They should be a salesperson, they should have experience and they should know your market area very, very well.  If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

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 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?

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: 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?

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

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Monroe OH Real Estate: 245 Rachel Lane, Monroe, Ohio 45050

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New Listing On LowryTeam.com…

 

245 Rachel Lane, Monroe, Ohio 45050

Monroe, Ohio 45050

Monroe Local Schools

$139,900  – Three Bedrooms – Two Full Baths

This Is A Terrific Ranch Home In Monroe, Ohio:

  • Perfect For The First Time Homebuyer!
  • Warm, Inviting Family Room w/ Cathedral Ceilings
  • Wood Burning Fireplace
  • Fully Equipped Kitchen Includes Newer Dishwasher & Refrigerator
  • Formal Dining Room 
  • Master Bedroom w/ Adjoining Full Bath
  • Large, Flat Rear Yard
  • Storage Shed Included
  • Located On A Cul-de-Sac Street
  • Close To Schools, Shopping & Expressways
  • Washer & Dryer Included
  • One Year Home Warranty
  • Three Car Garage
  • One Year Home Warranty
  • Close To Schools, 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

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