West Chester & Liberty Township OH Real Estate: Home Values

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Everywhere you look these days there is news on home values.  It’s in newspapers, like the Cincinnati Enquirer, it’s on the web on sites like CNBC.com and USAToday.com and many others. Some is positive news and some news is very negative.

There are somethings to keep in mind here before you go off the deep end regarding your homes current market value.  The first is, don’t forget your basic math. Average sale prices have been going up in some areas, down in others. The average sale price is the just the value that occurs when all of the sales that occur in a given market are added up and divided by the number of sales. For example, if 100 homes have sold for a total sales volume of  $16,570,000. the average sale price would be $167,500. This simply represents the average of all of the homes that have sold and does not establish anything remotely close to a property’s value.

The second thing to remember is, when you hear these national news reports and economists discussing the rising or falling home prices, they are talking about national averages and these have nothing to do with our market values in West Chester, Beckett Ridge, Liberty or Fairfield Township areas.

These national reports are very much like getting a national weather forecast.  The average temperature in the United States tomorrow is not likely going to effect your life very much.  What you want to know if what the weather is going to be here tomorrow and if you are concerned about your homes value, you need to know the market data for our area, not some large metro area or state or country.

The best way to determine the value of your home is to get it analyzed by an experienced real estate professional. There are many factors in determining home values today and picking an average out of the air could hinder the sale of your home and frankly could cost you money. In today’s real estate market it is more important than ever to price your home appropriately.

If you would like to learn the current market value of your home you can request it here!

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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: To Rent or To Buy, That is the Question

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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!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

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

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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

West Chester Ohio Real Estate News

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West Chester Ohio Real Estate News :: Avoiding Closing Derailment

Like a train, a transaction can get derailed at any point on the track. A closing can be hit by a clouded title, a home not appraising for value, a rapid change in interest rates, an undisclosed credit or income issue, or one of countless other unanticipated issues.

Choke points cause delays and delays cause all kinds of problems for buyers, sellers, and agents. Moving plans get thrown into disarray. Interim housing or early-possession requests become necessary. Contingency plans need to be thrown together. Nerves get jangled. The resulting situation can be a nightmare for everyone involved in the transaction.

Eighty percent of the problems in closing transactions fall into three basic areas. Stay on the lookout for these problems to steer your home buying or selling experience clear of as much trouble as possible:

1. Documentation and verification: Lenders needs to assemble considerable paperwork and complete dozens of documents based on information submitted by the loan applicants. Then they need to verify all information for accuracy by checking the applicant’s employment status, funds on deposit, and income level. The document preparation and information verification process takes time. If you fail to submit the required information on a timely basis, or if you turn it in piecemeal and bit-by-bit, delays are certain to result.

2. Repairs, repairs, repairs: This is a choke point that good advance planning can avert. Sellers should consider that only lender-required repairs will be done. If you don’t, you leave yourself open to the risk that the buyer will come back with a laundry list of items…

 Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

Liberty Township, Ohio Real Estate: New Listing In Summerlin!

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New Listing On LowryTeam.com…

 

 

5212 Sunrise View Circle, Liberty Township, Ohio 45044

Liberty Township, Ohio 45044

Lakota Schools

$225,000  – Four Bedrooms – Two Full Baths, Two Half Baths

This Is A Terrific Two Story Home In Liberty Township, Ohio:

  • Summerlin Subdivison!
  • Pool Community
  • Two Story Foyer
  • Warm, Inviting Family Room w/ Gas Fireplace
  • Island Kitchen w/ Adjoining Morning Room
  • Formal Living & Dining Rooms
  • Professionally Finished Lower Level  w/ Half Bath
  • Large Master w/ Adjoining Garden Bath
  • Second Floor Laundry
  • Fenced Rear Yard
  • New Oversized Patio
  • All Appliances Included
  • One Year Home Warranty

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