Welcome to Petra's Columbus Real Estate Blog...
what it's like to live, work and play in the Columbus Ohio Area
January 3rd, 2009
If you’re considering buying a home in the Columbus Ohio area, you may want to consider obtaining an FHA mortgage loan. While most first time home buyers I’ve helped buy Columbus Ohio real estate do use an FHA loan, FHA is not only for first time home buyers.
One reason many first time home buyers obtain an FHA mortgage loan when buying a home in Columbus Ohio, is because many of the government grants and down payment assistance programs have been partnered with FHA loans. Currently, most of the first time home buyer down payment assistance programs in the Columbus Ohio area are out of money. Once I receive an update on any new funds for down payment assistance becoming available, I’ll be sure to post it here on my Columbus Ohio real estate blog.
HIGHER FHA MORTGAGE LOAN LIMITS FOR BUYING COLUMBUS OHIO REAL ESTATE
FHA has recently increased their loan limits, which makes their loans even more attractive to a wider variety of buyers. The new FHA loan limits to purchase real estate in the Columbus Ohio area are as follows:
SINGLE FAMILY HOMES = $310,500
BUYING INVESTMENT PROPERTIES WITH AN FHA LOAN:
Buying investment property in the Columbus Ohio area typically requires a minimum of 10-20% down payment. However, if you are an owner occupant (live in one unit and rent out the rest) then you can obtain an FHA mortgage for a 2-4 unit investment property in Central Ohio.
Interest rates are generally higher for investment property loans. Another huge benefit of buying investment property in the Columbus Ohio area, with an FHA loan, is you’ll get the typical market interest rate available to any other FHA buyer. This is truly a great deal! Here’s the new FHA mortgage loan limits for buying investment property in Columbus and Central Ohio.
2 UNITS = $397,500
3 UNITS = $480,450
4 UNITS = $597,100
FHA loans are attractive because they typically require a lower down payment than Conventional mortgage loans, plus credit and qualification standards are more flexible. Currently FHA requires 3.5% down payment, while most conventional loans require a minimum of 5% down. Due to the sub prime mortgage crises, many people who used to be able to get a loan can no longer qualify. FHA mortgage loans are now the best alternative for people who’s credit scores are not high enough to obtain a conventional mortgage.
If you’re interested in buying a home, condo or investment property anywhere in Columbus or Central Ohio, please CONTACT ME at 614-895-0496 anytime from 8am-10pm to get started. I look forward to helping you find your ideal home and obtain the best financing for your needs.
As always I look forward to serving your Columbus Ohio real estate needs.
Petra Hinterschied, ABR
Accredited Buyer Agent Representative
Columbus Ohio Realtor with over $40 Million in Central Ohio Real Estate Sales since 2001.
Posted in Columbus Ohio Home Buying, Columbus Ohio House Hunting, Columbus Ohio Mortgage Info | No Comments »
December 22nd, 2008
Looking For A Great Deal on Worthington Ohio Real Estate?
SHORT SALE DEAL ON THIS 4 BEDROOM WORTHINGTON OHIO HOME FOR SALE ~ PRICE JUST REDUCED $20K TO $149,900. Great Value - Don’t miss out on this wonderful 4 bedroom home in Worthington Schools! This home is currently the only 4 bedroom under $150,000 in Worthington Schools. Now that we’ve reduced the price along with the exceptionally low interest rates - this home the best deal in Worthington Ohio!
Convenient location ~ close to the Polaris Mall, restaurants, Worthington Crosswoods or Rave movie theatres and more!
Since this Worthington home is a bank short sale, it is subject to bank approval and could take up 4-6 weeks for the bank to respond to any offers. A short sale is a pre-foreclosure and allows you the buyer to get a great deal on home without the risk associated with buying a bank owned property. Call Petra Hinterschied, Columbus Ohio Realtor® at 614-895-0496 for details. Since this is a short sale, this home is being SOLD AS IS, however, buyer still has the right to have a home inspection.
This Worthington Ohio home features a spacious and open layout and is in move in condition ~ ready for your family to enjoy! The spacious and open layout in this Worthington Home and the huge 18 X 20 family room make this home perfect for entertaining or large meetings.
The kitchen and dining area are open to the living room. The kitchen has been updated with oak wood cabinetry, neutral laminate counter tops, wood laminate floors, ceramic tile back splash and is fully equipped with a dishwasher, self cleaning gas range and a frost free refrigerator. Window above the sink adds natural light.
The master bedroom could easily accommodate a king size bed and also features a roomy walk in closet.
While this Worthington home could use some general cosmetics, there are many notable upgrades including: ceramic tile & wood laminate floors, granite counter in bath, wood spindled stairs, roomy closets with organizers and a newer roof.
This Worthington home also has a large backyard with some mature trees, complete with a pond and shed for storage. What more could you ask for?
I’ll include a few pictures but to see more details and a virtual tour VISIT: 7623 Yosemite Drive, Worthington Ohio 43085.
-
-
7623 Yosemite Drive, Worthington Ohio 43085
-
-
Dining Room is open to the living room and kitchen
-
-
Kitchen is open to the dining and living room
-
-
Living Room
-
-
Master Bedroom
-
-
Bathroom 2
-
-
Main Bathroom
-
-
-
-
-
To learn more about the Worthington area visit: Worthington Ohio Real Estate and Community Guide.
Posted in Columbus Ohio Home Buying, Columbus Ohio House Hunting, Worthington | No Comments »
October 15th, 2008
Another challenge for the Columbus Ohio real estate market - no more down payment assistance for first time home buyers.
Ohio First Time Home Buyer Down Payment Assistance programs - Temporarily Discontinued - Effective October 13, 2008
I received a memo regarding OHFA - Ohio Housing Finance Agency’s First Time Home Buyer Program which has been providing down payment assistance grants, enabling Ohio first time home buyers to buy a home with no money down in Central Ohio. It appears the financial crisis is now affecting Ohio’s ability to help first time home buyers make buying their first home more affordable. I have had many first time home buyers over the years utilize this program for their down payment and am sad to see this program being discontinued. It will certainly have an impact on the Columbus Ohio real estate market, with even less buyers qualified to buy homes now, especially homes under $150,000.
Here’s the core message from the memo: As the financial market continues to be volatile, the Ohio Housing Finance Agency is unable to meet the needs of first time home buyers because they don’t have the capital to continue providing down payment assistance grant money. The recent elimination of no money down gift loan programs probably increased the number of buyers that were seeking down payment assistance from OHFA, since that was the only other way to obtain down payment assistance money. The Ohio Housing Finance Agency (OHFA) Ohio first time home buyer program volume has been increasing at a rate they can no longer sustain so they have to discontinue providing down payment assistance grants for first time home buyers.
There are now very limited ways for Central Ohio home buyers to buy homes with no money down in the Columbus Ohio area. A few options still remain including: obtain a gift for your down payment from a family member, 100% VA loans for veterans and 100% mortgage loans for medical doctors.
Also HUD has a great program right now where you can buy a HUD home in Central Ohio, with only $100 down plus they’ll provide a $2500.00 repair credit that can be used toward closing costs or repairs. If you’re open to considering a HUD foreclosure home in Central Ohio, it’s a great deal to take advantage of, while it lasts.
GET FREE COLUMBUS AND CENTRAL OHIO REAL ESTATE AND HUD HOME LISTING UPDATES
If you’re interested in buying a home in Central Ohio, I can help make your home search easier by emailing new listing updates from the Columbus Ohio MLS. You’ll get all the details, photos, virtual tours and price change updates too. The Columbus Ohio MLS includes all real estate listings in Central Ohio, by any real estate agent/broker in Central Ohio plus HUD Repo, bank owned foreclosure properties, short sales and more. To get started complete my Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST.
Posted in Columbus Ohio Home Buying, Columbus Ohio Mortgage Info | No Comments »
October 9th, 2008
I’m sure everyone has heard by now the Columbus Ohio real estate market is not the best for sellers in 2008. Columbus Ohio and many Central Ohio suburbs are currently experiencing a “buyer’s market.” Depending on your situation though, it might still be a good time for you to sell your Central Ohio home. For example, if you want to move up and buy another home in Central Ohio, your current home might sell for less than you hope for, but you’re likely to save more on what you purchase because it is selling for proportionately less too.
While some real estate markets in the Columbus Ohio area are certainly doing better than others, in general, homes that are priced appropriately and prepared properly are still selling. If you are serious about selling your home in the Columbus and Central Ohio area read on to learn more about preparing your home. Contact Petra at 614-895-0496 to discuss selling your home in the Columbus Ohio area or visit: ColumbusCastles.com - Learn how Petra can help successfully sell your home in Columbus and Central Ohio.
August 2008 Columbus Ohio Real Estate Market Update for Home Sellers in Central Ohio
Some good news for home sellers in Columbus Ohio! According to the Columbus Board of REALTORS®, Columbus Ohio real estate sales inventory of homes for sale in Central Ohio, has been decreasing throughout 2008. In August 2008, there were 16,975 homes for sale in the central Ohio area, which is 14.2 percent lower than last year at the same time. The average sales price of a home in the central Ohio area is down 4.8 percent from one year ago. However, the average sales price in August was $175,632 approximately 15 percent higher than the average sales price of $152,790 in January 2008! Some areas in Central Ohio are holding their value better than others and are not necessarily experiencing these same declining values.
Should you need to sell your Columbus Ohio home in this current buyer’s market, it needs to be prepared properly, priced appropriately and staged effectively to attract buyers. Based upon my years of experience working with Central Ohio home buyers, I hear first hand what they like and don’t like in homes. I’m going to share some tips to help your home stand out from the competition and be more appealing to buyers in any market.
- PRICE IT RIGHT. Set a realistic price based upon recent comparable sales of homes sold in the last 6 months. Your home’s value has nothing to do with what you paid for it or what the Franklin County Auditor has assessed it at. It is worth what other buyers have recently paid for homes similar to yours and that’s where your home should be priced. If you owe more than it is worth in the current Columbus Ohio real estate market and can’t wait to sell, then you may want to consider a short sale to avoid foreclosure. Call Petra at 614-895-0496 to discuss your options.
- PAINT . . . PAINT AND MORE PAINT!! Paint is probably the cheapest update you can do yourself and it can make your home feel like it’s move in ready inside. You may like red, green and yellow walls or striped wall paper - but what if those colors don’t coordinate with a new buyer’s furnishings? What do you think the chances are that most buyers will have decor that goes with your paint colors? If your walls aren’t neutral - PAINT THEM. If buyers think they have to paint every room in the house - they will feel like the home needs too much work and pass it by in favor of another home that is neutral and feels more ready to move in. Remember, buyers have lots of homes to choose from, in today’s Columbus Ohio real estate market and most will prefer a home that is move in ready over one that needs every room painted.
- DE-CLUTTER. It is important to keep the buyer’s focus on the home not on your family. Remove most of your personal collections, family photos, political statements, etc. These can distract buyers from the important mission that brought them to your home. Remember you want buyer’s to envision their furnishings in your home so they can see themselves living there. They can better focus on where to place their furniture when there’s less of your clutter and excess furnishings in the way.
- UPDATE FLOORING. Dirty, dated or smelly carpet, busy linoleum, worn hardwood floors, cracked ceramic tiles, etc. are a real turn off for buyers. To them it seems obvious that these should be replaced. Either replace it up front or acknowledge they need replaced by offering a flooring allowance. It’s typically best to just replace it up front, if you can afford to because it will make your home feel more updated to the buyer.
- PRIDE OF OWNERSHIP SHOWS. Take care of any glaring repair and maintenance issues. The buyer must establish a sense of trust in your home. Buyers feel more positive about a home when it looks like it’s been well maintained and taken care of.
- SHOWING YOUR HOME. Presentation should be meticulous - your home should be sparkling clean throughout. Make your home feel light and bright with drapes open and lights on. Eliminate any pet, smoke or food odors. If you’re going to use air fresheners or candles, make sure the scent is clean, refreshing and subtle. I’ve been in some homes where the air freshener scent was so strong we could hardly breathe. The right scent can make your home feel more welcoming and relaxing, but the wrong scent can set the tone for buyers to go through the home trying to find out what you’re covering up with such a strong scent.
Showing your home is an important step in winning the heart of a buyer. Remember that buying a home is an emotional decision and buyers use all of their senses to experience your home. A dark interior, unpleasant smell, barking dog, or uncomfortable temperature can eliminate your home from their list. I know your home may not be new like a model home, but your home can still show like one with a thorough cleaning, fresh paint and updated flooring.
- GO AWAY FOR SHOWINGS. It’s not a good idea to be present when buyers come to see your home because they may shorten their time spent in your home feeling like they are intruding on your privacy. Or, they may not feel comfortable discussing your home as freely as they would if you weren’t there. I’ve also seen sellers try to offer certain information they thought was helpful, only to turn the buyer off. Showing your home is not a social visit and it’s best to not make assumptions about what a buyer wants.
REMEMBER - if buyer’s want a fixer upper . . . there are plenty of Columbus Ohio foreclosure properties in the Central Ohio real estate market they can get for a bargain. Unless you want to sell your home at a bargain, it should be in move in condition. The current Columbus Ohio real estate market is for SERIOUS SELLERS ONLY!
The Columbus Board of REALTORS® Multiple Listing Service (MLS) includes real estate listings and sales data for all of Franklin, Delaware, Fayette, Madison, Morrow and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, Pickaway and Ross Counties.
Posted in Selling Homes in Central Ohio, Uncategorized | No Comments »
October 3rd, 2008
Columbus and Central Ohio HUD home foreclosure update
The Columbus Ohio real estate market offers a wide variety of homes for sale, including HUD Repo and bank owned foreclosure properties. Since buying HUD Repo, bank short sale and bank foreclosure properties is so popular in the Columbus Ohio area, I thought I’d share this update on a great program to buy HUD homes in Columbus and Central Ohio for ONLY $100 DOWN. FHA has extended the $100 HUD Repo Program that allows borrowers to purchase HUD-owned properties.
The Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) are extending the Sales Incentive Program in Ohio, for OWNER OCCUPANTS only. This Ohio HUD program offers huge sales allowances for owner occupants:
- Buy HUD homes for ONLY $100 DOWN PAYMENT
- Buyers using FHA receive $2,500 at closing to use on repairs, closing costs or to lower their mortgage amount.
- Buyers can obtain up to 3% in seller paid closing cost assistance.
Many HUD homes in Columbus and Central Ohio that I’ve seen typically need work. So it’s important to note that in addition to requiring only a $100 down payment for HUD homes, borrowers may also obtain financing up to 110% of the loan amount to have extra money for repairs. Appraiser-required repairs up to $5,000, all closing costs and pre-paid expenses may be financed up to 110% of the lesser of the appraised value or purchase price.
ALL COLUMBUS AND CENTRAL OHIO HUD HOMES ARE LISTED ON THE COLUMBUS OHIO MLS
The Columbus Ohio MLS - Multiple Listing Service is a database of real estate listings in Columbus and Central Ohio used by all Columbus Ohio REALTORS, who are members of the Columbus Board of REALTORS, to post their real estate listings. Since HUD homes are listed by Columbus Ohio Realtors, you’ll find them listed on the Columbus Ohio MLS. In fact, Columbus and Central Ohio HUD homes are not available to bid on until they are posted on the Columbus Ohio MLS and you must go through a REALTOR to place your bid.
In addition, banks also list their foreclosure properties with Columbus Ohio Realtors. So you’ll find bank owned foreclosure properties listed on the Columbus Ohio MLS - Multiple Listing Service as well.
As a Columbus Ohio REALTOR, I have access to all HUD homes in Central Ohio.
As a full-time REMAX Columbus Ohio Realtor and Accredited Buyer Representative, I’d be happy to help you find your ideal home - whether it’s a HUD Repo, bank foreclosure, short sale or negotiate to get you a good deal on any home listed for sale in Central Ohio. Plus, I’ll look out for your best interests throughout the process, AT NO COST TO YOU. That’s right - it doesn’t cost anything to have a buyer’s agent working for you.
GET FREE COLUMBUS AND CENTRAL OHIO HUD HOME LISTING UPDATES
I can set up a search to email you with any new HUD Repo, bank owned foreclosure properties, short sales and more - the same day they come on the market. Just share information about what you are looking for by completing my Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST to get started.
You can also search the Columbus Ohio MLS for all Central Ohio Real Estate listings on the internet at www.columbuscastles.com/search-columbus-mls
Posted in Columbus Ohio, Columbus Ohio Home Buying, Columbus Ohio House Hunting, Columbus Ohio Mortgage Info | No Comments »
August 29th, 2008
One of the first things people relocating to Columbus Ohio often ask me is what’s the weather like in the Columbus Ohio area? People relocating from warmer areas like Florida, Georgia, Alabama and Texas are especially curious about winter weather in Columbus. I’ve had others who relocate to Columbus Ohio from New York, Boston and Chicago areas who wonder how our weather throughout the year compares to theirs? So I’m sharing information from various sources, to give anyone relocating to Columbus Ohio an idea of what our weather is like throughout the year.
Columbus Ohio Weather Offers 4 Seasons for Variety
One of the most wonderful features of our weather in Columbus Ohio, is the fact that we have four seasons. While Columbus Ohio winter weather is not really extreme, since I’m not a cold weather person at all, I most enjoy three out of the four seasons in Central Ohio. Now of course I do enjoy a white Christmas, but other than that, I prefer Spring, Summer and Fall over winter in Columbus Ohio. My son, Isaac, on the other hand enjoys sledding in the snow and creating various snow creatures, so he looks forward to snowy weather. So I’ll start with my favorite season - Spring.
Spring officially starts around March 20 in Central Ohio. March weather in Columbus Ohio really varies. Some years winter tries to linger and it’s not unusual to have one final snow storm in March or rarely in April, before spring can take hold permanently. As the temperatures are warming up, any snow on the ground is typically gone in a day or two. Spring is one of the most beautiful times of the year in Central Ohio because everything is so fresh and green from the spring rain. It’s also my favorite time of the year because there is something so refreshing as you sense the warmth in the air that intends to stay for a while. There’s a certain excitement in the garden in anticipation of seeing what perennial is going to magically pop out of the ground each day and then finally the tulips and daffodils come into full bloom. Spring in Central Ohio is such a wonderful experience to savor. Here’s the “normal” spring temperatures in the Columbus Ohio area.
March: Hi: 51º, Low: 32º, Average: 42º
April: Hi: 63º, Low: 41º, Average: 52º
May: Hi: 73º, Low: 52º, Average: 62º
While these are the normal temperatures, you’ll certainly see some days warmer or cooler than these. I’ve experienced much warmer temperatures, even in the 70’s for April. The Hi is what you’d see during the day and the low is more night time, as things tend to cool down quite a bit once the sun disappears. This applies to any season in Central Ohio.
Summer in Columbus Ohio officially starts around June 20, however, warmer weather typically arrives in May. Swimming pools open Memorial Day weekend and close on Labor Day in September. June and September offer the ideal weather to me, because it’s less humid and comfortable temperatures so you don’t really need air conditioning. The really hot, humid weather tends to be in July and August and that’s when Isaac and I head to Alum Creek Beach to cool off (Yes we have a beach in Central Ohio). Here’s the “normal” temperatures. However, July and August often experience temperatures into the 90’s.
June: Hi: 82º, Low: 61º, Average: 71º
July: HI: 85º, Low: 65º, Average 75º
August: HI: 84º, Low: 64º, Average: 74º
Fall officially starts around September 22, however, the fall colors typically peak in October and November. Fall in Columbus Ohio is such a soothing, peaceful and comforting time of year. The weather slowly starts cooling down as the beauty of the changing fall colors explode. The changing landscape offers an opportunity to slow down after the hustle and bustle of summer to reflect on the significance of life. Of course, Ohio State Buckeye Fans look forward to Fall as the long awaited OSU football season kicks off. GO BUCKS!!! (PS - I’ve been trying to teach Buckeye, my African Grey Parrot, to say GO BUCKS, so far he’s loving the sound of hubba bubba Buckeye better. Maybe someday he’ll get it.) I’ve seen temperatures in the 70’s in October and 80’s in September, but here’s the normal temps.
September: Hi: 77º, Low: 56º, Average: 67º
October: Hi: 66º, Low: 44º, Average: 55º
November: Hi: 53º, Low: 35º, Average: 44º
Winter in Columbus Ohio officially starts around December 21. Who doesn’t enjoy the magical feeling of a white Christmas? Yes we get snow in Columbus Ohio in the winter. The funny thing is, it’s inconsistent enough that if we get more than say 4-6″ at a time, everything shuts down. Schools are closed, the authorities issue a snow emergency and people forget they know how to drive. Isaac just loves snow days . . . a chance to stay home and play in the snow all day with Berkeley, our Schnoodle and the neighbor kids. Columbus is unlike Northern Ohio, where they get Lake effect snow throughout the winter - so they’re used to it. Since our temperatures fluctuate a lot in the winter, when we get snow, it typically doesn’t stay on the ground too long. Here’s the normal winter temperatures:
December: Hi: 41º, Low: 26º, Average: 34º
January: Hi: 36º, Low: 20º, Average: 28º
February: Hi: 40º, Low: 23º, Average: 32º
Natural Disasters in Columbus Ohio
I’ve had several people move to Columbus Ohio from Florida because they are tired of the hurricanes and storms. So they often ask what natural disasters occur in Columbus Ohio? I’ve lived in the Columbus Ohio area since 1969 and I cannot remember there being a tornado that has caused any damage. There have been tornadoes in other parts of Ohio and from what I understand they tend to hit more rural areas rather than the city.
Minor flooding has occurred in few isolated areas, but it’s not really a problem all over Central Ohio. Blizzards are not common, but we have had two that I can remember. I can remember the Columbus Blizzard of January, 1978 when I was a kid as being the worst. I guess there was several inches of snow that fell in Columbus Ohio within 24 hours, but it was the blinding winds and below zero temperatures combined that turned this snow storm into a blizzard. There were lots of power outages and people were stranded in their homes without heat. I remember the Ohio National Guard rescued our family from the freezing cold and took us to a local recreation center to stay warm for a few days until power could be restored.
Columbus Ohio had another blizzard in March of 2008, which didn’t cause major power outages and only caused roads to be closed for a day or two. The Blizzard of March 2008 consisted of a 15.4 inch record snow fall, in a 24 hour period, recorded at Port Columbus Airport and about 20.4 inches of snow piled up altogether. However, since it was March, it quickly warmed up after the storm and melted the snow. So this was nothing like the Blizzard of 1978. Snow storms of this magnitude are quite rare in Columbus Ohio.
Relocating to Columbus Ohio?
If you’re planning to move to the Columbus Ohio area, please CONTACT Petra at 614-895-0496, to receive a custom Columbus Ohio Relocation information package filled with extensive Central Ohio community information, Columbus Ohio Map with suburbs of Central Ohio, CD community tour and more. As an experienced Columbus Ohio REALTOR®, Petra can make relocating to Columbus Ohio easier!
*Weather statistics have been compiled from various sources like accuweather and NOAA, to give you an idea of what Columbus Ohio weather is like. Keep in mind, I do not guarantee the accuracy of this information and mother nature has a mind of her own that no one can totally predict. I have shared this information only to help give you an idea of what it’s like to live in Columbus Ohio.
Posted in Columbus Ohio Home Buying, Columbus Ohio House Hunting, Columbus Ohio Relocation Info | No Comments »
August 26th, 2008
ATTENTION FIRST TIME HOME BUYERS . . . YOU CAN STILL BUY A HOME WITH NO MONEY DOWN LOANS IN COLUMBUS OHIO.
You may have heard about the Housing and Economic Recovery Act of 2008, which passed in July. While there are many good points to this bill, you know the government had to throw some bad ideas in there too. Supposedly this new law is intended to help prevent foreclosures, restore home values and stabilize housing markets. Here’s what you need to know about buying a home with no money down loans in Columbus Ohio.
FHA ZERO DOWN MORTGAGE LOAN PROGRAMS GOING AWAY
What were they thinking? Among the key provisions of the bill, the program that allowed sellers to provide down payment assistance to buyers through Down Payment Assistance (DPA) programs such as Nehemiah and AmeriDream, will be eliminated October 1, 2008. Buyers will still have the ability to obtain a gift for their down payment from a relative, which is what many buyers relied upon, before DPA programs existed.
HURRY - YOU CAN STILL BUY WITH A ZERO DOWN MORTGAGE UNTIL SEPTEMBER 30, 2008
If you are thinking about buying a home in the Columbus Ohio area in the next year and were hoping to buy with a no money down home loan, now’s the time to move. I have a very reputable mortgage broker in Columbus Ohio who can process a loan in 2-3 weeks, so there’s still time to get a no money down loan. Call Petra at 614-895-0496 today to get started!
TO LEARN MORE ABOUT BUYING A HOME WITH NO MONEY DOWN IN THE COLUMBUS OHIO AREA VISIT: ColumbusCastles.com/Buyers_nomoneydown
GOOD NEWS FOR FIRST TIME HOME BUYERS IN OHIO
While ZERO DOWN mortgage loans are going away for most FHA home buyers, there is still a program for first time home buyers in Columbus Ohio to buy a home with no down payment. OHFA, The Ohio Housing Finance Agency provides Ohio Bond Money, a 3% down payment assistance grant or a 2nd mortgage to cover the down payment. Anyone who hasn’t owned a home in the last 3 years, within certain income guidelines may qualify. Plus the Ohio Heroes program offers lower rates for qualified buyers including veterans, firefighters, police, teachers and health care workers.
GOOD NEWS FOR VETERANS
Veterans who qualify for a VA loan can still buy with a NO MONEY DOWN MORTGAGE LOAN as usual. I have a very experienced mortgage broker who’s been providing VA loans in Columbus Ohio for many years that I can refer to you - just call me at 614-895-0496 to get started. The Bill also contains provisions to help returning soldiers avoid foreclosure including lengthening the time a lender must wait before starting foreclosure from 3 to 9 months after a soldier returns from service.
GOOD NEWS FOR OHIO DOCTORS WHO WANT TO BUY A HOME WITH NO MONEY DOWN
I know a lender who offers zero down physician home loans this is a conventional no down payment mortgage for doctors, with no mortgage insurance. This is a great deal because this no money down mortgage for doctors in Ohio also offers competitive interest rates and no mortgage insurance.
GET FREE BUYER REPRESENTATION
CALL PETRA AT 614-895-0496, to make your home search easier - AT NO COST TO YOU! I only work with reputable mortgage brokers, lenders and bankers in Columbus Ohio and would be happy to refer you to the best lender for your situation so you can buy a home with no money down and I’ll help you find your ideal home in the Columbus Ohio area too.
SIGN UP FOR PETRA’S FREE COLUMBUS OHIO HOME FINDER SERVICE - to get real estate listing updates via email the same day they come on the market - with all the details including pictures and virtual tours CONTACT PETRA TODAY AT 614-895-0496.
TO LEARN MORE ABOUT BUYING A HOME IN THE COLUMBUS OHIO AREA VISIT: ColumbusCastles.com/Buyers
Posted in Columbus Ohio, Columbus Ohio Home Buying, Columbus Ohio House Hunting, Columbus Ohio Mortgage Info | 1 Comment »
July 25th, 2008
The media seems to be thriving on publishing so much negative hype about the real estate market, that I thought I’d clarify by sharing a little about the Columbus Ohio Real estate market in particular. But I’m wondering if my title “The End of The American Dream” scares you enough to want to read on? Or does it paralyze you into thinking you should just sit still and not make a move until this storm blows over? Perhaps that’s the phenomenon the media is feeding into?
While I know there are many areas in the United States that have much worse real estate markets than we do here in Columbus, I’m betting that overall it’s not nearly as bad as the media keeps publicizing. I guess they think the American public would rather focus on all the negative like they do? Don’t they think we can handle the truth? Or maybe the media can’t handle the truth because it doesn’t sound as sensational or they think it won’t sell as much? Since it seems like a “so called good story” is more important to the media than telling the truth, I have a hard time believing anything they say. So it seems like the media needs to learn how to do a better job and figure out a way to provide good stories - while still telling the truth. But I guess that’s a whole different story that I won’t focus on any further here.
The truth is real estate is local and all they really should be focused on is talking about the local real estate market as it pertains to specific areas instead of making it sound like their story applies to every market in the US. Here in Columbus Ohio, real estate is selling and inventory levels continue to decline.
The Columbus Board of REALTORS® reported on June 26, 2008, that home sales in the Columbus Ohio area continue to increase each month and that presents a healthy picture of the Central Ohio housing market. As a matter of fact, 2,064 homes sold in May which was a 15.7 percent increase over the number of sales in May 2008. While there is still a large inventory of homes for sale in Columbus and Central Ohio, low interest rates and competitive pricing continue to fuel the Columbus Ohio real estate market. Now maybe I’m crazy, but I think the fact that over 2,000 Central Ohio homes sold in May 2008 alone, sounds like good news? So I’m doing my share to spread this good news.
As a matter of fact, I had a new real estate listing in Northwest Columbus, Upper Arlington area that went into contract in less than 30 days on the market at 97% of the list price. I know first hand when homes are properly prepared and priced competitively they are still selling. In this Columbus real estate market homes need to be in the best condition possible to sell quickly.
In May of 2008 there were 17,900 homes for sale in the Columbus Ohio area, which is a little over 5 percent fewer than May of 2007. There were 4,703 homes added to the market in May which is 8 percent lower than the 5,118 homes listed in May of 2007. The average list price of a home for sale in May was $173,826 which is 3.8 percent lower than the average list price of a home in May of 2007. So the average sales price in May of 2008 was $168,345, almost 4 percent lower than May of 2007. Year to date sales of new and existing homes sold January through May of 2008 total 8,367 which is 14.1 percent behind the 9,737 sales during the same time period in 2007, but only 3 percent behind the Columbus real estate market’s pre-boom period (prior to 2003).
The Columbus Board of REALTORS® just came out with June 2008 statistics which show the Central Ohio housing market is continuing to stabilize. While there were slightly more homes on the market in June 2008 versus June 2007, so far this year there is a 9.2 percent decrease in total homes on the market.
According to Greg Hraback, President of the Columbus Board of REALTORS®, the first half of 2008 has seen increasing home sales and there were 8.6 percent more homes sold in June than in May. Total new and existing homes sold through June of 2008 is 10,667, 14.3 percent behind June 2007’s total of 12,444, but less than six percent behind sales in the market’s pre boom period, during the first half of 2003.
I think the best news is that Central Ohio sales values increased in June 2008 over 7 percent compared to May for an average home sales price of $180,399.
I’ve included a chart provided by the Columbus Board of REALTORS® with the latest sales statistics comparing June 2008 to June 2007 and year to date real estate sales in Columbus and Central Ohio. These sales stats include not only Columbus but all Central Ohio real estate sales for suburbs of Columbus: Bexley, Blacklick, Canal Winchester, Clintonville, Downtown Columbus, Dublin, Gahanna, German Village, Grandview Heights, Granville, Grove City, Groveport, Hilliard, Lewis Center, New Albany, Pataskala, Pickerington, Powell, Reynoldsburg, Short North and Victorian Village, Upper Arlington, Westerville, Whitehall, Worthington as well as Franklin County many of the surrounding counties.
There are some areas in Central Ohio that are doing better than others and I’ve recently included a story showcasing how quickly homes in good condition seem to be selling in Clintonville, Bexley, German Village, Westerville and Worthington Ohio, just to name a few. The areas that seem to have slower sales and have also been hardest hit with foreclosures are those with newer homes where predatory lending practices prevailed - but that’s a whole another story that I won’t get into here.
Since inventory levels are still plentiful, interest rates are still reasonable and there are great no money down loan programs for first time home buyers, now is still a great time to buy a home in Columbus and Central Ohio. Who knows how long the no money down loan programs will still be around, so you should take advantage of this great opportunity while it’s here.
Overall I’d say if you’re not serious about selling, there’s no point in putting your home on the market right now. If you are not willing to properly prepare and price your home for the current market, you’ll only end up frustrated when your home doesn’t sell. As always, if you’d like an honest opinion about selling your home in Central Ohio, please don’t hesitate to call me at 614-895-0496, for expert advice.
As an experienced Columbus Ohio REALTOR® with over $45 million in real estate sales all over Central Ohio, I can help determine your home’s value in the current Columbus Ohio real estate market and make suggestions to improve your home’s condition making it more appealing to buyers. Visit: columbuscastles.com/sellers to learn more about my services for selling your home in Columbus and Central Ohio.
Posted in Columbus Ohio, Columbus Ohio Home Buying, Columbus Ohio House Hunting, Selling Homes in Central Ohio | No Comments »
July 18th, 2008
Check out this new Worthington Ohio real estate listing: Single family home at 7623 Yosemite Drive in Worthington Ohio 43085. What a value for a 4 bedroom home in Worthington Schools! Great location close to Worthington Galena and Park Road - less than 5 minutes to the Polaris Mall, Grace Brethren Church and I270 & 23.
Worthington Schools are currently rated continuous improvement by the Ohio Department of Education. However, they have some of the highest test scores among Central Ohio Schools. They met 29 out of 30 state indicators and achieved 102.4 out of 120 performance index points. There aren’t many school districts in the Columbus Ohio area that have over 100 points, so their scores are better than average. If you’d like to learn more about living in Worthington visit: Worthington Ohio Real Estate, Relocation, Schools and Community Guide.
This is not your typical bi-level home. It offers a spacious and open layout with updated kitchen and baths and overall the home is in move in condition. Highlights include:
- Huge 18 X 20 foot family room - perfect for entertaining or large meetings
- Kitchen equipped with a dishawsher, self cleaning gas range, oak wood cabinetry, wood laminate floors, ceramic tile backsplash and a window above the sink adds natural light.
- 2 car attached garage - with easy access to the main level
- Living room is open to the kitchen and dining area.
- Upgrades include ceramic tile & wood laminate floors, wood spindled stairs
- Roomy closets with organizers
- Plenty of storage space too
- Bathroom 1 is updated with granite counter, brushed nickel faucet, wood laminate floors, tub/shower combo with cultured marble surround
- Master bedroom has a large walk-in closet
- Newer roof
- Kids and pets alike will enjoy roaming in the large, private backyard complete with a pond. Lot is about 180 feet deep!
I’ll share a few of the photos of this updated Worthington home below, but if you’d like to see all the details and a virtual tour in a much prettier format, visit: http://www.columbuscastles.com/petras-featured-homes/featured?id=2830097
Posted in Columbus Ohio Home Buying, Columbus Ohio House Hunting, Worthington | No Comments »
June 21st, 2008
This is a buyer’s market right? The media keeps publicizing how bad the real estate market is all over the US. So how is it possible that I have come across 4 multiple offer situations in the last month here in Columbus Ohio? Let me share a little more about each scenario to give you a better idea of what the real estate market is really doing here in the Columbus Ohio area.
Client number 1: I’m working with a couple who just recently sold their home in Indiana and are now ready to buy their next home in the Columbus Ohio area. They love older vintage style homes with lots of character, charm and hardwood floors in walking type communities. The husband is a resident at Mount Carmel and Saint Ann’s Hospitals. The wife will be going to OSU to complete the Internal Medicine program. So they wanted areas convenient to Downtown, OSU and Westerville. They decided to look for older homes in the Bexley, Clintonville, German Village and Worthington areas.
We had found a home in Clintonville that they just loved and were ready to make an offer on when it went into contract. There was one other home in Clintonville and 2 homes in Bexley that they also liked and all three went into contract at the same time. All of these homes had been on the market for less than 2 weeks. Even though there is plenty more on the market, most of the other homes are not nearly as nice so they decided to just wait until something new came on the market. Three days ago a new real estate listing came on the market in Bexley and we went to see it right away. It was the perfect home for them so we made an offer right away before anyone else had a chance! They are now very happy to be in contract on this cute cape cod home in Bexley!
Client number 2: I’m working with another couple who have their current home in contract and has to move by the end of July (I’m selling their current home in the OSU/Upper Arlington/Riverside Hospital area). The husband works at Chase in the Polaris/Lewis Center area and the wife works in Westerville. They are also very active in their church which is located just North of the OSU Campus area so they wanted to buy a home somewhere in between these areas. We have been looking for homes in the Clintonville, Worthington and Westerville areas. They’re expecting their 2nd child, so modern day conveniences like a finished basement, 1st floor den and 2 car attached garage are important to them.
They quickly realized you can get a much nicer home for the money in some well established neighborhoods in Westerville. We found their ideal home in Westerville last Saturday. We went back on Monday to see it a 2nd time and were ready to make an offer on it and found out they already had another offer that they were ready to accept. So we quickly made our best offer on this home too, but the seller decided to take the other one because it came in first. This home had been on the market for less than 2 weeks.
Client number 2 again: Okay - I mentioned that I’m also selling their home which is located in the Cranford Subdivision in Northwest Columbus (Upper Arlington, OSU and Riverside Hospital area). Here’s a link to that Northwest Columbus Ranch Home. I always try to provide staging and home preparation advice to my clients who want to sell their home because I know that homes in the best condition sell quicker and for more money. So this client took the time to properly prepare their home for the market. This particular area of Columbus is very popular due to it’s convenient location, on the edge of Upper Arlington, plus it’sclose to OSU and Riverside Hospital. In addition, you can get to Downtown Columbus in about 10 minutes. However, I’ve still seen some homes sit on the market a while in this area, when they are not properly prepared.
Since this home was properly prepared for the market, we experienced lots of showings. After about 2 weeks on the market, we received an offer from someone who is planning to go to graduate school at the Ohio State University (OSU). We had started negotiating with this client when a 2nd offer came in. The sellers had to decide which offer they wanted to take and decided to stay with the first buyer because they agreed to take the home as is. This was appealing to the seller because they are ready to move on to their next home and don’t want to bother with any more repairs on their current home.
Client number 3: I’m working with another couple who are first time home buyers. The husband works in Downtown Columbus and the wife works in the Worthington area. So they’re looking for homes in Worthington, Dublin, Westerville and Gahanna areas. They have some pretty specific needs in their first home - a fenced in yard for their dog and some separate living space for her Dad who is planning to move in with them. So we found a cute ranch home in Gahanna that offered a nice large basement that they planned on finishing for a mother in law type suite for her Dad. Only problem, 2 other people wanted the same home at the same time. That’s right - this home had 3 offers at the same time. Unfortunately, our offer was not the chosen one. My clients offered the most they could afford and that obviously wasn’t enough.
In October of 2007, Forbes ranked the Columbus Ohio real estate market the 3rd most stable in the US. I find that homes are still selling well in many areas of Central Ohio. I think the key in the three homes in Bexley, Clintonville and Westerville mentioned above, is the homes went into contract quickly because they were all in good condition, properly prepared/staged and priced right for the current market. I always say that homes in the best condition will sell more quickly and for more money. Visit http://www.columbuscastles.com/sellers, to learn more.
There are some areas of Columbus and some Central Ohio suburbs that are not selling as quick, but that certainly is not the case everywhere. Some of the areas that are struggeling the most are areas with newer homes that were developed too quickly. Also in some of those newer developments, builders are still building. So it’s very challenging to try and sell your home and compete against the builder’s buyer financing incentives.
Overall, you’ll find the Columbus Ohio real estate market to be doing much better than many other parts of the US and even other areas in Ohio. If you’re interested in buying or selling a home, I’d love to work for you. Please CONTACT PETRA at 614-895-0496 anytime from 8am-10pm EST for personal assistance with your Columbus Ohio real estate needs.
Posted in Bexley, Clintonville, Columbus Ohio, Columbus Ohio Home Buying, Columbus Ohio House Hunting, German Village, Grandview, Selling Homes in Central Ohio, Worthington | No Comments »
