Not good news for condo owners

http://www.dispatch.com/live/content/business/stories/2009/10/19/New_Condo_rules.ART_ART_10-19-09_A10_N7FCOV9.html

I wonder if the new rules that are set to go into effect in a few short weeks can be changed before 11/2! If not, it's going to be incredibly tough for first time home buyers to purchase a condo using FHA financing, which is the majority of first time home buyers!!

New listing near Grove City!!

http://amberherbster.vflyer.com/home/flyer/home/2885946

Do you smoke in your home?

If you do, and you're thinking of selling anytime in the next few years, I would strongly encourage you take it outside. I walked into a home with some buyers a few weeks ago, and it smelled like the sellers had just smoked, moments before our scheduled showing. Unfortunately for the sellers, we weren't in the house for more than 30 seconds before we turned around and walked out. I couldn't even tell you what the house looked like, the odor was so distracting. The remnants of smoke odor can be detected for many years; that smell isn't easy to get out, even with new flooring & paint. With the current market situation, do yourself a favor, and at least give buyers a chance to fall in love with your home!

Even MORE good news for first time home buyers!

Details were just announced today that FHA will allow buyers to utilize their $8,000 tax credit at closing, to put down more than the required 3.5%, reduce closing costs or buy down their interest rate. Click below to read the full story! Contact me today to see how you can benefit from this!

http://www.realtor.org/press_room/news_releases/2009/05/tax_credit?lid=ronav0019

Conditions really couldn't get any better for first time home buyers, so happy house hunting!

Local housing market vs. National housing market

Just a little rant about something's that been bothering me for some time now! Why, oh why, does the majority of our local media give the national housing market so much attention, with very little focus on our local housing market? Yes, the national housing market is, and should be, of interest to many, but I think that you'd also like to know what's going on in your area of Columbus, maybe even more so, right? There are many local resources these media outlets could be utilizing to gain insight to our local market, including CBR (the Columbus Board of Realtors), and local industry professionals, such as myself, yet it seems like most of what you hear is the doom & gloom of the national housing market. I've seen first hand that our market isn't all bad here in Columbus and the surrounding areas. Yes, there are some areas that are still reporting decreasing property values, but on the flip side, some areas are showing increasing property values, and homes (taking into consideration price, location & condition) can and are, still selling, sometimes in under 30 days. I think the $8,000 tax credit currently offered may be partially responsible for this, and perhaps made some buyers seek out housing, when they may have previously planned on waiting another year or so before purchasing.

Contact me if you'd like more information on your specific area!

Super Sunday tomorrow from 1-4!

The CBR (Columbus Board of Realtors) is sponsoring an event tomorrow featuring 250 + open houses on properties all listed under $125K in the central Ohio area and the surrounding counties! Look for the "Super Sunday" Open House signs. Check The Dispatch tomorrow for a listing of the featured properties! Take advantage of the $8K tax credit!

See how the tax levies on the May 5 ballot may affect you!

The Franklin County Auditor's office can give you an estimate as to how these levies, if passed, will affect your real estate taxes. Check it out!

http://franklincountyoh.metacama.com/altIndex.jsp

BIA's Parade of Homes 2009

This year's Parade of Homes will take place July 11 - 26 at Tartan Ridge in Dublin, Ohio.

http://www.biaparade.com/ for more info.!

Record low interest rates

As of late last week, 30 year fixed mortgages hit another all time low (since tracking began in 1971 anyway) at 4.85%! Still a great time to buy, if you're in the position to do so! I anticipate seeing lower interest rates for a good part of 2009!

How long should it last?

The NAHB (National Association of Home Builders) recently did a study regarding how long the components of a house should last. "The true longevity of any household material depends on maintenance, use, quality of installation & climate conditions." Keep in mind you should only use these averages as a general guideline! Here are just a few of the items that the study reported on:

100 Years or More
Brick exterior - lifetime of the home
All wooden floors - lifetime of the home

50 - 100 Years
Slate roofs - 50+ years
Kitchen cabinets - up to 50 years
Vinyl floors - 50 years

30 - 50 Years
Thermostats - 35 years
Wood windows - 30 years

10 - 20 Years
Aluminum windows - 15 - 20 years
Asphalt shingle roofs - 20 years
Faucets & kitchen sinks - 15 years
Gas ranges - 15 years
Dryers & refrigerators - 13 years
A/C Units - 10 - 15 years
Electric or gas hot water heaters - 10 years
Furnaces - 15 - 20 years

5 - 10 Years
Heat & smoke detectors - 5 - 10 years
Dishwashers - 9 years
Microwaves - 9 years
Carpet 8 - 10 years

Information courtesy of Realtor magazine, February 2009.