Central Ohio Real Estate Cafe'

There  has been lots of discussion and articles this week indicating HUD would allow buyers to use their future tax credit of 8000.00 as a DOWN PAYMENT but as indicated below, the Fed's reversed that decision, therefore, buyers would not be able to get an advance on their tax credit for down payment.  The concern was this was no different then the "seller down payment assistance program" that was eliminated as of 1/1/09..

For more Info CLICK HERE

Stay tuned I am checking with OFHA to see how that will affect the programs they are currently offering.

 Why the Stimulus Makes this a Fantastic Time to buy Real Estate

You have heard it a thousand times...Now is a great time to buy over and over.  You know they are right and you are ready to take the plunge.  Finally you have the right job and your credit is in good shape.  So what is holding your back?  More often than not it is the down payment money. The current Columbus financial market is requiring 3.5% for FHA and 5% for conventional.  It is important to understand that you will need to save money.  However, there are still options out there to assist you with Down Payment.  In this post we will explore three ways that you can get down payment money to help you purchase that dream home.

Look To Those Who Can Help

Here in the Columbus Area we are fortunate to have several programs that can assist with down payment money.  The resources are limited so they are usually first come first served.  Most require that you meet specific income guidelines and that you participate in a home buyer's education course.  A few local organizations that provide down payment assistance include The Columbus Housing Partnership, Homes on the Hill and Mid Ohio Regional Planning Commission (MORPC).   

Recently, the Ohio Housing Finance Authority announced the availability of a program that will allow qualified buyers the opportunity to use some of the $8000 tax credit money towards down payment and closing cost. 

Ask Your Rich Uncle

Uncle Sam will allow you to use up to $10,000 of your IRA funds as a down payment.  If you are married and both of you are first time home owners you could potentially take up to $20,000 from your accounts.  There are details that may even allow you to use these funds, without penalty, even it this is not your first home.  As always, do your research and check with your tax accountant for details on your specific situation.

Borrow From Your Self

What better creditor than yourself?  If you have a retirement plan with your company you may consider borrowing against your 401K.  Unlike tapping into your IRA, this will be money you will need to pay back; however, the interest payments on the loan will be going back to your 401K.  There are down sides to borrowing from your 401K, so do your homework.  Just as with your IRA you will need to check with your accountant for advice on your personal finances. 

Now is the time to buy and if you have questions regarding down payment of any other real estate questions call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

For more down payment info:

$8000 Dollar Tax Credit = Down Payment Assistance Hurry Limited Funds!!!

How Does HUD's $100 Down Program Work?

So you have an old house but you still want to think and live green.  Here are a few tips that can help you retrofit and teach your old Central Ohio home a new "Green " trick.

•1.        Replace old windows with energy efficient windows.  If replacing windows is not in the budget prevent drafts with caulk or seal the window off with plastic.

•2.       By using recycled flooring products we can reduce our dependency on fossil fuel and.  Using natural fiber rugs and flooring is also effective in reducing oil requirements.

•3.       When you think paint ...think "Green".  Not only does it helps shrink our carbon footprint it is a wonderful way to improve indoor air quality in your Central Ohio home.

•4.       Replace old fashioned light bulbs with LED lights which are more reliant and energy efficient.  Studies show that by replacing your 5 most used light you will save $100 per year.

•5.       When looking to replace appliances look for energy star products.  These products save 10-30% on the operating costs.

•6.       Add a programmable thermostat.   This can save you about 10% on your heating and cooling bill every year.

•7.       Plug leaks around doors and plumbing and electrical outlets.  These are areas that often go forgotten in our quest to make homes more energy efficient.

•8.       Installing a water heater jacket around your water heater and wrapping your pipes is another cost effective way to green up your home and save money.

•9.       By spending $100 dollars every two years to have a professional check out your HVAC you can save you 10-15% on your heating and cooling bill each year.

•10.   $285 dollars per year can be saved by installing low-flow faucet and shower systems.  These systems do not affect water pressure.

Even if you do just one or two of these suggestions they will help your save money and help the environment too.

For More Green Ideas See:  Thinking Spring....Think Green for your Landscape

If you are looking for more cost effective tips to help your home sell call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com

 

If you are like me, I start thinking spring in mid February, but here in Central Ohio we are still have plenty of winter days left. Any Central Ohio real estate agent will tell you that it's harder to sell your home in the winter. The days are colder and shorter, leaving less time to show your home to potential buyers.

The good news is that most of the buyers who are looking at houses in the winter aren't just killing time. They're serious enough about finding their new home to go house hunting at a time that most people would rather stay inside.

There are a few things you can do to make a good impression on home buyers this winter:

· Make sure all walkways are safe. Spread out ice melt or sand to provide traction during snowy weather. Shoveling the snow on the driveway and sidewalks will make your Central Ohio real estate appear more inviting and well maintained. Be sure to place a mat for visitors to wipe their feet on.
· Warm up the house. Buyers will remember the house that was pleasantly warm on a frigid day. In addition, you will be able to demonstrate to the buyer that your furnace is in good working order.
· For a welcoming scent, bake cookies the day of the showing. Some people are sensitive to the fragrances in air freshener's and perfumes, so skip spraying those when expecting someone to look at your house.
· Serve snacks in the kitchen. Give the buyer a reason to linger in your home by leaving a light snack in the kitchen. If the weather is cold, consider providing chili or soup in a Crockpot to keep it warm with festive disposable bowls. Or, to keep it simple, you can provide coffee or hot chocolate and cookies. Be sure to talk with your Central Ohio real estate agent before leaving these snacks so he or she knows they're for the buyers.
· Make your house appear warm and inviting. Turn all the lights in the house on; place warm-toned throws and decorator pillows around the living room. Put on some soothing classical or jazz music; keep the volume low enough that buyers can talk quietly to each other.

You can make your home seem more inviting this winter by using these proven techniques.

Ready to sell your home? Call me today at 614-273-6406 or email me at Vanessa.simmons@realliving.com

KEYWORD: Pickerington, Central Ohio, Columbus, Gahanna, Canal Winchester, Worthington, Renyldsburg,OHIO real estate

LINKS:
Ice melt: http://www.ecos.com/pages/icemelt.html
Furnace: http://www.buyfurnace.org/
Jazz music: http://www.allaboutjazz.com/