More buyers are making concessions to win bidding wars amid a deepening housing shortage, record-low interest rates. The pandemic and high unemployment rate haven’t slowed the housing market, and rather home buyers are facing heightened competition for a limited number of homes for sale. In an effort to make their offers more competitive, many have […]
Zillow has announced a partnership with homebuilder D.R. Horton (Locally Westport Homes), allowing buyers of new construction homes to sell their current homes directly to Zillow through its iBuying solution, Zillow Offers. D.R. Horton customers selling their current home through Zillow Offers receive an extended closing timeline of up to eight months, and the flexibility to modify the closing date to better […]
Before buying a home, you would ideally save enough money for a 20% down payment. You can get a home loan with less than a 20% down payment, but you’ll probably have to pay for mortgage insurance. The purpose of the insurance is to protect the mortgage company if you stop making your monthly mortgage payments and default […]
If you’re looking to move up, into a larger and more expensive home, we have some good news for you… it has never been more affordable to move up to a luxury home. Mortgage interest rates are currently below 3%. This represents the lowest levels in the last 50 years. These low interest rates dramatically impact […]
Buyer demand outpacing supply During the month of June, there were 322 more homes and condominiums listed for sale compared to May. The jump from 3,232 to 3,554 new listings generated increased interest and foot traffic from buyers actively seeking to purchase a home in central Ohio. Both buyers and sellers took a step back […]
In spite of the pandemic, new residential construction is booming in Central Ohio. According to the Census Bureau, 16.4% more single family building permits were issued since the same period last year. This chart shows the numbers for January to April. May values are not available yet. New Construction for First-Time Buyers This is good news for buyers […]
While FHA FICO score requirements have not changed during the COVID Crisis, some FHA mortgage lenders have increased requirements following the uncertainty caused by the pandemic. For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, […]
Live Well Every Day Founders Ed Bacome and Phil Fankhauser began Epcon Communities in Dublin, Ohio, in 1986, when they tapped into an overlooked segment of real estate—the maturing homebuyer. Today, based on a mission to combine innovative home design with myriad amenities, more than 26,000 families and individuals live in an Epcon community. With […]
Alton Place, a proposed 354-acre mixed-use development in Hilliard has been approved to move forward. After carefully reviewing the latest iteration of the project, one which has been in the works for nearly three years, Hilliard City Council voted 6-0 to approve the development agreement for Alton Place. The nearly $300 million “generational” development will […]
Getting a mortgage, paying your mortgage, refinancing your mortgage: These are all significant undertakings, but during a pandemic, it all becomes more complicated. Sometimes a lot more complicated. But make no mistake, home buyers are still taking out loans, buying homes and refinancing mortgages during the current global health crisis. There have, in fact, been […]
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