Buying a home is a huge investment—probably the most significant purchase of your life. It’s not something you should do without preparation. Before you start on the road to homeownership, make sure you’re ready. The first step is to determine if you qualify for a mortgage, a lender can help you with this however, to […]
Inventory shortages continue to help home prices break record highs, according to an analysis by Realtor.com®. “Never in history have there been more eyes on fewer homes than today,” says Javier Vivas, Realtor.com’s director of economic research. “The price gains observed in the last days of March tell us the market is on pace to see […]
For homeowners who have been unsuccessful in negotiating a loan modification, there generally remains two other options – a short sale or foreclosure. While a foreclosure involves the bank taking possession of the mortgaged property back through a legal process by which the owner forfeits all rights to the property leaving the mortgagor (aka the […]
Inventory declines yet again in February At the end of February, the number of homes and condos for sale was down to 3,376, which is just 0.1% lower than January and 21.2% less than February 2017. This marks the 85th consecutive month of year over year declines in inventory and left central Ohio with a […]
Columbus is home to the No. 1 ranked school in the state – Columbus Preparatory Academy – according to the Ohio Department of Education’s Performance Index Ranking of schools and districts Top Rated Central Ohio High Schools #1 Bexley High School 326 S Cassingham Rd, Bexley, Ohio 43209 #128 in National Rankings| College Readiness Score […]
In recent years FHA loans have taken on renewed importance for today’s mortgage borrowers. Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if […]
An earnest money deposit is a specific form of security deposit made in real estate transactions to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. Earnest money deposits are one of the most misunderstood parts of the home-buying process. Depending on where you live, you can expect to […]
After years of speculation about mortgage interest rates, the Federal Reserve has begun increasing the Fed Funds Rate. The Fed Funds rate sets the cost of borrowing for the banks, and consequently the cost of mortgages for homebuyers. With additional moves at hand, there is concern that more expensive mortgage rates could hamper the housing […]
Central Ohio Housing Inventory at Record Lows Central Ohio housing inventory continued to decrease during the month of January to 3,410, which is 12% below December and 21.2% less than January 2017. This left central Ohio with a 1.2 months supply of inventory at the current sales pace and the 84th consecutive month of year […]
2017 was the Hottest Housing Market in History for Central Ohio There were 32,218 homes and condos sold in central Ohio in 2017, which is 1.7% higher than 2016 and the highest number of homes sold on record for a single year, according to the Columbus REALTORS® Multiple Listing Service. 2017 also saw record high […]
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