2021 marks the tenth straight year that central Ohio home prices have climbed above the traditional norm of 4% per year. Will 2021 be the year that the housing market correction, and is a crash ahead? Given the low unemployment, wage growth and low interest rates, most economists today don’t foresee a recession in the […]
The purchase of a home is one of the most complex, high-risk, and expensive transactions most people will ever participate in. If you are considering purchasing a home here are ten key reasons why you should hire a Realtor: 1. The Service Is Free. BUYERS DO NOT PAY REALTOR COMMISSIONS. If you are a buyer there is […]
The option to work from home or remotely is likely to become part of the workforce culture. A larger fraction of workers allowed to work from home will change the mix of demand for residential and commercial real estate between the city and the suburbs, give rise to new home designs that allow workers to […]
“Is my/the property in a flood zone?” That’s a question that concerns both homeowners and home shoppers—and not just those near large bodies of water. In fact, there are a little over a dozen flood zone classifications. These rankings are determined by the Federal Emergency Management Agency and represented on special maps. An areas classification is […]
Mortgage interest rates are going to rise in 2021. The Mortgage Bankers Association in its most recent forecast sees two things that stand out. First, 2020 will prove itself to be the second biggest mortgage year in history. At over three trillion, 2020 will only stand behind 2003 in single family mortgage production history. Second, the MBA joined […]
I’m often asked, “Should I use a Realtor if I’m buying new construction from a builder”. The short answer is yes and here are the main reasons why. When you’re house hunting, the allure of new construction is undeniable. You get to be the first to live in a new, pristine home, full of brand-new […]
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 […]
Anyone eager to buy a home this spring probably has reasons to feel good. The job market is solid. Average pay is rising. And mortgage rates, even after edging up slightly as of late, are still near historic lows. And then there’s the bad news: Inventory levels are down and buyers are struggling to find […]
As It Relates To Central Ohio’s Housing Market In 1890 English economist Alfred Marshall published his work, Principles of Economics in which he described how both supply and demand interact to determine price. Today, the supply-demand model is one of the fundamental concepts of modern economics. Rather simply the law predicts that the price level […]
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