Mortgage rates have climbed to their highest level since 2008, pinching home buyers’ purchase power. The 30-year fixed-rate mortgage averaged 5.78% this week, far above its 2.93% average just one year ago. The Federal Reserve’s decision Wednesday to raise its key benchmark rate by the highest amount in 28 years sent shock waves through financial markets, including […]
The New Albany, Ohio Community Development Charge (CDC) was established for the benefit of the Community Authority, as a charge on each Chargeable Parcel within the Community District. The purpose of the CDC is to cover all or part of the cost of the acquisition, development, construction, operation and maintenance of land, Community Land Development […]
2021 was the busiest year for both new housing starts and existing home sales since 2006, putting additional pressure on the nation’s home builders to pick up the pace without sacrificing quality. In the current market, home buyers face a myriad of stressors — from extreme competition to limited supply to rising mortgage rates. For many, a new construction […]
CFPB urges mortgage servicers to use the Homeowners Assistance Fund (HAF), to help borrowers avoid foreclosure The Consumer Financial Protection Bureau (CFPB) today said that they are closely monitoring how servicers conduct themselves to help homeowners avoid foreclosure. Lorelei Salas, assistant director for supervision policy at the CFPB, advised that the CFPB will be closely monitoring complaints […]
A coalition of Ohio real estate and financial organizations have joined forces in support of Senate Bill 24, Ohio’s First-Time Homebuyer Savings Act. The legislation, SB 24, introduced by Sen. Theresa Gavarone (R-Bowling Green) and Sen. Bob Peterson (R-Washington Court House), would authorize a first-time homebuyer to open a tax-deductible savings account to which a […]
Pandemic-related mortgage forbearance programs are expiring, but hundreds of thousands of homeowners continue to struggle with payments. When loan modifications fail to help, distressed homeowners may find themselves at risk of foreclosure. Pandemic-related aid allowed financially struggling homeowners to miss their house payments for, in some cases, up to 18 months. But as those programs […]
Shared equity programs can provide an excellent opportunity for affordable homeownership. They’re often run by government or non-profit organizations to provide first-time or low- to moderate-income buyers access to housing at prices substantially lower than otherwise available in a market. Several types of shared equity programs are available, but they usually include a requirement that […]
A Better Way to Buy AND Sell a Home How you Save… On average, a traditional agent charges you 3-4% of your home’s sale price to list your home (the total fee is 6-7% with 3% going to the agent that represents the Buyer for your home). If you agree to Buy and Sell with us… we charge just […]
Homes Continue to Sell For More Than List Price Unusually high demand for homes in central Ohio and a lack of sufficient inventory has resulted in homes selling for more than the asking price for the past couple of years, however, competition for homes on the market is showing signs of lessening, which could provide […]
More Inventory, Fewer Sales. For the fourth consecutive month, the number of new listings in central Ohio increased by over 20 percent. Over the past few years this type of double-digit increase in new listings would have been accompanied by a corresponding increase in home sales, however, this wasn’t the case in July. There were […]
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