Understanding HOAs The number of Americans living in common-interest communities — those governed by either a homeowners association, condo board, or cooperative — has grown from 1 percent in 1970 to 24 percent in 2013. Community associations are a growing share of the residential real estate market, however, many home owners have little understanding of the […]
It’s that time of year and as we close out a summer marked by rising home prices and limited supply, many buyers expect the common end-of-season slowdown. The change of season doesn’t mean activity drops off completely – in fact, fall’s arrival presents opportunities for homebuyers, in part due to a “back-to-school mentality”. If you’re a prospective homebuyer, […]
When buying a home, chances are you’ll spend a lot of time inspecting various aspects of the property. Before making an offer to purchase a home, be sure to take a close look at one often overlooked element of the home: its foundation. Foundation problems can be costly to repair, so you need to know they […]
A Loan Estimate (LE) is a form that lists basic information about the terms of a mortgage loan for which you’ve applied. The idea behind the Loan Estimate (like the Good Faith Estimate before it) is to get critical information about the loan into the hands of the borrower as early as possible so that you as […]
As multiple offer situations have become common place, we real estate agents are increasingly running into situations where the seller wants to “shop” an offer. Here’s an example: a seller has received three offers to purchase their home. One of the offers is higher than the other two, but the seller prefers the closing and possession dates on […]
Two major banks are hoping to overhaul the 15-year mortgage, making it more accessible to low and moderate-income people. The banks suggest these changes will help borrowers build equity at a much faster pace than they would with a standard loan. In addition, the creators of the Wealth Building Home Loan, which allows home buyers to build equity at […]
With rising prices and low inventory in markets across the country, including our own right here in Columbus OH, home sellers are less inclined to consider offers that come in far below their asking price. Buyers who do ask for deep discounts risk offending sellers to the point where they quash any chances of bringing a deal together and before […]
For the first time in history Zillow, Trulia and Realtor.com captured more than a third of all visits to real estate sites from desktop computers in April. According to Experian Marketing Services data, Real estate’s three largest consumer portals have been slowly growing their overall real estate Web traffic share from desktop computers. (Unlike its digital […]
Let’s first define our terms. A mortgage is a financing arrangement in which the person buying a home or parcel of land (or one who already owns property) receives a loan, and the property is pledged as collateral to guarantee repayment of the loan. A mortgage consists of two documents: a note and the mortgage itself. The […]
“Special” ’Spesh – ?l – Defined as being different from what is normal; unusual in a good way; better or more important. Special is not special when it defines the type of deed the Buyer will receive. Ohio, by statute, provides for three specific types of deeds that are used to transfer title to real […]
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