Buyers

According to current and past clients, this section of our site – where we bring together all posts talking about Buying Homes in Columbus and Central Ohio – has been the most educational and appreciated page they’ve seen while looking for a home.

We even meet people who admit to voraciously reading this page and using an Agent outside of Delicious Real Estate (old friend, relation, or spouse of co-worker that didn’t ‘get’ them or their search and added no value) that, in retrospect, they wish they hadn’t used.

We hope you find this page to be helpful in your home search and we hope that you ask any questions that remain after looking here for your answers.  To save you time and energy in your home search, sign up for the Delicious Property Organizer — All homes meeting your criteria, live from our local MLS, in one place at one time with email updates and the ability to take notes, schedule showings and keep your favorites together.

The Return of Third Thursday Open Houses and why it works in Bexley

This home at 2465 East Broad Street will be one of a dozen or so open during March's Third Thursday open house event in the Bexley area.

A few years back, some of the Realtor associations inside I-270 had an idea  about Open Houses.  Holding an open house on a day other than Sunday wasn’t a new idea but all agents, working together across brokerages to promote an additional opportunity to showcase listings was new. It wasn’t an idea that orginated from the local Board of Realtors, but in the field.

Fast forward to a week from tomorrow, the third Thursday in March, and the only open houses will be in one zip code -43209- Bexley, Berwick and Eastmoor.  In fact, the last I saw, there were 25+ homes (listed below but still time for others) in Bexley and Eastmoor open.

It didn’t stick in Clintonville, it didn’t stick in the Short North or in German Village or Upper Arlington. Why has the idea not only survived but thrived in the Bexley, Berwick and Eastmoor area?

• It’s a smallish area, approximately 9.3 square miles.
• Between Broad Street, Main Street, Livingston Avenue and James Road, a large amount of cars pass by the Open House signs every month.
• Affiliates of the local real estate association help to underwrite a full page ad in the Bexley News the week prior which details the homes to be held open.
• In Bexley, a relatively small number of agents have many of the active listings at any one time and they urge the homeowners to participate.
• I believe that the last informal tally I heard indicated that 12 homes sold in 2009 where the buyer first saw the home on a Thursday in Bexley, Berwick or Eastmoor. Success begets more chances.

From last count, these are some of the homes that will be Open Thursday March 18 from aprox. 5-7 PM.

The Scoop on the New Good Faith Estimate

If you’re in the market to buy a new home this year, you may have heard mention of the new Good Faith Estimate that has been in use since the beginning of the year. There has been much written nationally regarding the new form. Much of the drama has revolved around whether or not it is actually helpful to consumers and much of the griping has come from lenders and title companies who’ve had to adjust their routines a little.

I think anything that clarifies what to expect going forward for the home buying consumer is a positive step for the industry. You know, complete disclosure and total transparency and all. So far this year, there’s been a little hand-wringing by both Delicious Real Estate Buyer’s lenders and title companies but no hold ups, real confusion or problems around closing time–having to do with this anyway.

So please note that there is a new form, it’s for your benefit, and you can find it right here. For all the discussion, it’s really pretty self-explantory. If you don’t think so, the two humorless NAR guys in the suits in this video will do their best to explain it to you. Remember, always compare apples to apples when judging one lender’s program with another lender’s program.

Property Tax Increase on the way for Grandview Homeowners?

Tax increase or not, I'd like to help you find your Grandview home.

I’m sure they’re hoping not since Grandview Hieghts is already going to be asking voters for a raise in the city’s income tax. The purpose behind a Grandview Heights property tax increase would be improvement and upkeep of the Grandview City Parks.

From the Dispatch….”The proposal would raise about $54,000 a year using millage previously uncollected.

Under state and county law, Grandview Heights is permitted to collect up to 10 mills of so-called “inside millage” for public purposes without voter approval. The city has used all but 0.25 mills of its maximum.

Residents would pay about $17 a year in additional taxes if the Franklin County auditor approves the city’s request.

The City Council decided last night to wait another week to allow for more public input,…[more].”

How to Turn your $8,000 Columbus Home Buyer tax credit into $9,000….. or more

It's all part of constructing a better Real Estate Brokerage Model

If there is anyone out there in Central Ohio still considering the purchase of their first home, now is the time. I am not a cheerleader type, especially for the same sort of party line that all real estate agents are eschewing right now.

That said, the truth is, there’s never been a better time to buy your first home. Interest rates are at historically low levels and thought to be increasing soon. Housing stock, even at this time of year, is plentitful and growing and less expensive than it may have been a couple years ago.

And, oh yeah, there is an $8,000 tax credit for first time Buyers and a $6,500 tax credit for Sellers. There’s never been a better time to buy your first home. Until now.

Delicious Real Estate is rebating cash back to all buyers.

• $1,000 to Buyers of homes $135,000 and over
• $2,000 to Buyers of homes $235,000 and over
• $3,000 to Buyers of homes $335,000 and over

Just like the tax credit, this offer only extends to any buyer who is in contract on a home by April 30, 2010.  Unlike the tax credit, this offer is not limited to first time buyers, rather it is open to any buyer.

*Buyers must be pre-approved by lender of choice.

*Homes must be in Franklin or contiguous Counties.

*The rebate will mentioned in the purchase contract for the home and listed on the settlement statement as required by state law.

*You must know the secret password which means you read to at least the middle of the post. The secret password is “Go Clippers!”

*Call, email or stop by for more information

Why am I doing this?

1. I’m driven to prove that a better buying and selling experience is possible for less.
2. I want to get the Delicious Real Estate name out in the world more than I have in the first year of the Firm’s existence.
3. I’m concerned about potential negative impacts on our local market of FHA changes and the end of the tax credit and think that the last 3-4 months of 2010 will be very slow.
4. I’m already considering the idea of rebating. It’s part of my client-centric philosophy.
5. The first quarter is typically a bit slower than the 2nd or 3rd quarter of the year.

Columbus Home Mortgages – Updates on FHA, Jumbo Loans and Stated Income

I’ve said before that FHA changes are coming and that Stated Income Loans are dead. Here is Mortgage Man Dan Green with a healthy prognosis on Jumbo loans and the scoop on FHA loans after March 31….

More from Dan on FHA changes can be found here.