West Chester & Liberty Township OH Real Estate: Big Changes Coming to FHA Loans

Today marks the return of guest blogger Dave Scully with Evolve Bank & Trust. Dave has over 20 years as a mortgage professional in the West Chester, Liberty Township, Mason and Greater Cincinnati marketplace.

Big Changes Coming to FHA Loans Effective April 4th! by Dave Scully, Guest Blogger on RealEstate-Ink.com

Mortgage Loans In West Chester & Liberty Township OhioAll FHA 30 year loans that are assigned case numbers on or after April 11, 2011 will have an increase in the Monthly Mortage Insurance Premium (MIP) from .90bps to 1.15bps for loans with less than 5% down.  For FHA 30 Year loans with greater than 5% down the Monthly Mortage Insurance Premium will increase from .95 to 1.10BPS.  (BPS=Basis Points) What is a basis point?

On a loan sales price of $163,000 this will increase the Monthly Mortage Insurance Premium by $33.  The net effect will be as if the rate is .375%-to a .50% higher in payment.

As if this wasn’t enough, effective on all FHA loans assigned case numbers after April 18th, 2001 the Up Front Mortage Insurance Premium (MIP) on ALL FHA loans will increase from 1% to 1.25%.  This amount is always financed.

The best way to avoid the higher Mortage Insurance Premium rates is to get out there and buy your home now!  Rates are still at near historical all time lows!  There are many great deals on homes out there! 

SEARCH WEST CHESTER & LIBERTY TOWNSHIP OHIO HOMES FOR SALE HERE!

Go out and take advantage of all 3:  (1) LOW RATES, (2) LOW HOUSING PRICES, (3) LOWER MORTGAGE INSURANCE PREMIUMS!

Get Your Mortgage Preapproval From Dave Scully Right Here! 

Contact Dave Scully

West Chester & Liberty Township OH Real Estate: Homebuyers Have The Edge!

Homebuyers Have The Edge!

7 Reasons Why Now Is A Great Time To Buy A Home!According to Lawrence Yun, chief economist from the National Association of Realtors, “Homebuyers over the past year got a great deal and buyers for the balance of this year have an edge over sellers.  Affordability could reach a generational high in the second half of this year because of rock bottom interest rates, helped partly by the Fed’s very accommodative monetary policy.”

Donald Trump says:  “I can’t guarantee it, but I’m pretty sure this is right now a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to that interview with Donald Trump’.”

And John Paulson says:  “If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.” – John Paulson 9/27/2010

For more reasons why now is a prime time to buy a home, contact me and I’ll send you a free eBook titled  “7 Reasons Why Now Is A Great Time To Buy A Home”

Start Your Search For Your New West Chester or Liberty Township Ohio Home Right Here!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com
| P: (513) 874-1830

Buying A Short Sale Property: A Mortgage Lender’s Perspective

Today, we introduce guest blogger Dave Scully with Evolve Bank & Trust. Dave has over 20 years as a mortgage professional in the West Chester, Liberty Township, Mason and Greater Cincinnati marketplace.

Buying A Short Sale Property by Dave Scully, Guest Blogger on RealEstate-Ink.com

Buying A Short Sale ListingEvery buyer in the market wants to get the best deal. You may want to begin your search for a new home with properties that are on a “short sale”. First, let’s define what a short sale is. A short sale is when the sales price of the home is less than the amount the previous owners currently owe on their mortgage. In a short sale the borrowers are likely in the foreclosure process. Therefore the Bank must approve and sale and that is who your Realtor will be negotiating with.

Search For Bank Owned And Short Sale Properties For Sale Here

When buying a short sale you must be prepared for a longer negotiating process and closing process. As I said earlier you are dealing with the bank who must approve the sale of the property. The banks have so many short sales and foreclosures on their books that they do not react as quickly to an offer on the property. Also, the bank will allow you to do a whole house inspection, however they will require the sale of the home to be on an as is basis. I encourage every buyer to get a whole house inspection. However, on a short sale most banks will not make ANY repairs to the property.

Once your loan is approved and you are cleared to close we can typically close you within a day. However, on a short sale the bank will want to see the closing statement and review it for up to 72 hours prior to close.

They key to a successful and timely closing on a short sale is knowing what to expect and when to expect it. Personally I refer to short sales as “Long Sales” as they take a little bit longer to close due to the owner being the bank. I recommend you expect to close a short sale in 45 days instead of the 30 days that we can close a loan.

Get Your Mortgage Preapproval From Dave Scully Right Here! 

Contact Dave Scully

 Have a home that you need to sell in short sale?  Vist www.LowryTeam.com

 

West Chester & Liberty Township OH Real Estate: It’s Prime Time To Buy A Home!

It’s Prime Time To Buy A Home!

West Chester Ohio Homes For Sale

I just read a great eBook called “7 Reasons Why Now Is A Great Time To Buy A Home!”  It’s filled with positive, exciting information to help buyers seize the incredible real estate market opportunities available to them right now.  These opportunities are available in neighborhoods all over West Chester and Liberty Township

Over the next few weeks I’ll be sharing a few of the key concepts from this eBook with you here in the RealEstate-Ink.com blog.  For a free copy of this eBook, contact me and I will send it your way!

Start your search for your new home with our real estate search engine:  VIPHomeFinder.com

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com
| P: (513) 874-1830

West Chester Ohio Real Estate: This Month In Real Estate – January 2011

 
Wondering what your home is worth in today’s real estate market? Request a market analysis here!

Relocating To West Chester, Liberty Township Or Mason, Ohio??  Request Our Free Relocation Information Package By Clicking Here!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

LowryTeam.com: Interest Rates Update For West Chester & Liberty Township, Ohio

LowryTeam.com Mortgage Interest Rate Update

Have mortgage interest rates hit their lows?  Will they continue to move higher?  These are good questions.  The truth of the matter is nobody knows for sure.  Mortgage interest rates have moved higher in the last 5-6 weeks as you can see on the graph.

Interest Rates For West Chester & Liberty Township Ohio Real Estate

It does feel like we have seen the lowest levels and that interest rates will continue to edge a little higher as we move through the spring real estate market and into summer.  How much does it matter?  It matters quite a bit if you care about your monthly home mortgage payment .  On a $300,000 mortgage at a 5.00% interest rate the payment looks like this:

Interest Rates For West Chester & Liberty Township Ohio Real Estate

If mortgage rates move up to just 5.50%, which is still historically very low, the change in monthly payment is $93!

Interest Rates For West Chester & Liberty Township Ohio Real Estate

So, waiting a few months to buy a home in West Chester, Beckett Ridge or Liberty Township, Ohio may very well cost you a great deal of money in the long run.  Buying real estate today will get you a terrific fixed rate mortgage!

You can start your search for a new home in West Chester, Beckett Ridge or Liberty Township, Ohio right here using our real estate search engine – VIPHomeFinder.com.

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com
| P: (513) 874-1830

New Listing: Mason OH Crooked Tree Home For Sale

5141 Spire Oaks Drive, Mason, Ohio 45040

Mason, Ohio 45040

Minutes To Deerfield Towne Centre

 Mason Ohio Schools

$262,500 - Four Bedrooms – Two Full Baths, Two Half Baths

This Is A Terrific Home – Finished Lower Level!

  • Crooked Tree Subdivision
  • Move In Condition  
  • Beautiful Kitchen w/ Island, 42″ Maple Cabinets, Ceramic Tile Flooring & Breakfast Bay 
  • Open Two Story Foyers
  • Warm, Inviting Family Room w/ Gas Fireplace
  • Cathedral Master w/ Adjoining Garden Bath
  • Formal Dining Room
  • First Floor Study w/ French Doors
  • Finished Lower Level
  • Much More – Don’t Wait To See This One!

Mason Ohio Crooked Tree Home For Sale On  www.LowryTeam.com

Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?

 
 
Visit My YouTube channel at: www.youtube.com/LowryTeam

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

West Chester & Liberty Township OH Real Estate: This Month In Real Estate November 2010

 
Wondering what your home is worth in today’s real estate market? Request a market analysis here!

Relocating To West Chester, Liberty Township Or Mason, Ohio??  Request Our Free Relocation Information Package By Clicking Here!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

West Chester & Liberty Township OH Real Estate: Selling Your Home During The Holidays!

Selling your home in today’s real estate market can be very challenging and that is just the reason that every seller should take advantage of every opportunity that presents itself.  Many homeowners who are thinking of selling this time of year or that have been trying to sell with little success, start to think that perhaps they should wait until after the holidays or until spring.  So let’s look at the opportunities that the immediate fall and holiday time periods present:

First, the inventory of homes for sale (the competition) is lower right now, so your home has a better chance of capitalizing on the buyers that are out there looking right now.  Many homeowners are planning to wait until after the holidays, which will cause a flood of new listings to come on the market then.  Without an increase in buyers looking, this increased supply of homes for sale will likely cause a further drop in home prices.  If you truly want to get the best possible price for your home (and I’m sure you do), right now may be the best time.

Second, your home may show better while it is decorated for Thanksgiving and Christmas.  Homes that are nicely decorated for the holidays look nicer than at any other time of year, why not use this opportunity to impress potential buyers with the warmth and added beauty of your homes interior.  Please understand,  buyers buy homes based on emotion and a really nice home, decorated beautifully can seal the deal.

Third, the buyers that are out looking at homes right now are serious buyers.  You may not get as many showings, but the ones you get will be serious.  The “just looking” buyers are not out at looking at homes now.  The buyers that are out looking at homes for sale in West Chester, Liberty Township, Beckett Ridge and Mason right now are ones that are relocating to the area or have sold their current home and need to buy quickly and of course there are always first time homebuyers looking.

Fourth, marketing matters in today’s challenging real estate market and getting ahead start on the rush of inventory coming after the holidays can put money in your pocket.  Homes that sell quickly sell for more!  Getting your home on the market now get’s the marketing process going during a time when the photos of your home will look so much better.  Photos taken now vs photos taken in January or February can make a huge difference, not just in the still photography, but in the creation of the virtual tours and online videos that we create of your home.

 
Wondering what your home is worth in today’s real estate market? Request a market analysis here!

Relocating To West Chester, Liberty Township Or Mason, Ohio??  Request Our Free Relocation Information Package By Clicking Here!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830

West Chester & Liberty Township OH Real Estate: This Month In Real Estate October 2010

 
Wondering what your home is worth in today’s real estate market? Request a market analysis here!

Relocating To West Chester, Liberty Township Or Mason, Ohio??  Request Our Free Relocation Information Package By Clicking Here!

Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

posted by Eric Lowry
Email Me | Search For Homes
www.LowryTeam.com | P: (513) 874-1830