What is Tuesday Open House??  Well, it’s clearly not an “open house”.  It is my way of throwing the doors open on the RealEstate-Ink.com blog and offering up a few quick articles and facts on real estate for the West Chester, Liberty Township, Beckett Ridge, Mason and Fairfield Township, Ohio areas.  It is not intended to be all about homes for sale, but it will be about that some of the time…

 Tax Credit Countdown: As of this writing there are 52 Days, 15 Hours, 36 Minutes, 10 Seconds until the expiration of the Tax Credits for both the First Time Homebuyer and the existing home owner.  If you wish to take advantage of these tax credits and the unbelievably low interest rates that go with them, you better get moving (no pun intended).   You can search the entire MLS from our website, LowryTeam.com  or if you need to find the value of your current home and need to sell first you can request a FREE market value analysis on our website and you can learn more about our Hassle Free Listing System.

Low Mortgage Rates: Speaking of unbelievably low interest rates, check out these rates!  As of yesterday afternoon these were the current interest rates that you could be taking advantage of if you were buying a new home:

5 Year Arm                       4.30%

30 Year Fixed                   4.80%

15 Year Fixed                   4.20%

These rates are for purchases only, not refinances, and are courtesy of Third Federal Savings

Check out this terrific new listing located right next to Eden Park.  It is a terrific 2 Bedroom, 2 Bath condo in like new condition, comes with all of the appliances included (full size washer & dryer) and has off street parking.  Visit our website to view interior photos and more details.

$149,900

2155 Fulton Ave. #4, Cincinnati, Ohio

Secret Cincinnati is a brand new facebook page that is getting a lot of attention this week here in Cincinnati.  You can check it out at Secret Cincinnati Facebook Page  As of this writing they have 1856 fans and they have only been up and running on facebook since the weekend I believe.  The site has a lot of very interesting information and recommendations on Cincinnati dining, entertainment, etc.

While you are on facebook checking SecretCincinnati out, please visit and become a fan of our facebook page located at www.facebook.com/LowryTeamRealEstate

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

For first time homebuyers now is the time to act.  With the government offering an $8000 tax credit on homes purchased by April 30th, 2010 and with the historically low interest rates available today, this is an opportunity not to be missed! 

First of all there is the tax credit.  It goes like this, buy a home by April 30th, file your tax return and get cash back from the government.  This is a true credit and not just a nice deduction.  Of course there are some limitations based on your income level, etc.  You should definitely consult a tax professional regarding your own personal situation.

Second, we have the low interest rates.  As of today they are hovering around 5.00% for a 30 year fixed rate mortgage.  These are terrific rates that will not last!  Why won’t they last?  Because the government’s intervention in the mortgage markets which forced rates to drop dramatically is slated to end on March 30th, 2010.  When this stops, rates go up.  Some experts predict that rates will be over 6.00% by year’s end.  Don’t miss out!

In addition to both of these great factors, home prices and selection are also terrific.  With housing prices having fallen and the available supply of homes for sale still very, very good, this would be a great time to buy even without the tax credit and low interest rates.

So we have:

$8000.  tax credit + low interest rates + low home prices + great selection of homes = FANTASTIC OPPORTUNITY!

Get more information on buying your first home by visiting my website .  Available there, are three e-Books packed with information on buying your first home and they are completely free and there is no obligation.

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

New Listing On LowryTeam.com…

 
7983 Seabury Court, West Chester, Ohio 45069

West Chester, Ohio 45069

Lakota Schools

$219,900  - Four Bedrooms - Two Full & One Half Baths

This Is A Terrific Two Story Home In Villages Of Providence Subdivision:

• Perfect For The First Time Homebuyer!
• Warm, Inviting Family Room w/ Hardwood Floors & Gas Fireplace
• Rear Staircase – Newer Carpet
• Bright, Open Kitchen Includes Smooth Top Range & Microwave
• Formal Dining Room 
• Master Bedroom w/ Adjoining Garden Bath
• All Bedrooms Are Spacious In Size And Have Ceiling Fans
• Second Floor Laundry
• Large, Flat Fenced Rear Yard
• Located On A Cul-de-Sac Street
• Close To Schools, Shopping & Expressways

Click here to see more information on this terrific West Chester, Ohio home for sale including many more photos

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

The tax credit is not just for those buying a bigger home, it also works for those wanting to downsize

When the First Time Home Buyer Tax credit was extended and expanded most people thought the expansion was only for home owners who wanted to move up, those who wished to buy a bigger, more expensive home. In fact, the expansion simply includes those who have owned a primary residence and lived in it for at least five consecutive years out of the last eight years. If current home owners want to downsize they can use the tax credit toward their new home, regardless of whether it costs less or is smaller than the home that they are selling.

It is an anomaly that everyone assumes the tax credit is only for purchasing bigger and better. Many people, especially those whose children have grown and left the nest, want to downsize. After-all, who doesn’t want to make life simpler these days?

If you have been considering selling your home and moving into a smaller space, consider doing so before the tax credit expires. Place your new home under contract by April 30th and close by June 30th and you could have a few extra dollars in your pocket.

Learn more about both of the homebuyer tax credits here!

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

Now might be the best time to lock in a low mortgage rate

Low interest rates have been gracing the real estate market with their presence for the past year but the word on the street is that they won’t be here much longer.  While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin to rise.  Many so called experts expect that the 30 year rates may be at 6.00% or higher by years end. 

For those wishing to lock in at below 5%, the time just might be now or never (or at least for a very long time).  Today in fact I saw a 30 year fixed mortgage rate quoted at 4.85%.  The general sentiment among economists is that rates are not going anywhere but up from here and in my opinion this is definitely the case.  The federal government’s intervention in the mortgage market has caused rates to be artificially low for some time now.  This intervention is coming to an end by March 30th.

The strengthening of the economy equals less chance for discounted rates.  If you are looking to buy a home, now is the best time to do so.  We have low interest rates, tax credits and a great supply of homes for sale.  These three factors will not line up like this again at one time, for a very long time.

Looking for a referral to a good lender with good interest rates and reasonable closing costs?  Call me or email me and I will get you in touch with a lender that will take great care in getting your financing lined up for you.

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

Finding a mortgage before looking for real estate is a smart idea

The first step in buying a home should be getting a mortgage.  Getting a mortgage, or rather getting approved for a mortgage, lets you know what you can expect in the way of a monthly payment before you begin to look at homes.

Interest rates can have a big impact on what your monthly payment ultimately ends up being and rates have been inching upward in the last few weeks.  Now is the time to take advantage of both these historically low interest rates as well as the tax credits now being made available to both first time homebuyers and move up buyers.

There are any places to look for a mortgage these days.  There are banks, mortgage brokers, finance companies, credit unions and private lenders.  Often experienced Realtors have mortgage brokers or banks that they work with often and using a lender that has a good reputation is often a safe bet.

When looking for a mortgage you should have a good idea how much you can afford to pay each month.  Look into the past, present and future to determine this.  It is of the utmost importance not to bite off more than you can chew when it comes to your finances and the affordability of a home that you might buy.

When applying for a loan you will need to provide documentation of income, monthly expenses, and assets.  Have your financial statements and tax returns ready and the process will be much easier.

Having a mortgage ready to go before finding a property will make the entire process smoother.  Financing is harder to get these days and being prepared is a wise step in the home buying process.

Looking for a referral to a good lender with good interest rates and reasonable closing costs?  Call me or email me and I will get you in touch with a lender that will take great care in getting your financing lined up for you.

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

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New Listing On LowryTeam.com…

Waiting for the bottom in real estate is similar to grabbing a Yo-Yo at the bottom, you are usually a little early or a little late

There are many people out there waiting for the bottom to hit in many facets of the economy, including real estate.  Perhaps there will be a big announcement one morning across newspaper headlines and across the internet “THE BOTTOM IS HERE: NOW IS THE EXACT MOMENT TO BUY”.  Of course by the time the announcement comes the bottom will have hit and the exact time to buy real estate will have come and gone.

A great analogy to the bottom of the real estate market is a yoyo.  Take a yoyo in your hand and use it.  Can a person grab the yoyo at the exact moment it hits bottom every time?  Chances are a person will grab it just before it hits bottom or just after, rarely at the exact bottom.   Real estate is the same game, if it is indeed a game.  If people knew, absolutely knew, the exact time to buy stocks, real estate, or any other investment then no one would ever have a financial worry.

For people who believe in investing in real estate, now is a great time to buy.  Interest rates won’t be low forever, in fact interest rates have been inching up the past 10 days now.  Most mortgage experts expect interest rates to return to the 6.00% range over the next few months to a year.

In addition, the tax credits available for purchasing a home make now an incredible time to buy.  You can get more information on the tax credits here.

Real estate has either already hit the bottom, is about to or is already on its way up, we’ll know for certain sometime in the future.  If you want to buy at the bottom, buy now. Or wait until it’s too late, when you can look back and say, “If only I had bought then.”

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

Search the entire MLS here!

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

Business Week magazine has a pretty interesting article on the opportunities that are out there for home buyers right now.  I don’t agree with the title, but the information is very valid.

Click here to read the article from Business Week magazine

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

Search the entire MLS here!

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

If monthly payments are affordable buying a home can make more sense than renting

A question that surfaces on most people’s mind at some point is, whether to rent or to buy a home or condo.  The first thing that pops to mind is affordability but there are other factors, such as job stability, relocation possibilities and lifestyle.  If you intend on being in an area like West Chester, Liberty Township, Fairfield Township, Mason or Monroe, Ohio for at least two more years, your income is steady and purchasing a home fits your lifestyle then it is time to break out a pen, paper and a calculator and see if buying makes more sense financially than renting.

At first glance buying a home makes more sense than renting because of the ability to gain equity in a home, especially in today’s market with the lowest home prices in years and historically low interest rates.  For First Time Homebuyer’s there is also the $8000 tax credit for purchasing a home to factor in.

There is no sense making a two column list when it comes out to equating the cost of renting and buying.  Renting is a fixed equation, the monthly number typically doesn’t change.  To compute your costs for buying a home you look at the following:

• Purchase price
• Down payment amount
• Loan Amount
• Loan Term
• Interest rate
• Property taxes
• HOA fees
• Monthly mortgage payment
• Home owner’s insurance
• Mortgage insurance

Your monthly costs will include your mortgage payment, property taxes, insurance, and any HOA dues that may exist.  If these numbers add up to an amount you can afford it could make sense for you to purchase a home instead of rent.  The important thing to remember is that once you buy a home you are not going to have a landlord to rely on to make repairs so factor in putting aside some extra money for a home repair and maintenance account.

Buying a home is an important decision and one which can add to future security and financial stability if done with great thought and evaluation.

Search the entire MLS here!

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