September 2016

Found 10 blog entries for September 2016.

Rent or Buy a House - Busting 4 Common Myths

According to a recent ​report​ by Harvard University’s Joint Center for Housing Studies, the past 15 years have seen a drastic shift in how Americans approach renting and owning with many questioning whether to rent or buy a house.

More people are renting, while fewer are buying houses. In fact, the average annual growth number for renters is now approaching the peak number for ​home buying reached in 2006, just before the housing market crash. 

rent or buy a house

The reasons for such explosive rental growth are numerous: lingering effects from the economic collapse in 2008, the revitalization of many urban cores, Baby Boomers aging out of their houses, and high rates of student loan debt among Millennials.

Should

5,160 Views, 1 Comment

Renting vs Buying a Home - 5 Things to Remember

You’ve finally reached a point in your life where you plan to be in the same place for longer than a 12-month lease and pondering renting vs buying a home. Instead of making rental payments on a monthly basis, you want to earn equity as you go and eventually end up with a permanent roof over your head. (We at ​ABODO​ will miss you, but we understand.)

renting vs buying a home

But rent doesn’t translate into mortgage on a simple 1:1 ratio — a lot more goes into the transition than you might think, from the upfront costs involved to what happens if your dishwasher malfunctions and spews food-­flavored water all over your floor. As you prepare to pick up the torch of home ownership, keep these five things in mind, and you’ll

6,284 Views, 1 Comment

Making Real Estate Offers Explained

Hello readers and followers, back today to talk about what goes into making real estate offers but simplified and thought I'd throw in some other tips and links for home buyers to check out.

Think of making a real estate offer like a relationship. The first step is getting ready to propose and then the proposal itself and hope your offer is accepted.

real estate offers

On that note, getting ready for the proposal requires some due diligence. Here are some handy articles all home buyers should read before making real estate offers:

fico score vs credit score debt-to-income-ratio, the magic number

For making real estate offers, Realtors use a variety of similar forms and they vary from MLS territory to MLS territory and

2,114 Views, 0 Comments

Best Neighborhoods in Cincinnati (or anywhere) - 6 Tips

So you’re on the home ­buying market. Congratulations! You’re probably already overwhelmed by decisions: colonial or ranch ­style? Stucco or stone? One­ or two-­story? Carpet or parquet flooring?

best neighborhoods in cincinnati

And that’s not even including one of the most important factors in any new home ­purchase:

location, location, location. It might not be everything, but it’s almost everything. It will determine your commute, change your social life, shape your children’s education, and affect a host of other aspects in your life.

Depending on your city, you probably have your own dream neighborhoods and avoidable boroughs. But in case you don’t — or if you want a bit more guidance as you do research — we at

2,713 Views, 2 Comments

FICO Score vs Credit Score - Credit Score for Home Loan

One of the biggest surprises for home buyers and home owners thinking about refinancing is finding out a FICO score vs credit score is greatly different and the credit score for home loan requirements of mortgage lenders are different for mortgage loans.

fico score vs credit score

Time for a tip! Start working on your credit now, and also work on your debt to income ratio. The vast majority of credit scores contain errors and if you want a qualified home loan which offers the best rates and terms you need to meet or exceed the current debt to income ratio requirements

Debt to income ratio requirements

Since the credit score for home loan requirements are different, your credit score could be surprisingly lower

5,062 Views, 2 Comments

The Frank-Dodd Act – Mortgage Lending Today

In 2010, a horrifying year for the economy and real estate market President Obama implemented the Frank-Dodd act. An action brought on to combat and end predatory lending like negative-amortization mortgages, sub-prime loans and giving loans to buyers that weren’t fiscally fit for the size of mortgages issues.

It was a terrible time back then, in the beginning unknowing consumers who were perhaps not the best money managers were ecstatic to be given a loan for a home, only to lose it later to foreclosure over cash flow issues, job cut backs and a geriatric economy. This in turn only further damaged people’s credit.

frank dodd act how hard is it to get a mortgage

In the end, nearly 8 million U.S homes fell into foreclosure, home builders saw their

5,146 Views, 2 Comments

Chasing Real Estate Commissions vs Making Lifetime Clients

In my opinion, what follows below is the single best advice for new real estate agents or those thinking of a license that would to see regular real estate commission checks and build their real estate business correctly.

real estate commissions

If you want to build a business, treat your clients like we do and be a first class, five star Realtor.

Marty, my business partner, and I have run a successful real estate business for many years in SW Ohio and the Greater Cincinnati area with bragging rights.

There’s a good reason why Cincinnati area home sellers and buyers in Southwest Ohio and Cincinnati choose to work with us. See our reviews.

That being said, I would like to share some personal experience

1,827 Views, 2 Comments

Homes for Sale in the Bridle Creek Neighborhood; Monroe, OH

Bridle Creek is a beautiful neighborhood of single family homes that is conveniently located less than 1.2 miles from I-75. It's not uncommon to see neighborhood kids playing the streets of this quaint little oasis in the suburbs during the summer and sledding down snow covered streets in the winter. It's far enough from the main hustle and bustle of the city that residents don't feel like the center of Monroe is knocking on their door.

Homes for Sale Bridle Creek Monroe Oh

Looking for a home in Bridle Creek? Interested in finding homes for sale in the Bridle Creek Neighborhood of Monroe OH? Click the link to find all the currently available homes in this area of Monroe.

What's the Neighborhood Like?

The homes you

1,220 Views, 2 Comments

Debt to Income Ratio - The 43% Target

Before a first time buyer, or any home buyer sets out to start viewing properties, getting pre-approved is one of the crucial first steps, but examining your debt-to-income ratio is best done before applying for a home loan.

Why is the debt-to-income ratio of 43% such an important percentage and factor?

debt to income ratios qualified mortgage

This ratio speaks to a home buyer’s financial capacity not so much in terms of buying a home but capacity to faithfully pay on the mortgage and not go into default – as much a concern for the lender as it should be for the home buyer.

For purposes of getting pre-approved for a mortgage, your debt-to-income ratio is calculated simply by adding up all your monthly debt payments and then divide the total

11,857 Views, 2 Comments

The Gross Truth About Easements in Gross

As an active Realtor in Southwest Ohio, I come across situations involving easements in gross and other types of easements that can sometimes negatively impact a real estate transaction and also stories from new clients about easements causing issues in their past.

easements in gross

My business partner, Greg Hancock, and I are always seeking to educate buyers and sellers; easements in gross or easements period should always be looked for, evaluated and discussed.

Not doing so is like building without a permit and can come back and "bite you" down the road. I even have a personal story and example for you of how this can happen.

Easements can be defined or classified as easements in gross or easements appurtenant.

11,055 Views, 2 Comments