Tagged : first time home buying

Found 31 blog entries tagged as "first time home buying".

West Chester Renters, a Brand New Tesla (in 5 Years)? 

My 5-year Tesla Plan is fanciful, but based on what could be the situation some West Chester renters can probably relate to.

The imaginary 5-year Tesla Plan participant could be any gainfully employed West Chester renter who has been living comfortably in a nice rental for the past few years. It’s either a comfortable home or a nice apartment: that doesn’t matter. But - buying a home for sale in West Chester, Ohio instead of renting may just make that new Tesla affordable; crazy math?

west chester homes for lease

Homes for Sale in West Chester, Ohio

What’s important is that the average monthly rent has been rising. It’s now $1,570. This is now gobbling up just about every spare dollar of the West Chester renter’s

2,900 Views, 3 Comments

Student Loans: Less of a Mortgage Obstacle than Thought

All of a sudden last month our Mason, Ohio and Cincinnati-area readers might have come across a number of new articles dealing with the same topic: the problem young first time home buyers are encountering due to outstanding student loans. The target group is the millennials—everyone born between the early 1980s and 2000s. If you are one of them, you are frequently reminded that there are millions and millions of you out there. And millions who also share the same student loan problem.

student loan debt home loans

There are conflicting accounts of the precise size of the issue, but it seems that the average college graduate now carries somewhere between $30,000 - $50,000 in debt upon graduation. The Federal Reserve

3,757 Views, 1 Comment

Mason, Ohio Home Loan Applicants May See Credit Boost

For a few Mason mortgage applicants, next week may see a one-time favorable change in how they are viewed by home loan lending institutions. It’s a technical change that could amount to a significant difference in the results they get when they apply for Mason home loans.

mason ohio homes credit score boost

 See all current Mason, Ohio homes for sale

The first evidence of what the Washington Post calls “a surprise boost” will be triggered on Saturday, which marks the July 1 beginning of a changeover in the information gathered by the three national credit bureaus. Equifax, Experian, and TransUnion have been working with a number of states to handle an awkward technical problem: many states have outmoded computer reporting

4,579 Views, 1 Comment

What if my House Doesn't Appraise?

Hello, been a while since I've posted anything, but a situation came up where the common question "what if my house doesn't appraise high enough?" came up for both the seller and the buyer.

Dang it - the real estate appraisal was shy of where all parties needed it to be to move forward with purchase and sale. What can be done about it?

what if my house doesn't appraise

Now, my business partner, Marty Snyder, the top Ohio Realtor in our area is marvelous at challenging appraisals. He runs proper comps and his fastidious but friendly nature and appraisal challenge strategy usually wins appraisers over. Nearly 100% successful, this instance was not. As it turns out, the situation was one we've come across for the very first time.

Here's a

1,916 Views, 2 Comments

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

2,157 Views, 0 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

5,112 Views, 2 Comments

Buying a Home for the First Time

Though real estate is a highly local phenomenon, today’s market is still moving fast with regard to buyers facing stiff competition in many cities around the country and buying a home for the first time or even second time requires being on the ball and fully prepared.

My business partner Marty Snyder and I counsel buyers that “want to sleep on it” greatly increases the chance (in most markets) that another offer will be presented and accepted or find themselves in a multiple offer situation and resultant bidding-war when the call for "highest and best" goes out.

buying a home for the first time

One of the things that can hinder buying a home for the first time is too great an expectation of deep discounts.

Currently around SW Ohio and the

10,420 Views, 5 Comments

6 Final Real Estate Questions to Ask Sellers

One day, congratulations will be in order for getting an accepted contract, but once you're moving towards a successful closing there are some important final questions to ask the seller that will help ensure a smoother transition to becoming the property's new owner.

You can use this article to generate your own personal checklist and space for answers and notes.

real estate questions to ask

1 - Do you have the warranties and instruction manuals? Very important to obtain any existing warranties, which should be used before using your home warranty protection and coverage. Also very handy are any instruction manuals for appliances, furnace, hot water heather, air conditioner, electrical, security, watering or other systems.

6,120 Views, 3 Comments

Good Real Estate Agents, Bad Real Estate Agents - Accountability

Now, I'm sure just about anyone reading this knows what it's like to get screwed, taken or shammed and it's just gut wrenching and perhaps more so when you're searching out good real estate agents and come across bad real estate agents but don't realize it until after the fact.

I'd like to just drop some thought-bombs on finding good real estate agents near you, how to detect and promptly fire bad real estate agents before you become a victim of lack of professionalism or purposeful, outright bad ethics.

good real estate agents near me

Good Real Estate Agents Near Me

First of all, let's go over what you want to look for and what you want to avoid when you start looking for "good real estate agents near me".

8,265 Views, 4 Comments

Pre-Approval Definition vs Pre-Qualified Home Loans

A lot of clients, buyer or seller and some real estate professionals lack understanding about the substantial difference between a pre-approval definition and pre-qualified home loans and unfortunately cost some the dream of buying a home.

There are several reasons both Realtors and sellers want buyers to fit the pre-approval definition as it means the buyer has spoken to a lender and has the financial capacity to follow through on a purchase.

pre approval definition

Savvy Realtors that are going to help list a property also want the seller to get pre-approved if the Realtor is going to help them with a home purchase as well before listing the current property.

Pre-qualified home loans are a positive signal, but

1,877 Views, 3 Comments