Move up or Stay Put?

Between price reductions and record low interest rates, many homeowners are asking themselves if now is a good time to move up.

Buying under today's conditions can mean getting more home for less buck. You'll pay a smaller amount of interest over time and can snag that dream home for a fraction of it's boom era price. Additionally, with the large number of distressed homes on the market, you may even find a home at a steep 10 to 20 percent discount.

Before you start mentally decorating that dream home, however, you should consider what “moving up” means for you. For some buyers, moving up means a better neighborhood. For others it means a bigger home with more space or amenities.

Here are five questions every buyer should consider before making the move. First, where do you stand on equity? In simple terms, equity is the difference between what you owe and what your home is worth. You might already know this amount, but if you don't, you can always call your lender to get more details.

Despite recent declines in home prices -- and some areas have had steeper declines than others -- if you've lived in your home for over five years you may have built a substantial amount of equity. Equity gives you some wiggle room during the selling process. You can rest a bit easier that you will sell for a profit instead of a loss.

Second, what is the state of your financial situation? Some jobs are more stable than others. You do not want to take on a new financial burden if you fear that there may be downsizing at your company. Are you a two income household? What would happen if one of you were to lose your job? Can you really afford to move up? This means having at least 20 percent to put down, being able to pay off your current mortgage, and not having to lay a finger on your retirement funds to make the new purchase.

Third, are you willing to move during a market that is still seeing home price declines. Yes, you might be able to get into your dream home, but will be you also might see your new home's value decline in the months and years to come.

Fourth, what is pricing like for your current neighborhood? You may wish to get a comprehensive market analysis to find out the current value of your home as well as the specifics on your neighborhood competition.

Finally, what is your real reason for wanting to move? Are you an empty nester wanting to simplify life by downsizing to a smaller home, condo, or townhome? Are multiple generations living under the same roof? Are you wanting to move to a newer neighborhood? Consider what it is that you really want.

Does moving up make sense for you at this moment in time? While there are some great deals to be had, it has to make good financial sense right now.

Original article written by Carla Hill of Realty Times can be found at this link.

NEW LISTING IN WESTERVILLE!!

JUST LISTED!!

~5290 Derringer Rd~

SOFT CONTEMPORARY HOME…nestled onto 1/3+ acre mature treed lot & backing to the 18th green of Little Turtle Golf Course. Ceramic Foyer. Sunken Den & Great Room with fireplace and wet bar. Updated hardwood floors, hardiplank siding, stainless steel appliances, carpet, paint, roof & more! Master Suite with walk-in closet, sauna, private verandah, loft & whirlpool bath. Finished basement with Recreation/Theatre Room. 3 BR's & 2 Baths! Nearly 2,900 SF! Westerville Schools! Only $279,900! Call DeLena today!

A Buyer's Wish List

It's always good to have a map when you're traveling unfamiliar roads. It's easy to get lost or to make a wrong turn. Having a good map is doubly important when you are traversing the roads of real estate.
Having a real estate wish list ready before you venture into the market will help you avoid impulsive decisions, delayed decision making, and spending too much time looking at homes you'd never consider.
Everyone wants something a little different when it comes to their dream home. Some people must have beautiful hardwoods while others prefer carpet. Some buyers want a home in a great school district while older couples may prefer to be near their favorite restaurants or theaters.
Having a wish list is a great way to give your real estate agent a good idea of what you want. This will mean they can show you only the best homes for your needs.
What sort of items should you add to your wish list? Consider the following items:

Home Type: Are you a condo, townhome, or single-family detached kind of buyer? There are great resources all over the web that can show you the pros and cons of each of these living situations. What's right for one buyer may not be right for another. Condos are great for those looking for low maintenance homes. A townhome can give you lots of space, but you better like stairs! Single-family homes come in all shapes and sizes. What one are you looking for?

School preferences: Do you have children or plan on having them in the near future? The schools in the district are certainly something you want to inquire about.

Neighborhoods: Whether you want a quiet suburban neighborhood or a bustling walkable downtown spot, there's something for everyone. Some people want to have a prestigious zipcode or a home in a gated community with a strict HOA. Do you want to stay in your current neighborhood or near family?

Home Condition: Some buyers want a home that is move-in ready. They don't want to mess with messy repairs. Does this sound like you? Are you instead a buyer looking for a deal on a fabulous home that just needs a little work? A fixer-up might be more your speed.

Architectural Style: Do you love the sprawling one floor plan of a Ranch style home? Does a charming French Country style home tickle your fancy? An easy way to learn more about home styles is to look at home plans online.

Home Features: This is where you can really have some fun! Consider the following and what features are most important to you: garage, great room, formal dining room, mudroom, butler's pantry, home office/study, built-ins, master suite, first-floor master, floor-to-floor carpet, outdoor living space, stainless steel appliances, granite, and other finishes.Once you've written out your wish list, give some real thought to what items you're willing to compromise on. You may prefer to have a corner lot, but if an otherwise perfect home comes along without the corner view, would you be willing to put in an offer?
You may want a move-in ready home, but if you see a great home with a stellar price that needs an updated kitchen would you make a move?

Original post written by Carla Hill of Realty Times can be found here 

NEW LISTING in GAHANNA!

JUST LISTED!

~ 4989 Magnolia Blossom Blvd.~

GORGEOUS AND UPDATED HOME...nestled onto an extensively landscaped and mature treed lot with Decks and Paver Patio! ~$40K in recent updates includes windows, carpet, flooring, remodeled Kitchen with white cabs, updated Baths, electrical panel, and much more! Finished lower level with fireplace, Family Room, and Recreation Room. Master Suite with private and updated Full Bath. "Dream" Kitchen! Too many extras to describe! 4 BR's & 2.5 Baths. Nearly 1,800 SF! Westerville Schools. Only $139,900! Call DeLena Today!

NEW LISTING IN UPPER ARLINGTON

JUST LISTED!

~3897 Ritamarie Drive~

MUCH LOVED FOUR LEVEL HOME! ~1/3 acre fenced and extensively landscaped lot with Deck, hot tub & Patio. ~3100 SF on four finished levels! Hardwood floors. New carpet '10. Kitchen has white cabinets & granite countertops and walks out to a Screened Porch. Master Suite with private Bath. Family Room with brick Fireplace. Finished 4th level with 2 Recreation Rooms. Updated furnace, roof, central air & more! 4 BR’s & 2.5 Baths! Upper Arlington schools! Only $ 297,700! Call DeLena Today!

NEW LISTING in POWELL!

JUST LISTED!

~ 8198 Coldwater Dr ~



EXTENSIVELY UPGRADED! Bobb Webb Ranch “patio style” home in gated section of Lakes Edge at Golf Village with a view of the 6^th hole/#7 tee! Two finished levels on ~1/3 acre wooded lot with paver patio. Very open with tall ceilings and windowed walls. Hardwood floors everywhere! Den/Bonus Room. Kitchen with cherry cabinets and granite countertops. Master Suite with luxury bath. Finished Basement with Recreation Room & In-Law Suite and so much more! 4 BRs & 3.5 Baths. Nearly 4,300 SF! Olentangy Schools. Only $524,900! Call DeLena Today!

NEW LISTING IN NEW ALBANY!

JUST LISTED!

~5132 Babbitt Rd~

$99,900! New Albany Schools! Call DeLena today!

ONE STORY HOME…

… Nestled onto over 1/2 acre mature treed lot. Close to everything. Being sold "as-is", but priced accordingly. New carpet & flooring 2010. New Aerator 2012. Master Bedroom has private shower Bath. Living Room has wood-burning stove. Fully applianced Kitchen. Full basement & room to build a Garage. Nearly 1,200 SF! 3 BR’s & 2Baths! Only

QUALITY UNMATCHED!

JUST LISTED!

~183 S. Sunbury Rd~

All brick "English" home admired by most! Unobstructed Hoover views. ~3/4 acre extensively landscaped lot. Meticulously maintained home with gleaming wood floors, high ceilings & wide halls. Gorgeous 1st floor Master Suite with whirlpool Bath & french doors to paver Patio. Two possible In law suites with Kitchens , Baths, & Living areas. Finished Basement with Theatre & Exercise area. Extraordinary! 4 BR’s & 4.5 Baths! Nearly 5,600 SF! Westerville schools. Only $474,700! Call DeLena today!

Spring Listings In Full Bloom!

Nature is in full bloom across the nation. Many of today’s homeowners are unaware that Spring can be the ultimate time to list a home for sale. From beautiful lawns to temperate weather it’s prime time to lure in buyers.

Spring offers up a wide array of natural beauty. Green lawns, budding roses, and fragrant blossoms treat the eye and nose at every turn. This particular Spring, however, has a leg up on previous years.
Interest rates are still near historic lows, hovering well below 4.0 percent for the 30-year fixed rate mortgage. This translates to favorable terms for eager buyers.

Jobs have begun to return in sectors all across the economy, which equals into a larger pool of eligible and willing buyers. Finally, as home prices have stabilized more homes are now within reach of more buyers. Affordability rates are at generational highs.

Are you a seller who will be looking to buy? Today’s market conditions make for a great time to buy and move up (if you have equity built in your home). Let Springtime showcase your home in the most natural light and “spring” a buyer into action.

Need a reason for selling this season? Consider nature’s paintbrush. Curb appeal is your home’s first impression. Many designers create this by painting the front door or a home or adding a punch of color with , but Spring means that your punches of color need not end at the front step.

Add flower beds around your mailbox, trees, and some to line your walkways. Prune back trees and shrubs to give a neat and orderly appearance.

Finally, take a good, hard look at the exterior of your home. Spring is a good time to break out the paint and give your home a few touch ups. Clean out gutters and clean up any trash.



Next, consider the beautiful weather. Who wants to look at houses during ice and snow? Okay, so there are plenty of buyers who brave those elements, but having an open house or showing during beautiful Spring weather is always a plus. Instead of too hot or too cold your guests will be just right.

Finally, most families prefer to pack up kids when school is taking a break. That means they want to move during the Summer months. What does this mean for sellers? It means families are looking to buy in the Spring. This gives them plenty of time to look at homes and then go to closing, which can take from a few weeks to over a month.

Springtime is full of new growth opportunities. So, stop and smell the roses ... and list that home for sale!

Original post written by Carla Hill of Realty Times can be found here 

First-Time Buyer Mistakes to Avoid

You've finally decided that now is the time for you to jump into the housing market! Perhaps you've done the math and want to take advantage of historically low interest rates and high levels of affordability. Maybe you have  new family that is quickly outgrowing your little rental. No matter the reason, buying real estate is a big responsibility. There are several rookie mistakes that many first-time home buyers can make. Keep reading for how to avoid them!

First, first-timers underestimate the importance of finding the right real estate agent. Not all agents are equal. Not only do their experience levels and commission rates vary widely, but every agent has their own unique personality. You want to be sure you find an agent that you feel comfortable with and that you respect. 

In order to find the best fit agent for your needs, set up several interviews with local agents. Ask them about their business. Do they have a cell number where you can reach them? Do they web conference on days you can't meet? How often do they send prospective homes to buyers? Be sure to ask for testimonials and references. Finally, just get a feel for how your two personalities will mesh. Does the agent seem to have your best interest at heart? Are they giving you the respect you deserve or treating you like a dunce?

Next, a common mistake for first-time agents is to consider what type of home you want. If you know ahead of time what you are looking for, the price range, as well as what you're willing to compromise on, you'll be much more likely to make a decision quickly about buying a specific home. 

This is important for two reasons. You don't want to make an impulsive decision, but you also don't want to wait so long that someone else swoops in and buys the house before you can make an offer! 

The third mistake is not considering that a home is an investment -- one where you don't want to lose your shirt down the line. Is this home priced right? Compare it to other similar homes. Is this home in a desirable location or is it next to a busy street, etc? Will is require a lot of work? When you go to resell this home, you want to make a profit or break even. 

You'll need to consider that you'll probably pay an agent a commission and will be paying closing costs at selling time. This is extra money on top of what you need to make on the sale of the home to break even.  Most experts say you need to stay in a home for at least 3 to 5 years in order to break even. This time frame could be even longer if home values continue to fall. Remember, homeownership is a long-term investment.

Next, ask your lender lots of questions and be proactive about finding the best deal. Different lenders will offer you different rates. Research your options. Would you be better served with a 15-year or 30-year note? 

Ask lots of questions about the difference between adjustable and fixed rate mortgages. Learn about points. Find out how much interest you'll pay over the life of the loan. The lender is there to serve you, so don't be shy about getting the information you need.

Finally, don't be greedy or low-ball sellers. This may be a buyers market, but if you offer too little or ask too much in concessions you may turn the seller off. They don't have to sell their home to you! 

Avoid these common first-time buyer mistakes and you're sure to have a fun and rewarding buying experience!

Original post written by Carla Hill of Realty Times can be found here

EXTREMELY NICE & EXTENSIVELY UPGRADED...

JUST LISTED!

~8108 Millway Loop~

Two-Story home on ~1/3 acre lot with custom paver patio! Gorgeous wood floors everywhere! Two-Story Great Room with wood floors, wall of windows & floor to ceiling stone fireplace. "Dream" Kitchen with tons of maple cabinets, granite countertops & island. Master Suite boasts 2 walk-in closets & whirlpool Bath. Full Basement, white 6 panel doors, irrigation, sec system & so much more! 4 BR's & 3.5 Baths. Over 3,200 SF. Olentangy Schools. Only $429,900! Call Delena Today!

NEW LISTING in WESTERVILLE!!

JUST LISTED!

~4951Whistlewood Lane~

LOCATED ON THE 17^th  HOLE!

Beautiful condo in Little Turtle. Two story with hardwood floors, new A/C ~2010, updated Kitchen with granite countertops. Master Bedroom has private Bath and Balcony. Finished lower level with gas log Fireplace, 3rd bedroom or Den. New Stanic sliding glass doors in Master Bedroom & Dining room. Huge deck with views of golf course. Seller will pay 6 months of condo fees with reasonable offer. 2 BR’s & 2.5 Baths! Nearly 2,100 SF! Only $ 112,500! Westerville schools! Call DeLena today!

The Benefits of Owning a Home

We all know the social benefits of owning a home. Homeownership gives family stability, creates lower high school dropout rates, and of course gives the opportunity to create meaningful and lasting relationships.

In addition to these great pluses, owning a home can be your largest financial asset.
First, you'll have access to homeowner tax breaks, which include the mortgage interest deduction (MID), property tax deduction, and credits for green-friendly updates to your home.
What all of these deductions mean is you can save money on your taxes each year. That's money back in your pocket. Additionally, the eco updates you do will save you money in the long run on operating costs of the house. Some of these great updates can include energy efficient windows and doors, and solar panels.

You may have heard that real estate is a good investment. You may also be wondering if that is still true when home values are declining. The truth is that real estate has always been a good “long-term” investment. The fact that many people were making bank by buying and selling real estate in the mid-2000's was more of a fluke than the norm. Twenty to fifty percent appreciation rates are not the norm. In general, during healthy economic times, appreciation averages four to six percent. The National Association of Realtors (NAR) reports that from 1972 to 2005 appreciation averaged 6.5 percent.

Today's home prices are still declining, but financial experts predict this will abate in the next year or so and yearly appreciation rates will return. As you begin to see appreciation, you'll start to earn equity. This is one of the biggest advantages homeownership has over renting. Renting means paying money to the landlord. Once that rent check is written that money is gone. As you pay your monthly mortgage payment you're building equity. You will one day soon owe less than the home is worth. The difference in between is equity.

Homeownership also gives you a certain financial freedom and stability. You can take out a home equity loan for improvements or if you need some cash. You can sell your home down the road and use those profits towards retirement, a dream home, or even a dream vacation.

Homeownership is a great way to introduce long term stability to your life, even in uncertain economic times. Today's historically low interest rates and low prices mean now is a great time to make an investment in your future.

Original post written by Carla Hill of Realty Times can be found here 

Understanding Appraisals

It's a term homeowners and sellers hear all the time. What does "appraisal" really mean and how will it affect your ability to make a deal?

As the market dips and continues to struggle across the nation, many sellers are finding themselves in an unhappy predicament. They have a buyer lined up and an offer on the table, but wait...... the buyer's financing has now fallen through. The asking price of the home has come in over the appraised value. 

This has led to a unnaturally high number of contract cancellations. According to the National Association of Realtors (NAR), "Twenty-one percent of NAR members in January reported delays in contracts, and 33 percent said contracts fell through.. The number of contract cancellations remains mostly unchanged from December. An increase in the past year of contract cancellations or delays has been blamed on more lenders declining mortgage applications from stricter underwriting standards and low appraisals coming in under the agreed upon contract price."

Here are some things you need to know about appraisals:

First, it's true that lenders usually won't write a mortgage for more than a home is "worth". This sets them up for a large financial burden should the prospective borrower default on their loan. They will, instead, write a mortgage for whichever price is less, be it the sale price or the appraised value. From a business standpoint it is logical. For a stalled and unpredictable housing market, it is downright frustrating.

An appraisal is figured by your local tax office (appraiser's office). They calculate what the market value of your home is based on, the square footage and specifics of your home. Do you have a fireplace, hardwood floors, and four bedrooms? You'll pay more in taxes and have a higher appraised home than the same home with no fireplace and laminate floors.
You generally receive a statement from the tax office each year showing you the appraised value of your home. If you feel this is in error be sure to contest it! 

It is much more likely in this market that homes are appraised for less than sellers are wanting to sell their home for. This is due partly to an ailing labor market that continues to drag home prices down. Appraisals are a tricky business. They are objective and are easily influenced by local market factors. 

Your local area's market conditions directly affect the appraised value of your home. If there are 10 houses on your street and 4 of them are in foreclosure, you're in for a shock when it comes to the current value of your home. These foreclosed homes could sell at a 15 to 20 percent discount over your home.

According to the NAR, "Distressed sales, which tend to sell at steep discounts, continue to hamper home prices nationwide. Foreclosures and short sales accounted for 35 percent of all January home sales, which is up slightly from 32 percent in December."


Original article written by Carla Hill for Realty Times at this link 

NEW LISTING in WESTERVILLE!

JUST LISTED!

~7052 Laver Ln.~

FANTASTIC OPEN FLOOR PLAN!

Charming home with open floor plan. Vaulted Great Room with Fireplace. Dining Room. Spacious eat in Kitchen walks out to double patios.1st floor Master Suite with private Bath and walk -in closet. Finished lower level with 3^rd full Bath & 2 Recreation Rooms. Backs to treed preserve. Loft & much more! 3 BR’s & 3.5 Baths! Westerville schools! Nearly 2,500 SF! Only $214,900! Call DeLena Today!

NEW LISTING in WESTERVILLE!

JUST LISTED!

~ 6726 Hilmar Dr ~

PICTURE PERFECT HOME…

…On ~1/4 acre lot backing to green space! Very open floor plan with over 2,600 SF on 3 finished levels. Vaulted Great Room. Kitchen boasts new ceramic floors & wrap around white cabinets. Loft/Den overlooks Great Room. 1st floor Master Suite with walk-in closet & garden tub. Finished Basement with huge Recreation Room. Many recent updates include: carpet, ceramic floors, paint & more! 3 BR’s & 2.5 Baths! Westerville schools! Only $231,900! Call DeLena Today!



NEW LISTING in BLACKLICK!

JUST LISTED!

~ 8127 Grant Park Ave ~

IMMACULATE...

… Two story home with neutral décor. Master Suite with huge walk-in closet and private master Bath. Fenced yard with patio. First floor Laundry. Large eat in Kitchen with bar seating opens to Family Room. Front porch. New roof ~2007, new hot water tank ~2010, ceiling fans throughout, Loft/Den. Close to parks and shopping. Nearly 1,700 SF! 3 BR’s & 2.5 Baths! Only $132,500! Licking Heights schools! Call DeLena Today!



NEW LISTING in POWELL!

JUST LISTED!

~7746 Glenmore Dr.~

FANTASTIC 4 BEDROOM, 2 STORY IN A GOLF COURSE COMMUNITY! Olentangy schools! Neutral paint & carpet throughout. Light, bright fully applianced island Kitchen opens to the Great Room with fireplace. First floor Den and formal Dining Room. Large back yard has a large, beautiful paver patio with custom gazebo & water fountain. Large Bonus Room with a closet can be the 4th bedroom. Vaulted Master Suite with private Master Bath featuring a jetted soaking tub, separate shower, large vanity & walk-in closet. Move in ready! See it today!! 4 Bedrooms & 2.5 Baths! Nearly 2,600 SF! Only $264,900. Call DeLena today!

NEW LISTING in LEWIS CENTER!

JUST LISTED!

~ 2079 Parklawn Dr ~

PICTURE PERFECT HOME ON GORGEOUS LOT!

$10,000 in recent upgrades! Kitchen has bay wall & new stainless steel appliances. Sunken Great Room with cathedral ceilings, new wood floors & french doors to custom paver Patio. Vaulted Master Suite with plant ledge, walk-in closet & garden tub. Huge, step down 4th BR / Bonus Room. Irrigation system, 6 panel doors & sooo much more! 4 BR’s & 2.5 Baths! Nearly 2,400 SF! Olentangy schools! Only $ 239,700! Call DeLena Today!

NEW LISTING in LEWIS CENTER!

JUST LISTED!

~2615 Mccumber Lane~

2012 PARADE OF HOMES MODEL BY SILVESTRI HOMES! ~4,700SF on 3 luxurious levels! Every upgrade you can imagine. ~1/3 acre treed lot. 1^st floor Master with incredible Spa Bath. 1^st floor Den with built-ins. 2^nd floor Bonus Room. Finished Lower Level boasts Recreation Room, daylight windows, custom bar & Guest Suite with full Bath. Gourmet island Kitchen with granite countertops. Sunlit Great Room with beamed ceilings. 5 BR’s & 4.5 Baths. Nearly 4,700 SF! Olentangy Schools. Only $569,900. Call DeLena Today!

NEW LISTING in NEW ALBANY!

JUST LISTED!

~ 4085 Holkham ~

EVERYTHING YOU COULD WANT! Extensively upgraded! Seller has over $850,000 in it! Walnut wood floors everywhere! Giant Island Kitchen with granite countertops opens to Hearth Room & walks out to a private courtyard.1st floor Den & Laundry. Expanded Master Suite with double tray ceiling, 2 walk-in closets & whirlpool Bath. Full, finished lower level with Recreation Room, wet bar, Den, Craft & Exercise Room, 4th bedroom & Bath. Backs to green space. Nearly 3,600 SF! New Albany schools! Only $ 624,999! Call DeLena Today!



NEW LISTING in DUBLIN!

JUST LISTED!

~ 8218 Inistork Ct ~

THIS AMBERLEIGH HOME HAS IT ALL! Custom quality throughout! Home features huge valuted Great Room with built-ins & brick fireplace. Island Kitchen with granite counters, stainless steel appliances & 42" Kitchen cabinets. 1^st floor Den. 3 car garage, beautiful woodwork & brand new stunning slate tile on much of main floor. Screened Porch and Deck overlook rear yard. Amazing finished Basement with Recreation Room & separate Guest Suite with massive custom Bathroom and sauna! Cul-dec-sac location. This one is a 10+ ! 4 BR’s & 3.5 Baths! Dublin Schools! Only $474,900! Nearly 3,600 SF! Call DeLena Today!



NEW LISTING in LEWIS CENTER!

JUST LISTED!

~ 2618 Carla Dr ~



Picture perfect Two-Story home nestled onto 1/4+ acre lot with paver patio. Hardwood floors in Foyer. Spacious, island Kitchen with oak cabinets, new granite countertops and stainless steel appliances  walks out to paver patio. Family Room has wood-burning fireplace.1st floor Den and Laundry. Master Suite has cathedral ceilings, plant ledge, walk-in closet & vaulted Bath with garden tub. Just move right in! 4 BR's and 2.5 Baths. Nearly 2,800 SF. Olentangy Schools. Only $274,900! Call DeLena Today!

NEW LISTING IN DUBLIN!

JUST LISTED!

~6849 HOLBEIN DR.~

CUSTOM BUILT TWO-STORY HOME... backing to walk path, tree lines & pond views. 5200+ SF on 3 finished levels! Everything is upgraded! "Dream" Kitchen with wrap around, 42"cherry cabinets & granite countertops. Hearth/Sitting Room. Finished, walk-out Lower Level with future Theatre, Recreation Room, Bedroom & Bath (possible In-Law Suite), custom bar & Kitchenette. A "must see" Master Suite! Gorgeous wood floors everywhere! 4 BR’s & 4.5 Baths! Dublin schools! Only $514,900! Call DeLena Today!