Home in Oakwood

Highlighted home of the week:  248 Volusia - 3 bedroom home in Oakwood.  Old charm with all the modern amenities in this home.  Hardwood floors, high ceilings, unique features (booth seating area, elevator-not warranted), two fireplaces, gorgeous staircase...and many more, you have to see what this house entails! Great for enjoying the outdoors with the huge deck in the back, fenced in yard and great landscaping.  You will fall in love with this home the moment you step foot in it! 

Oakwood is such a beautiful area in the fall!  So many older trees that turn this area of Dayton into a sea of red, yellow and orange. People are always in the streets taking leisurely walks, running, biking...and always friendly.  The citizens of Oakwood take pride in their city and it shows! 

Please come check out the open house in Oakwood for the 3 bedroom home at 248 Volusia at 1pm to 3pm on Sunday, October 30.  See you there!  Stop by to get your treat!!!!

USDA Loans

USDA loans, most of us have heard of them, but are not sure what they are all about. The USDA loan is a great option for those that do qualify.  Here are some basics:

1. 100% financing (with a Guarantee fee of 2% AND a .30 monthly MI fee)
2. Has to be a RESIDENTIAL property in a USDA deemed rural area; cannot be for the purchase of a farm
3. Available to low and moderate income borrowers
4. USDA income is based on the number of persons that will be living in the home
5. Income thresholds change based on 1-4, 5-8 and 8+ household sizes
6. As a general rule, properties with acreage in excess of 5 acres will be deemed excessive and ineligible
7. If any of the land is planted, the property is ineligible
8. Any outbuildings related to farming, the property will be ineligible
9. USDA loans are underwritten by the lender and then secondarily underwritten by the state USDA office

For more detailed information, please visit the USDA website: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1.

If you are considering purchasing property in a rural area, it may be worth your time to check it out. I know in the Dayton, OH area, there are quite a few areas that qualify, some areas will suprise you.  Some areas of Springboro and Waynesville qualify along with Trotwood, Xenia and possibly Bellbrook.

If you are a first time homebuyer that feels strapped to put down the 3.5%, why not check out this option? It may be in your best interest to move out a little further to get a 100% financed home loan.

Check with your bank to see if they work with these loans.  Good luck!

Bellbrook Open House

Awesome 4 bedroom, 2.5 bath home has been updated and is ready for you to move in!  Large, fenced yard with 2 patios and a swimming pool with a HUGE deck!  Bellbrook/Sugarcreek Schools. Close to all amenities. 

Stop by from 1 pm to 3 pm on Sunday, October 9.   2123 S Linda, Bellbrook, OH.  Look forward to seeing you there!

What do this weekend in the Dayton Region!!!

This weekend is suppose to be a great fall weekend!  The leaves are starting to turn vibrant colors ,which shows that fall is here!  Want to get out and enjoy the weather?  Saturday will be a great day to catch the Yellow Springs Street Fair. The village hosts one in the summer and one in the fall.  It is always a great time!  Tons of vendors. Lots of great food. And a chance to get out and enjoy a fall day.  Here is the link:  http://www.yellowspringsohio.org/street_fair.shtml  You may experience a nice delay getting into Yellow Springs depending on the time of day! 

Fridays in Ohio mean High School Football!  Here is the link to catch your favorite team!  http://www.daytondailynews.com/sports/stats/football/controller?Class=-1&Page=schedule_list&AltAction=&Nav=&Sport=1&Season=10&seasonName=2010&Player=&School=&Venue=&Schedule=&coxnet_site_id=6801&startDate=&endDate=&schoolName=
See you in the stadium!

Other fun events this weekend include First Friday Downtown Dayton, Beer Fest at the Montgomery County Fairgrounds, Sauerkraut Festival in Waynesville and Haunted Houses and Trails galore.  Here is a link for Saturday events...http://events.activedayton.com/search?swhat=&st=event&swhen=Tomorrow

I think we can all find something to do to enjoy the weather this weekend!  Make it a good one!

Short Sales THE Best Option

Read an interesting statistic the other day -- in 2010 there were at least 700,000 foreclosed homes that never were listed!!!  700,000 homeowners did not know they had an option besides foreclosure.  That is a scary number.  Those homeowners were never told.  Someone just put the foreclosure sticker on their file and on their home and moved on.  This is a serious number.  And I am here to tell you that there are options.

One of the best options out there right now for people facing difficult times is a short sale.  What is a short sale, you ask? Well, a short sale is a contract between the buyer and seller that must be approved by the seller's lender. The seller's lender is approving an agreement to settle the home owner's note for less than the full amount owed. Sounds easy. No. Definitely not easy, but worth a try!  A short sale does not hit your credit like a foreclosure.  A short sale can actually HELP you in a difficult time.  We all know someone who is going through a tough time financially.  Out of those people, how many know about this option?

Now, let me clarify, a short sale is not a sure bet.  There are procedures and hoops that need to be jumped through before everything is said and done.  A short sale approval can take an average of six months. Yes, I said six months.  Patience is key on both sides - buying and selling.  Pushing paperwork is the name of the game.  And, as a seller, you have to be motivated.  You have to want to move on and put the past behind you. In some cases, depending on the bank, sellers have been able to purchase another home within two years, as long as they qualify.

As a short sale specialist, I expect challenges.  This is not an easy process.  Cooperation with the banks is key.  Keeping a level head is key.  Having a seller that really wants this to happen is key. But the feeling you get when you just helped someone avoid foreclosure and another bump in the road, is the best feeling.  All the work is worth the pleasure!!!  Do you know someone you can help?

Purchasing Real Estate

For sellers, it is a tough market.  You have to be competitive and stay IN the market as opposed to pricing outside the market.  As a buyer, it can be overwhelming.  There are so many properties to choose from, especially in the Dayton Area where I am located.  We all know when narrowing down our search, there are three things that are important. Location is a huge factor - close to school or close to work?  Condition of the property - around Dayton, people just want to move into the property and not have to sink more money into their investment right away.  And lastly, price - it is all about value to the buyer.  Yes, these things are important, we all know this.  But what about the real reason buyers buy?  It boils down to emotion.  I always hear that within 15 seconds of walking into a property, buyers know it is the one.  Emotion.  How does it make you feel?  There are ways to overcome the three factors of buying, but what makes you buy in the long run...emotion.  Emotion is a powerful seller.  Is it the way the neighborhood feels? Is it the way the entrance makes you feel?  What are your emotions as a buyer? It all boils down to this one factor.  No one can sway your emotion one way or the other - only you have that feeling.  So as a Realtor, I enjoy hearing about your emotion. It is exciting!  It is like hitting the jackpot!!!