Very often when working with buyer clients, I find they want to know why they should be thinking about resale, before they have even purchased a home. In this economy of the 21st century people are buying and selling Real Estate on the average of 2-5 years (ages 23-40), and even more often if they are just climbing the corporate ladder and are in for many relocations in a shorter period of time. This being said, in many cities in the US, with a few in the Cincinnati area, there is little to no appreciation in just 2 years time, and depending on the market, there may be even less. It’s... [more...]

This is a question that often occurs during the time leading up to the closing, or while sitting in the closing room, signing your life away. As and ABR, I work hard to educate my clients to the importance of protecting your own investment, while the bank REQUIRES you to pay to protect their investment. I recommend buying title insurance to protect the money you have in the house the day you buy it, or your down payment, and to protect the equity you gain as you live and improve your homes over the years. If something was found incorrect with the title while you have lived and owned your property,... [more...]

The HUD Statement Whether I am working with a first time buyer or seller, I am always asked ‘What are typical closing costs for selling or buying a home?’ For buyers, a great deal depends on your down payment, and the day of the month you close the loan. There are less pre-paid costs towards the end of the month. With taxes, depending on the month of the year, you may be asked to escrow very little money for taxes, or up to 8 months. For the seller, the costs are more predictable, except if you have agreed to pay closing costs for the buyer. I have included a sample HUD-1 Settlement... [more...]

There is so much more involved to getting a mortgage than getting the “Lowest Rate” Here are a few things I do for my valued clients, proving that its about the service provided and the whole package and not only about the rate… 1. I personally like to evaluate a client’s full financial picture. Maybe they should finance 100% and eliminate all of their debt or bits and pieces of it. 2. Should they do one loan at 100% or two loans such as 80/20, pay PMI (Private Mortgage Insurance) or have a higher interest rate and no PMI. 3. Each loan is custom tailored to fit the client’s... [more...]

There is so much more involved to getting a mortgage than getting the “Lowest Rate” Here are a few things I do for my valued clients, proving that its about the service provided and the whole package and not only about the rate… I personally like to evaluate a client’s full financial picture. Maybe they should finance 100% and eliminate all of their debt or bits and pieces of it. Should they do one loan at 100% or two loans such as 80/20, pay PMI (Private Mortgage Insurance) or have a higher interest rate and no PMI. Each loan is custom tailored to fit the client’s... [more...]

I was recently scanning the loan programs for a client of mine looking for 100% financing. It turns out that 100% financing is the most common form of financing in the US today. After looking into some options for them, this particular “No Money Down Plusâ€? program seemed to be a fit for my clients. Sharon Natarus of Wells Fargo has made some additional comments below on this new product: Here are some thoughts on the 100% NO Money Down Program. Many people have chosen the 80/20 program over the last several years, but there is a nice alternative for people that one to have “one... [more...]

As I go about representing my buyers as an ABR, I find the same topics surfacing each time my clients go through a Whole House Inspection. The issue of the grounded and not grounded outlets. What does it mean, what are they used for, and what happens if they aren’t grounded. After weeks of begging for simple answers to this question, I give you my trusted Licensed Whole House Inspectors response… Amy, In response to your questions pertaining to receptacles commonly found in residential homes I will start with the basics of the old and the new. First, though I would like to identify... [more...]