Thursday, October 24, 2013 / by Jessica Deubner
Housing demand remains high in central Ohio September home sales were 13.1 percent higher than last year demonstrating that housing demand in the Columbus region continues to remain strong. Sales for residential homes and condos through the third quarter rose 22.4 percent from last year and stand as the second highest on record for the first nine months of the year according to Columbus REALTORS®.
Condo sales were up 8.3 percent in September and are up 26.5 percent for the year. Existing home sales jumped 14 percent in September and are 21.7 ahead of last year.
“The demand is there,” says Chris Pedon, 2013 president of Columbus REALTORS®. “Kids are back in school, fall is here, and the holidays are around the corner. But we still have a lot of folks who are looking to buy a home.”
The number of homes on the market last month remained higher than much of 2013, but is still 5.9 percent lower than inventory levels one year ago.
Prices maintain th ...
Monday, October 21, 2013 / by Jessica Deubner
Distressed housing market share dropping
(10/22/13) As the seasons transition, so too does the marketplace. New listings rose 20.1 percent since Q3-2012 for traditional homes but fell 21.8 percent for lender-mediated properties. Traditional home closed sales rose 27.0 percent while lender-mediated sales fell 0.7 percent compared to 2012.
That mix of activity has brought the percentage of all new li ...
Sunday, July 21, 2013 / by Jessica Deubner
Why adjustable-rate mortgages are hot again
PHILIPPE HUGUEN/AFP/GETTY IMAGES - When buying a house, it is important to calculate which mortgage is best for you. Many borrowers are considering adjustable-rate mortgages, which fell out of favor during the recession and recovery.
The Washington Post
by Katherine Reynolds Lewis, Published: July 18
When Brian Bartlett bought a one-bedroom condominium in Rosslyn last month, he asked his mortgage broker to price a range of mortgages, from a one-year adjustable rate to a 30-year fixed rate. The seven-year ARM ended up giving him the best rate without picking an uncomfortably short time frame.
“My decision was pretty much to get the lowest rate possible while also managing the risk,” said Bartlett, who is 29 and single. “It was right in the middle, the sweet spot for where I am in my age and my situation. Seven years from now, I’ll probably be in a much different place financially and in my per ...
Monday, April 22, 2013 / by Jessica Deubner
Central Ohio Housing Report - March 2013
Columbus Board of REALTORS®
Housing activity strong in the 1st quarter
Central Ohio home sale activity showed healthy increases during the first quarter of 2013. Residential home sales (4,844) were up 17.6 percent over the previous year (4,119) and the number of pending sales (3,245) were up 19.3 percent from the first three months of 2013 according to the Columbus Board of REALTORS®.
“Thus far, 2013 has been a flurry of activity from the get go,” said Chris Pedon, President of the Columbus Board of REALTORS®. “The rather mild winter weather offered eager buyers an opportunity to get a jump on finding their first – or next home – early in the year.”
The median sales price of a home sold in central Ohio in March 2013 was $135,000, up 4.9 percent compared to last year ($128,650). The average sale price of $160,233 during March was also up 4.9 percent from one year ago.
There were 3 ...
Thursday, February 21, 2013 / by Jessica Deubner
check this out...call today if you need to wrap up an FHA case # before these increases! Jessica Deubner 614-554-6013 or firstname.lastname@example.org
New FHA Mortgage Insurance Premiums, Downpayment Minimums For Spring 2013
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Data from Inside FHA Lending shows that mortgage bankers funded $233 billion in FHA-insured loans last year, marking a 22 percent increase from the year prior. Recently announced changes, however, may derail that success.
For all FHA borrowers, the Federal Housing Administration has set deadlines for a new mortgage insurance premium schedule; an increase in downpayment minimums; and, new underwriting standards for loans with low credit scores.
All FHA mortgages will be affected.
Click here ...