First, Thank You to everyone that has helped by contacting your state representatives to oppose Congress in removing the Mortgage Interest Deduction (MID) for homeowners. Due to our grass roots efforts and your actions we have 162 Representatives from the House of Representatives supporting H. Res 25 to not further restrict the MID! Let's continue working to keep our mortgage interest deduction, and stop the mortgage reform from stalling our economy—we are all working too hard to get it to rebound!
Housing activity is increasing! That is a good news for stability here in Central Ohio. We have a higher number of homes that went on the market in May 2011 than in May 2010, but we have a higher number in-contracts too! This indicates a healthy sign for our housing market. Home prices have inched up from April 2011 to May 2011 as well. The May 2011 average sale price is up 2.6% over the the average sale price for April 2011. And, the number of closings from April 2011 to May 2011 were also up—15.7% more closings. Another positive sign is the average sale amount and number of closings are up over the April and May 2009 numbers. April and May 2010 did slightly better (4.7% better than 2011) but this spike was due to the government's Home Buyer Tax Credit program that had a deadline of being in-contract by the end of April and closing by the end of June 2010.
So, let's all keep working together and keep Central Ohio a great place to enjoy life!
Tuesday, June 21, 2011
Tuesday, June 14, 2011
Listings for June...
If you click any of the first four you can see photos and a virtual tour. If you want a link to any of these, let me know and I'll email you! The second 4 we don't have the links up yet!
1205 Brittany Ln Upper Arlington Ohio $639,800
4825 Elks Dr Columbus OH $141,900
464E Jeffrey Pl Columbus Ohio $99,800
6360 Well Fleet Columbus Ohio $79,800
2941 Pickwick Dr $329,900
4026 Reed Road $244,900
1212 Ashland Ave $149,900
1240 Ashland Ave $84,900
1205 Brittany Ln Upper Arlington Ohio $639,800
4825 Elks Dr Columbus OH $141,900
464E Jeffrey Pl Columbus Ohio $99,800
6360 Well Fleet Columbus Ohio $79,800
2941 Pickwick Dr $329,900
4026 Reed Road $244,900
1212 Ashland Ave $149,900
1240 Ashland Ave $84,900
Let's Stop the DOOM & GLOOM-at least in real estate!
Whew, avoided the end of the world a couple of weeks ago! But wait the continuation of doom and gloom continues..... now we have the “end of the world” type coverage the Case-Shiller housing study is announcing, GEEZ, maybe we are nearing the end.
Just kidding folks, but seriously I am amazed at the attention this report gets. It covers 20 markets, YES ONLY 20, and that is just one of its many flaws. Yet many consider it “the be-all-and-end-all” economic indicator that defines our entire national housing profile. We all know real estate is local, and it is unfortunate that the reporting on a 20-city “national” index can have such a jarring impact on otherwise rational people.
Look at some of the headlines the other day:
“Home prices at lowest point since 2006 bust”
“Home values continue downward churn”
“No relief in sight’ for falling home prices”
And even in paradise – Maui- the front page headline in the paper screamed “Crash Spreads.” And Maui isn’t one of the 20 markets the report covers. In fact the nearest market covered is San Diego, a mere 2500 miles away!
Ok, if you are a home owner or are buying or selling a home, you have a right to be nervous, but I can’t say this enough. Now is the smartest time in my 10 years in real estate to buy a home if you have the lifestyle reason, financial stability and viability to do so.
And it’s all about “Triple I…P”. Inventory, Interest rates, Incentives and Pricing. Start with inventory, because most communities have seen a rise in the amount of homes on the market, you have more choices. Interest rates for mortgages remain at near-historic lows and have actually trended down over the last 7 weeks, with Freddie Mac reporting 30-year fixed rates now averaging 4.55%. Incentives are the tax advantages to home ownership. And of course, there are prices. Prices are down from mid-decade highs, but in many, many markets are showing stability, slight declines or even increases. Home affordability remains near record levels and the price-to-value proposition in most markets is extremely compelling.
If you are interested in buying a home, you owe it to yourself to contact me to do a review on your options. Look at homes, do a rent vs. buy analysis, explore what is available in your price range.
Don’t just take my word for it. Do your homework.
You might just be surprised that the end of the world isn’t here yet … at least until next month’s report.
Here is some other food for thought – consumer sentiment is improving. Consumer spending has been up 10 months in a row. Also, most economists are predicting a 2.8% GDP growth in Q2 up from 1.8% in Q1, certainly not great but at least going up. Obviously the signs for the economy are showing improvement. Home ownership is an investment in your lifestyle and not for everyone. I am a huge proponent of the longterm benefits of owning. Call, email, or text me anytime! 614-657-2005 Amy Bumpus
Wednesday, June 8, 2011
Want to keep you home mortgage interest deduction for your taxes? You should be able to choose your own real estate agent!
Take it from Me: The Mortgage Interest Deduction (MID) is vital to both home ownership and our economy! Congress needs to hear from you. Tell your representatives to LEAVE THE Mortgage Interest Deduction ALONE!Right now is the right time to urge Congress to preserve, protect and defend the mortgage interest deduction (MID) before they whittle down MID at the expense of other more expedient budget cuts. Consider the consequences if homeowners and buyers lose the time-honored and cherished MID deduction. This tax deduction built the dream of homeownership in America. The bottom line is you may well lose personally, and not just on the value of your home, but our Nation's economy will be affected by this change as well. Your action today is urgent. Please send your email letter asking your U.S. Representative to cosponsor H.Res25, a bipartisan House resolution that affirms the value and importance of the Mortgage Interest Deduction. We must speak loudly and clearly with one voice to ensure the further recovery of our economy and the housing market and educate every legislator about how much the MID matters. So please, take action to Preserve, Protect and Defend the MID. No economic recovery is possible without a vibrant housing market. Here is a link to an inverview with Ronald Phipps, the President of the NAR, please click this link to watch the video (it takes a minute to load and start playing): Please don't hesitate to contact me anytime with any questions. Thank you for your help. Value your home? Value your CHOICE? I want you to know that when you work with me, I will provide the service you need, and the service you want! As a realtor, a licensed real estate sales agent in the state of Ohio, I must be aligned with a real estate brokerage (in my case Coldwell Banker King Thompson and am very happy with this brokerage), but I am an independent contractor. My partners and I run our own business, create our own standards for service and quality above what CBKT recommends. Technically, all contracts of mine belong to the brokerage, not to me or Team Benadum, and for the most part this works out fine. However, I spend my time, my efforts, and my own dollars to build my own business, and I take responsibility for my clients needs and my fiduciary responsibility to them—that I am personally sworn to the State of Ohio licensing to uphold. I take my consulting business very seriously and if I don't know something I FIND the ANSWER—AND get the job done. I find it appalling that some brokerages will not let you out of a listing or buying contract if you are not happy with your selected realtor/sales agent. Instead, they offer other realtors within their brokerage to fulfill the contract. I guarantee if you are not happy working with my team, we simply terminate the listing. We provide you with the paperwork to terminate and remove your home from the market. Then you can select from any of the licensed realtors (some are awesome, some are not so good, this is the unfortunate truth in any industry) in the area...one that you CHOOSE. I know most of my clients work with Team Benadum because they trust they'll receive the best possible help. If you don't agree, you don't have to continue working with us. We are proud to say that we've terminated very few contracts over the past 10 years (yes one client of mine decided against a relocation so we removed the home from the market....with another job opportunity the relocation dept convinced her to go with another agent, but she wasn't happy and found she couldn't get rid of the brokerage she wasn't happy with--she wound up letting the listing expire, having her price too high prevented a sale and she was rid of the agent and borkerage). So, if you aren't happy, your best strategy may be to remove you home from the market and then find an agent that you are compatible with and can successfully work with to achieve your goal of selling and/or buying a home. Don't ever hesitate to call me with any real estate questions... I'm always available to help. I find that we get many referrals from our wonderful clients. work hard and for the people that want us to work for them! |
Subscribe to:
Posts (Atom)