Tuesday, June 21, 2011

More Good News in a Bad News World!

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 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

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!