Below is another Gahanna real estate success story.   The key is properties that are selling quickly are properly prepared and priced for the current buyer’s market.  Foreclosures and short sales also remain popular with buyers who are looking for a bargain and are okay with making repairs and taking the associated risk with purchasing bank owned homes.

IS THIS THE RIGHT TIME TO SELL YOUR HOME?

If you’re thinking about selling your home and buying another, this is a great time to take advantage of the increased market activity.  While it is still a buyer’s market in the Columbus Ohio area, prices are still low and mortgage interest rates are historically low as well.  As I have been saying for a while, you may make a little less on selling your home, but you’ll make up for it in what you buy, if you’re planning to move up.  If you’re wondering if this is the right time for you to buy or sell your home, feel free to call me at 614-746-2115 to discuss your specific real estate needs.

Here’s the Gahanna real estate success story from Al and Tawny Whicker.  “In December of 2008, motivated by the low rates and falling house prices, we contacted Petra, Realtor with Remax Connection Realtors in Gahanna Ohio,  to ask if selling our Gahanna home of 10 years to step up to a bigger one was possible. She helped every step of the way. From recommending things we could do to make our home more appealing to buyers, to carefully pricing it and marketing it, she made the process much easier than it could have been.

What really blew us away was Petra’s marketing. She took fantastic pictures of the house, designed a beautiful flyer, created a virtual online tour with narration, and listed us on many web sites. The exposure was tremendous. In fact, as we searched the listings for our next home, it really showed how much better ours was marketed than most.

When it came to buying, Petra patiently listened, worked with our schedule, and took us to any home we wanted to see. She gave great input on pluses and minuses for each, including many things we wouldn’t have thought of, like future resale value.

In less than two months from listing, our home in Gahanna, we got an offer. Petra made sure the contract stipulated an extra week of possession after closing so we could have time to prepare our next home and move. There were no ideal homes on the listings for us that day, but one popped up the next day and we thought it would be perfect. That afternoon Petra met us there, and we were hooked at the front door. By the next day we had our offer accepted and were in contract to both sell the old house and buy our new home in Gahanna.

Petra was helpful and proactive every step of the way. We couldn’t have picked a better realtor, and are immensely thankful for Petra’s work and can-do attitude that made the whole process much easier than we expected. Thanks, Petra! We whole-heartedly recommend you for anyone buying or selling!”  Al and Tawny Whicker, proud Gahanna home owners!

I pride myself on providing the best marketing possible, for my listings.  You can view more on this recent Gahanna home sale at 414 Barwood Drive in Gahanna, Ohio 43230 and see the video on youtube below:

If you’re thinking about selling your Gahanna home, condo or real estate anywhere in Columbus and Central Ohio, I would love the opportunity to help you.  To learn more about the marketing and services I provide for selling your home in the Columbus Ohio area, please visit:  www.columbuscastles.com/sellers

Plus, if you are planning to sell your home and buy another home in the Central Ohio area, I offer special savings on the listing commission.   If you sell your current home and buy your next home with me as your buyer’s agent too, you’ll receive a 1% discount on the listing commission to sell your home in the Columbus Ohio area.  While there are some flat rate and discount mls services and for sale by owner MLS services who offer to sell Columbus Ohio real estate at a discount, you won’t receive near the level of marketing and service that I provide.  The extensive online marketing I provide really does make a difference in what you can make, when selling your home and I invite you to compare the services I provide when selling Columbus Ohio real estate to learn more.

Please call me at 614-746-2115, or complete visit:  http://www.columbuscastles.com/sellers_worth to get started.

I look forward to serving all your Gahanna and Columbus Ohio real estate needs!

Petra Hinterschied, Realtor with Remax Connection Realtors, 130 Mill Street, Gahanna, Ohio 43230, licensed since 2001 with over $50 million in Columbus Ohio real estate sales.

If you’re planning to buy Columbus Ohio real estate, you’re probably going to need a mortgage loan. In an effort to help more home buyers obtain government backed mortgages, FHA, VA and conforming mortgage limits have been increased in the Central Ohio area. Central Ohio includes Columbus and the following surrounding counties: Delaware, Franklin, Licking, Madison, Morrow, Pickaway and Union.

These government back mortgages can be used to buy single family homes, conforming condos and 2 to 4 unit multi-family owner occupied properties (meaning at least one unit has to be occupied by the owner). 2009 Maximum mortgage loan limits for homes in the Columbus Ohio area are as follows:

FHA mortgage loans for single family homes, conforming condos and 2 to 4 unit multi family properties in the Columbus Ohio area.

1 Unit = $341,250
2 Units = $436,850
3 Units = $528,050
4 Units = $656,250

FHA mortgage loans are the easiest to qualify for and require a minimum down payment of 3.5%. There are some government programs, for first time home buyers in Columbus Ohio, that provide a grant of 2.5% toward your down payment so you can buy a home with only 1% down. However, right now the interest rates are significantly higher than the going market rate for FHA mortgages.

As an example, Fifth Third Bank in Columbus Ohio has a 30 year fixed FHA mortgage rate at 4.75% right now, whereas the Ohio first time home buyer mortgage rate with the down payment assistance is at 6%. On a $100,000 mortgage loan, that’s a monthly principal and interest mortgage payment of approximately $521.64 versus $599.55. A difference of about $78.00 a month or $936.00 a year - over potentially 30 years = $28,080. So you have to weigh those numbers to decide if the 2.5% down payment assistance makes sense for your situation.

I’ve had many clients obtain a gift from a relative for their down payment or borrow against a retirement account that you can pay back over time. The latter option might make sense with the first time home buyer tax credit of up to $8,000.00, which could enable you to pay back the down payment loan shortly after you close on your home.  Learn more about the Federal First Time Home Buyer Tax Credit.

If you want to obtain a FREE mortgage pre-approval consultation to determine what your best loan option is, feel free to contact Sue Reichard, Mortgage Loan Officer with Fifth Third Bank in Columbus Ohio on her cell anytime at 614-395-4150.  Please let her know that Petra referred you.

Conventional mortgage loans for homes in the Columbus Ohio area

Conventional conforming mortgages for single family homes, conforming condos and 2 to 4 unit multi family investment properties in the Columbus Ohio area. Conventional loans typically require better credit scores and a minimum of 5% down payment, but they offer higher loan limits.

1 Unit = $417,000
2 Units =$533,850
3 Units = $645,300
4 Units = $801,950

GET A VA LOAN TO BUY A HOME WITH NO MONEY DOWN IN COLUMBUS OHIO!

VA mortgage loans are a huge benefit for qualifying veterans and military personnel enabling them to buy real estate in the Columbus Ohio area, with no money down. VA mortgage loan limits for single family homes and conforming condos, in the Columbus Ohio area are up to $417,000, with no down payment. Since the government has eliminated the no money down mortgage programs, VA is the best option for those who qualify to buy a home in Columbus Ohio with NO MONEY DOWN!

LET PETRA MAKE YOUR SEARCH FOR COLUMBUS OHIO REAL ESTATE EASIER

If you’re interested in buying a home in the Columbus Ohio area, I can make your home search easier, AT NO COST TO YOU! Start by calling me at 614-895-0496 anytime from 8am-10pm EST or anytime on my cell at 614-746-2115, to discuss your ideal home. I’ll quickly email you a list of all the current active Columbus Ohio real estate listings that best meet your needs.

Plus, to ensure you don’t miss out on any new listings that come on the market, I’ll continue to email new Central Ohio real estate listing updates directly from the official Realtor® Columbus Ohio MLS. You’ll get all the details including: photos, virtual tours, condo fees, price change updates and so much more that you won’t find in many of the online Columbus MLS searches. The Columbus Ohio MLS (multiple listing service) is the official database that all realtors® in Central Ohio use to post their real estate listings and includes: HUD Repo properties, bank owned foreclosure properties, short sales, Columbus Ohio new build inventory spec homes and more.

Get started now by completing Petra’s Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST.

2009 First Time Home Buyer Tax Credit

(Click here to see an updated post on the 2010 Expanded Tax Credit)

Are you a first time home buyer thinking about buying Columbus Ohio real estate? I don’t think there could be a better time to buy Columbus Ohio real estate. It’s still a buyer’s market - but only if you buy, of course. You can find many good deals on real estate in Columbus and throughout Central Ohio suburbs. Plus, if you’re a first time home buyer interested in buying your fist home or condo in the Columbus Ohio area, you can take advantage of the $8,000 federal tax credit for first time home buyers who buy a home between January 1 and December 1, 2009.

In addition, mortgage interest rates are at all time historical lows. I spoke with Sue Reichard, a Mortgage Loan Specialist with Fifth Third Bank in Columbus Ohio, and mortgage interest rates are around 4.75% for an FHA 30 year fixed mortgage loan. Feel free to call Sue at 614-442-3156 to get your FREE mortgage loan pre-approval before you start looking to buy your home in the Columbus Ohio area.

Here’s some quick Q&A’s to learn more about the 2009 Federal Housing first time home buyer tax credit:

Q: What’s the first time home buyer tax credit incentive for 2009?
A: You can get a tax credit of up to $8,000.00 or 10% of the purchase price of a home. You would need to buy a home for at least $80,000 to get the full $8,000.00 tax credit.

Q: Who is eligible for the first time home buyer tax credit?
A: Anyone who hasn’t had any ownership interest in or owned a home within the last 3 years.

Q: How does the first time home buyer tax credit work?
A. Every dollar of the tax credit reduces income taxes due by a dollar. Credits are claimed on an individual’s income tax return. Based upon your income and exemptions, you would use the calculations required to figure out your total tax due. Once the total tax owed has been computed, tax credits are applied to reduce the total tax bill. As an example, if you owed $8,500.00 toward your taxes the $8,000.00 tax credit would wipe out all but $500.00 of tax due.

Q: What happens if I’m eligible for the first time home buyer tax credit, but my entire income tax liability for the year is less than $8,000.00?
A. The first time home buyer tax credit is considered a “refundable” credit, meaning the IRS would send you a refund check for the difference. As an example, if your tax liability was $2,000.00, you’d get a refund of $6,000.00 from the IRS. Tax payers can determine their tax liability by referring to the tables the IRS prepares each year.

Q: Are there any income restrictions?
A: Yes, the full first time home buyer credit is available for individuals with adjusted gross income of no more than $75,000 ($150,000 if filing a joint return). The credit begins phasing out after those numbers and completely disappears at income levels of $95,000 and $170,000 on a joint return.

Q: What type of property can I buy to qualify for the first time home buyer tax credit?
A: Single family detached home, attached or detached condo or co-ops, townhouse, or any similar type of single family property in the US. You must occupy the property as your principal residence (generally defined at least 50% of the time).

Q: Do I have to repay the 2009 tax credit?
A: There is no repayment penalty as long as you don’t sell the home within 3 years of purchase. If you choose to sell within the first 3 years, the entire amount of the tax credit is due back to the federal government, at the time of the sale (a few exceptions may apply).

Q: When can I get the first time home buyer tax credit?
A: Eligible home buyers who buy a home between January 1 and December 1, 2009, have a choice. You can treat the purchase as if it had occurred on December 31, 2008, and claim the credit on your 2008 tax return that is due on April 15, 2009, to get the tax credit refund this year. If you buy between January 1 and April 15, 2009, you can simply claim the credit on your 2008 return due on April 15. If you buy after April 15, you can extend the 2008 income tax filing as late as October 15, 2009. If you’ve already filed your 2008 tax return, you can file an amended 2008 tax return on form 1040X, to obtain your tax credit refund this year. You also have the choice to wait until your 2009 tax return, due April 15, 2010, to claim the tax credit.

Q: How do I apply for the credit?
A: There isn’t any official pre-purchase authorization, approval or application process. After purchasing your home, you simply claim the tax credit on the IRS form 1040 tax return. The credit will be reflected on a new Form 5405 that will be attached to the 1040. Form 5405 can be found on the irs.gov website.

There has been some speculation that FHA (Federal Housing Administration) may permit lenders to allow first time home buyers to use the $8,000 tax credit as a down payment. As of this date, May 20, 2009, I have not been able to confirm the validity of this, with any of the Columbus Ohio lenders, bankers or mortgage brokers that I work with. Should the Federal Government allow this first time home buyer tax credit to be used as the down payment, I’ll certainly post that information here as soon as I am notified about it because that would certainly make it much easier for many first time home buyers to buy their first home. I have some buyers who are borrowing against a 401k, retirement or investment type account for their down payment, knowing that they can replenish their account, once they get the $8,000 first time home buyer tax credit refund. You can also obtain a gift from a relative for your down payment.

To learn more about the first time home buyer tax credit, visit the irs.gov website or consult your personal tax accountant or adviser.

GET FREE COLUMBUS AND CENTRAL OHIO REAL ESTATE, HUD HOME AND FORECLOSURE LISTING UPDATES

If you’re interested in buying a home in the Columbus Ohio area, I can help make your home search easier by emailing new real estate listing updates directly from the official Realtor® Columbus Ohio MLS. You’ll get all the details including: photos, virtual tours, condo fees, price change updates and so much more that you won’t find in many of the online Columbus MLS searches. The Columbus Ohio MLS includes all real estate listings in Central Ohio, by any real estate agent/broker in Central Ohio plus HUD Repo, bank owned foreclosure properties, short sales and more. Best of all, my services as your personal buyer’s agent are are FREE!

To get started complete my Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST.

Are you a doctor looking to buy Columbus Ohio real estate without a large down payment? A Columbus Ohio Mortgage Company is now offering a special physician loan program with low down payment mortgage loans for doctors and no mortgage insurance to buy a home in Central Ohio. Strategic Mortgage Company is a reputable mortgage broker providing residential and commercial mortgage loans in Columbus Ohio. Following are more details on the physician loan program for doctors in Central Ohio.

1. Physician Loan- 95% Loan to value with no mortgage insurance, loan amount from 50,000 to 650,000. Cash out to 90%. 3/3 ARM with 2 different rates that are only reviewed every Monday and allow a 60 day lock with or without a property address. The 3/3 arm adjusts every 3 years. Max change is 1.5%. Life of loan protection is 5% cap. Borrower must have automatic set up for payments to use the stated pricing and it can come from their Bank. Debt to income ratios are 33/40. Minimum credit score is 680 (lowest of both borrowers middle score). This Physician loan program doesn’t count deferred student loans. This is an important feature for new Doctors in the Columbus Ohio area. The physician loan is a portfolio product, so we can use this product for non conforming condos, and other situations that FNMA and FHLMC won’t allow.

2. Jumbo Portfolio loan- 95% loan to value up to $650,000, but if they aren’t a physician, they require mortgage insurance and finding a good MI company that will go to 95% isn’t as easy. The jumbo loan goes from $50,000 to $650,000. It’s a great product for Jumbo due to the competitive 3/3 pricing. All the rules are the same as far as minimum credit score and debt ratios, but non physicians must have mortgage insurance coverage if the LTV (loan to value ratio) is over 80% and they must include deferred student loans.

3. HELOC (home equity line of credit) up to 90% CLTV. Will waive closing costs if they have an initial draw of $5,000 for loans under $100,000, or $10,000 for loans over $100,000. The pricing varies based on credit score, but we hang around prime minus .50 for loans below $100,000 and prime minus 1.05 for loans over $100,000.

Contact Vicki Morello, Loan Officer with Strategic Mortgage on her cell phone at 614-519-0910 7 days a week, for more details. Vicki Morello has been a mortgage loan specialist in Central Ohio for over 20 years and has the experience to help you get the best mortgage loan for your needs. While this Physician Home Loan Mortgage program will help out newer doctors who may not have much money available for a down payment on a home, Vicki can help you obtain almost any kind of home mortgage loan in Central Ohio. Call her for a free consultation and she’ll be happy to help you evaluate which home mortgage loan is the best one for your situation.

Strategic mortgage in Columbus Ohio offers a variety of loan programs to meet just about anyone’s needs with competitive interest rates and closing costs. Strategic Mortgage also offers government loans such as FHA and VA and can provide you with down payment assistance grants and Ohio first time home buyer programs from non-profit organizations to keep your cash investment at closing under $500.

Unlike most mortgage brokers in Columbus Ohio, Strategic Mortgage offers on-site underwriting decisions for most loans, prepares their own closing documents to eliminate errors and provides CASH at closing for their own lines of credit.

I hope you have found this information about the new Columbus Ohio Physician Loan Program to be helpful. Once you are pre-approved for your mortgage, you’ll need a REALTOR to help you with the home buying process. As an experienced Columbus Ohio Realtor, I would love the opportunity to help you find your ideal home and negotiate the best price for you. If you’re interested in buying a home, condo or investment property anywhere in Columbus or Central Ohio, please CONTACT ME at 614-895-0496 anytime from 8am-10pm to get started. I look forward to helping you find your ideal home and obtain the best financing for your Columbus Ohio real estate needs.

Many home buyers I’ve worked with, when buying Columbus Ohio real estate, do so in part because of the mortgage interest tax deduction incentives for owning a home. Currently, you can deduct the the mortgage interest you pay each year on your income taxes.

Obama’s latest spending plan, as released on February 26, 2009, seeks to change the Mortgage Interest Deduction by reducing the amount of the home mortgage interest deduction for families earning over $250,000 in America. The National Association of Realtors® (NAR) believes this small section of the sweeping US Federal budget plan has the potential to become a major impediment to a recovery in real estate markets across America.

The NAR is 100% opposed to modifying the current home Mortgage Interest Deduction and is preparing to use its formidable array of resources against its enactment.

The The National Association of Realtors® is concerned this proposed change in the Mortgage Interest Deduction will result in further erosion of home prices and home values across the USA. If enacted, this proposal could lead to a new round of price depreciation and cause greater distress on bank balance sheets as the collateral value of mortgage backed securities declines. A second credit crisis could emerge before the first one is even resolved.

The NAR is launching a multiphase plan of action to eliminate this provision from Obama’s spending plan. NAR will be expressing concerns directly to President Obama, all members of the United States House of Representatives and the Senate, placing advertisements in the publications read by Washington, DC decision makers. Additionally, NAR will be forming a coalition with other groups affected by this proposal.

The housing market is struggling enough and I just cannot understand why any lawmaker feels this plan is a good idea, especially in light of the effect the housing market has had and continues to have on the economy. I’m sure many would agree there are plenty of other ways the government could cut spending instead of continually taking more money from Americans.

As NAR continues to update REALTORS® across the nation on the status of the home mortgage interest deduction, I’ll share updates here on my Columbus Ohio Real Estate website.

30 year Columbus Ohio Home Mortgage Loan Interest Rates Fall Below 5%

Are you debating whether now is a good time to buy Columbus Ohio real estate? Interest rates for a mortgage loan in Columbus Ohio have never been lower! I received a call from Sue Reichard, with Fifth Third Bank in Columbus Ohio, reporting that 30 year mortgage interest rates have fallen to 4.625%, with zero points. That’s amazing!

These historically low interest rates for a mortgage loan in Columbus Ohio and low real estate prices make this an ideal time to buy a home in Columbus Ohio. With the falling interest rates, the real estate market in Columbus Ohio is picking up already, because many people realize the huge window of opportunity that exists now.

How Do I Start The Process of Buying a Home in the Columbus Ohio Area?

To start the process of buying a home, condo or investment property in Columbus or Central Ohio, please CONTACT ME at 614-895-0496 anytime from 8am-10pm.

As an Accredited Buyer’s Agent Representative, I can help make your home search easier, while looking out for your best interests, AT NO COST TO YOU. I look forward to helping you find your ideal home and obtain the best financing for your Columbus Ohio real estate needs.

Great Time To Refinance Your Mortgage Loan Too!

Now is also a great time to think about refinancing, especially if you are one of the million of adjustable rate mortgage holders. There are millions of homeowners that have adjustable rate mortgages that will be adjusting this year or next. Rates have dropped below the 5% range so it is an excellent time to secure a fixed rate. A lot of people also refinance to consolidate debt and get cash out for college expenses or home improvements.

Should I wait to see if mortgage interest rates get lower?

Some people are still thinking, maybe I should wait to make a move or refinance, in case rates get even lower? Many economists don’t think rates will get much lower, but if they should, I have a coupon from Fifth Third Bank** enabling you to refinance for only $153.00*, if your rate should drop .5% or more within 36 months after your closing. (*application, processing & underwriting fees).

There are many rumors that banks are not lending money any more or that mortgages are too hard to qualify for. That is simply not true. Call for a no cost mortgage analysis!

Fifth Third Bank
Sue Reichard, Vice President
Regional Sales Manager
Residential Mortgage Lending
www.53.com/mlo/sue-reichard
Phone: 614-442-3156 Cell: 614-395-4150
UFax: 614-474-1440
we’ve got a mortgage for that!

**Fifth Third Bank - Columbus Ohio Mortgage Interest Rate coupon details: Subject to credit review and approval. Offer applies to applicable application, processing and underwriting fees only. All other applicable loan fees would apply. Offer not available on Equity Line, Equity Loan or Easy Equity products or construction or lot loans. Original coupon must be presented at time of application. Not valid with any other offer. Offer valid on initial loans closed between 12/01/08 and 3/31/09. Rates and program are subject to change. Mortgage products are offered through Fifth Third Mortgage Company. Member FDIC. Equal Housing Lender.

Petra Hinterschied, ABR
Accredited Buyer Agent Representative
Columbus Ohio Realtor with over $40 Million in Central Ohio Real Estate Sales since 2001.

If you’re considering buying a home in the Columbus Ohio area, you may want to consider obtaining an FHA mortgage loan. While most first time home buyers I’ve helped buy Columbus Ohio real estate do use an FHA loan, FHA is not only for first time home buyers.

One reason many first time home buyers obtain an FHA mortgage loan when buying a home in Columbus Ohio, is because many of the government grants and down payment assistance programs have been partnered with FHA loans.  Currently, most of the first time home buyer down payment assistance programs in the Columbus Ohio area are out of money.  Once I receive an update on any new funds for down payment assistance becoming available, I’ll be sure to post it here on my Columbus Ohio real estate blog.

HIGHER FHA MORTGAGE LOAN LIMITS FOR BUYING COLUMBUS OHIO REAL ESTATE

FHA has recently increased their loan limits, which makes their loans even more attractive to a wider variety of buyers. The new FHA loan limits to purchase real estate in the Columbus Ohio area are as follows:

SINGLE FAMILY HOMES = $310,500

BUYING INVESTMENT PROPERTIES WITH AN FHA LOAN:

Buying investment property in the Columbus Ohio area typically requires a minimum of 10-20% down payment. However, if you are an owner occupant (live in one unit and rent out the rest) then you can obtain an FHA mortgage for a 2-4 unit investment property in Central Ohio.

Interest rates are generally higher for investment property loans. Another huge benefit of buying investment property in the Columbus Ohio area, with an FHA loan, is you’ll get the typical market interest rate available to any other FHA buyer. This is truly a great deal! Here’s the new FHA mortgage loan limits for buying investment property in Columbus and Central Ohio.

2 UNITS = $397,500
3 UNITS = $480,450
4 UNITS = $597,100

FHA loans are attractive because they typically require a lower down payment than Conventional mortgage loans, plus credit and qualification standards are more flexible. Currently FHA requires 3.5% down payment, while most conventional loans require a minimum of 5% down. Due to the sub prime mortgage crises, many people who used to be able to get a loan can no longer qualify. FHA mortgage loans are now the best alternative for people who’s credit scores are not high enough to obtain a conventional mortgage.

If you’re interested in buying a home, condo or investment property anywhere in Columbus or Central Ohio, please CONTACT ME at 614-895-0496 anytime from 8am-10pm to get started.  I look forward to helping you find your ideal home and obtain the best financing for your needs.

As always I look forward to serving your Columbus Ohio real estate needs.

Petra Hinterschied, ABR
Accredited Buyer Agent Representative
Columbus Ohio Realtor with over $40 Million in Central Ohio Real Estate Sales since 2001.

Looking For A Great Deal on Worthington Ohio Real Estate?

SHORT SALE DEAL ON THIS 4 BEDROOM WORTHINGTON OHIO HOME FOR SALE ~ PRICE JUST REDUCED $20K TO $149,900. Great Value - Don’t miss out on this wonderful 4 bedroom home in Worthington Schools!  This home is currently the only 4 bedroom under $150,000 in Worthington Schools.  Now that we’ve reduced the price along with the exceptionally low interest rates - this home the best deal in Worthington Ohio!

Convenient location ~ close to the Polaris Mall, restaurants, Worthington Crosswoods or Rave movie theatres and more!

Since this Worthington home is a bank short sale, it is subject to bank approval and could take up 4-6 weeks for the bank to respond to any offers.  A short sale is a pre-foreclosure and allows you the buyer to get a great deal on home without the risk associated with buying a bank owned property.  Call Petra Hinterschied, Columbus Ohio Realtor® at 614-895-0496 for details.  Since this is a short sale, this home is being SOLD AS IS, however, buyer still has the right to have a home inspection.

This Worthington Ohio home features a spacious and open layout and is in move in condition ~ ready for your family to enjoy!  The spacious and open layout in this Worthington Home and the huge 18 X 20 family room make this home perfect for entertaining or large meetings.

The kitchen and dining area are open to the living room.  The kitchen has been updated with oak wood cabinetry, neutral laminate counter tops, wood laminate floors, ceramic tile back splash and is fully equipped with a dishwasher, self cleaning gas range and a frost free refrigerator.   Window above the sink adds natural light.

The master bedroom could easily accommodate a king size bed and also features a roomy walk in closet.

While this Worthington home could use some general cosmetics, there are many notable upgrades including: ceramic tile & wood laminate floors, granite counter in bath, wood spindled stairs, roomy closets with organizers and a newer roof.

This Worthington home also has a large backyard with some mature trees, complete with a pond and shed for storage.  What more could you ask for?

I’ll include a few pictures but to see more details and a virtual tour VISIT:   7623 Yosemite Drive, Worthington Ohio 43085.

To learn more about the Worthington area visit: Worthington Ohio Real Estate and Community Guide.

Another challenge for the Columbus Ohio real estate market - no more down payment assistance for first time home buyers.

Ohio First Time Home Buyer Down Payment Assistance programs - Temporarily Discontinued - Effective October 13, 2008
I received a memo regarding OHFA - Ohio Housing Finance Agency’s First Time Home Buyer Program which has been providing down payment assistance grants, enabling Ohio first time home buyers to buy a home with no money down in Central Ohio. It appears the financial crisis is now affecting Ohio’s ability to help first time home buyers make buying their first home more affordable. I have had many first time home buyers over the years utilize this program for their down payment and am sad to see this program being discontinued. It will certainly have an impact on the Columbus Ohio real estate market, with even less buyers qualified to buy homes now, especially homes under $150,000.

Here’s the core message from the memo: As the financial market continues to be volatile, the Ohio Housing Finance Agency is unable to meet the needs of first time home buyers because they don’t have the capital to continue providing down payment assistance grant money. The recent elimination of no money down gift loan programs probably increased the number of buyers that were seeking down payment assistance from OHFA, since that was the only other way to obtain down payment assistance money. The Ohio Housing Finance Agency (OHFA) Ohio first time home buyer program volume has been increasing at a rate they can no longer sustain so they have to discontinue providing down payment assistance grants for first time home buyers.

There are now very limited ways for Central Ohio home buyers to buy homes with no money down in the Columbus Ohio area. A few options still remain including: obtain a gift for your down payment from a family member, 100% VA loans for veterans and 100% mortgage loans for medical doctors.

Also HUD has a great program right now where you can buy a HUD home in Central Ohio, with only $100 down plus they’ll provide a $2500.00 repair credit that can be used toward closing costs or repairs. If you’re open to considering a HUD foreclosure home in Central Ohio, it’s a great deal to take advantage of, while it lasts.

GET FREE COLUMBUS AND CENTRAL OHIO REAL ESTATE AND HUD HOME LISTING UPDATES

If you’re interested in buying a home in Central Ohio, I can help make your home search easier by emailing new listing updates from the Columbus Ohio MLS. You’ll get all the details, photos, virtual tours and price change updates too. The Columbus Ohio MLS includes all real estate listings in Central Ohio, by any real estate agent/broker in Central Ohio plus HUD Repo, bank owned foreclosure properties, short sales and more. To get started complete my Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST.

Columbus and Central Ohio HUD home foreclosure update

The Columbus Ohio real estate market offers a wide variety of homes for sale, including HUD Repo and bank owned foreclosure properties. Since buying HUD Repo, bank short sale and bank foreclosure properties is so popular in the Columbus Ohio area, I thought I’d share this update on a great program to buy HUD homes in Columbus and Central Ohio for ONLY $100 DOWN. FHA has extended the $100 HUD Repo Program that allows borrowers to purchase HUD-owned properties.

The Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) are extending the Sales Incentive Program in Ohio, for OWNER OCCUPANTS only. This Ohio HUD program offers huge sales allowances for owner occupants:

• Buy HUD homes for ONLY $100 DOWN PAYMENT

• Buyers using FHA receive $2,500 at closing to use on repairs, closing costs or to lower their mortgage amount.
• Buyers can obtain up to 3% in seller paid closing cost assistance.

Many HUD homes in Columbus and Central Ohio that I’ve seen typically need work. So it’s important to note that in addition to requiring only a $100 down payment for HUD homes, borrowers may also obtain financing up to 110% of the loan amount to have extra money for repairs. Appraiser-required repairs up to $5,000, all closing costs and pre-paid expenses may be financed up to 110% of the lesser of the appraised value or purchase price.

ALL COLUMBUS AND CENTRAL OHIO HUD HOMES ARE LISTED ON THE COLUMBUS OHIO MLS

The Columbus Ohio MLS - Multiple Listing Service is a database of real estate listings in Columbus and Central Ohio used by all Columbus Ohio REALTORS, who are members of the Columbus Board of REALTORS, to post their real estate listings. Since HUD homes are listed by Columbus Ohio Realtors, you’ll find them listed on the Columbus Ohio MLS. In fact, Columbus and Central Ohio HUD homes are not available to bid on until they are posted on the Columbus Ohio MLS and you must go through a REALTOR to place your bid.

In addition, banks also list their foreclosure properties with Columbus Ohio Realtors. So you’ll find bank owned foreclosure properties listed on the Columbus Ohio MLS - Multiple Listing Service as well.

As a Columbus Ohio REALTOR, I have access to all HUD homes in Central Ohio.

As a full-time REMAX Columbus Ohio Realtor and Accredited Buyer Representative, I’d be happy to help you find your ideal home - whether it’s a HUD Repo, bank foreclosure, short sale or negotiate to get you a good deal on any home listed for sale in Central Ohio. Plus, I’ll look out for your best interests throughout the process, AT NO COST TO YOU. That’s right - it doesn’t cost anything to have a buyer’s agent working for you.

GET FREE COLUMBUS AND CENTRAL OHIO HUD HOME LISTING UPDATES

I can set up a search to email you with any new HUD Repo, bank owned foreclosure properties, short sales and more - the same day they come on the market. Just share information about what you are looking for by completing my Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST to get started.

You can also search the Columbus Ohio MLS for all Central Ohio Real Estate listings on the internet at www.columbuscastles.com/search-columbus-mls