Interest Rates Are Rising.....

Think worldwide economics don't effect us locally? Those days are gone. Unfortunately... Due to international pressure on Treasury Bill and Bond pricing, the Fed is pulling out of the mortgage interest rate stabilization game April 1st. April Fool's Day. How appropriate. Rates will raise 1/2 - 1% very quickly. Probably more over the next few months after that. Then does the Fed get back in the game when home sales tank? Enquiring minds want to know. The only certainty is that these rates are not going to stay this low. Inflation around the corner? Not until unemployment gets back under control because the demand will not be there to drive up prices at any point in the supply chain. The only wild card is foreign oil pricing. About time for them to cut supply to drive up prices. California is considering relaxing its very stringent environmental controls which are driving business away. Watch this trend escalate. Think the Chinese are going to drive up their prices by putting very modest pollution controls in place? Probably not in our lifetime. We can't compete with those without regulation, reasonable wages, employee benefits, etc.

Gahanna Lincoln High School Fundraiser Raffle New Home Groundbreaking

Tomorrow at 1:30pm, channel 6 & 28 anchor, Yolanda Harris will help break ground on the new Dunmoor Home that is being raffled off!!!! This is an excellent example of a School working with a local business to find a solution. Rather than ask the taxpayers for money, Gahanna has partnered with Dunmoor Homes to raise money for Athletics, Student Council and Renaissance Program. Please visit the website for details and how to buy a ticket. www.lionsdunmoor.org

Tax Credit Extension - It finally looks POSITIVE!!

i never thought this would go thru!! but Uncle Sam seems determined to keep the money printing presses running. those of you who love economics are certainly watching the Money Supply - which is increasing at an alarming rate. Good for the real estate industry in the Short Term - absolutely!! Good for the economy in the Long Term - ?????? Our kids will be the judges....

Green and energy savings

i was having a talk with a few realtors the other day and they were "shocked" to learn that "green" will add around $12,000 of cost to a $160,000 home. it's like everything now with our new Socialist mentality - i should get it free - right?? Builders are working off razor thin margins and there is no way they can "eat" this cost. Is the Buyer willing to pay this extra $12,000? Very rarely and if they are - will the Appraiser return the higher value? Not with the pressure they are under. So what is the answer? There isn't one. Alot of the municipalities are trying to force Builders to incorporate "green" elements and all this does is ensure that Builders cannot compete with the inventory of existing homes.

Columbus Values and Buckeye Football

Sunday will be very, very busy for Columbus real estate professionals. It is a well known fact that consumer confidence is on the rebound. With victory virtually assured for the Buckeyes Saturday night, the faithful will be even MORE optimistic and will want to upgrade their living conditions to accomodate all the Buckeye shirts, posters, pictures and memorabilia they will be buying to remember the Day the Trojans Came To Town!!!!!! Have Buckeye flags waving in front of your listings and models. Premiums will be paid of 10 - 20% for these homes and the appraisers will have no problem getting value!!!

Columbus great for Relocation

Columbus is hip!!! Not a cow town. Opportunities galore!!! Great place to relocate. Arts, civic pride, affordable, charitable. We always knew it was a great place to raise a family and follow a college football team. Mount Union is a perennial Division III power and has won TEN national championship (in a real playoff system) in the last 17 years. http://www.relocation.com/blog/relocationcoms-top-cities-for-a-fresh-start

Gahanna Athletics Fundraiser

Gahanna Athletics, Renaissance and Student Council have teamed up with Dunmoor Homes, HER Real Living and Benchmark Bank to raffle off a NEW DUNMOOR HOME in Stonehill valued at over $175,000!!! Our goal is to raise over $200,000 and raise awareness that Gahanna Athletics is over 98% self-funded. Dunmoor Homes is looking for a New Home Sales Professional to join our Stonehill team. They will work about 66% of the model hours so every weekend will not be taken. They plan to drive 700 traffic units to the subdivision in the next 7 months due to the fundraiser and other marketing.

HUD Already Changed It's Mind....

You CANNOT use the $8,000 for the minimum 3.5% downpayment. You can use it for closing costs, interest rate buydowns or additional downpayment. How are Lenders, Realtors and Builders supposed to understand when the rules change almost daily???

You CAN Use the Tax Credit for Downpayment!!!

It's finally official. Better late then never!!!! HUD says the $8,000 tax credit can now be used for downpayment. This makes homeownership available for many who did not have downpayment funds.

Good News!!! Recession Coming to an End??

THREE OF FOUR ECONOMISTS surveyed predict the Recession will be over by the third quarter of 2009!!!! Time for us all to get ready for 2010 when the recovery will truly start!!! It will be nice to see price appreciation in real estate again and people willing to pay premiums for better and/or new homes.

Info on the Central Ohio Communities

Everything you wanted to compare Central Ohio's schools and communities in one place. It will always be subjective on what is best for each homeowner!!! That's what makes it fun!!

Job Growth

Tired of negative press? We stopped reading the newpapers and turned off the TV. Except for 30 Rock, The Office and the playoffs. NHL playoff hockey is incredible!!! The good news always seems to get buried in the media. Chase Bank is creating over 1,000 jobs in Central Ohio!!!!! This bank didn't really get involved in the sub-prime mess and is STRONG!!! We are glad they maintained their substantial presence locally.

New Home Prices to Increase from Lumber Tariff

OUCH!!!! Uncle Sam's tariff on softwoods from Canada will increase the price of a home by 5 - 10%!!! Lumber prices have been very low due to demand and price stabilization but now are going to be hit hard. Builders are already looking at razor thin margins and will need to pass this increase along to Buyers. Buy NOW before this and other price increases go into effect.

Tax Refunds Green For Green Energy

Not willing to leave any stone unturned, Uncle Sam is also offering a HUGE incentive for installing "green energy" components. Obviously, this is alot easier to do on a New Home. New Home buyers can recieve a 30% tax credit by installing:

• Solar energy systems (including solar water heating and solar electric systems)
• Small wind systems
• Geothermal heat pumps
• Residential fuel cell and microturbine systems

Use a Realtor???

Many buyers honestly believe they can find everything they need on the Internet and learn everything they need to buy a home. This is one of the BIGGEST FINANCIAL decisions a consumer will make. There are so many intangibles in buying a home and real estate in general. Why wouldn't you have a Professional help you? Would you perform surgery on yourself if you could? Of course not. Find a realtor who you like and understands what you want.