Time to Sell, Buy or Stay Put? Marysville Ohio Real Estate

Submitted by Vicki Owens, ABR, CRS, GRI, SFR, Best Homes Real Estate, Marysville, Ohio

Whether it's email, texts or phone calls, I get so much communication from clients, their friends and community residents alike who are seeking to know exactly what they can expect from the market. "Where are things really? I know that you shoot from the hip and will tell me the real story on what you are seeing out there in the trenches".

For Buyers: What a load of opportunity for first time buyers and those who have their home sold or have been paying out to that landlord for awhile and have maintained great credit. Your rewards are coming! The banks are FINALLY releasing many of the foreclosed properties that they have sat on for months or even years here! There are a lot of homes that need some TLC and ready for the right buyer. The USDA funds are back in Union County, which means you can get a home in great condition for $0 down and NO PMI in the payment! Move in ready motivated seller homes are out there and plentiful as well. If you want to buy a fixer upper, you might look in to Fifth Third Bank's 203K Streamline program. This one will allow a considerable amount of fix up money and do this all with one easy step with an estimate from Home Depot. The rates are still even below 6% on these types of programs that can cover appliances, flooring, and really turn a fixer upper into a move in ready place. Buyers, the early spring market is ripe and ready for you to get out there and start finding that home that you have been waiting for!! Sure enough wait till late spring and you will see some "not as motivated" sellers with pricing that may be a bit higher than those who have worked hard waiting for you this cold, long winter! We have seen MANY price reductions and a short sale that is in good condition could be well worth your wait for approval and get a lot of home for your dollar.

For Sellers: There is no doubt about it that if you need to sell you are going to be competing with A LOT of foreclosures and short sales this year. Your advantage is that if you have the ability to price your home competitively and are really motivated by that lifestyle change, you may be able to get into that next home for far less than you expected. So many people who have to make a move are considering renting the property. If you can find a great renter who will care for your place like it is their own and are underwater in the mortgage, it may be a good option. The key is to search your soul about being an "accidental landlord". Maintaining that property for tenants and making sure that you get a deposit that would be enough to replace things like carpet and re-paint are just 2 things to consider. If you do not have equity in the home and can wait a year or two, that may be an option.

For years now with the declining prices we have seen MANY sellers bringing cash to closing. When you look at your price, you will want to be sure that fees and all liens can be covered for your selling price. A good agent can give you a pretty solid estimate on what that would be so there are no surprises in the end. Nothing is more disheartening for sellers and buyers as not being able to close after all the steps of a transaction, or worse, legal trouble over it. For success, you must PREPARE, PREPARE, PREPARE. Financially & condition.

To compete, you want the buyers, who have SO many choices, to pick YOURS!! Check out the prices that new homes are selling for today, and look at what has actually SOLD in the last 30-60 days. Take a look at your home from "the buyer's eyes" and make it a place that you would buy all over again. Is it a lot of work? YES So only you can decide if you are up for the challenge of getting in the race. If you are relocating, find out what that new employer might do to assist you in the sale. Some programs may even cover some of the expenses you had in making improvements to the home over the years.

Whether you are buying or selling in 2011, your commitment truly needs to be your lifestyle/location choice as it is likely sacrifices will be made. Only you can decide if the time is right and you are ready to roll up your sleeves for the work, whether it is the load of paperwork the bank will ask of buyers, or the whipping the home into shape and finance issues faced by sellers. One thing is still for sure, the American Dream is alive and kicking regardless of all of the static in the news media. Home IS where the heart is and most folks really want a place of their own to settle in to.

Vicki Owens, ABR, CRS, GRI, SFR, with Best Homes Real Estate has been serving Marysville in Central Ohio since 2003 selling over 17 million in residential real estate. Visit her website at www.movetomarysville.com. Vicki offers free services to home buyers showing any home available, staging services & professional consultation to home sellers and FREE use of her moving truck for all clients within Ohio. Full service and reliable resources for clients. Call or text to 614-440-5174 or direct call to 937-644-3385. Email: movetomarysville@gmail.com