Kris Cooper

What if you have a Buyer who asks the question, what recourse do I have if the condition of the property I just purchased is not what I thought it to be?

*An attorney always wants proof.
*Disclosures [forms] mean something if you can prove the issue.
*Someone can sell a home which is ready to collapse, but if they have no knowledge they have no liability.
*However, if they had knowledge and you can prove they had the knowledge, then they have liability. Knowledge can be proven through testimony or proof of work on the issue, like recent waterproofing or exterior drainage control measures.
*In this instance, the buyer can talk with neighbors, local waterproofing companies and/or inspectors.
*Who knows, the seller could be truthful. Funnier things have happened. Also, has the new owner done anything that could lead to the water issue, like change exterior water flow, or remove water protection items such as window well covers?
*Don't forget to check the sump.
*Proof is key in enforcing disclosure problems.

Nick
Nicholas D. Perrino
Attorney at Law
Prodigy Title Agency
8080 Beckett Center Dr. #318
West Chester, OH 45069
513 870-9070 PH

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The Home Finder Network is announcing our affiliation with Examiner.com as its exclusive Cincinnati Land Use real estate examiner. Our articles and perspectives will help enhance the knowledge of our local Real estate market to the public. The content will be informed subject matter on local neighborhoods, specific trends in real estate and detailed perspectives on current local conditions.

Offering "how to" and "review" articles on perspectives like Community amenities as well as the dynamics of Location, Location, Location series. Our analysis will be built with on hand expert knowledge as we construct and build our Case Studies for our clients. Every Case Study preformed will broken down into a format designed to inform buyers and sellers of the current market position inside their neighborhoods. Examples of our trial posting can be seen here: Community Review

We are very excited about aligning our knowledge with Examiner.com and sharing it with the public. For access to our landing page Click here, also you can subscribe to our works via email or RSS the feed from that page. We will also be updating our ActiveRain account in addition to our blog for those of you who subscribe to HomeFinderNetworBlog.com

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Using online marketing tools for your product or services surround you, even if you aren't aware of them. In our industry (Real Estate Marketing) we have studied the most effective online tools and re-sourcing for our product. Last year we received the CSM (Certified Social Media Marketer) designation and without doubt it gave us the arsenal and awareness to grow our business with internet marketing. Our business currently received 80% of its referral and lead database from out expansive internet marketing.

Understanding the volume of resources can be overwhelming, however understanding how to master the details of only a few tools is very obtainable. Todays series will focus on the only photo tool we use to share our marketing with clients. Picasa is googles online photos album and sharing resource. We use Picasa not as a home album host, but a business photo marketing host for clients and leads. Picasa has specific tools for marketing, google map tags to show where your services are, or in our case where our active properties are located. Links can be shared via twitter, facebook, and any other social media site. Specific notes about your products can be made in detail about the photo albums. For examples of how this tool works and looks, our albums can be viewed here: http://picasaweb.google.com/ktc629

Using this tool to the Max is simple. For your clients it's a great way to share photos of marketing that you have done with their friends and family. It is a very simple way to expose your product to the world. Most of all its a great way to express your business reputation. Picasa is a program that needs downloaded to your PC or laptop from www.picasa.com it will auto-capture photos from your photos albums. You will have ability to accept or reject photos added to your online album. Online sync can be preformed once the albums have been created also all details pertaining the specific album are all editable.

Easy, simple and effective: Picasa is powerful online photo album fully customizable and easy to use. Thinking out of the box at maximizing the usage of a photo album are endless.

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Ohio by County break down Map Ohio and U.S. Employment Situation (Seasonally Adjusted)

Ohio's unemployment rate was 10.3 percent in July, down slightly from 10.5 percent in June, according to data released this morning by the Ohio Department of Job and Family Services. Ohio's nonfarm wage and salary employment increased 1,800 over the month, from the revised 5,045,000 in June to 5,046,800 in July.

"The number of unemployed Ohioans declined in July, and the unemployment rate decreased to 10.3 percent," ODJFS Director Douglas Lumpkin said. "Job gains in the private sector were partially offset by continuing jobs losses among government workers."

The number of workers unemployed in Ohio in July was 614,000, down from 625,000 in June. The number of unemployed has decreased by 22,000 in the past 12 months from 636,000. The July unemployment rate for Ohio was down from 10.6 percent in July 2009.

The U.S. unemployment rate for July was 9.5 percent, unchanged from June.

Total Nonagricultural Wage and Salary Employment (Seasonally Adjusted)

Ohio's nonfarm wage and salary employment rose 1,800 over the month, from 5,045,000 in June to 5,046,800 in July, according to the latest business establishment survey conducted by ODJFS.

Employment in goods-producing industries, at 814,700, advanced 4,200. The workforce in construction increased 3,300. Manufacturing added 1,000 jobs as a gain in nondurable goods (+1,300) exceeded a decrease in durable goods (-300). Mining and logging slipped 100. Service-providing industries declined 2,400 to 4,232,100. The largest decrease occurred in government (-8,700). Employment was also down in trade, transportation, and utilities (-1,000), other services (-900), financial activities (-500), and information (-200). Professional and business services rose 5,200 over the month. Employment also increased in educational and health services (+2,600) and leisure and hospitality (+1,100).

Over the past 12 months, nonfarm payroll employment rose 5,800. Goods-producing industries were 10,500 higher. Gains in durable goods (+13,000) and nondurable goods (+1,500) boosted manufacturing employment 14,500. Construction was 3,800 lower, while mining and logging lost 200 jobs. Service-providing industries dropped 4,700 over the year. The largest decreases were posted in trade, transportation, and utilities (-12,700) and financial activities (-12,000). Declines also occurred in information (-4,500), other services (-4,100), and government (-1,900). Employment increased over the year in professional and business services (+20,900), leisure and hospitality (+5,800), and educational and health services (+3,800).

EDITOR'S NOTE: All data cited are produced in cooperation with the U. S. Department of Labor. Data sources include Current Population Survey (U.S. data); Current Employment Statistics Program (nonagricultural wage and salary employment data); and Local Area Unemployment Statistics Program (Ohio unemployment rates). More complete listings of the data appear in the monthly Ohio Labor Market Review. Unemployment rates for all Ohio counties as well as cities with populations of 50,000 or more are presented in the monthly ODJFS Civilian Labor Force Estimates publication. Updated statewide historical data may be obtained by contacting the Bureau of Labor Market Information at (614) 752-9494 begin_of_the_skype_highlighting (614) 752-9494 end_of_the_skype_highlighting begin_of_the_skype_highlighting (614) 752-9494 end_of_the_skype_highlighting. Ohioans can access tens of thousands of job openings, for positions ranging from file clerks to CEOs, at www.ohiomeansjobs.com.

News release dates

A calendar of 2010 release dates is available online at http://OhioLMI.com/laus/releases.htm County, city and metropolitan area unemployment rates for July 2010 will be posted online at http://OhioLMI.com/laus/current.htm on Tuesday, August 24, 2010. August 2010 unemployment rates and nonagricultural wage and salary data for Ohio will be released by ODJFS on Friday, September 17, 2010. This information and the monthly statistical summaries it is based on are also available at http://jfs.ohio.gov/releases.

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The new FHA MORTGAGE INSURANCE PREMIUMS go into effect for CASE NUMBERS assigned on or after 10/4/10

NOW is the time to contact your potential FHA buyers & clients (especially those possible FHA streamline refinances) and get word out. If they want a choice of options, they need to get a purchase contract and/or a loan application in NOW. The new MIP has merits in that it will be a lesser loan amount financed and therefore less loan to pay off when people sell their house. However, it causes a HIGHER PITI payment that may not be appealing to people.

Current upfront mortgage insurance premium - 2.25 bps ~ On or after 10/4/2010 - 1.00 bps ~ LOWER!

Current monthly MIP - .55 bps ~ On or after 10/4/10 - .90 on LTV's > 95% ~ HIGHER!

Take a look at the attached analysis here: FHA_Premium_Changes_Analysis[1] to see the significant difference this change will make on a $150,000 purchase price. You will notice the lower UMIP will mean an $1800 lower loan amount. But, the much higher monthly MIP would increase the monthly payment $32! This is going to have an impact on borrowers and their financing options. Call or email me with questions! We are closing FHA loans in 30 days!

Courtesy of Kathy Lamb, Union Saving Bank

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