B. Shannon Pyatt

Is Columbus Ohio still a good place to purchase a home? Absolutely! Here are six reasons why now is the time to jump into the market.

1. Uncle Sam is now involved. First-time buyers (defined as anyone who hasn't owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available.

2. You gotta live somewhere, so why pay rent? About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn't soar. Don't throw your money away like this anymore.

3. Buyer's, do the math. Say you $10,000 into the stock market and it earns 10 percent, you've earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you've made $10,000.

4. Be patient and you will make money through equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.

5. Get a fixed rate and your costs will remain the same. If you get a fixed-rate mortgage, the monthly payment stays the same - while everything else, including rent, goes upward.

6. It's all yours, no one can tell you what you can and can't do. You can paint it any color you want, let the dog run in the back yard and hang a swing for the kids in the front.

These are all great indicators that now is a great time to buy a home in the Columbus Ohio area!

The Ohio Housing Finance Agency (OHFA) will be making $12.5 million in Mortgage Credit Certificates
available to approximately the first 1,000 qualified homebuyers statewide.

*Must be a first-time buyer
*Loan must have closed on or after March 23
*Can be used with the $8,000 first-time homebuyer tax credit
*Can be taken every year for the life of the loan

An MCC creates an income tax deduction that reduces a household's federal income tax liability
and allows the household to have more available income to make mortgage payments.
Homebuyers who qualify receive a Mortgage Credit Certificate from OHFA, which
can be used to reduce their household's tax burden every year for the life of their loan.
With an MCC, a percentageof what you pay in mortgage interest (20, 25, or 30 percent)
becomesa tax credit that you can deduct dollar-for-dollar from your income tax liability.
The remaining 80, 75, or 70 percent of mortgage interest continues to qualify as an
itemized tax deduction, as long as you have sufficient tax liability.

If you have been considering placing your home on the market, now is the best time of the year to do so. Even though the market may not be "hot", if you can afford to price your home correctly, even in this "soft" market you can get it sold and quickly. According to the Ohio Realtors Association, there are four key factors to consider before deciding to put your home on the market.

1. A stylish kitchen appeals to many buyers. If a seller has upgraded cabinets and granite countertops, that's good. If they don't, it may help to display some stylish touches like an espresso machine, a retro toaster or just some luscious fruit.
2. Lots of light makes spaces feel larger. Turn on all the lights even during the day and add a few extra lights if necessary.
3. The master bedroom should seduce a buyer. Play soft jazz, pile the bed high with a cushy comforter and pillows. Stack plush towels in the bathroom.
4. Add drama to a bottleneck or a dead end space. Prop an oversize mirror against the wall. It visually opens a space and adds drama.

If you would like to find out even more ways to get your home ready for sale in today's market, please visit our home seller page to see what we can do for you.

According to the American Bankruptcy Research Center, just under 100,000 people filed for a bankruptcy in February 2009. This is proof that the economy is certainly in a slump, however here in Columbus Ohio, we are reporting good news on the housing front. Unlike the rest of the country, Columbus housing is really holding its own. Although January was a slower month at 988 sold homes and condos according to the Columbus Board Of Realtors, February boasted just over 1,000 homes sold in the Central Ohio area. We believe especially here in Columbus, that with the $8,000 tax credit and the OHFA (Ohio Housing Finance Agency) support of the downpayment assistance program, that March will be even a stronger month to boost home buyer confidence here in our area.

It is true that the government has really been stepping in and helping to revive the economy with their 2009 stimulus package and boosting buyer confidence in home buying as well with the $8,000 tax credit for first time buyers. What they are not telling you is; who are the ones that are eligible for this program. There are a lot of great things about this bill, but there is some fine print to read as well. Did you know that the home must be at least $80,000 for the purchase price? Did you know that if you have had any interest in a property in the last 3 years, you are not eliglble for the credit? Get all the tax credit facts before you buy.