B. Shannon Pyatt

So you have been looking online for homes, going to open houses each weekend and finally the thought enters your mind that you just aren't going to find what you are looking for, unless you build it from the ground up with everything that you want. Before you jump in the car and head down to the local new builders office and sign the paperwork, do yourself a big favor, get a Realtor to represent you! This is more than a good idea, its an absolute necessisty. You need someone who understands how the process works, someone to teach you all the little catches that builders can throw into your contract and most importantly someone who will stand up for your best interests. What most people do not understand in this process is that the builder rep, works for the builder (their boss, their company) and could really care a less about you as a client. A Realtor on the other hand, is hired specifically by you to respresent your best interest only. They will ensure that the builder, the builders lender nor the title company (all linked to the builder) are being honest and not trying to put you into a situation that is not in your best interests. You may or may not know, that almost every new build company out there is tied to their own lender and their own title company, therefore NO ONE is looking out for what is best for you, unless you have hired an agent to do so. Below you will find a real life example of things that have happened recently to a client here in the Columbus Ohio area who purchased a new build (we'll call him Bob), make sure it doesn't happen to you to, hire yourself a real estate agent and get that piece of mind, not to mention it doesn't cost you anything to be represented, all commissions are paid for by the seller.

1. Bob went into contract on a new home and had an appraisal done on it only to find that the home was not worth what the builder was trying to charge him. The builder expected the client to pay the additional money by the way of cash to make up the difference. When Bob explained he did not have the money to do so, the builder tried to raise his interest rate so that they (the builder) could re-coop the money they lost.

2. Bob also discovered that the builder was not going to pay the closing costs associated with the loan (typically in a buyers market, the seller or builder will pay this fee). The builder said that they were not going to allow this and therefore would let a perfectly good buyer walk away over a mere $2,000.00

3. Bob was also told by the sellers title company that he was to receive a certain amount of money back at the closing, which was an incorrect number. The title company did not wait for acceptance of the HUD 1 settlement statement from both the lender and the Realtor before disclosing this incorrect information to the buyer, potentially costing Bob lots of money.

Luckily, Bob was represented by a Realtor and the builder did not get away with any of this. However, had Bob not been properly represented, he would have seriously been taken advantage of. New builds can be great for buyers and you can get a fantastic home for the money, however make sure you have someone to fight for you in your corner first.

Remember, Always consult a Realtor for any home purchase, you owe it to yourself!

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.