Here are some great pointers what a home buyer needs to know when buying a home and why. Also, included in this article is why a seller should sell their home, along with the type of incentives a seller can offer to buyers and various other pointers to consider when selling your home.
http://www.ohiorealtors.org/consumers/BuyingSelling.aspx
Please contact PDS Real Estate if you have any questions about the real estate market.
Susan Buhr
PDS Real Estate
614-527-7724
Are you looking to buy a home, without having to give your name, phone and email address? Or do you want to find out what your neighbor is selling their home for? Look no further, PDS Real Estate website will allow you to conduct a search without filling out a form. http://www.pds-realestate.com/
Susan Buhr, Broker
PDS Real Estate
Fed to Slash Rates Again, Then What?
The Federal Reserve has cut the federal-funds rate to 2.25 percent from 5.25 percent, amounting to seven reductions over a span of eight months, and experts anticipate another 0.25 percentage point cut at its April 29-30 meeting.
However, experts think the central bank could take a breather after the next rate cut to give officials time to assess the impact of rate reductions, upcoming tax rebates, and other measures on the economy during the latter half of the year.
Moreover, there are concerns that further reducing the federal funds rate could increase inflationary pressure and weaken the dollar even more. Despite rising food and oil prices, officials point to some improvements in the financial markets, with the 30-year mortgage rate on the decline; but they note that stricter lending standards could worsen the downturn.
The statement issued by the Federal Reserve after its meeting likely will point to ongoing concerns about economic growth and inflation and state that additional rate cuts will be made as necessary.
Source: The Wall Street Journal, Greg Ip and Kevin Kingsbury (04/24/08)
© Copyright 2008 Information Inc.
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Susan Buhr
PDS Real Estate
Visit PDS Real Estate website to conduct your own home search.
www.pds-realestate.com
Breaking news- an agreement with six lenders and State of Ohio which will give relief to homeowners who are facing foreclosure. The agreement is to stop the foreclosure process and renegotiate better loan terms. But this agreement only applies to the six lenders who have signed the agreement. I think for this program to be very successful I would like to see the bigger banks such as, Wells Fargo, Countrywide, Fifth Third, National City, Huntington, etc. sign up with the State of Ohio for this relief program. I also, fully understand that this agreement is a big paper burden and expensive for the lenders to pursue and implement, but on the other hand the foreclosure process is a big paper burden and expensive for lenders to pursue and implement too. Read the article below ...
Ohio Gov. Ted Strickland today (Monday, April 7) announced that nine mortgage loan servicers agreed to sign a "Compact to Help Ohioans Preserve Homeownership," the first agreement of its kind in the nation.
Executives from six mortgage loan servicers signed a document pledging that they will work with the state in making every possible attempt to prevent default loans and foreclosures in Ohio. Executives from three other companies mailed signed copies.
"Home ownership is the very foundation of the American dream," Strickland said. "I am very encouraged that these loan servicers have stepped forward and pledged to follow the common sense principles we outlined in our compact. These steps will reduce foreclosures in Ohio and bring stability to the families and communities affected by this crisis.
"At the same time I would urge all Ohioans facing possible foreclosure to contact your loan servicer immediately to discuss your financial situation or call the State of Ohio's Save the Dream Hotline. It's a call that can help save your home," Strickland said.
The loan servicers that signed a compact are:
Carrington Mortgage Services; Citi; GMAC RESCAP/Homecomings Financial; HSBC Finance Corp. ; Ocwen Financial Corp. ; Option One Mortgage; Saxon Mortgage Services; Select Portfolio Servicing; and Litton Loan Servicing
The six principles agreed to by the loan servicers include a willingness to:
The agreements follow the governor's proposed "Compact to Help Ohioans Preserve Homeownership" announced in October 2007. At that time, the governor asked the servicers to review the proposed compact and submit any comments.
In November 2007, after the response to his proposal primarily came from their trade association and not from the individual servicers, the governor announced that the response was inadequate and that nothing meaningful had been offered. He said he was open to talk with the individual servicers.
Kimberly Zurz, director of the Ohio Department of Commerce and chair of the governor's Foreclosure Prevention Task Force, met with many servicers and their trade associations. At that meeting, the representatives discussed the proposed compact and agreed on the six principles, which substantively matched the spirit of the original compact.
After extensive negotiations in recent months, the servicers expanded upon the six principles, which led to today's agreement.
"We are pleased that these servicers have joined in signing a compact," Director Zurz said. "I hope that even more servicers will join their colleagues and the State of Ohio in this good faith effort to help Ohioans stay in their homes."
Ohio's Save the Dream hotline number is 1-888-404-4674 or visit http://savethedream.ohio.gov/.
Susan Buhr
PDS Real Estate
Visit PDS Real Estate website to conduct your own home search.
Yesterday, the FHA increased its amount it will lend to $341,250 in Franklin County Ohio. This is great news for both home sellers and home buyers, so just maybe we'll see buyers firm up and buy and seller will sell theirs homes!! It's a great time to buy your dream home! If you don't know what an FHA mortgage is or need to brush up on your knowledge open-up this link, it will provide you with all the latest information concerning FHA loans and requirements.
http://www.fhainfo.com/frameloanlimits.htm
Susan Buhr, Broker
Conduct your own home search without filling out a form on http://www.pds-realestate.com/
As the Broker for PDS, Susan provides a high professional service level for both Sellers and Buyers. Active member of the Columbus Board of Realtors and Independent Broker Association.
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