Akron, OH

Want to Buy a Real Estate Short Sale?

11-10-09

linda hale: Real Estate Agent in West Akron, OH

view my blog
Office: (330) 835-4598

Want to Buy a Real Estate Short Sale?

When lenders agree to do a Short Sale in Real Estate, it means the lender is accepting less than the total amount due on a mortgage or note.

This can be great for a buyer looking for a deal but comes with its share of problems as well.

First of all, not all lenders agree to accept Short Sales and not all buyers will qualify. (Your pre-approval letter will go a long way here.)
Just because it's a short sale does not necessarily mean it's a good deal. You still have to do your "due diligence." Check comparable sales in your market. Don't' go by list prices. You need to see what similar homes have sold for in the neighborhood.
It is important in any real estate transaction to have proper representation. Remember, the listing agent represents the seller. Real estate commissions are generally paid by the seller so why not have a professional on your side - especially on a Short Sale.
Make sure you make your offer contingent on the Short Sale being approved by the lender within a reasonable time frame. --You don't want to wait around for weeks to find out that the lender won't approve your offer --but you don't want your offer to "die on the table" before the lender has had a chance to read it either.
There is a good chance there will be more than 1 offer presented to the lender so make sure you do your homework and send a qualified offer. Low ball offers may sound great, but a well thought out offer will have a better chance of being accepted.
ALWAYS perform a professional home inspection. Even though the Short Sale lender will probably require an "as is" sale - you still need to know what repairs will be required and how much more it will cost to maintain the home. It may save you $1000's in the long run.

Just a note: I am a REALTOR®, not an attorney, cpa or financial specialist. Writing or accepting an offer on a home is a potentially binding contract and buying a short sale takes extra care and diligence. When in doubt ALWAYS consult the appropriate professional.

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Akron Ohio and Summit County Ohio Events Calendar

11-10-09

Akron Ohio Homes for Sale David M. Childress

view my blog
Office: (877) 896-5225

Mobile: (330) 620-8460
Secondary: (330) 620-8460

World War 1 ended at the 11^th hour on the 11^th Day of the 11^thmonth in 1918. Germany signed an armistice agreement with the Allies in a railroad car just outside Compiegne, France on November 11, 1918. Check out the listing of community events, click on the link for additional information about the event.

Thank you Veterans for your service to our great country!

God Bless America!


Arts / Theatre / Music
11/9/2009	Monday Morning Painting Group	Fine Art Services/Peninsula Art Academy
11/9/2009	UA Symphony Orchestra	School of Music
11/10/2009	Philip-Lorca diCorcia Lecture	Akron Art Museum
11/10/2009	Cuyahoga Photographic Society	Cuyahoga Valley National Park
11/10/2009	Enameling with Carol Adams	Fine Art Services/Peninsula Art Academy
11/10/2009	Blues and Rock School!	Fine Art Services/Peninsula Art Academy
11/10/2009	Composers Forum	School of Music
11/10/2009	The Bedtime Snack (featured event)	Mountain Rose Concerts
11/11/2009	Dear Gabby	Akron Public Schools - Firestone High School
11/12/2009	Dear Gabby	Akron Public Schools - Firestone High School
11/12/2009	Thursday Movies @ Main	Akron-Summit County Public Library
11/12/2009	Weaving Without a Loom w/Adams	Fine Art Services/Peninsula Art Academy
11/12/2009	Cuyahoga Valley Contra Dance	Cuyahoga Valley National Park
11/12/2009	Global Lens Film Series	Akron Art Museum
11/12/2009	The Life of Young Abe Lincoln	Stow-Munroe Falls Public Library
11/12/2009	Blues @ the Library	Twinsburg Public Library
11/12/2009	The Goat or, Who is Sylvia?	Weathervane Playhouse
11/12/2009	For Better - a wireless comedy	Actors' Summit
11/12/2009	Rachel Roberts	Akron Civic Theatre
11/13/2009	"Whomp the House" Tour	Akron-Summit County Public Library
11/13/2009	The Goat or, Who is Sylvia?	Weathervane Playhouse
11/13/2009	For Better - a wireless comedy	Actors' Summit
11/14/2009	T	Weathervane Playhouse
11/14/2009	Verdi e Puccini	Akron Symphony
11/14/2009	For Better - a wireless comedy	Actors' Summit
11/14/2009	The Goat or, Who is Sylvia?	Weathervane Playhouse
11/15/2009	Global Lens Film Series	Akron Art Museum
11/15/2009	Rock Star Band	Cuyahoga Falls Library
11/15/2009	For Better - a wireless comedy	Actors' Summit
11/15/2009	Just Plain Folk Show (featured event)	Mountain Rose Concerts
11/15/2009	Global Lens Film Series	Akron Art Museum
11/15/2009	FolkNite at PAA	Fine Art Services/Peninsula Art Academy
11/17/2009	Enameling with Carol Adams	Fine Art Services/Peninsula Art Academy
11/17/2009	Rob Zombie	Akron Civic Theatre
11/17/2009	Spinning w/Cris Welch	Fine Art Services/Peninsula Art Academy
Business Events
11/9/2009	Monday Networking Group	Green Chamber of Commerce
11/10/2009	YPN Speaker Series	Greater Akron Chamber
11/12/2009	Economic Outlook 2010	Greater Akron Chamber
11/13/2009	Friday Networking Group	Green Chamber of Commerce
11/16/2009	Monday Networking Group	Green Chamber of Commerce
11/17/2009	Joe Gingo Gives Keynote	Sales & Marketing Executives Int'l (SMEI Akron)
Children Activities
11/12/2009	Magic Lunchbox Story Time	Firestone Park Branch Library
Education
11/9/2009	Introduction to Word 2003	Twinsburg Public Library
11/10/2009	Excel 07-Vlookups, Pivot Table	University of Akron
11/10/2009	Introduction to the Internet	Twinsburg Public Library
11/10/2009	Caring Hearts Support Group	Summa Barberton Hospital
11/10/2009	Diabetes CARE Lecture Series	Summa Barberton Hospital
11/11/2009	Home Inspection Startup	University of Akron
11/11/2009	Waldorf School Tour	Spring Garden Waldorf School
11/12/2009	Social Networking Part 1	Twinsburg Public Library
11/12/2009	Introduction to Word 2007	Twinsburg Public Library
11/12/2009	Miller South Open House	Akron Public Schools - Miller South School for the Visual and Performing Arts
11/13/2009	Learning About Coyotes	Cuyahoga Valley National Park
11/14/2009	Enrichment Day	Akron Zoo
11/14/2009	Underground Railroad	Cuyahoga Valley National Park
11/14/2009	Journey to Jupiter	Cuyahoga Valley National Park
11/16/2009	Conflict Management Workshop	University of Akron
11/16/2009	Intermediate Word 2003	Twinsburg Public Library
11/16/2009	InDesign - CS4 Advanced	University of Akron
11/16/2009	Test Prep: Teen Career Aid	Firestone Park Branch Library
11/16/2009	NASA Image Unveiling	Barberton Public Library
11/17/2009	Social Networking Part 2	Twinsburg Public Library
11/17/2009	Intermediate Word 2003	Twinsburg Public Library
11/17/2009	Healthy Heart Lecture Series	Summa Barberton Hospital
Festival
11/14/2009	Park Place Pop-ins	Cuyahoga Valley National Park
Fundraiser / Benefit
11/9/2009	PTP Wine Tasting	Progress Through Preservation
11/9/2009	Folk n Comedy Benefit	Summit County Songwriters Circle
11/14/2009	Holiday Craft Bazaar	Bailey Road Christian Church
11/14/2009	Rummage Sale	Humane Society of Greater Akron
11/14/2009	Poker/Euchre Tournaments (featured event)	Cystic Fibrosis Foundation
11/14/2009	St Martha Silent/Live Auction	Saint Martha Parish
11/14/2009	Rollergirls "Flair Affair!" (featured event)	Rubber City Rollergirls
11/17/2009	Relay For Life of Twins-Maced	American Cancer Society
Health
11/9/2009	Yoga with Thia	Twinsburg Public Library
11/10/2009	FREE Hearing Screening	South Pointe Hospital, a Cleveland Clinic hospital
11/10/2009	Caring Hearts Support Group	Summa Barberton Hospital
11/10/2009	Reverse Heart Disease	Stow-Munroe Falls Public Library
11/10/2009	Diabetes CARE Lecture Series	Summa Barberton Hospital
11/11/2009	Coping with the Holidays	Hospice & Palliative Care of VNS, Center for Loss and Hope
11/12/2009	Author: Save $ on Healthcare	Barberton Public Library
11/13/2009	Kids and Holiday Grief	Hospice & Palliative Care of VNS, Center for Loss and Hope
11/14/2009	Heartsavers CPR Course	South Pointe Hospital, a Cleveland Clinic hospital
11/17/2009	Memory Screening Day	Akron General & Hospice of VNS
11/17/2009	Healthy Heart Lecture Series	Summa Barberton Hospital
Lecture / Workshop
11/9/2009	Basic QuickBooks Lessons 1 & 2	Small Business Development Center at the Summit Medina Business Alliance
11/10/2009	Human Trafficking Workshop	Battered Women's Shelter/Rape Crisis Center
11/11/2009	Physician Lecture Series	Stewart's Caring Place
11/12/2009	Tea Leaves/Coffee Grounds	Theosophical Society in Akron
11/14/2009	Computer Class: InternetSafety	Barberton Public Library
11/16/2009	Basic QuickBooks Lessons 3 & 4	Small Business Development Center at the Summit Medina Business Alliance
Literary
11/12/2009	Adult Book Discussion	Firestone Park Branch Library
11/16/2009	Teen Book Club	Twinsburg Public Library
Membership Meetings
11/17/2009	SMFCC Membership Luncheon	Stow-Munroe Falls Chamber of Commerce
Religious
11/13/2009	Cross Talk - Champion Series	The Chapel
11/14/2009	Strength For Our Journey	The Chapel
11/15/2009	Pre-Cana Days	Loyola of the Lakes Jesuit Retreat House
Special Events / Holiday
11/10/2009	Veterans Celebration	Hospice & Palliative Care of Visiting Nurse Service
11/12/2009	Family Fun Fest	Akron Public Schools - Perkins Middle School
11/13/2009	Holiday Open House	Hatties Cafe and Gifts
11/13/2009	Annual Holiday Wine-Tasting	Cuyahoga Valley National Park
11/14/2009	Wreath Making Workshop	Summit County Historical Society
11/14/2009	Holiday Open House	Hatties cafe and Gifts
Sports & Recreation
11/13/2009	Wii Bowling	Firestone Park Branch Library
11/15/2009	Hiking in Cuyahoga Valley	Cuyahoga Valley National Park
Other
11/10/2009	PS2 Gaming Session	Barberton Public Library
11/10/2009	PARF Club Meeting	Pioneer Amateur Radio Fellowship
11/12/2009	Summit Lake Legal Aid Clinic	Community Legal Aid Services
11/15/2009	Hudson Exotic Bird Show (featured event)	NE Ohio Bird Show
11/17/2009	Anime Club	Barberton Public Library

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Home Buyer Tax Credit FAQ's

11-07-09

Akron Ohio Homes for Sale David M. Childress

view my blog
Office: (877) 896-5225

Mobile: (330) 620-8460
Secondary: (330) 620-8460

This list of the most asked questions has been provided to us Akron Ohio Realtors to assist our clients in understanding the changes and time limits on the recent legislation passed and signed by the President on Friday, November 6, 2009. You may contact me or any Realtor in your area for any further questions or concerns you may have. Good luck in your home search!

NAR Frequently Asked Questions

Homebuyer Tax Credit Changes

National Association of REALTORS® Government Affairs Division

Question: Existing homeowner credit: Must the new house cost more than the old house?

Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

Question: I am a firsttime homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?

Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date. So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you're within the phaseout range).

Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit?

Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.

Question: I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?

Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility.

Question: I am an eligible firsttime homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me?

Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.

2 Comments

PORTAGE LAKES, OHIO Lakefront Market Report for October 2009

11-05-09

Caren Wallace-Portage Lakes Real Estate Agent

view my blog
Office: (330) 835-4900

Mobile: (330) 697-3227

sunrise

******OCTOBER 2009 PORTAGE LAKES, OHIO LAKEFRONT MARKET REPORT*****

Active Listings.........................55

Lowest Price............................$75,000

Highest Price...........................$1,180,000

Average Days on Market..........156 days

Average Price per SF................$133

Contingent Listings..................2

Average Days on Market..........164

Pending Listings.......................8

Lowest Price............................$104,000

Highest Price...........................$375,000

Average Days on Market...........48

Average Price per SF................$114

Sold Listings............................5

Lowest Price............................$80,000

Highest Price...........................$435,000

Average Days on Market..........103

Average Price per SF...............$121

At 5 sales per month we have an inventory of Portage Lakes lakefront homes of

11 months. What this means for buyers is a great selection and sellers who are

motivated. It is a great time to buy a lakefront home in Portage Lakes, Ohio.

We have so many different homes to choose from for all economic groups.

There is no time like the present, with mortgage ineterst rates still at or around

5% fixed for 30 years! Consult a Realtor today to get into the Portage Lakes

lifestyle!

Call or email me for a list of Portage Lakes Lakefront homes for sale!

Caren@CarenWallace.com

4 Comments

Halloween Parties in Portage Lakes for" Big Kids!"

10-29-09

Caren Wallace-Portage Lakes Real Estate Agent

view my blog
Office: (330) 835-4900

Mobile: (330) 697-3227

Veronica Krug and the Back Alley Gatorz

Look for Veronica Krug and the Back Alley Gatorz at the Innfield Lounge at

861 Wooster Road West in Barberton on Friday night for a Halloween Party

with prizes for best costume and good food and cheap drinks! Come on out

for a great night with Veronica and the Back Alley Gatorz!! Come in costume and

join in the Halloween fun!

Highway 61 Band

Halloween Night ,Saturday, will be a fun night with Highway 61 at Club Maxx at Dietz's

on Rt. 619 in Portage Lakes, Ohio. Highway 61 delivers R & B with gusto and you will

have a great time dancing to their tunes! Club Maxx offers a large dance floor and

is on West Reservoir in Portage Lakes. We will all be in costume to frighten and scare

you. hahahahahahahaha!

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Akron Ohio Homes for Sale David M. Childress Real Estate Agent Akron, OH view my blog

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