tag:blogger.com,1999:blog-4401889844586859382024-03-13T13:45:03.980-04:00The Schrand Team MagazineDirect: 513-347-1715 (Jack), 513-347-1716 (Gail)
Mobile: 513-258-6006 (Jack), 513-258-6000 (Gail)
jack.schrand@cbws.comUnknownnoreply@blogger.comBlogger26125tag:blogger.com,1999:blog-440188984458685938.post-53686797623056825242010-02-05T14:09:00.006-05:002010-02-05T14:24:13.617-05:00THINGS YOUR BURGLAR WON'T TELL YOU<a href="http://1.bp.blogspot.com/_lusSvHiEfMs/S2xuGzv7UOI/AAAAAAAAAIY/Fox-w9EQamw/s1600-h/Burglary+in+process.jpg"><img id="BLOGGER_PHOTO_ID_5434839913578844386" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 91px; CURSOR: hand; HEIGHT: 100px" alt="" src="http://1.bp.blogspot.com/_lusSvHiEfMs/S2xuGzv7UOI/AAAAAAAAAIY/Fox-w9EQamw/s400/Burglary+in+process.jpg" border="0" /></a> 1. Of course I look familiar. I was here just last week cleaning your carpets, painting your shutters, or delivering your new refrigerator.<br /><br /><div></div><div>2. Hey, thanks for letting me use the bathroom when I was working in your yard last week. While I was in there, I unlatched the back window to make my return a little easier.</div><br /><div>3. Love those flowers. That tells me you have taste ... And taste means there are nice things inside. Those yard toys your kids leave out always make me wonder what type of gaming system they have.</div><br /><div>4. Yes, I really do look for newspapers piled up on the driveway. And I might leave a pizza flyer in your front door to see how long it takes you to remove it.</div><br /><div>5. If it snows while you're out of town, get a neighbor to create car and foot tracks into the house. Virgin drifts in the driveway are a dead giveaway.</div><br /><div>6. If decorative glass is part of your front entrance, don't let your alarm company install the control pad where I can see if it's set. That makes it too easy.</div><br /><div>7. A good security company alarms the window over the sink. And the windows on the second floor, which often access the master bedroom-and your jewelry. It's not a bad idea to put motion detectors up there too.</div><br /><div>8. It's raining, you're fumbling with your umbrella, and you forget to lock your door-understandable. But understand this: I don't take a day off because of bad weather.</div><br /><div>9. I always knock first. If you answer, I'll ask for directions somewhere or offer to clean your gutters. </div><br /><div>10. Do you really think I won't look in your sock drawer? I always check dresser drawers, the bedside table, and the medicine cabinet.</div><br /><div>11. Here's a helpful hint: I almost never go into kids' rooms.</div><br /><div>12. You're right: I won't have enough time to break into that safe where you keep your valuables. But if it's not bolted down, I'll take it with me.</div><br /><div>13. A loud TV or radio can be a better deterrent than the best alarm system. If you're reluctant to leave your TV on while you're out of town, you can buy a $35 device that works on a timer and simulates the flickering glow of a real television. </div><div> </div><div><strong>8 MORE THINGS A BURGLAR WON'T TELL YOU:</strong></div><br /><div>1. Sometimes, I carry a clipboard.. Sometimes, I dress like a lawn guy and carry a rake. I do my best to never, ever look like a crook.</div><br /><div>2. The two things I hate most: loud dogs and nosy neighbors.</div><br /><div>3. I'll break a window to get in, even if it makes a little noise. If your neighbor hears one loud sound, he'll stop what he's doing and wait to hear it again. If he doesn't hear it again, he'll just go back to what he was doing. It's human nature.</div><br /><div>4. I'm not complaining, but why would you pay all that money for a fancy alarm system and leave your house without setting it?</div><br /><div>5. I love looking in your windows.. I'm looking for signs that you're home, and for flat screen TVs or gaming systems I'd like. I'll drive or walk through your neighborhood at night, before you close the blinds, just to pick my targets.</div><br /><div>6. Avoid announcing your vacation on your Facebook page. It's easier than you think to look up your address.</div><br /><div>7. To you, leaving that window open just a crack during the day is a way to let in a little fresh air. To me, it's an invitation.</div><div></div><div>8. If you don't answer when I knock, I try the door. Occasionally, I hit the jackpot and walk right in.</div><br /><div><em>Sources: Convicted burglars in North Carolina , Oregon , California , and Kentucky ; security consultant Chris McGoey, who runs </em><a title="http://crimedoctor.com/" href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://crimedoctor.com/" target="_blank"><em>crimedoctor.com</em></a><em> ; and Richard T. Wright, a criminology professor at the University of Missouri-St. Louis , who interviewed 105 burglars for his book Burglars on the job . </em></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-39581718254475452922009-12-29T15:27:00.002-05:002009-12-29T15:33:35.402-05:00House Logic<a href="http://3.bp.blogspot.com/_lusSvHiEfMs/SzpnbfphpbI/AAAAAAAAAII/JSP9K-0v630/s1600-h/Couple+viewing+paper.bmp"><img id="BLOGGER_PHOTO_ID_5420758823543612850" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 155px; CURSOR: hand; HEIGHT: 99px; TEXT-ALIGN: center" alt="" src="http://3.bp.blogspot.com/_lusSvHiEfMs/SzpnbfphpbI/AAAAAAAAAII/JSP9K-0v630/s400/Couple+viewing+paper.bmp" border="0" /></a>Here's an interesting site....<br /><br /><div>Check out <a href="http://www.houselogic.com/">http://www.houselogic.com/</a> for some interesting tools pertaining to home ownership. Then let me know what you think.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-23906605866820255472009-11-16T16:55:00.001-05:002009-11-16T17:00:13.867-05:00Ohio Housing Grants for Grads Program<a href="http://3.bp.blogspot.com/_lusSvHiEfMs/SwHLHEvHs5I/AAAAAAAAAIA/uriy99mBTvk/s1600/small+house+on+dollars+2.bmp"><img id="BLOGGER_PHOTO_ID_5404824350212207506" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 157px; CURSOR: hand; HEIGHT: 103px" alt="" src="http://3.bp.blogspot.com/_lusSvHiEfMs/SwHLHEvHs5I/AAAAAAAAAIA/uriy99mBTvk/s400/small+house+on+dollars+2.bmp" border="0" /></a> Ohio is seeking to keep more natives in the Buckeye State after college with a new program that lightens the load for home-buying graduates.<br />The Ohio Housing Finance Agency opened up the Grants for Grads program, an initiative that gives any graduate of an Ohio high school a 2.5 percent break on the purchase price of a home within 18 months of graduating from college. Grads don’t receive the full benefit of the break, which helps with down-payment and closing costs, unless they stay in the house for at least five years.<br /><br />The program got a final legislative OK as a part of the two-year budget Gov. Ted Strickland signed in July. Erin Biehl, a spokeswoman for the agency, said $1 million initially has been set aside for the program but officials hope it will eventually become self-sustaining.<br /><br />The agency, which provides tax credits for housing developments, mortgages and down-payment assistance to buyers, will issue the grants in the form of zero-percent second mortgage loans to homebuyers who get a first mortgage through a lender affiliated with the agency within 18 months of receiving an associate’s, bachelor’s, master’s, doctoral or other postgraduate degree.<br /><br />The aid comes in the form of a mortgage loan that’s forgivable after five years, Biehl said, because the agency is then able to track if borrowers move out of state. Those who leave Ohio before the five-year window is up are required to pay back part of the grant.<br />Strickland said in a release that the program is a way to “better position the state to meet the needs of future graduates as they make plans to build their personal and professional lives in Ohio after college.”<br /><br />“Retaining educated and qualified graduates will also help to attract new jobs and prevent others from leaving the state,” Strickland said.<br /><br />While the grant applies to Ohioans regardless of where they attended college, research indicates the risk of “brain drain” is high even for students who attend college in-state. A survey released this summer by the Washington, D.C.-based Thomas B. Fordham Institute think tank found that 51 percent of in-state students say they’ll look elsewhere for jobs after graduation. Of those surveyed, 60 percent said down-payment help would be an attractive incentive for staying in Ohio.<br /><br />The agency has put income and purchase price restrictions on the program that vary from county to county. In Franklin County, for example, a one- or two-person family can’t participate if annual income is higher than $82,320, while the maximum purchase price for a new or existing home is $298,180. That would value the state’s incentive at up to $7,455.<br /><br />For more information, go to: http://www.ohiohome.org/homebuyer/grantsforgrads.aspx.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-26117610251334013202009-11-10T17:08:00.004-05:002009-11-10T17:28:56.465-05:00More Tax Credit Extension Details<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/Svnk30t_GlI/AAAAAAAAAH4/dUYUEY6HNaE/s1600-h/TaxCredit.jpg"><img id="BLOGGER_PHOTO_ID_5402600875703081554" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 300px; CURSOR: hand; HEIGHT: 213px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/Svnk30t_GlI/AAAAAAAAAH4/dUYUEY6HNaE/s400/TaxCredit.jpg" border="0" /></a> It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. <div><br />In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.<br />So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn. </div><div><br /><strong>Additionally, the program now gives those who already own a residence some additional reasons to move to a new home.</strong> This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.<br />Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. </div><div><br /><strong>Higher Income Caps in Effect</strong> </div><div>The amount of income someone can earn and qualify for the full amount of the credit has been increased.<br />Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.<br />Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. </div><div><br /><strong>Maximum Purchase Price</strong> </div><div>Qualifying buyers may purchase a property with a maximum sales price of $800,000. </div><div> </div><div><strong>First-Time Homebuyer Tax Credit – Frequently Asked Questions</strong></div><div>Here are answers to some commonly asked questions about the tax credit. </div><div><br /><strong>What is a tax credit?</strong> </div><div>A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence. </div><div><br /><strong>What is the tax credit for first-time homebuyers (FTHBs)?</strong> </div><div>An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000. </div><div><br /><strong>Who is eligible for the FTHB tax credit?</strong> </div><div>Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible. </div><div><br />As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500. </div><div><br /><strong>How do I claim the credit?</strong> </div><div>For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (<a href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www.irs.gov/pub/irs-pdf/f5405.pdf" target="_blank">https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www.irs.gov/pub/irs-pdf/f5405.pdf</a>). </div><div><br /><strong>Can you claim the tax credit in advance of purchasing a property?</strong> </div><div>No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place. </div><div><br /><strong>Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property?</strong> </div><div>Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. </div><div> </div><div><strong>According to the IRS, factors that would demonstrate the ownership of the property would include:</strong> </div><div>1. the right of possession, </div><div>2. the right to obtain legal title upon full payment of the purchase price, </div><div>3. the right to construct improvements, </div><div>4. the obligation to pay property taxes, </div><div>5. the risk of loss, </div><div>6. the responsibility to insure the property and </div><div>7. the duty to maintain the property. </div><div><br /><strong>Are there other restrictions to taking the credit?</strong> </div><div>Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.<br />You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.<br />You do not use the home as your principal residence.<br />You sell your home before the end of the year.<br />You are a nonresident alien.<br />You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)<br />Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)<br />You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009. </div><div><br /><strong>Can you buy a home from a step-relative and be eligible for the credit?</strong> </div><div>Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed. </div><div><br /><strong>Can parent(s) who will not live in the property cosign for a mortgage</strong> </div><div><strong>for their child and the child that is a qualifying FTHB still be eligible for the credit?</strong> </div><div>Yes. </div><div><br /><strong>Can a separated spouse who has not owned a home for four years qualify</strong> </div><div><strong>for the FTHB tax credit if the spouse has owned a property anytime in the last three years?</strong> </div><div>No. However, the spouse may be eligible for the repeat buyer credit. </div><div> </div><div><strong>The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.</strong> </div><div><br />If you have any questions that fall outside the situations here, give me a call and if you do not have an accountant to speak with, I can refer you to one. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-40340724448292498372009-11-10T16:42:00.001-05:002009-11-10T16:48:15.302-05:00Federal Tax Credit Extended & Expanded<a href="http://1.bp.blogspot.com/_lusSvHiEfMs/SvnfiHolHvI/AAAAAAAAAHw/LfK1sjdNb7k/s1600-h/US+Capital+%26+Money+Sky.bmp"><img id="BLOGGER_PHOTO_ID_5402595005265420018" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 148px; CURSOR: hand; HEIGHT: 100px" alt="" src="http://1.bp.blogspot.com/_lusSvHiEfMs/SvnfiHolHvI/AAAAAAAAAHw/LfK1sjdNb7k/s400/US+Capital+%26+Money+Sky.bmp" border="0" /></a><br /><div>The federal tax credit program (extension and expansion) for home buyers was signed into law on Nov. 6, 2009.<br /><br />As you know, the extended and expanded program is available to both first-time buyers AND existing homeowners (who qualify). There are income limits.<br /><br />The tax credit is available for “principal” residences only (vacation homes and rental properties are excluded). Maximum purchase price is $800,000.<br /><br />Click on the link below to access the Internal Revenue Service (IRS) most recent memorandum on this subject matter. IRS is currently updating related info, but for now, click below:<br /><br /><a href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7" target="_blank">https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7</a></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-30563768202273393092009-08-19T14:48:00.004-04:002009-08-19T14:57:24.083-04:00Must Close by November 30, 2009 to take advantage of $8,000 Federal Mortgage Incentive<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/SoxJZauKezI/AAAAAAAAAHo/Nh4HLFdhmog/s1600-h/Money+Clock.jpg"><img id="BLOGGER_PHOTO_ID_5371749156564663090" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 300px; CURSOR: hand; HEIGHT: 192px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/SoxJZauKezI/AAAAAAAAAHo/Nh4HLFdhmog/s400/Money+Clock.jpg" border="0" /></a>Since Congress passed the American Recovery and Reinvestment Act, many have seized the opportunity offered by the $8,000 tax credit for first-time home buyers. When you factor in today's historically-low interest rates and housing affordability with the financial opportunities<br />"It's hard to imagine a better time than right now to be a first-time buyer," said Jim Weichert, president and founder of Weichert, REALTORS. "Mortgage rates and home prices are all favorable. Recent economic news is encouraging and the government is providing a large financial incentive.<br />In addition to taking advantage of the tax credit, another reason for first-time buyers to consider making a purchase now are the recent signs of a stabilizing real estate market. Last week, NAR announced that home sales increased in 39 states in the second quarter of the year compared to the first. Last month, the S&P/Case-Shiller index showed an increase<br />Source: Weichert REALTORSUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-58043138879565002112009-05-29T17:46:00.004-04:002009-05-29T18:36:05.158-04:00$8,000 Credit Toward Down Payment and Closing Costs<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/SiBjMszpnOI/AAAAAAAAAHg/ek48pmXlR74/s1600-h/1st+X+Buyer+Tax+Credit.bmp"><img id="BLOGGER_PHOTO_ID_5341378227898784994" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 103px; CURSOR: hand; HEIGHT: 82px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/SiBjMszpnOI/AAAAAAAAAHg/ek48pmXlR74/s400/1st+X+Buyer+Tax+Credit.bmp" border="0" /></a> U.S. Housing and Urban Development Secretary, Shaun Donovan, announced today that the Federal Housing Administration (FHA) will allow homebuyers to apply the federal $8,000 first-time homebuyer tax credit toward the purchse costs of an FHA insured home loan. <div><br /><div>The American Recovery and Reinvestment Act of 2009 offers home buyers a tax credit of up to $8,000 for purchasing their first home. Buyers can access this credit after filing their tax returns with the IRS. Today's announcement details FHA's rules allowing state finance housing agencies to "monetize" up to the full amount of the tax credit so that the borrowers can immediately apply the funds toward their down payment. Home buyers using FHA-approved lenders can apply tax credit to their down payment in excess of 3.5% required of their own funds which can help reduce their interest rate or lower their borrowed amount. To read the FHA's new mortgagee letter please visit <a href="http://www.hud.gov/news/release.cfm?CONTENT=pr09-072.cfm">HUD's website</a>.</div><br /><div>Currently, borrowers applying for an FHA insured mortgage are required to make a minimum down payment of 3.5%. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5% minimum down payment; but under the terms of today's announcement lenders can now monetize the tax credit for use as additional down payment, or for other closing costs. In addition to the borrower's own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the down payment. This program will allow home buyers to shop for the best price and services using their anticipated tax credit. These purchases may also free up existing home owners to purchase another home because a first time buyer purchased their home.</div><br /><div>For a personalized discussion about how this may affect your own situation please call the Schrand Team at 513-347-1715.</div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-21474627948403228342009-05-05T13:14:00.004-04:002009-05-05T13:25:34.051-04:00Local Market Doing Better<a href="http://4.bp.blogspot.com/_lusSvHiEfMs/SgB1ELa9TFI/AAAAAAAAAHQ/0qh304sww9Q/s1600-h/News+-+Newspaper.jpg"><img id="BLOGGER_PHOTO_ID_5332390673452452946" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 150px; CURSOR: hand; HEIGHT: 132px" alt="" src="http://4.bp.blogspot.com/_lusSvHiEfMs/SgB1ELa9TFI/AAAAAAAAAHQ/0qh304sww9Q/s320/News+-+Newspaper.jpg" border="0" /></a> Pending Sales Up More Locally than Nationally<br />Washington, May 4, 2009<br /><div>Source: Cincinnati Area Board of Realtors</div><br /><div>Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors®.The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2% to an “index” of 84.6 from a level of 82.0 in February, and is 1.1% higher than March 2008 when it was 83.7.<br /><br /><strong>From CABR: Numbers for March were greater locally than nationally. March 2009 Cincy MLS pendings were up 22.7% from February, and up 3.5% from March one year ago.<br /></strong><br />Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a down payment,” he said. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”<br /><br />NAR’s Housing Affordability Index (HAI) remained near record highs. The affordability index was 166.7 in March – down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8% higher than a year ago. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tacking began in 1970.<br /><br />The Pending Home Sales Index in the South rose 8.5% to 93.2 in March and is 7.7% above a year ago. In the West the index increased 3.9% to 93.1 and is 1.7% higher than in March 2008. The index in the Northeast fell 5.7% to 59.5 in March and is 24.1% below a year ago. In the Midwest the index slipped 1.0% to 82.3 but is 8.2% higher than in March 2008.<br /><br />NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the increase in buying power is quite remarkable. “Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment,” he said. “For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”<br /><br />A median-income family, earning $61,100, could afford a home costing $291,600 in March with a 20% down payment, assuming 25% of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small down payments are roughly 80% of that amount. The affordable price was notably higher than the median existing single-family home price in March, which was $174,900.The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-12705249069881705492009-04-09T19:32:00.005-04:002009-04-09T20:03:49.979-04:001956 Cincinnati Reds<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/Sd6IRm4XswI/AAAAAAAAAHI/mRKXkkPTK0M/s1600-h/Joe+Nuxhall+1928-2007.jpg"><img id="BLOGGER_PHOTO_ID_5322841645674640130" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 218px; CURSOR: hand; HEIGHT: 320px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/Sd6IRm4XswI/AAAAAAAAAHI/mRKXkkPTK0M/s320/Joe+Nuxhall+1928-2007.jpg" border="0" /></a> Pictured to the left is the "Ole <span class="blsp-spelling-error" id="SPELLING_ERROR_0">Left Hander</span>", Joe <span class="blsp-spelling-error" id="SPELLING_ERROR_1">Nuxhall</span>. (1928-2007) We still miss him. See if you can find him on the U-Tube post below.<br /><br />This one is especially for us "ole timers" who can remember the <a title="http://www.youtube.com/watch?v=" href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www.youtube.com/watch?v=mZtjDDvL750" target="_blank">1956 Cincinnati Reds</a>. Now that the new season has started it's fun to look back. See if you can remember these players.<br /><br />There's no other <span class="blsp-spelling-corrected" id="SPELLING_ERROR_2">pass time</span> and no other sport quite like Cincinnati Reds Baseball.<br /><br />By the way, how did you do in identifying these Cincinnati ballplayers. Did the "What's My Line" show bring back memories too?Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-11719012747814395442009-03-25T17:26:00.006-04:002009-03-25T17:57:13.656-04:00Housing Experts: The Ship Is Slowly Turning Around<a href="http://4.bp.blogspot.com/_lusSvHiEfMs/Scqoo9FE_3I/AAAAAAAAAHA/8uFZH93SbDc/s1600-h/9+News+Ruwes+Oak.jpg"><img id="BLOGGER_PHOTO_ID_5317247731608387442" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 200px; CURSOR: hand; HEIGHT: 150px" alt="" src="http://4.bp.blogspot.com/_lusSvHiEfMs/Scqoo9FE_3I/AAAAAAAAAHA/8uFZH93SbDc/s200/9+News+Ruwes+Oak.jpg" border="0" /></a>On March 23rd Jack Schrand appeared on WCPO-TV Channel 9 in Cincinnati in their story <a href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www.wcpo.com/content/financialsurvival/yourlocalstories/story/Housing-Experts-The-Ship-Is-Slowly-Turning-Around/g7WvRzas8kmC3moaWPEn9g.cspx?rss=703" target="_blank" alt="WCPO.com">"Housing Experts: The Ship Is Slowly Turning Around"</a>. Reporter, Tom McKee, interviewed Schrand and other key players in the local real estate industry from the Cincinnati Area Board of Realtors. You can read the written article or view the television segment at this link.<br /><div><div><div><div><div><div><div><div><div><div></div><div></div><br /><div>There are certainly opportunities available in this market. If you have been thinking of making a housing move or are planning to purchase your first home please call us. We will help you get a realistic perspective of the opportunities and realities of today's housing market. While this is an excellent time for some to make a move; it may not be for others. Let's talk about it.</div></div></div></div></div></div></div></div></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-43628317137515521732009-03-18T11:37:00.003-04:002009-03-18T12:07:07.411-04:00What is a Short Sale?<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/ScEcDLluW9I/AAAAAAAAAFs/SBdEYXU_0pM/s1600-h/Small+House+on+Dollars.bmp"><img id="BLOGGER_PHOTO_ID_5314559876250098642" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 201px; CURSOR: hand; HEIGHT: 134px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/ScEcDLluW9I/AAAAAAAAAFs/SBdEYXU_0pM/s400/Small+House+on+Dollars.bmp" border="0" /></a> Short sales are becoming more common in today's market because some home owners owe more on their mortgage than the home will sell for. In a short sale the lender, or lenders if there is more than one mortgage, is willing to accept less money than is owed to pay off the mortgage(s). The home is then sold "short" of what is owed. This allows both the home owner and their lender to avoid the expensive and devastating prospect of foreclosure.<br /><div></div><br /><div>The lender is not required to accept a "short sale" offer and often takes a long time to come to this decision. In most cases short sales are anything but "short". It usually takes much longer to receive an acceptance to your offer than would normally be the case. We may be talking weeks or even months instead of days. They are not for everyone; but sometimes offer an opportunity to purchase a home at a slightly less than market price. The homes are almost certainly sold "as-is" and frequently involve some deferred maintenance.</div><br /><div></div><div>The bank involved is sometimes willing, and often eager, to continue to look at and accept other offers from different buyers until a written acceptance is obtained. As stated already, this may take some time to receive. This type of purchase is not for the faint of heart. Disappointments often occur. It is so very important to have a Realtor working for you who can guide you through this process. If you don't like surprises then a more traditional purchase may suit you better.</div><br /><div></div><div>If you would like to discuss the opportunities available to you in this market we are ready to assist you. Whether it's a short sale, a foreclosure or a traditional sale it pays to know what's involved before you make the leap. There are also many financing opportunities that should also be discussed. Call us. We can help.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-37294547847639169892009-03-17T19:20:00.003-04:002009-03-18T12:13:35.124-04:00Frequently Asked Questions About the 1st Time Buyer Tax Credit<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/ScEdRHoWgKI/AAAAAAAAAF0/-Y0kLsPcc1M/s1600-h/1st+X+Buyer+Tax+Credit.bmp"><img id="BLOGGER_PHOTO_ID_5314561215217172642" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 103px; CURSOR: hand; HEIGHT: 82px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/ScEdRHoWgKI/AAAAAAAAAF0/-Y0kLsPcc1M/s400/1st+X+Buyer+Tax+Credit.bmp" border="0" /></a><em><strong>Question:</strong></em> If I haven't filed my 2008 income tax return yet can I claim the the $8,000 credit for a home purchased on or after January 1st, 2009?<br /><div><div></div><br /><div><em><strong>Answer:</strong></em> YES! You can claim it on your return due April 15th. You can file for an extension or even amend a previously filed return.</div><div></div><br /><div><em><strong>Question:</strong></em> Do I have to repay the tax credit?</div><div></div><br /><div><em><strong>Answer:</strong></em> Not as long as you stay in the home for three years.</div><div></div><br /><div><em><strong>Question:</strong></em> Is there an "adjust4ed gross" income restriction (line 37 on IRS form 1040)?</div><div></div><br /><div><em><strong>Answer:</strong></em> YES> It's $$75,000 for single or head of household. It's $150,000 for marries couples filing jointly.</div><br /><div></div><div><em>Please check with your own tax advisor to confirm your own personal eligibility for this program.</em></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-45567241470910482372009-03-17T18:10:00.003-04:002009-03-18T11:37:24.238-04:00Says it all!<div align="center"><img id="BLOGGER_PHOTO_ID_5314283417459094466" style="DISPLAY: block; MARGIN: 0px auto 10px; WIDTH: 400px; CURSOR: hand; HEIGHT: 199px; TEXT-ALIGN: center" alt="" src="http://4.bp.blogspot.com/_lusSvHiEfMs/ScAgnKVl88I/AAAAAAAAAFc/IVuVptfgwx0/s400/Watcha+doin.bmp" border="0" /> Thanks to Dan in Florida for sharing this insightful depiction of retirement. </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-57692818899538995722009-03-11T17:46:00.003-04:002009-03-11T17:56:54.377-04:00Reds Schedule Magnets<a href="http://3.bp.blogspot.com/_lusSvHiEfMs/SbgzJpee4zI/AAAAAAAAAFU/hnFyMyJFoKM/s1600-h/1956red.jpg"><img id="BLOGGER_PHOTO_ID_5312052001329046322" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 275px; CURSOR: hand; HEIGHT: 297px" alt="" src="http://3.bp.blogspot.com/_lusSvHiEfMs/SbgzJpee4zI/AAAAAAAAAFU/hnFyMyJFoKM/s400/1956red.jpg" border="0" /></a><br /><div>This is a sure sign of spring! We have ordered and soon will be sending out magnetic Reds Baseball Schedules for your refrigerator etc. If you have received them in the past you should get one again this year. If you would like to receive one and you haven't received yours by early April please call us. We will make any extras available on a first come, first served basis.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-47727759205809890482009-03-11T15:51:00.003-04:002009-03-11T17:42:41.645-04:00Homebuyer Tax Credit Increased to $8,000<img id="BLOGGER_PHOTO_ID_5312048547275272770" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 199px; CURSOR: hand; HEIGHT: 149px" alt="" src="http://1.bp.blogspot.com/_lusSvHiEfMs/SbgwAmH48kI/AAAAAAAAAFM/GBIHialcKyM/s320/Stimulus.bmp" border="0" />On February 17th, 2009 Congress passed and President Obama signed into law the American Recovery and Reinvestment Act of 2009 known as "The Stimulus Plan". One of the key provisions for real estate purchasers is the expansion of the home buyer tax credit program. It's a major perk for certain home buyers. <div><br /><div></div><div>1. This program's full benefits are available for single persons with <strong>adjusted gross income</strong> (<em>line 37 on your 2008 1040 federal income tax return</em>) up to <strong>$75,000</strong> 0r <strong>$150,000</strong> for married couples filing a joint return. Partial benefits are available for single persons with incomes between <strong>$75,000</strong> and <strong>$95,000</strong>, or for married couples filing jointly with incomes between <strong>$150,000</strong> and <strong>$170,000</strong>. You may take the tax credit in either 2008 or 2009. If the eligible purchaser's federal income tax liability is less than the homeowner tax credit, the purchaser may receive a refund from the IRS for the unused amount. Consult your tax advisor for full guidance. This is merely meant to introduce you to the possibilities that may be available to you within this program.</div><br /><div>2. When you hear on the news that this program is only for first-time buyers that's not entirely true. This program benefits first time buyers and <strong>anyone who hasn't owned a home in the immediate three previous years</strong>.</div><br /><div>3. The program has been expanded. The maximum* tax credit is now <strong>$8,000</strong> for eligible buyers (see #1 above) instead of last year's $7,500.</div><br /><div>* The tax credit amount is 10% of the cost of your home up to a maximum of $8,000. If you sell the home after receiving the tax credit you would owe the government a repayment for the tax credit taken plus the amount of refund to you as a result of this program. The IRS will be providing further guidance regarding how this can be accomplished.</div><br /><div><em>Note 1: buyers who use state revenue bond financing may also use this tax credit. This could include the OHFA Bond Loan or their MCC tax credit.</em></div><br /><div><em>Note 2: You cannot purchase a home from a close relative and receive this credit. This could include your spouse, a parent, a grandparent, a child or a grandchild.</em></div><br /><div>4. The most important feature is that this is a TRUE TAX CREDIT on the purchase of a new or an existing home. </div><br /><div><em>Example: Let's assume that your tax liability would be $12,000. Simply subtract up to $8,000 from your normal income tax liability and your effective liability is reduced to $4,000 in this example. If you've already had $12,000 withheld from your pay for federal income taxes then you could receive an eight thousand dollar refund check from the IRS.</em> </div><br /><div>Last year's program required that you repay the tax credit amount back to the IRS. That's no longer the case for homes purchased between January 1, 2009 through November 30, 2009 unless you sell your home within three years. If you bought in 2008, any tax credit is subject to repayment to the IRS over a 15 year period. That was the 2008 plan.</div><br /><div>This home buyer tax credit is for owner-occupied homes in the U.S. that are used as a primary residence. Vacation homes and rental property are not included. You can have only one principal residence at a time.</div><br /><div>You can see that this program clearly offers tax advantages to certain prospective home buyers. <strong>Please call The Schrand Team (513-347-1715)</strong> to take advantage of this program yourself. Or tell a friend who may qualify. As stated above, please contact your tax advisor to confirm that this program will apply to you.</div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-72260966869618217192009-02-06T20:38:00.002-05:002009-02-06T20:45:15.196-05:00Your Computer While You Sleep<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/SYznmOGT4MI/AAAAAAAAAE0/ALGd5rfSI1A/s1600-h/Arrow+Right.gif"><img id="BLOGGER_PHOTO_ID_5299865505313841346" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 61px; CURSOR: hand; HEIGHT: 53px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/SYznmOGT4MI/AAAAAAAAAE0/ALGd5rfSI1A/s200/Arrow+Right.gif" border="0" /></a>Have you ever wondered what your computer is doing during the time when you're not typing commands on the keyboard? Take a minute to view <a href="http://fc01.deviantart.com/fs13/f/2007/077/2/e/Animator_vs__Animation_by_alanbecker.swf">your computer while you sleep</a>. Once this video starts please keep your fingers off the keys so that you can see for yourself what's really going on. Enjoy!Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-43768333967125834612009-02-06T19:55:00.004-05:002009-02-12T17:39:35.189-05:00OHFA Brings Back Down Payment Assistance Grant<a href="http://4.bp.blogspot.com/_lusSvHiEfMs/SYzju-piWII/AAAAAAAAAEs/thYgISknmqM/s1600-h/MoneyHouse.jpg"><img id="BLOGGER_PHOTO_ID_5299861257738934402" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 200px; CURSOR: hand; HEIGHT: 150px" alt="" src="http://4.bp.blogspot.com/_lusSvHiEfMs/SYzju-piWII/AAAAAAAAAEs/thYgISknmqM/s200/MoneyHouse.jpg" border="0" /></a><br /><div>The Ohio Housing Finance Agency (OHFA) has moved to assist buyers who wish to purchase a home in Ohio. Having enough down payment funds required for a housing purchase is often a hinderance to those otherwise qualified buyers who may want to purchase a home. Keeping with their motto "We open the doors to an affordable place to call home" OHFA has reintroduced their downpayment assistance grant.<br /><br /><div><div><strong>There are two major changes to their previous program:</strong></div><div>1. The grant amount is now 2.5% of the purchase price.</div><div>2. Borrowers taking advantage of this grant must complete OHFA's new Homebuyer's Education Program prior to the issue of a commitment letter approval.</div><br /><div>OHFA assistance on FHA loans carries a 5.875% mortgage rate on 30 year fixed mortgages when down payment assistance is not used. That rate is increased to 6.375% when the down payment assistance is utilized. That's a small price to pay when the biggest hurdle may be down payment cash.</div><br /><div><strong>There are also income and sales price limits:</strong></div><div>Target areas income cannot exceed $79,440 with a purchase price less than $371,250.</div><div>Non-target areas income limit drops to $66,200 with a purchase price less than $303,250.</div><br /><div>For specific information as it pertains to you please call us so that we may direct you to one of our partner lenders who are participating in this program. This is an equal opportunity loan program.</div></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-43409450730158470372009-02-02T20:38:00.005-05:002009-02-02T22:09:49.012-05:00Being a Friend...<a href="http://1.bp.blogspot.com/_lusSvHiEfMs/SYe1VR861yI/AAAAAAAAAEU/GRoJkiZR2JQ/s1600-h/Friendship+Day.jpg"><img id="BLOGGER_PHOTO_ID_5298402863825475362" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 170px; CURSOR: hand; HEIGHT: 141px" alt="" src="http://1.bp.blogspot.com/_lusSvHiEfMs/SYe1VR861yI/AAAAAAAAAEU/GRoJkiZR2JQ/s320/Friendship+Day.jpg" border="0" /></a><br /><div><div>One day, when I was a freshman in high school, I saw a kid from my class was walking home from school. His name was Kyle. It looked like he was carrying all his books. I thought to myself, "Why would anyone bring home all his books on a Friday? He must really be a nerd."<br /><br />I had quite a weekend planned - parties and a football game with friends tomorrow afternoon, so I shrugged my shoulders and went on.<br /><br />As I was walking, I saw a bunch of kids running toward him. They ran at him, knocking all his books out of his arms and tripping him so he landed in the dirt. His glasses went flying; and I saw them land in the grass about ten feet from him.<br /><br />He looked up and I saw this terrible sadness in his eyes. My heart went out to him. So, I jogged over to him as he crawled around looking for his glasses, and I saw a tear in his eye. As I handed him his glasses, I said, "Those guys are jerks. They really should get lives." He looked at me and said, "Hey thanks!" There was a big smile on his face. It was one of those smiles that showed real gratitude.<br /><br />I helped him pick up his books, and asked him where he lived. As it turned out, he lived near me, so I asked him why I had never seen him before. He said that he had gone to a private school before now. I would have never hung out with a private school kid before. We talked all the way home, and I carried some of his books.<br /><br />He turned out to be a pretty cool kid. I asked him if he wanted to play football with me and my friends. He said yes. We hung out all weekend and the more I got to know Kyle, the more I liked him. My friends thought the same of him.<br /><br />Monday morning came, and there was Kyle with the huge stack of books again. I stopped him and said, "Boy, you are gonna really build some serious muscles with this pile of books everyday!" He just laughed and handed me half of the books.<br /><br />Over the next four years, Kyle and I became the best of friends. When we were seniors we began to think about college. Kyle decided on Georgetown and I was going to Duke. I knew that we would always be friends and that the miles would never be a problem. He was going to be a doctor, and I was going for a business degree on a football scholarship.<br /><br />Kyle was valedictorian of our class. I teased him all the time about being a nerd. He had to prepare a speach for graduation. I was so glad it wasn't me having to get up there to speak.<br /><br />On graduation day I saw Kyle. He looked great. He was one of those guys that really found himself during high school. He filled out and actually looked good in glasses. He had more dates than I had and all the girls loved him. Boy, sometimes I was jealous. Today was one of those days. I could see that he was nervous about his speach. So, I smacked him on the back and said, Hey, big guy, you'll be great!" He looked at me with one of those looks - the really gratefull one - and smiled. "Thanks," he said.<br /><br />As he started his speach, he cleared his throat and began: "Graduation is a time to thank those who helped you make it through those tough years - your parents, your teachers, your siblings, maybe a coach - but mostly your friends. I am here to tell all of you that being a friend to someone is the best gift you can give them. I am going to tell you a story."<br /><br />I just looked at my friend with disbelief as he told of the first day we met. He had planned to kill himself over the weekend. He talked of how he had cleaned out his locker so his mom wouldn't have to do it later; so he was carrying his stuff home. He looked hard at me and gave me a little smile. "Thankfully, I was saved. My friend saved me from doing the unspeakable..."<br /><br />I heard the gasp go through the crowd as this handsome, popular boy told us all about his weakest moment. I saw his mom and dad looking at me and smiling that same gratefull smile. Not until that moment did I realize it's depth. Never underestimate the power of your actions. With one small gesture you can change a person's life - for better or for worse.<br /><br />God puts us all in each other's lives to impact one another in some way. Look for God in others.<br /><br />Author - Unknown</div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-2034130413211188622009-01-29T15:14:00.003-05:002009-01-29T15:20:48.180-05:00Be ID SafeHere's a video about keeping your identity safe from the publishers of "Business Week". This video about <a href="http://www.switched.com/2008/12/01/id-theft/">ID Theft</a> is worth the very short time it takes to view. Keep safe!Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-11244147013947851892009-01-29T13:53:00.005-05:002009-01-29T16:13:50.291-05:00For Sale: $ MONEY $<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/SYH_954v00I/AAAAAAAAAEE/I6A_BUAZ3g0/s1600-h/Couple+viewing+paper.bmp"><img id="BLOGGER_PHOTO_ID_5296796075740353346" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 155px; CURSOR: hand; HEIGHT: 99px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/SYH_954v00I/AAAAAAAAAEE/I6A_BUAZ3g0/s320/Couple+viewing+paper.bmp" border="0" /></a><br /><div>Save about 62% from 1981 mortgage rates. The average home buyer in 1981 paid 16.9% for their mortgage interest rate. Prices also fell dramatically in 1981 from their previous highs.<br /><br />Those who recognized this as temporary and purchased a home then were greatly rewarded for their confidence in the future. Prices came back and continued to rise. They also refinanced those high mortgages after a relatively short time. Sometimes a little historical perspective is interesting and helpful. In the article <a href="http://www2.cabr.org/files/MortgageMoney.pdf">"Mortgage Money On Sale"</a> you can view a chart illustrating annual interest rates from 1981 through the present. 5.1% available today sure looks better than 16.9% in 1981. Maybe you should consider refinancing your present rate; or use these rates on a new purchase. Another article in the "Cincinnati Enquirer", <a href="http://www2.cabr.org/files/MarketConditionsPerfect.pdf">"Market Conditions Perfect"</a> talks about other benefits that may be available currently.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-61599440157103364952009-01-14T18:55:00.002-05:002009-01-14T19:22:57.153-05:00Radio Spots<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/SW6BzQEc7oI/AAAAAAAAAD0/hXANN66eBI8/s1600-h/radio+microphone.jpg"><img id="BLOGGER_PHOTO_ID_5291309329693863554" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 95px; CURSOR: hand; HEIGHT: 170px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/SW6BzQEc7oI/AAAAAAAAAD0/hXANN66eBI8/s320/radio+microphone.jpg" border="0" /></a><br /><div>There were two radio interviews in the past few days that you may find interesting. The first was aired on Sunday, January 11th, 2009, on WVXU as part of their "Big Story" program. It features an interview with Dan Brady, the 2009 Chairman of the Realtor-Lender Committee of the (CABR) Cincinnati Area Board of Realtors. Jack serves with Dan on this committee. This ten minute interview can be listened to at <a title="http://198.234.121.108/cincinnatiedition/011109_BigStory.mp3" href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://198.234.121.108/cincinnatiedition/011109_BigStory.mp3" target="_blank">https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://198.234.121.108/cincinnatiedition/011109_BigStory.mp3</a><a title="http://198.234.121.108/cincinnatiedition/011109_BigStory.mp3" href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://198.234.121.108/cincinnatiedition/011109_BigStory.mp3" target="_blank"></a></div><br /><div></div><br /><div>The second interview aired on Tuesday morning, January 13th on <a title="http://www2.cabr.org/files/DanandPaul113.mp3" href="https://webmail.cboki.com/exchweb/bin/redir.asp?URL=http://www2.cabr.org/files/DanandPaul113.mp3" target="_blank">WLW radio</a>. This interview again featured Mr. Brady along with Paul Jacob, the 2009 CABR President. This was a three minute a.m. drive-time discussion of the fact that we are probably at or near the bottom of the Cincinnati real estate market and poised for a turn around in the near future.</div><br /><div></div><br /><div>Both of these interviews were an excellent discussion of our current market. The $7500 federal tax credit to home purchasers was discussed as well interest rates and availability of of financing. Please turn on your speakers and check this out. You might just be suprised.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-67715246267925507572009-01-08T15:20:00.003-05:002009-01-08T16:03:55.905-05:00What's Going On?<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/SWZqMzs2qwI/AAAAAAAAADc/_1K4Dy1sxpE/s1600-h/young+home+buyers.jpg"><img id="BLOGGER_PHOTO_ID_5289031580662541058" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 320px; CURSOR: hand; HEIGHT: 160px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/SWZqMzs2qwI/AAAAAAAAADc/_1K4Dy1sxpE/s320/young+home+buyers.jpg" border="0" /></a><br /><div>People have been asking this a lot lately. We all want to know - to make some sense of what has been happening. To be sure, many have been devastated by what's been happening in our economy. While others have been eyeing the opportunities these times present.<br /><br />Home foreclosures are way up while stocks are way down. Just what is happening?<br /><br />It's easy to start blaming everyone for our situation. I have my own ideas as to some of the causes for our current situation as I'm sure that you do too. However, a far more productive approach is to ask ourselves "what so we do now that we're here?" Fortunes are made and fortunes are lost in difficult times. They are made by taking bold well thought out steps that take advantage of current situations. Losses usually occur by being afraid to move or by waiting too long to move. Wrong moves are also dangerous. So how do we know what is best?<br /><br />Can you think of actions we could have taken in anticipation of these recent times that would have prevented loss or rewarded us with gain? I certainly can. If I had only shifted certain stock holdings when I first saw problems brewing I'd be better off today. Perhaps you could say the same. However, right moves make opportunities into realities for us.<br /><br />So, what do we do about this? Are there opportunities available to us right now that didn't exist to this extent previously? What are they; and what will we do about them? What is on the horizon that will benefit us by acting now? Who is currently benefiting and why?<br /><br />As noted above, stocks are down and foreclosures are up. This has created an oversupply of properties for sale resulting in much lower sale prices for homes. Like stocks, this oversupply is expected to eventually return to a more normal balance. When this happens, prices and mortgage interest rates will almost certainly increase. We are already starting to see inventories level out, and in some cases reduce. Some economists in our industry are even suggesting that we may have already bottomed out or soon will.<br /><br />What happens next is not certain. It never is. But the signs seem to be appearing out of the fog that may suggest an easing of the crisis with more of an eye to the future. People with reasonably good credit and good employment are in an excellent position to benefit.<br /><br />Perhaps it's time to refinance your mortgage. Rates close to 5% may be available to you. Or maybe now is the best time to buy your first home or move up to a larger one while prices are very favorable. The best prices seem to be available on some of the upper priced homes. Could this be your opportunity? Is now your time to benefit from being in the right place at the right time? At least it's worth thinking about.<br /><br />Regardless of what you decide to do - or for that matter not do - we'd like to be here for you. We've helped many in 2008 take advantage of this market. We've advised others to sit tight for a while due to their own circumstances. Either way, we want what is best for you.<br /><br />Some may need to sell their home but are afraid of this market. We'll help you maximize your home's sale price. It probably won't bring what it would have a few years ago; but we can help you realize the top price available at this time. These are times when our experience really matters. We also know that it's more important to give good advice - advice with your best interest at heart. It's why people trust us. We pledge to keep that trust. We know that's why so many of you refer your friends and family to us. We appreciate that more than you know.<br /><br />We're looking forward to 2009; and we wish you the very best of God's blessings in this new year. Please look forward with confidence and optomism. Then, ask yourself how you can encourage someone who needs it most. When we do this we will certainly have a good new year.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-33808356822262059062009-01-07T15:42:00.005-05:002009-01-08T16:09:43.476-05:00FHA Changes Down Payment and Maximum Loan Amount<a href="http://3.bp.blogspot.com/_lusSvHiEfMs/SWZrdWul_NI/AAAAAAAAADs/JeAabXZeXZ4/s1600-h/Dan+Brady+Smiling.jpg"><img id="BLOGGER_PHOTO_ID_5289032964454612178" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 158px; CURSOR: hand; HEIGHT: 200px" alt="" src="http://3.bp.blogspot.com/_lusSvHiEfMs/SWZrdWul_NI/AAAAAAAAADs/JeAabXZeXZ4/s200/Dan+Brady+Smiling.jpg" border="0" /></a><br /><div>FHA changed its Down Payment requirement and maximum loan amount effective January 1st, 2009. Highlights include: </div><div><br />1. New down payment amount on FHA Purchase Loans has been increased to 3.5% from 3%.<br /></div><div>2. Closing costs are not counted toward the 3.5% down payment requirement.<br /></div><div>3. Seller still permitted to pay up to 6% toward buyer's closing costs.<br /><br />Also effective this year the FHA maximum mortgage amount in the Cincinnati MSA (Hamilton, Butler, Clermont, Warren, Campbell, Kenton, Boone and Dearborne counties) will be adjusted to $271,050 from $337,500 for a single family home.<br /><br />Information provided by Dan Brady of Ross Mortgage Corporation. For further details he can be reached at 513-490-7439.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-47093203960552386852008-12-10T12:49:00.004-05:002008-12-10T13:27:27.266-05:00What is Title Insurance?<a href="http://1.bp.blogspot.com/_lusSvHiEfMs/SUAJ_7QPOzI/AAAAAAAAADM/BW5iMylBCyg/s1600-h/house+on+contract.bmp"><img id="BLOGGER_PHOTO_ID_5278229757120428850" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 275px; CURSOR: hand; HEIGHT: 195px" alt="" src="http://1.bp.blogspot.com/_lusSvHiEfMs/SUAJ_7QPOzI/AAAAAAAAADM/BW5iMylBCyg/s320/house+on+contract.bmp" border="0" /></a><br /><div>Title to your property gives you the legal right of ownership. Title insurance is financial protection against a loss arising from a defect in your title. Although a title search is conducted prior to the issuance of title insurance, there is no way to predict with 100% assurance that a title will not be disputed. The title insurer, however, will defend a future challenge or interest in the property, and the title company will bear all costs of such defense. In other words, Title Insurance is an indemnity contract, protecting the insured against loss or damage up to the amount of their policy.<br /><br />There are two types of title insurance that are most commonly issued in a residential transaction.<br /><br /><strong>Lender's Title Insurance Policy</strong> insures the priority of the lender's lien. It insures the lender that they have a first lien against the property. A lender will require that you purchase a lender's title policy in order to secure your mortgage. It protects the lender, not the borrower, and is issued in the amount of their mortgage.<br /><br /><strong>Owner's Title Insurance Policy</strong> insures the interest of the homeowner in the property. This policy will protect the new owner's interest in the property and will cover the owner's loss arising from a valid claim up to the face amount of the policy; and the insurer will pay all defense costs. This policy is normally issued in the amount of the purchase price.<br /><br /><strong>Benefits of an Owner's Policy:</strong><br />* Modest one-time premium.<br />* Protection for as long as you and your heirs own the property. You are even protected against future claims after you sell the property.<br /><br /><strong>Policy Protects Against:</strong><br />* Claims by someone who has a hidden interest in your property<br />* Documents which are not signed, acknowledged, delivered or recorded properly<br />* Forgery, fraud, duress, incompetence, incapacity or impersonation<br />* Claims arising from undisclosed easements or boundary line disputes (if a survey has been purchased)<br />* Unmarketable title, which allows someone else to refuse to perform on a contract to purchase, lease or make a mortgage loan<br />* <span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">Liens</span> recorded against the property during previous ownership<br /><br />Since this is only a brief discussion about Title Insurance you may direct more specific questions to Judy <span class="blsp-spelling-error" id="SPELLING_ERROR_1">Hauser</span>, Business Development Account Executive with Residential Title Agency, <span class="blsp-spelling-error" id="SPELLING_ERROR_2">LLC</span>. She can be reached at 513-324-3918 or at <a href="mailto:Judy.Hauser@RTitleLLC.com">Judy.Hauser@RTitleLLC.com</a>.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-440188984458685938.post-58448691578522223392008-12-08T17:50:00.004-05:002008-12-10T12:49:05.542-05:00It May Be Time...<a href="http://2.bp.blogspot.com/_lusSvHiEfMs/ST2n_w6nVFI/AAAAAAAAADE/tD3EE0q2tnU/s1600-h/Decisions.jpg"><img id="BLOGGER_PHOTO_ID_5277559052252435538" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; WIDTH: 190px; CURSOR: hand; HEIGHT: 191px" alt="" src="http://2.bp.blogspot.com/_lusSvHiEfMs/ST2n_w6nVFI/AAAAAAAAADE/tD3EE0q2tnU/s320/Decisions.jpg" border="0" /></a><br /><div>I recently ran across a wonderful article in the New York Times <a href="http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=2&em=&adxnnl=1&adxnnlx=1228749079-XE7xEz9rmzLTBOmOXH1rCQn">"IT May be Time..."</a> discussing the decision process some are going through concerning a home purchase in today's market. It discusses both opportunities and cautions to consider.<br /><br />"Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers."<br /><br />I would suggest viewing <a href="http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=2&em=&adxnnl=1&adxnnlx=1228749079-XE7xEz9rmzLTBOmOXH1rCQn">"IT May be Time..."</a> as a guide to your own questions about opportunities available in today's market.</div>Unknownnoreply@blogger.com0