Richard Sanford
December 2014
"Satisfaction Guaranteed"
#1 RE/MAX Realtor in Central Ohio for 2002, 2003, 2004, 2005,2006, 2007, 2009, 2010, 2011, 2012 & 2013

Nine Reasons To Buy
A House Right Now

  The down payment-interest rate-economic factors-qualification quadrangle can be so confusing. Rising rates, loosening requirements, down payment options, buyer's markets, seller's markets - what does it all mean to you if you want to buy a home? The truth is that while the banks might have a magical formula to determine your mortgage-worthiness, determining if the time is right really comes down to three main questions:
      Do you want to buy a home? Are you financially prepared? Is your credit where it needs to be?

Mortgage Rates
U.S. averages as of November 26, 2014:

30 yr. fixed:   3.97%
15 yr. fixed:   3.17%
1 yr. adj:        2.44%

View current rates

      If yes, then go for it. Here are nine reasons to do it now.
      1. Prices are good. According to the latest S&P/Case-Shiller report, home prices are still gaining, but have slowed.
Wondering What Your Home Is Worth?

Let me show you.

Should You Remodel or List Your Home For Sale?
     If you've been watching a lot of HGTV, you may be in the mood to make changes. Is it time to remodel? Or is it time to sell?
      Just like anything that gets a lot of use, homes show wear and tear after a few years. Certain color schemes and decorative styles begin to look outdated. And there are some improvements that you may have put off as a new homeowner that you can afford to do now.
      Some market conditions are in your favor -- interest rates are still extremely low and below where they were a year ago and the economy is improving, so you'll likely get much of what you spend to improve your home back when it comes time to sell.
      The question to answer is this: If you improved your home the way you want, would you want to stay in it for a few more years, or are you ready for a complete change?
      Home improvements can be substantial, such as adding a bedroom and bath to the existing footprint of your home or outfitting a kitchen with new countertops, cabinets and appliances. You want your home to support the standards set by your neighborhood, but you also don't want to end up with the most lavish house on the block.
      To get started, put together the right team. If you' aren't moving walls or

The Biggest Mistake
Sellers Make

     Home prices are starting to inch up again in most areas, which is encouraging sellers to believe that their homes will sell quickly and for more money. And that's when they start making mistakes.
      Don't be one of them.
      Overpricing a home is the biggest mistake a seller can make. Asking a high price for your home says more about you than it does about your home. It may show you value your investment, that you have cared for the home and kept it updated and in good repair. But if the price is too high compared to other similar homes, it can make you appear unrealistic.
      Buyers shop in a range that they've either been given by their lenders or one where they feel comfortable. If they're searching on the MLS, they will typically look at homes they can afford and may miss seeing the page where your home is advertised because it's out of their price range.
      It's also psychologically easier for buyers to negotiate in their price target range. Buyers feel more comfortable asking for a little discount on a home within their reach than to ask you for a big discount on a more expensive home.
      You won't get the more affluent buyer either. Buyers who can afford to pay the price of your home will simply compare your home to others in the same range. They will quickly find out that other homes have better locations, more square footage and snazzier finishes than yours and for the same price.
      You'll find your home will get few showings and if you get any offers at all,

Start Building Your
Home's Equity Now

     There are two ways to build equity, or ownership, in your home. One is to pay what you owe your lender which reduces the principle owed on your mortgage, and the other is to take advantage of market upswings which increase the value of your home.
      One way to build equity is to put more money down on the home you want to buy. Lenders have returned to tried and true models of income-to-debt ratios, requiring that borrowers put more money down when they purchase a home. While it's still possible to get zero-down loans, such as those offered by the VA, most loans with low down payments require mortgage insurance.
      For a conventional loan, one eligible for purchase on the secondary market by Fannie Mae or Freddie Mac, requirements are stricter, but there is also more leeway on eligibility.

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

More Articles
November Round Up: Fixed Mortgage Rates Dip Just Below 4.00%
Don't Shop For Homes Alone
Understand Your Credit Scores
Five Home Improvements To Avoid For Resale

Richard Sanford, Broker
614-792-2222 Direct
614-271-9943 Mobile
RE/MAX Achievers
614-848-9400 Office
7124 Muirfield Dr.
Dublin, OH 43017

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