Tammy Murphy, e-PRO^® REALTOR^® 937.838.0997

You’ve either heard me say it before or read it – NOW is the time to buy a home… WHY??

• Tax. Credit. expires April 30, 2010 : for First Time Home Buyer = up to $8,000 and for Current Owner = up to $6,500!

• FHA guidelines are set to add .5% to the “upfront mortgage insurance premium” (ALREADY ISSUED)  AND

• FHA will reduce the Seller’s ability to contribute up to 6% of your closing costs (reduces to 3%) starting this Summer.

CLICK NAR FHA changes coming 2010 to read more details about upcoming changes…

Getting NEW CLIENTS is an opportunity to not only expand my business but a chance to meet new people like you!  So as an added incentive to the great working relationship we can develop as Buyer / Seller to Realtor, I would like to offer the option to register on my SITE and new clients will be entered into a drawing to WIN $250 Gift Card for Lowe’s.

CLICK HERE to be taken to the Registration Site.  And I look forward to working with you in the near future!

By the way – even if you don’t happen to WIN the gift card – I hope that you will feel you still “WIN” working with ME!

As reported by our Dayton Area Board of Realtors:

Dayton Area Home Sales for January 2010 The year 2010 opened with year-over-year single-family average property values increasing for the seventh straight month. The average price for January came in at $112,643, up 9% over last January’s $103,323.The median sales price was $90,000, an even more impressive year-over-year increase of 20% over January 2009’s $75,000 median.

So – get in the market and take a look as the opportunities are still around for buying homes with lower interest rates and if you’re selling a home – NOW is the time people who want to buy are really making their moves – don’t let your house miss its chance!

In the process of buying or selling a home – the Good Faith Estimate (GFE) is what boils down all the numbers and tells buyers what the home is costing them with closing, prepaids, and how much they need to bring to the table; for the seller it tells how much the Sales Price of the home less any closing costs, prepaids, mortgage payoff(s) and finally the total NET amount to seller.  Click to read more

Chances are – if you are looking to buy a home – then most (if not all) of these items make your list of things desired for your new place…{and if you are ready to sell – you may benefit the bottom dollar and lessen the listing time by making sure some of these items are features of your house}:

1. Large Kitchens, With an Island

2. Energy-Efficient Appliances, High-Efficiency Insulation and High Window Efficiency

3. Home Office/Study

4. Main-Floor Master Suite

5. Outdoor Living Room

6. Ceiling Fans

7. Master Suite Soaker Tubs

8. Stone and Brick Exteriors

9. Community Landscaping, With Walking Paths and Playgrounds

10. Two-Car Garages

See full Market Watch article HERE

This is something I get asked about from time to time and always a topic “of discussion.”  Believe it or not, most Realtors are way underpaid and technically speaking – the industry hasn’t really seen a “raise.”  The NAR has said that from the beginning of time, Realtors typically have earned 6% commission (that’s 3% for Buyer’s Agent and 3% for Listing Agent.)  Sure – cost of homes has gone up – so in that respect maybe there has been a raise – but the cost of doing business has also gone up.  You do need to understand that the commission is NEGOTIABLE and NOT SET at a fixed rate (because that would be illegal.)  However, any of the Realtors who are worth their services – are also worth the commission.

Just discussed was “the compensation structure for Realtors” and this is an interesting tid-bit that might help the public to understand more of why a Realtor is unwilling to discount their commission, of the Realtors polled:

Percentage Commission Split–70%
100% Commission–17%
Commission Plus Share of Profits–3%
Salary Only–2%
Salary Plus Share of Profits/Production Bonus–3%
Share of Profits Only–1%
Other–4%

Basically, the Realtor does not get paid unless the deal closes.  So while many clients become frustrated with the process (especially now with all the changes) you can see that the Realtors also get caught when the deal does not close.

There are always situations that come up to test our knowledge!  This question arises when you have a co-signing person who already owns a property and would not qualify for the tax credit on their own – but the principal home owner would be a qualifying First Time Home Buyer.  Click to read more

Don’t rely on the news to learn whether or not the housing industry is doing any better…see for yourself.  The Ohio Association of Realtors just released Jan – Oct 09 sales figures :  OH RE Jan to Oct 09 Report

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