We're Number One!

According to Wednesday, October 21st's issue of The Times Gazette, Highland County's jobless rate is now highest in Ohio. This is not a list we want to be on but it is were we now find ourselves.

Jobs...we need jobs. Until quality employment opportunites return to our area, the local economy is going to struggle at best...which includes real estate values. To get out of the slump we are in is going to take everyone's effort. We need your idea's ... money making, job creating ideas now. You community and your leaders need to hear from you now.

We, the people of Highland County, may not come out of this recession as quick as other parts of the country if we can not put our families back to work. My real estate collegues around the country who have experienced markets with major jobs losses say it will take 10 years to see recovery. Jobs...putting people back to work quickly is the key.

Ohio Fence Law Changes

Many landowners of Highland County real estate are not aware of the new fence law that took affect September 2008. You can now write your own fence agreements with your neighbors. You can agree to choose the type and kind of fence and who is paying for it. The old fence law of "equal shares" is all but gone. Changes have been made to the law when a despute occurs. To read more Click Here.

Rocky Fork Lake: ODNR Denies Request

I believe waterfront homes with access to docks at Rocky Fork Lake just became worth more. With ODNR continuing to hold off the Rocky Fork Golf Course project, it makes a statement to me that those who own waterfront homes with docks own something very special that there might not be any more of...at least in the near future. Only a half dozen or so waterfront homes sell each year now and most of those have limited views of the water with no access to a dock. If you own one...who knows what it might be worth? Click here to read more.

What's Behind Recent Increases in CAUV?

The government has been updating it's information used to calculate CAUV tax rates and the results are going to be increase taxes for farms. In some cases taxes may be increase significantly. CAUV tax rate for land owners is based on a formula that takes into consideration a number of factors such as soil type, yields, crop prices, production costs and whatever else to come up with a net profit per acre. There are 3500+ soil types alone in Ohio. Buckeye Farm News has a frotn page article in its online issue. Click here. YouTube.com video link explaning why are CAUV values increasing? Click Here.

Pending Home Sales Rise

Maybe the world is not as bad as the media would have you to believe?? Signed contracts to purchase homes rose according to Washington AP. Home prices are now believed to be more affordable than they've been since at least 1970 the article reads. With interest rates in the 4%'s and an $8000 tax credit available, now is the time to buy! Read more click

Market Update

It's 10 degrees right now which is a 20 degree temperature swing in just a few hours! A regular heat wave! I got up at 3 A.M. and it was 10 below on my front porch. That makes two nights in a row below 0. I grew up hearing Will Parr on WSRW call Harry Hart and talk about how cold it was in the Belfast valley and thought they were crazy about the temperatures they would report. It was always colder in Belfast than any where else. I thought Harry's thermometer was broke. Now that I'm in the area, I've become a believer!

Real Estate...We are quickly headed back to the way Banks and Lenders used to do business 20 years ago. If you don't have a down payment, a good credit score, and a good income...you will probably be a renter! Many folks ask me... what's wrong with that? Much of the real estate related crisis and foreclosures we are experiencing we brought on ourselves. Many families were allowed to buy homes (because the loan programs were available) that did not stand a chance of making it. When the mortgage broker, realtor, and title company are betting at the closing the buyer won't make it 6 months before going into default, it not a good sign! It was just matter of time before trouble would come...payday is here! Most of the foreclosures in our area are happening because of no money down loans and doublewide financing.

It depends whichside of the fence you are on! Buyers are loving the new market. Home values are down, interest rates are at record lows, inventory levels are high meaning there are some good opportunities and excellent values out there! I had a young couple say to me, "it' about time values come down...we can now enter the market, stop renting and buy a home! We have been waiting and felt like we were priced out the market and could not afford a nicer home." Guess what...they're right and they recently bought a home $20,000 under what it would have cost 18 months ago.

Lary Lohse, mortgage broker for Midwest Mortgage called yesterday and said another one of his sources for doublewide financing pulled all loans. This has steadily been happening one by one. This gradually forces buyers to have a bigger down payment and go with a conventional type loan. We'll see how this all plays out.

DHL Leaving Town!

Rumors are flying that the overnight freight company DHL may be leaving Wilmington. Phone calls are coming into our office daily wanting to know how this may affect the future real estate market. Here's my thoughts: If DHL leaves our area, a significant down pressure on home values will be created. My counsel is that if you have been planning to make move, now will probably be better to sell than later. With approx. 6000 employees facing job loss, approx. 2500 of which live in Highland County, it is unknown at this time how many homes will be entering the market to be sold. Inventory levels will most likely significantly increase forcing prices downward as families compete for a smaller pool of buyers. If you do not need to sell and plan on staying in the area for many years to come, don't worry about DHL. If my house goes up in value, so does yours, if your house goes down in value, so does mine. Whatever happens, we're all in it together! This is home!

Hillsboro Gets A New Road!

According to Highland County Engineer Dean Otworth, Hobart Drive will extend by approximately 7100 feet to reach St. Rt. 73. Unanimously approved by the Highland County Commissioners. The read more click here.

Pay Less Property Tax

If you believe your property value has decreased since the market has been adjusting...so should your property taxes! To check out how to pay less property tax click here. USA Weekend has an article half way down the page.

Is the Real Estate Market as Bad as the Media Says?

The National Association of Realtors has reported that sales of existing homes rose by 2.9 percent in February. Economists were caught by surprise as they had been expecting another decline. To read more click here.

State of the Highland County Market

When someone asks me how is the real estate market, let me answer the question this way. It's not as bad as the media would indicate! Locally in the Highland County, houses are selling! Interest rates are at record lows and great loan programs are available, which means that if you are going to borrow money do it now! You can buy more house for the money now than 10 years ago! Inventory levels are high which means there are plenty of quality homes to pick from and some really great deals to be had! Listen to a video by a Realtor friend of mine Sam Miller, in the Mt. Vernon area. Click here.

Ohio Home Sales Continue Cool Down

The state's largest Multiple Listing Services report that home sales throughout Ohio slowed in November. Overall performance of the 2006 market has been strong despite less than ideal conditions.

Favorable interest rates, a solid supply of housing in all price categories and improving housing affordability is providing a solid foundation upon which would-be buyers can become home owners.

The statistics (data provided to OAR) show there was a slight decrease in statewide sales of new and existing homes last year (Jan. - Nov.) as well as a slight decrease in the state's average sales price.

Patrick O'Neil, president of the Ohio Association of REALTORS, states that "at some point the housing market was going to return to levels that are typical by historical standards in the Buckeye State....and this past year provided that opportunity."

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Foreclosures Rising in Highland County

A recent article regarding Foreclosure Rates in Highland County appeared in the Times-Gazette. This is a topic of which to take note as it impacts all buyers and sellers within the real estate market. As the article states, Highland County is following a statewide trend of rising foreclosure rates. Reasons for this trend are numerous....to read more click here.

If you are thinking of buying or selling a home in Highland County, visit my website to view all real estate listings, get the current market value of your home and more.

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Top Tips For Selling A Home During The Holidays

-Consider potential buyers spiritual backgrounds in your market before decorating for a holiday.
-Minimize holiday decorations to keep focus on your home and its features and benefits.
-Less is more when decorating a home for the holidays while you are trying to sell. Streamline the amount of holiday specific decorations you display.
-Christmas trees and other large holiday decorations consume space that might make rooms appear smaller.
-Install and remove exterior holiday decorations 2 weeks before and after holiday.
-Turn off lighted holiday decorations before showings, buyers should focus on your home and not your decorations.
-If you are having out-of-town house guests, ask your agent to postpone showings until after your guests depart.
-Leave out a plate of home-made holiday treats for potential buyers.
-Display summer photos of home and gardens to inform buyers of the features of the home in other seasons.
-Before showings remove snow, ice and leaves from walkways and driveways. Don't overlook outside entrances to basements, garages, and porches.
-If you plan to close the purchase or sale of a home near a holiday, check with your agent, title, company and lender to verify two business days before closing that they have all the required documents and funds have been wired to complete the transaction.
-If you are closing on your new home, select a mid-week day, early in the day, to schedule your closing time, to accommodate last minute delays by a mortgage loan processor, insurance or title company.
-If you plan to move during the holidays, keep in mind that moving companies will require more notice and could charge additional fees for packing, moving and delivering household goods on week-ends and holidays.

Thinking of buying or selling Highland County real estate? Visit my website to view all real estate listings, get the current value of your home and more.

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Should You Try to Sell Your Home During the Holiday Season?

A common misconception is that trying to sell a home during the holidays is a bad idea. If you are serious about selling, it can be an excellent time to list. During the holidays buyers are more serious. They have a different motivation like using vacation time to search for property. They're doing that because they have to buy, rather than want to buy. Remember Thanksgiving and Christmas is one day a piece not two months.

10 reasons why you should list your home during the holidays

1. Most November and December buyers are particularly serious and very likely facing some sort of deadline.
2. January is the biggest transfer month of the year and job transferee’s use the holidays to house hunt.
3. Many people want to buy before the end of the year for financial and tax reasons. Investors usually want to close escrow by year-end for tax purposes.
4. Most sellers wait until spring or summer to list their home. This means that during the winter months your property will have far less competition versus any other time of the year.
5. Homes show well when decorated for the holidays creating a sense of family and people are much more emotionally drawn to the house, emotion sells.
6. Many people take vacation around the holidays allowing more time to look for a home.
7. Remodeling, decorating, appliance installation and other services are more available and at less of a premium.
8. There is plenty of mortgage money available for buyers.
9. Lenders aren't as busy and can process loans faster.
10. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.

Thinking of buying or selling Highland County real estate? Visit my website to view all real estate listings, get the current value of your home and more.

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