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Sounds simple...but is it?

Being a buyer, any buyer (first time, second or third) isn't as easy as it used to be. Most of us know that selling your house in todays market is a real chore. Therefor if you are a buyer it should be a piece of cake. Right?

Finding the house is not a very big problem. They are plentiful in most area's of Greater Cincinnati. Sellers are really willing to negotiate too. They will pay closing costs, negotiate well below the known market value and leave items of personal property not usually included in most sales. Recently one of my buyers asked for the huge screen high definition projection TV and the entire surround sound system and got it on the first round of negotiating. WOW!

   
This photo looks so simple and serene doesn't it? That is the way some purchase deals look today. You would think if you are coming to the table with a high credit score of lets say 760 or higher, have 10% down payment you wouldn't have a problem getting a loan. Not so...

I have a buyer purchasing a home for $170,000. They have 770 credit score, and putting 10 % down. Their financing is an 80-10-10. 80% first mortgage, 10% second and 10% down. The second mortgage investor rejected their application and denied the loan. They didn't have enough active credit line. Car paid off and no credit card dept. You would think that was a dream buyer. At least I did. As it turns out if they had a car loan and a couple of credit cards with balances they would have gotten the second mortgage without a hitch. Go figure!

It is about knowing the rules of the game and playing within the rules. Call me, I know the rules and I love to play the game.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Bridging the gap for extended & expanded homebuyer tax credits.

 Here is some good news. Congress and the Federal Government in agreement of President Obama has extended and expanded the buyers tax credit. These are some of the details.

For first time homebuyers the date has been extended to April 30, 2010. Therefore if you qualify as a first time homebuyer, by not have had an interest in a principal residence for 3 years prior to purchase, then you will receive a tax credit of 10% of the sale price not to exceed $8,000.00.

For details on obtaining these funds I suggest you consult a tax preparer or a certified public accountant for assistance.

The expansion of this bill is benefiting any present homeowner selling their home and moving up.

To qualify you must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years. As long as a written binding contract to purchase a different home is in effect on April 30, 2010 and close no later than July 1, 2010 you will receive $6,500.00 tax credit.

Limitations have been increased and added. Annual Income limits for buyers was $75,000 for singles and $150,000 for married couples. That has been increased to $125,000 for singles and $225,000 for married couples. The added limitation on the cost of home purchase is $800,000.

Again, For details or further questions on obtaining these funds I suggest you consult a tax preparer or a certified public accountant for assistance.

These changes are designed to enhance and improve our national home sales. The initial first time home buyers tax credit seemed to be quite successful so lets hope these enhancements make a big difference.

For more information click here: The Internal Revenue Service issued a memorandum on this subject matter.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

 

Seasons change

 
This is a beautiful picture of the Little Miami River. I just took this photo two days ago. By now more leaves have changed color and soon they will all be off the trees leaving bare branches throughout the winter months.

Along with the leaves changing color it is getting dark earlier. That makes it difficult to show property. Many buyers plan to do their looking after work. That is usually sometime after 5:00 or 6:00 PM. It is pitch dark by 7:15 these days. That leaves very little time to view homes in daylight hours.

I suggest make plans and try to work in a vacation day or work late for a couple of days and try to get off early at least once a week. That will give yourself time to spend leisurely with out rushing through. You will be able to pay attention to more detail that way. Your time investment is very important in this stage of the home purchase.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

New equipment can be a challenge

My Cannon Power Shot S60 point and shoot camera died. It was 4 years old. Time for newer technology. The one benefit of the S60 was that it came with a 28 mm wide angle lens. I hate to look at house photos on the MLS (Multiple Listing Service) and all they can fit into the photo is part of a wall and a chair. That is because the photographer (usually the listing agent) is using a standard 40 mm lens.

I searched and researched and found a terrific camera with all the latest stuff. A Panasonic DMC-ZS3. This camera is a 10 mega pixel, 25 - 300 mm wide angle to 12x optical zoom. The real cool thing about this camera is it records HD movies in stereo with an active zoom. This is tremendous for a very small hand held point and shoot. It is so automatic there are very few self settings available. It does everything automatically. And it does it well too.

I call this photo "Fresh Picked Peppers" That is what they are right out of my garden. Boy are they hot. Jalapeno, Habenero, Holy Moley, Cayenne, little Hot Chilies and Hot banana. I love it spicy and hot.

This camera can fit an entire room into a small photo. Watch for my next listing and see how much of a room will fit into my photos.

It's not just about how much content you can fit into a photo, but the lighting and staging has everything to do with a pleasing photo. This basket of peppers is a very pleasing photo. Don't you think it could be framed and hung on the kitchen wall somewhere? I did not use the flash. This is all natural. Nice mixture of colors and different shapes filling the basket just so.

Here is my segway back to a real estate topic... I like my real estate hot too. And the market is really heating up. I am now working with a full complement of buyers. From first timers planing to take advantage of the $8,000 tax credit to investors who are looking to take advantage of the buyers market and wholesale a few handyman special rehab style homes for some quick cash.

There is a deal out there for everyone. You need to know where to look and that is where my expertise comes in. I know where to find them. If they are out there I will find them.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Congratulations Kelli

I met Kelli two years ago. Owning a home was but a far reaching lofty dream for her. I suggested she at least talk to a mortgage lender and see what she would qualify for. She did and was quite surprised.

We looked at several homes and she fell in love with this home in Norwood and bought it. This turned out to be the longest pending sale of my career.

As it turned out the mortgage lending qualifications changed drastically in October 2008 and many including Kelli were caught in a catch 22. Her credit scores didn't meet the new minimum requirement just before the closing was to happen.

Kelli was lucky. She was working with understanding, motivated sellers willing to work things out with her. So they let her move into the house as a tenant until she was able to obtain financing.

A couple of months turned into almost an eternity to Kelli. In fact she was ready to give up several times. I had to assure her things were going to work out. I needed some magic about now.

Kelli was a hard worker, responsible, caring and very honest. She also was a very good trumpet player in her spare time. That is where I met her. She sat in with a few members of the West Chester Symphony Orchestra in a small dixieland ensemble for our fundraiser two years ago.

What I did was refer Kelli to Joe Frey of The Credit Store dba TR & Associates Credit Services. Joe is not a fly by night credit fixing ripoff. He is licensed with the State of Ohio Division of Consumer Finance. He will actually find discrepancies on your credit report and take the necessary measures to get the items corrected. Then follow through until your credit scores are at an acceptable number. He took Kelli from 548 to 600 in less than two months. The lender was then able to finance her with a straight FHA loan. Seller had agreed to pay up to 3% in closing costs so we were able to close on this last Friday September 11, 2009. Only a year and a month after the original closing date was negotiated.

Kelli is one happy lady. And I learned a great deal through this ordeal. I'm very glad I joined Tri-State Business Network. That is where I met Joe. And he is a miracle worker to Kelli and in my humble opinion also.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Is a final walk-through necessary?

In the contract to purchase approved by the Greater Cincinnati Area Board of Realtors Legal Counsel, on page two paragraph 10 under MAINTENANCE it explains that the Seller shall continue to maintain the Real Estate in good condition. Seller shall repair or replace any appliances and/or equipment currently in normal operating condition that fail prior to possession. That the Real Estate will be in as good condition as it is presently except for normal wear and casualty damage from perils insurable under a standard all risk policy. If prior to Closing, the Real Estate is damaged or destroyed and is not restored by and at sellers cost as it was prior to the damage, then the buyer has the option to terminate this Contract by written notice to Seller.

It further states: Buyer and Seller agree that Buyer shall be provided the opportunity to conduct a walk-through inspection of the Real Estate within 48 hours prior to closing, solely for the purpose of ascertaining that the Real Estate is in substantially the same condition as it was at the time the Contract was executed.

What does this mean?

I did a final walk-through today with my young first time buyer. Although He is a student of my class "Guide To Home Buying" that I teach at the University of Cincinnati, there is no alternative to first hand experiencing every step of the way and asking a lot of questions. You really cannot fake your way through this process.

Naturally he didn't quite know what he was to do. I led him to the utility room where the furnace was and gave him the written receipt from the HVAC company that just completed servicing it. We noted that the filter was brand new and they had placed a sticker on the unit with the date they completed the service. So I checked that required repair off my addenda list.

Then we moved to the family room and tested the window that had fallen apart during the home inspection. We asked the seller to have the window repaired to open and close properly. They agreed, they fixed it and it worked.

The seller was present, doing the final cleaning, getting ready to move the final boxes of their stuff before the closing tomorrow. She asked my young buyer if he would like a wooden corner cabinet. They had no use for it and would be willing to leave it for him it he wanted it. They also planned on leaving the oldrefrigerator in the basement for him. Both of these items worked and since he is coming from a small apartment he said "YES" and was grateful for the offer from the seller.

She continued to point out a few details on the operation of certain items and showed him where they were leaving all the manuals. It was a very good visit.

My young buyer was happy with the results of our walk-through and is ready to go to the closing tomorrow afternoon.

The above photo is taken of the front garden area of the small condo complex my young first time buyer is buying.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

What personal property is appropriate for a buyer to ask for?

Just what is personal property? Personal property are items that are not physically attached to the real estate. Items that are not personal property would be attached lighting fixtures, plumbing fixtures, Heating & air conditioning systems, carpeting, built in dishwashers and microwave ovens. Items considered personal property are not physically attached like free standing oven/ranges, refrigerators, hanging window drapes and curtains, TV's, Dining room suites, beds and dressers.

Very few personalitems are included in the sale of real estate. In fact too many items of personal property can distract from the actual value of the real estate and appraisers will ask they not be included in the sale or mark them as having no value.

The topic of personal property comes up during most negotiations. The most recent situation occurred last week. The seller offered to leave the oven/range and refrigerator. Usually included in most home sales. The buyer, however wanted the seller to include the clothes washer and dryer.

I have very strong opinions about a buyer asking for the sellers clothes washer and dryer. Have you looked inside the washing machine? Like the washer pictured here. I wouldn't put my dirty clothes in this washing machine. Believe me it looked more disgusting in person. This picture doesn't give you the true condition.

At the home inspection after I arrived, my buyer said he wanted to show me something and took me to the laundry room. He opened the door to the washer and this is what we saw. Caked gunk and grunge built up all around the exterior perimeters of the appliance.

He asked me if we could require the home owner to thoroughly clean and disinfect the washing machine before he took over ownership. I just smiled and suggested that we give the washing machine back to the owner contractually since they had agreed to leave it. Then I suggested the buyer purchase their own washer and dryer.

I think my advice was a very good idea. I didn't want to cause the buyer and seller to get into a confrontation over suchmatters. Obviously their ideas of clean and sanitary were different. Please look these items over before you ask for them to be included. Know what you are buying.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Just show me the house...I'll bring my agent later!

Did you ever wonder what it takes to be a real estate agent. I should say...a good real estate agent. It takes patience, understanding, energy, experience, knowledge and a good attitude. There are some rules to abide by but buyers and sellers are not given rule book to follow. Therefore we are teachers among the many other hats that we wear.

We also have many tools of the trade that are required for us to do our jobs. I need to carry a good flashlight, my electronic lock box key pad, my Blackberry Storm with email and Internet connectivity, and my favorite tool is my Tom Tom GPS. I have the one that says the names of the streets as you are approaching.

There are many other items we need to carry with us. Such as a copy of the Ohio State Consumer Guide to Agency Relationships to present to the customer or client upon first meeting. Except in an open house this form needs to be explained and a copy given to the prospect with their signature as proof that we did in fact explain this important document. The document spells out my responsibility to my client, in this case the seller. It also spells out the responsibiltiy of the buyers agent. It also explains how I can if I chose to represent both buyer and seller in the same transaction. I personally stay away from Dual Agency.

Whenever a prospect calls me on one of my listings I try to cordially explain my position as the listing agent and that I will be representing the seller during the showing and if it gets to that level any negotiations. That's why one of my first questions to any prospect is..."Do you have a real estate agent?" Sometimes I am met with this response. "Just show me the house, I will bring my agent later if I want to make an offer. I don't want to bother my agent right now".

I just love a challenge and this is one of the biggest we have to deal with. Then I must try to explain the ground rules. We have them, the buyers and seller don't until there is a problem. We need to try to avoid any such problems.

The rules are very simple. If you do have a real estate agent that will work with you, they will not be the bothered if you call them and ask them to help you look at and possibly buy this home. That's their job. They will represent you, the listing agent will represent the seller and everyone is happy.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

It's that time of year...get the snow blower out and get to work

   

What are neighbors for but to be neighborly? I have to admit, we have the best neighbors right here on my street in West Chester. They look out after you and are always willing to help when needed.

For example...if I forget to close my garage door, Sue across the street will not hesitate to call and remind me.

Another example is Bill, also across the street was given a very powerful Craftsman snow blower as a wedding present a couple of years ago. Whenever it snows Bill is out there with his huge machine cleaning off all the neighbors driveways. He loves doing it and we love him for it. His monster machine does in 7-8 minutes what would take me at least an hour. Thanks Bill your the greatest.

If your neighbors aren't that friendly maybe it's time you move. If you are in an apartment and can't experience this type of neighborly interaction then maybe it's time you move. Don't just go back into rent. This is the best time to buy a home.

Don't just take my word for it. Here is a link to an article that appeared in the Cincinnati Enquirer last Saturday written by the President of the Cincinnati Area Board of Realtors Mr. Paul Jacob. It is entitled Market Conditions Perfect for Home Buyers.

If you have any questions about this article or what your payments might be on a particular home for sale...please don't hesitate to call me.

Next Tuesday I begin my Winter Semester at University of Cincinnati entitled "The Guide To Home Buying". This is the perfect opportunity to learn everything there is to know about buying a home.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Happy Birthday Andrew!!!

Saturday was Fun. I went to my grandsons home to celebrate his 6th birthday. My daughter Aimee and son-in-law Dale had a great little party and Andrew was the kid of the day...all day. His sister Brianna (9) let him have his day. Besides she can beat most of us on Guitar Hero anyway.

Andrew is happy with anything from Star Wars. That is his favorite fun time escape. Star Wars Lego's, shirts, puzzles, books, games. If it has anything to do with Star Wars Andrew likes it.     

 

This is a photo of Andrew opening a gift not related to Star Wars. Actually it was a clever gift. Something to teach him about money.

Being 6 years old he got 6 quarters and 6 one dollar bills.

He seemed to like it for a moment and then went right back to the Star Wars toys. Ah yes. But some day money will mean a lot more than Star Wars toys.

Money is very important to all of us right now. Especially in the times we are experiencing. Lets hope our new president can make the changes he is promising. He seems to have most of the country behind him right now. Lets hope the change makes a difference for the better. For my grandchildren sake. And for all our kids and grandkids.

We need to start teaching them the value of the dollar. Today. Don't put it off. Let them learn to save and learn what it costs to buy something they want.

My granddaughter wanted an I-Pod Nano. She had been saving up for almost a year. Every birthday, and Christmas present with money in it she took and horded it in a safe place in her room till she had saved up enough to buy the I-Pod she wanted. And you know what...she will take very good care of that I-Pod. Much more than if someone had bought it for her. Because she saved and saved just for that. It means a lot to her to be capable of going out with her dad and buying it with her own money.

That is learning the value of money. Too many of us didn't and still don't have a clue as to the value of money. We use charge cards like it was free money.

Right now money is very cheap. The interest rates on a 30 year fixed mortgage is down to an all time low...4.875%. That is with no points. This is the time to take advantage of this great deal.

If you have thought about buying a house or refinancing for that fact ...do it now.

If you want to learn more about how to go about buying a home. You can sign up for my UC "Guide To Home Buying" class starting on February 3rd, in just 2 weeks. It is held on the campus of UC in Clifton for 5 Tuesday evenings in a row. From 6:30 - 9:00. We cover everything from how to get started, we talk about home inspections, contracts, financing, negotiating and everything including the closing. It is a must take class if you are considering becoming a home owner in the future.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.