Real Estate Information

One of the services we offer our buyer clients is a client portal.  When they begin their home search, we establish an automated search that will send them e-mails of listings that meet their criteria. 

They simply give us the details of the type of home they want.  For example: 3 bedrooms with at least 1 and a half bath, 2 car garage, a full basement, in Anderson Township and priced between $150,000 and $200,000. 

We take those details and creat an automated search that constantly monitors the MLS system and when there is a new listing or a price change on an existing listing that meets their criteria, they get an e-mail of the listing information with pictures and full details on the property.

We also establish a portal for our clients so they can log in at any time and view the listings they have been sent.  Not only can they view them, they can move them to various tabs and save the listings they like and reject the ones they don't like. 

They can add comments to the various listings and track their status.  So, if a home goes under contract, they will see the ACTIVE status change to PENDING.  Once the home closes, the status will change to SOLD and our clients will be able to see the price the home sold for and the number of days it was on the market. 

Not only does this service provide you with a way to see the latest listings but it also helps you get a handle on your local real estate market by helping you monitor the sale prices for homes in your area. 

There is no cost for this service and it doesn't take long to get it started and up and running.  I have set searches up for hundreds of clients and they love it. 

Did I mention it was FREE!!!

Call us or e-mail me your criteria and we'll get your Client Portal set up today! 

Are you a first time home buyer?  Do you think you have missed the incentives for first time home buyers now that the tax credit is over? 

Here is some good news for you.  Ohio Housing Finance Agency, (OHFA) still has some great programs available for first time home buyers with down payment assistance.   The program offers competitive interest rates and a great way to help you buy your dream home. 

If you qualify for the program, OHFA will give you a grant for 2.5% of the purchase price to help with the down payment or closing costs. 

There are credit and income requirements to qualify.  If you haven't owned a home for 3 years, you may be eligable for the program. 

The income limits to qualify vary from county to county along with the purchase price limits.  Here is an example take from their website as of July 18th 2010.

~~~~~~~~~~~~~~~~~~~~~~~~

~~~~~~~~~~~~~~~~~~~~~~~~

Here is some more information about qualifying properties:

To qualify for an OHFA loan, you must also:

• Be a first-time homebuyer—someone who has not owned or had an ownership interest in his/her principal residence in the last three years—or be a qualified military veteran. Not a first-time homebuyer or a military veteran?
• Be creditworthy. Minimum credit scores may apply.
• Have a signed Purchase and Sales Agreement for a qualifying property.
• Qualify for the loan being requested. Lenders will assess your ability to afford a home by considering income, assets, job stability, liabilities, and other criteria.

Additional property requirements:

• Properties are limited to two acres unless additional acreage is required by local health or safety code.
• Qualifying properties include:
  • Existing homes: single-family dwellings, duplexes, and up to four-unit properties
  • Spec/Nearly completed homes: one-unit single-family dwellings
  • Modular/Manufactured homes: one-unit single-family dwellings, permanently affixed to a foundation

I recently assisted a client who utilized this program.  We asked the seller of the home to pay closing costs, which they did.  They used the OHFA program's down payment assistance to cover almost all of the down payment.  With the tax credits received at closing and the credit for the earnest money they put down with the offer, this buyer received money back at the closing table. 

This can be a great opportunity for the right buyers.  If you are wanting to purchase a home and want to put as little down as possible.  This may be a good program for you.  Call us and we can put you in touch with some great loan officers familiar with the OHFA programs. 

For more information visit the OHFA website: http://www.ohiohome.org/homebuyer/first_time.aspx

or visit our website  www.jeffsmithteam.com

Don't miss out on this great mixed use investment opportunity!!

The 3 apartment units & income from parking spaces can make your payments. The retail space is a bonus!

Very solid & clean building in high car and foot traffic area

Ready for your business to move in-Can be a Money Maker. Tenants pay heat/air.

Located in the heart of Bethel, Ohio right on St Rt 125

Call Jeff Smith with RE/MAX Elite at 513-659-9645 for more information or a private showing!

CIncinnati Area Real Estate Market Update

Monthly Statistics

Average days on market still low for the month of August

Cincinnati Area Real Estate Market Update

Monthly Statistics

Average days on market drops to 76 days for the month of July.

2008 Cincinnati Area Monthly Real Estate Market Update

These figures are based off of single family home sales data from the Cincinnati MLS.

Despite the negative press you hear on the news concerning the real estate market and the changes in financing there are still good loans with good interest rates available. 

Our team manager heard a so called industry expert on the news this morning saying you cannot get 100% financing these days but that just isn't the case.  We are closing a deal tomorrow where the buyer is purchasing his first home and did not put any money down.  He is participating in an Ameridream Program.  The seller agreed to pay his closing costs and put down 3%  of the purchase price for the buyer.  The seller also agreed to pay $375 for the Ameridream Program fee.   This is a great situation for a qualified and responsible buyer.  Notice I said qualified and responsible.  This type of loan isn't for everyone.  I have noticed the underwriting for these loans has tightened up recently and I think that is a great thing.  Too many people got this type of loan previously and ended up in foreclosure. 

Also, last week I listed a home for a client and our first offer was a zero down buyer. The home is now under contract and again the buyer is not putting any money down to purchase this home.  In this case the buyer is using the Nehemiah Program that allows the seller to contribute 3% for the buyers down payment.  The seller is assisting with the closing costs and paying a $599 fee that Nehemiah charges for their program.   The buyer will not have to put any money down to buy this house, now will he have to use his money for closing costs.   How cool is that! 

Most investments such as gold or stocks require you to fully fund the transaction with 100% of the purchase price.  With real estate, you can purchase a $100,000 home with none of your money.  You can leverage other peoples money to purchase a home.  Leveraging other  peoples money is probably the strongest reason to buy real estate. 

Don't let the press scare you away from buying a home.  The interest rates are good and there are still many loan options available.Rates this past week averaged 6.62 percent for a 30 year fixed rate loan and with some shopping you can do better than the national average.  Give us a call to see if you qualify for one of these 100% financing programs.

Phone:  513-766-9099

Cincinnati Area Real Estate Market Update

Monthly Statistics

Home sales continue to increase for the  month of June and the average days on market drops to 83 days. 

With Ohio being one of the top states for the number of foreclosures, the Department of Housing and Urban Development (HUD) is offering home buyers some great incentives to buy a HUD property in Ohio.  I have seen some homes sold for very low prices and there are many opportunities still available. 

I helped a client bid on a home recently and HUD was offering $2500 for closing costs and other expenses as long as the buyer is planning to live in the home.  The incentives don't apply for investors. 

They also have a $100 down payment program available if you use FHA financing.   How great is that.  Rather than the normal 3% required for FHA, you can put $100 down and buy one of their homes. 

Many HUD homes require some TLC and some need a lot of work.  To help with the fix up costs, HUD allows you to finance the repair costs by utilizing an FHA 203K loan.  Again, this financing is not available to investors.   It must be an owner occupied home.   So don't let the fact that you don't have funds available to fix up the home deter you from buying a HUD home.  Finance the fix up costs using a 203K loan.  For more details call Dave Brumley  at McKinley Mortgage  791-2700

There are some great deals out there for the buyer that is willing to do some work and will be patient and look for a good buy.  It is crucial to get pre-approval before you can submit an offer on a HUD home. 

A few more facts about buying a HUD Home,

• Buyers that want to live in the home get 10 days to submit bids before investors are allowed to bid.
• HUD requires a earnest money to submit offers.  If the bid is 0 to $50,000 the earnest money must be $500.  If the bid amount is $50,001 - $100,000 the earnest money must be $1000.  If the bid amount is over $100,000 the earnest money must be $1500.
• Your Realtor/Brokerage has to be signed up to submit bids to HUD.  ReMax Elite is signed up and ready to help you.

If you have any questions or would like to learn more about the benefits of buying a HUD home give us a call at 513-766-9099.

VIP Buyer's Program

Benefits for our buyer clients

· Great Financing assistance We will arrange for free no obligation pre-qualification meeting with an experienced loan officer to update you on the current interest rates, new loans available and to get your pre-approved for a home loan. 

· Automated home search We will set up our automated home search system and provide you with steady and instant updates on homes as they hit the market.   You give us the criteria for the home you want and we’ll establish your buyer’s profile and start e-mailing updates.  You will have access to hot new listings ahead of  most agents.

· Proven professionals Our team of agents and staff have years of experience to help ensure a smooth transition.  We will provide you with contact information for many proven professionals in the industry such as home inspectors, appraisers, lenders, home warranty providers, etc.

· Free Home Warranty  If we cannot negotiate a home warranty, we will provide one for you as long as your home qualifies for a home warranty.

· Buyers security   If you buy a home with us and decide to move within the first six months of the date of purchase, we will  help you sell the home for FREE excluding any brokerage fees for buyers agents. 

· Any type of home  We will help you with For Sale By Owner homes, builders and new construction, homes listed by other brokerages and investment properties.  Our team has experience in all facets of residential housing

· It should not cost you anything - Because the seller or builder usually pay our fees, you should not have to pay us anything for all the services outlined above and you are under no obligation to buy or build a home.

  In return for these services, you will agree:

1)    To get pre-approval - this will  help you get an offer accepted and make your house hunting much easier.  Sellers often require a pre-approval  with an offer.

2)    Allow us to represent you whenever you see a home, new or resale, that you want to view.  Advise all other agents, builders, and For Sale By Owner’s that you are working with us and we are your agent.  If you decide to make an offer on a home, you agree to do it through us.

3)   To give us 120 days to represent you as your agent.