Joan Defenbaugh - Realtor® LGM

Open every Saturday and Sunday from Noon to 5pm.
Come see us at The Village at Powell. Corner of Seldom Seen and Liberty Roads Olentangy Schools

** You may qualify for an $8,000 First Time Home Buyers Tax Credit. Call for more information or stop in during open hours.

This Sunday, April 19th is an opportunity to get out and see some great homes that are participating in the Columbus Board of Realtors Super Sunday Affordable Housing Open House Event in Columbus, Ohio. Participating homes are priced between $100,000 and $125,000.

One of my listings is on tour from 1:00pm to 4:00pm. It's located at 5751 Sandalwood Blvd., Columbus, Ohio 43229. The home is located in Forest Park West. The price is $114,500 for this three bedroom, two full bath one story with an attached garage, three season room and fenced rear yard.

This Super Sunday Open House Event is highly advertised so you might just have some competition among some first time home buyers out there. This is a good thing!

If you want to get a jump on your competition, call CB Home Loans today and get a pre-approval so when you are out touring homes this weekend, you are ready to make an offer on your dream home. Don't leave home without it!

Hope to see you Sunday!

For a free mortgage pre-approval from Coldwell Banker Home Loans, click here.

Check the Columbus Dispatch for a list of Open Houses on Sunday. Or search here.

Contact me if you need more information on any listing and I'll be happy to email you photos, maps and information.



Joan Defenbaugh
Coldwell Banker King Thompson

614-313-4196

Columbus Ohio Real Estate Blog

Search Columbus Ohio Homes for Sale

I found this blog from a new home owner in Everett, WA. His point of view and experience with using the $7,500 tax credit for first time home buyers was interesting to me. I commented on his blog post at the bottom of his post.

The Derby Viewpoint: The 2008 First Time Home Buyer Credit: A Bit Misleading, To Say the Least

I have my own opinion about this tax credit. I just want first time home buyers to be educated on their options and choices. Now, more than ever, home buyers need to have qualified answers from knowledgeable real estate agents, tax advisors, financial planners and lenders.

Real estate agents are getting new information every day from lenders about tax credits, interest rates, new loan packages and the every-changing conditions for qualifying for a mortgage. It can be overwhelming for US to sort through the information.

I know that the media exploits the "buy now" theory, but I prefer to take the time to learn all I can so that I can educate buyers. New home buyers need accurate information so that they make the best decision for their own situation. Not everyone with good credit and a down payment should be home owners. There is more to it than that.

Joan Defenbaugh
Real Estate Agent
Columbus, Ohio
Coldwell Banker King Thompson
614-313-4196 (cell or text message)
Email: joan.defenbaugh@kingthompson.com

How much house can you REALLY afford?

Just a thought...and maybe this has been mentioned elsewhere.

When lenders figure out what a person can pay for a house payment every month, they are not including the average person's monthly expenses.

Monthly expenses that are NOT considered:

• cell phone bill
• internet bill
• general electronic and computer related expenses
• larger medical insurance premiums
• nothing over the minimum required payment on credit cards (with no regard to the balance or interest rate? 
• gasoline prices (the fact that they can go up and down so easily)

These items total over $200 per month and could easily put a person over their budget for housing.

I truly believe that some of the problems people are having with making house payments involves a lack of accounting for the TRUTH about a person's finances, even though the lenders follow the guidelines.

I know that a buyer should be responsible for knowing what they can afford, blah, blah, blah, but I believe that the lender guidelines need to be revised. These ratios are not any different than when I bought my first house in 1985. We didn't have internet, cell phones or computer expenses. These are real expenses that are not going to go away.

As a real estate agent, I try to educate a buyer who is on a tight budget, but once a lender shows that they can borrow "X" it is pretty difficult to get that number to disappear.

The ratio for FHA is:

 42% of your GROSS income can be for your house payment (including taxes and home owner's insurance) and any other monthly payments that show up on your credit report.

26% of that total is for housing only. The rest is for "credit report debt."

Check back later because I will be putting together a financial scenario for those who like to see numbers. It is quite interesting and frustrating at the same time.

I would love to hear from lenders, agents and consumers about this issue. Any thoughts or more facts?

Let me provide you with most complete and up-to-date information on homes sales activity in our neighborhood - Indian Hills in Columbus, Ohio.

Click on the link below and submit your request. I will contact you promptly!




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