Christie Peyton

The Cincinnati MLS does not allow the public detailed information, the local Realtors voted a few years ago and decided it was in the best interest of the public for a professional Realor to answer and consult questions for potential buyers and sellers. Contact your Realtor, it is his or her job to provide you all the information you want and deserve to know. If your Realtor is too busy or gives you the impression they are not able to accomadate your requests, take the time to explain your needs and wants. Your Realtor works for you and wants you to be honest with the services you want. The DOM is an easy task for your Realtor, he or she will be happy to assist you. Just ask. - Thu Mar 27 2008, 12:26

Here is the bottomline, a buyer will offer what they feel the home is worth, and a seller will either agree or disagree. Many sellers are having difficulty accepting the fact their home has dropped in value. I often hear sellers say... "if a buyer thinks my house is worth less then they will make an offer, I want to wait for an offer before I lower the price" Another issue is many sellers took second loans on their homes. A few years ago it was very easy to borrow up to 125% of the value of their property. In other words they borrowed 25% more then what their home was valued. Since appreciation has stopped or slowed in the last few years, their home is not worth what they owe. They can't advertise their home for less then they owe, unless they have access to a great deal of money to bring to the closing table. So, they are waiting for a buyer to make an offer, so they can approach the bank and ask for assistance. Sellers really want you to make an offer, they may not be happy at the 10%-15% less then asking price, but in this market any offer is better then no offer.
So, don't be shy to make an offer. The interest rates have dropped at or below 5.375%. HUD is offering special incentives for buyers and the Ohio Bond Program is offering downpayment assistance for first time buyers. Take advantage of the low home prices and the awesome interest rates. This is a buyers market and it won't last!
Please feel free to contact me if you have further questions.
Christie Peyton, Remax Result Plus
Teampeyton@gmail.com - Wed Jan 30 2008, 15:42