Home Buying in 44077>Question Details

Malou, Both Buyer and Seller in Ohio

how's the buy and sell business in the market today? Also how the how renting? Which is more popular renting or buy & sell pls?

Asked by Malou, Ohio Sat Jan 26, 2013

Help the community by answering this question:


Both the Rental Market and the Buying/Selling Market are very busy this spring. I would say that we are seeing a little less in the Rental Market and quite a bit more in the Buy/Sell Market.
0 votes Thank Flag Link Thu May 16, 2013
Finding qualify tenants, I'm sure, is always the challenge. Especially if you have a mortgage on the property and your funds are tight.

In my opinion, buying right now is the best time! Rates are low and the pricing on homes are great (from the buyer's perspective). So if you are contemplating buying versus renting here is an example I just used to post for someone in Dublin Ohio:
--> I wrote her because she was considering renting for $2200 a month. I did some quick research
--> on rates etc and here's what I found: taxes (in that particular area) are over $500 a month, I used
--> a conservatively high figure for homeowners insurance with that, you could purchase a
-->$230,000 home and your PITI payment would still be less than $2200/mo.

So far as selling: there have been a lot of foreclosed homes sold. Yet there are still a lot of foreclosed homes sitting there waiting for the owner (HUD, FNMA, FHLMC) to be able to get through all of their legal processes in order to be able to release the home(s) to agents for sale. (The location would determine how many homes are sitting there.) However, what that means is due to a lot of homes where prices were so good, they are purchased fast. Therefore, the home(s) YOU might want to sell/flip the value will be lower. Lower value, lower purchase price.

I hope you have found this information helpful. If you're looking to buy and need help with a prequalification/preapproval, I'd be happy to work with you on it. You can call me 888-659-3848 or apply online: http://kimlawsonloanofficer.com click the big orange button "apply now" to access the secure server.

Best to you in your search,

Kimberly Lawson
Licensed Ohio Loan Officer
Phone/Fax: 888-659-3848
EMAIL: kimberly.Lawson@fpfmail.com
Licensing: NMLS: 5601 OH.LO.004495.000

First Priority Financial, Inc.
"Where Open Minds Close More Home Loans"
748 N Court St Ste 201
Medina, OH 44256
MBMB.850147.001 NMLS: 3257
We are an equal opportunity lender.
0 votes Thank Flag Link Fri Mar 1, 2013
The market is Great! We just had our busiest January in years! It's a great time to buy !
0 votes Thank Flag Link Thu Feb 28, 2013
The inventory of available homes for sale is low and the demand is moderate. There is much demand for rentals. It is a great market for investors to buy at low prices and then do some fixing up turning the houses into great rentals. Investors also have an opportunity to buy at low prices do some improvements and then selling at a profit if they buy smart and with a realtor who knows the market. New home construction is up in the zip code 44077.
0 votes Thank Flag Link Sat Jan 26, 2013
thank you very much for you advice Margie. I thought so the homes sale is low still at this point in USA. I just came from England and planning to start from a little business first.
Flag Sat Jan 26, 2013
I am not sure what you mean by the Buy and Sell business. Are you talking about "flipping" where you buy, fix up and sell? Unless you have a strong sales market that is pretty risky unless you can steal a real deal.
0 votes Thank Flag Link Sat Jan 26, 2013
Ty for your answered Ms Moore. I was talking about to buy a house or condo to remodel it and then resell it. I don't understand that. I just sold my house in England. But before I make a decision, I need to ask an advice from the professional realtor if first if this is the best for this year. Which kind of house to is best to buy for a kind of business like this. If it's a open house, foreclosed, auction, or from a desperate seller?Or My second option is to buy a smail single family house with 2 to 3 bedroom or condo and then rent it. I hope this is make sense to you now. Sorry about that.
Flag Sat Jan 26, 2013
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