The Top 10 Tips to Increase the Value of Your Home are:
- 10: Purchase new windows! They not only add to the value of your house, they help you save money by keeping your home more energy efficient.
- 9: Bring your family room up to date, by adding enough room work out with the Wii! Get some exercise in your home theatre room — a feature potential buyers will love!
- 8: Spruce up the insides of your kitchen drawers by adding rollout trays and other organizers. Save some space, and make them more attractive to buyers.
- 7: Consider investing in a power generator, to keep the light on, when the electricity goes out!
- 6: Do a ‘floor space audit’ in your home. Look for square footage that isn’t being used, or used well, and try to put it better use. With some drywall and a bit of imagination, you can add a new room at little cost.
- 5: Add a deck! One of the best ways to add value is to create a brand new room outdoors! And just think, your grille will love you for it.
- 4: Upgrade your garage door opener to a keyless touchpad entry system to provide a bit of convenience and high-tech flair!
- 3: Fix up that basement. Whether you do a whole renovation or just a coat of paint, it make a big difference in the value of your home.
- 2: Consider using that attic space for more than just storage, by adding a room. You’ll see a big return on your investment, there.
- 1: Update your light fixtures – a small cost, for a big return!
Find out the Market Value of Your Home.
Jan 2010 - Real Estate Market Reports for Westlake, North Olmsted, Elyria, Fairview, Bay Village, Grafton, Avon, Wellington, Lorain & Cuyahoga Co. according to data gathered from NEOHREX(Northeast OhioReal Estate Exchange):
Westlake: Jan 2009 Sold 12 Average Sale Price: $165,575
Jan 2010 Sold: 16 Average Sale Price: $254,369
Active: 311
Pending: 22
North Olmsted:Jan 2009 Sold: 7 Average Sale Price: $103,057
Jan 2010: Sold: 10 Average Sale Price: $83,060
Active: 214
Pending:17
Fairview Park: Jan 2009 Sold: 6 Average Sale Price: $143,500
Jan 2010 Sold :4 Average Sale Price: $119,875
Active: 104
Pending: 15
Bay Village: Jan 2009 Sold: 11 Average Sale Price: $219,841
Jan 2010 Sold:6 Average Sale Price $150,900
Active: 113
Pending: 21
Avon: Jan 2009 Sold: 2 Average Sale Price: $223,000
Jan 2010 Sold: 7 Average Sale Price: $332,043
Active: 173
Pending: 18
Elyria: Jan 2009 Sold 24 Average Sale Price: $59,210
Jan 2010 Sold 16 Average Sale Price: $$64,769
Active: 453
Pending:46
North Ridgeville:Jan 2009 Sold: 13 Average Sale Price: $113,242
Jan 2010 Sold:13 Average Sale Price $146,533
Active: 227
Pending: 26
Grafton: Jan 2009 Sold: 4 Average Sale Price: $128,900
Jan 2010 Sold: 3 Average Sale Price $106,867
Active: 62
Pending: 1
Wellington: Jan 2009 Sold: 2 Average Sale Price: $96,250
Jan 2010 Sold: 1 Average Sale Price:$145,215
Active: 64
Pending: 4
Lorain County: Jan 2009 Sold: 150 Average Sale Price: $77,518
Jan 2010 Sold: 70 Average Sale Price $145,215
Active:2152
Pending: 205
Cuyahoga County:Jan 2009 Sold: 654 Average Sale Price: $84,314
Jan 2010 Sold:472 Average Sale Price $122,173
Active: 9094
Pending: 939
High inventory, low rates, 10% government refund make this the best time to buy.
Begin your Dream Home Search today. When it comes to real estate - Linda Listens!
FHA Changes for Homebuyers
FHA Changes . .Effective date April 5, 2010 – . . .
Waiting a few extra days or weeks to purchase a home this spring could
cost buyers thousands of extra dollars as the Office of Housing and Urban
Development (HUD) implements several changes for loans guaranteed by
the Federal Housing Authority (FHA). Coming just weeks before the April 30
deadline for the home buyer tax credit, these FHA changes make it even more
important to act now to save big!
The following revision will take place April 5.
Mortgage insurance premiums will increase from 1.75 to 2.25 percent.
Example: For a borrower purchasing a $200,000 home with a $7,000 down
payment, the up-front mortgage insurance will increase by $965,
so the impact to a monthly payment will be minimal—but overall,
the increase is still borne by the borrower both up front and monthly.
Let me help you find your new home now before the FHA
rules change and the home buyer tax credit expires.
Call me today 440-477-1841 and we’ll find just the right home for you, while saving money under the current guidelines.
Thank you, Liz Schneider, for clarification on this date.
Get FREE list of Foreclosed Homes Ready For Sale on Cleveland's west side and Lorain County.
When it comes to Real Estate . . . Linda Listens!
Buyers need to know - FHA announced changes:
1. Up front mortgage insurance to go up from 1.75% to 2.25%
2. Raise credit score requirement
3. Max seller concessions to be decreased from 6% to 3%
There is no confirmation on a specific date yet, but these chanages are expceted to take effect this Spring. Please find below article from CNBC on these changes.
FHA Boosts Insurance Premiums to Cushion Defaults In a move to shore up the FHA's beleaguered balance sheet, Commissioner David Stevens on Wednesday announced big changes at the government mortgage insurer that now backs about half of all home loans to the nation's minorities._ http://www.cnbc.com/id/34947047/
Dream Home Finder
When it comes to Real Estate … Linda Listens!
Home Buyer Tax Credit
Housing prices are right, the housing inventory has much to offer and with the extension and expansion of the home buyer tax credit now is an ideal time to buy a home. In case you haven’t heard, Congress has passed new legislation that:
-- Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
-- Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
The following is some basic information from the National Association of Realtors® (NAR) how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies for the Extended Credit?
-- First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
-- Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by two additional factors:
1.) The price of the home. Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
2.) The buyer's income. Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
If you have specific questions or need additional information, you may contact a tax professional or the Internal Revenue Service at 800-829-1040 .
When it comes to Real Estate . . . Linda Listens!
Dream Home Finder
Low interest rates and Buyer Tax Credit make now the best time to buy your next home.
Buyers Tax Credit is now available for ‘move-up’ buyers and 1st time homebuyers. Take advantage of the Buyers Tax Credit before it expires.
For instance, as you qualify you may purchase this Wellington 3 bedroom home for $94,000 with monthly payments of $376 and you receive $8000 back at tax time.
($94,000.00 sale price,
est: $375.46 prin & int/month
Assuming 20% down and 30 year mortgage at 4.3750% interest rate (APR: 4.551%)
as provided by Russell's preferred lender American Midwest Mortgage Corporation**Some restrictions apply)
If you’re ready to step into your next home, call me 440-477-1841 and I’ll be with you every step of the way to help you have a successful move.
When it comes to Real Estate … Linda Listens!
Find your Dream Home here.
What’s Happening in Today’s 2010 Westlake Ohio Real Estate Market?
As of 1/11/10, In the Westlake, Ohio Real Estate Market, according to Normls (Northern Ohio Regional Multiple Service), including single family homes and condominiums, there are:
· 301 Active Listings – Average List Price = $316,422
Average # of days on market is 152
· 8 of which are Contingent Listings
· 18 Pending Listings – Average Price = $318,489
· 10 Expired Listings since the first of the year
· 4 Withdrawn Listings since the first of the year
· 1 Temporarily Off-Market Listing
· 5 Sold Listings since the first of the year
Average Sold Price = $261,980 Average # of days on market is 146
In the entire year 2009, according to NORMLS, there were 336 single family sold. The average sold price was $248,625.
In 2008, there were 314 single family homes sold while the average price was $241,476.
In the Westlake real estate market, it’s a great time to contact Linda Gray to buy a home or sell a home.
Find Westlake Houses for Sale List My Westlake Home
When it comes to Real Estate … Linda Listens!
What a difference the past decade has made in real estate marketing!
10 years ago the top methods of marketing a house were ‘for sale’ signs planted in the front yard, newspaper ads and open houses. Hardly anyone thought about viewing homes on the internet.
Today, almost all buyers begin their home search online where they find everything they need. From the privacy of their own home they can now do a free search of the MLS to find property listings in all neighborhoods. Buyers are able to view multiple photos of each property to get a better sense of the home before making a personal visit. Community information and mapping features lead right to the address to allow buyers to drive-by their top choices at their convenience.
Did you know the median age of homebuyers now is 39 - same as it was in 1999. But the difference now is an increase of single people purchasing homes. Of the homes purchased last year most buyers were married couples. While single men purchased 7% of the homes in 1999, they purchased 10% of all homes last year. 21% of all homebuyers in 2009 were single women – up from 15% 10 years ago.
If you are thinking about making a move, you can begin by visiting www.lindaAgray.com where you can search homes in the Northern Ohio MLS on your own or sign up to have newest home listings emailed directly to you as soon as they hit the market.
Remember, now through April 30, 2009 there are great tax breaks for for 1st Time Buyers as well as Move-Up Buyers. The current tax incentives along with today’s low interests rates make the American Dream of Homeownership more possible than ever.
Any questions? ~Just Ask~
When it comes to Real Estate . . . LindaListens@oh.rr.com
May 2010 bring you:
Troubles that last only seconds
Giggles that last minutes
Chuckles that last hours
Laughs that last days
Smiles that last weeks
Happiness that last months
Friendships that lasts years
But most of all
LOVE that lasts a lifetime!
Happy New Year!
<a href="http://www.jacquielawson.com" target="_blank"><img src="http://www.jacquielawson.com/banners/banner1.gif" alt="Jacquie Lawson e-cards" border=0></a>
Thank You All For A Great Year!
To all my friends and clients, both old and new, I want to end this year with a huge THANK YOU to all of you. To those of you who found me online and to those of you referred your families and friends to me and to those of you who put your trust in me to guide you through your real estate transactions, I say THANK YOU. Without your trust in me, I wouldn’t be here.
So here’s to YOU and to a prosperous, joyous, grateful, wonderful, healthy New Year- Happy 2010!
Linda
Lets Say Thanks.
Xerox is doing it again this year. Good for them! This is a great idea and so easy!
If you go to this web site, www.LetsSayThanks.com you can pick out a thank you card and Xerox will print it and it will be sent to a soldier that is currently serving in Iraq. You can't pick out who gets it, but it will go to a member of the armed services. How AMAZING it would be if we could get everyone we know to send one !!! It is FREE and it only takes a second. Wouldn't it be wonderful if the soldiers received a bunch of these? Whether you are for or against the war, our soldiers over there need to know we are behind them.
This takes just 10 seconds and it's a wonderful way to say thank you. Please take the time and please take the time to pass it on for others to do. We can never say enough thank you's.
Thanks for taking to time to support our military!
So you don’t miss the great Black Friday Sales - here are the Black Friday ads to jump start your holiday shopping:
Lowes Opens 6am
Sears Opens 4am
JCPenney Opens 4am
Staples Opens 6am
Kohls Opens 4am Pre-sale already started
BestBuy Open Thanksgiving Day 2am / Black Friday 5am
If your favorite store isn’t listed, check out more Black Friday ads here .
Happy Thanksgiving!
Move Up Buyers Tax Credit
Move Up Buyers are now included in the newest Tax Credit legislation.
Tax Credit is Not just for 1st time buyers anymore. Existing Homeowners who plan to
Move UP/Move Over/ Move Down
This new $6,500 tax credit is for YOU !
YES, the new expanded tax credit legislation now says,
“ long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500” ($3,250 for a married individual filing separately)
· IF - you purchase (enter into contract) your replacement home between Nov 7, 2009 and April 30, 2010 and close by June 30, 2010
and
· IF –you have lived in the same principal residence for 5 consecutive years during the previous 8 years
and
· IF- Price of new home is under $800,000
and
· IF- your income is under $125,000 for individuals or 225,000 for couples
As the buyer you DO NOT repay the tax credit, if you occupy the home for 3 years or more. However, if the property is sold during this three-year period, the full amount will be recouped upon sale.
So, do you qualify?* I thought you might!
Now let’s go home shopping. Call me to begin your new home search. 440-477-1841
Here is the government website that describes the extended and expanded tax credit. http://www.irs.gov/newsroom/article/0,,id=204671,00.html It now also includes homeowners who have been in their home for at least 5 years and who want to buy a new residence.
*As always, consult your tax advisor for your own particular situation or contact the
Internal Revenue Service at 800-829-1040.
Home Buyer Credit EXTENDED and EXPANDED!
Here it is….the news we have all been waiting to hear….
the ‘first time home buyer’ $8000 tax credit will be extended…and….
you will love this….to now include..
MOVE UP BUYERS.
Of course, you need to be aware of some rules:
Effective 12/01/2009, the Federal Tax Credit Program has been extended.
The notable aspects of the Bill include:
- The Tax Credit for 1st time buyers is still 10% of the purchase price with a maximum of $8,000.
- No repayment is required as long as the buyer lives in their home as their primary residence for at least 3 years.
- They have added a credit up to $6,500 for repeat buyers. They must have owned and lived in their current home as their primary residence for at least the past 5 consecutive years.
- Income limits have been increased. The limit for a single filer is now $125,000 and $225,000 for joint filers (previously $75,000 and $150,000).
- A reduced credit is available to single filers with incomes of $145,000 or joint filers up to $245,000 in income.
- Homes must cost less than $800,000.
Home buyers must sign a Purchase Agreement no later than 04/30/2010 and they must take title no later than 06/30/2010.