Central Ohio Real Estate News

Report: 90% of Properties Now Have Equity

noreply@blogger.com (Teresa Butler) — Mon, 22 Jun 2015 20:57:00 +0000

Report: 90% of Properties Now Have Equity

The Richest Town in Every State - In Ohio -- Powell

noreply@blogger.com (Teresa Butler) — Mon, 22 Jun 2015 20:56:00 +0000

The Richest Town in Every State - In Ohio -- Powell

January Market Trends

noreply@blogger.com (Teresa Butler) — Fri, 30 Jan 2015 00:10:00 +0000

January Housing Trends. Get the latest market trends and real estate news for your area. Gain knowledge to help you make good housing decisions. http://teresabutler.housingtrendsenewsletter.com/

A Snapshot of Mortgages

noreply@blogger.com (Teresa Butler) — Fri, 21 Nov 2014 19:43:00 +0000

A Snapshot of Mortgages

5 Real Estate Predictions for 2015

noreply@blogger.com (Teresa Butler) — Thu, 20 Nov 2014 20:17:00 +0000

Expect the home-purchase market to strengthen along with the economy in 2015, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for November.

“The good news for 2015 is that the U.S. economy appears well-poised to sustain about a 3 percent growth rate in 2015 — only the second year in the past decade with growth at that pace or better,” says Frank Nothaft, Freddie Mac’s chief economist. “Governmental fiscal drag has turned into fiscal stimulus; lower energy costs support consumer spending and business investment; further easing of credit conditions for business and real estate lending support commerce and development; and consumers are more upbeat and businesses are more confident, all of which portend faster economic growth in 2015. And with that, the economy will produce more and better-paying jobs, providing the financial wherewithal to support household formations and housing activity.”

Freddie Mac economists have made the following projections in housing for the new year:

Mortgage rates: Interest rates will likely be on the rise next year. In recent weeks, the 30-year fixed-rate mortgage has dipped below 4 percent. But by next year, Freddie projects mortgage rates to average 4.6 percent and inch up to 5 percent by the end of the year.

Home prices: By the time 2014 wraps up, home appreciation will likely have slowed to 4.5 percent this year from 9.3 percent last year. Appreciation is expected to drop further to an average 3 percent in 2015. “Continued house-price appreciation and rising mortgage rates will dampen affordability for home buyers,” according to Freddie economists. “Historically speaking, that’s moving from ‘very high’ levels of affordability to ‘high’ levels of affordability.”

Housing starts: Homebuilding is expected to ramp up in the new year, projected to rise by 20 percent from this year. That will likely help total home sales to climb by about 5 percent, reaching the best sales pace in eight years.

Single-family originations: Mortgage originations of single-family homes will likely slip by an additional 8 percent, which can be attributed to a steep drop in refinancing volume. Refinancings are expected to make up only 23 percent of originations in 2015; they had been making up more than half in recent years.

Multi-family mortgage originations: Mortgage originations for the multi-family sector have surged about 60 percent between 2011 and 2014. Increases are expected to continue in 2015, projected to rise about 14 percent.

Source: Freddie Mac

5 Real Estate Predictions for 2015

Smaller Homes Mean More First-Time Buyers

noreply@blogger.com (Teresa Butler) — Thu, 20 Nov 2014 20:01:00 +0000

The size of the typical home is shrinking, which may be a sign that a wider array of buyers, including first-timers, are returning to the market. The median size of a single-family home has decreased for the past two consecutive quarters, and it will likely continue to go down as more first-time buyers look to purchase, according to the National Association of Home Builders.

The median size of a single-family home dropped 2.3 percent in the third quarter over the previous quarter, falling from 2,472 square feet to 2,414. That marks the smallest size since the fourth quarter of 2012.

Home sizes were on the rise coming out of the recession, mostly due to a surge in the luxury market, NAHB notes.

“Typical home size falls prior to and during a recession as some home buyers cut back, and then sizes rise as high-end home buyers — who face fewer credit constraints — return to the housing market in relatively greater proportions,” NAHB notes on its blog, Eye on Housing. “This pattern has been exacerbated in the last two years due to market weakness among first-time home buyers.”

But the decline in square footage now indicates that entry-level buyers are on their way back.

The latest drop in the median home size “doesn’t reflect changes in preferences, necessarily. It reflects who’s buying new single-family homes,” Robert Dietz, an economist with NAHB, told The Wall Street Journal.

Indeed, building giant D.R. Horton Inc. posted a 38 percent surge in sales orders in the fourth quarter, attributing most of those gains to its new Express brand homes that are priced at $200,000 or less.

“I do know that bigger houses are not as in-demand as smaller houses unless you’re in a community where you’ve tapped into a niche,” notes Brian Johnston, COO of Mattamy Homes, a Canadian builder that operates in four U.S. states. “We would definitely be seeing more affordable product as the trend line.”

Source: “Single-Family Home Size Leveling Off as Market Recovers,” National Association of Home Builders’ Eye on Housing Blog and “Could the Decline in Median New-Home Size Herald Return of Entry-Level Buyers?” The Wall Street Journal

Smaller Homes Mean More First-Time Buyers

November Real Estate Newsletter

noreply@blogger.com (Teresa Butler) — Thu, 20 Nov 2014 01:04:00 +0000

Get the latest Real Estate news, Thanksgiving tips, recipe and more!

Download now.

November Real Estate Newsletter

Millennials: How to make your home ownership dreams a reality

noreply@blogger.com (Teresa Butler) — Wed, 19 Nov 2014 03:07:00 +0000

(BPT) – Owning a home is part of the American Dream, yet standards on income, credit and debt are making it tougher to buy a home than it was 10 years ago. Even though requirements are relaxing, only three out of five borrowers get approved.

While stricter standards make it tougher for young families to qualify for a mortgage, millennials said they understand why these standards exist and think the tougher requirements won’t stand in their way of buying a home, according to a new survey commissioned by loanDepot.

In fact, millennials today are serious about doing what’s required to get a mortgage. The research surveyed 1,000 millennials who don’t own a home and found 35 percent plan to buy within five years. What’s more, millenials are taking steps now to turn their dreams into a reality by getting their credit in order, paying down debt and saving for a down payment.

“Income is a key to opening the doors of homeownership for millennials, and they’re more than committed to it; they’re actively planning for it,” says Anthony Hsieh, chairman and chief executive officer, loanDepot LLC. “Our improving economy is making it practical for millennials who want to own their own homes in a few short years to get ready now. Their strong desire to become homeowners, coupled with the commitment of getting their finances in order, suggests a renewal in first-time buyer demand may be possible if we sustain necessary economic and market conditions.”

With their prospects improving as the economy picks up, millennials are forming households faster and making more money compared to a few years ago. One in three millennials said an increase of 15 percent or less in income will be enough to turn them into homebuyers, a significant proposition for the economy.

Because mortgage lenders use debt-to-income to evaluate a borrowers’ ability to repay a loan, student debt is a growing burden on millennials interested in financing a home. Unlike medical debt, student debt carries an equal weight to credit card debt. Nearly half of those surveyed said it’s unfair to weigh both types of debt equally.

As for the tougher requirements to getting a mortgage, millennials do think the tougher standards guard against risky loans and will help prevent another mortgage crisis. More than half say making it easier to get a mortgage will result in more foreclosures.

If you have student debt and want to buy your first home, here are a few ideas and tips to help you prepare:

* Lower your debt-to-income ratio (DTI). DTI is your total monthly income as compared to your total monthly debt payments. Most lenders will only lend to you if your DTI is at or below 43 percent. So to lower it, try to increase your income by pursuing a promotion or raise, finding a higher-paying job or taking on part-time work. Decrease your required monthly debt payments by refinancing or consolidating student loans and paying down any credit card balances.

* Get your credit score in order. Analyze your credit report before you start the home buying process. Dispute incorrect derogatory information and ensure all three credit-reporting bureaus list all of your positive information. Pay all your bills on time, reduce credit card balances to 30 percent of the credit limit or lower, and don’t open new credit cards if you already have a few.

* Save for a down payment. Make a budget for each month before it starts, with a plan for spending and saving, and stick to it. Stash away extra money from bonuses, overtime or financial gifts on your birthday or holidays. Find a roommate to help pay your rent or move into a less-expensive rental. Do freelance or contract work on the side. Sell unneeded stuff on Craigslist.

Millennials: How to make your home ownership dreams a reality

The importance of maintaining family traditions through the holidays

noreply@blogger.com (Teresa Butler) — Wed, 19 Nov 2014 02:53:00 +0000

(BPT) – Holiday celebrations are a time for family, food, and fun. Part of what makes each holiday a special occasion are the family traditions that are celebrated and passed down each year.

Research shows traditions are important to families because they build strong relationships between generations. Because these customs are so cherished, children often remember these special experiences from the holiday season more than the toys or gifts they receive. Additionally, traditions can teach children about important values like family and community.

Here are a few reasons why traditions matter and how they create lasting memories:

* Traditions bring people together – There’s nothing like preparing a holiday recipe that’s been handed down from one generation to the next. It’s a wonderful time to reminisce about how the recipe brings back fond memories of holidays past while at the same time creating new memories as you prepare and enjoy the dish with the help of family and friends.

“Traditions are an important part of celebrating the holidays,” says Marnely Rodriguez-Murray, of the food blog Cooking with Books. “Many of them revolve around special-occasion food – and those familiar tastes and smells have the ability to bring families of all shapes and sizes together.”

* Traditions can evolve over time – As families change, so do traditions. Embrace these changes by creating new traditions or refining old ones. You can help make the holidays more special and memorable by giving others a chance to make suggestions for starting new and improving existing traditions.

“Millions of family traditions include sharing Hickory Farms gifts filled with signature sausages and cheeses before a holiday meal, when entertaining or while unwrapping gifts,” said Rodriguez-Murray. “This year, start a new one by secretly dropping a piece of their new Signature Chocolate Collection into someone’s hot cocoa when they aren’t looking. They’ll be both surprised and delighted.”

Available at www.hickoryfarms.com and at Hickory Farms Holiday Market locations nationwide, these products can become a new family holiday tradition.

* Traditions are just plain fun – Traditions produce long-lasting memories for everyone, like the annual family Thanksgiving football game or everyone opening their matching pajamas on Christmas Eve, because they have the ability to make people laugh and smile. What’s more, these joyful traditions give family members something additional to look forward to each and every year. The repetition of these moments over time builds anticipation as each holiday season returns, enhancing the excitement, joy and fun for all.

Make this holiday season special by creating and preserving family traditions that will last a lifetime.

The importance of maintaining family traditions through the holidays

Rush to Buy Homes During the Holidays?

noreply@blogger.com (Teresa Butler) — Tue, 18 Nov 2014 20:26:00 +0000

Home owners may be doubtful that the months of November and December will bring about a home sale. After all, aren’t potential buyers sidetracked with the holidays and likelier to postpone their house hunt due to bad weather and shorter days?

But sometimes the “off-peak” time to sell can actually be the perfect moment for sellers. Several studies show that, on average, homes listed in November and December are more likely to sell, sell more quickly, and more closely approach the asking price, according to an article at Forbes.com.

A 2011 study conducted by realtor.com® found that 60 percent of real estate professionals advise their sellers to list a home during the holidays because they believe it’s an opportune time to sell. Nearly 80 percent of the real estate professionals surveyed said that more serious buyers emerge during the holidays, and 61 percent say less competition from other properties makes it an ideal time to sell.

Thanksgiving is particularly good, the article notes. Buyers may have held out through the busy summer months hoping to find a better deal, but now they may be searching with increased urgency. Some buyers may be motivated to close before the end of the year for tax purposes. They can purchase a home late in the year to deduct home purchase costs on their taxes, such as points, interest, and property taxes. Also, certain sellers who sold their homes during the summer season may be facing a capital gains tax. They may be highly motivated to buy in November to avoid paying capital gains tax (since closing on the purchase of another house is required within 180 days).

Source: “Why November Is the Best Month to Sell Your Home,” Forbes.com/Trulia

Rush to Buy Homes During the Holidays?

Commercial Development Opportunity Near Easton

noreply@blogger.com (Teresa Butler) — Tue, 04 Nov 2014 20:22:00 +0000

Located on busy road amidst commercial development. 3.75 acres available. Utilities on site. 960 sq. ft. house located on property with full basement and 2 car attached garage. Could be rehabbed for office space. Current zoning is residential. Could be rezoned for commercial use.

Near busy Stelzer and Agler Road intersection

9 miles to Easton

2 miles to I-270

75 miles to I-670

2 miles to I-71

7 miles to I-70

4 miles to Port Columbus International

Commercial Development Opportunity Near Easton

November Enjoy Magazine

noreply@blogger.com (Teresa Butler) — Fri, 31 Oct 2014 21:39:00 +0000

Download the November issue of Enjoy Magazine. Enjoy articles about food, fitness, nutrition, happenings, travel, music, lifetyles, recipes and more!

November Enjoy Magazine

October Real Estate Market Trends

noreply@blogger.com (Teresa Butler) — Fri, 31 Oct 2014 21:15:00 +0000

Get the latest market trends and news for your area. Gain knowledge to help you make good housing decisions.

October Real Estate Market Trends

6 backyard projects you can't skip this fall

noreply@blogger.com (Teresa Butler) — Wed, 29 Oct 2014 20:26:00 +0000

(BPT) – When it comes to caring for your yard, maintenance is crucial – especially during the fall when it needs to recover from the wear and tear of summer and prepare for winter’s harsh conditions. Knowing what your lawn and garden needs from season to season not only makes it easier for you to stay organized with your list of backyard to-do’s, but it also allows you to identify and treat any problems before they become bigger issues down the road.

Get your lawn and garden back in shape and ready for the coming season by completing these fall backyard projects.

1. Patch and seed – Extreme summer weather conditions like heat, excess rainfall and drought can lead to diseased or dead patches of grass throughout your yard. If you notice an affected area while inspecting your lawn, treat the problem area immediately and then reseed it. This will nourish grass, plus help it establish strong roots needed for growth in the spring.

2. Plant bulbs – Give your spring garden a head start by planting bulbs 5 to 8 inches deep, depending on the size, with the pointy end up. You can also plant bulbs in clusters. However, since bulbs can be hard to tell apart, be sure to keep the labels intact until they are planted.

3. Remove leaves and small debris – Leaves, small twigs and light dirt can quickly accumulate in your yard during the fall and if not removed, can cause soil compaction and make your yard look messy. For a quick cleanup solution, use a leaf blower to easily move debris from your lawn, driveway or patio. Opt for a blower like Troy-Bilt’s new Jet leaf blower that achieves a perfect balance of speed and volume with its mixed-flow fan design, helping you clear your yard efficiently and effectively. Jet also has an optimal weight balance, so the blower is stable and easy to control. When removing leaves, make sure they are dry and wind is at a bare minimum to ensure an easy removal process.

4. Compost – Fall isn’t too late to start a compost pile as it takes six months to one year to develop into rich soil you can use in your garden. Keep in mind, compost decomposition slows down during the cooler months, which is why it is important to retain heat needed for decomposition by refraining from turning your compost pile.

5. Prune – Pruning is considered the best preventive maintenance for your trees and shrubs, particularly in the fall and late dormant season. Look to prune diseased or dying branches, but be sure not to remove unreasonably large branches. This leaves exposed stubs that can potentially cause health problems.

6. Weed – Though a year-round yard task, it’s extremely important to pull as many weeds as possible in the fall. As cooler temperatures set in, weeds start to store food in their roots for the winter. Prevent weed regrowth by pulling or digging weeds out of the ground with a weeding blade or use a homemade weed control solution, such as a combination of vinegar, water and dish soap.

For more lawn and garden tips, backyard project ideas and information about the Jet leaf blower, visit troybilt.com.

6 backyard projects you can't skip this fall

New-Home Sales Inch to 6-Year High

noreply@blogger.com (Teresa Butler) — Wed, 29 Oct 2014 20:14:00 +0000

For the third consecutive month, sales of newly built single-family homes edged up, “demonstrating steady growth in the housing market,” says Kevin Kelly, chairman of the National Association of Home Builders. However, housing analysts caution that the sector remains fragile.

New-home sales inched up slightly by 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units—the highest level since June 2008, according to new data from the U.S. Department of Housing and Urban Development and U.S. Census Bureau. The median price of new homes in September was $259,000, a 4 percent drop year-over-year.

“We expect the housing market recovery to remain relatively gradual over the coming months,” Gennadiy Goldberg, an economist at TD Securities in New York, told Reuters.

In September, the inventory of new homes rose to 207,000—a 5.3-month supply at the current sales pace. Most economists consider 6 months a healthy balance between supply and demand. The slow-growing inventory of new homes points to builders gaining confidence in the market, says NAHB Chief Economist David Crowe.

Regionally, new-home sales rose the most in the Midwest, posting a 12.3 percent gain month-over-month, followed by a 2 percent rise in the South. Sales stayed flat in the Northeast and fell 8.9 percent in the West.

The government revised August’s reported new-home sales figures, reflecting the fact that sales actually posted a sharp decline last month, as opposed to what had been originally reported. August’s sales numbers were revised down to 466,000 units from the originally reported 504,000 units.

Source: National Association of Home Builders and “U.S . Home Sales at Six-Year High; Recovery Still Fragile,” Reuters

New-Home Sales Inch to 6-Year High

October 2014 Real Estate Newsletter

noreply@blogger.com (Teresa Butler) — Wed, 22 Oct 2014 00:00:00 +0000

Get the latest real estate news, stats,

homes for sale, recipes and more!

Download here.

October 2014 Real Estate Newsletter

From make-do to all new - updates to create your dream kitchen

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 20:03:00 +0000

(BPT) – Homeowners have spent more on kitchen remodeling than any other home improvement category in the last 10 years, according to Harvard’s Joint Center for Housing Studies – and there’s good reason. An updated kitchen does more than boost the value of your home; whether you make just a few changes or completely renovate the entire space, a kitchen that feels new is always refreshing. From basic cooking to frequent entertaining, your dream kitchen should look good and function well.

Since the kitchen is ever-evolving, so are the products available. Skip the fads and include ideas that are aesthetically pleasing and withstand the test of time. Here are a few updates that will turn your current space into the one you’ve been dreaming about.

Think sinks

When remodeling a kitchen, homeowners often overlook the sink, but it’s one element that can make a valuable style statement. While shopping for a new sink and faucet, search for the highest quality materials, like stainless steel, that are just as beautiful as they are practical.

If you’re looking for a dramatic focal point – as well as a sink that can accommodate all your pots, baking sheets and glasses – try an apron-front design. This style has been modernized, accessorized and streamlined to suit the needs of today’s homeowners. Moen also offers a stainless steel version that gives this classic a contemporary twist.

With a great number of faucets on the market, there’s a design for everyone. The timeless feel of a traditional kitchen is still the most popular. If you want the perfect mix of fashion and function, try the new Brookshire kitchen faucet from Moen, which features decorative touches and classic styling with a pullout design for at-your-fingertips water delivery. It’s equipped with the Reflex system for pulldown and pullout faucets, which offers self-retraction of the spray wand, as well as an exceptional range of motion, generous reach and secure docking retraction.

Be smart with appliances

Unlike a rug or lamp, kitchen appliances are not simple to return, so be smart when upgrading these items. Before making a purchase, it’s best to work with a professional for guidance, and weigh all factors, such as who uses the kitchen, how many people are cooking at one time and how often your family cooks.

If you’re an aspiring chef, consider a gas range that allows you to control the flame with precision. If you’re a busy mom, electric versions allow you to heat food and boil water faster. It’s also important to consider finishes – if the rest of your fixtures are brushed nickel, you may want to opt for a stainless steel range, refrigerator and dishwasher for a coordinated look.

Remember, even if a feature sounds interesting, it doesn’t mean you need it. It’s best to purchase what suits your needs and lifestyle. By making smart choices, and not splurging on unnecessary features, you’ll have the budget to spend money where it matters most for you.

Add an island

Add beauty, function and value to the heart of the home with an island. Many homeowners choose to build an island within their kitchen as a place for family and friends to gather and socialize. A multi-level design with stools on one side can provide casual seating for guests, leaving the other side available for you to prepare food or serve appetizers.

If you like to cook and entertain, you may also want a design that includes a bar/prep sink and beverage faucet – this will aid in prep and provide fresh drinking water. The SIP beverage faucet from Moen offers a coordinating style for every decorating taste. Enjoy cold, filtered water on demand, and the high-arc rotating spout allows for extra convenience when filling pitchers, coffee makers and more. For more information on Moen products, visit www.moen.com or call 800-BUY-MOEN.

From make-do to all new - updates to create your dream kitchen

Driveways to mailboxes: Oft-overlooked items that drive curb appeal

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 19:50:00 +0000

(BPT) – Selling or staying, it makes no difference – everyone wants a home that looks great from the curb. Curb appeal comes together when all the elements of a home’s facade are in good shape and working together. Driveways that are cracked or pitted with potholes, dingy front doors and other seemingly minor complaints like a shabby, scuffed mailbox, can all significantly detract from a home’s overall curb appeal.

Here is a handful of projects – many of them quick fixes – that can greatly enhance a home’s appearance.

* Repair or resurface your driveway.

For many homes, the driveway is one of the largest visual elements of the home’s overall curb appeal, ranking right up there with siding, the roof and the lawn. If winter was rough on your driveway, it’s time to think of making repairs. Concrete can crack and crumble, and asphalt develops potholes. Both can be repaired quickly and easily.

For any driveway repair, make sure the area to be repaired has been cleaned of debris and loose materials. Cleaning with a hose or pressuring washing can improve the entire surface. For asphalt driveways, Sakrete U.S. Cold Patch is a ready-to-use recycled asphalt product that permanently patches potholes, cracks and other defects without the oily mess or bad smell of a conventional blacktop patch. Simply pour the product into the pothole and tamp it down. It is not oily or sticky, so you can even use your car to do the job – just drive tires over the patch to compress it.

Concrete driveways can develop different types of cracks: very small and shallow resembling a dry river bed; cracks between 1/8 and 1/4 inch wide; and cracks wider and deeper than 1/4 inch. Your choice of repair method will depend on how you want the finished product to look and how much time you have to make the repair.

Portland cement-based Sakete Top n Bond can be used to repair all three types of cracks, and will provide a finished look that most closely resembles the existing concrete driveway. For tiny cracks, simple coat the entire area with a thin layer of the patching material. Top n Bond easily fills cracks wider an deeper than 1/4 inch. You can also use it to repair areas where one slab of the driveway has sunk lower than the slab next to it. If appearance is less important, an even easier option for repairing cracks 1/8 to 1/4 inch wide is to use a tube product, like Sakrete Concrete & Mortar Repair, and apply it with a caulk gun.

Repairing damaged asphalt or concrete driveways not only improves its appearance, it can help extend its life, too.

* Put the shine on your mailbox

It sits at the end of your driveway and often plays a key role in helping guests find your house. But do you give your mailbox the attention – and the credit – it’s due? Little things can mean a lot when it comes to creating curb appeal. While a mailbox that looks good might not get much attention, one that’s ugly or shabby is sure to draw the kind of attention you don’t want.

If you live in a community that restricts what type of mailbox you can have, simply give your rusted, stained mailbox and the post it sits on a fresh coat of paint in its original color. If your community has no standards for mailboxes, you can swap out an ordinary looking box with something that compliments your exterior design. Does your home have a brick facade? Consider a mailbox set in or on a brick pillar. If your house features fieldstone accents, consider carrying that over to the mailbox with a small, stone-trimmed planting bed at its base.

* Lavish your front door with some TLC

The door is the point where your exterior design meets your interior décor. It’s also an element that significantly impacts how visitors view your home. Give yours a fresh coat of paint or stain, and don’t forget the trim around the door.

Next, consider lighting. Is the area around the door well lit? Good lighting is key not only for safety at night but also to enhance the appeal of the area. Consider sconces beside the door or an attractive overhead fixture if your door has an awning, porch or overhang. Ground lights can accent the effect, either illuminating the pathway that leads to the door or lighting up the door itself.

Finally, take a look at the door hardware. Is the handle or knob looking rusted and shabby? Replacing worn or dated door hardware is an easy, cost-effective way to improve the overall look of your entryway.

Anyone hoping to sell their home during warmer months can greatly enhance curb appeal by investing in these seemingly minor design elements. If you plan to stay in your house, boosting the curb appeal will make you feel even better about coming home every day to a fresh, appealing house.

Driveways to mailboxes: Oft-overlooked items that drive curb appeal

Fannie, Freddie to Loosen Up on Lending

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 19:37:00 +0000

The regulator of mortgage giants Fannie Mae and Freddie Mac is reportedly working on a deal with the financing entities that will loosen up lending standards and make mortgages more affordable for those with less-than-perfect credit. The move is expected to expand home buyers’ access to financing, as tight credit the last few years has kept many sidelined.

The new rules reportedly will include a lower minimum down payment requirement (from 5 percent to 3 percent), in order for lenders to qualify to sell a loan to Fannie Mae and Freddie Mac. That would bring down payment in sync with the Federal Housing Administration, which insures loans made to lower-income borrowers and first-time buyers. Fannie Mae and Freddie Mac guarantee about 59 percent of all mortgages written.

The Federal Housing Finance Agency, which regulates Fannie and Freddie, reportedly will include more safety measures to help lenders protect themselves from making bad loans. Lenders have faced numerous high-dollar settlements after issuing loans that later defaulted. The new agreement would give greater confidence to lenders so they won’t be penalized years after a loan is made, The Wall Street Journal reports.

The potential agreement “would allow credit to flow more freely to lower- and middle-income households,” Mark Zandi, chief economist at Moody’s Analytics, told The Wall Street Journal. “That’s vital to getting the housing recovery moving forward.”

During the financial crisis, the financing giants faced steep losses as home loans defaulted. The spike was blamed on poor underwriting by lenders in ensuring that borrowers could afford their mortgages. In response, the companies, which were seized by the government in 2008, have had banks tighten their credit standards, which some critics say has gone too far and prevented many home buyers from qualifying for a home loan.

The Urban Institute has estimated that 1.2 million more mortgages would have been issued in 2012 alone if lending standards that were commonly used in 2001 were still in place.

“Understandably, after the [financial] crisis the pendulum of mortgage credit standards swung to a far extreme” Paul Leonard, California director of the Center for Responsible Lending, told the Los Angeles Times. “It’s now working its way back to a more moderate position.”

The FHFA is expected to formally announce the plans later this week.

Source: “Fannie Mae, Freddie Mac Reach Deal to Ease Mortgage Lending,” Los Angeles Times and “Mortgage Giants Set to Loosen Lending,” The Wall Street Journal

Fannie, Freddie to Loosen Up on Lending

Microwave Peanut Butter Fudge

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 02:50:00 +0000

1 lb. of Powder Sugar

1 stick of Butter1 cup of Peanut Butter½ cup of Milk Put the powder sugar in a bowl and make a little hole in center on top and put all the ingredients in it. Microwave for 1 minute then take out and stir. Then microwave another minute, take out and stir. Repeat until smooth then, pour on a buttered surface or wax paper lined dish. Chill for 1 hour. Cut and Eat!

Be Fire Smart

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 02:44:00 +0000

October is National Safety Month

Learn 6 Safety Steps to Take Now

Download the Brochure

Lynd's Apple Picking Schedule

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 02:32:00 +0000

2014 Picking Schedule for Lynd Fruit Farm

9090 Morse Rd SW, Pataskala, OH 43062 is our mailing address, but please note the following! The intersection of Morse Rd. and S.R. 310 is the area where customers should look for signage indicating where the apple picking for the day is taking place. Some days we are picking east of S.R. 310 on Morse Rd. and other days we'll be west of S.R. 310 on Morse Rd. Look for directional signage at the intersection for the variety you plan to pick!

U-Pick apple pricing: Honeycrisp & Pixie Crunch, $30 per twenty pound bag, $20 per ten pound bag; all other varieties are $20 per twenty pound bagand $12 per ten pound bag. We sell by the bag, not by weight so be sure to fill your bag!

The orchard is open the following dates from 9 a.m. - 6 p.m., weather permitting.

Please note the following dates are our best estimate. For the most recent updates check our home page under "Hot Topics at the Farm" or call our u-pick hotline, (740)927-1333 (recorded message).

October 24,25,26.........Fuji, Stayman Winesap

October 31, Nov.1,2.....Goldrush, Fuji

November 7,8,9...........Goldrush

The Terrific Tomato

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 02:29:00 +0000

Tomatoes - when eaten fresh off the vine - contain the most balanced nutrient array of vitamins and minerals of any fruit or vegetable on the planet. These are perfect for late summer salads!!! Heirloom Tomatoes are a summer's treat that are rich in vitamins C, K, A, and B-complex, as well as potassium, chromium, biotin, and beta carotene. This amazing array of nutrition makes heirloom tomatoes excellent for helping to nourish the adrenal glands, reduce stress damage, build the immune system, lower blood pressure, protect against skin damage, improve cardiovascular health, and strengthen bones. Heirloom tomatoes are also an excellent source of lycopene, a super-antioxidant, which is known to help prevent breast, pancreatic, intestinal, bladder, cervical, colorectal, lung, skin, endometrial, and prostate cancers. Heirloom tomatoes also are known to aid in the digestion of dense proteins, assist in dissolving gallstones, and purify the blood making them highly beneficial for your digestive tract and lymphatic system. Heirloom Tomatoes are often sweet and savory and at this time of year they can be found abundantly at your local farmers markets.

6 Design Trends You will See More Of

noreply@blogger.com (Teresa Butler) — Tue, 21 Oct 2014 02:25:00 +0000

Private space
Baby boomers, empty nesters, and Gen Yers are showing a preference for homes that have more private outdoor spaces, straying from the traditional “public” backyard, according to surveys. One way some builders are fulfilling this desire is by positioning the home’s architecture strategically around the outdoor space to enclose it more and allow it to be more open to the interior living spaces. They also are creating more covered outdoor spaces.

The “Super Kitchen”
Besides being a place for cooking, the kitchen is also the entertainment/conversation area in a home. Open-kitchen layouts have continued to grow in popularity, putting kitchens more front-and-center and visibly exposed to other areas of the house. Kitchen islands are offering extra seating and prep space while larger pantries are offering greater storage. “As the hub, it becomes a consumer’s dream to design these elements together with function, practicality, and flair,” the designers say.
Bigger Media Hubs
More home owners are looking for a place for their large flat-screen television. Larger television sizes are prompting more builders to realize the need for greater wall space to hang the televisions and larger entertainment rooms to accommodate more seating.

Larger Garage Spaces
If home owners had their way, garages wouldn’t be just for parking the cars. More home owners want spaces for hobbies and storage, and builders are taking notice by creating larger garages for multi-use purposes.

Home Offices
An office and den space is becoming a bigger desire among home buyers, and the location of it in the home is becoming increasingly important. Placing the home office off the entry is no longer considered the most practical location for it, but builders are experimenting with moving it closer to the “living” area, such as off the kitchen or the family room.

Two Homes in One
As multigenerational living gains popularity, builders are responding by carving out more separate spaces for several generations to live together. For example, some builders are offering semi-independent suites with separate entries, bathrooms, and kitchenettes.

Source: “14 New-Home Design Trends for 2014,” BUILDER Online

Foreclosures Back to Pre-Crisis Levels

noreply@blogger.com (Teresa Butler) — Thu, 16 Oct 2014 19:51:00 +0000

A new sign that the foreclosure crisis may largely be in the rearview mirror, new filings in the third quarter of this year were down 16 percent from a year ago — bringing overall foreclosure activity down to its level before the housing crisis, according to RealtyTrac’s Foreclosure Market Report. What’s more, default notices, scheduled auctions, and bank repossessions in September dropped 9 percent from the previous month and were down 19 percent from a year ago. That’s the lowest level since July 2006.

“September foreclosure activity was back to pre-housing-bubble levels nationwide, in large part thanks to a continued slide in bank repossessions,” says Daren Blomquist, vice president at RealtyTrac. “However, a recent rise in scheduled foreclosure auctions in many markets across the country shows lenders are continuing to clean house of lingering delinquent loans. This rise in scheduled auctions foreshadows a corresponding rise in bank repossessions and auction sales to third-party buyers in the coming months.”

While foreclosure filings fell last month, they were up slightly by 0.42 percent in the third quarter from the previous quarter. It’s a small percentage, but it does mark the first quarterly increase since the third quarter of 2011, according to RealtyTrac. The uptick was largely attributed to a 2 percent increase in default notices and a 7 percent quarterly increase in scheduled foreclosure auctions.

That proves the foreclosure crisis isn’t over in every market quite yet. Default notices in the third quarter rose from a year ago in 10 states, including Indiana (up 59%); Oklahoma (49%); Massachusetts (38%); New Jersey (19%); Iowa (12%); and New York (2%).

Lenders are taking longer to process foreclosures, too. The foreclosure process took an average of 615 days in the third quarter, up 13 percent from a year ago. That’s the longest average time to complete a foreclosure since RealtyTrac began tracking such data in 2007. The states with the longest foreclosure wait times are New Jersey (1,064 days); Florida (951 days); Hawaii (937 days); New York (902 days); and Illinois (889 days).

The five states with the highest foreclosure rates in the third quarter were:

Florida

Maryland

New Jersey

Nevada

Illinois

Source: RealtyTrac

Foreclosures Back to Pre-Crisis Levels