The National Statistics for April show that the projected home sales dipped and the median home price fell to $211,000, however that number is still up 4.4% from this time last year. The interest rate is up from 3.62% in March to 3.73% now, however still down from 3.96% in January. For more information on our local market or how these numbers affect you, please contact me at pfjohnson@kw.com.
Home Buying Happy Hour
Join me at The Pint House in the Short North to find out everything you need to know about purchasing a home while enjoying a complimentary drink and appetizers!
You will receive expert insight from Lisa Billings, a VP of Mortgage Lending and myself, a local real estate agent who would be happy to answer all of your specific questions. Regardless of what stage you are at in the home buying process we feel confident we can provide helpful information from improving your credit score and deciding on your budget to how to find the best home for you in the right area!
THE PINT HOUSE I THURSDAY, FEBRUARY 4TH I 5:30PM - 7:30PM
Please RSVP for this free event by clicking here as space is limited. We hope to see you there!!
This Month in Real Estate: January 2016
The National Statistics for January show that the projected home sales dipped, however the median home price rose to $220,000 and the interest rate is lower than in December at 3.96%. For more information on our local market or how these numbers affect you, please contact me at pfjohnson@kw.com.
A Great Time to Buy
Today’s market is great for homebuyers. If you’ve been thinking about purchasing a home, now is an excellent time to buy.
If you've been debating purchasing a home, here are three reasons to consider regarding timing:
Current lending rates are historically low and down payment requirements are as low 3.5% for FHA loans. Interest rates aren't just important for the monthly payment amount, but also because when the interest is lower the bulk of your payment is going towards your principal which is your equity and helps pay off the house faster.
The national median home price for November is $221,900 with the average interest rate at 3.79%. If you purchase a home for $221,900 with 3.5% down at the 3.79% interest rate your monthly payment of principal and interest would be $996!
If you aren't ready to purchase yet but are thinking you will in the next year or more, it is a great idea to talk to a lender and see if they have any suggestions of things you can do while you're waiting to help you get the best loan possible. Obviously increasing your income and reducing your debt is good, but credit is so important. You should have a credit card and use it, but never let a balance of more than 30% of your limit sit. If you are self employed or receive commission, typically lenders will need two years history of that to incorporate that income when considering you for a loan. For tips like this and more give me a call and I will set you up with a lender that I trust!
Once you speak with a lender and find out what purchase price you qualify for let me know and we can start looking at what kind of house that number gives you in different areas of Columbus! You can always browse listings on my site sorted by community to give you an idea as well:
This Month in Real Estate: November 2015
National statistics for November show that home sales are up, the median sales price is down and the average interest rate is even lower this month at 3.79%. All great news for home buyers! For more information on our local market or how these numbers affect you, please contact me at pfjohnson@kw.com.
