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Good news, foreclosures in central Ohio fell drastically in 2013. In the eight county central Ohio region (Franklin, Delaware, Licking, Union, Fairfield, Pickaway, Madison and Knox counties) foreclosures are nearly 15% less than the previous year. Statewide foreclosures dropped 12 percent to the lowest level since 2006.
Columbus Dispatch Newspaper: http://www.dispatch.com/content/stories/business/2014/01/16/foreclosures-fall.html
Low foreclosure rates is great news. But, overall inventory levels are now really low. It looks like the upcoming Spring and Summer season will be a real estate market that will favor Sellers and not Buyers.
HomeBuyer Advocate Mike
A home purchase is typically the largest financial transaction that any of us will encounter in our lifetime. Buying a home can be an overwhelming, complicated process with many steps and decisions to be made. Hopefully this article will help you by breaking everything down to just two simple steps to buying a home.
1. Find your agent first, not your home! Everyone loves searching for homes in their pajamas at night. But, you should actually first start researching for the best agent to represent you. There is no denying that buying a home is an emotional decision. But, typically in life, any major financial decisions based on emotion will increase your odds of making the wrong decision and possibly costing you a lot of money. When it is all “said and done”, researching for the right agent is not as fun as searching for homes but in the long run your wallet will probably thank you. “Angie’s List” is an excellent resource to help you find an agent that will be your advocate and trusted advisor in the home buying process. “Angie’s List” provides potential homebuyers with an unbiased, comprehensive database of qualified real estate agents and not just pretty pictures of houses. The most important first step to protecting yourself is not to do the process alone and have an experienced, real estate buyer broker looking out for your best interest.
2. Not all agents are the same! As a home buyer you want to find an agent that will be your advocate throughout the home buying process. You should try to contact or interview at least 2-3 real estate agents. But, not all buyer’s agents are the same. Some buyer’s agents will try to work with Sellers at the same time and be a dual agent. So, it can be very confusing trying to sort through all the different types of real estate professionals. You should make sure at least one of the agents you contact is a “true” or Exclusive Buyer’s Agent (EBA). In December 2009, The US Department of Housing and Urban Development (HUD) advised home buyers that it is their responsibility to search for a real estate agent that will represent their best interests. HUD revised the ‘Shopping for Your Home Loan – HUD’s Settlement Cost Booklet”, HUD states: “If you want someone to represent only your interests, consider hiring an ‘exclusive buyer’s agent,’ who will be working for you.” An EBA does not take listings or sell homes. EBA’s just works with Buyers, not Sellers. Buying a home is the most expensive financial decision that most of us will make in our lifetime. Don’t cut corners! Make sure you interview multiple agents and be aware that not all agents are the same. If you do this then you should end up with an experienced agent that you trust.
The home buying process can be incredible stressful and complicated. But, if you follow these two simple steps above then you will be going in the right direction to getting your new home for the best price and terms.
Good luck out there!
HomeBuyer Advocate Mike
Contact me if you have any comments or questions:
The year is finally coming to an end and 2013 is almost upon us. 2013 will mark the 18th year that Buyer’s Resource Realty Services has been representing and protecting ONLY home buyers in central Ohio. We are the oldest established Exclusive Buyer Agency in Columbus, Ohio. If you are a potential home buyer then Buyer’s Resource is your best choice. No other real estate brokerage in Columbus that represents buyers exclusively can compare to our total experience and number of client transactions (1,000+). We are dedicated home buyer advocates who always represent the best interests of the buyer. For more information you can review my Testimonials & References!
Way back in 2007, I started this blog (HomeBuyer’s Advocate!) to be a resource of important real estate information for my clients and any potential home buyers. I’ve been very fortunate that a few of my blog posts have been referenced in local newspapers and a national magazine publication (“This Old House”). I honestly don’t know how this happened because I think I have the writing skills of a junior high school student (LOL!). One of my major goals for 2013 will be to reach 100,000+ views on my blog. Stayed tuned during the next few weeks for some interesting topics and posts for home buyers. My upcoming blog posts will have timely and important tidbits of information that every home buyer should know before they start the journey of buying a home.
In 2013 I hope to continue and expand my blog as an invaluable resource for future home buyers. My vision is for HomeBuyer’s Advocate Blog to be the preeminent resource for information in Columbus, Ohio for home buyers.
Good luck out there!
Please feel free to contact me if you need help or have questions.
How do you like you the “snowy background” on the blog? I think it is very festive.
Representing People, NOT Property!
Buyer's Agent Map-Columbus, Ohio - A Beehive of Activity!
Most traditional real estate agents tend to “farm” or specialize in a certain areas or subdivisions. As an Exclusive Buyer’s Agent (EBA) I don’t specialize in certain areas. In the past 17 years, I’ve helped nearly 300 clients throughout ALL areas of Columbus, Ohio and the surrounding counties.
I’m a true Buyer’s Agent. A true Buyer’s Agent is an agent that will NEVER will list or sell a home. I specialize in only representing home buyers. My responsibility is to be an advocate & advisor for my buyer client throughout the entire home buying process.
If you are a home buyer that doesn’t want to be SOLD a home, then you need to contact an EBA. An EBA will be your advocate and always look out for your best interest. A smart home buyer’s choice is to use an Exclusive (true) Buyer’s Agent.
For more information check out testimonials: Buyer Broker Testimonials!
Good luck out there! I hope this information is helpful.
Please feel free to contact me if you need help or have questions
Representing People, NOT Property!
My Buyer Broker Advocate! 
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