Just Announced

Fannie Mae is offering up to a 3.5% in closing cost assistance for owner-occupant buyers for a very limited time!  

In order for the transaction & buyer to qualify, the following requirements must be met:

• Buyer and/or Buyer's Agent must request the incentive at initial offer submission
• Initial offer must be made on/after February 14, 2014 and on/before March 31, 2014
• Property must be in active First Look period
• If an offer was made before February 14, the buyer is not eligible for the incentive
• If buyer/buyer's agent bust out of the existing offer to submit a new offer in order to be eligible for the incentive, the incentive will not be offered
• Property sale must close on/before May 31, 2014
• Owner occupants who will reside in the property as their primary residence and public entities may receive the incentive. Pool, auction sales and in tenant occupied properties are not eligible for this incentive

Eligible properties are noted on www.homepath.com. If the property is eligible for the incentive, the property will show a sales incentive icon on the property detail page with a link to the incentive flyer for 3.5% closing cost assistance.

Click on the '1 attachment' link below for a copy of the incentive flyer.

Have questions about this program?  Want to find out which local listings are included in this program?  Contact Us for assistance.

5120 Raspberry off of County Line Road in Austintown is truly a great buy for someone who wants carefree one-story living and a house they can just move right into . . . it doesn't even need cleaned!

It's in Austintown Township, has a Mineral Ridge mailing address, and residents can attend either Austintown or Weathersfield Schools.

Check Out The Full Property Details

The property has 1,350 impeccable square feet of living space on the first floor, vaulted beamed ceilings in the kitchen and great room, and wide-open full basement with lots of possibilities.  Here are some of the things the seller did after she purchased the property in 2009.

First, a pre-approval letter is not the same as a pre-qualification letter.  A pre-qualification letter can be generated in a few minutes by calling a lender, or on line, and is based on information you provide and a quick credit check.  A pre-approval letter, on the other hand, requires verification of income, employment and financial information.  It is an actual approval of you, the buyer, subject to the property meeting lender appraisal guidelines. 

A lender is not bound by the pre-approval letter, but as long as your financial condition does not change in an adverse way, or the time commitment has not lapsed, it is deemed dependable.  Note that interest rates could change too, which may affect the terms of the pre-approval . . . good or bad.

Why is a pre-approval letter a must?

More good news . . .

The Ohio Association of REALTORS reported that the number of single-family homes and condos put under agreement in the state of Ohio in July rose for the 27th consecutive month compared to the results from the prior year.

Read the full article here.

Real estate agents are pretty busy these days as the real estate market in Mahoning County continues to improve.  Some meaningful statistics from the Monthly Market Indicators report, comparing year-to-date June 2013 to June 2012:

• Pendings + 11.4%
• Closings + 14.4%
• Days on Market went down from 150 days in June 2012 to 119 in June 2013, a 20.8% decrease
• Median Sales Price + 5.1%
• Average Sales Price + 6.1%, from $94,996 in June 2012 to $100,794 in June 2013.  It's been a while since our average sale price exceeded the $100K mark
• Inventories remain low, with only a 7 month supply of homes currently on the market

To read the full report, click on the attachment link below this post.  

Report provided by the Youngstown Columbiana Association of REALTORS®.