In real estate, continual changes and updates are par for the course. However, some developments bring about more significant shifts than others. On August 17th, 2024, a significant change will occur following a recent National Association of Realtors (NAR) settlement. If you're a buyer or seller, it's crucial to understand how this settlement may impact your real estate endeavors. This blog aims to provide buyers and sellers with a clear overview of upcoming modifications. The NAR Settlement: A Brief Overview The National Association of Realtors has long been a cornerstone in shaping the real estate industry, setting transaction guidelines and standards. However, recent legal discussions have led to a settlement that mandates new practices to increase market transparency and fairness. This settlement will be formally enacted on August 17th, 2024. What Buyers Need to Know For buyers, one of the most fundamental changes revolves around how information is disclosed during the buying process. Traditionally, buyers have relied on their agents for all pertinent details about a property, often without full clarity on the agent's commission structure. 1. Commission Transparency Starting August 17th, 2024, NAR's new guidelines will require full transparency regarding commissions. Previously, commissions were often bundled into the sale price, leaving buyers somewhat in the dark. Now, agents must provide a clear breakdown of commission fees upfront. This level of transparency empowers buyers to negotiate more effectively and ensures they understand exactly where their money is going. 2. Improved Access to Listings Another considerable change is improved access to property listings. Enhanced data-sharing agreements aim to level the playing field, making it easier for buyers to find homes that meet their criteria. This initiative means buyers should have access to more comprehensive databases, giving them a better chance of finding their dream home without redundant searches and limited information. 3. Educational Resource Finally, the settlement includes provisions for increased educational resources for buyers. From first-time homebuyer seminars to detailed guides on navigating the complexities of real estate transactions, these resources are designed to make the process more straightforward and less stressful. What Sellers Need to Know As buyers will see significant changes, sellers must adapt to this new landscape. 1. Transparency in Offers One of the most welcome changes for sellers is the requirement for more transparent offer disclosures. Sellers can now access clearer, more detailed offer sheets, including potential buyers' financial qualifications. This will enable sellers to make more informed decisions when evaluating multiple offers, reducing the risk of setbacks due to financing issues. 2. Commission Structuring For sellers, understanding commission structures will also become easier. The new guidelines mandate that agents must present all commission details openly, including any incentives that could influence their recommendations. As a seller, this empowers you to negotiate the terms more effectively and potentially save on costs. 3. Increased Market Exposure Enhanced MLS (Multiple Listing Service) integrations mean better exposure for your property. By standardizing data and making it more accessible, your property listing will have a broader reach. This effectively increases the pool of prospective buyers, thus giving your property a better chance of selling quickly and at a desirable price. Real Estate News Sector: What This Means for the Market The implications of this settlement extend beyond individual buyers and sellers. These changes signify a more transparent and competitive real estate news sector marketplace. Journalists and analysts will better grasp market dynamics, pricing trends, and the internal workings of real estate transactions. As a result, expect more data-driven reporting and in-depth market analyses. Real estate companies and professionals must adapt swiftly to these new regulations. It may take a few months to understand the full impact, but these changes will likely drive innovations in real estate transactions. Moreover, expect new tools and platforms designed to comply with the latest rules and offer additional value to buyers and sellers. The National Association of Realtors' settlement, taking effect on August 17th, 2024, is a substantial step toward a more transparent, equitable real estate market. Buyers and sellers alike stand to benefit from these changes, provided they stay informed and utilize the resources available to them. A more transparent commission structure, improved access to data, and enhanced educational opportunities are just a few of the positive shifts on the horizon. You can keep abreast of these developments to make the most out of your real estate transactions in this evolving landscape.

Tailored to Unique Financial Profiles High Debt-to-Income Ratio: Many physicians have substantial student loan debt but also have the earning potential to manage it. Doctor Loans often consider this unique financial profile, making homeownership more accessible by factoring in future earning potential. Flexible Down Payment Requirements: Given that many doctors may not have saved enough for a traditional down payment due to student loans or other financial commitments, $0 down or low down payment options are a significant advantage. Customized Terms: Physician loans often come with terms designed around the career trajectory of doctors. This can include features like adjustable payment plans, graduated payment options, or even delayed repayment starts. No Private Mortgage Insurance (PMI): Traditional loans usually require PMI if the down payment is less than 20%. Doctor Loans, recognizing the low default risk among physicians, often waive this requirement, saving doctors money over the life of the loan. Competitive Interest Rates: While rates can vary based on individual circumstances, many doctors find that these specialized loans offer competitive rates, especially when compared to other non-conventional loan types. Streamlined Approval Process: Given the understanding of a doctor's future earning potential, these loans often have a more streamlined approval process. Lenders specializing in doctor loans are familiar with the intricacies of physician compensation structures, making the application process smoother. Career Stage Consideration: Whether you're a resident, fellow, or practicing physician, there are specific loan products designed to match your career stage. This ensures that the financial product aligns with your current income and future earning potential. Let's recap...  The Doctor Loan isn't just another mortgage option; it's a financial tool crafted with an understanding of the unique challenges and opportunities that physicians encounter. By offering flexibility in down payments, favorable terms, and recognizing the potential of a doctor's career trajectory, these loans aim to make homeownership a tangible and realistic goal for medical professionals.    

Welcome to 178 Buttles Avenue, a captivating property nestled in the heart of Columbus, Ohio. With a listing price of $899,900 and a rich history dating back years, this home offers a unique blend of charm, character, and endless possibilities.Upon arrival, the property's stunning curb appeal immediately catches the eye. The spacious front porch invites you to sit back, relax, and enjoy the picturesque view of the adjacent Goodale Park. As you step inside, you'll be greeted by the warm embrace of hardwood floors, original woodwork, and high ceilings that effortlessly blend the old-world charm with modern comforts.With three bedrooms and two full baths, this home provides ample space for you and your loved ones. Each room is adorned with unique features, including seven decorative fireplaces, which serve as a reminder of the property's historic significance. These fireplaces add a touch of elegance and provide cozy warmth during cold winter nights.One of the most exciting aspects of this property is the full waterproof basement. This feature ensures that your investment is protected from potential water damage, giving you peace of mind. Additionally, the fenced-in yard leads to a rare three-car garage, offering plenty of space to accommodate your vehicles and additional storage needs.Situated on a generous .18-acre lot in the city, this property provides a private oasis amidst the hustle and bustle of urban life. The expansive yard offers endless possibilities for outdoor entertainment, gardening, or creating a tranquil retreat. Imagine spending lazy summer afternoons hosting barbecues, playing games with friends and family, or simply basking in the serenity of your own green space.One of the most enticing features of 178 Buttles Avenue is the unfinished third floor. Boasting a massive 1000 square feet, this versatile space allows you to unleash your creativity and transform it into your dream sanctuary. Whether you envision a home office, a fourth bedroom, or a luxurious master suite, the choice is entirely yours. This unfinished canvas presents a unique opportunity to tailor the living space to your personal desires and needs.As an added incentive, the seller is offering $10,000 towards an interest rate buy-down, making this property even more attractive and affordable for potential buyers. This generous offering allows you to secure favorable financing terms and reap the long-term benefits of reduced interest payments.Mark your calendars for the upcoming Open House on Sunday, June 9th, from 1 pm onwards. This is a rare opportunity to explore the beauty of 178 Buttles Avenue and envision the life you could create within its walls. Don't miss out on the chance to become a part of this historic neighborhood and experience the vibrant community that surrounds it.In conclusion, 178 Buttles Avenue is a captivating property that seamlessly merges historic charm with modern convenience. From its prime location overlooking Goodale Park to its spacious interiors and unlimited potential, this home offers a truly exceptional opportunity for buyers seeking a unique and character-filled living space. Embrace the rich history, envision the possibilities, and make this historic gem your own.

Are you looking for the perfect family home in a prime location? Look no further than 1920 Riverside Drive in Columbus, Ohio. This beautiful property, located in the highly sought-after Upper Arlington School District, is move-in ready and offers an array of fantastic features that set it apart from the rest.As you drive up to 1920 Riverside Drive, you will immediately notice its exceptional curb appeal. Nestled on a quiet, private street, this home exudes charm and invites you to explore further. Once inside, you will be greeted by an open floor plan that ensures a seamless flow throughout the house.The dining room effortlessly connects to the large, updated kitchen, making it the perfect space for family gatherings and entertaining. Whether you are hosting a holiday feast or a casual dinner party, this well-designed layout allows for easy interaction and creates a warm and welcoming atmosphere for all.The master suite at 1920 Riverside Drive is truly a sanctuary. Featuring a large walk-in closet and an updated master bathroom, this space offers the perfect retreat after a long day. Whether you want to unwind in a luxurious bath or simply relax in the comfort of your own private space, this master suite provides the ultimate in relaxation and tranquility.The property also boasts a spacious living room with a cozy fireplace, perfect for those chilly evenings. This room can be a gathering place for family movie nights or a peaceful spot to curl up with a good book. With three bedrooms and two and a half bathrooms, there is ample living space for the entire family to enjoy.In addition to the inviting interior, 1920 Riverside Drive offers an outdoor oasis. The spacious yard is surrounded by a six-foot privacy fence, ensuring that you can enjoy your outdoor space in peace and seclusion. Whether you want to host a summer barbecue or let the kids run free, this yard provides endless possibilities. The paver patio is the ideal spot for outdoor entertaining, allowing you to enjoy the beautiful Ohio weather in style.If you're not quite ready to commit to purchasing a home, 1920 Riverside Drive also offers a lease purchase option. This allows you to experience the joys of living in this prime location while having the flexibility to decide if it's the perfect fit for your family.In conclusion, 1920 Riverside Drive is the perfect family home in Upper Arlington. With its prime location, move-in ready condition, and exceptional features, this property is a must-see. Don't miss out on the opportunity to make this house your home. Schedule a showing today and discover why 1920 Riverside Drive is the ideal place for you and your family to create lasting memories.

Who Qualifies for Physician Mortgage Loans? Medical Doctors (MD and DO): Tailored loan programs designed explicitly for doctors, considering high student loan debt and potential future earnings. Dentists (DDS and DMD): Many lenders extend physician loan benefits to dentists, offering favorable loan terms and rate options. Podiatrists (DPM): Specialized mortgage programs are available for podiatrists, though it might require direct engagement with lenders to access physician loan benefits. Chiropractors (DC): While less common, some lenders do include chiropractors, but alternative loan options like FHA or conventional loans might also be explored. Optometrists (OD): Some lenders offer physician loan benefits to optometrists, but alternative mortgage programs can also be considered if not available. Veterinarians (DVM): Not limited to human healthcare, veterinarians can also benefit from physician loan programs offered by select lenders. Pharmacists (PharmD): A few specialized programs cater to pharmacists, though conventional or FHA loans might be alternatives. Physician Assistants (PA): Limited options exist currently, but with increasing demand, eligibility might expand in the future. Nurse Practitioners (DNP, NP, RN): Emerging programs cater specifically to nurses and nurse practitioners, aligning with the growing demand for such specialized loans. Physical and Occupational Therapists (DPTs, PTs, MOTs): Under the umbrella of professional or healthcare professional loans, specialized terms might be available, albeit possibly with limitations on loan size. Other Medical Degrees: This category encompasses a range of professionals like acupuncturists, medical technicians, and pharmaceutical reps. Eligibility varies by lender, necessitating research into specific requirements. Alternative Options: If specialized physician loan programs aren't accessible, several alternative loan programs such as FHA, VA, and USDA loans can provide avenues for homeownership. It's crucial to consult with a knowledgeable Realtor or mortgage broker to explore all available options tailored to individual circumstances. In essence, while physician mortgage loans were initially designed with medical doctors in mind, the evolving landscape recognizes the financial nuances of various healthcare professionals. As such, a diverse range of professionals can potentially leverage specialized loan programs to facilitate their homeownership journey. Learn more today!    

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here's what you need to know.The Federal Funds Rate Hikes Have StalledOne of the Fed’s primary goals is to lower inflation. In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn’t directly dictate what happens with mortgage rates, it does have an impact.Recently inflation has started to cool, a signal those increases worked and are bringing inflation back down. As a result, the Fed’s hikes have gotten smaller and less frequent. In fact, there haven’t been any increases since July (see graph below):And not only has the Fed decided not to raise the Federal Funds Rate the last three times the committee met, they’ve signaled there may actually be rate cuts coming in 2024. According to the New York Times (NYT):“Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation.”This indicates the Fed thinks the economy and inflation are improving. Why does that matter to you and your plans to buy a home? It could end up leading to lower mortgage rates and improved affordability.Mortgage Rates Are Coming DownMortgage rates are influenced by a wide variety of factors, and inflation and the Fed’s actions (or as has been the case recently, inaction) play a big role. Now that the Fed has paused the increases, it looks more likely mortgage rates will continue their downward trend (see graph below): Although mortgage rates may remain volatile, their recent trend combined with expert forecasts indicate they could continue to go down in 2024. That would improve affordability for buyers and make it easier for sellers to move since they won’t feel as locked-in to their current, low mortgage rate.Bottom LineThe Fed’s decisions have an indirect impact on mortgage rates. By not raising the Federal Funds Rate, mortgage rates are likely to continue declining. Rely on a trustworthy real estate expert to give you expert advice about changes in the housing market and how they affect you.

If you're thinking about moving, it's important to know what's happening in the housing market. Here's an update on the supply of homes currently for sale. Whether you're buying or selling, the number of homes in your area is something you should pay attention to.In the housing market, there are regular patterns that happen every year, called seasonality. Spring is the peak homebuying season and also when the most homes are typically listed for sale (homes coming onto the market are known in the industry as new listings). In the second half of each year, the number of new listings typically decreases as the pace of sales slows down.The graph below uses data from Realtor.com to provide a visual of this seasonality. It shows how this year (the black line) is breaking from the norm (see graph below):Looking at this graph, three things become clear:2017-2019 (the blue and gray lines) follow the same general pattern. These years were very typical in the housing market and their lines on the graph show normal, seasonal trends.Starting in 2020, the data broke from the normal trend. The big drop down in 2020 (the orange line) signals when the pandemic hit and many sellers paused their plans to move. 2021 (the green line) and 2022 (the red line) follow the normal trend a bit more, but still are abnormal in their own ways.This year (the black line) is truly unique. The steep drop off in new listings that usually occurs this time of year hasn’t happened. If 2023 followed the norm, the line representing this year would look more like the dotted black line. Instead, what’s happening is the number of new listings is stabilizing. And, there are even more new listings coming to the market this year compared to the same time last year.What Does This Mean for You?For buyers, new listings stabilizing is a positive sign. It means you have a more steady stream of options coming onto the market and more choices for your next home than you would have at the same time last year. This opens up possibilities and allows you to explore a variety of homes that suit your needs.For sellers, while new listings are breaking seasonal norms, inventory is still well below where it was before the pandemic. If you look again at the graph, you’ll see the black line for this year is still lower than normal, meaning inventory isn’t going up dramatically and prices aren’t heading for a crash. And with less competition from other sellers than you’d see in a more typical year, your house has a better chance to be in the spotlight and attract eager buyers.Bottom LineWhether you're on the hunt for your next home or thinking of selling, now might just be the perfect time to make your move. If you have questions or concerns about the availability of homes in your local area, connect with a real estate agent.

Looking for a home that combines convenience, style, and investment potential? Look no further than 1208 Neil Avenue in Columbus, OH. This charming property is situated in the heart of Victorian Village, a highly sought-after neighborhood known for its historic architecture, tree-lined streets, and vibrant community.Upon arrival, you'll be greeted by a covered front porch, perfect for enjoying the neighborhood's character or welcoming guests. Inside, you'll discover 9-foot ceilings and hardwood floors that lend an air of elegance to every corner of the home. With 4 bedrooms and 3 full bathrooms, the floor plan offers both comfort and versatility, making it ideal for families, professionals, or investors.One of the most convenient features of this property is the 1 bed and 1 full bath located on the first floor, providing easy accessibility and flexibility. The home also includes a 1 car garage and off-street parking, a valuable amenity in this prime location.But beyond its immediate charm, 1208 Neil Avenue presents an excellent investment opportunity. With its desirable location in Victorian Village, this property is sure to attract renters or future buyers who are drawn to the area's historic charm, vibrant community, and proximity to downtown Columbus.So whether you're looking for a forever home or an investment property, don't miss the chance to explore the possibilities of 1208 Neil Avenue. Stop by the open house on Sunday from 1-4 pm to see for yourself what this property has to offer. With 4 bedrooms, 3 full bathrooms, and a listing price of $524,900, this home won't stay on the market for long.

Are you looking for a new home or an investment property? Look no further than 1161 N 4th Street in Columbus, Ohio. This newly built townhome in the heart of Italian Village is a prime location for those seeking modern luxury and convenience. With a listing price of $499,990, this townhome offers a unique opportunity with 100% tax abatement until December 31, 2035. That's right, you won't have to worry about property taxes for the next 14 years! This is just one of the many features that makes this property so attractive. The location itself is unbeatable, with popular destinations like Budd Dairy Food Hall, Short North, Fox N Snow, and Seventh Son all within walking distance. And if you need to go further, there's an attached 1-car garage and 1 assigned parking space, as well as 2 on-street parking permits. The interior of this townhome is equally impressive. The kitchen is a chef's dream with high-end Bosch SS appliances, a large island, and quartz countertops. Hardwood floors run throughout the open concept living space, creating a warm and inviting atmosphere. Upstairs, the deluxe master shower and walk-in closet provide a luxurious retreat. And with a new washer and dryer included, you won't have to worry about laundry day. If you're an investor, this property is an exceptional opportunity. Short term and AirBnB rentals are approved, with a potential rental income of $4,000 to $5,000 per month. This condo can be acquired as a turn-key AirBnB, taking the hassle out of setting up your investment property. In sum, 1161 N 4th Street offers the perfect combination of luxury, convenience, and investment potential. With a tax abatement until 2035, you can invest in your future with peace of mind. Don't miss the Open House on Sunday, April 2nd from 1-4 PM. Come see for yourself why this townhome is the perfect investment for you.

People say a lot of things about selling a home in today’s market. But unfortunately, some of it isn’t true—and buying into those myths can have a negative impact on your home sale. So what, exactly, are people saying about selling your home in today’s market that just don’t align with the facts? A recent article from realtor.com outlined common myths about selling a home in today’s market that simply aren’t true, including: “Buyers will take anything—so there’s no need to renovate or repair.” Many sellers think that low inventory means that buyers will be willing to pay top dollar for any property. But the truth is, many buyers are put off by homes that appear like they need a lot of work. So while there’s no need to completely renovate your home prior to listing, making small, cosmetic repairs (like tidying up the landscaping or repainting the walls) can make a huge difference in how attractive your home is to buyers—and ultimately, how quickly (and profitably!) your home sells. “There’s no need to invest in marketing my home; in this market, homes sell themselves.” It may be a seller’s market—but that doesn’t mean, as a seller, you don’t have to put in any effort to sell your property. Buyers spend a lot of time scouting homes online—so if you want your home to sell, you’ll want to invest time and resources into making your listing as attractive as possible (for example, getting professional photos of your property). “In a bidding war, choosing the highest offer is always the right move.” Bidding wars are a common occurrence in today’s market—and many sellers believe that, if their home inspires a bidding war, they should accept the highest offer. But that’s not always true. There’s a lot more to an offer than just the purchase price—and going with a slightly lower offer with better terms (for example, more flexible closing terms or an all-cash offer) is often a better option than just choosing whichever offer has the highest dollar amount. The Takeaway: So what does this mean for you? If you’re thinking about selling your home, it’s important to arm yourself with the right information about how to navigate the current market—and to avoid buying into myths that could potentially derail your sale.  

It’s highly possible that an experienced home inspector could fail to find something wrong with your house. So it isn’t out of the question that you might not know about something wrong with it. But considering you live there, unless it’s something truly lurking below the surface that only a trained eye could find, the chances are you know a thing or two that’s wrong with your house. And if you do, you should disclose the issue(s) to potential buyers. But, according to a recent REALTOR Magazine article, 94% of homeowners do not disclose known issues with their home, hoping buyers wouldn’t notice. Well, they do notice, because 90% of buyers surveyed reported finding issues with the home after closing, including: Electrical (88%) Fixtures (58%) Plumbing (58%) Exterior structures (like sheds) (54%) Leaks (54%) Basement (52%) Water damage (46%) Heating and cooling (43%) Exterior facade (42%) Mold or termites (39%) Major appliances (34%) Roof (31%) Foundation (27%) Even if it’s something you’ve tolerated for many years (a common excuse sellers make), it doesn’t mean it’s something the buyer of your house should be expected to figure out and be okay with once they’ve lived in the home for a while. For instance: Is there a light switch that doesn’t actually work? It might aggravate the heck out of you, but you never wanted to spend the money to get it fixed, and maybe you hope the buyer just won’t notice until they live there. Or perhaps there’s a pipe that clogs once or twice a year and requires a plumber to come out to professionally snake it. That could easily go unnoticed during an inspection. But you know within a year they’ll have to deal with it, and within two years they’re going to figure out it’s something that happens regularly, and probably has been for years. But at that point, you’ll be long gone. Does your basement flood when it rains really hard? You may be able to paint over any water damage and get the musty smell out before listing your house, but that doesn’t fix the fact that your buyers will need to put on some boots and wet-vac an inch of water like you did after a heavy rain. Those are just a few examples, but what are the things that aggravate you about your house and your buyer will have to deal with? Put yourself in your buyers’ shoes (or boots, if you will), and have some empathy. Ideally, fix it for them before even selling it. (Oh, and you should disclose a known issue even if you fix it, by the way!) But if you can’t, or just don’t want to fix something, at least disclose it and let the buyer make an informed decision. Why should you disclose known issues, when 94% of sellers don’t? While buyers should do their due diligence, and their home inspector should catch any issues (and could be liable for missing things), there’s still a responsibility on the owner to disclose any known issues. If you fail to disclose, you could be liable! Just because the buyer didn’t realize there was an issue before closing on the purchase of your house, does not mean they can’t come after you for not disclosing a problem. The Takeaway: Disclosing issues with your house to potential buyers isn’t just the right thing to do, it’s your legal responsibility. Just because “everyone else does it,” and you may get away with it, isn’t a good reason to throw caution to the wind. Besides, just because there’s an issue and you disclose it doesn’t necessarily mean you have to fix it. That’s always negotiable, and the buyer can take it into consideration when making their offer. It may not even affect how much they’re willing to offer for your house. But if you try to hide it and they find out, you could find yourself losing a deal, or worse…a future lawsuit!

    If you’re a person who spends a lot of time in their kitchen, chances are, at some point you may want to make some changes or upgrades to the space. But kitchen renovations can be expensive. So, the question is, how can you upgrade your space without spending tens of thousands of dollars to do so? A recent article from realtor.com outlined kitchen upgrades that can transform the look and feel of your space without breaking the bank, including: Swap out your hardware. Replacing kitchen cabinets can be an expensive, time-consuming project. But if you want to refresh the look of your cabinets, you can do it quickly and affordably by swapping out the hardware. Switching out your existing hardware for knobs and pulls that better fit your personal style is an easy way to upgrade your kitchen—and you can pull off the project with a budget of about $100.   Personalize with paint. If you’re looking to completely change the look of your space, you won’t find a better budget-friendly project than painting cabinets and/or walls—and you can complete the project in a few days and with a budget of about $300. For a luxurious look, consider painting the walls in a rich, dark hue. Or, to open up the space, consider painting your cabinets in an airy neutral tone.   Add a kitchen island. If you have a large space to work with—and you want your kitchen upgrade to not only change the look and feel of your kitchen, but the functionality and the way you utilize the space—consider adding a kitchen island. Not only are islands both attractive and functional, they’re more affordable than you’d imagine. (You can find budget-friendly options between $125 and $1,000.)