Tuesday, March 8, 2011
Tuesday, January 25, 2011
APPEALING PROPERTY TAXES IN FRANKLIN COUNTY, OH
The Franklin County Auditor’s office is responsible for determining the assessed value of homes in the county for which property taxes are based. What many homeowners do not know, however, is that they can file an appeal to have the assessed value of their home re-examined. This appeal, called a Complaint Against the Valuation of Real Property, can be filed on your primary residence.
Any person owning taxable property in Franklin County may file an appeal. All you need to do is go to the county auditor’s website http://www.franklincountyauditor.com/pdf/forms/dte_1.pdf and fill out the form online. Your parcel number can be obtained through the Auditor’s property search site or from your recent tax bill. Now is the best time to file the appeal, right after your December tax bills arrive. However, you have until March 31st to appeal.
Once the form is completed, mail it to: Franklin County Auditor, Board of Revisions, 373 South High Street, 20th Floor, Columbus, Ohio 43215-6310
It could take several months for you to receive a letter notifying you of a hearing date. To prepare yourself for the hearing, you will need documentation of home sale prices for the past year or two. This will give the hearing officers the true market value of your property. Contact me and I can send you a report of sales in the area to take with you to your hearing.
The hearing itself lasts about 15 minutes. You will be asked several questions to determine why you feel the value of your property should be reassessed. DON’T BE INTIMIDATED! It is very non-threatening and business-like. Once the hearing is completed, you should receive another letter in 2-4 weeks (depending on the number of appeals scheduled) of the Board of Revision’s final decision. You may also receive a refund check of the amount overpaid (depending on when your appeal is heard).
It’s as simple as that. You have the right to pay only the amount of taxes your property is truly worth. Good luck and contact me at 614-729-9063 if you have additional questions or would like a copy of real estate sales in your area. Or you can go to my website at www.HouseHunterPros.com.
Any person owning taxable property in Franklin County may file an appeal. All you need to do is go to the county auditor’s website http://www.franklincountyauditor.com/pdf/forms/dte_1.pdf and fill out the form online. Your parcel number can be obtained through the Auditor’s property search site or from your recent tax bill. Now is the best time to file the appeal, right after your December tax bills arrive. However, you have until March 31st to appeal.
It could take several months for you to receive a letter notifying you of a hearing date. To prepare yourself for the hearing, you will need documentation of home sale prices for the past year or two. This will give the hearing officers the true market value of your property. Contact me and I can send you a report of sales in the area to take with you to your hearing.
The hearing itself lasts about 15 minutes. You will be asked several questions to determine why you feel the value of your property should be reassessed. DON’T BE INTIMIDATED! It is very non-threatening and business-like. Once the hearing is completed, you should receive another letter in 2-4 weeks (depending on the number of appeals scheduled) of the Board of Revision’s final decision. You may also receive a refund check of the amount overpaid (depending on when your appeal is heard).
It’s as simple as that. You have the right to pay only the amount of taxes your property is truly worth. Good luck and contact me at 614-729-9063 if you have additional questions or would like a copy of real estate sales in your area. Or you can go to my website at www.HouseHunterPros.com.
Saturday, June 19, 2010
MAKING SENSE OF THE NEW MORTGAGE ENVIRONMENT
The new mortgage environment has changed dramatically in 2010, leaving many consumers very confused and uncertain. Borrowers that closed on a mortgage loan within the last ten years have probably heard of the terms “no-doc,” “limited-doc,” “stated income,” “zero down 80/20 loans”, and even “zero down-payment loans with 580 credit scores.”
Several of these mortgage programs were part of the subprime market, also known as non-conforming loans. We had a culture of “underwrite the file with automated underwriting systems,” then document them according to those underwritings findings. Many loans were originated and closed with nothing more than an appraisal and title work based solely on credit score. However, many buyers of those mortgages (AIG, Lehman, etc.) decided to no longer buy this type of paper, or they became financially insolvent, due largely to these types of loans. That was, essentially, the official end of the “subprime” mortgage market.
What remains is FHA, VA, and conforming lenders. They require full disclosure and documentation, which means two years of tax returns and W-2’s, a month of pay stubs, as well as a list of assets and reserves, among other things. This can be frustrating for those formerly able to get financing with as little less as a credit report and an appraisal. The self-employed individual that “writes off” or deducts most of the income on their returns, has little-to-no options in regards to conventional financing. Couple this with the decline in home values, and the mortgage market has become more challenging than ever before.
However, it’s not all gloom and doom. Mortgage rates for purchasing and refinancing are at 30 year lows. We are seeing signs of home values on the rise. There are also several low down-payment options for potential home buyers. FHA still only requires 3.5% down, and there are some down payment assistance programs that can even reduce that. A blood relative can still gift 100% of that 3.5% down payment and in Ohio the Ohio Housing Finance Agency (OHFA) still offers grants for down payment assistance. If you are a military veteran, VA still offers 100% financing for eligible veterns.
So keep the faith and have hope. Guidelines will ease as time passes. We’ll probably never go back to the lending policies of the 1990’s and 2000’s, but home ownership is still the American dream and it will always be for those willing and able to pursue it.
Mike Lang has over fifteen years experience and is a mortgage loan officer at Fifth Third Bank in Gahanna, Ohio; Mike.Lange@53.com; 614-775-5138.
Several of these mortgage programs were part of the subprime market, also known as non-conforming loans. We had a culture of “underwrite the file with automated underwriting systems,” then document them according to those underwritings findings. Many loans were originated and closed with nothing more than an appraisal and title work based solely on credit score. However, many buyers of those mortgages (AIG, Lehman, etc.) decided to no longer buy this type of paper, or they became financially insolvent, due largely to these types of loans. That was, essentially, the official end of the “subprime” mortgage market.
However, it’s not all gloom and doom. Mortgage rates for purchasing and refinancing are at 30 year lows. We are seeing signs of home values on the rise. There are also several low down-payment options for potential home buyers. FHA still only requires 3.5% down, and there are some down payment assistance programs that can even reduce that. A blood relative can still gift 100% of that 3.5% down payment and in Ohio the Ohio Housing Finance Agency (OHFA) still offers grants for down payment assistance. If you are a military veteran, VA still offers 100% financing for eligible veterns.
So keep the faith and have hope. Guidelines will ease as time passes. We’ll probably never go back to the lending policies of the 1990’s and 2000’s, but home ownership is still the American dream and it will always be for those willing and able to pursue it.
Mike Lang has over fifteen years experience and is a mortgage loan officer at Fifth Third Bank in Gahanna, Ohio; Mike.Lange@53.com; 614-775-5138.
Need Down Payment Assistance?
In today’s environment, many home buyers, especially first time home buyers, are in need of help in the form of down payment assistance in order to purchase their first home. Even if they can come up with the down payment, it may be a good idea to take advantage of down payment assistance, when available, as that money can then be used for other necessities.
As a realtor, I have access to and work with several builders and at least one agency that have programs to help with the down payment in the form of a grant or through work-equity. With the expiration of the home buyer tax credit, builders have come up with creative ideas to generate more sales and help potential purchasers buy their products. Both of these builders offer a wide variety of affordable homes in various styles, floor plans, options that make it affordable for the first time buyer.
One builder offers a program whereby the buyer can earn up to 3.5% of their down payment by doing easy tasks such as clean up, planting shrubbery, painting their new home. If buyers cannot come of with the down payment, or they would like to save that money for other purchases, this program can be very helpful and get them in the home of their dreams.
Another builder is offering a grant of up to $4,000 for one of its builder communities. In this same community, the builder will also pay the buyer’s closing cost, resulting in zero out of pocket expense for the buyer. Builders can also offer other incentives such as free upgrades, special options, or free finished basement.
Another option would be the Ohio Housing Finance Agency, which makes affordable housing opportunities available for low-to-moderate income Ohioans. They offer extra help for active duty military and military veterans, firefighters, police officers, emergency medical technicians, healthcare workers, paramedics and teachers. www.ohiohome.org.
These great programs make home ownership more affordable and within the grasp of someone who might not otherwise qualify.
Call me at 614-805-7793 for more information about down payment assistance program or to get you pre-qualified.
As a realtor, I have access to and work with several builders and at least one agency that have programs to help with the down payment in the form of a grant or through work-equity. With the expiration of the home buyer tax credit, builders have come up with creative ideas to generate more sales and help potential purchasers buy their products. Both of these builders offer a wide variety of affordable homes in various styles, floor plans, options that make it affordable for the first time buyer.
One builder offers a program whereby the buyer can earn up to 3.5% of their down payment by doing easy tasks such as clean up, planting shrubbery, painting their new home. If buyers cannot come of with the down payment, or they would like to save that money for other purchases, this program can be very helpful and get them in the home of their dreams.
Another builder is offering a grant of up to $4,000 for one of its builder communities. In this same community, the builder will also pay the buyer’s closing cost, resulting in zero out of pocket expense for the buyer. Builders can also offer other incentives such as free upgrades, special options, or free finished basement.
These great programs make home ownership more affordable and within the grasp of someone who might not otherwise qualify.
Call me at 614-805-7793 for more information about down payment assistance program or to get you pre-qualified.
Thursday, June 17, 2010
Berwyn Home Sold!
A little over a month ago, I listed a two-bed room brick ranch in Berwyn, a quiet little subdivision just east of downtown Columbus. I was a little nervous about the listing because I've always been told "two-bedrooms don't sell." It also was on a slab, but it did have a one-car garage.
This was a lovely brick ranch in Berwyn, where I'd sold a home recently, so I felt fairly comfortable the home could sell, as there is an active market that attracts a particular buyer. Berwyn is an older area where the neighbors seem to know and watch out for each other.
I actively marketed the property to other agents, called almost 200 homes in a half-mile radius to tell them I just listed, and sent out "Just Listed" postcards.
We had only one showing the first three weeks so we reduced the price. Right away we received a cash offer from one of the neighbors at 96% of market value and we're set to close by June 30th.
I could have allowed those negative thoughts to cloud my attitude, which would have turned into a self-limiting belief.
I'm certainly not saying to accept every listing, as you need to evaluate each home based on its qualities, but don't allow someone else's insides to affect your outsides.
This was a lovely brick ranch in Berwyn, where I'd sold a home recently, so I felt fairly comfortable the home could sell, as there is an active market that attracts a particular buyer. Berwyn is an older area where the neighbors seem to know and watch out for each other.
I actively marketed the property to other agents, called almost 200 homes in a half-mile radius to tell them I just listed, and sent out "Just Listed" postcards.
I could have allowed those negative thoughts to cloud my attitude, which would have turned into a self-limiting belief.
I'm certainly not saying to accept every listing, as you need to evaluate each home based on its qualities, but don't allow someone else's insides to affect your outsides.
Monday, May 10, 2010
Brick Ranch in Berwyn 43209
This is a lovely brick home for sale in Berwyn, a subdivision in East Columbus. Berwyn is adjacent to Berwick, just 7 minutes from downtown Columbus and the quaint shops and eateries of the Short North. It is just minutes away from Easton Town Center, Port Columbus airport, and Eastland Shopping Center. There are also walking and bike trails in close proximity. Berwyn is an older, established neighborhood in an urban setting with a suburban feel. The exclusive community of Bexley is just one mile north with all its shops, retail stores and Capital University.
Homes in Berwyn were built mid-60's to early 70's, many of which are all brick, and have a wide variety of styles to choose from, including two story, ranch, and bi-level.
The house at 2879 Proctor is a lovely brick ranch features two bedrooms and 1.5 baths. It was built in 1963 and has 1192 square feet of living space. When you first walk in, it feels like home. It has central air conditioning and gas heat, insulated windows and one-car attached garage, with extended driveway. Taxes for 2008 were $978 annually. This is a cozy, welcoming home that has great curb appeal, with a well-kept yard and mature trees. This house screams "welcome," not just to the home, but to the neighborhood.
The area has two public elementary schools, Berwick Alternative and Scottwood, Johnson Park Middle School, and Bishop Hartley High School. There are nearly fifty cafes, bars, and restaurants within a two-mile radius, as well as quick access to all public services such as police, fire departments, post offices, public libraries, hospitals, banks and savings institutions.
Interested in buying or selling a home in Blacklick, Canal Winchester, Columbus, Groveport, Pataskala, Pickerington or Reynoldsburg? I am also a short sale resource specialist and can help you work with the bank to get your home sold. Contact me at www.HouseHunterPros.com I specialize in finding solutions to your real estate needs. You can reach me by email at mtbhunter@aol.com or by phone at 614-805-7793.
The house at 2879 Proctor is a lovely brick ranch features two bedrooms and 1.5 baths. It was built in 1963 and has 1192 square feet of living space. When you first walk in, it feels like home. It has central air conditioning and gas heat, insulated windows and one-car attached garage, with extended driveway. Taxes for 2008 were $978 annually. This is a cozy, welcoming home that has great curb appeal, with a well-kept yard and mature trees. This house screams "welcome," not just to the home, but to the neighborhood.
The area has two public elementary schools, Berwick Alternative and Scottwood, Johnson Park Middle School, and Bishop Hartley High School. There are nearly fifty cafes, bars, and restaurants within a two-mile radius, as well as quick access to all public services such as police, fire departments, post offices, public libraries, hospitals, banks and savings institutions.
Interested in buying or selling a home in Blacklick, Canal Winchester, Columbus, Groveport, Pataskala, Pickerington or Reynoldsburg? I am also a short sale resource specialist and can help you work with the bank to get your home sold. Contact me at www.HouseHunterPros.com I specialize in finding solutions to your real estate needs. You can reach me by email at mtbhunter@aol.com or by phone at 614-805-7793.
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