John's Blog

Short Sales in Dayton, OH

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 10 Jul 2008 00:37:46 -0500

I have been reading more and more about short sales on the different posts here on Active Rain, and maybe I am going about these all wrong, but I get 95% or my short sales accepted. I simply call and find out a fax number of where to send the packet and then I send the authorization form in only with a note attached to please call me about the clients loan status. This way, I find out from the bank exactly where the client stands and how far behind the really are and where the bank is in the process. I let them know we are trying to sell the property and ask them for their short sale packet and what information they need.

After I receive the contract I send in EXACTLY what they asked for - nothing more, no extra information, no more 75 page packets, nothing else, nothing extra other than a one paragraph executive summary of the marketing and some basic stats on the local market - usually on the cover sheet. I may continue to fax this packet 5 or 6 times, because it seems as though if you only send it once, the bank ALWAYS loses it - that is a common line with most lenders I have worked with. Once I confirm that they have received the packet and that it is complete, I ask about how long the process will take, typically, then, I call back close tot he end of that time frame for an answer - I dont call every day and waste countless hours of my time on the phone with them, yelling at them, insulting them, treating them poorly - they are people with jobs who have a process to follow - just like us.

I may not like the process, but I can tell you that I do not mind short sales too much taking this approach. Once I get to that deadline time they gave me and I do not get an answer, I remind them that I followed their rules, did not bother, did not call and insult anyone, and simply wnat an answer. I may push a bit at that time to move up the food chain, but I am finding that it takes this long for the banke to go through their decision making process and if I am the squeaky wheel, then i am simply going to get thrown to the bottom of the pile.

I think if you tried this approach, you would find it refreshing to see that you get calls from negotiators with accpetances - when you least expect them. Then, when something happens with the financing, appraisal, inspections, or clsoing date - as it usually does, I find it much easier to get them to accept changes. Not a bad process, just a lengthy one.

Call me crazy, but it does work.

Of course there have been banks that I have had to call daily to get them to even acknowledge that I am alive - and that is what makes this so much fun (note the sarcasm!) I usually do not push like this until I get to the second mortgage, if there is one, but many times, I simply will not take listings with a second mortgage unless I can get the bank on the 2nd to give me a reasonsble payoff up front and the numbers make sense enought to attempt the short sale.

If you are in Ohio, please see our sight: http://www.OhioShortSaleSolutions.com

Tips on Improving Credit Score

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Sat, 28 Jun 2008 22:42:34 -0500

For this and other GREAT blog posts, please view our real estate BLOG at www.DaytonsDirt.com.

One of the most important things in determining if someone is qualified for a home mortgage loan is credit - especially in today's tightening loan market. Of course there is no minimum credit score required for FHA or VA loans, but for conventional loans, credit score means everything. Yet most people know very little about how credit agencies work or more importantly, how a person can improve his or her credit under our consumer protection laws.

One of the first things that a real estate agent should do when working with a buyer is help the buyers obtain a copy of their credit report. Under the Fair Credit Reporting Act passed in 1971, everyone has the right to see their credit report for only $10-$20 in most areas. They should also obtain their credit score from the credit bureau, as credit scores are now used widely by lenders. (See pages 129E & F for info on credit scores). Once they have received their credit report and credit score, they can make corrections for any errors or duplications or "common name" errors. They can put their side of the story into the credit file on disputes they have with creditors. They are also free to go directly to any merchant showing unfavorable credit and try to get the credit changed to a positive entry by pleading their case. If the buyer's credit report does not show all of the positive credit that they recall, they can invest some money to upgrade their report to include these other positive credit experiences not shown on the report.

The first step to obtain a credit report is to call a local credit agency in the phone book under credit bureau or credit reporting agencies. Most have a taped message telling you what procedures to follow to get your report. They require the individual to provide the following information:

1) Full name

2) Spouse's full name, if married

3) Your social security number and spouse's number

4) Your present address and previous address covering the past 5 years

5) Your date of birth

6) Your driver's license number

7) Your signatures on the letter requesting the report

8) A check or credit card for $10-$20

NOTE: Some agencies allow the individual to order a credit report with a credit card. If it is not convenient to go to a local credit bureau, you may call in or mail the above information directly to:

Experian, P.O. Box 2106

Allen, Texas 75002

1-888-397-3742

Equifax

P.O. Box 740241

Atlanta, GA 30374

(404) 885-8000

1-800-685-1111

Trans Union

1- 800-888-4213

Have the buyer go directly to the local credit bureaus office and ask for the credit report on the spot.

Once they receive their report they should go over it line by line, looking for inaccuracies, common name errors and duplications. Also make sure that closed accounts, that is, accounts that have been paid off are shown as paid off, not as open accounts. If they find an error, they can take immediate action to correct the error. They must write out exactly what is in error and what the correct information should be. For example, "City National Bank is not an open account; it was paid in full on 7/17/02." Give or send the credit agency proof of pay off with your letter contesting the item.

If you have a dispute on an item, you are allowed to enter your side of the dispute in 100 words or less into your credit report. This way, the buyer's side of the dispute would show up in the credit file on future credit reports, which could allow a lender to approve a mortgage loan for that buyer, when they would have turned them down without the written explanation in the credit report.

Once the buyer has noted all errors, written out all disputes and collected the necessary documentation to back up his claims, send this information back to the credit bureau by "Certified Mail" or hand deliver it and get a written receipt that it was received. The credit bureau is obligated to contact all creditors where mistakes were made and the creditor must respond in writing within 30 days. If the creditor fails to correct the error or respond within the 30 days allowed and there is no way to double check the credit report's authenticity they have to REMOVE the item in question from the buyer's credit report. This is the Federal Law with regard to Fair Credit.

Chapter 13 bankruptcies which occurred more than seven years ago and were satisfactorily completed may be removed from the credit file, if the consumer requests removal.

Chapter 7 bankruptcies cannot be removed from credit files for 10 years. Some retail firms will remove "9s" from a credit report if the consumer negotiates with the retailer and pays off the outstanding debt.

Many of you have now figured out how many of these companies that promise to clean up any borrower's credit are able to do so. Through persistence! If you contested your bad credit enough times, it is very likely that sooner or later the creditor giving you bad credit would not respond within the 30 day period and be compelled to remove the bad credit. After any corrections were made on a buyer's credit report, the buyer has the right to demand that the credit bureau send corrected copies of the report to all creditors who received the incorrect reports for the last six months. This includes the other major credit bureaus.

Having had many years in the real estate business as a broker, I know that if a buyer is willing to put forth some effort, he can substantially improve and clean up his or her credit. One way that I have found is to go directly to the creditor reporting derogatory credit and explain that you are trying to buy a house, but with this bad credit you will be turned down. Many creditors are moved enough and humane enough to soften a report or delete it altogether when asked to do so - especially face to face! For homebuyers that lack credit due to age or preferring cash to the use of credit cards, I recommend going to the telephone company, electric company, gas company and previous landlords or other creditors and asking for letters of credit. These letters of credit can be incorporated into the buyer's loan application and credit report with the mortgage lender. These positive credit references can allow a buyer to be approved for a loan when no credit is found on credit reports.

Another important credit enhancing technique is the ability to write convincing letters explaining why a buyer's credit is not perfect. That is, if the buyer was out of work, went through a divorce, had medical problems or other sound reasons for the less than sterling credit, the buyer needs to explain this in writing. The better the explanation, the better the buyer's chances for loan approval. In fact, it would seem the more hardships the buyer has had to endure; the more likely the underwriter is to approve the loan.

Making an increased down payment may be very helpful In getting a loan approval. Most lenders will take a borderline buyer when the down payment is substantial, as the down payment acts as a deductible in a foreclosure. That is, the more the buyer has to lose, the less likely that a foreclosure will occur. In addition, if there is a foreclosure the buyer would lose his down payment before the lender would lose a cent. Many lenders stretch the income and debt ratio tests for a buyer if the down payment is increased. FNMA allows 33% income and 40% debt ratio with 25% down. VA and FHA lenders waive some lender requirements when down payments of 5% or more are made, due to the decreased risk of foreclosure losses.

If your buyer can not clean up his credit to a sufficient level for mortgage loan approval on a "prime" loan he may seek out a "sub-prime lender". The sub-prime lender will charge a higher interest rate and require a higher down payment than a prime lender would, but they may be willing to make a loan. The buyer's credit score and the number of late payments will determine what interest rate and how much down payment would be required. Subprime loans are increasingly more difficult to find today with the rise in foreclosures.

If your buyer can not obtain subprime financing due to poor credit, you may seek out loans that do not require any credit checks or approvals. Many VA or FHA mortgages can be assumed without any qualifications. The buyer does not even have to have a job. His credit can be the world's worst. He could have recent bankruptcies or foreclosures and he can still assume some VA and FHA mortgages. Which ones you ask? Any VA loan made before March 1, 1988 is fully assumable without qualifications of any kind! FHA loans made before December 1, 1986 are fully assumable again after one year for owner-occupants to assume and two years for owner-investors to assume. If the FHA loan was made after December 15, 1989, the buyer must qualify to assume the loan. VA loans made after 3/1/88 may be assumed with qualification by non-veterans or may be purchased without qualification on installment sales, such as a lease purchase or contract for deed. VA loans made after 3/1/88 may be assumed without qualification in instances where the vet is facing a foreclosure, if the property is not sold.

Seller financing is another option, as a seller can make a mortgage to a buyer without requiring him to qualify for it. A seller who owns his home free and clear has "Federal Lender Status" which means he can make any mortgage which a lender offers, but without the restrictions of institutional lenders. The seller makes the mortgage and has the right to foreclose if payments are not paid as agreed.

Tax Benefits of Home Ownership.

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Sat, 28 Jun 2008 21:54:41 -0500

I seem to find myself being asked by a lot of buyers if this is a good time to purchase a home. My standard answer is that ANYTIME is a good time to purchase a home. Some markets seem to favor buyer more so than sellers, but with the tax benefits you can receive by owning a home, it is always better to buy a home than to rent.

The U.S. tax laws provide homebuyers with many tax incentives to purchase real estate. These tax breaks, are a bonus, in addition to the satisfaction and enjoyment, which goes with homeownership. The following tax breaks are available to individuals who purchase real estate under IRS codes:

TAXES DEDUCTIBLE: Real estate property taxes are deductible on the primary residence and a second or vacation home. That portion of the homeowner's monthly mortgage payment which goes toward the payment of real estate taxes may be deducted from federal income taxes. In the early years of a mortgage, as much as 95% of the payment goes toward interest and taxes, making as much as 95% of the total house payment tax deductible.

INCREASE IN TAKE HOME PAY: IRS codes allow individuals who already exceed the minimum standard tax deduction barriers to claim additional tax withholding allowances or exemptions when they purchase homes of greater value or second/vacation homes. This increase in W-4 exemptions allows the homeowner to receive $30-600 per month in additional take home pay from their employer. It may assist them in budgeting a home of greater value or a second home. This monthly increase in take home pay is in lieu of a large lump sum income tax refund. This little known tax law may also be used by first time purchasers, if they purchase a home which will allow them to itemize substantially more than the minimum standard deduction amount.

HOMESTEAD EXEMPTION: Many states provide "homestead exemptions" which lower the real estate taxes that a homeowner would have to pay on their principal residence, or homestead. These exemptions allow a certain portion of the total value of the home to be excluded, or go untaxed, thereby lowering the homeowners total tax bill.

MOVING EXPENSES: Moving expenses may be tax deductible if you are moving more than 50 miles from your present location. The actual moving expenses plus cost of the trips for job hunting and some other expenses associated with moving may be deductible.

OFFICE USE: Part or full time use of an office in your home may be tax deductible. Under IRS rules, a prorated portion of the housing expense, operating expenses and depreciation may be deducted from income taxes if you use a portion of your home as an office, and you meet certain guidelines.

CAPITAL GAINS EXCLUSIONS: A homeowner may sell his principal residence and exclude up to $250,000 of profits under a capital gains exclusion. A married couple may exclude up to $500,000 in profits, each time they meet the eligibility requirements, but not more than every two years. To be eligible for this capital gain exclusion, the homeowner must have owned and occupied the home as a primary residence for at least two of the five years prior to the sale.

REAL ESTATE INVESTORS: Active real estate investors who actively participate in the management of rental properties can deduct up to $25,000 per year for deprecation, negative cash flows, interest, taxes, maintenance, repairs and miscellaneous costs, as long as their adjusted gross incomes do not exceed $100,000. $1,000 of the $25,000 deduction is eliminated for every $2,000 over the $100,000 adjusted gross income, until the AGI reaches $150,000. No deductions are available for the 3-5% of taxpayers whose adjusted gross income exceeds $150,000. - However, the $25,000 tax deduction is a huge deduction and would be over and above the deductions for one's primary residence and second home. This $25,000 tax deduction could conceivably reduce a gross income of $50,000 to a taxable income of only $25,000, resulting in a substantial tax savings. The tax savings would even be greater in states having state income taxes, as state income taxes are usually based on Federal income taxes, which would be lowered.

INTEREST DEDUCTIBLE: Interest paid on the primary residence and a second or vacation home is deductible from one's income tax. Since the vast majority of the early years' mortgage payment is interest, this can be a substantial deduction, saving the homeowner thousands of dollars in Federal and State income taxes. This is often the largest single itemized deduction the taxpayer has.

Falling Behind? Facing Foreclosure? Ohio Short Sale Solutions can help

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 17 Apr 2008 09:36:03 -0500

Trouble making your mortgage payments?

Mortgage rate adjusting upwards, payment increasing?

Did you lose your job?

Has their been an illness or death in the family?

Are you having trouble catching up with your mortgage?

Do you simply need help and do not know which way to turn?

If you answered yes to ANY of these questions or are simply looking for some good honest advice about what ALL of your options are in this situation, please visit our website, www.OhioShortSaleSolutions.com and see how we can help you.

We have travelled around the country for specialized training on Short Sales and how to negotiate with the mortgage company on YOUR behalf. We are currently carrying a very high success rate in closing our short sales and helping our clients avoid the foreclosure.

ATTENTION: FSBO Clients in Dayton and Surrounding Areas

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 17 Apr 2008 09:20:49 -0500

If you are a FSBO and are having trouble getting your home sold, please visit our website: www.DaytonFSBOHelp.com. From here, you can post your own home for sale, with a picture, and get yourself some FREE Internet marketing to help you sell your home on your own.

If things do not work out for you selling on your own, we would be glad to help, but you will never be pressured to list with us.

For more information about this FREE marketing system you can take advantage of, please go to the website to read about it or to post your home on line.

VALUE PRICED in Washington Township - GREAT INVESTMENT on Short Sale

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 17 Apr 2008 09:11:53 -0500

John Youker | Keller Williams Advantage/ SW Ohio Realty, LLC | 937-974-5176

9537 Meadow Woods Lane, Dayton, OH

GREAT VALUE FOR THE PRICE!! (Short Sale)

4 Bdrm Single Family House

offered at $275,000

Year Built	1986
Sq Footage	4,225
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	Unspecified
HOA/Maint	$0 per month

DESCRIPTION

*** OWNER WANTS OFFER *** HOME SUBJECT TO SHORT SALE - ALL OFFERS SUBMITTED TO BANK - FIRST ROUND SUBMITTED ON 4/19/08. NATIONAL CITY WILL POSTPONE AUCTION FOR REASONABLE OFFERS AND WILL DO SHORT SALE - COMMUNICATION WITH BANK IS OPEN AND COOPERATIVE. Any contract is subject to 3rd party bank approval for short sale and may take 30 - 45 days to receive an answer. Purchaser must rely on own inspections; seller or lender will make no repairs. Gorgeous woodwork and solid 6 panel doors throughout home, 2 family rooms, formal living and dining, plus LARGE eat in, huge kitchen with all custom cabinets and pantry with multiple pull-out shelves - 2 fireplaces, privacy fence in backyard. Upstairs laundry, large bedrooms, double vanities in guest bath, walk-in closets, 3 car side entry garage, screened in Florida room, and much more. With some good TLC and clean-up, this home would be a showplace!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Walk-in closet	Hardwood floor	Tile floor
Family room	Living room	Bonus/Rec room
Office/Den	Dining room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Attic	Laundry area - inside	Yard

ADDITIONAL PHOTOS

Seller contact info:

John Youker

Keller Williams Advantage/ SW Ohio Realty, LLC

937-974-5176

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 16, 2008, 6:07pm PDT

Short Sales and Income Taxes

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 17 Apr 2008 09:08:07 -0500

I recently met a client who was only two weeks away from auction on their property and they did not try to sell it because their bankruptcy attorney told them that bankruptcy would be the way to go and if they go through a short sale, they would have to pay income tax on all the money forgiven by the mortgage company.

First off, does the bankruptcy attorney realize that the bankruptcy may buy them some time in the home, but will NOT wipe out the mortgage debt? Instead, once the bankruptcy is over, the mortgage company will STILL foreclose, now the customer has a bankruptcy and a foreclosure on their record. The sad thing is that these clients had no other personal debt other than a small credit card of less than $1500 balance and one car loan less than $500 per month. Their monthly income was fairly high, they were just having trouble meeting the mortgage payment on the home, which was over $3000 per month with PITI included. They had over $70,000 in equity in the home, but the home was in need of some updating and clean-up so getting top market price was not an option, but foreclosure should not be an option either - they just received some bad advice.

The sad thing about this entire situation is that an attorney, who has a fiduciary duty to the client, advised them to destroy their credit, file bankruptcy, and throw away all of that equity for nothing other than HIS fee that they will have to pay him - up front - to financially ruin themselves? I immediately told them about the Mortgage Debt Forgiveness Act, enacted on December 20, 2007, (please see THIS ARTICLE on the IRS website for more info on the Mortgage Debt Forgiveness Act). Once they heard this they were amazed at what their attorney did not know, or what he did know but failed to tell them! I immediately listed the home - below market value and I am in the process of communicating with their mortgage company to postpone the auction on the property as I may be able to sell the home and pay off the mortgage in FULL for the client.

I was given a verbal today that they may give me 60 days to sell the home! Even if it is a slight short sale, it will be very slight, but they will not have the bankruptcy or the foreclosure on their credit report. The point of this post is to let you all know that YOU HAVE OPTIONS! Do not take the word of one accountant, one attorney, one agent, or one of your friends. Always seek the answers from other professionals and make sure that you are making a good decision about your financial future. The country is a mess right now with mortgage debt and foreclosures. Banks made a LOT of loans that they shouldn't have and they are working their way through trying to clean up the mess, but it takes skill and time, so don't think you have no options, your bank will work with you with the help of a knowledgeable professional - and most of the time, you do not have to pay for the services of the professional agent - the commission I charge is paid by the bank.

For more information please visit http://www.ohioshortsalesolutions.com/ and put in your address and information so we can schedule a FREE and confidential consultation with you to discuss and review your options.

Dayton Ohio Real Estate Blog: Dayton's Dirt, A Real Estate Blog

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 17 Apr 2008 08:58:22 -0500

If you are interested in staying current on the real estate market or simply want some local real estate news about YOUR neighborhood, please visit our Blog Site: www.DaytonsDirt.com. From here, you will find a comprehensive list of real estate services, ranging from buyer brokerage and automated buyer searches, to fee-based FSBO listings.

We look forward to being able to serve all of your real estate needs in the future, please visit our main website for more information: www.SWOhioRealty.comto find our more about who we are and read about our team, set up a search for homes, find the value of your home, or simply get your questions answered.

Please keep us in mind for you of your Dayton and surrounding area clients, we cover over 10 counties. If we can not help you or do not feel comfortable taking your listing, then we will refer a neighborhood specialist to you!

Open House this Sunday, April 20th, 2:00 - 4:00 pm

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 17 Apr 2008 08:45:11 -0500

John Youker | Keller Williams Advantage/ SW Ohio Realty, LLC | 937-974-5176

1721 Pinehurst Dr., Springfield, OH

Very nice, larger unit, nuetral throughout.

2 Bdrm Condo

offered at $146,900

Year Built	2004
Sq Footage	1,625
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	Unspecified
HOA/Maint	$45 per month

DESCRIPTION

This condo is in PRISTINE condition and ready to move in! All appliances and window coverings included. All neutral colors throughout, cathehdral ceilings, low fees at $540/year, walk-in closets, convection oven. This is one of the lower priced units in Kingsgate! Call today for a private showing.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Family room
Living room	Dining room	Dishwasher
Refrigerator	Stove/Oven	Microwave
Attic	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio

COMMUNITY FEATURES

Garage parking

Guest parking

Clubhouse

OTHER SPECIAL FEATURES

Motivated Sellers Want An Offer - ALL CONSIDERED!!

ADDITIONAL PHOTOS

Seller contact info:

John Youker

Keller Williams Advantage/ SW Ohio Realty, LLC

937-974-5176

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 30, 2008, 5:39pm PDT

Short Sales in Ohio

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Wed, 09 Apr 2008 01:03:51 -0500

If you are facing foreclosure and don't know what step to take next, please visit our website at Ohio Short Sale Solutions, and register for a FREE, in-home, confidential consultation to find out what your options are.

John Youker is a licensed real estate Broker in the state of Ohio and has had extensive training on short sales, foreclosures, and has successfully negotiated several short sales with the lenders. John teaches other agents in the community how to successfully negotiate short sales and coaches agents throughout the state on short sale negotiating.

If you want to know if a short sale is good for you, please visit our site, and find out what your options are. If short sale is the route that best fits your needs, then we will help you market your property, find a buyer, and negotiate a successful closing with the bank, prior to foreclosure. All of these services are yours commission free, for the small fee of $495.

If you are in our immediate market area of Clark, Montgomery, Miami, Warren, Greene, Preble, Butller, Hamilton, Clinton, Champaign, Logan, or Shelby Counties, we will help you ourselves, but if you are anywhere else in the state of Ohio, we will have one of our long distance, short sale experts and loss mitigation experts handle your file. Please register today for your FREE consultant and

Ohio Short Sale Solutions take care of your financial future and help you avoid a costly foreclosure. We look forward to working with you and helping you like we have helped so many others.

www.OhioShortSaleSolutions.com

Spring Parade of Homes in Centerville / Kettering, Sunday 4/13/2008

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Wed, 09 Apr 2008 00:25:23 -0500

Please visit our BLOG: Dayton's Dirt: A Real Estate Blog for more informaiton on this opportunity to tour four of the finest homes on the market in Centerville (Black Oak Estates), Washington Township (Oak Creek South and Fair Lea), and Kettering's Oak Creek neighborhood. We hope to see you there!

On Sunday, April 13, 2008 from 2:00 - 4:00 pm, John Youker's SW Ohio Realty Group of Keller Williams Advantage Real Estate will be hosting a "Spring Parade of Homes"

Four homes will be featured on this tour and will be open to the public for viewing. There will be a Licensed Professional Keller Williams Real Estate Consultant at each property to answer questions and give you a handout with a detailed map to get you to the next home - just show up at one of the homes and from there you will be given a map and directed to the next home.

Click on one of the pictures below to see a map of where each home is located. You can start your tour at either of the four homes, we will provide you with a map from there. We hope you find the perfect home today, and if you don't, please remember, we are only and e-mail or a phone call away!

6078 Southampton Dr., Washington Township (Fair Lea)

This 3 living area family home with in a multi-blue-ribbon winning school district has taken good care of this family! Updates: oak cabinets, appliances, double Jenn-Air oven, walk-in pantry, fireplace liners, carpet, master bath, flooring & faucets in hall bath, windows, roof, gutters, & fence. The lower level is finished into a rec-room and family room. The other half of the lower level is used for storage, laundry, utility, and a spare fridge and freezer that stay. There is a workbench and exercise room in the lower level as well. Off of the formal dining room, there is a spare room that is currently used as a study, but could be a fourth bedroom (it does have a closet) or family room. Backyard is all fenced in for pets/kids with back patio, shed, and shade tree. Mature trees, quiet neighborhood, and low traffic in this highly sought after Washington Twp. neighborhood make this low maintenance updated home close to schools, parks, and shopping a GREAT place to call home.

948 Ashcreek, Washington Township (Oak Creek South)

Beautiful, updated, ranch in Oak Creek South. Custom solid cherry cabinets in kitchen, new counter tops, new sink, laminate flooring in kitchen - hall - dining room - family room, updated baths with ceramic tile flooring, ceramic tile in entry, all new 6-panel doors, closet organizers in all closets, plantation blinds throughout home, bay window in eat-in area, new light fixtures and ceiling fans, and new garage door, and large deck on back of home -all on a well manicured 0.5 acre lot in Washington Twp. This home has been VERY WELL maintained and needs nothing! Move right in, sit right down, and ENJOY!

7860 Bigger Rd., Centerville (Black Oak Estates)

This updated Black Oak tri-level is in move-in condition with nothing needing to be done! Meticulously cared for over the years, the owners have completed the following upgrades: new dimensional shingle roof, soffits, gutters, downspouts, new kitchen cabinets and counter tops, new water heater, laminate and ceramic tile flooring, radon reduction system, water purification system, garage door, entry door with side-lights, microwave, range, windows, drainage system in backyard, screened in patio, and much, much more! This house will not last long it is price to sell and in fantastic condition. Currently it is configured as a 3 bedroom home but could be easily converted back into four bedrooms!

5738 Oak Valley, Kettering (Oak Creek)

Your dream home complete with white picket fence! Neat as a pin! Wonderfully updated ranch in Oakcreek. Tons of entertaining space which is freshly painted in neutral colors. Double walk-in closets in the master bedroom! Tons of updates including roof and HVAC '02 and new carpet through whole house and kitchen floor in '04. Updated kitchen with new cabinets. Freshly painted trim and exterior with nice landscaping. Not another home this nice for this price in all of Oak Creek!

Remember, come through the open houses on Sunday and be sure to register with your email address and phone number, you could be the lucky winner of a $50 gas card, just for stopping by to see us!

(no purchase necessary, need not be present to win).

We hope that you will stop by and visit one or all of our fine homes on this tour and we hope that one of these homes matches exactly what you are looking for!

See you Sunday between 2:00 and 4:00 pm!

Short Sales in Dayton, Ohio

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Fri, 14 Mar 2008 07:40:20 -0500

I have recently started a new BLOG titled Dayton's Dirt: A Real Estate BLOG about Dayton, OH and I invite everyone to check it out at http://www.daytonsdirt.com/, I think you will find it a good read and very informative. Here is an example of our most recent post on Dayton's Dirt:

One of the services we have added to our business is the short sale. Unlike many agents who will take the listing and have no idea how to negotiate and/or handle the short sale with the lender, we have gone through extensive training and coaching on how to effectively negotiate with the lender, from putting the packet together to closing the transaction and protecting the seller from future legal ramifications of the sale.

The short sale starts at the initial consultation with the client in default on their loan. There may be one mortgage or there may be two or more mortgages. Many times we are finding there are civil judgments, tax liens, or other liens against the property that also need to be settled and/or negotiated as well as the mortgage(s). This is where skill and negotiating techniques are required. Remember, we are asking banks and debt collectors to settle a debt for less than what is owed.

Whatever the situation may be, you must have all the documentation required to complete a short sale. Tax returns, bank statements, pay stubs, a complete list of all monthly financial obligations, payoff statements from each mortgage and lien, preliminary title search, simple lien search, and most importantly the last two items needed are a good hardship letter from the seller - explaining their current situation, and an authorization to release information (ARI) granting permission to the agent to negotiate on behalf of the seller. It may be wise to add other people who may come into contact with the mortgage company to the ARI, such as the title company, the other lien holders, or any team members that the real estate agent may have. Pricing the home is also very important. The idea is not to sell the home for the full payoff, even though that is where you may start the price of the home. We are having the most success with homes that we are listing right at the market value and then lowering the price by $2,000 - $8,000 each month or every 2 weeks until we draw an offer for the bank to consider. Lastly, once an offer is received, the packet must be put together in a manner that the bank will have to look NOWHERE else to make a decision for this home. You want to make sure they have EVERYTHING they need to make a decision on the spot. If things are left out of the packet, then your file may end up on the bottom of the pile, and the lender could be negotiating anywhere from 2 - 300 files at a time, especially in today's challenging market with the foreclosure rate being so high, which means now we are waiting.

At this point our job is to be patient. Once we have confirmation that the packet is in the hands of the right person and it is complete, there is not much we can do except wait on the bank to make some decisions, at which time they will contact us and let us know what they are willing to do. Be patient, hang in there, and don't be afraid to talk to us about your situation if you are behind on your payments; we can certainly help and it is completely confidential. We have helped SEVERAL people over the past few months doing short sales as an alternative to foreclosure.

A short sale is much less damaging on the credit report than a foreclosure. foreclosure is the single worst item that can appear on someone's credit report, sometimes affecting your ability to buy for up to ten years. Even though we are based in the Dayton, Springfield, and Cincinnati area, we cover all areas in between and have put a referral network in place of short sale negotiating specialists all over the state of Ohio. If you are in behind on your mortgage, or are about to fall behind - no matter what the reason - death in the family, illness, loss of job, adjustable rate mortgage, predatory lending, or a host of other reasons, please visit our website and sign up for a FREE, confidential consultation today!

http://www.ohioshortsalesolutions.com/

Why Wait? Now Is A Great Time To Buy!

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Sat, 08 Mar 2008 04:24:40 -0600

One of the trends I have noticed in our market is that many buyers are simply "waiting" to buy. They may be out looking, but with an increase in listing inventory, many buyers feel that if they simply wait around, the perfect house - at the perfect price will come along.

What many people do not realize is that there are several homes that are still selling within one week of hitting the market - because they are priced right and the buyers who are serious are making offers.

Below is a chart to show you what could potentially happen by "waiting to buy" in a market where interest rates seem to be trending upward over time.

In scenario 1, prices decrease by 5% and interest rates increase by 0.5%

In scenario 2 prices decrease by 10% and interest rates increase by 1.0%

Today

Scenario 1

Scenario 2

Home Price

$218, 900

Home Price: -5%

$207,955

Home Price: -10%

$197,010

Interest Rates

6.04%

Interest Rates: +0.5%

6.54%

Interest Rates: +1.0%

7.04%

Monthly Payment

$1,054

Monthly Payment

$1,056

Monthly Payment

$1,053

Table: Kadlec, Dan. "Ignore the Headlines!" Time 25 February 2008

(This information was provided by Keller Williams Realty International Newsroom and reprinted with permission.)

I hope you find this information to be helpful and understand that it may be possible to negotiate the price reduction today without the increase in interest rates. There are a lot of homes on the market, however over half of them are not "in the market" due to pricing and/or condition issues.

Many times, looking at homes that have been on the market for over 120 or 180 days will lead you to a deal that may be able to be negotiated to a lower price. The other side of this are the homes that are listed and sold right away because they are already priced at the "correct" market price for the home.

All it takes is a little market knowledge and someone to guide you along the way in helping you make a decision. When a "good deal" comes along, you have to snatch it up; and when it seems like there are no good ones left, then you have to make one. Remember, the worst that can happen when you write an offer is that the seller would simply say "no;" and in this market, I am not seeing that happen very often as most sellers are eager for an offer.

Also posted on Dayton's Dirt: A Real Estate Blog All About Dayton, Ohio.

Why Wait? Now Is A Great Time To Buy!

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Sat, 08 Mar 2008 04:24:28 -0600

Below is a chart to show you what could potentially happen by "waiting to buy" in a market where interest rates seem to be trending upward over time.

In scenario 1, prices decrease by 5% and interest rates increase by 0.5%

In scenario 2 prices decrease by 10% and interest rates increase by 1.0%

Today

Scenario 1

Scenario 2

Home Price

$218, 900

Home Price: -5%

$207,955

Home Price: -10%

$197,010

Interest Rates

6.04%

Interest Rates: +0.5%

6.54%

Interest Rates: +1.0%

7.04%

Monthly Payment

$1,054

Monthly Payment

$1,056

Monthly Payment

$1,053

Table: Kadlec, Dan. "Ignore the Headlines!" Time 25 February 2008

(This information was provided by Keller Williams Realty International Newsroom and reprinted with permission.)

Also posted on Dayton's Dirt: A Real Estate Blog All About Dayton, Ohio.

Short Sale Information On Mortgage Debt Forgiveness

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Thu, 20 Dec 2007 03:19:12 -0600

the H.R 3648 Bill should be introduced to law very soon and will greatly help those consumers that sold short on a mortage in the past year. Here is what I have found up to date:

Bill Status

Bill Text:

Summaries (CRS, PVS) Full Text

Status:

	Introduced	Sep 25, 2007
	Scheduled for Debate	Sep 26, 2007
	Amendments (2 proposed) [details]
	Passed House [details]	Oct 4, 2007
	Passed Senate	Dec 14, 2007
	Differences Resolved	-
	Signed by President	-

The bill may now proceed to a conference committee of senators and representatives to work out differences in the versions of the bill each chamber approved. The bill then goes to the President before becoming law. [Last Updated: Dec 18, 2007]

Last Action:

Dec 18, 2007: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.

This information is being brought to you, courtesy of the following website:

http://www.govtrack.us/congress/bill.xpd?bill=h110-3648

This is a follow up post to show the progress of this bill as it is passed through to become a law. This will greatly help many people who are in the middle of doing a short sale or are thinking bout doing a short sale as they will no longer be responsible for the taxes on the amount of debt forgiven by the mortgage company.

Facing Foreclosure? We have options for you

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Wed, 05 Dec 2007 23:16:07 -0600

If you are facing foreclosure, we may be able to help you or at least point you in the right direction of someone who will be able to help you. Our primary goal is to assist you, the homeowner avoid foreclosure. This can be a very stressful time and we understand that; we are here to help you. Below we have listed some options that may be available to you and we are willing to work with you to see if there is anything we can do to help you or at least to put you in touch with the correct people who can help you, whether it be your financial institution, our real estate team, a local attorney, or a private investor. Please feel free to contact via phone or email for your free, confidential, in-home consultation.

Seller Alternatives to Foreclosure

Your house is in foreclosure; we want to be sure you understand your options. Please review these items, and sign below when you feel comfortable to move forward with the sale or short sale option. We advise you to consult with an attorney if you have any questions about any of these options.

Do Nothing - If a homeowner does nothing, they most likely will lose their home at sheriff's auction. Loan applications generally ask if the applicant has ever been foreclosed upon. Credit reports also disclose this information. This will stay on your credit report for up to ten years.

Payoff/Refinance - Completely paying off the entire loan amount plus any deficient amount and fees. This is usually accomplished through a refinance of the debt. New debt may be at a higher interest rate and there may be a prepayment penalty associated with the loan, due to recent default.

Reinstatement - Paying the entire default amount plus interest, attorney fees, late fees, taxes, missed payments and fees. This option will allow you to keep your existing loan and terms, if the lender allows.

Loan Modification - Utilizing the existing mortgage company to refinance the debt or extend and/or change the terms of the loan.

Forbearance - Lender may be willing to arrange a repayment plan based on the homeowner's financial situation. The lender may be willing to provide a temporary payment reduction or suspension of payments and/or penalties. Information will be required from the lender to show that you are able to meet the new payment plan requirements.

Partial Claim - A loan from the lender for a second loan to include back payments, costs and fees.

Deed in Lieu of Foreclosure - The owner simply gives the property back to the bank instead of the bank foreclosing. This is a "voluntary" foreclosure, and still appears as a foreclosure on your credit report for up to ten years.

Bankruptcy - This option can liquidate and/or re-organize debts and/or allow more time.

Chapter 7 (Liquidation) completely settles personal debts. Mortgages are not included without a complete foreclosure process

Chapter 13 (Wage Earner Plan) Payments are made toward a plan to pay off debts or portions of debts in 3 - 5 years.

Sale - Homeowner may sell the home without lender approval for a conventional home sale. If the property has equity the sale will close, the lender paid off, and the foreclosure is gone.

Short Sale -Also known as a pre-foreclosure sale can be negotiated with your lender by your real estate professional, or a third party company, if what is owed is more than the property's market value.

If you have any questions or would like to have any of these items explained to you in more detail, please contact us, we would be glad to help in any way we can.

Visit our website if you would like to learn more about who we are, we would like to help you.

http://OhioShortSaleSolutions.com

We hope to hear from you soon if you would like to lern your alternatives to foreclosure.

Thanks,

John D. Youker

Broker / Owner

SW Ohio Realty Group, LLC

Keller Williams Advantage Real Estate

Servicing all of the Montgomery, Greene, Clark, Warren, and Preble, Miami, and Butler County areas.

Mobile: (937) 974-5176

Email: sold@JohnYouker.com

Facing Foreclosure? We have options for you.

John Youker (SW Ohio Realty Group / Keller Williams Advantange) — Wed, 05 Dec 2007 22:47:41 -0600