short sales: 2011 home sales off to a strong start - 03/22/11 03:40 AM
 
(March 22, 2011) Home sales for the first two months of the year are just 1.1 percent behind the same period last year
suggesting a strong start for the central Ohio housing market according to the Columbus Board of REALTORS® (CBR). 
 
There were 2,178 homes closed in January and February compared to the 2,202 closings during the first two months of 2010.
February home sales dipped slightly to 1,128, just 1.3 percent less than the 1,143 homes sold during the same month one year
ago.
 
"Why are we pleased at the small decrease in sales this year" asks … (0 comments)

short sales: Realtybid.com provides Reality Check - 02/02/11 02:29 AM
 
I have been looking with my buyers for a few weeks.  A few days ago I ran across a new listing that seemed to offer everything that they are looking for.  The property was being offered by a Fannie Mae Homepath agent that I closed two transactions with last year.  I knew my people would be very excited about this home.  As I looked further I noticed that the A2A remarks stated that all offers on this property had to go through www.Realtybid.com
My clients loved the house.  As I looked into placing the bid I realized a few alarming facts...
•1.       … (0 comments)

short sales: HAFA Welcomed Changes - 01/18/11 01:54 AM
After 10 months of operations the well intended HAFA (Home Affordable Foreclosure Alternatives) program designed to help with foreclosure alternatives including short sales, has qualified less than 700 short sales.  A far cry from the success many expected from this agency.  Finally the  Treasury Department has decided to loosen the requirements to try to qualify more families in need of the short sale option.  The new guidelines go into effect Some of the highlights include:
The subject property must either be owner occupied, OR it can be vacant for up to 12 months preceding the date of the HAFA Short Sale Agreement if the … (2 comments)

short sales: Finding Your Perfect Home - 11/18/10 02:33 AM
 
As the old saying goes, real estate is all about location, location, location.  But, there is a lot more to it than just plain geography when it comes to finding your perfect home.  There are a lot of things to consider during the search because, for most, a home is the most significant purchase they will ever make.
 
Choose A Good Area
 
When searching for your perfect home, the obvious place to start is with the selection of a location.  If you have children, you may want to choose a home that is close to good schools and … (0 comments)

short sales: House rich - 08/20/10 01:11 AM



Commentary: Why your best investment is a foreclosed home
 
By Michael Murphy
BOULDER, Colo. (MarketWatch) -- The recession is "officially" over according to GDP figures. Stocks are up 50% from the March 2009 bottom. Gold and silver are up dramatically, too. So what's the only remaining asset class that's still cheap?
Real estate.
Sure, in most parts of the country the market is still in the toilet. July marked the 17th straight month foreclosures exceeded 300,000, and the number of homeowners who lost their homes rose again on the month. But real estate is always a local … (0 comments)

short sales: FHA Launches Short Refi Opportunity for Underwater Homeowners - 08/09/10 02:57 AM
 
RISMEDIA, August 9, 2010--In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development  provided details on the adjustment to its refinance program which was announced earlier this year that will enable lenders to provide additional refinancing options to homeowners who owe more than their home is worth. Starting September 7, 2010, the Federal Housing Administration (FHA) will offer certain ‘underwater' non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least ten percent of the unpaid … (0 comments)

short sales: Central Ohio Real Estate Agent or REALTOR®? - 01/26/10 08:01 AM

Looking for a Central Ohio real estate can be a daunting process. That's why most of us will choose to get a real estate professional to guide us on this journey.  Picking the right person is important when you're looking to get a great deal on a home, so you need to know what to look for.
There is some confusion about the difference between a real estate agent and a REALTOR®. A REALTOR® can be any real estate professional who is a member of the National Association of REALTORS® (NAR).  Each member has to follow a strictly enforced code … (0 comments)

short sales: The four Most Important things to Remember With Short Sales - 06/15/09 03:07 AM

 
Purchasing a short sale can be nerve wrecking and exciting.  Many are lured in by the wonderful thought of getting a great deal on a house.   However, it is important to remember, before getting too caught up that there are many "Got Chas"  that without proper knowledge and guidance can derail your plan to short sale success.
The 4 Key things to remember when purchasing a short sale are:
 
1.  Work with a Pro
Buying a short sale requires knowledge of the process and good negotiation skills. Just as with a regular sale your agent  will  coordinate  all the … (1 comments)

short sales: City Wide Open House - 06/08/09 07:10 AM
Mark your calender for Sunday June 14th1-4
Come out to the Open House Extravaganza -Sponsored by the Columbus Board of Realtors.
Homes from $29,900 to over $800K will be held Open for your to view. 
For a complete list of the homes and times CLICK HERE
With home prices increasing and inventories decreasing, here in Central Ohio, now is the time to make the move to your dream home.
For more information on this event or for other real estate help call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com
(1 comments)

short sales: What's in a Name Countrywide? - 05/03/09 01:04 PM
 
 
 
Those of us who work with short sales only need to mention "Countrywide" and instantly delays and slow processes are understood.  Often the mere mention of "Countrywide" will harness sympathy and compassion.   The name has sparked frustration from sellers, buyers and agents across the country.  So it should come as no surprise that many of us are anxiously waiting to see if the Bank of America (BofA) acquisition and name change will bring about real change.
When I recently read that Countrywide President David Sambol was given a 20 Million dollar retention bonus, by  BofA I was more … (2 comments)

short sales: Affordable Housing Super Sunday Open House - 04/06/09 08:57 AM
Mark Your Calendar-Affordable Housing Super Sunday Open House
Affordable Housing Super Sunday Open House will occur Sunday April 19th, 2009.
This event is sponsored by the Columbus Board of Realtors and will feature over 200 affordably priced ($125,000) homes all over the central Ohio area.  If you spot by to visit any participation home on 4/19/2009 you can register to win one of the following exciting prizes:
Whirlpool Stainless Steel Smooth Top  Electric Range & 25 cu ft Side-by-Side                    Refrigerator with water & ice Dispenser courtesy Dominion Homes & WhirlpoolWii Gaming Systems courtesy Perma View(ANDERSON Replacement Windows) &                                 Tim Moffitt & Nancy Garrabrant, … (7 comments)

short sales: April is Fair Housing Month - 04/02/09 02:56 AM
 
In honor of Fair Housing Month the Columbus Urban League is sponsoring a "Buying Time" Workshop presented by National Speaker Mildred Wilkins President/Founder of Hom Ownership Matters. 
Who should attend:  Anyone who is experiencing a hardship that has or will prevent them from maintaining a current status on their mortgage payments. 
The work shop will be free to the public and will focus on practical ways to handle foreclosure prevention and intervention.  The focus will be arming the consumer with information and tools that will allow them to "Buy Time" by blocking their lenders foreclosure actions.    Buying time can allow … (1 comments)

short sales: Youngest Victims of Foreclosure In Your State.. - 03/02/09 09:14 PM

We all know the toll that the foreclosure crisis has played on the economy and the housing market.  There has even been much reported on foreclosures impact on pets, but what about the children?
In a recent report conducted and published by First Focus , it is estimated that 1.95 million children will be affected by foreclosure over the next two years.  The report reveals some startling revelations about the impact foreclosure has on the success of school aged children:
•1.       Each time a child moves to a new school it takes an average of 6 weeks for them to … (12 comments)

short sales: Don't Make a Short Sale Offer.............. - 02/22/09 11:37 PM

 
Everyone knows what HUGE pain short salescan be, however; most real estate agents will agree that they are an unavoidable part of the Central Ohio landscape.  The more  the process is understood the greater likelyhood there is for a smoother transaction.  As a buyer's agent it is important have a clear picture, with as much information as possible.  This will allow agents to better understand how to effectively work through short sales process minimizing buyer frustration. 
Buyers' agents play a large role in the successful competition of short sales.  Going into the transaction with the right expectations is a key element to successfully completing … (18 comments)

short sales: When Can You Buy after Foreclosure? - 02/11/09 04:10 AM
If you lost your Central Ohio real estate because of foreclosure, you probably haven't given up on your dream of owning a home. You may be scared to try for financing - afraid you'll be turned down and embarrassed in the process.There are few guidelines that lenders follow to determine when you'll qualify for financing after foreclosure. Arming yourself with this information will help you overcome your fears and qualify again for a mortgage.Foreclosure With Extenuating CircumstancesGenerally, lenders will take into consideration any extenuating circumstances surrounding the foreclosure on your Central Ohio real estate. Was there a death or illness that … (0 comments)

short sales: Should Your Central Ohio Investment Property be a Fixer Upper? - 02/10/09 01:30 AM

Are you considering buying a fixer-upper in order to get a great deal on Central Ohio real estate?  With the vast number of Short Sales, HUDs and REO's in the area there is quite a selection to choose from.  If you are able to make a few home improvements yourself, you may be able to save thousands on the purchase price of investment property.
Several things are important to think about before you buy that fixer-upper.  The first is the condition of the house.  Some repairs are so expensive and difficult to make that you might not be able to … (4 comments)

 
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Vanessa V. Simmons

Realtor

Columbus, OH

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Address: Central, Ohio

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