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Cincinnati Mortgage Market Presented by Kim Schieldknecht - LO.002028.000, MB.802245.000 of Clermont Financial LLC Mortgage Market Update: In a move to push rates low and stimulate the US housing market, The United State Federal Reserve announced in late November that it would purchase up to $500 Billion worth of mortgage-backed securities over the next year and a half. The Fed's actions were designed to loosen credit and make money available for today's homebuyers. The announcement sent the national average for 30-year fixed-rate mortgages below the 6 percent mark, down almost 3/4 points from the previous month. Although the National Association of Realtors reported a decline in existing-home sales during October, officials there are optimistic about the move. Lawrence Yun, The association's chief economist, thought the Fed's actions should bring interest rates down considerably. "As we've seen in past recessions, home sales rise when mortgage interest rates fall" Yun said. The association is currently reporting a 10 month supply of existing homes for sale, and projecting that 4.98 million homes will be sold in the US for 2008. Finance Q and A: Q: What is the benefit of a bi-weekly payment schedule? A: Some borrowers choose to pay back their mortgages over 26 bi-weekly payments per year. The bi-weekly payment schedule speeds up amortization and reduces total interest costs. It typically shortens the loan term from 30 years to approximately 22 years. These smaller bi-weekly payments amount to an extra monthly payment per year. Payments are deducted automatically from your savings or checking accounts. The same objectives can be accomplished by making an extra payment each year, or by applying an additional amount to principal each month when you send in your payment. Tip of the Month: Your credit report offers detailed information on your borrowing and repayment habits. Lenders determine your credit worthiness by looking at the FICO score found in your report. Scores range from 300 to 850, with higher numbers indicating a better credit history. According to Federal law, you are entitled to receive one free credit report each year. Take advantage of this opportunity and make sure you agree with what's on your report! Kim Schieldknecht - LO.002028.000, MB.802245.000 Clermont Financial LLC 726 Mohawk Trail & 5720 gateway blvd #204 Milford and Mason, OH 45150 (513)587-3599 http://www.clermontfinancial.com

National Statistics Updated 12/2/2008 4.98 M Exist Home Sales 692 Avg Credit Score 1.0% Fed Funds Rate DOWN 4 Wk Rate Trend

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Cincinnati Mortgage market update.

Cincinnati Mortgage Market Presented by Kim Schieldknecht - LO.002028.000, MB.802245.000 of Clermont Financial LLC Mortgage Market Update: The Unites States Federal Reserve has lowered the federal funds rate again by 50 basis points. The new rate now stands at 1 percent, a 5-year low. Mortgage rates, on the other hand, moved in the opposite direction. Frank Nothaft, chief economist for Freddie Mac, explains, "Long-term mortgage rates followed long-term Treasury bond yields higher last week, pushing fixed-rate mortgages up." The 30-year, fixed rate mortgage now hovers in the mid 6 percent range. The National Association of Realtors (NAR) reported some good news in October as existing home sales increased over 5 and a half percent -- a sign of improved housing affordability. The estimated annual volume has been revised upwards to 5.18 million units for 2008, representing a 1.4 percent increase over the previous year. The combination of lower prices, higher inventory and relatively low mortgage rates have all contributed to the increase in sales. Total housing inventories were down 1.6 percent for the month of September, marking two consecutive monthly declines since inventory levels peaked in July. Finance Q and A: Q: How does the lender decide the maximum loan amount that I can afford? A: The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA, monthly mortgage payments should be no more than 28% of gross income, while the mortgage payment, combined with non-housing expenses, should total no more than 36% of income. The lender also considers cash available for down payment and closing costs, credit history, and other factors when determining your maximum loan amount. Contact your mortgage professional for current loan program details. Tip of the Month: Why rent a house when you can buy? Home ownership offers many benefits. When you make a mortgage payment, you are building equity. And that's an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. Given the freedom, stability, and security of owning your own home, home owners make a significant investment in their long-term security. Contact your mortgage professional today and learn how to maximize today's housing opportunities. Kim Schieldknecht - LO.002028.000, MB.802245.000 Clermont Financial LLC 726 Mohawk Trail & 5720 gateway blvd #204 Milford and Mason, OH 45150 (513)587-3599 http://www.clermontfinancial.com

National Statistics Updated 11/1/2008 5.18 M Exist Home Sales 692 Avg Credit Score 1.0% Fed Funds Rate UP 4 Wk Rate Trend

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RE/MAX ELITE....$100.00 DOWN ON hud HOMES

www.2483660.com Post,   I just came across an update today from HUD.  If you or someone you know is wanting to buy a home, the program below not only allows you to buy a home with only $100 down, but could also give you $2500 in extra incentives!   Even if you are not thinking of buying a home, PLEASE pass this along to anyone who you know who might be.  This is just too good of an opportunity to miss!   HUD Expands Sales Incentive Program! Take Advantage of BIG Incentives NOW when you purchase HUD Homes in Ohio $100 Down Payments! Purchase a HUD Home with FHA-insured financing for low down payments. YES You can own your own home!   This special sales offer may not be combined with any other HUD discount sale, including sales under the Good Neighbor Next Door program or sales to non-profit organizations.   $2500 Sales Allowances! The sales allowance is available to Owner-Occupants purchasing HUD homes with a sales price equal to or greater than $25,000. Purchase can be FHA, conventional, or cash financed. $2500 can be used for repairs, closing costs and mortgage principal reduction.   See our RE/MAX site:  www.myelitehome.com   AND OUR INHOUSE LENDER, WWW.CLERMONTFINANCIAL.COM   Kim Schieldknecht

Kim Schieldknecht, Clermont Financial LLC
726 Mohawk Trail & 5720 gateway blvd #204 Milford and Mason OH 45150 (513)587-3599

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Cincinnati Mortgage Market Update

Cincinnati Mortgage Market Presented by Kim Schieldknecht - LO.002028.000, MB.802245.000 of Clermont Financial LLC Mortgage Market Update: The National Association of REALTORS reported in late September that recent sales for existing homes declined slightly, to an estimated annual volume of 4.91 million units for 2008. Recent tightening in mortgage lending has created challenges for some of today's home buyers. According to Freddie Mac, the thirty year fixed rate mortgage hovered in the mid 6 percent range. Officials are hoping that recent actions taken by the Federal government will create stability in the housing market. Lawrence Yun, chief economist for the National Association of REALTORS, says, "With higher loan limits and a beefing up of the FHA program, all the mechanisms have been falling into place to increase mortgage availability." In other news, the House of Representatives passed the Veterans Construction and Extension Act of 2008, which helps Veterans achieve their dreams of home ownership. The bill has been passed on to the Senate for finalization. If you're in the market for a home, contact us for information on FHA, VA, and other mortgage programs that might be right for you. Finance Q and A: Q: How does the $7500 tax credit work for today's first time buyers? A: The $7500 tax credit is not really a tax credit as much as it is a tax-free loan. As a first time buyer, you are allowed to apply 10 percent of your purchase price, or as much as $7500, as a tax credit on your return. This can put money in your pocket when you file your taxes, but keep in mind that this money will need to be paid back to the government in small installments over the next 15 years. Even so, this is a tremendous incentive for first time buyers looking to take advantage of today's market opportunities. Tip of the Month: With credit markets tightening as financial institutions deal with recent liquidity challenges, it is now more important than ever that home borrowers get their financial house in order when applying for a loan. Be sure to review your credit report with your mortgage professional and get pre-approved for your loan before making an offer on a home. A little preparation goes a long way and can mean all of the difference when it comes to closing on that dream home. Kim Schieldknecht - LO.002028.000, MB.802245.000 Clermont Financial LLC 726 Mohawk Trail & 5720 gateway blvd #204 Milford and Mason, OH 45150 (513)587-3599 http://www.clermontfinancial.com

National Statistics Updated 10/1/2008 4.91 M Exist Home Sales 692 Avg Credit Score 2.0% Fed Funds Rate EVEN 4 Wk Rate Trend

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Cincinnati Mortgage Market

Cincinnati Market What the Rate Cut Means for You Presented by Kim Schieldknecht - LO.002028.000, MB.802245.000 of Clermont Financial LLC Mortgage Market Update: Congress has passed the Housing and Economic Recovery Act of 2008, providing significant opportunities for today's buyers. The legislation includes a large tax credit to help first time buyers take advantage of home ownership. The tax credit -- which is 10 percent of the purchase price, up to $7500 -- is to be paid back within 15 years, essentially making this an interest free loan from the US government. This tax credit provides new buyers with a valuable resources to home ownership! Fixed Rate mortgages for a 30 year loan remain in the low-to-mid 6 percent range. The National Association of Realtors (NAR) reported an increase in existing home sales during the month of July, up 3.1 percent overall. NAR has revised its current projection of annual existing home sales from 4.86 million units to 5 million units for 2008. Finance Q and A: Q: What is a seller-funded down payment assistance program? A: Seller-funded down payment assistance programs provide seller assistance home buyers who need a little help coming up with their required down payments. The FHA will phase out these programs beginning October 1, 2008. Even so, many other down payment assistance programs exist for helping buyers, including sources from nonprofit community organizations, churches, and family members. Contact your mortgage consultant today for availability information on these important programs. Tip of the Month: Many people ask about bi-weekly payment plans designed to reduce the interest paid out over the course of your loan. These programs help the borrower budget an extra payment a year, and over time this can knock years off the repayment schedule. Many people are surprised to learn that they can do this themselves without any special programs, simply by submitting an extra principle payment as they are able. By submitting an extra payment, you get the advantages of an early payout, without the extra contractual obligation. Contact your mortgage professional to determine the strategy that works best for you. Kim Schieldknecht - LO.002028.000, MB.802245.000 Clermont Financial LLC 726 Mohawk Trail & 5720 gateway blvd #204 Milford & Mason, OH 45150 (513)587-3599 http://www.clermontfinancial.com

National Statistics Updated 9/2/2008 5.00 M Exist Home Sales 692 Avg Credit Score 2.0% Fed Funds Rate Even 4 Wk Rate Trend

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CINCINNATI MARKET UPDATE

Cincinnati Market What the Rate Cut Means for You Presented by Kim Schieldknecht - LO.002028.000, MB.802245.000 of Clermont Financial LLC Mortgage Market Update: The US Treasury Department and the Federal reserve have outlined a proposal to aid Freddie Mac and Fannie Mae amidst their recent difficulty. Fannie Mae and Freddie Mac own or back $5 trillion in home mortgages across the country. The financial health of these two companies is critical to the US housing recovery process. Despite investor concerns that caused their stock price to fall, Treasury Secretary Henry Paulson expressed his support for helping these two companies maintain their roles in the lending marketplace. The Treasury is offering access to higher lines of credit, while the Fed is proposing that Fannie and Freddie be given access to funds through the Federal Reserve Bank of New York. Fixed Rate mortgages for a 30 year loan have bumped up to the mid 6 percent range. The National Association of Realtors (NAR) reported a slight slowdown in existing home sales during the month of June. NAR is currently projecting annual home sales at 4.86 million units for 2008. Finance Q and A: Q: Is it wise to pay discount points up front to get a lower interest rate? A: Depending on your plans for staying in the home, there are benefits to paying discount points to lower your interest rate. Over time, the savings realized from your lower interest rate will offset your initial expense of the lower rate loan. However, this strategy does not work well for buyers planning to move in a few years, who may want to opt for the higher rate. Consult with your mortgage planner today to compare options that work best for you. Tip of the Month: When buying a home, its good to get your financial house in order by doing a few small things ahead of time. Pay off small debts and get them off of your balance sheet, since the amount of outstanding credit can work against you when applying for larger loan amounts. You should also check your credit report for any blemishes or misreported items. You are entitled to receive a free credit report each year directly from the consumer credit reporting services. By reducing your debt and checking your credit report, you put yourself in the best position to acquiring a favorable mortgage. Kim Schieldknecht - LO.002028.000, MB.802245.000 Clermont Financial LLC 726 Mohawk Trail & 5720 gateway blvd #204 Milford & Mason, OH 45150 (513)587-3599 http://www.clermontfinancial.com

National Statistics Updated 8/1/2008 4.86 M Exist Home Sales 692 Avg Credit Score 2.0% Fed Funds Rate UP 4 Wk Rate Trend

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Seller Vs. Bank Short Sales

Do you know the difference between a seller originated and a bank originated short sale? Not knowing can cost you lots of frustration and time!







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10 Tips For New Landlords

1. Start small. The ideal starter rental is your own house because you know the condition of the property. Try one rental house and see if you like it and can handle it before buying a multi-unit building.

2. Rent your house unfurnished. Provide only a stove, refrigerator and washer-dryer hookups.

3. Do your own repairs. Maintenance companies can chew up your profits.

4. Aim high. Neighborhoods near military bases are great places for income property because transient military families tend to rent instead of buy.

5. Specify. Use qualifiers in your for-rent advertising. Saying "no pets" or "good credit required" will save you time and effort in screening applicants.

6. Use word of mouth. Offer a tenant referral fee of $50 to $100 to your good tenants to fill your vacancies. Good tenants tend to know other good tenants.

7. Don't live in your own rental. As appealing as a duplex or four-plex might look on paper, neither you nor your tenants will feel comfortable in close proximity to each other.

8. Buy for you. Only buy income property in areas where you would want to live yourself.

9. Don't overlook niche markets. For instance, by making your door openings 36-inches wide and installing grab bars and a ramp, you can rent to people in wheelchairs. It's a great way to do some good -- and you'll always have tenants.

10. Don't convert the beloved family home to a rental. If you've lived in a home forever and raised your kids in it, sell it rather than rent it because you've got emotional attachments that will prevent you from treating it strictly as a business investment.


This report is presented by:
Jim Hood
RE/MAX Elite, Realtors
Office: (513) 826-1924
Fax/Voicemail: (513) 297-1882
Email: Jim@SouthernOhioMLS.com

Free online buyer & seller seminars. http://cincyhomesearch.com/online_real_estate_university.htm
Keep updated about homes on your street. http://cincyhomesearch.com/StreetWatch.htm
Tips &Tricks newsletter with great offers from local merchants. http://cincyhomesearch.com/Neighborhood_club.htm
Get available homes instantly emailed to you! http://cincyhomesearch.com/Homefinder_information.htm
How much is your current home worth? http://cincyhomesearch.com/Seller%20Seminar/e-valuation.htm

Sellers - How To Negotiate An Offer

What is the Real Offer?

Often, sellers make the mistake of only considering the price when the buyer makes an offer. Many people's gut reaction is that this is "too low" and immediately reject the offer.

That could be a mistake. If you listen carefully, hidden inside the offer may be pearls of information that would make you reconsider accepting less than full price. You don't want to reject any offer out-of-hand. Let us consider the deal carefully. It almost always consists of two parts. The first part is the price. The other part is the terms.

Price and Terms

First ask yourself what you want out of the deal. A less than full price offer would have to list terms that were appealing.

Good Terms a Buyer Might Offer

Higher-than-market-interest second (or first) mortgage in your favor
- The buyer will pay for all or part of your closing costs.
- Taking a problem house "as is" (not asking you to fix the problem).
- Quick close (short escrow).
- All cash deal (when other are asking you to accept "paper").
- Letting you rent back the house for a time (if you're having trouble finding a place to move to).

Items to Check Carefully in the Offer

1. Is the buyer pre-approved? You want to know how qualified the buyer is to make the purchase. While you may not care about the buyer's actual name, you're looking for a strong pre-approval letter from a lender saying that this buyer will get a mortgage sufficiently enough to make the deal. If the buyer is putting down a substantial amount of cash, say 20 percent of the price, you also want to see a letter from a bank, certifying that the buyer has sufficient funds on hand to close the deal. Some smart buyers these days will even come in with a credit report to show you.

2. How quickly can the buyer close the deal? A buyer who's ready to close in 30 days or less indicates strength. The buyer presumably has all his or her ducks in a row in terms of financing. A buyer who needs 45 or 60 days to close may be stretching, hoping to snag financing. Or this buyer may simply be trying to tie up your property as a kind of fall back position, while looking for other, better deals. Always question why a buyer needs extra time.

3. Are there any sweeteners? A sweetener is a term or condition that makes the deal sweeter for you. Usually, these are the first things that agents point out. For example, you want to stay in the house an extra 2 months while your kids finish school. and the buyer is willing to go along with this. That's a sweetener.

4. Are there any cash incentives? Is the buyer offering to pay you extra interest on a mortgage you're willing to carry back? Is the buyer willing to pay for any of your closing costs?

5. Is there another property involved? Some buyers are cash poor. Instead of offering a cash down payment, they may offer a mortgage on another property, or even that property itself. This complicates the deal, buy could be a real boon. Be sure you have a realistic appraisal of the other property as well as a title report listing any liens so you can judge the value of the offer.

6. Are there any negative terms? A negative term can be anything which makes the deal less attractive to you. Contingencies which favor the buyer are negatives. Some you can expect, such as demands for a professional inspection and disclosures. Others, such as a demand that the sale be contingent on the buyer not losing his or her job or that interest rates not climb beyond a certain point, may weaken the offer. Yet others, such as a demand that the offer be contingent upon the buyer's great uncle in North Dakota coming through with a promised gift of money, may make the offer frivolous.

7. Is the price acceptable? Note that the price is last on this list. You won't really know if the price is acceptable until you've read the entire offer and understand it. Only then can you make a determination about whether you'll accept the price. Don't let the price deter you from considering the overall deal. Again it is only one part of offer.

Take Your Time

When an offer is presented, a time limit may be attached to it. For example, a "Cinderella" deal is good only until midnight of the same day. You might receive it at 9 p.m. which leaves a window of three hours to either accept, reject or counter.

The idea behind this strategy is to force a seller to act swiftly. Most buyers will allow enough time for careful consideration. The important point here is to not be pressured by a deadline. You need to have enough time to feel comfortable with your decision. In other words, TAKE YOUR TIME! It is better to lose an offer than accept a bad one.

Always take enough time to fully consider the offer.

This report is presented by:
Jim HoodRE/MAX Elite, Realtors
Office: (513) 826-1924
Fax/Voicemail: (513) 297-1882
Email: Jim@SouthernOhioMLS.com

Thank you for requesting this report.
More assistance available to you:

Free online buyer & seller seminars. http://cincyhomesearch.com/online_real_estate_university.htm

Keep updated about homes on your street. http://cincyhomesearch.com/StreetWatch.htm

Tips &Tricks newsletter with great offers from local merchants. http://cincyhomesearch.com/Neighborhood_club.htm

Get available homes instantly emailed to you! http://cincyhomesearch.com/Homefinder_information.htm

How much is your current home worth? http://cincyhomesearch.com/Seller%20Seminar/e-valuation.htm

Distressed Homes http://cincyhomesearch.com/distressed_homes.htm