Dayton Ohio Real Estate and Mortgages Information

Dayton Ohio Short Sales

Dayton Ohio Short Sales Experts

If you are looking for a way to avoid foreclosure or stop foreclosure a short sale my be the best option for you. BEFORE you consider a Dayton Ohio short sale you really need to talk over your options with a SHORT SALE EXPERT. You see any agent can claim to be a Dayton Ohio Short Sale Expert and have nothing to really show for it...

Are you stressed out? Need some help? Just want answers to your questions? That is what we do and I hope this short list of questions to ask about Dayton Ohio Short Sales helps...

Questions to ask the agent you are talking with about a short sale.

Are they a Realtor and how long have they been licensed?
How many short sales have they ACTUALLY closed in the last year?
What SHORT SALE SPECIFIC training have they had? HINT... a one day short sale class is not enough...
Can they tell you about all your options, NOT JUST a short sale? HINT... there are over 5...
Do they have a Dayton Ohio Short Sale package to protect you and make sure you understand EVERYTHING... HINT... our Dayton Ohio Short Sale package is 16 pages long...
Do they have a team of real estate professionals working for them? HINT... I mean REALLY working for them, NOT a list of office staff, office managers/brokers, mortgage reps, title reps, inspectors, etc. that they CALL their TEAM???
How many Dayton Ohio short sale listings do they currently have for sale? HINT... YOU DO NOT WANT TO BE THE ONLY ONE... Let someone else be their learning experience...
There are so many other questions that you should ask but this list will get you stated on the right path. If you don't like the answers you hear or want to interview our team of Dayton Ohio short sale experts please call us now to schedule an evaluation. (always honest and no pressure)

Looking for a Dayton Ohio Short Sale home for sale?

Check out some of our Dayton Ohio area Short Sale listings This is just a sample of all the homes that are available to you as a buyer. And having true short sale EXPERTS helping you purchase a short sale home can save you thousands of dollars and months of wasted time...

We look forward to talk with you all soon.

Dayton Real Estate Question

How long does it usually take to close on a home for sale in Dayton?

I get questions like this all the time from both Dayton home buyers and Dayton home sellers. As with anything... there is really no easy answer to this and Dayton Ohio Real Estate is no different. Lets start with the basics of what happen when you buy Dayton homes for sale.

Steps in buying Dayton homes for sale

Accepted purchase contract on the Dayton Ohio real estate.
Home title search
Inspections
Post inspection negotiations
Home appraisal
Home buyer loan application and approval.
Real Estate closing and loan funding.

This is a partial list... there can be literally hundreds of things that go on from the time it is a Dayton home for sale to a Dayton home that is SOLD...

This example also assumes a home buyer is using mortgage financing and not paying cash.

Time to buy a Dayton homes for sale

Here is the basic answer to this question.

It is typical for a purchase contract on a Dayton home for sale to state the closing will take place in 30 days.
1. That is negotiable between the home buyer and the home seller.
2. 30 is just the most common time frame for a Dayton real estate closing.
As a general rule if there is a mortgage loan involved the transaction will need a min. of 2 weeks to complete all the steps listed above and the untold number of issues that arise in a typical Dayton home sale.
It is not uncommon for closings to be negotiated for somewhere between 30-60 days on Dayton homes for sale.
1. This could be for several reasons but is ultimately determined by the home buyer and home seller...
  1. Need for home seller to find a home of their choice.
  2. Need for the home buyer to sell their existing Dayton home for sale
  3. Home buyer has a lease that will expire at a later date.
  4. Home buyers or home sellers want to wait until a certain date due to job, school or other date specific event.
  5. Could be hundreds of reason these are just a few.

I hope this helps to understand the basic process of Dayton homes for sale to Dayton real estate sold...

We are here to answer any of your Dayton Ohio real estate questions or any surrounding areas. Please contact us anytime.

Rules for Buying Dayton Homes for Sale (part 2)

Buy NOW: Mortgage Rates are LOW...

There are a lot of homes for sale in Dayton Ohio area. So if you are looking for homes for sale in Dayton then the selection is great.

What about Dayton Ohio area mortgage rates? Here is how rates work...

The Federal Reserve actually has nothing to do with mortgage rates directly.
Mortgage rates more closely follow the bond market and the expectations for inflation.
Rates now vary from about 6% to 6.5% for a 30 year fixed rate mortgage.
The expectation is that by next year rates will be around 7%.

That means that there is a very REAL penalty for waiting... it sounds good but waiting could cost you thousands in higher mortgage payments... Dayton Ohio real estate is a great deal right now.

Check out my post on Rules for buying Dayton Homes for sale for other things to consider when looking for Dayton homes for sale or buying Dayton Ohio area real estate.

Increased mortgage rates = less home buying power

Consider this example
- If you can buy a $150,000 home today at 6.25%
- If mortgage rates go up to 7% in the next year...
- Then you could only buy a Dayton homes for sale of about $138,000
- That's almost an 8% drop in the price of home you can buy.

So if you wait prices may come down but if rates go up... you should buy NOW even if home prices continue to drop... which I think they WILL... they wont drop more than the 8% you stand to loose in waiting...

So start looking right now at all the great deals that are available in Dayton Real Estate. You can search every home listed for sale in Dayton real estate right here on my site... Just click the Search Dayton Homes for sale button at the top of the page and you are started on you way to buying a Dayton homes for sale.

Rules for Buying Dayton Real Estate

You can't time the bottom...

You can pick a great house...

Here is the reality of the current Dayton Ohio Real Estate market.

If you buy today there is a good chance it will be less a year from now.
There is an incredible selection of Dayton homes for sale available now.
Mortgage rates are still at all record lows.
This is the best buyers market in decades.

So, if you are considering buying Dayton Real Estate this is a great time. You may be tempted by the information above to try and wait till the "bottom" of the market. Sounds like a good plan on the surface but what are the possible downfalls?

It is very hard to time the "bottom" of the market and you just my miss it...
It is even more likely that you will miss out on the right home for you...
Even more likely... that mortgage rates in the Dayton Ohio Real Estate market will increase.
With increased mortgage rates comes less buying power.
- Follow this example.
  - You qualify today to purchase a $150,000 home at 6.25%
  - If mortgage rates increase to just 7% in the next year.
  - Then you would only qualify for about $138,000 home.
  - That is about an 8% drop in your buying power...
  - Dayton homes for sale may decrease in value 1-5% at most in the next year.
- So, you are WAY ahead to buy Dayton real estate now rather than wait.

I know this is not what you may hear from your friend or on the news. feel free to call and we can discuss this even more if you like. Check out all the Dayton homes for sale here...