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One Line Report
Property Type  Residential     Area  Bath Status  Active
Listings as of 12/16/09 at 3:29pm

Property Type: Residential
Status DOM/
CDOM Status
Date Listing# Price Address City Area   BD   BA Lot Size Approx Finished SqFt

——————————————————————————–

Active 494/494   01/21/08 1503280 399,000 221 Lake Pointe Dr Akron Bath 3 4 0.091 3944
Active 733/733   12/06/07 1498263 1,399,000 2881 Walnut Ridge Rd Akron Bath 4 5 13.800 5106
Active 682/1396   02/01/08 1505093 2,450,000 2879 Sourek Rd Akron Bath 5 8 9.600 10300
Active 644/644   03/07/08 1509398 925,000 2086 N Medina Line Rd Akron Bath 4 5 7.260 4085
Active 640/640   03/10/08 1509766 175,000 2896 Burr Oak Dr Akron Bath 4 3 0.293 2522
Active 616/860   04/07/08 1513404 229,900 2710 Walnut Ridge Rd Bath Bath 4 4 2.000 1991
Active 594/923   04/24/08 1515981 999,999 1396 Sand Run Rd Akron Bath 4 5 6.250 7816
Active 485/485   08/15/08 1532851 1,999,000 2885 Roundhill Dr Bath Bath 5 8 2.630 11500
Active 411/411   10/27/08 1541493 229,000 1645 Orchard Dr Bath Bath 3 3 1.790 1592
Active 380/380   11/21/08 1544247 217,000 781 Ghent Rd Fairlawn Bath 3 2 1.120 1170 Read the rest of this entry »

Bath MLS Report 12/8/2009

Bath MLS Report 12/8/2009Print this page
One Line Report
Property Type  Residential     Area  Bath Statuses  Active, Contingent
Listings as of 12/08/09 at 11:43am

Property Type: Residential
Status DOM/
CDOM Status
Date Listing# Price Address City Area   BD   BA Lot Size Approx Finished SqFt

——————————————————————————–

Active 404/404   10/29/08 2497890 189,900 3489 Tee Akron Bath 3 3 1.600 1864
Active 321/1057   01/21/09 1549385 699,900 4700 Barnsleigh Dr Akron Bath 4 5 1.500 3454
Active 308/308   02/02/09 3001215 269,000 2118 N Medina Line Rd Bath Bath 4 3 76666 2200
Active 296/296   02/14/09 3005426 379,900 2180 Anthony Dr Akron Bath 3 3 54014 4512
Active 294/294   02/17/09 3005830 175,900 2541 Olentangy Dr Akron Bath 4 3 16320 1848
Active 285/285   02/26/09 3009065 595,000 2615 N Revere Rd Bath Bath 4 5 9.520 4310
Active 282/282   02/28/09 3009186 899,000 3315 Shade Rd Akron Bath 5 5 37.440 4852
Active 274/274   03/08/09 3011434 889,000 2087 Firestone Trace Blvd Akron Bath 3 4 43595 4672
Active 266/266   03/16/09 3013330 209,900 1550 Mcvey Rd Bath Bath 4 3 1.420 2074
Active 264/264   03/16/09 3013548 679,000 3475 W Bath Rd Bath Bath 6 7 3.840 4930
Active 164/164   06/26/09 3045434 569,000 970 Robinwood Hills Dr Bath Bath 4 6 65340 4712
Active 164/164   06/27/09 3045977 624,900 3770 Winterberry Dr Akron Bath 4 6 1.970 4691
Active 159/159   07/01/09 3046829 1,295,000 2196 Firestone Trace Blvd Bath Bath 5 6 1.270 7200
Active 159/159   07/01/09 3047959 1,449,500 2131 Charles Ln Akron Bath 5 6 3.350 7000
Active 151/212   07/09/09 3049494 307,900 887 Willow Creek Dr Akron Bath 4 4 6954 3280
Active 147/147   07/13/09 3050549 585,000 1356 Foxchase Dr Akron Bath 4 4 4.460 4492
Active 150/150   07/10/09 3050818 599,000 4001 Meadowvale Ct Bath Bath 4 4 1.000 4375
Active 151/151   07/10/09 3050821 859,900 4821 Arbour Green Dr Akron Bath 5 5 65340 5140
Active 146/146   07/14/09 3051173 269,900 1962 N Revere Rd Akron Bath 3 2 1.600 3549
Active 143/143   07/17/09 3051487 1,100,000 3987 N Shore Dr Akron Bath 4 7 1.260 6948
Active 145/145   07/16/09 3052472 279,900 2356 Shade Park Dr Akron Bath 4 3 3.070 2550
Active 133/133   07/27/09 3053648 549,900 4747 Granger Rd Akron Bath 4 3 14.610 2532
Active 132/132   07/28/09 3054742 549,000 2997 N Martadale Dr Akron Bath 4 4 3.250 5152
Active 129/129   07/31/09 3055742 499,000 690 Trellis Green Dr Bath Bath 4 3 1.500 3200
Active 129/738   07/31/09 3055747 499,000 4900 Arbour Green Dr Bath Bath 4 3 1.500 3200
Active 128/128   08/01/09 3056477 249,900 1837 Orchard Dr Akron Bath 4 3 5.600 2257
Active 125/125   08/04/09 3057215 699,900 4274 Bridle Trail Bath Bath 5 5 0.990 5137
Active 126/126   08/04/09 3058041 369,900 2800 W Bath Rd Bath Bath 4 3 1.430 3700
Active 118/118   08/11/09 3058957 589,000 1972 Firestone Trace Blvd Akron Bath 4 4 44004
Active 91/91   08/11/09 3059092 449,000 4836 Pin Oak Rd Akron Bath 5 6 3.530 5100
Active 117/545   08/12/09 3059456 429,900 3138 Ira Rd Akron Bath 4 3 3.000 3100
Active 119/119   08/11/09 3059617 248,000 3466 Green Dr Akron Bath 5 4 45738 4686
Active 115/317   08/14/09 3059601 549,000 4261 Bridle Trail Akron Bath 4 3 61319 3200
Active 116/116   08/14/09 3060058 294,900 863 Willow Creek Dr Bath Bath 4 4 5916 3356
Active 116/116   08/14/09 3060219 698,000 3630 Shade Rd Bath Bath 5 6 2.366 6500
Active 89/774   09/09/09 3067095 479,900 2788 Goldleaf Dr Akron Bath 5 5 0.800 5000
Active 90/90   09/09/09 3067997 225,000 724 Diandrea Dr Akron Bath 4 3 34860 2016
Active 89/388   09/10/09 3068034 229,900 976 Alder Run Way Akron Bath 2 2 0.122 1734
Active 88/88   09/11/09 3068346 237,000 2056 Lakeview Dr Akron Bath 3 2 75359 1725
Active 81/81   09/17/09 3069466 165,000 4273 Granger Rd Bath Bath 4 2 2.000 2208
Active 82/82   09/17/09 3069523 334,900 532 Rotunda Ave Akron Bath 4 3 3.680 2828
Active 83/83   09/15/09 3069609 199,000 3440 Tee Dr Akron Bath 5 2 53143 2586
Active 81/81   09/17/09 3071428 449,900 4070 W Bath Rd Bath Bath 3 4 60113 3222
Active 76/76   09/22/09 3071484 259,900 4734 Granger Rd Akron Bath 4 3 94525 2212
Active 74/74   09/24/09 3071855 359,900 1206 Ghent Hills Rd Akron Bath 3 3 3.780 3223
Active 73/252   09/25/09 3071657 439,000 3340 Autumn Ln Akron Bath 5 4 128066 3908
Active 73/73   09/25/09 3072289 329,900 689 Westridge Rd Akron Bath 4 4  3091
Active 70/70   09/28/09 3072388 189,900 1966 Kemery Rd Akron Bath 3 2 1.870 1400

Presented By: Ken J Azar III / Howard Hanna Phone: 330-687-3675
Featured properties may not be listed by the office/agent presenting this brochure.
All information herein has not been verified and is not guaranteed

One Line Report
Listings as of 12/08/09 at 11:43am

Property Type: Residential
Status DOM/
CDOM Status
Date Listing# Price Address City Area   BD   BA Lot Size Approx Finished SqFt

——————————————————————————–

Active 70/70   09/28/09 3073404 219,000 971 Alder Run Way Akron Bath 3 3 4896 1978
Active 68/160   09/30/09 3073642 523,080 538 N Hametown Rd Akron Bath 5 5 79715 5812

Presented By: Ken J Azar III / Howard Hanna Phone: 330-687-3675
Featured properties may not be listed by the office/agent presenting this brochure.
All information herein has not been verified and is not guaranteed

Lenders across the country have begun to gear up for new FHA condo standards which will begin October 1st.

The revised FHA mortgage rules were announced in a June letter to lenders from HUD. The bottom line is that if you now have a condo and want to finance or refinance with an FHA-backed loan, the process will now be more difficult. Here are some of the standards that HUD is requiring.

First the good news: Project approval is NOT required for FHA to FHA streamline refinances or for FHA/HUD Real Estate Owned (REO) sales. If you’ve got an FHA loan and want a streamline refinance you’re golden.

Ineligible properties include condominium (“condotels”), timeshares or segmented ownership projects, houseboat projects, multi-dwelling unit condominiums [i.e. more than one dwelling per condominium unit], and all projects not deemed to be used primarily as residential.

Here are some additional standards for condo properties, as explained by HUD:

• At least 50 percent of the units of a project must be owner-occupied or sold to owners who intend to occupy the units. For proposed, under construction or projects still in their initial marketing phase, FHA will allow a minimum owner occupancy amount equal to 50 percent of the number of presold units (the minimum presales requirement of 50 percent still applies).
• No more than 15 percent of the total units can be in arrears (more than 30 days past due) of their condominium association fee payment.
• Projects consisting of three or less units will have no more than one unit encumbered with FHA insurance.
• Projects consisting of four or more units will have no more than 30 percent of the total units encumbered with FHA insurance.

David Reed, the author of Mortgage Confidential: What You Need to Know That Your Lender Won’t Tell You and a mortgage lender based in Austin, Texas, points out that the standards established under the new FHA rules may represent minimums rather than maximums.

For instance, the FHA might say that 50 percent of all units must be owner-occupied, but a lender might require 60 percent or even 70 percent.

Another potential problem, according to Reed, concerns litigation. When a condo project is being sued lenders may not want to finance individual units because of potential liabilities. For instance, if a condo project loses a suit and each unit owner must pay a big special assessment, that would be an additional risk to lenders — and not without reason.

The problem is that the litigation, even if minor, might delay or stop lender interest in a property.

The bottom line looks like this: If you’re refinancing a condo and now have FHA financing you should be fine. If you’re buying or selling a unit after November 2nd, FHA-backed financing may be tougher.

In either case, be sure to speak with lenders, especially those who have already financed units at the project.

One of the functions of a homeowner association (HOA) is to enforce certain rules and covenants. It’s good to periodically review old practices to confirm that your HOA runs an effective rules enforcement program.

Generally, it is the board’s fiduciary duty to enforce the rules. But the board has some latitude when and what to enforce based on judgment. The key is for the board not to be capricious, selective or arbitrary in how it handles enforcement. It is impractical to expect that a board can maintain absolute vigilance and catch every rule violation. Instead, the board should react appropriately when informed of a violation by a reliable source.

Read the rest of this entry »

How much real wealth have Americans lost so far in the real estate crash?

The Federal Reserve estimates that the total market value of U.S. homes fell 18 percent from $21.9 trillion to $17.9 trillion or about $13,000 per person from the end of 2006 through March 31, 2009.

The Fed also estimates that homeowner’s equity has declined 40 percent from the peak and now accounts for just 41.4 percent of real estate values. By comparison, after the last slump in the 1990s, home equity levels remained in the high 50s.

This collapse in equity makes it difficult for potential buyers to sell their homes and trade up, which many experts say will weigh heavily on the housing recovery.

Is your home worth your asking price? The best way to answer that question is to separate what’s relevant to home buyers from what’s not relevant.

Starting with the bare basics, home buyers choose homes based on:

Price – their lenders tell them what they can afford
Location – they know where they want to live and why
Condition – they want homes that are well-maintained and move-in ready

They look at the available inventory – your home and its competition.  The greater the inventory, the more room they have to negotiate terms.

Read the rest of this entry »

Home Buyers May Qualify to Receive a Tax Refund

The Difference Between a Tax Credit and a Tax Deduction

A tax credit is applied directly to taxes owed. If you owe $8,500 in taxes and apply the $8,000 tax credit, your tax bill is reduced to $500. If you have already paid $9,000 through payroll deductions or estimated tax payments, you will get a refund of $8,500.

A tax deduction is a reduction against earned income. If you made $100,000, an 8,000 tax deduction would simply reduce that income for tax purposes to $92,000, and you would pay taxes on that lower income.

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Experienced homeowners share their secrets so you won’t make a rookie move

If you’re a first-time home buyer in this market, how could you go wrong? Nationally, sales prices of existing single-family homes are down nearly 24 percent since their July 2006 peak. Interest rates, recently 4.9 percent for a 30-year fixed-rate mortgage, are hovering near historic lows. And if that isn’t incentive enough, Uncle Sam is offering first-time buyers an $8,000 tax credit to further sweeten the deal.

But as any homeowner will tell you, the decision to buy a home is only half the battle. The real challenge is in the details of what, where and how much. Here are five first-time home buyer mistakes you don’t want to make.

1. Don’t think that “long term” is a couple of years.

Buying a home, especially now, requires long-term planning, not just with finances, but with your career and your personal life. “The old rule was to plan on owning the house for three to four years,” says Ben Hoefer, an agent with John L. Scott in Seattle. “I’m recommending that people think in terms of five to seven years.”

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