Valerie Lai, NerdWallet Published 11:00 am CDT, Friday, August 17, 2018 This article was first published on NerdWallet.com. In this series, NerdWallet interviews new homeowners across the country about their unique homebuying journeys and the financial decisions that helped them get there. In May 2016, Nelson and Chelsea Mead bought their first home in Cincinnati, Ohio. The couple, who first met after being set up by friends as high school prom dates, had a goal that many couples share: to find a house in a good school district so that they could start a family. (The Meads, who are both 29, now have a 5-month-old son.) Nelson, a commercial lending underwriter for a bank, told us about how he and his wife, who owns a jewelry business, found and saved up for their three-bedroom ranch. Their real estate agent also shared tips for first-time home buyers in the area. (This transcript was lightly edited for clarity and length.) What brought you to Cincinnati? Home & … [Read more...] about How I Bought a Home in Cincinnati
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Finding a dream home in Colorado Springs turning into a nightmare
Find it. Buy it. Love it.That’s how the American dream of buying a home is supposed to work. For many people, it still does.But in one of the tightest housing markets Colorado Springs and the Pikes Peak region have seen in decades, finding that dream home too often can be a nightmare. Some buyers endure a painstaking, monthslong search filled with frustration as they struggle to find a house they can afford, in a neighborhood they like and with amenities they want. Business Challenges await Colorado Springs-area buyers in a tight housing market Rich Laden Over the past 2 1/2 years, the supply of Colorado Springs-area single-family homes listed for sale each month has dropped to levels not seen in at least the past quarter century, based on Pikes Peak Association of Realtors data. Just 1,229 homes were on the market in February — one of the lowest totals for any month in the past 20 to 25 years.In somewhat of a turnaround, listings rose to 2,385 in July, the most … [Read more...] about Finding a dream home in Colorado Springs turning into a nightmare
In Colorado Springs, finding a dream home can be a nightmare as demand outstrips supply
Find it. Buy it. Love it.That’s how the American dream of buying a home is supposed to work. For many people, it still does.But in one of the tightest housing markets the Pikes Peak region has seen in decades, finding that dream home too often can be a nightmare. Some buyers endure a painstaking, monthslong search filled with frustration as they struggle to find a house they can afford, in a neighborhood they like and with amenities they want.Over the past 21/2 years, the supply of Colorado Springs-area single-family homes listed for sale each month has dropped to levels not seen in at least the past quarter century, based on Pikes Peak Association of Realtors data. Just 1,229 homes were on the market in February — one of the lowest totals for any month in the past 20 to 25 years.In somewhat of a turnaround, listings rose to 2,385 in July, the most for any month since September 2016. Yet, last month’s supply was still low by historical standards; July listings … [Read more...] about In Colorado Springs, finding a dream home can be a nightmare as demand outstrips supply
What home inspectors can and cannot tell you
After all the house hunting and hand-wringing, you’ve finally made an accepted offer on a home. Now, if you’re like many buyers, you’ll hire a home inspector to cast a critical eye on the property. It’s a crucial step that forces buyers to think more objectively about their purchase, said Liz Martin, a home inspector in Brookline. “The issue is no longer whether the bedrooms are sunny or proximity to transportation,’’ Martin said. “Instead it becomes, ‘What shape is this house or condo in, and can I afford the repairs and the maintenance?’ ’’ But while a good inspector can give you a thorough assessment of the home’s condition, alerting you to potential safety hazards, problems big and small, and what costly repairs might be in your future, there’s a limit to what they can tell you — and even the best ones can’t see through walls. “People can have the mistaken idea that the home … [Read more...] about What home inspectors can and cannot tell you
‘Craziness’: Intense home bidding wars hit the Lehigh Valley
Lindsay Fleishman and Dan Remenowsky spent several weekends preparing their East Allentown home for a quick sell: a deep clean, a purging of clutter and personal mementos, a message of welcome written on a small chalkboard.But then it was all over in a flash. Three days, 21 showings, eight offers — all at or above asking price.“We had heard it was a sellers’ market, and we were expecting that it was going to go quickly, but not that quickly,” Fleishman said a few days after settling on an offer $5,600 above their listing price of $169,900 in mid-April.Theirs is a refrain ringing throughout the Lehigh Valley this season: extremely low inventory forcing buyers into intense bidding wars, where the weaponry includes highest offers, deals without terms or contingencies, inspection waivers and — at times — personal letters of appeal.In a word, ReMax agent Michael Bernadyn said: “Craziness.”This is the fallout from the final three months of … [Read more...] about ‘Craziness’: Intense home bidding wars hit the Lehigh Valley