Future building site located on Northridge Heights Drive, great wooded lot located across the street from Waterfront Homes, located in Howard township and in East Knox Schools, county water and sewer available, assessments are paid, approximate lot dimensions: Front: 75’, Rear: 60’, Right: 232.13’, Left: 218.53’, copies of the plat map and GIS map available upon request. $5,000

North East ranch home within walking distance of the Mount Vernon Hiawatha Water Park, the floor plan features 2-3 bedrooms, nice sized living room with an adjoining dining room, spacious eat in kitchen with newer oak cabinetry, situated on a low maintenance and easy care level lot, natural gas heating, covered front porch, 1.5 car garage, low maintenance vinyl sided exterior, this property will make someone a super affordable home or it could be a great rental property, special financing available so be sure to ask for details. $59,900.

Country property near Knox Lake, Fredericktown Schools and situated on an impressive 2.5 acre setting with a huge 40 x 42 pole barn plus an attached workshop, ranch design home that has had some updates including newer windows, the home is in good shape but needs some updating and finish work, the interior design is a large floor plan with 2 big bedrooms, a huge living room, large kitchen with lots of cabinetry and a nice dining area which opens up onto a great deck that is perfect for cookouts and BBQ grilling, full basement with half bath and great storage space, this home is an excellent opportunity at $75,000

Centerburg country home that is located on over 3.9 acres, the floorplan features 3 bedrooms and 1 ½ baths, a great size living room, adjoining dining area that is partially open to the cabinet filled kitchen that features a breakfast bar, big master bedroom with it’s own private deck, full basement with a walkout door and lots of bonus space, relaxing deck plus a gazebo that overlooks the flowing creek, attached 2 car garage with paved drive plus a 24 x 32, forced air heating and central air plus a wood burning stove, low maintenance vinyl siding, this is a nice country property and it is located in the Centerburg School District. $189,500

VIRTUAL TOUR 

Cozy ranch home located in the North end of Mount Vernon, situated on a easy care corner lot, features include 3 bedrooms and a full main level bath with shower, upon entering you’ll find a large living room, adjoining eating area with a galley style kitchen and plenty of counter and cabinet space, full basement offers an abundance of storage space, conveniently attached 2.5 car garage with nice concrete driveway, natural gas forced air heating and central air conditioning, tree shaded back yard and a covered patio, low maintenance brick and stucco exterior, special financing available on this home, priced right at $89,900.

Nicely updated home that has been extensive remodeled with modern features, this is a super affordable home the monthly payments could be less than or similar to renting a comparable home, the interior features a large living room and an adjoining eat-in kitchen with updated cabinetry and an easy care laminate flooring, convenient main level laundry area, 2 nice sized bedrooms and a full main level bath with shower, natural gas heating and central air conditioning, low maintenance vinyl sided exterior, covered front patio and a fenced in back yard, located in Twin Oak Elementary School district, special financing available through First Knox National Bank. $59,900.

Cute little starter home or rental property, convenient North end location overlooking the Knox Country Fairgrounds pond, the floorplan includes 2 bedrooms, full bath with shower, a nice sized living room and an updated eat-in kitchen with range and refrigerator, super convenient main level laundry, natural gas heating and low maintenance vinyl siding, relaxing front deck is the perfect place for outdoor grilling, special financing terms are available on this property through First Knox National Bank, immediate possession available, low monthly payments combined with special financing will cause this home to sell quickly at $49,900.

Spectacular hilltop setting with gorgeous views of the countryside, situated back off the road on 9.47 acres of land, Cape Cod design with a covered front porch and featuring 3 bedrooms and 2 ½ baths, a large living room with an open staircase, gorgeous cabinet filled kitchen with Corian counters and a nice breakfast bar, adjoining dining area, large1^st floor master suite with private bath and jetted tub, convenient main level laundry room, semi finished lower level / bonus space, attached 2.5 car garage plus two huge garages / barns / workshop areas that measures 50 x 100 with 14 foot ceiling and concrete floor plus a 28 x 40 pole barn. You will be IMPRESSED! $275,000.

VIRTUAL TOUR 

Super cute ranch home located in the South end of Mount Vernon, conveniently located near schools and the Nazarene University, lots of recent updates and improvements including an updated bath and new vinyl siding and gutters, energy efficient insulation added to the attic, features include 3 nice sized bedrooms, large living room plus a main level family room, cozy eat in kitchen that includes the major appliances, level and easy to care for yard, covered rear patio overlooking the fenced in back yard, natural gas heat and central air conditioning, big basement with lots of storage space, quick possession available. $95,000

VIRTUAL TOUR 

Commercial location with over 2 acres of land and situated on the corner of State Route 13 and Upper Fredericktown Road, outstanding road frontage, corner parcel is zoned general business, high traffic location with tremendous visibility, multiple adjoining parcels of land with rental duplex. $300,000.

"Current appropriated funds have been exhausted.   If we were unable to fund your loan, you will be notified in the next few days, please do not call or email us.  As many of you have been advised, the previous notice of the ability to issue conditional commitments subject to Congressional authority has been recalled.  We are waiting for further guidance on this from our National Office.  You will be notified when more information is available (we hope within the next 24 hours).  Please do not call our office or other RD offices as everyone will be notified when we have more information.

We do not know when additional funding may be available.  The House of Representatives have passed HR 5017 that would increase the guarantee fee and provide funding for the remainder of this Fiscal Year which runs until September 30, 2010.  The Senate has introduced a similar bill S 3266.  Both bills must be passed, reconciled if necessary, signed by the President and funds appropriated by our Office of Budget prior to funds being available."

From the sound of this e-mail the USDA / Rural Development loan program is no longer an option for future buyers until funds become available later in the year.  The fact that the USDA / Rural Development program has run out of funds is not new to the real estate industry but the fact that they are out of funds in the first 4 1/2 month of 2010 is a bit shocking.  I believe they are out of funds primarily because so many other loan programs have been eliminated and the USDA / RD loan program is one of the few remaining affordable loan programs.  The challenge for USDA is that they only have so much money available per their budget and the demand for low and zero down payment home loans has been extremely high especially during the First Time Homebuyer Tax Credit incentives.

If you are interested in buying a home in Knox County, Ohio but are concerned because you do not have much cash saved for your purchase be sure to contact us because we have some additional options and creative ideas that could help you.  (740) 397-7800 or samsells@sammiller.com

Sam Miller  

Another important date to keep in mind is June 30th, 2010.  This is the date your future home transaction must be closed in order to take advantage of the tax credit.  Many people do not realize that this is not a tax deduction but an actual tax credit.  If you qualify for the tax credit and you bought an $80,000 or higher home you would qualify for an $8,000 check from the IRS.  If you normally get about $2,000 from the IRS as a tax refund, you should get $10,000 back when you either file your taxes.  Something often overlooked is the ability to amend your prior year tax return and get the $8,000 check back typically within 6 to 8 weeks.

If you are serious about taking advantage of this huge home buyer incentive please contact us as soon as possible because you will need adequate time to select a suitable home and you will need a few days cushion to negotiate your contract to purchase.  Remember, the contract must be fully negotiated and accepted no later than April 30th, 2010.  Give us a call at (740) 397-7800 or email us for all of your Knox County Ohio real estate needs.  

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1. FHA Financing Allowed for Properties Being Resold within 90-Days.  FHA is allowing the use of FHA financing for properties being resold within the 90-day period after the previous acquisition. This is not limited to foreclosed properties. The purpose is to encourage investors that specialize in property renovation to acquire foreclosed and abandoned homes in an effort to increase the availability of affordable homes for homebuyers. In effect for all sales contracts executed on or after February 1, 2010 and will remain in effect for one year unless extended or withdrawn by the commissioner.
2. Maximum Seller Contributions Reduced to 3%.  Seller contributions to pay borrower closing costs is currently 6%, but will drop to 3%. Using $100,000 purchase price, that is $3,000 less the seller could contribute. This will go into effect this summer.
3. Up-front Mortgage Insurance Increased to 2.25%.  The Up-front Mortgage Insurance that FHA requires on most of their loans will be increased from 1.75% to 2.25%. This amount is added to the final loan amount, so there will not be additional funds needed at closing from the borrower. Good news is they will continue to allow this to be financed! Effective for FHA case numbers assigned on or after April 5, 2010.
4. Monthly Mortgage Insurance Premium (MIP).  They are pursuing legislative authority to allow flexibility to bring the annual MIP higher (currently capped at .55) so they can shift some of the premium increase from the up-front MIP to the annual MIP. The annual MIP is paid over the life of the loan instead of at the time of closing so this will reduce the impact to the borrower. This is still pending.
5. Low Credit Scores.  Borrowers with credit scores below 580 will now be required to put a least 10% down. This is kind of a non-issue because few lenders that offer FHA loans will accept credit scores below 620 in today's market. This will go into effect this summer.

According to USDA they have stated that "Once funding is exhausted, the Agency will not issue Conditional Commitments subject to receipt of appropriate funds. This is because it is not certain when additional funding will be available."  What this means to many homeowners is that if they wait until the last minute to take advantage of the First Time Homebuyer Tax Credit and they intend to use the USDA loan program there is a VERY good chance there will not be money available to fund the loans.  The bottom line is that you could likely lose out on this super affordable loan program AND you will lose out on the opportunity to take advantage of the tax credit and the potential of getting your $8,000.

The solution is to act fast and get your new home under firm contract as quick as possible and get your loan application started.  If you wait to get a home under contract towards the end of the first time homebuyer tax credit you will likely miss out entirely.  If you would like us to get your home purchase on the fast track send us an e-mail right away or give us a call at (740) 397-7800.

Sam Miller

UPDATE on May 13th, 2010:  

We just received an e-mail from one of our lenders confirming that Rural Development / USDA has ran out of available funding.  I will update you once I hear anything new.

Knox County, Ohio February Home Sales By Price Range

As of February 28, 2010 there are 292 homes listed in the Knox County MLS for sale . The average list price of these homes is $155,501 with a combined total dollar value of $45,406,353.

Watch for our regularly posted monthly statistics and if you would like to be kept up with the latest news on real estate listings in Knox County, Ohio, be sure to register for our automated Knox County, Ohio Listing Notification System at EmailKnoxCountyHomes.com.
 
View our Knox County Ohio Homes For Sale.

 

*All sales statistics are as reported to the Knox County MLS on March 1^st, 2010.

The table below shows the number of Knox County, Ohio homes sold and the price ranges they were sold.

As of January 3, 2010, there are 263 homes listed in the Knox County MLS for sale.  The average list price of these homes is $157,775, with a combined total dollar value of $41,495,059.

Watch for our monthly statistics and if you would like the latest news on our real estate listings in Knox County, Ohio, be sure to register for our automated Knox County, Ohio listing notification by clicking here.

View our Knox County, Ohio listings here.

* All sales statistics are as reported by the Knox County MLS.

Knox County, Ohio December Home Sales By Price Range

 
As of January 3rd, 2010 there are 263 homes listed in the Knox County MLS for sale . The average list price of these homes is $157,775 with a combined total dollar value of $41,495,059.

Watch for our monthly statistics and if you would like to be kept up with the latest news on real estate listings in Knox County, Ohio, be sure to register for our automated Knox County, Ohio Listing Notification at EmailKnoxCountyHomes.com.
 
View our Knox County Ohio Homes For Sale

*All sales statistics are as reported to the Knox County MLS

Did you know that a high percentage of the homes that are foreclosed on could have avoided foreclosure and the owner could have sold the home through a REALTOR?  This is where the term Short Sale comes into play.

The Short Sale Explained.  (Just click the play button) 

In today's current housing market, many people owe more on their home than their home is worth.  There are many reasons a homeowner may owe more on their home than it is currently worth and here are some examples:

1. This may have happened because the value of the home simply dropped.
2. They refinanced their original loan and rolled the closing costs into the new loan.
3. They may have added a home equity loan and financed the closing costs into the loan.
4. They did a cash out refinance to pay off other consumer debts, vehicles and credit cards.
5. Many owners refinance to pay unexpected medical bills or funeral expenses. 
6. Divorces, in many cases, create the need to refinance a home when one of the spouses wants to maintain ownership of the home and often at that point they are required to remove the ex spouse from legal ownership and financial obligation.
7. There are dozens of reasons why someone might owe more on their home than it is worth and in many cases it could even be a combination of any of the items listed above.

The Knox County Board of Realtors reported 42 residential home sales throughout Knox County including Mount Vernon, Centerburg, Gambier, Howard, Apple Valley, Fredericktown and the smaller villages. The average sales price for the Knox County, Ohio homes that sold in November was $111,068. The lowest priced home that sold was a bank repossession which sold for $33,000.  The highest priced home closed at $232,000.

November 2009 Compared to November 2008

I do extensive monthly market research and have completed monthly market studies for more than 15 years. When I pulled last years November 2008 home sales statistics, I compared them with the November 2009 statistics and the comparison made me smile. This November we had 42 homes sales and last year in the same time period we only had 29 home sales. That is a huge difference and that amount of increase in any market is considered BIG.  Here are the results for November 2009:

Number of Homes Sold	Price Range
13	$74,900 and under
7	$75,000 - $99,000
8	$100,000 - $124,999
3	$125,000 - $149,999
5	$150,000 - $174,999
3	$175,000 - $199,999
3	$200,000 and higher

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Click Here for our featured properties!!!  Some of the best property for sale is displayed right here. As experts in the Knox County real estate market, we can provide you detailed information on these homes, or any others!

*Disclaimer: The Knox County Board of Realtors MLS statistics as of December 1st, 2009

You may have heard the exciting news that the First Time Homebuyer $8,000 Tax Credit has been extended.  This will prove to be great news for thousands of Knox County, Ohio homebuyers and many existing homeowners who qualify for this financial incentive.  I asked national real estate expert David Knox to help me explain the benefits of this extended and revised tax credit.  In order for you to take advantage of this incentive you will need to buy and close your transaction before the tax credit deadline.

Knox County, Ohio has great properties for sale.  We can show you any property listed in the Knox County MLS.  The Sam Miller Team is proud to feature the following listings.  Contact us today for your private tour:

$100,00 and less
$100,000 - $150,000
$150,000 - $200,000
$200,000 - $300,000
$300,000 and up

Not only do we specialize in single family homes, but we also specialize in condominiums.  Click here for our complete list of Mount Vernon, Ohio condominiums.

Are you looking for a place to call home in Knox County, Ohio where you can spread out?  Click here to see our amazing properties with acreage.

Apple Valley Lake is a beautiful resort community located in Howard, Ohio.  One of it's incredible assets is the pristine lake that is perfect for all sorts of water sports throughout the year!!  Click Here for our complete list of our properties for sale in this fantastic community!

Interested in a bank owned property?  Search our list of bank owned homes in Knox County, Ohio.

For real estate listings sent directly to your inbox as soon as they hit the market, click here. 

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