The Ohio Primary and Real Estate

By John McGory

The traveling political circus known as the presidential primary comes to Ohio this week.  Ohio is the main target for the Republican candidates. 

The Real Estate Swami will be listening for credible ideas from the candidates on how they plan to improve Ohio’s economy.

“Ohio’s economy, led by the real estate and building industry, has suffered long enough.  People of Ohio are hurting and need help.  We need enlightened leaders who put positive results ahead of poll numbers,” says the Swami. 

Swami credits Zillow.com for putting together a chart on where the presidential candidates stand on a few basic real estate issues. 

To see where each of the candidates stand go to http://www.zillow.com/blog/2012-01-20/what-are-the-presidential-candidates-positions-on-housing-plans/

The Swami encourages Ohioans to ask questions of the candidates via social media.  You can go to the candidates’ Facebook pages to get an idea of their positions on issues and what the campaigns see as important enough to post.

Here are the links to the four main candidates:

http://www.facebook.com/#!/barackobama

http://www.facebook.com/#!/mittromney

http://www.facebook.com/#!/RickSantorum

http://www.facebook.com/#!/newtgingrich

“It is important that we take the time to ask questions of the candidates and ponder where we go from here.  Real estate is the backbone of our country.   We need to protect and encourage home ownership and the candidates need to tell us how they plan to do it.  Glib 30-second sound bites will not work,” says the Swami.

John McGory is a licensed Realtor and is a partner in Webface, a content marketing company (www.web-face-solutions.com).  You can reach him at jrmcgory@gmail.com.

Your Drop in the Bucket

By John McGory

The Real Estate Swami asks a favor of you.  Answer this simple question:  Are you environmentally friendly?  Most of you will answer yes, as did the swami.  But the swami knows he can be a better steward of the environment. 

The Swami found this list of ten tips to help him keep the environment in mind as he lives his modest life.  He would like to share it with you.

1.  Turn off lights when you are not in a room.  The mind sometimes forgets the little detail of flipping a switch.

2.  Don’t let the water run unnecessarily when brushing teeth and washing dishes.

3.  Upgrade insulation, especially in older homes.

4.  Check for air leaks around windows and doors.

5.  Buy earth friendly cleaning products including laundry detergent.

6.  Buy energy efficient light bulbs.

7.  Use cloth diapers.  A disposable diaper takes 500 years to biodegrade in a landfill.

8.  Unplug appliances when not in use.

9.  Look for Energy Star products.

10.  Recycle.

These are a few ideas that will allow us all to help the environment.   Many of you are already doing these and more.  The Swami begs a thousand pardons from you for not always doing his part for the environment.  He asks to keep the words of Mother Teresa in mind when considering if our small effort at helping the environment is worth it.

“We ourselves feel that what we are doing is just a drop in the bucket.  But the ocean would be less because of that missing drop.”

Everyone’s home is a nicer place if the environment is clean.  If you have questions regarding your home or you know someone who does, send us an email and we will help you find the answers.

John McGory is a central Ohio residential and commercial Realtor.  He is also a partner in Webface, a content marketing company (www.web-face-solutions.com) He can be reached at jrmcgory@gmail.com

The Swami and Home Equity Insurance

By John McGory

A new wrinkle in the real estate world is the home equity insurance programs being promoted by Home Value Protection and other insurers.  The Real Estate Swami says all should move carefully when considering such policies.

The equity insurance programs are aimed at protecting homeowners from steep drops in the value of their home.   

Here is how it works.  Insurance buyers pay a monthly premium.  The insured will collect on the policy if both of the following happen.  One, the house sells for less than the value determined on the policy.  And two, homes throughout the area have dropped overall according to a national home price index. 

So if your home drops 20 percent but the overall market only drops two percent, then the policy will pay you two percent of your losses, not 20 percent. 

The Real Estate Swami says there are several considerations to keep in mind if you are considering purchasing a home equity insurance policy.

“In the past five years local home prices have dropped 11 percent.  It is likely we are near the bottom since little new housing stock is being added to the market.  Also, home equity insurers targeted central Ohio because of stable home prices.  While certain neighborhoods may continue to suffer, it is unlikely our regional price index will drop another 11 percent,” says the Swami.  “Keep in mind your payment is based on the percent drop of the entire market, not your individual home.”

The Swami says if the entire market does drop another 11 percent in the coming years, then the chances of the home equity insurance companies surviving would be slim. The best advice is to continue to try and build equity in your home.

“Pay yourself,” counsels the Swami.  “Reducing the principle on your loan each month by paying a little extra will put you in a better position when you sell than most insurance policies.”

John McGory is a licensed real estate agent in central Ohio.  He is also a partner in Webface, a content marketing company.  Get more information at www.web-face-solutions.com