redfin columbus home buying class sept 2016

Home Buying ClassPresented by Joseph “Butch” Wahlsmith

Meet Joseph “Mr. Butch” WahlsmithButch has been a Columbus resident since 1986 and in residential real-estate for 16 years. Butch began his new real estate career in new home and condo sales for MI Homes and later, Schottenstein Real Estate Group. In 2009 Butch was recruited by HER Realtors as an area sales leader and quickly moved into developer account management (2008-2012) working with Michael Mahon. During this time he was being mentored by Michael and later promoted to General Manager and then, Vice President of HER Realtors, Builder Division.

About RedfinA Better Way to Buy & Sell

On Your SideRedfin agents are paid a salary and results of a survey each customer on our service and pay a bonus based on the review.

Smarter & FasterOur technology makes home tours, listing debuts, the escrow process, faster easier and worry-free.

You Get MoreCustomers save thousands due to our commission refunds and lower listings fees for full-service representation

100% Team SupportWe accommodate to your schedule by working with a team to tour homes and work on transactions.

Local Real Estate Trends1

Home Buying Process2

Finance Your Home3

The Closing Process4

Agenda

Break!

Local Real Estate Trends

Median Sale Price • Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center

• Updated every 15–30 minutes

Days On Market • Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center

• Updated every 15–30 minutes

Sale to List Percentage• Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center

• Updated every 15–30 minutes

Percent Sold Above Asking• Compare neighborhoods at the Redfin Data Center: redfin.com/blog/data-center

• Updated every 15–30 minutes

Be Prepared to Compete! Competing Against Multiple Offers

• In a hot real estate market, a home can receive multiple offers within hours of being listed for sale.

• When inventory is low and buyer demand is high, there’s often an increase in multiple-offer situations.

• Check out the top tactics Redfin Agents to give you an edge over the Competition.

Be Prepared to Compete 5 Tips for Winning a Bidding War

• Stay one step ahead of other homebuyers.

• Get pre-approved with a local lender & get underwriter approval.

• Start the conversation early.

• Write a letter & appeal to the seller.

• Know your limits.

Home Buying Process

Before You Buy

• Rent vs. own• Length of ownership• Life changes

(family, job)• Personal finances

Research1

Search for Homes2

Make Your Offer4

Closing Process5

Overview of the Home Buying Process

Finance Your Home3

Research

• Mortgage loans & pre-approval

• Home wish list• Location &

neighborhoods• Real estate agents &

reviews

Search for Homes

• Wish list for home features, # of bedrooms, etc.

• Check out open houses

• Save Searches on Redfin mobile app & redfin.com

• See homes in person with Book it Now on Redfin mobile.

How to Navigate Home Listings on Redfin

• Schedule a tour, agent review, number of beds/baths, favorite or x-out a home

Touring Homes is Simple with Book It Now

1 2 3 4

Break!

1 2Try book it now! Get an edge and set up Saved Searches for the neighborhoods and homes you’re searching for

Refill your drinks, stretch your legs & check out our mobile tools!

Finance Your Home

Meet Brian

Brian has been involved in mortgage lending for the last 15 years. Moving to a Community Bank in 2008 put him in the best position to help all of his customers for the long term. First Financial Bank offers all conforming loans, FHA, VA, and OHFA grants and seconds. In addition they have portfolio products which include construction and rehab loans.

Brian Hitchcock

First Financial Bank

Residential Mortgage Lending

547 High Street, Worthington OH 43085

614-260-5537

Brian@614-260-5537.com

Apply at www.614-260-5537.com 

Choosing a Lender

Redfin Open Book• Shows customer

ratings of local lenders

• Select your city in the dropdown on the right side

• Choosing a local lender vs. someone out of state

Redfin.com/openbook

Mortgage Rates

Getting Pre-Approved

Income• Salary — Past 30 days• Hourly — Consistency & History• Self Employed — Two-year average

Assets•Down Payment•Closing Costs•Cash Reserves

Credit• 640 for FHA• 680 for Conventional• 720 for Rate Improvement

Types of Loans

Conventional:• As low as 5% down• Fixed or adjustable rates, conforming or

non-conforming

Federal Housing Administration Loan (FHA):• Always have mortgage insurance• Buyers need only a 3.5% down payment

Jumbo Loan:• Larger down payment required• More restrictive debt-to-income ratios

VA Guaranteed Loan:• Veterans, active duty personnel,

reservists/national guard, surviving spouses

• No down payment

Make Your Offer

• Pricing & comparables

• Common contingencies

• Negotiations• Mutual acceptance

The Closing Process

The Closing ProcessYour offer is accepted,now what?

Deposit Earnest MoneyThis shows the seller you are serious about your offer

Title / AttorneyYour title company or attorney will review the ownership history and title for liens, encroachments and easements

Inspection / FinanceSchedule a professional home inspection and have your lender submit your loan paperwork.

Sign PaperworkTake your final walkthrough of the home then sign paperwork at your closing appointment

Accept keys, Redfin Refund!Your refund may be used towards closing costs. Don’t forget to fill out your survey!

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Congratulations! You Bought a Home!

Get MoreFrom Redfin

Explore our online tools,

Redfin Home Affordability Calculator, Redfin Home Value Tool, Book it Now, Redfin Data Center.

Take Redfin with youDownload the Redfin real estate app for iPhone, iPad, and Android.

Sell your homeHomes listed with Redfin are viewed three times as often as other homes and sell for $5,100 more on average — for only a 1.5% listing fee*.

Check out more classesIncluding market trends, mortgages, home selling classes, and more at redfin.com/events.

* Subject to Redfin’s minimum commission policy.

Joseph “Butch” WahlsmithJoseph.wahlsmith@redfin.com

Thank You For Coming!