Free Seminar: "Reducing Your Property Taxes"

Free Seminar for Greater Cincinnati Ohio Homeowners:

Reduce Your Property Taxes with Property Tax Valuation Appeals

Monday, February 22, 2010
6:00pm - 7:30pm
Sharonville United Methodist Church
3751 Creek Rd Sharonville, OH 45241

This seminar is free to the public.

Property taxes are one of the greatest expenses associated with property ownership, and they are ever increasing. Many owners are unaware that in each state and county, there is a legal right to challenge one's valuation. This process can result in a reduction of your taxes, and in some cases, a refund of taxes already paid.

Speaker: Christopher Finney, real estate attorney, has taught this seminar all over Cincinnati area

Hosted by: Dan Weis, RE/MAX Unlimited Realtors

Discover How To Appeal Your Property Tax Valuation & More...

1. Do you qualify for the Homestead Exemption?
2. Do-It-Yourself Explanation of Complaint Form
3. What happens at the Board of Revisions Hearing?
4. The 35% Calculation - They do it to confuse you!
5. Strategies To Help Determine Your Property Value!
6. Components of a Tax Bill - Real Example
7. The Right & Wrong Way To Fill Out Complaint
8. Get All of Your Questions Answered

RSVP to Amy White at acw@retaxsavings.com or 513-533-5155or Dan Weis at dan@danweis.com or 513-615-1890.

Ways To Stay Warmer This Winter

It seems like each year when I open up my utility bill that my energy costs keep going up. The U.S. Dept of Energy states that Midwest homes typically spend 40% of their annual home energy bill on heating.

So here's a few energy-saving improvements you can make this fall:

• Add another layer of attic insulation. As a general rule, most homes have less insulation than needed and blowing in more will reduce your costs and make your home more comfortable. (I'm calling an insulation company tomorrow to get an estimate for our home.)
• Turn on the humidifier. Additional moisture will increase the warmth in your home...(and you won't get shocked.)
• Put on a sweater before turning up your thermostat. Each degree increase can raise your fuel bill by 3%. (I'm always telling my family to put more clothes on.)
• Open your window coverings facing the south and west on sunny days to take advantage of the solar heat. (The sun's rays and warmth are free.)
• Change your furnace filters every one or two months. (Now I know everyone doesn't do this all the time - I do forget sometimes myself.)

Even if you only do one thing, it will make a difference in your heating bill. So what will you do for this winter?

2010 Tax Increase for City of Cincinnati Homeowners?

Can you help prevent City of Cincinnati property owners from getting slammed with a 2010 tax increase??

Elected officials within the city administration claim they cannot vote on their 2010 Property Tax Budget until Friday, November 13th, 2009. This is 100% completely FALSE! See the email (directly below) sent by Hamilton County Auditor Dusty Rhodes to all city officials yesterday.

October 21, 2009

Members of Cincinnati City Council:

Recently the Hamilton County Budget Commission allowed an extension (approved by the Tax Commissioner of Ohio) so that the City of Cincinnati could present more realistic revenue projections (specifically earnings tax related) for their 2010 tax budget. The Budget Commission had not wanted to act on the previously presented more speculative numbers.

Once the City had the benefit of seeing the September earnings tax collection and gaining the insights of whatever consultant had been retained new projections were shared, the Budget Commission promptly approved the tax budget. City Council is now in a position to also promptly approve it.

There is no requirement that Cincinnati City Council wait 30 days to act. Rather, Cincinnati City Council must act within 30 days.

Dusty Rhodes
Hamilton County Auditor
Secretary, Hamilton County Budget Commission

Now, please read the article from the October 21, 2009 edition of the Cincinnati Enquirer (directly below this email) which will provide you additional background information.

So what’s the bottom line?
It’s simple. Some members of the city administration are trying to hide behind the November 3rd, 2009 General Election as “cover” - not casting a public vote themselves until after all Cincinnati voters have already cast their vote for Mayor and Council!

There are four City Council incumbents who have already voiced their support of continuing the Property Tax Rollback. Those Councilmembers are: Jeff Berding, Chris Bortz, Leslie Ghiz and Chris Monzel. To Councilmembers Berding, Bortz, Ghiz and Monzel, we say thank you!!

Because Vice Mayor Crowley and Councilmember Qualls have already voted their opposition to continuing the rollback, we are left to wonder where Councilmembers Laketa Cole, Greg Harris and Cecil Thomas stand on this issue - in addition to Mayor Mark Mallory. (we have listed the contact information for both Vice Mayor David Crowley and Councilmember Roxanne Qualls so you can contact them too.)

Action Needed
Therefore, please contact Councilmembers Cole, Harris, Thomas, Mayor Mark Mallory and City Manager Milton Dohoney to voice your opinion about this attempted “November surprise.”

Ask them to (at the very least) put the Property Tax Rollback on the Monday, October 26th Finance Committee meeting and the Wednesday, October 28th City Council meeting.

If they don’t, Cincinnati Property Owners (residential AND commercial alike) will not know their public servants’ stance on this issue until AFTER casting their vote in the November 3rd General Election.

Councilmember - Phone - Email address
Laketa Cole 352-3466 laketa.cole@cincinnati-oh.gov
Greg Harris 352-5303 greg.harris@cincinnati-oh.gov
Cecil Thomas 352-3499 cecil.thomas@cincinnati-oh.gov
Roxanne Qualls 352-3604 roxanne.qualls@cincinnati-oh.gov

City Manager Milton Dohoney 352-3243 citymanager@cincinnati-oh.gov
Vice Mayor David Crowley 352-2453 david.crowley@cincinnati-oh.gov

Mayor Mark Mallory 352-3250 mark.mallory@cincinnati-oh.gov

5 Ways to Cut Heating Costs This Winter!

Now that the fall season is upon us and we're starting to turn our furnaces on with the cold nights, here's some suggestions to lowering your heating bill this winter:

• Let the sun help heat your home. During cold, sunny days, window curtains and drapes facing south and west should be left open.
• Make sure your furnace filters are clean. Dirty filters rob your home of proper circulation and wasted energy.
• Turn your thermostat down. When you're away for the day or in bed for the night, lowering your thermostat five degrees can result in energy savings. (Not recommended for most heat pumps)
• Insulate. Adding insulation is probably the single most important step you can take in energy conservation. Have an insulation company give you an estimate for blowing insulation into your attic.
• Humidify the air. Humidity in the air will make you feel warmer at a lower temperature. Replace the filter as often as needed.

Mortgage Modifications Gone Bad...

Story after story talks about how homeowners, who are attempting to modify their adjustable interest rate home loans to lower their payments, are now watching their monthly payments skyrocket.

Please don't get an adjustable rate mortgage (A.R.M.)!

I just read a story about a couple in AZ with a $550,000 home and they are trying to get a loan modification, because their interest rate is going to adjust (UP) to over $1,000 more per month. Most Americans cannot afford a jump in monthly payment like that.

When you are looking to purchase a home, only apply for a fixed interest rate mortgage. An ARM will only hurt you in the long run. If you have to get an ARM to buy a home, don't buy it!
ARMs are only a viable option for very few homeowners, yet during the years of 2003 - 2007 in a hot seller's market, many people got ARMs, because that was the only way to afford the home they wanted.

Now I'm not here to place blame. There's enough to go around for everyone, but the fact of the matter is if you can't comfortably qualify for a 30 year fixed rate mortgage on a home that you want, then you need to move down in price. The Financial Peace University Guy, Dave Ramsey, even talks about only taking out a 15 year mortgage.

You also need to remember that your total mortgage payment of PITI (principal, interest, property taxes & homeowners insurance) will go up from time to time, because even though your principal and interest are fixed, your taxes & insurance will increase over time.

So, when deciding on how much home you want to buy, make sure that you review your housing goals, stay within a comfort range for your monthly payment and don't buy a home that will keep you home all the time, because you won't have any money left over to enjoy life.

January 2008 Market Stats

Housing supply (Aborption Rate) is 14.4 months in January, up from last month by 4 months and up by 1 month during the same time last year. A "balanced market" rate is 5-6 months of listing inventory.

Looking back to 1990 through 2008 for the month of January, the sales level; dollar volume of sales and average sales price are at the 1996/1997 levels.

January 2009 sales were down 19.5% from January 2008. The average sale price was down 18.4%.

The active residential inventory continues to decline, down from 2008 and 2007 levels and almost equaling 2006...this is good. Inventory is being reduced, not only by sales, but also by properties being leased. It doesn't matter by which method, but just the result.

Important fact: The average sale price for January 2009 took a dramatic turn downward primarily due to the fact that almost 53% of the sales properties subject to lender approval (i.e. lender-owned properties, HUD homes and lender short sales, where seller owes the lender more than what property is selling for). The number of properties subject to lender approval in January 2008 was 40% and in January 2007 it was 29%.

While properties are still selling every day, we're still stressing to sellers to only put your property on the market if you have to sell. There's still too much inventory to compete with and it's all about supply and demand.

Are You On TWITTER?

I want to invite you to follow me on a free service called TWITTER.

Here's a short, 2-minute video about it:

http://www.youtube.com/watch?v=ddO9idmax0o

Once you watch the video, you can sign up on Twitter and follow me at: http://www.twitter.com/danweis

Help Your Kids & Grandkids Invest In Their Future!

Now is a great time for all parents and grandparents who want to help give their children and grandchildren a real financial head start in life.

Buying a home isn't on the minds of many 20-somethings, but is an excellent opportunity to buy real estate low as a long-term investment. Right now we're seeing an over-supply of homes (many lender-owned, vacant foreclosures as well as short-sale properties) while interest rates are near historic lows and housing prices are very favorable. The affordability of existing homes is at its highest level in many years.

During my past 24 years in the real estate business, the majority of the home buyers I speak with are concerned where they can come up with a downpayment for their mortgage. In the buyer's mind, this is without a doubt their biggest road block. This minor obstacle is easily solved with some creative thinking and a little assistance from mom & dad, grandma and grandpa and even a brother or sister.

As recently as 6 months ago, there were many 100% financing mortgage programs available, but they have all but dried up except for VA loans and USDA loans for qualifying rural properties.

The most popular home loan today for first time buyers is an FHA insured home loan, because FHA only requires a 3.5% down payment. The best part is that the entire down payment can be a gift from an immediate family member. This allows the parents to assist their children to buy their first home much earlier in life and essentially skip the need for them to waste their money on a rental. This can result in huge financial savings for their children and it allows them to build equity much faster than they could otherwise.

A few factors to consider about the current housing market:

• Interest rates are near 40 year lows
• Fixed interest rate home mortgages are readily available
• Mortgages with fixed rates help protect against future inflation
• Home values have fallen which makes it an ideal time to purchase.
• Home ownership often creates stability, security and it can become an investment like savings account.
• When you combine today's lower home prices with the low fixed rate mortgages in decades, it's clear that it is the right time to buy a home.
  

If you'd like to get more information on how you can help your child invest in their future, just pick up the phone and call me at (513) 615-1890 and tell me you read my blog and want to help a family member.

Hire Contractors Carefully!

Getting your home ready for sale for the spring market or just want to quit procrastinating on some home repairs?

Today's buyers want homes in great condition, so before you put your home on the market, fix anything that is showing wear and tear. If you're not an expert handyman, this may mean hiring a contractor.

The National Association of the Remodeling Industry (NARI) says that one of the most important steps in hiring a qualified contractor is checking references. NARI suggests you ask references the following questions:

• Were you able to easily communicate with the contractor?
• Were you pleased with the quality of the contractor's work?
• Did the contractor show up for and begin work on time?
• Was the job completed on schedule?
• Did the contractor fulfill all of the terms of your agreement?
• Would you use this contractor again with hesitation?

These questions will give you insight into whether or not you have the right contractor for the job.

I have been recommending a contractor, concierge-type network that has professionals who can cover just about anything.

I am offering to provide you with a free membership to this service network. When a need arises, you just call or email the network and they will put you in contact with an approved contractor, who will provide you with a bid for your job. You can even get multiple bids, if needed. If you're interested, just email me at dan@danweis.com or call me at 513-615-1890.

Cool Video For Kids & Grown-Ups Alike!

I just watched this great inspirational video called "The Race".

It's a story of a boy and a race, the temptation to quit -- and the inspiration to keep going. It brought tears to my eyes watching this short video. It brings back many childhood memories of how badly I always want to win any race I am in. The thought of not letting my parents or those who love me down -- just kept me going. Those same thoughts are still with me today as a grown man.

To think about it, life is just like a race. Sometimes we would fall down, and it’s okay, the most important thing is do we get up and finish our race or do we just stop our race there? This is certainly one of life’s greatest lesson.

Click here to watch this short 5 minute video: The Race.

I hope you will enjoy the video as much as I did. Let me know and feel free to share your thoughts.