Category Archives: Central Ohio

Obama’s 2013 Budget has bad news for homeowners

Obama has just released his 2013 Budget and it appears to be meeting with the same disdain as last year’s which even the Democrats didn’t approve. This year’s version is expected to meet the same fate because of the increased taxes, increased deficit spending and reduced military presence.

National Association of RealtorsEven so, the National Association of Realtors® has issued their position on the parts of the budget that will impact housing. Imagine losing the mortgage interest deduction (MID) that you currently receive on Schedule A, if you itemize your deductions.

“As the leading advocate for housing and homeownership, NAR is strongly opposed to elements of President Obama’s budget proposal that would limit itemized deductions, including the mortgage interest deduction, for thousands of families.

“NAR firmly believes that the mortgage interest deduction is vital to the stability of the American housing market and economy. We urge the president and Congress to do no harm.

“While progress has been made in bringing stability to the housing market, the recovery has been slow. The nation’s homeowners already pay 80 to 90 percent of U.S. federal income taxes. Raising taxes on them, now or in the future, could critically erode home values at all price levels. This would destroy middle-class wealth accumulation and trillions of dollars in home values nationwide.

Already Obama has tried implementing several mortgage programs that make great sound bytes for the media and re-election speeches, but offer little help for most homeowners or home prices. What the housing market really needs is a business-friendly environment that reduces the mass of regulations and taxes that prevent small and large businesses from investing in jobs. Until the millions of unemployed or underemployed people have decent paying jobs, the housing market can’t recover and people can’t keep their homes rather than losing them to foreclosure. 

Read NAR full article

Homes For Sale in Olentangy SD

It’s time to start searching for a home if you want to move by the end of the school year. I work mostly in the Olentangy school district area, and there are many homes available for buyers to choose. The following chart shows the number of homes for sale as of this afternoon. It changes all the time but this gives you a glimpse into the variety you’ll have to view. There are also many new home builders that will be more than willing to build your home from scratch. Some are starting to offer special deals, since the economy has impacted their business moreso than the resale market.

Zip # For Sale Sq Ft Avg $
43015 72 3590 $530,599
43065 154 3818 $505,680
43082 30 3394 $415,546
43021 49 3137 $359,076
43035 119 2728 $296,505

If you’re into luxury homes, there are 13 homes priced over $1 million with an average sq ft of 7883. All are located west of Rt 23 with most being in the various subdivisions along the Olentangy River between Powell Rd up to the junction with Rt 23 (south of Delaware).

If you’re ready to start looking, give me a call and we’ll go shopping. Remember, interest rates are rock bottom!

Dog Parents … Avoid Treats Made in China

Yesterday at the grocery, I “almost” bought a package of chicken jerky strips for The Murph. Then I happened to notice that they were Made in China, so I put them back on the shelf. The treats I reluctantly bought were “Distributed by Kroger“. Now I know from my former Marketing career, that manufacturers are permitted to use this ‘distributed’ type of label if the product or components were made in several countries and sometimes packaged in the USA. So there is a possibility that the treats I purchased could in reality use ingredients made in China.

Today on Twitter, this China alert was noted by a local news station. It linked to a Cleveland article about a chicken jerky product that has caused some kidney problems in dogs. Click here to read the complete article.

I also wish we could buy pet toys that were made in USA. I worry that the current toys available – which are all made in China – could also contain harmful ingredients. Maybe I should buy a couple of socks and make my own toys but I likely will have trouble finding Made in USA socks!

Ohio economy on its way back!

This afternoon the Ohio Governor, John Kasich, gave his State of the State speech. I made a point to watch it since Ohio, like many states, is trying to work its way out of hard times. Although the speech was one hour – twenty minutes long, the time went by quickly as he is a dynamic, energetic speaker – that doesn’t use a teleprompter or prepared speech.

Under our previous Governor, we had lost 400,000 jobs and had an $8 million deficit. In year one, our budget is now balanced – no small task. Plus, Gov Kasich has worked very hard to retain businesses or lure new businesses to help grow jobs.

Our unemployment rate is now down to 8.1%. As Gov Kasich noted in his speech, Ohio is #1 in the Midwest for job creation and #9 in the Nation. Before he took office, Ohio was #48 in the Nation.

It was recently announced that Honda (a big employer here) will be making their snazzy new Accura sports car here. Plus, Jeep will be expanding their operations in Toledo. In his speech, Kasich mentioned many other successes as well. It’s all very exciting and should help homeowners, home buyers, and the job market for 2012.

Watch a video of Kasich’s speech

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The Winter That Wasn’t?

Can you believe the “winter” we’re having this year? Last year it got cold the first part of December and didn’t let up until April. We really haven’t had a true winter this year. That’s OK with me.

This afternoon – Feb 2 – I actually saw a landscape crew working. That’s a help for them since those companies haven’t been able to make any money by plowing snow this year. There are other companies, like the ski slopes, that are probably hurting due to the lack of snow and warmer temps that prevent even making snow.

Buckeye Chuck – the Ohio groundhog version to Puxatawny Phil – didn’t see his shadow today so according to the tale, that’s supposed to mean an early spring for Ohio.

Last summer when I had to have a new AC unit installed, I also had them do a new, more efficient furnace. While the heat coming from the registers is much warmer, I don’t really know how much I’m saving due to its efficiency. So far, I’ve spent $90 less for the three months but that could just be due to the warmer temps.

I just hope our lack of winter so far doesn’t mean that winter will arrive in March, as it sometimes does.

Fantasy Inside the Beltway vs American Reality

It’s likely the Federal Government will increase its debt to over $16 trillion very soon. Probably like most Americans, I can’t fathom what a “trillion” equates to. Heck, I can barely imagine what it would be like to win the lottery and have a million dollars to spend. I think it would be fun, though.

I received an email this week that is probably making the rounds. Maybe you’ve seen it, maybe you haven’t. It helps put the Government spending at a level that we “little folks” can understand.

Here are the numbers in government speak:

  • U.S. Tax Revenue: $2,170,000,000,000
  • Fed Budget: $3,820,000,000,000
  • New Debt: $1,650,000,000,000
  • National Debt: $14,271,000,000,000 (will soon go to $16 trillion)
  • Recent Budget Cuts: $38,500,000,000

Here’s what WE understand:

  • Annual family income : $21,700
  • Money the family spent: $38,200
  • New Debt on the Credit Card: $16,500
  • Outstanding balance on the credit card: $142,710 (will soon go to over $160,000)
  • Total Budget Cuts: $385

Now, what family is going to sit around their kitchen table and casually increase their credit card debt by another $18,000 as the politicians are doing?