Thinking of buying a home, now may be the time. At Wednesday's meeting the Federal Reserve kept its lending interest rate at 5.25% which means interest rates on mortgages are virtually unchanged. If your a buyer the inventory of existing homes is up which means you will have plenty to choose from. According to the National Association of Realtors housing starts are down 18% from last year, new home sales are down 17%, existing home sales are down 14% and inventory of existing homes for sale is up 35%. Mortgage rates as of 10-27-2006 source Bloomberg: 15 yr current- 5.61, last month 5.47, 30yr current- 5.89, last month 5.75 and 1yr ARM current- 5.36, last month 5.26.
Other economic news
For the third quarter 2006 oil companies once again posted record profits.
Exxon Mobil $10.5 billion up 5.7% from last year
Shell $5.94 billion down 34% from last year
Questions or comments: write or email eugene.dougherty@realliving.com
Friday, October 27, 2006
Sunday, October 22, 2006
Ohio's Governors Race
The election is November 7, 2006. Here is where the candidates stand on the issues.
Ted Strickland: Democrat, Assistant Minister Trinity United Methodist Church Portsmouth, Ohio 1997- present. His running mate is Lee Fisher, former Ohio Attorney General.
Ken Blackwell: Republican, Ohio secretary of state 1999- present. His running mate is State Rep. Tom Raga.
TAXES:
Strickland
Believes Ohio should take time to realize the effects of the tax reform which was recently passed. He says he won't cut taxes and also says he will not raise taxes.
Blackwell
Is in favor of cutting the states income tax to a flat 3.25%. He wants to do away with the stand alone estate tax and would roll back the state sales tax to 5%.
HEALTH CARE :
Strickland
Is in favor of creating an Ohio healthcare exchange where by small businesses and private insurers would come together to create low cost health care packages and make them available to uninsured Ohioans. Participation would be voluntary. Low income families would get help to pay for premiums.
Blackwell
Is in favor of creating the Buckeye Health Plan to cover uninsured Ohioans. The plan would match Ohioans with existing health care programs which would include the transfer of all Ohio's Medicaid programs to private insurance companies.
EDUCATION:
Strickland
Would spend $50 million per year on early childhood education and would establish a state department which would establish programs for children from prenatal to age 6. Also, college savings accounts which the state would contribute a total of $4,000 annually
over 18 years.
Blackwell
Is in favor of the 65 cent solution which requires 65 cents of every education dollar be spent in the classroom on books, teachers and supplies.
JOBS:
Strickland
Wants to expand state assistance to help save and grow business in Ohio. Also wants to invest in alternative fuels and clean energy technology which he believes would create 22,000 jobs. The plan includes ethanol production and clean coal technologies. He would also invest in the states broadband infrastructure.
Blackwell
Wants to lease the Ohio Turnpike for $4- $6 billion and use the money to start Jobs for Ohio Businesses Fund (JOB). The money would be spent on alternative energy development and clean coal, a revolving loan fund, improving turnpike corridor development and creating universal broadband access.
Questions or comments: write or email eugene.dougherty@realliving.com
Ted Strickland: Democrat, Assistant Minister Trinity United Methodist Church Portsmouth, Ohio 1997- present. His running mate is Lee Fisher, former Ohio Attorney General.
Ken Blackwell: Republican, Ohio secretary of state 1999- present. His running mate is State Rep. Tom Raga.
TAXES:
Strickland
Believes Ohio should take time to realize the effects of the tax reform which was recently passed. He says he won't cut taxes and also says he will not raise taxes.
Blackwell
Is in favor of cutting the states income tax to a flat 3.25%. He wants to do away with the stand alone estate tax and would roll back the state sales tax to 5%.
HEALTH CARE :
Strickland
Is in favor of creating an Ohio healthcare exchange where by small businesses and private insurers would come together to create low cost health care packages and make them available to uninsured Ohioans. Participation would be voluntary. Low income families would get help to pay for premiums.
Blackwell
Is in favor of creating the Buckeye Health Plan to cover uninsured Ohioans. The plan would match Ohioans with existing health care programs which would include the transfer of all Ohio's Medicaid programs to private insurance companies.
EDUCATION:
Strickland
Would spend $50 million per year on early childhood education and would establish a state department which would establish programs for children from prenatal to age 6. Also, college savings accounts which the state would contribute a total of $4,000 annually
over 18 years.
Blackwell
Is in favor of the 65 cent solution which requires 65 cents of every education dollar be spent in the classroom on books, teachers and supplies.
JOBS:
Strickland
Wants to expand state assistance to help save and grow business in Ohio. Also wants to invest in alternative fuels and clean energy technology which he believes would create 22,000 jobs. The plan includes ethanol production and clean coal technologies. He would also invest in the states broadband infrastructure.
Blackwell
Wants to lease the Ohio Turnpike for $4- $6 billion and use the money to start Jobs for Ohio Businesses Fund (JOB). The money would be spent on alternative energy development and clean coal, a revolving loan fund, improving turnpike corridor development and creating universal broadband access.
Questions or comments: write or email eugene.dougherty@realliving.com
Summit and Portage County, Ohio Trick or Treat
Summit County, Ohio
Akron 5- 7 pm Oct 28
Barberton 5- 7 pm Oct 28
Bath Township 5- 7 pm Oct 29
Boston Heights 6- 8 pm Oct 31
Clinton 2- 4 pm Oct 29
Copley Township 5- 7 pm Oct 29
Coventry Township Each neighborhood sets times
Cuyahoga Falls 6- 8 pm Oct 28
Fairlawn 5- 7 pm Oct 29
Green 6- 8 pm Oct 29
Hudson Each neighborhood sets times
Macedonia 6- 8 pm Oct 31
Mogadore 2- 4 pm Oct 29
Munroe Falls 6- 8 pm Oct 28
New Franklin 6- 8 pm Oct 28
Norton 5- 7 pm Oct 29
Northfield 6- 8 pm Oct 31
Northfield Center Township 6- 8 pm Oct 31
Peninsula 6- 7 pm Oct 31
Reminderville 6- 8 pm Oct 31
Richfield 6- 8 pm Oct 31
Richfield Township 6- 8 pm Oct 31
Sagamore Hills Township 6- 8 pm Oct 31
Silver Lake 6- 8 pm Oct 28
Springfield Township 5- 7 pm Oct 28
Stow 6- 8 pm Oct 28
Tallmadge 5:30- 7 pm Oct 26
Twinsburg 6- 8 pm Oct 31
Portage County
Atwater Township 2- 4 pm Oct 29
Aurora 6- 8 pm Oct 31
Brimfield Township 2- 4 pm Oct 29
Franklin Township 3- 5 pm Oct 29
Garrettsville 5:30- 7 pm Oct 31
Hiram 5- 7 pm Oct 31
Kent 3- 5 pm Oct 29
Mantua 6- 8 pm Oct 31
Mantua Township 5- 7 pm Oct 31
Ravenna 3- 5 pm Oct 29
Ravenna Township 3- 5 pm Oct 29
Rootstown Township 1- 3 pm Oct 29
Shalersville Township 2- 5 pm Oct 29
Streetsboro 2- 4 pm Oct 29
Suffield Township 2- 4 pm Oct 29
Questions or comments: write or email eugene.dougherty@realliving.com
Akron 5- 7 pm Oct 28
Barberton 5- 7 pm Oct 28
Bath Township 5- 7 pm Oct 29
Boston Heights 6- 8 pm Oct 31
Clinton 2- 4 pm Oct 29
Copley Township 5- 7 pm Oct 29
Coventry Township Each neighborhood sets times
Cuyahoga Falls 6- 8 pm Oct 28
Fairlawn 5- 7 pm Oct 29
Green 6- 8 pm Oct 29
Hudson Each neighborhood sets times
Macedonia 6- 8 pm Oct 31
Mogadore 2- 4 pm Oct 29
Munroe Falls 6- 8 pm Oct 28
New Franklin 6- 8 pm Oct 28
Norton 5- 7 pm Oct 29
Northfield 6- 8 pm Oct 31
Northfield Center Township 6- 8 pm Oct 31
Peninsula 6- 7 pm Oct 31
Reminderville 6- 8 pm Oct 31
Richfield 6- 8 pm Oct 31
Richfield Township 6- 8 pm Oct 31
Sagamore Hills Township 6- 8 pm Oct 31
Silver Lake 6- 8 pm Oct 28
Springfield Township 5- 7 pm Oct 28
Stow 6- 8 pm Oct 28
Tallmadge 5:30- 7 pm Oct 26
Twinsburg 6- 8 pm Oct 31
Portage County
Atwater Township 2- 4 pm Oct 29
Aurora 6- 8 pm Oct 31
Brimfield Township 2- 4 pm Oct 29
Franklin Township 3- 5 pm Oct 29
Garrettsville 5:30- 7 pm Oct 31
Hiram 5- 7 pm Oct 31
Kent 3- 5 pm Oct 29
Mantua 6- 8 pm Oct 31
Mantua Township 5- 7 pm Oct 31
Ravenna 3- 5 pm Oct 29
Ravenna Township 3- 5 pm Oct 29
Rootstown Township 1- 3 pm Oct 29
Shalersville Township 2- 5 pm Oct 29
Streetsboro 2- 4 pm Oct 29
Suffield Township 2- 4 pm Oct 29
Questions or comments: write or email eugene.dougherty@realliving.com
Saturday, October 21, 2006
Cuyahoga Falls, Ohio Schools
Cuyahoga Falls Board of Education is located at the Harold Wilson Administrative Center 431 Stow Avenue Cuyahoga Falls, Ohio www.cfalls.cummit.k12.oh.us
Superintendent: Dr. Edwin Holland
Assistant Superintendent: Walter Davis
Treasurer: Kathryn Sines
The Board of Education meets the first and third Wednesdays of each month at 7pm. Meetings are held in the board room at the Harold Wilson Administrative Center, 431 Stow Avenue.
Cuyahoga Falls Schools:
Dewitt Elementary School, Grades K-5 425 Falls Avenue, Cuyahoga Falls
Principal Curt Kennedy
Price Elementary School, Grades K-5 2610 Delmore Street, Cuyahoga Falls
Principal Dyanne Schoterman
Lincoln Elementary School, Grades K-5 3131 Bailey Road, Cuyahoga Falls
Principal Rose Heintz
Richardson Elementary School, Grades K-5 2226 23rd Street, Cuyahoga Falls
Principal Frank Margida
Preston Elementary School, Grades K-5 800 Tallmadge Road, Cuyahoga Falls
Principal Kirk Bennett
Silver Lake Elementary School, Grades K-5 2970 Overlook Road, Silver Lake
Principal Ellen McClure
Bolich Middle School, Grades 6-8 2630 13th Street, Cuyahoga Falls
Principal Chris McBurney
Roberts Middle School, Grades 6-8 3333 Charles Street, Cuyahoga Falls
Principal Tom Ratcliff
Cuyahoga Falls High School, 2300 4th Street, Cuyahoga Falls
Principal Nick Valentine
Schnee Learning Center, 2222 Issaquah Street, Cuyahoga Falls
Principal Mrs. Cardone
Superintendent: Dr. Edwin Holland
Assistant Superintendent: Walter Davis
Treasurer: Kathryn Sines
The Board of Education meets the first and third Wednesdays of each month at 7pm. Meetings are held in the board room at the Harold Wilson Administrative Center, 431 Stow Avenue.
Cuyahoga Falls Schools:
Dewitt Elementary School, Grades K-5 425 Falls Avenue, Cuyahoga Falls
Principal Curt Kennedy
Price Elementary School, Grades K-5 2610 Delmore Street, Cuyahoga Falls
Principal Dyanne Schoterman
Lincoln Elementary School, Grades K-5 3131 Bailey Road, Cuyahoga Falls
Principal Rose Heintz
Richardson Elementary School, Grades K-5 2226 23rd Street, Cuyahoga Falls
Principal Frank Margida
Preston Elementary School, Grades K-5 800 Tallmadge Road, Cuyahoga Falls
Principal Kirk Bennett
Silver Lake Elementary School, Grades K-5 2970 Overlook Road, Silver Lake
Principal Ellen McClure
Bolich Middle School, Grades 6-8 2630 13th Street, Cuyahoga Falls
Principal Chris McBurney
Roberts Middle School, Grades 6-8 3333 Charles Street, Cuyahoga Falls
Principal Tom Ratcliff
Cuyahoga Falls High School, 2300 4th Street, Cuyahoga Falls
Principal Nick Valentine
Schnee Learning Center, 2222 Issaquah Street, Cuyahoga Falls
Principal Mrs. Cardone
Sunday, October 15, 2006
Stow, Ohio Leaf Pickup
District 1: Areas north of Graham Road and east of Route 91, October 23- 28, November 13- 18
District 2: Areas north of Graham Road and west of Route 91, October 30- November 4, November 20-25
District 3: Areas south of Graham Road, November 6-11, November 27- December 1
* Leaves should be raked out to the edge of the street, not into the street.
* Leaves must be on the curb by 7am on the Monday of your scheduled week
* Leaves containing branches, brush, grass clippings or debris will not be picked up.
* Leaves that are bagged will not be picked up.
Source: Stow Sentry October 15, 2006
Questions or comments: write or email eugene.dougherty@realliving.com
District 2: Areas north of Graham Road and west of Route 91, October 30- November 4, November 20-25
District 3: Areas south of Graham Road, November 6-11, November 27- December 1
* Leaves should be raked out to the edge of the street, not into the street.
* Leaves must be on the curb by 7am on the Monday of your scheduled week
* Leaves containing branches, brush, grass clippings or debris will not be picked up.
* Leaves that are bagged will not be picked up.
Source: Stow Sentry October 15, 2006
Questions or comments: write or email eugene.dougherty@realliving.com
Stow, Ohio's School Tax
Issue 10 will be on the ballot Nov 07, 2006. If voted in, Stow and Munroe Falls residents could see the tax rate on their earned incomes increase 1/2%. The income tax rates of Stow and Munroe Falls would remain at 2%, but the earned incomes of residents would be taxed an additional 1/2%. For every $10,000 annual salary residents would pay an additional $50. Issue 10 will generate approximately $4.1 million annually for five years beginning in 2007. If passed the increase would take effect January 01, 2007.
School taxes already in place.
* In 2005 residents passed a 5.13 mill renewal levy which will generate approximately $4.6 million per year for five years.
* In 2003 a 7.7 mill renewal levy passed which will generate approximately $7.4 million per year until 2007.
* There is also a 5.4 mill permanent levy which collects $5.21 million per year and does not expire.
* In 1976 residents passed a continuing 11.41 mill levy that will generate approximately $11.54 annually and does not expire.
* In 1977 a continuing 3.18 mill levy was passed which will generate approximately $3.21 million annually.
* In 1983 residents passed a .87 mill bond which is slated to expire at years end, but the district changed the levy into a permanent improvement fund earlier this year so the bond will continue to generate money indefinitely.
* In 1995 residents passed a .53 bond for the Stow-Munroe Falls Library. This levy will generate $453,842 this year and is slated to expire in 2007.
If property values fluctuate these rates could change next year.
Questions or comments: write or email eugene.dougherty@realliving.com
School taxes already in place.
* In 2005 residents passed a 5.13 mill renewal levy which will generate approximately $4.6 million per year for five years.
* In 2003 a 7.7 mill renewal levy passed which will generate approximately $7.4 million per year until 2007.
* There is also a 5.4 mill permanent levy which collects $5.21 million per year and does not expire.
* In 1976 residents passed a continuing 11.41 mill levy that will generate approximately $11.54 annually and does not expire.
* In 1977 a continuing 3.18 mill levy was passed which will generate approximately $3.21 million annually.
* In 1983 residents passed a .87 mill bond which is slated to expire at years end, but the district changed the levy into a permanent improvement fund earlier this year so the bond will continue to generate money indefinitely.
* In 1995 residents passed a .53 bond for the Stow-Munroe Falls Library. This levy will generate $453,842 this year and is slated to expire in 2007.
If property values fluctuate these rates could change next year.
Questions or comments: write or email eugene.dougherty@realliving.com
Saturday, October 07, 2006
Buying a Home, Know Your Mortgages
Buying a home, here are some mortgages the average home buyer should be aware of and avoid.
*Multiple Choice Mortgage- the pay-option adjustable rate mortgage (ARM)
This mortgage offers a low initial interest rate with the choice of four monthly payment options. Borrowers can make a payment on the interest and the principal on a fully amortized loan, or make a payment that doesn't cover all of the interest due on the mortgage. Many average home buyers are attracted to these mortgages because of the lower payment option, but could soon find they owe more than they originally borrowed. This mortgage should be avoided because the home buyer could end up owing more than they borrowed.
*Cash-Out Financing- 103's, 107's and 125's
With this mortgage homeowners take a mortgage for more money than their home is worth. There is also an option of borrowing an extra 3%, 7% or 25% of the properties value which could be used for closing costs, renovations or to payoff credit card debt. The home must appreciate enough to cover the amount of the loan, if not the homeowner will have to come up with extra cash to pay off the mortgage. The interest rate on this mortgage is generally 50% more than normal. This mortgage should be avoided because a home must appreciate in order to build equity.
*Adjustable-Rate Mortgages- 1yr and 3yr fixed rate ARM'S
The borrower locks into a lower than average interest rate for the first 1-3 years. This mortgage readjusts every year in tandem with short-term interest rates which are highly volatile. Since 2004 the 1yr ARM has increased two percentage points from 4% to 6%. The home buyer would be better off to lock into an interest rate on a 30yr fixed-rate mortgage so they won't have to worry about fluctuations in the short term interest rates. This mortgage should be avoided since the monthly payments are variable in just 1 to 3 years.
*Interest Only Payments- 3yr, 5yr, 7yr and 10yr interest only option on an ARM, aka interest only mortgages.
Borrowers only pay the interest on the loan for the first 3, 5, 7 or 10yrs of the loan with no money being applied to the principal. When the interest only period expires, the monthly payments balloon to cover the remaining interest and all of the principal payments on the mortgage. The borrower could then be forced into spending more money to refinance or end up having to sell their house. This mortgage should be avoided because monthly payments could quickly balloon.
*Fixed Rate Loans- 40yr and 50yr fixed-rate mortgages.
This mortgage amortizes over 40 or 50 years. This mortgage entices borrowers because the monthly payment is lowered, which is true. However, the savings are not that significant. An individual with a $300,000 mortgage would reduce the monthly payment approximately $80 with a 40yr mortgage vs a 30yr one. The borrower will end up paying more interest on the loan, the interest rate is generally 1/4 % more than a 30yr mortgage. This mortgage should be avoided because it builds equity slowly.
Questions or comments: write or email eugene.dougherty@realliving.com
*Multiple Choice Mortgage- the pay-option adjustable rate mortgage (ARM)
This mortgage offers a low initial interest rate with the choice of four monthly payment options. Borrowers can make a payment on the interest and the principal on a fully amortized loan, or make a payment that doesn't cover all of the interest due on the mortgage. Many average home buyers are attracted to these mortgages because of the lower payment option, but could soon find they owe more than they originally borrowed. This mortgage should be avoided because the home buyer could end up owing more than they borrowed.
*Cash-Out Financing- 103's, 107's and 125's
With this mortgage homeowners take a mortgage for more money than their home is worth. There is also an option of borrowing an extra 3%, 7% or 25% of the properties value which could be used for closing costs, renovations or to payoff credit card debt. The home must appreciate enough to cover the amount of the loan, if not the homeowner will have to come up with extra cash to pay off the mortgage. The interest rate on this mortgage is generally 50% more than normal. This mortgage should be avoided because a home must appreciate in order to build equity.
*Adjustable-Rate Mortgages- 1yr and 3yr fixed rate ARM'S
The borrower locks into a lower than average interest rate for the first 1-3 years. This mortgage readjusts every year in tandem with short-term interest rates which are highly volatile. Since 2004 the 1yr ARM has increased two percentage points from 4% to 6%. The home buyer would be better off to lock into an interest rate on a 30yr fixed-rate mortgage so they won't have to worry about fluctuations in the short term interest rates. This mortgage should be avoided since the monthly payments are variable in just 1 to 3 years.
*Interest Only Payments- 3yr, 5yr, 7yr and 10yr interest only option on an ARM, aka interest only mortgages.
Borrowers only pay the interest on the loan for the first 3, 5, 7 or 10yrs of the loan with no money being applied to the principal. When the interest only period expires, the monthly payments balloon to cover the remaining interest and all of the principal payments on the mortgage. The borrower could then be forced into spending more money to refinance or end up having to sell their house. This mortgage should be avoided because monthly payments could quickly balloon.
*Fixed Rate Loans- 40yr and 50yr fixed-rate mortgages.
This mortgage amortizes over 40 or 50 years. This mortgage entices borrowers because the monthly payment is lowered, which is true. However, the savings are not that significant. An individual with a $300,000 mortgage would reduce the monthly payment approximately $80 with a 40yr mortgage vs a 30yr one. The borrower will end up paying more interest on the loan, the interest rate is generally 1/4 % more than a 30yr mortgage. This mortgage should be avoided because it builds equity slowly.
Questions or comments: write or email eugene.dougherty@realliving.com
Thursday, October 05, 2006
Ohio Senate Races
Its election time, here are the top Ohio Senate races to watch.
13th Senate District which is Lorain, Huron and a portion of Seneca County. The candidates are Susan Morano (D) from Lorain and Martha Wise (R) from Avon.
27th Senate District which is portions of Summit county, parts of suburban and the city of Akron. The candidates are State Senator Kevin Coughlin (R) from Cuyahoga Falls and Judy Hanna (D) from Akron.
3rd Senate District which is portions of Franklin county and portions of suburban and portions of Columbus. The candidates are State Senator David Goodman (R) from Columbus and Emily Kreider (D) from Columbus.
5th Senate District which includes Miami and portions of Darke and Montgomery counties. The candidates are State Senator Tom Roberts (D) from Dayton and Donald K. McClaurin (R) also from Dayton.
29th Senate District which includes portions of Stark county. The candidates are State Senator
J. Kirk Schuring (R) from Canton and Thomas E. West (D) also from Canton.
Approximately half of the 33 districts of the Ohio senate are up for election.
Source: Stow Sentry, 10-04-2006
Questions or comments: write or email eugene.dougherty@realliving.com
13th Senate District which is Lorain, Huron and a portion of Seneca County. The candidates are Susan Morano (D) from Lorain and Martha Wise (R) from Avon.
27th Senate District which is portions of Summit county, parts of suburban and the city of Akron. The candidates are State Senator Kevin Coughlin (R) from Cuyahoga Falls and Judy Hanna (D) from Akron.
3rd Senate District which is portions of Franklin county and portions of suburban and portions of Columbus. The candidates are State Senator David Goodman (R) from Columbus and Emily Kreider (D) from Columbus.
5th Senate District which includes Miami and portions of Darke and Montgomery counties. The candidates are State Senator Tom Roberts (D) from Dayton and Donald K. McClaurin (R) also from Dayton.
29th Senate District which includes portions of Stark county. The candidates are State Senator
J. Kirk Schuring (R) from Canton and Thomas E. West (D) also from Canton.
Approximately half of the 33 districts of the Ohio senate are up for election.
Source: Stow Sentry, 10-04-2006
Questions or comments: write or email eugene.dougherty@realliving.com
Selling a home in Stow or Cuyahoga Falls, Ohio
Selling your home in Stow or Cuyahoga Falls, here are some statistics you should be aware of.
In Cuyahoga Falls for the month of July, 2006, there were 273 homes for sale, 50 sold and they were on the market for 67 days.
In Stow for the month of July, 2006, there were 153 homes for sale, 39 sold and they were on the market for 66 days. Is your realtor giving you the market facts? New market statistics coming soon.
Questions or comments: write or email eugene.dougherty@realliving.com
In Cuyahoga Falls for the month of July, 2006, there were 273 homes for sale, 50 sold and they were on the market for 67 days.
In Stow for the month of July, 2006, there were 153 homes for sale, 39 sold and they were on the market for 66 days. Is your realtor giving you the market facts? New market statistics coming soon.
Questions or comments: write or email eugene.dougherty@realliving.com
Wednesday, October 04, 2006
Eminent Domain
Cuyahoga Falls mayor, Don Robart is preparing to begin eminent domain proceedings on the State Road Shopping center. Robart said the current condition of the shopping plaza is non productive for the area. The mayor would like to see the plaza torn down and rebuilt. The eminent domain proceedings are mean't to force GMS Management, the owners of the plaza, to consider selling the plaza. Eminent domain proceedings would allow a third party to establish a market price for the property. Robart would like to see a combination retail and residential apartments for the plaza. The remaining tenants in the plaza agree a change is needed. The mayor has a meeting scheduled with the leasing agent of the property next week which he views as a positive indication that a resolution could be reached in lieu of eminent domain proceedings.
Source: Akron Beacon Journal 09-26-06
Questions or Comments: write or email eugene.dougherty@realliving.com
Source: Akron Beacon Journal 09-26-06
Questions or Comments: write or email eugene.dougherty@realliving.com
Friday, September 29, 2006
Breast Cancer Walk
Come out and get some exercise and raise awareness for a great cause. Sunday, October 15, 2006 there will be a 3.1 mile walk for breast cancer. The walk will be at Akron Aeros Stadium 300 South Main Street Akron, Ohio 44308. If you are unable to attend the walk you may mail a contribution to American Cancer Society 525 North Broad Street Canfield, Ohio 44406 or make a donation online at www.cancer.org/stridesonline, their secure site. Funds raised are used for investment in breast cancer research, provide lifesaving screening tests and treatment, regardless of income, promote mammography for early detection of breast cancer and offer free programs for patients and families.
Wednesday, September 27, 2006
Marine Fundraiser
A fundraiser for Marine Cpl. Joe Tomci will be held Friday September 29, 2006 5- 10pm at Acker-Moore Memorial Post at 3733 Fishcreek Road Stow, Ohio 44224. Cpl. Tomci, a Stow resident was killed in August by a roadside bomb while serving in Iraq. The fundraiser is to raise money for military families in memory of Cpl. Tomci. The fund was established by Huntington National Bank to help families of military personnel. The fundraiser will include a meal of pasta, meatballs, sausage, salad, Italian bread and desert. The cost for adults is $8 and children $4.
Questions or comments: write or email eugene.dougherty@realliving.com
Questions or comments: write or email eugene.dougherty@realliving.com
Thursday, September 21, 2006
Home Heating
We are approaching that time of year when the cost of heating our homes will put a dent in our wallets. Residents in Stow who are members of the City's natural gas aggregation program, which is supplied by Vectren, can expect to pay a fixed rate of $11.70/Mcf for all gas consumed during the upcoming winter months starting with bills prepared after November 02, 2006. If you are a resident or business in the city of Stow currently in the aggregate program you need not take any action, you will automatically receive the fixed rate. If you are not enrolled in the aggregate program you can call Vectren Source at 1-866-200-5634 for information and a comparison to your current natural gas provider.
Source: Stow Sentry 09-21-2006
Questions or comments: write or email eugene.dougherty@realliving.com
Source: Stow Sentry 09-21-2006
Questions or comments: write or email eugene.dougherty@realliving.com
Housing Construction Falls to Three Year Low
According to the commerce department housing starts fell 6% last month to 1.655 million. The growth in new housing, which fueled the economy for half a decade is now declining. This raises concerns with leading economists that the slowdown will slow the rest of the economy. The Fed is expected to keep the interest rate at 5.25% when they meet on 09-20-2006 (the Fed did keep interest rates at 5.25% at their 09-20-2006 meeting).
New housing starts declined in all regions except for the northeast which was up 5.4%. There was a 12% decline in the midwest, 6.1% decline in the south and and 5.5% decline in the west. In the month of September building permits for new homes fell to 1.722 million from 1.763 million in the previous month. This trend is also causing inventories of unsold homes to rise.
Realtors forecast the median existing home prices will rise 2.8% this year to $225,900 after a rise in 2005 of 10.5%.
Source: Bloomberg 09-19-2006
Questions or comments: write or email eugene.dougherty@realliving.com
New housing starts declined in all regions except for the northeast which was up 5.4%. There was a 12% decline in the midwest, 6.1% decline in the south and and 5.5% decline in the west. In the month of September building permits for new homes fell to 1.722 million from 1.763 million in the previous month. This trend is also causing inventories of unsold homes to rise.
Realtors forecast the median existing home prices will rise 2.8% this year to $225,900 after a rise in 2005 of 10.5%.
Source: Bloomberg 09-19-2006
Questions or comments: write or email eugene.dougherty@realliving.com
Sunday, September 17, 2006
Selling a home in Stow or Cuyahoga Falls, Ohio
Selling a home in Stow or the Falls, here is some housing statistics.
Cuyahoga Falls, Ohio: In June 2006, there were 328 houses for sale, 68 sold and the homes were on the market for 61 days.
Stow,Ohio: In June 2006, there were 185 houses for sale, 29 sold and the homes were on the market for 77 days. New stats coming soon.
Questions or comments: write or email eugene.dougherty@realliving.com
Cuyahoga Falls, Ohio: In June 2006, there were 328 houses for sale, 68 sold and the homes were on the market for 61 days.
Stow,Ohio: In June 2006, there were 185 houses for sale, 29 sold and the homes were on the market for 77 days. New stats coming soon.
Questions or comments: write or email eugene.dougherty@realliving.com
Stows Law Rescinded
Residents living in Stow will no longer be billed for police department services as a result of being involved in a traffic infraction. On Thursday 09-14-06 City Council voted to rescind the program aka the cost recovery program. Individuals who were charged will have 60 days from the date the mayor signs legislation to apply for reimbursement. The exact day the mayor will sign the legislation is still unknown. To receive reimbursement citizens will have to send a written application to the mayors office and be prepared to provide proof they were billed and paid the fee, citizens can contact the mayors office for more information.
Source: Stow Sentry 09-17-2006
Questions or comments: write or email eugene.dougherty@realliving.com
Source: Stow Sentry 09-17-2006
Questions or comments: write or email eugene.dougherty@realliving.com
Tuesday, September 12, 2006
Homes for Sale
Economic growth is slowing and one of the reasons is a slowing housing market. This should allow the federal reserve to keep interest rates steady through the first half of 2007. Higher mortgage rates resulted in home sales being down which further resulted in less cash consumers had to spend over the five year housing boom. The housing slow down is also responsible for consumers having less cash from refinancing and home appreciation.
On 09-07-2006, The National Association of Realtors reduced their forecast for 2006 home sales and went on to say there are currently a record number of homes on the market.
On a somewhat positive note as of 09-12-2006 a barrel of crude oil: $63.76, the lowest since 03-22-2006 and as of 09-12-2006 mortgage rates: 15 year- 5.65%, 30 year- 5.94%, 1year ARM- 5.31%.
Source: Bloomberg News
Questions or comments write or email eugene.dougherty@realliving.com
On 09-07-2006, The National Association of Realtors reduced their forecast for 2006 home sales and went on to say there are currently a record number of homes on the market.
On a somewhat positive note as of 09-12-2006 a barrel of crude oil: $63.76, the lowest since 03-22-2006 and as of 09-12-2006 mortgage rates: 15 year- 5.65%, 30 year- 5.94%, 1year ARM- 5.31%.
Source: Bloomberg News
Questions or comments write or email eugene.dougherty@realliving.com
Monday, September 11, 2006
Your Real Estate Agent
Is your real estate agent representing your best interests? Under Ohio law real estate agents are allowed to practice three types of agency, sellers agency, buyers agency and dual agency. A sellers agent represents the seller and only the seller of a home, the sellers agent must follow the sellers lawful instructions, be loyal to the seller, promote the sellers best interest, disclose material facts to the seller, maintain confidential information, act with reasonable skill and care and account for any money they handle in the transaction.
A buyers agent represents the buyer and only the buyer of a home, the buyers agent must follow the buyers lawful instructions, be loyal to the buyer, promote the buyers best interests, disclose material facts to the buyer, maintain confidential information and account for any money they handle in the transaction.
In dual agency, a real estate agent represents the seller and the buyer. The dual agent must maintain a neutral position in the transaction. They may not advocate the position of one client over the best interests of the other client.
Questions or comments write or email eugene.dougherty@realliving.com
A buyers agent represents the buyer and only the buyer of a home, the buyers agent must follow the buyers lawful instructions, be loyal to the buyer, promote the buyers best interests, disclose material facts to the buyer, maintain confidential information and account for any money they handle in the transaction.
In dual agency, a real estate agent represents the seller and the buyer. The dual agent must maintain a neutral position in the transaction. They may not advocate the position of one client over the best interests of the other client.
Questions or comments write or email eugene.dougherty@realliving.com
Sunday, September 10, 2006
Stow's Law
Have a traffic infraction in Stow and expect to be billed for the services of the police department. Under the current system aka the cost-recovery program citizens of Stow are being billed for police department services. The mayor and city council members are meeting this week to discuss discontinuing the program. Billing is being handled by a company by the name of Cost Recovery Corp who was sending the bills to an individuals insurance company. A spokesman for Cost Recovery Corp said they were surprised to learn that the insurance companies were passing the bills along to the individual involved in the infraction. According to city council there are police departments in 13 other states that have the same program. All this poses a question that should be obvious. Isn't this what tax dollars are for?
Source: Stow Sentry Sunday 09-10-06
Questions or comments: write or email eugene.dougherty@realliving.com
Source: Stow Sentry Sunday 09-10-06
Questions or comments: write or email eugene.dougherty@realliving.com
Wednesday, September 06, 2006
Schools in Stow and Cuyahoga Falls
Stow, Ohio:
Buying a home in Stow, Ohio or Cuyahoga Falls, Ohio, or if you are a current resident here is some general school information.
Stow- Munroe Falls High School average class size in math, science and English is 25. 45% of students take the SAT scoring 546 in math and 548 in verbal. 58% of students take the ACT scoring 22.7. There are 390 seniors, 95% receive diplomas, 70% attend a four year college and 5% attend junior college.
District Information:
The school district spends $8,360 per student. There are 6,053 students with 252 teachers and staff. The student to teacher ratio is 24. Median years of teaching experience is 13. The lowest grade level is PK, highest is 12.
Cuyahoga Falls, Ohio:
Cuyahoga Falls High School average class size in math, science and English is 25. 25% of students take the SAT scoring 525 in math and 500 in verbal. 60% of students take the ACT scoring 22.6. There are 378 seniors, 95% receive diplomas, 50% attend four year colleges and 10% attend junior college.
District Information:
The school district spends $8,244 per student. There are 4,853 students with 202 teachers and staff. The student to teacher ratio is 24. Median years of teaching experience is 13. The lowest grade level is K, highest is 12.
Source of data eschoolsprofile.com 09-06
Questions or comments write or email eugene.dougherty@realliving.com
Buying a home in Stow, Ohio or Cuyahoga Falls, Ohio, or if you are a current resident here is some general school information.
Stow- Munroe Falls High School average class size in math, science and English is 25. 45% of students take the SAT scoring 546 in math and 548 in verbal. 58% of students take the ACT scoring 22.7. There are 390 seniors, 95% receive diplomas, 70% attend a four year college and 5% attend junior college.
District Information:
The school district spends $8,360 per student. There are 6,053 students with 252 teachers and staff. The student to teacher ratio is 24. Median years of teaching experience is 13. The lowest grade level is PK, highest is 12.
Cuyahoga Falls, Ohio:
Cuyahoga Falls High School average class size in math, science and English is 25. 25% of students take the SAT scoring 525 in math and 500 in verbal. 60% of students take the ACT scoring 22.6. There are 378 seniors, 95% receive diplomas, 50% attend four year colleges and 10% attend junior college.
District Information:
The school district spends $8,244 per student. There are 4,853 students with 202 teachers and staff. The student to teacher ratio is 24. Median years of teaching experience is 13. The lowest grade level is K, highest is 12.
Source of data eschoolsprofile.com 09-06
Questions or comments write or email eugene.dougherty@realliving.com
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