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Columbus & Central Ohio, United States
DeLena Ciamacco is a well-known, respected Top Producing Realtor in Central Ohio. Her myriad of accomplishments, recognition, and professional credentials as they relate to Real Estate, make her a perfect individual to provide insight to the masses on all aspects of Real Estate sales. Her creativity and honest approach to marketing Real Estate has enabled her to succeed in her career. DeLena’s philosophy is “An educated and well prepared Buyer or Seller is a smart Buyer or Seller”. Her desire is to inform the public, by pulling from her 20+ years of Real Estate sales & Marketing, what is necessary to get to a successful closing in these challenging times.

Monday, September 17, 2012

NEW LISTING in WESTERVILLE!

JUST LISTED!
~3942 Chickadee Ct~

MUCH LOVED BI-LEVEL HOME…Nestled onto a mature treed, cul-de-sac lot & backing to green space! New carpet & exterior painted 2012! Vaulted Great Room walks out to a multi-level Deck. Vaulted & fully applianced Kitchen/Dinette. Lower Level Family Room has fireplace with slate base. Updated roof, white 6 panel doors & more. 2 car Garage. Ready to move right into! 3 BR’s & 1.5 Baths. Over 1,300 SF! Westerville City Schools. Only $122,900! Call DeLena Today!


Sunday, September 16, 2012

Buying A Home Is 45% Cheaper than Renting



You can save hundreds of dollars a month by buying a home instead of renting – especially if you can get today’s low mortgage rates, itemize your tax deductions and plan to live there for 7 years.
The most important housing decision that most consumers face is whether to rent or to buy. So to help them with this decision, we took a look at the key market factors affecting the cost of homeownership.  First off, asking home prices have started to rebound and have risen by 2.3% year over year in August (3.8% excluding foreclosures); however, rents have risen more (4.7%). This means that prices are lower relative to rents than they were a year ago. But more importantly, mortgage rates have fallen: the best rates this summer have been around 3.5%, while last summer rates were closer to 4.5%. Based on asking prices and rents during the summer of 2012, buying is now 45% cheaper than renting in the 100 largest U.S. metros, on average – that’s a savings of $771 a month. If you plan to stay in a home for 7 years, which is the average time that Americans traditionally live in a home before moving again, it is more affordable to buy than to rent in ALL of the 100 largest metros in the U.S.
Costs aside, the decision to rent or buy a home is very personal. There’s a strong emotional component: some people want the security of homeownership and others want the footloose freedom of renting. But the financial factors are also very personal because the decision to rent or buy depends on:
  1. Can you qualify for a mortgage at the best rate available?
  2. Which tax bracket are you in, and do you itemize your deductions?
  3. How long will you stay in your home?
To calculate whether renting or buying costs less, we assume people can get a low mortgage rate of 3.5%, itemize their federal tax deductions and are in the 25% tax bracket, and will stay in their home for seven years. (Below, we’ll show how changing these assumptions can affect the rent-versus-buy math.) We do the following calculations:
  • First, we looked at all the homes for sale and rentals listed on Trulia in June, July and August 2012. On for-sale homes, we took the asking price and estimated what it would rent for; for rentals, we took the asking rent and estimated what it would sell for. That way, we can calculate the average rent and asking price for an identical set of properties in a metro area, for a direct apples-to-apples comparison. By looking at homes currently for sale or rent, we’re able to illustrate the actual housing options that consumers face right now.
  • Second, we estimated the total costs of renting and buying for the typical property in a metro over a seven-year period. We factored in all the costs of homeownership (e.g., closing costs, maintenance, insurance, taxes, etc.), along with the tax benefit of deducting mortgage interest and property taxes, as well as the proceeds from selling the home after seven years with modest home price appreciation. On the rental side, we factored in renters’ insurance and the security deposit. Finally, we calculate the net-present-value of all those costs to capture the opportunity cost of tying your money up in a down payment. This gives us the total cost of buying versus renting. We then calculated the dollar difference and percentage difference between renting and buying.
  • Finally, we looked at alternative scenarios of the costs of renting versus buying, by changing the mortgage rate, the income tax bracket for tax deductions, and the time horizon.
Where Buying is a Slam Dunk
With a 20% down payment, a 30-year fixed mortgage rate at 3.5% and at the 25% federal tax bracket, homeownership is cheaper than renting in all of the 100 largest metros by a wide margin. There is no market where the financial decision is even close, so long as you plan to stay in the home for at least seven years, get 3.5% mortgage, and itemize your tax deductions. However, how much cheaper it is to buy a home than to rent really depends a LOT on where you live.
Buying is 24% cheaper than renting in Honolulu, 28% cheaper in San Francisco, and 31% cheaper in New York. On the other end of the spectrum, homeownership is extremely affordable in Detroit, where buying a home is 70% cheaper to buy than to rent, and 63% cheaper in both Oklahoma City and Gary IN.

Original article found at Trulia.com and written by Jed Kolko.

Friday, September 14, 2012

NEW LISTING IN WESTERVILLE!

JUST LISTED!
~7846 Cobdon Ave~

A GREAT LOCATION CLOSE TO EVERYTHING! Two-Story home with nearly 2,000 SF on 3 finished levels nestled onto a scenic lot. Many updates include new carpet '12, roof & vinyl siding '04, central air '09, new laminate floors, garage door with opener & more! Family Room with fireplace walks out to a Florida Room. Master Suite with private Bath. Finished Basement has Den/Recreation Room & 4th bedroom. 3 BR’s & 2.5 Baths. Worthington schools. Only $159,900! Call DeLena today!

NEW LISTING in REYNOLDSBURG!


JUST LISTED!
~ 8865 Amaranth Ct~



VERY SPACIOUS HOME, NESTLED ONTO ~1/4 ACRE MATURE TREED, CUL-DE-SAC LOT! Two-Story,ceramic Foyer. Vaulted Family Room with skylights & fireplace. Island Kitchen with 42” oak cabinets. Partially finished Basement with Recreation Room & Half Bath. Master Suite with walk-in closet & updated Master Bath `12. Updated main Bath with ceramic floors `12. Spindled catwalk overlooks Entry & Family Room. Fenced yard with flagstone Patio & more!   4 BR's, 2 full and 2 half Baths! Nearly 2,900 SF! Reynoldsburg schools! Only $194,900! Call DeLena today!

Wednesday, September 12, 2012

NEW LISTING in WESTERVILLE!


JUST LISTED!
~ 4747 St. Medan Dr.~

FORMER MODEL FREESTANDING CONDO! “Patio Home” on ~1/4 acre wooded & ravined lot! Loaded with upgrades! Chef’s “Dream” Kitchen with tons of wrap around cabinets & granite countertops. Columned Dining Room. Den/3rd Bedroom & huge Laundry Room/Craft Room/Den. Expansive Master Suite with tray ceiling, Sitting Room & luxury whirlpool Bath. Great Room with windowed wall & custom built-in entertainment center. Quality everywhere you look! 2-3 BRs & 2 Baths. Nearly 2,500 SF! Olentangy Schools. Only $324,900! Call DeLena Today!
 
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