Ohio Real Estate's Complaint Department: The Ohio Department of Commerce's Division of Real Estate and Professional Licensing
The Division of Real Estate is for consumers and Real Estate professionals alike to provide feedback on what does not seem correct within the Real Estate industry. Unfortunately, there are people and entities out there that are not out to benefit the greater public. They find loop holes in the laws or use marketing techniques that persuade others to use their services that seem just too good to be true.
It never hurts to give the Division of Real Estate a call (614 466-4100) if you uncover something questionable. It is apart of being an informed consumer and Real Estate professional.
There is more and more talk nationally about inflation and the need for lending restrictions to "loosen". How does this affect Real Estate? Real Estate is not considered in the major factors of inflation; but, Real Estate is considered as an asset and nationally there has been no price increases of Real Estate. However, as far as the Real Estate category, rents are included in inflation calculators and they are predicted to rise.
If I had to predict, I would say that we are going to see an increase in interest rates here soon (inflation) along with "loosening" the lending restrictions to balance each other out. I think the historical low rates are about tapped out because there are fewer and fewer of those who have stellar credit to acquire the mortgages that are available right now. In order to generate business, banks will feel pressure to loosen their purse strings and the interest rate will reflect this allowance by increasing.
Mind you that there is the big behemoth of the Dodd-Frank Wall Street Reform and Consumer Protection Act being implemented to protect consumers and to protect the stability of the Real Estate Market. It is going to happen sometime. You know they are going to find a way to prime the pump and get the water flowing again.
Anything related to marketing and/or advertising now-a-days I take with a grain of salt. I have peered behind the curtain of marketing and advertising to see so many misleading, slight of hand factors fed to the public. I do not know about you; but when I buy something that is a major purchase like Real Estate and it takes me 15-30 years to pay it off, I don't want gimmicks, misleading facts, or a "secret" formula guiding my choices.
I want to analyze the raw data to draw my own conclusions, thank you very much.
Yes, it is amazing how much data and information is out there on the Internet. I know we have emerged in to an era where we as a society crave this information to make our decisions. I'm just asking you to be aware of your sources. Ask yourself: "What is their purpose?" "Are they really trying to help me make a correct decision or are they selling me hooey?"
Let's pull the curtain away to reveal the wizard. Let's really look at Real Estate. Real Simple.