Posts filed under 'Selling a Home'

Increase Your Power When Buying and Selling a Home

One of the many services offered by Colleen Rock and The Rock Group is a loan shopping service. This service can find a way for buyers to get more home for their money, as well as present listings as an even better value.

Many buyers today mistakenly assume that when buying a home, they have to put down more than five percent. Otherwise, if they put down less than five percent, they are stuck with FHA financing that has expensive private mortgage insurance (PMI), which can raise their monthly payments by a couple hundred dollars per month, on average.

However, by working with The Rock Group and their loan shopping service, qualified buyers with less than 5 percent down may not have to worry about PMI. For example, Colleen Rock can inform her buyers of a conventional (not FHA) loan that allows for 3 percent down with NO PMI attached.

By skipping past the costly PMI, this can allow buyers to look at homes with higher asking prices, but still keep their monthly payments as low as originally budgeted, or get the home they desire for less per month than they expected. The Rock Group’s loan shopping service can give buyers home purchasing power they never realized they possessed.

Additionally, The Rock Group works with home renovators. Their loan service has a product that merges both the purchase price and the expected renovation costs into a single loan. This is not a FHA product, but rather a conventional loan, with a down payment of as low as 5 percent.

Not only have these loans helped buyers who are clients of The Rock Group, but sellers as well. Colleen Rock has been able to use her loan shopping service to educate the buyers of her listings of ways they can save money on their monthly payments, making it so Colleen’s sellers didn’t lose deals to buyers who wrongly assumed they could not come up slightly to purchase the house they wanted.

There are restrictions for these loans, of course, so it makes sense to talk with Colleen Rock and her loan specialists to find out how they can help you.

The bottom line is that this loan shopping service has put people in homes they otherwise would have never been able to consider.

When considering who to work with to meet your real estate needs in the northeast Ohio areas, the decision is an easy one… Contact Colleen Rock and The Rock Group, Cleveland’s real estate experts, at 440.895.1111.

home loan balancing act


1 comment December 29th, 2014

Tax on Home Sales Buried in Health Reform Bill?

Rumors are flying with respect to a Home Sale Tax buried within the Health Reform Bill. The answer is NO.

As always, our association (National Association of Realtors) works diligently in not only supporting homeowner’s rights, but also tracking issues of concern. Here’s a recent excerpt from our news feed that should help clear up some concerns:

Contrary to reports and newspaper articles circulating widely on the Internet, there is not a 4.0% “sales tax” or “transfer tax” on the sale of a home included in the recently signed health care reform bill. The analysis underlying these reports is incorrect and fails to take into account the interplay of the bill’s provisions with already existing real estate tax laws that remain unchanged.

What was included in the health bill is a provision that imposes a new 3.8% Medicare tax for some high income households that have “net investment income.” Any revenue collected by the tax is dedicated to the Medicare hospital insurance program. This new tax will only apply to households with Adjusted Gross Income (AGI) of more than $200,000 for individuals or more than $250,000 for married couples. Since capital gains are included in the definition of net investment income, an additional tax obligation might result from the sale of real property.

In the case of the sale of a principal residence, the existing $250,000/$500,000 exclusion from capital gains on the sale of a principal residence remains unchanged. Consequently, even when the AGI limits are met, the new tax would not be applied to all capital gains that result from the sale of a home. Rather, it would only apply to any home sale gain realized in excess of the $250K/$500K existing primary home exclusion that pushes the filer’s AGI over the $200K/$250K adjusted gross income limit.

The new Medicare tax will not take effect until January 1, 2013.

For more information on the new Medicare tax, please consult NAR’s Health Reform Q&A on this and other provisions of the new health reform law located at:

October 14th, 2010

REALLY? “Federal Energy Audit Certificates” required prior to selling a home?

Since the signing of HR 2454, the American Clean Energy and Security Act of 2009 (aka “the cap and trade” energy bill signed on 6/26/09) rumors have been flying.

The most rampant seem to be:
1) Homeowners will be required to obtain “federal energy audit certificates” before selling their home; and
2) Homeowners will be required to update their homes, per the federal government’s compliance levels, before selling or transferring real property.

This is false… at the federal level. I say this with caution, because the House-approved Bill leaves the decision to states as to whether or not they wish to require energy audits, disclosures, etc. For additional information on this topic, visit the following sites:

April 3rd, 2010

House Whisperers

As the economy continues to gyrate in general, the inventory of homes for sale is at an unprecedented high.  After 18 years in real estate, I’ve learned – when it seems like there’s no way out – dig in. 

 So I roll up my sleeves, work harder and push the limits of creativity. Which is exactly what led to my beginning this blog.  For those that know me, I could easily write, and write, and write. However, as Jimi Hendrix so eloquently put it – “knowledge speaks, but wisdom listens.” 

I wanted to blog and share something that was different and hopefully beneficial to both home sellers and buyers.  So, after much prodding from associates… drum role please, I’m introducing you to my latest marketing tool; which I like to call, House Whisperer.  The House Whisperer tells the story of a home through the heart of the owner, but from the house’s perspective. You got it- right from the horses’, that is, house’s mouth.

Now here’s where I can become wiser. I’m including a House Whisperer story below for a  current listing I have in Rocky River, Ohio. I’d be very interested in hearing your feedback. So please, leave comments and/or suggestions:


Yes, as a matter of fact, I’ve been very well cared for, doesn’t it show?

My impeccable landscaping, snazzy newer walkways, and large, newer maintenance-free deck – that begs to entertain your guests- only add to my charming and stylish exterior. With newer windows and siding, I’m also gallantly strong and energy conscious with the ability to resist Northeast Ohio’s seasonal changing elements.

 And, I’m not just another pretty face. Take a closer look at me on the inside too!  I’m smart, efficient and offer an excellent value. Plus, plug away! My electrical has been updated to insure high performance. The spacious, but also comfortable family room boasts a real wood-burning fireplace, with newer glass doors and access to a private patio. I know I keep mentioning the word newer quite a lot, don’t I? My owner has updated both my bathrooms, with shiny new fixtures. And your feet are surely in for a treat because there’s newer carpeting and ceramic tile flooring throughout. What’s nice to point out about living in a split level, like me, is the desirable option for an owner to take full advantage of the physical and psychological space – each level unobstructed from the other with places to escape. For example, one person can be enjoying a hobby, or watching their favorite show in the family room, while someone else is enjoying another interest on the main floor, while still another is snuggled for bed upstairs.

I’m considered a great catch, because of my convenient location, which is hard to beat. You see, I told you I was both smart and pretty.


 Thank you,
Colleen Rock

August 8th, 2009


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