Central Ohio Real Estate Market News

Mailbox litter – how do we stop it?

11/20/2009 · Leave a Comment

How do you feel about businesses attaching their self-promotion flyers on your mailbox? I think it is a violation of USPS rules, but that doesn’t stop people from doing it. Don’t know about your area, but my neighborhood gets the flyers from landscapers, deck builders, maids, churches, driveway sealers, and yes, even a dentist.

I personally don’t care for these flyers as they make the neighborhood look messy, especially when they blow away into our yards and streets. Similar to these flyers are the “free” newspapers that are thrown in our drives.

As a Realtor®, this “litter” creates real problems when the home being sold is vacant. To keep the home looking presentable – and NOT look vacant – I do frequent drive-bys to remove the papers and flyers. I know the days the newspapers are delivered, so I time my schedule to do the pick-ups then. The other business flyers are random, so they are harder to monitor.

In my previous career, I traveled frequently. I would make arrangements with the P.O. to hold my mail while I was gone. There was nothing I could do to stop the incessant flyers other than ask my poor neighbors to toss the junk around my mailbox when they saw it. There was one real estate agent who habitually left flyers, so I called her to explain my situation and asked her to please not leave the flyers at my address. Apparently my multiple requests to her fell on deaf ears, as it didn’t stop. When it came time for me to sell that home, guess which Realtor® I DID NOT call.

With the issues we have today of thieves entering vacant homes to steal copper, these flyers have become even more of a concern because they are a bold advertisement of an empty, unoccupied home.

I would like to make a plea to to the businesses using this form of advertising and to the newspaper delivery folks. If you see a “For Sale” sign in the yard, please don’t tack your flyer to the mailbox or throw your paper in the drive. You might just be contributing to a burglary.

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

→ Leave a CommentCategories: Central Ohio · Commentary · Home selling process · Homes · Homes for sale · Safety · Sellers · Sellers
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More Info on Home Buyer Tax Credits

11/18/2009 · Leave a Comment

The National Association of Home Builders has a very complete section regarding the extended/expanded Home Buyer Tax Credit that was approved earlier this month. If you plan to take advantage of either the $8,000 1st Time Buyer Tax Credit or the $6,500 Tax Credit for Current Homeowners, you should visit this site. It has an FAQ section that addresses special situations that people may have.

We’re beginning to see excitement for the CURRENT owner portion of the the Tax Credit. A number of sellers are thinking this might be a good time to act, even if it does mean having their home on the market over the holidays. Since we’re having rather mild weather right now, it is a more pleasant time to shop for a home rather than waiting till January to do something.

Related article: Uncle Sam is Willing To Give You Some Money

→ Leave a CommentCategories: Buyers · Central Ohio · Home buying process · Home selling process · Homes · Homes for sale · Sellers
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Chihuly glass exhibit at Hawk Galleries

11/15/2009 · 1 Comment

This afternoon my daughter, granddaughter, their husbands and myself visited the Hawk Galleries at 153 E Main St in downtown Columbus. My granddaughter is an award-winning sculptress and her husband is a graphics designer, so they were interested in seeing the Chihuly glass exhibit that is on display. There were two other designers displayed as well. What these artists have done with glass is absolutely fascinating.

The gallery encourages taking photos so I took my fair share. They lose some clarity with the Internet upload process, but I think they still look pretty good.

BTW, the brownish art piece that we’re standing in front of, had a price tag of $150,000. We couldn’t find a price tag on the colorful chandelier that the four of them are standing underneath. No doubt it’s beyond the “if you have to ask, you can’t afford it” category.

We thought the photo of the four of them would make a great Christmas card.

For the best view, click the “Full” screen icon on the lower bar.

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

→ 1 CommentCategories: Central Ohio · Columbus Ohio · Franklin County
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Looking into the “red eye”

11/13/2009 · Leave a Comment

Have you ever watched a TV reporter interview someone and wondered why the person being interviewed sounded so inept, or perhaps looked uncomfortable, making them look suspicious? You secretly thought to yourself that if the situation ever presented itself, that you would do an excellent job like a pro.

This is what it can look like and what you’ll be talking to, rather than having a normal conversation with a person. Puts a different perspective on things doesn’t it?

TV video taping

Look carefully … you’ll see my face relected in the lens.

→ Leave a CommentCategories: Central Ohio · Media · Television

Home Sales Jan-Oct ‘09 vs ‘08 IMPROVE!

11/11/2009 · 2 Comments

I just updated the Jan-Oct 2009 vs 2008 stats for the homes sold and the average prices for key school districts. Good News! The year-to-year decline was less than it was in June. I think the $8,000 1st Time Buyers Tax Credit helped as those buyers scrambled to take advantage of the credit before it expired.

While the districts still experienced some decline, the declines were modest.

09 v 08 Jan-Oct Home Sales

Click to enlarge graph

Read More:
View Jan-Jun 09 vs 08 Home Sales Report

Read update on $8,000 First-Time Home Buyers Tax Credit

 

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

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House of Representatives Passes Health Care Reform Bill

11/08/2009 · Leave a Comment

This blog is for real estate and I intend to keep it that way. I don’t intend to turn it into a political blog but since our government is making decisions that affect the real estate industry, I’m finding that to keep you up-to-date on the real estate industry, I should advise you of those changes that impact your ability to own and keep your home long-term. I like to read “both sides” so I can be a better informed citizen.

Last night, the House passed a Health Care Reform bill. This morning there has been much discussion on Facebook and Twitter about the good or bad of the bill. I’m still trying to sort it out and determine how it will affect me. Maybe you’re trying to do the same thing.

So far, I’ve found a couple links … I’m sure there will be more, and as I find them I’ll add them here.

Here is an interactive map from the New York Times of how the Representatives voted by state. You can click over the map to see how your representative voted.

Here is a Wall Street Journal summary of some key points to the bill. Read through it to decide how it will affect your own life.

→ Leave a CommentCategories: Central Ohio · Commentary · Media · Newspaper
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Uncle Sam is willing to give you some money

11/06/2009 · Leave a Comment

NEWS FLASH!! Homebuyer Tax Credit has been extended for 1st Time Buyers and expanded to include Current Homeowners who want to move!

Did you hear today’s news that government has passed an extension to the 1st Time Home Buyers Tax Credit AND have added another credit for current homeowners.

Here are some details that are the same for both segments of the bill:

  • Both segments of the bill will be for transactions that go into contract between the date that Obama signs (Nov 6)  thru Apr 30, 2010. The transactions must close prior to Jul 1, 2010.
  • Income limits have been increased to $125,000 for singles, $225,000 for married couples.
  • Limit on the price of the home is $800,000.
  • Purchaser must attach documentation of purchase to their tax return.

Details for 1st Time Buyers

  • Can receive up to $8,000 ($4,000 married, filing separate)
  • Cannot have owned a home (principal residence) for the past 3 years

Details for Current Homeowners – NEW!

  • Can receive up to $6,500 ($3,250 married, filing separate)
  • Must have used their current home as principal residence consecutively for 5 of the previous 8 years.
  • The new home you buy doesn’t have to be more expensive than the home you’re selling. In other words, you can downsize if you want.

While many 1st Time Buyers took advantage of the tax credit this past year, there was nothing to help the move-up market because those 1st Timers often bought REO, short-sale or foreclosed homes. The National Association of Realtors® and numerous real estate bloggers begged and pleaded for help with homes in the upper prices since they were often just sitting on the market. 

This new program will benefit higher-priced buyers as well as help sell homes in the higher price ranges.

If you’re a higher-priced buyer, should you act now? Naturally, only you can decide that, but here are some things to consider:

  • Interest rates have been hovering around 5%. Bernanke is watching for signs of inflation. If inflation begins to creep up, interest rates may be allowed to increase to stem inflation. They know that this could slow real estate’s recovery, and they really need the real estate market to improve, so it will be a tough decision.
  • If this new bill works as we hope it will, increased demand may actually cause prices to rise somewhat.
  • If you were thinking of putting your home on the market next year, you may want to move up your timing to take advantage of these tax credits both for you and for the appeal to your buyers.
  • Also, if buyers act on this program by April, that may mean that demand will be lessened (exhausted) by the end of April. If demand decreases afterward, so will your potential price.

A 1-point interest rate increase will cost you far more than waiting for prices to decrease further

For instance in the example below, a $200,000 price with 3.5% down at a current interest rate of 5%, would result in a mortgage payment (P&I) of $1,036. At 6% interest, the payment would be $1,158. Over 30 yrs, that will cost you an additional $43,772. Even if the price comes down $10,000 to $190,000 but the rate increases to 6%, your monthly payment would be $1,100, costing you an additional $22,928. If the price increases just 5% and the interest goes to 6%, then you would pay an extra $179 per month.

Home Price $200,000
Price Chg -5% No Chg +5%
New Price $190,000 $200,000 $210,000
3.5% Dwn Pmt $6,650 $7,000 $7,350
Mtg Amt $183,350 $193,000 $202,650
P&I at 5% Int $984.59 $1,036.41 $1,088.23
P&I at 6% Int $1,100.10 $1,158.00 $1,215.90

Naturally the higher priced the home, the greater the savings. Notice that the money coming from Uncle Sam hasn’t even been included in the above data. Interested or want more info? Give me a call and we’ll get your home on the market.

View comparison chart to the 2009 Tax Credit

Read FAQ’s for New Tax Credit

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

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Harnessing the power of wind

11/04/2009 · Leave a Comment

Have you ever seen a wind turbine farm? They’re pretty impressive. I saw my first during a drive from Palm Springs to Los Angeles on a business trip years ago. I think the area is where the Santa wind turbineAna winds prevail, although I’m not sure. I do know that when we rounded a curve on the freeway east of LA, we saw mile after mile of probably hundreds of tall turbines. Some were turning while others were stopped. I learned later that whether they rotate or not, depends upon the demand for electricity.

When I visited Glacier Ridge Metro Park west of Tartan Fields, I noticed a tiny turbine that is used to power the park’s lights. It was so small, it almost looked like a toy airplane.

When I was young, it was common for farms to have a windmill to pump well water. The windmill at an uncle’s farm made a rhythemic sound when the blades would go round ‘n’ round. It was rather soothing, much like the clatter-clatter of the wheels of the old trains rattling on the tracks. These new wind turbines don’t seem to offer that charm but maybe we’ll get used to them.

Read more about China’s investment in a Texas wind farm.

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

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I’ve declared war on powderpost beetles

11/02/2009 · Leave a Comment

powderpost beetle wood damageAside from the joys of owning your own home, there is the responsibility to continue to maintain it. Sometimes it seems we are in a war with critters who choose to make OUR home THEIR home.

Now, I’m not an entomologist, as I tend to categorize all insects into the “BUG” category, but I’m thinking BUGS are beginning to take over the world. I know that they outnumber humans in population. Normally I have a “live and let live” attitude and prefer to not use insecticides, but I’m rethinking that.

I suspect that the billions of bugs are laughing at us unsuspecting humans as they do their work in secret without us realizing it until the damage is done.

powderpost beetle damaged woodYesterday I was cleaning up my yard, getting it ready for the winter, when I noticed that several rails of my split-rail fence have been ruined by what I believe is the powderpost beetle. As I said, I’m not an entomologist but I had to replace a rail a couple years ago, and the fence guy said that’s what it looked like. Well, this year I have about 6-7 rails that are toast. These beetles eat the wood from the inside until the outside finally collapses.

Since I have 225 ft of fencing with 3 rails between the posts, this can get to be expensive.

Let it be known that I’ve now declared war on these beetles. It’s too late this year to do anything, but they need to find someone else’s fence to destroy next year or THEY will be toast instead of my fence rails.

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

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Visitors Are Moving In

10/29/2009 · 4 Comments

Have you noticed it’s that time of year when unwanted guests are trying to move in with us for the winter?

Asian lady beetleIf you live around an area with lots of trees, you’re apt to be plagued by the orange Asian lady beetles. Their official biological name is Coccinella transversalis. They were imported to help farmers with aphids on crops, but as so often happens, they have now become a pest. Plus, they stink and they bite! They’re just not desirable like the little red spotted ladybugs.

I was showing a home one time that had a mass of the Asian beetles in the basement near an incoming pipe.The cluster was about 14″ wide and a couple inches thick. There must have thousands of the beetles in the mass.

squash bug

I found this other odd looking bug near my back door. I definitely didn’t want it to make its way into my home. Talk about UG-G-L-Y!

It’s a squash bug or also called a leaf-footed bug (coreidae). To me, it looks like a bug in a tuxedo with FlashDance-style leggings. Or else it’s dressed up like Lady GaGa. :-)

I think I need to spend the next sunny day going around my house to caulk all potential holes.

Copyright © 2009. Elaine Reese, Real Living HER. Reproduction of any portion of this blog post or the images is prohibited by the Digital Millennium Copyright Act. If this post is being viewed on any site other than www.ReesesPiecesOfRealEstate.com then the material has been stolen without permission. Violators will be reported.

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