Central Ohio Real Estate Market News

I doubt that “un-comp-able” is a real word … in fact, I’m almost sure that it’s not. Perhaps, the only people that would understand its meaning are other real estate agents. We’ve all had homes that are so unique that they just don’t compare to any others that are on the market or have been sold recently.

Of course, we all know that the buyer is the REAL PERSON to decide what a home is worth, but in the meantime, the seller must decide on the price at which the home is listed, and they make that decision based on the comps we provide them. When there are no similar homes to compare to, it makes it much tougher for the seller to select a list price.

I’m currently working with some clients who are in the process of preparing their home for sale. They’re doing all the right things, so when we actually put the home on the market mid-August, I “expect” the home to sell rather quickly … IF we put it on the market at a reasonable price. So what should that price be?

The home is an all-brick home in the Worthington school district. It was custom built in 1991 which is “new” by Worthington standards. It’s a reasonably large 4BR home - over 2500 SF - and it has an owner’s suite on the first floor. It’s also located on a quiet, wooded, cul-de-sac street that is quite convenient to Rt 315 for a commute to OSU, Riverside Hospital, Battelle or downtown Columbus.

When I start looking at comps, I first do a broad search. For this home, I started with a search for active listings (our competition) that are over 2400 SF with 4 BR’s, in the Worthington school district. The search came up with 46 active listings priced from the high $200K’s to the $900’s. OK, that won’t work!

Old Worthington Inn

Many of the Worthington homes have REAL wood doors, woodwork, floors, custom built-ins and other nifty features that aren’t included in newer built homes except at a high price. This particular home has all those features, plus, a great hearth room off the kitchen with brick fireplace, wood bookshelves, bench seating and hardwood floors. I can just imagine sitting in this room on a cold winter day sipping hot chocolate by the fire. There’s also a screened porch for summer enjoyment overlooking the manicured backyard.

So what price range will I be recommending for the seller? I’m still working on that, but I’m narrowing it down … I think! Stay tuned, as you’ll be the first to know.

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