Monthly Archives: June 2010

Central Ohio Housing Stats have been updated

I’ve been able to update the YTD housing stats now to reflect the end-of-May results. Simply click on the following underlined links to see the data that is important to you.

Unit sales & average home prices for Jan-May 2010 by school districts in southern Delaware County and northern Franklin County

Unit sales & average home prices for YTD by key subdivisions in some suburbs in southern Delaware County and northern Franklin County

Real estate broker market share by school districts in southern Delaware County and northern Franklin County

Why are there farm silos in Powell?

Are you planning to relocate to Powell? Or are you a new resident of Powell? You may have wondered why there are farm silos in the midst of one of the strip malls on the west side of Powell.

Big Bear silos in Powell OH 43065

A long, long time ago there were local grocery stores called Big Bear. The company had a beautiful farm and home that was on the land and the silos were part of the farm which raised some of the meat sold in the stores. The home eventually was used for meetings, weddings and other occasions.

Unfortunately, the company fell on hard times and was purchased by a larger company, that apparently made bad decisions allowing competitors to come into the market. The grocery stores later went out of business.

I don’t know all the interim details but the farm buildings were torn down except for the silos. To the north of the silos there is now a housing development called Big Bear Farms. Of course, with all the growth that Powell has experienced in recent years, there are many strip centers, eateries, and other businesses in this area now. No doubt, these businesses bring in substantially more tax dollars, but I rather miss the green-roofed, white sided buildings with beef cattle in the fields.

Read about the Big Bear history.
See photos of the stores.

Copyright © 2010. 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.

More good news for the central Ohio housing market!

WOW! The number of homes sold for the Jan-May period is still increasing for the following school districts! The government tax credits, that required home buyers to be in contract by the end of April, contributed to strong May sales. Just look at this chart to see the large percent increases vs homes sold in 2009.

Jan-May 2010 home sales in central Ohio

Click to enlarge chart

The white bars, in the above graph, reflect the number of homes that are in-contract/pending. The average price of those in-contract/pending sales are:

  • DUBLIN SD – $362,027
  • OLENTANGY SD – $361,481
  • BIG WALNUT SD – $256,085
  • WORTHINGTON SD – $226,130
  • BUCKEYE VALLEY SD – $214,171
  • HILLIARD SD - $211,550
  • DELAWARE SD – $155,216

At a recent office meeting when we were discussing how the real estate market would behave once the tax credits were gone, it was mentioned that since the interest rates dropped in May, buyers would be saving more with the lower rates than they did with the tax credits!

I also just recently checked the interest rates for jumbo loans and they are substantially below what they were last year. So, if you are planning a home purchase that requires a jumbo mortgage, check with your favored lender. You may be surprised to learn what the jumbo rates are.

Give me a call if you need assistance in purchasing or selling your home. I’ll be glad to help you. 

See average home PRICES by school district.

Copyright © 2010. 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.