Monthly Archives: July 2010

Wedgewood Golf & Country Club in Powell – a tour

Posted on 07/17/2010 | Leave a comment

Wedgewood Golf & Country Club is the focal point for the Wedgewood subdivision in Powell. The area was part of the BIA Parade of Homes in the early 90′s, with two main streets circling the main part of the golf course. Wellington Bl aligns along the west side then circles around to the south where it then becomes Fairway Dr which runs parallel along the east side of the course.

Soon after you enter the subdivision (on Wellington Bl) there are three streets (Oxford, Tavistock & Gleneagle) which contain patio homes, sometimes called cluster homes due to their smaller lots. This style of home is popular for people who want a large luxury home but with less lawn care thanks to smaller lawns.

Yesterday I mounted my camera on my dash as I drove around the area. It may appear that I was speeding, but trust me, I was going less than the posted 25 mph limit. I think it’s the camera angle … at least that’s my story and I’m sticking to it. :-)

So far this year, 14 homes have sold in Wedgewood at an average price of $550K. The highest price so far this year is $910K. In the Fairway Dr area there are many free-standing and attached condos or fee-simple homes. YTD, three have sold at an average price of $236K.

Wedgewood is located in the Olentangy school district and in Liberty Township which is outside the city limits of Powell. Visit these other sites for more information:

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.

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Posted in Central Ohio, Delaware County, Golf course communities, Home prices, Homes, Powell Ohio, Wedgewood

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Is it a Buyer or Seller market?

Posted on 07/15/2010 | 2 Comments

tug 'o' warThe answer to that question is “it depends”. How’s that for a non-answer! I looked at sales and absorption rates for just the Olentangy school district, since that’s where most of the sales occur in Delaware County. The “experts” generally consider an absorption rate of 6-7 months to be a stable market. Less than that would be a seller’s market. Over that, of course, would be a buyer’s market.

What I found is that the type of market depends upon the home’s price, at least according to the Active Listings that were available yesterday afternoon when I pulled the numbers from the CBR MLS system.

This chart shows the number of homes sold between Jan-Jun for last year and this year. The ‘% Chg’ column is the year-to-year change of the number of homes sold. The Active Listings reflect the number of homes that were available for purchase yesterday afternoon. The final column shows the number of months it would take to sell the active listings based on the sale rate during the first 6 months. What is not shown are the homes that are currently in-contract.

Olentangy School District Home Sales Jan-Jun 09 vs 10
Sold Price Sold 2009 Sold 2010 % Chg Active Listings Mos to Sell
<$200K 50 54 8% 50 6
$200′s 160 191 19% 210 6
$300′s 98 122 24% 171 8
$400′s 48 54 13% 73 8
$500′s 20 26 30% 57 13
$600′s 14 10 (29%) 48 29
$700′s 7 9 29% 27 18
$800′s 1 2 100% 19 57
$900′s 2 2 - 9 27
+$1,000′s - 6 - 35 35

Based on what the chart is telling us, homes priced under $299,999 are in a stable market. In the $300′s thru $400′s, it’s moved just slightly into a buyer’s market. $500,000 and up is definitely a strong buyer’s market.

So how do you use this info? If you’re a buyer interested in a home costing $225,000, it’s probably not wise to submit an offer of 85% of list. You’ll just anger the seller. However, if you’re buying a home over $1,000,000 then “go for it”! :-)

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.

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Posted in Buyers, Central Ohio, Galena Ohio, Home buying process, Home prices, Home selling process, Homes, Homes for sale, Housing stats, Lewis Center Ohio, Powell Ohio, Sellers

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The best photo blogs by Realtors®

Posted on 07/14/2010 | 2 Comments

Columbus Police watching from the Union ArchPhoto blogs have become a side-feature for some Realtors®. We already have our cameras with us in the car so taking non-real estate photos is easy for us to do throughout our daily travels. These photo blogs provide a nice visual to what non-residents can expect to see locally, plus, as I’ve had people tell me, some of the photos I’ve taken give a different perspective that locals take for granted.

There are some very, very good photo blogs and I’ve posted the list on my photo blog at olentangyliving.com.

I just added a new one to the list from a husband-wife team of agents from Fairbanks, Alaska. Where I might talk about the rabbits in my yard, they show moose & a grizzly bear . Where I have photos of shoveling snow, they have a photo of ice-coated eyelashes in 40-below temps. Br-r-r-r. There are also plenty of pix of the mountains and the unusual sky patterns they have up there. It’s an interesting way to learn more about that state vs what we see in the political stories … except for the moose … the moose are still there. (What’s the plural of ‘moose’?)

There are four other agents who have excellent photo blogs. These are the best of the best:

  • The McGillicuddy’s in New Hampshire. If you like the calendar-like photos of the New England area, you’ll love their blog. Just maybe you’ll also see some of the huge lobsters they get to eat on a regular basis. I’m so jealous.
  • Kristal Kraft in Denver takes gorgeous pixs of that mile-high city and of course the Rocky Mountains. She recently took a trip to Arizona with some gorgeous photos of that state’s terrain.
  • Teresa Bordman of St. Paul captures that city through her very unique, sometimes humorous viewpoint.
  • Dave in Tucson is a favorite for me, having lived there for a brief time. Beautiful scenery all around the desert.

Kristal and Teresa have really honed their photography skills and often shoot using HDR, which gives a very interesting artsy perspective. I don’t yet understand HDR and the layering, but it’s pretty cool what it does to a photo.

If you like viewing photos of something other than soybean or corn fields plus to learn more about these regions, I highly recommend visiting these photo blogs.

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Posted in Central Ohio, Realtors®, Technology

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10 Years of Home Prices in Central Ohio

Posted on 07/11/2010 | Leave a comment

I’ve prepared a 10-Year chart for several school districts that shows the yearly change to the average price of the homes sold between Jan-Jun each year. This provides a good visual that illustrates how even though prices are improving, they haven’t yet caught up to earlier levels.

When sellers meet with a Realtor® to discuss pricing their home, often the agent will tell them that they can’t sell for a price higher than the price they paid for the home IF the home was purchased 5-6 years ago. This is especially true for people who purchased new builds in the 2003-2007 timeframe. Due to the subprime mortgage meltdown, prices began falling and especially deteriorated in 2009 when so many people lost their job. For 2010, we’re seeing prices once again rise – which is good news for the economy – but they haven’t risen to the 2005-2006 levels.

I should be noted that these average prices merely indicate what the price was that buyers were paying for homes in that school district. It doesn’t necessarily mean the seller had to reduce their price by the same percentage, however, they may have had to price their home more competitively in order to appeal to a buyer. Another caveat is for districts with fewer sales, where the sale of one high or low priced home can make the data more volatile. (Big Walnut is an example)

Click to enlarge graph, then click again

NOTE: I’ve divided the Olentangy district to west of Rt 23 (PO) and east of Rt 23 (LC) because it is such a large district and there is such a difference to the average prices.

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.

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Posted in Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Home prices, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Worthington Ohio

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Time for the Dam Jam this Friday, the 16th

Posted on 07/10/2010 | 2 Comments

Dam Jam party in Shawnee Hills OH

It’s nearly time for the fun party near the Bogey Inn, called the Dam Jam, in Shawnee Hills. Shawnee is a “tiny” area at the northeast corner of Muirfield Village and just west of the Columbus Zoo, across the bridge over O’Shaunessy Dam. The section of Glick Rd near the dam and the Bogey Inn will be closed to vehicle traffic. As the sign says, the party will occur July 16, 5:00-12:00 pm. Go and have lots of fun. See Google Map.

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Posted in Central Ohio, Delaware County, Golf course communities, Muirfield, Powell Ohio

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Helpful info for home buyers & sellers

Posted on 07/09/2010 | Leave a comment

Real Living HER, Elaine Reese yard signPlanning to buy or sell a home and not sure what agent to select? I just updated the charts that show the Top 5 Real Estate brokers by some school districts. Naturally Real Living HER has the leading market share around the Columbus metro area, selling more homes to or for our clients by a wide margin in most school districts.

How do Real Living agents do it? They have the support and tools of a broker that has been recognized nationally as one of the most innovative in the nation. So, check out the results for your area, then give your favorite Real Living agent a call. Hopefully, you’ll call me. :-)

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Posted in Buyers, Central Ohio, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Real Living HER, Realtor® selection, Realtors®, Sellers, Worthington Ohio

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