Category Archives: Dublin Ohio

Articles about Dublin Ohio

Jan-Jun 2011 home sales reports

Posted on 07/30/2011 | Leave a comment

Wondering how home prices are holding up for your area? I just finished updating two data pieces to reflect Jan-Jun 2011 home sales. One chart shows sales by school district; the other shows sales by key subdivision within various suburbs. Click the links below to visit those pages.

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

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10-Yrs of Home Sales Show That It’s A Buyer’s Market

Posted on 06/21/2011 | Leave a comment

Yesterday I posted a graph showing the average prices of homes sold the past 10 years. Today I’ve prepared a graph showing the NUMBER OF HOMES SOLD  in that same time period. This chart illustrates why there is so much concern about the real estate market and the need to improve the sales because the real estate industry supports jobs for many related industries.

2002-2011 # Homes Sold Jan May in central Ohio

Click to enlarge, then click again

You’ve probably heard Realtors® say that there are fewer buyers than there were in the early part of the 2000 decade. This chart certainly illustrates that. The bump-up in 2010 was due to the $8000 Gov’t tax credit for 1st time home buyers. Buyers had to be in-contract by the end of April to take advantage of that tax credit. Some of those contracts would have closed in May, thus driving up the sales for the Jan-May period.

Prices and interest rates have been declining in recent years, which should drive up the demand, but that’s not happening. The financial institutions began eliminating 100% financing and established tougher criteria for buyers to meet when seeking mortgages. Buyers had to begin having some down payment money and better credit scores. You can see this effect with the declines after 2007. This financing change impacted 1st time buyers the most and that’s likely why Hilliard and Westerville sales have declined so visibly as both suburbs are popular with 1st time buyers due to the average price of the homes. (See yesterday’s chart)

What should your take-away be from this chart’s info?

  • Buyers: If you have the funds, it REALLY IS a good time to buy.
  • Sellers: Competition is stiff so your home needs to be priced right and in top condition to appeal to the few buyers that are shopping.

View same data for AVERAGE PRICE OF HOMES SOLD

Copyright © 2011. 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, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Hilliard Ohio, Home buying process, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Schools, Worthington Ohio

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Real Estate Sales Are Local

Posted on 06/20/2011 | Leave a comment

Many national organizations quote trends in real estate prices. There is a real problem in paying attention to those numbers and “assuming” those trends apply to our local central Ohio area. Each market is different and within each market there are differences. We often don’t know whether the data is for single-family homes only, or whether they include condos. Perhaps someone has quoted sales by zip code, which here in central Ohio, can include 2-3 different school districts, giving a meaningless number. I prefer to only gather sales data for single-family homes by school district since that is the way most buyers shop for homes.

I just completed updating the 10-Year Averages of the price homes sold for from January thru May by school district.

2002-2011 Avg Prices homes sold for Jan-May in central Ohio

Click to enlarge chart, then click again

You can’t view that chart and make a blanket statement that “prices are up” or “prices are down“, yet the EXPERTS do that all the time. The one take-away conclusion we CAN make is that the local real estate market has not recovered from the highs in 2006-2007. Many listing agents will tell sellers that if they bought their home in 2004 or after, they will not be able to sell for what they paid for the home.

View same data for the NUMBER of homes sold.

Copyright © 2011. 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 Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Hilliard Ohio, Home prices, Homes, Lewis Center Ohio, Powell Ohio, Worthington Ohio

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Charming home in Dublin schools is for sale

Posted on 03/01/2011 | Leave a comment

Looking for a good value in the Dublin school district? This home may just be what you want. This one-owner home has been lovingly cared for, and well-maintained over the years. You’re sure to enjoy the 3-season room and brick patio when the weather warms after this past winter!

Notice the entertaining-sized main floor rooms. Over time the kitchen has been updated with new cabinets, counters, ceramic backsplash and faucet. A large rec room was finished in the lower level. If you have a hobby, you’ll love the lower level workroom as well. Also replaced from the original: roof, gutters, windows, siding. The vinyl siding has insulated backing.

For extra storage, there is a garden shed in the backyard or above the garage via a drop-down ladder.

SOLD for 97% of list price at $193,000 in 39 days!

G o o g l e Map

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Posted in Central Ohio, Columbus Ohio, Dublin Ohio, Elaine's Listings, Franklin County, Homes, Homes for sale

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Are you getting your money’s worth?

Posted on 02/07/2011 | Leave a comment

In Ohio, our property taxes pay a good portion of the funding for schools. That has been a hot topic politically for several years and the issue isn’t resolved yet. Of course, our property taxes pay for more than just the schools, such as police, fire, emergency services, libraries, etc.

For a number of years, I’ve provided readers with a graph of the residential tax rates for all the taxing areas within a school district. With every update each year, the tax rate increases. There are also significant differences from one school district to the other depending on the levies residents have voted on. How much a school has to spend can also rely on the number of homes, the type of property (upscale homes vs farm land) and the concentration of retail, office, and corporate businesses.

This year I added in the Ohio Dept of Education’s report card rating. As I was retrieving all the data, I thought that the higher ODE ratings would match the higher county assessed property values. As you’ll see on the chart, a district such as Buckeye Valley (mostly rural) seems to be “doing more with less” in that their ODE rating is the same as much higher assessed (taxed) districts.

central Ohio assessed tax rates per school district

Click to enlarge chart, then click again

Additional Stats
School District Graduation Rate 2010 Avg Home Price
New Albany 99.6% $429,398
Dublin 98.5% $331,705
Upper Arlington 98.3% $353,377
Hilliard 95.4% $197,642
Buckeye Valley 94.2% $205,342
Westerville 93.4% $193,447
Olentangy 98.1% $335,190
Big Walnut 97.9% $283,001
Worthington 95.5% $231,887
Delaware 91.5% $142,116

Copyright © 2011. 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, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Schools, Worthington Ohio

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What will housing prices do in 2011 in Central Ohio

Posted on 02/03/2011 | Leave a comment

Let me start by saying that I don’t believe anyone knows what home prices “will do” in 2011. There are just too many variables and too many national or global events that can have an impact. It also depends on the data the “forecaster” is using and the area the forecaster is considering.

Recently Forbes projected that the Columbus metro area housing prices would see a 2.1% price increase. Columbus was 5th of the 10 markets projected to increase in 2011.

“There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn’t valid anymore,” notes Alex Villacorta, senior statistician at Clear Capital. “Overall we’re seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery.”

Business 1st just released a 2011 projection with a headline that prices “will stink”. Their source was Fiserv, Inc.

Fiserv Inc. reports average home prices in Central Ohio fell 1.5 percent from the third quarter of 2009 through the end of the same period in 2010. Battered homeowners could see those prices sink an additional 2.8 percent by the third quarter this year and, according to Fiserv’s projections, and not begin to turn around until mid-2012.

That’s two totally opposite points-of-view. We all know that all real estate is local. In January, I did a year-end review of 10-Year Average Prices for the area I service. For my service area, I would project that prices may be stable-to-increasing for southern Delaware County (Powell, Lewis Center, Galena) and Dublin. Someone reporting on Hilliard, Westerville or Delaware real estate might have a different viewpoint.

The one thing I DO know is to not pay attention to National numbers. Another good idea is to always look at the source of the data the forecaster is using AND whether there is a motive to skewing the numbers to fit a particular objective.

If real estate is “location, location, location” then quoting data is “challenge, challenge, challenge”.

Copyright © 2011. 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, Media, Newspaper, Powell Ohio

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