Category Archives: Hilliard Ohio

Articles about Hilliard Ohio

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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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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10-Year Review of Average Home Prices for Central Ohio

Posted on 01/04/2011 | Leave a comment

It’s a new year and that means it’s time to take a look at how home sales – specifically average prices – did in 2010. Did they continue to slide down or have they turned the corner?

As usual, I calculate average prices by school district because that provides a more accurate review than if zip codes or cities were to be used. Zips and city boundaries sometimes cross school and county boundaries, thus, making them inaccurate.

The chart below shows average prices for Jan-Dec for single-family homes only. No condos included. You’ll notice that most districts improved their average home price for 2010. 2004-2005 still seems to be the benchmark years where people who purchased their home on or after those years may need to sell their home for less than they paid.

2001-2010 Avg Prices homes sold for Jan-Dec in central Ohio

Click to enlarge chart, then click again

If you have any questions on your specific home, give me a call at 614-825-8860 or email me by clicking on the icon in the right column.

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, Galena Ohio, Hilliard Ohio, Home buying process, Home prices, Home selling process, Homes, Housing stats, Lewis Center Ohio, Powell Ohio, Sellers, Worthington Ohio

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Should you buy or sell a home now?

Posted on 11/03/2010 | Leave a comment
2001-2010 Avg Prices homes sold for Jan-Oct in central Ohio
Click to enlarge, then click again to enlarge more

Last year buyers were hesitant to buy a home – even though interest rates were low – because they wanted to wait till “prices hit the bottom“. Real estate agents tried to explain that the only way a buyer could know when the market was at the bottom was when prices started to increase.

WELL FOLKS!
Have a look at this chart. It shows a 10-year pricing history for school districts in Delaware County with a couple in Franklin County. While prices haven’t increased to earlier years yet, most are seeing increases. Even so, with interest rates now about 1-percentage point below last year, the savings in interest would likely make up for the price increases. SO IT’S STILL A GOOD TIME TO BUY!

Sellers, the market may or may not be favorable for you, depending on when you purchased or the amount of equity you have in the home. If you’re in doubt about the price your home might sell for, contact your favorite Realtor® to discuss. Don’t have a favorite? Give me a call.

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, Delaware County, Delaware Ohio, Dublin Ohio, Franklin County, Galena Ohio, Hilliard Ohio, Home prices, Home selling process, Homes, Homes for sale, Housing stats, Lewis Center Ohio, Powell Ohio, Sellers, Worthington Ohio

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Who sells the most homes?

Posted on 10/20/2010 | Leave a comment

Are you thinking of buying or selling a home and are uncertain as to which agent to use? Perhaps, your home is on the market but you’re not quite satisfied with the marketing your home is receiving.

SEE WHO IS SELLING HOMES IN YOUR AREA

I just updated the “BROKER SHARE” page to show the Top 5 Real Estate Brokers from Jan 2010 thru Sep 2010 for a number of school districts in northern Franklin County and southern Delaware County. Check out your area to see who is selling the most homes – whether it is a home listing for sellers or helping buyers find their new home.

Naturally, I suggest using #1 Real Living HER … and dare I say … I’m available. ;-)

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

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