Central Ohio Real Estate Market News

Entries categorized as ‘Franklin County’

Top 5 Real Estate Brokers by school district

12/22/2009 · Leave a Comment

Are you planning to sell your home in 2010? Check out my recently updated page for Top 5 Real Estate Brokers by school district.

Real Living HER sold sign, Columbus OhioReal Living HER continues to be the #1 real estate broker with their agents selling far more homes than others. In many of the districts, their market share has continued to increase. The 2009 market has been tougher to get homes sold, so no doubt the extra programs that Real Living offers to both buyers and sellers has helped get homes sold.

I know you’re busy with preparations for the upcoming holidays, but don’t forget the two Tax Credits that are currently available for both new buyers and current homeowners who want to sell & buy.

Give me a call and we’ll go to work on getting you a new place to live in 2010.

Categories: 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 · Realtors® · Realtor® selection · Schools · Sellers · Worthington Ohio
Tagged: , ,

Help Pet Organizations Help Pets In Need

12/11/2009 · Leave a Comment

Not every dog leads the comfortable life that The Murph does. They don’t have sweaters or coats to keep them warm when they go outside. They may not have a warm bed to sleep in, but may have to sleep on the cold ground. They may have to go to bed with an empty belly and frozen water bowl.

YOU CAN HELP!

With the tough economy, people are being forced to turn their pets into the shelters because they can no longer afford to feed or care for their pet. A local pet day care (Camp Bow Wow) is having a donation day tomorrow to assist the Pet Pantry and Columbus Dog Connection to help needy people with pet food and supplies so those people don’t have to surrender their pets for financial reasons.

Take your donations to Camp Bow Wow, 5100 Nike Dr, Hilliard on Saturday, Dec 12 between 10am-2pm. See their web site at www.campbowwow.com for the list of requested items.

The Columbus Dog Connection web site also has a donation page that lists the needs for other shelters in other counties. If you help with Habitat for Humanity, perhaps you can also help with Habitat for Dogmanity by helping to build dog houses for pets without outside shelter, or to give the materials to build such houses.

You can also check these web sites which have “wish list” requests for their shelter animals: Capital Area Humane SocietyFranklin County Animal ShelterDelaware County Humane Society

If you’re like me, you may have leashes, collars, bowls, beds, sweaters, coats, that were used for pets that are now sadly gone. I know I have such items from my three Dobies that are way too big for The Murph. I think it’s time to give them to other pets.

Categories: Central Ohio · Commentary · Delaware County · Dog Tails · Franklin County
Tagged:

Are you ready to buy a home in January?

12/10/2009 · 2 Comments

In October, I wrote about the showings by buyers for various zip codes by price range for both single family homes and condos. Here in this post, I’ve updated that chart with the number of showings between Nov 1 thru Dec 10 (today). Similar results but far fewer showings. We’re still seeing little activity in the upper price ranges.

Buyer showings on homes for sale in central Ohio

Click to enlarge graph

The lack of activity for the move-up price ranges is why the National Association of Realtors® pushed Congress to do something to help this market. Thus, the Tax Credit stimulus added the $6,500 credit for CURRENT HOMEOWNERSRead Details.

Many of the upper-priced homes have had their prices reduced to almost ridiculous levels. If you’re a buyer, you may find that these luxury homes cost less per sq ft than lower priced cookie-cutter homes.

I know the holidays are upon us, but if you’re planning to sell and buy, you need to get ready as January is only 3 weeks away.

Copyright © 2009. 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.

Categories: Buyers · Central Ohio · Delaware County · Delaware Ohio · Dublin Ohio · Franklin County · Galena Ohio · Home prices · Homes · Homes for sale · Housing stats · Lewis Center Ohio · Powell Ohio · Sellers · Worthington Ohio
Tagged: ,

Average Sales by School District & Subdivision

12/07/2009 · Leave a Comment

I’ve updated the YTD November housing stats if you’re interested in seeing how the real estate market is doing.

Average housing prices by SCHOOL DISTRICT

Average housing prices by SUBURB BY SUBDIVISION

Call me if you have any questions.

Categories: Ballantrae · Brookside Village · Central Ohio · Delaware County · Delaware Ohio · Dublin Ohio · Franklin County · Galena Ohio · Golf Village, Kinsale · Golf course communities · Hilliard Ohio · Home prices · Homes · Housing stats · Lewis Center Ohio · Muirfield · Powell Ohio · Scioto Reserve · Wedgewood · Worthington Hills · Worthington Ohio
Tagged:

Chihuly glass exhibit at Hawk Galleries

11/15/2009 · 1 Comment

This afternoon my daughter, granddaughter, their husbands and myself visited the Hawk Galleries at 153 E Main St in downtown Columbus. My granddaughter is an award-winning sculptress and her husband is a graphics designer, so they were interested in seeing the Chihuly glass exhibit that is on display. There were two other designers displayed as well. What these artists have done with glass is absolutely fascinating.

The gallery encourages taking photos so I took my fair share. They lose some clarity with the Internet upload process, but I think they still look pretty good.

BTW, the brownish art piece that we’re standing in front of, had a price tag of $150,000. We couldn’t find a price tag on the colorful chandelier that the four of them are standing underneath. No doubt it’s beyond the “if you have to ask, you can’t afford it” category.

We thought the photo of the four of them would make a great Christmas card.

For the best view, click the “Full” screen icon on the lower bar.

Copyright © 2009. 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.

Categories: Central Ohio · Columbus Ohio · Franklin County
Tagged: ,

Harnessing the power of wind

11/04/2009 · Leave a Comment

Have you ever seen a wind turbine farm? They’re pretty impressive. I saw my first during a drive from Palm Springs to Los Angeles on a business trip years ago. I think the area is where the Santa wind turbineAna winds prevail, although I’m not sure. I do know that when we rounded a curve on the freeway east of LA, we saw mile after mile of probably hundreds of tall turbines. Some were turning while others were stopped. I learned later that whether they rotate or not, depends upon the demand for electricity.

When I visited Glacier Ridge Metro Park west of Tartan Fields, I noticed a tiny turbine that is used to power the park’s lights. It was so small, it almost looked like a toy airplane.

When I was young, it was common for farms to have a windmill to pump well water. The windmill at an uncle’s farm made a rhythemic sound when the blades would go round ‘n’ round. It was rather soothing, much like the clatter-clatter of the wheels of the old trains rattling on the tracks. These new wind turbines don’t seem to offer that charm but maybe we’ll get used to them.

Read more about China’s investment in a Texas wind farm.

Copyright © 2009. 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.

Categories: Central Ohio · Dublin Ohio · Franklin County · Technology
Tagged: ,

Should I vote ‘yes’ or ‘no? Taxes ‘up’ or ‘down’?

10/28/2009 · 2 Comments

Next week we have an election for local issues and/or levies. We’re all too familiar with issues being written such that a ‘NO’ vote is really a ‘YES’ vote. It can be so confusing.

Today we had a meeting with the Franklin County Auditor’s staff giving us a presentation on the new features of their web site. During one of the slides, he showed us the tax estimator page which allows residents to see the dollar change the levy or issue would have on future taxes. As we were reviewing the information on the web page, we noticed an inconsistency to what the language of the proposed levy said versus the impact on the property tax.

The Proposed Levy Says It’s A Decrease

The proposed levy is promoted as a “replacement levy” that will be a “decrease” in taxes. The old levy that expires was a 3.15 mill levy. The new replacement levy – if voters approve – will be a 3.10 mill levy. OK, that’s a decrease.

HOWEVER, levies can only collect a maximum amount of money. If property values or the number of households/businesses increases, then the millage per parcel may actually be lower than millage that was voted in. That’s what happened to this original levy. Even though voters originally voted for the 3.15 mill levy, it’s actually being collected at a rate of only 2.010197.

The Proposed Levy Will Actually Be A Increase

If voters approve the 3.10 Replacement Levy, they may actually see an INCREASE to their taxes since instead of collecting at the 2.010197 rate, taxes may be collected at 3.10 mill rate. So that will be an increase, not a decrease.

Using a Hilliard home as an example

Using a Hilliard home as an example, the Auditor shows an assessed value of $149,800. The annual tax payment for this home is $3497. Using the Auditor’s tax estimator, if the replacement levy passes, instead of paying $7.69 for the current levy, the new replacement levy would collect $11.85.

So that’s how a Replacement/Decrease levy can result in an increase to the tax you may actually pay.

While I’ve used a particular Franklin County levy as an example, the discussion can really apply to any county and any levy. The key point is that rather than just accepting what the levy ballot language is, do a little checking to see how it differs from what is currently being collected. You can be sure that the proponents of this replacement levy aren’t going to mention that households may pay more. They want to put a positive spin on the levy so voters will pass it. Plus, they are correct in that it is a decrease … you just may not see that decrease when your property tax bill arrives in the mail.

BE AN INFORMED VOTER … THEN VOTE!

Copyright © 2009. 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.

Categories: Central Ohio · Commentary · Franklin County
Tagged: , ,

Buyer Showings by Zip Code for Central Ohio

10/09/2009 · Leave a Comment

The timing to take advantage of the $8,000 1st Time Home Buyer’s Tax Credit is basically over since the closing must occur by Nov 30. Nationally and locally, real estate agents believed it helped sell lower priced homes but did little to stimulate home sales priced over $300K. While REO’s, short-sales and foreclosure inventories may have been reduced, these homes do nothing to benefit the move-up market since they aren’t owned by sellers who plan to buy a different home.

I’ve spoken with other agents who say they have noticed a decline in showings in the past week, especially over $300K. I decided to explore how showings have been the past month by using the market reports from Centralized Showing Service, which is the company most brokers use to conveniently set up our showings.

As the graph shows, there is a substantial difference in the number of showings in the lower price ranges. The chart is by zip code which means 2 or 3 school districts can be in one zip. (CSS reports don’t allow for a search by school district.) If your home is currently for sale or you’re planning to list your home, this will give you an idea as to what you might expect for the number of showings based on your price range or zip code.

Click to enlarge graph

Click to enlarge graph, then click again to read zips

If your home isn’t yet listed and you would like to see data for your specific home, give me a call or email me.

Copyright © 2009. 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.

Categories: Buyers · Central Ohio · Delaware County · Delaware Ohio · Dublin Ohio · Franklin County · Galena Ohio · Home prices · Homes · Homes for sale · Housing stats · Lewis Center Ohio · Powell Ohio · Sellers · Worthington Ohio
Tagged: ,

Confession: I was a Realtor’s Nightmare

10/08/2009 · Leave a Comment

The first home I purchased (1987), was a new build. I was so excited watching as it went from just a hole in the ground, through the framing stage to ultimate completion. I had a blank canvas on which to put my touch both inside and out. And, boy, did I take advantage of that for the eight years I lived there.

By the time I sold it in ‘95, the backyard was a jungle, and there were no white walls inside. You see, since my plans were to one day retire to Tucson, I decorated my OHIO home in the way Tucson homes were decorated. I wanted to “feel” like I was living there even though I wasn’t there yet. The colors we associate with Arizona – turquoise, pinks, oranges – are the colors of the soil (caliche), so the homes are actually camouflaged. Obviously, we don’t find those colors here, so … well … it just looks weird here.

When I was ready to sell, I selected a very nice agent that had been recommended to me. Normally, Jim is a quiet person with mild expressions. However, when we met to sign the listing papers and do the walk-thru of my home, I still chuckle at the look he had on his face when he walked into my bedroom. While he was too nice and quiet to ever say it, I’m sure he was thinking “OMG“!scan0004

scan0003I had painted the upper walls the color of the AZ ground, with a special AZ-style wallpaper and co-ordinating border. I had to flip through LOTS of wallpaper books before I found just the “perfect” one. :-)

The purpose of the wall mural was to make me feel like I was looking out on a lanai when I woke up in cold winter mornings.  

scan0002As if the bedroom wasn’t bad enough, the adjoining bath used the THIRD version of the coordinating paper. Don’t ya’ just love it!

I agreed to repaint some of the other rooms, but I told Jim that I didn’t have time to redo this room. I remember telling him that the buyers would either like it or they wouldn’t. (I was a “bad” seller) Now that I am a Realtor®, I can fully appreciate what Jim must have been thinking.

Apparently, the buyers liked the rest of the home, and I’ve no idea what their thoughts were on this room, but we went into contract in 13 days at full price. So kudos to Jim for a job well done.

My advice for today’s sellers … don’t do what I did. It’s an entirely different market than it was in ‘95, and today’s buyers want neutral because they’re too busy to undo your “custom” decorating.

Copyright © 2009. 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.

Categories: Central Ohio · Fix-ups · Franklin County · Home selling process · Homes · Homes for sale · Sellers
Tagged:

3rd Qtr Home Sales Comparison for 5 Years

10/04/2009 · Leave a Comment

We’re now through the 3rd Qtr, so it’s time to see how home sales compare versus prior years. There’s been much discussion as to whether we are or aren’t in a recession. I think the politicians have one opinion and people in the “real” world have another.

Some statisticians have looked hard for a glimmer of hope with some minor upticks to housing stats this past summer. Some of that was created by the 1st Time Buyer Tax Credit. While it helped to deplete low priced inventories, it’s being said that a lot of those sales were short-sales or bank-owned properties, which do nothing to sell UP to more expensive homes.

As you can see from the charts below, the number of homes sold so far this year is substantially below what was sold in 2005. Some experts say that a number of those people buying in 2005 should not have bought because they were doing 100% financing or they were poor credit risks. Perhaps, we should not expect to return to 2005 levels. It is good that now buyers are being expected to “have some skin in the game” with down payments.

Delaware County
  2005 2006 2007 2008 2009
# of Homes 1983 1908 1797 1598 1429
% Chg - -3.8% -5.8% -11.1% -10.6%
Avg Price $306,352 $311,652 $303,299 $294,747 $273,098
% Chg - +1.2% -2.7% -2.8% -7.3%

For the Jan-Sep period, 28% fewer homes were sold in Delaware County in 2009 vs 2005. The average price of those homes saw only an 11% decline. Franklin County was similar in that 31% fewer homes were sold in 2009 vs 2005 and the average price was just 13% lower. Considering what some states have encountered, having our prices go down such a small amount over a 5-yr period is really pretty good. The higher decline rates for the number of homes sold, is just indicative of fewer buyers being able to afford a home given the new lending guidelines.

Franklin County
  2005 2006 2007 2008 2009
# of Homes 11,549 10,726 10,015 9,157 7,932
% Chg - -7.1% -6.6% -8.6% -13.3%
Avg Price $176,884 $173,722 $167,563 $158,462 $154,027
% Chg - -1.8% -3.5% -5.4% -2.8%

SOURCE: Columbus Board of Realtors MLS system. Data is for single-family homes only. Builder’s homes are included only if they were listed in the MLS system. Condos are not included.

Copyright © 2009. 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.

Categories: Buyers · Central Ohio · Delaware County · Franklin County · Homes · Homes for sale · Housing stats
Tagged: ,