Central Ohio Real Estate Market News

Entries categorized as ‘Homes for sale’

Real Estate Design Trends

November 21, 2008 · 2 Comments

Katherine Slant, author of The Brand-New House Book, issued some design trends that coincidentally fit with some the homes I currently have listed.

She said that homes with both a master and a second bedroom on the first floor are popular because they appeal to young couples (2nd BR serves as a nursery); middle-aged couples may put an elderly parent in the 2nd bedroom; and older couples like the design if their sleep patterns differ, making sharing a bedroom more difficult. See my Worthington listing that matches this description, plus it has 2 more large bedrooms upstairs with dormers and skylights.

Another design trend on her list involves offices. She said the newest variation of the home office is a completely separate office space, connected to the home by a hallway or a breezeway. See my Galena listing that has this type of private office with an exterior entrance in addition to the connection to the home.

Per Slant, kitchens are getting smaller, but they’re connected to larger dining areas, often with a center island where family members can sit while they have an informal meal. My Worthington listing (see above) has this arrangement, as does my listing in Stratford Woods.

Oversized family rooms with high ceilings are giving way to smaller, cozier rooms with lower ceilings. Again my Worthington listing matches this as does my listing in Brookfield Village in Hilliard.

Slant says that home theaters have lost much appeal because people don’t want to watch TV in a separate area. TV viewing is more informal with people doing other things while the TV is on. My listing in Stratford Woods has this floor plan as well as a finished basement for “real TV watching”.

So if you’re interested in buying a TRENDY home, I’ve got you covered. Just pick the trend you want, and I can help you buy it. Of course, you knew I’d say that didn’t you!

Copyright © 2008. 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 · Franklin County · Galena Ohio · Hilliard Ohio · Homes · Homes for sale · Worthington Ohio
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FSBO’s on REALTOR.com … in your dreams!

November 18, 2008 · No Comments

The real estate industry blogs were all abuzz this week reacting to a press release from ForSaleByOwner.com. The press release was later challenged as false and misleading and a retraction has been requested.

In the press release, FSBO.com said they were going to be adding their listings to the powerhouse search site REALTOR.com which is the search site exclusive to REALTORS® … the members of the National Association of Realtors®.

Needless to say, REALTORS® were very upset because we must pay huge fees to belong to the NAR, plus hundreds to thousands of dollars to upgrade our listings on REALTOR.com. The thought that a FSBO seller could have their listings there was just inconceivable. It was the principle … the FSBO seller has already indicated that they don’t want to pay for a REALTOR’s® services … but they want to derive a benefit from our national listing service … without paying for it.

It would be the same as someone being able to join the American Bar Association without having gone to law school, but buying the do-it-yourself Will papers at Staples or Office Max to avoid paying legal fees.

Fortunately, NAR and REALTOR.com have challenged FSBO.com and issued these clarifications:

  • FSBO.com does not in any way enable home sellers to advertise their home on REALTOR.com without broker representation. Every property on REALTOR.com must be listed by a licensed real estate broker.
  • REALTOR.com has not authorized FSBO.com to resell REALTOR.com’s Showcase Listings Enhancement package.
  • There is no relationship between FSBO.com and REALTOR.com.
  • There are no unrepresented homes on REALTOR.com - every property on REALTOR.com must be listed by a licensed real estate broker, and unrepresented properties would not qualify to be submitted to a Realtor® owned and operated MLS.

REALTOR.com has asked FSBO.com to issue a retraction. FSBO.com also did not request or receive permission to use REALTOR.com name in their press release. Tsk … Tsk!

Maybe FSBO.com should be more careful in making their unsubstantiated claims! Ya’ think!

Copyright © 2008. 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: Advertising · FSBO · Homes · Homes for sale · Internet · Realtors® · Realtor® selection · Sellers
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Who holds the keys to your castle?

November 15, 2008 · 4 Comments

This is for those sellers who have moved to their new location - in another city or state - and left behind a vacant home that is for sale. Of course, the home will have some type of lockbox on the front door so real estate agents can show it.

What sellers may not consider are the key(s) they’ve given to others, perhaps a trusted neighbor or friend. When deciding who to give a key to, please consider this story of what happened to one of my sellers a few years ago.

My client was to leave on Saturday, over Memorial Day weekend, to drive to his new state. He asked me to stop by on Friday to give my stamp of approval that his home was cleaned, ready for the closing that was to occur on Tuesday after the holiday. I gave it my blessing and he was so proud of the great job he had done. We were all set to close … or so we thought.

The buyers, who were moving in from another city, had scheduled to do their walk-thru at 9:00am Tuesday morning, then they would go to the title company to close.

Around 9:15, I received a call from the buyer’s agent, screaming at me about what a mess the hometeens was. It took several minutes for me to get a word in, but I managed to tell her I would come right over. Here’s what I saw:

  • Plastic cups in EVERY room. Some were still filled with Orange Crush soda. Some had been used as ash trays, using the soda to extinguish the cigarettes. (thank goodness they didn’t set fire to the home!) Some cups were tipped over, spilling the orange soda on the white carpet. Several rooms had large orange spots on the carpet, including the stairs.
  • The whirlpool tub had soap scum lining the sides.
  • A window screen had been removed from a bedroom window and was laying, bent, on the floor.
  • The kitchen counters had multiple microwave entree trays, with crumbs all around.

I was shocked because I hadn’t a clue as to what had happened between Friday to Tuesday. My client was a very nice, soon-to-be-retired gentleman, and definitely not the type to purposely do something like this. I tried to call him, but was unable to reach his cell phone.

Fortunately, a neighbor saw the flurry of activity at the home, and came to tell me that he had seen the neighbor’s teen daughter going in and out of the home over the holiday. He also saw some boys sneaking in as well. AHAH!!!! It seems my client had told that neighbor what the garage door code was so she could put his trash out on Tuesday. The post-it note with the code, was stuck on their fridge. The daughter saw an opportunity to have a holiday party!

I called the police to report the break-in and vandalism so my client could make a claim on his homeowner’s insurance. He was able to get reimbursement for the new carpet that was required when the carpet cleaners couldn’t remove the orange stains. The police took the girl, and later her friends, to juvy and they were charged with the crimes. I heard they had to spend some time in juvy-jail.

So, sellers think about this story when you decide you can trust your neighbor to “watch” your home. You may be able to trust the parents … but perhaps not their kids … especially when hormones are involved.

Oh, yes … we DID close later that afternnon … just had to hold back some funds in escrow for the new carpet.

Read these related posts:

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Categories: Home selling process · Homes · Homes for sale · Realtors® · Safety · Sellers · Sellers

Selling your home over the Holidays

November 11, 2008 · 4 Comments

Can you sell your home over the holidays and STILL handle showings PLUS enjoy the festive events with the family? Well, yes, but a little pre-planning may help you get through it.

First of all, communicate closely with your real estate agent to let him/her know what your schedule will be, such as when you have parties or dinners planned. The agent can adjust showing instructions to accommodate that schedule. However, this might be the year to not fill the calendar too full, so you don’t miss too many opportunities to have the home shown.

christmasDon’t bring out ALL the decorations. Keep them to a minimum … the KISS system. You can still give the home a seasonal look, without adding to the clutter. If you typically put up a large tree, you might want to pass on that this year, since often the tree requires moving furniture closer together and may block a window view. Perhaps, you can instead buy a small (3-4 ft) tree to accent the area. You won’t want your rooms to seem cramped and small.

Another reason to keep your decorations at minimum is that you don’t want the buyer to get the impression that you’re ENTRENCHED until the end of the year. It’s mid-November now, so a buyer may want to move in BEFORE Christmas so they can spend it in their new home. Having a tree with some packages underneath, sends a silent signal that YOU plan to be in the home on Christmas morning.

Do buyers actually buy homes over the holidays? ABSOLUTELY, YES! The Friday-Saturday after Thanksgiving can be busy showing days. People planning to relocate from another area might be in town to visit family, and want to select a home during those days. Local people may have those days off work, so they can fit the showings into their schedule during their “vacation” days. The week between Christmas and New Year’s is often busy with showings. Many agents have stories about putting homes in-contract on Christmas Eve. One year, I spent the better part of New Year’s Eve presenting a contract to my sellers, writing up a counter offer, and getting the counter back to the buyer’s agent. We put it into contract by New Year’s Day afternoon.

Remember, buyers shopping over the holidays

ARE SERIOUS BUYERS!

Here’s another reason the buyer may want to actually close on the home before the end of the year. They may want the tax deduction for 2008, rather than risk changes to the tax laws with the new political regime, which is an unknown at this point.

The holidays can be stressful under normal situations. If you keep it simple, plan ahead, be flexible, you’ll get through it … and you just might get your home sold! Now, won’t that be a great present!

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Categories: Buyers · Home selling process · Homes · Homes for sale · Sellers
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Spacious home for sale in Brookfield Village, Hilliard

November 2, 2008 · No Comments

This new listing has a great location in the popular Brookfield Village … convenient to downtown Hilliard, shopping and major access roads. Being a larger home (2368 sq ft), you’ll find plenty of room for entertaining guests or family activities, both in formal or casual areas.

The traditional floor plan has a formal living room with a bay window and nearby brick log-burning fireplace with raised hearth. Nearby is a formal dining room with a view of a large tree. The kitchen has plenty of cabinetry, including a pantry, making meal prep easy. All the kitchen appliances stay. You’ll love the large casual dining area with a bay window, and easy access to the backyard. A large 3-panel window brightens the Family Room, with plenty of space for a large TV and sectional sofa for watching football games.

Upstairs are 4 roomy bedrooms, with an extra spacious, private owner’s suite which has a walk-in closet, bath area, 2-sink vanity, glass shower stall, jetted tub and enclosed commode area. Also, on the 2nd floor is the laundry room for added convenience.

The finished lower level features three distinct areas, a half bath, and a small room with a sink … ideal as a wet bar. The backyard features a paver patio and is totally fenced for pets or kids. At only $194,900 it’s a fantastic buy for this terrific neighborhood! Google Map directions.

Copyright © 2008. 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 · Franklin County · Hilliard Ohio · Homes · Homes for sale
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The realities of today’s real estate market in Central Ohio

October 14, 2008 · No Comments

It’s the middle of October and we need to consider the cold, hard realities of selling or buying homes. There’s reason for buyers to be optimistic. Sellers, on the other hand, need to be realistic … in order to be optimistic. It’s time for both to take off the rose-colored glasses and get moving in a smart direction. I’m not going to review the issues in the economy and financial markets … you get that from the media on a daily basis. However, because of those events, here’s what you need to do RIGHT NOW!

Sellers

  • It’s October, and buyers will want to be in their new home before the holidays. That means your home must go into contract in the next couple weeks. If you miss that window, your home is apt to sit until next March.
  • If your home sits till March, you’ll sell it for a lower price - almost guaranteed. You might as well lower it now to get it SOLD!
  • If your home has been on the market for 3 months without an offer, your price is too high. Buyers are telling you that “something” is wrong with the home and they’re not willing to pay your price for it. You’ve got to lower your price to the point that a buyer is willing to overlook whatever the short-coming is. Remember, it’s how your home compares to other homes they’ve viewed and whether it offers a value versus those homes.
  • If you can fix the “short-coming” … fix it. If you can’t … lower the price!
  • Buyers don’t care what YOU want to sell it for.
  • Even if you have to lower your price, remember the home you want to buy will also be lower in price so you’ll still benefit.

Buyers

  • Visit your lender and get Pre-Approved first before you start viewing homes. The rules for issuing mortgages are totally different now than even a few months ago. You need to know how much mortgage you’ll be approved for. With that amount, plus your down payment amount, you’ll then know what price range of homes you can view.
  • Don’t view homes you can”t afford in the hope that you’ll be able to buy the home for the amount you CAN afford. That just wastes everybody’s time, including yours and it is so disappointing when you don’t get the home.
  • Buy a home to live in and enjoy for several years. You don’t buy homes the way you buy stock. Yes, you hope to have it increase in value, but your primary focus should be finding a home that meets your needs for location, schools, comfort and enjoyment.
  • Home prices are generally what they were in 2003-2004. Interest rates are still at historical lows. Inventories are down, but there are still lots of homes to select. If you have a down payment, it’s a good time to buy.
  • If you have a home to sell before you can buy, get that home in contract first. Don’t expect the seller to accept an offer from you that requires the seller to wait until your current home finds a buyer.

The GOOD homes that are priced right ARE selling to SAVVY buyers who are taking advantage of this good time to buy. Both parties just need to be realistic about their wants and needs. We had a slow 2-3 weeks with the hurricane and the financial market uncertainties, but showings have begun again so now it’s critical to take advantage of the timing.

Sellers … lower your price!

Buyers … buy now!

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Categories: Buyers · Central Ohio · Home buying process · Home prices · Home selling process · Homes · Homes for sale · Sellers
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Lovely 3BR home for sale in Stratford Woods

October 9, 2008 · No Comments

This new listing is the home you’ve been looking for … lots of space … big fenced backyard … in a popular neighborhood … at an affordable price.

It has many of the features that buyers want such as a vaulted Great Room, loft for a home office, deck for entertaining, a HUGE kitchen with LOTS of cabinets, and a nicely finished lower level. It’s in stellar condition so you can just move right in. Best of all, it’s a way to buy into Stratford Woods below $200,000 with a price of $194,900 for 1904 sq ft in this 3BR home.

Stratford Woods is a terrific location with easy access to Polaris, Powell, Dublin, Worthington or Westerville. For peace of mind, the sellers are providing the buyers with a home and gas warranty.

Other features: Ceiling fans in all upstairs rooms plus the Great Room; easy care laminate flooring; hot/cold water in the garage; kitchen appliances stay; wood playgym can stay or go.

Click to see location map.

Copyright © 2008. 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 · Delaware County · Delaware Ohio · Homes · Homes for sale
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Sellers … think buyers will think YOUR home is special?

September 27, 2008 · 2 Comments

With all the economical and financial news this past week, plus, some discussions of the have’s and have not’s, I was curious to see how higher priced homes were faring in sales this year. We know that the lower priced homes are facing more challenges to attracting buyers, but does the same hold true for the upper scale homes where “lack of money” may be less of an issue for potential buyers?

Normally the charts I prepare are for portions of Delaware County and Franklin County. I decided to use the ENTIRE MLS system for this review since some of the more expensive property may be located in outlying areas where ample land can ensure privacy. I also included condos … not just single-family homes … because there are some luxury condos being sold both in Powell as well as downtown Columbus high-rises. I wanted to know how buyers were spending their money regardless whether it was in a regular home or an easy-care condo or patio home.

This graph shows the NUMBER of homes SOLD by price range between Jan to today’s date.

Obviously, there are a lot fewer buyers buying this year than last, and remember this is for ALL the counties surrounding Franklin County where Columbus is located. Strangely the average price within each price range hardly changed from one year to the next. In other words, the average price in the $200-299K range was $241K for both years … there were just 62% fewer buyers.

Now back to the original premise of my purpose in doing this review. What’s happening in the luxury market?  I think the graph shows that upscale people are having the same thoughts as the “common folk”.

If your home is for sale, this should be a wake-up call to make sure your home is in absolute top-notch condition and priced right because your competition is fierce for the much smaller pool of buyers. I could also say that your choice of a Realtor® is very important as well to make sure your home receives the most exposure with the best photos … but then I hope you already know that! :-)

 

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Categories: Buyers · Central Ohio · Columbus Ohio · Delaware County · Franklin County · Home prices · Homes · Homes for sale · Housing stats · Powell Ohio · Sellers
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Houses for sale … that are dog-friendly.

September 21, 2008 · 6 Comments

THIS POST IS WRITTEN BY GUEST WRITER … THE MURPH.

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There are DOG HOUSES, then there are HOUSES FOR DOGS. The first kind are dank, cold, uncomfortable fixtures in the backyard. Heaven forbid, I’m not talking about THAT kind of “dog house”. The kind of dog house I’m writing about are the kind that we share with our humans. The warm kind with lots of soft furniture for us to rest.

In February, Mom wrote about homes that might not sell because they are NOT dog friendly. Well, my fellow 4-legged friends need to know about homes that would be great fun for US to live in. So here’s my review of the homes Mom still has for sale that are dog-friendly.

This first home has a yard that a little guy like me or a medium-sized dog would like. (that’s me in the photo) It has a sun room where we would have easy access to the back yard from the kitchen. The sun room would give us a chance to wipe our paws just in case we get them dirty.

If we get too dirty or when it’s time for baths, there’s a big laundry room with a deep sink and counters for drying time.

There’s a chair-height breakfast bar that is the perfect height for begging for human food. After coming in from the cold and after our tummies are full, we can plop down in front of the brick fireplace to warm our toes and chase rabbits in our funny dreams.

If your human likes to take you for long walks or runs, the Antrim Park is a short car-ride down Olentangy River Rd. At this park, you can walk, run or maybe take a swim if you’re so inclined. I’m not too big on that - my legs are too short. Read more of Mom’s stuff on this home.

Calling all goldens, labs, poodles, boxers, and almost any other kid-owning dog … this is YOUR home. There’s a big deck for lounging in the sun. The fenced yard is perfect for playing fetch or Frisbees. No need to worry about the kids running away while you’re babysitting them.

There’s LOTS of dogs in this neighborhood, and they take their humans for walks in the evening, so you’ll have ample opportunity to meet, greet, and sniff.

The upstairs of the home has 4 bedrooms so it will be an easy jaunt during the night to move from one bed to another. That way all your humans will feel privileged to be graced with your presence. Read more of Mom’s stuff on this home.

Big dogs and hunting hounds will be thoroughly entertained in this yard. It has something for everybody … like a Disney World for Dogs! With 3 acres of land, the big guys can run in the flat front yard or get their cardio exercise running up and down the ravines in the back. The hounds can follow their noses to track rabbits and squirrels and what ever else needs investigation.

There’s even a small stream (which sometimes has water) for the water-lovers. It’s the right size of water for guys like me with the short legs - no big waves!

There are 3 decks and 3 patios on all sides of the home, so lounging in the sunshine won’t be a problem. For the senior citizen who may not be as nimble, there are walking trails and steps from the home down to the ravine, making it easier for an older dog to still have fun and recall their sprightly youth.

During the cold weather, there is a wonderful wood stove in the 2-story great room that will toast your tummy in fine order. If your humans allow, there are soft built-in couches close to the stove to enhance your ultimate comfort. Also, there are 5 doors to the outside and numerous dog-height windows, so no matter where you are in the home, you can put your nose prints on some glass. Read more of Mom’s stuff on this home.

Now, go tell your humans you want to check out some homes today … just as soon as you get up from your nap.

Copyright © 2008. 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 · Dog Tails · Franklin County · Galena Ohio · Homes · Homes for sale · Worthington Ohio
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Home buyers & sellers … friend or foe?

September 13, 2008 · No Comments

Selling or buying a home can be a wonderful experience … or a troublesome one. It all depends on the parties involved. Naturally, having it be a wonderful, joyous, exciting time is the preferred outcome and that’s what happens in the majority of sales.

HOW TO BECOME A FRIEND

First of all both parties should rejoice in the fact that they share some things in common - they both like the house and they both want to move to a different home than where they are living now. Having a buyer choose a seller’s home is a complement to the seller. Likewise, having a seller trust the buyer enough to allow them to walk through the home and investigate its innermost corners during an inspection, is a complement to the buyer.

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Follow the GOLDEN RULE!
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Both parties should recognize that the Contract for the purchase of a home MUST be a win-win for both parties or it won’t become a Contract. The negotiation process to settle on the details of the Contract will attempt to find a common ground between the two parties. To some people, the closing/possession date is more important than the purchase price. To others the price may be more critical and they are more flexible on other terms. It’s a give & take to find which terms are acceptable to both parties. Keeping an open mind and looking for workable solutions during negotiations will result in both parties being satisfied.

What it really boils down to is having RESPECT for the other party. People that remember that the others are people as well - with feelings, emotions, and maybe some financial concerns - will usually do much, much better in the negotiation process. Often, when both parties work together and respect each other, good things happen. A seller may decide to leave something for the buyer that the buyer otherwise would have to purchase. The buyer may be willing to overlook some moving dust if events happen to cause the seller to run out of time during the moving process. I’ve even had sellers plan a neighborhood BBQ to introduce the buyers to their new neighbors. That’s wonderful!

HOW TO BECOME A FOE

  • Start out with an attitude of it’s MY way or the highway!
  • Make DEMANDS rather than suggest SOLUTIONS.
  • Treat the other side as if they were an inanimate object - not a real person with feelings.
  • If you’re the buyer and the seller gave you a good price for the home, add to the seller’s financial pain by submitting a 2-page list of remedies you demand be fixed.
  • If you’re the seller and the buyer paid full or nearly full list price, refuse to do ANY of the requested repairs even though they may be legitimate.
  • Threaten to pull out of the Contract every chance you get. That keeps everybody on their toes, keeps stress levels high and makes you feel powerful.

WHICH WILL YOU CHOOSE?

If you’re a seller and have friends in the neighborhood, do you really want the buyer telling your friends what an arse you were? Likewise, if you’re a buyer, do you want the seller to alert your new neighbors such they decide it’s best to not get acquainted with you or welcome you? Obviously neither is the desired situation. So go into your home buying or selling process with a positive attitude and you’ll eventually be so glad you did, when everybody has a great time at the closing table.

Copyright © 2008. 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 · Home buying process · Home selling process · Homes · Homes for sale · Sellers

Call your mortgage broker … NOW!

September 9, 2008 · No Comments

With the recent government takeover of Fannie and Freddie, mortgage interest rates have declined. If you have been considering buying a home, the time to act is now.

Don’t let this opportunity pass you buy!

  • There’s plenty of inventory of homes for sale, so you’ll have a good selection.
  • Sellers have reduced their prices to below market prices in many cases.
  • Low home prices combined with low interest rates is the best of both worlds for a buyer.

If you don’t already have a preferred mortgage broker, here are two that I highly recommend:

  • Tony Butler, Equitable Mortgage Corporation. Call him at 614-764-5071
  • June Zepp, Real Living Mortgage. Call her at 614-825-8806.

Get off the fence and act now or you’ll be sorry later.

Copyright © 2008. 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 · Home buying process · Home prices · Homes · Homes for sale · Lenders
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Custom Worthington home is now for sale

August 13, 2008 · No Comments

As promised, my readers are the first to know that this wonderful Worthington home is now available for sale. Make plans to view it because it may not last long.

Built in 1991 by an Amish builder for quality,  you’ll see many examples of this woodworking skill as you view the photos. Enter the 2-story foyer to be greeted with the rich hardwood floors, open staircase, 6-panel doors and crown molding.

To the right is the formal living room with bayed window. To the left is a very large dining room with sconces and spot lights in addition to the chandelier. To the back is a wonderfully warm and friendly kitchen and hearth room. The hearth room features built-in bookcases and bench seating. The log-burning fireplace offers a gas starter for convenience.

The kitchen area is wonderful with many cabinets (and roll-out shelves) plus 2 appliance garages. Off the kitchen is a laundry with cabinets and broom closet. The washer and dryer stay as well. On the short hall to the garage is a coat closet and a large pantry. The exit door leads to a comfortable screened porch with lighted ceiling fan.

Back a long hall from the foyer is the owner’s suite, guest bath and a bedroom that could easily serve as a den. The owner’s suite has a walk-in closet with wood shelving. The bath area has a 2-sink vanity plus a sit-down vanity, a linen closet, shower stall and enclosed commode room.

Upstairs are two large bedrooms with wood seats below the dormer windows. Each room has a skylight. One of the bedrooms has extensive built-in cabinets and a walk-in closet. Most interesting is that each bedroom has a door to large walk-in attic storage areas. The one area is especially large and would seem to be suitable for finishing into an upstairs rec room for a pool table.

The poured wall basement is quite large if the new owner’s would like to finish it. This home also has a security system, irrigation system, central vac and electronic air cleaner.

The Franklin county Auditor records the size at 3501 sq ft, so it’s quite a large home. It’s located on a private cul-de-sac that is convenient to Rt 315 for easy access to OSU, Battelle, Riverside Hospital, or downtown Columbus. It’s been priced below the Worthington market at $329,900, so you better act fast.

Click here for a Google map of the location.

Copyright © 2008. 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 · Franklin County · Homes · Homes for sale · Worthington Ohio

Is that housing statistic really correct?

July 31, 2008 · 2 Comments

I received a call from a student doing a research project on “homes for sale around golf courses” in Ohio. She was using Real Living HER’s site to search by subdivision and she had some questions, which I tried to answer.

She had some questions regarding Wedgewood (Powell) and Tartan Fields (Dublin). As I was telling her how to search by subdivision on Real Living’s site, I also explained that she would have to sort through the data because there were other subdivisions starting with the Wedgewood name that weren’t located around the Wedgewood golf course, such as Wedgewood Park and Wedgewood Place. There is Tartan Fields which IS  around the golf course but Tartan West isn’t. Then in New Albany, the main country club has homes in the MLS system coded as New Albany CC or simply NACC. She probably doesn’t know this and thus, will miss all those homes in her statistics, because the computer will only search for whatever name she puts in the search box.

I’m not sure where she lives, or if she even lives in Ohio, but without knowing all the nuances of the area, her data could be pretty flawed. No doubt she’ll face those same issues with other golf course homes when she does this research for the whole state.

Later after our conversation ended, I couldn’t help but think about what she’ll do with this report. I’m sure she’ll think it’s a pretty accurate report and will probably present it as such. I hope she gets an “A”.

However, what she will be doing with her “findings” is similar to what news reporters or real estate ”experts” do with their research. To quote an NAR ad, “they don’t know what they don’t know“. They gather the data, extrapolate from it, make their analysis, then present the material as FACT.

Something similar is occurring with some dot.com search engines that are trying to compete for $$$$ by capitalizing on the real estate market. The main one is, of course, Realtor.com - the granddaddy formed by the NAR, where buyers can search for homes. Two new upstarts are attempting to take over the prime spot. They are Trulia and Zillow. All three are offering ”estimates” of a home’s value. Zillow was the first to come out with their “Zestimate” which was/is so flawed they were sued. Trulia and Realtor.com have followed suit with their own estimates.

They use computers, algorithms, and other geeky stuff, to determine “value”. Unfortunately, just as with the student’s attempt to gather data, computers don’t know the nuances of the local area. For instance, for my own home, Zillow used a recent sale of a home 6 miles away in another town, in another school district, that has 4BR’s up (mine is a 3BR, 1st floor MBR). No real estate agent would EVER use such a home as a comp when advising sellers on how to price their home.

Real estate agents have a saying that ALL REAL ESTATE IS LOCAL. That’s why we keep advising people to really question what the “experts” are quoting as fact, because we’re in the best position to know how WRONG the data really can be.

Copyright © 2008. 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 · Delaware County · Dublin Ohio · Franklin County · Golf course communities · Homes · Homes for sale · Internet · Media · Powell Ohio · Realtors® · Wedgewood
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Some homes seem “un-comp-able”

July 27, 2008 · 2 Comments

I doubt that “un-comp-able” is a real word … in fact, I’m almost sure that it’s not. Perhaps, the only people that would understand its meaning are other real estate agents. We’ve all had homes that are so unique that they just don’t compare to any others that are on the market or have been sold recently.

Of course, we all know that the buyer is the REAL PERSON to decide what a home is worth, but in the meantime, the seller must decide on the price at which the home is listed, and they make that decision based on the comps we provide them. When there are no similar homes to compare to, it makes it much tougher for the seller to select a list price.

I’m currently working with some clients who are in the process of preparing their home for sale. They’re doing all the right things, so when we actually put the home on the market mid-August, I “expect” the home to sell rather quickly … IF we put it on the market at a reasonable price. So what should that price be?

The home is an all-brick home in the Worthington school district. It was custom built in 1991 which is “new” by Worthington standards. It’s a reasonably large 4BR home - over 2500 SF - and it has an owner’s suite on the first floor. It’s also located on a quiet, wooded, cul-de-sac street that is quite convenient to Rt 315 for a commute to OSU, Riverside Hospital, Battelle or downtown Columbus.

When I start looking at comps, I first do a broad search. For this home, I started with a search for active listings (our competition) that are over 2400 SF with 4 BR’s, in the Worthington school district. The search came up with 46 active listings priced from the high $200K’s to the $900’s. OK, that won’t work!

Old Worthington Inn

Since Worthington is an “older” suburb, I decided to add “year built” into the search’s criteria. Searching for homes built since 1990, reduced the active listings to only 9 (told you Worthington was “older”). However, because of the mindset of buyers wanting to locate around Worthington, I’m not certain that the age of the home is a major consideration.

Many of the Worthington homes have REAL wood doors, woodwork, floors, custom built-ins and other nifty features that aren’t included in newer built homes except at a high price. This particular home has all those features, plus, a great hearth room off the kitchen with brick fireplace, wood bookshelves, bench seating and hardwood floors. I can just imagine sitting in this room on a cold winter day sipping hot chocolate by the fire. There’s also a screened porch for summer enjoyment overlooking the manicured backyard.

So what price range will I be recommending for the seller? I’m still working on that, but I’m narrowing it down … I think! :-) Stay tuned, as you’ll be the first to know.

Copyright © 2008. 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 · Franklin County · Home prices · Home selling process · Homes · Homes for sale · Sellers · Worthington Ohio
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Vegetable gardens are the new “in” for luxury homes

July 26, 2008 · No Comments

Earlier this month I wrote a post about vegetable gardens in the suburbs. I included a photo of a elaborate garden enclosure that exists on my home for sale near Hoover Reservoir. Several years ago, my clients had a landscape architect design a special enclosure for their organic garden to primarily prevent deer from enjoying the garden produce.

Luxury organic vegetable garden

The home is nestled on a 3 acre lot with woods, ravine, and an abundance of professional landscaping that provides them with a beautiful view of nature throughout the year. The landscape architect did an excellent job of fitting the design of the enclosure to blend with the all the other scenery around the home.

In yesterday’s Wall Street Journal, an article featured a garden that looks very similar to the design of my client’s garden.

The Vegetable Patch Goes Luxe
Homeowners Hire Experts to Install Lavish Gardens

The garden featured in the WSJ photo is square, where my client’s enclosure is a hexagon to match the design of the home which consists of a series of hexagonal “wings” for privacy. That’s the sign of a good landscape architect. As you’ll read in the WSJ article, these garden enclosures aren’t inexpensive so they may only be found on upscale homes. My clients told me that their enclosure cost $10,000, so that’s comparable to some of the gardens mentioned in the WSJ article, although some were as high as $70,000.

Some people are paying tens of thousands of dollars to have landscape architects design and install elaborate vegetable gardens. (WSJ)

Because of the rising prices of food, along with reports of contaminated food, some people are preferring to grow their own food. The article also notes that some gourmet chefs like these gardens because they are able to grow their own unique produce that they often use in their special recipes. The WSJ quotes a real estate agent in Illinois, who said that these luxury gardens are a selling point in upscale homes.

(the Illinois agent) recently showed a $1.2 million house with a pool, but it was the vegetable garden that particularly caught the eyes of one couple. “It’s an asset to the house”. The family moved in two weeks ago. (WSJ)

I don’t mean to brag … well, yes I do … but I can’t help but wonder if my post on my client’s garden triggered the WSJ writer to do her column. The WSJ has linked to other blog posts of mine, as has Newsweek. The news media has mentioned that they monitor bloggers to see what subjects the bloggers are writing about. It’s their way of keeping in touch with the “real” world. So, if you buy my client’s home, you can rest assured that you’re on the cutting edge of the “in crowd”!

Copyright © 2008. 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 · Delaware County · Galena Ohio · Homes · Homes for sale · Media · Newspaper
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