Real Estate Laundry » 2007

Archive for August, 2007

Buying a Home in Columbus - What to expect in today’s market

August 29th, 2007 categories: Columbus, Financing, Local Communities, Real Estate News

The last few months have certainly been a string of field days for the media. With the apparent collapse of the sub prime lending industry, tougher mortgage regulations, and lots of inventory on the market, Buyers must be stealing homes from Sellers in the Columbus area. In reality, this is not really the case.

If you are considering purchasing in the near future, here are a few things to consider:

Columbus Board of Realtors’ statistics suggest our year to date average sales price is down about 1% from last year. Though last year was the first year in recent history Columbus experienced a decline in average price(-1.8% for 2006), this clearly is not a catastrophic decrease.
Homes are selling. As the chart below indicates, listings sold in July of 2007 were up 5% over the previous year.
Rates are still great. When I started in the business 11 years ago, rates were around 8.5% and Realtors and Buyers alike were all thrilled. Depending on your credit history, employment and downpayment rate you may qualify for 30 year fixed rates in the low 6% range today.
The fact that we have lots of inventory in the Columbus Housing Market today is good for you as Buyer! There many homes to choose from and compare.

My advice to you would be to take what you read in the paper and see on the news with a grain of salt. There are opportunities in the housing market right now and lots of great homes at fair prices.

If you truly want to purchase a Home, be willing to pay fair market value. Sometimes trying to find an incredible “deal” will keep you from finding the perfect home at a fair price. Make sure you establish some detailed criteria to guide you in your decision making process. If purchasing a home well below market value is you number one priority, be patient and don’t become emotionally attached.

As always, enlist the help of a Realtor. A true real estate professional will consult with you about your objectives and how they relate to the current market. Setting expectations up front will be critical to your success in the end.

Westerville, Ohio - Home sales Statistics

August 21st, 2007 categories: Columbus, Financing, Local Communities, Real Estate News, Westerville

Well, with all that has been in the news of late about home prices, mortgage lending issues, etc. I thought I would provide some recent, detailed statistics for a specific area during a finite time period.

Below please see statistics for the entire Westerville School District from 7/1/07 through 8/21/07. Note this is not specific to Westerville proper but includes all areas making up the district. This data also includes condos as well as single family homes. This data details only properties which are listed through The Columbus Board of Realtors.

Homes currently for sale:

Under $100,000 – 47
$100,000–200,000 – 366
$200,000–300,000 – 230
$300,000–500,000 – 145
$500,000 and over – 41

Homes currently under contract:

Under $100,000 – 14
$100,000–200,000 – 75
$200,000–300,000 – 56
$300,000–500,000 – 14
$500,000 and over – 3

Homes Sold from 7/1/07 through 8/21/07:

Under $100,000 – 19
$100,000–200,000 – 91
$200,000–300,000 – 26
$300,000–500,000 – 26
$500,000 and over – 3

So what does all of this mean?

There is lots of inventory on the market in these areas. With so much to chose from this is a great time to be a Buyer!
165 Homes sold in a 45 day period. Homes are definitely selling, with pricing and proper staging being more important than ever.
162 more are in contract (not all of these will close).
The heart of the market in this area is in the $100,000–300,000 range.

The bottom line here, is things are not as bad as the media may make them seem. True, it may be harder to get a loan today if your work and credit history is spotty. For those of you with good credit and job history, however, this is a great time to Buy!

If you have questions about these statistics or would like a more detailed overview of a specific area in Central Ohio, please let us know. We would be happy to serve as a resource for you.

Bright Lights - Get out of the City!

August 12th, 2007 categories: Columbus, Entertainment, Local Communities, Real Estate Professionals, Recreation

For at least one night our family will be heading here, to join another family member so we can view the fabulous Perseid meteor shower under a clear, dark sky. This is supposed to be a great one and we are especially excited to check them out. Since we live in Westerville, we have a city-lit sky making it a tad unremarkable to see the showers. Mind you, we are able to see the evening sky rather well, but for optimal viewing pleasure, we decided to head to Delaware County, where the lights are fewer and the night sky darker.

After hoping to get some sleep, we’ll awaken around 4:00 am as we discovered this will be the best time to view this annual display of astronomical wonder. We understand that for the majority of you out there, this might be difficult to arrange with regular work hours arriving soon after sunset. One of the great benefits of being in a two Realtor household is we can be somewhat flexible with our schedules. At least that’s what we tell the kids when they question why we might occasionally be home after dinner. “Remember when we spent the night at Grandmom’s and watched the Great Perseids and then slept in really late on a Monday morning? Remember?”

If you’d like to see them locally, here are a few fine area parks offering meteor watching opportunities. If you happen to miss them on August 12, check out these other dates and events for more showers.

If you’d like to check out other celestial events at an active research facility, the Perkins Observatory offers many public viewing opportunities - year round. They do charge a nominal fee, but think of the tour guides they have there! People who know what they’re talking about and can point you in the right direction!

Our family loves exploring and honoring the outdoors, whether it be in our own backyard, area parks, or the national parks our amazing country has to offer. Simple, easy activities such as these will hopefully fill the memory banks of our children and in-laws as well as continue to harvest a sense of wonder.

Authored by Eric | Discussion: No Comments »

4567 Teton Ct., Columbus, Oh. 43230

August 8th, 2007 categories: Columbus, Local Communities, Our Listings, Westerville

SOLD!

Front (2)

Click here for a printable color brochure in PDF format!

Beautiful cul-de-sac lot backing to trees provides the perfect setting for this well maintained home. The wonderful neighborhood offers access to walking paths, 2 playgrounds, loads of green pace and planned community activities. This really is a great place to call home!

Ammenities and information:

City of Gahanna
Hoover Reservoir Park
Blendon Woods Metro Park
Easton Town Center Mall

Price: $142,900

Bedrooms: 3

Baths: 1.5

Garage: 2 car attached

Schools: Westerville

Square feet: 1,268 per Auditor

Rooms:

Living room
Dining room
Utility room
Family room

Heating/Cooling: Electric/Central Air

Features:

Updated kitchen with eating bar
Huge two tiered deck is freshly painted and ready to entertain
Private treed yard
Loads of updates including roof, windows, interior doors, painting and more!
Double vanity in full bath
Light and bright 1/2 bath in lower level
Wood burning fireplace

If this looks like the place for you or if you have questions contact us at eric@ericransom.com!

Authored by Eric | Discussion: No Comments »

Ohio State Football is coming….Here we go again!

August 7th, 2007 categories: Columbus, Entertainment, Local Communities, Recreation, Sports

It’s true. We are less than a month away from kick off at the Horseshoe. I realize many think our passion for Buckeye Football here in Columbus borders on insane. I for one enjoy the ride each year and am looking forward to another season.

I consider myself a die hard fan and despite last year’s humiliating loss to Florida and the loss of so many talented players, I believe in this year’s squad. Last year was a great run, but it is in the past. Let’s look to the future whatever record it may bring.

And as we look to the future I offer some suggestions for good fan behavior. My time at the 2006 Michigan game, which was potentially one of the best college football games of all time, was marred seriously by ignorant, rude and childish fan behavior from all ages.

Don’t get me wrong, I enjoy a bit of tailgating before the game just as much as the next Bucks fan. The reality, however is that too many take it too far. Drunken, cursing fans and burning couches are unbecoming to say the least.

I would think every OSU fan would want visitors to our area to be impressed by our home town including the people, the sports facilities, the sportsmanship and the football team. With this in mind I would encourage everyone attending a Buckeye game to consider the following:

We are ambassadors of the University, the City of Columbus and the State of Ohio.
It really is, in the end, just a game.
The players on the field are just kids and they work incredibly hard to provide the sporting entertainment we so enjoy. Honor them.
We owe it to the younger generations in the crowd to see what true sportsmanship is and how to be a true fan, win or lose.
We know what is right and wrong. Remember the golden rule and treat others as you would like to be treated.

I believe we can be the best fans in the land, but from my experience this has not been the case. I attend many games and I LOVE Buckeye Football. My comments here are not meant to criticize the fans as a whole or to take away from the excitement of the coming season.

I just know the Horseshoe can be a better place on Saturday afternoons. With all of this in mind, dig out your Buckeye necklace and the four paneled scarlet and gray corduroys, smear on some face paint and GO Bucks!

O-H!

Authored by Eric | Discussion: 4 Comments »

7343 Summerfield Dr., Lewis Center, Ohio 43035

August 6th, 2007 categories: Columbus, Delaware, Lewis Center, Local Communities, Our Listings

Front

Click here for a printable color brochure in PDF format!

This is a fantastic opportunity to live in a community with many higher priced homes. This well maintained two story features a huge lot in Summerfield Village, a community highlighted by walking paths and a community pool. The location just North of Orange Road provides easy access to freeways, shopping and dining. A few of the easily accessible amenities include:

Price: $239,900

Bedrooms: 4

Baths: 2.5

Garage: 2 car attached

Schools: Olentangy

Square feet: 1,763 per Auditor (lots of additional square footage in finished lower level)

Rooms: