Central Ohio on $750,000

Photo via The Columbus Dispatch

Each month The Columbus Dispatch showcases a variety of homes within the Central Ohio area that fall within the same price range. For February, the Dispatch featured homes with prices close to $750,000. From a condo in Bexley to 20 acres in Mount Vernon, $750,000 can go a long way in Central Ohio. See the full list here.

9 trees with the best fall colors

Source

Fall has come to Columbus, bringing shorter days, cooler temperatures, and brighter landscapes. For those of us lucky enough to watch their transformation up close, the dazzling, changing colors of the trees are a true delight.

Green with envy over your neighbor's fall foliage? Here are HouseLogic's list of trees with the best fall colors to turn your yard into an autumnal wonderland.

1. Japanese Maple

With its maroon-red leaves, a Japanese Maple is a beautiful tree that attracts songbirds and squirrels. Houselogic recommends planting it in the shade, so its leaves don't burn in the summer heat.

2. Vine Maple

Houselogic cites this tree's curb appeal provided by its unique, twisting branches. The Vine Maple provides all three classic fall colors (yellow, orange, red) in its leaves, making it a perfect autumn addition.

3. Viburnum

The Viburnum is technically a shrub, but that doesn't make its fall appearance any less stunning. Its leaves turn shades of red and purple, while its berries add lovely blue accents.

4. Paper birch

The crisp contrast of this tree's white trunk and bright yellow leaves signal that fall has arrived! Houselogic also recommends tapping the tree for its sap to make syrup, vinegar, and beer.

5. Sugar maple

Like the Vine Maple, this tree boasts hues of red and orange, but the Sugar Maple's leaves reach another level of fall time perfection: gold. Another fun fact: the Sugar Maple has a very long lifespan, with some living up to 500 years!

6. Smoketree

Houselogic recommends using this shrub as an accent tree. The Smoketree is especially dynamic, with red-purple leaves in fall, and wispy, pink blossoms in spring

7. Katsura Tree

This tree does require some extra TLC, but there's a big payoff. The Katsura tree has a spread of up to 60 feet and its fallen leaves smell like cinnamon.

8. Sourwood

The Sourwood tree makes the list for its scarlet red leaves and silver seed capsules (sounds like Buckeye colors to us!). The capsules will stick around through the winter and bees will frequent Sourwood trees in the spring and summer to produce sourwood honey!

9. Scarlet Oak

Like its name implies, the Scarlet Oak's leaves turn bright red in the fall. According to Houselogic, larger songbirds and wild turkeys love the Scarlet Oak!

June Home Sale Inventory On the Rise, Prices Highest Ever

 

According to a report released by Columbus REALTORS, there were over 7500 homes for sale in central Ohio this June, which is a 2.5% increase over last year and the highest number for 2015 so far.

Columbus REALTORS President Kathy Shiflet thinks this growth means homeowners realize its a good time to sell.

“Central Ohio homeowners have realized it's an opportune time to put their home on the market. . .” she said. “Both the real estate industry and the temperatures were hot last month!”

Furthermore, homes are still selling quickly in central Ohio with homes spending an average of just 47 days on the market, which is down 15 days from 2014.

More good news: home sale prices are on the rise, as well. Last month, the average home sale price for central Ohio was $206, 061. According to Columbus REALTORS, this is the highest on record.

Many think this hot market is here to stay. According to the report, 93% of central Ohio REALTORS expect this trend to continue with prices rising over the next year.

It seems that now is a great time to sell your home. If you're considering selling your home, visit my website and contact me to see how I can help. I am a full time Realtor with a 100% focus on serving Sellers (and Buyers!) in Central Ohio.

The five central Ohio communities where home values increased the most

 

According to an article in The Columbus Dispatch, Upper Arlington homeowners who bought their homes in April of 2009 saw the greatest appreciation in home value in all of central Ohio. Upper Arlington home values reportedly increased 28% from 2009 to 2015.

Based on a report compiled by Zillow, Bexley homeowners who bought in April 2010 also saw a large growth in home value. Buyers in 2010 were able to snag their homes for a median price of $233, 600. Those same homes now have a median value of $296,700.

Three other communities in the central Ohio area saw appreciation in their home's value over the past few years. Worthington saw 19.8% rise from 2009, Marysville saw a 17.6% rise since 2011 and Reynoldsburg home values grew by 15% since 2012.

If you're interested in buying or selling a home in these areas (or anywhere in Central Ohio)  visit my website and contact me to see how I can help. I am a full time Realtor with a 100% focus on serving Sellers and Buyers in Central Ohio.

 

 

Central Ohio home sales on the rise

News flash: the central Ohio housing market is booming! According to a new report released by the Columbus Board of Realtors, May 2015 home sales for central Ohio were up almost 18 percent from the previous month, and grew 8.4 percent compared to May 2014. The Board also reports that the number of home sales for the first five months of this year are the highest on record, according to data from the Columbus Multiple Listing Service (MLS).

Columbus REALTORS® President Kathy Shiflet believes this surge will last, stating “There is an incredible amount of buyer interest right now, and no one is wasting any time purchasing a new home...I don't anticipate [it] waning any time soon.”

Homes are also selling more quickly. In May 2015, central Ohio homes only spent an average of 54 days on the market before they closed. This average is down 11 days from May 2014.

And the good news doesn't stop there. Average sales prices of central Ohio homes are also on the rise. May 2015 saw a 9.1 percent increase from last May.

No matter how you look at it, this is great news for central Ohio homeowners. Shiflet summed it up best when she said “It's simply a terrific time to sell your home!”

If you're considering selling your home, visit my website and contact me to see how I can help. I am a full time Realtor with a 100% focus on serving Sellers (and Buyers!) in Central Ohio.

Central Ohio Apartment Construction Skyrockets Alongside Rental Rates

The current market in Central Ohio is geared towards renters: last year, for the first time in two decades, more apartments were built than single family homes, at 3,037 and 2,903, respectively, according to The Columbus Dispatch. This stands in stark contrast to 2006 to 2012, during which time the number of apartments built was fewer than 5000, or about 833 a year. Percentage wise, the number of rental households in Central Ohio rose 8.7 percent between 2009 and 2013 while the number of owner-occupied households dropped 9.3 percent, according to the National Association of Realtors. 

Part of this can be attributed to inadequate finances following the recession; part of it can be attributed it to changing preferences and demographics. Young people are getting married and starting families later in life; so too are they delaying buying their first home. On the other end of the spectrum, there is an increasing rental demand from empty nesters looking for low-mainitence lifestyles. Both cases have resulted in an increased spread of luxury apartment buildings offering things like granite countertops, walk in closets, high ceilings with crown molding, wood floors, and prime locations walking distance to restaurants  bars, shops, and parks. The Short North, Downtown, German Village, Victorian Village, Italian Village, and Brewery District are popular areas. Of course, this all comes at the expense of soaring rental rates. One bedrooms of this sort are rare for less than $1000 and two bedroom units can cost as much as $3000 per month. 

Aston Place is one of many newly constructed apartment complexes in the Short North

As a result, homeowners can find some strong incentives to buy, including historically low interest rates and tax incentives. Not to mention, when you buy a home, you benefit from building equity and property appreciation. You can update or modify your home as you please and don't have to abide by silly rules ("no candles"), and forget paying an extra $30/month for having a pet, and another $80 for parking your car. Use Realtor.com's Rent vs. Buy Calculator to see which option would make more financial sense for you, or contact me to see how I can help. 

Experts expect apartment construction to slow down within the coming year, as the best locations are purchased and developed. 

Housing's Supply Problem Exposed

You may already know that the current residential real estate market is suffering from a lack of supply. But just how serious is this issue, and what's causing it?

According to a recent CNBC article, The National Association of Realtors reported that the housing market was still underperforming in February. There are currently just less than 1.9 million homes for sale, which is less than last year and "well below current demand." Whereas the number of listings typically increases by 6 percent from January to February, the number of listings this year increased by less than 2 percent. Even foreclosures are down, reaching their lowest level last month in 8.5 years. Lack of supply results in increased prices: prices have risen 7.5 percent year over year, as the median home sale price as of Feburary was $202,600. Lawrence Yun, Chief Economist for the Realtors, considers these price gains "unhealthy." So, what's behind this persistently low supply?

• Larger builders are gaining share over smaller builders, who don't have access to credit. Larger builders tend to cater more to higher-end buyers, not first-time homeowners, pricing this key demographic out of the market.
• Relatedly, many people are choosing to rent instead of buy. For this reason, rental prices have increased sustainability and show no signs of stopping. In turn, renters are struggling to save enough money for a down payment.
• Buyers are low on cash and are highly concerned with value following the recession. They want to feel as if they are getting a good deal, which is hard to do in light of increasing prices and fewer housing options. 

Peter Boockvar, managing director and Chief Market Analysis of The Lindsey Group, states that household growth and even higher rental rates will cause a nice rebound in the housing market, reaffirming that a slowdown in the pace of home price gains is much needed.

Now is a good time to sell, as sellers can take advantage of the recent price increases caused by the limited supply of listings. Visit my website and contact me to see how I can help. I am a full time Realtor with a lifetime of experience serving sellers (and buyers!) in Ohio.

2014's Top U.S. Moving Destinations

For the second year in a row, Oregon has been named the top moving destination within the U.S. according to United Van Lines' 38th Annual Movers Survey. As the nation's largest household goods mover, the company tracks state-to-state migration patterns, and reports that 66% of Oregon moves were inbound in 2014 as opposed to outbound. South and North Carolina were close behind, each at 61%. Oregon is popular due to its outdoor recreation, culture, and arts and entertainment scene, among other factors. In fact, CNNMoney cites Portland as one of America's most innovative cities. It notes that Portland built a light rail in 1986 instead of a new highway, and commends the city's sustainability and high percentage of bicycle commuters thanks to a 1973 bicycle plan, urban trails, and short blocks.

This is part of a larger patten in which people are leaving the Northeast (with 1/4th citing retirement as the reason) to southern and western states, where housing costs tend to be lower, the weather is more temperate, and job growth is at or above the national average.

States with at least 55% of moves going into the state are considered "high inbound" (marked in blue), states with at least 55% of moves going out of the state are considered "high outbound" (marked in yellow),  and states with relatively equal inbound and outbound rates are considered "balanced" (marked in gray). The migration map below depicts which states fit into each of the above categories:

States with the highest outbound rates include New Jersey (65%), New York (64%), and Connecticut (57%). New this year, Ohio is on the outbound list, ranking sixth with an outbound rate of 59%. Thinking about moving to or from Central Ohio? Visit my website and contact me to see how I can help. I am a full time Realtor with a lifetime of experience serving sellers and buyers in Ohio. 

Housing Market Update

Jim Weiker writes in The Columbus Dispatch that recent trends continue: home shortages, increased home prices, reduced time on the market, and declining home sales. Why is the imbalance between buyers and sellers so persistent? Weiker reports that roughly 20% of central Ohio homeowners still owe more than the value of their home.  Others are worried that their house will sell too quickly, that they won't have anywhere to live when it does sell, and that interest rates (despite being relatively low) are not as good as the ones they are currently sitting on. Another problem is minimal new home construction. According to Lawrence Yun, the chief economist with the National Association of REALTORS, claims that new-home construction needs to increase by at least 50 percent in order to create a balanced market. Is this market the new normal, or is it just facing a slow recovery? Columbus REALTORS reports in a recent article that the number of central Ohio homes and condos sold in July 2014 increased by 11.4% from June 2014, but is still slightly down from June 2013 (by 3.3%). Promisingly, inventory is up 5.5% from May 2013.  Unfortunately, price increases usurp inventory gains: the average sales price of a home rose by 9.1% since just this May.

Overall, it's impossible to predict the housing market. It seems that gains have been made in past couple of months, but that the market is not as healthy (as of June 2014) as it was one year ago (June 2013), when central Ohio sales were 3.3 percent higher (2,952 compared to 2,856), the median price was 3.8% lower ($159,400 compared to $165,500), and the average number of days on the market was 16.7% higher (72 compared to 60). Despite a market that tends to favor sellers, 100% of central Ohio REALTORS classify the housing market as moderate to strong, and expect it to remain so over the next six months, according the latest Housing Market Confidence Index.

Sellers: Turn a "Looker" into a "Buyer"

The best incentive you (as a seller) can offer buyers is a fairly-priced home in great condition. However, there are more creative incentives that may make your listing stick out. Buyers need to be able to picture themselves living in the home you are selling. If you are selling a home or condo on the water, consider including a kayak, jet ski, or fishing equipment in the home's asking price. If your home in on or near a golf course, include a golf cart. These "bonuses" will help stimulate excitement among buyers.

If you are selling a home as a vacation home, consider leaving it furnished or providing a gift card for furniture. A buyer may not have enough furniture to fill a second home. Stocking your home with fresh linens, towels, and kitchenware is also a plus.

If your buyers are concerned about affordability, you can coax them into buying your home in a number of ways. Offer to pay some of their closing costs. If your home requires you to pay HOA fees, offer to pay the first year's worth of HOA fees for your buyer(s). The same goes for homes that are near community country clubs. You can offer to pay initial membership fees, and also monthly fees as you see fit. This will help buyers picture themselves living in your home, because it links them to their new community from the start. You can also offer to pay a year of property taxes and/or mortgage payments. Some sellers allocate money for buyers to use on repairs and rennovation, which helps when buyers are concerned about the condition of the home. 

It comes down to understanding your buyers--what are they looking for most? Some sellers leave behind appliances, televisions, and even cars!  No matter what you end up including in your final offer, be sure to communicate with your real estate agent about prospective buyer feedback, which can help you strategically list and market your home.

Need an agent? Contact me! I work with both buyers and sellers in Central Ohio. Read what my previous clients have to say, here.

Red, White & BOOM! Coming to You.

The annual fireworks show, Red, White & BOOM! is returning to downtown Columbus, Ohio this year. But the event is more than just a fireworks display. Festivities start at noon on July 3rd with Columbia Gas' Children's Park. The Park advertises COSI on Wheels, carnival games, inflatables, face painters, and balloon twisters. The Arena District's Taste of BOOM! kicks off at 3pm, allowing people to walk Front St. to Neil Ave. while sampling food from top resturants and enjoying live entertainment. Central Ohio's largest independence day parade begins at 6pm on the Main St. Bridge. With over 70 entries, the parade offers excellent entertainment for the whole family. The fireworks start at 10pm, during which time you can witness live broadcasts from NBC4 (5-11pm) and WNCI (10-11pm). The party doesn't end there, though. The official after-party takes place at The Three Legged Mare, a locally-owned irish pub in the Arena District!

To view the entertainment schedule for each stage, click here. The event website also has information on directions, transportation, and parking.

View more Franklin County firework shows here. 

How to Sell Your Home: Part 2

Read "How to Sell Your Home: Part 1"

So, you've received an offer on your home. What now? Your REALTOR can help you evaluate any offers you have. One concern is the buyer's ability to financially fulfill the contract terms. Your RELATOR can check for the pre-approval letter that should accompany an offer. Also consider the following points:

• How does it compare to asking price?
• Will your home appraise for the contract price?
• How large is the earnest money deposit?
• Have the buyers asked for assistance with closing costs or for you to make repairs or provide home improvement credit?
• Is the requested settlement date appropriate?

If you're not satisfied, you can reject the offer or draft a counteroffer than lists different terms. Be prepared to compromise to some extent. Keep in mind that buyers will likely conduct home inspections,  and be prepared to addess any resulting concerns. Before you close, you'll also want to get your home appraised, if you have not done so already. The buyer and seller must agree on a settlement day. Sellers can enter into a "rent-back"agreement with the buyer if they wish to continue to live in the home after the settlement date by paying rent to the buyer. Finally, title to the home is transferred at closing. Payment is closely examined and distributed by the closing agent and the buyer provides funds to buy the home. For more information on what the seller must pay upon closing, click here. 

Now you can go home, open a bottle of champaign, and cheers to the next page in your life. Oh, and you should probably get packing!!

How to Sell Your Home: Part 1

Before you list your home for sale, you should prepare your home so that it shows well to potential buyers. This includes improving your home in ways that do not involve capital investments (which you are unlikely to recover). Cosmetic improvements (painting your home, landscaping, etc) are a good place to start. You'll also want to de-clutter your home, which involves cleaning your home and putting away things that sit out and make a space look busier. If you have kitchen items that you store on top of the counter, for example, you can put them in cabinets or drawers instead. This will make the countertop appear larger and neater. It's okay to leave out a few pictures here and there, but it's best to put photos away too. Aside from taking up space, pictures inhibit buyers from imagining your home as their own.

Next, you should hire a REALTOR, which is a real estate agent who belongs to the National Association of Relators (N.A.R.). REALTORS abide by a code of ethics, have access to a broad range of learning and certification opportunities, and serve as community experts. Feel free to meet with multiple REALTORS to see who you feel most comfortable listing with. Ask important questions, such as "what services do you offer? What experience do you have with the area I live in? How will you price and market my home? What is your fee?" If you are selling a home in Central Ohio, contact me to set up an initial meeting! I have experience in many communities, including but not limited to Dublin, Hilliard, Powell, Upper Arlington, Westerville and Worthington. You can also find a REALTOR on Realtor.com Once you've chosen a REALTOR, she or he will work with you to set the list price. Naturally, sellers want to get the most money they can for their home. However, an overpriced home is the number one reason that home doesn't sell. The listing price should reflect many factors, including location, competitiveness of the housing market, economic conditions, and owner needs (do you need to sell your house in a month because you are moving, or can you afford to wait a bit longer until a more attractive offer comes in?). 

Your RELATOR may suggest further improvements or repairs that will help your home sell faster. Your REALTOR will then market your home, which entails listing it on the MLS, hosting open houses, sending out direct mailings, reaching out to other real estate agents who have potential buyers, taking photos and videos, etc. Ask your REALTOR to show you his or her marketing plan upon an initial meeting. How can you help? Provide your REALTOR with community information (amenities or sports leagues, for example) so he or she can better know the area. Keeping your home clean and tidy at all times is very important, since showings can occur last minute. Finally, leave the home during showings and open houses. Potential buyers stay longer in homes when the current owners are not present. 

Read "How to Sell Your Home: Part 2" next week to find out how to evaluate offers and make it to the closing table! Click on the video below for more details on how to prepare your home to sell.

Read "How to Sell Your Home: Part 2"

Zoombezi Bay Now Open for the Summer!

There's no better way to dive into the summer than by spending a day at Zoombezi Bay! Located in Powell, Ohio, and owned by the Columbus Zoo and Aquarium, Zoombezi Bay is a popular outdoor water park for Central Ohio residents and visitors. It borders the Columbus Zoo as well as Jungle Jack's Landing, an amusement park opened alongside Zoombezi Bay in 2008.

Zoombezi Bay has something for everyone. Attractions include a lazy river, a wave pool, Baboon Lagoon Children's Play Area, and multiple water slides. Guests can also rent cabanas and spend the day relaxing under the sun. Additionally, the park hosts special events, such as Education Days and Dive-in movies.

What you need to know to plan your visit:

Admission: For Columbus Zoo members, general admission is $23 (children under 2 are free). For non-members, the price ranges from $22-$29, plus $8 parking. ZoomPasses cost an additional $10-$20, depending on zoo membership and type of ZoomPass. The water park also offers discounted 2-day tickets, as well as season passes that range from $85-110.

Hours: The park is typically open from 10:30am to 7pm, although there are exceptions. Be sure to check online or call ahead to inquire about a specific day.

Location: Zoombezi Bay is located near the intersection of W. Powell Road and Riverside Drive, as shown below:

Want additional information? Check out Zoombezibay.com !

A Strong End for 2013

The 2013 housing market finished strong, and 95% of Central Ohio REALTORS expect it to remain moderate or strong over the next six months according to the Ohio Association of REALTORS's Housing Market Confidence Index. Why? Let's look at some key statistics:

• From December 2012, December 2013 saw a 2.5% increase in the number of home sales. At 1735, This is the most sales on record since the peak of the housing boom in 2005. 

• December inventory of 8,732 was the lowest its been since 2000. More specifically, 2013 had the lowest inventory on record for Central Ohio, at just 3.9%. 

• Overall, 2013 documents the second-highest sales year on record. It experienced a 17.1% increase in the number of closed sales since 2012. 

Contact me if you're interested in buying, selling, or renting a home. I have the experience and expertise to guide you through today's housing market. 

What to Look for in a Neighborhood

Many Realtors will tell you that location is everything when it comes to choosing a home. When evaluating location, neighborhood is key. Consider the following factors when determining if a certain neighborhood is right for you:

Priorities. Determine what exactly you're looking for during your home search. What's more important: the house or the community? Chances are, budget restraints may leave you no choice but to compromise on one or the other. Be realistic about finding  a home with desired qualities in the best location based on your budget. Would you like to live in a city, suburb, or rural area? What amenities are most important to you? For example, how would you prioritize a neighborhood gym, pool, restaurants, shopping, or nightlife?

Schools. Everyone knows that, for those who have children, living in a highly ranked school district is favorable. What everyone doesn't know is that school district is also important to homebuyers who don't have kids. Why? they maintain higher value. Americans pay $50 more per square foot for homes near a top-ranked school than for home near average schools, according to a research study completed by Redfin Real Estate Company in 2013.

Transportation. Test your commute to work from various neighborhoods you're considering moving to. Note how close you are to public transit options and town centers that feature restaurants, shops, and entertainment. Similar to school district, transportation is important for resale value. In other words, even if you don't mind being far from amenities or transit, future buyers will likely value properties close to such features more so than those that are far. Unfortunately, you can expect to pay more for homes that are close to the city center and/or public transportation. If such a location is important to you, be prepared to compromise on the size, age, or condition of your home.

Finally, visit the neighborhoods you're interested in at different times of day, during different days of the week. Take note of home maintenance and community gatherings. If possible, talk to people about what it is like to live there. Realtors are qualified to help you find the best location based on your wants (and your budget). For those looking at homes in the Central Ohio area-contact me. I can help!

Rental Market Hot

Apartments are in high demand, as many renters are unable to get home loans. The national vacancy rate of 4.3% is the lowest it's been in over 10 years. In downtown Columbus, the vacancy rate is a minimal 2.4 percent. Nationwide, over 140,000 new apartments are being built this year, 13,000 of which are underway in Central Ohio, but this still doesn't meet demand. What does this mean for renters? Central Ohio rates will increase by 3.6% this year.

August Home Sales Record High

Central Ohio home sales for summer 2013 stand at their highest point on record. Chris Pedon, Columbus board of REALTORS president, states that "home sales over the summer were off the charts." He notes that only one summer (2005--the height of the housing boom) even came close to seeing the same volume of home sales. Homes sold from January-August of this year exceed those that sold during the same time in 2012 by 23%, and also surpass those of any prior year. The 2,729 home sales in August of this year marks another record high, exceeding August 2012 home sales by 11%. School systems are noticing this trend, indicated by increased student enrollment in many major school systems such as Dublin, Olentangy, Hilliard and Westerville. While inventory is slowly increasing and home sales are slightly declining from earlier summer months such as July, demand still outnumbers supply. Pedon advises homeowners who have considered moving to move now, before demand further declines. Read the full housing report here.

Looking for an agent? Contact me to see what I can do for you.

Local Builders Dominate Central Ohio's Market

The Columbus Dispatch writer Jim Weiker revealed on Sunday how Central Ohio's residential construction is dominated by big and aggressive local firms, to an "unusual degree." More than 12,000 of the approximate 13,000 apartments under development in Central Ohio are being built by companies based in the area. M/I Homes and Dominion Homes account for over half of all homes built in Central Ohio. Jim Hilz, executive director of the Building Industry Association of Central Ohio comments that for two companies to have that amount of market share is unprecedented. All but three of Central Ohio's other big home builders are based in the area. Aside from Ryan Homes, based in Reston Virginia, none of the nation's largest builders even operate in Central Ohio. Many have tried to establish themselves (Beazer Homes, Toll Brother, and Centex Homes) but have failed to do so. Central Ohio's local companies such as Bob Webb and Romanelli & Hughes continue to thrive thanks to their strong roots and good reputations with residents, customers, and landowners. A local company's established arrangements with subcontractors, experience with customers who may wish to remain with the same firm, and connections with land-owners and developers all benefit local companies.

Distressed Properties Down as Market Recovers

This summer, supply of conventional homes has decreased while demand has increased. But what about foreclosures? According to In Contract magazine, the number of lender-mediated properties, commonly known as distressed properties (such as short sales and foreclosures), for sale in Central Ohio dropped by nearly 50 percent in the first three months of 2013. The inventory of distressed properties fell by 42.2 percent from the first quarter of 2012 to the first quarter of 2013. Meanwhile, distressed property sales increased by 19.9 percent. Perhaps more interesting, the number of closed sales for lender-mediated properties succeeded the number of new listings by more than 10 percent, meaning a good number of distressed properties that have been sitting on the market for awhile have been sold. Nonetheless, the sales mix is “shifting away from distressed properties and back toward traditional homes.” Supporting this claim is the that fact that the sales price of distressed properties has increased by 1.6 percent in the past year, while the sales price of conventional homes has increased by 4.2 percent (averaging $64,000 and $163,000, respectively).

These statistics speak to the market’s recovery, as Central Ohio has witnessed a very active market in the past couple of months. In fact, according the Housing Market Confidence Index released by the Ohio Association of REALTORS, 96% of Central Ohio REALTORS classify today’s market as “moderate to strong,” and all expect it to remain so over the next few months. Home prices and appraisals are largely believed to stay the same, or increase, in the year to come. Interested in buying or selling? Contact me--I would love to help.