Buying Real Estate in New Albany

Franklin County Property Appraisals Released Today

Check your mail for your new home valuation! We know property values have fallen since the last county wide appraisals were done in 2005 but just how much? You’ll know soon. The Franklin County auditor’s office is mailing the new valuations today! It’s unprecedented and will be interesting to see what they look like. While the auditor reports that Franklin County property values are down 6.7% from 2005, I expect to see a deeper decline in the New Albany valuations. What if you don’t agree with the new valuation?

Lunch with Snoopy

We had a great luncheon meeting with our lender partner, Scott Miller of Met Life Home Mortgage, and his team yesterday at their new corporate digs. The focus of the meeting was for our team to get a complete understanding of the new world of home loans and the process from application to funding. To quote an old song from my youth "It don't come easy" . There are lot's new steps and lots of different hand offs, gates and gate keepers. "Rushing" any deal these days is all but impossible as the banking industry is still reeling from the sub prime mess. Mac & Mae At the end of the day, 90% of all loans come through the federal entities Freddy Mac and Fannie Mae. So if you are going to get your loan through Acme Savings and Loan or Ginormous National Bank, at the end of the day the money and the thumbs up or down are tied to Mac and Mae. That's because Acme and Ginormous sell their loans to Freddy and Fannie, and while they once took in any 'ole kinda loan like a lost puppy, they are now very picky.

Thomas Times Summer 2011 eNewsletter

Every Realtor should have to experience selling their own home in order to fully understand and remember the challenges a seller faces when selling their home. Tony and I are in the midst of selling ours after 15 years in the same place! The listing process was painful – staging, cleaning, and frequently being the bridesmaid instead of the bride...

New Albany Real Estate Stats – Mid Year

New Albany Real Estate is Back! All I can say is Wow! Sales of New Albany real estate continues strong and bucking the trend in Greater Columbus. For the first half of 2011, unit sales of single family homes are up 20% over same time last year. Unit sales in the Greater Columbus area are down 15% for the same time frame. Will it continue? The number of homes “in contract” at the end of June are up 50% over last year which leads me to believe that the New Albany trend will continue into the 3rd quarter. These stats are pretty amazing considering the inventory of homes available for sale in New Albany is down 23% over this time last year. Sustainability of the trend will depend on if we can rebuild the inventory of homes available for sale. If you’ve been thinking about selling but have been holding back, it looks like now is the time to get into the market! Call Kate or Tony Thomas today!

Sunny Skies Should Continue in New Albany, Ohio

Home Sales Up 29% YTD in New Albany I just pulled the Year-to-date statistics for home sales in New Albany and was very pleasantly surprised at how strong they are. Through May, 2011, 124 single family homes have sold in the New Albany Plain Local School District versus 96 sold through May in 2010. This is a remarkable 29% increase in homes sold this year over last. TY/LY sales for the Greater Columbus area are down 16%. Need Homes to Sell to Sustain Trend With this leap forward in home sales, and a large inventory of homes currently in contract, New Albany is positioned to have a truly excellent year. The only stumbling block that I see right now is if the low number of homes for sale is not replenished. Inventory levels are off significantly. In order to sustain the current trend, it’s time for the “don’t have to sell, but want to sell” sellers to re-enter the market. If you fit that description or are a “have to sell” seller, then we want to talk with you! Call or email us today.

Not Enough Homes for Sale in New Albany, Ohio!

Hard to believe but true… There are simply not enough homes available for sale in the New Albany Plain Local School District. New Albany real estate inventory levels are at record lows – off almost 40% from this time last year. Prices are stabilizing and buyers are looking. I have to say, if you’ve been on the fence about selling, this would be the time to get your New Albany home on the market.

What is a Buyers Agent?

I had a phone call from a gentleman this week asking if I was the listing agent for a home for sale in New Albany. I replied that I wasn’t but that I could help him as a buyer agent to which he replied, “What’s that?” It made me realize that as Realtors, we use a lot of terms that may not be familiar to those not in the business. So I took a moment to explain to him what a buyer agent is along with explanations of other common terms. Real Estate Brokers – Real estate brokers have a real estate broker’s license and operate a real estate brokerage. New Albany Realty is the brokerage that Kate & I work for. Realtors® – A Realtor is a licensed real estate agent who is also a member of the National Association of Realtors® (NAR). We are members of NAR® and thus, are able to call ourselves Realtors. Listing Agents – Listing agents are real estate agents who represent sellers, market their homes and work to get their sellers the best price and terms. In Ohio, with written permission listing agents may also represent the buyers for their listings. Buyer Agents – Buyer agents are real estate agents who represent buyers, help them find homes that meet their criteria, and work to get their buyers the best price and terms. We have 2 Buyer Agents on our team – Bev Klein and Laura Kohler. Bev and Laura are available to assist you with your home search so don’t hesitate to contact them. Kate & Tony work with both Sellers and Buyers and would be happy to work with you!

SOLD in New Albany in Less Than 20 Days – WHY???

Why do some homes sell quickly while others do not? The 3 New Albany homes pictured above went into contract in 2 – 20 days. Every homeowner thinks their home is “special” – obviously these buyers agreed. Sometimes it’s luck, but it’s becoming clearer and clearer to us that luck is a very small piece of the puzzle. When we meet with sellers, we used to ask “do you want honest or brutally honest?” We don’t do that anymore – every seller needs to hear brutally honest and then follow the brutally honest advice we offer. That’s why these three homes sold as quickly as they did.

Homes For Sale in New Albany at a 2 Year Low

The number of single family homes for sale in New Albany, OH reached a new low in February falling 34% from the same time in 2009. There are currently 168 homes for sale in New Albany Plain Local School District versus 207 in February, 2010 and 256 in February, 2009. The following neighborhoods have reduced inventories from the same time 2009. Some declines are more significant than others.

New Albany Home Buyers Eliminate Many Homes For Sale

Today’s buyer has many choices of homes to choose from and has the ability to preview as many as their time allows. Using the internet, buyers can preview and “eliminate” hundreds of homes for sale. As they view these homes, they are looking for reasons to eliminate it from their list. The reasons are varied – they may think it needs too much work, is too small, don’t like the color it’s painted, etc. The reality is that the house may be a good fit for them and the reason they choose to eliminate it from the list could be easily rectified.

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