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.

A look at a few key metrics tell the story. New Albany Real Estate is on the rebound. While first portion of 2010 was driven by tax incentives and first time home buyers, we really just "borrowed" future sales from July and Aug to hit the June 30th deadline. We were really pretty flat through mid 3rd Quarter 2010. Then we had a good finish and pushed ahead of 2009 in these important areas:

You don’t have to look too hard for some encouraging real estate news in New Albany from last year. Overall, prices stabilized and unit sales were up 13% over the 2009 numbers versus a 5% decrease in unit sales in the entire Columbus Board of Realtors. As you will see in the chart below, some neighborhoods faired a little better than others. The New Albany Links and New Albany Country Club communities significantly improved in units sold but lost a little ground in sales prices while The Preserve and Albany Park saw improvement in sales prices.

OK, so here's the details of So How We Doin' New Albany by neighborhood: NACC Homes Sold 2010 Hampsted Village Homes Sold 2010 New Albany Links Homes Sold 2010 The Preserve Homes Sold 2010 New Albany Park Homes Sold 2010

New Albany Home sales in June increased over May by 45% (31 homes in June vs. 21 homes in May).   "Low interest rates, high inventory and competitive pricing continue to fuel the housing market here in central Ohio," says Greg Hrabcak, President of the Columbus Board of REALTORS®. "As long as we have these three critical factors in place, home buyers and investors are actively pursuing a home...

It Takes Location, Condition and Price to Sell a Home! Selling a home in today's market is challenging to say the least. In the past, you could overcome a less desirable location with a great price. You used to be able to overcome dated condition/décor with a great location and floor plan. And occasionally, a home in a great location and superior condition would sell for more than one might have...

As I stated in our May e-Newsletter, there are many reasons to be optimistic about the housing market, not the least of which shows year to date unit sales in New Albany are up over the same period last year.  The Columbus Board of Realtors recently published a few other pieces of good news I'd like to share:  "The Housing Crisis is Over," says the Wall Street Journal, Op-Ed writer Cyril...

I just read an article in the Wall Street Journal real estate newsletter which really helped to put a new spin on real estate in New Albany, Columbus and the Midwest as a whole. We keep hearing about how bad the real estate market is but think about what you can actually buy here versus some other parts of the country. Using $400,000 as a comparison: In New Albany, you can buy a 3600 square foot home...

Kate & Tony have sold more Hampsted Village Homes than the next 6 REALTORS® combined! When it comes to their business goals, Kate & Tony have a shared vision: client comes first, excellence is the standard, and integrity is key. Setting them apart are cutting edge marketing advantages like the custom-designed site, newalbanyohio.com with a satellite mapping tool to dynamically...

Yes, absorption is the correct term for Sponge Bob's ability to soak up water and the same holds true in the real estate industry. In real estate, the absorption rate is the amount of time, generally expressed in months, that it will take a market to "absorb" the current inventory based on recent history. In other industries, this measurement may be called turnover rate or simply weeks or months of...