It was a great month on the New Albany real estate market, especially if you’re a home seller. Evidently, home sales in Central Ohio are up while total home inventory is down. Continue reading to learn more about current market trends on this Central Ohio real estate market. Central Ohio Properties for Sale Thinking about selling your home? Be sure to check out the latest market statistics...
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New Albany Country Club Homes Prices Hold Sale prices of homes in the New Albany Country Club community seem to have leveled out. 2012 prices remain equal to 2009 and 2010. One of the gauges we use to evaluate sales trends is $ per Square Foot. If you look at the past 3 years, the average sales price for real estate in the New Albany Country Club area has been ~$162/square foot. While this...
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?
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.
An article in the August 13th issue of the Columbus Dispatch referred to a growing foreclosure problem in the suburbs of Columbus. I began to wonder if this applied to New Albany as well. I searched the Multiple Listing Service to see how many of the homes that have sold in NA so far this year were either Foreclosed properties or Short Sale properties. 22 Foreclosed or Short Sale Homes Sold in...
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 was reading the Columbus Dispatch on Sunday, a Chase ad for a Home Equity Line of Credit caught my eye. It advertised variable rates on Home Equity loans as low as 4.99%. At first glance, this looks like it could be great, and in certain situations, probably is. However, if you have any plans to sell your home in the next couple of years, I urge you to give it a lot of thought and here's why. When...