Columbus Ohio is a city of many cities. On the north end is Worthington, Westerville, Dublin and Powell. In the heart there is Clintonville, German Village, Victorian Village and the Short north. The list goes on, so I wont bother you with the details, but you get the idea. Within this city are many hidden gems. Cities that are overlooked by many but which hold surprising variety.
Westerville is one of those hidden gems. I may be a little bias because I live there but I have a major magazine to back up my claim. Westerville was ranked number 46 on Money Magazines Top 50 Places to live. (http://money.cnn.com/galleries/2007/moneymag/0707/gallery.BPTL_top_100.moneymag/46.html)
Westerville boasts a variety of activities including over 40 parks that includes Hoover Reservoir, bike trails, art galleries, community centers and festivals. Westerville's quaint downtown, named Uptown Westerville is a thriving business district with shops and restaurants. Otterbein College is located in Westerville and regularly participates in city activities.
Home prices range from below 100,000 to well over 500,000. Westervilles housing market is probably it's best kept secret. Not only is there a range of affordable housing in a top notch school district, but there is also a varity of housing styles. Westerville has a large area to work with, where as many other high end neighborhoods in Columbus have become landlocked. Olde Westerville has mainly older Victorian homes with a mix of ranches. Moving out from the city center there is a mix of tradition, modern, ranch and two story homes. If it is land you desire in many communities large lots are still available. Waterfront along Hoover reservoir is still very affordable, with a waterfront home starting in the 280's.
If it is a mix of art, community spirit, commerce and recreation that you are looking for in a new community then I think Westerville should be top on your list.
For more information please visit www.visitwesterville.org
Friday, October 31, 2008
Monday, October 27, 2008
The Seven things you should ask an agent in an interview
You have decided to list your home with a real estate agent. That is a wise choice. Now comes the tough part, who? You have a few agents in mind but you are not sure. An interview or listing presentation is an excellent way to find the right agent for your home. There are several things you need to look for in choosing an agent. Here are my top seven questions you should ask.
1. What did you do before you were an agent?
Ask this even if they have been an agent for 20 years. This goes to real life experience. It will also tell you their strengths. Someone with business or marketing experience will have different strengths then someone who was a teacher or cashier.
2. Why did you become a real estate agent?
Really listen to how they answer. You will want to someone who is passionate about their job change. Those are the individuals who will really pour themselves into selling your home.
Antecedent: When I was going through class I was amused by how many people dropped out in the first week. Our instructor began talking about commissions. He said straight out we were not making the full 6%. After he explained the breakdown two people stood up and walked out. Those are obviously not the people you want selling your home.
If all that motivates your agent is how much they are going to make they will not only overprice your home but spend less time and money advertising your home to buyers. They want to net more of the commission.
3. How are they going to market your home?
Have them give you a written plan with publications and dates. Then request that they send you copies of everything they do. If they refuse to, end the interview. You need to be in control of your home and its image at all times. By requesting copies of advertising you can do this. If an agent refuses they most likely are not placing the ads they say they are.
4. What is your percentage of sales?
How many homes they sold last year in comparison to how many they had listed is a much better judge then just the sales number alone. Just because an agent has a huge inventory doesn't mean they are a good agent. If they only have a 30% sales rate the chances of them selling your home are slim. Finding an agent that has a lower inventory, but a higher sales rate is better. Someone who sells 60-70% of listings is obviously better then someone who sells 30%.
5. Do you have a clean record?
Ask them if they have ever been disciplined by the Real Estate Commission. If they have ask for details. The last thing you want to do is sign a contract with a less than honest person. You can look this information up online as well. (The link is on my Links page)
6. Who is your broker?
What assets do they have access to within the brokerage. This is not to say the larger the brokerage the better. Many small brokerages have local appeal and attract buyers like flies to honey.
7. Trust your gut.
If you have doubts or if something doesn't mesh then move on and interview another agent. It is better to interview a hundred agents then to end up unhappy with one
1. What did you do before you were an agent?
Ask this even if they have been an agent for 20 years. This goes to real life experience. It will also tell you their strengths. Someone with business or marketing experience will have different strengths then someone who was a teacher or cashier.
2. Why did you become a real estate agent?
Really listen to how they answer. You will want to someone who is passionate about their job change. Those are the individuals who will really pour themselves into selling your home.
Antecedent: When I was going through class I was amused by how many people dropped out in the first week. Our instructor began talking about commissions. He said straight out we were not making the full 6%. After he explained the breakdown two people stood up and walked out. Those are obviously not the people you want selling your home.
If all that motivates your agent is how much they are going to make they will not only overprice your home but spend less time and money advertising your home to buyers. They want to net more of the commission.
3. How are they going to market your home?
Have them give you a written plan with publications and dates. Then request that they send you copies of everything they do. If they refuse to, end the interview. You need to be in control of your home and its image at all times. By requesting copies of advertising you can do this. If an agent refuses they most likely are not placing the ads they say they are.
4. What is your percentage of sales?
How many homes they sold last year in comparison to how many they had listed is a much better judge then just the sales number alone. Just because an agent has a huge inventory doesn't mean they are a good agent. If they only have a 30% sales rate the chances of them selling your home are slim. Finding an agent that has a lower inventory, but a higher sales rate is better. Someone who sells 60-70% of listings is obviously better then someone who sells 30%.
5. Do you have a clean record?
Ask them if they have ever been disciplined by the Real Estate Commission. If they have ask for details. The last thing you want to do is sign a contract with a less than honest person. You can look this information up online as well. (The link is on my Links page)
6. Who is your broker?
What assets do they have access to within the brokerage. This is not to say the larger the brokerage the better. Many small brokerages have local appeal and attract buyers like flies to honey.
7. Trust your gut.
If you have doubts or if something doesn't mesh then move on and interview another agent. It is better to interview a hundred agents then to end up unhappy with one
5 Key Changes to Add Value to Your Home and Not Break Your Wallet
1. Repaint rooms a neutral, tasteful color.
Bright colors often distract from the layout of the room and interfere with a buyer seeing your homes true beauty. Dark colors, like dark reds and blues often make small rooms feel even smaller and dark. Choose neutral tans instead of bright colors. Don't forget trim!
2. Clear out clutter!
I have seen more buyers pass on a perfect home because they could not get through the clutter. If you have things on the counters, floors, tables, etc rent a small storage space (some are as low as $50 per month) and pack away the mess. It will open up the room and make the home feel more inviting.
3. Do minor repairs
Don't leave that broken doorknob for the new owner to fix. Patch holes, fix doorknobs, and do all the little things that make a big difference.
4. Replace dated hardware and light fixtures.
Brass light fixtures are out. If it looks like something from grandmas house it wont help in the sale. Replacing cabinet pulls and door hardware with more modern accessories is an inexpensive way to make a room more modern.
5. Clean the carpets
I once toured a home that the carpets were so dirty they crunched. If your carpets are dirty and show wear and stains have them cleaned professionally. Dirty carpets often are a signal to buyers that you don't take care of the home. They ask, "what else could be in disrepair?"
Bright colors often distract from the layout of the room and interfere with a buyer seeing your homes true beauty. Dark colors, like dark reds and blues often make small rooms feel even smaller and dark. Choose neutral tans instead of bright colors. Don't forget trim!
2. Clear out clutter!
I have seen more buyers pass on a perfect home because they could not get through the clutter. If you have things on the counters, floors, tables, etc rent a small storage space (some are as low as $50 per month) and pack away the mess. It will open up the room and make the home feel more inviting.
3. Do minor repairs
Don't leave that broken doorknob for the new owner to fix. Patch holes, fix doorknobs, and do all the little things that make a big difference.
4. Replace dated hardware and light fixtures.
Brass light fixtures are out. If it looks like something from grandmas house it wont help in the sale. Replacing cabinet pulls and door hardware with more modern accessories is an inexpensive way to make a room more modern.
5. Clean the carpets
I once toured a home that the carpets were so dirty they crunched. If your carpets are dirty and show wear and stains have them cleaned professionally. Dirty carpets often are a signal to buyers that you don't take care of the home. They ask, "what else could be in disrepair?"
Thursday, October 23, 2008
Some Columbus Housing Facts
The following are provided by the Columbus Board of Realtors. You can find out more about our housing market by visiting their site at www.columbusrealtors.org
-2007 remains the 4th best housing market since the Columbus Board of REALTORS® began collecting statistics
-The central Ohio real estate market has experienced a 40% increase in home prices over the past decade, and that positive trend is expected to continue.
-Columbus is the 3rd most stable housing market, according to a study conducted in late 2007 by Forbes.com and MoodysEconomy.com. Researchers chose our market based on the strength of our economy, plans for construction, low foreclosure rates, the availability of the local credit markets, our high home sales rates, and the affordability and availability of housing.
Considering our healthy economy and job market, central Ohio housing is "undervalued," according to the Chief Economist of the National Association of REALTORS®. That's good news! It means that housing prices here are lower than what experts would expect them to be for such a healthy market.
-2007 remains the 4th best housing market since the Columbus Board of REALTORS® began collecting statistics
-The central Ohio real estate market has experienced a 40% increase in home prices over the past decade, and that positive trend is expected to continue.
-Columbus is the 3rd most stable housing market, according to a study conducted in late 2007 by Forbes.com and MoodysEconomy.com. Researchers chose our market based on the strength of our economy, plans for construction, low foreclosure rates, the availability of the local credit markets, our high home sales rates, and the affordability and availability of housing.
Considering our healthy economy and job market, central Ohio housing is "undervalued," according to the Chief Economist of the National Association of REALTORS®. That's good news! It means that housing prices here are lower than what experts would expect them to be for such a healthy market.
Saturday, October 18, 2008
Getting a Mortgage
6 Things to Know Before Applying For A Mortgage
1. Have A Down Payment
Most programs, FHA and others, require a 3% down payment. This down payment can come from other sources such as a 401k.
2. Know Your Credit Score
The better your score the better chances you have of getting a good rate. Paying bills on time and keeping your checking account balanced is one way of bringing your score up. Do not apply for every credit card offer that comes in the mail because too many creditor inquires into your report adversely affects your score.
3. Budget For Insurance Costs
You will need to pay one years worth of homeowners insurance at closing.
4. Determine What You Are Approved For Before Looking At Homes
Always speak to a lender or broker before going to look at homes. Getting a pre-approval letter will help you stay within your budget and show sellers that you are a serious shopper.
5. Organize Items Needed For Your Lender
Pay stubs for last 30 days
W-2's and Tax Returns
Last 3 months bank statements
6. Identify How Much You Can Afford Monthly
What are you paying now for rent? Is that affordable? Your housing payment should not exceed 28% of your gross monthly income.
For further information contact Raub Warner @ 614-339-1208
Hello and Welcome
Central Ohio News channels would like you to believe that the economy is bleak. This is not the case. The Columbus market is stable and is predicted to improve in the coming year. I am writing this blog to clear up some misconceptions which exist regarding the housing market in Columbus, Ohio.
Columbus, Ohio like most of the nation is currently in a buyer’s market. In a buyer’s market the inventory of homes for sale exceeds the buyer pool. When this condition exists it is an ideal time to purchase a first home or to find your “move up” home. Contrary to popular belief the foreclosure market is not the primary cause. According to the U.S. Census Bureau the home ownership rate in the 2nd quarter was 68.1%. RealtyTrac.com (http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=3664&accnt=64847) finds only 224,451 homes “in distress”. That’s less than 1% of the total homes owned in the United States.
In future posts I will examine topics such as foreclosure, steps to get a mortgage, the FHA guidelines, and state initiatives for home ownership.
Columbus, Ohio like most of the nation is currently in a buyer’s market. In a buyer’s market the inventory of homes for sale exceeds the buyer pool. When this condition exists it is an ideal time to purchase a first home or to find your “move up” home. Contrary to popular belief the foreclosure market is not the primary cause. According to the U.S. Census Bureau the home ownership rate in the 2nd quarter was 68.1%. RealtyTrac.com (http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=3664&accnt=64847) finds only 224,451 homes “in distress”. That’s less than 1% of the total homes owned in the United States.
In future posts I will examine topics such as foreclosure, steps to get a mortgage, the FHA guidelines, and state initiatives for home ownership.
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