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.