Archives: January 2008

Good Real Estate News For A Change!

It’s no secret that real estate and banking have been in the news for all the wrong reasons during the past 12 months. Yesterday, we received great news from our preferred lender, Scott Miller, at National City Mortgage.  Interest rates are at long time lows right now.   Yesterday, the rates for a 30 year fixed rate dropped to 5.49% and the rate for a 15 year fixed mortgage dropped to 4.99%. According to The New York Times, most economists don’t believe rates will decline much more in the near future.

We’re not sure if we will see another time in the next 10 years where extremely low interest rates are coupled with lowered home prices.   This unusual alignment of low interest rates and low sale prices makes for a very opportunistic time to BUY a home, particularly if you would like to trade up to a larger home.   If you are planning on SELLING, the lower rates allows more people to qualify to purchase your property…producing a larger potential pool of buyers.

Tony and I would love to talk to you about any questions you may have about your current home or the market in a neighborhood that interests you.  Just call us or email us to arrange a confidential consultation.  We look forward to hearing from you.

New Albany Links Home Sold in 2007

Built around an 18 hole “links style” golf course designed by Barry Serafin, New Albany Links continues to offer executive homes in one of New Albany’s most sought-after neighborhoods. This community offers all the amenities of country club living including a neighborhood swimming pool, Har-Tru tennis courts, fitness center, a beautiful clubhouse with excellent dining facilities, and of course, golf! 30 homes sold in New Albany Links this past year at an average sales price of $390,000. It took an average of 143 days on the market (DOM) to sell these homes and the average price per square foot was $130. The average List to Sales Price ratio was 96.5%. In 2006, 38 homes sold in New Albany Links at an average sales price of $372,000 and average DOM of 137.

Homes Sold in New Albany Links in 2007:

*This representation is based on data supplied by the Columbus Board of REALTORS® or it’s MLS from 2006.  Data maintained may not reflect all activity in the real estate market.

Hampsted Village Homes Sold in 2007

A year end review shows that while the real estate market slowed down in 2007, is it may not be the doom and gloom picture painted by the national media.  In fact, Forbes Magazine recently ranked Columbus as the 3rd most stable housing market of the 40 largest American cities. In Hampsted Village, the average 2007 sales price was $358,800, compared to 2006, where the average sales price was $355,891. The biggest difference in comparing 2006 to 2007 is the amount of homes sold: 56 in 2006 and 30 in 2007. Unit sales in New Albany overall were off by about 10% over 2006 while the average sales price fell about 6%. The good news is that beautiful Hampsted Village continues to not only be a great place to live, but also holds value in the market place.

Homes Sold in Hampsted Village in 2007:


*This representation is based on data supplied by the Columbus Board of REALTORS® or it’s MLS from 2006. Data maintained may not reflect all activity in the real estate market.