Archives: May 2008

Get Your New Albany Home Sold…Now!

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 predicted. But not today.

Today’s buyers want it all – a great location, excellent condition and a price that is too good to resist! There is enough inventory on the market that a buyer will pass on a home with wallpaper, a dated kitchen, or flooring in need of replacement. Most buyers will not even look at a home that they perceive to be priced unrealistically. To a buyer, an overpriced home indicates an unmotivated seller.

Price is still the key but the location and condition part of the equation are factors that must also be considered when setting the asking price. Currently, there are more homes than buyers for those homes. When Tony and I are determining the best possible price for a home, we will identify the 3 homes that offer the most competition and then recommend that the home be priced in front of them. We do not want to “test the market” or “follow the market down.” Rather, we want to “lead the market.

This pricing strategy doesn’t guarantee that a house will be the next home sold but it sure will increase the likelihood of it being shown to potential buyers. It has to be shown to sell. Once you have an offer, you can accept, counter or reject it. But at least having an offer, puts you (the seller) in charge.

Find out how actual selling prices compare to listing prices in your neighborhood by getting an instant MLS Market Snapshot.

Real Estate Optimism in Central Ohio

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 Moulle-Berteaux says in the May 6 edition, “How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won’t happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor.” Later in the piece, he says, “Even if home sales pick up, how can home prices stop falling with so many houses vacant and unsold? The flip but true answer: because they always do.” Mr. Moulle-Berteaux is managing partner of Traxis Partners LP, a hedge fund firm based in New York. Check it out »
  • A majority of Americans think now is a good time to buy a home according to a Reuters/Zogby poll released on April 16. Check it out >>
  • Columbus will boast the nation’s 8th fastest home sales rate in 2008, predicts Forbes.com and Moodys.com. They also predict that home prices here will increase 3.49%.  Check it out  >>
  • Columbus makes New York Post Travel Top 5:  New York Post author David Landsel reports on his top five travel destinations of 2007, and they include Budapest, Ontario, Venice, New Orleans, and Columbus. Check it out >>
    Columbus is the 9th most affordable place to “live well,” according to Forbes.com. Our city was given that honor based on our housing affordability, low cost of living, entertainment options, and overall quality of life. Check it out >>
  • If it weren’t for the growth of central Ohio’s seven counties, the state would have had a net population loss in 2007. Franklin County grew by 9,040 residents (or 0.8 percent of its population), and the six surrounding counties grew by 10,428 residents. Therefore, Ohio ended up with 3,404 more residents. (March 2008 – U.S. Census Bureau)
  • If it weren’t for the growth of central Ohio’s seven counties, the state would have had a net population loss in 2007. Franklin County grew by 9,040 residents (or 0.8 percent of its population), and the six surrounding counties grew by 10,428 residents. Therefore, Ohio ended up with 3,404 more residents. (March 2008 – U.S. Census Bureau)
  • Writer Kate Davidson of the Concord Monitor shares her good impressions of Jeni’s Ice Cream, The North Market, Downtown, and The Franklin Park Conservatory. Check it out  >>
  • We hear encouraging news every day about central Ohio’s rosy future. In early March Forbes.com, named Columbus the “NUMBER 1 Up-and-Coming Tech City.” Check it out >>
  • The job market in central Ohio is extremely bright, which is important for creating a continual flow of prospective home buyers. According to the Bureau of Labor Statistics, in the past 16 months central Ohio has seen more than 5,100 jobs created — 11,200 over the past 24 months.
  • Columbus is the nation’s 3rd most stable housing market, according to a study by Forbes.com and MoodysEconomy.com. Researchers chose us based on the strength of our economy, plans for construction, low foreclosure rates, local credit markets, home sales rates, and the affordability and availability of housing.  Check it out >>
  • Ohio placed #1 for landing industrial and corporate operations and expansions in 2007 according to Site Selection magazine. (3/08)  Check it out  >>
  • Columbus is acknowledged by the Washington Post as a “full blown metropolis” in an article that highlights the Topiary Garden, North Market, and the Columbus Zoo. Check it out  >>
  • The New York Times ran a travel feature titled “Columbus Cool” and recognized quite a few stores, restaurants, and art galleries throughout the Short North and beyond.  Check it out >>
  • The Detroit News says “Get set for a Columbus getaway.” This article encourages visitors to check us out. Check it out >>
  • Columbus is the 9th best city for blacks, according to Black Enterprise magazine. Check it out >>
  • The Chicago Tribune asks “Who knew Columbus was so cool?” What begins as a hotel review of The Lofts in the Arena District becomes praise for Nationwide Arena, The Convention Center, The North Market, and more.  Check it out >>
  • Columbus is the 19th Best City for Singles, according to Forbes magazine. Check it out >>

New Lots Available in Ackerly Park!

If you’ve been thinking about building a new home in New Albany, now is your chance! The New Albany Company is soon to announce the creation of the New Albany country club’s newest community – Ackerly Park. Ackerly Park will be an extension of Upper Fenway with Ackerly Farm road extending north and meeting up with Market Street. The majority of the 27 lots will be priced between $150,000 and $165,000 and range in size form .29 – .42 acres.

New Albany Realty will be kicking off the sale of the new lots with a preview event May 14, 2008. This is an “invitation only” event. If you are interested in receiving an invitation to attend the event and learn more about the lots available at Ackerly Park, please email me at katet@newalbanyrealty.com.

Whether you plan to buy or not, it’s nice to be “in the know!”

New Albany Classic Signature Series 2008 Schedule

The New Albany Classic Signatures Series is presented by the New Albany Company, New Albany Realty and the Wexner family through a grant to the New Albany Community Foundation. Additional details are available by calling 614-446-7100 or visit www.newalbanysignatureseries.com

Saturday, May 3
The Four Aces Fundraiser to benefit New Albany Students’ pursuits in Achievement through Academics, the Arts and Athletics

One Whitebarn Road

Thursday, May 21
The Homeless Families Foundation Benefit
8 Hawksmoor Road

Sunday, July 20
Music in Lambton Park featuring the Columbus Symphony Orchestra
Lambton Park

Sunday, August 17
Music at Market Square featuring the Columbus Jazz Arts Group and New Albany Chamber
of Commerce’s “Taste of New Albany” event
Market Square

Sunday, September 21
New Albany
Walking Classic
New Albany

Sunday, September 28
New Albany Classic Invitational Grand Prix & Family Day
One Classic Drive

Thursday, December 4
New Albany Community Foundation Annual Fundraiser: “A Remarkable Evening”
One Whitebarn Road

*Schedule subject to change, check website for updates.