Archives: November 2008

Upcoming Local Community Events

December 1-6

New Albany Cares Week-New Albany High School Eagle Ambassadors. Food collection to benefit-Mid-Ohio Food Bank ~ Drive thru on Sat. Dec 6th from 8:00- 12:00 at the bus loop between the high school and middle schools. 

December 4 

A Remarkable Evening New Albany Community Foundation, New Albany Signature Series For ticket information call Hinson Ltd 416-7100

December 5

Junior League Kick Off Party, 464-2717, 7-10 p.m., New Albany Ballet Company. Tickets: http://www.jlcolumbus.org/. $75 each, includes admission to tour.

December 6

It’s a Wonderful House Holiday Tour of Homes 464-2717   10:00 a.m.-4:00 p.m. Tickets $20 Advance; $25 at door. http://www.jlcolumbus.org/   All proceeds fund Junior League of Columbus Charities. 

December 7

Holiday Celebration at Market Square 855-4400   www.newalbanychamber.com “Ring in the Season” 1-5 p.m. Train rides, crafts, cookie decorating, Visits with Santa, Jingle Bell Horse & Buggy Rides, Caroling & tree lighting at 4:30 p.m.

December 10

TechStart, New Albany Country Club, Free Networking event 5:30-7:30 p.m. 487-3700. Register http://www.techcolumbus.org/

Dec. 11th & 13th

Hayley Gallery – Jewelry trunk show at 45 Second St. NA http://www.hayleygallery.com/ 855-4856

December 12-14

“Nutcracker 2008” Presented by the New Albany Ballet Company ~ 939-9058 

December 13

Kids Holiday Toy Drive-Kick off Plain Township Fire Department ~ firedept@plaintownship.org. 855-7370

December 18

Chamber’s Annual Holiday Salute at the Hilton at Easton 11:30 a.m. $25 per person. http://www.newalbanychamber.com/

December 21

3 p.m. Holiday Pops Concert at the McCoy Center With the New Albany Symphony http://www.newalbanysymphony.com/ 

Dec. 31

Hayley Gallery Artist Opening Reception & 2nd Annual New Year’s Eve Party FREE Featuring mixed media artist Kim Thanasiu 9:30 p.m.till ? 45 Second St. NA 855-4856 http://www.hayleygallery.com/

Coming Up Short in the Real Estate Market

Today’s shifting economy has created some hardships and heartache within the real estate market, even in New Albany, Ohio.  You may have heard the term “short sale” being used lately with regards to real estate.   Many are unfamiliar with what a short sale is.  The “short” in short sale refers to a situation where the debt owed on a property is more than the current market value of the property.  In order for a property to transfer to a new owner, the seller’s lender needs to agree to accept less than is owed on the home. 

Short Sale vs Foreclosure

A short sale can be a way to prevent a foreclosure which is advantageous to both the seller and the lender.  The advantages to a short sale include a negotiated settlement with the bank and without attorneys or a court appearance.  The seller’s credit is “bruised” but not ruined and you can buy a home again in two years.  A short sale inevitably saves the lender money over the cost of the foreclosure process often making it the best solution for all parties. 

How Can Kate & Tony Help?

It’s important to have an advocate working for you – someone you can trust who will assist you through the bureaucracy of the mortgage industry.  We have counseled and assisted numerous clients through this process.  It’s a time consuming process but resolving this in the pre-foreclosure period is far more desirable than dealing with foreclosure.  It allows a seller to get on with their lives.  Tony and I welcome your questions.  Please contact Kate or Tony Thomas for a private consultation if you or someone you know finds themself needing to consider a short sale strategy.  You aren’t alone – we can help.

October 2008 YTD New Albany Real Estate Market Update

Despite what the pundits would have you believe, homes are selling!!! Year to date in New Albany, unit sales are only slightly off of 2007. October was the first month this year where unit sales of single family homes in the Plain Local School system fell significantly below 2007 figures. 20 homes sold during October in New Albany this year versus 29 homes that sold in October 2007. We will continue to watch it and keep you informed of all the changes we see in the market.

Stay tuned…the market will fully recover. That said, it’s important to keep everything in perspective. Let us know if you want to know the value of your home right now. We have some new cool software that gives you a very complete snapshot of what is happening in your neighborhood. We’d love to share it with you.  Contact Kate & Tony today. 

 
Neighborhood
Active
Listings
In
Contract
Sold
Sep 08
Sold YTD
Sept 08
Sold YTD
Sept 07
Average
$/Sq.Ft
 Ave.
DOM 
The Preserve 21 1 2 23 34  $    109 138
Albany Park 10 0 0 7 13  $    116 146
Windsor 9 3 0 9 9  $    114 90
Hampsted Village 21 10 6 44 24  $    119 121
New Albany Links 36 6 4 28 24  $    119 150
Tidewater/Enclave * 9 0 0 5 4  $    158 238
NACC < $1 million 65 5 3 49 57  $    156 170
NACC > $1 million 35 3 2 17 18  $    222 230
Total Plain Local
School District
267 36 20 239 238  $    133 145

*Includes Tidewater, Saunton, Enclave, & Wentworth

All data compiled is from the Columbus Board of Realtors YTD October 2008 MLS.