Archives: January 2011

New Albany Home Buyers Eliminate Many Homes For Sale

I recently read a blog article by Linda Craft, a member of our CKG Coaching Network, that really resonated with me.  I want to share a few of the high points.  Home buyers shop for a home differently than most sellers think.  Our Greater Columbus real estate market tends to favor buyers.  As a result, today’s Buyers are looking to eliminate houses they view instead of choose them.  

Eliminate a Home versus Choose a Home 

Today’s buyer has many choices of homes to choose from and has the ability to preview as many as their time allows.  Using the internet, buyers can preview and “eliminate” hundreds of homes for sale.  As they view these homes, they are looking for reasons to eliminate it from their list.  The reasons are varied – they may think it needs too much work, is too small, don’t like the color it’s painted, etc.  The reality is that the house may be a good fit for them and the reason they choose to eliminate it from the list could be easily rectified.  

So What Are Buyers of New Albany Homes Looking For?

 Today’s Buyer will continue their search for the “perfect” house – the one they don’t need to do anything to but move right in. They prefer updated finishes in the kitchen, baths, and choice of home hardware.  They prefer neutral décor, brightly lit and uncluttered rooms. 

When preparing to list a home, Kate & Tony provide Sellers with a complimentary consultation with a professional stager to help make the home “buyer ready.”  We want to give buyers looking at your home a reason to choose and not eliminate. To discuss preparing your home for in more detail, just contact Kate & Tony Thomas, your New Albany real estate experts at info@newalbanyohio.com.

New Albany Real Estate Market Improves for 2010

Three Key Metrics All Positive

A look at a few key metrics tell the story.  New Albany real estate is on the rebound.  While first portion of 2010 was driven by tax incentives and first time home buyers, we really just “borrowed” future sales from July and Aug to hit the June 30th deadline.  We were really pretty flat through mid 3rd Quarter 2010.  Then we had a good finish and pushed ahead of 2009 in these important areas:

Traffic & Sales…Up

 

 

In 2010, 302 homes closed in New Albany vs 272 the previous year.

Median Sale Price …Up

 

The median sales price for homes sold in New Albany increaded from $283,000 in 2009 to $308,000 in 2010.

Median Days on Market…Down

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The median home in New Albany was on the market for 88 days in 2010 – in 2009, it was on the market 104 days.

So what’s all this mean to me?

Well if you are a Buyer trying to time the market (if you can do this, let me and my financial advisor know asap) we may well be seeing the bottom.  If you are a Seller, you may be encouraged that the worst may be behind us.  In any event, if you want to buy or sell a New Albany home, now is the time and Kate & Tony are the ones to help.  Let us show you how Kate & Tony’s service and results make them the market leaders in New Albany Real estate.

P.S. You can also just search the MLS yourself to see how your home compares…

Tax Time Approaches!

Tax Time Approaches!

I have committed to getting our income tax information organized and to the accountant before Tony and I leave for a short trip to Florida on February 24th!  This is a full 6 weeks ahead of when I typically have it ready – if you aren’t good at math, I normally deliver our information to our tax preparer around April 10th and hope he has time to complete it before the 15th!

Charitable Donation Valuation Guides

The New Albany Chamber of Commerce included a Charitable Donations Valuation Guide in their last newsletter.  It was a good reminder that I need to calculate the value of the clothing and household items that we’ve donated over the past year.   I tend to stick to a very conservative estimate to avoid instigating an audit.  However, the tax benefit is valuable and well deserved so I maintain good records and take photographs as well.

For clothing and household items, I use the Salvation Army Valuation Guide. It shows a low to high range.    There are lots of other sources – just google “charitable donation valuation guide”.  I’ll let you know if I am successful in getting everything done by the 24th!  Wish me luck!

New Albany Ohio Real Estate – 2010 Recap

New Albany Beats the Averages!

You don’t have to look too hard for some encouraging real estate news in New Albany from last year.  Overall, prices stabilized and unit sales were up 13% over the 2009 numbers versus a 5% decrease in unit sales in the entire Columbus Board of Realtors.  As you will see in the chart below, some neighborhoods faired a little better than others.  The New Albany Links and New Albany Country Club communities significantly improved in units sold but lost a little ground in sales prices while The Preserve and Albany Park saw improvement in sales prices. 

It’s early to predict where 2011 will take us but there appears to be some good pent-up demand by both Buyers and Sellers based on the number of phone calls that Tony and I are receiving.  If you are one who has chosen to remain on the sidelines these past few years, this is a good time to consider jumping back in!  As a seller, the inventory is low compared to previous years.  As a buyer, prices and interest rates remain low (though showing signs of increasing).  Call us to discuss your particular situation.  The chart below is the Year End results for New Albany, Ohio.  If your neighborhood is not included, just let us know.  We will send you the comparable information for your neighborhood. 

New Albany 2010 Year End Review

                 
Neighborhood Active In Sold Sold Sold Ave ’10 Ave ’09 Ave
  Listings Contract Dec ’10 2010 2009 $/Sq Ft $/Sq Ft DOM
The Preserve 16 2 26 31 $103 $103 79
Albany Park 1 2 3 5 9 $104 $101 83
Windsor 7 2 2 12 7 $103 $108 70
Hampsted 13 3 2 30 35 $111 $115 83
NA Links 25 4 1 40 29 $110 $122 133
New-CCollege* 7 0 0 8 3 $128 $138 342
NACC < $1M** 54 9 5 74 62 $147 $150 151
NACC > $1M 24 1 1 17 10 $208 $220 260
Tot Plain Local                
School District 187 28 20 289 254 $119 $118 131
                 
*    Includes Tidewater, Saunton, Enclave and Wentworth        
**  Includes NACC and The Reserve            
                 

Stay in touch and we’ll do the same!  Kate & Tony Thomas