Archives: July 2012

How to Make an Offer on a New Albany Home in a Buyer’s Market

Are you a Central Ohio home buyer searching for your dream home on the New Albany real estate market at a bargain price?

If that’s the case, then today’s New Albany real estate blog is just for you!

Below, we’ll explain the most effective way to make an offer on a home in today’s economic climate.

If you follow our tips, we guarantee that you’ll walk away with an incredible deal on a beautiful Central Ohio home that exceeds even your expectations!

Continue reading to learn more.

Investing in a New Albany, OH Home for Sale

As you probably already know, the current economic climate has created a buyer’s market in many parts of the country.

This means that supply currently exceeds demand and homes are staying on the market longer before sellers find a buyer.

What’s more, home sales prices are must lower than they were a couple of years ago because sellers are becoming increasingly willing to lower the list price in order to sell their home.

This puts interested home buyers in a great position to get a real deal on a New Albany home.

Here are some tips on how to write an offer on a Central Ohio home:

Check out Recently Reduced Homes. Most home buyers want to offer less than the asking price on a home that they like. This may not always be an effective strategy, especially if the home was recently listed.

More than likely, home sellers will dismiss your offer in hopes of getting a better price for their home with another buyer. But if you apply the same low-ball strategy to a Recently Reduced home or a home that’s been on the market for more than 30 days, you may experience more luck. Since these homes have been on the market for an extended period of time, the owners may be more willing to bargain with you in order to sell the home.

Look at Comparable Sales in the Area. Once you’ve found your dream home, compare it with similar homes in the neighborhood that have sold within the last six months. Compare such pertinent data as square footage, age, lot size, number of bedrooms and baths, sales price and more. You can use this information to determine what your offer price should be for the home you’re interested in.

Ask for Contingencies. Contingencies are a great way to ensure that you get the best possible outcome on this real estate deal. Make the sale of the home contingent upon you securing a loan or the home in question passing a rigorous inspection. In a buyer’s market, it’s much more likely that home sellers will be willing to work with such contingencies.

Minimize Your Closing Costs. In a more balanced housing market, the buyer would pay for the title insurance, property taxes, escrow and recording fees. But in a buyer’s market, the home buyer is in control. So why not try to reduce your closing costs by requesting that the seller pays for these items?

Request an Allowance or Credit. As we’ve said before, the buyers are the ones that have the upper hand in a buyer’s market. So don’t set your sights too low. If you’ve found your dream home and everything is perfect except for the lack of hardwood floors in the kitchen, then request that the seller give you an allowance to replace the kitchen tiles with hardwood flooring. You can even request more than the actual cost to replace the flooring, for instance, by citing the labor involved with doing it. Check with your lender to see what’s allowed when it comes to allowance requests.

Use an Item in the Home as a Bargaining Tool. When it comes time to write an offer, request that the seller include their living room furniture or their kitchen table, even if you don’t want those items to begin with. When you do this, it gives you some room to negotiate with the seller. The seller may not be willing to part with these personal items but they may end up reducing the sales price to appease you.

Set the Time Limit for Accepting Your Offer and Stick with It. Usually, 24 hours is more than enough time to give a home seller to decide whether to accept your offer or not. If you give them much more time than that, they’ll have more time to talk with the Peanut Gallery about whether it’s a good offer or not. So maintain a short acceptance period and stick with it.

Buying a Central Ohio Home Has Never Been Easier!

For more expert advice on the most effective way to navigate the New Albany real estate market as a home buyer, contact us, Kate & Tony Thomas, today!

We’ll help you at every stage of the home-buying process, including:

  • Narrowing down your home search
  • Making an offer on a home
  • Ensuring a seamless closing process
  • And more!

Until next time,

Kate & Tony

The New Albany Ohio New Home Real Estate Market

 Builders Ready To Build in New Albany!

It’s been a while since we’ve seen much new construction activity in the New Albany Community. However, as the real estate market improves, we are seeing more builders interested in starting spec homes and developers opening new sections of existing neighborhoods. MI Homes has released new sections for sale in both Windsor and Lansdowne. The New Albany Company has released estate lots in the last section of the New Albany Country Club community, called Highgrove on the West Nine golf course. And just today, custom builders snatched up 8 lots to build spec homes in another New Albany Country Club community, Ackerly Park.

New Build Options in New Albany

Right now, there are lots of building options in the following New Albany neighborhoods:

    • Windsor – new section just released by M/I Homes in their maintenance free community
    • New Albany Links – Romanelli & Hughes and Tuckerman Home Group have lots available both on and off the golf course
    • Tidewater – Duffy Homes, Romanelli & Hughes and Fischer Homes have lots to build on in this beautiful treed community
    • Saunton – Ambassador Homes is the primary builder in this small New Albany neighborhood across from NA Links
    • Wentworth Crossing – Rockford Homes and Tuckerman Home Group are gearing up to get this long awaited neighborhood underway
    • New Albany Country Club Neighborhoods– New Albany Realty along with Kate & Tony Thomas are the exclusive marketing agent for most lots available for sale in the New Albany Country Club communities.

The Largest Concentration of Lots for Custom Building Can be Found In:

    • Ackerly Park  – site of the 2010 Parade of Homes in the Village Center offers great options for building the home of your choice
    • Waterston – located right across from the country club, this neighborhood is almost complete but there are lots still available.
    • Highgrove – new estate home community surrounded by the golf course and connected to the club
    • Lansdowne – a custom patio home community being developed by M/I Homes has a new section about to open
    • Ealy Crossing – both patio homes and single family homes can be built on the lots being sold by Duffy Homes and New Albany Realty

Kate & Tony Thomas, New Albany, New Construction Experts

Kate & Tony Thomas with New Albany Realty are new construction experts and are available to assist you with all facets of the building process. We will consult on site selection and negotiating a lot purchase, assist in choosing a builder and/or architect, selecting a floorplan and choosing finishes for it. Whatever you need. If you decide not to build, we will help you in your home search in New Albany or the Greater Columbus Area. We look forward to hearing from you. Call or email Kate & Tony today.

The Best Way to Market Your New Albany, Ohio Home for Sale

In today’s housing market climate, the way you market your home on the New Albany real estate market can either make or break your efforts to sell your home.

That’s because it’s such a competitive market right now! There are plenty of New Albany homes listed on the market right now and if you fail to attract the attention of qualified buyers, another home seller is sure to.

Below, we’ll provide you with several Dos and Don’ts when it comes to marketing your Central Ohio home. Continue reading to learn more!

Selling Your Central Ohio Property

Here are the Dos of marketing your New Albany home:

  • Do upload plenty of photos of your home
  • Do provide plenty of information about your home in order to encourage the buyer to schedule a showing
  • Do provide refreshments for prospective home buyers showing your home, such as bottle water and cookies.
  • Do be flexible with when agents schedule showings of your home.
  • Do include buyer incentives, such as a home protection plan or a buy-down mortgage interest rate.
  • Do make use of print advertising, such as in the Sunday classifieds section of the local newspaper.

And here are some Don’ts when it comes to marketing your home:

  • Don’t take pictures of your home in poor lighting and then upload them to your listing page
  • Don’t take pictures of cluttered rooms that make your home look smaller than it is
  • Don’t forget to include important and relevant information on your listing page
  • Don’t turn down agent previews of your home since an agent is more likely to sell a home he’s previewed beforehand.
  • Don’t put up obstacles to agents showing your home, such as a 24-hour notice requirement or restricted hours to show.
  • Don’t forget to include a virtual tour of your home, which will help the buyer fall in love with your home before they ever step food in it.

 List Your New Albany Home for Sale Today!

For more helpful advice on how to effectively market your Central Ohio property, contact us, Kate & Tony Thomas.

We’ll tell you about the comprehensive marketing plan we provide to sellers as well as answer any questions you may have.

We also invite you to take some time to check out our various home-selling resources online, such as:

Until next time,

Kate & Tony