Archives: June 2015

Report: US Housing Market Experienced Fantastic Gains This Spring

construction 4We just love having the opportunity to share with you good news about the US housing market and this is one of those weeks!

Evidently, according to a recent article we were reading, sales of newly built homes as well as home prices in general saw some great increases during the month of April, further demonstrating that the housing market continues to improve.

If you’re considering buying or selling real estate anytime soon, we encourage you to continue reading to learn more about this exciting development.

What You Should Know About the National Housing Market

Here is some of the most pertinent information you’ll need about the current state of the housing market:

  • New home sales increased 6.8 percent from March to April, to a seasonally adjusted annual rate of 517,000.
  • The median price of a new home sold in April was $297,300, up 8.3 percent from the year before.
  • Meanwhile, the Standard & Poor’s/Case-Shiller Home Price Index increased 4.1 percent in the 12 months that ended in March.
  • Supplies of existing homes remain tight and home builders are still slow to start construction on new project.
  • So far in 2015, builders have constructed just more than 1 million housing units, which is not too much different from 2014.
  • The construction pace increased some in April and actually hit the best level it’s seen since November 2007.
  • Also so far in 2015, monthly sales of new homes have average 515,000.
  • Meanwhile, new home purchases have been up 26.1 percent over the last year.
  • The housing market in April had 4.8 months of supply of new homes, although this is still short of the six months inventory that experts consider a balanced market.
  • New home sales represent about a tenth of all home purchases.
  • Historically, new home sales peaked in July 2005, when they hit an annual pace of almost 1.4 million.
  • Sales bottomed out in February 2011 at 270,0000 units.

Experts attribute steady job growth, historically low interest rates and rising rental costs and key catalysts for the recent improvements on the national housing market.

They have also noted that they believe that the US needs construction of at least 1.5 million new homes a year in order to keep up with the growing population as well as the average loss of existing stock each year because of age.

We’re Your Dedicated Real Estate Experts!

We hope you found the above data as encouraging as we did. The market definitely continues to improve month after month and the memory of the housing market crash continues to fade overtime. This is great news for everyone!

Check back here next time for more valuable information on the current state of the housing market and how it may impact your efforts as a buyer or seller.

Great News New Albany Buyers: Stunning Home for Sale in Lambton Park!

Biddick New Albany 1There are certain New Albany neighborhoods that are always popular among home buyers and Lambton Park is definitely one of them!

After all, this community is located within the coveted New Albany Country Club and boasts and excellent location within the exemplary New Albany Plain Local Schools District.

What’s more, this community has a reputation for offering residents an excellent sense of community.

Thus, buyers reading our blog today are sure to be thrilled to discover that there’s now a new listing available in Lambton Park. Continue reading to learn more!

This Lambton Park Home Listing Has It All!

Biddick New Albany 2Located at 7217 Biddick Court, this impressive home features 7,596 square feet of living space, including 6 bedrooms and 6.2 bathrooms.

This gorgeous brick home boasts a long list of luxury amenities, including a gourmet island kitchen with granite counters, stainless steel appliances, hall pantry and a light-filled breakfast room.

Other impressive features you’ll discover when you step inside this home include:

  • A cozy wood-paneled den with wet bar
  • Living room with marble fireplace
  • 4 bedroom suites, each with a private bath and walk-in closet
  • A spacious mother-in-law suite over the 3 car attached garage.

Meanwhile, the nearly half acre lot is beautifully landscaped for shade and privacy and even features a brick patio overlooking the backyard.

And here’s an added perk to living here: It boasts an ideal location that’s just 2 miles to Market Street as well as New Albany High School.

This home is currently listed at $1.18 million, which is truly a bargain when you consider all of the features it comes with.

We’re Your Dedicated New Albany REALTORS

Biddick New Albany 3If this sounds like exactly the kind of community you’ve been dreaming of as a home buyer, then please take a moment now to connect with us, Thomas &  Company, your dedicated New Albany real estate experts.

We would love to assist you by answering any questions you might have, providing valuable insight on this home for sale and even scheduling a showing for you!

Until next time,

Thomas & Company

Middleton House – A Granville Property w/ Plenty to Offer Buyers!

Columbus New Albany 1We have exciting news to share with you form the Granville real estate market! We recently listed The Middleton House, located at 2256 Columbus Road.

This remarkably unique, historic estate sits on an impressive 43-plus acres, which overlooks the surrounding hills and valleys of Granville.

This home is truly remarkable. And it can be yours for just $1.85 million.

If you’re in the market for a new Granville home, we invite you to continue reading to learn more about what this home has to offer.

Live the Good Life in This Granville Home

Columbus New Albany 2Originally built in 1915, this English Country-style residence served as the original site of the Granville Literary and Theology Institution. It also serves as a guest house and conference center for Denison University.

Today, this stunning white home on Columbus Road features 6 bedrooms and 5.2 bathrooms.

Step inside this 7,150-square-foot home, and you’ll discover an endless procession of incredible amenities.

These include:

  • A grand foyer with 2-story ceilings, elegant carpeted stair and custom arched window.
  • A light-filled living room with wood-burning marble fireplace and built-in cabinetry.
  • A family room and adjacent office/den, each with a fireplace.
  • An elegant formal dining room with original oak wood paneling, built-in leaded glass cabinetry, tiled fireplace and bay window.
  • A completely renovated gourmet chef’s kitchen, which includes a custom island w/built-in breakfast table and prep area, white Carrarra marble countertops, Sub-Zero refrigerator/freezer & Wolf gas stove with double oven and so much more.

And that’s just the main level. On the first upper level, buyers will discover four bedrooms with private bathrooms, an impressively spacious master suite with seating area and more.

Columbus New Albany 3And on the second upper level, they’ll be impressed with the large recreation room with adjacent media room and the fifth bedroom and hall bath.

Meanwhile, the lower level of this breathtaking estate features an exercise room, walk-in wine cellar and more.

The marvel that is this Granville home doesn’t stop when you tour the exterior of the property either.

With 43-plus acres, buyers will discover a tranquil oasis that’s perfect for relaxing, playing and entertaining guests.

There’s even an equestrian barn with 9 stalls, a tack room, open hay mow, fenced pasture and a fully-renovated Caretaker’s Quarters with a kitchenette, fireplace, bedroom and bath.

There’s also a four-car detached garage with extra storage as well as a 25-car paved parking lot and motor court on the property. Wow!

Feel Like Royalty When You Purchase This Granville Home

Truly, this home is a modern day palace! And you could be its next king or queen.

Contact us, Thomas & Company, today if you’re interested in receiving more valuable information about this property or if you’d like to schedule a showing. We would love the opportunity to assist you!

Until next time,

Thomas & Company

3 Reasons You’ll Love With This Lambton Park Home Listing in New Albany, OH

Stannage New Albany 1Are you looking for a gorgeous and stately home that commands respect the second you pull up to the driveway? Do you want to live in a residential neighborhood that boasts a strong sense of community – not to mention a great location near public schools?

If so, then we encourage you to check out our new home listing at 3994 Stannage Pass in New Albany.

Located in the Lambton Park neighborhood, which is located close to the New Albany Country Club, this home truly has it all!

Continue reading to discover the top three reasons why you’re sure to fall in love with this property.

Why New Albany Home Buyers Will Love This Property

Stannage New Albany 2This gorgeous, all-brick 10,825-square-foot estate home is sure to go under contract soon. After all, consider all that it has to offer!

Here are the top three features buyers will love about this home:

  • This home sits on 0.96 acres, giving residents plenty of privacy and tranquility.
  • It’s living room is perfect for entertaining, complete with built-in shelves and a gas fireplace.
  • The finished lower level offers media room, full kitchen, 1200 bottle wine room, gym, 5th bedroom suite and huge storage area.

More than that, however, this home also boasts deluxe bathrooms, a four-car garage and gorgeous backyard views.
Other amenities that will impress residents include:

  • Hardwood floors
  • Gourmet kitchen
  • Expansive bedrooms
  • Subzero/Wolf appliances
  • Fully-stocked butler’s pantry
  • Coffered ceilings
  • Private deck off master suite
  • Spacious walk-in closets

What’s more, this home is served by the New Albany Plain Local Schools District, which is award-winning and nationally ranked.

Is This The New Albany Home You Want to Own?

Stannage New Albany 3This home truly one of New Albany Country Club’s most remarkable homes!

If you’re ready to take that next step toward making it your own, please make sure to connect with us, Thomas & Company.

We’re your dedicated New Albany, Ohio, real estate experts and we would be happy to help you at every stage of the home buying process.

Until next time,

Thomas & Company

US Housing Market Well Positioned for Busy Summer Home Buying Season

home buying 20The summer months should be quite busy for home buyers, sellers and real estate agents alike!

As we head into June, real estate analysts are saying that the national housing market is poised for a successful (and busy!) summer home buying market.

Several factors are at play, experts say, including low housing inventory, pent up demand and increasingly optimistic sellers.

One thing’s for sure: The next few months should be very interesting from a national housing market perspective!

What Every Buyer and Seller Should Know About Market Activity

According to the latest sales figures released by the National Association of Realtors, sales of previously owned homes increased in March by the most in four years.

In fact, purchases increased 6.1 percent to a 5.19 million annualized rate, which is the highest level it’s been since September 2013.

On average, homes were being purchased in 52 days on average, which is the fastest sales rate the country has seen since July.

Here are some more highlights from the latest data report:

  • The share of first-time buyers increased slightly while distressed properties made up a smaller part of the market
  • The number of homes for sale increased in March for a second month.
  • In fact, that gain was the biggest since December 2010.
  • Figures from the Mortgage Bankers Association showed that the group’s index of purchase applications increased in recent weeks to the highest level since June 2013.
  • The Standard & Poor’s 500 Index increased 0.5 percent to 2,107.96 recently, which is within 12 points of a record high.
  • More sellers expressed confidence about buyers entering the market as the weather warms, further helping to increase the supply of properties for sale.
  • In fact, the number of existing properties for sale increased 5.3 percent to 2 million in March from a month earlier.
  • And sellers’ instincts about buyer interests appear to be spot on. For instance, 40 percent of homes sold in March were on the market for less than a month.
  • The median price of an existing home jumped 7.8 percent from March 2014 to March 2015, to $212,100. That’s the most since February 2014.
  • Meanwhile, the cost of a purchased house was 5.4 percent higher in February from the same time last year, which is tied with May 2014 for the biggest gain.
  • Purchases increased in all four U.S. regions, led by a 10.1 percent increase in the Midwest. They were up 6.9 percent in the Northeast, 6.3 percent in the West and 3.8 percent in the South.
  • Sales of single-family homes rose 5.5 percent to an annual rate of 4.59 million, which is the most it’s been since August 2013.
  • Meanwhile, closings on multifamily properties (including condominiums) increased 11.1 percent.
  • Purchases of distressed properties represented 10 percent of the total, which is down from 11 percent in February.
  • Also, the average rate for a 30-year fixed mortgage was 3.67 percent recently. The rate was 3.59 percent in February, which was the lowest in almost two years.

One Small Concern is On the Minds of Experts

Experts did express concerns about how fast home prices were rising, which they credited in part to low housing inventory. Thus, economists said the best way to fix that is to increase the supply of homes for sale on the market.
It will be interesting to see if enough sellers enter the market in the next couple of months to temper those price increases.

We’re Your Real Estate Market Experts!

We hope you have found the information above as insightful and encouraging as we did. Seeing the national housing market recover is definitely a welcome sight!

Please check back here soon for more updates on the state of the housing market. We’re confident that having this knowledge will help you make savvier decisions as a buyer or seller.