Tag Archives: real estate market

Downsizing Tips – Ways to Make the Transition Easier

People choose to downsize or “right-size” their home for a number of reasons – simplify lifestyle, reduce housing costs, relocate to a new climate, the list goes on. Whatever your reason for wanting to make the transition to “smaller living,” considering the following tips to help make the lifestyle shift more manageable and less overwhelming.

downsizing-your-home2-1

Reimagine Where (and How) You Want to Live – If you have not finalized your next step yet, take some time to really think about what you want that next chapter to look like. Having a clear vision of where you are going will remove much of the uncertainty and allow you to focus on what needs to happen next.

Downsize Your “Stuff” – If you are moving to a smaller home, then you will not need as many things to fill it. And a clutter-free home definitely appeals more to buyers and sells faster. Before putting your home on the market, take some time to go through your personal and household items (even furniture) and be very selective about what you take with you. You may even decide that you want to have a whole new style in your new home!

Make Necessary Home Repairs and Improvements – Buyers do not like to work hard to envision themselves in your home. A home that is move-in ready and upgraded properly will always sell faster and for more money than one that requires a lot of work.

Don’t Go It Alone – Hire the Experts – The process of downsizing can feel a bit overwhelming. Take advantage of the amazing local resources available to help walk you through each step:

  • Realtor
  • Professional Organizer
  • Home Stager
  • Estate Sale Professional
  • Financial Consultant
  • Lender/Banker
  • Attorney
  • Mover

Want to learn more about the ins and outs of downsizing? We will cover these topics and more in detail at our free Downsize New Albany seminar on Oct. 19, 2016, at the Heit Center in New Albany. You’ll hear from a panel of local experts and have the opportunity to ask questions and pick up information about housing options and other services available in the area. Reservations are required. RSVP to info@newalbanyohio.com.

Can’t make it to the seminar, but still want to learn more? We would be happy to help! Contact us at 614-939-8944 or tonyt@newalbanyrealty.com, or visit us online at www.NewAlbanyOhio.com.

Now is a Great Time to Be a New Albany Home Seller!

Home SellingIf you’ve been thinking lately about entering the market anytime soon as a home seller in New Albany, I am here to tell you that recent market activity suggests that now is a great time to do so!

According to a recent article I was reading, home sales decreased 2.1 percent in central Ohio in 2014 compared with 2013.

While this might seem like bad news if you’re a seller, the overall market appeared to favor home sellers.

Continue reading to learn more!

A Closer Look at New Albany Area Home Sales Activity in 2014

Here’s an overview of real estate activity in Central Ohio in the last year, according to the Columbus Realtors trade group:

  • In central Ohio, 26,655 homes were bought/sold, which is 2.1 percent below 2013’s total.
  • Despite the drop, central Ohio’s median sales price increased 5.4 percent to a record $152,900.
  • Meanwhile, homes sold in an average of 67 days on the market, which is the fastest pace on record.
  • Home buyers benefited from continued low mortgage interest, which in turn created more home sales activity on the market.
  • At the end of the year, 7,170 homes were listed for sale in central Ohio, 18 percent below a year earlier.
  • At the current sales pace, that translates to a 3.1-month supply of homes, which is below the six-month supply considered a balanced market.

Meanwhile, here’s an overview of national and statewide real estate trends:

  • Statewide, home sales decreased 1.4 percent from 2013.
  • Still, statewide home prices increased 5 percent.
  • Nationally, home sales decreased 3.1 percent, but prices rose 5.8 percent to the highest level since 2007.
  • First-time buyers accounted for 29 percent of U.S. home sales in 2014, the same as in 2013.
  • The National Association of Realtors forecasts that sales will increase 8 percent in 2015

How Can We Help You With Your New Albany Home Selling Needs?

Please contact us, Kate & Tony Thomas, to further discuss how we can assist you with your home selling goals on the local housing market.

We would love to help you by answering any questions you might have as well as helping to determine the true value of your property.

Until next time,

Kate& Tony

Attention New Albany Buyers: You Simply Must Check Out Our Latest Listing!

Ackerly Farm New Albany Ohio 1If you’re in the market for a luxury New Albany Ohio home for sale, then I highly recommend you take a few moments to learn about our recent listing on the local housing market.

Located at 4585 Ackerly Farm Road, this gorgeous estate home boasts roughly 5,800 square feet of living space, including 5 bedrooms and 5.1 bathrooms.

This means that your family will not only enjoy plenty of room to grow but also plenty of privacy as well.

Listed at $925,000, this incredible home is not likely to stay available for long. Continue reading to learn more!

Countless Reasons to Fall In Love With Our New Albany Listing

Ackerly Farm New Albany Ohio 2The classic farmhouse exterior of this property certainly makes for an eye-catching first impression when you first drive up to this property.

The wonder and amazement continue when you step inside and take note of all the luxury amenities offered. For instance, this property (which is located just blocks from Market Street) boasts an expansive great room, a gorgeous chef’s kitchen with double islands and a stunning first floor owner’s suite.

But the incredible amenities don’t just stop there.

Tour this home and you’re also discover generous-sized walk-in closets, second floor laundry center and extensive trimming throughout.

Other features inside this home include:

  • Grand foyer
  • Built-in shelves
  • Fireplaces
  • Gorgeous private bathrooms

Meanwhile, the outdoor living area is exceptionally low-maintenance and includes a deck with steps to a lovely paver patio and outdoor fireplace – not to mention a built-in gas grill!

And did we mention this home has a three-car garage?

It’s All About Location, Location, Location!

Ackerly Farm New Albany Ohio 3Thanks to this home’s location within the Ackerly Park neighborhood of the New Albany Country Club community, you’ll live conveniently close to schools, the library and restaurants.

Plus, your children will be served by some of the best public schools in the area.

And excellent dining and entertainment options are just moments away as well! Now that’s an incredible location!

Interested in Purchasing This New Albany, OH Home?

If this home sounds like exactly what you and your family have been searching for on the New Albany OH real estate market, then I encourage you to contact us, Kate & Tony Thomas, today.

We’re your dedicated New Albany OH real estate experts and we would love to assist you by answering any questions you may have as well as scheduling a showing of this property.

Until next time,

Kate & Tony Thomas

Your Very First New Albany OH Real Estate Market Report for 2015

Home Buying 16If you’re a prospective New Albany area home buyer, then 2015 is certainly going to be a good year for you!

According to a recent New Albany real estate data report I was reading, the average price per square foot as well as the median sales price are both showing year-over-year decreases.

Translation? Now is a great time to get a great deal on a New Albany home for sale! Continue reading to learn more.

An Overview of the Current State of the New Albany Housing Market

Here’s are the most recent numbers from the local housing market:

  • Currently there are 190 homes for sale on the market, including 37 in some stage of the foreclosure process.
  • Between October and January, the average price per square foot for New Albany was $138, down 20.7 percent from the same period last year.
  • Meanwhile, the median sales price for homes was $318,000 based on 61 home sales.
  • Compared to a year ago, the median home sales price increased 0.2 percent, or $500.
  • And the number of home sales decreased 4.7 percent.
  • Broken down further, the median sales price for 2-bedroom homes here was$236,750.
  • The median sales price for 3-bedroom homes was $280,000.
  • And the median sales price for 4-beedroom homes was $369,500
  • During the week ending on Jan. 7, the average listing price for New Albany homes for sale was $512,556, down 2.5 percent from the week before.
  • During that previous week, the average listing price for homes here was $$525,000.
  • Broken down by size of the home, the average listing price for 2-bedroom homes here was $215,832
  • The average listing price for 3-bedroom homes was $382,8464.
  • And the average listing price for 4-bedroom homes was $476,422

How Can We Help You With Your Next New Albany, OH Purchase?

If you’re thinking about investing in New Albany real estate anytime soon as a home buyer, we invite you to take a moment to contact us, Kate & Tony Thomas, today.

We have years of experience helping home buyers just like you make their dream a reality and we’d be happy to do that for you as well by answering all of your lingering questions and telling you about available listings in New Albany.

We’ll also offer practical and expert advice that you won’t find anywhere else!

Until next time,

Kate & Tony

Speculative Data Center Coming to New Albany

New Albany data centerA new development is coming to this area and planners hope it will draw even more business to New Albany!

Evidently, Compass Data Centers recently picked our Central Ohio city as the location of its next speculative build.

New Albany Development May Help Boost Local Economy

According to a recent article I read, Compass Data Centers will construct a speculative data center in New Albany soon.

This means that the company has not secured a specific tenant to occupy any of the five data center pods that it plans to build.

While this may seem risky, the Compass CEO said the company is already working with local officials to attract clients, including tax incentives for future tenants.

According to plans, each tenant with receive a partial seven-year property-tax abatement.

The company will not start constructing the building until its secured at least one tenant – although it’s doing the footwork now so that once it signs a tenant, the company will be able to construct the building within six months.

The data center is expected to be between 10,000 and 21,000 square feet.

Company leaders say that they see a lot of promise in New Albany for the data center industry.

After all, there are several Fortune 1000 companies located here, including:

  • Limited Brands
  • Abercrombie & Fitch
  • TJ Maxx

Other businesses located in New Albany include Nationwide Insurance and Discover Financial.

Plus, as company officials noted, New Albany has a great supply of fiber infrastructure as well as available skilled workers – especially given the city’s proximity to Ohio State University.

Search Available New Albany Ohio Homes Now and Relocate Here!

It’s an exciting time for our city, which appears to be on the frontier of establishing itself as an ideal place for data centers.

Even if you’re not in that industry, the creation of this data center will further help diversify the local jobs market and help strengthen the economy.

If you’re interested in buying a New Albany home and living here permanently, please contact us, Kate & Tony Thomas.

When you do, we’ll be happy to provide you with straight-forward advice as well as valuable Central Ohio home buying tools like:

You may even want to start looking at specific New Albany neighborhoods, like:

Until next time,

Kate

 

New Albany, Ohio Real Estate Market Report for January 2013

Greeting from the New Albany, Ohio real estate market! We hope your new year is off to a fantastic start and that you’re finding it easy to stick to any resolutions you may have set.

Today, we’re going to tell you about recent activity on the New Albany, Ohio real estate market.

Right now, the data is suggesting that it’s a buyer’s market, given that the median sales price has declined year-over-year and the total number of home sales has only increased slightly.

New Albany Homes for Sale

Here’s a summary of recent activity on the New Albany, OH housing market:

  • Currently there are 148 homes for sale on the market, including 97 in some stage of the foreclosure process.
  • Between September and November, the average price per square foot for New Albany homes was $130, down 15.6 percent when compared to the same period last year.
  • Also during that time, the median sales price for homes was $227,900, based on 101 home sales.
  • When compared to the same period in 2011, the median sales price has actually decreased by 20 percent, or about $57,100.
  • Meanwhile, the total number of home sales has increased by 4.1 percent.
  • Broken down further, during the week ending on Dec. 26, the median sales price for a 2-bedroom New Albany home was 190,500
  • The median sales price for a 3-bedroom home was $223,750
  • And the median sales price for a 4-bedroom home in New Albany was $374,000
  • Here’s a look at how other communities compared when it came to median sales price:
    • Blacklick: $123,000
    • Gahanna: $137,500
    • Westerville: $160,500
    • Pataskala: $137,000
    • Whitehall: $45,000
    • Reynoldsburg: $89,250
  • During the week ending on Dec. 26, the average listing price for homes was $386,944, up 3.6 percent from the week before.
  • During that previous week, the average listing price was about $373,500.
  • Here’s how nearby Central Ohio communities compared in terms of average listing price:
    • Blacklick: $162,671
    • Gahanna: $205,922
    • Westerville: $246,375
    • Pataskala: $194,633
    • Whitehall: $106,070
    • Reynoldsburg:$129,961

Now is a Great Time to Purchase a New Albany, OH Home for Sale

If you would like to take advantage of the buyer’s market that’s currently characterizing New Albany, Ohio’s real estate market, then please contact us, Kate & Tony Thomas, today!

We’ll tell you about the various New Albany neighborhoods as well as let you know about the various New Albany home listings.

For now, please take a few moments to browse some of our online relocation resources, which include:

Until next time,

Kate & Tony

More Tips on How to Effectively Stage Your New Albany Home

Staging a home can make a world of difference when it comes to selling a Central Ohio home for sale.

When a home is staged properly, it makes it easier for the home buyer to envision living there.

Meanwhile, an improperly staged home may make the home seem smaller than it actually is.

If you’re a New Albany home owner who recently listed their home, we recommend you read today’s Central Ohio real estate blog to discover how you can effectively stage your home.

New Albany, Ohio Homes for Sale

Before you ever begin staging your home, it’s important to first clean and declutter your home.

Once you’ve done that, you’re ready to stage your home in such a way that make it look cleaner, larger, and more inviting.

Here are some tips from professional home stagers on how to stage your home the right way:

  • Arrange the furniture in such rooms as the living room in a grouping style known as a vignette.
  • Group items in units of 1, 3 and 5
  • Use fabrics that are appealing to the masses, such as silk and satin
  • Replace personal photos around the home with universally appealing images such as landscape art
  • Set out fake or real plants around the home to make it feel more inviting
  • Place a large fruit bowl in the kitchen with vibrant red apples, bright oranges, etc.
  • Use orange oil on dry cabinets to give them a nice polished look

As most home stagers will tell you, the key to home staging is to limit the number of bulky furniture in each room and to emphasize the details.

Here are some additional items that professional stagers often add to homes to dress them up:

  • Mirrors
  • Silk Flowers
  • Table Lamps
  • Area and Throw Rugs
  • Ottomans
  • Afghans
  • Baskets
  • And more!

Selling New Albany Ohio Homes

To discover even more tips on how to effectively market your New Albany home for sale, be sure to contact us, Kate & Tony Thomas, today!

As your Central Ohio real estate experts, we’ll be more than happy to provide you with helpful advice at every stage of the home-selling process.

In the meantime, you may also consider checking out some of the real estate resources that are available online now, including:

Until next time,

Kate & Tony

 

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

How To Set The List Price on Your New Albany Home

Determining the right list price for a New Albany home for sale is probably the single most important thing a home seller can do.

Here’s why: If the price is too high, buyers will not likely even take the time to consider your home.  If the price is too high, a Realtor may use your home to sell a similar but better priced home.

And since you have the most number of showings during the first couple of weeks after being listed, you won’t get those buyers back if you end up dropping the price several months down the road.

On the flip side, you don’t want to set your list price too low because then you may lose some of your potential profit.

As your New Albany real estate experts, we understand how important it is to set the right list price on your Central Ohio home and are here to help you find the best possible list price for your home.

Continue reading to discover our tips for getting your list price right the first time around!

Central Ohio Homes for Sale

The common mistake that many New Albany home owners make is setting their list price too high.

Home sellers will often feel justified in setting a high list price because of any one of these reasons:

  • They’ve invested in a number of home upgrades which they feel adds significant value to their home
  • They are trying to recoup their original price regardless of any change in the market.
  • They want that extra room to negotiate down the price if necessary

Unfortunately, by setting their list price too high, home sellers often end up shooting themselves in the foot.

Here’s what happens when your home’s list price is too high:

  • You won’t get an offer within the first few weeks of listing your home, which is the best time to sell your home
  • After a couple of weeks of being on the market, your home will get fewer and fewer showings because buyers will view your home as a stale listings. Thus, it will be that much harder to sell your home.
  • You will miss home buyers searching in the price bracket that your home really belongs because you set the price too high, causing your home to fall in a different bracket.
  • You’ll help your neighbor sell his home before you sell yours. That’s because buyers may look at the two comparable homes and see your neighbors home as a bargain next to your over-priced home.

Even when you decide to lower your home’s list price, you may be disappointed to find it doesn’t generate the interest you’d hope for.

That’s because buyers are more drawn to “New Listings” alerts than “Recently Reduced” alerts.

In fact, for some buyers, “Recently Reduced” alerts may say to them that something is wrong with your home, decreasing the chances that they’re willing to buy your home.

On the other hand, here’s when you know you’ve set the right list price on your New Albany property:

  • You sell your home quickly and with relative ease
  • Your home immediately gets a lot of scheduled showings, giving it more exposure
  • Plenty of Realtors call to gather information about your home for their home buyers
  • Your sales price is very close to what your original asking price was.

List Your New Albany Property for Sale Today!

Determining the right list price on your New Albany home can be a difficult thing to do, especially if you’re not working with experienced Central Ohio REALTORS like us.

So if you would like to sell your home in as little time as possible and for the best price possible, contact us, Kate & Tony Thomas, today.

While you’re at it, make sure to check out all of the incredible home selling resources we offer to sellers online, such as:

Until next time,

Kate & Tony

New Albany Real Estate Market Report for January

The last few weeks of 2011 proved to be a rather successful time for New Albany area home sellers, as evident by the most recent real estate data from Trulia.

Continue reading to learn more about the latest market trends in New Albany, Ohio and how it may affect you as a home seller.

New Albany Properties for Sale

Here’s an overview of the current state of the New Albany real estate market:

  • Currently there are 115 resale and new homes on the market, a historic low in New Albany School District.
  • Between October and December, the median sales price for homes in the New Albany School District was $422,800 which is up from the same period last year.
  • Here’s how nearby cities stacked up during that same period in terms of average sales price:
    • Gahanna Jefferson: $190,000
    • Westerville:  $178,500
    • Olentangy: $323,000
    • Dublin: $311,300
    • Upper Arlington:  $297,000
    • Bexley: $78,800
  • During the year ending December 31, the average listing price for New Albany homes was $554,500.

New Albany Homes for Sale

Knowing what homes are being listed for and what homes are selling for is just the tip of the iceberg when it comes to housing market activity.

For a more comprehensive overview of the current state of the New Albany real estate market – as well as where it’s headed in 2012 – contact us, Kate & Tony Thomas.

We’ll be happy to provide you with our expert advice on how to navigate the market as well as answer any questions you may have.

Until next time,

Kate & Tony