Archives: February 2010

REO = Bank Owned = New Albany Buyers Beware

What a New Albany Real Estate Deal?

Big Sale sign in red over white backgroundSo you found this incredible deal on a New Albany home that is owned by a bank, that’s great. But be aware that this will most likely be a very trying and difficult transaction.

Good news – Bad News

Good news:  the price is generally very advantageous.  Bad news:  almost everything else.  Response time from Seller’s side is like glacier movement.  Agent must contact REO management  company who must contact owner (Bank) and then answer must filter back through all the layers.  Continue reading

Racing for Tax Dollars

The Finish Line Is In Sight

42-15659276As we approach the April 30th in contract “finish line” in order to qualify for federal tax credit, things are really heating up.

Here at New Albany Realty, Kate and I have had one of the busiest Januaries on record and February is lookin’ the same.  With 1st time home buyers looking at up to $8,000 in tax credits and those of us that currently own homes eligible for up to $6500 you can bet the race is on.

Time is Running Out, …But It’s Not too Late to Join the RaceIts about Time Series II

If you’re thinking about buying or selling New Albany Real Estate, Now is the time.  There are some excellent opportunities out there right now for Buyers. Call us or check out our Home Finder at our web site. 

Sellers, it’s not too late for you to get in the race.  The historically low interest rates and tax incentives have more Buyers out looking in the 1st quarter that we can ever remember.  As always, we would be delighted to meet with you and give you a personalized market analysis of you home.  Just  contact us by email or give us a call, we’re here to serve you.

Now if it would just stop snowing!!!  Stay warm.

Columbus Housing Market Predicted to be Strong in 2010

Housing Predictor, an independent real estate forecasting service, has ranked the Columbus area 2nd in the country in the Best 25 Housing Markets. Ohioans should feel especially positive as the ranking lists Cleveland, Columbus and Cincinnati as the top three housing markets, respectively. Check out the article to review the Best 25 Housing Markets as forecast by Housing Predictor.

While I think it’s too early to know how accurate the prediction is, I can say that Tony and I saw a marked increase in real estate activity during January. The number of homes we put into contract exceeded our numbers from previous Januarys. There are 15% more homes “In Contract” in New Albany, OH than the same time last year which seems to substantiate my own observations.

The extended home buyer tax credit is probably responsible for a large part of the increase. Buyers (and NOT just first time buyers) have until the end of April to enter into a contract to purchase a home in order to qualify for the tax credit of up to $8000. Contact Tony or me if you have any questions about how the tax credit might impact you.

Until next time,

New Albany Neighborhoods