Tag Archives: columbus

Columbus, Ohio Makes Forbes Top 10 for Value

Your Dollar Goes Further in Columbus, Ohio 

An article caught my eye in a recent e-newsletter that I received from the National Association of Realtors.  On October 10th, Forbes magazine published a list of 10 cities where residents get the most for their money.  When I saw the headline I decided to read the entire article to see if by chance Columbus was listed.  Surprise, surprise…it was!  Several sources were used to make the determination including comparison of a city’s median home price and its median household income.  Projected job growth was also a consideration. 

Money goes further in some places in the United States than it does in others and New Albany, OH is no exception.  Housing remains more affordable in the Midwest and the South which helps to explain the cities that made the list.  Here is the list of 10 cities Forbes found that offer the best value. 

Cities Where Residents Get the Most for Their Money

  1. Austin, Texas
  2. San Antonio, Texas
  3. Indianapolis, Ind.
  4. Houston, Texas
  5. Charlotte, N.C.
  6. Columbus, Ohio
  7. Dallas
  8. Minneapolis/St. Paul
  9. Denver
  10. Portland, Ore.

Real Estate Optimism in Central Ohio

As I stated in our May e-Newsletter, there are many reasons to be optimistic about the housing market, not the least of which shows year to date unit sales in New Albany are up over the same period last year.  The Columbus Board of Realtors recently published a few other pieces of good news I’d like to share: 

  • “The Housing Crisis is Over,” says the Wall Street Journal, Op-Ed writer Cyril Moulle-Berteaux says in the May 6 edition, “How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won’t happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor.” Later in the piece, he says, “Even if home sales pick up, how can home prices stop falling with so many houses vacant and unsold? The flip but true answer: because they always do.” Mr. Moulle-Berteaux is managing partner of Traxis Partners LP, a hedge fund firm based in New York. Check it out »
  • A majority of Americans think now is a good time to buy a home according to a Reuters/Zogby poll released on April 16. Check it out >>
  • Columbus will boast the nation’s 8th fastest home sales rate in 2008, predicts Forbes.com and Moodys.com. They also predict that home prices here will increase 3.49%.  Check it out  >>
  • Columbus makes New York Post Travel Top 5:  New York Post author David Landsel reports on his top five travel destinations of 2007, and they include Budapest, Ontario, Venice, New Orleans, and Columbus. Check it out >>
    Columbus is the 9th most affordable place to “live well,” according to Forbes.com. Our city was given that honor based on our housing affordability, low cost of living, entertainment options, and overall quality of life. Check it out >>
  • If it weren’t for the growth of central Ohio’s seven counties, the state would have had a net population loss in 2007. Franklin County grew by 9,040 residents (or 0.8 percent of its population), and the six surrounding counties grew by 10,428 residents. Therefore, Ohio ended up with 3,404 more residents. (March 2008 – U.S. Census Bureau)
  • If it weren’t for the growth of central Ohio’s seven counties, the state would have had a net population loss in 2007. Franklin County grew by 9,040 residents (or 0.8 percent of its population), and the six surrounding counties grew by 10,428 residents. Therefore, Ohio ended up with 3,404 more residents. (March 2008 – U.S. Census Bureau)
  • Writer Kate Davidson of the Concord Monitor shares her good impressions of Jeni’s Ice Cream, The North Market, Downtown, and The Franklin Park Conservatory. Check it out  >>
  • We hear encouraging news every day about central Ohio’s rosy future. In early March Forbes.com, named Columbus the “NUMBER 1 Up-and-Coming Tech City.” Check it out >>
  • The job market in central Ohio is extremely bright, which is important for creating a continual flow of prospective home buyers. According to the Bureau of Labor Statistics, in the past 16 months central Ohio has seen more than 5,100 jobs created — 11,200 over the past 24 months.
  • Columbus is the nation’s 3rd most stable housing market, according to a study by Forbes.com and MoodysEconomy.com. Researchers chose us based on the strength of our economy, plans for construction, low foreclosure rates, local credit markets, home sales rates, and the affordability and availability of housing.  Check it out >>
  • Ohio placed #1 for landing industrial and corporate operations and expansions in 2007 according to Site Selection magazine. (3/08)  Check it out  >>
  • Columbus is acknowledged by the Washington Post as a “full blown metropolis” in an article that highlights the Topiary Garden, North Market, and the Columbus Zoo. Check it out  >>
  • The New York Times ran a travel feature titled “Columbus Cool” and recognized quite a few stores, restaurants, and art galleries throughout the Short North and beyond.  Check it out >>
  • The Detroit News says “Get set for a Columbus getaway.” This article encourages visitors to check us out. Check it out >>
  • Columbus is the 9th best city for blacks, according to Black Enterprise magazine. Check it out >>
  • The Chicago Tribune asks “Who knew Columbus was so cool?” What begins as a hotel review of The Lofts in the Arena District becomes praise for Nationwide Arena, The Convention Center, The North Market, and more.  Check it out >>
  • Columbus is the 19th Best City for Singles, according to Forbes magazine. Check it out >>

New Albany Classic Signature Series 2008 Schedule

The New Albany Classic Signatures Series is presented by the New Albany Company, New Albany Realty and the Wexner family through a grant to the New Albany Community Foundation. Additional details are available by calling 614-446-7100 or visit www.newalbanysignatureseries.com

Saturday, May 3
The Four Aces Fundraiser to benefit New Albany Students’ pursuits in Achievement through Academics, the Arts and Athletics

One Whitebarn Road

Thursday, May 21
The Homeless Families Foundation Benefit
8 Hawksmoor Road

Sunday, July 20
Music in Lambton Park featuring the Columbus Symphony Orchestra
Lambton Park

Sunday, August 17
Music at Market Square featuring the Columbus Jazz Arts Group and New Albany Chamber
of Commerce’s “Taste of New Albany” event
Market Square

Sunday, September 21
New Albany
Walking Classic
New Albany

Sunday, September 28
New Albany Classic Invitational Grand Prix & Family Day
One Classic Drive

Thursday, December 4
New Albany Community Foundation Annual Fundraiser: “A Remarkable Evening”
One Whitebarn Road

*Schedule subject to change, check website for updates.

2008 New Albany Home Sale Statistics – Not the picture the media would have you believe!

As I was reading the “Business Page” of the Columbus Dispatch on Tuesday, I was struck once again, with how totally local real estate actually is. The article I was reading indicated that the decline of sales in Columbus was not as bad as those reported by the Ohio Association of Realtors for the entire state of Ohio. I decided to take it one step further and look at New Albany specifically. The Ohio Association of Realtors reported that sales declined by 9.6% in Ohio and the Columbus Board of Realtors reported a 5.8% decline in home sales in February. New Albany unit sales in February were actually up slightly over 2007 and year to date are only 2 units off the 2007 pace. I’m not saying that we have seen the end of this challenging market but there is some good news and I think it’s important to share it!

National Real Estate News Is About As Useful As A National Weather Forecast

National Real Estate Scenarios Don’t Apply to Columbus, Ohio!

I just read an article from the Wall Street Journal’s “Real Estate Journal Today” – an online service sponsored by www.WSJ.com. The head line reads “Kimmel Home Listed for $81.5 Million“. That headline will definitely catch your attention, but is it really relevant in Columbus Ohio? I don’t think so. This article is perhaps good fodder for “Entertainment Nightly” but is in no way reflective of the actual real estate industry in New Albany, Ohio. The article goes on to talk about a home where a $3 million price reduction did not generate a sale.

The media would have you believe that since the luxury real estate market in Palm Beach, New York City, and Los Angeles is experiencing a necessary and significant correction, that it follows suit that we should experience the same correction in Columbus. When the Columbus Board of Realtors recently polled some of it’s members with the question “How’s the Housing Market”, one of the most perceptive responses came from Louise Potter with Keller Williams when she said:

“Our market is a matter of perspective vs. media spin. Interest rates are incredibly low and falling, 5.5% today, the supply is showing signs of realigning with demand and there are great opportunities to invest and own homes…the long term picture in our market is one of stability and conservative growth.”

As we know, not all markets in the country are seeing positive signs of a recovery but in New Albany, Ohio we don’t have a huge correction to recover from. As a matter of fact, I was recently working on a market analysis for a potential seller and in doing my research, there was only a 4.5 month supply of homes in their home’s price range which is very good news for that seller.

I guess my point is, get the local real estate facts as it applies to your home and don’t rely on the media for your information. Tony and I are always available to consult with and can help you put your home into the proper real estate perspective.

New Albany Neighborhoods