Tag Archives: increase

New Albany Ohio Real Estate – 2010 Recap

New Albany Beats the Averages!

You don’t have to look too hard for some encouraging real estate news in New Albany from last year.  Overall, prices stabilized and unit sales were up 13% over the 2009 numbers versus a 5% decrease in unit sales in the entire Columbus Board of Realtors.  As you will see in the chart below, some neighborhoods faired a little better than others.  The New Albany Links and New Albany Country Club communities significantly improved in units sold but lost a little ground in sales prices while The Preserve and Albany Park saw improvement in sales prices. 

It’s early to predict where 2011 will take us but there appears to be some good pent-up demand by both Buyers and Sellers based on the number of phone calls that Tony and I are receiving.  If you are one who has chosen to remain on the sidelines these past few years, this is a good time to consider jumping back in!  As a seller, the inventory is low compared to previous years.  As a buyer, prices and interest rates remain low (though showing signs of increasing).  Call us to discuss your particular situation.  The chart below is the Year End results for New Albany, Ohio.  If your neighborhood is not included, just let us know.  We will send you the comparable information for your neighborhood. 

New Albany 2010 Year End Review

                 
Neighborhood Active In Sold Sold Sold Ave ’10 Ave ’09 Ave
  Listings Contract Dec ’10 2010 2009 $/Sq Ft $/Sq Ft DOM
The Preserve 16 2 26 31 $103 $103 79
Albany Park 1 2 3 5 9 $104 $101 83
Windsor 7 2 2 12 7 $103 $108 70
Hampsted 13 3 2 30 35 $111 $115 83
NA Links 25 4 1 40 29 $110 $122 133
New-CCollege* 7 0 0 8 3 $128 $138 342
NACC < $1M** 54 9 5 74 62 $147 $150 151
NACC > $1M 24 1 1 17 10 $208 $220 260
Tot Plain Local                
School District 187 28 20 289 254 $119 $118 131
                 
*    Includes Tidewater, Saunton, Enclave and Wentworth        
**  Includes NACC and The Reserve            
                 

Stay in touch and we’ll do the same!  Kate & Tony Thomas

Franklin County Auditor Confirms Zero Increase in Tax Valuation This Year!

Tony and I returned from vacation on Sunday. On Monday, I tackled a mountain of mail being held by the post office. The item I was most interested in was the notice from Joe Testa’s office (Franklin County Auditor) announcing the proposed valuation of our home for 2008. Yours was probably just like mine – it shows no increase in valuation from 2007.

2008 is the year for the triennial update of property valuation in Franklin County. While we saw gains in the local real estate market in both 2005 and 2006, we’ve basically given it all back in 2007 and 2008. As a result, property valuations will remain at their previous level rather than increase as they usually do every 3 years. This should mean a zero tax increase for homeowners. However, New Albany has several levies on the ballot in November which will raise taxes slightly but the increase will be based on the valuations set 3 years ago.

Because there have been some dramatic shifts in the real estate market, you may still feel that your home is overvalued. If so, there is an opportunity to meet with representatives from the auditor’s office during the next month to discuss your valuation or to petition for a reduction in your home’s valuation. The review in New Albany will take place Thursday, August 28th at Church of the Resurrection, 6300 E Dublin Granville Road, New Albany, 2pm – 8pm. Call the auditor’s office at 614-462-4663 to schedule a time for your review.

Please let us know if you would like our office to provide you comparable sales information that you might use to justify a reduction. We are happy to do that as a service to our clients as well as to those who may become new clients some day! You can call me at 614-939-8945 or by email at katet@newalbanyrealty.com.

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!

New Albany Neighborhoods