Tag Archives: ohio

A Look at A Prosperous Year for New Albany, Ohio

CalendarIf the last year is any indication, it’s never been a greater time to be a New Albany, OH resident.

After all, according to a recent article I was reading, New Albany experienced tremendous success during calendar year 2014. From new developments to a healthy local real estate market, there was certainly a lot to be proud of on the local housing market.

If you’re considering investing in real estate anytime soon in the New Albany, Ohio area, then we invite you to continue reading to learn about all that our wonderful community accomplished during the past year.

From New Developments to Real Estate, New Albany Prospered in 2014

As we previously noted, there were certainly a lot of time in the last year that residents were proud to call New Albany home.

For instance, in 2014, New Albany expanded its city-center landscape and added 1,600 jobs to its business parks.

Meanwhile, the intersection of Market and Main streets saw a dramatic transformation in 2014 thanks to the installation of a roundabout as well as the construction of a two-story 26,000-squrae-foot retail center at the northwest corner.

But this doesn’t even scratch the surface of all that was accomplished in 2014.

Here are some other positive developments that happened in our city during this time:

  • The two-story, 52,000-square-foot Phillip Heit Center for Healthy New Albany was constructed. This center is a huge economic booster for the city and even includes clinical space as well as community programming space.
  • The city added several new businesses to the community’s business parks and welcomed the expansion of others.
  • The city started several new business projects, including American Electric Power (which is expected to move its transmission headquarters to our town)as well as Bocchi Laboratories (which is expected to invest $18 million in a 130,000-square-foot facility)
  • Other new business projects included L Brands, Magnanni and Mission Essential.
  • Meanwhile, Anonmatic Corp., Capture Education and Knowlton Development Corp., announced plans to expand.
  • City leaders also partnered with the Central Ohio Transportation Authority to add a park-and-ride facility on Forest Drive, which opened Sept. 2.
  • The city also hosted a few new events in 2014, including the first Honor Ride Ohio as well as a series of triathlons called Challenge Day New Albany.
  • Meanwhile, the New Albany Police Department worked hard to make the city safer for all by using smartphone technology. MyPD allows users to receive tweets and updated information for the police department. The latest counts suggest that more than 400 residents have signed up for this app.

Now Do You See Why New Albany, OH is So Wonderful?

As you can see, our precious Central Ohio community really does have a lot going for it these days. It’s no wonder that this community is such a popular destination for home buyers.

If you’re ready to take that next step toward making this community your home, please make sure to contact us, Kate & Tony Thomas, today.

We will take the time to learn what exactly you’re looking for in a New Albany home and then we’ll work hard to find the right fit for you.

Until next time,

Kate & Tony

Luxury Home Flipping On the Rise

New Albany home renovationsThere’s a new trend on the national housing market that may even be impacting activity on the New Albany, Ohio real estate market.

Evidently, a recent Reuters article reported that more people are flipping luxury housing.

House flipping entails buying a home, refurbishing it, and selling it at a profit. In the past, this activity has mostly been relegated to the lower priced market but now, it looks like it’s happening on the luxury home market as well.

New Albany Real Estate Trends

According to the recent article was reading, more investors are lending money to flippers on high-end properties.

The article told one man’s story who purchased a California home in December 2012 for $1.5 million. The man invested $600,000 in renovations and now will list the property for $3.295 million.

This is not strictly a California phenomenon either.

According to national statistics, house flipping in the $1 million and up price range rose nearly 40 percent between 2011 and 2013.

Here’s what else the data reveal:

  • Between 2011 and 2012, high-end flipping increased 456 percent in Phoenix (from 27 to 150 properties ); 867 percent in Orlando (from 3 to 29 homes); and 630 percent (from 10 to 73 homes) in Las Vegas.

To be considered a house flip, a home has to be bought and sold within six months.

Experts say that the improved economy is encouraging house flippers to enter the market once more.

That’s because house flipping at such a high price range is more risky than the standard hour flip. Thus, these individuals are looking for more reasons to feel confident than the typical flipper.

Your New Albany Ohio REALTOR

It will be interesting to see just how much this luxury home flipping trend grows and what kind of impact, if any,  it will have on New Albany.

After all, our community is well known for its luxury properties in such communities as:

If you’re interested in investing in a luxury New Albany home anytime soon, please contact us, Kate & Tony Thomas, today.

We’ll be happy to assist you by offering you valuable home buying advice, telling you about available home listingsand providing you with such resources as:

Until next time,

Kate & Tony

New Albany, Ohio Makes Plans for New Park in the City

New Albany parkLikely to the delight of all of our young families living here, there may be a new park coming to the New Albany Ohio area.

According to a recent article I read, New Albany Mayor Nancy Ferguson has publicly said that she wants the city to consider adding a park at the northeast corner of Main and High streets.

Living on the Central Ohio Real Estate Market

Evidently, the New Albany Company donated the land where the new park would go in 2007.

New Albany Co. is one of the area’s largest developers.

The city owns three parcels in that corner of the city and developed a veteran’s memorial there back in 2009.

Although the city had plans to developer passive park space with seating there around that same time, the economic downturn put the brakes on that plan.

Then, in 2012, the city council made moves to start planning the park again – but such preparations would have cost $7,500 and nothing ever happened.

Now the mayor is pushing for the city to move forward with plans for the park.

Meanwhile, the city is bringing several more improvements to the immediate area, including new street lights and sidewalks, brick curbs approved by the Americans With Disabilities Act, a new turning lane and on-street parking.

All of those improvements are expected to cost the city $1.8 million.

We’ll keep you posted on any new developments with this proposed park on the Northeast corner of Main and High Streets. It really would be a great addition to our city!

Relocating to New Albany, Ohio

As the city continues to invest in such projects as road improvements and municipal parks, quality of life is sure to get even better in our community.

If you’re interested in purchasing your own New Albany Ohio property, please contact us, Kate & Tony Thomas.

We’ll let you know about available listings, provide you with expert advice and also offer you such home-buying resources as:

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

 

Questions to Ask Before Buying a New Albany Home

Are you an interested New Albany home buyer who’s ready to start searching the Central Ohio real estate market for your dream home?

If so, then you’ve come to the right place!

Today, we’re going to tell you about the important questions that you as a home buyer should ask throughout the New Albany real estate transaction process.

Continue reading for these invaluable home buying tips! Continue reading

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

Tips for When It’s Best to Purchase a New Albany Resale Home

Last time, we shared with you some of the advantages and disadvantages of owning a new construction New Albany home.

Today, we’ll continue the series by telling you about the pros and cons of owning a resale home on the New Albany real estate market.

Investing in New Albany, Ohio Real Estate

Although it may seem that buying a new construction home would be the superior investment, there are actually plenty of reasons why home buyers choose resale homes instead.

Here are some of the advantages of buying a resale home:

 

 

  • You’ll be able to enjoy a yard with lush landscaping and established trees immediately.  When you buy a new construction home, you’ll likely have to invest in the initial landscaping yourself.  Not only can that be costly, but it can also be years before you can fully enjoy the fruits of your investment.  If you prefer to live somewhere that already has a canopy of trees overhead and lush landscaping, resale homes are the way to go.
  • You may inherit some appliances and window treatments from the previous owner.  Often times, home buyers successfully bargain with sellers to throw in the fridge or washer and dryer with the purchase of the home.  You may not have that bargaining option with a new construction home.

 New Albany Resale Properties

Yet, home buyers should be aware that there are also some drawbacks to buying an existing property.

Here are some of the disadvantages that you should know about before entering the New Albany real estate market:

  • You may be investing in an outdated floor plan. Like anything else, the trends that dictate the housing industry change over time.  Dated floor plans may prove to be less convenient or efficient than more modern layouts.
  • You’ll have to pay to get your home inspected. Because you aren’t the only person who has ever lived in the home, you’ll want to invest in getting your home inspected for mold, plumbing and wiring issues and more at some point.
  • Eventually you’ll have to buy all-new appliances.  While it’s great that sellers will often throw in their appliances with the purchase of the home, those appliances will eventually get to old to use.  That means that at some point down the road, you’ll have to foot the bill for all-new appliances.

Your New Albany REALTORS

We hope that you have found our series on new construction versus resale homes helpful as a home buyer.

After all, the sooner you can narrow down the search for your dream New Albany home, the more time and money you’re likely to save in the process.

When you’re ready to take that next step toward investing in New Albany real estate, contact us, Kate & Tony Thomas.

As your Central Ohio real estate experts, we’ll be happy to answer any questions you may have and offer you such invaluable home buying tools as:

Until next time

Kate & Tony

 

Tips for Buying a New Albany, Ohio Home

CNN Money recently published its Top 10 Home Buyer Checklist.

Since we found the list quite helpful and relevant, we wanted to share it with you.

If you’re a New Albany home buyer, continue reading to discover what every home buyer should know before entering the Central Ohio real estate market.

Investing in New Albany Real Estate

Here are some of the facts that CNN Money said every home buyer should know before investing in a New Albany home:

  • Plan to Stay in Your New Home for at least a Couple of Years.  Given the cost of buying and selling a home, it may not be cost effective to own New Albany real estate if you just plan on leaving after a year or so.  Thus, plan on living there for at least a few years to get the most out of your investment.
  • Make Sure Your Credit is in Good Standing.  Unless you’re independently wealthy, you’ll likely have to take out a mortgage to buy your next home.  You want your credit to be good to ensure you get the best rates possible.  Consider requesting a copy of your credit report a few months before you enter the housing market to make sure all the information is accurate.
  • Start Looking in the Right Price Range from the Get Go.  By being realistic about the price range you can afford early on, you’ll ultimately save yourself a lot of time and heartache.  One general rule of home buying is to only look at homes that are 2.5 times your annual salary or less.
  • Even if you can’t put 20 percent down, you may still qualify for a loan.  Many public and private lenders out there will offer low-interest mortgages for down payments as small as 3 percent.
  • Consider Which Schools Your Neighborhood is Zoned For.  Even if you don’t have children, it’s important to pay attention to the schools for which your home is zoned.  That’s because this will help determine how easy it is for you to resale your home down the road.  In addition, quality schools in the area help to increase home values.  Check out which New Albany School information by checking out our New Albany School Report Card.

Your New Albany REALTORS

Join us next time as we reveal the second half of CNN Money’s Top 10 List of Things Every Home Buyer Should Know.

For more tips on how to effectively navigate the New Albany real estate market, make sure to contact us, Kate & Tony Thomas.

As your New Albany REALTORS, we’ll be happy to answer any questions you may have as well as offer you our expert real estate advice.

Ready to start searching for your dream New Albany home today? Check out some of our user-friendly search options:

Until next time,

Kate & Tony Thomas

 

 

New Albany, Ohio Real Estate Market Report for November 2011

The New Albany, Ohio real estate market saw a lot of changes during the last couple of months, according to the most recent data from the real estate website Trulia.

Evidently, both home sales and home sales prices have been on the rise lately.

Continue reading to learn more about the latest trends on the New Albany housing market, and how they may affect you as a New Albany home buyer.

New Albany Homes for Sale

Here’s an overview of the current state of the New Albany real estate market based on recent market data:

  • Currently there are 286 homes for sale.
  • Between August and October 2011, the median sales price for a New Albany home was $305,000, which represents an 18.4 percent increase when compared to the same period last year.
  • Last year, the median sales price was $257,500.
  • During the week ending on November 2, the average price per square foot for a New Albany property was $157, which represents a 33.1 percent increase when compared to last year.
  • During that same week, the average listing price for homes was $394,553, which is a 1.8 percent decrease when compared to the week before.
  • Here’s how nearby markets stacked up in terms of average listing prices during that same week:

– Gahanna, Ohio: $195,597
-Westerville, Ohio: $246,323
-Pataskala, Ohio: $188,683
-Whitehall, Ohio: $109,092
-Reynoldsburg, Ohio: $138,261

This recent market data suggests that now is a great time to be a New Albany home buyer.  As the number of home sales continues to rise, so will sales prices.

Thus, if you’re looking to get a great deal on a New Albany property for sale, then we recommend you enter the market soon.

Investing in Real Estate

As your New Albany real estate experts, we believe that knowledge is power.  That’s why we work hard to provide interested home buyers with the most up-to-date market information each month.

That way you have a realistic and comprehensive view of the current state of the market, which will ultimately make you a savvier home buyer.

If you’d like to learn more about how we make navigating the market easier for New Albany home buyers every day, contact us, Kate and Tony Thomas, today.

We’ll be happy to answer any questions you might have as well as provide you with such helpful real estate tools as:

Until next time,

Kate & Tony

Sunny Skies Should Continue in New Albany, Ohio

Home Sales Up 29% YTD in New Albany

I just pulled the Year-to-date statistics for home sales in New Albany and was very pleasantly surprised at how strong they are.  Through May, 2011, 124 single family homes have sold in the New Albany Plain Local School District versus 96 sold through May in 2010.  This is a remarkable 29% increase in homes sold this year over last.  TY/LY sales for the Greater Columbus area are down 16%.

Need Homes to Sell to Sustain Trend

With this leap forward in home sales, and a large inventory of homes currently in contract, New Albany is positioned to have a truly excellent year.  The only stumbling block that I see right now is if the low number of homes for sale is not replenished.  Inventory levels are off significantly.  In order to sustain the current trend, it’s time for the “don’t have to sell, but want to sell” sellers to re-enter the market.   If you fit that description or are a “have to sell” seller, then we want to talk with you!  Call or email us today.

New Albany Neighborhoods