Real Estate Review: April 2017

Columbus is on the rise in many ways - technology, development, the housing market, population and more! We are officially the #14th largest city in the nation, trailing San Francisco by just 10,000 residents. In the rankings for Ohio's largest cities these Columbus communities dominated the top of the list:

#1 COLUMBUS, up 9.3 percent to 860,090.
#2 Hilliard grew by 6,470, or 22.8 percent, to 34,905.
#3 Grove City grew by 4,146, or 11.7 percent, to 39,721.
#4 Delaware grew by 3,890, or 11.2 percent, to 38,643.
#5 Dublin grew by 3,817, or 9.1 percent, to 45,568.

It's such an exciting time to be in Columbus, Ohio! My husband Jesse, who is a local business owner STORE 5a, and I are very involved in the community and love supporting other business owners and organizations. In April, we celebrated Rowe Boutique's 10 Year Anniversary in the Short North, attended Startup Storytellers at CMA, Impact Social for Stonewall at Venue 614, Buckeye Lifestyle's launch party for their latest issue featuring Shawn Cunix at The Toybarn and The Short North Gala!

Here are the national real estate statistics for April 2017:

The number of projected home sales dipped to 5.5 million, however the national median home price had an increase of .5% to $228,400, which is up 7.7% from April 2016. The national average for a 30 year fixed rate mortgage is up slightly to 4.23% still considered historically low and helping to incentivize buyers in this sellers' market! For specific questions on how these statistics affect you, please get in touch with me!

The median list price of new listings for central Ohio homes and condos during the month of April was $199,950, an 8.1 percent increase over April 2016 and a 1.0 percent increase from March. This is a new record high according to according to the Columbus REALTORS® Multiple Listing Service.

There were 3,543 central Ohio homes and condos added to the market in April, which is a 5.1 percent increase over March, although a 10 percent decline over the same month a year ago.

This left inventory at 4,338 which was almost three percent higher than the previous month, but is still just over 19 percent lower than a year ago and has fallen year-over-year for 75 straight months. Unsold inventory is at a 1.6-month supply at the current sales pace (unchanged from the last three months).

The 2,479 central Ohio homes and condos sold during the month of April slipped 2.1 percent from the previous month, and 10.9 percent from April 2016.

“Last month marked the first dip in home sales in nine months,” Gordon said. “There’s little doubt that the number of home sales would have been higher had we had more inventory.”

— 2017 Columbus REALTORS® President Mic Gordon

Homes spent an average of 40 days on the market in April, which is 6 days fewer than March and 12 days less than April 2016.

The averages sale price of a home in April was $215,246, an increase of 7.1 percent over the same month a year ago and 5.6 percent above March.

“If you’ve considered putting your home on the market, now is the time to do so as the warmer temperatures and longer daylight hours stimulate even greater buyer activity,” added Gordon.”

During the month of March, central Ohio homes and condos spent an average of 46 days on the market, which is 6 days fewer than February and 13 days less than March 2016.

When asked about reasons transaction haven’t closed in the past year, 53 percent cited inspection issues and 30 percent cited issues rising from appraisals.

---

Article shared and all information sourced via the Columbus Board of Realtors. To view the original and for more info see below: 

Current housing report – April 2017
All housing reports

Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.

Real Estate Review: March 2017

The real estate market is insane right now and Columbus is NO exception! Don't just take my word for it, Columbus made the Forbes list of Where to Invest in Housing 2017 and was #5 on Realtor.com's list of Top 10 Cities Where Downtown Is Making a Comeback not to mention the statistics I've compiled for you below.

Low inventory is still the biggest issue in the market, if you have been thinking of selling there COULD NOT BE a better time. Not sure what your home is worth? I've got you covered, click here for a complimentary, no pressure, personalized estimate. If you are planning on buying, I'll be honest it can be tough right now. However, with the right planning and real estate agent in can be done and with low interest rates it's still a great time!

My client testimonial for this blog is extra personal and I'm very excited to share that my husband Jesse and I purchased our first home in Clintonville! The journey to buy our own home is actually how I met my wonderful mentor Bruce Dooley and became a REALTOR®. After helping so many other people find their homes, I was ecstatic to finally be the buyer. We put in many offers along the way and beat out 8 offers to get in this particular home, but it was SO worth it!

Here are the national real estate statistics for March 2017:

The number of projected home sales rose from 5.5 million to 5.7 million! The national median home price had a slight decrease of 1.9% to $228,900 which is great for buyers. Thinking of selling? The great news for you is that the median home price is up 7.1% from this same time last year, so if you've been waiting now is the time! The best news for everyone is that the national average for a 30 year fixed rate mortgage is down from 4.19% in February to 4.15% making it an excellent time to get a loan and keeping the market moving. For specific questions on how these statistics affect you, please get in touch with me!

There were 2,531 central Ohio homes and condos sold during the month of March, a solid 50.8 percent increase over February and a 3.9 percent increase over the same month a year ago. 

This was the highest number of home sales on record for the month of March as well as the highest sales for the 1st quarter according to the Columbus REALTORS® Multiple Listing Service.

The average sale price of a home in March was $203,924, up 6.8 percent from one year ago and 7 percent from February. The median sales price was $170,000 a 4.3 increase over March 2016. 

The average sales price is the total volume divided by the number of homes sold. The median is the midpoint -- half the homes sell for less, while half sell for more.

“The record home sales that we’re seeing is a direct reflection of the strong job growth here locally as well as low interest rates for mortgages. Home sales could have been even stronger, but inventory limited growth.”

— 2017 Columbus REALTORS® President Mic Gordon

There were 3,372 central Ohio homes and condos added to the market in March, which is a 4.1 percent decrease from March 2016 and the lowest number of new listings recorded for the month of March, when inventory traditionally begins to climb. 

“We keep thinking the inventory couldn’t get any lower – but it continues to decline,” Gordon said. “Even with the addition of new listings, inventory dropped to just over 4,200 at the end of March making it the 74th straight month of year over year decreases.”

During the month of March, central Ohio homes and condos spent an average of 46 days on the market, which is 6 days fewer than February and 13 days less than March 2016.

“The tight supply of for-sale homes is helping to push prices upward,” said Gordon. “Homeowner should give serious consideration to selling under these advantageous conditions.”

---

Article shared and all information sourced via the Columbus Board of Realtors. To view the original and for more info see below: 

Current housing report – March 2017
All housing reports

Columbus REALTORS® is comprised of over 7,600 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross Counties.

Columbest Year In Review - Happy Holidays!

The Columbus market is finishing the 2016 year strong and "is proving to be one of the best years ever for the Central Ohio real estate market" said 2016 Columbus REALTORS® President John Royer. 

“We continue to have record numbers of home sales each month and the demand for homes continues to be exceedingly strong.”

— Columbus REALTORS®

There were 2,227 central Ohio homes and condos sold during the month of November, a 15.8% increase over the previous year, according to the Columbus REALTORS® Multiple Listing Service. Year to date (January through November), home sales are up to 29,196 which is 7.1% above the same period in 2015. 

As the cold weather and holiday frenzy sets in, inventory naturally decreases. 2016 was dominated by a seller's market due to low inventory and low interest rates for buyers. Even though interest rates are starting to come up they are still historically low making it a great time to purchase! For all of my sellers out there, 2017 will be a great time to list with all the buyers the new year will bring and the buyers that were unable to find their dream home last year and are still hunting. 

Real estate offers flexibility, financial freedom and the ability to work as hard as you want to achieve your goals! There are no limits to your success and many different ways you can work and run your business. If anyone has questions about the industry as a client or potential job please reach out so we can talk and I'll help in any way that I can. Keller Williams is a fantastic brokerage and I've been very happy with the support, training, technology and events that are available to me. In addition to residential I am pursuing my KW Commercial designation to be mentored and learn more to better serve all of my clients. I have also joined the Keller Williams Young Professionals and helped them officially launch their Columbus Chapter! 

2016 has been a great year full of learning, open houses, happy hours and helping buyers find their dream homes! Here are some fun highlights below. From my family to yours, we wish you a very Merry Christmas and a Happy New Year!

To keep up with the exciting things happening in 2017 follow @columbesthomes

Why it pays to have a REALTOR

So, why is it so important to have a REALTOR® when you buy a home?

As a licensed real estate professional I provide much more than the service of helping you find your ideal home. As a REALTOR®, I'm an expert negotiator with other agents, seasoned financial advisor with clients, and a superb navigator around Greater Columbus. I'm a member of the National Association of Realtors (NAR) and the Columbus Board of Realtors and must abide the Code of Ethics and Standards of Practice that they enforce. As a hard working, tech savvy, personalized professional Realtor® I will be your best resource when buying your home.

Time, Money & Frustration

By using me as your Realtor through my experience, knowledge and skills you will experience a smooth, advised and efficient home search process. Especially when the market is this hot, you have no time to waste trying to get the right info on a property and find a way to see it (first).

Targeted Search

As a Realtor I have access to the MLS which hosts the most accurate, up to date information on available houses unlike popular websites such as Zillow, Realtor.com, Trulia etc that have outdated listings and misleading information. When I set you up on a search, the homes that match your criteria will come to you!

Full Access

I can help you with any home, even for sale by owners. I can also use my network to facilitate off the market offers and learn about houses that may suite you before they are even on the market giving you a major advantage over other buyers.

Vendor Selection

Finding the right lender, title company, home inspector and repair work if needed can be a daunting process and has a huge impact on your future. I can recommend trusted vendors that will take great care of you.

Community & Lifestyle

I’m an avid believer that where you live and what type of home you live in should enhance your lifestyle. Once I get to you know, I will help you find the right community and home to suite you, your needs and your dreams!

Negotiation

I’m experienced at presenting offers to homeowners and can help you through the process of negotiating the best price and other important factors. Price alone is not always the most important issue in a contract. From financing type to contract term, closing costs, inspection, remedy, possession and more I approach each contract differently based on what's important to the seller and how much flexibility my buyer has. 

The best thing about me as your Realtor is that all this help will not cost you a cent!! the Seller of the home you buy pays my commission to my Brokerage, so there is no reason not to have your best interests represented! 

My Philosophy for Buyers

When I work with buyers my goal is to provide a well rounded high quality experience. Whether you are renting, purchasing a home for the first time or are a savvy real estate client with experience, I will provide a personalized approach to make the process as easy and fun for you as possible. Moving is said to be the 3rd most stressful life event and normally it coincides with many other stressful life events - a wedding, divorce, death of a loved one, relocation, etc. Whatever the reason for your move, you should be focused on choosing the place that suits you, your budget and your needs. My job is to do all of the research, the appointment setting, have the difficult conversations, fight for your best interests, maintain all of the paperwork, deadlines and keep you up to date in a concise manner every step of the way so you don't have to be stressed.

I firmly believe that what type of home you live in and where that home is located directly affects your lifestyle. There are a lot of factors when it comes to choosing a home and there are practical, functional, and aspirational aspects that need to be prioritized. A great real estate agent can tell you whether or not you can find what you're looking for in your price range. Sometimes a small bump in price range can make a huge difference. However, a lot of buyers are pre-approved for a lot more than they need to spend to be happy and that extra money a month has an impact on their lifestyle. If you love to travel and eat out frequently or require a babysitter often the home you choose shouldn't limit those aspects of your life, where you live should enhance your lifestyle. 

Why do you need a REALTOR?

As a licensed real estate professional I provide much more than the service of helping you find your ideal home.  Realtors are expert negotiators with other agents, seasoned financial advisors with clients, and superb navigators around the local neighborhood.  They are members of the National Association of Realtors (NAR) and must abide by a Code of Ethics and Standards of Practice enforced by the NAR.  A professional Realtor is your best resource when buying your home.

Let me be your guide!

As a knowledgeable Realtor I...

•Can save you endless amounts of time, money, and frustration.

•Know the housing market inside and out and can help you avoid the “wild goose chase.”

•Can help you with any home, even if it is listed elsewhere or if it is being sold directly by the owner.

•Know the best lenders in the area and can help you understand the importance of being pre-approved for a mortgage. I can also discuss  and negotiate down payments, closing costs, and monthly payment options that suit you.

•Am an excellent source for both general and specific information about the community such as schools, churches, shopping, and transportation --plus tips on home inspections and pricing.

•Am experienced at presenting your offer to the homeowner and can help you through the process of negotiating the best price. We bring objectivity to the buying transaction, and we can point out the advantages and the disadvantages of a particular property.

•AM FREE! The best thing about me as your Realtor is that all this help will not cost you a cent.  The Seller pays my commission to my Brokerage so there is no reason not to be represented by someone with your best interest in mind. 

1. Contact me so that I can connect you with a mortgage agent to get pre-approved and find out what you can afford to spend before we start the search process.
2. We'll meet and discuss your budget, housing needs and dreams (Pinterest is a BIG help here) to create a profile of what you're looking for. I will set you up on a listing search through the MLS that only agents have access to so you will receive an email every time a home that matches your criteria comes on the market. Getting these listings through an agent before they pop up on the third party sites (zillow, realtor.com, trulia, etc.) is KEY to gain a competitive advantage for negotiations. 
3. Once the right property is found, an offer to purchase is written up, presented and negotiated. If accepted, I will prepare a timeline with responsibilities for all parties involved and you are officially in contract!
4. While you are in contract you will need to fulfill any contingencies like financing and inspection, but don't worry I'll guide you through the entire process to get you to the closing table.
5. On closing day you will sign lots of paperwork, transfer funds, get your keys and start the next chapter of your life (with a special closing gift from yours truly)!

To learn more about the home buying process or for help finding the perfect rental for you in the least stressful way, get in touch with me! You can email me at pfjohnson@kw.com or call/text me at 614.638.5817 so we can meet for coffee or a drink and get to know each other. I specialize in urban neighborhoods but can help anywhere in greater Columbus! Keep in mind that my commission is paid for by the seller of the home so there is no reason not to have me doing all the dirty work for you and fighting to get you the best deal on your dream home!