clintonville

Real Estate Review: Spring 2018

The spring 2018 real estate market was extra hot in Columbus! A strong seller's market with low inventory and aggressive buyers in multiple offers scenarios dominated the closings in the first half of the year. 

I was able to get my buyers in contract by being very strategic in our approach to the process, preparing them as much as possible, communicating effectively with the other side and negotiating hard! Price isn't everything! Some deals were won with creative possession clauses, flexible closing timelines, lender reassurances and more.

Even though inventory is low, sellers absolutely still need to be represented by the right Realtor who knows how to price, position and market their home properly to as many people as possible. Did you know "FSBOs earn an average of $60,000 to $90,000 less on the sale of their home than sellers who work with a real estate agent, according to the National Association of REALTORS®."?

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In March, I helped very close friends buy their wonderful new home and simultaneously sell the condo they had done an awesome job renovating. When their condo in Worthington Glen sold in one day, it was the highest selling price EVER for the subdivision!! They just finished renovating their new place as well, stay tuned for a before/after blog coming soon!

For those of you who followed my Flip House journey on social media, you know that we successfully sold that fully renovated Clintonville home in June! So proud of the work my investor client did and happy for his first of many investment properties to have closed. Check out some before and after highlights below and view the full reno on my Instagram @Columbesthomes

I had the opportunity to work with many first time home buyers this spring! As exciting as that time can be, it's so important to make sure they understand each decision as they make it since things can move very quickly. Sometimes the pressures of the timelines in this market can put clients in a difficult spot, it's my job to guide them through that and keep them thinking of the big picture. Congratulations to all of my clients so far in 2018!!

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Even with historically low inventory keeping home sales down, sales prices in Columbus set new records in the first half of 2018! The lack of inventory proved frustrating for home buyers, but when they were pre-approved, working with an agent and prepared to move quickly they were able to secure homes. February marked the 85th consecutive month of year over year declines in inventory and left central Ohio with 1.2 months supply of inventory at the current sales pace, according to the Columbus REALTORS® Multiple Listing Service. 

““The lack of inventory in central Ohio is a major obstacle for home buyers in today’s market,” said Walsh. “If you look at the number of homes sold in the first two months of 2018, it’s clear that buyers need to be prepared to move very quickly!””
— 2018 Columbus REALTORS® President Sara Walsh.

March brought the first uptick in inventory with a significant increase of 41.6% more in closed sales than in February! Columbus buyers ate the new inventory up with an average of only 39 days on market for the whole MLS. In April, Columbus was ranked the 4th Hottest Housing Market in the nation by Realtor.com! Inventory continued to increase by 9.1% from March to April with closed sales up 8.8%. 

““In this hectic market place, as professionals, it is our job to take care of all the details, construct a clear contract, and calm the emotional storm that is part of the buying and selling process,” said 2018 Columbus REALTORS® President Sara Walsh. “As REALTORS®, we are finding ourselves in nearly daily communication with our clients who are committed to finding a home or preparing to sell.””

The average sales price in May 2018 was $253,133 which set a record high for the Columbus Multiple Listing Service! Inventory was up 18.8% from April and up 8.2% from May 2017. With all of these buyers ready to purchase and sellers getting motivated by hearing about the great market, spring took off with an incredibly high number of sales especially given the low inventory. The average days on market for May was 27 which tied with August 2017 for the lowest ever on record. 

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If you want a free, no pressure analysis of what your home's current market value is, please click here. Any questions about real estate, becoming a REALTOR or the facts presented please reach out to me at pfjohnson@kw.com or 614-638-5817 - Priscilla Johnson | Columbest Homes

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

http://www.columbusrealtors.com/stats/default.aspx

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.

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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.

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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 Summer Events

Mark your calendars for the Columbest Summer of 2016

Living in such a great city makes my job as your local, lifestyle, REALTOR® great. There are many diverse and unique areas within Greater Columbus that all have something special to offer. The best part is that no matter where you live, you can experience highlights of each area, different cultures, music, art, food and more through these summer festivals! I encourage you to go to a festival you've never been to or explore an area of the city you're less familiar with this summer. Engage, explore and enjoy!

 
 
 
 
 
 

Hope everyone has a great summer in Columbus! If you or anyone you know is looking to rent, buy, sell or invest in real estate please let me know at pfjohnson@kw.com or 614-638-5817 

I also highly recommend this Columbus Summer Checklist from Morgan at Columbus Living Blog! Thanks to Columbus Underground, Experience Columbus and more for aggregating all of the wonderful things happening this summer.

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!

 
 

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