August 2006 Archives

Condo vs. Home, What is the best investment?

Posted by Mike Parsons
August 18, 2006 at 07:20 PM

The answer is, It Depends! Location. Location. Location. 3-5 years ago condominium complexes like Bethel Village (corner of Sawmill and Bethel) appreciated a little more per year than many well-to-do, surrounding single family homes. Due to economies of scale, and developers finding greater profit in condo development, we have seen many new condominium projects built on Columbus's North arch and downtown areas. This has transplanted a lot more condo inventory into the marketplace in the last couple years. When supply rises, demand falls. When demand falls, price appreciation will slow.

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Home vs. Condo - Are condo fees worth it?

Posted by Mike Parsons
August 17, 2006 at 06:49 PM

Many buyers struggle with whether they should buy a condominium or a single family home. A common objection for condos is thinking that a condo fee is throwing money away. One must first understand what a condo fee covers. Often, a condo owner will not have to pay for water or sewer costs, this is paid by the condo association.

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Average Sale Prices vs. Asking prices for Central Ohio

Posted by Mike Parsons
August 10, 2006 at 08:15 PM

Need help negotiating? Ever wonder what the average sale price vs. list price ratio is? I will list the average percentage of the asking price that sellers are getting in 2006 and compare it to 2005 for each central ohio community.

Downtown condos, lofts and homes.
Keep in mind these figures may be skewed and lean toward a higher percentage than is actual for resale due to many of the brand new projects registering sales with non-negotiable sale prices as well as sale prices over asking price for buyers choosing upgrades before closing.
2005 Sales Price/List Price= 96.2%
2006 Sales Price/List Price= 98.15%

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Columbus School District Rankings

Posted by Mike Parsons
August 09, 2006 at 04:48 PM

Whether you are a longtime Columbus Resident or someone considering a move to the Greater Columbus area, school district should be an important consideration for you. Communities in Columbus that have superior schools have shown superior price appreciation. I have listed each main Columbus School District's report card as reported from the State of Ohio.

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