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May 2008 Archives

Drop in new listings suggests market is turning around in Columbus Ohio

Posted by Mike Parsons
May 23, 2008 at 04:28 PM

(April 23, 2008) The number of homes listed for sale over the past two months is lower than the previous year suggesting the market may be beginning to adjust itself. The 4,518 homes added to the market in April were 8.5 percent lower than April of 2007 and the 3,697 new listings in March were almost 29 percent lower than the previous year according to the Columbus Board of REALTORS®. The number of new listings January through April (15,648) is almost 12 percent lower than the same period last year.

“The recent lower sales prices are due to the overflow of inventory on the market for the last couple years,” says Greg Hrabcak, President of the Columbus Board of REALTORS®. “It’s simple economics…When there is a greater supply than demand; the price will drop in order to compete.
Although a hard pill to swallow for sellers, buyers have been in a very favorable position these past couple years. Now that may be changing.”

Currently, there are over 17,500 residential homes and condominiums available for sale in the central Ohio area. Although there is a broad
selection of homes in every price range, 67 percent of the listings fall in the $100,000 - $399,999 price ranges.

Home sales for the year (January through April) are 12.3 percent lower than the same period last year, but are still in keeping with the pre-boom
sales pace. The average sale price year to date is 7.2 percent lower than what the average home sold for last year.

“We’ve also seen a 40 percent decrease in the number of homes sold this year in the $750,000+ price range,” offers Hrabcak.
“That kind of decrease in higher end home sales has significantly impacted the average sale price.”

“Word on the street?...Agents can’t believe that sales are down because they’re so busy. Housing activity has really picked up
now that the weather is nice and buyers are realizing that market conditions are so good.”

To view March & April sales charts, click here.

The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Madison, Morrow
and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, Pickaway and Ross Counties.
-Reported by the Columbus Board of Realtors

Columbus,Ohio= #2 City in the Nation for Golf

Posted by Mike Parsons
May 08, 2008 at 09:25 PM

Columbus was ranked as the #2 Golf Course destination in the nation by Golf.com. Courses mentioned include Muirfield Village, Cooks Creek, Longaberger, Eagle Sticks, Granville Golf Club, and Double Eagle. I believe we are up at the top for number of golf courses in the city, as well. Click on the link to read more from...http://www.golf.com/golf/gallery/article/0,28242,1681840-10,00.html

Old Jubilee Demolished-New CVS Building in Worthington

Posted by Mike Parsons
at 08:57 PM

Many residents were saddened to see their hometown grocery store shut its doors. I didn't realize until I moved to the Old Worthington area how valuable and convenient the store was to our residents. It was only a short walk or drive away and now residents must make the commute to Giant Eagle on 161, Kroger at Worthington Square, or down to Graceland shopping center for their quick ingredient pit stops. CVS has been making good headway on their construction and should offer Worthington residents that convenience for small food stops that we have been missing for the last 6 months. I look forward to seeing the finished project. The City of Worthington worked long and hard with CVS to bring a building that reflects the Worthington architecture that we know and love. I look forward to potential future redevelopment across the street on High St. as well as across North St. from the Jubilee locaiton where the current CVS and Kinkos reside. Those potential redevelopments will do so much for the feel of the High St. corridor. Sometimes I think many of the dinosaurs in Worthington fear change and redevelopment. I believe we should be open to any potential projects that maintain our classic colonial architecture and bring in businesses that attract community, culture, and social gatherings.

HUD foreclosures homes are back on the market

Posted by Mike Parsons
at 08:50 PM

HUD foreclosures are now back on the market. The HUD property marketing contract has been re-assigned to National Home Management Solution from Chapman Law Firm. They were taken off the market for the last couple months as the new firm took over and re-inventoried the properties. Buyers interested in purchasing HUD homes can find them listed at www.NHMSI.com.
All buyers should consult a real estate agent when considering HUD homes as they can be a great investment but often requires an experienced agent to navigate these properties to closing. Please contact The Parsons Real Estate Group if you have any questions about HUD properties.

Worthington is turning over, young folks are coming back home.

Posted by Mike Parsons
at 08:24 PM

We are starting to see the young folks coming back! They are opting to come back to Worthington after their after-college jaunts to New York, California, and other states that lure young people away to "greener pastures". After some exploring, many find that all communities are not created equal and long for the culture they experienced growing up. We are seeing many Thomas Worthington High School grads returning to the Olde Worthington area, Kilbourne Estates, and Worthington Estates neighborhoods. I would expect this trend to continue.
These thirty somethings may have previously bought a new home in Hilliard or Delaware County and found that they missed all the amenities of an established, centrally located community. Some stumbling blocks for many of these young professionals are the home prices and "dated" home inventory. If it weren't for the high prices I think we would see many more flocking. House Wine, P.K. Oryans, and Old Bag of Nails has given a casual social setting that Worthington once lacked.

Worthington Farmers Market-Downtown Worthington

Posted by Mike Parsons
at 08:09 PM

If you want to experience something very cool that Worthington has to offer, stop down every Saturday in downtown Worthington, Ohio from 9:00AM until Noon. There you will find the Worthington Farmers Market. The streets and sidewalks are filled with farmers marketing their natural produce and foods. It is a traditional market setup with crowds flocking toward their favorite vendors. People come from Delaware County,Westerville, Clintonville, Upper Arlington, and Dublin to experience this traditional mix food and culture. Worthinton Farmer's Market is located one block south of route 161 on High Street (RT. 23) in the downtown business section. For more information you can check the Olde Worthington Business Association Website at www. owba.net or the City of Worthington website at http://www.worthington.org

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