Community Archives
Posted by Mike Parsons
May 08, 2008 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.
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
Posted by Mike Parsons
March 02, 2008 at 11:09 PM
Here are the latest 3 sales in Worthington Estates and Olentangy Hills. Worthingway hasn't had any sales in the last couple months.
472 Blandings Ct., a 3 bed 2 bath 1640 square ft. 1 story, was Sold on 1/4/2008 by Phil Giessler for $213,000 and on the market for 26 days.
73 Heischman was sold on 2/13/08 at $219,900 in Worthington Estates East. It was a 2 story with 2080 sq.ft with 4 bedrooms and 3 full baths and on the market for 255 days.
6865 E. Alloway was sold on 2/20/08 for $223,500. The one story had 3 bedrooms/2baths and was on the market for 82 days.
Posted by Mike Parsons
February 11, 2008 at 01:42 AM
Zherdev has been setting the Nationwide arena on fire this year. Burnham Square has been a very popular condominium complex for the Columbus hockey team due to its super close proximity to Nationwide Arena (about 100 yards). Nikolai purchased a 2 bedroom, 2.5 bath, 1958 square foot condominium at Burnham Square in 2006 for $457,000. Other notable residents of Burnham Square in the Arena District are Pascal LeClaire at $492,000 and Kristian Tollefsen at $445,000.
Posted by Mike Parsons
January 30, 2008 at 11:49 PM
Due to Gary's role as President Elect for the Columbus Board of Realtors he has been getting many calls from reporters about the housing market. Don't worry we won't let it go to his head. Click here to see Gary on Channel 3 News.
Click Here for Video
Posted by Mike Parsons
December 22, 2007 at 04:33 PM
Worthington's new arts center will be a great resource for cultural events, entertainment, and education in the Worthington Community. It will be prominently showcased next to Thomas Worthington High School at the corner of Evening Street and Dublin Granville Road. The Worthington Arts Council has debuted the new drawings for the McConnell Arts Center. The structure will feature a 220-seat auditorium, classrooms, studios, offices and exhibit spaces. Most of these areas will be multi-use and will be available for public and private meetings as well as social gatherings. You can see the floorplan and sketches of the exterior at the link below.
http://www.worthingtonarts.org/...
Posted by Mike Parsons
December 03, 2007 at 04:37 PM
Money Magazine looked at 30 of the nations largest metro areas and picked the top areas or neighborhoods to retire. Click on the link below to go to the Money Magazine article about the Short North.
Money Magazine Article
Posted by Mike Parsons
October 17, 2007 at 09:48 PM
This website is a great resource to see Columbus area demographics and allows you to compare them to other surrounding Columbus zip codes. Some areas of interest that are tracked are age, population, education, and income. http://zipskinny.com/
Posted by Mike Parsons
September 18, 2007 at 07:15 PM
When it comes to housing, words like slump, slow, and risky pepper headlines across the country today. Those of us in central Ohio scratch our heads, as in our market, sales are exceptional when you take a look at the big picture...
In 1972, the Greater Columbus area was made up of six counties, had a population of 1,170,000, fixed mortgage rates were 7.5 % and Realtors sold 8000 homes.
By 1982, our population was 1,270,000 (up 100,000 in 10 years), fixed rates were 16+%, and 5700 were sold.
By 1992, the population was 1,400,000 (up 130,000), fixed rates were 8.25%, and 14,000 homes were sold.
Today, our population is 1,700,000, fixed rates are in the 6.25% range, and last year REALTORS sold over 26,250 houses.
I repeat-26,251 homes were sold last year in Central Ohio...that's hardly a slow market!
Here's the good news you haven't heard!
-In the past 40 years the median price of homes increased every year except 2006-which followed four record setting years of increases.
-Central Ohio home values have increased almost 33% in the last decade.
-Last year was the third highest number of sales ever in Central Ohio. Yes, it was down 4.5% from 2005 and the average sale price is down a whopping 1%, but it was still a good year. Today, compared to 2004, only 3 years ago, we have sold close to the same number of houses and the average sales price is up nearly 3%.
-The median net worth of a rental household is $4,800, yet the net worth of a homeowner household is $171,000.
-In the next 15 years the baby boomers are going to inherit 90 trillion dollars. Ninety-six percent of baby boomers think real estate is a good investment, 8 out of 10 own their own homes, and 34% own multiple properties. That demand for the future real estate will certainly push investments higher.
-Since 2000, the DOW has gained 10% (all in the last year). In the same time, the average home nationwide appreciated 88%.
-While we often hear that Ohio leads the nation in foreclosures, we were actually 8th in 2006. Certainly that is not great, but Ohio is also #8 from the top in the percentage of households that own their own homes! In Columbus, we are 19th of the top 100 MSA's in foreclosures, but are lower than Vegas, Dallas, Denver, Indianapolis, Houston, Memphis, Lauderdale, and lots of others.
-Problem sub-prime loans make up less thatn 1.5% fo all loans.
-Standard & Poor's recently released its list of top 50 major metros at risk of declining home prices in the next two years showed Columbus as one of the least risky. According to the report, on average, there's a 34.6% chance that home prices will drop in the nation's top 50 markets int he next couple of years, with many of the riskiest markets falling in areas that saw steep run-ups in prices in recent years, followed by decreased affordability and drops in rate of appreciation. Columbus is #6 from the bottom and has a less than 10% chance of homes prices falling here (well below the average) in the next two years.
In a nutshell, for the first time in 35 years...
-Inventory is high so there's a terrific selection of homes to choose from.
-Home prices are very competitive.
-Interest rates are awesome (only 3 years in the past 35 years have rates been lower). So you can get more for the money.
-And there are still many great loan programs for deserving buyers.
Now is a great time to buy!
By Brad Bennet-President of the Columbus Board of Realtors
Posted by Mike Parsons
August 29, 2007 at 08:09 PM
9/15/07-We will be hosting a FREE Home Buying Seminar for first time buyers. We thought we would do this class to help first time buyers feel more comfortable going through the home buying process. Often, buyers haven't done the necessary research and aren't prepared for their home purchase. This course is designed for those that hope to buy within the next year, but maybe not tomorrow. It is intended to give home buyers the basics so that everything isn't thrown at them all at once when the time comes to buy. This discussion is intended to disregard the hype and talk about the real issues that are important first time buyers. Subjects that we will talk about are:
1. Typical Steps in a Real Estate Purchase including financing, home search, making and negotiating an offer, to inspections, insurance for your home, and closing on your home.
2. How do I apply for a mortgage loan? What things do I need to be aware of when applying for a mortgage?
3. The biggest mistakes first time homebuyers make in Columbus, OH.
We will have an open forum for any questions big and small after the presentation.
The Free Homebuying Seminar will be held at Park National Bank located 7140 N. High St. Worthington, OH 43085 (Just South of 270 on the corner of Wilson Bridge and High). It will begin at 10am and will go unitl approx. noon depending upon the amount of questions. Light refreshments will be provided. Please call or email to register your seat. 614-523-6818. RSVP is required.
9/15/2007 at 10AM Park National Bank Worthington, OH 43085 614-523-6818 or email mike@parsonsrealestategroup.com to register now!
Posted by Mike Parsons
July 13, 2007 at 06:16 PM
We have a new listing in Old Westerville located at 101 S. Grove St. I love working with these older homes that ooze character and always have a story to tell. This home sits on a double/corner lot nestled near Otterbein College. This home has been the subject of many conversations in the neighborhood.
For those of you that don't know, Westerville,OH was a major player in the Temperance and Anti-Saloon Movements in the early 20th century. Grove St. was once known as Temperance Row and is where many officials of the Anti-Saloon League lived. After the brick paving was installed in 1912, these homes were constructed. Milo Kelser moved into the home at 101 S. Grove. Thomas Hare who later headed the Maryland Anti-Saloon League, built the house at 109 and S.J. Fickel constructed the house at 117 S. Grove. Milo Kelser was a leading official in the Temperance movement and his residence at 101 S. Grove served as an alternate meeting spot for the National Headquarters of the movement. 101 S. Grove was the place from which Milo wrote “The Westerville of Tomorrow”, made his mark on Otterbein College, brought national attention to the Westerville community, and made his mark on American politics.
Posted by Mike Parsons
July 05, 2007 at 08:33 PM
This real estate market is in slow motion. Not quite as bad as the National and Local Media would have you know, but still slow. Things are selling, just slower than they were 1-2 years ago. Due to the much longer marketing times we see sellers adjusting their prices to the slow demand, thus, prices sagging a little. We haven't seen any big dips like Florida, Arizona, Cali, etc..., probably 1-5% less than prices in 2004-2005, early 2006. I expect this trend to continue through the end of 2008 at which time we will see a bottom.
Rates have ticked up a bit to approx. 6.875 or so but they are still very good compared to the average over the past few decades.
This expected slow down is magnified by buyers poor confidence from seeing media hype, tightening of lending standards which has taken many subprime buyers out of the market, over supply of inventory in Columbus's surrounding, newer over-built subdivisions, and seller's (ARM's) adjustable rate mortgages starting to shift to higher variable interest rates this year.
Note to Columbus Real Estate Buyers:
Now is a great time to buy. Think location. On the outskirts you can find every third new build for sale. Invest in a community that maintains strong demand. You can find that in neighborhoods where there are few homes for sale, and in cities that are land locked. - If they are going to be building down the street after you buy your home why would they buy your house in 5 years rather than build their own new home? Invest in a home that appeals to a wide audience yet has unique factors you can't find in the home down the street(historical character, central location, convenient to all highways, functional floorplan, walking distance to parks/schools, close to hotspots/nightlife/culture, don't be afraid to make cosmetic improvements to create value)
And remember, if you have a home to sell before you buy, you may get a little less for your home when you sell but you should be able to get a great deal on the new home you buy.
How can I put myself in the best resale position down the road?Buyers and sellers remember: You may get more square footage and a cooler updated floorplan buying a new home but don't be surprised when resale time doesn't pad your wallet. There is a trade off between new homes and resale. New homes typically won't start appreciating until year 4-5. Older, centrally located, established neighborhood homes start appreciating from day one. When you buy new you pay a premium for new mechanicals, roof, ability to customize, and always competing with multiple like-king houses in the neighborhood, etc...When supply is high in a neighborhood, homes are always competing with one another and prices never appreciate.
Posted by Mike Parsons
April 20, 2007 at 05:04 AM
I have been fortunate to be involved in Leadership Worthington over the past year or so. Leadership Worthington is an organization devoted to self-exploration and learning that helps classes to get more involved with leadership opportunities in Worthington and community service projects.
Leadership Worthington is a year long program that continues to evolve through new ideas. Every year and consists of a class project or multiple projects that intend to better our community and/or world. This year we are developing another organization known as the Leadership Roundtable or Worthington Think Tank. This is an exciting time for our class which is composed of some very bright and successful individuals that live or work in Worthington. We hope to assemble a roundtable with representatives of 10-15 different and diverse area organizations. Our goal is to use this opportunity as a platform to discuss common issues/problems that affect Worthington.
The represented organizations within the roundtable will represent the six different Wellness Model Categories -(Emotional, Intellectual, Occupational, Physical, Social, and Spiritual). We hope to start a discussion on issues such as Worthington economic development, target area revitalization, airport noise etc...We don't know where the journey will take us or what it will bring but we hope it will be a sustainable organization that will help shape a better community and will evolve with the leaders within it.
Posted by Mike Parsons
September 19, 2006 at 10:03 PM
Old Towne East was one of Columbus's first neighborhoods and contains homes built as early as the 1830's and represents over 50 architectural styles. They were the homes of industry barons, bankers, architects, mayors, and legislators who shaped the city's future.
Old Towne probably has the most beautiful architecture in the city and has been a hotspot for trend setters and renovators over the last 20 years. You can't really find large 1800's mansions, carriage houses, original stained glass, and magnificent woodwork in hardly any other communities besides German and Victorian Village which carry twice the price tag. With prices typically much more competitive than German Village and Victorian Village the neighborhood has found quite an audience. There is still a crime element there and isn't as commercially developed with shops and restaurants as the Short North. The neighborhood streets tend to have pockets of nice areas. If this area interests you I would encourage you to use this map to drive through and take the tour. It is located just West of Bexley and provides a great diverse urban enviroment just East of Downtown. See what this vibrant area has to offer. For more info you can go to http://www.oldetowne.org
