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Market slow above $300,000-People don't feel rich anymore.

Posted by Mike Parsons
September 25, 2008 at 08:15 PM

While the first time homebuyer market $200,000 and under has been popping, homes that require folks to move then buy are sitting. The ones that are really struggling are the $400,000+ homes. The $400,000 plus marketplace has been fueled by the creative loans, teaser interest rates, and over-confident consumers that we hear about in the news everyday. This is simply not a time when purchasers feel confident enough to make those high dollar purchases. The media has created alot of fear. They figure they will wait it out. Also, many of the newer homes built in the last 5-6 years homes at $400,000+ that were sold on the outskirts of Columbus in neighborhoods like Wedgewood, Golf Village, Dublin, Powell, Lewis Center, etc.. are being perceived as over valued by the market. For most, its not huge price depreciation, but enough to keep most sellers under water. New builds were just sold at such a premium due to the below market financing. Buyers were evaluating homes based upon their mortgage payments instead of the purchase price.
The old addage Location, Location, Location is returning to be a theme as buyers are now much more considerate of commutes to work(gas), and the stronger investment of homes in established communities. Areas like Clintonville, Upper Arlington, Grandview, and Worthington have faired much better for sellers because every other home isn't on the market weighing the prices down. Buyers have forgone the huge open great rooms and vaulted ceilings for usually smaller homes in established communities that offer walk to schools, walk to restaurants, and more of a community feel.
Areas that are really taking a beating are Groveport, Pataskala, Pickerington, and Grove City due to a whole lot of new building and existing home inventory, and in some cases a perceived lesser school district.
Westerville and Hilliard are caught somewhere in the middle and have faired decently.
The Short North, Victorian Village, and Grandview continue to be pretty hot and pricey.
The Downtown and Arena District seller who bought in 03'-04 and were selling in 05'-06' did pretty well but it remains to be seen how many of the dowtown condos and lofts will fair over the next few years as investments. I am skeptical how the market will react to the once 5-10 tax abatments in some of these areas that will be coming due and are bound to affect buyers value and will go straight to their payments bottom line.

Its time to prepare your home for winter

Posted by Mike Parsons
September 12, 2008 at 01:25 AM

As the Fall and the colder months approach, here are a few things to remember to do to protect the integrity of your home.

Disconnect your hoses to exterior faucets. When it gets cold, water can freeze in a hose and back up into the spigot causing your interior water lines to break.

Install your storm windows.Chances are if your home is 1960 or older like in Victorian Village, Clintonville, Old Arlington, Grandview, and Old Worthington, you probably have storm windows that you change out with screens for the warmer months. Over the years many homeowners have installed storm windows on the outside of their wood windows to maintain the character of the original windows and add protection and insulation. Time to put the storm windows back in. If you don't have storm windows that can be a worthwhile expense and can really improve your utility bills in the colder months.

Winterize your lawn equipment.Make sure to do oil changes on all of your gas powered lawn equipment. Also, it is recommended to run your gas powered mower and trimmer until the gas is gone and it dies. This will prevent the carburetor from being clogged by old fuel. Gas can expire, evaporate, and get old. This exercise sometimes leads folks to condo living.LOL

Test your smoke detectors.Change the batteries on your smoke detectors every year. Also, smoke detectors should be replaced every 10 years.

Plant bulbs.Fall is a great time to plant those flower bulbs so they come up in the spring. The ideal ground temp to plant bulbs is 50 degrees, typically about 6 weeks before the first freeze.

COLUMBUS #1 IN AMERICA’S MOST AFFORDABLE PLACES TO RETIRE

Posted by Mike Parsons
September 08, 2008 at 05:01 PM

Our river city tops Forbes list of the most affordable places to retire. Our reasonably priced homes, lower inflation rates and low unemployment rates for those over 65 who wish to continue working, all contribute to the ranking.
As well, Columbus has the most doctors per capita and the highest number of citizens (per thousand people) tapping their Medicare benefits. Both issues are extremely important as the population’s life expectancy continues to increase. With people living longer, the need increases to stretch those dollars as much as possible.
The Columbus Board of Realtors launched “The Grass is Greener Here” campaign during the Spring. This was done to quell the negative rumors from the media, who tend to pain national trends as opposed to what’s happening in our local markets. As we know, “all real estate is local.”


On the heels of this latest news, see what others are saying about Columbus:
• ..One of the top 200 Best Places for Business and Careers..."
-Forbes
• ...A top 50 hottest city for expansion and relocation..."
-Expansion Management Magazine
• ...The second best city in the nation for African American families..."
-BET.com
• ..Franklin County is one of the top large counties for recruiting and attracting new business..."
-Expansion Management
• ..15th-largest city in the United States"
• ..One of the fastest-growing major metropolitan areas in the Midwest."
• ...No. 1 among the Top 10 Up-and-Coming Tech Cities..."
-Forbes, March 2008
• ..Seventh-strongest economy in the nation..."
- POLICOM, August 2006
• .Eighth-best big city on Money Magazine's 2006 Best Places to Live list..."
-Money Magazine, 2006
• ..A top hottest city for expansion and relocation..."
- Expansion Management Magazine, 2006
• .No. 9 among the Most Affordable Places to Live Well..."
- Forbes, November 2007
• ...Population in the Columbus Region as grown by 455,000 people (36%) during the last 26 years - to 1.7 million in 2006. Since 1980, Columbus has grown 12 percent faster than the national average and nearly six times faster than the state of Ohio..."
• ...one of the largest college populations in the nation, with 110,000 college students enrolled in 20 higher education institutions. Ohio State University was ranked the largest university in the United States in 2006..."
• ..Fourth-safest city for businesses in the United States..."
- Risk & Insurance Magazine
• ..The state of Ohio ranked number one in the nation for the number of attractive micropolitans for capital investment..."

Contributed by Judy Gray, Relocation Director of Cam Taylor Realtors

How to dispute a tax valutaion on your property in Columbus, Ohio

Posted by Mike Parsons
September 05, 2008 at 04:30 PM

Do you think your property, or your client's property, is valued too high by the Auditor's office for real estate taxes? Check out this article written by good friends of mine Ralph and Brian Berger. There is a complaint process that is administered by the Board of Revision.
If you believe your value is high you will need undisputable evidence to support the valuation. Once you appeal your value, it can go up, down, or stay the same.
Taxes are one year in arrears. Therefore, your tax bill that will come out around December 20, 2007, is for the valuation of your property up to 1/1/07. This means if you have an appraisal for the appeal it should be dated as of 1/1/07.
If property values are dropping in your neighborhood in the year 2007, then this will take effect with your 2008 tax bill.
The county re-evaluates your property taxes every three years. Therefore, the county will be re-evaluating your tax valuation in 2008 (also upon transfer assessed valuation is adjusted to the sales price).
Instruction on filing a tax complaint and forms are located on the Auditor's web site. All local Auditor's web sites are on ColumbusRealtors.com under `Related Links'. Once at the Auditor's web site look for tax complaint or board of revision.
Also you will need to pull up your property record card from the auditor's office (under property search). This will have information needed to fill out the board of revision tax complaint form (i.e., tax district, parcel number, assessed valuation, owner of property and sales history).
Typically for residential properties, if the form is filled out properly and submitted and received before the deadline (March 31), and with evidence (an appraisal completed by a state certified appraiser) supporting a lower value, the board will make a decision and either will accept the appraisal value or set up a formal hearing.
The board of revision, the school board representative, and the person filing the tax complaint (and their attorney and/or appraiser) are usually the parties at the hearing.
The board will review your evidence (usually an appraisal or recent sales of properties or comparable sales of similar properties) for a lower property value. The school board attorney will also have the right to review the evidence and ask questions.
The board then takes the evidence under advisement and will notify by certified mail of their decision.
If the school board is involved they will (1) accept the board's decision or (2) appeal the case if they are in disagreement.
The school board if in disagreement may elect to have the property appraised for the appeal. The school board has a vested interest in real estate property taxes as they receive most of their funds from these taxes.
The appeals hearing is similar to the first hearing except now there is an opposing side.
After all evidence is presented, the board again will take under advisement and notify of their decision later by certified mail.
It is very important to fill out the form completely and properly. If an entity other than an individual is owner of the property the complaint may need to be signed by an attorney. Be careful to meet the deadline, and have substantial evidence to show a reason for a lower value. This form needs to be notarized. Complaints will only be accepted from December to March 31.
I have appeared before several boards of revision on numerous occasions and have found them to be very fair in both the complaint process and their decision.
The auditor's office uses a mass appraisal system to determine the value of your property. The system is good, however, most are expected to be the correct property valuation, but some are also expected to be high and low.
We are currently in a buyer's market in central Ohio as evidenced by larger inventory of houses, longer selling periods and generally leveling prices. Therefore, tax complaints will probably increase in 2008 even though the county will be doing a complete re-evaluation of properties.

By Ralph F. Berger, MAI, SRA and Brian R. Berger, R.F. Berger and Associates, Inc.


Grandview Real Estate Market is Hot!

Posted by Mike Parsons
July 02, 2008 at 09:07 PM

Everyone has been watching the news and reading the papers except the buyers and sellers in Grandview. Someone forgot to tell them we are in a slow real estate market. The prices don't seem to stop. While most other Columbus suburbs have experienced a slowdown in offers/showings and mild price declines, Grandview hasn't missed a beat. I have been out with two different sets of buyers in the $250,000 and under price range and if the houses we see are decent, the house is gone. There just isn't much inventory on the market which is contributing to the strong market. Grandview is the only sellers market in Columbus, OH right now!
1147 Grandview Ave. needed alot of work but had beatiful potential-In contract in just a few days.
854 Palmer never made it to the market at $164,900.
1001 Parkway was one of Grandview's rare foreclosures and lasted about 4 days.
1298 Murrell didn't even leave us enought time to see it, gone in a number of hours at $205,000.
1110 Elmwood, 2 days.
852 Timberman Sold in 9 days for $224,900
1289 Elmwood 10 days at $242,500
1429 W. 2nd Ave. Sold 3 days at $221,000 (2 bed, 1 bath)
908 Timberman Sold in 3 days at $199,000


Moral of the story: If you want a 2 story home in Grandview for less than $200,000, you better get in the first day and make an offer. If the house is priced higher than $250,000 that might buy you a few extra days to make your decision. Good Luck!

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.

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

Worthington Estates-Olentangy Hills-Worthingway Neighborhoods

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.

Nikolai Zherdev-Home of the Columbus Blue Jackets Star

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.
burnham square.jpg
pascal kitchen.jpg
family room burnham.jpg

Gary Parsons-As Seen On TV!

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

Worthington's McConnell Arts Center Coming Soon!

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/...

One of the best places to retire in the Nation-Short North-Columbus,OH

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

How many high school dropouts live in your zip code?

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/

Columbus Housing Market Slow? Compared to What?

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

FREE- Columbus Home Buying Workshop

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!

Old Westerville-- If these walls could talk!

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.

Real Estate Market July 5, 2007

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.

Leadership Worthington - Leadership Roundtable

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.

Old Towne East Historical District - Hardcore Renovators Needed!

Posted by Mike Parsons
September 19, 2006 at 10:03 PM

old towne home.jpg
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

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