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"As a first-time homebuyer, I was nervous about the entire process. Step by step, Joe made it easy and fun. His expertise in the Columbus real estate market is a tremendous asset. He is highly recommended!" - Nicolette Horan, March 08
"I wanted to say thank you again, so much, for all your hard work. I know that you really put a lot of time into this transaction and I really, really appreciate it. I'm so happy I got the house and it all worked out and I just wanted to say thanks again, you did a great job and i really appreciate it. I will put that on the survey when they send it to me.
If there is ever anything I can do for you, please don't hesitate to give me a call. I will refer every single person I know to you. I'm going to go get my dog and we're going to sit on the floor of our new house and have a glass of champaign. Thanks a lot Joe" -- Michael Mamp, Feb 08
What is up with the Columbus AreaHousing Market? July Solds
August 8th, 2007 categories: For Home Buyers, For Home Sellers, Market Updates, Real Estate News
Franklin County, July 2007 Housing Market Update. In greater Central Ohio, we had a mere 1,963 single family homes sell last month, 61%, or 1199, of those were in Franklin County.
From 652 square feet to 8051, they averaged
- 1,723 square feet,
- had 3 bedrooms on average and
- were on the market for about 88 days – not bad really is it?
- From $7,750 to a cool $2,100,000
the 1200 homes ran the gamut, as they do every month.
It’s hard to imagine what homes look like that sell for under $20,000 (There were 15 of them last month!) when you’re looking at $230,000. They’re out there though and, trust me, you’re better off not seeing them.
On the other end, you see the million dollar homes (There were 5 of those last month!—One in German Village—yeah, the one on Jaeger across from Schiller Park) on TV all the time so you have an inkling of what they look like. They’re the kind of homes that are hard to resist when you happen upon an Open House.
The two most expensive homes sold last month were in Upper Arlington’s Fontenay Place neighborhood. At $1.384MM and $1.3MM, these new build Columbus area homes had lots of only 122 X 129. Not a lot of green for that kind of green. If you know what I mean.
Roland
August 8th, 2007
Love reading your insight into the Columbus real estate market.
Thank you!
Joe Peffer
August 9th, 2007
You’re quite welcome!
Anton
August 29th, 2007
Hi Joe,
I am planning to move to Columbus next year and currently I am researching real estate in Columbus area. I was very surprised to see such a huge difference in prices between houses in the same area. Some of them cost $10,000 and some of them are over a million bucks. I am wondering is it because of the different neighbourhood and community within the same area or the price totally depends on the condition the house is in? Any comments will be greatly appreciated. Thanks,
Anton
Joe
August 30th, 2007
It all depends on the neighborhood within the specific geography and the condition of the house itself.
When it comes down to it, Columbus isn’t really all that big. There are many places around town where, within a mile radius, you could have $30,000 homes and $1MM homes. They’d be in different communities and separated by some invisible dividing line like a rail road track or a street that divides home prices by 5 as soon as you cross it.
It’s no different than many other big cities. In neighborhoods like Olde Towne East, a still up and coming and gentrifying neighborhood, it becomes much harder to price houses because they are all in different shades of rehab or deterioration. It’s hit and miss not just from block to block in places, but house to house in parts.
As you get farther away from the city center, i.e. the suburbs, prices begin to stabilize just as the houses begin to look a lot like one another. Even if it’s a more diverse housing stock neighborhood in Westerville or Worthington though, number of bedrooms and square feet can generally dictate selling prices somewhat accurately.
Please let me know if there is anything I can do to help in your home search.