Columbus Ohio Real Estate Listings
Columbus Ohio Real Estate has certainly seen some changes since 2006. The market has been unforgiving to most homeowners and has delivered considerable losses for many sellers. Newer home owners who suffer from negative equity have traveled down a path of financial ruin and disaster as home values sink into a hopeless abyss. As a real estate agent in this market I have experienced some heart wrenching situations where people really had no option but to lose their home. Many folks are able to do a short sale in these bad times but there are others that the bank just doesn’t care about. If you are not familiar with this industry you don’t understand the ugly side of lenders. They pride themselves on customer service when they are taking your money but when they are on the losing end the fangs come out. I have seen several times when a deal could have come together to save a homeowners credit and avoid foreclosure but instead the bank simple refused to budge from their number and they were not nice about it either. When it come down to the almighty dollar the banks lose their respect for humanity and don’t seem to care if they demolish someone’s financial situation along the way.
So is there any good news? Yes, good news is on its way as we are beginning to see evidence of a turn around. Many homes for sale around Central Ohio are starting to see slight up ticks in value. In fact home sales over the last 4 months of 2009 were up 24.3 percent compared to the same quarter in 2008 according to the Columbus Board of Realtors. Evidence of an increase in Columbus Ohio real estate values can be seen in the following graph provided by zillow an online home value tracking service.
Further data on homes for sale can be depicted in the follow graph that shows the total homes sold also increased in 2009.
There is solid proof that home values are increasing and the number of homes selling is also increasing. Dave Liniger co-founder of R/EMAX International wrote in a recent article that we will see increases in real estate values over the next 3 years. While this will be a bumpy ride with lots of ups and downs the general shift will be in the up direction.
Columbus Ohio real estate is in quite a different situation. Fortunately during the big real estate boom years Columbus OH properties did not see the gianormous increases that much of the country experienced. Columbus has always had steady growth. Columbus real estate values did not double in price like some places in California and Florida. When the real estate bubble burst Columbus real estate took its share of drops in value but it wasn’t the dramatic freefall that other areas realized. What this means is we have a more conservative market here in Ohio. With that being said combined with recent conditions this really is an excellent time for buyers in the Columbus Ohio real estate market.
If a buyer is not buying they are either stupid or broke! Lenders have tightened reins on lending. If you don’t have good credit and some cash you are going to have a difficult time financing a home. However the current interest rate on a loan is ridiculously low. Low rates combined with low real estate prices combined with and increase in home values equals you better buy now or you’re going to miss the best buying opportunity you may see in your life time. If your credit is bad you better fix it fast and if you don’t have any money you had better find some and in a hurry. There are lots of tax incentives encouraging you to buy a home. Not only do you get a huge tax write off but our current government is giving away money in form of a tax credit to encourage you to buy.
Columbus Ohio real estate has presented a perfect buying scenario. This is good news for buyers and it paints a bright future for sellers. The outlook is encouraging and even through all the housing turmoil I am proud to say I have been able to help lot’s of buyers and sellers reach their real estate goals.
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