Statistics for April New Albany Home Sales are recapped below:

                                              2012             2011              +/-%

# of home sold                         31                 25                +24%

Average Sales Price                $360            $345             + 4%

List/Sales Price Ratio               97%              96%             + 1%

Days on Market                         80                  85              - 6%

New Albany is now a Seller’s Real Estate Market

The National Association of Realtors defines a Seller’s Market as one with less than a 7 month supply of homes for sale. There are currently only 122 homes for sale in the New Albany Plain Local School District. Using April’s sales rate of 31 homes sold, that means there is currently only a 4 month supply of homes for sale in New Albany! The market definitely favors sellers and is why prices are beginning to rise, homes are selling closer to the list price, and days on market is declining.

If you want to be part of this robust selling season, we want to talk with you! Contact Kate & Tony Thomas at New Albany Realty by calling 614-939-8944 or visit our website www.NewAlbanyOhio.com to access all homes listed for sale in New Albany and the Greater Columbus area.

Kate Thomas

katet@newalbanyrealty.com

Despite a record low inventory of homes for sale in New Albany, 1^st quarter unit sales were about equal with last year. A reduced inventory creates a market that for the first time in years actually favors Sellers! As a result, we are seeing a slight rise in home prices pretty much across the board. Days on market are declining as well – another indicator that it’s a good time to be a seller. Tony and I are cautiously optimistic that 2012 is the beginning of an improved real esate market in New Albany and Greater Columbus.

Let us hear from you if you have questions about the market for your home or about getting your home ready to sell! The members of our team are expert at handling the sale of your current home and purchase of your next one! Call us at 614-939-1234 or visit us at www.NewAlbanyOhio.com, the #1 website for New Albany Real Estate!  

Until the next time… Kate & Tony

New Albany 2012 1st Quarter Real Estate Recap

This means that – generally speaking – both home sales and home prices are down.

But there are still plenty of things that home sellers can do to ensure a successful outcome on the local housing market.

Continue reading to learn more about these tips and see how they can help you as a New Albany home seller.

Things to Do Before You Enter the New Albany Real Estate Market

Get Your Home in Top Condition. Seller’s face a lot of compeitition in a buyer’s market because there are more home sellers on the market than home buyers. Thus, it’s important to make your home stand out above the rest. You can do this with some easy-to-do improvements around the house, such as giving your home a fresh coat of paint, cleaning the entryway to your home and trimming overgrown bushes and shrubs out front. All of these things will increase your home’s curb appeal, which will likely attract more home buyers.

Prepare an Aggressive and Comprehensive Market Plan. The best marketing plans use an array of media to reach the largest audience possible. They also play up your homes best features. An experienced New Albany real estate agent can help you create the right marketing plan for you and your home.

See if your company offers relocation assistance. If you’re moving to another city for a job, you may want to check with your employer to see if they offer any sort of help to make selling your home easier. Check with your human resources department for more information.

Set the Right List Price. As we mentioned in a previous New Albany real estate blog, setting your home’s list price too high in the beginning could create substantial problems for you as a home seller.

DeClutterize Your Home. By removing unnecessary furniture and knick-knacks from your home, you’ll make the home appear both neater and bigger. This will, in turn, make your home more attractive to prospective home buyers. Here’s a good rule of thumb: If you haven’t used the item in more than 6 months, it’s probably time to get rid of it.

Stay In-The-Know About Market Activity. In this kind of economy, the New Albany housing market is a constantly changing and evolving arena. To ensure that you don’t get left behind as a home seller, make sure you stay on top of market activity. Our ***** can help you with this goal.

Sell Your New Albany Property Today

For more information on the best way to navigate the New Albany real estate market as a home seller, contact us, Kate & Tony Thomas, today.

As experienced Central Ohio REALTORS, we’ll tell you about other things you can do to ensure a successful outcome on the market.

We’ll also provide you with a number of helpful (and FREE!) home selling tools, such as:

• Preparing Your Home for Sale
• Selling Your Home
• How Much is My Home Worth?

Until next time,

Kate & Tony

After all, the results of the home inspection could make or break the sale of their Central Ohio home.

The good news is that there are ways in which a New Albany home owner can prepare for the upcoming home inspection.

Continue reading to learn more!

New Albany, Ohio Properties for Sale

As most home sellers know, many home buyers will hire a professional home inspector to look over the home before closing on their new purchase.

Sometimes, if a problem is found during the home inspection, it can delay the closing for weeks.

Luckily, there are certain preventative steps that home sellers can take to ensure that the home inspection goes smoothly.

One of the most important steps they can take is to make repairs to the following areas before an inspection ever occurs. That’s because these areas are known to cause the most concern among home buyers:

• Mold & Mildew: Home buyers are very cognizant of the health issues associated with these two growths, especially toxic black mold. If it’s present in your home, you may receive a less-than-ideal offer on your home. Thus, make sure you remove any before an inspection.
• Water control issues in basements and crawlspaces: Generally the smell of mildew in one of these rooms is an indication that it’s too moist. To reduce moisture levels in your basement, consider covering any areas of exposed grown with plastic. You may also consider checking out your drainage system to make sure it’s not exacerbating the problem.
• Problematic Roofs: This is a huge area for home buyers and can certainly prove costly for home sellers should a home inspector discover a problem. The most common issue related to roofs is deteriorated shingles as well as rotted materials underneath the shingles. Make repairs on this important part of the home before the home buyer schedules the inspection.
• Plumbing Issues: Leaks can wreak havoc on a home and cause considerable damage. The home inspector will do a number of things around your home to locate any potential leaks, including checking water pressure in the bathroom and running the dishwasher. They will also check the septic system. Thus, make sure to get these issues addressed well before the inspection occurs.
• Electrical Problems: Home inspectors are looking for inadequate electrical panels and circuit breaker configurations. Make sure that your electrical system is fully functioning.
• Miscellaneous Inspection Areas: Additional areas that the home inspector will check are the heating and air conditioning systems, the home’s foundation and the home’s various appliances that would come with the house.

One more thing about home inspections for now: Your contract should tell you which systems are expected to be in good working order at the time of closing. This will help you even more to prepare for the closing.

We Can Help You Sell Your New Albany Home in a Timely Manner!

We understand just how important the home inspection process is. That’s why we are always happy to share with interested Central Ohio home sellers like you our expert advice on how to pass a home inspection.

Contact us, Kate & Tony Thomas, today to learn more about how we can help you reach a favorable outcome on the New Albany real estate market as a home seller.

Until next time,

Kate & Tony

Here’s why: If the price is too high, buyers will not likely even take the time to consider your home.  If the price is too high, a Realtor may use your home to sell a similar but better priced home.

And since you have the most number of showings during the first couple of weeks after being listed, you won’t get those buyers back if you end up dropping the price several months down the road.

On the flip side, you don’t want to set your list price too low because then you may lose some of your potential profit.

As your New Albany real estate experts, we understand how important it is to set the right list price on your Central Ohio home and are here to help you find the best possible list price for your home.

Continue reading to discover our tips for getting your list price right the first time around!

Central Ohio Homes for Sale

The common mistake that many New Albany home owners make is setting their list price too high.

Home sellers will often feel justified in setting a high list price because of any one of these reasons:

• They’ve invested in a number of home upgrades which they feel adds significant value to their home
• They are trying to recoup their original price regardless of any change in the market.
• They want that extra room to negotiate down the price if necessary

Unfortunately, by setting their list price too high, home sellers often end up shooting themselves in the foot.

Here’s what happens when your home’s list price is too high:

• You won’t get an offer within the first few weeks of listing your home, which is the best time to sell your home
• After a couple of weeks of being on the market, your home will get fewer and fewer showings because buyers will view your home as a stale listings. Thus, it will be that much harder to sell your home.
• You will miss home buyers searching in the price bracket that your home really belongs because you set the price too high, causing your home to fall in a different bracket.
• You’ll help your neighbor sell his home before you sell yours. That’s because buyers may look at the two comparable homes and see your neighbors home as a bargain next to your over-priced home.

Even when you decide to lower your home’s list price, you may be disappointed to find it doesn’t generate the interest you’d hope for.

That’s because buyers are more drawn to “New Listings” alerts than “Recently Reduced” alerts.

In fact, for some buyers, “Recently Reduced” alerts may say to them that something is wrong with your home, decreasing the chances that they’re willing to buy your home.

On the other hand, here’s when you know you’ve set the right list price on your New Albany property:

• You sell your home quickly and with relative ease
• Your home immediately gets a lot of scheduled showings, giving it more exposure
• Plenty of Realtors call to gather information about your home for their home buyers
• Your sales price is very close to what your original asking price was.

List Your New Albany Property for Sale Today!

Determining the right list price on your New Albany home can be a difficult thing to do, especially if you’re not working with experienced Central Ohio REALTORS like us.

So if you would like to sell your home in as little time as possible and for the best price possible, contact us, Kate & Tony Thomas, today.

While you’re at it, make sure to check out all of the incredible home selling resources we offer to sellers online, such as:

• Preparing Your Home to Sell
• Selling Your Home
• Market Snapshot
• How Much is My Home Worth?
• And more!

Until next time,

Kate & Tony

Then you’ve come to the right New Albany real estate website!

Below, we’ve compiled a list of just some of the fun community events that you and your family may enjoy during the month of April.

Hope to see you at one of these community events soon!

Check Out These Upcoming Community Events in Central Ohio

Capitol Steps: This politically-aware group of performs take newspaper headlines from recent weeks and morph them song parodies and outrageous skits. This is sure to be appealing to anyone with a finger on the pulse of what’s going on in Washington!

• When: 8 p.m. on April 13
• Where: Jeanne B. McCoy Center for the Arts, 100 W. Dublin-Granville Road in New Albany
• Admission: $20 to $30
• More Info: Call 614-6545-0642

Symphony Performance: The New Albany Symphony will share a performance with the public titled “The New World.” Those residents who arrive early to the performance will have a chance to participate in a silent auction!

• When: 7 p.m. on April 15
• Where: Jeanne B. McCoy Center for the Arts, 100 W. Dublin-Granville Road in New Albany
• Admission: $12 to $20
• More Info: Call 614-323-1237

Paws in the Plaza: Come bring your best four-legged friend to this outdoor festival, which will feature river walks, pet-friendly shops and visiting pet vendors! Other exhibits that are likely to be there include free nail trimmings, caricature artists, giveaways, rescues, and more!

• When: 4:30 to 8 p.m. on Thursdays from April 5 to November 1
• Where: Mill Street and Creekside Plaza, 123 Mill Street in Gahanna
• Admission: FREE
• More Info: Call 614-418-9114

Homemade Crafts: Come learn how to make homemade soap during this Make & Take Craft event at the Ohio Herb Education Center. During the class, participants will mix essential oils and other simple ingredients to create a home cleanser.

• When: April 4 to 28; times vary
• Where: Ohio Herb Education Center, 110 Mill Street in Gahanna
• Admission: $5
• More Info: Call 614-342-4380

Your New Albany, OH Real Estate Experts

We hope you and your family are able to find the time to attend one of these interesting community events going on in Central Ohio in April.

If you do, let us know what you thought of it!

For more ideas on fun events going on in the area, check back in to our New Albany real estate blog.

And if you’re considering buying or selling a New Albany property any time soon, be sure to contact us, Kate & Tony Thomas!

Until next time,

Kate & Tony

If so, then you’ve come to the right place!

Today, we’re going to tell you about the important questions that you as a home buyer should ask throughout the New Albany real estate transaction process.

Continue reading for these invaluable home buying tips!

New Albany Homes for Sale

When you decide that you’ve found the New Albany home of your dreams, here are three factors you should address right away:

• Location of the home
• Condition of the home
• Your offering price

Let’s break these down further.

First, let’s consider the location of the home. Here are some questions you may want to ask when searching for your dream Central Ohio home:

• What schools is the neighborhood zoned for?   The good news in New Albany is that regardless of where you live, all school-age children go to the same schools.  New Albany has a central education campus.  Check out our helpful public school search feature to learn about various schools in the area. 
• How close is the home to major thoroughfares? Many Central Ohio home buyers want to live in a place that puts them conveniently close to their jobs as well as recreational amenities in the surrounding area.  Again, New Albany is conveniently located to all the major thoroughfares, shopping and the airport.  
• Where is the home located price-wise  within the neighborhood? Generally speaking, from an investment point of view, it’s better to be in the less expensive range rather than the top end of  the neighborhood.  

Now let’s look at the condition of the home. Here are some questions you should ask about the condition of the New Albany home you’re thinking about buying. Certain conditions may affect how much you’re willing to spend on the home.

• How old is the roof and other mechanicals in the home? Typically roofs last anywhere from 15 to 50 years, depending on the quality of construction materials used. As some of the homes in New Albany are approaching 20 years, it’s good to consider the age of the mechanicals as well (HVAC, Hot Water Heater, Sump Pump, etc…)
• How recently have the home appliances been replaced? If they’ve been recently updated, that’s a good thing for you as a home buyer because it means you won’t have to deal with those replacement costs for a while.
• How much remodeling do you need to do to be comfortable in the home?  Some buyers enjoy home remodeling and often can purchase a home for less if they are willing to update, neutralize, or finish a lower level.  If this is not you, then look for a home you can move right into. 

When it comes to the offering price on a Central Ohio home for sale, you as a home buyer need to figure out whether that price is true to market value. So ask yourself these questions:

• How much does the seller owe on the home? If the seller owes more on the house than the asking price, you’re looking at buying a short sale, which can sometime be a lengthy process.
• How much are similar homes selling for in the area? This will give you one of the best indication of what kind of offer you should make on the house.
• How long has the home been on the market? The longer the home has been on the Central Ohio market, the more leverage you have as a home buyer to ask for a discount.

Start Searching for Your Dream New Albany Home Today!

I hope you have found the above information helpful as an interested Central Ohio home buyer.

For more exclusive tips on the best way to navigate the New Albany area real estate market, contact us, Kate & Tony Thomas, today!

Until next time,

Kate & Tony

“How Old Are Your Accessories?

If your accessories were around when you were tuning in to Seinfeld – and not the reruns, you need an update.  Today’s trend for accessories are larger in scale and fewer in number than in years past. If you are a collector, group like items together for a more cohesive and less cluttered look.  Faux florals and greenery are great when they are clean, higher end and not overdone. Throw away that old Ficus tree in a wicker basket and replace it with a tall Areca palm in a glazed container.  And be prepared to spend a little more than you think feels right on accessories if you need to replace a lot of them.  I advise clients that an accessory budget is usually 20-30% of your room’s overall investment.”   

By knowing your non-negotiables when it comes to your dream home, you’ll quickly weed out the homes for sale that don’t match your criteria.

This will ultimately save you both time and money as you navigate the New Albany real estate market.

Continue reading to discover various criteria that you should consider when looking for your dream home.

New Albany Properties for Sale

Here are some common home buying parameters that will help find the New Albany home of your dream more quickly.

Location: Cul-de-sac versus corner lot

• Pros of owning a Cul-de-sac lot: It’s an excellent choice for young families with small children.
• Cons: Many home buyers perceive that cul-de-sacs mean there’s less privacy amongst neighbors.
• Pros of owning a corner lot: Typically corner lots are larger and they have fewer neighbors
• Cons: There’s more traffic noise. Plus, the chances of someone accidentally driving on your grass are higher.

Home type: Single-family home versus condo/town home

• Pros of owning a single-family home: Your home will likely enjoy great appreciation. In addition, single-family homes are more private and quieter.
• Cons: Typically they’re more expensive both upfront and in terms of maintenance costs.
• Pros of owning a condominium or town home: They’re generally less expensive. In addition, they’re lower maintenance than a single-family home.
• Cons: There’s less privacy and you don’t have as much noise control. Plus, you sometimes don’t get a private yard or balcony with these home types.

Story Height: Single vs. multiple story home

• Pros of owning a single-story home: It’s the preferred style for those who need wheelchair access. Also, it’s easier to clean.
• Cons: Some home owners feel safer if their bedroom is located on a second-story. Also, a greater portion of the lot is occupied by the one-story home, which generally has a ranch style.  Ranch style homes tend to cost more because it has a larger footprint than a 2 story home.
• Pros of owning a multiple-story home: Home owners have more living space. Residents can have bedrooms on the second floor.
• Cons: Residents will have to use the stairs to access part of their home, which may not be good for people with bad knees or other health ailments. Also, room temperatures may be inconsistent throughout the house unless the home owner invests in dual heating and cooling units.

Miscellaneous factors to consider

• Number of bedrooms/bathrooms: Depending on your needs as a family, you may want anywhere from 2 bedrooms to upwards of 5; most home buyers prefer a minimum of 2.5 baths.  Location of bedrooms is a personal choice – lower level bedrooms are less desirable than above grade but are a great way to expand the sleeping quarters in a home.
• Square footage: How much space does your family need to live comfortably? When considering that question, remember that cost-per-square-footage is less on larger homes than smaller ones. Also, consider whether the home’s layout effectively uses the home’s square footage or not.

Your New Albany, Ohio REALTORS

We hope you found the above information helpful as a New Albany home buyer.

As you can see, there are a lot of factors you should consider before you even begin looking for your dream New Albany home!

For more helpful tips on how to effectively navigate the New Albany real estate market as a home buyer, contact us, Kate & Tony Thomas, today!

Until next time,

Kate & Tony

From marketing expertise to knowledge about the ins and outs of the housing market, there are plenty of reasons to work with a REALTOR when searching for your dream home.

Continue reading to discover some of the top reasons why so many New Albany home buyers turn to us, Kate & Tony Thomas, for help.

New Albany, Ohio Real Estate Experts

Here are just some of the benefits that you as a home buyer will enjoy when you work with New Albany real estate experts like us, Kate & Tony Thomas:

• Real Estate Experience. While it’s true you can learn a lot about the real estate transaction process from the Internet and books, you’re not likely to learn everything that we have during our many years of working on the New Albany real estate market. That expert knowledge can prove invaluable as you comb through the New Albany real estate market searching for a great deal on your next dream home.

• Knowledge About New Albany Neighborhoods. Although real estate agents are prohibited by law to disclose information on schools, crime and demographics, we can tell you about where you can find that information as a prospective home buyer. Plus, we can provide you with a comprehensive report on what homes are selling for in a neighborhood. This will ensure that you’re in a reasonable price range when you make an offer on a home in that neighborhood.

• Knowledge About New Albany Market Conditions. Every month, I provide home buyers with a full report on New Albany housing market conditions, including the average list price as well as the median sales price on area homes. This information governs what your offer price will be on your dream New Albany home.

• Professional Network: From home inspectors to interior decorators, we have built a network over the years with professionals who often work with new home owners. When you work with us, we’ll be able to put you in contact with these preferred vendors, who have built a reputation for quality and efficiency.

• Closing Experience: As New Albany REALTORS, we have extensive experience negotiating for a great sales price for our home buyers. We know the ins and outs of the housing market and will use that to your advantage in order to get you the best deal on your New Albany home.

• We Make Home Buying Hassle Free: Home buying can be a tedious process, especially given all the paperwork that it involves. As your New Albany real estate experts, we’ll make the home buying process as easy for you as possible by explaining the various legal forms to you and answering any questions you may have. We’ll also make sure these forms and documents get where they need to go for you!

Investing in a New Albany Home for Sale

If you’re thinking about investing in a New Albany home and would like the expert guidance that only a REALTOR can provide, then contact us, Kate & Tony Thomas, today!

We’ll be happy to answer any questions you may have, let you know about available listings and provide you with a number of home buying resources, including:

• Planning your move
• Moving with kids
• Request a relocation guide

Until next time,

Kate & Tony