“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

Sales of single family homes in New Albany in 2011 exceeded 300 units for the first time in 6 years. 344 homes sold in New Albany this year compared to 274 homes sold last year. 2005 was the last year New Albany saw home sales in this range. I don’t know if this is the new “normal” but it certainly indicates that our market has probably hit bottom and hopefully on the upswing.

If you are one who has chosen to remain on the sidelines these past few years, this is a good time to consider jumping back in! As a seller, the inventory is lower than I can ever remember it being. It’s 38% below where it was at this time last year. As a buyer, prices and interest rates remain low though with the diminished number of homes for sale in New Albany, we may begin to show signs of prices rebounding in 2012. Call us to discuss your particular New Albany real estate situation. The chart below is the Year End results for the major neighborhoods in New Albany, Ohio. If your community is not included, just let us know. We will send you the comparable information for your neighborhood.

New Albany 2011 Year End Review

2012 could be your year to make a move… let us be part of it! Stay in touch and we’ll do the same! 

Continue reading to learn more about the latest market trends in New Albany, Ohio and how it may affect you as a home seller.

New Albany Properties for Sale

Here’s an overview of the current state of the New Albany real estate market:

• Currently there are 115 resale and new homes on the market, a historic low in New Albany School District.
• Between October and December, the median sales price for homes in the New Albany School District was $422,800 which is up from the same period last year.
• Here’s how nearby cities stacked up during that same period in terms of average sales price:
• Gahanna Jefferson: $190,000
• Westerville:  $178,500
• Olentangy: $323,000
• Dublin: $311,300
• Upper Arlington:  $297,000
• Bexley: $78,800
• During the year ending December 31, the average listing price for New Albany homes was $554,500.

New Albany Homes for Sale

Knowing what homes are being listed for and what homes are selling for is just the tip of the iceberg when it comes to housing market activity.

For a more comprehensive overview of the current state of the New Albany real estate market – as well as where it’s headed in 2012 – contact us, Kate & Tony Thomas.

We’ll be happy to provide you with our expert advice on how to navigate the market as well as answer any questions you may have.

Until next time,

Kate & Tony

Today, we’ll continue the series by telling you about the pros and cons of owning a resale home on the New Albany real estate market.

Investing in New Albany, Ohio Real Estate

Although it may seem that buying a new construction home would be the superior investment, there are actually plenty of reasons why home buyers choose resale homes instead.

Here are some of the advantages of buying a resale home:

• You’ll be able to enjoy a yard with lush landscaping and established trees immediately.  When you buy a new construction home, you’ll likely have to invest in the initial landscaping yourself.  Not only can that be costly, but it can also be years before you can fully enjoy the fruits of your investment.  If you prefer to live somewhere that already has a canopy of trees overhead and lush landscaping, resale homes are the way to go.

• You may inherit some appliances and window treatments from the previous owner.  Often times, home buyers successfully bargain with sellers to throw in the fridge or washer and dryer with the purchase of the home.  You may not have that bargaining option with a new construction home.

 New Albany Resale Properties

Yet, home buyers should be aware that there are also some drawbacks to buying an existing property.

Here are some of the disadvantages that you should know about before entering the New Albany real estate market:

• You may be investing in an outdated floor plan. Like anything else, the trends that dictate the housing industry change over time.  Dated floor plans may prove to be less convenient or efficient than more modern layouts.

• You’ll have to pay to get your home inspected. Because you aren’t the only person who has ever lived in the home, you’ll want to invest in getting your home inspected for mold, plumbing and wiring issues and more at some point.

• Eventually you’ll have to buy all-new appliances.  While it’s great that sellers will often throw in their appliances with the purchase of the home, those appliances will eventually get to old to use.  That means that at some point down the road, you’ll have to foot the bill for all-new appliances.

Your New Albany REALTORS

We hope that you have found our series on new construction versus resale homes helpful as a home buyer.

After all, the sooner you can narrow down the search for your dream New Albany home, the more time and money you’re likely to save in the process.

When you’re ready to take that next step toward investing in New Albany real estate, contact us, Kate & Tony Thomas.

As your Central Ohio real estate experts, we’ll be happy to answer any questions you may have and offer you such invaluable home buying tools as:

• Making an offer
• The closing process
• Relocation resources

Until next time

Kate & Tony

Since we found the list quite helpful and relevant, we wanted to share it with you.

If you’re a New Albany home buyer, continue reading to discover what every home buyer should know before entering the Central Ohio real estate market.

Investing in New Albany Real Estate

Here are some of the facts that CNN Money said every home buyer should know before investing in a New Albany home:

• Plan to Stay in Your New Home for at least a Couple of Years.  Given the cost of buying and selling a home, it may not be cost effective to own New Albany real estate if you just plan on leaving after a year or so.  Thus, plan on living there for at least a few years to get the most out of your investment.

• Make Sure Your Credit is in Good Standing.  Unless you’re independently wealthy, you’ll likely have to take out a mortgage to buy your next home.  You want your credit to be good to ensure you get the best rates possible.  Consider requesting a copy of your credit report a few months before you enter the housing market to make sure all the information is accurate.

• Start Looking in the Right Price Range from the Get Go.  By being realistic about the price range you can afford early on, you’ll ultimately save yourself a lot of time and heartache.  One general rule of home buying is to only look at homes that are 2.5 times your annual salary or less.

• Even if you can’t put 20 percent down, you may still qualify for a loan.  Many public and private lenders out there will offer low-interest mortgages for down payments as small as 3 percent.

• Consider Which Schools Your Neighborhood is Zoned For.  Even if you don’t have children, it’s important to pay attention to the schools for which your home is zoned.  That’s because this will help determine how easy it is for you to resale your home down the road.  In addition, quality schools in the area help to increase home values.  Check out which New Albany School information by checking out our New Albany School Report Card.

Your New Albany REALTORS

Join us next time as we reveal the second half of CNN Money’s Top 10 List of Things Every Home Buyer Should Know.

For more tips on how to effectively navigate the New Albany real estate market, make sure to contact us, Kate & Tony Thomas.

As your New Albany REALTORS, we’ll be happy to answer any questions you may have as well as offer you our expert real estate advice.

Ready to start searching for your dream New Albany home today? Check out some of our user-friendly search options:

• Search New Albany homes under $200,000
• Search homes between $200,000 and $400,000
• Search homes between $400,000 and $600,000
• Search homes between $600,000 and $800,000
• And more!

Until next time,

Kate & Tony Thomas

According to a recent article, the city recently received an economic development award from the Ohio Chapter of the Commercial Real Eestate Development Association.

The award is given to communities that are committed to promoting development in the community.

Living in New Albany

The organizations said New Albany has done a great job of attracting business and development to the area with infrastructure and business incentives.

While other central Ohio communities have received this award in the past, it’s special that New Albany received it this year given the sluggish economy.

Experts say that this award signals that New Albany is committed to development and progress, even in the face of a less-than-ideal economy.

According to some estimates, the city has invested about $24 million in infrastructure to attract development to the area.  It’s also invested $3 million to create a comprehensive fiber-optic network in the city to help new businesses stay connected.

In all, the various projects throughout the city have created 3,500 jobs in the city since 2009.

New Albany Real Estate

All of the development in the area benefit New Albany residents in multiple ways.

In addition to creating jobs and amenities throughout the city, these developments have spurred a lot of activity on the local housing market.

Just check out the most recent real estate data for the New Albany Plain Local School District:

• Between 2010 and 2011, the average sales price rose from $339,048 to $377,381, a 11.3 percent increase.
• The inventory of home sales dropped, from 282 homes to 197.  This caused the supply to drop from a 10.6 months supply to 6.1.
• Year-to-date, the number of closed sales has increased from 262 homes in 2010 to 318 homes in 2011.

Your New Albany REALTORS

As we noted before, this is an excellent time to be a New Albany home seller.  Recent market data suggests that more home buyers are entering the market looking for their dream home.

As demand for Central Ohio homes increases, the supply of homes will likely decrease.  This gives home sellers an advantage in when it comes to setting their price.

If you’re interesting in listing your home but want help successfully marketing it on the New Albany real estate market, contact us, Kate and Tony Thomas.

We’ll answer any questions you might have as well as provide you with a number of home selling tools, including:

• Market snapshot
• How much is my home worth?
• Special Report

Until next time

Kate & Tony Thomas

Evidently, both home sales and home sales prices have been on the rise lately.

Continue reading to learn more about the latest trends on the New Albany housing market, and how they may affect you as a New Albany home buyer.

New Albany Homes for Sale

Here’s an overview of the current state of the New Albany real estate market based on recent market data:

• Currently there are 286 homes for sale.
• Between August and October 2011, the median sales price for a New Albany home was $305,000, which represents an 18.4 percent increase when compared to the same period last year.
• Last year, the median sales price was $257,500.
• During the week ending on November 2, the average price per square foot for a New Albany property was $157, which represents a 33.1 percent increase when compared to last year.
• During that same week, the average listing price for homes was $394,553, which is a 1.8 percent decrease when compared to the week before.
• Here’s how nearby markets stacked up in terms of average listing prices during that same week:

- Gahanna, Ohio: $195,597
-Westerville, Ohio: $246,323
-Pataskala, Ohio: $188,683
-Whitehall, Ohio: $109,092
-Reynoldsburg, Ohio: $138,261

This recent market data suggests that now is a great time to be a New Albany home buyer.  As the number of home sales continues to rise, so will sales prices.

Thus, if you’re looking to get a great deal on a New Albany property for sale, then we recommend you enter the market soon.

Investing in Real Estate

As your New Albany real estate experts, we believe that knowledge is power.  That’s why we work hard to provide interested home buyers with the most up-to-date market information each month.

That way you have a realistic and comprehensive view of the current state of the market, which will ultimately make you a savvier home buyer.

If you’d like to learn more about how we make navigating the market easier for New Albany home buyers every day, contact us, Kate and Tony Thomas, today.

We’ll be happy to answer any questions you might have as well as provide you with such helpful real estate tools as:

• New Albany home finder
• Relocation resources
• Buying a home
• And more!

Until next time,

Kate & Tony

If you’ve been thinking about relocating to central Ohio, I recommend you check out some of these family-friendly activities.  It will give you a good idea of why so many people consider New Albany such a special place to live.

Enjoy These Family-Friendly Activities This Month in New Albany

Here is just a sampling of some of the holiday-themed events that you and your family could enjoy as New Albany residents this year:

Holiday Spectacular: Enjoy this annual holiday concert featuring the New Albany Symphony Orchestra and the Columbus Children’s Choir. Arrive early for your chance to purchase a Gift Box and to enjoy some pre-concert activities with the kids. You can even bring a canned food item to support the Mid-Ohio Food Bank.

•  When:  3 to 5 p.m. on December 18
• Where: Jeanne B. McCoy Community Center for the Arts
• Admission: $11 to $22
• More Info: Call 614-245-4701

Holiday Lights Show: Enjoy the magic of the holiday season at this holiday light show in Gahanna.  During this annual holiday event, visitors enjoy a holiday parade, the holiday tree lighting and even a visit with Santa Claus!

• When: November 12 to January 2
• Where: Olde Gahanna and Creekside, 123 Mill Street in Gahanna
• Admission: FREE
• More Info: Call 614-418-9114

Dr. Seuss’ How the Grinch Stole Christmas:  On the 45th anniversary of the holiday classic, visitors can view 44 original production cells, animation sketches and even behind-the-scenes photos from this film.

• When: Now through January 4
• Where: Franklin Park Conservatory and Botanical Gardens, 1777 E. Broad Street in Columbus
• Admission: Adults $11. Seniors and students $9. Children $6. Children under 2 free.
• More Info: Call 614-645-8733

The Nutcracker:  Many people connect the holiday season with this classic ballet, which tells the story of young Clara and her Nutcracker Prince.  Now you and your family can enjoy this enchanting ballet in person at the Ohio Theatre, which will have performances of The Nutcracker throughout the month.

• When: Now through December 23; Times vary
• Where: 39 E. State Street in Columbus
• Admission: Prices vary
• More Info:  Call 800-745-3000 or 614-469-0939

 Investing in New Albany, Ohio Real Estate

Stay tuned next week when we’ll tell you about even more holiday activities going on in the New Albany, Ohio area.

If you get a chance to attend one of the events I mentioned above, please let me know what you thought of it!

New Albany is a wonderful place to live – not just during the holiday season, but all year-round.  If you’re ready to take the next step toward making New Albany your permanent home, then contact us, Kate & Tony Thomas, today.

We’ll be happy to answer any questions you may have and let you know about available listings in the area.

Until next time,

Kate & Tony