Because of the significant variety of homes in the community, built by many builders across a few decades, sale prices have tended to vary by year and across all price ranges. It's probably true that emotion plays an even greater role than usual in a home purchase in "The Hills." Moreover, Hide-A-Way Hills Club (that's the legal name....commonly referred to as Hideaway Hills, HAH, or just "The Hills") contains both primary and vacation homes for members, and the potential market for each type can certainly vary according to the outside economy....for example, if buyers are enjoying solid returns on other financial investments they might be more apt to consider a second home. Or perhaps the vacation "market" might encourage people to stay closer to home....given the cost of gasoline and ease of travel, for instance. These influences can also be perceived or real, of course.
The majority of homes in HAH can be fairly considered as primary residences, although a number of those member owners might elect to spend a good portion of the year in warmer winter climates. Remember that HAH began its life as a vacation resort community in 1961, with many original buyers from the central Ohio area looking for a weekend getaway. As the years progressed, members retired and sold their primary homes in order to make HAH their primary residence....while also opting to maintain vacation homes in another area of the country. It's not at all unusual to find long-time HAH members who have owned more than a couple of homes in the community.
We sense a bit of a change in membership these days, as more potential members consider buying vacation property closer to home; this is true across the Hocking Hills Region, as well as in Hide-A-Way Hills. Although it may not appear dramatic, the change seems to be tending toward more "part-time" residence members. So "The Hills" might well be coming full circle, whereby more members are looking at it as a good choice for a vacation home. The Club does offer a good amount of water, and the 24-hour security can certainly be a major attraction for those who aren't living in their homes year-round. At the same time, the general spirit of community will always appeal to many people looking for primary homes....and, after all, HAH is very much a "small town" when all is said and done.
Looking at home sales under $300,000, and prices-per-square foot, the past few years have been relatively stable and positive overall. The average number annual sales of homes in this range has been in the low 30's, using information from the Columbus Board of Realtors Multiple Listing Service and assuming some additional transaction not handled by Realtors. The actual numbers below are taken only from the Columbus MLS, and are thus approximate:
2007 - $ 97/sq ft (27 solds)
2006 - $ 83/sq ft (31 solds)
2005 - $ 94/sq ft (29 solds)
2004 - $ 93/sq ft (30 solds)
2003 - $ 79/sq ft (34 solds)
2002 - $ 79/sq ft (44 solds) (*2004-07 saw an increase in the number of $300,000+ sales)
Please note that these figures will also be approximate as a result of occasional incorrect or unavailable information regarding square footage in MLS listings and/or public records. It's also worth noting that, because of the primary/vacation home reality, along with the age of the community itself, that many homes will see significant improvements or additions after purchase.
While the overall picture brightened significantly in 2007 (along with sales in the overall Hocking Hills Region), 2006 appeared to have been a off year for property sales in Hide-A-Way Hills:
50-100,000 100-150,000 150-200,000 200-250,000 250-300,000 300,000+
2007 $ 84.21 (4) $ 93.22 (14) $ 100.48 (4) $ 86.89 (3) $122.35 (2) $129.43 (3)
2006 66.69 (10) 82.16 (7) 82.62 (4) 78.93 (6) 106.07 (4) 134.53 (5)
2005 67.11 (7) 109.82 (12) 96.26 (5) 107.10 (5) -0- 133.70 (5)
*source: Columbus Board of Realtors Multiple Listings Service (MLS)...total sales in parentheses)
Across the board, sold prices-per-square foot decreased. Various reasons can be cited to explain this, including owners' needs for a quick sale (for financial or family reasons), or the need for significant repairs....along with what was probably the start of a declining market which hadn't yet seen the full impact of the opening of the Lancaster bypass for Route 33. Anyone who has owned property in HAH for more than 2-3 years can tell you horror stories about traffic and stop lights prior to the bypass. If you doubt the impact of the bypass, consider that visitor registrations in the Hocking Hills welcome centers were up over 20% from 2005 to 2006...and the Hocking Hills Tourism marketing budget was increased by two-thirds in 2007, largely funded by additional monies from the county's bed tax. Overnight lodging in Hocking Hills cabin rentals was also up by about 18%.
That does suggest an important point to note about Hide-A-Way Hills Club deed restrictions. Short-term rentals (less than 30 days) are prohibited, as the members have elected to limit the impact of "weekend renters" with an eye toward the impact on amenities and upkeep, as well as the overall environment. While there are still a handful of cabins/homes in HAH that can be rented on a short-term basis, recent legal agreement prevents them from being used as such once they are resold.....under the terms of the agreement, the small number of existing rental units at the time were "grandfathered" only until such time as the properties were acquired by a new owner. How this Club rule affects resale value depends very much on your plans and needs, and "investment" perspective. But while a member can certainly allow friends and family to make use of a vacation home, it cannot be used as a short-term rental cabin.
For those looking for major isolation and acreage, HAH might not do. Legally a private club, but in lifestyle a small town, it offers a self-contained yet "hideaway" atmosphere certainly well suited for those looking to live and work a bit more "communally" than normal. For those looking to live, either full or part-time, amidst the beauty of southeastern Ohio, there are definite points and counterpoints regarding privacy, security and amenities, area by area, parcel by parcel.
We've also learned a good amount of misinformation about Hide-A-Way Hills through our years as members, from prospective members who've "heard" from agents or others about how various things do or don't work in the community. Also worth noting is that marketing and selling (as well as buying) in HAH is certainly beyong the ordinary, and likely at least a bit more time consuming....there's simple much more to see, do, and consider before making a decision.
We tell prospective members that they can elect to be as social or as private as they prefer in Hide-A-Way Hills, although you do have to get used to seeing your neighbors....and having them at least wave at you or say hello. The Club is owned and operated by the members, so volunteerism has long been an essential hallmark of day-to-day living. The amenities are overseen by volunteer committees, and only members can serve on the Board of Trustees; there is no "company" or business entity that either owns or determines what happens in the Club. In 2007, members voted to approve annual monthly assessment increases for the next five years, to be based on the Consumer Price Index (CPI)....with an annual cap of no more than 5%. (69% of votes cast "for" the plan). Members also approved a one-time assessment for dam repairs required by the state, with that work to begin in 2008.
A comprehensive review and explanation of the story behind the story of Hide-A-Way Hills requires much more than a couple of pages of words and numbers, and we welcome any questions you might have...and will gladly provide you with copies of the various Club legal documents that are essential reading prior to buying property and becoming a member. Please call us for a no-obligation and up-close personal tour of the community....by far the best and fairest way to begin your process.
(If you're interested in visual evidence of the increased interest in the overall Hocking Hills Region, please take a look at our video of the Hocking Hills Winter Hike (1/19/08), or its companion Visual Tour. We found a cast of thousands, and on a quite cold winter morning!
©2008, Doug Parker, ikarensell Enterprises Inc. http://www.ikarensell.com
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