columbus real estate market: February 2018 Hilliard Real Estate Market Report - 04/03/18 05:31 PM
February 2018 Hilliard Real Estate Market Report
Real estate market data for Hilliard, OH  provided by Jim West of Keller Williams Capital Partners.
Hilliard Ohio Home PricesHome prices in Hilliard and central Ohio have hit an all time high and don’t expect things to slow down anytime soon.  If you are considering buying a home you can still find deals on a house in Hilliard but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can … (0 comments)

columbus real estate market: The Cost of Renting vs. Buying Today [INFOGRAPHIC] - 04/02/18 08:06 PM
The Cost of Renting vs. Buying Today [INFOGRAPHIC]
Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious. Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!
You might also enjoy reading... The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] 4 Reasons Spring is a Great Time to Buy a Home! Is Now a … (1 comments)

columbus real estate market: 99% of Experts Agree: Home Prices Will Increase - 03/30/18 06:27 PM
99% of Experts Agree: Home Prices Will IncreaseSome believe that the combined effects of the new tax code and rising mortgage rates will have an adverse impact on residential real estate prices in 2018. However, the clear majority of recently surveyed housing experts believe that home values will continue to rise this year.
What is the Home Price Expectation Survey?Each quarter, Pulsenomics surveys a nationwide panel of economists, real estate experts and investment & market strategists. Those surveyed include experts such as:
Daniel Bachman, Senior Manager, U.S. Economics at Deloitte Services, LP Kathy Bostjancic, Head of U.S. Macro Investors Service at Oxford Economics David Downs, Real Estate Finance Professor at VCU Edward Pinto, Resident Fellow at American Enterprise Institute … (4 comments)

columbus real estate market: Buyer Demand Still Outpacing the Supply of Homes for Sale - 03/30/18 06:19 PM
Buyer Demand Still Outpacing the Supply of Homes for SaleThe price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).
Buyer DemandThe map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.
Seller … (1 comments)

columbus real estate market: 5 Reasons Why to Sell This Spring! - 03/30/18 06:15 PM

5 Reasons Why to Sell This Spring!
Here are five reasons listing your home for sale this spring makes sense.
1. Demand Is StrongThe latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition NowHousing inventory has declined year over year for the last 32 months and is still under the … (2 comments)

columbus real estate market: Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices - 03/29/18 01:16 PM
Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home PricesRecently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year.
Many believe that an increase in mortgage rates will cause a slowdown in purchases which would, in turn, lead to a fall in house values. Ultimately, however, prices are determined by supply and demand and while rising mortgage rates may slow demand, they also affect supply. From the report:
 “For current homeowners, the decision to buy … (0 comments)

columbus real estate market: Are You Aware How Much Equity is in Your Home? You May Be Surprised! - 03/26/18 05:26 PM

Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised!CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation.
“U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2%, year over year.”
Price Appreciation = Good News for HomeownersFrank Nothaft, CoreLogic’s Chief Economist, explains:
“Home-price growth has been the primary driver of home-equity wealth creation. The … (1 comments)

columbus real estate market: Just Sold in 3 days - 03/24/18 09:16 AM
MI Rockwell floor plan. All bedrooms have walk in closets. Kitchen has 42'' cabinets, granite counter tops and tile back splash. Open floor plan. Dining room currently used as an office. Spacious lot with 20' X 25' patio. All bedrooms are very spacious. Full basement could easily be finished. Deluxe master with vaulted ceiling, over sized shower with garden tub.
Search All Homes For Sale Follow This Home! Free Home Values Homes Close to Where You Work Avoid Foreclosure Schedule a Showing/Request Info Presented By: James West Keller Williams Capital Partners
614-507-5732
  … (3 comments)

columbus real estate market: Sold in 24 Hours and over list price - 03/24/18 09:13 AM
1557 Creekview Dr, Marysville, OH Get Directions Click Here Description Photos Maps & Local Schools Print Brochure My Reviews $ Click for current price 3 BEDROOMS | 2.5 (2.5 full ) BATHROOMS | 1140 SQUARE FEET Very clean and well maintained home. Great location. Lot backs up to trail and creek. No homes behind this location. There is an eagle nest in the tree line behind this home. Large fenced in yard with recent stain. 2 year old roof. Full basement with full bath rough in. Patio and extra storage building. Close to elementary and middle schools.
Get the Closing Price! … (2 comments)

columbus real estate market: The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] - 03/22/18 05:33 PM
The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]
Some Highlights: Interest rates are projected to increase steadily heading into 2019. The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be. Rates are still low right now. Don’t wait until rates hit 5% to start searching for your dream home!
You might also enjoy reading... Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling! Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC] Mortgage Rates on FIRE! Home Prices Up in Smoke? Homeownership: … (1 comments)

columbus real estate market: Moving up Is MORE Affordable Now Than Any Other Time in 40 Years - 03/21/18 06:21 PM

Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years
If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed.
Last week, Trulia posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years (1975-2016). Their research revealed that:
“Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In 1980, the … (0 comments)

columbus real estate market: You Can Save for a Down Payment Faster Than You Think! - 03/20/18 05:47 PM
You Can Save for a Down Payment Faster Than You Think!
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of … (1 comments)

columbus real estate market: A New Housing Bubble Forming…Not Before 2024! - 03/15/18 06:34 PM
 

A New Housing Bubble Forming…Not Before 2024!
A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008.
 
Recently, several housing experts weighed in on the subject to alleviate these fears.
 Sean Becketti, Freddie Mac Chief Economist  “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.”
Edward Golding, a Senior Fellow at the Urban Institute’s Housing Finance Policy Center  “There is … (1 comments)

columbus real estate market: Home Prices: The Difference 5 Years Makes - 03/14/18 05:29 PM

Home Prices: The Difference 5 Years Makes
The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.
One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.
Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state,
“Homeowners in the United States experienced a run-up … (1 comments)

columbus real estate market: Competition is Coming, Are You Thinking of Selling Your Home? - 03/13/18 05:52 PM
Competition is Coming, Are You Thinking of Selling Your Home?
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.
How will this impact buyers?More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily … (0 comments)

columbus real estate market: Housing Market Expected To “Spring Forward” This Year - 03/13/18 05:38 PM
Housing Market Expected To “Spring Forward” This Year
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.
That hasn’t happened this year.Demand for housing has remained strong as … (0 comments)

columbus real estate market: 4 Reasons to Sell This Spring [INFOGRAPHIC] - 03/12/18 05:25 PM
4 Reasons to Sell This Spring [INFOGRAPHIC]Some Highlights: Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available! Housing inventory is still under the 6-month supply needed to sustain a normal housing market. Perhaps the time has come for you and your family to move on and start living the life you desire.   Ready to sell now. Get your instant home value in 15 seconds or less
You might also enjoy reading... Top 5 Reasons to Hire a Real Estate Professional When … (1 comments)

columbus real estate market: Are Home Values Really Over Inflated - 03/10/18 06:50 PM

Are Home Values Really Over Inflated?
Last week, the National Association of Realtors (NAR) released their most recent Existing Home Sales Report. According to the report:
“The median existing-home price for all housing types in January was $240,500, up 5.8 percent from January 2017 ($227,300). January’s price increase marks the 71st straight month of year-over-year gains.”
Seventy-one consecutive months of price increases may have some concerned that current home values may be overinflated.
However, at the same time, Zillow issued a press release which revealed:
“If the housing bubble and bust had not happened, and home values had instead appreciated at a steady pace, the median home value would be higher than its current value.”
Here … (1 comments)

columbus real estate market: It’s Tax Season Use Your Refund & Jump Start Down Payment Savings! - 03/07/18 05:47 PM
It’s Tax Season… Use Your Refund to Jump Start Your Down Payment Savings!According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.
Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals; for anyone looking to buy a home in 2018, this can be a great jump start toward a down payment!
The map below shows the average tax refund Americans received last year by state. (The refunds received for the 2017 tax year should … (0 comments)

columbus real estate market: Latest NAR Data Shows Now Is a Great Time to Sell! - 03/05/18 04:48 PM
Latest NAR Data Shows Now Is a Great Time to Sell!
We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house.
Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.
REALTORS® CONFIDENCE INDEXEvery month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that homebuying demand continued to outpace the supply of homes … (1 comments)

 
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Jim West

Our Passion Is Helping 1st Time Home Sellers

Marysville, OH

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