Tuesday, June 24, 2014

Get Prepared: Gahanna Homes are Selling FAST

Look no further than the most recent issue of The Columbus Dispatch to find the latest news about how fast homes are selling in Central Ohio.  The market is healthy all over Columbus, including right here in Gahanna.

If you are looking to buy a home in Gahanna, here are a few tips to better prepare yourself for a home buying process that is going to move a little quicker than normal:

1.  Know the market:  Reading this blog and reading news from the area will get you into the right mindset.  Be prepared to be decisive and move quickly.

2.  Get pre approved for financing:  I feel like I say this in most of my blog posts, but I cannot stress enough the importance of getting your finances in order prior to begin your home search.  So many issues can be avoided by starting out with a good lender.

3.  Trust a connected Realtor:  You need information as soon as it is available.  Not every other day, not whenever your Realtor has time, not ________.  You need to know about homes immediately, and you need to tour them immediately.  Make sure your Realtor has you set up with email alerts, text alerts, or whatever communication method is going to be best... It is crucial to be ahead of the pack.

4.  Don't rush:  Yes, I know I said that things go fast and you need to act quickly.  But, also keep in mind that there is no need to rush into a situation that isn't ideal.  Trust that more homes will hit the market if the one for you isn't out there.  If you've done #'s 1, 2, and 3 on this list, #4 is much easier!

Take care,
Scott Morrison
scottmorrison@kw.com

For information about selling your home click here

Saturday, June 21, 2014

I'll Market My Home When I find Something

This past week I listed a ranch home in Gahanna Heights.  The market in this particular subdivision is  very healthy and we received requests for multiple showings within hours of listing.  Less than 12 hours after going on the market, a buyer offered, and the home was in contract.

Since that time I've received a number of calls from people inquiring about the home.  Two of the calls were from folks interested in down sizing, needing to ditch the stairs and find a ranch.  Unfortunately, both of those calls also commented that they don't want to part with their current home until they find something they like... Not going to happen!

Because of the current market conditions, if you have a home to sell and are searching for your next home, you are setting yourself up for disappointment after disappointment.  Sellers today are not accepting contracts that are contingent upon the sale of a home (unless it is firmly in contract).  It just isn't necessary to lock yourself into a deal when there are plenty of buyers out there ready and willing to make an offer (even as quickly as the example I gave above).

So, if you are looking to move you'll need to:

1.  Get positioned for financing:  Speak with a Realtor about the pricing of your current home.  Speak with a lender about how much home you can afford considering the sale of your current home.

2.  Stage your home:  Tidy up, begin moving things out into storage if you have clutter, and be ready to list your home.

3.  Get your home on the market:  Price it right for the condition and you'll be moving soon!

4.  Start searching for the next home:  If you've priced your home correctly, you can reasonably expect to be in contract within 3-4 weeks, if not sooner.  If you find the next home and still aren't in contract, it's a race to find a buyer.

5.  Determine the best offer:  Offers with contingencies such as financing, inspections, and even closings of the buyer's current residence can hold up the closing of your home.  Offers without contingencies, or with fewer, are stronger because your future is more certain.

There is certainly much more involved than the steps above, but the bottom line is that you had better be ready to market your current residence before you move into the mindset of searching for the next one.  "I'll market my home when I find something" is a mindset that will only set you up for frustration.

Take care,
Scott Morrison
scottmorrison@kw.com

Take a look at properties for sale in Gahanna

Tuesday, June 17, 2014

Home For Sale in Gahanna Heights

299 Milan Drive


A GEM in Gahanna Heights!  Ranch style home with fully finished basement that includes an additional bedroom and bathroom.  It's a challenge to find something that hasn't been updated!  Fenced backyard with mature trees offers privacy while enjoying a beautifully landscaped lawn.  Walk to Creekside, Jefferson Elementary, and downtown Gahanna.

See more details of featured listings
                                     ** Please allow 24 hours for details of 299 Milan to sync with site

Showings are done by appointment only.  Please call or email to set up your tour!  Pre-qualified buyers only.  

Take care, 
Scott Morrison
614-383-8502
scottmorrison@kw.com

Search for additional listings in Gahanna here

Tuesday, June 10, 2014

New Gahanna Homeowners

NEW GAHANNA HOMEOWNERS!


Congratulations to Adam and Kristina on the purchase of their new home right here in Gahanna.  It is very exciting to watch anyone buy, and especially exciting for first-time homebuyers!  

Here's wishing you many years of happiness in your new home!

Take care, 
Scott



Sunday, June 8, 2014

OPEN HOUSE IN GAHANNA

OPEN HOUSE:  Sunday JUNE 8 from 2-4pm


Full listing details here:  1133 Black Gold

Where:  1133 Black Gold Place in Gahanna

Who:  Everyone is invited.  Neighbors, friends, family, buyers, sellers... all are welcome!  Bring a friend and don't forget to tell anyone that you know who may be interested to join as well!

Schools:  High Point Elementary, Middle School East, Lincoln High School

Directions:  From 62 (E. Johnstown) turn East onto Riva Ridge.  Turn right on Venetian Way, Left on Black Gold, Left into the cul-de-sac.  RED OPEN HOUSE signs are out throughout the neighborhood.  

I'll see you this afternoon!

Take care, 
Scott Morrison

Compare this listing to others on the market:  Gahanna Home Search

Saturday, June 7, 2014

How Much Home Can I Afford?

As I've written about many times, the first step towards home ownership is getting pre approved by a lender.  It's a simple process that defines the amount of home you can afford given your credit scores, debts, assets, employment, and income (among others).

One of the major factors in determining how much home you can afford is the current interest rate that you can obtain.  Right now, as you'll see in the video below, the average rate is about 4.14%.  This varies based upon a number of factors, including your qualifications, but is very influential in determining your eventual purchase price.

I've read on a number of occasions that a 1% variation in interest rate can influence your purchasing power by 10-12%.  This means that if you are pre approved to purchase a $200,000 home today, but sign another year lease because you want to save up more money, if interest rates jump up a percentage point by next year, there is a strong possibility that you'll only be able to afford a home at $180,000 or so.

The example above is merely an example.  There are many factors that go into this equation, but the possibility of interest rate hikes are a factor that very few potential buyers consider when making their decisions.


The bottom line is that nobody should purchase a home just to guard against possible interest rate hikes.  There is very little sense in attempting to predict the market, the best time to buy or sell is when you are ready to buy or sell.  But, if you are on the fence, don't forget to discuss affordability, interest rates, and market conditions with your lender so that you can make your decision an educated decision.

Take care,
Scott Morrison
scottmorrison@kw.com


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Wednesday, June 4, 2014

NEW LISTING in BRYN MAWR

1133 Black Gold Place


ONE OF A KIND!  Resting on one of Bryn Mawr's finest lots, this 4 bed, 2.5 bath home boasts a number of unique features that are sure to please any buyer!  The wrap-around front porch will catch your eye as you drive up the cul-de-sac, and the 1/2 acre lot complete with a custom patio and beautiful landscaping are huge bonuses to the 2450 sq ft of well-kept living space.  See it soon!

Click here for a video tour of 1133 Black Gold Place

Showings available by appointment

Open house planned for Sunday June 8 from 2:00 - 4:00pm 

Take care,
Scott Morrison
scottmorrison@kw.com

Use the tabs at the top of the blog for access to several real estate tools and resources
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