Saturday, August 23, 2014

Bryn Mawr Subdivision Home Sales

1133 Black Gold Place  Gahanna, OH
Congratulations to Ron and Deanna on the successful closing of their home.  Best wishes to you and your family on your new adventure!  It was a pleasure working with you.

The Bryn Mawr area has had a very healthy summer with sales prices averaging above $285,000 and having 18 homes sell in the past 90 days.  Within the same time period last year, only 7 homes sold with an average sales price of approximately $275,000.  A few sales well below that number brought the average down a significant amount, so the price differential may be a bit misleading, but the number of sales is certainly a sign of a healthy market.

Take care,
Scott Morrison 

Sunday, August 10, 2014

WHAT!?! The Auditor's Value is TOO LOW!

Even if you are not in the market to buy or sell, there aren't any homeowners that do not like to hear good news about the housing market.  Over the past few months I've been reporting some very good news on this blog.  Homes are selling quickly, and selling for very good prices!  

This past week you may have received a note in the mail from the County Auditor (see this article in the Columbus Dispatch).  Eager to see that the value of your home has gone up, you open the small envelope.  

"WHAT!?!?!... My home is worth WAY more than that!" 

Don't panic.  

Here are two things you should know.. 

1.  If it's low, let me know-  Send me an email or use this home value tool on my site and I'll send you back a market analysis.  This will give you a more accurate valuation of your home because... 

2.  The market value for your home is not the same as the Auditor's value-  I sat in a class about a year ago and there was a group of appraisers that stood in front of us and let us know that an appraiser will rarely, if ever, look at the Auditor's site when valuing your home.  Appraiser's will value your home using the same methods that Realtor's do.  Comparing your home with recent activity in your neighborhood is the best way to determine what you could get for your home.  

Take care, 
Scott Morrison

Friday, August 8, 2014

Favorable Numbers

Is the market back?  Are we at the peak?  Should we sell now?

I can't give a definitive answer to any of those questions, but what I can tell you is that going by the measurable numbers and statistics available to us, the real estate market is very healthy.  Just as the national numbers show (see video below), the numbers here locally in Gahanna report the same things.  Mortgage rates are low, home sales are high, sale prices are high, and the days on the market are getting lower and lower as inventory goes down.
If you are looking to sell, now is a good time.  That isn't to say that next spring would be a bad time, but trying to time the market is always a dangerous strategy to getting the most that you can for your home.  If you are in the market to buy, it's becoming more and more important to go through the proper steps to prepare for what could be an extremely quick process.  When you see the one you want, you've got to be ready to buy, there is very little chance to think, you've got to know.

Take care,
Scott Morrison