September 22nd was the official start of Fall and we have surely seen a shift in the market. We usually see a slight surge after school goes back into session, but this year hasn’t been as strong. Sure, homes are selling and the market is still relatively hot, but it’s cooled off since the Spring and Summer. It could be due to the rising interest rates, the rise of listings coming to the market or just a slow down for other reasons. Statistics show that in the month of August the number of in contracts dipped 6.7% from July. In addition, there was an increase in listings from July to August of about 4.7% which also adds to slight slowing down. Now there are still areas that will sell in a few weeks, but days on market for listings is slowly increasing. As a seller it’s a bit unnerving, but it is still a strong market just not as fiery as it was in previous months. For buyers it’s giving them more options and allows them to think about an offer on a house for a few days vs a few hours back in the spring.
But have no fear I just celebrated my 14th year as a Realtor and can help you in any market! So if you are looking to buy or sell, please give me a call at 614-431-1770 or email me at email@example.com and you’ll know you’re in good hands!
See below for Keller Williams Market Research.
October 2018 Market Update
According to the National Association of REALTORS®, existing home sales remained steady in August after four straight months of decline. In parts of the country, potential buyers seem ready to step back into the market with a moderate rise in housing inventory.
According to Freddie Mac, 30-year fixed rates increased to 4.65 percent in August from 4.53 percent in July. The average commitment rate for all of 2017 was 3.99 percent.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.34 million homes during the month of August. This number did not change from July, but decreased by 1.5 percent from August of last year.
The median home price decreased to $264,800 in August, which was down 1.7 percent from July and up 4.6 percent from August of last year. The median home price has increased by approximately $11,700 in the past year alone.
There was a 4.3-month supply of housing inventory in August, which has been stable since July. The total number of available homes for sale has increased by 2.4 percent compared to August of last year.
Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.
Erik Hiss 2004013902 Keller Williams Capital Partners Realty Real Estate Professional
Copyright 2018 Keller Williams® Realty, Inc. If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed. Equal Opportunity Housing Provider. Each office is independently owned and operated.
Brought to you by Erik Hiss.
Thinking About Moving to a New City? Here’s What You Need to Know By Eliot Ward
Perhaps you recently accepted a job offer in a new city, or you just needed a change of scenery and decided now was the time to make that change. Uprooting your life isn’t an easy feat—yet, it’s exciting and new. You’ll get to explore a whole new place and all that that new place has to offer! There’ll be new activities, new restaurants, new friends, new parks, and more.
What should you know about your new hometown? What research should you do ahead of time to ensure you relocate to a place you’ll be comfortable living in? Here’s what you need to know:
Do Your Research Before Buying (or Renting) The area you live in makes your home what it is. Check out Google Maps before your big move. Maybe even make a list of the advantages and disadvantages to each area you research—it can help make the decision easier.
If your kids are in school, you’ll likely want a school facility close by. Do you want them to attend a private or public school? Is there one close by? What about grocery shopping? Is it easy to get to? Do you like to have a gym you can walk to? Are there parks? Ask yourself these questions ahead of time. Determine their importance to you and your family.
Research the Local Big Activities and Events With a new city comes a new list of annual events and festivals. Find out what big attractions take place. If your family is into skiing or mountain biking, look to see if there is a place close by to partake in these activities. Plus, finding activities and fun events to look forward to can lessen the impact of a move, such as moving far away from friends and family. It’s exciting, but it can also be really tough. Make the best out of it!
Research the Costs of Your New City This is a big one. Cities come with different price tags. Make sure you know what you’ll be spending before you commit.
Even grocery prices tend to change. Calculate what you can expect to spend in your new city—does it work for your budget? The worst thing that could happen is you move and find out you can’t afford your new city. Financial planning makes all the difference, and it can help you avoid future panic or crises.
Top Benefits of Installing a Tankless Water Heater
As is the case with most household appliances, modern technological advancements can result in massive improvements. Here are the top benefits of installing a tankless water heater in your home:
Save Money on Your Energy Bill With a conventional water heater, hot water is stored inside the tank. In theory, this keeps a ready supply of hot water on hand for immediate use, but the fact is that the hot water just sits around when not being used. This is not only a complete waste of energy; it also costs you extra money at the end of the month on your energy bill.
Tankless Is Better Than Conventional A tankless water heater does not store hot water for later use. Instead, a tankless water heater only produces as much hot water as a person needs. In other words, when the hot water faucet is turned on, the tankless unit provides the exact amount of hot water dispensed until the faucet is turned off. With the installation of a tankless unit in your home, you never need to worry about running out of hot water again during a shower.
The Single Biggest Flaw of Conventional Tank Water Heaters One of the biggest problems with conventional tank water heaters is leakage. No matter how fancy of an electric water heater you buy, the unit will start leaking as time takes its toll. After all, these are constantly filled with water day in and day out for a period of years. A tankless water heater, on the other hand, doesn’t store water, and, therefore, will never leave you a big mess to clean up—because there’s nothing to leak!
I am representing several buyers of which 9 are currently in contract expected to close in Aug/Sept.
Do you know of any homes that may be coming up that match the following criteria for my current buyer clients? Or do you own the specific home my buyers need? Call me at 614-431-1770 or email me today! Or visit my website for more info.
1) Up to $350k – 2-3 bedroom in German/Merion Village w/off street parking 2) Up to $30,000 – Linden Rental (rental) 3) Up to $50M – OSU Campus Rental Portfolio 4) Up to $500k – 4 Unit Multi-family 5) Up to $125k – 1-2 bedroom near Clintonville 6) Up to $150k – 2-4 unit Rental on the west side of Columbus 7) Up to $400k – Clintonville Ranch 8) Up to $100k – land of at least an acre close to Hilliard and OSU 9) Up to $450k – 4 Unit Multi-family Owner Occupant 10) 30-150 unit Class B multi-family portfolio in Central Ohio 11) Up to $400k – 2 Unit Multi-family Owner Occupant 12) Up to $275k – duplex in and around central Ohio 13) Up to $300k – 2-4 unit in a emerging neighborhood 14) Up to $175k – 1-2 bedroom near South Clintonville 15) Up to $135k – 3 bedroom near Westerville 16) Up to $125k – 2-3 bedroom condo near Clintonville/downtown 17) Up to $140k – 2-3 bedroom near Westerville, Columbus or Worthington
Central Ohio Home Sale Monthly Stats
Click HERE to get the the Columbus Board of Realtors stats and HERE to see how homes are selling in YOUR neighborhood.