Did you happen to see the market shift? We felt it in September, but this past month it was much more evident. Longer days on the market, more price reductions and some weary sellers. More buyers are getting excited because they’ve gotten the short end of the stick the past couple years and perhaps now is their time. Has the market completely flip flopped? No, absolutely not…it’s just not as crazy as it had been in the spring. The increase in rates have seemed to put a lot of buyers on the sideline and has caused some slowness in the market, but this doesn’t mean it’s a buyer’s market or that sellers should be scared. It’s just a softening that we have almost needed in the past couple years. Perhaps we’ll get back to longer days on the market and an ability to actually negotiate an offer versus throwing out your highest and best at every turn. Either way, the real estate market is still very healthy just shifting a bit. And after selling for over 14 years you can count on me to navigate you through any market! 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.
November 2018 Market Update (NOTE: video is for September, but current)
According to the National Association of REALTORS®, existing home sales declined in September after a month of stagnation in August. This is the lowest rate recorded since November 2015. Modest increases in mortgage rates may be preventing some consumers from making quick decisions on home purchases.
According to Freddie Mac, 30-year fixed rates increased to 4.85 percent in September from 4.65 percent in August. This rate remains well below the historical average of 8.90 percent.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.15 million in September, down from 5.33 million in August, and 4.1 percent below the 5.37 million sales pace from a year ago.
The median home price increased to $258,100 in September, up 4.2 percent from September 2017. The median home price has increased by approximately $10,500 in the past year alone.
There was a 4.4-month supply of housing inventory in September, up since August. The total number of available homes for sale has increased by 4.8 percent compared to September 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.
REAL ESTATE NEWS Brought to you by Erik Hiss
4 Easy Ways to Add Colorful Curb Appeal By Eliot Ward
Update your home’s curb appeal with pops of color that add a cheerful touch this time of year.
Get a Step Up with Railings Chipped, tired railings can make a home look outdated and unkempt, but making those pieces look new again is a relatively quick and easy project. Keeping the railing monochromatic in a color that complements the rest of the house’s paint and trim creates a clean look. If you want to add some variety, use a secondary shade in the same color family and apply it to the main posts or the spindles.
Create DIY Doormats An affordable and unique way to create a “wow” moment at your home’s entry is to craft a DIY doormat with spray paint. A chevron pattern is an easy way to make a statement by simply using painter’s tape and two different colors of spray paint.
Put the Spotlight on Light Fixtures Small splashes of color can go a long way, especially with a feature like exterior light fixtures. For light fixtures to stand out against a neutral-colored home, try spray painting them a bold hue, such as bright yellow, for a burst of color.
Refresh Patio Furniture Over time, patio furniture loses its luster. If it’s still in good shape, you can bring it back to life with a fresh coat of spray paint. All the angles can make it difficult to cover every surface, so choose a product that promotes easy application. Remember to tilt furniture back and apply color to the feet and legs for an all-over finish that’s ready to weather the season.
Fall Home Considerations to Make Before Winter
It’s that time of year again. The fall season is winding down and we’re about to hit the thick of winter. Are you ready to stay warm and cozy, or does your home need a once over to be prepared? A final run at refreshing your living space before winter can pay real dividends. Here are a few ideas.
Safety first. Did you know that three in five home fire deaths are the result of fires in homes without smoke alarms, or with no working smoke alarms? Oftentimes, this is due to intentional device deactivation. Instead of getting frustrated at your beeping alarm, make sure the batteries are working now or install new alarms where needed. You should have a smoke alarm on every floor of your house, and in every bedroom.
Stay warm. Is your furnace in working order? You don’t want to find out the answer to that question when the temperature really drops. A maintenance appointment from a certified technician should cost about $80-$100 and will ensure that everything is functioning and that your furnace will be operating efficiently. The tech should also measure to see if there’s any carbon-monoxide leakage from your furnace.
Stop the leaks. Drafty doors and windows are not only a huge annoyance, they’re costly. Why pay all that money to just let the heat escape? You can find problem areas by running your hands close to windows and trying to feel a breeze. Use a quality silicon caulk or weather stripping to seal up any leaks. And if you notice a draft on an exterior door, consider installing a door sweep.
I am representing several buyers of which 5 are currently in contract expected to close in November/December.
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 $200k – 2-3 bedroom NW Columbus outside 270 2) Up to $50k – 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 18) Up to $250k – 2-4 bedroom in and around Columbus
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.