School is back in session and the streets are full of buses. Plus rates are ticking down lower and lower as the world economy is in the tilt. There’s much uncertainty in the market although it still is pretty good given the demand. At the same time, there are people who feel another recession is upon us and is making slight impacts on the market. Are the trade wars going to kill real estate? Lumber tariffs have surely impacted home new build home prices, but it is enough to pop this so-called housing bubble? Many do not believe we’re on the brink of another down fall, but it has affected some of the higher priced homes. Homes under $350,000 still have the most demand and many are getting into bidding wars, but those $350,000 and above are seeing a bit of a slow down and feeling some pressure. There are more price reductions and time on the market for those higher priced homes. Sellers are getting great prices on their homes regardless, but some of the higher priced homes are starting out with slighly lower prices to entice those higher priced buyers to create a bidding war by showing that extreme value. Call me at 614-431-1770 or email me at email@example.com and let my 15 years of experience help you get the most out of your real estate endeavors!
See below for Keller Williams Market Research.
September 2019 Market UpdateAccording to the National Association of REALTORS®, existing home sales increased in July 2019 after a slight decrease in June. With low mortgage rates, more buyers may be entering the market. Interest Rates According to Freddie Mac, 30-year fixed rates decreased to 3.77% in July from 3.81% in June. This rate remains well below the historical average of 8.90%. Home Sales The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.42 million in July, up 2.5% from June and 0.6% above the 5.39 million sales pace from a year ago. Home Price The median home price decreased to $280,800 in July, down 1.6% from June. The median home price has increased by approximately $11,500 in the past year alone. Inventory There was a 4.2-month supply of housing inventory in July 2019, down 4.5% from June. The total number of available homes for sale has decreased by 2.3% compared to July 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
Why an Investment Property Should Be Your First Real Estate Purchase
Not ready to buy a home for yourself but want to take advantage of great market conditions? Consider buying an investment property! It’s a trend that’s taking over real estate, as savvy investors look to put their money in an appreciating asset. Here are five reasons to consider it.
1. Rates are crazy low. Lower rates mean more affordable lending, or more for your money if you choose to reach higher.
2. Because it will appreciate. According to CoreLogic, “The overall home price index (HPI) has increased on a year-over-year basis every month for seven years.” The long-term price appreciation of real estate can provide one of the safest investments out there.
3. Because passive income is good. Yes, it’s nice to know there will likely be appreciation over time, but the real key to success with investment properties is passive income.
“The best part about rental properties is that they provide a stable income,” said Mashvisor. “What would be better than having a check sent to you every month? In order to have positive cash flow, you have to make sure you invest in a profitable rental property.“
4. To turn it into a short-term rental. The short-term rental market has opened up a new world of opportunity for investors. By buying in the right location—by the beach, near a ski resort, or in close proximity to a popular annual event like Coachella, you have the potential of making a significant return in a short period of time. Just be sure to check the local laws, as lots of cities have been cracking down on Airbnb and other services.
5. Because it can help you buy the home of your dreams down the line. “Buying an investment property before your first home does not imply that you won’t have the funds to purchase your actual home at some point,” said Mashvisor. “In fact, investment properties that have been purchased wisely and have grown in value can offer you a sizeable amount of wealth and equity.”
Floor Cleaning Tips & Tricks
Regardless of how tidy you are, your floors, rugs, and carpets get dirty. Between the dirt you track in on your shoes, the accidental spills, and the inevitable accumulation of dust, your floors can get quite grimy. Here are a few cleaning tips and tricks for all types of flooring.
Natural Stone Floors One of the most important rules when it comes to cleaning natural stone, is to steer clear of acidic products like vinegar, ammonia, or bleach, as they can ruin the stone. Your best bet is to use a pH-neutral cleaner that won’t react with the minerals in your stone floor.
Tile Floors Tile is easy to clean. Simply combine ¼ cup of vinegar and one drop of dish soap in a spray bottle. Fill the rest with water and mix well. Spritz the mixture onto your tile surface and wipe it down with a microfiber cloth or mop. Steaming the tiles and grout will provide a deep cleaning.
Carpets Unlike other flooring surfaces, carpets have their own set of rules. For a deep clean, it’s best to steam clean your carpets. For regular cleaning, using a vacuum should suffice.
Hardwood Floors Wood floors need a lot of attention. Start by determining whether your floor is sealed or not. If it’s unsealed, avoid using water and instead try mineral oil and periodic coats of wax. If the floor is sealed, a simple mix of hot water and soap is a safe bet.
Linoleum Start by sweeping or vacuuming the floor to get rid of dust, hair, and dirt. Then add about six drops of mild detergent or dish soap to a gallon of warm or hot water. Dampen a mop with the mixture and use it to clean the floor in sections. Avoid getting the mop too wet, and make sure to dry the floors with a towel when you’re done. Standing water can damage linoleum.
Listings for Sale
Below are the properties I have for listed for sale at the moment. Please review them and see if you know anyone interested in purchasing them…if they are still available.
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 $20M – OSU Campus Rentals 20+ units 2) Up to $500k – 4 Unit Multi-family 3) Up to $150k – 2-4 unit Rental on the west side of Columbus 4) Up to $425k – Clintonville Ranch 5) Up to $100k – land of at least an acre close to Hilliard and OSU 6) Up to $300k – 2-4 unit in a emerging neighborhood 7) Up to $135k – 3 bedroom near Westerville 8) Up to $200k – 2-3 bedroom condo near Clintonville/downtown 9) Up to $170k – Southwestern City school district 10) Up to 300k – East side of Cols, no Cols schools 3-4 BR,2.5BA 11) Up to $115k – 2BR w/fence yard
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.