The Columbus Team | Keller Williams Realty | Blog | The Columbus Team

Tips for Moving With Kids and Pets

August 19, 2019 by The Columbus Team

Moving day. It brings a mix of emotions and details to organize. And moving with kids or pets adds another layer of planning.

We want to put you at ease and decrease the stress of your move. There are ways to ensure the move to your new home will run smoothly. Preparation is key.

Follow these tips to prepare for your move with a family and pets…

Moving with Kids

If your kids will be changing schools find ways to help soothe the emotional impact it may have. Get a photo of their new teacher/s and school so your children can start to visualize the new environment. And if you’re moving during the school year, be sure to take extra steps to ease the transition.
Involve your kids in the move. Ask your kids to help write lists to prepare for the move, allow them to choose a theme for their room decor, and give them opportunities to make some other decisions about the move as well.
Give your kids an essentials box. This is a box that they can pack with their favorite things and it will be the first box to be opened once you arrive at the new house. An added touch like this will help your children have the comfort of familiar things with them from the start.
Consider purchasing your kids a move gift. This can be anything from new white board for their room or a baseball to new bedding or clothing. It doesn’t have to be something expensive, but an item they will enjoy and find comfort in.
Lower your expectations for the kids behavior on the day of your move. Be prepared to be patient and flexible. While you have a lot to do, some boxes can wait to be unpacked in order to attend to your kids needs during the transition.

Moving with Pets

Order a new tag for your pet or update your pet’s microchip with your new address.
Have at least a week’s worth of food and any necessary medication for your pet during the move.
Carry a large bottle of water from home for your pet’s drinking water, in case none is available for any period of time.
Establish a relationship with a vet close to your new home.
If traveling by air, consult your airline about rules and requirements for pet travel.
If you’re moving internationally, check on quarantine and health laws around importing a domestic animal.
Pack your pet’s bedding, favorite toys, and comfort objects with you, so they are available immediately upon arrival to the new home.
Upon arrival to your new home, double-check that fences, pet doors, and pet features are clean, free of hazards, and work smoothly with no possibility of escape.
Offer quiet, calm opportunities for your pet to explore additional indoor space and become acclimated with the new surroundings.
Even if your pet is normally safe off-leash, use the leash until your pet has settled in.

If you have additional tried-and-true tips for moving with kids and pets, leave a comment below!

2019 Central Ohio Real Estate Market Forecast for Fall

August 13, 2019 by The Columbus Team

As we head into fall this year, we cannot assume a typical real estate market since atypical has become the norm the past couple of years.

We are still looking at a surplus of buyers and a shortage of homes available for them to purchase. Interest rates remain favorable, especially for first-time buyers trying to break into the real estate market. But as housing prices are being pushed up due to the lack of inventory, the cost may shut new buyers out.

Housing shortages are due to a variety of reasons, but the top 3 are:

boomers choosing to age in place rather than move,
lack of consumer confidence which dropped 9.8 points in June,
the construction market has faltered with affordable housing new builds due to labor issues and the cost of materials.

Nationally, 35% of home sales in June were savvy first-time homebuyers who are taking advantage and locking in those lower interest rates.

The National Association of Realtors chief economist, Lawrence Yun said, “Home sales are running at a pace similar to 2015 levels – even with exceptionally low mortgage rates, a record number of jobs and a record high net worth in the country,” and attributed the slow sales to the ongoing lack of inventory.

Here in central Ohio, our days on the market are lower than the national average in June of 27 days. Central Ohio’s average was 23 days for the same time with the more affordable properties selling even faster at 18 days.

Home values are rising and a 5.6% increase by May 2020 is estimated by the Home Price Index Forecast.

The last four months of 2019 could pick up or slow down! If hesitant homeowners finally decide to sell, this could open the floodgates to buyers unless consumer confidence & rising prices keep buyers from purchasing in traditional pre-recession numbers.

What we don’t see slowing down anytime soon is affordable turn-key housing! Millennials are the group to watch since they are the largest group on the cusp of purchasing. We’ll be watching Senate Bill 139, Ohio’s First-Time Homebuyer Savings Act! Too late for 2019, but once this bill passes, it will assist all future first-time purchasers with a tax-free savings account to save for their first home.

If you’re contemplating a sale and are wondering what the current market value of your home is, we can help! Call The Columbus Team at (614) 888-6100 to set up an appointment for a comprehensive analysis. There is no obligation to list!

Tips for Buying a Condo

July 22, 2019 by The Columbus Team

Are you in the market for a condo? Buying a condo, or condominium, opens the door to a flexible lifestyle. It’s a great option for households wanting to downsize, professionals on the go, or aging individuals that don’t want the upkeep of a single-family home.

The following are tips for buying a condo…

Determine if buying a condo is the right type of home for you. Condo living isn’t for everyone and there are different types of condos to consider as well. Research the condos in your area. Just as if you were purchasing a single-family home, take into consideration the location, proximity to your place of work, etc.
Hire a real estate agent that specializes in condos. Your realtor can help you through every step of the process. Since condos can have different financing and procedures associated with the purchase, a realtor will ensure you’re doing every by the book and getting the best price when buying a condo.
Find out if the condo is FHA (Federal Housing Administration) approved. An FHA loan may allow you to have a lower down payment. This can be a huge saving no matter your circumstances, but in particular for first-time home buyers.
Know what’s included with the condo. Condos typically have an association fee. These can fluctuate depending on the square footage if your building has elevators, or the amount of lawn care that is required, amenities included, etc. Find out how much the fee is and if it will increase over time. Before buying a condo, ensure the fees and any exclusions that apply are in writing.

In addition, determine if things like a parking spot, garbage pickup, or storage space are included in the purchase. Get these items in writing as well and know if they’ll be available upon closing. We also recommend learning who the maintenance company or garbage vendors are so you don’t have any surprises. Ask your realtor to help you ensure nothing is being missed.
Review the condo association’s rules. Just as important as knowing what’s included with the condo, is learning what the association’s rules are. If you have a dog, for example, make sure the condo is pet-friendly. Condo living means being in close proximity to your neighbor, therefore setting rules are important for the association but be sure they are rules you can live with before buying a condo.

Our team is happy to help you with any questions you have about buying a condo. Contact us to meet with one of our condo specialists and learn more about your options for condos in Columbus & central Ohio.

Mortgages and Credit Repair

July 8, 2019 by The Columbus Team

Buying a home is a major purchase and having bad credit is an obstacle. Your ability to obtain a mortgage is contingent on your credit score, employment, and overall financial picture, often heavily influenced by your FICO score. Your FICO score will influence your interest rate and subsequently your loan payments. However, if your credit isn’t perfect at this time, don’t let this deter your goal of buying a home. Instead, the desire to purchase a home can be a motivator to attend to your credit repair.

In a competitive Real Estate market, home sellers and REALTORS®, will be unlikely to consider your offer if it doesn’t include a pre-approval letter from your Mortgage Lender. Before you make your offer, improving your credit score can greatly affect the interest rate of your mortgage loan and ultimately the cost of your new home. We recommend embarking on a credit repair at least one year before you are ready to make an offer on a property. Talk with your REALTOR® to help you locate a great Lender that will work with you to repair your credit history.

Likely you will want to consider a twofold approach:

1) Dispute any negative information on your report; and

2) Rebuild positive credit and good financial habits moving forward.

The following are tips for improving your credit score:

Pay your bills on time. Set up payment reminders to ensure you pay all your bills on time. Missing credit payments is one of the biggest contributors to bad credit.
Reduce your debt. Come up with a realistic plan to reduce any debt you have, whether it’s credit card debt, student loans, etc. Even if you close an account, the debt will still show up on your credit report. If your debt is significant, consider meeting with a financial planner.
Manage your credit cards responsibly. Credit cards can actually improve your credit as long as you pay your bill on time and keep your balance below 30%.
Pay off debt instead of moving it around. It’s better to pay your debt on each credit card you have open rather than lumping it into one payment. Paying your debt and managing your debt ratio can actually lower your credit score.

We have many excellent lenders in the Columbus area and The Columbus Team REALTORS® will be happy to help you choose a Lender to help you obtain a mortgage. A lender will take an in-depth look at your household income and expenses, and they can tell you what mortgage payment would be best based on your current debt-to-income ratio.

Columbus Still Top 10 Hottest Housing Market!

June 25, 2019 by The Columbus Team

Columbus was THE hottest housing market in March 2019, and has maintained its place in the Top 10 US cities with 10 of those months being in a Top 5 position.

The fact that Columbus is still a Top 10 housing market is not a surprise to those of us who live here and know what Columbus offers its residents. Exceptional food, fun events, sports, education, medical facilities, technology and a great environment for business are only some of the reason we love living here!

Columbus maintains a hot housing market!

(June 21, 2019 – Columbus OH) – Columbus, Ohio has remained in the list of top ten hottest real estate markets in America since March 2018, based on rising demand and how long it takes to sell a home.

In ten of those 15 months, Columbus ranked in the top five, rising to #1 in March of this year.

“We’re not surprised by the avid interest in homeownership in this area,” said John Myers, 2019 Columbus REALTORS® President. “Columbus is the fastest-growing metropolitan area in the Midwest. We offer a business-friendly environment as well as a plethora of things to do, events, entertainment, and an abundance of incredible culinary options. It’s not a shock that people want to live here!”

The 3,200 home sales last month in central Ohio was 5.6 percent higher than a year ago and over 20 percent more than April. Year to date, home sales are just 0.2 percent above the 2018 sales rate primarily due to the lack of inventory.

There were 4,397 homes newly listed for sale in May. Although a modest increase of 0.1 percent from a year ago, they jumped 18.5 percent from the previous month (April).

As a result of the new listings, total inventory increased 16.5 percent from April, but remained only 0.1 percent up higher than May of 2018 according to the Columbus REALTORS® Multiple Listing Service.

The ten school districts that saw the highest number of new listings in May included Columbus, South-Western, Olentangy, Dublin, Westerville, Hilliard, Pickerington, Upper Arlington, Worthington and Lancaster.

Not surprising, several of the above made the list of top ten school districts that saw the highest number of home sales – Columbus, South-Western, Hilliard, Dublin, Olentangy, Westerville, Pickerington, Worthington, Newark and Upper Arlington.

Prices continue to rise in central Ohio! The average sales price of a home sold in May was $253,531, up 7.8 percent from one year ago. The median sales price was $220,000, also up 7.8 percent from 2018.

“Although, increased home prices might seem like a deterrent, the drop in mortgage interest rates over the past three months means that housing affordability is the best it’s been in a year,” added Myers.

Current housing report – May 2019

Columbus REALTORS® is comprised of almost 8,000 real estate professionals engaged in residential sales and leasing, commercial sales and leasing, property management, appraisal, consultation, real estate syndication, land development and more.

The Columbus REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Licking, Madison, Morrow, Pickaway and Union Counties and parts of Athens, Champaign, Clark, Clinton, Fairfield, Hocking, Knox, Logan, Marion, Muskingum, Perry and Ross counties.