Have you ever considered moving internationally? If you haven’t started your research already, you will eventually find that locating a property in another country can be quite difficult. Because of this, I would suggest you trust only highly reputable companies to work with. Some countries have very strict real estate licensing laws, however many others are very lax, or do not have them at all.
My top pick of the day for Australia would be HomeSales as they are the most reputable company that I personally know of. Their staff is great and their website layout is absolutely amazing. They also have quite a few investment properties that you can take a look at.
Real estate sales in Australia are quite different from how it works here. Agents are licensed in a much different way and agency laws are different as well. Laws are much more similar to the UK than Canada & the United States. It is much easier to get a real estate license in Australia than it is in the US, because of this, real estate fees & commissions are also lower than they are in the US and Canada. This can be beneficial to buyers, however some people have concern with the laxness of laws. This is also why I stress using a reputable real estate agency when finding a home. Be sure to sit down with the agent you chose and make sure you are all on the same page. Buying a home anywhere in the world is a huge investment, it will likely be the largest person anyone will ever make in their life. I’ve worked with many people who have not spent the time needed to learn about real estate and end up with bad purchases. This can be disasterous for many people, thus why I stress using companies like HomeSales to locate your next property!
As a Real Estate professional , it’s my job to report to people, and help guide them in the decisions they make with buying or selling a home.
From my personal research, and various sources, it is my firm Belief that we’ll see a large increase in the number of foreclosures in the Circleville & Chillicothe areas over the next 12 months.
The reasoning for the increase is due to 2 separate things.
#1 The tax credit has expired
#2 The foreclosure moratorium has expired
#1 Isn’t a huge issue , the government’s $8500 tax credit to new homebuyers has expired. This does not increase the number of foreclosures on the market , but hurts the rate at which they’re purchased by buyers. Over the past 3 years, we’ve seen a larger portion of the market consist of foreclosures, to the point that for a few months in 08 and 09 , foreclosures accounted for nearly 40% of the sales in the marketplace locally (Normally it’s only 3% to 5%).
The #2 is a huge issue , in October, the president signed a bill that declared a moratorium on foreclosures , and because of this , the number of homes that banks could foreclose on were severely limited.
Now , the foreclosure moratorium expired several months ago, however locally, it takes anywhere from 6 months to well over a year for a bank to actually foreclose on a homeowner who had already defaulted. Putting us in a time period over the next 6 months of when we will most likely see these homes hit the market.]
For buyers, this is good news, as when foreclosures are on the market, prices go down and things become more affordable. For sellers, this isn’t a good thing, as it drives down the value of most homes , as existing owners will need to compete with banks who absolutely must sell.
Data provided is from 1/1/2010-4/27/2010
Currently in Pickerington Corp limits , there have been a total of 128 homes to sell this year, with a median price of $183,998 with a average marketing time of 94 days.
Over the same time period of last year, we had a total of 117 sold listings,with a median sales price of $171,268 , this is of course a gain of more than $12,000. The average marketing time for a listing has also dropped from a high of 114 days to sell.
There also are a total of 30 properties currently under contract, with a median list price of $161,543 , and a average market time of only 65 days.
Unlike this time last year, we’ve had a $8,500 tax credit for home buyers, which is expiring at the end of April. This should not be a surprise, as most home buyers wait till the end of a promotion to purchase a home, as the tax credit is a ‘use it or loose it’ situation, and many homebuyers have felt the pressure to purchase a home.
It’s been a while since I’ve updated the general state of the market for Circleville & Pickaway counties.
So far in Pickaway County , we’ve had a total of 103 sold listings so far this year, at a total median price of $140,350.
Currently there are 26 listings that are under contract without contingencies (This means they WILL close), at a total average list price of $120,469.
These numbers are showing that the market is stabilizing , and sales are up (while sales prices are down somewhat).
Compared to last year, we’ve had just over 20 more sales this year, and the median price has increased by around $11,000 which is a VERY good sign. This however is still much lower than the 2006 median value which was around $170,000.
The total number of days on market has decreased by approximately 15 down to a total average of 90 days before a home is sold , this is the one of the lowest numbers it has ever been. Properties currently in contract have averaged 98 days, which is more in-line with what we see in Pickaway county,
Here’s a real short list of things to get when buying a foreclosure. Unlike normal home purchases ,the are many ins and outs when buying a foreclosure, and could potentially cost YOU money.
The list of DOs
Do get someone who knows how to deal with foreclosures (A Realtor who KNOWS what they’re doing)
Do inspect the property, find a good inspector to help you
Do have well inspections, termite inspections and the associated inspections a normal inspector may not cover
Do consider having the electric put in your name if it is off, even if for 2-3 days to test the electrical systems, many banks will allow you to do this
Do be careful when offering on a foreclosure, if it’s been on the market for a while, you can attempt to lowball , however if it’s brand new, don’t even think about it
Do pay attention to the extra contracts required to purchase a foreclosure, it can be a costly mistake if you don’t pay attention!
The list of Don’ts
Don’t treat a foreclosure/short sale like you would a normal home
Don’t forget to have everything completed in the given time frames (Inspections, financing ,ect) – Banks LOVE to charge for delays
Don’t be slow to act, foreclosures many times sell in the first week or two of listing , you only have a short time to make a choice!
Don’t get upset if the bank doesn’t meet all your requests (Closing costs, Inspection time frames, ect) as each bank has their own policies, that can vary widely from bank-to-bank.
Finally, I can not stress this enough to you – USE A REALTOR WHO DEALS WITH FORECLOSURES! Bank only are looking out for themselves, so you need someone to watch your back.
Call me – Brandon Schlichter @ Prudential Plus , 740-571-1606
As a real estate group that has intimate knowledge of the local market, we can provide you unprecedented services and opportunities to the Circleville area.
Whether you’re looking for a luxury property, a foreclosure, or even a investment, our specialists are dedicated to providing the best service in the area to buyers as well as sellers.
Would you like access to the local MLS and to view properties right as they hit the market for sale? The only way you can do this is by signing up to our EXCLUSIVE BUYER PROGRAM, this enables you to get access that is far beyond what anyone else offers.
A little bit about Circleville (From their wiki entry):
Noted frontier explorer Christopher Gist was the first recorded European visitor to the Circleville area. Gist reached “Maguck,” a small Delaware town of about 10 families on the east bank of the Scioto River and the south side of Circleville, on January 20, 1751, and remained in the town until January 24.
Circleville was founded in 1810. It derived its name from the circular portion of a large Hopewell culture earthwork upon which it was built. The original town plan integrated Circleville into the preexisting land with a street layout of concentric circles. An octagonal courthouse stood directly in the center.
Dissatisfaction rose with Circleville’s layout, however, and in 1837, the Ohio General Assembly authorized the “Circleville Squaring Company” to convert it into a conventional grid. By 1856, this had been completed in several phases. No remaining traces of the original earthworks remain, though a few old buildings retain curved walls that were part of the original circular layout.
On October 13, 1999, an F-3 tornado hit the city. A squall line moving through the region spawned several tornadoes in the county, including the F-3 that hit town. The tornado touched down on the north side of town doing substantial damage to a barber shop and a masonry building. A furniture store was also damaged with a hole in its roof where it was reported that items from inside the store were sucked out. Damaged to nearby buildings also occurred as the tornado moved east across the north-central part of town.
The tornado then moved into a residential area in the Northwood Park neighborhood where several homes along Fairlawn Drive were destroyed. Heavy damage to trees and vehicles also occurred in this area. The tornado would lift as it crossed Edgewood Drive, but snapped the tops of some nearby trees as it lifted and moved on.
As a real estate group that has intimate knowledge of the local market, we can provide you unprecedented services and opportunities to the Chillicothe area.
Whether you’re looking for a luxury property, a foreclosure (Bank Repo) , or even a investment, our specialists are dedicated to providing the best service in the area to buyers as well as sellers.
Would you like access to the local MLS and to view properties right as they hit the market for sale? The only way you can do this is by signing up to our EXCLUSIVE BUYER PROGRAM, this enables you to get access that is far beyond what anyone else offers.
A little bit about Chillicothe (From their wiki entry):
Chillicothe was the center of the old Hopewell tradition, which flourished from 200 BC until 500 AD This Amerindian culture had trade routes extending to the Rocky Mountains. They built mounds for ceremonial and burial purposes throughout the Scioto and Ohio River valleys. Later Native Americans who inhabited the area through the time of European contact included Shawnees.
It was after the American Revolution that most European settlement came to this area. Migrants from Virginia and Kentucky moved west along the Ohio River in search of land. Chillicothe served as the capital of Ohio from the beginning of statehood in 1803 until 1810 when Zanesville became the capital for two years. The capital was moved to Zanesville as part of a state legislative compromise to get a bill passed. In 1812 the legislature moved the capital back to Chillicothe. In 1816 the state legislature voted to move the capital again, to Columbus to have it near the geographic center of the state, where it would be more accessible to most citizens.
Migrants to Chillicothe included free blacks, who came to a place with fewer restrictions than in the slave states. They created a vibrant community in Chillicothe, where they aided runaway slaves coming north. As tensions increased prior to the breakout of the American Civil War, The free black community at Chillicothe became an important stop for refugees on the Underground Railroad. Slaves escaping from the South traveled across the Ohio River to freedom, and then up the Scioto River to get more distance from their former homes and slave hunters. White abolitionists aided the Underground Railroad as well.
Ever feel like you deserve better treatment when you’re looking for a home?
Buying a home is the most expensive purchase the vast majority of Americans will ever take part in over the course of their lives.
In order to assist you better, we’ve made sure that fast responses and dedicated service is our number one priority, this is why we work in a ‘team’ environment. This means that through the course of purchasing a home, you may deal with several specialists. This is not to make things confusing, however it will speed up the process and insure that you get top notch service.
