Pickerington Real Estate Market Update

Posted on April 27th, 2010 by admin

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.

Tags: pickerington real estate market values, pickerington real estate update

Circleville real estate market update

Posted on April 27th, 2010 by admin

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,

Tags: Pickaway county real estate, pickaway county real estate market

DOs and DON’Ts of buying a foreclosure

Posted on April 6th, 2010 by admin

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 @ HER Real Living, 740-571-1606

Tags: dos and don'ts of buying foreclosures