After watching the happenings in the local real estate market for quite some time now, I have to question whether or not the media is really painting an accuate picture of the local housing market . You may agree with me, disagree with me, or agree to disagree with me, but here are my thoughts and opinions on the current LOCAL real estate market that we find ourselves in.
1. Condos have been hit especially hard. They've become extremely difficult to move in this market (partly because condos are competing with single family REO homes in the same price range).
2. Newer neighborhoods (including upscale neighborhoods, prices from $325K and up), built after 2002 or so, have also been hit especially hard.
3. Most of the areas that I work in (Powell, Dublin, Worthington, NW Cols) are still selling ok, with home values only down slightly from this same time last year, usually only 1 - 2%.
4. If your home looks the best it possibly can, and is reasonably priced (the sellers aren't trying to make profits that they could have 2 years ago), your home will sell. Homes in my neighborhood are still selling for close to asking price, in 90 days, give or take!
Not all together bad news! Happy house selling!